สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 27 ธันวาคม 2555
Singh says 8 percent growth target 'ambitious'
Prime Minister Manmohan Singh struck a downbeat note on the challenges facing the Indian economy on Thursday, dubbing a five-year plan for average growth of 8 % "ambitious".
India's GDP growth has languished below 6 percent for three straight quarters, a far cry from the near-double-digit pace of expansion before the 2008 global financial downturn.
Economic growth for the fiscal year ending in March is expected to be 5.7-5.9 %, India's slowest since 2002/03.
However, one of Singh's key policy advisers, Montek Singh Ahluwalia warned at the meeting that growth could get stuck at 5.0-5.5 % if a policy logjam continues.
(Sources: Reuters India, Economic Times, Indiatimes, Financial Express, Moneycontrol, NDTV)
Bottom five states grew faster than national average over last 5 years
India's growth story over the last five years has been far more inclusive than in the past, with the bottom five states growing faster than the national average, according to government data released ahead of the National Development Council meeting to approve the 12th Five Year Plan.
"The country's average GDP growth in the 11th Five Year Plan period was 7.90%. But the bottom five states grew faster at 8.58%, just about half a percent slower than the top five states who recorded 9.1% growth," said a senior government official on Wednesday.
(Sources: Economic Times, Indiatimes, Hindustan Times, Business Standard, Zeenews, NDTV, i4u)
Top Japanese companies show interests in 19 DMIC projects
Japanese engineering companies such as Mitsubishi Heavy Industries, Hitachi, Mitsui Engineering & Shipbuilding Co, Toshiba, Sojitz etc. have shown interests in executing 19 projects that would be funded out of $4.5 billion Japanese support promised for India-Japan friendship project, Delhi Mumbai Industrial Corridor (DMIC). The project that envisages creating seven new industrial cities around Western Dedicated Rail Freight Corridor between Delhi and Mumbai is expected to create infrastructure worth over $100 billion. In September last year, the government had approved Central assistance of $ 3.37 billion for a period of five years for the DMIC.
(Sources: Economic Times, Indiatimes, Financial Express, Hindu Business Line, NDTV)
Uno Minda ties up with Korea's AMS to develop automotive lamps
Auto component maker Uno Minda today said it has signed a technical license agreement with Korean firm AMS to develop engineered automotive lamps in India.
AMS President S M Park said the partnership with Uno Minda brings the best practices to Indian OEMs and will help to explore and expand the markets within Asia.
(Sources: Economic Times, Indiatimes, Hindu Business Line, Moneycontrol, IBNLive)
Manufacturing could grow 5-7% in five years, says survey
Senior executives of the country’s leading manufacturing companies are optimistic that the industrial sector, currently reeling under economic slowdown, could return to high growth trajectory “with a change in ecosystem and policies”, according to a report.
“Over 69 % of respondents believe (manufacturing) growth of over 9 % is possible with a change in ecosystem and policies,” said the study, prepared by the Confederation of Indian Industry and Boston Consulting Group.
(Sources: Economic Times, Indiatimes, Times of India, Zeenews, NDTV, i4u, Business World)
Servion plans to open Thailand arm in January
Servion Global Solutions, a Chennai-based provider of customer interaction management (CIM) solutions, is planning to open a subsidiary in Thailand in January 2013 to capitalize the booming call centre industry in that country.
Servion, which has more than 600 customers and over 1,000 installations spread across 60 countries, currently garners around 25 % of its revenues from Asia-Pacific, its second-largest market after the US. With the addition of the Thailand operations, the company expects to grow its Asia-Pacific revenues by another 25 %.
(Sources: Business Standard, Smart Investors, i4u, India Everyday, Business World)
Gujarat could be bigger home for Maruti by 2020
Haryana may be Maruti Suzuki’s first home, but Gujarat could become its main production base some eight years down the line. By then, its new facility in the state would have surpassed the older ones in terms of investments as well as volumes.
By 2020, production capacity at the Gujarat facility would hit 15,00,000 units annually compared with the combined capacity of Gurgaon and Manesar plants at 1,25,000 units.
(Sources: Indian Express, Financial Express, Economic Times, Indiatimes, Press Trust of India)
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