สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 17 มกราคม 2555
Government to build $ 3.65 billion expressway from Ludhiana to Delhi
The government today announced it will build a six-lane expressway, estimated to cost$ 3.65 billion, between Ludhiana and the national capital.
"Three states Delhi, Punjab and Haryana today in principle accorded approval to build 357 km Delhi-Ludhiana Expressway, route map for which would be finalised by next month," Road Transport and Highways Minister C P Joshi told reporters here after a meeting with Ministers from three states.
An expressway is a controlled-access highway designed exclusively for high-speed traffic. This would be the second expressway after Delhi-Jaipur Expressway, for which the alignment has already been finalised.
(Sources: Economic Times, Times of India, Financial Express, Indian Express, Deccan Herald)
Bengal woos investors with projects worth $ 730 million
West Bengal today invited hoteliers and investors to avail the "ample opportunities" in the state with projects worth nearly $ 730 million in PPP model ready for take off.
Bengal Finance Minister Amit Mitra said at the FICCI conclave in New Delhi that many new airports are also coming up in the state to cater to the growing need of air connectivity.
Assuring the investors of a problem-free climate, Mitra said, "We have earmarked land at Sunderbans, Digha and many other places for setting up budget and star hotels and these projects are bankable."
Wooing the industry, he said” We have brought a portfolio of projects approximately worth $ 730 million and, therefore, we hope that the investors present here would come. These projects are already in the market."
(Sources: Economic Times, Indiatimes, Business Standard, i4u, Press Trust of India, Zeenews)
Chidambaram woos states on GST
Finance Minister P Chidambaram today said he would outline Constitutional amendments for the Goods and Services Tax (GST) in his Budget speech if states arrived at a consensus on the issue. States, however, said a consensus on the proposed indirect tax regime still eluded them.
In a pre-Budget consultations with finance ministers of states, Chidambaram stressed it was time to wrap up loose ends on GST. He added even if states gave their consent just a few days before the Budget, he would make GST a part of his Budget speech, said an official present in the meeting.
(Sources: Business Standard, Hindu Business Line, i4u, Business Today, Worldnews)
Ranbaxy, Daiichi Sankyo to leverage synergies in Thailand
Drug firm Ranbaxy Laboratories and its Japanese parent Daiichi Sankyo will integrate their business operations in Thailand as part of strategy to maximize synergies.
Both the companies intend to integrate their business operations in Thailand to leverage and maximize the synergies of hybrid business model, which is expected to commence business on April 1, 2013, Ranbaxy said in a statement yesterday.
The pharmaceutical market in Thailand is the second largest among ASEAN countries and Daiichi Sankyo (Thailand) DSTH, has built its presence mainly by targeting healthcare facilities through innovative pharmaceuticals.
(Sources: Economic Times, Times of India, Business Standard, Moneycontrol, Hindu Business Line)
Sluggish power sector could hit economic growth: India Ratings
Fuel supply risks and precarious financial health of electricity distribution companies continue to pose challenges for the power sector, whose slow progress could impact the country's economic growth, a report said today.
India Ratings & Research, part of global major Fitch Group, also cautioned that expected investments worth $ 32 billion in various power projects could turn into non- performing assets unless fuel issues are resolved.
For every one per cent increase in Gross Domestic Product (GDP), the power generation needs to increase by 1 %. Otherwise, there would be inadequate electricity supply that can impact not just the power sector but also other industries.
(Sources: Economic Times, Indiatimes, Financial Express, Zeenews, i4u, Indian Express)
Fiat’s Pune plant to become export hub
Adopting the export strategy of rivals Hyundai, Maruti Suzuki and Nissan-Renault, Italy’s top automaker Fiat is planning to make its Ranjangaon plant near Pune a global hub to build cars for the UK, Japan and Australia. The move will give Fiat economies of scale at a time of flagging domestic volumes. The export strategy also makes sense since the utilisation level of this plant, which has an annual capacity of 135, 000 cars, is around 50%.
The strategy to make India a global hub for compact cars and SUVs follows declining sales in its primary European market and the search for new geographies. India, which is similar to Brazil where Fiat is the market leader, offers a low-cost manufacturing destination with a huge captive market and a competitive component vendor base.
(Sources: Economic Times, Indiatimes, Reuters India, Indian Express, Livemint, India Everyday)
Economic Section
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