สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 21 มกราคม 2555
Moody's retains 'stable' outlook on India's ratings
Global rating agency Moody's Investors Service has retained its "stable" outlook on India's sovereign rating, citing potential for growth, robust domestic savings rate and a dynamic private sector.
Moody's rating balances its assessment of the country's credit strengths and weaknesses, relative to other rated sovereigns.
The comment from Moody's gives some respite to policymakers who are worried over a downgrade threat from S&P's and Fitch. Earlier this month, Fitch had reaffirmed its "negative" outlook on India over its current account deficit and slow economic growth, raising fears that the country could be downgraded to below investment grade.
In its report, Moody's listed "weak government finances, policy constraints due to politics, susceptibility to inflationary pressures and infrastructure bottlenecks" as the challenges before India.
(Sources: Economic Times, Indiatimes, Business Standard, Hindu Business Line, Business Today)
VECV to invest $ 223 million on expansion, new products by 2014
VE Commercial Vehicles Ltd (VECV), a joint venture between Sweden's Volvo Group and homegrown Eicher Motors, will invest $ 223 million by 2014 for expanding production capacity and developing new products.
In the meantime, the Indian partner will be launching Eicher branded trucks, developed using technology of the Swedish firm by the end of this year.
VECV began operations in July 2008 and its business includes the complete range of Eicher trucks and buses, VE Powertrain, Eicher's components and engineering design services businesses as well as the sales and distribution business of Volvo trucks within India.
(Sources: Economic Times, Indiatimes, Financial Express, i4u, Worldnews)
Maruti Suzuki to develop two facilities in Gujarat to step up manufacturing
In a move to step up its manufacturing in India, Maruti Suzuki - India's largest carmaker - has decided to develop twin facilities in Gujarat. The company's Japanese parent Suzuki Motor Corporation (SMC) has plans to concentrate on Asian markets following the recent closure of its US operations. Suzuki withdrew from the US market in November last year.
Maruti, the largest subsidiary of Japanese carmaker Suzuki, has charted out its future production model on the lines of Haryana operations, where it operates five plants from two separate locations in Gurgaon and Manesar.
(Sources: Economic Times, Indiatimes, India Everyday, Moneycontrol, i4u, Zeenews, Worldnews)
Budget needs to focus on promoting infrastructure investment: CII
Industry body CII has sought urgent steps in the forthcoming Budget to make the infrastructure sector viable and capable of attracting capital.
"Given that the 12th Plan envisages an investment of $970 billion in infrastructure, nearly half of which is to come from the private sector, urgent measures are required to make the sector viable and capable of attracting capital," CII said in its Pre-Budget Memorandum submitted to the Finance Ministry.
(Sources: Economic Times, Indiatimes, Hindustan Times, Business Today, Zeenews, IBNLive)
Centre to promote North East as 'adventure tourism' destination
With hills and mountains dotting the landscape of North Eastern region, the Centre plans to promote the region as an ‘adventure tourism’ destination to increase the flow of tourists, particularly foreign tourists, said Union minister of state for tourism K Chiranjeevi.
The actor-turned politician minister is hopeful that flow of foreign tourist into the region will increase by 20 % in next 2 years. The region registered 59,000 foreign tourists in 2011, out of 660,000 tourists that visited the country in the same year.
The ‘International Tourism Mart’ was first of its kind event to be held in North East and also first of its kind to focus on a specific region of India. Around 85 buyer delegates from 23 countries including Asean countries, Bangladesh, Bhutan, Japan, Korea, Australia, France, Germany, Italy, Spain, Switzerland, Sweden, the UK and the USA participated in the ‘Tourism Mart’.
(Sources: Hindu Business Line, Business Standard, i4u, Telegraph India, Business Standard)
India Inc tops R&D investment growth global charts
Indian companies have come on the top globally when it comes to growth in their research and development (R&D) investments, leaving their counterparts in the US and Europe far behind, a new study by the European Commission shows.
However, Indian firms rank far below when it comes to absolute R&D investments made by them and the top-ranked company from the country, IT major Infosys, is ranked at 329th place globally, shows the latest annual global R&D Scorecard for 2012 prepared by European Union's executive body, the European Commission.
These are the only 14 Indian companies present in a list of top-1500 entities worldwide in terms of their annual R&D investments.
(Sources: Hindu Business Line, Silicon India, Times of India, India Everyday, Press Trust of India)
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