สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 13 กุมภาพันธ์ 2556
Gems, jewellery exports may decline 14% in 2012-13
India's gems and jewellery exports are expected to decline about 14 % to USD 37 billion in 2012-13 due to sluggish demand in western markets like the US and Europe.
During 2011-12, these exports stood at USD 43 billion, according to the data provided by the Gems and Jewellery Export Promotion Council (GJEPC).
To promote gems and jewellery even in domestic market, GJEPC Chairman Vipul Shah said that for the first time, the council would organise a business-to-consumer fair titled "India Gems and Jewellery Fair," wherein about 200 participants would showcase a wide variety of collection.
Also, GJEPC and India Trade Promotion Organisation (ITPO) have signed an agreement to organise the exhibition for the next three years. The four-day long fair, starting April 6 in New Delhi, is targetted directly at the consumers of northern India.
(Sources: Economic Times, Indiatimes, Daily India News, Hindu Business Line, Moneycontrol)
Exports up 0.8 per cent in January, imports rose 6 per cent
Exports rose an annual 0.8 % in January and imports for the month
Imports rose 6 %, leaving a trade deficit of $20 billion, a senior trade ministry official said on Wednesday.
Exports between April and January fell 4.9 % to $239.7 billion.
Exports have fallen since last year as demand slowed from major sales destinations, adding to the country's economic gloom and heightening worries about its trade and current account deficits.
(Sources: Economic Times, Indiatimes, Hindu Business Line, Moneycontrol, i4u, Zeenews)
Committed to restrict FY'13 fiscal deficit at 5.3 pc: PM Manmohan Singh
Concerned over economic slowdown, Prime Minister Manmohan Singh today said the government is committed to containing the fiscal deficit to 5.3 % of GDP this fiscal and various steps are being taken to revive economy, which include faster clearances to mega projects.
Addressing Conference of Governors, he said Indian economy has slowed down considerably in the last two years and the growth in this fiscal year will be much below the average growth of about 8 per cent that achieved in the last decade.
As per the latest estimates of Central Statistical Organisation (CSO), India's economic growth (GDP) is likely to slow down to 5 % this fiscal as against 6.2 % achieved last year.
However, Finance Minister P Chidambaram has exuded confidence of over 5.5 % economic growth in 2012-13.
(Sources: Economic Times, Indiatimes, Deccan Herald, Press Trust of India, i4u, NDTV)
IT exports to pick up in FY14
Nasscom, the Indian information technology services industry body, today indicated FY14 would be a better year than the previous year.
It expects revenues from exporting solutions, products and services to reach $84-87 billion, representing growth of 12-14 %. Domestic revenues are expected to grow by 13-15 % and reach $ 21.92 billion - $ 22.29 billion. The 12-14 % growth will mean an addition of $12-15 billion revenue in FY14.
The 12-14 % growth rate is better than FY13, in that export revenues are expected to grow by 10.2 % and touch $75.8 billion.
(Sources: Reuters India, Business Standard, Firstpost, Business World, Smart Investors)
Retail inflation soars to 10.79% in January
Consumer Price Index-based inflation reached a record of 10.79 % in January since the new index’s inception a year earlier. It stood at 10.56 % in the previous month. This justifies the Reserve Bank of India’s cautious stance on rate cuts in its monetary review last month.
The price spiral was mainly driven by higher prices of food items, particularly vegetables. The rate of rise went up in both rural and urban parts. For urban areas, it went up from 10.42 % in December to 10.73 % in January; in rural areas, from 10.74 to 10.88 %. Combined inflation was 9.9 % in November and 9.75 % in October 2012.
(Sources: Economic Times, Indiatimes, Business Standard, Times of India, i4u, Zeenews)
Steel industry may see rise in operational cost: Federation of Indian Mineral Industries
The steel industry may see further rise in its operational cost, along with the already high financing cost in the near future, as they are forced to use low-grade iron ore as raw material due to halting of operations in high-grade mines.
Earlier, while high-grade ore was used by the domestic industry to produce steel, low-grade ore was exported to other countries, especially China.
Goa had been the largest producer of low-grade ore in the country, but the Supreme Court had last year completely banned mining in the ecologically sensitive state.
Following the halting of mining in many other states like Karnataka and Odisha, availability has become an issue, Federation of Indian Mineral Industries (FIMI) said.
(Sources: Economic Times, Indiatimes, Moneycontrol, IBNLive, i4u, Zeenews)
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