สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 1 เมษายน 2556
Rethinking investment strategy in India
For companies unsure about how to bridge cultural gaps, sole ownership may be better than joint ventures.
Anil Wadhwa, the Indian ambassador to Thailand, said his country had continuously developed manufacturing and would soon become the second most competitive destination for manufacturing after China. He also noted that the focus of the Thai electronics sector was closely aligned with that of Indian producers, making mutual investment easier.
India is a rapidly developing and diverse country that has much to offer, said Vasana Mututanont, deputy secretary-general of the Thai Board of Investment (BoI). It not only offers access to low-cost skilled labor, but also to some of the world’s most advanced technology, she said.
Pisan Manawapat, the Thai ambassador to India, said that previously Thailand had tried to attract Indian investors, but now the trend is reversed with India wooing Thai investors for the benefit for both countries. So the Thai Embassy in New Delhi is on a mission to help Thai investors that want to start ventures in India.
Some large Thai companies in various sectors have already invested in India. They include the CP Group, Thai Summit Auto Parts, Pruksa Real Estate, Italian-Thai Development, Delta Electronics, Pranda Jewelry and Srithai Superware.
(Sources: Bangkok Post, Topix, TV Balla, Journalist, i4u)
Mahindra Group sees 500-Mw opportunity in solar power
The Mahindra group, which forayed into the solar power sector three years ago, said it could add another 500 megawatts (Mw) over the next 24-36 months.
This opportunity, however, was not restricted to the projects it had won under the tariff-based bidding as part of the National Solar Mission, the company added. The group has two projects, of 5 Mw and 33 Mw, under the National Solar Mission.
(Sources: Business Standard, Smart Investors, India Environmental Portal, Infraline, News Now)
Gold imports in first 3 quarters equal estimates for full FY13
Gold imports in the first three quarters of 2012-13 have already reached the estimates of full-year imports made by the Prime Minister's Economic Advisory Council (PMEAC) headed by C Rangarajan, data have revealed.
The PMEAC had projected gold imports for 2012-13 to be worth $36 billion. According to the Reserve Bank of India (RBI)'s data on balance of payments, gold imports in the October-December quarter have been worth $17.6 billion, while from April to December, 2012, imports have been worth $37.8 billion.
(Sources: Business Standard, Smart Investors, India Everyday, Daily India News, News Now)
6th edition of consolidated FDI policy to be out this week
The sixth edition of the consolidated FDI policy will be released by the Department of Industrial Policy and Promotion (DIPP) this week which will incorporate the changes made in the regulations over the past one year, an official has said.
The DIPP is the nodal agency on FDI related matters. With a view to make India's FDI regime simple and easy to understand for investors, the department had compiled all the related policies into a single document.
Foreign direct investment (FDI) is considered crucial for economic development of a country and India has taken several steps to attract such funds.
The government has allowed FDI in multi-brand retail, power exchanges and hiked FDI cap in single-brand retail and broadcasting.
In the first 10 months of current financial year, foreign direct investment (FDI) contracted by 33% to USD 21 billion against USD 31 billion in the same period last year due to the global economic uncertainties.
(Sources: Times of India, Zeenews, the Hindu, Smart Investors, Top News Today, World News, i4u)
Madhya Pradesh topples Bihar in growth rate in 2012-13
Madhya Pradesh led major states of the country in respect of growth rate in 2012-13, and dislodged Bihar from top position, the state government has said citing estimates released by the Central Statistics Office (CSO).
Agriculture growth rate of Madhya Pradesh for year 2012-13 is 14.28 % and GSDP growth rate 10.02 %, a state government release said here today.
With this, Madhya Pradesh has occupied the top position in respect of GSDP growth, dislodging Bihar, it said.
Last year Bihar was at the top, with 13.26 % GSDP growth, followed by Madhya Pradesh at 11.81%.
In 2012-13, Bihar's GSDP growth is estimated to have declined to 9.48 %.
MP has registered continuous increase in per-capita income, the release added. During the current financial year the per-capita income of the state is estimated to have gone up by 8.69 %.
(Sources: Economic Times, Indiatimes, Business Standard, Times of India, Worldnews, Press Trust of India)
Economic Section
Royal Thai Embassy