สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 3 เมษายน 2556
Growth in services sector slowest since Oct 2011: poll
Growth in India's services sector eased last month to its slowest since October 2011 as order books filled at a slower pace, a business survey showed on Wednesday, compounding problems for the economy after earlier data showed manufacturing activity was also losing momentum.
The HSBC services Purchasing Managers' Index, based on a survey of around 400 companies, fell to a 17-month low of 51.4 in March from 54.2 in February.
While the headline PMI fell for the second straight month, it has held above the 50 mark that separates growth from contraction since late 2011.
Services make up nearly 60 % of India's output and were the lone bright spot in an otherwise sluggish economy that likely grew at its slowest pace in more than a decade in the fiscal year that ended in March.
(Sources: Reuters India. Livemint, Smart Investors, Business Standard, CNBC)
India unlikely to hike gold duty again: Chidambaram
Finance Minister P. Chidambaram suggested on Tuesday that the government is unlikely to raise the import tax on gold further to avoid gold smuggling and would instead introduce inflation-indexed instruments to help curb a record current account deficit.
In January India raised the import tax on gold to 6 % to curb purchases.
Its passion for gold, seen by many as a hedge against high inflation, has led to a rise in its current account deficit, which reached an all-time high of 6.7 % of gross domestic product in the December quarter.
India's financial account, which includes foreign direct investment, portfolio investment and overseas borrowing by Indian companies, showed a surplus of $31.1 billion in the December quarter for the fiscal year ended March 31.
(Sources: Economic Times, Indiatimes, Reuters India, Livemint, Business World, India Everyday)
UP CM launches $ 615 million projects
Uttar Pradesh Chief Minister Akhilesh Yadav today inaugurated and laid the foundation of development projects worth $ 615 million pertaining to Noida, Greater Noida and Yamuna Expressway.
The projects amounting to $ 346 million, $ 221 million and $ 48 million relate to New Okhla Industrial Development Authority (Noida), Greater Noida Industrial Development Authority and Yamuna Expressway Industrial Development Authority, respectively. There was announcement for a span of projects in the social sector, roads, hospitals, parking, school, power, housing, etc.
UP Chief Secretary Jawed Usmani urged the authorities to ensure quality and timely completion of projects.
Another project, for which foundation was laid, included two 400 kv and 400/220 kv capacity power sub-stations estimated to cost $ 187 million.
(Sources: Business Standard, Smart Investors, Zeenews, Daily Mail, Business Today, Times of India)
Honda Cars to invest $ 460 million in Rajasthan Plant
In a bid to make inroads into the Indian market, Japanese car maker, Honda Cars India Limited (HCIL) on Tuesday announced an investment of $ 460 million at its Tapukara plant in Rajasthan and five new models for the Indian market in the next three years.
The company is setting up a new assembly line for car with an installed annual capacity of 120,000 units, a new diesel engine component production line and a forging plant at Tapukara. The new plant is expected to kick-start operation in 2014, and with this the total installed production capacity of HCIL will be doubled to 240,000 units per annum in 2014.
(Sources: Times of India, Hindu Business Line, Deccan Chronicle, the Hindu, Business Standard)
Expect sales to grow 43 pc at 3,930,000 units in 2013-14: HMSI
Honda Motorcycle & Scooter India (HMSI) today said it expects sales to grow 43 % this fiscal to 3,930,000 units on the back of new product launches and fresh production capacities coming in.
The company, which sold 2,754,000 units in 2012-13, said its third plant in Karnataka is expected to be operational by the first quarter of the ongoing fiscal.
In order to achieve its target, HMSI said it will add 500 outlets and expand its network to 2,500 sales and service touch points across India by FY'14-end.
(Sources: Economic Times, Indiatimes, Indian Express, ZigWheels, World News)
India and Singapore sign enhanced air services agreement
India and Singapore today signed an enhanced air services agreement to build on the existing 216 weekly flights and meet the growing demand for air connectivity between the two countries.
Civil Aviation Minister Ajit Singh and Singapore Transport Minister Liu Tuck Yew were present during the signing of the agreement. Singh, in Singapore from April 2 to 4, also exchanged views on air transport issues with Lui.
Currently, Singapore is linked by air services to 12 Indian cities, having the most frequent flights to India out of Southeast Asia.
The agreement was a rationalization of traffic entitlements for both countries, including aircrafts, Prabhat Kumar, Joint Secretary of the Civil Aviation Ministry, said.
(Sources: Economic Times, Indiatimes, Livemint, Hindu Business Line, Zeenews, Press Trust of India)
Consumers' confidence level rose in March: BluFin
Indian consumers' confidence level rose in the month of March owing to improved spending behaviour coupled with stable employment situation, says a study by financial services provider BluFin.
The BluFin's Consumer Confidence Index (CCI) rose to 41.8 points in March, an increase of 1.1 points from the preceding month. The index is a key 'aggregate' indicator that assesses the pulse of urban Indian consumers with regard to the economy, spending behaviour and employment. The index reflects pessimism at below 50 score and optimism above that.
(Sources: Economic Times, Indiatimes, Press Trust of India, Zeenews, Daily India News, Money life)
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