สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 1 เมษายน 2557
Core sectors grow by 4.5% in February
India's infrastructure sector output of eight industries including coal, natural gas, refinery products, steel, cement, electricity, fertiliser and crude oil rose to 4.5% in February expanded at its quickest pace in five months, indicating improving economic situations.
The core sector index has a 38% weight in the Index of Industrial Production (IIP), which makes it a lead indicator of industrial activity and its revival suggests industrial sector may also be picking up pace. "However, broad-based recovery is still a distance away, with investments and order books likely to intensify only by the second half of the 2014-15 fiscal year."
(Source: Economic Times)
Tax dept inks advance pricing pacts with 5 MNCs
The government of India’s Income Tax Department on Monday signed Advance Pricing Agreements (APA) with five multinationals in the field of pharmaceuticals, telecom, exploration and financial services in a step towards giving certainty to taxpayers in international transactions and bringing down litigation on transfer pricing disputes.
The unilateral pacts include a range of international transactions, including interest payments, corporate guarantees, non-binding investment advisory services and contract manufacturing, and was welcome by industry as it would lend credibility to the government's efforts to provide certainty to taxpayers. The APA programme came in effect on July 1, 2012, and at the end of the financial year in March 2013. This year 250 applications have been filed. Applications received this year would be taken up the next financial year and take two years to conclude.
(Source: Business Standard, Economic Times, The Hindu)
Temasek Holdings backs Star Agriwarehousing with Rs 240 crore investment
Singapore state-owned investment company Temasek Holdings is investing Rs 240 crore in Star Agriwarehousing and Collateral Management Limited, one of India's largest post harvest agri-solutions provider offering modern and mechanised rural supply-chain infrastructure like farm procurement, logistics services, warehouses, labs and collateral finance.
The investment reflects Temasek's growing interests in agri-solutions businesses and assets as rising populations and emerging middle class boost food demand worldwide. Last year, Temasek pumped in Rs 572 crore for a 19.9% stake in Godrej Agrovet, a diversified agri-business company of the eponymous group, while last month, a unit of Temasek offered to buy Olam - among the world's top three coffee and rice traders - in a $4.2-billion cash deal.
Sources said the fund will be used to create further infrastructure, better technologies and private mandis with a special focus on states like Madhya Pradesh, Rajasthan, Gujarat and Maharastra.
(Source: Economic Times)
Gold imports stay at five-year low
The 2013-14 financial year ended on Monday, but there is no sign that gold imports in Gujarat will recover to their earlier levels in the near future. In fact, figures for the end of 2013-14 show that imports of the yellow metal had refused to improve from a level lowest in five years.
The reasons for the stagnation in gold imports remain the same; restrictions imposed on gold imports by the central government in June 2013 added to the cumulative impact of the economic slowdown, high prices of the yellow metal and a weak rupee on gold imports. As on Monday, imports of the yellow metal in 2013-14 were at a five-year low.
From April 2013 to March 2014, imports of the yellow metal in Gujarat could not cross even 100 metric tonnes (MT), making this financial year the worst in terms of imports.
(Source: Times of India, Economic Times)
Thaiindia.net Team
1 April 2014
