สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 23 สิงหาคม 2555
UP towns lead peers in employment generation
Uttar Pradesh towns have topped in creating new job opportunities vis-à-vis peers in other states, which actually witnessed decline.
Four major towns of UP— Lucknow, Meerut, Kanpur and Allahabad —registered a 68 % growth in employment generation during January-June 2012; whereas growth in job opportunities declined significantly in majority of the Tier-I, -II and -III towns.
According to ‘Job Trends Across Cities and Sectors’, an analysis by the Associated Chambers of Commerce and Industry of India (Assocham), education, banking, insurance, financial services, event management, real estate, IT, human resources, hospitality and FMCG were leading job generators in UP.
(Sources: Business Standard, Economic Times, Indiatimes, Zeenews, IBNLive)
Biomass energy catches UP CM's fancy
Biomass energy has caught the fancy of Uttar Pradesh Chief Minister Akhilesh Yadav.
Yadav has directed officials to conduct a state-wide survey to ascertain places, where biomass power plants could be established. This would promote green energy and help power-starved UP to tide over the crisis to some extent, said Akhilesh.
Stressing on finding cleaner energy sources, he directed officials to speed up the work towards biomass power plants. He observed that such units, if set up across UP, would not only supplement power availability, but conserve environment.
(Sources: Hindustan Times, Times of India, the Hindu, Hindu Business Line, Livemint)
Mahindra Reva inaugurates manufacturing facility in Bangalore
Mahindra Reva Electric Vehicles, a part of the $ 15.4 billion Mahindra Group, today inaugurated its manufacturing facility here, which is claimed to be the first platinum rated automobile facility in India.
Inaugurating the world-class, energy-efficient, green manufacturing facility, Mahindra Group Chairman Anand Mahindra said the new plant would churn out 30,000 Mahindra Reva electric cars in next three years. Mahindra urged the central government to provide support to the growth of electric vehicles so that it becomes viable for everybody.
(Sources: Economic Times, the Hindu, Yahoo, Indiatimes, Hindu Business Line)
Indian tractor industry witnessing contraction in demand since November 2011: ICRA
The Indian tractor industry has been witnessing contraction in demand since November 2011, after having experienced robust growth over the period FY10 till the first half of FY12. Tractor volumes (domestic +export) declined by 3.4% (YoY) in Q4FY12, and posted modest 2.8% growth during Q1FY13, according to an industry report by ICRA.
(Sources: Economic Times, Indiatimes, Yahoo, Worldnews, IBNLive)
FDI in multi-brand retail to harm Indian workers: Global report
FDI in multi-brand retail without adequate safeguards will lead to widespread displacement and poor treatment of Indian workers in logistics, agriculture and manufacturing, the government today cited a global report on Wal-Mart as having said.
Minister of State for Commerce and Industry Jyotiraditya Scindia informed the Rajya Sabha in a written reply, that Switzerland-based UNI Global Union has presented a paper on 'Wal-Mart's Global Track Record and the implication for FDI in multi-brand retail'.
(Sources: Economic Times, Zeenews, Times of India, Indiatimes)
Economic slowdown pulls down revenue, profits of manufacturing, services sector cos
Slowdown in economic growth and capital expenditure has pulled down revenue growth of manufacturing and services sector companies to a six quarter low and impacted the net profit, according to CRISIL Research.
The poor operating performance, coupled with high interest rates and forex hedging losses, has resulted in a 13.6 % de-growth in net profits, it said.
Economic growth has slumped to a nine year low of 6.5 % in the 2011-12 fiscal, mainly on back of poor performance of manufacturing sector.
(Sources: Economic Times, Zeenews, Financial Express, Indiatimes)
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