สรุปข่าวเศรษฐกิจอินเดียประจำวันที่ 4 กันยายน 2555
Thailand seeks tie-ups in tourism, education
Possible areas of cooperation and business prospects between India and Thailand were discussed at an interactive session between the Kerala Chamber of Commerce and Industry and the Thailand – India Parliamentarians Friendship Group.
Krich Attitkaew, president of the Thailand-India Parliamentarians Friendship Group, said Indian students can study in Thailand with scholarship.
He invited business people from Kerala to Thailand to understand the culture and traditions of that country. He said that Thailand is seeking cooperation with Kerala in education and tourism areas.
There is scope for business cooperation with India and Thailand in areas of chemical industry, seafood products, machine parts, gems and jewellery, education, tourism, food and edible items and logistics, said Nitipoom Navaratna, vice-president of the Thailand-India Parliamentarians Friendship Group.
(Sources: Hindu Business Line, Worldnews, Bangkok Times)
Delay in green nod to coal projects can impact economy: Panel
A Parliamentary committee has said delay in obtaining environmental clearance for coal projects has led to an "alarming situation" and it could impact the economy.
"The delay in obtaining environment clearances has led to an alarming situation...If the present scenario is allowed to continue, the production targets set for coal and lignite companies would come down drastically affecting the energy sector in particular and Indian economy at large," the Standing Committee on Coal and Steel said in a report tabled in Rajya Sabha today.
Production of coal has been seriously affected and it is "nation's loss," the panel said, strongly recommending that the forest clearance and environment clearance should be given as quickly as possible.
(Sources: Economic Times, Indiatimes, Zeenews, Financial Express, World News)
India's July exports down by 14.8 pc to $22.4 bn, says Government
India's exports in July contracted 14.8 %, steepest fall in three years, to $22.4 billion, mainly due to the demand slowdown in the US and Europe.
Reflecting slowdown in the economy, imports too declined by 7.61 % to $37.9 billion in July, leaving a trade deficit of $15.4 billion.
During the April-July period of the current fiscal, the country's shipments have shrunk by 5.06 % to $97.6 billion. Import during the period dipped by 6.47 % to $153.2 billion.
Commerce Secretary SR Rao has said the European sovereign debt crisis is impacting the world trade and in the US markets too, demand is not picking up..
(Sources: Economic Times, the Hindu, Indiatimes, Business Standard, NDTV)
Honda Motor to shrink sedan lineup in India: Nikkei
Honda Motor Co. will reorganize its car business in India, scaling down its lineup of sedans and focusing on compact vehicles, the Nikkei reported.
Honda, which recently converted its India joint venture, Honda Siel Cars India Ltd, into a wholly owned unit, plans to postpone sales of the new version of its Civic sedan, and forgo manufacturing the new version of the Accord sedan in the country, the business daily said.
The Japanese car manufacturer may discontinue the Accord vehicle altogether in India, the paper said.
(Sources: Reuters India, Economic Times, Moneycontrol, IBNLive)
RBI seen keeping rates steady in Sept: Reuters Poll
Reserve Bank of India is expected to keep its key interest rate steady this month, a Reuters poll showed, and economists see only a slight easing this calendar year, pointing to hawkish comments from policymakers concerned over high inflation.
A marginally higher-than-expected gross domestic product growth in the first quarter of this fiscal year reported last week gives additional room to the Reserve Bank of India to hold rates steady for a fifth straight month.
Of the 21 analysts polled, 19 see the repo rate unchanged at 8 % at the mid-quarter review on September 17, in line with expectations in a previous poll in July. But the median estimate for the policy rate at December-end is now 7.75 %, higher than 7.50 % previously forecast.
(Sources: Reuters India, NDTV, i4u, Worldnews, Moneycontrol, IBNLive)
Economic Section
Royal Thai Embassy