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Economy |
Deutsche Börse and Singapore
Exchange Ltd. (SGX) have
negotiated minor stakes in
Bombay Stock Exchange Ltd. (BSE)
that is seen as positioning
the nation better in a
global-economy.<More>
2. Is the Economic Growth
Sustainable?
(February 07, 2007)
If economic reforms keep
pace, in the next
several years, the
Indian economy is
expected to pass Italy,
France, and the UK and
become the fifth largest
in the world spurred by
more efficient
industries competing
with the global system.<More>
3. RBI Squeezes Money Supply
(February 06, 2007)
The Reserve Bank of India
(RBI) hiked the Repo Rate to
control money supply making
loans more expensive and also
limiting risky credit exposure
in sensitive areas-this key
rate is the rate at which
banks lend against government
bonds.<More>
4. India Bullish on Growth
(January 23, 2007)
A recent survey of 200
business houses found that
business confidence index for
October 2006-March 2007 was
higher by 2.5 points at 71.8
from the previous 6 months and
85% of the respondents
revealed plans for increased
investments.<More>
5. Economic Outlook for
2006-2007
(January 16, 2007)
Prime Minister Manmohan
Singh’s high-powered
economic advisory
council (EAC) presented
their economic outlook
projecting current
account deficit (CAD) of
1.5%, foreign direct
investment inflow of USD
9 billion, and reserve
buildup of USD 22.6
billion.<More>
6. Sustainable 9% GDP Growth
(December 21, 2006)
Led by strong manufacturing growth,
the economy grew at a robust 9.1% in
the first half of fiscal year with
exports clocking 34.9% prompting the
government to claim that the growth
pattern “reflected the ability of
Indian manufacturers to meet
international standards.”<More>
7. Growth 9%, Deficit Contained
(December 01, 2006)
The economy grew an astounding 9% in
the first half of fiscal year (at
9.2% in Q2) due to impressive
manufacturing sector performance and
despite slowdown in the farm sector,
inflation concerns, and ballooning
fiscal deficit.<More>
8. Oct Exports Down
(November 30, 2006)
Indian export growth which
have been growing at breakneck
speed in the first half of
fiscal year, decelerated to
18.51% valued at USD 9.6
billion (from USD 8.1 billion
last year) raising fears that
overall cumulative growth for
the year may be impacted.<More>
9. India Offers ICT to Brunei
(November 22, 2006)
India told a visiting delegation
from Burnei Darussalam that it is
prepared to shared its expertise
Information Communication Technology
(ICT) to further that nation’s plans
in e-governance, IT education, IT
parks, and cyber security to protect
critical infrastructure.<More>
10. Manufacturing, Agri, Power Key to
GDP Growth
(November 09, 2006)
While the Gross Domestic Product
(GDP) growth in Tenth Financial Plan
ending March 2007 is the highest
growth ever achieved in a 5 year
period, the rate of growth is
expected to be lower than the
projected 8% at 7.2% because of
slowdown in manufacturing sector.<More>
11. 10% Growth Can Remove Poverty
(October 30, 2006)
Prime Minister Manmohan Singh said
he hoped that the Indian economy
will grow at 10% in the “near
future" and that this “rapid growth”
will in “10 to 20 years” will
“remove the ancient scourge of
poverty, illiteracy, and
unemployment.”<More>
12. Y-on-Y Industrial Growth
Higher
(October 13, 2006)
An upsurge in manufacturing
took cumulative industrial
production from April-August
to 10.6 compared to 8.7 last
year and August saw a 9.7%
rise compared to 7.6% but
lower than July’s growth of
12.7% but analysts say that
consumer demand has not
slacked.<More>
13. India Disagrees with IMF Quotas
(September 19, 2006)
India, Brazil, Argentina, and Egypt
vociferously objected to International
Monetary Fund’s (IMF) “quota calculation
formula” as it “is opaque and flawed” and
“reforms are possible only if” the “final
outcome” is defined “followed by genuine
consultations.”.<More>
14. Industrial Growth Fastest in
Decade
(September 18, 2006)
The Central Statistical
Organization announced that
the index of industrial
production (IIP) showed that
industrial production grew the
fastest in a decade at 12.4%
in July, output in all sectors
including manufacturing showed
impressive growth.<More>
15. Fiscal, Revenue Deficit Up
Dangerously
(September 08, 2006)
The Controller General of
Accounts (CAG) revealed that
India ’s revenue and fiscal
deficit within the 1st four
months amounted to 92.3% and
58.1% of the budget estimate
for the entire fiscal raising
questions on the nation’s
ability to meet deficit
targets.<More>
16. S&P Says Asian Banks Have Staying
Power
(September, 07 2006)
A recent report from Standard &
Poor’s (S&P) Ratings Services said
that a financial crisis similar to
the one that affected several Asian
countries’ currency values and stock
markets in 1997 is unlikely and that
the banking system is “in a better
position.<More>
17. Fiscal Deficit Worsens
(August 01, 2006)
Runaway unplanned
expenditure far exceeding
receipts has increased
fiscal deficit to over 50%
at Rs 77,740 crores (USD
16.9 billion) more than
budget estimates of Rs.
148,686 crores (USD 32.3
billion) in the very first
quarter.<More>
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The Reserve Bank of India (RBI) reaffirmed growth forecast of 7.5%-8% citing
strong corporate sector growth, continued investment inflow, strong orders,
high capacity utilization, good export growth, stabilized inflation, and
sufficient liquidity of banks.<More>
19. India is 3rd Largest Investor in UK
(July 07, 2006)
British High Commissioner to India
Michael Arthur said “With Indian
businesses investing £1.02 billion
into the UK, India now ranks as the
third largest foreign investor in the
UK globally, and the second largest
from the Asia-Pacific region.”<More>
20. Govt to Maintain Borrowing Levels
(June 30, 2006)
Federal Finance Minister P.
Chidambaram has said that the overall
size of borrowing for the current
fiscal year will remain at Rs. 152,856
(USD 33 billion).<More>
21. CII Predicts Slower GDP Growth
(June 26, 2006)
The Confederation of Indian Industry (CII)
predicted slower Gross Domestic
Product (GDP) growth in the current
year bucking last year’s 8.4% growth
propped up by 3.9% growth in
Agriculture but insisted that growth
will remain impressive at the 8% level.<More>
22. Business confidence index up 8%, says
CII
(June 22, 2006)
Belying stock market reverses, a
Confederation of Indian Industry (CII)
outlook survey says that compared to
six months ago, significant increase
in business confidence has hiked
growth expectations for the current
financial year by over 8%.<More>
23. India, China Still Favorite Investment
Destinations
(June 22, 2006)
A poll of 400 expatriate
investors suggested that
waning fears of corporate
governance in China and
fewer investment hurdles in
India make these countries
their most favored
investment destinations.<More>
24. Govt Revenues up
(June 21, 2006)
India’s customs collections during the
1st two months of current financial
year have grown by 30% to Rs. 12,633
crores (USD 2.7 billion) and this
revenue has been attributed to an
increase in non-oil imports or 16% of
annual target of Rs. 77,066 crores.<More>
25. Exports Up, So is Deficit
(June 20, 2006)
According to the provisional trade
data released by the commerce
ministry, India’s merchandise export
in May was 35.31% higher than previous
year’s even as imports increased by
27.04%.<More>
26. Bringing Economic Focus to
Indo-Japan Ties
(June 19, 2006)
With Indo-Japan relations
not growing at the right
pace, both countries have
signed an accord that will
“meet the needs of Japanese
investors” and “address
India’s needs” to ensure
“strategic importance of
both countries” are met.<More>
27. Higher Savings Needed for Higher
Economic Growth
(June 16, 2006)
The Planning Commission has warned
that the present savings rate of
28-29% could merely ensure a GDP
growth rate of about 7.5 per cent and
higher savings and foreign direct
investment (FDI) is necessary to get a
growth of 8-9% in the 11th financial
plan.<More>
28. Indo-Japan Plan CECA by year-end
(June 15, 2006)
India said that it anticipates a
Comprehensive Economic Cooperation
Agreement (CECA) to expand trade with
Japan and enhance bilateral
cooperation in pharmaceutical and
manufacturing to ensure doubling
bilateral trade to $10 billion in
three years.<More>
29. India Gets Largest Remittance
(June 14, 2006)
A JP Morgan study says that India gets
the most inward remittance from its
Diaspora world over estimates it to be
around USD 21 billion (an increase of
150% since 1995).<More>
30. Economic Census Says Rural Sectors
Growing Faster
(June 13, 2006)
In the first sign that economic
reforms are working, the “Economic
Census 2005” has shown that 61.3% of
rural enterprises to be growing faster
than their urban peers and a lot of
fast-paced development is happening in
the neglected North-East.<More>
31. Indian Corp Raises USD 17B in Debt
(June 12, 2006)
Indian companies topped all
expectations to raise USD 17.13
billion last year in debt and capital
market issues including USD 5.21
billion through foreign currency
convertible bonds (FCCB).<More>
32. Indian Outward Investment Growth to EU
is more
(June 12, 2006)
Indian investments to the European
Union (EU) have grown from €25 million
in 1999 to €598 million in 2003 while
EU investments in India have remained
stagnant at €800 million since 1999.<More>
33. India is 4th Attractive Investment Destination
(June 08, 2006)
A global survey has ranked India as the 4th most
attractive investment country and while it showed a
diminishing interest in call centers in India without
suggesting reasons for the decline, it was still the
most preferred location for call centre and back
office activities..<More>
34. Strong Interest from Foreign
Funds
(June 06, 2006)
Encouraged by the great
economic promise, improved
relations with the West, and
tremendous strides in
industry, major foreign funds
disclosed plans to enter the
Indian mutual fund industry.<More>
35. Out of Control Revenue Deficit
(June 02, 2006)
In worrying signs for the economy, the latest revenue
expenditure statement released by the Government,
revenue deficit ballooned in April and was 21.5% of
the estimated deficit in the budget compared to 18.8%
last year.<More>
36. GDP Performs Above Expectation
(June 01, 2006)
Better Agriculture, Manufacturing, and Services sector
performance saw the Gross Domestic Product (GDP) going
up to 8.4% compared to 7.5% the previous year; the
stock market actually collapsed despite the good news
citing global concerns.<More>
37. US Wants More Economic Reforms
(April 28, 2006)
US Treasury Under Secretary Timothy Adams said that
more economic structural reforms are necessary for
billions of dollars to flood the India and create
unprecedented opportunities for the nation. <More>
38. FII Exposure valued at USD 80 billion
(April 24, 2006)
With an estimated 8% Gross Domestic Product (GDP)
growth rate, India continues to attract Foreign
Institutional Investors (FII) whose numbers have grown
from 685 to 898 in a year and valued at USD 80 billion
driven up by the 180 A-group companies. <More>
39. Indian Exports crosses USD 100 billion
(April 12, 2006)
As
reported , Indian exports crossed the
psychological threshold of USD 100 billion and while
trade deficit remains at USD 39 billion most of that
is because of oil imports resulting in a non-oil net
trade surplus.<More>
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