Himanshu Sharma's blog | My views, My space: Indian Economy

Showing posts with label Indian Economy. Show all posts

Tuesday, December 30, 2008

Indian economy growth predicted at 6 - 7% for next year

Kotak Securities have predicted indian economic growth between 6-7% for year 2009 the reason told is: "The global turmoil has had an impact on the Indian economy
due to the resultant liquidity crunch and fall in demand. This will have an impact on the growth of the corporate sector and this impact may continue in the foreseeable future," Kotak Securities' managing director S A Narayan said.

"We see BSE Sensex moving in the range of 9000 – 12000. Further uptrend can be expected only after further visibility emerges on the global economic growth and the extent of the impact on India," said Mr Narayan, adding, "select stocks in the pharmaceuticals, PSU banks, power, construction and capital goods sectors are expected to perform well.

Large players in infrastructure sector less dependent on raising fresh capital from market will outperform," he added. In a technical outlook report put out by Ambit Capital, the brokerage expects Nifty to start its upmove once consolidation gets completed in the first months of 2009. Ambit Capital has given short-term target of 3800 on the Nifty.

What others are reading now:
-Economies hit by recession
-Plan for World Economy Revival
-Indian Economic Summit Updates
-Rs v/s US$ latest updates
-World's Strongest economies list
-Trouble in Indian Forex
-Indian Agricultural Updates
-Effect of Recession on Indian economy

"Over a medium-term horizon, Nifty looks positive. As per the Elliot Wave Counts, Nifty has completed the price-wise correction and going forward, one can expect time-wise correction. However, in that process also, we expect Nifty to inch upward," the technical outlook report said.

published under - economy of india, dwindling indian economy, India Economy, india economy updates, Indian Economy, india economy updates

Saturday, November 1, 2008

India Economy Updates-November 2008

Friday, October 24, 2008

India chasing 49 countries in Global Competitivenesss

The United States, tops the overall ranking in The Global Competitiveness Report 2008-2009 again, released recently by the World Economic Forum. However Our India is still chasing 49 countries in the race of global competitiveness. We have improved a lot on various aspects like we enjoy advantages not only from its market size (ranked 4th for its domestic market size and 5th for its foreign market size), but also from its strong business sophistication (ranked 27th) and innovation (ranked 32nd), however our overall competitive position is weakened by its macroeconomic instability (109th), with the government running one of the highest deficits in the world (ranked 127th), unsustainable levels of government debt (ranked 113th), and fairly high inflation.

Also read:
How to earn profit from Share Markets amid crashes
Largest and strongest Economies of world list

The list goes as shown below:

Country: US

Rank: 1

Score: 5.74

Country: Switzerland

Rank: 2

Score: 5.61

Country: Denmark

Rank: 3

Score: 5.58

Country: Sweden

Rank: 4

Score: 5.53

Country: Singapore

Rank: 5

Score: 5.53

Country: Finland

Rank: 6

Score: 5.50

Country: Germany

Rank: 7

Score: 5.46

Country: Netherlands

Rank: 8

Score: 5.41

Country: Japan

Rank: 9

Score: 5.38

Country: Canada

Rank: 10

Score: 5.37
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Country: India

Rank: 50

Score: 4.33

Sunday, September 14, 2008

Real GDP growth in Q1 FY 09 at 7.9 pc-CMIE

The first quarter of this fiscal witnessed a real GDP growth of 7.9 per cent which is expected to accelerate further in the second half, an economic think-tank report said.

"Real GDP grew by 7.9 per cent in the first quarter of 2008-09. We expect the economy to accelerate in the second half of the fiscal," the Centre for Monitoring Indian Economy (CMIE) said in its September monthly review.

The broad composition of the growth in the first quarter was - agriculture - three per cent, industry - 6.9 per cent and services - 10 per cent, CMIE said.

However, each of these were lower than the corresponding levels of growth in the year-ago quarter with the slowdown severest in industry, CMIE said.

"Within industry, mining and construction sectors reported healthy acceleration in growth," the report said.
Mining growth accelerated from 1.7 per cent in the previous year to 4.8 per cent in this year while in the case of the construction industry, the acceleration was from 7.7 to 11.4 per cent.

The manufacturing and utilities sectors saw a serious slowdown. "Growth in manufacturing slowed to 5.6 per cent in the first quarter of 2008-09 from the 10.9 per cent growth registered in the first quarter of 2007-08," CMIE said.

-Economic Times

Tuesday, July 15, 2008

World's Strongest & Largest Economy list 2007-08

Finally Indian Economy managed to enter into league of World's trillion dollar economies .

According to the World Development Indicators released on July 1, India was a $1.17 trillion economy at the end of calendar 2007.

The US retained its pole position as the largest economy with GDP of $13.8 trillion. Following are names of the largest countries in terms of GDP.

The list of World's largest/strongest economies goes as shown below :
(Rank - Economy value in $)
1. - US
$13811.2 billion - 2007
$13163.9 billion - 2006

2. - JAPAN
$4376.7 billion - 2007
$4368.4 billion - 2006

3. - CHINA(People Republic of China)
$3297.2 billion -2007
$2896.9 billion -2006

4. - GERMANY
$3280.0 billion -2007
$2644.7 billion - 2006

5. - UK(United Kingdom)
$2727.8 billion - 2007
$2377.0 billion - 2006

6. - FRANCE
$2562.3 billion - 2007
$2248.1 billion - 2006

7. - ITALY
$2107.5 billion - 2007
$1851.0 billion - 2006

8. - SPAIN
$1429.2 billion - 2007
$1224.7 billion - 2006

9. - CANADA
$1326.4 billion - 2007
$1271.6 billion - 2006

10. - BRAZIL
$1314.2 billion - 2007
$1067.5 billion - 2006

11. - RUSSIA
$1291.0 billion - 2007
$987.0 billion - 2006

12. - INDIA
$1171.0 billion - 2007
$911.8 billion - 2006

Saturday, June 21, 2008

Inflation to hit Indian Inc's growth plans - report

The 13-year-record inflation figures were announced on a day when Hindalco Industries announced its plan to retire loans taken to finance the Novelis acquisition. The Aditya Birla flagship company, which has about $3.03 billion as debt because of a bridge loan taken to fund the acquisition, will be tapping the market soon to meet the bridge payout.

“As long as we can pass on the cost to the market, it is ok,” managing director Debu Bhattacharya told reporters on Friday. “If we can’t, then it will be bad.” Inflation rate surged to a 13-year-high due to high crude and commodity prices, putting a question mark on growth estimates and on the ability of the Indian market to absorb any further increase in input costs.

“It’s (inflation) very unfortunate and certainly a thing that we can do without,” said Tata Sons’ finance director Ishaat Hussain. “But it has been driven by high oil and commodity prices, largely on account of external factors. It will require measures which will impact growth. Borrowing will become costlier and growth momentum will be affected.”

Indian companies, large and small, have drawn up large plans to expand capacities. Since borrowing will become costlier, the future of such expansion plans looks uncertain. However, the infrastructure sector may not be affected as deferring such projects would be even costlier.
India is scheduled to spend $500 billion to develop various infrastructure projects. B Hariharan, group finance director of the Gautam Thapar-controlled Ballarpur Industries, says “The high inflation will slow down the manufacturing sector. Although expansion projects will be affected, those that will be funded by domestic debt will be hard hit, while companies depending on foreign loans may be relatively better off,” he added.

On Thursday, KPMG said India would likely see the largest global investment in the manufacturing sector, with about 25% of large global corporates expected to invest in the country. Investment in other sectors such as in industrial products, will also be large, with India likely to displace the US to gain the second rank after China, said the report, which was based on a survey of 300 corporate investment strategists from 15 economies

Wednesday, June 11, 2008

US has vital stake in India's rise as a global power

Describing India as an emerging "global power" and an "ally," US Secretary of State Condoleezza Rice says Washington has a "vital" stake in New Delhi's rise.

"India stands on the front lines of globalisation. This democratic nation promises to become a global power and an ally in shaping an international order rooted in freedom and the rule of law," Rice says after noting that Indo-US relations have experienced a "dramatic breakthrough" during the eight years of Bush Administration.

"...the United States has a vital stake in India's rise to global power and prosperity, and relations between the two countries have never been stronger or broader," Rice says in an article in the latest issue of Foreign Affairs magazine published by Council on Foreign Relations, a Washington think-tank.

"It will take continued work, but this is a dramatic breakthrough for both our strategic interests and our values," she says.

Penning her thoughts on foreign policy pursued by the George W Bush administration during the last eight years, Rice says Washington has placed importance to building strong relations with existing global players as well as emerging.

With those, particularly India and Brazil, the United States has built deeper and broader ties, she says.

On Brazil, she says the country's success at using democracy and markets to address centuries of pernicious social inequality has global resonance.

"Today, India and Brazil look outward as never before, secure in their ability to compete and succeed in the global economy.

"In both countries, national interests are being redefined as Indians and Brazilians realise their direct stake in a democratic, secure, and open international order -- and their commensurate responsibilities for strengthening it and defending it against the major transnational challenges of our era," Rice says.

The terror attacks on the US on September 11, 2001 was similar to the attack on Pearl Harbour in 1941, which fundamentally changed the world, she says.

"We were called to lead with a new urgency and with a new perspective on what constituted threats and what might emerge as opportunities. And as with previous strategic shocks, one can cite elements of both continuity and change in our foreign policy since the attacks of September 11."

"What has not changed is that our relations with traditional and emerging great powers still matter to the successful conduct of policy. Thus, my admonition in 2000 that we should seek to get right the "relationships with the big powers" -- Russia, China, and emerging powers such as India and Brazil -- has consistently guided us," Rice says.

Washington's alliances in the Americas, Europe, and Asia remain the pillars of the international order, she says, adding that the Bush administration was now transforming them to meet the challenges of a new era.

"In this strategic environment, it is vital to our national security that states be willing and able to meet the full range of their sovereign responsibilities, both beyond their borders and within them. This new reality has led us to some significant changes in our policy.

"We recognise that democratic state building is now an urgent component of our national interest," she said adding that in the broader Middle East, the US recognises that freedom and democracy are the only ideas that can, over time, lead to just and lasting stability, especially in Afghanistan and Iraq.

Monday, June 9, 2008

Single FII can invest up to $200 mn in Indian debt Securities

Foreign institutional investors (FIIs) will now have an individual ceiling of $200 million for investment in Indian debt securities. The move is perceived, by many, to be an attempt to avoid concentration of risk in the debt market. Further, the Securities and Exchange Board of India (Sebi) ruled on Friday that the enhanced limits will be allocated to FIIs on a ‘first-come-first-serve basis’.

FIIs wishing to take advantage of the enhanced limit will have to make their applications to Sebi by June 16, 2008, and the first few entities to apply before the total cap of $8 billion is reached will be allocated the debt. There are doubts over the exact impact of the move, especially since the existing limit also has not been utilised. Sebi’s move has come at a time when interest in government securities has waned resulting in the yield on 10-year bonds inching up to 8.25%.

Bonds have come under pressure, following fuel price hike and the government’s decision to issue more oil bonds this year. But while the new limit may not have a short-term impact, market participants feel that it is a positive signal being sent out by the government and regulators.

Last week, the government had reviewed its external commercial borrowing policy and increased the FII limit in debt securities to a total of $8 billion, of which $5 billion would be for government securities and $3 billion for investment in corporate debt. The earlier limit for FIIs in debt stood at $4.7 billion, of which $3.2 billion was allocated for government securities and $1.5 billion for investment in corporate debt. Standard Chartered Bank managing director and regional head for global markets and South Asia Sundeep Bhandari said, "The ceiling Sebi has imposed on companies is probably an attempt to avoid concentration of risk, and broadbase the market.

It is a good move by the regulator, as it will negate the volatility that could have been caused by a lesser number of investors pumping in large amounts." The decision to increase foreign investment in debt securities comes at a time when the market is not doing too well. According Mr Bhandari, the timing could not be better, as it will attract investors with a long term view. "If this move had come when the market was booming, it would have fuelled a number of speculative investors," he added. A senior official at a bond house said, "The appetite for Indian debt securities from FIIs has not been high so far.

Though the signals sent out by Sebi are clear, it remains to be seen how much of an impact it will have." Incidentally, the corporate debt market has not performed too well over the past few months. There was only two new issues in the past month. The other two issues currently open, of Gammon India and Punjab State Electricity Board, have been kept open for a period of over two months due to a lack of investors.
- Economic times

Thursday, June 5, 2008

Tata Group is world's sixth most reputed business group

Diversified Indian conglomerate Tata group has emerged as the world's sixth most reputed company, but the country's most valued firm Reliance Industries failed to make the grade.Tata group leapfrogged over 100 positions from last year's 124th rank in the annual Global 200: The World's Best Corporate Reputations list, compiled by US-based Reputation Institute.

The global list, which includes 10 other Indian companies, has been topped by Japanese auto maker Toyota, followed by US-based internet search giant Google, Sweden's Ikea, Italy's Ferrero and another American firm Johnson & Johnson.
The Ratan Tata-led group is joined by India's second largest software exporter Infosys Technologies in the Top-50 league at 14th position.

However, at least nine other Indian firms, which were among 600 companies considered in a survey to prepare the list, could not make it to the final 200. These firms include Mukesh Ambani-led RIL, the country's biggest by revenue among private sector firms and overall largest in terms of market value.

Other Indian companies that were considered for the list, but failed to make the cut include the biggest private sector lender ICICI Bank, top private and public sector telecom firms Bharti Airtel and BSNL, IT giant Wipro, Birla group's Grasim Industries, tobacco-to-consumer goods conglomerate ITC as well as two state-run firms -- oil refining and marketing major BPCL and national carrier Air India Ltd.

While releasing its latest Global Pulse report, Reputation Institute said that Tata group and Air India have the strongest and weakest corporate reputations respectively among the companies from India. Besides Tata and Infosys, other firms that made to the top 200 list include, Maruti Udyog (Suzuki) Ltd, State Bank of India, Hindustan Lever Ltd, Hero Honda Motors, Life Insurance Corp of India, Bajaj Auto, ONGC, Mahindra and Mahindra and Indian Oil Corp.

Both Tata and Infosys have gained over 100 spots each to join the top tier of global companies.India's Tata Group and Infosys Technologies saw their reputations increase by over 8 points in 2008, and catapulted over 100 spots in the ranking to join the top tier of global companies in 2008, in recognition of their growing role among the world's business elite," the report said.

However, the highest jump in ranking has been seen by China's Faw Group (ranked 41st with an improvement of 178 spots), followed by Norway's Coop, Canada's Sobey's and Japan's AEON, all of which have gained over 100 spots.

Maruti, the country's biggest car maker, has been ranked at 77th, SBI at 107th, HLL (now renamed as HUL) at 131st, Hero Honda at 147th, LIC at 161st, Bajaj Auto at 169th, ONGC at 186th , M&M at 191s and IOC at 199th position.

Globally, food and beverage giant PepsiCo, headed by a person of Indian origin Indra Nooyi, has been ranked 100th.
Tatas are ranked higher than companies like Walt Disney, Marks and Spencers, Xerox, Colgate-Palmolive, Sony, Honda, General Electric (GE), all of which are in the top-50.

The survey was conducted on 600 largest companies from 27 countries, out of which 200 were selected for the list. Toyota earned the highest ranking with a score of 86.53, followed by Google with 85.23 points.

Reputation Institute said that all the 200 companies earned scores higher than the global mean of 64.2 points, but despite earnings better-than-global average, the companies ranked 51-200 have significantly weaker reputations than the top tier companies.

also read : effect of increase in oil prices on indian economy

Wednesday, June 4, 2008

Petrol | Diesel | Home LPG prices Up - Economic Updates

The government hiked petrol and diesel prices by Rs 5 and Rs 3 a litre respectively and that of LPG by Rs 50 a cylinder, while sparing poor man's fuel kerosene from any increase. The hike will be effective from midnight. The price of petrol, currently Rs 45.5 a litre in Delhi, will now cost Rs 50.5 or 11 per cent more, while diesel, which retails at Rs 31.5, will now cost 34.5 or 9.5 per cent more.

The Cabinet also reduced the customs duty on crude oil from 5 per cent to nil, and on petroleum and diesel from 7.5 per cent to 2.5 per cent. The customs duty on other petroleum products has been reduced from 10 per cent to 5 per cent. Inflation following the fuel price hike may rise by 0.5-0.6%.

Customs duty on other petroleum products like ATF and Naphtha has been cut from 10 per cent to 5 per cent.

The Union Cabinet chaired by Prime Minister Manmohan Singh took a slew of measures to offset the surging global oil prices that had put the national oil companies under acute pressure. The increase in prices would be effective from midnight, Petroleum Minister Murli Deora said.

The price hike would help oil companies to earn Rs 21,123 crore more.

As part of measures, the government decided to take a burden of Rs 94,601 crore for which it will issue oil bonds to state-run BPCL, HPCL and IOC which were reporting a daily loss of over Rs 720 crore.

also read : Impact of increase in fuel prices on inflation

In addition, the oil producing PSUs like ONGC would shell out Rs 60,000 crore through discounts to state-owned oil refiners and marketing companies.

Despite all the measures, there would still be a gap of Rs 29,000 crore, Revenue Secretary P V Bhide told reporters briefing about the decisions taken at the Cabinet.

When asked whether states will also be told to cap sales tax on petrol and diesel, the Revenue Secretary said there is no move from the Finance Ministry side on this issue.

However, sources said the Prime Minister's address to the nation later in the day may carry appeal to states in this respect.

With the hikes, India joins other Asian nations like Indonesia and Malaysia that are raising regulated domestic fuel prices as they find they can no longer afford to shield their consumers from the full effect of record global prices.

Petrol and diesel prices were last raised in February when the Indian basket of crude oil was at 67 dollars per barrel. Today it is at 124 dollars per barrel.

State-run Indian Oil, Bharat Petroleum and Hindustan Petroleum were together projected to lose Rs 2,46,600 crore on sale of petrol, diesel, domestic LPG and PDS kerosene in 2008-09 in absence of any price hike or duty cut.

Sunday, May 18, 2008

Economy of India | Indian Economy Developments

A major factor that contributed to the second most-populous nation on the planet achieving this milestone, in April, was the sharp appreciation of the Indian rupee against the U.S. dollar. Whereas Indian currency has been gradually appreciating against the U.S. greenback over the last few years, what took many by surprise was the sudden and sharp appreciation during the months of March and April when the exchange rate came down drastically, from just under Rs 45 to the U.S. dollar to less than Rs 41 to the dollar or a change of roughly 8.5 percent in less than 40 working days.

By way of contrast, the rupee had appreciated by only 2.3 percent vis-a-vis the dollar between Apr. 1, 2006 and Mar. 31, 2007 (the Indian financial year). In this period, the Indian currency gained 2.7 percent against the Japanese yen but depreciated by 6.8 percent against the euro and by 9 percent against the British pound. The appreciation of the rupee has made Indian exports more expensive in markets where transactions are designated in U.S. dollars while making imports relatively inexpensive.

Analysts are of the view that the Reserve Bank of India (RBI), the country's central bank and apex monetary authority, has consciously allowed the rupee to strengthen as part of a package of policies aimed at controlling domestic inflation. In recent months, inflation in India, as measured by the official wholesale price index, had threatened to cross the 7 percent mark and is currently hovering in the region of 6 percent. The Indian economy is currently one of the fastest growing in the world --it has grown by an annual rate of over 9 percent for two successive years and by an average of over 8 percent over the last four years, both for the first time since the country became politically independent 60 years ago.

At the same time, this growth has not been inclusive because it has bypassed large sections of the population and swathes of territory, mainly in the east and the north. One out of four of the 1.1 billion citizens of India live on less than one U.S. dollar a day. "The reason why the RBI is not intervening in the currency markets to depreciate the value of the rupee is because it wishes to cushion the economy from the imported variety of inflation at a time when international prices of crude oil are in the region of 65 dollars a barrel," explains Amitendu Palit, visiting fellow at the Indian Council for Research on International Economic Relations, a New Delhi-based think tank. India currently imports roughly three-fourths of its requirement of crude oil.

Palit told IPS that part of the reason why the rupee has strengthened against the dollar is because the U.S. currency has itself steadily weakened against hard currencies like the yen, the euro and the pound. He said that if the RBI purchased more dollars to keep its price up, it would increase domestic money supply and add to inflationary pressures. Palit is of the view that a strong rupee would have a negative short-term impact on the growth of "price-elastic' exports such as computer software, IT-enabled services (or business process outsourcing), garments and textiles. During financial 2006-07, India's merchandise exports touched 125 billion dollars, implying an annual growth of nearly 23 percent. Imports grew at a faster 25 percent with crude oil accounting for close to one-third of the total value of imports during the year.

Exports have doubled over the last three years. India's share of world trade, however, still remains negligible, growing from 0.76 percent in 2003-04 to over one percent at present. During this period, inflows of foreign direct investment have jumped from 2.2 billion dollars to 16 billion dollars (and this amount excludes retained earnings that have been reinvested). "I expect the rupee to continue to appreciate gradually, not suddenly, over the next year or so and the dollar to go below the level of Rs 40," says Manoj Pant, professor of economics at New Delhi's prestigious Jawaharlal Nehru University. He told IPS in an interview that the government and the RBI wanted to "send a clear message to exporters that they could not expect to continue receiving preferential treatment".

While there is considerable concern among economists that the Indian economy is "over-heating" and that the benefits of economic growth have not been evenly distributed among all sections of the population, others are optimistic about the country's "growth story". A report prepared by Credit Suisse bank pointed out that over a year after their economies crossed the one trillion dollar mark, eight out of ten countries witnessed bullish trends in their stock markets.

The report added that the combined wealth of the estimated 20 million non-resident Indians is currently more than one trillion dollars, which is the gross domestic product of the entire Indian economy. The recent rise in the rate of growth of the Indian economy has been fuelled by a sharp rise in manufacturing output and the services sector. Among the services that have been growing very fast are IT-enabled services and computer software. These are the segments of the economy that are now likely to be adversely impacted by the appreciation of the rupee.

"Companies that were exporting software and IT-enabled services were shocked by the sudden rise in the value of the rupee vis-à-vis the dollar because the bulk of their business was designated in dollars," points out D.K. Joshi, director and principal economist, CRISIL Ltd. (earlier known as Credit Research and Investment Services of India Ltd.). In an interview with IPS, Joshi added that the "profit margins of companies exporting IT services would be squeezed and they would certainly fight back by increasing their billing rates in dollar terms." Even if the rate of growth of computer software and IT services exporting firms slows down, analysts IPS spoke with were reasonably optimistic that the deceleration brought about by the sudden strengthening of the rupee in relation to the dollar would be a passing phenomenon.

India's commerce minister Kamal Nath has set ambitious export targets of 160 billion dollars and 200 billion dollars respectively for the country over the next two years. He told journalists on Apr. 19 that the Indian government had taken into account the likely slowdown in the U.S. economy while setting these targets. India's trade basket, he said, was quite wide, claiming that the expected slowdown in the U.S. economy would not have a major impact on the country's exports.

Sunday, May 4, 2008

Global Acquisitions by indian firms puts India firmly on major economies

Tata Motors came into global limelight as an automobile major in early 2007 or even earlier when news of the cheapest world car was out of the tata's stable, Launch of tata nano (the $ 2500 car) turned all heds towards the tata motors and every major auto maker now want to replicate the same model but will never able to make a car even cheaper then the Tata's nano due to the cheapest input cost of nano, and the advantage with tata's is that they can use their own homemade steel for making the chasis of their vehicles which other companies have to purchase from other steel companies.
The launch of Tata Nano was much hyped so that the whole world notices the nano and Tata as a global automobile major with a surprise to come later in the year. the world never knew that the year 2007 was year of Tata Motors's brand acquisitions of the JAGUAR and LAND ROVER the iconic british car brands famous through out the world for their excellent cars in luxury car market.

Some still think that tats'a have played much bigger then they can by acquiring JAGUAR and ROVER car companies which were owned by the ford motor company of United states of America.

It may also be recalled that in 2007 the Toyota Motor Corporation surpassed General Motors to become World's number 1 automobile company. Now every car maker want to replicate the Toyota model to make their car company's revenue much larger and Tata's are no exception.

It took 3 decades for the japanese auto maker to enter into the luxury car market .

Toyota is the gold standard that aspiring auto-makers look to. Synonymous with Japanese quality, Toyota got to its premier position in the world auto stakes by a combination of production efficiency, high quality and delivering unsurpassed value to the customer. Toyota fans call a Honda, “a fake Toyota”, seemingly referring to Honda following in Toyota’s footprints and achieving similar status in terms of quality and value. Similarly while a growing company like Hyundai benchmarks its cars against Toyota competitors, a relatively “old-world” company like Volkswagen re-designed its production process based on inputs from Toyota engineers.

Still Toyota did not move beyond its economy and hence cheap image in the Western world till the introduction of its luxury brand, the Lexus. The strategy was such a success that other Japanese auto makers quickly jumped onto the bandwagon. The Lexus strategy had a curious side-effect on the overall Toyota bouquet of products. Unlike how the European companies built their luxury cars, Toyota continued to use the production line using strict quality control to drive efficiency. As a result the luxury cars did not cost significantly more than the regular line-up. While this revolutionized the luxury car market, it also worked wonders for its non-luxury line-up as the superior styling and finish of the luxury models began to rub-off on the rest of the portfolio.

Tata Motors has only taken baby steps towards becoming a global automaker. But the newly-acquired the availability of true luxury brands within the stable allows the company to learn what it takes to give its cars the aspirational value they need to succeed in the Western markets.

In addition to taking design lessons, Tata Motors can also benefit from the world-class R&D facilities, and an established global marketing network. Also while the Jaguar-Land Rover brand image will work wonders for Tata Motors’ own image, there is a danger that it would dilute the value of the British brands. So if the Tatas make it clear that they will treat the new companies as prized possessions that they will take pains to nourish and grow, while also using them as a huge opportunity to learn, then that should allay fears of brand dilution, while keeping the existing jobs and helping the Tatas as they build up their portfolio of vehicles to fill the gap between the SUVs and the luxury vehicles, in terms of both products and aspirational value.

So keep your fingers crossed and wait 2-3 years to see the technology of jaguar and rover brand embedded into indian made tata cars.

Monday, April 7, 2008

Infrastructure Sector, Finance Sector Updates | Indian Economy Updates | India Economic News

Indian Economy Latest Updates :

April 2008 Infrastructure Sector Latest Updates:

Tata's Nano model for apparel may see $ 3bn take rural roads - (19/4/2008)
Greaves Cotton inks deal with German co - (19/4/2008)
Arunachal Pradesh set to have world-class infrastructure - (17/4/2008)
Trucking sector may attract Rs 2 tn investments by 2010 - (17/4/2008)
Policy on greenfield airports soon: Patel - (17/4/2008)
3i beats target to raise $1.2 bn for India Infrastructure Fund - (17/4/2008)
Korean cos keen to set up hub in Haryana - (16/4/2008)
World's 2nd discovery park to come up in India - (15/4/2008)
MMTC to set up chain of warehouses, gems, jewellery SEZ - (14/4/2008)
GVK may spin off energy business into separate co - (14/4/2008)
India-Oman plan JV for core projects - (14/4/2008)
Indus to buy Rs 206 crore equity in Uppal SEZs - (14/4/2008)
Govt expects exports from SEZs to touch Rs 125,000 cr in FY'09 - (11/4/2008)
J & K govt spends Rs 15 crore on road upgradation project - (11/4/2008)
Govt to set up regulator for construction industry - (10/4/2008)
Delhi govt approves 3-level grade separator on NH-4 - (8/4/2008)
Mantri, IL&FS to develop IT SEZ at Nagpur - (7/4/2008)
No takers for Rs 4,000-cr government aid
Nagaland signs 2 pacts with Korean co
Core sector grows by 8.7% in February
Chopper Class: Govt plans airports for helicopters
Green tilt in energy balance
Nagarjuna, Maytas Infra to develop Karnataka airports
IVRCL bags orders worth Rs 484 cr
India set to sign transport project agreement with Myanmar

Indian Economy - Finance Updates April 2008 :

PE deals fall apart in M&A Street
MBGB exceeds Rs 2 cr business per employee target: CMD
Azad takes up sop exemption issue with PM
CRR hike would put upward pressure on interest rates: PHDCCI
Punjab, Haryana project Rs 650 cr loss due to CST cut
J&K to sanction Rs 207 lakh subsidies to 32 industrial units
FDI outflow doubles to $18 bn during Apr-Dec
Home, retail loan rates likely to rise following CRR hike
Bankers to wait till RBI policy before taking call on rates
RBI hikes CRR by 0.5 per cent to control inflation
India's FY-08 indirect tax receipts at Rs 2.79 tn
FIIs cut exposure in Indian equity markets
US Eximbank approves $2.2 billion program for India
I&B ministry gets Rs 1,910 crore for the current fiscal
A repo rate hike by RBI likely, says BoI chief
Fertiliser subsidy bill to rise to Rs 1 lakh crore: Paswan
Haryana collects Rs 10,000 crore as taxes last fiscal
Banks in a spot as govt sits on crop-loan interest subsidies
Capital goods sector earnings may slowdown in Q4: Analysts
Banks board slow coach as credit growth slips to 24% in 2007-08
Coal India pays Rs 1,705.42 cr dividend to govt
Direct tax collections surpass target in West Bengal region
Overseas borrowings drop to less than $1 bn in February - (9/4/2008)
NABARD Focus paper estimate credit flow of Rs.37,546 crores - (8/4/2008)
Finance Ministry approves new Rs 50,000 cr APDRP scheme - (8/4/2008)
Foreign fund restrictions to boomerang: Raghuram panel
Grant Rs 5,000 cr for setting up SEZs in JK: Assocham
CRR hike may leave banks with little to lend
10 lakh backward class families benefit from NBCFDC loans
JPMorgan's John Coyle joins Permira
Indian investors get more room to diversify abroad
WB, ADB may lend directly to urban bodies
India raises overseas investment limit for funds
'India needs $500 nn investment to sustain growth'
Centre releases Rs 65 cr to revive lakes in J&K
Refund claims may rise on derivatives losses
'India important source of FDI in US'
Microcredit raises hopes for farm widows
Retail sector may get service tax relief
BJP seeks Rs 1,000 cr relief package from Centre
CST phaseout to miss deadline
Repo rate, CRR hike on cards
DA announced for Punjab employees

Indian Economy Updates | Latest agriculture / trade News

April 2008 Indian Economic Updates :

Agriculture April 2008 Latest Updates :

Mizoram govt distributes paddy seeds to farmers free of cost - (18/4/2008)
Govt pressed to compensate farmers - (17/4/2008)
Karuturi Global to buy Dutch firm Florinex - (17/4/2008)
Rs 25kcr plan to boost farm output: Pawar - (16/4/2008)
Poll-bound states likely to put stock limits on wheat - (16/4/2008)
Rain & hail may set wheat prices on fire - (15/4/2008)
Agriculture needs investments to handle supply issues: IDBI - (15/4/2008)
Govt may meet wheat target as pvt players shy away from buying - (14/4/2008)
20 farm suicides in three days in Vidarbha - (13/4/2008)
Need to raise loan waiver upto 10 hectares farm land:Coop body - (13/4/2008)
Potato farmers struck by distress sale - (13/4/2008)
Expert expects potato prices to stabilise at Rs 5-6 a kg - (13/4/2008)
Maharashtra's sugar output to dip by 6%, export up by 42% - (13/4/2008)
Efforts being made to get more rice from central pool, AP - (12/4/2008)
Haryana to launch campaign for seed treatment - (12/4/2008)
Cashew corp to launch health drink, soup - (12/4/2008)
Govt may allow premium non-basmati exports: Exporters - (11/4/2008)
Country needs higher pulses imports in FYO9: Trader - (11/4/2008)
Basmati seen steady in tight market - (11/4/2008)
World sugar prices seen at 12-15 cents/lb: ISO - (11/4/2008)
Big cos may prefer MP, Rajasthan to Punjab for wheat lifting - (10/4/2008)
NABARD gears up to start farmers' loan waivers by June - (9/4/2008)
Rs 393.33 cr in crops lost due to Kerala rains - (8/4/2008)
2008 wheat output to top 75 mn tonnes - (8/4/2008)
Govt not to raise wheat procurement price: Pawar - (7/4/2008)
Orissa govt to soon declare new agriculture policy - (7/4/2008)
Untimely rains may hit mango production, price rise likely - (6/4/2008)
Wheat crop under threat as widespread rain lashes region - (6/4/2008)
FAO predicts increased rice production in Asian countries - (3/4/2008)
Soaring food prices to help farmers - (2/4/2008)
Non-basmati export ban decision hasty: Exporters - (2/4/2008)
Higher wheat crop globally to check prices - (2/4/2008)
Changing food habits fuelling demand for wheat: Pawar - (1/4/2008)
MNRE submits draft composition for National Biofuel Dev Board - (1/4/2008)
Punjab govt announces Rs 16.35 crore relief for farmers - (1/4/2008)
Mango production to go up 12 pc this year- (31/3/2008)

April 2008 Trade with Foreign Updates :

India wants better connectivity with Bangladesh - (20/4/2008)
Trilateral alliance not aimed at creating power bloc: India - (19/4/2008)
Canada calls for stronger economic ties with India - (19/4/2008)
India wants two-way trade with US: Ronen Sen - (19/4/2008)
US small business agency to promote exports to India - (19/4/2008)
US housing slump hits India's furniture exports - (19/4/2008)
India to import 80 lakh tons of urea this year: Paswan - (18/4/2008)
India, Mexico sign agreements in civil aviation, energy - (18/4/2008)
WTO ministerial on May 19 to help wrap up Doha talks - (18/4/2008)
India questions US legislation on scanning all imports - (17/4/2008)
Indo-US business unaffected by rupee rise, sub-prime crisis - (10/4/2008)
Indo-Malaysia trade opportunities galore - (10/4/2008)
Schemes to be launched for promoting ornamental fish export - (9/4/2008)
India, UK SMEs eye tie-ups ahead of Commonwealth, Olympics - (9/4/2008)
Russia seeks enhanced economic ties with India - (9/4/2008)
India to export about 2.1 mlnT of corn by May '08 - (9/4/2008)
Oilmeals export earning jumps 65% to Rs 7,109 cr in FY'08 - (8/4/2008)
India, Kazakhstan to get into projects-specific mode in oil sector - (8/4/2008)
There's tremedous potential for growth of US-India trade: US - (8/4/2008)
India's ties with Africa distinct from others - (7/4/2008)
EU, US renew pressure on India's import ban on animal products - (7/4/2008)
India-Africa trade can touch $50 billion by 2012: FICCI survey - (7/4/2008)
Govt to facilitate cement import from Pakistan - (7/4/2008)
Cross-border Indo-Pak trade along LOC on the anvil - (7/4/2008)
Exporters should change biz models,cut dependence on govt: Survey - (6/4/2008)
Seafood exports from India registers 12 pc fall - (5/4/2008)
WTO calls off Doha trade meeting planned for April - (5/4/2008)
Qureshi hints at reassessing no-Indian investment policy - (4/4/2008)
CSEZ achieves 70 per cent growth in exports - (4/4/2008)
'India-Africa summit will boost South-South cooperation' - (4/4/2008)
Govt withdraws sop on basmati rice export to check inflation - (4/4/2008)
India, Myanmar inks double taxation avoidance treaty - (3/4/2008)
US embarking on global energy ties with India - (3/4/2008)
India agrees to supply rice to crisis ridden Sri Lanka - (3/4/2008)
India asks developed nations to end protectionism - (3/4/2008)
India sugar exports to fall in next crop year: LMC - (3/4/2008)
India-Australia tie-up on cards for flexible GI shield - (3/4/2008)
Sugar exports to dominate trade conference - 1/4/08

Saturday, April 5, 2008

Inflation to soar further, likely to touch 7.5 % mark

ASSOCHAM on Saturday predicted that it would continue to soar for next three to four months, and may even touch the 7.5 per cent mark.

"The Wholesale Price Index (WPI) based inflation rate which is already at the highest in the last three years, could even surpass the 7.5 percent mark," predicts ASSOCHAM President Venugopal Dhoot.

In order to check inflation, the Cabinet Committee on Prices (CCP) chaired by Prime Minister Manmohan Singh on Monday, decided to abolish import duty on all crude edible oils, including palm and soya, and banned the export of non-basmati rice and pulses to contain inflation.

The Central Government also decided to raise the Minimum Export Price of basmati rice to 1,200 dollars per ton from 1100 dollars, to balance the demand " supply in the domestic market and to cut import duty on butter and clarified butter (ghee) from 40 per cent to 30 per cent, besides, the 15 per cent import duty on maize was abolished, applicable on import of up to five lakh tons.

The CCP also advised states to impose limits on stocks of commodities under the Essential Commodities Act, besides asking steel producers not to raise prices.

The study done by the business conglomerate also reveals that the Central Government's efforts to contain inflation will come start-yielding results by August when inflation is likely to fall at of four per cent.

Experts believe that after all possible measures taken by the government, now, everyone is waiting for Reserve Bank of India's (RBI) annual credit policy that will be revealed on April 29.

The industry body has asked the RBI to increase the interest rates, specifically the Cash Reserve Ratio (CRR) to restrain liquidity.

The problem of inflation doesn't seem to be India-centric with China too struggling with a rising inflation rate of over nine percent.

According to analysts, the announcement of Sixth Pay Commission recommendations, and provisions for enhanced expenditure on social sectors in the Budget 2008-09 coupled with rising crude oil prices have also raised expectations about high inflation.

Tuesday, April 1, 2008

Indian Economy - Rupee v/s US $ daily trends - April 2008

Daily rupee trends against US $ date wise for april 2008 (at stock market closing time):

24/4/2008 : (Rs v/s US $) - 39.95 - Down(-0.01)

19/4/2008 : (Rs v/s US $) - 39.96 - Down(-0.17)

17/4/2008 : (Rs v/s US $) - 39.79 - Up^0.16

16/4/2008 : (Rs v/s US $) - 39.95 - Down(-0.11)

15/4/2008 : (Rs v/s US $) - 39.84 - (No change)

14/4/2008 : (Rs v/s US $) - 39.84 - Up^0.10

11/4/2008 : (Rs v/s US $) - 39.94 - Down(-0.10)

10/4/2008 : (Rs v/s US $) - 39.84 - Up^0.18

9/4/2008 : (Rs v/s US $) - 40.02 - Up^0.09

8/4/2008 : (Rs v/s US $) - 40.11 - Down(-0.14)

7/4/2008 : (Rs v/s US $) - 39.97 - Up^0.06 (wrt 6/4/08 rates)

4/4/2008 : (Rs v/s US $) - 39.97 - Up^0.11

3/4/2008 : (Rs v/s US $) - 40.08 - Down(-0.09)

2/4/2008 : (Rs v/s US $) - 39.99 - Down(-0.02)

1/4/2008 : (Rs v/s US $) - 39.97 - Up^0.14

Sunday, March 30, 2008

Indian Business | Health Care / Biotech Sector Updates

Health care, biotech and Pharmaceuticals sector are vital sectors of indian economy anh latest updates are available here for both these sectors also update yourself with latest updates from Auto Sector Updates, Jobs Sector Updates, Energy Sector Updates, Media sector Updates , Entertainment Sector Updates , Telecom Sector Updates , Banking Sector Updates , Finance Sector Updates , Healthcare Sector Updates , Biotech Sector Updates , Pharmaceuticals Sector Updates - and get the comprehensive news about growth of indian economy.

Health Care Sector Latest Updates:

Avesthagen launches bioactive Teestar - (23/4/2008)
Biodiversity loss will wipe out cures: Experts - (23/4/2008)
Biocon launches stand alone cardiology division - (22/4/2008)
MakroCare announces the completion of Oracle Clinical Implementation - (22/4/2008)
GCC investors plan medical city in India - (22/4/2008)
ArcelorMittal plans a string of health centres in India - (21/4/2008)
Delhi govt in talks with Fortis, Apollo for emergency services - (19/4/2008)
Prozac might cure lazy eye, say scientists - (19/4/2008)
Bombay hospital introduces ozone therapy for patients - (14/4/2008)
Yash Birla to enter domestic health & wellness market - (14/4/2008)
India's public healthcare in serious decline: Planning Commission - (13/4/2008)
India's foray into telemedicine faces difficulties - (13/4/2008)
Opto Circuits completes acquisition of Criticare Systems - (11/4/2008)
Goa-based Sangath wins $350,000 MacArthur grant - (11/4/2008)
Ranbaxy, DBT signs agreement for joint research - (9/4/2008)
Suven Life Science enters into deal with Chinese company - (8/4/2008)
Opto Circuits acquires majority stake in Criticare Systems - (8/4/2008)
Planning Commission paints grim picture of healthcare
Jubilant Organosys acquires Canada's Draxis for $255 mn
Ayurvedic Association agreement with American Herbal Association
Wockhardt Hospitals to raise funds through PE
Manipal Cure to invest Rs 300 cr for expansion
US co GHIS plans $500 mn fund for healthcare sector in India
Dr Reddy’s buys Italian generics firm
Apollo Hospitals to set up 25-30 maternity centres
Govt may use compulsory licensing for drug companies only in emergency
RFCL to acquire Germany's Bremer Pharma GmbH
Realty players woo healthcare firms to meet govt norms
Suven receives two product patents associated with Neurodegenerative
Medical parks will be built across the country: Health Minister
6 still in pipeline, Ramadoss plans 2 more 'AIIMS'
R-ADAG plans medical cities across country
US seeks India's help to improve global healthcare
Lifeline health insurance launched in kerala
Lifeline Group of Hospitals signs MoU with Zambian govt
Piramal Diagnostic eyeing acquisitions
Suven Life Sciences, US co enter deal on pre-clinical research
Polio project to be reviewed: Health Minister
Max New York Life Insurance makes foray into health sector
Reliance Life Insurance launches Reliance Wealth + Health Plan
Manipal group to buy 40% in Kerala hospital for Rs 100 cr
Fresenius Kabi to expand product portfolio in India
Country's first hi-tech TomoTherapy system installed
CII welcomes allocation to health sector in annual budget
Budget provides an incentive for quality healthcare
Government extends 5 yr tax holiday for all hospitals
Shasun Chemicals enters non-exclusive deal with Merck

Update yourself with Biotech Sector Latest Updates:

Asia gets its first Bio Safety Level-4 facility - (23/4/2008)
Biocon to buy US firm for $400 mn: Report - (14/4/2008)
Biocon eyes more buys to boost growth - (27/2/2008)
India to develop microbicides at earliest: Ramadoss
Biocon picks up 70% in German pharma co AxiCorp for e30 mn
Biotech cos raise record $9.1 bn venture capital
ICGEB joins with US based group to develop vaccines
Biotech industry urges government to `Walk the Talk'
New biochip technology may eliminate animal testing
Bengal to rope in biotech giants
Scientists spot gene behind alcoholism
Biocon to launch oral insulin drug by 2010
Glenmark eyes Indonesian co

Latest Updates from Pharmaceuticals Sector :

Lupin's Japanese arm gets nod to sell 10 products - (25/4/2008)
Aventis to launch three new drugs in 2008 - (24/4/2008)
Promotional expenses of pharma cos to be capped - (24/4/2008)
PEs, banks in talks to buy stake in SRL Ranbaxy - (24/4/2008)
Fresenius Kabi makes open offer to buy 20% of Dabur Pharma - (23/4/2008)
Lupin enters gynaecology segment - (23/4/2008)
Ranbaxy net up 7% to Rs 153 cr - (23/4/2008)
HC restrains Cipla from exporting anti-cancer drug - (23/4/2008)
Five pharma companies to face legal action - (23/4/2008)
Ranbaxy in strategic alliance with Orchid Chemicals - (23/4/2008)
Sale of fine chemicals unit props Glaxo Pharma profit - (22/4/2008)
US-based Merck to double workforce by year-end - (22/4/2008)
GlaxoSmithKline Pharma to launch more vaccines in India - (22/4/2008)
Fresenius Kabi to invest $70 mn, announces open offer - (22/4/2008)
Pharma sale would expedite the growth of firm - (21/4/2008)
German co Fresenius Kabi picks up 73% in Dabur Pharma - (20/4/2008)
Singapore firm to acquire 73.27% stake in Dabur Pharma - (19/4/2008)
Pharmas give wrong prescription, can't barter cheap drugs with policy - (19/4/2008)
Domestic growth may lift Q4 pharma margins - (18/4/2008)
Mankind plans IPO to raise Rs 400 cr for cape1x - (17/4/2008)
RFCL launches manufacturing facility in Haridwar - (16/4/2008)
Ranbaxy strikes deal on Nexium with AstraZeneca - (16/4/2008)
Nicholas Piramal buys two brand groups from Khandelwal Labs - (15/4/2008)
Nicholas Piramal plans Rs 1.16 bn brand buys - (15/4/2008)
Ranbaxy to sell ulcer drug Nexium in US - (15/4/2008)
Astra settles Nexium patent dispute with Ranbaxy - (15/4/2008)
Drug firms seek to trade off controls - (15/4/2008)
Price regulator wants pharma cos to pass on duty cut benefits - (14/4/2008)
Strides Arcolab promoters hike stake to 21% - (14/4/2008)
India to see 8% growth in drug sales annually - (14/4/2008)
Solrex close to triggering open offer in Orchid - (13/4/2008)
Orchid Chemicals sees $100 million sales from Japan in 5 years - (10/4/2008)
No hostile intentions on Orchid: Ranbaxy - (10/4/2008)
Dabur Pharma to supply anti-cancer drug to Thailand - (9/4/2008)
Ranbaxy, Biotech Department in new drug discovery deal - (9/4/2008)
Orchid owners have option to convert warrants to equity - (9/4/2008)
Orchid MD denies meeting Malvinder - (9/4/2008)
Orchid may use warrants as defence - (9/4/2008)
Ranbaxy to market Amlodipine tablets in Japan - (8/4/2008)
Ranbaxy picks up 9.54% stake in Orchid Chemicals - (8/4/2008)
Novartis buys stake in Nestle eyecare unit for $11 bn - (8/4/2008)
CD Pharma to introduce 4 drugs in India with licence agreement
Nicholas Piramal expecting 35% growth from Baddi plant
Fortis Group cos SRL Ranbaxy & Fortis Healthworld planning stake sale to PEs
Govt creating database of traditional Indian drugs
Dr. Reddy's buys Italy's Jet Generici
Ranbaxy launches Bio-generic injectable for Osteoporosis
Dr Reddy's to acquire part of Dowpharma business
RFCL acquires Bremer Pharma
Guardian Lifecare in talks to raise Rs 100 cr
Sun Pharma launches generic Ethyol in US
Sun Pharma launches Amifostine for injection 500mg
NGO to seek compulsory licensing of cancer drugs
Herbal mkt to grow to Rs 14,500 cr by 2012: Assocham
Ranbaxy’s 2007 dividend goes up to 170%
Jupiter Bioscience eyes acquisitions in US, Europe
Role of CFOs in Pharma Cos undergoing transformation: E&Y
Pfizer again sues Ranbaxy over Lipitor
Aurobindo to be on prowl again in EU
Ranbaxy, Cipla among Indian cos in race for $200 mn drug deal
Arch Pharmalabs Ltd changing horizons
Cipla gets Rs 62 cr interest demand from NPPA
Aurobindo Pharma acquires Italian company
Sun Pharma gets US FDA nod for benzonatate
Vitabiotics to launch 3 OTC brands in India
Govt all set to fix profit margin for chemists
Pharma MNCs losing turf to Indian companies
Natco plans copy of Roche cancer drug
Sun Pharma gets USFDA nod for anti-cough drug
Cipla scores a generic win over Roche
Ranbaxy fights NPPA's price control move
Sun Pharma gets FDA nod for generic Cerebyx
Delhi HC refuses relief to Swiss Company La Roche against Cipla
Sun Pharma gets USFDA approval for fosphenytoin sodium injection
US wants FDA inspectors stationed in India
Strides Arcolab gets approval for Fosphenytoin injection
Ranbaxy to introduce INERSAN brand in India and Nepal
Ranbaxy Labs enters deal CD Pharma to market INERSAN
Accenture to expand lifesciences R&D unit
Glenmark Pharma gets US marketing rights for Clobetasol Propionate
Sun Pharma gets USFDA approval to market generic Ethyol
Retail pharma logs 13.9% growth in Jan
IOL Chemicals to invest Rs 300 cr in next one year
US FDA approves Glenmark's Nabumetone & Hydroxyzine Hydrochloride

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Economy of India | Indian Economy Developments

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Infrastructure Sector, Finance Sector Updates | Indian Economy Updates | India Economic News

Indian Economy Updates | Latest agriculture / trade News

Saturday, April 5, 2008

Inflation to soar further, likely to touch 7.5 % mark

Tuesday, April 1, 2008

Indian Economy - Rupee v/s US $ daily trends - April 2008

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Indian Business | Health Care / Biotech Sector Updates

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