Matthias's Feed
Feb 2, 2012

India team to seek boost in Iran imports for oil

NEW DELHI, Feb 2 (Reuters) – India will send a
delegation to Iran this month to explore boosting exports to
smooth use of the restricted rupee currency, which the two sides
have agreed to use for 45 percent of New Delhi’s $11 billion a
year oil bill, sources told Reuters.

India is currently paying Iran for the oil through Turkey’s
Halkbank after a previous mechanism was closed 13
months ago, but fears that route may also succumb to
international pressure.

Jan 29, 2012

Punjab, bread basket of India, hungers for change

LUDHIANA, India (Reuters) – Punjab made Sunil Jain’s family rich, but now he wishes he could afford to leave.

Almost every day, the lights go out and machines shut down at the two factories of his $3-million-a-year packaging business in the northern India state. When the power goes out, the plants have to use generators, at up to three times the cost.

Jan 16, 2012

Exports pick up but “difficult year” ahead

NEW DELHI (Reuters) – India’s exports accelerated in December as demand for its vehicles, engineering goods and petroleum products remained robust, but global economic uncertainty will likely make 2012 a difficult year, Trade Secretary Rahul Khullar said on Monday.

Asia’s third-largest economy will come close to meeting its target of about 20 percent export growth for the fiscal year ending March, helped by a sliding rupee that could make Indian products more competitive, Khullar added.

Jan 16, 2012

India’s exports pick up but “difficult year” ahead

NEW DELHI, Jan 16 (Reuters) – India’s exports
accelerated in December as demand for its vehicles, engineering
goods and petroleum products remained robust, but global
economic uncertainty will likely make 2012 a difficult year,
Trade Secretary Rahul Khullar said on Monday.

Asia’s third-largest economy will come close to meeting its
target of about 20 percent export growth for the fiscal year
ending March, helped by a sliding rupee that could make Indian
products more competitive, Khullar added.

Jan 10, 2012

Restrictions on FDI in single-brand retail lifted

NEW DELHI/MUMBAI (Reuters) – India formally eliminated restrictions on foreign investment in its single-brand retail sector on Tuesday, opening the door to the likes of Swedish furniture giant IKEA to open stores in Asia’s third-largest economy.

Foreign retailers that want to invest beyond the previous cap of 51 percent ownership will need to source 30 percent of their goods from small and village industries, said the government, which faces five state elections in the next few months.

Jan 10, 2012

India lifts restrictions on FDI in single-brand retail

NEW DELHI/MUMBAI, Jan 10 (Reuters) – India formally
eliminated restrictions on foreign investment in its
single-brand retail sector on Tuesday, opening the door to the
likes of Swedish furniture giant IKEA to open stores
in Asia’s third-largest economy.

Foreign retailers that want to invest beyond the previous
cap of 51 percent ownership will need to source 30 percent of
their goods from small and village industries, said the
government, which faces five state elections in the next few
months.

Dec 16, 2011
Dec 15, 2011
Dec 14, 2011

India cuts growth forecast, warns on trade balance, deficit

NEW DELHI (Reuters) – India slashed its full-year growth forecast on Friday amid slowing domestic and global demand, with officials warning the government was facing a serious balance of trade problem and will have a tough time meeting its fiscal deficit target.

Asia’s third-largest economy is now expected to grow by 7.25 to 7.75 percent in the fiscal year ending next March, the government said in a mid-year review, down sharply from an estimate of 9 percent issued in February.

Dec 13, 2011