Matthias's Feed
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
Dec 9, 2011

Government admits $9 billion export gaffe

NEW DELHI (Reuters) – Already battered by corruption scandals, and less than a week after an embarrassing policy U-turn, the government admitted on Friday that it had accidentally inflated this year’s export figures by more than $9 billion.

The cause was a glitch in the computer system that collates the trade data, Trade Secretary Rahul Khullar told reporters. Months of export and trade deficit data have had to be revised.

Dec 9, 2011

India admits $9 billion export gaffe

NEW DELHI, Dec 9 (Reuters) – Already battered by
corruption scandals, and less than a week after an embarrassing
policy U-turn, the Indian government admitted on Friday that it
had accidentally inflated this year’s export figures by more
than $9 billion.

The cause was a glitch in the computer system that collates
the trade data, Trade Secretary Rahul Khullar told reporters.
Months of export and trade deficit data have had to be revised.

Dec 9, 2011

Govt cuts growth f’cast, warns on balance of trade, deficit target

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 7.5 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.