Search Result for : Consumption

The Dollar Business Bureau  India’s economic growth declined to 6.1% in the last quarter of January-March 2016-17, a four-quarter low, mainly due to adverse impact of demonetisation on economic activity. The GDP growth was 8% the same quarter a year ago.  After taking out indirect taxes, the figures seem to be grimmer. Gross value added (GVA), grew by just 5.6% in the fourth quarter — the lowest in nearly eight quarters, as per the official data released on Wednesday.  GVA is the difference between GDP (gross domestic product) and net indirect taxes.  The impact of note ban was evident in the data, with the growth being mainly supported by government spending and agriculture. In the given quarter, except government spending and agriculture, GVA grew only 3.8%, down from 8.4% in first ...

The Dollar Business Bureau With the demand rising in the country for cooking fuel, India for the first time signed a deal for importing liquefied petroleum gas (LPG) from Iran. The Government-owned oil companies will import 44,000 tonnes or one very large gas carrier (VLGC), per month initially for a period of six months, according to industry sources. Every month, India has to import around a million tonnes of LPG in order to meet the growing demand which has further been driven by the government initiative to provide free connections of gas to poor women. In 2016-17, consumption of LPG in India increased by 9.8% to 21.55 million tonnes. Out of this, the country had imported 11 million tonnes. India largely imports LPG through term contracts ...

The Dollar Business Bureau Buoyed by improved performance in all major export sectors, Malaysia’s exports grew 24.1% year on year during March 2017. Beating expectations, the South-East Asian economy boasted a double-digit growth in exports for the fourth consecutive month since December 2016. As stated by the Ministry of International Trade and Industry, Malaysia (Miti), exports surpassed economic forecasts of a 20% growth by a significant margin. Explaining the ‘outstanding trade performance in March 2017’, a media release by Miti read, “Malaysia’s trade continued its strong momentum in March 2017, expanding by 31.1% to RM159.86 billion compared with the year before. Higher trade was seen with ASEAN, China, the United States of America (USA), the European Union (EU), the Republic of Korea (ROK) ...

PTI The Godrej group, with three companies in its fold, is looking for acquisitions in developing countries of Asia, Africa and South America. "We are giving a strong emphasis on inorganic growth. We are also looking to acquire businesses in the developing countries of Asia, Africa and South America," Chairman of Godrej group Adi Godrej said. He said the group had already acquired some businesses in the past few years, adding that organic growth had suppressed of late. Spelling out the group's vision of ten times growth in ten years, he said the acquisitions would be mainly in the personal and household care segments. "There is no budget fixed for acquisitions. We hope to fix the deals this financial year," Godrej told ...

Source: PTI  Upbeat about a rise in aluminium consumption in India, Navaratna PSU Nalco is all set to invest Rs.30,000 crore in various projects in the next five years. “Nalco plans to invest to the tune of Rs.30,000 crore in the next five years,” Nalco’s CMD Tapan Kumar Chand said in his Republic Day message, adding that a Rs.6,000-crore refinery project in Damanjodi is on the anvil too. “Sunny days are ahead for aluminium industries as consumption in the country is slowly picking up against the backdrop of an increase in GDP to 7.5% this fiscal and availability of consumption potential of more than three multiples,” the CMD said. Noting that the average consumption was 2.2 kg in India as against the global 8 kg ...

The Dollar Business Bureau India imported more than 4.5 million tonnes of pulses worth around Rs.17,000 crore during FY2014-15, registering an increase of almost 55% from the total value of inbound shipment of previous year. According to the government data, the country’s total pulse imports stood at 31.77 lakh tonnes worth around Rs.11,000 crore during 2013-14. Decrease in pulse production from 19.25 million tonnes in 2013-14 to 17.38 million tonnes during last year within the country and a slight increase in consumption led to a sharp rise in the imports. “Shortfall in production of pulses is met through import,” Minister of State for Agriculture Mohanbhai Kalyanjibhai Kundaria told the Parliament in response to a query. However, continuous rise in demand of various ...