Indias GDP likely to expand 7.9% in FY'17: Ind-Ra
The Dollar Business Bureau Driven by factors like focus on ‘make in India’ and improving ease of doing business, India’s gross domestic product (GDP) is likely to expand by 7.9% in the next financial year, more than 7.4% in the current fiscal, India Ratings and Research (Ind-Ra) has projected. The country’s all three broad production sectors—agriculture, industry and services— are expected to grow in FY17, although gradually. “This will make India the fastest growing major economy in the world”, the agency said. “While agriculture might get a boost from a normal monsoon in 2016, industry will benefit from (i) various announcements made in the FY15 and FY16 budgets to address the structural issues plaguing industrial/infrastructure sector, (ii) focus on ‘Make ...
Global slowdown had little impact on Indias export volume
The Dollar Business Bureau Despite continuous slide in Indian merchandise exports for the past 10 months, the demand for Indian products in terms of volume may not have suffered during the period, said research firm India Rating and Research (Ind-Ra). The agency attributed the downward trend in exports value to the sharp fall in global commodity prices and euro value. In September this year, India’s merchandise exports witnessed a fall of 15.1% year on year in terms of US dollars. During the same period, the average value of euro fell by more than 17%. “The volume demand for Indian exports may not have suffered significantly during the period. In fact, export volumes in certain categories such as automobiles continued to increase,” ...
Commercial vehicle loans ride on drop in diesel price, positive industrial growth
The Dollar Business Bureau Commercial vehicles loan seems to be on the recovery path, thanks to falling diesel prices and rising industrial growth, a study has said. According to India Ratings and Research (Ind-Ra), the Early Delinquency Index (EDI)— a tool to measure the frequency of loan default cases— has come down to 7.19% in February 2015 from 8.05% in the same month last year. Transactions securitised in 2014 have shown better performance with initial 90-plus days past due delinquencies (DPD) being on a lower level than that witnessed in 2013 vintage transactions. On the other hand, loans on construction equipment remain stressed mainly due to the slow growth rate in mining and infrastructure sectors. In February, weighted average ...
Next fiscal likely to open up new export markets for Dairy Industry
Jayarama Emani | The Dollar Business “The global dairy market is in turmoil. One of the reasons for this turmoil is the new strategy adopted by China lately,” said India Ratings & Research (Ind-Ra), a credit rating agency. In its latest report on Indian Dairy Industry released on March 19, 2015, Ind-Ra said that China instead of importing milk and milk items is increasingly meeting its dairy demand by buying up diary assets in New Zealand. This is similar to the strategy China adopted earlier with respect to sourcing of natural resources to meet its domestic demand. India’s dairy exports haven’t performed well during the first eight months of FY15 due to a drop in international prices backed by lacklustre international demand, rising domestic ...
