Search Result for : Industrial Growth

By Abin Daya Dropping inflation and dropping industrial growth – signs of a slowing economy? It might be too early to tell, but it definitely has raised calls from multiple quarters, even from within the government for a rate cut by RBI. We will have to wait and see if the regulator obliges, as there is one school of thought that the low CPI inflation is due to the high base of last year, and hence RBI might wish to wait and see for a couple of months more. Policy announcements have a habit of going against expectations in the recent past, hence we will refrain from making any predictions on the same. This week we talk about the two inflations – ...

The Dollar Business Bureau One of the top major ports in the country, the VO Chidambaranar (VOC) Port and Tamil Nadu’s Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) inked an agreement today to increase the capacities of two coal jetties at the port four-fold to 24 million tonnes for Rs 800 crore. The pact will upgrade two coal jetties at VOC Port - Jetty I and II -- from 6.25 MTPA (million tonne per annum) to 24 MTPA. The Ministry of Shipping in a press a statement said: "The VOCP Trust signed a Memorandum of Understanding with Tamil Nadu Generation and Distribution Corporation Limited (TANGEDCO) for the upgradation of Coal Jetty I and II.” The Minister for Shipping Nitin Gadkari said that coal ...

The Dollar Business Bureau The automobile and production hub of Europe, Germany, boasted a 2.2% growth in economic output in the month of February, 2017. Underpinned by an increased domestic and global demand for machinery and automobiles, Germany's exports rose by 0.85, while imports declined by 1.6% - the result being a swelled trade surplus of 21.0 billion euros, up from 18.9 billion euros  in the month of January. This was a robust start of the year for Germany, indicating that the economic ramifications of the 2008 financial crisis have been left far behind. Meanwhile, the industrial output of UK showed signs of slowing, as the uncertainty around Brexit catches up with its economy. The strong economic growth in Germany will give added thrust to Chancellor ...

The Dollar Business Bureau Things seem to be looking good for the automobile industry in India. The Society of Indian Manufacturers (SIAM) released optimistic growth figures of car and passenger vehicles sales in August. According to SIAM, Domestic passenger vehicle sales grew 16.68% to 2,58,722 units in August from 2,21,743 units in the same month last year. Car sales were also up  by 9.53% to 1,77,829 units as against 1,62,360 units in August last year. Motorcycle sales also jumped last month by 22.19% to 10,05,666 units as against 8,23,051 units a year before. In all the two wheeler segment sales in August grew 26.32% to 16,48,883 units compared with 13,05,248 units in the same month a year ago. The sales of commercial vehicles rose by 1.53% ...

The Dollar Business Bureau Indian GDP growth is estimated to grow at 7.7% for the financial year 2016- 17 as per the Economic Outlook Survey conducted by the Federation of Indian Chambers of Commerce and Industry (FICCI). The growth is likely to be supported by the enhanced performance in the agricultural and industrial sectors. After two years of drought, the prediction of good monsoon this year is the main reason behind the positive outlook for this fiscal.  The agriculture sector is projected to grow at 2.8%, the industrial sector is expected to grow at 7.1%, and the services sector is poised to grow at 9.6% in FY 2017, according to the survey. The forecasts for inflation is based on Wholesale Price Index (WPI) ...

Source: PTI   The performance of consumer goods segment was also dismal as it recorded a meagre growth of 0.4 per cent in March compared to a contraction of 0.6 per cent a year ago. During 2014-15, the output of these goods grew at 3 per cent compared to a decline in production by 3.5 per cent. However, consumer durables performed well and recorded a growth of 8.7 per cent in March this year compared to contraction of 4.6 per cent. During the entire fiscal, the output of these goods grew by 11.2 per cent compared a decline in production by 12.6 per cent. The consumer non-durable goods output contracted by 4.4 per cent in March compared to a growth of 1.9 per cent ...

The government hopes to mobilise investments in 116 investible projects identified already Source: PTI The CM said that the state would reach the targets set in the new 2014-19 industrial policy, one year ahead of the timeframe   Betting big on the upcoming global investors meet, the Karnataka government is looking to attract twice the Rs.1.30 lakh crore investment it has wooed in the last two years. Ahead of the three-day mega event, Invest Karnataka 2016, beginning in Bengaluru on February 3, Chief Minister Siddaramaiah told reporters that with a thriving eco-system for investment the state’s expectations were “realistic”. Several mega investment projects would be announced at the meet. Besides, the government hopes to mobilise investments in 116 investible projects identified ...

The Dollar Business Bureau India's infrastructure sector output grew by 2.6% in August 2015 despite a sharp decline in steel production, according to the data released by the Ministry of Commerce & Industry. The infrastructure sector constitutes nearly 38% of India's total industrial output. Of the eight core sectors, fertilizer production witnessed the maximum increase of 12.6 %, mainly due to the growing domestic demand. “Coal production (weight: 4.38 %) increased by 0.4 % in August, 2015 over August, 2014. Its cumulative index during April to August, 2015-16 increased by 4.6 % over corresponding period of previous year,” the data said. Crude oil production went up by 5.6 % in August this year over the same month of last year. ...