Industrial production down 3.2%, inflation up for fifth straight month
The Dollar Business Bureau India’s industrial production registered a 3.2% decline in November last year as compared to the corresponding period of 2014, a government data said on Tuesday. The contraction was mainly due to a sharp decline in the manufacturing sector, which constitutes over 75% of the index. The sector’s output shrank by 4.4% in November 2015 as against a growth of 4.7% in the same month last year. The capital goods output also shrank by 24.4% in November 2015 compared to a growth of 7% in the corresponding month of previous year. Though the Index of Industrial Production (IPP) had expanded by 5.2% in November 2014, the cumulative growth for the period April-November 2015 over the corresponding period ...
Indias industrial output up 4.8% during April-Oct
The Dollar Business Bureau To improve ease of doing business, the government has set up an investor facilitation cell, e-biz mission mode project and liberalised policy for industrial license for defence industries India’s industrial growth, measured in terms of Index of Industrial Production (IIP), increased by 4.8% during April-October this year, according to the Ministry of Commerce and Industry. The three industrial sectors i.e. mining, manufacturing and electricity registered a positive growth of 2%, 5.1 % and 5.2 % respectively during the period. Commerce Minister Nirmala Sitharaman on Monday highlighted the government’s already-implemented initiatives and future plans for boosting the country’s industrial growth. “The government is implementing various schemes and programmes and is taking measures for boosting industrial growth of respective ...
Indias GDP growth may touch 8% during FY16 : Assocham
The Dollar Business Bureau The overall industrial growth is seen at 7.5-7.8% during the financial year 2016, while the services should expand over 9%, with agriculture and allied picking up to 2.8- 3% India is very likely to achieve a 7.8- 8% GDP growth rate in the current financial year, according to the Associated Chamber of Commerce and Industry (Assocham) Mid Year review. “The review made quite an optimistic forecast of 9% and above growth in the next financial year of 2016-17 if the government and the Congress come together and clear the Goods and Services Constitutional Amendment Bill in parliament and the roll out of the major tax reforms takes place from April 2016,” Assocham said in a statement. ...
Fall in wholesale inflation gives rate cut hope
The Dollar Business Bureau The Wholesale Price Index (WPI) for all commodities for the month of November rose by 0.5%, the government said on Monday. According to the Ministry of Commerce, the annual rate of inflation based on WPI for November stood at -1.99% over November 2014 and -0.17% over the corresponding month of the previous year and -3.81% compared to previous month. Commenting on the data, apex industry bodies, while welcoming the fall, also raised concern over decline in manufacturing produce. “Estimates of low wholesale price inflation in November is in line with the industry expectation and needs to be looked upon at by caution since it’s in the negative territory for last 13th month,” said the Associated Chamber of ...
India-US trade: Issues on IPP and Solar Cells vital
Sai Nikesh | The Dollar Business Despite the positive signs of strengthening trade between the United States and India, there also exist few challenges before the two nations, which they need to overcome to ensure comfortable bilateral trade. The very first contention between the countries over trade occurs at the point of Bilateral Investment Treaty (BIT) of the two countries. While India wants to put Intellectual Property Protections (IPP) and taxations out of the scope of India-US BIT, the US is unlikely to accept India’s position on the matter. The real ideology difference between the countries arise at this juncture, where the American pharmaceutical companies wants India to strengthen its regulatory regime and allow US style of patent policy, ...
