Other Briefings
Two Gov’t Departments Warn Against Opening Up Retail to FDI
Nov. 10 – Two government departments are warning against opening up multi-brand retail to foreign direct investment in an effort to slow momentum towards opening the sector following U.S. President Barack Obama’s visit to the country. According to the Ministry of Micro, Small and Medium Enterprises, the government should not allow more than 18 percent […]
India Sees Slight Improvement in World Bank’s Doing Business 2011
Nov. 4 – India improved by only one spot over last year in the World Bank’s Doing Business 2011 report, which details and ranks the ease of conducting business in 183 countries around the world. With an overall rank of 134, India was among the top 50 countries in terms of obtaining credit and protecting […]
RBI Hikes Interest Rates for Sixth Time this Year
Nov. 3 – India’s central bank raised interest rates on Tuesday for the sixth time this year, but said that rates will probably remain stable for the next three months. The Reserve Bank of India, which has tightened its monetary policy the most in Asia this year, increased the repurchase rate, or lending rate, by […]
Wen and Singh Discuss ‘Core Issues’ at ASEAN Meeting in Hanoi
Wen to Visit India in December Nov. 1 – Indian Prime Minister Manmohan Singh and Chinese Premier Wen Jiabao met on the sidelines of the 17th ASEAN summit in Hanoi on Friday. The two leaders publicly affirmed their commitment to maintaining friendly relations, but planned to discuss sensitive issues in the future. Wen is slated […]
Obama Bringing 200 Top Business Leaders with Him to India Next Month
Oct. 29 – President Barack Obama will be accompanied by over 200 senior American businessmen and women on his India visit next month, including. Among the business delegation will be Indra Nooyi (Pepsico’s India-born CEO), David Cote (CEO of Honeywell), Terry McGraw (CEO of McGraw Hill), Louis Chênevert (CEO of United Technologies Corp.) and Ellen […]
Japan and India Endorse Free Trade Agreement, Discuss Future Relations
Oct. 27 – Japanese Prime Minister Naoto Kan and Indian Prime Minister Manmohan Singh officially agreed on Monday to support a bilateral free trade agreement, signaling intentions by Japan to wean itself off of imports from China as well as an expansion of India’s role in the region. After recent territorial disputes and rumored Chinese […]
India’s Exports Up 27% Over 2009
Oct. 26 – Indian exports totaled US$103.3 billion in the April-September period, marking a 27.6 percent increase over the same period last year. Meanwhile, the country’s merchandise shipments rose at their fastest rate in two years, surging 23 percent, or about US$18 billion, in September. Imports have also surged over the same time frame and […]
Interest Rates May Rise After Indian Banks Report Strong Q2 Earnings
Oct. 19 – Quarterly profits surged for India’s banks thanks to credit growth and easy money, but higher interest rates may pose a threat in the future. The International Monetary Fund has forecast that demand for loans in India would expand 9.7 percent in the 2010-2011 fiscal year.
