Other Briefings
India Establishes World’s Largest Diamond Trading Exchange
Oct. 18 – The world’s largest diamond exchange opened in Mumbai’s Bandra Kurla business district on Sunday. The Bharat Diamond Bourse was designed by local architect Balakrishna Doshi and covers 20 acres with nine interlinked nine-story towers. It was constructed at a cost of over US$200 million. The bourse effectively changes the future of the […]
Investment Levels Surge in India
Oct. 14 – A recent survey of 21 leading economists predicted that India’s economy would grow at roughly 8.4 percent in the year ending March 2011, unchanged from a similar poll conducted in July and an improvement over the 7.4 percent growth experienced over the 2009/2010 fiscal year. According to the Reuters quarterly survey, the […]
India and Israel Lay Groundwork for FTA
Oct. 13 – India and Israel are moving forward with the groundwork for signing a free trade agreement in the near future. The two sides are expected to sign a financial pact next month to promote bilateral trade. Israeli Finance Minister Yuval Steinitz met his Indian counterpart Pranab Mukherjee in Washington on the sidelines of […]
India’s FM: August Industrial Output ‘Disappointing’
Oct. 12 – After rising 15.2 percent in July, output from India’s mines and factories slowed to just 5.6 percent in August, according to Ministry of Commerce and Industry data released on Tuesday. India’s Finance Minister Pranab Mukherjee said that the sharp decline was “disappointing,” but added that he still expects average industrial growth in […]
General Motors Targets India’s LCV Market
Oct. 11 – U.S.-based General Motors, alongside its joint venture partner in China, Shanghai Automotive Industry Corporation, will enter the rapidly expanding light commercial vehicles market in India by 2012. “We are working very aggressively for the launch of commercial vehicles in India and GM hopes to corner sizeable numbers in the market soon after […]
India’s NBFCs Request Official Banking Licenses from RBI
Oct. 8 – This Thursday, several of India’s non-banking financial companies (NBFCs) requested official banking licenses in a meeting with the Reserve Bank of India. NBFCs are financial institutions that provide banking services without meeting the legal definition of a bank. Notable examples are: Tata Capital, Mahindra Finance, Reliance Capital, IndiaBulls, Religare, IL&FS and Aditya […]
Indian Foreign Investment Inflows Reach Record Highs
Oct. 7 – Net FII inflows for 2010 have crossed the magic figure of US$20 billion on Tuesday, even as India’s central bank sounded caution about these unabated flows. The Securities & Exchange Board of India data showed that this year’s flows are already at record levels, beating the US$17.7 billion net inflows recorded in […]
Chief Economist: Indian Economy to Grow Faster than 8.5 Percent
Oct. 4 – India’s chief statistician T.C.A. Anant said that the economy is likely to grow a little faster than the targeted 8.5 percent this year thanks to robust farm output and industrial production. “I am comfortable with 8.5 percent, maybe a little more. I think it is on target,” Anant said in Delhi on […]
