Other Briefings
India’s Mandate for Reform by the People
May 18 – India’s voters have returned the Congress Party to power in the national Lok Sabha elections in a stunning result that also saw Dr. Manmohan Singh returned as an elected prime minister for the first time by any Indian prime minister since Jawaharlal Nehru in 1961. The result further endorses, and strengthens, the […]
April Exports Drop by 33 Percent
May 15 – India’s exports dropped by 33 percent in April to US$10.79 billion compared to the year earlier as the effects of the global recession continue to resonate. This is the seventh month in a row that exports have contracted. “This was expected with the global slowdown and contraction of 9 percent in world […]
Gov’t to Build National Gas Highway
May 14 – India’s oil ministry may build a national gas highway to bring a steady supply of natural gas across the country. Currently, gas pipelines are found mainly in the eastern and western regions while the southern, central and north-eastern regions are lacking. Expanding the pipeline should balance economic and regional growth. Funds for […]
March FDI Drops to US$2 Billion
May 13 – India’s foreign direct investment in March reached US$2 billion declining by more than half compared to last year’s US$4.4 billion during the same period. FDI has been hard hit by the global economic crisis although total FDI for 2008-09 is still more than US$27 billion, still a marginal growth compared to US$24.5 […]
LG to Expand Manufacturing in India
May 12 – Major Korean consumer electronic brand LG has plans to ramp up its manufacturing capacities and product exports from India for its global operations to cut on costs. LG India is looking at exporting products to mature markets eventually growing its exports from 15 percent of turnover to 30 percent by 2012. The […]
Developing Countries Seen as a Market for Exports
May 11 – India is looking into relying more on developing countries to offset slowing export demand from the United States, Japan and Europe markets hit by the global downturn. Currently, 40 percent of India’s exports go to developing countries and the oil-producing countries like UAE are also strong buyers. The Federation of Indian Export […]
Jet Airways to Begin Low-Fare Domestic Service
May 8 – Jet Airways, India’s second-largest airline, is now offering cheaper tickets on selected domestic routes to attract business travelers. The new no-frills service called Jet Airways Konnect begins today with 19 routes. “It will be offered to 38 destinations where Jet Airways flies and where JetLite does not normally operate,” Chief Commercial Officer […]
Gov’t Planning to Change Audit System
May 7 – The Indian government is planning to change to a new accounting system for its annual financial statements in five years time to accrual-based accounting for transparency. The new system will allow the government to record transactions although cash will change hands later on. This will be more effective in showing the government’s […]
