Forced to cut prices by 2-3% due to cheaper imports from Japan, Korea and China
Indian industry has logged a growth of 9.5 per cent in April 2006 as against 8.1 per cent in the same month last fiscal.
Industrial growth slowed to 3.6 per cent in February, 2011, compared to 15.1 per cent expansion in the year-ago period, dragged down by poor performance of manufacturing and mining sectors.
Pulled down by the mining and electricity sectors, the Index of Industrial Production stood at 8.8 per cent during April 2005 compared to 8.9 per cent in the same month last year.
Industrial production declined by 10.4 per cent in July, mainly due to lower output of manufacturing, mining and power generation, as per the government data released on Friday.
Terming investment in infrastructure "quintessential" to boost growth, the Economic Survey on Friday said post unlocking of the economy, infra sectors are poised for growth and construction of roads is expected to return to the high pace attained before COVID-19. The infrastructure sector will be the key to overall economic growth and macroeconomic stability, the Survey said emphasising that the year after the crisis (2021-22) will require sustained and calibrated measures to facilitate the process of economic recovery and enable the economy to get back on its long-term growth trajectory. "Basic infrastructure facilities in the country provide the foundation of growth. In the absence of adequate infrastructure, the economy operates at a suboptimal level and remains distant from its potential and frontier growth trajectory.
The slowdown in corporate revenue growth over the last one year has begun to reflect in India Inc's capital expenditure, or capex. The country's top listed companies are going slow on fresh investment in capacity expansion, in line with a deceleration in their top line growth. The combined fixed assets of the listed companies, excluding banking, finance services and insurance (BFSI) and the government-owned oil & gas firms, were up 10.1 per cent year-on-year (Y-o-Y) during April-September 2023 (H1FY24) - the slowest in 18 months - as against 21.1 per cent Y-o-Y growth in H2FY23 (October 2022-March 2023) and 11.6 per cent growth in the April-September 2022 period (H1FY23).
Based on a feedback, the exchange could cap a sector's weight at 25 per cent, or align with the broader market.
As many as seven of eight core industries saw a contraction in output in September.
The PM-elect wants to fix the coal sector; cut coal imports by boosting output.
In an urgent need for its image makeover, the scam-tainted coal sector will require mammoth efforts in 2015 from the government and the corporates too.
Old timers in Oil and Natural Gas Corporation (ONGC) still remember how in early 2000 its overseas subsidiary, ONGC Videsh Ltd (OVL), was on the verge of closure. Though OVL was set up in 1965, the only discovery the company had made till then was in Vietnam offshore, with more investment needed to monetise it. In 2001, when OVL started looking for new blocks abroad, the company's previous acquisition was 13 years old.
Hindalco Industries won Dumri mine in Jharkhand
The first economic readings to be published in 2015 will be out on Monday, when the government releases industrial output data for November and the consumer price index for December.
Union Labour Ministry has announced pension scheme for unorganised labour hands like mine and cine workers.
India's industrial production growth perked up slightly to 5.2 per cent in January from 4.7 per cent in December 2022, mainly due to good performance of the power, mining and manufacturing sectors, according to official data released on Friday. There was an improvement on an annual as well as sequential basis. The factory output growth measured in terms of the Index of Industrial Production (IIP) stood at two per cent in January 2022.
Coal Minister Sriprakash Jaiswal is credited with fast-tracking many issues that are caught in red-tape. The minister says the environment ministry's controversial policy barring mining in forest areas has left him troubled.
RBI Governor Shaktikanta Das on Thursday said the central bank does not "emulate" others when it comes to regulations and asserted that the bank's as well as his own opposition to cryptocurrencies remain unchanged, a day after US regulators allowed bitcoin Exchange Traded Funds (ETFs). He also said that emerging markets and the world cannot afford to have a "crypto mania". "What is good for another market need not be good for us.
India's economy grew 6.1 per cent in the fourth quarter of 2022-23, pushing up the annual growth rate to 7.2 per cent, official data showed on Wednesday.
A heavy forest fire which has erupted several kilometers along the Indo-Pak border has triggered mine explosions in the area and damaged some communication lines in Poonch district of Jammu and Kashmir.
Six bills, including the one to amend the Jammu and Kashmir Reorganisation Act, were introduced in the Lok Sabha on Wednesday amid protests by opposition members over the violence in Manipur.
Interview with chairman, Vedanta.
'Yet the market didn't do all that badly because it was cushioned by domestic inflows.'
The recent data dims hope of recovery in manufacturing.
Seeking to tap opportunities in Indian rail and mining sectors, UK-based infrastructure company Laing O'Rourke, which has a tie-up with domestic realty major DLF, has acquired Barclay Mowlem
While overall employment rose from 456 mn to 463 mn between FY11 and FY15, with farm employment falling by 26 mn over the same period, the net addition to employment over the entire four year period was a mere 7 mn.
Financial services and consumer durable companies accounted for most of the selling by foreign portfolio investors (FPI) in the last fortnight of February. FPIs sold finance stocks worth Rs 2,263 crore and consumer durable stocks worth Rs 1,111 crore, according to data collated by Prime Infobase. Information technology (selling worth Rs 708 crore), metals and mining (Rs 694 crore), and power (Rs 497 crore) were the other sectors where overseas funds sold shares.
The government has already said it is keen on starting ore mining and exports.
Putting an end to the fierce scramble for India's iron ore resources, the government has decided to split the Chiria iron ore mines in Jharkhand into two and give at least half the reserves to Steel Authority of India Ltd for its expansion plans. The other half will be kept for development by the private sector later, said informed sources.
Brokerages expect Nifty50 companies to have cumulatively witnessed strong double-digit growth in their earnings in the first quarter of FY24 (Q1FY24). This growth in the combined earnings is expected to have been driven by banks, automakers, and oil & gas companies. Other sectors may report muted profit growth.
India's industrial output contracted by 0.6 per cent in December, 2012 compared to a growth of 2.7 per cent in same month a year ago.
Modi held a "productive meeting" with his Ethiopian counterpart Abiy Ahmed Ali on a day when BRICS (Brazil, Russia, India, China and South Africa) leaders officially endorsed Ethiopia's entry into the bloc.
For the entire 2015-16 fiscal, the factory output grew at 2.4 per cent, down from 2.8 per cent in the previous fiscal.
Analysts polled by Reuters had expected output to grow 0.7 per cent annually.
The Central Vigilance Commission has come out with a stunning report on the "public-private partnership" model of the nexus between corporates, politicians and bureaucrats to perpetrate large-scale corruption.
Prime Minister Narendra Modi and Home Minister Amit attended the swearing in ceremony as did BJP president J P Nadda.
Believes India can grow at 6 - 7 per cent next fiscal.
Foreign Portfolio Investors (FPIs) have pulled out over Rs 10,000 crore from Indian equities in the first three weeks of September, primarily due to rising US interest rates, recessionary fears, and overvalued domestic stocks. Before the outflow, FPIs were incessantly buying Indian equities in the last six months from March to August and brought in Rs 1.74 lakh crore during the period. Mayank Mehra, smallcase, manager and principal partner at Craving Alpha,believes that strong economic growth prospects, attractive valuations, and government reforms could support foreign investment flows in the next month.
