Indian Economy: News and Discussion

[cobra commando]

India's forex reserves up $
1.94 billion

MUMBAI: India's foreign exchange (forex) reserves rose by $1.94 billion to $311.85 billion for the week ended May 2, led by a sharp jump in overseas currency assets, Reserve Bank of India (RBI) data showed. The reserves had gained $499.8 million to reach $309.91 billion for the week ended April 25. According to the RBI's weekly statistical supplement, foreign currency assets, the biggest component of the forex reserves, jumped by $2.54 billion to $284.57 billion in the week under review. The foreign currency assets had risen by $493.2 million to $282.03 billion in the previous week. The RBI said that the foreign currency assets, expressed in US dollar terms, include the effect of appreciation or depreciation of non-US currencies held in reserve such as the pound sterling, euro and yen. India's reserve position with the International Monetary Fund (IMF) increased by $1.2 million to $1.84 billion. The value of special drawing rights (SDRs) rose by $3.00 million to $4.48 billion. However, the value of gold reserves declined by $601 million at $20.96 billion.

India's forex reserves up $1.94 billion - The Times of India

 

[cobra commando]

India to emerge from
'stagflation' over next few
quarters: Report


India to emerge from 'stagflation' over next few quarters: Report - The Times of India

 

[cobra commando]

Economy to grow by 6.2 per cent in 2014-15: Ernst & Young - The Economic Times

 

[cobra commando]

NEW DELHI: Manufacturing and services sectors in India expanded at a faster rate than China's in May even as emerging market output remained stuck in "low gear", an HSBC survey said on Friday. The HSBC Emerging Markets Index (EMI), a monthly indicator derived from Purchasing Managers' Index surveys, inched up to 50.6 in May from 50.4 in April, indicating weak output growth across global emerging markets. While the EMI stood at 50.6 in May, the developed world's PMI was at 55.4 during the month. "While the former (EMI) points to an ongoing languor that has plagued the emerging markets over the past year, the developed world has moved into a higher gear and is now enjoying it strongest growth for just over three years," Markit Chief Economist Chris Williamson said. During May, the HSBC composite index for India, which maps both manufacturing and services, stood at 50.7, whereas for China it was 50.2, Brazil 49.8 and Russia 47.1. An index measure of above 50 indicates expansion. "Disappointing performances continued to be seen across the four largest emerging markets in May. The only good news is that China and India both returned to growth, although in both cases the rate of expansion was only very weak. Brazil and Russia meanwhile continued to contract," Williamson said. Williamson further said that "an ongoing near-stagnation means the emerging markets are, as a whole, underperforming the developed world to the greatest extent ever recorded by the PMI surveys". New business orders across emerging market economies increased at a slightly faster pace in May. Meanwhile, employment declined further, and at the strongest rate since June 2009.


Read more here:
India's manufacturing, services growth outpaces China: HSBC - The Times of India

 

[cobra commando]

India still most loved emerging market

India is the most owned market in the global emerging markets universe as of April, as you can see from the chart by Citi Research. Despite the market moving up since then, the latest Bank of America Merrill Lynch fund manager survey shows the overweight position for India increased substantially in June. That is not surprising, given Narendra Modi's better-than- expected election sweep, the government's quick and decisive beginning, and funds generally flowing into emerging markets because of the tailwinds such as improvement in the current account deficit and currency stability. The current overweight on India is four times greater than the next biggest overweight, Thailand. With Indian markets already up 18% year-to-date, much of the good news seemed to be priced in. Companies' earnings per share continue to show more downward than upward revisions; upside risks to inflation have increased due to higher probability of a poor monsoon, rising crude prices from escalating tensions in Iraq and the railway fare hike.

While consensus is most overweight on India since 2002, Citi Research in its note dated 23 June said, "India been here before: market darling, momentum—and the 'structural story'. And it has faltered before too; we see risks in the market getting ahead of itself-fullish valuations not having the patience for slow earnings upgrades, political expectations running too high and global developments." On the upside, domestic investors may extend the party.
India still most loved emerging market - Livemint

 

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India has potential to be largest economy: Sheryl Sandberg - Business Today

 

[EXPERT]

Chinese are investing in india for four industrial parks, ,Don't you guys think that there is some catch .

 

[cobra commando]

Industrial production reaches 19-month high in May; gets boost from mining, power, manufacturing | Latest News & Updates at Daily News & Analysis

 

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India favourite among FIIs, tops Global Emerging Market funds investment | Market Readers

 

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Textile policy to create 35 mn more jobs, $300 bn exports - Moneycontrol.com

 

[HMS Astute]

So according to the July 2014 IMF World Economic Outlook Update these are the big countries by projected GDP growth in 2014 (BRICS in Italics)

1. China: 7.4%
2. India: 5.4%
3. United Kingdom: 3.6%
4. Canada: 2.2%
5. Germany: 1.9%
6. United States of America: 1.7%
6. South Africa: 1.7%
8. Japan: 1.6%
9. Brazil: 1.3%
10. Spain: 1.2%
11. France: 0.7%
12. Italy: 0.3%
13. Russian Federation: 0.2%


2015:
1. China: 7.1%
2. India: 6.4%
3. United States of America: 3.0%
4. United Kingdom: 2.7%
4. South Africa: 2.7%
6. Canada: 2.4%
7. Brazil: 2.0%
8. Germany: 1.7%
9. Spain: 1.6%
10. France: 1.4%
11. Italy: 1.1%
12. Japan: 1.1%
13. Russian Federation: 1.0%

 

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India's Mfg, Services Growth Outpaced China in July: HSBC - The New Indian Express

 

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India reached inflection point, economy may recover in 2015: Nomura - The Economic Times

 

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Successful policy implementation to make India $ 4.5 trillion economy - The Economic Times

 

[Free Karma]

Arvind Subramanian, US-based economist poised to become chief economic adviser to the government - The Economic Times

 

[EXPERT]

India favourite among FIIs, tops Global Emerging Market funds investment | Market Readers

I am not getting this page . .

 

[cobra commando]

I am not getting this page . .

Try again:
India favourite among FIIs, tops Global Emerging Market funds investment - Market Readers

 

[EXPERT]

Try again:
India favourite among FIIs, tops Global Emerging Market funds investment - Market Readers

Ya, got it
Thanks bro. :cool2:

 

[NSG_Blackcats]

Modi govt joins hands with Flipkart to boost handloom sector; provide online platform for weavers

 

[Srinivas_K]

If India unleashes its full potential, it can grow faster than China: Hans-Paul Bürkner, Chairman BCG - The Economic Times