Home Indian Economy Reforms Initiatives Events Diary Sitemap About Us

Latest Business News from Economic Initiatives for dated 11-01-2013

 

Total Rabi Sown Area Reaches 581 Lakh Hectares

 

As per latest reports received from states, rabi crops have been sown in nearly 580.83 lakh hectare as compared to 578.34 lakh ha at this time last year.

 

The details of the area covered so far and that covered during this time last year are given below: -

(Area in lakh hectare)

Crops

Area Sown

(2012-13)

Area Sown

(2011-12)

Wheat

291.27

292.9

Rice (Rabi)

4.45

5.99

Sorghum

38.56

37.29

Coarse Cereals

60.08

57.52

Gram

91.68

86.99

Pulses

140.87

140.3

Rapeseed & Mustard

66.92

64.66

Oilseeds

84.16

81.63

Total Rabi Area

580.83

578.34

 


India’s Foreign Trade: December, 2012

 

EXPORTS (including re-exports)

Exports during December, 2012 were valued at US $ 24877.57 million (Rs. 135950.47 crore) which was 1.92 per cent lower in Dollar terms (1.75 per cent higher in Rupee terms) than the level of US $ 25365.69 million (Rs. 133618.61 crore) during December, 2011. Cumulative value of exports for the period April-December 2012 -13 was US $ 214099.77  million (Rs 1166438.69) as against US $ 226551.09 million (Rs 1066668.31 crore) registering a  negative growth of 5.50 per cent in Dollar terms and growth of 9.35 per cent in Rupee terms over the same period last year.

 

IMPORTS

Imports during December, 2012 were valued at US $ 42549.50 million (Rs.232523.66 crore) representing a growth of 6.26 per cent in Dollar terms and 10.23 per cent in Rupee terms  over the level of imports valued at US $ 40044.06 million ( Rs. 210939.69 crore) in December, 2011. Cumulative value of imports for the period April-December, 2012-13 was US $ 361271.88 million (Rs. 1967521.83 crore) as against US $ 363867.81 million (Rs. 1714432.42 crore) registering a negative growth of 0.71 per cent in Dollar terms and growth of 14.76 per cent in Rupee terms over the same period last year.

 

CRUDE OIL AND NON-OIL IMPORTS:             

Oil imports during December, 2012 were valued at US $ 14429.7 million which was 23.56  per cent higher than oil imports valued at US $  11678.7 million in the corresponding period last year.  Oil imports during April-December, 2012-13 were valued at US $ 124520.8 million which was 12.18 per cent higher than the oil imports of US $ 111002.9 million in the corresponding period last year.

 

Non-oil imports during December, 2012 were estimated at US $ 28119.8 million which was 0.87 per cent lower than non-oil imports of US $ 28365.4 million in December, 2011.  Non-oil imports during April - December, 2012-13 were valued at US $ 236751.1 million which was 6.37 per cent lower than the level of such imports valued at US $ 252864.9 million in April - December, 2011-12.

 

TRADE BALANCE

The trade deficit for April - December, 2012-13 was estimated at US $ 147172.11 million which was higher than the deficit of US $ 137316.72 million during April -December, 2011-12. 

 

EXPORTS & IMPORTS  : (US $ Million)

(PROVISIONAL)

DECEMBER

APRIL-DECEMBER

EXPORTS(including re-exports)

 

 

2011-12

25365.69

226551.09

2012-13

24877.57

214099.77

%Growth2012-13/ 2011-2012

-1.92

-5.50

IMPORTS

 

 

2011-12

40044.06

363867.81

2012-13

42549.50

361271.88

%Growth2012-13/ 2011-2012

6.26

-0.71

TRADE BALANCE

 

 

2011-12

-14678.37

-137316.72

2012-13

-17671.93

-147172.11

 

 

 

EXPORTS & IMPORTS  : (Rs. Crore)

(PROVISIONAL)

DECEMBER

APRIL-DECEMBER

EXPORTS(including re-exports)

 

 

2011-12

133618.61

1066668.31

2012-13

135950.47

1166438.69

%Growth2012-13/ 2011-2012

1.75

9.35

IMPORTS

 

 

2011-12

210939.69

1714432.42

2012-13

232523.66

1967521.83

%Growth2012-13/ 2011-2012

10.23

14.76

TRADE BALANCE

 

 

2011-12

-77321.08

-647764.11

2012-13

-96573.19

-801083.14

 


14 FDI Proposals amounting to Rs. 1310.60 Crore Approved by FIPB

 

Based on the recommendations of Foreign Investment Promotion Board (FIPB) in its meeting held on December 21, 2012, the  Government has approved 14 proposals of Foreign Direct Investment (FDI) amounting to Rs. 1310.60 crore approximately. 

 

Following fourteen (14) proposals have been approved.

Sl. No.

Name of the applicant

Particulars of the proposal

FDI/NRI inflows

(Rs. In crore)

 

COMMERCE

1

M/s Kama Schachter Jewelry Pvt. Ltd., Mumbai

Post facto approval at the instance of RBI for having made a downstream investment in Oct 2007 in the field of import & export of diamonds.

Nil

 

PHARMACEUTICALS

2

M/s Saurav Chemicals Ltd., Punjab

An existing pharma sector company to issue fresh equity shares to a foreign company.

14.85

3

M/s Aanjaneya Lifecare Limited, Mumbai

An existing pharma company to issue Foreign Currency Convertible Bonds to eligible foreign investors.

405.00

4

M/s Gavis Pharma LLC., USA

To invest in an Indian company engaged in the business of development and manufacture of injectable products and Sterile Ophthalmic preparations for the Indian and other regulated markets.

73.75

5

M/s Syngene International Limited, Bangalore

Induction of foreign equity to carry out the business of contract research and development services to third parties engaged in the pharmaceutical, nutrition and material science industries under fee-for-service commercial arrangements.

125.00

 

SHIPPING

6

M/s Hindustan Port Pvt. Ltd., Mumbai

To act as an investing company and receive foreign investment for making downstream investment in other Indian companies.

440.00

 

URBAN DEVELOPMENT

7

M/s CapitaRetail Mysore Mall (Mauritius) Limited, Mauritius

The foreign company having invested in Construction & Development Sector has applied for approval to transfer shares within the group companies (NR to NR) prior to completion of lock-in-period for the sector.

Nil

8

M/s CapitaRetail Mangalore Mall (Mauritius) Limited, Mauritius

The foreign company having invested in Construction & Development Sector has applied for approval to transfer shares within the group companies (NR to NR) prior to completion of lock-in-period for the sector.

Nil

9

M/s CapitaRetail Mangalore Mall (Mauritius) Limited, Mauritius

The foreign company having invested in Construction & Development Sector has applied for approval to transfer shares within the group companies (NR to NR) prior to completion of lock-in-period for the sector.

Nil

 

PHARMACEUTICALS

10

M/s Ordain Health Care Global Private Limited

Acquisition of manufacturing facility of one of its own group pharma companies and to receive fresh FDI thereby increasing the foreign investment from 60% to 100%.

40.00

 

CORPORATE AFFAIRS

11

M/s Arshiya International Pvt. Ltd.

Ex-post-facto approval for issue of warrants to carry out the business of providing logistics solutions, integrated supply chain and logistics infrastructure services.

2.00

 

ECONOMIC AFFAIRS

12

M/s Man Chung Lim Granites India Pvt. Ltd.

To issue equity shares against foreign remittance made as ‘pre-operative expenses’ for security deposit and import of machinery for raising, purchase and export of Granite stones under 100% EOU scheme.

Nil

 

INDUSTRIAL POLICY & PROMOTION

13

Mr. Christoph Heinrich Sievers, Switzerland

Induction of foreign equity in an LLP to carry out the business of Consultancy services.

0.0025

 

URBAN DEVELOPMENT

14

M/s Excedo Reality Fund-I Acting through its Investment Manager Athamus Venture Management Pvt. Ltd., Bangalore

To accept contribution and investment from NRIs from various countries to carry out the business in development of Township, Housing, Built up infrastructure and Construction Development projects in compliance with FDI Policy.

 

210.00

 

2. The following six (6) proposals have been deferred:

 

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Indostar Capital Finance Pvt. Ltd., Mumbai

A Systemically Important Non-Deposit Taking Non-Banking Financial Company to set up a subsidiary company and sponsor a debt fund under SEBI (AIF) Regulations.

2

M/s Bay Capital Investment Ltd., Mauritius

Acquisition of shares in a listed Indian Company which is the Core Investment Company of a leading infrastructure developing group of companies.

3

M/s Amertec Systems Pvt. Ltd., New Delhi

Induction of foreign equity to carry out the manufacturing of advanced electronic systems, test systems, simulators and electronic systems for military applications.

4

M/s Selex Galileo Ltd., England

To set up a JV to undertake the business of marketing, development, final assembly and test, system integration, in country support and other services to those products, primarily in defence electronics sector.

5

M/s Mahindra and Mahindra Ltd.

To amend the para 1 and 4 of the FC approval.  The company is engaged in the business of to develop, manufacture and provide service support for radar systems and various kinds of defence electronic systems and various kinds of defence electronic systems.

6

M/s Erica Healthcare Pvt. Ltd., Mumbai

Increase in foreign equity engaged in the pharmaceutical sector.

 

3. The following three (3) proposals have been rejected:

 

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s Mathworks India Pvt. Ltd., Bangalore

Post facto approval for allotment of shares to foreign collaborator on the remittance, which was made directly to a third party as security deposit for premises.

2

M/s ChaYoWo Technology Solutions Pvt. Ltd., Bangalore

To swap shares of resident shareholder of the Indian Company with the shares of the foreign collaborator.

3

M/s Fullife Healthcare Pvt. Ltd., Mumbai

Induction of foreign equity to carry out the business of in-licensing, developing, getting products manufactured from third party and out-licensing the marketing rights of unique healthcare solution in the field of food supplements, non-critical diagnostics and pharma products.

 

4.  The following one (1) proposal has been withdrawn from the Agenda: 

Sl. No

Item No.

Name of the applicant

1

4

M/s Trakshun Management Consultants LLP

 

5. Decision in the following five (5) proposals will be communicated separately:

        

Sl. No

Name of the applicant

Particulars of the proposal

1

M/s IvyCap Ventures Trust

To allow NRI investment through normal banking channels in compliance with FEMA Regulations and extant FDI Policy.

2

M/s Yalamanchili Software Export Ltd., Chennai

Conversion of non-repatriable equity held by majority shareholder to repatriable equity and share swap of this holding to shares of a foreign company.

3

M/s Wipro Limited, Bangalore

Transfer of shares by way of swap consequent to a demerger of non-IT activities.  The company is engaged primarily in IT sector and also in other diversified activities including defence.

4

M/s Spanco Power Distribution Ltd., Mumbai

Post facto approval to act as an investing company and make downstream investments in its WoS and other companies in the power distribution sector.

5

M/s GPX India Private Limited, Maharashtra

To issue equity shares to the Foreign Collaborator against import of capital goods/equipment/machinery to carry out the business of setting up of domestic Other Service Provider (OS) (Data Centre) for providing various products and services to its clients/customers.

 


Global crude oil price of Indian Basket increases to 109.74 US$/bbl on 10.01.2013

 

The international crude oil price for Indian Basket as computed/published today by the Petroleum Planning and Analysis Cell (PPAC) under the Ministry of Petroleum and Natural Gas went up to US$ 109.74/barrel (bbl) on 10.01.2013. This was higher than the price of US$ 109.57//bbl prevailing on the previous trading day of 09.01.2013. 

 

In rupee terms however, the crude oil price fell below Rs 6000 mark to Rs 5995.10/bbl on 10.01.2013 from Rs 6021.97/bbl on 09.01.2013. This was due to rupee appreciation with rupee dollar-exchange rate on 10.01.2013 at Rs 54.63/US$ against Rs 54.96/US$ on 09.01.2013.

 

The table below gives details in this regard:

Particulars

Unit

Price on 10 January, 2013

(previous trading day

i.e. 09.01.2013)

Last Fortnight December  16-31, 2012

(previous fortnight

1-15, December 2012)

Crude Oil

(Indian Basket)

($/bbl)

109.74   (109.57)

107.76   (106.85)

(Rs/bbl

5995.10 (6021.97)

5912.79 (5815.85)

Exchange Rate

(Rs/$)

54.63     (54.96)

54.87     (54.43)

 

RCJ/RKS –Daily Crude oil price- 11.01.2013


Quick Estimates of Index of Industrial Production and Use-Based Index for the Month of November, 2012 (Base 2004-05=100)

 

The Quick Estimates of Index of Industrial Production (IIP) with base 2004-05 for the month of November 2012 have been released by the Central Statistics Office of the Ministry of Statistics and Programme Implementation. IIP is compiled using data received from 16 source agencies viz. Department of Industrial Policy & Promotion (DIPP); Indian Bureau of Mines; Central Electricity Authority; Joint Plant Committee; Ministry of Petroleum & Natural Gas; Office of Textile Commissioner; Department of Chemicals & Petrochemicals; Directorate of Sugar; Department of Fertilizers; Directorate of Vanaspati, Vegetable Oils & Fats; Tea Board; Office of Jute Commissioner; Office of Coal Controller; Railway Board; Office of Salt Commissioner and Coffee Board.

 

2. The General Index for the month of November 2012 stands at 167.3, which is 0.1% lower as compared to the level in the month of November 2011. The cumulative growth for the period April-November 2012-13 over the corresponding period of the previous year stands at 1.0%.

 

3. The Indices of Industrial Production for the Mining, Manufacturing and Electricity sectors for the month of November 2012 stand at 121.7, 178.3 and 149.1 respectively, with the corresponding growth rates of  (-) 5.5%, 0.3% and 2.4% as compared to November 2011 (Statement I). The cumulative growth in the three sectors during April-November 2012-13 over the corresponding period of 2011-12 has been (-) 1.5%, 1.0% and 4.4% respectively.

 

4. In terms of industries, thirteen (13) out of the twenty two (22) industry groups (as per 2-digit NIC-2004) in the manufacturing sector have shown negative growth during the month of November 2012 as compared to the corresponding month of the previous year (Statement II). The industry group ‘Publishing, printing and reproduction of recorded media’ has shown the highest negative growth of 22.1%, followed by 21.8% in ‘Office, accounting and computing machinery’ and 18.9% in ‘Wood and products of wood & cork except furniture; articles of straw & plating materials’. On the other hand, the industry group ‘Electrical machinery and apparatus n.e.c.’ has shown a positive growth of 25.1% followed by 15.7% in ‘Luggage, handbags, saddlery, harness and footwear; tanning and dressing of leather products’ and 15.3% in ‘Radio, TV and communication equipment and apparatus’.

 

5. As per Use-based classification, the growth rates in November 2012 over November 2011 are 1.7% in Basic goods, (-) 7.7% in Capital goods and        (-) 1.1% in Intermediate goods (Statement III).  The Consumer durables and Consumer non-durables have recorded growth of 1.9% and 0.3% respectively, with the overall growth in Consumer goods being 1.0%.

 

6. Some of the important items showing high negative growth during the current month over the same month in previous year include ‘Block Board’ [(-) 27.1%], ‘Newspapers’ [(-) 22.7%], ‘Furnace Oil’ [(-) 28.0%], ‘PVC Pipes & Tubes’ [(-) 33.1%],  ‘Grinding wheels’ [(-) 43.7%], ‘Stampings & Forgings’     [(-) 28.2%], ‘Razor Blades/Safety Blades’ [(-) 28.4%], ‘Air Conditioner (Room)’ [(-) 36.6%], ‘Tractors’ [(-) 20.5%], ‘Drilling Equipment’ [(-) 57.7%], ‘Plastic Machinery incl. Moulding Machinery’ [(-) 40.4%] and ‘Commercial Vehicles’ [(-) 28.3%].

 

7. Some of the other important items showing high positive growth are: ‘Rice’ (21.3%), ‘Cotton Yarn’ (21.9%), ‘Petroleum Coke’ (82.4%), ‘Antibiotics & its Preparations’ (28.4%), ‘Carbon Steel’ (18.8%), ‘Stainless/ Alloy Steel’ (19.7%), ‘CR Sheets’ (34.1%), ‘HR Coils/ Skelp’ (24.3%), ‘Conductor, Aluminium’ (78.7%), ‘Cable, Rubber Insulated’ (45.3%) and ‘Telephone Instruments including Mobile Phones and Accessories’ (18.1%),.

 

8. Along with the Q.E. of IIP for the month of November 2012, the indices for October 2012 have undergone the first revision and those for August 2012 have undergone the final revision in the light of the updated data received from the source agencies. It may be noted that these revised indices (first revision) in respect of October 2012 shall undergo final (second) revision along with the release of IIP for the month of January 2013.

 

9. Statements giving Quick Estimates of the Index of Industrial Production at Sectoral, 2-digit level of National Industrial Classification (NIC-2004) and by Use-based classification for the month of November 2012, along with the growth rates over the corresponding month of previous year, including the cumulative indices and growth rates, are enclosed.

 

Click here to see Statements


Chiranjeevi Announces Campaign “Land of Pi”

 

Recognizing the importance of cinema as a powerful tool for the development and promotion of various tourist destinations, Union Tourism Minister Shri K. Chiranjeevi  announced, several initiatives for promoting “Film Tourism” through films shot in India.  Announcing this in New Delhi today the Minister said that a “Land of Pi” campaign would be launched soon across all media, including print, online, electronic and outdoor, to promote Puducherry and Munnar as tourist destinations. The highlights of the campaign will be :

 

·         “Land of Pi” posters produced by Tourism Ministry will be displayed worldwide through the Indiatourism offices overseas. These would also be put on the “Incredible India” website and the websites of the Puducherry and Kerala Tourism Departments.

 

·         Luxury buses plying between Chennai and Puducherry and Kochi and Munnar will be branded with “Land of Pi” creatives.

 

·         Special “Land of Pi” tours and walking trails will be organized for tourists visiting Puducherry and Munnar . Maps depicting these tours have already been produced.

 

·         Short films and virals on the tourist attractions in Puducherry and Munnar which have been depicted in the film have been created and one being put on Youtube and other Social Media networks.

 

·         “Land of Pi” contests will be organized online, with two prizes given every month. The prize would be a holiday package to Puducherry or Munnar, including air tickets to Chennai / Kochi and local hospitality.

 

·         A boat that hints at “Life of Pi”, with a stuffed toy tiger will be permanently placed at two prominent locations in Puducherry, to provide a photo opportunity to visiting tourists. One location will be a child-safe shallow water near Puducherry’s Paradise Island and the other the soon-to-be-inaugurated Puducherry airport.

 

·         T’shirts and caps branding the two lands of Pi will be produced and distributed.

 

·         Online video games will be made as part of the campaign.

 

·         The campaign will be undertaken in English as well as in French, German, Chinese, Spanish and Japanese.

 

·         Road shows for promoting tourism to the country will be organized in China and Taiwan, where the film “Life of Pi” has been very well received. Mr. Ang Lee is of Taiwanese origin.

 

The widely acclaimed film “Life of Pi” has been partly shot in the beautiful locales of Puducherry (Pondicherry) and Munnar in Kerala. In order to enable viewers of the film to visit the two regions shown in the film, Shri Chiranjeevi held a meeting last month with the Secretaries of Tourism of Puducherry and Kerala along with Tour Operators of the region, immediately after it was observed that the film had highlighted awareness of the two regions.

 

Shri K. Chiranjeevi has already announced special National Tourism Awards for Mr. Ang Lee, Director and Mr. Yann Martel, author of the Book “Life of Pi”, for promoting India through the film.

 

January 01, 2013 January 02, 2013 January 03, 2013 January 04, 2013 January 09, 2013
  January 10, 2013        
         
         

 

Achieves for earlier months of year 2012

Source:- Press Information Bureau 

  Back to Economic News Page

Page Edited by : Syed Zahid Ahmad

Economic Initiatives