Indian Economy - News & Updates - Archive

[Contrarian]

JPMorgan India opens first fund

MUMBAI: JPMorgan Asset Management India Pvt. Ltd. on Thursday launched its first fund — JPMorgan India Equity Fund — an open-ended diversified equity scheme. The scheme would remain open for subscription till May 18.

 

[Contrarian]

Schenker expands India operations

BANGALORE : Schenker India, part of the global logistics major, has projected a turnover equal to euro 130 million from its operations here this year. Christian Nebel, Managing Director for India operations, told reporters after opening the Bangalore office on Wednesday that Schenker and Bax Global have teamed up recently to offer a wider network across India. Germany based Deatsche Bahn, the parent company of Schenker, last year took over Bax Global, a unit of the U.S.-based security group, Brinks Company, in a 100 per cent buy-out.

 

[Contrarian]

Alcan to open office in Mumbai

PARIS : The Alcan International Network (AIN) announced on Wednesday that it would open a new commercial office in Mumbai to support Alcan's growing opportunities in India. The office will be named Alcan India Pvt. Ltd. The office will be staffed by a commercial team with a high level of product expertise in metals (aluminum, steel, ferro alloys), minerals and chemicals. Through the employment of Indian nationals, the office will provide intelligence in local marketing approaches for Alcan and external partners, says a release.

 

[Neo]

Indian inflation up

NEW DELHI: Indian inflation crossed six per cent again according to data released on Friday, putting fresh pressure on the central bank to further tighten its monetary policy.

Inflation in Asia’s fourth-largest economy reached 6.09 per cent in the first week of the current fiscal year beginning April 1 against 5.74 per cent the previous week, the finance ministry said.

The central bank, which has warned of signs of overheating with the economy growing at around nine per cent, has introduced a slew of monetary tightening measures in recent months and will meet next on April 24 to consider further steps.

Last December, inflation broke above the central bank’s target range of 5.0-5.5 per cent.

“We think the Reserve Bank of India will again take measures to tighten liquidity but it is difficult to predict which instruments they are going to touch,” said D K Joshi, chief economist at Crisil, India’s top credit ratings agency.

“It may be another rate hike or some sort of tightening on external commercial borrowing,” he said.

Subduing inflation has also become a top priority for the ruling national Congress government which is fighting elections in India’s most populous state Uttar Pradesh.

“To contain inflation remains a very high priority and my expectation is it will hover around 5.7 per cent next week,” Finance Minister P Chidambaram told reporters in New Delhi.

He also said the timely onset of the monsoon as predicted in farm-dependent India would help bring down prices of cereals.

The surge in the cost of living was cited by analysts as a key factor in defeat of the party in two state elections in February as well as municipal polls in the Indian capital earlier this month.

http://www.thenews.com.pk/daily_detail.asp?id=52192

 

[Contrarian]

Neo, could you give me some stats. Whats the size of the first four economies of asia?

 

[Neo]

1- Japan, 2- China, 3- India and 4- South Korea
Lemme check the figs from IMF and WB.

 

[Neo]

Saturday, April 21, 2007

India losing 12,000 MWs to light bulbs

NEW DELHI: International energy experts have concluded that old incandescent bulbs are the major source of energy inefficiency and global warming in developing countries. According to estimates India loses almost 12000 MWs of electricity to inefficient light bulbs.

They believe that electricity consumption in India could be reduced to just 6,000 MWs down from 18,000 MW’s if Indian households switch over to Compact Fluorescent Lights (CFLs). An independent campaigning organisation Greenpeace on Wednesday launched a campaign calling for a phase out of bulbs by 2010 and asked for enactment of law to promote energy efficiency of lighting.

Bulbs consume a large amount of electricity thereby shooting up electricity bills. That also leads to more energy wastage, more coal burnt, greater carbon dioxide emissions and most of all more global warming. In comparison compressed fluorescent lamps (CFL) bulbs use about a quarter of the energy that an incandescent bulb does.

A 12 watt CFL produces same amount of energy as a 60 watt incandescent bulb, invented by Thomas Edison almost 125 years ago. “Changing of a bulb can reduce India’s carbon dioxide emissions and contribute to climate change by four per cent which is as much as the entire Co2 emission of a country likes Denmark and Pakistan,” said K Srinivas, climate and energy expert. Environmentalists lament that while CFLs make a perfect economic sense, the market was not responding equally. There will not need of power cuts in cities like Delhi and Mumbai if households shift to CFLs or some other energy efficient lighting modes. Former World Bank Chief Economist Nicholas Stern has reported that cost of climate change for India could be as high as 9-13 percent loss in GDP by 2100. India is fifth largest CO2 emitter in the world.

http://www.dailytimes.com.pk/default.asp?page=2007\04\21\story_21-4-2007_pg4_22

 

[Neo]

Neo, could you give me some stats. Whats the size of the first four economies of asia?

1- Japan, 2- China, 3- India and 4- South Korea
Lemme check the figs from IMF and WB.

Malay,

Use this URL to collect data: http://web.worldbank.org/WBSITE/EXTERNAL/COUNTRIES/0,,pagePK:180619~theSitePK:136917,00.html#j

 

[Contrarian]

I mean if India has the third biggest economy in Asia, then why was it written 4th largest in Asia in the article. That is what i wish to confirm, whether our economy is bigger than Korea or not.

 

[Neo]

Russia takes third place after Japan and China. She is widely considered as part of Europe despite 75% of its territory lies in Asia.

 

[Contrarian]

Yep confirmed. India is the third largest economy in Asia. Wonder how this never caught my attention!

 

[Contrarian]

But technically isnt Russia counted in Europe? Or is it counted in Asia?

And we have bigger economy than Russia too.

 

[Neo]

Both! Ural Mountain range South East of Moscow seperates Europe from Asia.

 

[Neo]

And we have bigger economy than Russia too.

No, not yet.
You'll surpass Russia somewhere around 2015

 

[Contrarian]

Ah well...2015...that does seem to be a very promising benchmark doesnt it!!
The second best day would be when we surpass Japan