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Exports post highest growth of 37.5% at $245.90 billion in FY'11
Updated on Tuesday, April 19, 2011, 18:45
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New Delhi: Exports registered the highest ever growth of 37.5 percent at USD 245.9 billion during 2010-11, demonstrating a robust demand for Indian merchandises not just in the western economies but in new markets like Latin America as well.

Exports for March rose by a handsome 43.9 percent to USD 29.1 billion compared to the growth in the same month in the previous financial year.

"This is the highest annual percentage growth (in a financial year)," Commerce and Industry Minister Anand Sharma said after releasing the trade data.

The stellar performance in exports has been made possible despite uncertainty in several European economies which are marred by debt crisis.

Imports on the other hand grew at a lesser pace of 21.5 percent despite increasing pressure on crude oil prices.

Imports for 2010-11 aggregated USD 350.3 billion, leaving a trade deficit of USD 104.4 billion.

Imports in March totalled USD 34.7 billion, up 17.3 percent year-on-year.

The country's total merchandise trade has almost touched USD 600 billion -- half of India's gross domestic product of USD 1.2 trillion.

Sharma said while the government has not fixed any target for the current fiscal, "... we will continue to strive to increase it".

India aims to achieve merchandise exports of USD 450 billion 2013-14.

Commerce Secretary Rahul Khullar said imports figures may be revised upwards leading to a trade gap increasing to USD 110-115 billion.

The good show by exports has lessened worries on the current account deficit, which Khullar said, is likely to be at USD 25-35 billion.

Engineering goods grew 84.7 percent to USD 60 billion led the show, followed by Petroleum products at USD 42.5 billion (up 50.5 percent).

Gems and jewellery grew 15.4 percent to to USD 33.5 billion, drugs and pharmaceuticals 15 percent to USD 10.3 billion.

Khullar said while there has been an improvement in demand in the US an even in EU, "my hunch is that export growth (also) came from new markets, particularly from Latin America."

Since the export growth had bottomed out in 2009-10, expansion in the last fiscal looked good under the low base impact.

However, "even if this base effect was not there the export growth would have been around 30 percent," Khullar said.

When asked if the growth rate is sustainable, he said it will be a "pipe-dream" given the global economic outlook.
 
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Exports post highest growth of 37.5% at $245.90 billion in FY'11
Updated on Tuesday, April 19, 2011, 18:45

New Delhi: Exports registered the highest ever growth of 37.5 percent at USD 245.9 billion during 2010-11, demonstrating a robust demand for Indian merchandises not just in the western economies but in new markets like Latin America as well.

Exports for March rose by a handsome 43.9 percent to USD 29.1 billion compared to the growth in the same month in the previous financial year.

"This is the highest annual percentage growth (in a financial year)," Commerce and Industry Minister Anand Sharma said after releasing the trade data.

The stellar performance in exports has been made possible despite uncertainty in several European economies which are marred by debt crisis.

Imports on the other hand grew at a lesser pace of 21.5 percent despite increasing pressure on crude oil prices.

Imports for 2010-11 aggregated USD 350.3 billion, leaving a trade deficit of USD 104.4 billion.

Imports in March totalled USD 34.7 billion, up 17.3 percent year-on-year.

The country's total merchandise trade has almost touched USD 600 billion -- half of India's gross domestic product of USD 1.2 trillion.

Sharma said while the government has not fixed any target for the current fiscal, "... we will continue to strive to increase it".

India aims to achieve merchandise exports of USD 450 billion 2013-14.

Commerce Secretary Rahul Khullar said imports figures may be revised upwards leading to a trade gap increasing to USD 110-115 billion.

The good show by exports has lessened worries on the current account deficit, which Khullar said, is likely to be at USD 25-35 billion.

Engineering goods grew 84.7 percent to USD 60 billion led the show, followed by Petroleum products at USD 42.5 billion (up 50.5 percent).

Gems and jewellery grew 15.4 percent to to USD 33.5 billion, drugs and pharmaceuticals 15 percent to USD 10.3 billion.

Khullar said while there has been an improvement in demand in the US an even in EU, "my hunch is that export growth (also) came from new markets, particularly from Latin America."

Since the export growth had bottomed out in 2009-10, expansion in the last fiscal looked good under the low base impact.

However, "even if this base effect was not there the export growth would have been around 30 percent," Khullar said.

When asked if the growth rate is sustainable, he said it will be a "pipe-dream" given the global economic outlook.

Exports post highest growth of 37.5% at $245.90 billion in FY'11
 
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Industrial growth chart

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Business Line : Columns / C P Chandrasekhar & Jayati Ghosh : Whither industrial growth?
 
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Bharat Heavy Electricals Limited (BHEL) on Tuesday said its consortium with Alstom had won a Rs.1,600-crore contract for steam turbine generators for the Kakrapur nuclear power station in Gujarat from Nuclear Power Corporation of India.

“BHEL has achieved a major breakthrough in the nuclear segment with the first ever order for steam turbine generators for new rating 700 MWe nuclear sets pressurised heavy water reactors (PHWR),” the company said in a statement. In terms of value, BHEL's share in the contract is about Rs.880 crore. In addition, BHEL has also won a Rs.40-crore contract for supply of equipment to the same project. The BHEL-Alstom consortium will supply the turbine generator packages for the two new 700 MW units of the nuclear power station.

BHEL is also presently executing several contracts for NPCIL including that for Gujarat and Rajasthan nuclear power stations besides contract for supply, erection and commissioning of the complete conventional prototype fast breeder reactor of 500 MW at Kalpakkam in Tamil Nadu.


The Hindu : Business / Industry : BHEL consortium wins Rs.1,600 crore contract
 
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Airport Metro Express takes test-run in New Delhi, India - People's Daily Online April 20, 2011

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The screen in the metro car of the Airport Metro Express is seen in New Delhi, capital of India, on April 19, 2011. The New Delhi Airport Metro Express took its test-run on Feb. 23, 2011. The metro express, the fastest and modernest one in India, has six stations and connects the Indira Gandhi International Airport with New Delhi city. Passengers could ride in the metro with the 22.7-kilometer-long journey to the airport in only 18 minutes. They could also check their luggage, get their boarding cards or park their vehicles in New Delhi Railway Station and Shivaji Stadium Stations. (Xinhua/Li Yigang)

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The special facilities in a metro car of the Airport Metro Express is seen in New Delhi, capital of India, on April 19, 2011. (Xinhua/Li Yigang)

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The entrance of the Indira Gandhi International Airport station of the Airport Metro Express is seen in New Delhi, capital of India, on April 19, 2011. (Xinhua/Li Yigang)

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The chairs in a metro car of the Airport Metro Express are seen in New Delhi, capital of India, on April 19, 2011. (Xinhua/Li Yigang)

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The inner of the Indira Gandhi International Airport station of the Airport Metro Express is seen in New Delhi, capital of India, on April 19, 2011. (Xinhua/Li Yigang)

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The luggage-rack in a metro car of the Airport Metro Express is seen in New Delhi, capital of India, on April 19, 2011. (Xinhua/Li Yigang)

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The inner of a metro car of the Airport Metro Express is seen in New Delhi, capital of India, on April 19, 2011. The New Delhi Airport Metro Express took its test-run on Feb. 23, 2011. The metro express, the fastest and modernest one in India, has six stations and connects the Indira Gandhi International Airport with New Delhi city. Passengers could ride in the metro with the 22.7-kilometer-long journey to the airport in only 18 minutes. They could also check their luggage, get their boarding cards or park their vehicles in New Delhi Railway Station and Shivaji Stadium Stations. (Xinhua/Li Yigang)

Source: Xinhua
 
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57 Indian firms in Forbes Global 2000 list

WASHINGTON: As many as 57 Indian companies including Reliance Industries, State Bank of India and Oil & Natural Gas Corp. figure in The Forbes Global 2000 list of public companies based on their rankings for sales, profits, assets and market value.

Reliance with sales of $45.3 billion is ranked 121st in the list with three public State Bank of India Group (136, $29.1 billion), Oil & Natural Gas Corp. (172, 22.6 billion) and Indian Oil (243, $52.1 billion) taking the next three places among the Indian firms.

Other companies in India's top ten were ICICI Bank (288, $13.2 billion), NTPC (348, $10.8 billion), Coal India (418, $10.4 billion), Bharti Airtel (453, $9.3 billion), Larsen & Toubro (499, $9.8 billion) and Tata Motors (512, $20.2 billion).

JPMorgan Chase is in the top spot for the second consecutive year as the world's largest company followed by HSBC, up six spots fuelled by a 121 percent growth in profits in the past fiscal year.

In total, the Global 2000 companies now account for $32 trillion in revenues, $2.4 trillion in profits, $138 trillion in assets and $38 trillion in market value. These firms also employ 80 million people worldwide.

The Asia-Pacific region led The Global 2000 again this year with 701 companies, including the most additions (11) to the list of the regions - Asia-Pacific, Europe, Middle East & Africa-EMEA, the Americas and the US - with doubled profits, by far the biggest increase.

The biggest profit centre was China, as 121 companies, including PetroChina, ICBC and Sinopec, returned an aggregate profit of $168 billion. Japan and South Korea also showed impressive gains in profits and assets.

With the US economy back on its feet, growing at a steady 3 percent clip over the past 12 months, American firms on The Forbes Global 2000 are growing far faster. Total sales were up 12 percent in 2010 over 2009, and profits continue to rise-up 69 percent, versus 56 percent for the S&P 500.

Still, the US grip on The Global 2000 has been slipping since 2004, when the number of US constituents was 751. It's now 536. The US still accounts for the most firms among the top 100 with 28.



57 Indian firms in Forbes Global 2000 list - The Times of India
 
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VADODARA: In 2015, purchasing power of Indians will be six trillion dollars, which will be third largest after United States and China. This is what Dr Jagdish Sheth, a renowned scholar and a marketing expert said here.

Sheth, who is a Charles H Kellstadt professor of marketing at US-based Emory University's Goizueta business school, was in the city on Friday where he attended three programmes.

The Management Students Forum of M S University's Faculty of Management Studies had organised 'India 2020-symposium on economic development' where Sheth spoke on the topic of 'India-The decade of destination'. At the Federation of Gujarat Industries ( FGI), Sheth spoke on 'Role of India in world class manufacturing' and he also addressed 'Innovation conclave 2011' of the Confederation of Indian Industry (CII).

"After 2020, India's economic development will be close to that of China as China will have more ageing population while India on the other hand will have more young population. The demand of economy in India will be such that the government will have to reform itself," said Sheth, adding that outsourcing of household works has promoted consumer economy in India.

"When consumer economy develops, the overall economy also develops. India is witnessing a similar trend of what had happened in US where consumer economy had developed and a new middle class was created," he said.

Sheth however pointed out that an Egypt-type revolution is possible in India as well - sooner or later. "The benefits of economic developments should reach to the poorest in order to increase their purchasing power. With economic development, expectations of people have also increased. Government is presently becoming problem instead of solution for the common man. In such a scenario, a single spark is enough to blow up the whole situation and rapid corruption might just work as a trigger," said Sheth, adding that there is a need for responsible capitalism and while creation of wealth is necessary, its equal distribution is more important.
 
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India to sell 500,000 tonnes of grain to Bangladesh: Commerce minister

Dhaka . Indian commerce minister Anand Sharma said on Saturday his country was ready to ship 500,000 tonnes of grain to Bangladesh under government to government deals.

"We are ready to ship 300,000 tonnes of parboiled rice and and 200,000 tonnes wheat to Bangladesh," Sharma told a joint news conference with his Bangladesh counterpart Lt. Col (Retd) Faruk Khan in Dhaka.

The shipment is expected to start by next one week when Bangladesh decides through which port the consignment should be handled, Sharma said without giving details.

The Indian government had agreed to export 300,000 tonnes of non-basmati rice and 200,000 tonnes of wheat to neighbouring country following a request from Bangladesh late last year.
India to sell 500,000 tonnes of grain to Bangladesh: Commerce minister - The Economic Times
 
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India generates 811 bn units electricity in 2010-11

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New Delhi, Apr 24:

India saw an electricity generation of 811 billion units (BU)in the last fiscal, marginally lower than the set target, primarily on account of shortage of coal and water.

The country, which needs enhanced infrastructure and power capacity to sustain high growth trajectory, had targeted an electricity generation of 830.8 billion units in 2010-11.

Latest figures from the Central Electricity Authority (CEA) show that power generation stood at 811.1 BU in 2010-11.

However, the figure represent a growth of over five per cent as against 768.4 BU achieved in 2009-10 financial year.

The statistics exclude generation from plants having capacity of 25 MW capacity.

In the last fiscal, the electricity generation from thermal power sources stood at 664.9 BU compared to the target of 690.9 BU.

“Growth of thermal generation was mainly restricted due to coal shortages, receipt of poor quality/wet coal, closure of some units in the Western region due to acute raw water shortage...,” the CEA said in its report

Business Line : Industry & Economy / Economy : India generates 811 bn units electricity in 2010-11
 
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