Indian Economy-News & Updates

[cirr]

For comparison，China's Oct. exports rose some 12% y-o-y.

Exports dip 1.63% to $23.2 bn in Oct

November 12, 2012 12:43 IST

India's exports in October contracted 1.63 per cent year-on-year, for the sixth month in a row, to $23.2 billion, mainly due to the demand slowdown in the US and European markets.

Exports on October 2011 stood at $23.6 billion.

However imports grew by 7.37 per cent to $44.2 billion in October, leaving a trade deficit of $20.96 billion.

During the April-October period of the current fiscal, the country's shipments have shrunk by 6.18 per cent to $166.92 billion. Imports during the period dipped by 2.66 per cent to $277.13 billion.

"The world trade is continuously contracting. Our integration with the world trade has increased so any ripple worldwide will impact India's trade," Commerce secretary S R Rao told reporters in New Delhi while releasing trade figures on Monday.

He also said that the country's import bill has increased due to jump in the gold and petroleum imports.

During the first seven months of the financial year, the trade deficit stood at $110.2 billion.

Oil imports in October increased by 31.6 per cent year-on-year to $14.78 billion. However, non-oil imports declined by 1.73 per cent to $29.42 billion.

During April-October 2012, oil imports grew by 10 per cent to $95.5 billion from $86.8 billion in the corresponding period last year.

However, non-oil imports during the period dipped by 8.22 per cent year-on-year to $181.56 billion.

Exports dip 1.63% to $23.2 bn in Oct - Rediff.com Business

 

[cirr]

India Sept industrial production likely rose 2.8%

India's industrial production likely grew at a steady but slow annual pace in September, lifted by infrastructure output, in what is likely to be further evidence of a sluggish economy, a Reuters poll showed.

The index of industrial production (IIP), which measures the output at factories, mines and utilities, rose an annual 2.8 percent in September, the fastest since February, according to a survey of 25 economists.

Talking about the ever-so-optimistic Indians:

India's industrial output dips by 0.4% in Sep

November 12, 2012 11:53 IST

Indicating persistent sluggishness in the economy, industrial production contracted by 0.4 per cent in September due dismal show by manufacturing sector and decline in consumer as well as capital goods output.

Growth in overall factory output, as measured by the Index of Industrial Production (IIP), was 2.5 per cent in September last year.

Industrial output in the April-September period this fiscal was 1 per cent, down from 5.1 per cent in the same period in 2011-12, according to the official data released on Monday.

Meanwhile the industrial production growth rate for August this year was revised downward to 2.3 per cent from earlier provisional estimates of 2.7 per cent released last month.

The output of manufacturing sector, which constitutes over 75 per cent of the index, contracted by 1.5 per cent in September, as against a growth of 3.1 per cent in the same month last year.

The production in the manufacturing sector in April-September this year also dipped by 0.4 per cent as against a growth of 5.5 per cent growth in the same period in 2011-12.

Capital goods output declined by 12.2 per cent in September, as against a contraction of 6.5 per cent in September, 2011.

Output of capital goods contracted in the April-September period by 13.7 per cent, as against growth of 4.6 per cent in the 2011-12 period.

However, mining output in September grew by 5.5 per cent as against a contraction of 7.5 per cent in same month last year. The sector's production in April-September was flat as compared to a contraction of 1.6 per cent in a year ago.

Consumer goods production was down by 0.3 per cent in September as compared to a growth of 5.7 per cent in same month last year. In April-September period of this fiscal, the growth in the segment was 2.5 per cent, compared to 4.7 per cent in the first half of last fiscal.

India's industrial output DIPS by 0.4% in Sep - Rediff.com Business

That would be only slightly better than 2.7 percent in August, less than a third of the rates of over 9 percent clocked in 2010 and well off the double-digit growth seen during the boom times before the global financial crisis hit in 2008.

India Sept industrial production likely rose 2.8% - Reuters

 

[laman12345]

India Sept industrial production likely rose 2.8%

India's industrial production likely grew at a steady but slow annual pace in September, lifted by infrastructure output, in what is likely to be further evidence of a sluggish economy, a Reuters poll showed.

Sorry to tell you a VERY BAD NEWS:

India Sept industrial production is -0.4%
India Sept industrial production is -0.4%
India Sept industrial production is -0.4%

Indian industrial production unexpectedly fell in September, deepening worries that the economy is still in a slowdown. Government data Monday showed that industrial output in September shrank 0.4% from a year earlier.

India Industrial Output Unexpectedly Declines as Economy Falters - Bloomberg

 

[INDIC]

Slump in exports widens trade deficit with China

Slump in export to China is declining because China own exports of finished goods to the western countries is declining and china mostly buy raw material for her industry from India. China's slowdown is also affecting India.

 

[laman12345]

Slump in export to China is declining because China own exports of finished goods to the western countries is declining and china mostly buy raw material for her industry from India. China's slowdown is also affecting India.

lol China’s export growth accelerates in October in sign of economic recovery, Jealous?

October, 2012

China industrial output +9.6%
india industrial output -0.4%

China Export +11.6%
India Export -1.63%

China RMB = Rising to historically Highest Record
India Rupee = falling 10% this year


Exports rose 11.6 percent from a year earlier, up from the previous month’s 9.9 percent rate, data showed Saturday.


China's export growth accelerates in October in sign of economic recovery - The Washington Post

 

[cirr]

Meanwhile inflation has gone through the roof.

If policy makers in China, where Oct. CPI is a mere 1.7%, were to allow this level of inflation, the Chinese economy would be growing at not 7.8% but 10% plus.

Higher food prices push up inflation to 9.75% in Oct

November 12, 2012 12:30 IST

Driven by rising prices of food items such as sugar, pulses and vegetables as well as clothing, retail inflation moved closer to the double digit mark at 9.75 per cent in October.

It was 9.73 per cent in the previous month, according to the Consumer Price Index (CPI) data released on Monday.

Higher food prices push up inflation to 9.75% in Oct - Rediff.com Business

 

[laman12345]

India inflation out of control, 9.75% in October


* India inflation hit 11-month high in October
* China inflation = 1.7% (at lowest in 10 years)

The spurt in prices of sugar, pulses, vegetables and clothing has pushed retail inflation closer to the double-digit mark of 9.75 per cent in October, compared with 9.73 per cent in September 2012. The indices are on base 2010=100.

Business Line : Industry & Economy / Economy : Food, clothing push inflation up 9.75% in October

 

[INDIC]

China RMB = Rising to historically Highest Record
India Rupee = falling 10% this year

Its simple fact rising Renmenbi is not good for China's export oriented economy. Your export sector is still recovering but even then Chinese GDP growth has reached all time low of 7.4%

 

[laman12345]

Its simple fact rising Renmenbi is not good for China's export oriented economy. Your export sector is still recovering but even then Chinese GDP growth has reached all time low of 7.4%

so what? our export is still much much stronger than you (+11.6%), we enjoy Huge trade Surplus

how about India? Rupee falling 10% but Export -0.4%

 

[INDIC]

so what? our export is still much much stronger than you (+11.6%), we enjoy Huge trade Surplus

how about India? Rupee falling 10% but Export -0.4%

Bhaijaan, what about your own country. What about your other id kkacer bhaijaan.

 

[laman12345]

Bhaijaan, what about your own country. What about your other id kkacer bhaijaan.

I am not kkacer. Big talk can't save your country

India's Industrial output falling
Export falling
Huge trade defict
High debt
India Rupee falling

Inflation hit 11-month high, Food inflation over 10% --- what a terrible situation

 

[WAR-rior]

Ha Ha. These Chinese.

Dont worry guyz. We r not gonna go bankrupt. If Pakistan dint go, then theres no question of ours.

Good Chinese doing well and so will we in our own style. U shud be the last sane person comparing china with india as far as growth is concerned. Now i dont wanna bring chinese style of growth and talk bout ghost town, empty bullet trains etc etc. U have ur style we have ours. U grew despite corruption. We will grow after eradicating corruption and that day is not far away.

Dont act like losers.

 

[DARIUS]

It seems that the Chini members on this forum are far more interested in painstakingly finding out flaws and negative news about the Indian economy rather than their own CCP that is ****** corrupt!!Amazing that most posts on this forum are by Chini members and that too all the negative ones compared to the positive posts by the Indians,This actually goes on to show that the Chinese are obsessed with their western neighbor and are pretty frightened!! Otherwise why the hell would they even bother to spend their precious time searching about and obsessing over India!!The Chinese society (socially,politically. . .etc.)being what it is the people of the country know too little or perhaps nothing about whats going on in their own country and hence this constant obsession about India,"India may go ahead of us","India may leave us behind". . . . What I want to say is that our authorities are competent enough to take care of both the economy and eternal threats so the Chinese need not bother.First find out for real whats going on in ur country and then poke ur little nose in the affairs of democracies.I am not implying that we Indians(other than RAW) know much about whats going on in China given that u guys are pretty uptight in terms of foreign policy but we are pretty confident about our own motherland since here there is a certain thing called accountability and transparency and everything is out in the open.So live peacefully without worrying and loosing sleep over India!!

 

[Kyusuibu Honbu]

I am not kkacer. Big talk can't save your country

India's Industrial output falling
Export falling
Huge trade defict
High debt
India Rupee falling

Inflation hit 11-month high, Food inflation over 10% --- what a terrible situation

Do you feel sorry for India?

 

[DARIUS]

Do you feel sorry for India?

They are only bothered about India's defence budget friend.Take my word for that!!And since economy is important for defence spending it has become and obsession since they still re clinging on to their wet dreams about Kashmir and Mughalistan and all that crap. . . . Whenever these Chini's and Chini disguised Pakistanis hear anything negative about India it acts as Burnol on their burning *** irrespective of the credibility of the news!!

BTW I heard Mr. Kejriwal is going to name his party today. . . any news??