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That article talks about manufacturing activity & export orders, not GDP. How would you know ?

"India and Russia saw decent growth in export orders in the April-June period this year even as other emerging markets' expansion eased due to weakness in the manufacturing sector, an HSBC survey has said.

The HSBC Emerging Markets Index (EMI), which is based on 21 PMI (Purchasing Managers' Index) surveys conducted across 16 emerging markets, witnessed a slight softening of emerging market activity growth as it slipped to 53 in the second quarter from 53.6 in the January-March period this year.

Of the largest emerging markets, India recorded the strongest rise in new orders, albeit at a weaker pace than in the first quarter. Rates of total new business growth in Brazil and China were only modest and marginal respectively. Russia meanwhile saw a solid expansion."



India, Russia lead emerging markets in export order growth


China Falls Behind India and Russia - 24/7 Wall St.

While both China's industrial production and export have grown more than 10% so far this year(Jan。-June),India's performances are:

(1)Export

Export blues: Fearing a June debacle, govt swings into actionNew Delhi: Spooked by the possibility of exports figures for June taking a turn for the worse, coming in the wake of the measly 3.23 per cent growth in April and a sharp contraction of 4.16 per cent in May, the government has swung into action and is chalking out crisis management plans to salvage the dis ....Read more

Indianexpress.com : comments : Export blues: Fearing a June debacle, govt swings into action

(2)Industrial production

BAD NEWS! Industrial production slows to 2.4%

BAD NEWS! Industrial production slows to 2.4% - Rediff.com Business


That article talks about manufacturing activity & export orders, not GDP. How would you know ? :cheesy:

Indians seem to forget that western media often talk up the Indian story just to hide the fact that they are very much pissed off by China's consistent growth。 China will grow and grow 7% plus till its economy is at least twice the size of the US'。
 
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India's May IIP rises 2.4 per cent, beating expectations


India’s index of industrial production (IIP), a key measure of industrial output, grew at 2.4 per cent in May 2012 from the same period in the past fiscal, against expectations of 1.8 per cent, suggesting only a modest growth in supply parameters.


The rate of IIP growth is higher than the (-) 0.9 per cent in April, a number that was revised downwards from the earlier 0.1 per cent.


A Thomson Reuters poll had suggested an increase ranging between no growth at all and 4.8 per cent. The forecast is well below the average of around 9 percent annual growth in industrial output each month before Asia’s third largest economy began to slow down in the second half of 2011.

Experts welcome the rise, but said it would do little to change the mind of the Reserve Bank of India, which has resisted cutting interest rates in the face of stubbornly high inflation. "The room to cut rates is limited because the slowdown is supply-driven, and it will not help much to ease policy rates," said Leif Eskesen, chief economist for India and ASEAN at HSBC.


The central bank is scheduled to have its next policy review at the end of this month; wholesale inflation numbers, which are used by the RBI as one of the factors in its monetary policymaking, are due next week.



Capital goods output fell to a negative 7.7 per cent. Consumer goods, on the other hand, grew at a more robust 4.3 per cent, driven by a 9.3 per cent surge in durables and a niggardly 0.1 per cent growth in non-durables.



Capital goods, a key investment indicator, has risen only once in the last eight months, the biggest drag on the overall index. The lack of growth in capital goods, such as mhinery and equipment that are key inputs for industry, suggests that companies are wary of making investments in high-interest, uncertain economic climate.



Core sector growth, comprising eight key industries that are the primary drivers of industry, grew 3.8 per cent in May, only slightly more than the 3.1 per cent in April. Key areas such as mining, manufacturing and electricity grew at (-)0.9, 2.5 and 5.9 per cent, respectively. The mining sector, in particular, has been hit by judicial directives banning mining in a number of states due to the high incidence of illegal extraction.



Manufacturing showed some promise of an uptick as 12 out of 22 industry groups showed positive growth in May. Machinery and equipment grew 13.7 per cent while facbricated metal products grew 12.6 per cent. However, electric machinery and apparatus, which are increasingly the industrial norm were a dampener at (-) 28.6 per cent, clearly reflecting industry's reluctance to pour money into capacity.




The slow growth in the core sector was largely on account of a contraction in half of the industries in that index. Core sector growth also belied a steady HSBC Purchasing Managers’ Index (PMI), which maintained its position in May, even though PMI trends do not necessarily translate into IIP growth. The index has remained above the 50-mark that divides growth from contraction for more than three years.


The core sector comprises key infrastructure industries of coal, crude oil, natural gas, refinery products, fertilisers, steel, cement and electricity, and accounts for about 38 per cent of overall industrial output. Trends in infrastructure data are typically reflected in the core sector’s headline number.


The numbers suggest that the economy will continue to grow at a more leisurely pace than the 8 per cent and more it had seen in the past two financial years. In the financial year ending March 2012, India’s economy clocked a 6.5 per cent rate of growth, dragged down by a nine-year low of 5.3 per cent in the March quarter.



While that is more than what most developed nations can boast of, the slower pace of growth is ominous for the Indian economy, which continues to struggle with a high fiscal deficit, waning global investor interest, a high interest rate regime, and indecisiveness at the highest levels of government that has prevented key economic reforms from being carried out.

India's May IIP rises 2.4 per cent, beating expectations


Industrial output growth picks up in May, up 2.4 pct


(Reuters) - India's industrial output picked up more than expected in May, bolstering the case for the Reserve Bank of India (RBI) to keep interest rates high at its next policy meeting as a slow start to the monsoon puts pressure on inflation, especially food prices.

Industrial production rose 2.4 percent in May from a year earlier, driven by manufacturing growth, data released on Thursday showed. The number, which was ahead of a Reuters poll forecast for an 1.8 percent increase, was the largest growth in output since February.

India's industrial output data is volatile -- the government revised last month's number to a 0.9 percent contraction after initially coming in flat. But IIP is nevertheless taken as a barometer of economic growth, which fell to 5.3 percent in the quarter up to March, the slowest pace in nine years.

Analysts greeted the number as moderately positive but said the RBI would pay more attention to wholesale price inflation published next week when deciding monetary policy at a July 31 meeting.

"Today's number is better than last month's but it does not signal that we are in the middle of an upturn," said Sanjay Mathur, head of research and strategy at RBS in Singapore.

"Unambiguously, it is a weak number for a domestic demand-driven economy like India. With the Reserve Bank of India looking at fighting inflation, it is likely to hold its rates steady in the July review."

GRAPHIC - India output/exports: link.reuters.com/gaj55s

Capital goods, a key investment indicator that has shown growth only once in the past 9 months, slumped 7.7 percent in May.

Prime Minister Manmohan Singh, a veteran economist, took charge of the finance ministry last month vowing to revive the economy's 'animal spirit' by attracting investment and speeding up infrastructure and power projects.

India's battered stock market and rupee have performed better since Singh took over the ministry, with investors hopeful he can usher in economic reforms and reduce last year's gaping 5.8 pct fiscal deficit.

The Sensex gained 7.5 percent in June compared with a 3.5 percent gain in the MSCI Asia-Pacific ex-Japan index. The rupee has gained 3.5 percent since sinking to a record low of 57.32 against the dollar on June 22.

Markets showed little reaction to the industrial output. As of 11:25 a.m. India time (0555 GMT), the Indian rupee had weakened to 55.66/68 per dollar from around 55.58 before the data, tracking weaker global markets.

Battling stubbornly high price rises, the Reserve Bank of India resisted pressure from banks and businesses to cut its key repo rate from 8 percent last month and may again stick to its guns at its end-of-the month meeting.

India's Wholesale Price Index, the benchmark inflation indicator, is published on Monday for June. A Reuters poll predicted June inflation hitting a 2012 high of 7.62 percent, with lower global oil prices likely to be offset by a large jumps in the cost of potatoes and tomatoes because of delayed rainfall.

Manufacturing, which constitutes nearly 76 percent of industrial output, grew 2.5 percent in May from the year-ago period, Thursday's data showed.

Industrial output growth picks up in May, up 2.4 pct | Reuters
 
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India Backs a New Exchange




India is about to get its third national stock exchange, just as trading volume here dwindles. MCX Stock Exchange, known as MCX-SX, has received approval from India's capital-markets regulator to offer trading in equities and related products, the exchange said.



By Shefali Anand



MUMBAI—India is about to get its third national stock exchange, just as trading volume here dwindles.

MCX Stock Exchange Ltd., known as MCX-SX, has received approval from India's capital-markets regulator to offer trading in equities and related products, the exchange said. The Securities and Exchange Board of India has given MCX-SX permission to deal in equities, equity futures and options, interest-rate futures and some types of debt instruments, the company said late Tuesday.

Agence France-Presse/Getty Images Stock trading in India has been slowing. Above, the Delhi exchange.

The approval for a new stock exchange comes at a time when trading volumes in India's stock market have been shrinking as investors world-wide grow less willing to take on risk and concerns mount about India's economy. In May,for instance, the average daily turnover on Bombay Stock Exchange Ltd.'s bourse was $350 million, compared with $600 million a year earlier. In recent years, trading has shifted from stocks into products such as options and futures.

MCX-SX could also find it tough to persuade companies to list on its platform, because a large number of Indian companies already are listed on the the BSE and a bourse run by National Stock Exchange of India Ltd. In an interview, Jignesh Shah, founderof Financial Technologies India Ltd., which created the new exchange, pointed out that India allows companies to list on more than one exchange. He said he is confident of being able to attract even large enterprises.

The business of stock exchanges is proving a draw for investors. The London Stock Exchange Group PLC is in talks to buy a stake in the Delhi Stock Exchange, according to two people briefed on the talks. The Delhi Stock Exchange has been dormant for several years but now hopes to revive itself. The London exchange declined to comment.

"There is so much to be developed fora full-fledged capital market," said Mr.Shah.

Globally, Mr. Shah said, equities are a small part of securities trading volumes, while other investments likecommodities, debt, interest-rate derivatives and currencies are increasingly important, and that recent changes in regulation have paved the way for bringing some of these products to India. He hopes to capitalize on that.
com/device/article.php?CALL_URL=http://online.India Approves a New Bourse - WSJ.com
 
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India industrial output growth slow to 2.4%

12/7/2012


India’s industrial output data is volatile — the government revised June’s number to a 0.9 per cent contraction after initially coming in flat. India industrial output slow to 2.4% in May.

“Unambiguously, it is a weak number for a domestic demand-driven economy like India. With the Reserve Bank of India looking at fighting inflation, it is likely to hold its rates steady in the July review.”

:fie::fie:
 
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'India is world No. 21 in outward FDI'

India has emerged as the world's 21st largest outward investor, with an investment of over USD 75 billion across the world over the past decade, a Columbia University report has said.

"India is now the world's 21st largest outward investor, which is significant given its historically minuscule foreign direct investment (FDI) outflows," said the Vale Columbia Center on Sustainable International Investment in its report released on Outward FDI from India.

"Annual FDI outflows have jumped fifty-fold after 2000, and Indian firms have invested over USD 75 billion overseas in the past decade, in some cases to attain global status by acquiring world-leading firms," the report said.

Substantial improvements in the country's economic performance and the competitiveness of its firms and their strategy, resulting from ongoing liberalisation in economic and outward FDI (OFDI) policies, made these developments possible, it said.

Indian firms now invest across a wide variety of sectors and countries, departing from their historical focus on trading and textile investments in developing countries.

Following the 25 per cent crisis-induced drop in Indian OFDI in 2009, Indian firms are once again increasing their overseas investment, including through mergers and acquisitions (M&As), the report said.

"India¿s OFDI should continue its rapid upward trend over the next few years, as more companies seek to transfer their products and service innovations to new markets, and acquire strategic international know-how and market shares, particularly in crisis-hit developed economies," it said.

Another report by the Columbia university released yesterday said that India is now the world's 13th largest FDI host country.
:cheers::mps:

'India is world No. 21 in outward FDI' - Indian Express Mobile
 
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India industrial output growth slow to 2.4%

12/7/2012


India’s industrial output data is volatile — the government revised June’s number to a 0.9 per cent contraction after initially coming in flat. India industrial output slow to 2.4% in May.

“Unambiguously, it is a weak number for a domestic demand-driven economy like India. With the Reserve Bank of India looking at fighting inflation, it is likely to hold its rates steady in the July review.”

:fie::fie:


India's May IIP rises 2.4 per cent, beating expectations


India’s index of industrial production (IIP), a key measure of industrial output, grew at 2.4 per cent in May 2012 from the same period in the past fiscal, against expectations of 1.8 per cent, suggesting only a modest growth in supply parameters.



The rate of IIP growth is higher than the (-) 0.9 per cent in April, a number that was revised downwards from the earlier 0.1 per cent.

India's May IIP rises 2.4 per cent, beating expectations
 
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India, Russia lead emerging markets in export order growth

China Falls Behind India and Russia - 24/7 Wall St.
Original Post By IndoCarib

India's May IIP rises 2.4 per cent, beating expectations

look at your guys are so happy with 2.4%, up from 0.9% in April.
but that 2.4% can not put Indian ahead of China's 9.6%

--------- May ---------
China’s industrial production growth for May increased slightly from April.
Industrial production increased by 9.6% in May compared to a year ago (in real term), recovered slightly from 9.3% yoy in April, but below consensus of 9.8% yoy. On a month-on-month basis, industrial production increased by 0.89%, up from 0.35% in April.
--------- April ---------
(Reuters) - Chinese industrial production weakened sharply in April as investment slowed to its lowest level in nearly a decade, showing an economy that is surprisingly vulnerable to a global slowdown and a credit crunch at home.

Industrial production rose by 9.3 percent in April, the lowest level since May 2009, while retail sales surprised the market by slowing to a 14.1 percent rise, the lowest level in 14 months.

image46.png
 
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all the while China is doing its best to keep the brake on one of the pillars of growth:housing。

If the government were to relax, let alone revoke,the numerous severe,and in many cases radical, restrictions on the purchase of properties,China‘s growth would be back on the 9% plus trajectory over night。

Monetarily, China is in the fortunate position of having huge room for a much lower RRR and cutting interest rates to spur growth。

There are also many ways to stimulate domestic consumption, such as halving or removing vehicle purchase tax, as was in 2008, or lifing restirctions on the registration plates issued each month in large cities such as Beijing, Shanghai and Guangzhou, which will give a mighty and immediate boost to passenger car sales.

As a last resort, the government can always spend(i.e. massive investment in various sectors of the economy, including infrasturcture, waster conservations, new energy etc) to give the economy a shot in the arm.

Mounting trade imbalances。 Huge fiscal deficits。High interest rates and stubbornly high inflation。Collapsing rupee。Policy paralysis. What tools does India possess to promote growth? Zilch!
 
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look at your guys are so happy with 2.4%, up from 0.9% in April.
but that 2.4% can not put Indian ahead of China's 9.6%

India government revised April month's number to a -0.9 percent contraction

revised -0.9 percent decline in April :cry:
 
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Why people are discussing China in Indian economy thread?

Rupee up 42 paise against dollar in early trade

The rupee gained 42 paise to 55.52 against the US dollar in early trade on Friday at the Interbank Foreign Exchange market as the American currency weakened against Asian currencies overseas. Besides, a higher opening in the local equity market and selling of dollar by exporters also supported the rupee, dealers said.

The domestic currency had weakened by 31 paise to close at a nearly two-week low of 55.94 a dollar in yesterday's trade, tracking a weak trend in stocks amid a smart rise in the dollar overseas as fears over EU crisis deepened further.

Meanwhile, the BSE benchmark index Sensex recovered by 105.75 points, or 0.61 per cent, to 17,338.30.

Rupee up 42 paise against dollar in early trade - Hindustan Times
 
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Tata Consultancy Services profit grows


India's biggest IT outsourcing firm, Tata Consultancy Services (TCS), has reported a 38% rise in first-quarter net profit, helped by a weak rupee and a jump in outsourcing orders.

TCS made a net profit of 32.8bn rupees ($587m; £380m) in the three months to June, up from 23.8bn rupees a year ago, and ahead of analysts' expectations.

Revenue jumped 37.7% to 148.7bn rupees.

"We saw strong growth across all industries driven by robust volumes from key markets like North America, Europe and Latin America," said TCS chief executive N Chandrasekaran.

"Looking ahead, we continue to see good demand from global corporates as they navigate an increasingly complex environment."

TCS is part of the Tata Group conglomerate.

BBC News - Tata Consultancy Services profit grows



TCS Futuristic Office

 
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