LOG ON TO OUR OFFICIAL WEBSITE @ www.hcindia-au.org
  
     
   
  INSIDE THIS ISSUE
   
   
   
  01 MAIN
   
   
  02 NEWSMAKERS
   
   
  03 INVESTMENT UPDATE
   
   
  04 TRADE & ECONOMY
   
   
  05 OPPORTUNITY INDIA
   
   
  06 CULTURE
   
   
  07 TRAVEL
   
   
  08 CALENDAR
   

   
  HIGHLIGHTS
   
 

Index of Six Infrastructure Industries
MORE [+]

 
  Indian Spices
MORE [+]
 
  On a Hindu
Pilgrimage Trial
MORE [+]
 

 
04. TRADE AND ECONOMY
INDEX OF SIX INFRASTRUCTURE INDUSTRIES : AN OVERVIEW


Cement

Cement production (weight of 1.99% in the IIP) registered a growth of 6.8% (provisional) in January 2007 compared to 15.4% in January 2006. Cement Production grew by 9.5% (provisional) during April-January 2006-07 compared to an increase of 11.4% during the same period of 2005-06.  .

Finished (carbon) steel

Finished (carbon) Steel production (weight of 5.13% in the IIP) registered a growth of 10.4% (provisional) in January 2007 compared to 14.3% (estimated) in January 2006. Finished (carbon) Steel production grew by 9.8% (provisional) during April-January 2006-07 compared to an increase of 11.1% during the same period of 2005-06. 
INDIA SEVENTH LARGEST PRODUCER OF STEEL
International Iron and Steel Institute (IISI) has ranked India as the seventh largest steel producer in the world with an overall production of about 40 million tonne in 2006, Lok Sabha was informed.  Replying to a written question, minister of state for steel Akhilesh Das informed the House that India’s ranking in terms of annual steel production increased from ninth in 2004 to seventh in 2006. He said the government is not taking any direct steps to push India’s global ranking but considering the importance of the sector, it is aiming at achieving production level of 110 million tonne by 2019-20.

 
The Index of Six core-infrastructure industries having a combined weight of 26.7 per cent in the Index of Industrial Production (IIP) with base 1993-94 stood at 238.8 (provisional) in January 2007 and registered a growth of 8.7% (provisional) compared to a growth of 8.2 % in January 2006.  During April-January 2006-07, six core-infrastructure industries registered a growth of 8.4%(provisional) as against 5.8% during the corresponding period of the previous year.

Crude Petroleum

Crude petroleum production (weight of 4.17% in the IIP) registered a growth of 4.7% (provisional) in January 2007 compared to a negative growth rate of 4.9% in January 2006.  The Crude petroleum production registered a growth of 5.9% (provisional) during April-January 2006-07 compared to (-) 5.8% during the same period of 2005-06.

Petroleum Refinery Products

Petroleum refinery production  (weight of 2.00% in the IIP) registered a growth of 9.0% (provisional) in January 2007 compared to growth of 5.5% in January 2006. The Petroleum refinery production registered a growth of 12.2% (provisional) during April-January 2006-07 compared to 1.0% during the same period of 2005-06.

coal

Coal production (weight of 3.22% in the IIP) registered a growth of 10.0% (provisional) in January 2007 compared to a growth rate 8.2% in January 2006. Coal production grew by 5.2% (provisional) during April-January 2006-07 compared to an increase of 6.4% during the same period of 2005-06. 

Electricity

Electricity generation (weight of 10.17% in the IIP) registered a growth of 8.5% (provisional) in January 2007 compared to a growth rate 6.4% in January 2006. Electricity generation grew by 7.6% (provisional) during April-January 2006-07 compared to an increase of 4.9% during the same period of 2005-06.

 

ROBUST INDUSTRIAL GROWTH RECORDED IN 2006-07
 

The period April-December 2006 saw one of the highest industrial growth rates ever since the industrial liberalization process was initiated in 1991, according to the Annual Report of the Ministry of Commerce and Industry (Department of Industrial Policy and Promotion. This period witnessed an Industrial growth rate of 10.8% compared to an 8 % growth rate in the corresponding period last year. The growth was led by the Manufacturing sector, which grew by 11.8% in the same period. Meanwhile, the capital goods sector maintained its robust performance recording a 17.5 % growth (Apr-Dec 2006) on top of a 15.7% growth in the corresponding period last year. “This has been possible due to new investment and capacity addition by the industry. This augurs well for the future growth of Indian Industry because plants, machinery and mother goods, which constitute this sector are needed for further production”, notes the Annual Report.

 

The infrastructure sector has also shown consistent growth with all the six core industries viz. electricity, crude petroleum, petroleum refinery products, coal, steel and cement registering positive growth rates. Overall, these sectors grew by 8.3 % during April-December 2006 compared to a 5.5 % growth in the same period last year. 

India’s forex reserves stood at US $ 193.12 billion on February 23, 2007 up from US$ 151.62 billion at the end of March 2006. The continued surge in forex reserves reflects continued inflow of foreign capital, investors’ confidence and good performance of exports. Further, FDI inflows (equity capital components only) during April-December 2006-07 had been US $ 9,272 million against US $ 3,697 million in corresponding period last year representing an increase of 151%. 

AGRI MARKET CANNOT BE OPENED TO SUBSIDISED IMPORTS, KAMAL NATH
 

Agricultural markets of developing countries like India cannot be opened to subsidised imports from developed countries, Shri Kamal Nath, Minister of Commerce & Industry, said at a meeting with the Commonwealth Secretary General, Mr. Don McKinnon, while giving his views on the status of multilateral trade negotiations under the Doha Round of the World Trade Organisation (WTO).  Mr. McKinnon agreed with Shri Kamal Nath that such subsidies distorted world prices and thereby aversely impacted on farmers in developing countries.

          Mr. McKinnon was in India  on an official visit in connection with the International e-Partnership Summit of the Commonwealth Connects Programme, which was inaugurated by the President A.P.J. Abdul Kamal in New Delhi.

Welcoming Mr. McKinnon, Shri Kamal Nath warmly recalled their earlier meetings, especially during the last CHOGM in Malta in November 2005 when he had led the Indian delegation.

          India is a member of key Commonwealth bodies and has a natural and historical partnership with the Commonwealth – an organisation which promotes democracy, good governance and technical assistance.  Commonwealth has a preponderance of developing countries and small states. India will host the annual Commonwealth Parliamentary Association Conference in 2007.  India has previously hosted this event in 1957, 1975 and 1991. India will host Commonwealth Youth Games in Pune in 2008 and Commonwealth Games in New Delhi in 2010.

 


MAIN I NEWSMAKERS I INVESTMENT UPDATE ITRADE & ECONOMY I INFOTECH I CULTURE I TRAVEL I CALENDAR

     
 
BACK TO TOP