 |
|
FDI:
Inflow's impressive growth
MORE
[+]
|
|
| |
|
| |
03. INVESTMENT UPDATE |
| |
 |
| |
 |
|
FDI
inflows register impressive growth
FDI inflows have registered a consistent growth in the
last three years, Shri Kamal Nath said. During the current financial
year 2006-07(April-September 2006) Equity component of FDI inflows
was US$4.4 billion as compared to US$2.2 billion received during
the corresponding period of the previous year viz. 100% growth.
For the month of September 2006, the FDI inflows have been US$
916 million as compared to US$ 282 million received during September
2005 showing a rise of 225%. |
|
| |
|
| |
|
|
|
|
|
|
| |
Indicating continuing record growth
in India's manufacturing sector as well as record inflows of foreign
direct investment (FDI) into the country in the first six months
of the current financial year, Shri Kamal Nath, Commerce and Industry
Minister, announced that the Manufacturing Sector has shown a vigorous
growth of 12.0% in September 2006. It had grown by only 8.9% in
September 2005. During the period April -September 2006 the Manufacturing
sector grew by 12.1% compared to 9.5% during the same period of
last year, he said.
"Industry and especially manufacturing growth rate in the last two
years exceeded the overall growth rate of the economy. Industry
recorded a growth rate of 8.6% and
|
|
8.7% during 2004-05 and 2005-06. Manufacturing recorded a growth
rate of 8.1% and 9% during 2004-05 and 2005-06, respectively", he
further pointed out, adding that industry and manufacturing were
thus major contributors to the economy having consistently high
GDP growth rate in the last two years making India one of the fastest
growing economies in the world.
Meanwhile, FDI inflows have registered a consistent growth in the
last three years, Shri Kamal Nath said. During the current financial
year 2006-07(April-September 2006) Equity component of FDI inflows
was US$4.4 billion as compared to US$ 2.2 billion received during
the corresponding period of the previous year viz. 100% growth.
|
|
For the month
of September 2006, the FDI inflows have been US$ 916 million as compared
to US$ 282 million received during September 2005 showing a rise of
225%.
Giving details of industrial production, he said that Industrial Production
registered a high growth of 11.4% in September 2006, as compared to
the level in the month of September 2005.
Industrial growth during the first six months (April 2006 to September
2006) of the current financial year is up by 10.9% as compared to
8.5% registered in the same period last year, as per the Quick Estimates
of Industrial Production released by the Central Statistical Organization.
|
|
| |
|
|
|
|
|
|
| |
| |
|
|
| |
Leather Exports to reach
US$7billion by 2010 |
|
| |
|
|
| |
Shri Kamal Nath, Commerce
& Industry Minister, has said that exports from India's
leather sector are likely to reach US $ 7 billion by 2010-11.
The current export earnings from the leather sector are
about US $ 2.7 billion, with a growth of around 8%. Delivering
the keynote address at the India Leather Summit 2006 -
Towards Global Dominance, organised by the Council for
Leather Exports (CLE) here today, Shri Kamal Nath said
that in order to raise leather exports to the projected
level, annual export growth rate at an average of 20%
must be sustained and additional capacities must be created
with modern and state of the art production technologies.
|
|
| |
| |
|
|
|
|
| Indicating
that Indian leather products would get greater market
access under the World Trade Organisation (WTO)
regime, Shri Kamal Nath said: "Indian leather products
will not only get greater market access in developed
/ industrialized countries in view of tariff elimination
and reduction mechanisms through Free Trade Agreements
(FTAs), Regional Trade Agreements (RTAs) and |
|
Preferential
Trade Agreements (PTAs) but the cost competitiveness
of the domestic manufacturers will improve further
in view of gradual phasing out of import duties
in India on inputs and machinery".
The government has been playing a proactive role
through appropriate policy support measures and
financial assistance, he said, emphasising that
leather industry |
|
had been
identified as a thrust sector in view of its potential
for creating huge employment opportunities.
Further, an Integrated Leather Development Programme
is being implemented with the central allocation
of Rs.400 crore, focussing on modernisation of manufacturing
facilities in all segments of the leather sector.
|
| |
|
|
|
|
|
|
|
|
| |
| |
|
|
| |
Export up by 34% in first
seven months |
|
| |
|
|
| |
The cumulative value
of India's merchandise exports in the first seven months
(April-October) of the current financial year 2006-07
was US$69525.63 million (i.e., US$69.5 billion) or Rs.319008.94
Crore as against US$ 51516.87 million (i.e. US$51.5 billion)
or Rs.225802.14 Crore during the same period last year,
indicating a growth of 34.96% over April-October 2005-06,
according to the provisional data available from the Directorate
General of Commercial Intelligence and Statistics (DGCI&S).
Exports during the month of October were valued at US$9621.09million
(i.e. US$9.6 billion) or Rs.43744.80 crore during the
month of October 2006 compared to US $ 8082.70 million
or Rs.36225.04 Crore in October, 2005. |
|
| |
| |
|
|
|
|
|
The cumulative value of India's Imports during
April-October, 2006 was US$99755.78 million (Rs.457537.17
Crore) which was higher than imports at US$75032.08
million (Rs.328813.00 Crore) during April-October,
2005. Details of provisional and provisionally
revised figures of imports in $ and Re terms are
given in Annexure.
During the month of October, 2006 were valued
at US$15829.02million (Rs.71970.75Crore) compared
with US$11367.19 million (Rs.50945.49 Crore) in
October, 2005.
|
|
Crude Oil imports were valued at US$5346.14 million
in October 2006 compared with US $3441.25million
in the corresponding period last year thus registering
a growth of 55.35%.
Crude Oil imports during April-October 2006 were
valued at US $ 34010.19 million which was 39.45%
higher than Crude oil imports of US$24389.6million
in the corresponding period last year. Non-oil
imports were estimated at US $ 10482.88 million
during October 2006 which was 28.92%
|
|
higher than growth on non-oil imports of US$8131.38
million in October 2005. Non-oil imports during
April-October, 2006 were valued at US$65745.59
million which was 13.5% higher than the level
of such imports valued at US$57924.82million in
April - October 2005.
The trade deficit for April-October, 2006 was
estimated at US$30230.14 million which was higher
than the deficit of US$23515.21 million during
April-October, 2005.
|
| |
|
|
|
|
|
|
|
|
| |
| |
|
|
| |
Textile investment at US$7.4
billion |
|
| |
|
|
| |
According to the textile
Ministry Statement India expects investment in its textile
sector of Rs330 billion during the current fiscal year,
compared to Rs 219 billion the year before. About Rs250
billion of that would be channeled through the government-funded
textile modernisation fund, Textile Minister Shankersinh
Vaghela said.
The main feature of the Technology Upgradation Fund Scheme
(TUFS) is a 5 per cent reimbursement of interest to financial
institutions which lend under the scheme. It also offers
capital- linked credit subsidies to the textile industry.
The government had earlier said it expected to double
its fund disbursement under TUFS to Rs 300 billion in
2006/07 from 150 billion rupees in 2005/06. |
|
| |
|
|
|
|
| |
|
| |
| |
|
|
| |
32 FDI proposals worth
US$55.6 million approved |
|
| |
|
|
| |
32
foreign direct investment proposals worth Rs 250 crore
recommended by the Foreign Investment Promotion Board
at its meeting on October 20 have been approved by Finance
Minister P Chidambaram.
| |
|
|
|
|
|
These include investment plans of companies like
Volvo, Walt Disney and Honda Motor Corporation,
an official release said. The largest proposal
cleared was Singapore-based Walt Disney Company
(South East Asia) Pte Ltd's Rs 140.62 crore investment
proposal in United Home Entertainment. United
runs the popular Hungama channel.
Disney will own and operate the channel with permission
to uplink from India. It will induct foreign equity
by way of acquisition of shares from the existing
shareholders of the company. Volvo Bus Corporation's
joint venture proposal with
|
|
Bangalore-based Jaico Automobile Engineering
to produce 1,000 bus bodies a year for the Indian
market, and possibly for export, has also been
approved.
The initial investment in the JV would be Rs 27.20
crore. A Rs 45 crore proposal by US firm Beekman
Helix India Partners Llc to infuse capital into
its Indian arm - Beekman Helix India Consulting
Pvt Ltd - which invests in companies engaged in
real estate sector, has also been cleared. The
government also gave the green signal to Japan's
Honda Motor Co Ltd to set up a subsidiary for
the management of its spare parts
|
|
operations and business planning. India's textile
and clothing industry contributes about 14 per
cent to industrial production, and about 17 per
cent to the country's total exports. It directly
employs over 35 million people and another 50
million work in allied activities.
India's textile export target for the current
fiscal year is $19.7 billion - of which $4.6 billion
was recorded in the April-June quarter - compared
to $17 billion last year. The European Union is
the largest market accounting for 35 per cent
of textile exports, followed by the US at 27 per
cent, the statement said.
|
| |
|
|
|
|
|
|
| |
|
|
|
|
|
