Economic Survey calls for multi-format retailing

September 9th, 2009 Fed survey: most of US in economic healing modeWASHINGTON — A new government survey finds the vast majority of the country reporting economic activity is stabilizing or improving, as the worst recession since the 1930s appears to be over. The Federal Reserve's snapshot of economic conditions backs predictions by Fed Chairman Ben Bernanke and most other analysts that the economy has started to grow again in the current quarter.

July 2nd, 2009 NEW DELHI - The Indian economy can expand as much as 7.75 percent this fiscal, says the country's Economic Survey for 2008-09, while calling for sweeping reforms in areas like foreign investment, divestment, taxation and the subsidy regime. "If the US economy bottoms out by September 2009 there would be good possibility for the Indian economy repeating its 2008-09 performance," said the country's annual economic report card tabled in parliament by Finance Minister Pranab Mukherjee.

July 2nd, 2009 NEW DELHI - India's Economic Survey for 2008-09 has suggested that the government amend laws related to land acquisition and land use in order to address land-related disputes. The survey, tabled in parliament by the finance minister, said the government "amend the land acquisition and rehabilitation law in order to ensure equity between the land owners including farmers, land users and the developers".

July 2nd, 2009 NEW DELHI - The Economic Survey tabled in parliament Thursday has sought the integration of diamond processing sector with jewellery manufacturing so as to boost exports. "Forward integration of the diamond processing sector to jewellery manufacturing, where the value addition achieved is the highest, will help in boosting the export performance once the existing economic downturn passes by, the survey said.

July 2nd, 2009 NEW DELHI - The Economic Survey the government presented in parliament Thursday called for revitalising the divestment policy so as to generate at least Rs.25,000 crore (Rs.250 billion/$5.22 billion) annually. List all unlisted public sector enterprises and sell a minimum of 10 percent of equity to the public, the survey stated.

July 2nd, 2009 CHENNAI - Life insurance penetration in India dipped in 2007, first time since the sector was opened up for private players a decade ago, said the country's Economic Survey for 2008-09 released here Thursday. "The life insurance penetration in India increased from 1.77 percent in 2000 to 4.1 percent in 2006, before declining to 4 percent in 2007," the survey tabled in parliament by Finance Minister Pranab Mukherjee said.

July 2nd, 2009 NEW DELHI - After the high growth cycle that followed the economic reforms of 1990s, India should now bring in sweeping changes in its investment climate for the next stage of growth, the Economic Survey for 2008-09 released here Thursday said. "The reforms of the 1990s created a competitive environment in which Indian entrepreneurship could flourish.

July 2nd, 2009 NEW DELHI - Suggesting some sweeping reforms in areas like foreign direct investment, divestment, taxation and the subsidy regime, India's Economic Survey says the country can achieve 7.75 percent growth this year despite the difficult global circumstances. The economy can even expand much higher than last year's growth if the monsoon rains were normal, said the country's annual economic report card for 2008-09 tabled in parliament Thursday by Finance Minister Pranab Mukherjee.

July 2nd, 2009 NEW DELHI - The Economic Survey 2008-09 tabled in parliament Thursday has sought to end the controversy surrounding allocation of radio frequency by advocating an open and transparent auction process. "Spectrum should be auctioned and be freely tradeable among companies having a telecom licence, the survey said.

July 2nd, 2009 NEW DELHI - There should be a single regulatory body for the transport sector including highways, railways, ports and airports to ensure better cohesion, the Economic Survey for 2008-09 tabled Thursday has suggested. According to the survey, there should be at least one member from each of these sub-sectors and the authority could have specialized groups of professionals in each sector.

July 2nd, 2009 NEW DELHI - India's Economic Survey for 2008-09, tabled in parliament Thursday, called for revising specific custom duties on the textiles sector to ensure that they match ad valorem tax rates. "Specific duties are intrinsically more opaque than ad valorem tariffs, tending to conceal high ad valorem equivalents.

June 22nd, 2009 German businesses expect improvement, survey showsBERLIN — Business confidence in Germany, Europe's largest economy, dropped to a new all-time low in June but expectations for the future continued to improve, a closely watched survey showed Monday. The Munich-based Ifo institute's business climate index — an average of its current situation and future expectations numbers — improved overall to 85.9 points from 84.3 the month before, the third consecutive increase since March when the indicator hit a 26-year low of 82.2 points.

June 9th, 2009 New Delhi, June 9 IANS) Dubai-based jewellery and watch trading company Damas has secured approval for a single brand retail joint venture in India with an investment of Rs.1.8 billion ($36 million), an official statement said Tuesday. The group's proposal, among the 22 others approved by the Foreign Investment Promotion Board with an investment of Rs.5.6 billion (around $110 million), calls for a joint venture in India with 51 percent equity.

June 8th, 2009 NEW DELHI - Despite signs of an improving economy, India Inc feels actual recovery will happen only after September, a survey by the Confederation of Indian Industry (CII) has found. According to the survey, conducted by the CII northern region, 96 percent of respondents believe a turnaround would happen only in the second half of 2009-10, thanks to the ongoing global slowdown The survey found 72 percent of respondents expecting the economic growth to be in the range of 5-7 percent this fiscal.

March 12th, 2009 HYDERABAD - Online marketing has been made easy and accessible to manufacturers, organised and individual retailers with the introduction of a multi-channel online retail solution by Reasoning Global e Applications. Following the present menacing gloom of recession on markets across the board, Reasoning launched MartJack, the multi channel online retailing solution as the perfect remedy to counter present market conditions.