India's industrial output up 10.4 percent in AugustOctober 12th, 2009 NEW DELHI - Further signs of recovery in Indian industry emerged Monday with the latest official data indicating a growth of 10.4 percent in industrial production during August this year - highest in the last 22 months - over the corresponding month last year. The index for industrial production grew 10.4 percent in the month, as per the data released by the Central Statistical Organisation here.
IEA raises 2010 oil demand forecast amid signs of global economic recoveryOctober 9th, 2009 Global oil demand seen rising amid recoveryPARIS — Faster economic growth next year, particularly in the developing world, will drive oil demand higher than previously expected, the International Energy Agency said Friday. The Paris-based IEA, which advises oil-consuming countries, said crude demand would reach 86.1 million barrels a day in 2010, up 1.7 percent from this year, the IEA said in its monthly oil report.
'India's scientific research grew 80 percent since 2000'October 6th, 2009 NEW DELHI - There has been an 80 percent increase in India's scientific research output since 2000, a news study revealed Tuesday, forecasting that the country will overtake all other countries between 2015 to 2020. The study carried out by British firm Thomson Reuters that owns the news agency Reuters was released in Delhi Tuesday.
India's GDP records 6.1 percent growth in first quarterAugust 31st, 2009 NEW DELHI - India managed a reasonable economic growth of 6.1 percent during the first quarter of the current fiscal despite the global financial crisis impacting manufacturing and services sectors. Country's Gross Domestic Product (GDP) growth rate during April-June 2009 at 6.1 percent was higher than 5.8 percent in the previous quarter.
Standard & Poor's raises India's growth forecastAugust 13th, 2009 NEW DELHI - Global rating agency Standard & Poor's (S&P) Thursday raised India's growth forecast for the current fiscal from 5.8 percent to 6.3 percent taking into account the improving performance of the industrial sector. "If yesterday's number (industrial production figures released Wednesday) is anything to go by, credit offtake in the coming days would be much better than we have anticipated earlier," said Subir Gokarn, chief economist at the Indian arm of S&P.
Distress in farming sector can cause dire economic consequences: RangrajanAugust 12th, 2009 NEW DELHI - The Chairman of the Prime Minister's Economic Advisory Committee, C. Rangrajan, said on Wednesday that distress in the farm sector could have serious consequences on the economy.
SEZ exports grew 50 percent in 2008-09July 27th, 2009 NEW DELHI - Despite India's overall exports growth dipping considerably, exports from its special economic zones (SEZs) grew 50 percent during 2008-09, the government said Monday. "The value of exports made from SEZs during 2008-09 was Rs.99,689 crore against Rs.66,638 crore in the previous year, an increase over 50 percent," said Minister of State for Commerce and Industry Jyotiraditya M.
India's auto industry logs 11.5 percent growthJuly 2nd, 2009 NEW DELHI - The automotive industry in India grew at a computed annual growth rate (CAGR) of 11.5 percent over the past five years, the Economic Survey 2008-09 tabled in parliament Thursday said. The industry has a strong multiplier effect on the economy due to its deep forward and backward linkages with several key segments of the economy, a finance ministry statement said.
India's industrial output falls 1.2 percent in FebruaryApril 9th, 2009 NEW DELHI - India's industrial output fell 1.2 percent in February against a growth of 9.5 percent in the like month of last fiscal, while the provisional drop reported for January has been revised now to a marginal growth of 0.39 percent. As per data on index for industrial production (IIP) released Thursday, manufacturing output, which accounts for the bulk of the weight in the overall index, declined 1.4 percent in February, against 9.6 percent growth in the like month of last year.
Slowdown pulls down India's growth to 5.3 percentFebruary 27th, 2009 NEW DELHI - The fears of a sharp slowdown in India were confirmed Friday, with official data showing economic growth at just 5.3 percent for the third quarter of the current fiscal - the slowest since 2003 - against 8.9 percent in the like period the previous year. The growth in gross domestic product (GDP) has dipped from 7.6 percent for the second quarter and 7.9 percent for the first quarter, showed statistics released by the Central Statistical Organisation (CSO).
India's GDP growth drops to 5.3 percent in third quarterFebruary 27th, 2009 NEW DELHI - The growth of India's gross domestic product (GDP) dropped to 5.3 percent in the third quarter ending Dec 31 last year, compared to a growth of 8.9 percent in the same period the previous year. The economy, usually equated to the GDP, had grown by 7.6 percent in the second quarter of this fiscal.
India's annual growth could go down to 6 percent: Amartya SenFebruary 24th, 2009 KOLKATA - India's annual growth could go down to six percent or lower due to the economic recession, Nobel laureate Amartya Sen said here Monday. 'Of course, it could go down.
It's official: India's economic growth sliding to six-year lowFebruary 8th, 2009 NEW DELHI - The Indian economy is expected to log its lowest growth in six years and fall to 7.1 percent for the current fiscal, against 9 percent in the previous year, as per official projections on national income released here Monday. The estimates, compiled by the Central Statistical Organisation, said growth figures for all the three main components of the national income, namely agriculture, manufacturing and services, were expected to fall during the current fiscal.
Kamal Nath says India's growth will top 7 percentFebruary 2nd, 2009 NEW DELHI - India will clock a growth of over 7 percent this fiscal, Commerce Minister Kamal Nath said here Tuesday. Referring to the general belief that the economic growth would slow down considerably, Kamal Nath said at an awards function organised by the Export Promotion Council: 'The gross domestic product (GDP) will grow by over 7 percent.'
Incidentally, India's central bank itself has revised downwards its growth forecast to 7 percent from 7.5-8 percent predicted earlier.
PM's council lowers India's growth forecast to 7.1 percentJanuary 22nd, 2009 NEW DELHI - The Prime Minister's Economic Advisory Council Friday lowered India's growth forecast for the current fiscal to 7.1 percent, against its earlier prediction of 7.7 percent, on account of the impact of the global meltdown. The council, headed by economist Suresh Tendulkar, also told a press conference here that it expected the country's gross domestic product (GDP) to expand by 7-7.5 percent during the next fiscal,
Prime Minister Manmohan Singh had himself lowered his growth forecast for fiscal 2008-09 to 6.5-7 percent, saying the period of hardship was not yet over for the Indian economy and that it would continue next year.
Loading ...