|
A
MOTLEY COLLECTION OF BUSINESS AND ECONOMIC NEWS |
|
|
 Car parade: 50 launches in next 12 months
The launch of the new Tata Indica has flagged off a frenzied rush among car companies, revved up by the success of recent launches, that will see as many as 50 new cars hitting the market in the next one year. These will cut across segments and price points and join the over 200 cars that are already in the market. “According to our assessment, there will be 50 new cars in the next 12 months or so. In recent times, new models have done very well and people have come to believe that these are the most effective way to grab eyeballs,” said Dilip Chenoy, head of the Society of Indian Automobile Manufacturers. Among the recent launches, Maruti Udyog’s Swift, Ford’s Fiesta and General Motors’ Chevrolet Aveo have quickly raced to the top of the best-sellers list.
|
|
|
 Exports may beat target by a year
Commerce Secretary G.K. Pillai says India’s exports were expected to touch $150 billion by 2008, a year ahead of schedule. Exports for the current year are pegged at $125-130 billion. Most of the exports would be handled electronically by the end of next year as part of initiatives to facilitate trade.
Pillai said the pressing need for infrastructure development to achieve higher economic growth. He also allayed concerns over the SEZ policy. While stating that the nine-month experience of the SEZ policy had been positive in terms of attracting investment, he said the fears of threat to food security, loss of tax revenues, and credit risks on this count were largely unfounded.
|
|
|
 India’s now a major exporter of financial services
After software services, India is now also emerging as a major exporter of financial services. In FY06, the earnings in forex were $1.7bn from providing financial services to the rest of the world. From being a net importer of financial services, India, for the first time since 2000, has emerged as a net exporter of financial services.
Net inflows on account of financial services aggregated $1,087m in ‘05-06. Contrast this with the net outflow of $1,626m in 2000-01. Flows from financial services in the balance of payments manual (BoP) are non-interest receivables and payables in respect of financial entity. These essentially comprise brokerage, commissions and discounts earned by banks and other authorised dealers for various financial services rendered.
|
|
more...
|
|
|
|
|
January 2007
|
|
|
|
|
|
