In order to gain foothold in a growth market, overseas steel manufacturers may make strategic investments in smaller steel mills in India, agency reports suggest. Such investment by foreign steel firms may be beneficial for both the investor and the local company. The local partner gets both funding and technology while the
Tag: growth
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RBI hints at more policy easing if inflation, CAD falls
The Reserve Bank of India (RBI) Governor D Subbarao informed reporters that there would be more room for monetary policy actions if inflation eases further and the current account deficit moderates further. He said this after announcing the decision of the RBI to reduce repo rate by 25 basis points and cash reserve ratio (CRR) of scheduled commercial banks by 25 bps in the third quarter monetary policy
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RBI survey expects 5.5% economic growth in FY13
According to a survey sponsored by the Reserve Bank of India (RBI), the Indian economy may expand at 5.5 per cent in 2012-13, lower than the government's revised annual growth estimate of 5.7 per cent. It may be noted that the RBI had earlier projected a growth rate of 5.8 per cent for 2012-13. The Indian econ
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Investment by PE, VC funds decline in 2012
Private Equity and venture capital funds invested $7.6 billion across 415 deals in 2012, which is a fall of 21 percent from the year-ago period of $9.6 billion, global consultancy firm Ernst & Young said. The decline in the investment is mainly because of a significant fall in infrastructure sector investments $2.3 billion invested in 2011, compared with $774 million in 2012
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CMIE expects 4% growth in cargo traffic in 2013-14
Centre for Monitoring Indian Economy (CMIE) expects 4 percent growth in cargo traffic across all major ports in the country during 2013-14 compared to an anticipated contraction of 2.4 per cent in 2012-13. According to its projection, cargo traffic handled by major ports may rise to 568.5 million tonne in 2013-14 from
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Banks witness faster growth in deposit recently
Deposits of commercial banks expanded by a robust Rs 62,750 crore while credit growth was relatively moderate at Rs 17,380 crore during the first fortnight of the January-March quarter, data from the Reserve Bank of India (RBI) shows. This snaps the trend of credit growth outpacing deposit growth during the October-December 2012 perio
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Essar Ports handles 180 ships in Oct-Dec 2012
During the third quarter of FY13, the company's terminals handled a “record” 180 ships, as against 114 ships handled for the corresponding quarter of last year. Meanwhile, the port aims to raise its cargo handling capacity to 158 million tonne per annum from the present 104 mn t
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Sales of SAIL falls 2.71% in April-Dec 2012
Data from union steel ministry reveals that sales of Steel Authority of India (SAIL) contracted 2.71 per cent during April-December 2012 to 76.03 lakh tonne from 78.15 lakh tonne in the year ago period. Similarly, sales of Vizag-based Rashtriya Ispat Nigam (RINL) also fell over 17 per cent to 17.86 lakh tonne compared to 21.63 lakh tonne reported during this perio
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Steel sector witnesses subdued growth in consumption
Data from the union steel ministry shows that consumption of finished steel in the country rose a mere 3.9 per cent to 54.8 million tonne (mn t) in Apr-Dec 2012 from 52.7 mn t in the year-ago period. Industry watchers attribute the muted growth in steel consumption to the subdued demand from the end-use
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Bank of Baroda expects 20% credit growth
P Srinivas, Executive Director of Bank of Baroda is hopeful that the bank would be able to close the year with a credit growth of 19-20 per cent driven by a good show by the retail segments. While the firm expects moderation in growth in its corporate loan book, its retail loan segment would grow faster in 2012-13, he said. On capital infusion, he said government has not informed the bank about the quantum of infusion for the bank