India has been one of the fastest growing free-market democracies in the world even in the wake of one of the worst economic crises in six decades. Its $1.2 trillion economy is expected to have grown 6-7 percent during the fiscal year ended March 31, 2009. This growth has come on the back of nearly 9 percent expansion over the past four years.
Much of this economic expansion has come about because of the massive industrial development that has come to play a crucial role in the country's overall development strategy. Industries, including the growing services sector, are the largest generator of employment opportunities in the country and a facilitator of trade and commerce with other countries
India's growth story shining By: Rupali Mukherjee India's growth story continues to attract global investors with inbound investment deals rising three-fold to $17.4 billion in the first six months of 2011. The value of outbound transactions dropped sharply to $5.8 billion from $17.8 billion in the year-ago period.
South African Airways woos Indian travellers By: Kathakali Chanda Every second international traveller to South Africa is an Indian, and most of them fly out of the western Indian city of Mumbai . Keen on cornering the largest slice of this passenger pie, South African Airways (SAA) has introduced its stateof-the-art Airbus A330-200 aircraft on the Mumbai-Johannesburg route.
Growing home textiles market in India The home textiles market in India is estimated to be 17 billion USD and is growing at over 9 per cent annually. The home textiles and furnishings market is expected to reach 26.6 billion USD by 2015.
India's June exports up 46.4 percent India's merchandise exports rose 46.4 percent in June at $29.2 billion compared to June 2010, Commerce Secretary Rahul Khullar said.
' Indian Banks will meet 19% credit growth target' Despite concerns about a slowdown in demand for credit in a high interest rate scenario, the chairman of the Indian Banks Association, M D Mallya, has said the industry will meet the target of a 19% jump in advances this fiscal.
Tata Motors' Africa unit to begin operations Tata Motors said it will begin operations of an assembly plant for commercial vehicles in South Africa within the next few days. "We have set up an assembly plant in South Africa and this is a commercial vehicle plant. Its just matter of days to announce the details and start operations of the plant," said a Tata Motors spokesperson.
Global commercial vehicle big guns set to scorch Indian roads The Indian commercial vehicle industry is revving up for some fast-paced action. Long dominated by Tata Motors and Ashok Leyland, the market is set to witness a cut-throat competition as global players make a beeline to get a slice of one of the world's fastest-growing economies that is also seeing a surge in road infrastructure development.
India adds 13.35 million new mobile users in May Telecom operators added 13.35 million mobile subscribers in May 2011, taking the total number of telephone users in the country to 874.68 million, sectoral regulator TRAI said.
India passes ‘Good Laboratory Practices' test Manufacturers will no longer have to worry about getting their products tested abroad. India has achieved full adherent status on Good Laboratory Practices (GLP) certified by Organisation of Economic Co-operation and Development (OECD).
‘India to see stable growth, inflation to ease’ India is expected to see better data on inflation as prices are likely to come down and growth is likely to “slow and stabilise” in the summer months, Swiss banking major UBS said in a research note.
Good times await Indian tea makers A drop in African tea production by 35 million kg this year has put Indian tea producers in an advantageous position. With a good production till date, Indian tea producers are flooded with export enquiries, which in turn are giving a fillip to tea prices.
'Indian consumption to grow 14% in 3 years' By: Ratna Bhushan Consumer durables, automobiles, food and personal care products have the maximum growth potential in the country as multinationals shift focus to Asia Pacific and Latin America to drive up their sales, says a study. And Indian consumers will maintain their spending spree despite challenges such as rising prices and higher interest rates, according to an Ambit Capital Research report.
‘Indian businesses expected to invest $40-50bn overseas’ Indian businesses are expected to invest between $40-50 billion overseas this year as global economy improves, after having committed $30-35 billion of such investments last year, Lanco Infratech Ltd Executive Director Ajay Kumar Dhir said.
Indian firm considering ‘debt push-down’ for Africa business By Praveena Sharma Weighed down by huge cost of debt that is further aggravated by currency fluctuation, Bharti Airtel is considering ‘debt push-down’ for its African business, which will entail shifting part of its debt from parent company to its subsidiary to pare down translation-related impact.
FDI inflow to India more than double at $4.66 bn in May Inflow of foreign direct investment (FDI) in India surged 111 percent to $4.66 billion in May, the second highest monthly equity inflow in 11 years, as the government reiterates its commitment to liberalise norms, official data showed.
'Indian online retail industry to reach USD 7 billion by 2015' The market size of online retail industry in India is likely to touch USD 7 billion by 2015 due to increasing internet penetration across the country, a survey said. Currently, the online retail market stands at USD 2 billion and is growing at an annual rate of 35%, industry chamber Assocham said.
'Indian banking sector to have another good year in 2011-12' Good economic growth, favourable demographics and under-penetration is benefiting the growth of Indian banking sector. The country is expected to have another good year during 2011-12, according to a report by research firm Standard & Poor’s.
Indian firm increases reach in Africa and Asia Fast moving consumer goods company Marico is looking to growth through organic and inorganic routes and is also planning to increase its reach in Africa and Asia, Chairman and Managing Director Harsh Mariwala said.
Indian, foreign firms eye growing Indian gay market By Rohit Vaid T-shirts and mugs with cheesy slogans, targeted marketing campaigns and even a specialised travel boutique... gays might still be taboo in much of India but not for companies innovating to tap the growing purchasing power of the queer community.
Indians lead among emerging markets in charity India has emerged as one of the leaders in charitable giving among emerging markets, compared to other nations such as China and Brazil. In 2010, Indians gave 50% more since 2006 as a percentage of GDP at approximately $5-6 billion, up from $2 billion in 2006, according to a report released by global consultancy firm Bain & Company.
'Indian cocktail culture will soon influence global market' India has a vibrant cocktail culture and soon there will be an explosion of its influence globally as the appetite for an evolved bar culture is growing here, according to an international expert.
Rise of Indian Social Media Entrepreneurs Booming social media prompts organisations to seek help from Indian entrepreneurs to transform virtually every part of their business operations, writes Peerzada Abrar.
India’s domestic travel demand up by around 14 per cent this year Domestic air traffic demand in India grew by around 14 per cent with the airlines enjoying an average load factor of almost 79 per cent in May compared to last year, even as the global traffic rose by 6.8 per cent.
Indian firm eyes chrome mines in S. Africa Tata Steel is scouting for chrome ore resources in South Africa to ensure raw material supply to its ferrochrome plant in that country.
Indian Bank to raise $1 b overseas Indian Bank expects its $1 billion (Rs 4,500 crore) medium term notes to hit the market by mid-July. The bank expects to list the bonds on the Singapore Stock Exchange.
Useful Links
India-Africa Summit
Missions
0313 IST, Tuesday, July 12, 2011
Business & Industry 
1 
