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Economy News

Discussion in 'World Economy' started by Indian_Idol, Jun 2, 2010.

  1. Paliwal Warrior

    Paliwal Warrior Lt. Colonel ELITE MEMBER

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  2. Som Thomas

    Som Thomas 2nd Lieutant FULL MEMBER

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    India to send 3 lakh youth to Japan for on-job training
    NEW DELHI: India will send three lakh youth to Japan for on-job training for 3-5 years as part of the government's skill development programme, Union minister Dharmendra Pradhan said here on Wednesday.

    Japan will bear the financial cost of the skill training of Indian technical interns.

    The skill development and entrepreneurship minister said the Union Cabinet has approved signing of Memorandum of Cooperation (MoC) between India and Japan on the 'Technical Intern Training Program (TITP)'.

    The MoC, he said, is expected to be signed during his three-day visit to Tokyo starting October 16.

    "TITP is an ambitious program to send three lakh Indian technical interns to Japan for on the job training for a period of three to five yrs," Pradhan said in a tweet.











    He said the youth will be sent for training in the next three years with Japanese financial assistance.

    "Each skilled youth going there will have a tenure of 3-5 years. These youth will work in the Japanese ecosystem and get employment opportunities there along with accommodation facility," the minister said.

    About 50,000 of them may also get jobs in Japan, he added.

    The selection of the youth will be done in a transparent manner according to Japanese requirements.

    "When these youth return from Japan they will contribute to our industry as well," the minister said.

    An official release said the MoC is expected to pave the way for bilateral cooperation between the two countries in the area of skill development.
    https://m.timesofindia.com/business...-for-on-job-training/articleshow/61041151.cms
     
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  3. Pundrick

    Pundrick Lieutenant FULL MEMBER

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    How is it even possible ? I don't believe this !!


    Japan providing financial assistance to train Indians for skill development !!!
     
  4. Zer0reZ

    Zer0reZ 2nd Lieutant FULL MEMBER

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    "They are an ageing society. They are looking at us for highly skilled software engineers. This will lead to more collaboration between Japan and India," says Priyank Kharge, Karnataka IT Minister said in an interview.

    "India is extremely attractive to Japan for IT talent and this has been recognised by both global in-house centres in India and large Japanese companies like Hitachi, Sony. However, there is a very large gap between what India has to offer and the popular perception of the value it brings in the boardrooms of Japanese companies. I think it is good that Japan has recognised Indian talent and wants to recruit highly-skilled Indian talent for the Japanese government," says R Chandrasekhar, President of IT services industry body Nasscom.

    Japan looks to India for IT talent, breaks cultural barrier
    40,000 engineers from India to be hired by Japan
    Japan to call over 1 lakh Indians to be part of 2020 Olympics workforce
     
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  5. Zer0reZ

    Zer0reZ 2nd Lieutant FULL MEMBER

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    Market at record high: 5 factors driving Sensex, Nifty upwards

    Experts believe a combination of factors such as earnings optimism, macro data, global cues, and technical factors worked in favour of the Street, helping it post huge gains.

    Moneycontrol News

    Strength in the Indian market continued on Friday, with the Sensex gaining over 200 points intraday, while the Nifty hit its all-time high of 10,179.
    Lot of positive momentum was seen ahead of the festive season and optimism was reflected in the buying counters across.
    Index heavyweights continued to rule the charts and held on to the gains, even as the broader markets underperformed.
    While the Nifty was trading in the flat region in the afternoon, the Sensex had posted gains of over 200 points.
    Experts believe a combination of factors such as earnings optimism, macro data, global cues, and technical factors worked in favour of the Street, helping it post huge gains. Moneycontrol elaborates on five factors why the Street rallied.

    Earnings

    As the September quarter earnings season kicks in, all eyes are on India Inc’s performance as the Street has pinned its hopes on earnings recovery. Experts have repeatedly pointed on the need for fundamental growth for a rally to sustain. Having said that, the December quarter performance and the long term show is likely to be better, experts feel.
    "The September quarter should see a mild earnings recovery led by growth in automobiles and financials. A revival in consumption will be leading earnings recovery. As mentioned earlier, we see a larger recovery in the December quarter as the economy revives from special economic events amidst an environment conducive to consumption,"Arbind Maheswari, Head of India Equities - Sales Trading, Bank of America Merrill Lynch told Moneycontrol.
    Meanwhile, the Indian stock market is expected to triple in the next 5 years, believes Ridham Desai, Head-India Equity Research & India Equity Strategist, Morgan Stanley.
    According to Desai, compounded Nifty earnings will be around 20 percent in the next 5 years. “...if you compound at 20 percent Sensex and Nifty earnings which means market will triple in the next 5 years,” Desai said at Morningstar Investment Conference 2017 held in Mumbai.

    Macro data

    Positive macro data is also boosting sentiment on the D-Street.
    India’s retail inflation remained flat at 3.28 percent in September, as food prices remained steady, while fuel and housing prices witnessing modest growth during the month.
    Retail inflation, measured by Consumer Price Index (CPI) witnessed 3.36 percent growth in August, while rising at 4.31 percent in September a year ago. It is the main price gauge that the Reserve Bank of India (RBI) tracks.
    Consumer food price inflation, a metric to gauge changes in monthly kitchen costs, continued to remain soft, with prices showing gradual rise at 1.76 percent from at 1.52 percent in August.
    Meanwhile, India’s industrial output grew 4.3 percent in August as compared with a tepid growth of 1.2 percent in July, as the companies began restocking and building fresh inventories after clearing up the stockpile in the previous month ahead of GST’s roll out from July 1.
    Factory output measured by the index of industrial production (IIP) is the closest approximation for measuring economic activity in the country’s business landscape.

    Global cues

    Positive global cues also seem to be working for the market.
    Better than expected earnings trends have boosted the markets in US and helped them soar to fresh record highs. Equities have risen sharply this year, with the S&P 500 advancing 14 percent during the earnings season.
    Additionally, supportive macro data of multi-year highs of US ISM and Chinese PMI along with accelerating capex growth is helping global markets trade high too.

    Technical Factors:

    The Nifty surpassed its crucial resistance level of 10,100-10,150 and is on its way to hit fresh record highs. Telecom stocks were leading the charge on the index followed by banking stocks.
    The Nifty surpassed its supply zone of 10,050-10,100 as the critical supply point. Investors are advised to stay long with a strict stop loss below 9959 levels.
    If the strength continues, Nifty should be able to hit fresh record highs ahead of Diwali. The Supertrend indicator too gave a buy signal on the charts which is a bullish sign for investors.
    “Fresh Put writing with Call unwinding is shifting its support to higher zones and giving the scope for fresh life time highs. The Nifty made a strong Bullish candle on Thursday and closed at the highest levels in last 14 trading sessions,” Chandan Taparia, Derivatives and Technical Analyst at Motilal Oswal Securities told Moneycontrol.
    “It has to continue to hold above 10050 to extend its move towards lifetime high of 10178 then 10300 while on the downside supports are seen at 10020 then 9950,” he said.

    Festive cheer

    As the auspicious festival of Diwali nears, investors could be betting on positive momentum to gain more.
    Samvat 2073 did not disappoint investors and the upcoming Samvat 2074 analysts advise investors to stay with quality stocks with growth potential.
    After falling 1.3 percent for the month of September all eyes are on October which could lend some stability to markets. Last 10 years data suggests that in the past 7 out of 10 years, Nifty closed in green with returns up to 17 percent.
    The index gave 17.5 percent return in the year 2007, followed by 2011 in which it rose by 7.7 percent, and in the year 2013, it gave 9.8 percent.
    While in 3 out of 10 years Nifty closed in the red. The index fell 26 percent in the year 2008, followed by 2009 in which it dropped by 7 percent and it slipped marginally in the year 2012 by 1.4 percent.
     
  6. Som Thomas

    Som Thomas 2nd Lieutant FULL MEMBER

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    NBCC (India) scales record high as firm may acquire 3 PSUs
    Oct 13, 2017, 04.08 PM IST
    NEW DELHI: Shares of NBCC (India) scaled fresh record high of Rs 248.85 in morning trade on Friday after reports that the state-run developer may acquire three other government-owned entities to create a mega construction company.

    The scrip was trading 1.30 per cent up at Rs 245.10 around 9.55 am (IST). It eventually ended at Rs 242.80, up 0.35 per cent on BSE. Shares of the company opened at Rs 244.30 and touched a high and low of Rs 248.85 and Rs 241.40, respectively.

    The three that the NBCC could acquire include Engineering Projects (India), Hindustan Prefab and Hospital Services Consultancy Corporation (India) Limited (HSCC).

    The government has already invited expressions of interest (EOI) from similarly placed central public sector enterprises (CPSEs) for strategic sales in HSCC and National Projects Construction Corporation Ltd. The government is looking to sell its entire stake in all these companies.

    The stock had hit 52-week low of Rs 133.13 on November 9, 2016.

    On the BSE, 2.21 lakh shares were traded on the counter so far as against the average daily volumes of 2.42 lakh shares in the past two weeks.
    http://m.economictimes.com/markets/...m-may-acquire-3-psus/articleshow/61063159.cms
     
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  7. Som Thomas

    Som Thomas 2nd Lieutant FULL MEMBER

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    Sony India eyes setting up first manufacturing unit in India soon
    LUCKNOW: Electronic major Sony India is eyeing to set up its first manufacturing units in South India. Currently, the company has a few assembly points in South India while most of the products are imported. But very soon, the company would announce establishment of manufacturing unit too.

    Kenichiro Hibi, MD Sony India who was in Lucknow for market visit ahead of the festive season said, "We are evaluating few places to set up our manufacturing base. We shall be finalising the place in a few months."

    The company has announced to achieve above 20% growth this financial year despite the challenges imposed by the new tax system. The company is also eyeing at 25% sales growth in the coming festive season. It expects higher growth this year compared to last year.

    "Uttar Pradesh is one of the most strategic local markets which holds immense significance for the company," Hibi said, adding, "The region clocked Rs 415 crore sales during last festive period of August-November 2016 and Sony is foreseeing 25% sales growth from festive period of August-November 2017 vis-a-vis last year. This region contributes about 15% of the total sales of Sony India."

    The company said that some of the most important local markets in Uttar Pradesh include Lucknow and Ghaziabad. Sony India is spread over a strong network of 600 plus dealers and distributors in UP and also has 8 exclusive centres and 15 service touch points.
    https://m.timesofindia.com/business...g-unit-in-india-soon/articleshow/61071099.cms
     
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  8. lca-fan

    lca-fan Major SENIOR MEMBER

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    Led by Chinese, nearly 600 companies line up $85 billion investments in India

    By
    Ruchika Chitravanshi
    ET Bureau| Oct 16, 2017, 07.38 AM IST




    NEW DELHI: Sany Heavy Industry heads up a list of close to 600 companies planning to invest a total of about $85 billion in India in projects that will create an estimated 700,000 jobs in the country in next five years.

    Invest India, the government's foreign investment promotion agency, is planning to actively promote the country as an investment destination and has drawn up a list of 200 companies not present in India that it wants to target.

    "We want to achieve a $100 billion target of foreign investment in the next two years — both greenfield and brownfield," said Invest India managing director Deepak Bagla. India recorded its highest FDI (foreign direct investment) in FY17 at $43 billion, up 9 per cent over the previous year.

    One of the world's leading engineering machinery manufacturers, China's Sany Heavy Industry plans an investment of $9.8 billion. Amazon, along with several other Chinese companies — Pacific Construction, China Fortune Land Development and Dalian Wanda — are each planning investments of more than $5 billion during this period.

    Of the total indicated investment, $7.43 billion has already materialised and 100,000 jobs have been created, according to Invest India.

    [​IMG]

    Rolls-Royce plans to invest $3.7 billion and Australia's Perdaman Industries $3 billion.

    Invest India is handholding the investors through the process, starting with identifying opportunities to scouting for locations and guiding them on policy.


    Most of the investment proposals are from China at 42 per cent , followed by the US at 24 per cent and the UK at 11 per cent .

    Energy and waste management have received the highest investment interest followed by construction and ecommerce.

    The Invest India team recently met Prime Minister Narendra Modi to update him on the status of the big foreign investments coming into India. "In essence we are the voice of investor in the system and solely dedicated to FDI," said Bagla.

    "The idea is, as PM Modi said, to transform red tape into a red carpet for investors." Commerce and industry minister Suresh Prabhu has said there is a need for a paradigm shift in the government's approach to increase investments and it will reach out proactively to prospective investors.

    The agency said it has received more than 100,000 investor queries from 114 countries in the past two years. Invest India says it can help companies meet the most stringent criteria.

    A top Fortune 500 company stipulated 136 parameters while scouting for land to set up its facility in India recently.

    "We researched for over 70 days, gathered data across the country and came up with options in four states meeting each of their criteria for them to choose from," Bagla said.

    https://economictimes.indiatimes.co...investments-in-india/articleshow/61093929.cms
     
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  9. lca-fan

    lca-fan Major SENIOR MEMBER

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