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October 3: News glimpse of the day

  • October 3: News glimpse of the day

    October 3: News glimpse of the day

  • <p>A man shops in a store at a mall in Mumbai</p><p><b>India is considering opening fully its single-brand retail sector to foreign direct investments, the industry secretary said on Monday, a possible boon to the government&#39;s reform programme which has appeared on the backburner.</b></p><p>India currently allows 51% foreign direct investment (FDI) in single-brand retail and 100% in wholesale operations.</p>

    A man shops in a store at a mall in Mumbai

    India is considering opening fully its single-brand retail sector to foreign direct investments, the industry secretary said on Monday, a possible boon to the government's reform programme which has appeared on the backburner.

    India currently allows 51% foreign direct investment (FDI) in single-brand retail and 100% in wholesale operations.

  • <p>An employee works inside a small-scale locks manufacturing factory at Aligarh district in Uttar Pradesh</p><p><b>India&#39;s manufacturing growth nearly stalled in September, turning in its weakest showing since March 2009 on slowing output and order growth as a year-and-a-half of interest rate increases and weakening global conditions take a toll on Asia&#39;s third-largest economy.</b></p><p>The HSBC Markit India Manufacturing PMI fell more than two points to 50.4 from 52.6, close to the 50 mark dividing growth and contraction. The output index plunged by its biggest amount in one month since November 2008, to 51.1 from 56.0</p>

    An employee works inside a small-scale locks manufacturing factory at Aligarh district in Uttar Pradesh

    India's manufacturing growth nearly stalled in September, turning in its weakest showing since March 2009 on slowing output and order growth as a year-and-a-half of interest rate increases and weakening global conditions take a toll on Asia's third-largest economy.

    The HSBC Markit India Manufacturing PMI fell more than two points to 50.4 from 52.6, close to the 50 mark dividing growth and contraction. The output index plunged by its biggest amount in one month since November 2008, to 51.1 from 56.0

  • <p>School students shout slogans during a protest against a corruption case in Jammu</p><p><b>Weak under the weight of corruption scandals, the government wants to regain the initiative by reviving stalled economic reforms, but the opposition will not ease the pressure on Prime Minister Manmohan Singh.</b></p><p>Ratings (Unchanged since September unless stated):</p><p>S&P: BBB-</p><p>Moody&#39;s: Baa3</p><p>Fitch: BBB-</p><p>Rudderless government</p><p>Inflationary pressure and policy response</p><p>Parliament reforms</p><p><b>What to watch:</b></p><p>-- Review of monetary policy by the RBI, due on Oct 25.</p><p></p><p>-- Monthly headline inflation, due to be announced on Oct. 14, two days after the release of industrial production data.</p>

    School students shout slogans during a protest against a corruption case in Jammu

    Weak under the weight of corruption scandals, the government wants to regain the initiative by reviving stalled economic reforms, but the opposition will not ease the pressure on Prime Minister Manmohan Singh.

    Ratings (Unchanged since September unless stated):

    S&P: BBB-

    Moody's: Baa3

    Fitch: BBB-

    Rudderless government

    Inflationary pressure and policy response

    Parliament reforms

    What to watch:

    -- Review of monetary policy by the RBI, due on Oct 25.

    -- Monthly headline inflation, due to be announced on Oct. 14, two days after the release of industrial production data.

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