2014

2013

Emerging Markets Roundup: India

STRONG RESPONSE TO NEW BANKING LICENSES By Aaron Chaze As of early May nearly 100 Indian corporate entities have expressed interest in the Reserve Bank of India’s invitation for applications for new bank licenses. Photo Credits: RUPA / Shutterstock.com The ...

Emerging Markets Roundup: India

HIGH INTEREST RATES AND RISING FUEL COSTS HIT AUTO SECTOR By Aaron Chaze Indian car sales slipped 12.5% year-on-year, to 141,083 units, in December, according to the Society of Indian Automobile Manufacturers (SIAM). Heavy-vehicle sales (trucks and buses) dropped 13%, ...

Emerging Markets Roundup: India

FDI Reforms Get Parliamentary Approval By Aaron Chaze Both the lower and upper houses of India’s parliament voted during the first week of December to allow foreign direct investment in India’s domestic retail sector—a major win for prime minister Manmohan ...

2012

Emerging Markets Roundup: India

RBI TIGHTENS CREDIT-PROVISIONING NORMS FOR INDIAN BANKS By Aaron Chaze As growth slows in India, the central bank is pushing banks to prepare for higher credit costs. One of the measures adopted by the Reserve Bank of India is an ...

Emerging Markets Roundup: India

CONFIDENCE RISING By Aaron Chaze Economic policy reforms are having the desired effect: The confidence level of Indian businesses is on an upswing. A survey by research firm Dun & Bradstreet shows that Indian companies now expect greater momentum for ...

Emerging Markets Roundup: India

DOMESTIC CONCERNS PUSH INDIAN COMPANIES TO INVEST OVERSEAS By Aaron Chaze Overseas direct investment by Indian companies rose to $1.95 billion in August from $1.24 billion the previous month. Sugar futures dropping on late monsoon season According to the Reserve ...

Emerging Markets Roundup: India

COCA-COLA AND IKEA STEP UP INVESTMENT IN INDIA, DESPITE SLOWING GROWTH By Aaron Chaze Ikea, the Swedish retailer, has applied to the Indian government for permission to open 25 stores across the country, investing $1.9 billion in the country. Coca-Cola ...

Emerging Markets Roundup: India

GOVERNMENT TO SELL OFF STAKES, REDUCE DEFICIT By Aaron Chaze The administration announced renewed efforts to sell stakes in government-run companies in order to reduce the fiscal deficit. It plans to raise INR300 billion ($5.4 billion) by selling stakes in ...

Emerging Markets Roundup: India

S&P, CITING POLICY PARALYSIS, CUTS INDIA’S RATINGS OUTLOOK By Aaron Chaze S&P cut India’s sovereign credit rating outlook to negative in April in response to growing paralysis in government policy. India’s rating remains at BBB-, the lowest investment-grade rating, and ...

Emerging Markets Roundup: India

FOREIGN INVESTORS MAY EXIT IF FAVORABLE TAX TREATMENT DISAPPEARS By Aaron Chaze Foreign investors routing investments to India through Mauritius could potentially be taxed on their short-term gains, under a tax law amendment that was proposed in the recently announced ...

Emerging Markets Roundup: India

PRIVATIZATION PROGRAM FAILS TO MEET TARGETS By Aaron Chaze The Indian government pushed to meet targeted privatizations for the 2011–2012 fiscal year. Powering up India’s thermal power plants The Indian government gave a final—and less-than-successful—push to meet its targeted sales ...

Emerging Markets Roundup: India

CHINESE BANKS TO REFINANCE INDIAN CORPORATE LOANS By Aaron Chaze Three major Chinese banks were central to one of India's largest-ever corporate refinancings of foreign currency debt. Reliance Communications, India's second-largest cellular operator, controlled by billionaire Anil Ambani, successfully raised ...