India eyes economic moment in the sun
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India's economic moment in the sun is dawning as the nation shifts to a new growth trajectory and flexes its takeover muscles abroad, say analysts, amid a flurry of upbeat financial news.
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Eurozone indicators to be released this week will provide the first glimmer of stabilisation in economic confidence in September following the retreat in oil prices from their mid-August peaks, economists said.
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Helped by robust manufacturing, Indiaâs industrial output rose a stronger-than-expected 13.6 percent in April from a year earlier, the government said. But the numbers heightened concerns that the Indian economy might be overheating, growing faster than the pace that can be sustained. It also fueled fears that the central bank might increase lending rates and take steps to restrain money supply growth to cool the economy. While the April growth was slower than the 14.5 percent rise in March, it was stronger than the 11 percent expansion forecast by economists polled by Dow Jones Newswires. The April data showed manufacturing expanded 15.1 percent in April, while electricity generation grew 8.7 percent from a year ago. Mining output rose 3.4 percent.
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Stock investors may want to fasten their seatbelts this week, when a flurry of earnings and economic data will once again be in focus.
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MUMBAI: After the market touched a record 6500 last week, investors are expected to tread cautiously till the beginning of the new year.
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There are some signs of cyclical  overheating in India&#39;s economy, but the recent rise in the  rupee has dampened inflation, a government economic adviser  said on Wednesday.
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Close on the heels of the&#160;appreciation of the Indian rupee against the dollar, Indian outsourcing companies are grappling with a new problem -- uncertainty among U.S. companies about a recession has made these companies delay finalizing their IT budgets.As a result many large deals between U.S. clients and Indian outsourcers will not be finalized in the first half of this year, said Sudin Apte, senior analyst and country head for India at Forrester Research.Business will however pick up for Indian outsourcers by the fourth quarter, particularly if the U.S. economy is in mild recession, Apte said.&quot;Our experience is that if the IT budgets of U.S. customers are marginally impacted in a recession, then there is an increase in business offshore, to cut costs,&quot; Apte said. If the cuts are too large, whole projects can however get canned, he warned.The U.S. is the largest market for Indian outsourcers.&quot;We believe that the recessionary nature of today&#39;s economic climate will promote the adoption of increased outsourcing,&quot; said Siddharth Pai, a partner at outsourcing consultancy firm, Technology Partners International Inc. (TPI) in Houston, Texas.TPI does not as yet see a cut in either discretionary or non-discretionary spending on IT by companies.Forrester said Monday that the IT services and outsourcing market will increase by 4 percent this year to $162 billion from a growth rate of 6 percent a year earlier.&#160;The research firm forecast slowing growth this year&#160;for purchases of IT products and services in the U.S.National Association of Software and Service Companies (Nasscom), a trade organization in Delhi, however remains optimistic about the growth of India&#39;s outsourcing industry. The industry is optimistic of achieving its target of $60 billion in software and services exports by March, 2010, the association said Monday.In the fiscal year to March 31, the industry expects export revenues of $40.3 billion, up by 29 percent from export revenue in the previous year.Problems for India&#39;s outsourcing industry could get however compounded as its customers abroad have seen a drop in overall satisfaction and a drop in value for money from offshore outsourcing to India, according to a Forrester survey. India is still preferred as an offshore destination because it is the only country where foreign companies can&#160;hire staff in the thousands, Apte said.
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Analysis: India differentiates itself from China by allowing its currency to appreciate against the dollar
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Why China's about to give India a run for its money.
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India expects its slowest growth in three years as agriculture lags faster growth in other sectors.
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Indian Prime Minister Manmohan Singh is working to woo Japanese investors, hoping that a warming political relationship will add sparkle to lackluster economic ties.
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Asian powerhouses China and India have to grapple with some critical problems in their financial systems amid a projected slowdown in global economic growth, experts warn.
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The Indian central bank warns that drought and the high global price of oil may force it to lower its GDP forecasts.
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Views you can use to get clues on tomorrow's news.
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Indian shares, Asia's second top performers last year, are poised for long-term gains as foreign investors buy into the market, seeing the country as an economic "growth story," according to analysts.
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A day after losing most of its internet service as part of a wider Mideast-Asia blackout, India expects to have most customers back online by sundown Friday.
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In the new, capitalist India, consumers are eager to flaunt their wealth.