Indian Economy in 2013 - Competition Digest

December:

Foreign Investment regulator has approved 680cr investment plan by TESCO.
FIPB (Foreign Investment Promotion Board) cleared decision on Vodafone group Rs.10000cr plan to take full ownership of its local units.
Usha Sangwan appointed 1^st woman MD of LIC.
Uruguay becomes the 1^st country to legalize growth, cultivation and sale of weed.
India approved the draft of a multilateral trade reforms package. Clearing the way for the 1^st global trade deal in 2 decades.
India’s Current Account Deficit (CAD) falls to $5.2 billion in July-Sept quarter.

November

Indian economy grows 4.8% in three months through September.
Apple tops the “world’s most valuable List” compiled by Forbes magazine. Its brand value estimated to be $104billion.
Annual consumer price inflation increases from 9.84 in September to 10.9% in October.
Piramal Enterprises Ltd. Acquired over-the-counter (OTC) brand Caladryl in India from Valeant Pharmaceuticals International.Inc.

October

Infosys agrees to pay $34 million as penalty to the US govt. for errors in 1-9paperwork and other visa related matters.
RBI hikes REPO rate by 0.25 Basis Points from 7.50% to 7.75%
Supreme Court directs Sahara group to hand over title deeds of Property worth Rs.20, 000Cr to SEBI within 3 weeks.
World Bank cuts growth forecast of India from 6.1% to 4.7%
Agricultural production growth slows down to 0.6%in August.
SEBI approves Jet-Etihad deal.

September

RBI bans “Zero percent” interest scheme for purchase of consumer goods through Credit Card. Also no extra charges can be levied on payment made through Debit card.
RBI hikes short term policy rates by 0.25%. May lead to increase to EMI for home loans in the medium term.
Import duty on gold raised by 15%
Inflation in the month of August increased food prize by 6.1%
Raghuram Rajan takes over as governor of RBI.

August

Indian Rupee ends at all-time low of 68.85 against US Dollar.
Facebook joined hand with 6 other tech companies Nokia, Samsung, Ericsson, opera, mediaTek and Qualcomm. Launches “Internet.org” to make internet access affordable for all.
Govt. approves setting up of Bharatiya Mahila Bank Ltd. Within a budget of Rs.1000Cr.
Amazon to purchase Washington Post newspaper for $250million.
Arundhati Bhattacharya appointed MD of SBI.
Union Cabinet approves disinvestment of 10% Govt. stake in Indian Oil Corp Ltd.

July

Investment board clears 2058Cr Jet-Etihad deal.
US city Detroit files for bankruptcy.
Indian Govt. permits 100% FDI in Telecom Sector.
Arcelor Mittal drops its Rs. 50000cr steel plant project in Odisha.
R.Chandrashekhar appointed president of Nasscom.
Himachal Pradesh declares to complice with section 4 of Cigarettes and Other Tobacco Prevention Act (COTPA). Becomes the 1^st Smoke free state of India.

June

Petrol Price hiked by Rs.1.82 /lt.
Indian Railways launched SMS based ticketing system.
TCS Vice Chairman S Ramadorai appointed as the new Chairman of AirAsia.
SK Roy appointed new chairman if LIC.
Amazon.com Inc launches online marketplace in India.
Infosys appoints Mr.Narayan Murthy as Executive Chairman of the board and Additional Director.

May

April

Universal Commodity Exchange (UCX) started its operations and became country’s sixth commodities exchange.
Gold prices reach record low in more than 18months at Rs. 25,270.
Executive Co-Chairman of Infosys S Gopalakrishnan elected as the President of Confederation of Indian Industry (CII).

March

February

Railway Minister, Pawan Bansal presents Rail Budget 2013-2014 on 26^th February.
RBI issues final guidelines for issuing license for opening new banks.
Union Cabinet approves the merger of Bharat Heavy plate and vessels Ltd (BHPV) and Bharat Heavy Electricals Ltd. (BHEL).
ICICI launches mobile banking called “Mobile Money” partnered with Aircel.

January

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