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According to Richard Gibbs of Macquarie Securities reduced crude prices goes in favour of the Indian economy and gives RBI a scope for monetary accommodation Richard Gibbs Global HD, Macquarie More about the Expert Richard Gibbs, Global Head of Macquarie Securities is upbeat on India because he thinks there is room for structural expansion and the demand is much better than anywhere else in the world. According to him reduced crude prices goes in favour of the Indian economy and gives RBI a scope for monetary accommodation. It is also likely to produce some tailwind for the global economy. "It certainly provides latitude on the trade side but also in terms of the inflation side for the economy as well." The house remains a buyer on India. What is the sense you are getting. Are we now facing a fairly big challenge to global growth and therefore are risk assets going to head lower? A: I think the International Monetary Fund (IMF) is articulating that fairly well as we move into the IMF World Bank annual meeting in the next few days. It really is a case where the US is I suppose the best if you see IMF's parlance and that's for investors who have been searching for growth is a disappointment. So, now I suspect we are going to have people turning back towards in search for yield and that has become difficult as well with the expansion in quantitative easing measures around the world but most particularly by the European Central Bank of course. At the end of the day lower crude prices are probably growth positive and the issue there is whether they pertaining further disinflationary pressure/deflationary pressure in the major economies. Certainly for an economy like India, cooling in crude prices is a positive. It certainly provides latitude on the trade side but also in terms of the inflation side for the economy as well. It's a bit of a two-edged sword as I suppose in that sense but overall lower crude prices are likely to produce some tailwind for the global eco

Currently, the global stainless steel industry is going through difficult times, as prices of raw materials are increasing on one hand, and at the same time demand has been on a declining trend. Profitability of both manufacturers and traders of pipes and plate products have reduced significantly compared to the past two years. I have been speaking to many traders of pipes, plates and fittings about their business conditions and the most common answer I get is "Current business is even worse than what we experienced in the recession of 2008". It is not just the case with European or US manufacturers of stainless steel products, the effects of declining demand is being even faced by Chinese and Asian manufacturers. Nickel and ferro chrome prices are the driving factor for determining prices of stainless steel products. While, Nickel prices on the London Metal Exchange have been very volatile, ferro chrome prices have been recently increased by 12.5% by miners across economies. On account of an increase in ferro chrome prices, some manufacturers have already announced an increase in prices, while others are planning to increase the prices. Stockholders and buyers of products such as stainless steel sheets, plates, pipes, bars, fittings and flanges have been become highly risk averse and cautious while placing purchase orders with mills, especially in case of Asian stock holders who import these products from Chinese or Indian mills. The global speculation activity in metals has had a major impact on the buying patterns of consumers in Asian economies. Going forward, we expect the market to remain lack luster, with buyers staying on the back seat and purchasing in smaller quantities, to avoid major losses due to fluctuations in prices of Nickel and other raw materials. Although prices in the Indian market have remained stable, but selling big quantities of stainless steel plates, pipes and fittings has become difficult because of the risk averse attitude of traders

Concerns of a slowdown in the Chinese economy led to a selloff in major base metals including copper, aluminium and nickel. Even precious metals such as gold and silver were not spared. The key question is who to trust at times when gold is also on a freefall. This week global financial markets started with another round of selling, as investors turned risk averse following disappointing Chinese economic data. The Chinese Economy grew 7.7% during the first quarter of 2013, compared to the same period last year, missing economists' expectations of 8% growth. Growth also slowed compared to the last quarter of 2012, when it stood at 7.9%, raising expectations of a slowdown in the Chinese economy, which is a bearish signal for the global financial markets, especially base metals. Growth in Chinese industrial production also disappointed, with a reading of year on year growth of 8.9% in March compared to a 9.9% growth recorded in the previous month. Markets were expecting a growth of 10.0 year on year. Traders had expected China to post better results, as consumer spending had improved and Chinese government had also infused liquidity in the domestic financial system to aid growth. We expect the Chinese government to avoid a monetary tightening policy to aid growth in the coming months. Nickel prices were trading at around USD 15,500 / metric ton down around USD350 compared to the closing on Friday. The fall in nickel prices and weak Chinese economic data has come as a surprise to many stainless steel users and stockholders in emerging economies, as they had made material bookings for stainless steel seamless pipes, Stainless Steel Pipe Fittings and stainless steel strips in the last week,. They had anticipated Nickel prices of USD16000 / metric ton as bottom pric

Prime Minister Manmohan Singh said Wednesday the Indian economy would grow at 8.25 percent in the current fiscal, but this will have little meaning unless there is equitable growth.

The Indian economy will grow at 8.5 percent during the next fiscal, even as the government will do everything possible to ensure a mid-term target of 10 percent annual expansion, Prime Minister Manmohan Singh said on Tuesday in New Delhi.

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Prime Minister Manmohan Singh on Thursday said that the economy can get back to 9 percent growth path soon, adding that the country's highly entrepreneurial private sector and rich human resources can play a crucial role to boost the recovery process.

Hoping that India's growth rate would climb back to between 8.25 and 8.75 percent in 2011, Finance Minister Pranab Mukherjee Saturday indicated that the government might withdraw some of the stimulus measures announced during the economic meltdown.

Finance Minister Pranab Mukherjee on Monday said that the Indian economy has returned on a high growth trajectory and the government has set an ambitious target of making 2012 the year of double digit growth even as it grapples with the twin problems of mounting deficit and rising inflation.

Finance Minister Pranab Mukherjee has called for imparting a fresh momentum to the impressive economic recovery witnessed in the past few months and take the country on the path of double-digit growth.

Finance Minister Pranab Mukherjee has said that the government was sticking to an estimated 7.2 percent growth rate for this fiscal (2009-10) and 8.5 percent for 2010-11.

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Finance Minister Pranab Mukherjee on Wednesday said India had recovered from the global financial meltdown and the economy was in far better shape than it was a year ago to clock high growth.

The Indian economy should have grown at 7.5 percent in 2009-10 and a tad faster than 7.2 percent expansion predicted officially on the back of a strong rebound in exports, Commerce Minister Anand Sharma said in the capital on Thursday.

Indian economy struggled for the last 5 years & impacted the overall project of India. Post NDA government at the center and subsequent slew of policy reform inflicted positive waves within the economy. The stringent control on black money movement and management forced many businesses to release the hoarded corps which impacted the CPI, WPI.

Finance Minister Pranab Mukherjee on Wednesday said that despite impressive developments in the Indian economy in the last few months, inflation has remained as the biggest cause for concern for the government.

Finance Minister Pranab Mukherjee on Wednesday said he was optimistic of achieving the targeted growth of 8.5 percent if a good monsoon this year supplements the improving Indian economy. He also said that he was working to evolve consensus on the proposed Goods and Service Tax (GST).

The double digit growth clocked by the country's manufacturing sector in 2009-10 - a year marked by unprecedented financial turmoil and demand slump in all major economies across the globe was hailed by the Indian industry.

Small and medium enterprises (SMEs), with their capability to propel broad-based economic growth of a nation, form an important pillar of success for any economy, Bank of Baroda Managing Director Kishor Kharat said on Sunday in Port-of-Spain.

Trade4target : GDP growth at 5.3% in the second quarter Indian economy has grown at 5.3 percent in the second quarter of the fiscal year as against 5.7 percent in the first three quarters and 5.2 percent on a year-on-year basis, the Central Statistics Office data revealed on Friday. The GDP grew at 5.5 percent against 4.9 percent in the first half of the fiscal year-on-year.

The Indian economy will see an over three-fold expansion at $7.25 trillion by 2030 and clock an average growth rate of 8% over the next 15 years, Niti Aayog vice chairman Arvind Panagariya said on Sunday.

Six key sectors of the economy grew 4.5 percent in February, slower than the 9.4 percent in the previous month, official data showed Friday.