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New Delhi: The recovery in the industrial sector is clearly discernible as corroborated by both the data on national accounts and the index of industrial production (IIP). The downward trend observed in the rate of growth of the IIP that spanned almost eight quarters (beginning the first quarter of 2007-08 and continuing through to the last quarter of 2008-09) stands reversed as gleaned from the latest data for the current fiscal. After reaching a trough of 0.6% during the second half of 2008-09, growth in the IIP revived to a level of 7.7% during April-November 2009-10.

New Delhi: India's share in world merchandise exports after remaining unchanged at 1.1% between 2007 and 2008, reached 1.2% in 2009 (Jan-June) mainly due to the relatively greater fall in world export growth than India. The outlook for India's trade sector in 2010 has brightened with prospects of recovery in world output and trade volumes.

New Delhi: The Doha round of trade negotiations at the WTO saw intensive discussions during 2007 and 2008 where progress was achieved on several complex subjects. However, the negotiations were slow to resume following the December 2008 break at the WTO. Based on discussions during the Mini-Ministerial meeting held in July 2008, the chairs of the negotiating groups on agriculture and Non-Agricultural Market Access (NAMA) brought out fresh drafts of modalities for agriculture and NAMA. However, discussions on these texts began only in September 2009.

New Delhi: The rupee has strengthened against the US$ as the rupee US$ exchange rate appreciated to Rs. 46.64 per dollar on January 1, 2010, which was Rs. 50.95 per dollar in end-March 2009. The Indian rupee has appreciated by 9.2 per cent over its March 31, 2009 level, says Economic Survey 2009-10. This has been attributed to significant turnaround in FII inflows, continued inflows under FDI and NRI deposits, better macroeconomic performance of the Indian economy and weakening of the US$ in international markets.

New Delhi: Bank credit has recorded a growth of 13.9 per cent as on January 15, 2010 on year on year basis compared to 22 per cent during the corresponding period in the previous year, says Economic Survey 2009-10. The non-food bank credit recorded an increase of 8.7 per cent on financial year basis till January 15, 2010 as per the latest available data. The growth in aggregate deposit has remained higher than the growth in bank credit.

New Delhi: Indian Economy posted a remarkable recovery expected to grow at 7.2 per cent in 2009-10 against 6.7 per cent in 2008-09. Survey hopes the Indian GDP can be expected to grow around 8.5+/- 0.25 per cent, with a full recovery, breaching the 9 per cent mark in 2011-12.

The Executive Board of the International Monetary Fund (IMF) today approved a two-year Stand-By Arrangement for Iraq for an amount equivalent to SDR 2.38 billion (about US$3.64 billion) to cover the country's balance of payments needs. The Board's approval makes an amount equivalent to SDR 297.1 million (about US$455 million) immediately available to the Iraqi authorities.

WASHINGTON DC - The World Bank's Board of Executive Directors today approved a US$ 10 million scale up of the highly innovative Index Based Livestock Insurance Project (IBLIP) in Mongolia.

WASHINGTON DC - The World Bank's Board of Directors approved a US$500 million development policy loan (DPL) today to promote an efficient, equitable and inclusive Social Protection System in Colombia, as well as to mitigate the impact of the global economic crisis on that South American country.

Washington DC - The Board of Directors of the World Bank approved today a US$229 million loan for the Republic of Argentina to support an emergency project for the prevention and management of influenza type illness and strengthening of the epidemiological system.