Business Line ND 3/3/2010

Nissan to build Rs 2.5-lakh car with Ashok Leyland Plans to tap global markets, particularly China Our Bureau Mumbai  Nissan is in talks with Ashok Leyland to develop a global small   car   costing   under $5,000 (Rs 2.5 lakh). Mr Colin Dodge, Executive Vice-President of Nissan, told reporters at the Geneva Motor Show that the Indian company's engineering skills could make this project a reality. The two are in an alliance for light commercial vehicles and the small car could be an extension from one of the platforms. Mr Dodge was also quoted saying that China would be one of the key markets for this car though current trends indicate that the country is shirting to larger cars quite unlike India, which is predominantly a compact car market. Business Line ND 3/3/2010 Domestic air travel set to turn costlier Airlines meeting today Shubhra Tandon Ashwini Phadnis Mumbai/New Delhi The steps to be taken to mitigate the additional financial liability of domestic airlines due to the fresh proposals made in the Budget will be discussed on Wednesday in Hyderabad. While the airlines are tight-lipped on any increase in fares, travel agents say that on the Delhi-Mumbai sector, a one way ticket is likely to cost about Rs 1,000 more. Confirming the meeting of the Federation of Indian Airlines (FIA) in Hyderabad on Wednesday, officials of various airlines refused to speculate on whether a decision to hike Domestic airfares is in the offing. Late on Sunday night, the domestic oil refining companies added to the woes of the airline industry by raising Aviation Turbine Fuel prices by between Rs 1.32 a litre in Delhi and Rs 1.42 a litre hi Chennai. Business Line ND 3/3/2010    P-2 Pre-Budget buying sends car sales zooming in February Maruti leads the pack with sales of 96,650 units Our Bureau Mumbai Sustained buoyancy in the market, an expanding portfolio, rising exports and pre-Budget sale in anticipation of an excise duty hike led Maruti Suzuki, to clock its best ever sales. The country's top car maker sold 96,650 units in February, which is 1,000 more units than what it sold in January, its previous highest. Domestic sales at 84,765 units, along with a 39 per cent rise in exports at 11,885, were all-time highs. "Better business sentiments and general growth of economy are the reasons for good sales," said Mr Shashank Srivastava, Chief General Manager, and Maruti Suzuki. Hyundai Motor India and Tata Motors too posted their highest-ever domestic sales in February by selling 31,001 and 26,985 units respectively. The Hindu, ND 03/03/2010 P-6 Exports rise 11.5 % in January Steep increase in oil imports during the month under review Special Correspondent NEW DELHI:  Amid clear and strong signals that the worst was over for the world economy, India's exports continued its upward rise for the third consecutive month in January, growing by 11.5 per cent, riding on the back of increased demand from the Western and new diversified markets. According to official figurei released here on Tuesday, exports increased to $14.34 billion in January from $12.86 billion a year ago. Imports clocked a positive growth for the second straight month after falling for 11 months in a row since December 2008. Inward shipments rose by 35.5 per cent to $24.70 billion from $18.22 billion. The trade deficit almost doubled to $10.36 billion for the said month from $5.3 billion in January 2009, according to the official data. Economic Times ND 03/03/2010   Exports have recovered since November 2009 but the growth has been tepid with January 2010 exports up 11.5% from a year ago Imports up 35.5% in Jan, signal economy on track NEW DELHI INDIA'S imports posted a strong growth for the second month running in January, signalling a pickup in domestic demand and investment activity. Inward shipment rose 35.5% to $24.70 billion compared to $ 18.22 billion a year ago. Though trade deficit almost doubled during the month due to a lower growth in exports, experts did not see this as a cause for concern as higher imports of inputs point to a strong revival of exports in the coming months. The trade data shows that import growth is in tandem with the performance of our manufacturing sector which is growing at 15%-16%," said Keo director general Ajay Sahai, adding that the increase in imports seemed to be mostly of raw materials and capital goods, especially for power projects. Non-oil imports registered a growth of 28.8% in January, while oil imports were up 56% from the year ago period. Global trade in goods bounced back in recent months, notching a near 5% growth in December 2009, indicating a pick-up in demand for India's exports. Though exports have recovered since November 2009, the growth has been somewhat tepid with January 2010exportsup 11.5% from a year ago.