ARVIND Mills, the country’s largest denim manufacturer, is
looking to set up facilities in Sri Lanka and South Africa to
expand its manufacturing reach and and retail presence in
India and abroad, over three to four years
“We are exploring similar opportunities in other developing
countries including South Africa and Sri Lanka that have cost
advantage for manufacturing.We will soon send a team for
evaluating the prospects,” chairman Sanjay Lalbhai told ET.
The Sanjay Lalbhai-owned, 3,500-crore textile major, would
invest around 1,000 crore on the programme.
THE Reserve Bank of India (RBI) said food prices may stay high despite a
bountiful monsoon as rising incomes puncture the theory that ‘supply-side
factors’ kept prices high, a shift that sets the stage for a sixth interest rate
hike this year.
“A good kharif harvest will act as a major dampener on short-term food
MOST now expect a 25-basis point increase in the rate at which banks
borrow from the central bank and for deposits with it.
Raw sugar rose for a fifth day onTuesday in NewYork to a 29-year high
amid speculation that India may limit exports as it rebuilds inventories.
India, the world’s second-largest sugar producer, became the biggest
importer last year as adverse weather damaged crops.
TheWorld Bank onWednesday raised its
forecasts for economic growth in China this year
and next, saying that strong domestic
fundamentals will help offset an expected
slowdown in the global economy.
In a quarterly update on China’s economy, it said
that the world’s second-largest economy would
likely grow by 10% thisyear, up from an earlier
forecast of 9.5%. Next year’s estimate was lifted
to 8.7% from 8.5%.
LG, Godrej,Whirlpool Plan Price Hikes
To Ease Margin Pressure
PRICES of refrigerators, washing
machines, microwave ovens and air-
conditioners will rise 3-5%