Core industries growth moderates in May as energy and manufacturing show mixed performance; data provisional.
The Index of Eight Core Industries (weight 37.90% of the IIP base 2004-05) showed moderated overall growth in May 2011 versus the prior year, driven by strong increases in electricity and crude oil, significant declines in natural gas and cement, and mixed but reduced growth in coal, petroleum refinery products, fertilizers and steel. The release provides sector weights and monthly and April-May comparisons, and notes the data are provisional and may be revised.

Wholesale Price Index shows mixed weekly movement with primary articles easing and fuel & power firming, affecting inflation trend.
The Wholesale Price Index shows a weekly decline in Primary Articles with Food Articles and Non Food Articles contributing to the fall while Minerals rose; the point to point annual inflation for Primary Articles eased slightly. Fuel & Power recorded a modest weekly increase driven by higher aviation turbine fuel, naphtha and furnace oil prices, producing a marginally higher year on year inflation rate. Annexures provide item level indices, week over week changes, builds since financial year end and six week inflation trends for detailed monitoring.

Financial cooperation to expand trade and investment links, strengthen financial systems, and mobilize infrastructure finance.
India and the United States agreed to deepen bilateral economic cooperation to expand trade and investment links and strengthen financial systems, focusing on coordinated macroeconomic policy, financial sector reforms to deepen capital markets and inclusion, and infrastructure finance strategies including Public Private Partnerships and regulatory capacity building.

Bilateral trade partnership sought to deepen cooperation in agro processing, infrastructure and renewable energy while easing people movement.
India sought expanded economic partnership with New Zealand in agro-processing, infrastructure and renewable energy, advocated a fair visa regime and enhanced people-to-people contact, and identified sectoral cooperation areas-post-harvest technologies, agricultural logistics, wind and geo-thermal energy, dairy, film technology, pharmaceuticals, education, IT-enabled and financial services-while noting progress on the India-New Zealand FTA, support for a rule-based multilateral trading system, and recent bilateral trade composition and growth to justify the outreach.

Bilateral investment agreement negotiations to be fast-tracked, enhancing cross-border investment opportunities and addressing discriminatory measures.
India announces major infrastructure investment to attract foreign participation in energy, roads, power, agro-processing, manufacturing, pharmaceuticals and R&D, promoting technological collaboration and institutional linkages. The statement emphasizes deepening two-way trade with the United States, calls for expedited negotiations of a Bilateral Investment Agreement, and requests mitigation of discriminatory measures that could unfairly burden Indian companies.

Reinvigorate Trade Policy Forum to fast-track a Bilateral Investment Agreement and deepen sectoral cooperation.
Agreement to reinvigorate the Trade Policy Forum and to fast-track technical negotiations for an early conclusion of the Bilateral Investment Agreement, with two additional negotiation rounds before the next ministerial-level TPF meeting. India emphasised policy measures to sustain growth and invited cooperation across identified sectors-infrastructure, agriculture and agro-processing, food processing, cold chain logistics, electronics and chip design-while noting unilateral tariff reductions and efforts to improve services cooperation and the investment environment.

Wholesale Price Index shows primary articles inflation rising driven by food items while fuel and power inflation held steady.
Wholesale Price Index data for the week ended 11 June 2011 shows a week on week rise in Primary Articles driven by higher Food Articles prices (including fish, milk, tea, poultry and cereals movements) while Non Food Articles declined; the Fuel & Power index and its point to point annual inflation rate remained unchanged. Annexures provide itemised indices, build up from financial year start, year on year comparisons and six week trend series for key commodities.

Foreign Direct Investment inflows rose sharply, indicating cross-border investment recovery and renewed investor interest in source jurisdictions.
Foreign Direct Investment inflows into India rose about 43% in April 2011 to USD 3.12 billion from USD 2.17 billion in April 2010, reversing three months of decline; the release attributes the recovery partly to improving global markets and identifies Singapore and Mauritius as the largest single-country contributors, followed by Japan, France and Cyprus, with other notable investors including the US, UK, Netherlands, Germany and the UAE.

Wholesale price inflation for primary articles and fuel & power shows divergent weekly trends, minerals up while fuel eases.
Wholesale price movements for week ending 4 June 2011 show Primary Articles rose to 196.6 with a point to point annual inflation rate of 12.86 percent driven by food and a sharp minerals increase due to crude petroleum; Fuel & Power declined to 159.9 on lower diesel, aviation turbine fuel, naphtha and furnace oil. Annexure I presents week over week changes, build up and year on year comparisons for selected commodities and Annexure II shows six week inflation trends for key items.

Wholesale price inflation rises as food, fuel and manufactured product increases sustain broad cost pressures.
Wholesale Price Index for May 2011 rose to 151.7 with an annual inflation rate of 9.06 percent. Primary Articles, Fuel & Power and Manufactured Products were the principal drivers: Food Articles increased on higher cereal, fruit and milk prices while Non Food Articles fell; Fuel & Power rose led by lubricants and petroleum products; Manufactured Products gained with notable rises in food products, textiles and basic metals, though some manufactured items declined.

Mail network optimization improves postal operations and standardizes processes with phased hub-based restructuring and performance metrics.
Department of Posts has launched the Mail Network Optimization Project to consolidate and optimize the mail network by standardizing processes, implementing appropriate technology, optimizing delivery, and instituting performance management through Key Performance Indicators. The reform is phased, beginning with Speed Post and international mail, and introduces a hub-based sorting and transmission structure selected by mail volume, distance and transmission options, with plans to extend to all mail categories and to expand post office access in response to public demand.

Wholesale price inflation signals rising primary articles while fuel and power remain steady, impacting food and non food indices.
Week ending 28 May 2011 WPI data show Primary Articles rising modestly week on week with elevated point to point annual inflation driven by Food Articles (notably tea, pork, maize, jowar, fish, milk and selected cereals) and contributions from Non Food Articles despite declines in some raw inputs. Fuel & Power held at the prior week's level while remaining subject to high year on year inflation. Annexed tables give disaggregated indices, week over week changes, build up since end March and six week trends for key items; figures are provisional and next release date is provided.

Manufacturing policy to raise sectoral GDP share and drive job-focused growth through targeted investments and industry R&D
A draft national manufacturing policy will be reviewed by a High-Level Committee to identify instruments to raise manufacturing's share of GDP and sustain high growth. Operational measures include establishing the Nano-Manufacturing Technology Centre, an Advanced Nano Technology Laboratory, and the Academy of Excellence for Advanced Manufacturing Technology at CMTI to support industry-focused R&D and produce job-ready engineers. Complementary public-private initiatives and strategic infrastructure zones aim to address bottlenecks, promote green manufacturing, and attract investment to accelerate manufacturing-led growth.

Wholesale price inflation shows primary articles easing while fuel and power inflation rises, shifting weekly WPI dynamics.
Wholesale Price Index for the week ended 21 May 2011: Primary Articles fell 0.4% to 191.7 with point to point annual inflation at 10.87%, Food Articles down 0.2% to 186.3 and Non Food Articles down 1.0% to 183.3. Fuel & Power rose 0.4% to 160.7 with point to point annual inflation at 12.54%, driven by higher petrol and bitumen despite declines in aviation turbine fuel, naphtha and light diesel oil. Annexures provide detailed weekly, build up and year on year indices and six week trends for selected items.

Trade balance narrows as export growth outpaces imports in April, indicating improved external position for the month.
Exports rose substantially year-on-year in April 2011 in both dollar and rupee terms, while imports increased at a lower rate, resulting in a narrower merchandise trade deficit; crude oil imports grew modestly and non-oil imports grew at a higher rate, with all figures presented on a provisional dollar and rupee basis comparing April 2011 to April 2010.

Index of Six core industries rose 5.2% in April 2011; mixed sectoral results with crude oil up 11%.
The Index of Six Core Industries (weight 26.68% in IIP) was 276.5 (provisional) in April 2011, up 5.2% year on year; cumulative April March growth was 5.8% (provisional). Sectoral April 2011 movements: Crude Oil +11.0% (weight 4.17%), Petroleum Refinery Products +6.6% (2.00%), Coal +2.9% (3.22%), Electricity +6.8% (10.17%), Cement -1.1% (1.99%), Finished Steel +4.3% (5.13%). All data provisional.