Newsmakers: GDP growth seen at 7.8%, January exports fall and more

Key business news events for the day

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Exports fall 13.6% in January, trade deficit at $7.63 bn Exports fell 13.6 per cent in January - 14th month in a row - to $21 billion due to a steep fall in shipment of petroleum products and engineering goods amid tepid global demand. Imports too shrank 11 per cent to $28.71 billion last month, leaving a trade deficit of $7.63 billion as against $7.87 billion in the same month last year. It is the lowest deficit in 11 months. In February last year, it was $6.85 billion.

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Inflation cools to -0.9% in Jan as food prices ease Reversing four months of rising trend, WPI inflation fell to (-)0.9 per cent in January as food articles, mainly vegetables and pulses, turned cheaper. The Wholesale Price Index-based inflation was (-)0.73 per cent in December. In January 2015, it was (-)0.95 per cent. This is the 15th straight month since November 2014 that deflationary pressure persisted and wholesale inflation has remained in the negative zone.

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India GDP likely to clock 7.8% growth in 2016: Nomura India's industrial recovery process is likely to be gradual owing to external headwinds and weak private sector investment, still the country is expected to clock a GDP growth of 7.8 per cent in the next fiscal, says a report by Nomura. According to the Japanese financial services firm, the industrial production data suggests that growth momentum, including investment demand, slowed at end-2015, while industrial recovery is expected to be gradual due to external headwinds and weak private sector investment.

• 4/5

Reliance Jio, 8 others ink knowledge sharing pact Reliance Jio Infocomm and eight other telecom operators from across the world have formed an alliance that will allow knowledge sharing and bringing innovative products and services for customers. Members of the alliance include BT, Deutsche Telekom, Reliance Jio Infocomm Limited, Millicom, MTS, Orange, Rogers, TeliaSonera and TIM. The alliance could reach a potential customer base of 1 billion in more than 80 countries through these nine operators, Reliance Jio said in a statement.

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Manufacturing is actually picking up: Nirmala Sitharaman Trying to instill confidence in the investor community, Union Minister of State for Commerce and Industry Nirmala Sitharaman said manufacturing in the country is picking up and the perception that there is slack in the sector is wrong. "Manufacturing is actually picking up. The last quarter figure showed that the country's GDP growth will be over 7 per cent. It also revealed that manufacturing is growing over 9 per cent. Actually, the perception is going around in the circle without looking at the figures," she said during the Make in India Week in Mumbai.