Large ECBs for Overseas acquisitions in March 2013

ECBs inflows fell by around 11% during FY2013 at US$ 31.99 bn as compared with US$ 35.96 bn in FY2012

Indian firms have raised US$ 5.08 bn through external commercial borrowings (ECBs) in the month of March 2013 by automatic and approval route. The borrowings stood at US$5.08 bn in March 2013 as compared to US$ 3.83 bn in March 2012. ECBs fell by around (-) 11% as compared with the corresponding period last year, as borrowings declined to US$ 31.99 bn in FY2013 from US$ 35.96 bn in FY2012.

External commercial borrowings (ECBs) since January 2011                                                                                   (US$bn)

 Source: PHD Research Bureau, compiled from RBI

Note: ECB contains both automatic and approval routes

India has received gross ECB worth US$ 209.82 bn between FY2001 and FY2013. The ECBs inflow stands above US$ 25 bn during FY2008, FY2012 and FY2013. The average ECBs inflow stands at US$ 12.06 bn during FY2001-FY2010, while the average ECBs inflow stands at US$ 29.73 bn during FY2011-FY2013 period.

Gross ECB Inflows                                                                                                                                                (US$bn)

Source: PHD Research Bureau, compiled from RBI

Note: ECB contains both automatic and approval routes

A closer look at the ECBs pattern reveals that the lion’s share in ECB during the month of March 2013 is held by the overseas acquisition contributing to about 19% of the total, followed by modernisation at around 17% and rupee expenditure Loc.CG at around 15%.

  Pattern showing ECBs during March 2013                                                                                                     (% share in total)

  Source: PHD Research Bureau, compiled from RBI

 Note: ECB contains automatic& approval route both

Warm regards,

Dr. S P Sharma

Chief Economist

Nehru Memorial Museum and Library

cordially invites you to a Public Lecture

in the ‘Science, society and nature’ series

at 3:00 pm on Wednesday, 1 May, 2013

in the Seminar Room, First Floor, Library Building

on

'Elephant, empire and ecology in ancient India'

by

Prof. Raman Sukumar,

Indian Institute of Science, Bangalore.

Abstract:

The elephant rose from the status of a supreme animal, Gajatame, in early Buddhist India to that of a supreme god, Ganesha, in Hindu Indiaby about the 4^th or 5^th century. In spite of a rather turbulent relationship with people through history, the elephant has also been widelyrevered across the cultures of south and southeast Asia. This talk traces the unique elephant-human relationship from the ancient Harappancivilization when it is believed to have been first tamed, through the use of elephants in the armies of major kingdoms and empires, to itsrise to supreme godhead in the medieval Hindu period. It also discusses the role of the elephant in the rise, sustenance and eventual declineof the Mughal and the British empires. It concludes by providing sociopolitical and ecological interpretations as to why the largest landmammal was accorded sacred status in Asia, though not in Africa.

Speaker:

Prof. Raman Sukumar is Professor at the Centre for Ecological Sciences, Indian Institute of Science, Bangalore.