Promoting India Latin America Collaboration

Additional 15gw clean energy by 2012 projected for India

July 14th, 2008 Posted in Energy, India
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livemint.com
Why is India an investment destination for clean technologies?
India is attractive to investors for several reasons, significant being the way demand for power outstrips supply. Many homes in the country are still not electrified. As the country grows, this presents a great opportunity for clean energy to plug gaps and create useful linkages. Also, with India’s GDP growing at a rate of 8-9% per annum, infrastructure developments, including energy will have to emerge as a top priority. Finally, because renewable energy projects in India attract an additional revenue stream from CDM, investors can obtain a higher return than they would have otherwise.

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Why Are Latin Countries Booming? The Role of Good Policies

July 14th, 2008 Posted in Economics - Indicators, Policy and Trends, Latin America, Public Policy
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RGE
There have been many fundamentals improvements in Latin America: current account surpluses; better balance sheets; smaller short term foreign currency debt; greater FDI flows; lower fiscal deficits and larger primary surpluses; high forex reserves; a reduction in liability dollarization; low inflation; reform and clean-up of banks and financial system; phase-out of IMF programs.

In turn, there are some remaining internal risks that may require more reforms: most [LatAm] countries still have large fiscal deficits and high debt ratios; risk of perverse public debt dynamics if shocks to real interest rates; slow pace of structural reforms, policy uncertainty; ‘reform fatigue’ and rejection of the Washington consensus in some Latin American countries.

There are also some structural impediments to growth that limit the potential long-run growth rate of some countries or regions (Latin America); these include: low investment ratios; low competitiveness; underdeveloped financial system; slow pace of structural reforms (labor, competitition/regulation, social security, taxation systems); weak institutions. So, long-run re-rating and achievement of investment grade depends on policy changes that increase long-run growth.

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Why Brazilians Should Demand the Renationalization of Petrobras

July 14th, 2008 Posted in Brazil, Energy
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Bold proposals. In India, future inflation can be tempered by redirecting investment into strengthening the extensive rail network – and diverting freight to rail from roads. Moving freight primarily by truck is folly in this era of expensive oil.

BrazzilMag
One of the central benefits obtained through the nationalization of the oil companies will be the immediate redirection of all accumulated profits towards finding renewable sources of energy to replace oil, the construction of an affordable cross country mass transit system, a high-speed rail network, investment in nuclear energy, investing in high-speed broadband infrastructure, and also investing in some other key strategic infrastructures.

This would lay an infrastructure of transportation for the 21st century that would eventually replace our outmoded highly inefficient highway system that is geared more towards a resource-abundant past and not a resource-constrained future.

I would suggest that the Brazilian government invest at least $ 300 billion dollars in four major areas in Brazil as follows:

1) Nuclear power plants – US$ 180 billion

2) Strategic infrastructure – US$ 50 billion

3) High-speed broadband infrastructure – US$ 30 billion

4) High-speed rail networks – Bullet Trains – US$ 40 billion

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Near-term risks rising in India and China but the fundamentals remain excellent

July 14th, 2008 Posted in Economics - Indicators, Policy and Trends, India
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Business Intelligence Middle East (Standard Chartered Bank report)
Despite these huge differences, in recent months [India and China] have faced a common set of big problems, which they share with the Middle East: a global slowdown, rising inflation, big FX inflows, excess liquidity, and pressure on their currencies to appreciate. And the way New Delhi and Beijing have managed these pressures are remarkably similar in many ways. Look past the short term and we cannot but notice that the kinds of policies that New Delhi is now pursuing are, slowly but surely, making India a little more like China every day. Higher savings, more investment and a better fiscal position (well, kind of), are some of the examples. Both though are finding the balancing act between growth and inflation tricky to manage; risks in both economies have risen considerably in the last six months and look set to remain elevated. For both the golden years of fast, untroubled growth, are over, at least for the moment.

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JSW mulls Chilean iron ore import

July 14th, 2008 Posted in Chile, Commodities
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Business Standard
JSW Steel, India’s third largest steel maker, will explore the possibility of importing iron ore from its mine in Chile and sell it in the local market.

The Sajjan Jindal-controlled company had secured prospecting licences through its Netherland-based subsidiary to explore and exploit magnetite iron ore deposits in northern Chile’s Atacama region.

“We will explore the possibility of selling Chilean iron ore in India. The Chile plant will act as a natural hedge to iron ore selling in India,” said a top company executive.

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