The beverages company Pepsico has decided to double its investment in India to over $220 million (around 1000 crore) for the ongoing financial year to further boost its beverage business in the country. The move comes in the wake of Pepsico registering nine quarters of strong growth in India.

GM files for bankruptcy

The world’s largest car maker that ruled the roads for not less than 77 years has finally filed for bankruptcy protection in the US, in an endeavour to create a 21st century company capable of taking on the world markets.

GM accounted for $82.29 billion in assets and $172.81 billion in debt. The US government has apparently agreed to bankroll the transformation of the 100-year old automaker. The company is reportedly a victim of plummeting sales and increasing gas prices.

The US plans to seek its pound of flesh, by converting much of its $50 billion of loans to a 60 percent stake in the new entity. Today’s filing coincides with the cut-off date for GM to persuade the government auto task force that it would able to restructure out of court through debt and cost cutting.

Exports plummet for seven straight months

Exports plunged by more than 33 percent in April 2009 with economic meltdown in developed countries negatively impacting foreign demand for Indian products.

Imports nose-dived by 37 percent primarily because of drop in oil prices. With imports plummeting at a faster rate than exports, the discrepancy between the two has come down by 50 percent to $5billion in April 2009. This is also the second consecutive month the fall in imports has surpassed the fall in exports.

Experts say that the latest trade data demonstrates continuous weakening of the global economy.