India to be engine of world growth for 3 decades: PM Modi
August, 24, 2018
New Delhi: Prime Minister Narendra Modi today said India will be the engine of growth for the world economy for the next three decades as the "sleeping elephant" has started to run on the back of structural reforms like GST.
India's online retail market is a US$ 50 bn opportunity waiting to be realised
August, 12, 2018
New Delhi: As India’s Internet penetration booms (390 million Internet users) thanks to rock bottom data prices ($0.17 per GB in 2017), the country’s online retail market is witnessing a massive surge.
MUMBAI: After sitting till midnight recently to hear matters, Justice Shahrukh Kathawalla of the Bombay high court topped his own record on the HC’s last working day before summer vacation by rising only at 3.30am.
Harvard: India will be world’s fastest growing economy in coming decade
May, 04, 2018
India tops the list of the fastest growing economies in the world for the coming decade and is projected to grow at 7.9 per cent annually, ahead of China and the US, according to a Harvard University report.
Government readies social security scheme for 50 crore workers
May, 03, 2018
NEW DELHI: The labour ministry has proposed a comprehensive social security system to provide retirement, health, oldage, disability, unemployment and maternity benefits to 50 crore workers in the country, a month after the government announced the National Health Protection Scheme announced in the Budget.
Avg distance covered by trucks up by 100-150 km/day post GST'
January, 15, 2018
New Delhi: The average distance covered by a truck in the country has increased by up to 100-150 kilometres a day as compared to what vehicles were covering in the pre- GST era, according to logistics sector's representatives.
The Lok Sabha today passed the hugely contentious bill that criminalises instant triple talaq and makes it punishable by up to three years imprisonment for the husband, a development hailed by the government as “historic” but disapproved of by a section of the opposition.
If I had a world full of Indias, I’d sleep well: John Flannery, CEO, GE
December, 18, 2017
GE will continue to bet big on India, CEO John Flannery told Vinod Mahanta. The Narendra Modi government has brought about a notable difference in ease of doing business and GE's diesel locomotive factory project in the country is on track, he said.
Capital goods, infra order book doubles in December quarter
December, 12, 2017
The order inflow trend for capital goods and infrastructure companies in the country has shown significant improvement, with the order value having more than doubled on a year-on-year basis in the December quarter so far.
Indian aviation market will surpass US and China in 15-20
December, 10, 2017
India's aviation market would surpass the US and China by crossing a billion passenger trips per year in the next 10 to 15 years, Union Minister of State for Civil Aviation Jayant Sinha said here today.
India poised to become world's third largest economy
December, 08, 2017
India is poised to become the third largest economy in the world in the next few years, Union Minister Suresh Prabhu said today, asserting that the government wants to take manufacturing to 20 per cent of the GDP, helped by SMEs.
Card transactions soar 84% in Sep 2017 to Rs 74,090 cr: Report
November, 20, 2017
The debit and credit card transactions have jumped to Rs 74,090 crore in September this year, up a hefty 84 per cent as compared to the same month last year when it stood at Rs 40,130 crore, thanks to the government push for non-cash payments, says a study.
India’s First Moody’s Upgrade in 14 Years Bets on Reforms
October, 25, 2017
Moody’s Investors Service raised India’s sovereign rating for the first time since 2004, overlooking a haze of short-term economic uncertainties to bet on the nation’s prospects from a raft of policy changes by Prime Minister Narendra Modi.
The $200 billion e-commerce market Morgan Stanley is forecasting for India by 2027 just got a new contender -- with a very different plan. Energy tycoon Mukesh Ambani has already disrupted the country's telecom industry. His next big foray may be online retail.
Big GST relief: Tax cut on 178 items, only 50 still in 28% slab
October, 10, 2017
Providing a big relief to India Inc and consumers alike, the GST Council decided on Friday to lower the tax rate on 178 items, leaving just 50 items in the top 28 per cent rate slab under the Goods and Services Tax.
Jump in rankings is highest any country has ever made, says FM Arun Jaitley
October, 01, 2017
India has jumped to 100th place in the World Bank's Ease of Doing Business rankings, jumping 30 notches from last year, in an endorsement of the string of reforms implemented by the Narendra Modi government.
The biggest ever fire sale of Indian corporate assets has begun, to tide over bad loans crisis
September, 15, 2017
We are seeing what is effectively India Inc.’s biggest ever fire sale. It’s even bigger than the government’s planned divestment target. The Reserve Bank of India’s (RBI) has decided to clean up the balance sheets of Indian banks, which are collectively saddled with Rs five lakh crore of bad loans, by the end of this fiscal.
New Kings Cross Theatre production shines light on human trafficking in India
September, 10, 2017
Home to about 2500 people, the village of Jatinga in Assam State, India, has a curious claim to fame. Each year, thousands of birds go there to die. The phenomenon, in which several species of birds fly headlong into buildings and trees, has made Jatinga notorious in ornithological circles as a site of mass avian suicide.Great story. But the "suicides" are a myth.
A day after gross domestic product (GDP) data showed a three-year plunge in economic growth at 5.7 per cent in the first quarter of the current financial year, Purchasing Managers’ Index (PMI) data for manufacturing released on Friday gave a ray of hope.
GST rate, returns relief for SMEs; exporters’ refunds fast-tracked
September, 01, 2017
Bringing significant relief to small and medium businesses and exporters, the Goods and Services Tax (GST) Council on Friday finalised a slew of relaxation measures. It also lowered GST rates for 27 items.
Asia as we know it will rapidly change shape over the coming decade, with demographics set to drive huge changes in growth momentum in our region. Asia’s third wave of growth is set to begin, stirring hidden dragons, while ageing Tigers must face the challenges and opportunities of an older population.
Australia Must Get Serious About Investing in Asia
August, 01, 2017
Sure. It's impressive. No wonder Australians like to boast about their 25 years of uninterrupted economic growth.But the achievement masks a deep complacency and risk aversion that could ultimately undo those gains.
India Seen Topping Global Labor Force In Next Decade, Data Show
July, 25, 2017
India’s millennial generation is bigger than China’s or the U.S., which will boost the nation’s labor force to the world’s largest by 2027, according to a Bloomberg News analysis of United Nations population-projection data.
India’s political leadership is focussed on leapfrogging into future, not hampered by legacy systems: Oracle’s Safra Catz
July, 01, 2017
The US firm stresses it has the technologies and solutions that support all three pillars of Digital India—building better digital infrastructure, creating digital citizen services and making citizens digitally literate.
‘How India Will Shape The New Global Order’ By Jayant Sinha
June, 30, 2017
Humanistic principles, the pursuit of truth, and social equality appear to be under siege around the world - as we just saw in the US and French elections, the Brexit Vote, the rise of extremist parties in Europe, and in the depredations of global terrorism.
India overtakes China on ease of doing business, shows global retail index
June, 6, 2017
India has surpassed China to secure the top position among 30 developing countries on ease of doing business, according to a study that cited India’s rapidly expanding economy, relaxation of foreign direct investment (FDI) rules and a consumption boom as the key drivers.
Govt reforms rebuilt investor confidence in Indian markets: HSBC's Bill Maldonado
May 12, 2017
HSBC Global Asset Management is upbeat about the reforms initiated by the government of Prime Minister Narendra Modi which it says has reinforced its confidence in the ability of Indian markets to deliver returns to investors.
The value of mobile money transactions have more than doubled since the nullification of 86 per cent of India’s cash in circulation in November, while those made with credit and debit cards has fallen, and cheque purchases have barely budged.
PM launches GNFC’s cashless/less cash township model across 12 States
April 26, 2017
Prime Minister Narendra Modi, on Friday, launched in Nagpur a cashless/less cash township model, developed by Gujarat Narmada Valley Fertilizers and Chemicals Ltd (GNFC), across 81 townships in 12 States.
Press Information Bureau Government of India Ministry of Urban Development
April 11th, 2017
The Minister of Housing & Urban Poverty Alleviation Shri M.Venkaiah Naidu today launched 352 housing projects in 53 cities in 17 States across the country with an investment of over Rs.38,000 cr to build over two lakh (2) houses.
The stock of HDFC Bank on Friday, which registered a new peak in intra-day deals, could not sustain the gains, as holdings by foreign investors in the lender topped the 74 per cent limit within hours of the RBI removing the buying restriction on them.
Uber's India rival said to be raising $US600 million
November 8, 2016
India's largest ride-hailing startup, Ola, is in talks to raise about $US600 million ($A786 million) and may close the deal by year end, as it seeks to counter an increasingly aggressive Uber Technologies Inc in the coveted India market, according to a person familiar with the matter.
2.5 Crore Toilets Constructed In India In 2 Years: PM Narendra Modi
October 4, 2016
NEW DELHI: Prime Minister Narendra Modi on Sunday said his government's cleanliness drive has been a great success in the past two years during which nearly 2.5 crore toilets were constructed in a bid to make India free of open defecation.
India expected to post first current account surplus in 9 years
Sep 15, 2016
In our view, this turnaround, which comes after 9 years of Current Account deficits, adds further evidence that the reforms undertaken by the Modi Government are delivering results and they remain fiscally prudent.
New Reserve Bank of India Governor
Aug 21, 2016
India's incoming central bank governor, Urjit Patel, is widely regarded as having the professional and academic credentials he needs to make a success of his new job.
Less well known is whether a man who seems to feel most at ease in his own company commands the communication skills to answer to multiple constituencies and keep a 17,000-strong team on side.
Money managers including Ashmore Group Plc and Prudential International Investments Advisers LLC have a new rationale for an old favorite trade: Prime Minister Narendra Modi’s biggest legislative victory since taking office in 2014.
Factory activity in July grew at its fastest pace in four months
August 1, 2016
Factory activity grew at its fastest pace in four months in July as export orders jumped, but prices remained muted, giving room to the central bank to ease policy further if needed, a private survey showed on Monday.
Political stability, credible monetary policy and the fastest growth among the world’s major economies make India the ‘safest portfolio investment destination’ among developing nations, according to Krishna Memani, New York-based chief investment officer.