India Positive - March 20, 2015

  • India Positive - March 20, 2015

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March 20, 2015

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IMF's Christine Lagarde says India could fuel global growth


With a projected growth rate of 7.5 per cent in 2015-16, India will become the world's fastest growing major economy, fuelling global growth at a time when advanced economies are under stress and other emerging economies are slowing down. By 2019, the Indian economy will more than double in size, compared with 2009, said Ms Christine Lagarde, Managing Director, International Monetary Fund (IMF).

India and Canada discuss possible joint-ventures of mutual interest


Mr Nadir Patel, the Canadian High Commissioner in India, met Dr Jitendra Singh, the Union Minister of State (Independent Charge) of the Ministry of Development of North Eastern Region (DoNER), MoS PMO, Personnel, Public Grievances, Pensions, Atomic Energy and Space, Government of India, and discussed some of the possible joint ventures (JV) of mutual interest between the two countries.

Jewellers in India jump online for US$ 22 billion e-commerce pie


The growing e-commerce market in India has attracted jewellers to take advantage of the new wave of shopping. The online jewellery market is estimated be worth US$ 2.5 billion in next 5-10 years, as per estimates from BlueStone.

India signs four agreements with Sri Lanka


India and Sri Lanka have signed four agreements to strengthen cooperation between the two nations, including a customs pact to balance trade, a credit line of more than US$ 300 million, a currency swap agreement and visa on arrival (VoA) for Sri Lankan nationals in India.

Net FII inflows set to hit a record high in FY15


Foreign institutional investors' (FIIs) net investments in Indian equities and debt are expected to touch a record this financial year. FIIs have invested a net of US$ 43.5 billion so far in 2014-15-expected to be their highest investment in any fiscal year.

Royal Society elects biologist Venkataraman Ramakrishnan as president


Indian-born Nobel laureate Mr Venkataraman Ramakrishnan has been named the President of the prestigious Royal Society. The Royal Society, a self-governing fellowship consisting of nearly 1,600 fellows and foreign members, was founded in 1660 to recognise, promote, and support excellence in science.

MoU signed between Inland Waterways Authority and Dedicated Freight Corridor Corporation


Inland Waterways Authority of India (IWAI) and the Dedicated Freight Corridor Corporation of India (DFCCIL) have signed a memorandum of understanding (MoU) to create logistic hubs with rail connectivity at Varanasi and other places on national waterways.

Indian economy to grow 7.7% this year: OECD


The Organisation for Economic Cooperation and Development (OECD) boosted its forecast for India to 7.7 per cent gross domestic product (GDP) growth in 2015.

Relaxed Rules for FDI in Construction and Real Estate Sector


The Government of India has amended the foreign direct investment (FDI) policy regarding construction development sector which includes easing of area restriction norms, reduction of minimum capitalisation and easy exit from project.

Textiles MoU between India and Kyrgyzstan


A memorandum of understanding (MoU) has been signed between India and Kyrgyzstan. The MoU seeks to strengthen bilateral cooperation in the fields of textiles and clothing, fashion, silk and sericulture.

Government eases norms for Television and Radio services


In another step towards improving ease of doing business, the Government of India has streamlined security clearance for television channels and radio services. The channels will no more need separate security clearance for subsidiary or other channels in a bouquet as was the case earlier and clearance granted once would be valid for up to 10 years.

FDI doubles to $4.48 billion in January, highest in 29 months


The foreign direct investment (FDI) to India doubled to US$ 4.48 billion in January 2015, the highest inflow in last 29 months, from US$ 2.18 billion in January 2014.

IKEA to invest Rs 1,800 cr in 3 stores in Maharashtra


The Government of Maharashtra has signed a memorandum of understanding (MoU) with the Swedish furniture retailing giant, IKEA, to set up two to three stores. Each store IKEA proposes to start will entail an investment of Rs 600 crore (US$ 95.39 million).

MoU Signed Between Hitachi India Ltd, Siemens Ltd and CII for Smart City Initiative


Hitachi India Ltd and Siemens Ltd have signed a memorandum of understanding (MoU) with Confederation of Indian Industry (CII) on March 17, 2015, to form a consortium that would create pilots and replicate them throughout the country for setting up 100 smart cities.

Italian bike brand Benelli launched in India


Italian superbike maker, Benelli, has launched five motorcycles in India starting at Rs 283,000 (US$ 4,524.63). The company has partnered with Pune-based real estate group DSK for the local assembly of the bikes, in addition to its marketing, sales and distribution.

Intas Pharma acquires hospital business of Spain's Combino Pharm


Intas Pharmaceuticals Ltd has acquired the hospital business of Spain's Corporacion Combino Pharm SL through its overseas subsidiary Accord Healthcare SLU for an undisclosed amount.

x IBEF : India Brand Equity Foundation