Maiden Maritime India Summit draws enthusiastic investor response; 140 agreements signed

The Maritime India Summit 2016, which was held in Mumbai between 14th-16th April, has attracted investments worth Rs 82,905 crore (US$ 12.46 billion) across 141 memorandum of understanding (MOU) and business agreements, which were signed by various players in the maritime sector.

India overtakes China as top FDI destination: Report

India has overtaken China as world's top foreign direct investment (FDI) destination with US$ 63 billion of FDI announced in 2015 including high-value project announcements across the coal, oil and natural gas, and renewable energy sectors.

India retains top spot as world’s largest remittance recipient in 2015 by attracting about US$ 69 billion in remittances

According to World Bank annual report ‘Migration and Development Brief’, India has retained top spot as the world’s largest remittance recipient in 2015 attracting about US$ 69 billion in remittances.

India will have coal self-sufficiency in 3 years: Piyush Goyal

According to the Minister of State (Independent Charge) for Power, Coal & New and Renewable Energy, Mr Piyush Goyal, India will achieve coal self-sufficiency in three years which will lead to savings in foreign exchange of around Rs 40,000 crore (US$ 6 billion).

India remains a bright spot in weakening global recovery: IMF’s Lagarde

Ms Christine Lagarde, Managing Director of the International Monetary Fund (IMF), has stated that amidst a weak global economic recovery and risks of financial system instability, India still remains a bright spot led by rising real incomes and confidence boosting domestic demand.

India surpasses solar energy target for 2015-16 more than one and a half times

India has commissioned 3,018 MW of solar power during FY 2015-16 surpassing the target of 2,000 MW by more than one and a half times and has reached the cumulative solar capacity of 6,753.38 MW.

Government looks to resolve 100 transfer pricing issues; seeks to sign more advanced agreements

The Government of India plans to resolve around 100 transfer pricing cases in FY 2016-17 through advance pricing agreements (APAs), which will enable multinational companies to negotiate the tax rate with the tax authority of India and avoid disputes.

India headed for top slot in global LED light market

India is poised to emerge as the largest market for lighting systems based on light-emitting diodes (LED) owing to Government of India's UJALA scheme (Unnat Jyoti by Affordable LEDs for All), which is aimed at replacing all inefficient bulbs with energy-efficient LEDs bulbs.

Service sector growing at 10% annually: CII-KPMG

According to a joint report by Confederation of Indian Industry (CII) and KPMG, Indian service sector is growing at approximately 10 per cent per annum which is the second fastest in the world and has contributed to about 61 per cent of India's GDP in FY 2014-15.

India, Afghanistan and Iran finalise Chabahar Agreement

India, Afghanistan, and Iran have finalised the Chabahar Agreement, which will facilitate better regional connectivity between India and Afghanistan and central Asia, thereby allowing greater flow of people and goods among the three countries.

India to become $10 trillion economy by 2032: Amitabh Kant

Mr Amitabh Kant, Chief Executive Officer of NITI Aayog (National Institution for Transforming India), has predicted that Indian economy has the potential to reach US$ 10 trillion by 2032, if it manages to achieve a growth rate of 10 per cent year-on-year.

Chinese investors like Tencent, Cheetah Mobile and Baidu look for funding India’s internet companies

Investment from China in India's internet start-ups is expected to increase as number of China-based investors including Tencent Holdings Ltd, Baidu, Cheetah Mobile Inc, Fosun Group, and Shunwei Capital Partner, among others have held discussions with founders of mid-stage companies and several venture capital firms in India.