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India to contribute 4.9% of world GDP by middle of next decade: HSBC
HSBC Bank forecasts that if India continues to grow at around 7-8 per cent, it will likely contribute 4.9 per cent share of world's gross domestic product (GDP) by 2027.
Good monsoon to boost rural economy, growth: Goldman
Goldman Sachs expects the above-normal monsoon this year to boost rural sector growth and boost India’s overall gross domestic product (GDP) by 70 basis points over two quarters, leading to expectations of India’s GDP growth to 7.9 per cent in FY 2016-17 and 8.1 per cent in FY 2017-18.
India to be an energy surplus nation by FY 2016-17: LGBR
The Government of India plans to make India an energy surplus nation by setting a target of generating over 1,178 billion units of energy, which can lead to surplus of 1.1 per cent in FY 2016-17, according to the Load Generation Balance Report (LGBR).
India’s current account deficit narrows to $300 million, lowest level in 7 years
India's current account deficit (CAD) narrowed to a seven year low of US$ 300 million during January-March 2016, as against US$ 700 million during the same period last year, according to data from the Reserve Bank of India (RBI).
Indian auto component industry grows by 8.8% in FY16 to Rs 2.55 lakh crore
The turnover of India's auto component industry has grown by 8.8 per cent year-on-year to Rs 255,000 crore (US$ 39 billion) in FY 2015-16, according to data from the Automotive Component Manufacturers Association of India (ACMA).
Comm Min for greater border trade with Myanmar
The Ministry of Commerce and Industry is seeking to tap into the growth story of Myanmar by scaling up trade between the two countries through shared land borders.
Commerce & Industry Ministry aims to establish India as a hub for world class Designing
The Ministry of Commerce and Industry plans to establish India as a hub for world class designing by setting up four National Institute of Design (NIDs) across the country, aimed at providing skills to empower India's human capital towards world class designing.
Cabinet approves Civil Aviation Policy
The Union Cabinet has approved the civil aviation policy, aimed at replacing the earlier 5/20 rule with new one which will allow all airlines to commence international operations provided they deploy 20 aircraft or 20 per cent of total capacity, whichever is higher, for domestic operations.
Govt plans to spend Rs 10,000 crore during FY18-22 on integrated bio energy mission
The Ministry of New and Renewable Energy (MNRE) plans to launch an integrated bio energy mission with an investment of Rs 10,000 crore (US$ 1.49 billion) from FY 2017-18 to FY 2021-22, aimed at enhancing the use of bio-fuels like ethanol and biogas and reducing consumption of fossil fuels.
Govt plans to ease process for importers
The Ministry of Finance is planning to ease the process for importers by uniting and expanding the scope of the Accredited Clients Programme (ACP) and the Authorised Economic Operator (AEO) scheme, which will extend direct port transfers, thereby allowing members to move their cargo as it arrives at a land or sea port to a warehouse without checks.
Centre to set up chemical hubs across country
Mr Ananth Kumar, Union Minister of Chemicals and Petrochemicals, has announced setting up of chemical hubs across the country, early environment clearances in existing clusters, adequate infrastructure, and establishment of a Central Institute of Chemical Engineering and Technology.
I Squared Capital to invest up to $1 billion in India
I Squared Capital, a US-based private equity (PE) firm, plans to invest US$ 1 billion in infrastructure sector in India, including roads, logistics and rooftop solar power projects.