India Positive - July 15, 2016
- November 30, -0001
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Ms Nirmala Sitharaman, Minister of State (Independent charge), Ministry of Commerce and Industry, has stated that India will soon start preliminary talks with Britain regarding the possibility of a free trade agreement (FTA), which is expected to guide bilateral trade between the countries, after Britain officially leaves the European Union.
India and Kenya have signed seven agreements, such as in the fields of double taxation avoidance and defence cooperation, to strengthen the bilateral relations, which will also be boosted by the Indian government extending the concession line of credit of US$ 44.95 million to small and medium enterprises (SMEs) and textile industry of Kenya.
The Government of India aims to improve its ease of doing business ranking from 130 at present to within the top 100 by 2016 and the top 50 by 2017, based on reforms undertaken in areas like construction permits, enforcing contracts and starting business, especially by top cities such as Mumbai and Delhi.
The National Institution for Transforming India (NITI Aayog), after its recent push for Rs 6,000 crore (US$ 894 million) textile sector package, aims to persuade the Government for similar support in the manufacturing sectors with large-scale employment generation opportunities, such as electrical and electronics engineering, footwear and light manufacturing segments, which also have export potential.
The Government of India plans to integrate villages with country’s economic mainstream by purchasing around 80,000 mini-buses, which will connect over 125,000 villages to markets and thereby provide access to better job and education prospects.
The Union Cabinet has approved the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) with an outlay of Rs 12,000 crore (US$ 1.8 billion), which will impart fresh training to 6 million youths and certify skills of 4 million persons acquired non-formally under the Recognition of Prior Learning (RPL).
Mr Venkaiah Naidu, Union Minister for Urban Development, has announced reduction in rates for use of land towards civic facilities provided by the Central Government as well as Government of National Capital Territory of Delhi, in addition to provision of Rs 658 crore (US$ 98 million) for five projects that will help decongest traffic at critical locations in the city.
Crisil, the local unit of global ratings firm Standard and Poor’s, estimates Indian economy to grow at 7.9 per cent in FY 2016-17, provided the monsoon for the year is normal and global macroeconomic conditions remain stable, while also noting that the quality of growth of the Indian economy has gradually improved.
The Government of India has signed a US$ 100 million loan agreement with the Asian Development Bank (ADB), which will be used to strengthen key irrigation and drainage system and improve water management in the Vennar sub-basin of Cauvery Delta in Tamil Nadu.
Indian companies are more transparent than their counterparts in BRICS nation due to strict government requirements for financial disclosures, including subsidiaries operating in different countries, according to a report by Berlin-based Transparency International, which analyses efforts of emerging market companies to fight corruption.
India's online financial services market is expected to reach Rs 15,000 crore (US$ 2.24 billion) by 2020, based on increased usage of mobile wallets and insurance services, according to a report from MAPE Advisory Group and MXV Consulting.
India's pay television (TV) sector is expected to grow by 9.2 per cent year-on-year to Rs 97,150 crore (US$ 14.5 billion) by 2021 and Rs 120,000 crore (US$ 18 billion) by 2025, according to data from Media Partners Asia (MPA).
India and Britain look to create bilateral trade pact
Ms Nirmala Sitharaman, Minister of State (Independent charge), Ministry of Commerce and Industry, has stated that India will soon start preliminary talks with Britain regarding the possibility of a free trade agreement (FTA), which is expected to guide bilateral trade between the countries, after Britain officially leaves the European Union.
India and Kenya enter into tax, defence agreements
India and Kenya have signed seven agreements, such as in the fields of double taxation avoidance and defence cooperation, to strengthen the bilateral relations, which will also be boosted by the Indian government extending the concession line of credit of US$ 44.95 million to small and medium enterprises (SMEs) and textile industry of Kenya.
India eyes place in top 100 on ease of doing business list
The Government of India aims to improve its ease of doing business ranking from 130 at present to within the top 100 by 2016 and the top 50 by 2017, based on reforms undertaken in areas like construction permits, enforcing contracts and starting business, especially by top cities such as Mumbai and Delhi.
After textiles, NITI Aayog for reforms in other job-intensive sectors
The National Institution for Transforming India (NITI Aayog), after its recent push for Rs 6,000 crore (US$ 894 million) textile sector package, aims to persuade the Government for similar support in the manufacturing sectors with large-scale employment generation opportunities, such as electrical and electronics engineering, footwear and light manufacturing segments, which also have export potential.
Govt aims to connect 125,000 villages with 80,000 mini-buses
The Government of India plans to integrate villages with country’s economic mainstream by purchasing around 80,000 mini-buses, which will connect over 125,000 villages to markets and thereby provide access to better job and education prospects.
Cabinet approves Pradhan Mantri Kaushal Vikas Yojana 60 lakh youth to be trained afresh
The Union Cabinet has approved the Pradhan Mantri Kaushal Vikas Yojana (PMKVY) with an outlay of Rs 12,000 crore (US$ 1.8 billion), which will impart fresh training to 6 million youths and certify skills of 4 million persons acquired non-formally under the Recognition of Prior Learning (RPL).
Urban Development Minister announces decisions for development of civic facilities and transport infrastructure in Delhi
Mr Venkaiah Naidu, Union Minister for Urban Development, has announced reduction in rates for use of land towards civic facilities provided by the Central Government as well as Government of National Capital Territory of Delhi, in addition to provision of Rs 658 crore (US$ 98 million) for five projects that will help decongest traffic at critical locations in the city.
Economy to grow at 7.9% in FY17 if monsoons, global conditions are favourable: Crisil
Crisil, the local unit of global ratings firm Standard and Poor’s, estimates Indian economy to grow at 7.9 per cent in FY 2016-17, provided the monsoon for the year is normal and global macroeconomic conditions remain stable, while also noting that the quality of growth of the Indian economy has gradually improved.
Government of India and ADB Sign US$ 100 Million Loan for 'Climate Adaptation in Vennar Subbasin of Cauvery Delta project' in Tamil Nadu
The Government of India has signed a US$ 100 million loan agreement with the Asian Development Bank (ADB), which will be used to strengthen key irrigation and drainage system and improve water management in the Vennar sub-basin of Cauvery Delta in Tamil Nadu.
Indian firms most transparent among emerging market peers
Indian companies are more transparent than their counterparts in BRICS nation due to strict government requirements for financial disclosures, including subsidiaries operating in different countries, according to a report by Berlin-based Transparency International, which analyses efforts of emerging market companies to fight corruption.
Online financial services market to hit Rs 15k crore by 2020: Report
India's online financial services market is expected to reach Rs 15,000 crore (US$ 2.24 billion) by 2020, based on increased usage of mobile wallets and insurance services, according to a report from MAPE Advisory Group and MXV Consulting.
Pay TV sales to touch Rs 1.2 lakh cr in 2025
India's pay television (TV) sector is expected to grow by 9.2 per cent year-on-year to Rs 97,150 crore (US$ 14.5 billion) by 2021 and Rs 120,000 crore (US$ 18 billion) by 2025, according to data from Media Partners Asia (MPA).
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