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    India Positive - 16 September, 2016

  • India Positive - 16 September, 2016

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September 16, 2016

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India is acknowledged as an economic power: Onno Ruhl, World Bank’s Country Director in India

Mr Onno Ruhl, Country Director, World Bank India, has stated that India is now acknowledged as a country of global importance beyond its history and sheer size of population, as an economic power.

India, Russia to put in place a 'Green Corridor' to enhance bilateral trade

India and Russia plan to implement the Green Corridor project between the two countries, which will help in boosting trade by allowing entrepreneurs to avoid customs inspection and examination while crossing the border.

Govt readies for next big push on roads

The Government of India plans to invest Rs 3 trillion (US$ 44.84 billion) for developing 35,000 km of roads across the country, of which 21,000 km will be economic corridors and 14,000 km will be feeder routes, which is expected to improve freight movement, ease traffic bottlenecks and improve inter-city connectivity in the country.

Creation of GST council gets Union Cabinet approval

Post approval by the Union Cabinet, the Ministry of Finance has notified setting up of the goods and services tax (GST) council, which will consist of the Union Finance Minister and state finance ministers, and which will decide the final design of GST including decisions such as applicable tax rates.

India may boost defence ties with Afghanistan

The Government of India is seeking to boost its defence ties with Afghanistan by training Afghanistan's defence forces and supplying military hardware, and offering US$ 1 billion in aid for building capacity in education, health, agriculture, skill development, energy and infrastructure.

India expected to post first current account surplus in 9 years

India is expected to post a current account surplus of US$ 4 billion, or 0.8 per cent of its gross domestic product (GDP), in April-June 2016 quarter, which would be the first surplus since January-March 2007.

Indian generics bringing down global price of hepatitis C drugs, finds WHO

The World Health Organisation (WHO) has appreciated Indian generic drug manufacturers, for being able to produce off-patent Hepatitis-C drugs at low costs, thus increasing the affordability of treatment for the disease and help cure fatal conditions such as cirrhosis, liver cancer, and liver failure.

Environment Ministry announces major initiative for R&D into next generation HFC refrigerant alternatives

The Ministry of Environment, Forest and Climate Change (MoEFCC) has announced a research and development (R&D) initiative to develop next generation sustainable refrigerant technologies as alternatives to the currently used refrigerant gases like hydrofluorocarbons (HFCs), in order to mitigate its impact on the ozone layer and climate.

India among top M&A markets in Asia-Pacific: Study

India has become an attractive investment market for inbound mergers & acquisitions (M&As) in the Asia-Pacific market, led by developed countries such as US, UK and Japan, which led to 227 inbound M&A deals totaling US$ 19.6 billion in 2015, and recording 82 deals totaling US$ 9 billion in first half of 2016, due to attractive growth prospects, as per report by Kroll and Mergermarket.

India biggest recipient of remittances in 2015; Kerala gets highest share

India received the highest amount of remittances globally at US$ 69 billion in 2015, with the state of Kerala accounting for the highest share of 25-30 per cent, according to data from Western Union.

US data firm Factset to set up its largest global office in Hyderabad

Factset, a US-based financial data and analytics firm, plans set up its largest global office at Divyasree Orion Special Economic Zone (SEZ) in Gachibowli, Hyderabad.

India 2nd-largest base for Facebook with 155 mn users

Mr Adit Vaidya, Products Manager of Facebook Groups, said that India is the second largest base for Facebook with 155 million users, with 80 million users of Facebook Groups in the country.