India Positive - 30 September, 2016
- November 30, -0001
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Asian Development Bank (ADB) retained its projections for India's economic growth at 7.4 per cent for FY 2017 and stated that India's economy will remain on a strong growth path, aided by implementation of key structural reforms, robust consumer demand and higher agricultural output, driven by a good monsoon.
India is looking to operationalise the negotiated Bilateral Investment Promotion and Protection Agreements (BIPA) treaty with Canada, as part of its efforts to enhance economic cooperation and attract foreign investment in the country.
India has become the second most competitive BRICS economy by jumping 16 places to rank 39th among 138 countries, and is expected to grow faster than China in 2016, according to Global Competitiveness Index of the World Economic Forum (WEF).
The Ministry of Earth Sciences (MoES) has signed a 15-year contract with the International Seabed Authority (ISA), for exploration of poly-metallic sulphides (PMS) in the Indian Ocean, thereby enhancing India’s presence in the Indian Ocean where players like China, Korea and Germany are active.
The Union Cabinet has approved a memorandum of understanding (MoU) between India and Singapore, aimed at boosting innovation, creativity and technological advancement in both regions by enhancing bilateral cooperation activities in the arena of industrial property rights of patents, trademarks and industrial designs.
Mr Bandaru Dattatreya, Minister of Labour and Employment, has stated that the Government of India will likely sign social security agreements with Brazil, Russia, China and South Africa, which would help promote labour mobility among BRICS nations.
India, Afghanistan and Iran participated in a trilateral meeting to discuss the modalities for establishing an international transport and transit corridor, that is Chabahar Agreement, which is expected to open up new opportunities for the private sector and generate new jobs among the three countries.
Mr Suresh Prabhu, Minister for Railways, launched a series of policy initiatives, including station to station special freight rates policy, allotting 33 per cent quota for women in catering units, and giving preference to local domicile holders for commercial licenses at station, among others, as promised in the Railway Budget 2016-17.
The Tax department has released draft rules for the Goods & Services Tax (GST) regime, aimed at providing complete electronic payment of tax and adjustment of credit, and a unique ID number for every debit or credit transaction, to ensure a proper audit trail.
The first Incredible India Tourism Investment Summit 2016, which was organised from September 21-23, 2016, witnessed signing of 86 Memoranda of Understanding (MoUs) worth around Rs 15,000 crore (US$ 2.25 billion), for the development of tourism and hospitality projects.
The Cabinet Committee on Economic Affairs (CCEA) has cleared a new indirect tax network (systems integration) called Project SAKSHAM, which will help in swift progress towards implementation of Goods and Services Tax (GST) in the country.
The Government of India allocated Rs 1,500 crore (US$ 225.7 million) and announced various measures under the Merchandise Exports from India Scheme (MEIS), including setting up of agencies for aquaculture and fisheries in coastal states, in order to boost marine exports from the country.
ADB maintains India's economic growth at 7.4% for FY17
Asian Development Bank (ADB) retained its projections for India's economic growth at 7.4 per cent for FY 2017 and stated that India's economy will remain on a strong growth path, aided by implementation of key structural reforms, robust consumer demand and higher agricultural output, driven by a good monsoon.
India to operationalize BIPA with Canada
India is looking to operationalise the negotiated Bilateral Investment Promotion and Protection Agreements (BIPA) treaty with Canada, as part of its efforts to enhance economic cooperation and attract foreign investment in the country.
India becomes the second most competitive BRICS economy, to grow faster than China
India has become the second most competitive BRICS economy by jumping 16 places to rank 39th among 138 countries, and is expected to grow faster than China in 2016, according to Global Competitiveness Index of the World Economic Forum (WEF).
India signs contract for exploration of polymetallic sulphides with International Seabed Authority
The Ministry of Earth Sciences (MoES) has signed a 15-year contract with the International Seabed Authority (ISA), for exploration of poly-metallic sulphides (PMS) in the Indian Ocean, thereby enhancing India’s presence in the Indian Ocean where players like China, Korea and Germany are active.
Cabinet approves India - Singapore MoU to give a boost to innovation, creativity and technological advancement
The Union Cabinet has approved a memorandum of understanding (MoU) between India and Singapore, aimed at boosting innovation, creativity and technological advancement in both regions by enhancing bilateral cooperation activities in the arena of industrial property rights of patents, trademarks and industrial designs.
India to sign social security pacts with other BRICS nations
Mr Bandaru Dattatreya, Minister of Labour and Employment, has stated that the Government of India will likely sign social security agreements with Brazil, Russia, China and South Africa, which would help promote labour mobility among BRICS nations.
Trilateral meet between India, Afghanistan and Iran to take Chabahar Agreement further
India, Afghanistan and Iran participated in a trilateral meeting to discuss the modalities for establishing an international transport and transit corridor, that is Chabahar Agreement, which is expected to open up new opportunities for the private sector and generate new jobs among the three countries.
Minister of Railways launched and dedicated various services to the nation
Mr Suresh Prabhu, Minister for Railways, launched a series of policy initiatives, including station to station special freight rates policy, allotting 33 per cent quota for women in catering units, and giving preference to local domicile holders for commercial licenses at station, among others, as promised in the Railway Budget 2016-17.
Tax department unveils draft rules for registration under GST
The Tax department has released draft rules for the Goods & Services Tax (GST) regime, aimed at providing complete electronic payment of tax and adjustment of credit, and a unique ID number for every debit or credit transaction, to ensure a proper audit trail.
86 MoUs aggregating close to Rs 15,000 crores exchanged in IITIS-2016 & many more are in pipeline
The first Incredible India Tourism Investment Summit 2016, which was organised from September 21-23, 2016, witnessed signing of 86 Memoranda of Understanding (MoUs) worth around Rs 15,000 crore (US$ 2.25 billion), for the development of tourism and hospitality projects.
Cabinet approves administrative and financial sanction towards the implementation of the Project SAKSHAM
The Cabinet Committee on Economic Affairs (CCEA) has cleared a new indirect tax network (systems integration) called Project SAKSHAM, which will help in swift progress towards implementation of Goods and Services Tax (GST) in the country.
Govt to set up agencies for aquaculture and fisheries in coastal states
The Government of India allocated Rs 1,500 crore (US$ 225.7 million) and announced various measures under the Merchandise Exports from India Scheme (MEIS), including setting up of agencies for aquaculture and fisheries in coastal states, in order to boost marine exports from the country.
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