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Govt actions are promising for growth, says Jack Ringquist of Deloitte
Mr Jack Ringquist, Global leader for consumer products, Deloitte, has expressed confidence in the reforms introduced by the Government of India, and stated that in the long term those reforms will be very promising for continued growth and investments in the country.
Moody's affirms India's Baa3 rating, maintains positive outlook
Moody's has affirmed the Government of India's Baa3 rating with a positive outlook, and stated that the economic and institutional reforms introduced by the government will lead to further improvements in India's macroeconomic and institutional profile and thereby enable the country to outperform its peers over the medium term.
India to be most digitised economy in 7 years, says Bill Gates
Mr Bill Gates, Co-founder of Microsoft Corp, has stated that India will move quite rapidly to a digital payments economy in as little as seven years, based on the introduction of digital payment banks combined with other things like direct benefit transfers, universal payments interface and Aadhaar.
India to be part of core World Bank team
Mr Axel Van Trotsenburg, Vice President of Development Finance, World Bank, has stated that India will soon be a part of the core management team of the International Development Association (IDA) of the World Bank, a 14-member group of donor nations which run the key negotiations with member countries.
Setting up of Industry Driven SRTMI
The Ministry of Steel plans to set up a Steel Research & Technology Mission of India (SRTMI), an industry driven institutional mechanism, which will carry out research and development (R&D) activities in the iron and steel sector in India.
Working towards innovative and cost-effective R&D solutions for becoming a global hub of centre of excellences in steel industry: Steel Minister
Mr Chaudhary Birender Singh, Union Minister of Steel, has stated that the Ministry of Steel is constantly working towards innovative and cost-effective research & development (R&D) solutions, developing and commercialising improved processes and products, and continually enhancing the capability, in order to make India a global hub of centre of excellence in steel industry.
Govt considers providing tax benefits, marketing support for powerloom sector
The Government of India plans to introduce a mega package for the powerloom sector, which will include social welfare schemes, insurance cover, cluster development, and upgradation of obsolete looms, along with tax benefits and marketing support, which is expected to improve the status of power loom weavers in the country.
Pharma research approval system to be put on fast track
The Government of India plans to set up a single window approval system for innovation in medical research, in order to grant permission/approvals within 30 days from the date of application to Indian innovation projects who have applied for global patent.
37 Waterways Projects to develop in the next three years
The Ministry of Shipping plans to undertake development of 37 national waterways (NWs), out of the 111 NWs declared under the National Waterways Act 2016, in the next three years, which would have positive impact on reduction of overall logistics cost.
India’s Foreign Trade: October, 2016
Total merchandise exports from India grew by 9.59 per cent year-on-year to US$ 23.5 billion in October 2016, while overall trade deficit declined by 52.91 per cent year-on-year to US$ 20.8 billion in April-October 2016, according to data from the Ministry of Commerce & Industry.
Retail inflation eases to 14-month low of 4.20% in October
India's retail price inflation declined to a 14-month low of 4.2 per cent in October 2016, led by a drop in the annual food inflation to 3.32 per cent in October 2016 from 3.96 per cent in September 2016, according to data from the Central Statistics Office (CSO).
Impact investing in India could touch $6-8 billion by 2025: McKinsey
Impact investments in India is expected to grow at a compound annual growth rate (CAGR) of 20-24 per cent to touch US$ 6-8 billion by 2025, from US$ 1 billion in 2015, according to McKinsey & Co.