India Positive - 17 March, 2017
- November 30, -0001
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US tourists travelling to India grew 27 per cent over the past four years to reach 1.3 million tourists in 2016, according to the Ministry of Tourism, Government of India.
India has become the fastest growing investment region for foreign investors in 2016, led by an increase in investments in real estate and infrastructure sectors from Canada, according to a report by KPMG.
India's industry output grew 2.74 per cent year-on-year in January 2017, led by a good performance in the capital goods sector which registered a 10.7 per cent year-on-year growth.
India's insurance sector registered the second largest inflows after bank deposits, post the demonetisation drive of government, with ICICI Prudential posting a year-on-year growth of 48 per cent in February 2017, while HDFC Standard Life, Birla Sun Life, and Max Life registered a growth of 14 per cent, 26 per cent and 12.6 per cent respectively.
The Government of India plans to set up 35 multi-modal logistics parks at an investment of Rs 50,000 crore (US$ 7.5 billion) for developing 50 economic corridors, which will help reduce the logistics costs and make the economy competitive.
Merger and acquisition (M&A) activity in India increased to a record US$ 69.75 billion in 2016 and is expected to grow, as investors have gained confidence and become more comfortable about investing in India, said Mr Pramod Kumar, Managing Director, Barclays India.
India's engineering exports are expected to cross US$ 60 billion in the financial year 2016-17, compared to US$ 49 billion in 2015-16, supported by revival of demand in the US and for select products like iron.
The Government of India plans to invest Rs 11,421 crore (US$ 1.74 billion) to improve basic urban infrastructure in 61 cities and towns of Uttar Pradesh, having population exceeding 100,000 each by 2019-20, under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) scheme.
India’s steel exports rose 78 per cent to 6.6 million tonnes, while imports fell by 39 per cent during April 2016 and February 2017, making India a net exporter of steel for the first time in four years, according to the Indian Steel Association.
The Government of India has launched the Trade Infrastructure for Export Scheme, with a budgetary allocation of Rs 600 crore (US$ 91.77 million) for the next three years and an annual outlay of Rs 200 crore (US$ 30.5 million), which will provide assistance for setting up and upgrading export linked infrastructure in states to promote outbound shipments.
The Government of India plans to double the farmers income by 2022 in order to meet its first priority for development and upliftment of farmers, as per Mr Radha Mohan Singh, Union Minister for Agriculture and Farmers Welfare, Government of India.
The Cabinet Committee on Economic Affairs, Government of India, has approved the proposal to open 50 new Kendriya Vidyalayas (KVs) under Civil/Defence sector in the country requiring an investment of Rs 1,160 crore (US$ 177.07 million) to cater to high demand for these schools.
US tourist arrivals to India surge 27% in four years despite advisories
US tourists travelling to India grew 27 per cent over the past four years to reach 1.3 million tourists in 2016, according to the Ministry of Tourism, Government of India.
India one of the fastest destinations for investments: KPMG
India has become the fastest growing investment region for foreign investors in 2016, led by an increase in investments in real estate and infrastructure sectors from Canada, according to a report by KPMG.
January industrial output up 2.7%
India's industry output grew 2.74 per cent year-on-year in January 2017, led by a good performance in the capital goods sector which registered a 10.7 per cent year-on-year growth.
Post-demonetisation, some insurers see steep growth
India's insurance sector registered the second largest inflows after bank deposits, post the demonetisation drive of government, with ICICI Prudential posting a year-on-year growth of 48 per cent in February 2017, while HDFC Standard Life, Birla Sun Life, and Max Life registered a growth of 14 per cent, 26 per cent and 12.6 per cent respectively.
Govt readies multi-modal transport play to reduce logistics costs
The Government of India plans to set up 35 multi-modal logistics parks at an investment of Rs 50,000 crore (US$ 7.5 billion) for developing 50 economic corridors, which will help reduce the logistics costs and make the economy competitive.
M&A interest may grow as buyers get more confident about India: Barclays India MD
Merger and acquisition (M&A) activity in India increased to a record US$ 69.75 billion in 2016 and is expected to grow, as investors have gained confidence and become more comfortable about investing in India, said Mr Pramod Kumar, Managing Director, Barclays India.
India's engineering exports likely to cross $60 billion
India's engineering exports are expected to cross US$ 60 billion in the financial year 2016-17, compared to US$ 49 billion in 2015-16, supported by revival of demand in the US and for select products like iron.
Rs.11,421cr investments for basic urban infrastructure in Uttar Pradesh under Atal Mission (AMRUT)
The Government of India plans to invest Rs 11,421 crore (US$ 1.74 billion) to improve basic urban infrastructure in 61 cities and towns of Uttar Pradesh, having population exceeding 100,000 each by 2019-20, under the Atal Mission for Rejuvenation and Urban Transformation (AMRUT) scheme.
Steel mills in India reversing import woes with export push
India’s steel exports rose 78 per cent to 6.6 million tonnes, while imports fell by 39 per cent during April 2016 and February 2017, making India a net exporter of steel for the first time in four years, according to the Indian Steel Association.
Government launches new scheme for developing export-linked infrastructure
The Government of India has launched the Trade Infrastructure for Export Scheme, with a budgetary allocation of Rs 600 crore (US$ 91.77 million) for the next three years and an annual outlay of Rs 200 crore (US$ 30.5 million), which will provide assistance for setting up and upgrading export linked infrastructure in states to promote outbound shipments.
Development and Upliftment of Farmers is the first priority of the Government: Shri Radha Mohan Singh
The Government of India plans to double the farmers income by 2022 in order to meet its first priority for development and upliftment of farmers, as per Mr Radha Mohan Singh, Union Minister for Agriculture and Farmers Welfare, Government of India.
Boost to Education: Cabinet approves setting up of 50 new Kendriya Vidyalayas in the country under Civil / Defence Sector
The Cabinet Committee on Economic Affairs, Government of India, has approved the proposal to open 50 new Kendriya Vidyalayas (KVs) under Civil/Defence sector in the country requiring an investment of Rs 1,160 crore (US$ 177.07 million) to cater to high demand for these schools.
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