Search Result for : Digital India

The Dollar Business Bureau Commerce Secretary Rita Teaotia said on Thursday that engineering exports from India, which have already on a healthy growth trajectory, are likely to witness a ‘new high’ in the ongoing fiscal.  Exports from the engineering sector have reached $62 billion, recording a growth of around 22% during the period April-January of 2017-18.  “We are confident that, the exports will see a new high this financial year,” Teaotia said, while speaking at the inauguration of India Engineering Sourcing Show (IESS) organised by Engineering Export Promotion Council (EEPC) of India in Chennai.  Commerce Secretary said the shipments to developed nations are increasing at a rapid pace. Exports to Europe and North America account for around 40% of the overall exports from engineering sector.  The initiatives ...

The Dollar Business Bureau  John Chambers, the Executive Chairman of Cisco Systems Inc was in India during the creation of the US-India Strategic Partnership Forum (USISPF). An ardent admirer of India, its culture and its government’s strategy and vision, John Chambers is confident that India will figure among the top three economic powers in the next 10 to 15 years. He believes that the country’s strength lies in the democracy and the partnerships it has with other countries.  Chambers who is now the Chairman of USISPF declared that, ‘if he were to bet on one nation for future outside the US, it would be India.’ He predicted that India would turn out to be a role model for the world economies.  "You will ...

The Dollar Buisness Bureau The Minister of Communications Manoj Sinha said that the Indian telecom industry has seen a paradigm shift from a voice centric market to a data-centric market. While voice business still contributes a large chunk towards operator revenues, data revenues have shown an exponential growth trajectory over the last few years. Speaking at a Workshop on Telecom India, the Minister said that by the end of 2016 the number of internet subscribers in India was 391.50 million making India globally the 2nd highest in terms of internet users. He said that mobile data traffic also grew by 76% in India in 2016 which was primarily attributed to increased smart phone penetration. This growing usage of smart phones, especially in urban ...

The Dollar Business Bureau          The IT industry should help India build a $1 trillion digital economy within four years by creating affordable technology and an inclusive environment, Union Minister Ravi Shankar Prasad said today at the High Level Round Table with Pioneers of Industry for developing the roadmap for ‘One Trillion Dollar Digital Economy of India’, organised by MeITY, in New Delhi. Highlighting multi-billion dollar opportunities that exist in areas like IT and IT enabled services, e-commerce, electronics manufacturing, digital payments and cyber security, he said that achieving $ 1 trillion digital economy is not a "tall claim". "I don't have any doubt that it will become $1 trillion in 7 years. My humble request is why wait for 7 ...

The Dollar Business Bureau To drive digital transformation in Jharkhand, the US-based technology major Oracle Corporation signed a pact on Monday with the state government and said that the company has not set any targets for investments in technology. Safra A Catz, CEO of Oracle Corporation, who is on a 3-day visit to India said Oracle technologies are bound to drive digitization in the country, the second largest base of the company after the US. Catz hoped the recent pact with the Jharkhand government, and a similar agreement with the government of Maharashtra in 2016, would set a course for partnerships with other states. “The investment is unbounded. We have not bound the investments in any way...we have not put a cap on it,” ...

The Dollar Business Bureau  Chandrababu Naidu, Chief Minister of Andhra Pradesh, has been selected for the US-India Business Council’s (USIBC) ‘Transformative Chief Minister Award’ for his role in strengthening the partnership between India and the US at the state level. The award would be presented to the Chief Minister on May 8, 2017 during the Annual West Coast Summit of USIBC in the Menlo Park, California, according to a statement. The summit will see an assembly of 150 industry leaders from across sectors including information technology (IT), manufacturing, healthcare, food processing, clean energy, banking, digital payments and officials from the Government of India for exploring the effects of manufacturing in India, the country’s move towards digitisation and cashless society and the future of ...

By Manishika Miglani It’s been three years since the Narendra Modi-led government came into power and announced a slew of measures to revive the investment climate of the country since then. In an interview with The Dollar Business, G.V.L. Narsimha Rao, Spokesperson, BJP, talks about the performance of the government, so far, and the party’s roadmap for further leveraging the business sentiment of the nation. TDB: The government has focussed on consolidating the investment scenario of the country? Has it been successful in achieving its targets? G. V. L. Narsimha Rao (GVL): At a time when global FDI inflows have turned negative, India has experienced the highest growth in the sector in the last three years. So, our government has been very successful ...

The Dollar Business Bureau India is keen to increase the manufacturing sector's contribution to gross domestic product (GDP) to 25%, Commerce Minister Nirmala Sitharaman, said while adding that Japan is a natural partner in India's goals.The Minister was speaking at the India conference held in Nagoya city in Japan’s Aichi Prefecture.She commended the Aichi Prefecture contribution towards value addition in manufacturing in spite of high savings rate in the Prefectures in the country.It was also discussed at the event that India could learn from Aichi Prefecture on how to increase growth in manufacturing along with savings.Sitharaman acknowledged the growth in the foreign direct investment (FDI) from Japan to India in the past few years. Though Japan is the third largest investor in ...