FSB scores India as 'compliant or largely compliant'
The Dollar Business Bureau An international body for financial system, The Financial Stability Board (FSB), has given a good status report, terming India to be ‘compliant or largely compliant’. The report was submitted ahead of the G20 Summit to be held in Germany. The FSB was established in 2009 as a successor to the Financial Stability Forum (FSF). It is a not for profit association functioning under the Swiss law with its seat in Basel, Switzerland. This comes as a good news to India as PM Modi is likely to attend the G20 Summit and the report listed India as a ‘compliant’ jurisdiction with regard to Basel III reforms in risk-based capital and also termed it as ‘largely compliant’ with regard to the ...
Strong demand for imports from developing countries is driving a recovery in world trade this year: S&P
The Dollar Business Bureau Imports are likely to drive a recovery in world trade this year. According to S&P Global Ratings’ report released recently, world trade growth is gaining momentum after a prolonged period of weakness. Import growth picked up last year in November and continued to sail on the same strong note into 2017. Early months of 2017 saw global imports rise by 4.1% according to the data published by the Netherlands’ Bureau for Economic Policy Analysis. However, the volume of world trade decreased in February by 0.6% while January recorded a 1% increase. World industrial production grew 0.2% month on month and world industrial production momentum was 0.9%. According to an S&P economist “This pickup in global trade is benefiting the ...
Beer industry to grow at 7.5% between 2017 and 2021
The Dollar Business Bureau India’s beer industry is slated to grow at an annual growth rate of 7.5% between 2017 and 2021, as rising disposable incomes of the middle-class segment will translate into higher spending, according to a recent report. Last year, India's beer consumption stood at 4.6 litres per capita as against 57 litres per capita of fast-emerging economies in Asia. Several states have imposed their own sets of regulations related to the sale of alcohol, in addition to licensing restrictions, excessive localised taxes and a countrywide restriction on advertising of alcoholic drinks, which has somewhat hit the industry’s growth. Despite that, this sector would continue to attract investments from both the domestic and the foreign beer makers, according to BMI Research’s "outlook ...
Need judicious mix of policies to deal with Brexit: FM
The Dollar Business Bureau In order to deal with the uncertainty due to Brexit, India has emphasised on the need for a careful mix of monetary, fiscal and structural policies by key economies. "Governments, Central Banks and regulators have to mitigate the pressure of such vulnerabilities through judicious mix of fiscal, monetary and structural policies," Arun Jaitley, Minister of Finance said in his address at the meeting of the Board of Governors of the New Development Bank (NDB). In his address, which is read out by Raj Kumar, Joint Secretary, Ministry of Finance, Jaitley stated that the UK’s decision to leave the EU, commonly known as the Brexit, has further augmented uncertainty, volatility in the market and disinclined behaviour towards ...
Value chains have altered global trade: Yes Bank
The Dollar Business Bureau Yes Bank on Monday released its second report on India's structural trade dynamics which underscored that value chains have changed the face of global trade in recent times. Cross country inter-linkages have increased much more than the growth in volume trade. It has allowed developing and emerging economies to integrate with global markets. Trade has seen amazing growth with production being outsourced, driven by the economic rationale of comparative advantage with benefits of cost reduction and productivity enhancement. From this global perspective, India’s share in global export of intermediates at less than 2% (as of 2014) indicates its limited integration in global value chains. However, India trades the most with its global peers in intermediates. As such, it becomes interesting to ...
IMF implements quota reforms; India gets more voting rights
Source: PTI Marking a “historic” change at IMF, India, China and other emerging economies will now have more voting rights at the multilateral funding agency with the implementation of long pending quota reforms. For the first time, the four emerging economies – India China, Brazil and Russia – would be among the 10 largest members of the International Monetary Fund. Besides, more than 6% of quota shares would shift to dynamic emerging markets and developing countries. It would also mark the shift in shares from over-represented to under-represented IMF members. The much-awaited quota reforms, pending for many years, were approved by the US Congress in 2015. The 2010 Quota and Governance reforms were approved by the IMF's Board of Governors in ...
'India should strive for dominant position in high-tech products exports'
The Dollar Business Bureau India's engineering exports can achieve leadership position in a number of high technology products with the integration of large exporters and small enterprises in the country, a study has said. According to an EEPC India –KPMG study, India should aspire for a dominant position in at least 34 product categories from that of being a “follower” and the engineering industry must look for a hybrid model of growth which should include the technological advantages of the western economies like Germany. The study cautioned India from adopting China’s growth model, saying that it may have undesirable consequences. This is despite the fact that China dominates the global engineering trade with 12.3% share, while India accounts for only 1.2% ...
'US and international financial bodies bullish on India'
Source: PTI International financial bodies including the IMF, World Bank, and top US federal bodies like the Federal Reserve are “highly impressed” by India's growth at a time when emerging economies are slowing down, officials of these institutions told a group of top Indian bankers. “For the first time, we are getting a very positive feedback on India. They say that India today is a shining star. They are highly impressed by how things are shaping up in India,” G Gopalakrishna, director of RBI's Center for Advanced Financial Research and Learning (CAFRAL) told PTI at the conclusion of a three-day trip to the US Capital. Gopalakrishna is leading a team of 24 senior executives from top Indian banks on a two-week ...
