Power equipment exports dip 50% in last 2 yrs: FGi
Sharath Chowdary With the global economic slowdown, India’s electrical power equipment exports have declined around 50% in the past two years, Federation of Gujarat Industries (FGi) Vice President Nitin Mankad told The Dollar Business Bureau. Nitin Mankad said, “Countries from Europe, Africa and Middle East are the main export markets for Indian power equipment. Due to the slowdown in the world economy, the imports have decreased heavily in the last couple of years.” Due to the initiatives taken up by the Indian government to electrify rural areas, the country’s power equipment has registered 6.8% growth in FY 2016 over the previous fiscal year. Though the growth is currently stagnant, there is lot of scope for this industry in the next few years, he said. Explaining about ...
PM Modi asks India Inc to take risk and invest more
Source: PTI Prime Minister Narendra Modi along with Finance Minister Arun Jaitley and Transport Minister Nitin Gadkari in a high-level meeting with industry leaders in New Delhi on Tuesday. Prime Minister Narendra Modi on Tuesday asked India Inc to increase risk-taking appetite and step up investments even as industry leaders pressed for interest rate cut and more policy action to improve ease of doing business. “Prime Minister has said that industry must take risk and increase investments...we must go out and invest. Industry has a role to play,” CII president Sumit Mazumder told reporters after the meeting of Prime Minister with CEOs, bankers, economists and bureaucrats on the global economic slowdown. Several industry leaders meanwhile pitched for interest rate cut ...
