Search Result for : Global Economy

The Dollar Business Bureau Minister of Commerce and Industry and Civil Aviation Suresh Prabhu said on Monday that India will become a $5 trillion dollar economy but it is just a matter of time. “Trade can only happen once products are manufactured. India must produce and increase the scale of the production to increase its share in the global economy,” Prabhu said, while speaking at an event organised by the Confederation of Indian Industry (CII) in New Delhi. The Minister said that the services sector is also important and will generate jobs. And in this regard, the Government has allocated Rs.5,000 crore toward 12 champion service sectors. While he believes that services exports will be more than the merchandise exports, Prabhu said that for ...

The Dollar Business Bureau Estimating a positive economic prospect for the US, Janet L Yellen, Chairwoman, Federal Reserve System Board has told the American lawmakers that the world growth is likely to boost the US exports. “I expect that, with further gradual adjustments in the stance of monetary policy, the economy will continue to expand at a moderate pace over the next couple of years, with the job market strengthening somewhat further and inflation rising to 2%,” she told House Finance Services Committee members during a Congressional hearing. “This judgement shows our view that the monetary policy continue to be accommodative. The present job gains would continue supporting the growth in incomes, thereby consumer spending. The world economic growth should further support US ...

The Dollar Business Bureau World Bank on Sunday kept unchanged its forecast for growth of global economy at 2.7% for 2017 and 2.9% for 2018, amid pick up in manufacturing and trade and improved confidence. The world economy is set to register a strong growth in 2017, in view of improving global trade and improved performance by major emerging economies, but substantial uncertainties could still loom over the outlook, said the World Bank. Increasing trade protectionism measures and policy uncertainties, majorly in the US, pose significant cautions for the growth outlook. This is for the first time in the last four years that the recent edition of the Global Economic Prospects report of World Bank has not lowered the growth prediction even as new risks have emerged. ...

The Dollar Business Bureau Australian Prime Minister Malcolm Turnbull in his maiden visit to India has struck bonhomie with the country, especially with Indian PM Narendra Modi in ways not many of his predecessors or diplomats would have been able to do. The diplomat on his 3 day visit not only visited the political capital, but also made a halt at the financial capital- Mumbai, before heading home. During his visit Turnbull referred to Indian Prime Minister Narendra Modi’s tax reforms as ambitious and efficient. He additionally averred that Modi-regime’s tax efficiency has deregulated the economy and created effective duty structures. The visiting PM boarded a metro with NaMo to visit the Akshardham Temple and on the third day of his tour, was ...

The Dollar Business Bureau Keeping in view the US’ recovering economy and the investors’ positive sentiments around it, the US Federal Reserve Chair Janet Yellen on Friday said the fed will adopt a more aggressive rate path ahead, first by raising interest rates at its next meeting on March 14-15, and possibly make further adjustments after the meeting.   "At our meeting later this month, the committee will evaluate whether employment and inflation are continuing to evolve in line with our expectations, in which case a further adjustment of the federal fund rates would likely be appropriate," Yellen said. “We realise that waiting too long to scale back some of our support could potentially require us to raise rates rapidly sometime down the road, ...

Sairaj Iyer Speaking to venerated macro-economist and Former Deputy Governor at RBI, Dr. Subir Gokarn, was a revelation. A man who is known for his research interests in financial inclusion, health and education and whose views on contemporary global and domestic economic issues have been widely appreciated, Dr. Subir pointed out that share of trade component in a global economy may no longer correspond with GDP numbers. Reflecting on the research data as evidence to explain dipping relationship between GDP and global trade in goods and services the Executive Director at the IMF said, “If we look at trade comparison with GDP in the period between mid-80’s and mid-2000, you will find that global trade was a genuine contributor to growth. Share ...

The Dollar Business Bureau Finance Minister Arun Jaitely on Thursday cautioned the world about adopting US President Donald Trump-influenced trade protectionist stance and said such a move will translate into inefficient economies and contracted GDP growth across the world. Speaking at the ASSOCHAM annual meeting in New Delhi, Jaitley said the world has witnessed a sluggish growth for the last few years and such a move will only complicate the global economies scenarios even further.  “Developed countries have turned protectionist...If it has impact on trade, movement of goods and people, (it) could make economies more inefficient and reduce GDP,” he said. Jaitley had presented rather a calculated Union Budget, which came in the backdrop of rising global crude prices, raising risks of inflation, in turn affecting ...

PTI With the message of being a "very friendly" investment destination, India today sought to woo foreign investors at the WEF annual meet where leaders pored over the benefits of globalisation amid concerns over the impact of automation on jobs worldwide.The issue of slow pace of bridging the gender gap also figured prominently in discussions, with IMF chief Christine Lagarde referring to an example from India about how women are using mobiles to report harassment by their mothers-in-law.India, one of the fastest growing major economies, was represented here by a delegation of over 100 individuals, including ministers, government officials and business leaders. The country is striving to showcase itself as a bright spot in an uncertain global economic situation.While Union Minister Nitin ...