AP grows at 10.99%, reaches GSDP of $100 bn in FY15-16
Sairaj Iyer Andhra Pradesh, India’s eighth largest state, has grown by 10.99% in the financial year 2015-16 and reached a cumulative gross state domestic product (GSDP) of $100 billion, a figure 5% above the national average, said a senior state official. “India’s eighth largest state has grown by 10.99% in 2015-16 to reach a cumulative $100 billion GSDP (Gross State Domestic Product), a figure 5% over the national average, said Ajay Jain, the state Government’s principal secretary, while speaking at The Andhra Pradesh Investment Roadshow at Mumbai organized by CII on Monday. While addressing the event, Jain also shared the master-plan which outlined infrastructure, sectoral policies, new industrial corridors, and details of the state’s capital in Amaravati. Elucidating the plans on infrastructure he shared ...
UAE to invest $75 billion in India, enhance bilateral trade
The Dollar Business Bureau Prime Minister Narendra Modi (L) with Vice-President and Prime Minister of UAE, HH Mohammed bin Rashid Al Maktoum (R), at Za’abeel Palace, Dubai, on Monday. The United Arab Emirates (UAE) will increase its investment in India to $75 billion and the two countries have agreed to enhance the bilateral trade by 60% in the next five years. At present, the India-UAE trade is estimated to be around $60 billion and the gulf country’s investment in India is around $8 billion. Prime Minister Narendra Modi met Crown Prince Mohamed Bin Zayed AI Nahyan in Abu Dhabi on Monday. “The two leaders agreed to further promote trade between the two countries, and use their respective locations and infrastructure ...
Asia Pacific region to be the growth engine for the world economy: FM
The Dollar Business Bureau In midst of the continuing global economic vicissitude, the Asia-Pacific region appears to be the functional ‘growth engine’ for the world economy. Asian Development Outlook 2015 estimates Asia to grow at 6.3% in 2015 and 2016, said Union Finance Minister, Arun Jaitley at the first business session of the 48th Annual Meeting of the Asian Development Bank (ADB) at Baku, Azerbaijan on May 4, 2015. The Finance Minister said, “We are meeting at a time when the global economy is looking slightly better than 2014 but not by much. Global growth in 2014 was lower than initially expected – continuing the pattern of disappointing outturns as seen in earlier years. Beneath the headline numbers, increasingly divergent trends ...
