Search Result for : South Asia

By Ahmad Shariq Khan Hyderabad has been chosen to be the venue for the Global Entrepreneurship Summit 2017 (28-30 November) at a time when US-India entrepreneurial bonds have been growing stronger. This is the first time that the GES will be hosted in South Asia, and the event is aimed at highlighting India’s rapidly evolving environment for innovation and entrepreneurship. In a run up to the marquee event, The Dollar Business spoke to Katherine B. Hadda, the US Consul General in Hyderabad on a wide range of topics – from the GES 2017 to strengthening Indo-US ties. TDB: How would you define current status of US-India ties? Katherine B. Hadda (KBH): During his recent visit to New Delhi, US Secretary of State Rex Tillerson described ...

The Dollar Business Bureau The start-up hub Nexus, an American Government-funded platform to enable and encourage start-ups in India, has chosen New Delhi to host its activities as the country’s capital has ‘all the right components’ required for such type of initiatives, said Erik Azulay, Director, Nexus. “Delhi has all the right components, you have the entrepreneurs, the funders, the government, the capital and other complementary factors. We saw an ecosystem here which was needed for starting this initiative,” Azulay told PTI. Azulay, who moved to New Delhi from Austin (Texas) to establish and run the centre, said that New Delhi is the pilot and now the vision is to enhance the presence to other parts of the country and South Asia. “We did look at ...

The Dollar Business Bureau India is likely to remain the favoured destination for foreign direct investment (FDI) inflows this year despite a stagnant inflow of $44 bn in 2016 the United Nations Conference on Trade and Development (UNCTAD) report detailed. India is favoured by the MNCs for its cross-border merger and acquisitions the report said. The report details that FDI inflows to developing Asia are expected to increase by 15% in 2017, to $515 billion, as an improved economic outlook in major Asian economies is likely to boost investor confidence. In major recipients such as China, India and Indonesia, renewed policy efforts to attract FDI could contribute to an increase of inflows in 2017. The report, however, cautioned that tax-related challenges may pose as ...

PTI The US has approved $75 million high-tech chemical protective clothing for the Indian armed forces that will protect soldiers against biological and chemical warfare. The Joint Service Lightweight Integrated Suit Technology (JSLIST) consists of 38,034 each: suits, pairs of trousers, pairs of gloves, pairs of boots and NBC bags; 854 aprons; 854 alternative aprons; 9,509 Quick Doff Hoods; and 114,102 M61 filters. The entire package also includes 38,034 M50 general purpose masks. The Defence Security Cooperation Agency (DSCA) made a notification to the Congress on May 10 after the State Department made a determination in this regard. India had made a request for these special clothing as part of its military modernization programme. In its notification to the Congress, the DSCA ...

The Dollar Business Bureau  A Memorandum of Understanding (MoU) on grid interconnections for smooth power sharing infrastructure in the South Asian region was finalised by seven partner countries of BIMSTEC in January 2017. Bangladesh, Myanmar, Nepal, Bhutan, Thailand, Sri Lanka and India had together initiated the Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) in 2005 to formulate the "Plan of Action for Energy Cooperation in BIMSTEC".  Giving a nod to a proposal forwarded by the Ministry of Power on April 12, the Cabinet approved the signing of "Memorandum of Understanding for Establishment of the BIMSTEC Grid Interconnection".  Negotiations for the agreement have been ongoing for years. During the period, a total of five meetings were held under the banner 'Task Force for BIMSTEC on Trans-power Exchange', to reach consensus. Once a draft MoU ...

The Dollar Business Bureau The South Asia Subregional Economic Cooperation (SASEC) family congregated in New Delhi on April 3, 2017, to deliberate upon a new direction for sub-regional economic cooperation among the member countries. During the meet, the finance ministers collectively agreed that enhanced regional cooperation could add $70 billion to their combined GDP and generate 20 million employment opportunities annually by 2025. The SASEC initiative was founded in 2001, with India, Nepal, Bhutan and Bangladesh as member nations. Over the years, the regional group has grown to include Sri Lanka, Maldives and Myanmar. A joint ministerial statement released after the summit recognised the importance of regional co-operation to boost economic growth in South-Asia, especially in times of slow global growth. Additionally, it also reviewed the progress of SASEC over the past 16 ...

The Dollar Business Bureau The Asian Development Bank (ADB) on Tuesday cut down its growth estimate for India this year to 7% from its earlier 7.4% due to demonetisation, lower investments and slowdown in agricultural output. However, it kept the growth forecast for next year at 7.8%. “Economic growth in Asia’s developing economies remains largely stable, but a little slowdown in India has trimmed the region's growth outlook for this year,” said the latest report by ADB. In addition to its report ‘Asian Development Outlook 2016 Update’, the development has downgraded this year’s growth forecast for Asia to 5.6%, less than its last projection of 5.7%. The growth forecast remains unchanged at 5.7%, for 2017. “India's tempered growth projection to 7% from the previously forecast ...

The Dollar Business Bureau   The export-oriented apparel production in India and other South Asian countries has the capacity to generate more superior jobs, as around one million people are likely to come into the workforce every month for the next three decades, said a new report by the World Bank. The report titled, “Stitches to Riches? Apparel Employment, Trade and Economic Development,” was launched on Thursday in New Delhi. “As wages surge, China, the largest manufacturer of apparels for the past 10 years, is expected to gradually relinquish its top position in the worldwide apparel market, creating opportunities for other competitors,” the report said.  This could be a great opportunity for countries like India and others in the South Asian region. A simple 10 percent ...