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The Dollar Business Bureau India looks set to overtake the economies of France and Britain in 2018 to become the fifth largest economy in the world in dollar terms, according to a report by one of the leading economics consultancies in the UK. The World Economic League Table 2018 by Centre for Economics and Business Research (Cebr) consultancy painted a positive view of the world’s economy, supported by cheap prices of energy and technology. India’s rise is a part of the trend that will witness economies in Asia increasingly dominate the 10 biggest economies in the coming 15 years. Douglas McWilliams, Deputy Chairman, Cebr said, “Despite temporary setbacks, India's economy has still caught up with that of France and the UK and in 2018 ...

The Dollar Business Bureau  N Chandrasekharan, the Chairman of Tata Steel in his address to the shareholders in the company’s Annual Report for 2016-17 said, Tata Steel’s strategic priorities going forward will be to focus on India while pursuing  pension restructuring programme in the UK, which is likely to conclude soon.  Speaking about the steel demand in India which is likely to witness growth soon in the near future, Chandrasekharan said, "While the steel sector in India is financially stressed currently, the government of India has outlined its intent for ensuring long-term viability of the sector through the recently announced National Steel Policy 2017.”  Chandrasekharan who had taken over as Chairman of the company in February after the departure of Cyrus Mistry said, ...

The Dollar Business Bureau  UK’s Immigration Minister Brandon Lewis said on Thursday that after the Brexit deadline, nationals from European Union (EU) countries will have to face same visa requirements as the migrants from non-EU nations. Freedom of movement is an aspect of the UK’s EU membership and this will end once the country exits the bloc, Lewis said. This would mean that migrants from the 27-member bloc will face similar visa restrictions as Indian nationals, as soon as Britain leaves the EU - the deadline for the same is March 2019. “Free movement of labour ends when we leave the EU in the spring of 2019. I’ll be very clear about that,” Lewis told a leading international news agency. “Obviously, there’s a period of ...

The Dollar Business Bureau Due to adverse weather conditions, the production of mangoes declined around 70% and mango cultivators have suffered huge losses in Uttar Pradesh this year. Therefore, the exports of ‘king of fruits’ would likely to go down from the state. “This year mango production will be between 10 lakh tonnes to 15 lakh tonnes only. There is 70% drop in mango production as compared to previous year,” Insram Ali, President of All India Mango Growers Association (AIMGA) told PTI. Due to low output, the exports of mango from Uttar Pradesh are also negligible as the growers are unable to export it, Ali said. “Though some growers are exporting it, but overall exports of the fruit will be quite less, he added. “There ...

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 ...

By Sheela Mamidenna UK and India share an age-old history of common interests and values and with India’s rapid rise to fame as the ‘fastest growing large economy’ in the world, the relations between the two countries could ‘reboot’ as Theresa May had expressed during her visit to India in November last year. UK is India’s 5th largest trading partner and a great place for Indian businesses and will remain so post-Brexit for many reasons. However, trade bodies like FICCI voiced a negative sentiment saying that trade between India and UK is likely to suffer due to the Brexit vote and a decline in sterling. There are over 800 Indian businesses operating in the UK and serving as a gateway to Europe. Experienced ...

The Dollar Business Bureau  Britain’s largest car manufacturer Jaguar Land Rover (JLR) will employ 5,000 people in order to boost the company’s skills in electric and autonomous technology, a welcome corporate endorsement as UK’s Prime Minister Theresa May begins Brexit negotiations after the election. JLR said that it would be hiring 1,000 electronic and software engineers and an additional staff of 4,000 in the manufacturing division. Most of the employees will be based in the UK. The company employs over 40,000 people worldwide. The recruitment will be done over the next one year, just as Britain begins talks to exit European Union (EU). Car manufacturers in UK have asked the May government to ensure that the talks result in a pact that holds free and unfettered trade in order to ...

The Dollar Business Bureau  The Customs department has suspended the imports of livestock and livestock products into India from all countries due to the threat of avian influenza. A communication to the effect was issued via notification no: 09/2015-2020 dated June 8, 2017. According to the notification, the following imports have been suspended with further effect. domestic and wild birds (excluding poultry and captive birds)  unprocessed meat and meat products from Avian species including wild birds (except poultry)  semen of domestic and wild birds (except semen of poultry)  Live poultry and captive birds  day old chicks, ducks, turkey and other newly hatched Avian species  unprocessed meat and meat products from Avian species including wild birds  hatching eggs  egg and egg products (except Specific Pathogen Free eggs)  unprocessed feathers  live pig  pathological material and biological ...