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The Dollar Business Bureau Arvind Panagriya has resigned as the Vice Chairman of NITI Aayog, after serving for two-and-a-half years at the country’s revamped planning commission. He resigned from the post today after heading a meeting. Panagariya has hinted that he is likely to go back to teaching and could join the Columbia University. He is likely to be relieved from his post on August 31. NITI (National Institution for Transforming India) Aayog came into effect on January 1, 2015, replacing the Planning Commission. It was created as a premier 'think tank', meant to frame policies for the Indian Government, giving directional as well as policy inputs. Panagariya was handpicked by Prime Minister Narendra Modi to head the NITI Aayog just after its creation. Like the previous Planning Commission, the Prime Minister is the Chairman of the Aayog. Panagariya, has a PhD in ...

The Dollar Business Bureau The World Summit on the Information Society (WSIS) Forum 2017 represents the world's largest annual gathering of the ‘ICT for development’ community. The annual WSIS Forum is a global multi-stakeholder platform facilitating the implementation of the WSIS Action Lines for advancing sustainable development. The Forum provides an opportunity for information exchange, knowledge creation and sharing of best practices, while identifying emerging trends and fostering partnerships, taking into account the evolving Information and Knowledge Societies.  The Forum is co-organized by ITU, UNESCO, UNDP and UNCTAD, in close collaboration with all WSIS Action Line co-/facilitators and other UN organisations (UNDESA, FAO, UNEP, WHO, UN Women, WIPO, WFP, ILO, WMO, ITC, UPU, UNODC, UNICEF and UN Regional Commissions). It provides an ...

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 ...

Sheela Mamidenna The Baltic Dry Index on Wednesday stood at 1,162 against a record low of 290 experienced in February. The index shows there has been a four-fold rise in figures. Indian shipping companies could have used this opportunity to reap benefits but failed to do so. This can be considered a missed opportunity and India’s lack of efficient shipbuilding and ancillary industry is to be blamed for it. At a time when Global shipping giants are reeling under pressure, a case in point being Hanjin, the Shipping Giant from South Korea declaring bankruptcy, this could have been the ideal time for India’s shipping industry to grab a share of this market which could be a huge foreign exchange churner for the country. As ...

The Dollar Business Bureau India’s position has improved in Foreign Direct Investment (FDI) inflow list of UNCTAD. The country has ranked 10th on the list with 26 percent rise in FDI inflow as per the World Investment Report (WIR) 2016. “The position of India has improved in “FDI inflow list of UNCTAD”. The World Investment Report (WIR) 2016 has shown 26 percent rise in FDI inflow. Presently, India stays on 10th position whereas according to WIR-2015 the ranking for the year 2013 was 15th position,” Commerce & Industry Minister Nirmala Sitharaman, said in a written reply to the Lok Sabha on Monday.  In addition, the country is in the 3rd position in the list of best prospective host economies for the period 2016-18.  FDI trends ...

The Dollar Business Bureau    Foreign Direct Investment (FDI) flows to India nearly doubled to reach around $59 billion in 2015, thanks to several steps taken by the government to improve the investment climate in the country, a United Nations trade body has said. According to the report titled 'Global Investment Trends Monitor' released by the UNCTAD (United Nations Conference on Trade and Development), Asia remained the largest FDI recipient region in the world, accounting for one third of global FDI flows. “In 2015, FDI inflows to developing Asia rose by 15% to an estimated $548 billion, a new record,” the report said, adding, “FDI flows to India nearly doubled, reaching an estimated $59 billion. Measures taken by the government to improve ...

The Dollar Business Bureau The automotive industry has been identified as one of the key industries in which India has the potential of becoming a world leader, the UNCTAD (United Nations Conference on Trade and Development) said in its annual global investment report. The report said that inflow of FDI in India during the last financial year was $34 billion, up 22% from previous year and more than one third of the total inflow of $41 billion to the entire South Asia region. “The country accounted for the majority of greenfield investment projects announced by global automakers and first-tier parts suppliers in South Asia during 2013–2014, including 12 projects above $100 million,” UNCTAD said in a press statement after releasing the ...

Pull factor expected to trigger a race to simplicity among governments in trade facilitation Bidhu Bhushan Palo | @TheDollarBiz Despite progerss in the last two decades, India stands at 134 and 179 in World Bank's Ease of Doing Business and Starting a Business 2014 rankings respectively out of the total 189 countries monitored.   Simplicity is the most difficult thing to secure in this world; it is the last limit of experience and the last effort of genius. This quote by author George Sand (Amantine-Lucile-Aurore Dupin) dates back to the 19th century, but perhaps no one understands this better than the World Trade Organisation (WTO). After the Bali conference in 2013, WTO claimed that the Trade Facilitation Agreement (TFA) agreed in the Bali Package ...