India most likely to be the favoured destination for FDI inflows, UNCTAD Report
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 ...
Indias exporters could face challenges with continued appreciation of the rupee, Ajay Sahai
The Dollar Business The industry body FIEO forecast challenges for the exporters if the rupee continued appreciating in the future. Global trade is expected to grow at 2.4% in 2017, and there is likelihood of extreme instability in currencies. Though the rupee has gained against the dollar, and since competing currencies of other countries could depreciate further, rupee’s appreciation could hurt India’s competitiveness in its labour intensive business units especially sectors such as agro-products industries, handloom, leather, textiles and marine products. The government should support these sectors based on their forex returns so that those companies handling large imports, which will be benefitted with the appreciation are provided less support than those having little or no support. Speaking at a press meet ...
Airfares to be revised on quarterly basis, under UDAN
The Dollar Business Bureau Airfares and subsidy by the government to airlines under UDAN scheme will be reviewed on quarterly basis depending on the inflation. The UDAN (Ude Desh ka Aam Naagrik) scheme, which seeks to connect under-served and un-served airports, provides for a limit on prices of air tickets and viability gap funding (VGF) for the airlines. The Ministry of Civil Aviation has said that VGF and caps on the prices of air tickets under the UDAN scheme would be revised every three months. The airfares would be associated with inflation, while VGF would be considered on the basis of inflation, aviation turbine fuel cost and dollar-rupee exchange rates. The first flight, under the UDAN scheme, took off from Shimla to New Delhi, last month. “Both airfare and ...
Israel's Dan Hotels to come up in Bengaluru in July
PTI Israel's leading hotel chain, Dan Hotels, is set to venture into India by opening its property in Bengaluru in July, its first overseas facility outside the Middle East. "If all goes well and regulatory requirements are met quickly, the hotel will be operational in July," a senior executive at Dan told PTI. The 230-room luxury hotel is coming up close to Bengaluru's high-tech park and will have easy access to it. "We chose Bengaluru because it presents us with a good opportunity given that so many Israeli tech companies have a presence in the city," the official said, adding that the hotel chain would look to explore further opportunities in other Indian cities in the future. ...
China's first large passenger plane makes maiden flight
PTI China's first large homemade passenger jet, touted as a competitor to Boeing and Airbus, made its maiden flight today, heralding the Communist giant's entry into the highly-competitive global aviation sector. The 158-seater C919 aircraft took to the skies from Shanghai Pudong International Airport in eastern China and made the country the fourth jumbo jet producer after the US, Europe and Russia, the state media reported. The 80-minute flight was greeted with applause by more than 1,000 spectators on the tarmac, including Chinese Vice Premier Ma Kai and Shanghai Party chief Han Zheng. The twin-engine plane departed with five crew members on board but without any passengers. "The maiden flight was exciting," said Wu Guanghui, C919's chief ...
Economy to grow over 3-fold to $7.25 trn by 2030: Niti
PTI The Indian economy will see an over three-fold expansion at $7.25 trillion by 2030 and clock an average growth rate of 8% over the next 15 years, Niti Aayog vice chairman Arvind Panagariya said on Sunday. In a presentation made at its Governing Council meeting -- chaired by Prime Minister Narendra Modi and attended by 28 state chief ministers -- here on Sunday, the government think-tank projected the size of the Indian economy. "Our base GDP is large. If we grow at an 8% average rate for the next 15 years, our GDP will be Rs 469 lakh crore by 2030 (around USD 7.25 trillion)," Panagariya told reporters. The country's GDP stood at around $2.11 trillion in 2015-16, he said. He was briefing ...
The week that was: oil, sugar and core sector growth
By Abin Daya It is very rare that you will find a month in which all the 8 core sector industries have had positive growth. No, it did not happen in Feb 2017; but it happened a year back – in Feb 2016! Before that it happened in 2010 – that too, three months in a row! In the case of Feb 2016, what made the month even more special was that 4 out of 8 core sector industries grew in double digits! Understandably, when something like that happens, you expect a significantly high rate of growth for the sector. Core sector grew at 9.4% in Feb 2016. Compare that with the core sector performance a year later, in Feb 2017. Such a ...
