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The Dollar Business Bureau  External Affairs Minister Sushma Swaraj said on Tuesday that there is a need to enhance trade, investment and commerce with the extreme eastern parts of Russia or Russian Far East in order to achieve the $30 billion target, set for bilateral trade between the two countries, by 2025.  “The Russian Far East is one of the richest regions in the world and India is among the fastest growing large economies of the world. There is lot that can be done together. When other markets are closing, we need to find new ones and create virtuous cycles of investment. Investment is in the ultimate analysis an act of faith,” Sushma said, while speaking at the India-Russia Business Dialogue at the Eastern Economic Forum ...

The Dollar Business Bureau While delivering a speech at the World Economic Forum in Davos, Chinese President Xi Jinping expressed discontent over protectionism followed by other economies and highlighted China’s intention to have a greater global role amidst US trying to become a closed economy. Jinping also took note of “America first” policies of Donald Trump and said that it is necessary for countries to have free trade and they should not be plainly abided by national interests. It was in the backdrop of Trump’s remarks on China during his election campaign that Jinping took to expressing his concerns about the trade scenario with respect to the US. The President-elect had said that China needed to be dealt with more strictly on matters related to trade ...

The Dollar Business Bureau Chancellor of Germany, Angela Merkel, will not attend the World Economic Forum (WEF) to be held in Davos, a meeting which is likely to be dominated by discussions over the forthcoming presidency of Donald Trump and rising anger of public with elites and globalisation. Since becoming the Chancellor of Germany in 2005, Merkel has been regularly attending the annual meeting of global political leaders, celebrities and CEOs. “She had decided not to participate for a second consecutive year,” her spokesman told Reuters. This year the conference will be scheduled from January 17-20 under the ‘Responsive and Responsible Leadership’ banner.The inauguration of Trump coincides with the final day of the conference. “It's true that a Davos trip was being considered, but we never ...

Sheela MamidennaIndia's top leadership attended the India Economic Summit 2016 on 6-7 October 2016 in New Delhi, where a number of key discussions were held.. Of high interest were the sessions on India's Fourth Industrial Revolution and its dividends, and key debates on how PM Modi's policy reforms have helped revitalized the world's fastest growing large economy. Anuj Puri, a veteran Indian real estate thought leader and industry influencer, is also a keen observer and analyst of macro and micro- economic dynamics and trends that impact global and India-specific. His comments on Day 1 of the Summit: “I attended the World Economic Forum’s India Economic Summit with my eyes trained on discussions by high-level leaders from business, government, civil society and ...

The Dollar Business Bureau India has climbed 16 places to the 39th rank on the Global Competitiveness Index prepared by the World Economic Forum as improved business sophistication and goods market efficiency pushed its ranking higher. Switzerland for the eighth straight time, topped the list,  as the most competitive economy while Singapore and US ranked at the second and third positions, respectively. The jump of 16 places for India from last year’s 55th place is the highest for any economy this year. India is also the second-most competitive among BRICS nations behind neighbouring China, which is ranked at the 28th position. On the index, India has a score of 4.52 while that of Switzerland is 5.81. Netherlands is at the fourth spot, followed by ...

Source:  PTI    Confident of stronger bilateral and trade ties with India, Switzerland has said its cooperation on tax matters in terms of sharing information on suspected black money cases would continue at “a good level”. It has also invited Prime Minister Narendra Modi on a state visit to bolster relationship between the two countries, Swiss Finance Minister Ueli Maurer told PTI in an interview in Davos. Maurer, who on Thursday night met Finance Minister Arun Jaitley on the sidelines of the World Economic Forum Annual Meeting, said Switzerland is also keen to expand the relationship between industries of the two countries. Asked whether there could be greater cooperation on information exchange in tax matters, he said: “We have already agreed on ...

Source: PTI In the coming years, India is positioned much more favourably than China in terms of growth, the World Economic Forum has said though it observed that it is not entirely smooth sailing just yet. “There is now a consensus among analysts that there are only a few bright spots in the global economy, and India is one of them,” Viraj Mehta, head of India and South Asia for World Economic Forum, said in an op-ed on its website.[sociallocker] Based on pure fundamentals, India's outlook is promising; the art is in navigating the inevitable social, political and cultural complexities of the world's largest democracy, he wrote. “From a macroeconomic perspective, India is positioned much more favourably for the future, even ...

Source: PTI The Indian government in the next few days will come out with a list of exemptions that would go as part of the plan to gradually reduce corporate tax to 25%, the first tranche of which will be announced in the Budget in February, Finance Minister Arun Jaitley said on Wednesday. The Minister also said the government has been able to resolve a host of tax issues and expressed confidence that the Goods and Services Tax (GST) would be rolled out soon. Participating in an interactive session at the 'National Strategy Day in India' organised by the World Economic Forum (WEF) and the Confederation of Indian Industry (CII), Jaitley said the signs of growth are visible and promised to ...