Economy & Trade
Modi Visit to the US
Narendra Modi landed in Washington D.C. on Sunday, starting off a low-key three-day visit. This is the Indian prime minister’s fourth visit to the US, and first since President Trump’s inauguration.
At the top of Modi’s agenda are India’s concerns over the issuance of H1-B work visas, job creation and American investments, as well as securing and stabilizing a working relationship with the new American President.
India to be a favored FDI destination in 2017: UNCTAD report
The ‘World Investment Report 2017’ published by the United Nations Conference on Trade and Development (UNCTAD) predicts that India will continue to be an attractive investment destination despite stagnant trends. Key to the optimistic outlook is the recent government approval for cross-border mergers and acquisitions in India, opening up the domestic market to greater foreign direct investment (FDI).
By Bradley Dunseith
Between June and August 2016, Chinese firms invested US$2.3 billion into India. To put this in context, mainland China FDI into India totalled US$1.2 billion between April 2000 and September 2015. But Chinese FDI into India was proliferating even before this recent surge.
Chinese investors have been targeting India’s digital sector – a break from China’s FDI trajectories in other Asian markets. In most of Asia, China’s investment focuses on infrastructure, extractive, and manufacturing industries; in India, Chinese investors are strengthening India’s digital ecosystem.
What sparked China’s recent interest in India after over a decade of neglect?
Indian Films Earn Record Revenues in Overseas Markets
Indian films are raking in record revenues in overseas markets, especially in recent years, as big-budget movies utilize more resources to invest in local distribution networks and marketing campaigns. For instance, the Aamir Khan Bollywood starrer Dangal made US$114.18 million (Rs 736.32 crore) in China, while the Telegu film Baahubali 2 earned US$18.9 million in the US box office.
By Koushan Das
Earlier this year, the federal government approved India’s accession to the Convention on International Transport of Goods under cover of TIR Carnets (TIR Convention). This is an international transit system to facilitate seamless movement of goods amongst its member states.
Being party to this convention will enhance India’s connectivity with Southeast Asia and the Eurasian continent, and could make India a major transit and trading hub between the two regions.
By Vasundhara Rastogi
Kochi (formerly Cochin), is a port city located in the southwest coastal state of Kerala, in India. With an estimated population of 602,046 and an extended metropolitan population of about 2.1 million, Kochi is the largest cosmopolitan metropolis in Kerala.
The city is a cluster of islands and towns, which include Ernakulam, Mattencheri, Fort Cochin, Willingdon Island, Vypin Island, and Gundu Island. The urban agglomeration includes the localities of Trikkakara, Eloor, Kalamassert, and Trippunithura.
India second most attractive renewables market
A recent Ernst & Young (EY) report showcases India’s move up to the second spot in the ‘Renewable energy country attractiveness index’ 2017 from the third position held in the last two years. China tops the index and the US comes third.
The new standings reflect changing priorities in India and the US. While India is invested in improving its renewable energy capabilities, the US has rolled back its stand on climate change and revived its focus on the domestic coal industry.
Xiaomi second largest smartphone brand in India, shipments quadruple in Q1
Smartphone manufacturer Xiaomi leads the Chinese juggernaut in the Indian mobile phone market after emerging as the second largest retailer. They are followed by compatriots Vivo, Lenovo, and Oppo. Korean manufacturer Samsung retains the top spot, albeit with a more or less stagnant market share.
Xiaomi’s performance is particularly dynamic: it shipped 3.8 million handsets in the first quarter of the 2017 calendar year, a jump up from three million in the previous quarter. Xiaomi’s market share is 14 percent currently; it was 3 percent in the first quarter of 2016.