Economy & Trade

Morgan Stanley Raises India’s Growth Forecast

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Oct. 16 – Morgan Stanley predicts higher growth for India next year to 6.4 percent from 5.8 percent based on the strength of positive industrial output and policy rates. “However, we believe a rate hike would be unlikely to derail the recovery, as we see a potential increase as a move towards normalization rather than […]

Foreign Investment to India Passes US$100 Billion Mark

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Oct. 15 – India’s Department of Industrial Policy and Promotion says that foreign direct investment (FDI) to India from 2000 until July this year has already passed the US$100 billion mark. In total, FDI inflows during that period reached US$100.33 billion. In the first four months of this year alone FDI amounted to US$10.49 billion […]

India’s Finance Minister Asked to Explain Retrospective Tax Demands

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Oct. 14 – The ambassadors of the United States, European Union, Britain, New Zealand, Australia, Holland and Spain have written to Indian Finance Minister Pranab Mukherjee to explain what they refer to as the “unpredictability” in India’s tax regime and described recent events surrounding Vodafone’s acquisition of Hutchisons’ stake in Hutch-Essar as “unquantifiable risk in […]

Foreign Experts Brought in to Kick-Start Delhi Games Progress

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By Chris Devonshire-Ellis MUMBAI, Oct. 14 – Following an inspection of the sites intended for the Delhi Commonwealth Games led by Commonwealth Games Federation (CGF) President Mike Fennell, the Delhi Games Organizing Committee (DGOC) has the ignominy of having an Independent Technical Committee, made up of foreign experts oversee all aspects of DGOC preparations. The […]

Salaries to Rise by 8 Percent As Employee Demand Increases

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Oct. 13 – India’s salary rates are expected to increase at an average rate of eight percent this year and with as much as 50 percent of companies saying that they plan to recruit in the next three months, according to a survey conducted by global HR consultancy Mercer. The Mercer India Monitor quarterly survey […]

Tata Motors Reaches US$600 Million Target in Less Than An Hour

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Oct. 12 – Top Indian auto manufacturer, Tata Motors, decision to offer global depository issues and convertible bonds to help pay for debt incurred from purchasing Jaguar and Land Rover was met with enthusiasm when its initial fund-raising target of US$600 million was reached in less than an hour. Due to the  positive response, the […]

Audi Predicts India will be Fifth-Largest Market by 2015

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Oct. 9 – German luxury car maker Audi’s Managing Director for India, Benoit Tiers, predicts that India will be the fifth-largest market by 2015 and that company sales will grow by 80 percent. In an interview with The Economic Times, Tiers downplayed his growth projections by saying the company wants to be profitable rather than […]

GE to Combine Healthcare Units in India Under Joint Venture

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Oct. 9 – General Electric (GE) is stepping up efforts to develop its global healthcare business by combining all its healthcare units in India as well the rest of the Asian region under its Wipro GE Healthcare joint venture. The Hindu reports that the plans will consolidate the company’s business and manufacturing units GE Healthcare […]

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