Other Briefings
India Remains a Top Global Destination for Foreign Investment
India is still an attractive destination for foreign investment, and remains a top market for FDI globally, according to Ernst & Young’s attractiveness survey, “India 2014: Enabling the Prospects,” released last week. The survey of over 500 international business leaders painted an optimistic picture of an economy that has weakened in recent years.
India Reaffirms Japan as Key Economic and Political Partner
PM Singh praised recent joint economic and political efforts between India and Japan to strengthen security and economic stability in the region and reaffirmed the nations’ commitment to continued cooperation.
India Sets Textile Exports Target at US$60 Billion for 2014
Mr. KS Rao, India’s Union Textiles Minister, announced that the government has set the target for textile exports in the 2014-15 financial year at US$60 billion.
IMF Issues Favorable Growth Report in India
The International Monetary Fund has announced that it expects India will see a growth rate of 5.4 percent for 2014 and 6.4 percent for 2015. This is an increase over the 4.4 percent growth registered in 2013.
World Bank Predicts 6 Percent Growth in India for Fiscal Year 2014
The World Bank’s Global Economic Prospects report, released last week, projects India’s growth rate to be 6.2 percent for the fiscal year 2014. This is a vast improvement from India’s weak estimated 2013 growth rate of 4.8 percent. The dismal 2013 rate represents an 11-year low, slipping below even 2012’s rate of 5.0 percent.
India Proposes New National Offshore Wind Energy Agency
The Ministry of New and Renewable Energy (MNRE) announced plans this month to establish a National Offshore Wind Energy Agency, which will be tasked with exploring and promoting India’s vast potential for offshore wind energy production.
Unusual Answers for India’s FDI Pharma Policy
The Indian government has faced increasing pressure from opposing lobbies to provide clarity on issues affecting FDI in the pharma industry. The solution might lie in some unlikely places, like the public sector or public distribution mechanism.
India in Talks with Mauritius and Cyprus to Prevent Tax Base Erosion
India is currently revisiting its double tax avoidance agreements (DTAAs) with both Mauritius and Cyprus as it takes measures to protect its tax base. The two tax havens are India’s largest and seventh-largest sources of FDI inflows, respectively, together comprising almost 45 percent of India’s FDI in 2013 (around US$10 billion in the financial year ended March 2013).
