The country needs 100 million jobs in the formal sector in the next decade to take advantage of its demographic dividend. Also, it should get into the global supply chain to generate many of those by negotiating trade deals effectively, industry players and experts have said. "We need something like 100 million jobs in the next 10 years, which means that the non-agriculture sector has to generate 14 per cent job growth every year," said Aditya Ghosh, co-founder of Akasa Airlines, at the Global Economic Policy Summit organised by the CII.
The multilateral lending agency holds 3.9 crore (Rs 39 million) shares in Petronet LNG, which at today's trading price of Rs 114.85 is worth Rs 448 crore (Rs 4.48 billion).
Highlighting India Inc's drive for fresh investments, FICCI on Thursday called for the revival of development finance institutions by allowing agencies like IFC and ADB to play strategic roles in DFIs.
Multilateral lending agency Asian Development Bank said on Thursday it is likely to revise upwards by the September-end India's growth and inflation forecast, which is 8.2 per cent and 5 per cent respectively for the current fiscal.
The government will privately place bonds with the Reserve Bank of India to raise funds to repay some of its foreign debt ahead of schedule, a top central banker said on Thursday.
India offers a better chance than China to investors to pump money into non-performing assets restructuring as it has a better environment for recovery, according to consulting firm PricewaterhouseCoopers.
Foreign banks set the template in consumer banking in its infancy, but have almost vacated this booming space.
This will be External Affairs Minister K Natwar Singh's first visit to Pakistan after assuming office.
Asian Development Bank on Thursday pegged India's economic growth at 7.4 per cent for 2004 and said high growth is likely to be sustained in medium term.
The adverse impact of the rupee appreciation has gone beyond exports. The currency's climb is now affecting government infrastructure projects funded by multilateral lending agency such as the Asian Development Bank (ADB).
Asian Development Bank on Wednesday called India's target of eight per cent annual economic growth "ambitious".
The government of India has prepaid a portion of foreign currency loans of Asian Development Bank amounting to yen 123.11 billion (Rs 5,294.84 crore)
Pakistan wanted to be constitutionally communal, India wanted to be secular but is communalising itself. All three nations share a penal code, but they have amended their laws to enable the State to specifically target minorities, points out Aakar Patel.
Asian Development Bank has sanctioned $313.6 million for various railway projects in the country, while the World Bank has provided $463 million for an urban transport project.
The Union government has engaged the Asian Development Bank to provide technical assistance in implementing the new pension scheme for the unorganised sector.
The Asian Development Bank will give a $20-million technical assistance loan to India for carrying out reforms in the judicial system.
The government on Wednesday said it was planning to prepay over $2.9 billion costly foreign loans this fiscal, which would be funded through domestic market borrowing.
The government on Friday appointed noted economist Arvind Virmani as the new chief economic advisor in finance ministry.
This move plus aggressive border violations by China has prompted the Indian Army to deploy extra troops and fighter jets in the area as a counter measures.
The government plans to prepay Rs 5,188 crore (Rs 51.88 billion) worth of high cost debts of Asian Development Bank in the current fiscal, after having prepaid Rs 6,378 crore (Rs 63.78 billion) to the World Bank a few days back.
R H Patil was on Thursday appointed chairman of UTI Asset Management Company, the country's largest mutual fund.\n\n
India will receive $9.2 billion Asian Development Bank loan during 2008-10 for 31 projects in sectors like energy, transport and financial services, Finance Minister P Chidambaram said on Wednesday.
Asian Development Bank on Monday said India needs to increase investment rate and improve productivity on a massive scale if its economy was to expand beyond 7-8 per cent.
India's economic growth is likely to slow down to 6.5 per cent this fiscal and to 6 per cent in the subsequent year mainly due to high oil prices, which reactivated inflation, the Asian Development Bank said on Wednesday.
India on Monday said it will meet Pakistan next week to resolve issues, such as transit fee, impeding progress on the over $7 billion Iran-Pakistan-India gas pipeline project, even as it gets formally inducted in a rival line from Turkmenistan.
After GAIL, Indian Oil Corp has expressed interest in buying out Asian Development Bank's 5.2 per cent stake in Petronet LNG Ltd, company chairman Sarthak Behuria said. However, if the state-run promoters of Petronet are not allowed to raise stake in the company for fear of it becoming a public sector unit, Behuria suggested selling ADB's shareholding to the public.
Jain was the architect of Deutsche's investment banking business and placed one of his former trading heads, Alan Cloete, in Hong Kong as co-CEO for Asia Pacific in 2012.
Nepal's decision to ban the import of non-essential items amid depleting forex reserves may hit Indian exports. The country's central bank - Nepal Rastra Bank - last week instructed commercial banks not to open letters of credit (LCs) for importing non-essential items. This is to prevent further decline of the country's foreign exchange reserves. However, it has not issued any formal communication yet.
The still lingering global financial turmoil could push as many as 21 million more people into extreme poverty in the Asia-Pacific region, a joint report by the United Nations and Asian Development Bank said.
'If you look at where inflation (headline and core) is today in India and where the rates are, there's clearly room to cut rates.'
The Asian Development Bank approved a $200 million loan to support fiscal reforms and social development in Kerala, its first aid to the southern Indian state, the multilateral lending agency said on Tuesday.
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