India must take urgent measures like issuing sovereign guaranteed bonds and exempting FIIs from short term capital gains tax to stem the rupee's slide, India Inc said.
Indian investors wanting to participate in the economic growth of countries like Brazil Russia, China and South Africa can now do so with ease.
The bank said in its 'Global Development Horizons 2011 - Multipolarity: The New Global Economy' report that Brazil, China, India, Indonesia, South Korea and Russia will help drive growth in lower income countries through cross-border commercial and financial transactions. It said the international monetary system will no longer be dominated by a single currency.
With automation taking place at a much faster pace across industries especially in the tech space, domestic software firms that employee over 16 million are set to slash headcounts by a massive 3 million by 2022, which will help them save a whopping $100 billion mostly in salaries annually, says a report. The domestic IT sector employs around 16 million, of them around 9 million are employed in low-skilled services and BPO roles, according to Nasscom. Of these 9 million low-skilled services and BPO roles, 30 per cent or around 3 million will be lost by 2022, principally driven by the impact of robot process automation or RPA. Roughly 0.7 million roles are expected to be replaced by RPA alone and the rest due to other technological upgrades and upskilling by the domestic IT players, while it the RPA will have the worst impact in the US with a loss of almost 1 million jobs, according to a Bank of America report on Wednesday.
Summary of sports events and persons who made news on Saturday
Privatisation-bound Bharat Petroleum Corporation (BPCL) may sell a part of its stake in Petronet LNG and Indraprastha Gas (IGL) to shed its promoter status to obviate the need for its new owner to make open offers for the two gas companies, sources said. BPCL holds 12.5 per cent of shareholding in India's largest liquefied natural gas importer, Petronet, and a 22.5 per cent stake in city gas retailer, IGL. It is a promoter of both the listed companies and holds board positions. As per the legal position evaluated by Department of Investment and Public Asset Management (DIPAM) - the department running the process for sale of government's entire 52.98 per cent stake in BPCL - the acquirer of BPCL will have to make an open offer to the minority shareholders of Petronet and IGL for acquisition of 26 per cent shares, three sources with knowledge of the matter said.
Since 2016, when India was officially recognised in US law as a 'major defence partner', Washington has purposefully upgraded the defence relationship.
Along with HAL, Boeing intends to involve the Mahindra Group in building Super Hornets in India.
About railways sector, the Survey said that it is facing stiff competition from other modes of transportation and the government is initiating various transformative measures to keep railways on track.
The Congress and AAP said the logo looks like the party symbol of the Bharatiya Janata Party.
The number of active cases stands at 2,20,114 ,while 3,47,978 people have recovered, and one patient has migrated, according to the updated data at 8 am.
As the central bank continues to increase forex reserves by running down the forward book which totalled $42 billion as of end-July, signalling its strong resolve to build a bigger reserve cushion to aid its expansionary, unorthodox monetary policy, the reserves are set to top the $655-billion-mark by March, according to a report. The forex kitty declined by $2.10 billion to $619.36 billion for the week to August 13 due to a fall in the core currency assets and gold, showed the latest RBI data. The reserves had risen to a lifetime high of $621.46 billion in the previous reporting week ending August 6.
Many giving double-digit returns, with India up less than one per cent; even so, it has done much better than other emerging markets.
Prime Minister Narendra Modi hailed as "historic" the jump.
Premium valuations and lack of big triggers will weigh on Indian equity markets in the near term, believes Mahesh Nandurkar, India Strategist, CLSA.
The growth of these countries in one way or the other would boost up American economy, he told reporters at a White House news conference.
Operating margins (Ebitda) for the Indian television sector have fallen from 25 per cent to 13 per cent over the past four years, says a report released by Media Partners Asia.
India is ranked best among the BRICS nations, out of which South Africa is 17th, Brazil 35th and Russia at 100. China is much lower at 132nd place.
Growth in India is expected to remain strong and stable in 2015
Did you know that the United States spends more on its military than rest of the top 15 nations with the highest military expenditure?
India ranks low in the index at 84 with a score of 3.81.
Christine Lagarde said the prospect of rising interest rates in the US and China's slowdown are contributing to uncertainty and higher market volatility.
The Drifting Canvas, a multimedia art exposition that is coming to India for the first time with digitised and animated works of 19th and 20th century artists, is offering a unique, immersive experience of art.
The WTO dispute panel had its last hearing in early May.
The pain of not living up to the favourites tag in the previous ties still rankles the Spanish Davis Cup team as Rafael Nadal said "special things" can happen for lower-ranked Indian players in the World Group play-off tie.
As the death toll in the country from coronavirus jumped by a record 445 to 13,699, the Centre maintained that the number of infections per lakh population was among the lowest in the world. The new cases surged by over 10,000 for the 11th day in a row and rose by 14,821 to take the total to 4,25,282, according to health ministry data.
The authoritative Congressional Research Service, which provides data and analysis to the US Congress, finds that India no longer features in the world's three biggest arms importers.
India ranks low at 105th on human capital index, Finland tops
This year's survey reveals 14 cities sliding down the rankings and 16 moving up.
About 81 per cent of employees in India have confidence in their organisations, reveals a recent research conducted by the Kenexa Research Institute (KRI).
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to 2.55 billion Swiss francs (over Rs 20,700 crore) in 2020 on a sharp surge in holdings via securities and similar instruments, though customer deposits fell, annual data from Switzerland's central bank showed on Thursday. The increase in aggregate funds of Indian clients with Swiss banks, from 899 million Swiss francs (Rs 6,625 crore) at the end of 2019, reverses a two-year declining trend and has taken the figure to the highest level in 13 years. It stood at a record high of nearly 6.5 billion Swiss francs in 2006, after which it has been mostly on a downward path, except for a few years including in 2011, 2013 and 2017, as per the Swiss National Bank (SNB) data.
'India-US relations seem to have soured when the US expected India to not only balance China in the Asia-Pacific, but also make concessions to Pakistan as a price for US technological help,' says Colonel Anil A Athale (retd).
This is a national leadership gone so wrong that India's most powerful prime minister in four decades has personally taken charge of medical oxygen shortages, observes Shekhar Gupta.
