The external affairs minister, speaking at a media summit organised by the TV9 Network, described the rise of India and China as "significant" in the global geopolitical scenario.
'China is struggling to get out of its property bubble.' 'Japan took 35 years to walk out of its equity bubble.' 'Bubbles can be difficult to forecast.'
Industry captains on Tuesday welcomed the Interim Budget saying it was consistent with the government's policy of achieving eight per cent growth target and creating a business-friendly environment in the country.
The challenge for politicians is that the continuous electoral cycle favours short-termism and the loan waiver type of policy, whereas prosperity requires hard decisions where commonly held perceptions must be disrupted and over-turned, says Dhiraj Nayyar.
India needs to revive corporate sector investment, push critical reforms and remove infrastructural bottlenecks to boost industrial growth in the country, says a government document.
Ushering in a big wave of reforms by implementing the four labour codes, setting up the national social security fund to cover over 38 crore informal sector workers and improving the ease of doing business will top the agenda of the labour ministry in the New Year. In a major move, the ministry launched the e-Shram portal on August 26, 2021 for creating a national database of over 38 crore informal sector workers. It will help the government to ensure last-mile delivery of benefits of various social security schemes to the informal-sector workers.
Prime Minister Narendra Modi on Saturday hard sold his government's reforms spanning from manufacturing to taxation to labour, saying they have changed the world perception about the country from 'why India' to 'why not India' and went on to quote record foreign investment during the pandemic as a testimony to that. Speaking at industry association Assocham's Foundation Week event, Modi also said agriculture reforms brought by his government six months back have started benefiting farmers. The reforms in the last six years have influenced in changing the sentiment of the industry from 'why India' to 'why not India' in investing.
'Any finality in such matters requires political views. We will review it closer to the full Budget.'
A notification of the revised Schedule M rules by the Ministry of Health and Family Welfare has elicited mixed responses from the pharma sector and industry observers. While the industry has welcomed the revision of rules, several analysts said that implementation and compliance can become a challenge for smaller pharmaceutical companies. The Schedule M of the Drugs and Cosmetics Rules specifies the good manufacturing practices (GMPs), which aim to ensure quality of drugs made in the country.
Deputy Governor Michael Patra warned about the spillover effects of food inflation.
The mandate will help further the development agenda in these states, with good governance and policy reforms taking centrestage
'I found it unbelievable that L&T said 45,000 jobs were waiting to be filled because of unavailability of suitable skillsets.' 'So, when the Opposition sweepingly says there are no jobs, I'm sorry... I'm not saying it's raining jobs, but there are jobs. The (skill) gap has to be bridged.'
"I have actually undertaken the maximum reforms but I have an enormous task ahead for myself."
The Federation of Indian Chambers of Commerce and Industry on Thursday said it was not averse to a change of guard at the Centre but wanted the new government to continue the reforms process and provide stability.
India needs to reform its financial market to expand the sources and availability of credit to meet the rising demand from the private sector, according to global rating agency Moody's Investors Service.
A collaborative approach can yield better results in reforming labour laws that can be implemented in the whole country, instead of different states following different norms in their own jurisdictions. That approach could also help the governments convince the trade unions to see merit in these reforms, says A K Bhattacharya.
Political scientist Vinay Sitapati explores the role played by the then Prime Minister P V Narasimha Rao in steering the reforms through in his new book Half Lion.
The Indian economy needs to generate an average of nearly 78.5 lakh jobs annually until 2030 in the non-farm sector to cater to the rising workforce, according to the Economic Survey for 2023-24. The Survey tabled in Parliament on Monday also laid emphasis on the private sector's role to create employment in the country saying "In more than one respect, the action lies with the private sector. "In terms of financial performance, the corporate sector has never had it so good."
Besides low interest rates, a reduction in active Covid cases and strong high-frequency macro data have lifted the sentiment of both corporate India and the stock markets.
Better stick to equity diversified funds, says Larisssa Fernand
Local businesses are fretting over reform setbacks.
Prime Minister Narendra Modi on Friday said the Agnipath scheme is an example of necessary reforms undertaken by the Army and accused the opposition of playing politics over the recruitment process aimed at keeping the average age in armed forces young.
India's information technology industry on Thursday expressed the hope that the new government at the Centre would continue to support the sunrise sector.
Industry bodies said the decisions will help attract much-needed capital, create jobs, encourage collaboration and benefit cash-starved small and medium enterprises.
GST will yield 'better value for money' for car buyers, increasing automobile industry demand, says Sandip Neogi.
Long-term funding was a requirement for infrastructure projects, and asset-liability mismatch in the banking system, impacts the access to finance for infrastructure projects. One of the key challenges would, however, be to get private sector back into investing.
Rajeev Chandrasekhar outlined his ideas to turn Thiruvananthapuram not only into a hub for higher education, but also a knowledge city, points out Ambassador T P Sreenivasan.
China's economy is in transition, with rising wage costs and massive overcapacity.
This is the lowest investment grade rating.
'If you want it to grow well and serve the true needs of the economy, it needs a lot of freedom and flexibility, which comes in terms of the reform objective set by the regulator.'
BJP workers depend on Annamalai's popularity to emerge victorious. He has has made 100 promises to be fulfilled in 500 days and assurances include cleaning up rivers, an international airport and food vans named after former Chief Minister K Kamaraj.
Industry experts on Friday called upon the new BJP-led NDA government to focus on attracting investments in key sectors, especially the infra space, to revive growth and investor confidence.
If the Modi government's approach to economic policy making is any indication, expectations of a sudden spurt in economic reforms after the assembly election results appear to be grossly misplaced.
It is increasingly clear that Rajasthan, under the leadership of Chief Minister Vasundhara Raje, will lead the country in terms of policy reform.
Prime Minister Narendra Modi Wednesday said the International Monetary Fund (IMF) sees India as a "bright spot" in the global economy and as per the World Bank, India is in a better position to deal with the global headwinds than many other countries. This is because of India's strong "macroeconomic fundamentals", Modi said while virtually addressing the inaugural function of the 7th edition of Invest Madhya Pradesh-Global Investors Summit in Indore. In the past eight years, the government has increased the speed of reforms and removed many hurdles in the way of investments.
'A rigid or overly broad interpretation could lead to a chilling effect on investments and growth in sectors traditionally driven by private initiative.' 'Entrepreneurs may fear that their assets could be arbitrarily appropriated by the State under the guise of serving the 'common good' without sufficient legal safeguards.' 'The judgment thus supports a more nuanced view, one that balances individual property rights with public welfare objectives.'
Urging India Inc to participate in the growth story, Sitharaman said they should participate in the divestment programme by becoming the first bidders.
The National Democratic Alliance won 64 seats.
