JULY 2018-ECONOMY NEWS |
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Karnataka sees 300% jump in FDI inflows
Karnataka registered the biggest increase in Foreign Direct Investment (FDI) in 2017, as inflows from overseas jumped 300% in the 12 months ended March 2018.
India drops 3 ranks in FDI Confidence Index
India in 2018 has fallen out of top 10 destinations for FDI in terms of its attractiveness, according to an AT Kearney report.
India ranks 11 in the 2018 AT Kearney FDI Confidence Index, down from 8 in 2017 and 9 in 2016.
India fastest growing economy in Asia
Led by India, South Asia will continue to be the fastest growing economic area despite new trade tensions in Asia and Pacific region, Asian Development Bank (ADB) said in a new report.
India’s GDP growth forecast to 7.3%
The International Monetary Fund (IMF) has cut India’s GDP growth forecast by 10 basis points to 7.3% in the year 2019 and by 30 basis points to 7.5% in 2020, as the international body expects the central bank to tighten the monetary policy faster.
Indian digital economy
According to Economic Affairs Secretary Subhash Chandra Garg, India’s digital economy is expected to touch a $1 trillion mark by 2022.
Australia releases India economic strategy
The Australian govt has released an India Economic strategy report recommending to lift India into its top three export markets.
The strategy prioritizes economic and trade opportunities in India covering 10 sectors such as health, energy, infrastructure etc.
India becomes world’s 6th largest economy
India has become the world’s sixth-biggest economy, pushing France into seventh place, according to updated World Bank figures for 2017.
India’s gross domestic product (GDP) amounted to $2.597 trillion at the end of 2017, against $2.582 trillion for France.
Rupee among top 10 EM currencies
The rupee has been ranked as one of the 10 best-performing currencies, beating rivals like Real and Rand ever since the NDA government came into power in May 2014.
Although all emerging market currencies have lost value to the dollar, rupee’s slide is relatively controlled compared with peers.
UN Member states approve USD 6.69 billion
The UN Member states have approved a 6.69 billion US Dollar budget for 13 peacekeeping operations for the year 2018-19.
It is the second year in a row, the committee has made significant cuts to the overall peacekeeping budget.
Indian economy to touch $5 trillion by 2025
President Ram Nath Kovind said the Indian economy is set for a surge in the next decade with the Gross Domestic Product (GDP) size doubling to 5 trillion US dollars probably by 2025.
India’s manufacturing growth jumps to six-month high
According to Nikkei Manufacturing Purchasing Managers’ Index (PMI), compiled by IHS Markit, India’s manufacturing growth jumps to six-month high in June 2018.
Manufacturing PMI rose to 53.1 in June 2018 from 51.2 in May 2018, the highest since December 2017.
FDI growth hits 5-year low in 2017-18
Foreign direct investment in India seems to be petering out with the inflows growth rate recording a five-year low of 3% at USD 44.85 billion in 2017-18.
Foreign inflows in the country grew by 8.67% in 2016-17, 29% in 2015-16 and 27% in 2014-15.
Rupee falls to all-time low of 69.09 against US dollar
Crude oil prices were at their highest at USD 77 a barrel, the highest since 2014 as the oil inventories of the United States witnessed their biggest fall in over two years and its exports touched an all-time record.
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