INDIA GLOBAL DESTINATIONS
India a very attractive destination for fixed income investors: Vikas Goel
So, obviously, we are still underrepresented. So, compared to, say, a similar economy like Indonesia, etc., we will go from 2.5% to about 4% I think after the inclusion which is fairly-fairly insignificant even if we compare it to our equity markets where foreign investment is much-much higher as a proportion of total investment.
This European country will be the world's most visited destination by 2040
The tourism industry is poised for significant changes by 2040, with Spain projected to surpass France as the world's top destination. A study by Google and Deloitte forecasts emerging middle-class travelers from markets like China and India will boost Spain's ascent, due to its cultural richness, landscape diversity, and tourism investment.
Bon Voyage! Airlines give wings to your holiday plans
Indian carriers like MakeMyTrip, IndiGo, and Cleartrip have added direct flights to various destinations, leading to a significant increase in outbound tourist numbers from India.
Global supply chain shift: Has India finally arrived?
Global supply lines are shifting for more resilience. Geopolitical developments put India at an advantage. Will demographic dividend finally create value for India?
Globally renowned tourist spots in India and what to do there
This white marble mausoleum needs no introduction. Built by Mughal Emperor Shah Jahan in memory of his third wife Mumtaz Mahal, the Taj Mahal is widely recognised as "the jewel of Muslim art in India and one of the universally admired masterpieces of the world's heritage" by UNESCO. It is one of the Seven Wonders of the World. Taj Mahal's intricate details, symmetrical design and breathtaking beauty leave every visitor awestruck. A sunrise or sunset visit is more beautiful as the changing light casts a magical glow on the white marble.
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Winning design: Nokia mulls shifting big chunk of global design capacity to India
Nokia is strategically considering shifting its design capacity to India, particularly focusing on telecom network infrastructure equipment in Chennai and expanding manufacturing of optical line terminals in Sriperumbudur, emphasizing the importance of MIMO technology and leveraging partnerships with Foxconn for production.
India drops seven notches in global FDI ranking, inflows down 43% in 2023
Global FDI fell 2% to $1.3 trillion in 2023 amid an economic slowdown and rising geopolitical tensions. FDI flows to developing countries dropped 7% to $867 billion. Tight financing conditions led to a 26% fall in international project finance deals, critical for infrastructure investment. “Among the top 20 host economies, the largest absolute drops were registered in France, Australia, China, the US and India, in that order,” it said.
India's exports grew 1.1%, but trade momentum to continue: CRISIL
India's merchandise exports rose by 9.1% to USD 38.1 billion in May compared to last year, with a modest 1.1% increase from April, driven by both oil and non-oil sectors. Imports surged by 7.7% to USD 61.2 billion, mainly due to oil and core imports, widening the trade deficit to USD 23.8 billion.
How India's new brain power adds to its economic brawn
India is transitioning from being the telemarketing voice of MNCs to their intellectual hub with the rise of GCCs. These fully owned and integrated hubs are driving growth, innovation, and value creation by leveraging India's talent pool. With a projected doubling of GDP share by 2030, GCCs are transforming India's economy and IT landscape, attracting global companies seeking tech talent and cost efficiency.
Global demand revival: How is India poised?
As the global demand sees some revival, India must get its act together to make the most out of it.
Will new FM support global effort for 'billionaire tax': Congress asks ahead of swearing-in
Congress questions if India's new finance minister will support the global 'billionaire tax' effort and if the prime minister will side with common people or billionaires ahead of the swearing-in ceremony.
Modi premium for Indian stocks gets a hard look after elections
With the leader now navigating coalition politics after a weaker-than-expected mandate in this week’s national election, the so-called Modi premium is under scrutiny. Investors are looking for proof that Modi can continue his reforms with the same vigor, while balancing the demands of alliance partners and avoiding populist measures to regain public support.
India emerges a top five destination for realty FDI
India ranked among the top five global destinations for cross-border capital in land and development site investments in the March quarter, with foreign investors accounting for about 55% of the inflows, according to real estate services firm Colliers. Significantly, 73% of new foreign investments targeted ready assets, as reported in Colliers' latest Asia Pacific Global Capital Flows report.
More women employees break free from 9-5 cycle, hustle for gig work
The number of female professionals opting for freelance roles surged, with a 300% increase in female consultants in India in FY24 over FY22, as per data from Flexing It shared exclusively with ET. In FY24, global organizations increasingly looked to India for high-quality talent at lower costs, taking advantage of the country's robust post-pandemic remote work practices.
New govt to inherit strong economy, focus on making India developed nation by 2047
India's record-breaking economic growth rate and strong tax revenues provide a foundation for future reforms aimed at transforming the country into a developed nation by 2047. The new government must address challenges such as unemployment and rural distress, while also focusing on controlling inflation. Despite potential obstacles, experts expect continued infrastructure-led growth, investor-friendly policies, and reforms to maintain India's economic momentum and attract investment.
'We expect rupee to be the best-performing Asian currency in 2024'
India remains a top choice for global investors despite recent outflows, with a positive outlook for the Indian rupee and potential Fed rate cuts impacting the US dollar's performance.
Radisson Hotel Group to open a hotel every 20 days in India this year, says top exec
"People are visiting religious destinations far more than pre Covid times. We were the first to launch a branded hotel in Ayodhya before the Ram temple inauguration. The hotel clocked an average daily rate of Rs 1.15 lakh in the first month. It is still sold out on most days and the average daily rate is Rs 30,000 now,” said Nikhil Sharma, the chain’s new managing director.
India's coffee exports rise 12% to $1.28 billion in 2023-24
India's coffee exports increased by 12.22% to USD 1.28 billion in 2023-24 due to higher demand for Robusta coffee in global markets. The country, Asia's third-largest coffee producer, exports Arabica and Robusta varieties. Coffee shipments increased by 13.35% to 1,25,631 tonnes during January-March 2023-24.
South Korea could be the next big study abroad destination
South Korea's popularity in India is growing, driven by its diverse cultural appeal and increasing interest from Indian students. Scholarships from the South Korean government and universities attract international students. The country is becoming a favorable destination for businesses due to regulatory advantages.
India benefiting from more investments coming into the country as less foreign investment going into China: UN expert
The UN highlighted India's 'very robust' economic growth, positioning it as an alternative investment destination for western companies. With less foreign investment going into China, India is attracting more western investments, solidifying its position as a key investment source.
More Indians are travelling than ever before: Mastercard Economics Institute on travel in 2024
In 2024, more Indians are traveling internationally than ever before, driven by a growing middle class and expanded route capacity, according to the Mastercard Economics Institute's report. Domestic air travel surged 21% above 2019 levels, while international travel rose by 4%. Top destinations for Indian travelers this summer include Amsterdam, Singapore, London, Frankfurt, and Melbourne. The report highlights a shift in Indian travel habits towards exploration and discovery, with increased visits to Japan, Vietnam, and the United States.
UPI’s rural push; India as software IPO destination
Happy Wednesday! The country’s central bank wants more rural users to log into Unified Payments Interface (UPI). This and more in today’s ETtech Morning Dispatch.
India Ahoy! India as a software IPO destination
While the likes of FirstCry and CureFit will continue to go public in India, it’s software firms with global customer bases that are now set to take centerstage.
UAE announces visa support for Indians hosting destination weddings in Abu Dhabi
Abu Dhabi aims to become a top wedding destination with ADCEB supporting Indian nationals hosting weddings in the Emirate. This aligns with the tourism strategy for 2030, targeting increased visitors and boosting the sector's contribution to the GDP, focusing on India as a key market for destination weddings.
Indian exports up in 115 nations out of 238 destinations in 2023-24
Despite global economic uncertainties, India's exports increased to 115 countries out of 238 destinations in 2023-24. The merchandise exports slightly declined by 3% to USD 437.1 billion, while services exports rose to USD 341.1 billion. Overall exports (goods and services) reached USD 778.2 billion. India's rank in world merchandise exporters improved from 19th to 17th, with a marginal increase in share from 1.70% in 2014 to 1.82% in 2023.
Centre aims to make India attractive destination for manufacturing, services: Nirmala Sitharaman
Union Finance Minister Nirmala Sitharaman emphasized the government's focus on policies to make India a manufacturing and investment hub, aiming not only for the domestic market but also for exports. Speaking on Elon Musk's postponed visit, Sitharaman highlighted the government's efforts to attract big companies. She also discussed inflation, employment, and the rule for larger companies to pay MSMEs within 45 days. Gujarat's role in attracting FDI and its readiness for semiconductor manufacturing were also highlighted.
India set to become global semiconductor manufacturing destination: Industry
The Union Cabinet's approval of three semiconductor manufacturing units, with an investment of Rs 1.26 lakh crore, is a significant step towards achieving self-sufficiency and making India a global chip making destination. It will benefit various sectors, advance the 'Digital India' mission, and pave the way for more semiconductor fabs and OSAT units, as well as semiconductor product design companies.
India continues to be preferred destination for foreign direct investment: Piyush Goyal
Commerce and Industry Minister Piyush Goyal highlighted India's resilience as a preferred destination for Foreign Direct Investment (FDI) despite global interest rate hikes. He noted that while interest rates surged globally, leading to capital flow back into developed nations, India's robust demand and opportunities prevented a significant downturn compared to other developing economies.
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