INDIAN REFORMS
J-K on verge of becoming success story among Indian states: LG Manoj Sinha
Lt Governor Manoj Sinha highlighted Jammu and Kashmir's potential as a key success story in India and a socio-economic global model. Meeting Eliska Zigova, Czech Republic's Ambassador to India, at Raj Bhawan, they discussed investment opportunities in sectors like industries, tourism, start-ups, handloom, handicrafts, food processing, agriculture, and allied areas. Sinha emphasized 'historic and transformative changes' under Prime Minister Narendra Modi's leadership, inviting Czech trade and business leaders to explore these opportunities.
Govt sets up task force to study impact of AI on future of work: Labour secretary Sumita Dawra
The government has formed a taskforce to examine the effects of artificial intelligence (AI) on the future of work, according to labour secretary Sumita Dawra during an industry interaction in Hyderabad on Friday. The announcement was made at an event organized by the Confederation of Indian Industry (CII) and the Employers’ Federation of India (EFI).
Budget will announce historic steps, present a ‘futuristic vision,’ says President Murmu
President Murmu said that today India alone contributes to 15% of the global growth and reiterated her government’s commitment to make India the third largest economy in the world. She sought the support of the Opposition to meet this goal, invoking the Vedas and said all sides should work together “with a common idea and goal”.
What Indian industry wants from Modi's budget after poll setback
The upcoming budget aims to boost consumption, support farmers, create jobs, and reform tax systems. It focuses on tax cuts, lifting export restrictions, job creation incentives, and simplifying tax regimes like capital gains and GST for a stronger economic outlook.
Centre's high-level panel on exam reforms to meet on Monday: Sources
Former AIIMS-Delhi director Randeep Guleria, University of Hyderabad Vice-Chancellor BJ Rao, professor emeritus in IIT-Madras' Department of Civil Engineering K Ramamurthy, People Strong co-founder and Karmayogi Bharat board member Pankaj Bansal, IIT-Delhi Dean of Student Affairs Aditya Mittal and Education Ministry Joint Secretary Govind Jaiswal are other members of the panel.
Budget 2024: What is Dividend Distribution Tax? Know How it will abolition impact the Indian economy?
In 2020-21, India's government abolished the Dividend Distribution Tax (DDT), shifting the tax burden on dividends from companies to shareholders directly. The move aimed to simplify taxation, enhance market appeal for Indian equities, stimulate domestic investment, and potentially attract more Foreign Direct Investment (FDI) into the country's economy.
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Modi 3.0 takes aim: Blueprint to make the Indian armed forces future ready
India faces growing security challenges from China and Pakistan, prompting calls for a robust and integrated defence strategy. This includes bolstering nuclear deterrence, enhancing military capabilities, and pushing for systemic reforms in defence production and organization. The new government must prioritize these measures to ensure national security and strategic autonomy in the coming years.
CII: Continuity in reforms will make India developed Nation
The Confederation of Indian Industry (CII) believes that continuity in policy reforms under Prime Minister Narendra Modi's leadership will drive India towards becoming a developed nation. The CII president, Sanjiv Puri, stated that with a strong growth rate of 8.2% for 2023-24, the new government can implement further reforms to capitalize on global opportunities and strengthen the Indian economy's fundamentals. The CII is eager to collaborate with the new government to accelerate the nation's development journey.
Indian exports: How Modi 3.0 can navigate the protectionist tides in advanced economies like US and EU
India has transitioned from a decade of single-party rule to a new era of coalition politics, causing concern among stock market investors about potential slowdowns in economic reforms. Rising protectionist measures from advanced economies like the US and EU pose challenges for Indian exporters, with stringent regulations on products ranging from chemicals to food items. The impact of these barriers could disproportionately restrict India's economic objectives and competitiveness, particularly in key sectors like textiles and apparel.
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.
Lok Sabha Results: Coalition govt is back. Will policy paralysis too strike again?
Over the past decade, Narendra Modi has propelled India's economy to become one of the fastest-growing globally, positioning it to soon rank as the world's third-largest. His emphasis on reforms and dynamic policies, exemplified by initiatives like Make in India, has bolstered manufacturing and infrastructure growth. However, the recent Lok Sabha election results, leading to a coalition government, raise concerns about potential challenges and policy paralysis ahead. Expert analyses suggest that while coalition governments have historically been effective in driving economic growth, they have struggled to control inflation.
Lok Sabha results googly may unsettle Indian companies unfamiliar with coalition pitch
Post-election, certain Indian businesses face uncertainty after years of stability under Modi's single-party majority. Concerns arise about decision-making and reforms as BJP's weaker mandate shifts dynamics. Industry veterans note silence from typically vocal business leaders, who now await potential changes in the new cabinet amid speculations about Modi's altered work style.
LS polls 2024: Candidates from 41 parties get elected this time, up from 36 in 2019
In the 2024 Lok Sabha elections, 41 political parties had candidates elected, up from 36 in 2019. National parties secured 346 seats (64%), state-recognized parties won 179 seats (33%), unrecognized parties clinched 11 seats, and independents won seven. Participation increased to 751 parties, a 104% rise since 2009.
Rupee falls most in over a year as vote count shows narrower win for Modi-led alliance
Traders said the Reserve Bank of India (RBI) likely stepped in to limit the rupee's decline. State-run banks were spotted offering dollars near 83.50 levels, likely on behalf of the RBI. The sales were intended to plug likely outflows instead of pushing the dollar-rupee pair lower, a foreign exchange trader at a large private bank said.
Modi’s election setback only a blip for some global stock funds
“The first thing I did was message my portfolio managers who invest in India to say if Nifty banks are down because of a lower-than-expected mandate for Modi, it’s a buying opportunity,” Sai said in an interview on Tuesday.
What’s fueling the shift in Indian investor behaviour?
India added $1 trillion to the stock market in less than six months, reaching a $5 trillion market cap. Retail investors, with a surge in Demat accounts, play a key role in enhancing market stability and resilience.
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.
Rupee falls most in over a year as vote count shows narrower win for Modi-led alliance
The Indian rupee slumped on Tuesday after vote counting trends signalled that Prime Minister Narendra Modi's Bharatiya Janata Party-led alliance would win a narrower majority than was expected, spurring a selloff in local equities.
Election results and stock markets: If history can predict the future
India awaits the Lok Sabha election results with anticipation, largely expecting a win for the Modi-led NDA alliance. Analysts foresee policy continuity and market stability if expectations materialize, but unexpected outcomes could trigger short-term market volatility. Regardless, experts suggest viewing any market dips as buying opportunities.
Will an empowered Modi bring back a big-bang reform?
If exit polls are accurate and Prime Minister Narendra Modi returns to power with a strong majority, major economic reforms are expected. This might include revisiting land acquisition laws to facilitate industrial growth. Land reforms are crucial for India's manufacturing ambitions. Digitisation of land records could streamline processes and accelerate development projects.
'Agnipath' scheme aimed at maintaining youthful profile of military: CDS Gen Chauhan
CDS Gen Anil Chauhan highlighted the importance of the 'Agnipath' scheme at INS Chilka, a premier training facility of the Indian Navy in Odisha, to maintain a youthful profile in the services.
Stage set for new government to press on next-generation reforms
India will continue to be the world’s fastest-growing economy and the Indian-corporate world has its hopes up as it expects the next government to continue on the reform path and steer the Indian economy towards high growth.
A likely Modi 3.0 might just give Indian economy what it wanted for so long
India's chances of soverign rating upgrade is likely high. Exit polls predict Narendra Modi's BJP-led NDA will secure a third term with a significant majority. The NDA is expected to surpass its 2019 tally, easing concerns about replicating previous success. This likely continuity boosts economic confidence, with S&P upgrading India's outlook to "positive" and fiscal indicators showing robust growth and reduced deficit.
We are poised to open a minimum of 25 hotels this year: Puneet Chhatwal, IHCL
I think as things are beginning to normalise, this global travel will also start coming back. And as of this October, we should see us getting close to the pre-COVID level. And it is only next year that India will cross the international arrival numbers that it had prior to COVID.
India well poised to benefit from great opportunities coming from hotels and hospitality sector: Puneet Chhatwal, IHCL
And if things keep going this way, and it is anybody's guess, I know that there is a new book coming out in the market which predicts India at 47, with more than 50 trillion economy and there are others that are predicting at 27 or 28.
India has potential to capture a large share of global defense market: Mark Matthews
I think there is scope for further expansion if the earnings grow and if the economy grows, then the earnings will grow. If the economy grows by let us say 6-7-8% per year, then I think it is reasonable to assume earnings grow by 12-13-14% per year and if you compound that a couple of years, then actually India is not expensive.
View: Your first 100 days to-do list, Gov
The upcoming government will have its work cut out for it as it steps into power following the conclusion of the 18th Lok Sabha polls. While the current administration has made strides in improving the business environment in India, there are key reforms that the new government must prioritize to fully capitalize on the country's growth potential.
"ISRO aims to explore human space flight activities, build space stations": Chairman Somnath
Indian Space Research Organisation (ISRO) Chairman Sreedhara Panicker Somanath on Sunday attended a programme at a school and said that the space agency aims to explore human space flight activities and build space stations.
Most states out with draft rules under new labour codes, about 3 cr job opportunities in 2022-23: Labour secretary
Labour secretary Sumita Dawra said the labor reforms have been put in place with an eye on ease of doing business, simplification, and reduction in compliance burden, decriminalization and seamless dispute resolution, promotion of labor market flexibility at the same time in harnessing female participation, leveraging technologies, and meeting the scale needs of the economy, whether at the national or international level.
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