INDIAS GOVERNMENT
India-UK ties to grow incrementally with a fair share of challenges
Labour Party secures a significant win in UK elections, raising questions about Brexit's impact and future policies. Indian diaspora gains prominence in UK politics. Both India and UK aim to enhance cooperation on trade, technology, and security while addressing challenges in bilateral relations and global issues.
Government change in UK won't impact proposed FTA
The Labour Party gained a landslide majority in Thursday's parliamentary elections and dealt a bruising defeat to incumbent Rishi Sunak's Conservative Party. "Smooth transition of current talks will take place as the Labour Party has shown support to the trade deal with India," said Sachin Chaturvedi, Director General, Research and Information System for Developing Countries. The Labour Party holds a different position on social service payments and totalisation issues, he said, adding that this could be an arena of discussion in upcoming rounds of talks.
Government notifies additional provisions in Telecom Act 2023
The government has notified new sections of the Telecommunications Act focusing on spectrum utilization and regulatory appointments. The Act aims to enhance efficiency through methods like sharing and trading of spectrum.
Regulatory pressure, push from leadership lead to better compliance standards in India Inc: EY report
A new report from EY shows India Inc.'s improved adherence to compliance and integrity standards, driven by regulatory pressure and management focus. The survey highlights key factors like policy developments, leadership role, and customer demand for ethical standards.
On A(I) Mission, Centre may go with Indian intel
GPUs are currently a precious resource for the AI industry and are manufactured only by a handful of American companies like Nvidia, Intel, and AMD. Sources said Indian data firms can procure GPU units and then provide them to local firms, startups, academics and researchers at a subsidised rate, for all use cases.
What Labour victory means for India-UK ties & markets? Arnab Das explains
There is a disconnect where the geopolitical and geoeconomic tensions are high. Still, the reality of the macro on the ground is that the integration continues. So, there is not going to be any big rupture in Asia, but there is going to be a continuing integration or continuing alignment of India and other countries in Asia with the West including the UK, Invesco’s Arnab Das.
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Budget 2024 may see Modi government continue its pitch for India's green energy ambitions
BUDGET EXPECTATIONS: Industry experts anticipate the Union Budget 2024 will maintain the Modi government’s focus on renewable energy, emphasizing policy stability and increased investment. Sharad Mahendra of JSW Energy underscores the need for consistent policies to support long-term projects and a significant boost in annual renewable capacity to meet India’s 2030 target of 500 GW.
India must reflect & implement essential reforms to strengthen the arbitration process
The recent finance ministry notification in India has raised concerns by discouraging automatic arbitration clauses in procurement contracts. The move aims to address the unsatisfactory experience of the Government of India (GoI) in arbitration and promote mediation or court resolution for disputes. This decision has sparked a debate on the effectiveness of alternative dispute resolution methods and their impact on business dealings, particularly with global companies.
Government to soon come out with a new shipbuilding, repair policy
The Ministry of Ports, Shipping, and Waterways is set to introduce a new Shipbuilding and Repair Policy under the 100-day action plan. Ambitious goals have outlined in Maritime India Vision 2030 and Amrit Kaal Vision 2047 to elevate India's shipbuilding industry globally. The initiative aims to revitalise the industry, increase the share of Indian-owned vessels in cargo transport, and seize a significant market opportunity by 2047.
RBI's bumper payout to limit big ticket divestment; govt to maintain Rs 50k cr target: Report
A record Rs 2.1 lakh crore dividend payout by the RBI is expected to reduce the urgency for major divestments, according to Care Ratings, maintaining the government's Rs 50,000 crore target from divestments. Asset monetisation may be preferred if there is a resource shortfall, with SCI sales aiding in achieving the FY25 target. Potential divestments in SCI, CONCOR, and Pawan Hans are on the horizon, with projected total divestment proceeds reaching Rs 12,500-22,500 crore.
India's EV plans to get a policy boost as govt may fast-track 3 big-ticket schemes
The Indian government plans to fast-track three major electric vehicle schemes in its first hundred days, including incentives for local battery production and electric bus procurement under FAME 3. Aimed at boosting clean mobility, these initiatives aim to propel India towards net-zero goals amid rising global demand for EVs.
Modi’s Budget to send India’s soaring stocks higher: Survey
More than half of the 24 respondents estimated that the Nifty 50 Index may advance up to 26,000 points by the end of 2024, while one predicted the gauge can climb even more.
Proxy debt plays may slow as JPM index inclusion progresses
Analysts predict the Centre will maintain or reduce the fiscal deficit target to 5% of GDP in the upcoming budget, as foreign investment in Indian government bonds surges post JP Morgan index inclusion.
India AI Summit | Govt to invest in AI compute infra: IT minister Ashwini Vaishnaw
India prioritizes democratizing AI technology through a public platform, AI compute infrastructure, and support for deep tech startups. New Delhi is in discussions with GPAI countries for AI regulations and aims to invest in GPUs for AI innovation.
Government eases rules for global sourcing of medical gear
Pavan Choudary, chairman, Medical Technology Association of India (MTAI), termed the move a path-breaking effort by the government towards equitable policy making, spanning the crucial last mile which was uncovered so far.
India bond yields may see further uptick as US peers jump
Indian bond yields expected to increase amidst renewed Treasuries selloff. Benchmark 10-year yield likely to stay within 6.99%-7.03% range. U.S. yields rising, with expectations of a 46 bps rate cut by the Fed in 2024.
NITI Aayog calls for policy and legal reforms to regulate use of facial recognition technology (FRT) in India
In a report, prepared by the Vidhi Centre for Legal Policy on behalf of the Aayog, it had proposed imposing liability and the extent of liability arising from any harms or damages caused by the use of facial recognition technology (FRT) system. Besides, the Aayog has suggested a need for an ethical committee to address issues pertaining to transparency, accountability, and biases emanating from the use of such systems in India.
India issued one lakh patents in 2024, ten years back it was just 6000: Piyush Goyal
India has seen a significant rise in the number of patents granted, reaching around one lakh in 2024, a substantial increase from the 6,000 patents issued annually a decade ago, according to Union Minister of Commerce and Industry Piyush Goyal. The announcement was made during an outreach program with industry leaders and stakeholders in Hyderabad, Telangana.
Government panel recommends Challa Sreenivasulu Setty as next SBI Chairman
"Financial Services Institutions Bureau interfaced with 3 candidates on June 29, 2024 for the position of Chairman in State Bank of India," the panel said in a release. The Bureau added that taking performance and experience into consideration, Setty was their choice for the job.
India's healthcare in critical condition: 4 out of 5 public health centers below par, reveals new Govt report
A recent Indian government self-assessment reveals that most public health facilities, including district hospitals and primary centers, fall short of essential standards. Only 20% meet benchmarks for infrastructure and resources, with 42% scoring below 50%. Initiatives aim to bring 70,000 facilities to standard within 100 days, backed by inspections and funding under the National Health Mission. This highlights urgent reforms needed to enhance healthcare nationwide, promising better services and equity in healthcare delivery.
India economy likely to sustain high growth trajectory: ITC
Indian conglomerate ITC predicts the Indian economy will sustain its high growth trajectory in FY2024-25 due to strong momentum in fixed investments and private consumption. The growth is supported by a good Rabi harvest and normal monsoons. Factors like a favorable demographic profile, increasing affluence, rapid urbanisation, and accelerated digital adoption are key structural drivers of the Indian economy.
Fiscal discipline key to India's growth prospects: Sanjay Nayar
So, we will have to also think about how we channel the energies towards more advanced and more modern techniques and technology, because that is what we need right now.
Amazon Pay India top up; GST summons for egaming firms
Amazon has pumped Rs 600 crore in its local fintech unit Amazon Pay India. This and more today’s ETtech Top 5.
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.
INDIA bloc leaders to enter Lok Sabha together as mark of unity
The first session of the 18th Lok Sabha begins today, with Opposition INDIA bloc MPs showing unity by entering together. Newly elected MPs, including Prime Minister Modi, will take the oath, and the session is expected to be contentious with discussions on various issues. The Lok Sabha Speaker election is set for June 26.
What's behind India's hardening posture against China?
India appears to be adopting a tougher stance towards China, with Prime Minister Modi set to attend the Shanghai Cooperation Organisation (SCO) meeting in Kazakhstan in July. Recent developments suggest a hardening of India's posture against China, including refusing to resume direct passenger flights and engaging with Taiwan, signaling a shift in India's approach.
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