The report estimated India's economic growth to be at 7.3 percent in 2016, and the growth would increase even more in 2017. India is already one of the world's fastest-growing economy last year, benefiting from the sharp decline of oil, metals, and food price.
Tags: India
Facebook India: Facebook’s Free Limited Internet Access Program Stays Banned, Following the TRAI Decision
India’s internet regulator, the TRAI, had officially banned Facebook’s Free Basics program. The program has been banned for a few months now, but TRAI has been willing to reevaluate the terms until it came up with the decision that the program would not be allowed in the country. The Free Basics program was banned due to concerns over internet neutrality.
India Startup: Zomato Becomes India's First E-Commerce to Break Even
The company announced that it had broken even in India and six other foreign countries, making the Indian e-commerce the first to achieve that milestone. Zomato, valued at over $1 billion, is going to start another funding round before becoming profitable by mid-2016.
India elbowed out Thailand to take the position of world’s largest rice exporter
India is now the world's largest exporter of rice, with 10.23 million tons of rice exported in 2015. The country outranked the former leader, Thailand whose export numbers have fallen to 9.8 million tons this year, which also recorded the lowest rice prices in the last ten years. It seems the falling prices are also tied to the global oil crisis that has hit the rice importers, thereby affecting their purchasing power.
Global Innovation: China, India, and Thailand Are Among Countries With Lesser Support for Innovation
The Information Technology and Innovation Foundation (ITIF) concluded the study based on 27 factors that bring both positive and negative impact towards global innovation. The study involved 56 countries, whereas China stood at the 44th rank, Thailand the 53rd, followed by India. ITIF also noted that supporting global innovation is crucial for countries' economic growth.
Latest News
The raiding of the party drug factories unravels that the drugs didn't come from foreign countries but instead being manufactured in India. The factories already have the license to manufacture drugs but were misusing the license to produce party drugs. Next, the agencies will trace back where the basic chemicals for the mass production of the party drug are originated.
Indian Prime Minister Narendra Modi reveals the details of his much talked-about project, Startup India. Some key highlights are revised IP registration policies, faster exit and entry, income tax exemptions, and benefits for a woman entrepreneur. Modi hopes with this plan in action, India will soon become the hub for global startups.
Indian Prime Minister Narendra Modi recently revealed his ambitious project, Startup India. The Rs10,000-crore plan is meant to encourage a thriving startup culture by reducing government regulations and hurdles from the way. This government aid should prevent the young entrepreneurs from fleeing to another country with better bureaucratic policies.
India remains stand out despite the slowing down China's economy, which has caused large impacts to the global economy. India is predicted to be the fastest-growing country in the world this year. Some impacts should be faced by the Indian export markets. However, India keeps focusing on the actions that can improve the economy growth.
Intense fog in Delhi, India, caused great disruptions in train schedules. Nearly 60 trains were cancelled while around 10 were delayed due to poor visibility. The air pollution problems in Delhi is quite acute and the government should should work towards a resolution.
Ethiopia's Agricultural Ministry has terminated its agreement with Indian company's Karuturi Global Ltd. last month on the grounds that the company has not made enough progress as agreed upon. Karuturi has claimed that the government has prevented it from making any further progress and will take legal action to fight the cancellation.
Bank of America Merrill Lynch Wealth Management analysts expects India to be the next e-commerce battleground in 2016 as big tech companies like Facebook, Google, and Amazon are set to conquer the country this year.
The top online search engine already had the initial discussions with the three Indian startups. Baidu seeks to expand to India due to growing online population and internet user.
The world stockpiles of cotton are piling up giving less scope for investors on price rise. Cotton prices witnessed first weekly drop since November.
