The October edition of the Newsletter outlines the Indian priorities and the road ahead for the G20; provides brief information on the happenings at the World Bank, Asian Development Bank (ADB), International Finance Corporation (IFC), World Trade Organization (WTO), International Trade Centre (ITC) and highlights the key remarks made by the Minister of State for External Affairs at the 8th IBSA Trilateral Ministerial Commission Meeting.
As two of the fastest growing emerging market economies, India and China together symbolize an economically vibrant Asia. Find out what China’s rapid economic growth implies for India, and more, in the December 2015 issue of the CII Global Watch.
Tulsi Tanti's Speech at The BRICS 2014 Summit - Full SpeechSuzlon Group
The Complete Speech Presented by Mr. Tulsi Tanti, Suzlon Group on 'Economic Integration-Challenges for Sustainable Growth' at BRICS Business Forum July 14, 2014
The November issue of #PolicyWatch focuses on the overall state of #MSME development in the country, opportunities for MSMEs in some critical sectors, some of the latest MSME initiatives by the Government demonstrating its commitment towards the melioration of business environment for MSMEs and significant policy recommendations in various areas that will assist in putting Indian MSMEs on a high growth trajectory.
The OECD is proud to have India as a Key Partner. This brochure provides a glimpse of the scope, depth and detail of our joint work.
Our partnership with India encompasses a wide range of policy areas to advance sustainable development and well-being, including labour market development, gender equality, tax reform, corporate governance and the fight against corruption.
India @ G20 : A Primer on Priorities
Economic growth, industrialization, infrastructure and access to energy provide the foundations of development
for any growing economy.
‘Building Resilience’ is the prime objective of the G20 and with this in mind this grouping has set itself the
task of increasing the stability and resilience of economies, and thus of the global economy as a whole. Global
economic growth had taken quite a blow in recent times and therefore become much weaker overall than it
did after previous economic downturns. As a result, public and private debt across various regions, Central
banks’ interest rates got negatively impacted in many G20 countries. Structural reforms in G20 countries, with
focus on fiscal and monetary policies are the key to stability and long-term sustainability.
The rise of the global South is radically reshaping the world and is perhaps the most significant development of recent times. As one of the fastest growing economies, India has emerged as the seventh largest economy globally. Moreover, India’s 16-rung leap in the recently released Global Competitiveness ranking by the World Economic Forum points towards its sharp focus on improving competitiveness.
As India began to enhance its competitiveness journey and given the new direction of its economic and political diplomacy, it has signed FTAs with some of the most important economies like Japan, Korea, Malaysia and the ASEAN countries in the last few years. It is also in the process of negotiating comprehensive trade agreements with EU, Australia, Canada and New Zealand. It has made its presence felt in alliances like the G-20, IBA, and BRICS and has also deepened relations with the East Asian countries. All this points towards India’s growing integration into the Global Economy.
While Indian industry has adapted well to the changing global dynamics, it needs to work hard to integrate itself into the global value chains (GVCs) to boost its global trade, and the country’s economic development.
This edition of Policy Watch looks at some of the important issues that continue to impact the overall trade performance of India and highlights key policy interventions that need to be taken up on priority.
The ‘Make in India’ program has opened investment opportunities across sectors. Two years after the launch of the Prime Minister's visionary initiative, there is visible momentum, energy and optimism. Our cover story describes CII's forward-looking plans to boost manufacturing in India, and shares success stories from the specialty chemicals, textiles and electronics sectors.
As two of the fastest growing emerging market economies, India and China together symbolize an economically vibrant Asia. Find out what China’s rapid economic growth implies for India, and more, in the December 2015 issue of the CII Global Watch.
Tulsi Tanti's Speech at The BRICS 2014 Summit - Full SpeechSuzlon Group
The Complete Speech Presented by Mr. Tulsi Tanti, Suzlon Group on 'Economic Integration-Challenges for Sustainable Growth' at BRICS Business Forum July 14, 2014
The November issue of #PolicyWatch focuses on the overall state of #MSME development in the country, opportunities for MSMEs in some critical sectors, some of the latest MSME initiatives by the Government demonstrating its commitment towards the melioration of business environment for MSMEs and significant policy recommendations in various areas that will assist in putting Indian MSMEs on a high growth trajectory.
The OECD is proud to have India as a Key Partner. This brochure provides a glimpse of the scope, depth and detail of our joint work.
Our partnership with India encompasses a wide range of policy areas to advance sustainable development and well-being, including labour market development, gender equality, tax reform, corporate governance and the fight against corruption.
India @ G20 : A Primer on Priorities
Economic growth, industrialization, infrastructure and access to energy provide the foundations of development
for any growing economy.
‘Building Resilience’ is the prime objective of the G20 and with this in mind this grouping has set itself the
task of increasing the stability and resilience of economies, and thus of the global economy as a whole. Global
economic growth had taken quite a blow in recent times and therefore become much weaker overall than it
did after previous economic downturns. As a result, public and private debt across various regions, Central
banks’ interest rates got negatively impacted in many G20 countries. Structural reforms in G20 countries, with
focus on fiscal and monetary policies are the key to stability and long-term sustainability.
The rise of the global South is radically reshaping the world and is perhaps the most significant development of recent times. As one of the fastest growing economies, India has emerged as the seventh largest economy globally. Moreover, India’s 16-rung leap in the recently released Global Competitiveness ranking by the World Economic Forum points towards its sharp focus on improving competitiveness.
As India began to enhance its competitiveness journey and given the new direction of its economic and political diplomacy, it has signed FTAs with some of the most important economies like Japan, Korea, Malaysia and the ASEAN countries in the last few years. It is also in the process of negotiating comprehensive trade agreements with EU, Australia, Canada and New Zealand. It has made its presence felt in alliances like the G-20, IBA, and BRICS and has also deepened relations with the East Asian countries. All this points towards India’s growing integration into the Global Economy.
While Indian industry has adapted well to the changing global dynamics, it needs to work hard to integrate itself into the global value chains (GVCs) to boost its global trade, and the country’s economic development.
This edition of Policy Watch looks at some of the important issues that continue to impact the overall trade performance of India and highlights key policy interventions that need to be taken up on priority.
The ‘Make in India’ program has opened investment opportunities across sectors. Two years after the launch of the Prime Minister's visionary initiative, there is visible momentum, energy and optimism. Our cover story describes CII's forward-looking plans to boost manufacturing in India, and shares success stories from the specialty chemicals, textiles and electronics sectors.
Make in india - The Way Ahead Class 12 Economics ProjectShivamSingh1247
This is Class 12th Economics Project as per CBSE Guideline
- Introduction
- Process
- Advantages & Disadvantages
- Challenges
- Criticsm & Concerns
- Sectors Covered
- Objective of Make in india
- Manufacturing Projects
- Infrastructure Support
- News & Statistic
- Objective of Making this Project
- Conclusion
- Bibliography
A Review of the Uttarakhand’s Industrial Policies and Their PerformanceYogeshIJTSRD
In todays world, a nations economic development cannot be addressed without acknowledging industrialization. Industrial development is mostly based on the industrial profile of the particular states countries. This study reviews Uttarakhands industrial policies and their performance toward the growth of industrial units and generating new employment opportunities. The data sources of the study are published reports of Uttarakhands government departments and other secondary sources. Uttarakhand launched many industrial policies and set up SIIDCUL to develop industries SIIDCUL developed industrial infrastructure and attracted investors. The result shows that the industrial policies of Uttarakhand are favourable for the state in terms of attracting investors, generating employment opportunities, and pushing the state to an industrial hub. Industrial policies gave many tax concessions to investors and also made a single window clearance facility for investors. These industrial policies also have the intention of reviving the states sick units. The impact of these industrial policies is the contribution of the secondary sector increase in the gross state domestic product, and this sector also generated new employment opportunities in the industrial sector. Rajinder Singh | Prof. B. K. Agrawal "A Review of the Uttarakhand’s Industrial Policies and Their Performance" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-5 , August 2021, URL: https://www.ijtsrd.com/papers/ijtsrd45077.pdf Paper URL: https://www.ijtsrd.com/humanities-and-the-arts/economics/45077/a-review-of-the-uttarakhand’s-industrial-policies-and-their-performance/rajinder-singh
CII August issue of the Multilateral Newsletter captures the priority areas of cooperation in the grouping, the regional challenges and the solutions to strengthen and integrate the grouping. In addition to this, the newsletter also highlights the key happenings at the International Labour Organisation (ILO), The World Bank (WB), International Fund for Agricultural Development (IFAD) and Asian Development Bank (ADB).
In many ways, India can be described as a paradoxical nation of sorts. Popularly identified with buzz words such as ‘population’, ‘multitude of languages & religions’, ‘rich culture’, ‘scrumptious food’, ‘Yoga’, ‘Ayurveda’, ‘the number zero’ and with over 1.25 billion people, the country has transitioned to become the fourth largest economy in the world.
In particular, India’s emergence as one of the most popular outsourcing destinations globally has been remarkable with the country’s name being almost synonymous with the words ‘sourcing’ or ‘offshoring’. At the same time, this success is juxtaposed with numerous issues such as poverty, political turbulence and lack of good infrastructure.
It is interesting to note how India has managed to sustain its progress, especially in the outsourcing sector, amid such deep rooted problems, or is it reading too much into it? This paper provides an overview of India as a sourcing destination, its strengths and weaknesses, and opportunities that lay ahead.
Impact of Goods and Services Tax on Indian Economyijtsrd
The Goods and Services Tax, also known as GST Goods and Service Tax , came into force in India on 01 July 2017. Now there is a free flow of goods in the country and the concern of tax rates of businessmen have ended. The Goods and Services Tax rate in India is the highest at 28 percent, which frustrates businessmen. GST replaced very complex and many indirect taxes such as production duty, sales tax, entry tax, VAT etc. The objective of the Government of India to implement this was to encourage development by adopting the system of “one nation, one tax, one market†by exempting the country from the different tax rates of different states. Goods and services have become expensive with GST. But it will have to wait for its positive and negative results, and see which side is to turn. Finally, how does the Goods and Services Tax affect consumers Dr. Sumit Trivedi "Impact of Goods and Services Tax on Indian Economy" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd41316.pdf Paper URL: https://www.ijtsrd.commanagement/accounting-and-finance/41316/impact-of-goods-and-services-tax-on-indian-economy/dr-sumit-trivedi
The topic was delivered by Shri B.S. Mubarak IFS, Director (South) – Ministry of External Affairs, Government of India, Delhi | Former Consul General of India in Saudi Arabia.
CII Multilateral Newsletter July edition outlines the highlights of the key discussions of G20 Summit and the testimonials made by B20 members as well as the developments in the Association of Southeast Asian Nations (ASEAN), World Bank, Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB).
The May edition of the Multilateral Newsletter highlights the key deliberations from the Forum and provides the key recommendations made by the OECD stakeholders. In addition, the edition covers major happenings at the World Bank, Asian Development Bank (ADB), B20 and International Labour Organisation (ILO).
Make in india - The Way Ahead Class 12 Economics ProjectShivamSingh1247
This is Class 12th Economics Project as per CBSE Guideline
- Introduction
- Process
- Advantages & Disadvantages
- Challenges
- Criticsm & Concerns
- Sectors Covered
- Objective of Make in india
- Manufacturing Projects
- Infrastructure Support
- News & Statistic
- Objective of Making this Project
- Conclusion
- Bibliography
A Review of the Uttarakhand’s Industrial Policies and Their PerformanceYogeshIJTSRD
In todays world, a nations economic development cannot be addressed without acknowledging industrialization. Industrial development is mostly based on the industrial profile of the particular states countries. This study reviews Uttarakhands industrial policies and their performance toward the growth of industrial units and generating new employment opportunities. The data sources of the study are published reports of Uttarakhands government departments and other secondary sources. Uttarakhand launched many industrial policies and set up SIIDCUL to develop industries SIIDCUL developed industrial infrastructure and attracted investors. The result shows that the industrial policies of Uttarakhand are favourable for the state in terms of attracting investors, generating employment opportunities, and pushing the state to an industrial hub. Industrial policies gave many tax concessions to investors and also made a single window clearance facility for investors. These industrial policies also have the intention of reviving the states sick units. The impact of these industrial policies is the contribution of the secondary sector increase in the gross state domestic product, and this sector also generated new employment opportunities in the industrial sector. Rajinder Singh | Prof. B. K. Agrawal "A Review of the Uttarakhand’s Industrial Policies and Their Performance" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-5 , August 2021, URL: https://www.ijtsrd.com/papers/ijtsrd45077.pdf Paper URL: https://www.ijtsrd.com/humanities-and-the-arts/economics/45077/a-review-of-the-uttarakhand’s-industrial-policies-and-their-performance/rajinder-singh
CII August issue of the Multilateral Newsletter captures the priority areas of cooperation in the grouping, the regional challenges and the solutions to strengthen and integrate the grouping. In addition to this, the newsletter also highlights the key happenings at the International Labour Organisation (ILO), The World Bank (WB), International Fund for Agricultural Development (IFAD) and Asian Development Bank (ADB).
In many ways, India can be described as a paradoxical nation of sorts. Popularly identified with buzz words such as ‘population’, ‘multitude of languages & religions’, ‘rich culture’, ‘scrumptious food’, ‘Yoga’, ‘Ayurveda’, ‘the number zero’ and with over 1.25 billion people, the country has transitioned to become the fourth largest economy in the world.
In particular, India’s emergence as one of the most popular outsourcing destinations globally has been remarkable with the country’s name being almost synonymous with the words ‘sourcing’ or ‘offshoring’. At the same time, this success is juxtaposed with numerous issues such as poverty, political turbulence and lack of good infrastructure.
It is interesting to note how India has managed to sustain its progress, especially in the outsourcing sector, amid such deep rooted problems, or is it reading too much into it? This paper provides an overview of India as a sourcing destination, its strengths and weaknesses, and opportunities that lay ahead.
Impact of Goods and Services Tax on Indian Economyijtsrd
The Goods and Services Tax, also known as GST Goods and Service Tax , came into force in India on 01 July 2017. Now there is a free flow of goods in the country and the concern of tax rates of businessmen have ended. The Goods and Services Tax rate in India is the highest at 28 percent, which frustrates businessmen. GST replaced very complex and many indirect taxes such as production duty, sales tax, entry tax, VAT etc. The objective of the Government of India to implement this was to encourage development by adopting the system of “one nation, one tax, one market†by exempting the country from the different tax rates of different states. Goods and services have become expensive with GST. But it will have to wait for its positive and negative results, and see which side is to turn. Finally, how does the Goods and Services Tax affect consumers Dr. Sumit Trivedi "Impact of Goods and Services Tax on Indian Economy" Published in International Journal of Trend in Scientific Research and Development (ijtsrd), ISSN: 2456-6470, Volume-5 | Issue-4 , June 2021, URL: https://www.ijtsrd.compapers/ijtsrd41316.pdf Paper URL: https://www.ijtsrd.commanagement/accounting-and-finance/41316/impact-of-goods-and-services-tax-on-indian-economy/dr-sumit-trivedi
The topic was delivered by Shri B.S. Mubarak IFS, Director (South) – Ministry of External Affairs, Government of India, Delhi | Former Consul General of India in Saudi Arabia.
CII Multilateral Newsletter July edition outlines the highlights of the key discussions of G20 Summit and the testimonials made by B20 members as well as the developments in the Association of Southeast Asian Nations (ASEAN), World Bank, Asian Development Bank (ADB) and the Asian Infrastructure Investment Bank (AIIB).
The May edition of the Multilateral Newsletter highlights the key deliberations from the Forum and provides the key recommendations made by the OECD stakeholders. In addition, the edition covers major happenings at the World Bank, Asian Development Bank (ADB), B20 and International Labour Organisation (ILO).
India’s engagement at multilateral forums has significantly increased over the last one decade. It has been playing a constructive role in forums like G-20 (B-20) which has been deliberating on critical issues of global economic and trade governance post the financial crisis. Besides this, India has also joined the grouping like IBSA and BRICS, which again are playing an important role in current global scenario.
CII complements the Government of India’s enhanced engagement with East and Southeast Asia, Africa and Latin America. In recent years, Indian industry too has started taking keen interest on these issues and is looking outward, slowly emerging as one of the significant sources of global investment. CII in association with its partner business associations has formed a Business 20 alliance to feed business inputs into the G-20 discussions on issues which are of direct interest to them.
Through this newsletter, CII hopes to provide an insight to all such multilateral and regional engagements of India and Indian industry.
The growing importance of emerging economies, along with the increasing integration of the global economy and financial markets, underscore the importance of broadening the scope of international economic and financial co-operation.
The establishment of G20, comprising around 90 per cent of the global GDP, 80 per cent of the world trade and more than two-third of the world’s population, recognized considerable changes in the international economic landscape.
The G20 plays a vital role in supporting globalization, development of domestic financial markets, regional economic integration, demographics and resource security. Independent business associations from G20 countries formed a coalition named as Business 20 (B20). The coalition acts a bridge between government and business communities of the G20 countries.
The November 2014 edition of the Multilateral Newsletter highlights the key deliberations made at the G20 and B20 Summits. In addition, it covers key points of major happenings from the recently held ASEAN Summit in Nay Pyi Taw, Myanmar.
Read the Newsletter for more information with reference
This edition of the Newsletter highlights the key deliberations made at the 21st edition of the Partnership Summit 2015 held from 15-17 January 2015 in Jaipur, Rajasthan.
In addition, it covers key highlights from the address of the UN Secretary General, Ban Ki Moon and World Bank President, Jim Yong Kim at Vibrant Gujarat Summit held from 11-13 January 2015 in Ahmedabad, Gujarat.
The Newsletter covers key happenings from ASEAN, Asian Development Bank (ADB) and the World Bank as well.
The March-April edition of the Multilateral Newsletter gives insights on the key happenings at the various multilateral institutions and highlights the key discussions and deliberations at the informal WTO Ministerial Meeting held in New Delhi.
WTO plays a vital role by bringing stability and predictability to the multilateral trading system. It is a collective responsibility of WTO members to address the challenges faced by the system and putting the economies back on steady and meaningful way forward.
Several proposals and initiatives on investment facilitation were tabled at the WTO in the run-up to the 11th Ministerial Conference. The proponents advocated discussions on Investment Facilitation within the WTO framework. However, there was no consensus on initiating negotiations, or even establishing a Work Programme, on Investment Facilitation. A clear need of more work to look at all aspects of a potential multilateral rules on Investment, particularly on its impact on domestic policy space was stated.
In order to deepen the understanding between the member it is important that an open, transparent and inclusive approach of decision making for the various interventions. The informal WTO Ministerial gathering in New Delhi saw convergence of around 53 members representing a broad spectrum of the WTO membership.
CII, as an Industry Institution is cognizant of the need for India to engage constructively in some of the new issues being discussed under the WTO framework.
Business Environment - Unit-4 - IMBA - Osmania UniversityBalasri Kamarapu
Business Environment - Unit-4 - IMBA - Osmania University
Liberalisation, Privatisation, and Globalisation (LPG) in Indian Economy:
Concept of LPG
Process of LPG followed in India
Globalization and role of WTO
Regional Trading Blocks
India’s Foreign Trade and Agreements with Trading Blocks.
Highlights of the LPG Policy
Foreign Technology Agreements
Foreign Investment
MRTP Act 1969 (Amended)
Industrial Licensing
Deregulation
Beginning of Privatisation
Opportunities for overseas trade
Steps to regulate inflation
Tax reforms
Abolition of License-Permit Raj
Advantages of Globalisation in India
Industrial Licensing
Deregulation
Beginning of Privatisation
Opportunities for overseas trade
Steps to regulate inflation
Tax reforms
Abolition of License-Permit Raj
Advantages of Globalisation in India
Types of Regional Trading Blocs
Trade blocs can be stand-alone agreements between several states (such as the North American Free Trade Agreement (NAFTA) or part of a regional organization (such as the European Union).
Depending on the level of economic integration, the trade blocs can fall into the 6 different categories, such as preferential trading areas, the free trade areas, the customs unions, the common markets, the economic union and monetary unions & the political union.
Preferential Trade Area: Preferential Trade Areas (PTAs) exist when countries within a geographical region agree to reduce or eliminate tariff barriers on selected goods imported from other members of the area. This is often the first small step towards the creation of a trading bloc.
The India Edge: U.S. Industries Catalysing the Growth TrajectoryAmcham India
AMCHAM and KPMG released this report in the presence of Mr. Piyush Goyal, Minister of Commerce and Industry, Government of India at AMCHAM’s 31st Annual General Meeting on May 4th in New Delhi. India today stands at a global vantage point. The world’s most populous country with an increasingly open economy and a strong technology sector has demonstrated the potential to operate at scale with skill.
The #G20YEA Summit in Sydney final communique signed by the Presidents of the 20 Young Entrepreneurs organizations together with the national action plans for employment. The G20 Young Entrepreneurs Alliance Summit took place in Sydney, Australia, from the 18th to the 22nd of July, 2014. The Young Entrepreneurs of the European Union are represented by YES for Europe.
Similar to Multilateral Newsletter October 2017 (20)
Micro, Small and Medium Enterprises (MSMEs) sector is the backbone of the national economic structure and has acted as the bulwark for the Indian economy, providing it resilience to fend off global economic shocks and adversities. The development of the sector is extremely critical to meet the national imperatives of financial inclusion and generation of significant levels of employment across urban, rurban and rural areas and to catalyse socio-economic transformation.
Easy access to credit and finance remains one of the many challenges faced by the sector. Hence, in view of the sector's importance in the overall economic landscape, it is critical the MSME sector develops through the concerted efforts of various stakeholders, including banks and financial institutions, equity funds, industry majors and MNCs, regulators across various ministries at the Center and in the States, and trade associations, together, to create a forward-looking framework and ecosystem. The competitiveness of the MSME sector is critical for sustaining economic growth.
It’s a matter of concern that 600 million people in India face high to extreme water stress in the country. About three-fourths of the households in the country do not have drinking water at their premise. With nearly 70% of water being contaminated, India is placed at 120th amongst 122 countries in the water quality index. It’s a fact that water is a State subject and its optimal utilization and management lies predominantly within the domain of the States. This index is an attempt to budge States and UTs towards
efficient and optimal utilization of water and recycling thereof with a sense of urgency.
GST, the single taxation regime, was implemented a year back and though there were some initial implementation issues, as is the case with any system for the first time, it is safe to say that the GST has been the biggest tax reform of Independent India.
Cyberspace is rapidly transforming our lives – how we live, interact, govern and create value. With the JAM (Jan Dhan, Aadhaar and Mobile) trinity, India is at the forefront of global digital transformation. “Digital India” is being hailed as the world's largest technology led programme of its kind.
While internet, smartphones and modern information and
communication devices have been great force multipliers, endless connectivity and proliferation of IoT devices is giving rise to vulnerabilities, risks and concerns. Cyber security is today ranked among top threats by governments and corporates. Heightened concerns about data security and privacy have resulted in a spate of regulations in India and across the world. India is in the process of discussing and enacting its own comprehensive data security and privacy regulation, as well as vertical specific ones. Cyber security is an ecosystem where laws, organisations, skills, cooperation and
technical implementation would need to be in harmony to be
effective.
Overall, a robust regulatory framework based on global and
country-specific regulations, development of a holistic cyber
security eco-system (academia and industry as well as
entrepreneurial) and a coordinated global approach through
proactive cyber diplomacy would help to secure cyber space and promote confidence and trust of key stakeholders including
citizens, businesses, political and security leaders.
CII has been actively working in the cyber security space. The CII Task Force on Public Private Partnership for Security of the Cyber Space has been set up to bring about improvements in the legal framework to strengthen and maintain a safe cyberspace ecosystem by capacity building through education and training programmes. We would facilitate collaboration and cooperation between Government and Industry in the area of cyber security in general and protection of critical information infrastructure in particular, covering cyber threats, vulnerabilities, breaches, potential protective measures, and adoption of best practices.
Delhi, the capital of India, has emerged as a major commercial capital and industrial hub of India. It is home to a wide range of industries including textiles, electrical and electronics, IT &ITeS services, hotel and tourism, which have contributed immensely to the economic and industrial growth of the country. Nearly 88% of the SMEs in Delhi revealed that this cluster is as an attractive destination for conducting business. Delhi has become an attractive business and tourist destination. This is driven by its improved infrastructure, good connectivity with other Asian and western regions, ease of access to market and availability of skilled labor among others. Consequently, it has emerged as
one of the most preferred investment and business destinations.
The state government of Maharashtra has been at the forefront in creating a conducive business environment that fosters globally competitive firms. Business reforms introduced both by the Central as well as the state government have played a critical role in India’s 30 spots improvement in the Doing Business ranking for 2018.
The State, under the Business Reforms Action Plan (BRAP) 2016, has implemented over 90 per cent reforms in 7 out of 10 parameters, including labour registration, utility connections, single window system, environment registration, among others. These policy reforms have significantly helped in the reduction in time and cost of doing business for the industry, thereby
establishing Maharashtra as one of the top investment destinations in the country.
This report provides the key highlights of the select initiatives on ease of doing reforms in Maharashtra. With a view to provide on-ground impact of these initiatives, the Report also captures industry views on various aspects of business reforms.
Businesses are gradually recognizing that ethics means good business. It is believed that well-run and trustworthy
companies are more likely to attract greater investment opportunities, which enables them to innovate and expand, and
generate wealth and jobs. Good corporate governance practices are regarded as providing an 'extra' edge to companies
to enhance their image and stay ahead in an intensely competitive business environment. This would help them imbibe
universally accepted values of ethics and good governance—accountability, transparency, responsibility and
responsiveness to stake holders. Besides, it would also mean looking beyond achieving mere economic sustainability to
include social and environmental sustainability as well. Many corporates are adhering to sustainable business practices
and many more are likely to follow suit in the time to come.
On the domestic front, CII expects economic growth to bounce back to 7.3-7.7 per cent in FY19 from the estimated 6.6
per cent in FY18. The prognosis of improved rural consumption and a recovery in private investment will support
growth, even as the debilitating effects of demonetisation and GSTimplementation will fade away
The Commuique May 2018 edition discusses the cover story
on 'Resolving Insolvency in India'
The Insolvency and Bankruptcy Code (IBC) 2016, is one of
the biggest regulatory reforms corporate India has witnessed
in recent times.
It also features 'UK-India CEO Forum Meeting ', 'CII CEOs Delegation to 11th Commonwealth Business Forum 2018', 'Four Transformations of the Global Energy Market', Economy pieces on 'The Innovation Paradox' & 'Can the Lion Conquer the Forest?' along with a piece on 'India-Africa Economic Partnership'.
The government of India has, in the past few years, accorded an utmost priority to the Ease of Doing Business (EoDB). The accent is on simplification of regulations and use of technology to make the compliance more efficient for businesses. Apart from the Centre, the States are also being encouraged to implement business reforms in the spirit of competitive federalism, to foster reforms at the sub-national level. The measures are aimed at creating a conducive business environment, which is a key to facilitating growth and creating jobs. Thanks to these measures, India’s EoDB ranking, captured by the World Bank, has improved by 42 spots since 2014 to touch the 100th position now. The Prime Minister envisions India among the top 50 nations in the next couple of years.
While business reforms are being undertaken at a rapid pace and large scale, cutting across Central as well as state levels, it is imperative that awareness about these developments is created among stakeholders and regular feedback is generated to address the gaps in the implementation of reforms. Identification of pending issues and suggesting possible solutions are equally vital. It is also important to identify the best practices within and outside the country, which are considered for implementation by the needy states.
The report reflects on the role of broadband connectivity and the multiplier effect it has on the larger ecosystem. India is ripe for a Digital rethink, with both government and industry aligning their efforts toward a broadband powered Digital India. Broadband has the power to enable the gigabit society that is always connected. Broadband connectivity has changed the way people
communicate, socialise, create, sell, shop and work. India’s digital consumption patterns highlights the evolution. On an average Indians spend 200 minutes on mobile every day, with the second highest app downloads globally. Almost 79% of the web traffic in India is on mobile.
To realise the Digital India dream, there is a need to strengthen the broadband backbone, which forms a key pillar of this transformation. This report highlights the need for future ready and robust broadband infrastructure and the requisite efforts for expediting its reach.
South Africa and India share a rich past and bright future. India has transitioned from being South Africa’s political ally to being a vibrant economic partner. Despite challenges, the opportunity for increasing the value of bilateral trade between the two countries is growing exponentially each year.
South Africa and India have nurtured a bilateral relationship since the 1860s, when the first Indians arrived in South Africa. India was one of the first countries that rallied at the United Nations in support of the anti apartheid movement in South Africa. The strong bond established between the two countries during the struggle for democracy in South Africa became further entrenched in post-apartheid South Africa.
Most global businesses recognise South Africa as the most favourable destination in Africa for making long-term investments. The country offers a stable political and economic environment with established institutions. Policies and procedures are well articulated and consistent, and it offers a free and competitive environment with open-minded consumers. South Africa provides the most stable and technologically viable environment for Indian companies wishing to establish a base from which to expand across the continent. As a gateway to Africa, it is renowned for its infrastructure, skills pool and expertise.
Our world is changing at an unprecedented pace, driven by a new digital economy. Companies across sectors are keen to become more efficient, disruptive, and differentiated, by using new technologies and supported by an ecosystem of customers, partners, and technology leaders. New-age technologies such as Artificial Intelligence (AI), Augmented Reality (AR), Blockchain, Machine Learning, 3D printing, and IoT are gaining more and more importance and acceptance.
India has all the ingredients in place to leverage this innovation and technological advantage in the long run, including university graduates, public institutes and corporates. However, India’s gross expenditure on R&D as a proportion of GDP (GERD) is less than 0.7% as of 2014-15 and within this, the share of industry is just 30%. Further, the vast SME sector needs to scale up technology infusion for higher productivity.
This is the fifth edition of the Grant Thornton India meets Britain Tracker, developed in collaboration with the Confederation of Indian Industry. The India Tracker identifies the fastest-growing Indian companies in the UK, as well as the top Indian employers. It provides insight into the evolving scale, business activities, locations and performance of the Indian-owned companies who are making the biggest impact in the UK.
This year, our research identified approximately 800 Indian companies operating in the UK, with combined revenues of £46.4 billion (£47.5 billion in 2017). Together, they paid £360 million in corporation tax (£275.7 million in 2017) and employed 104,932 people (105,268 in 2017). This shows the continued importance of the contribution that Indian companies make to the UK economy.
The Make in India initiative of the government which lays emphasis on domestic manufacturing, indigenization and import substitution, is expected to pave the way for making the Indian defence sector self-sufficient.Encouragingly, the Indian industry is now actively engagedand is partnering with the government in building a modern and best-in-class defence systems, equipment and components which should strengthen our forces and make the country more self-reliant. The formation of the Society of Indian Defence Manufacturers (SIDM) as an apex body of the Indian defence industry is critical in this regard. SIDM is expected to play a proactive role as an advocate, catalyst and facilitator for building the growth and capability of the defence industry in India. Given the rising importance of buttressing the Make in India programme for expanding the capacity of the Indian defence sector, in this issue of Economy Matters, a few SIDM office bearers and defence experts present their insights into this crucial topic.
As India integrates deeper into the global economy, it is becoming increasingly clear that the country needs to focus both on meeting international competition and its own developmental challenges.
The Government launched several initiatives last year, such as Make in India, Skill India, and Digital India, among others, towards make the vision of integrated inclusive development a reality.
For industry, grappling with the challenges of disruptive technologies, restrictive trade laws, environmental responsibilities and more demanding and discerning customers, the imperative is for sharper focus on producing excellent goods and services, along with building skills, generating jobs, and mainstreaming the marginalized.
Personal and freight mobility are important aspects of economic development and therefore create a significant footprint on the natural environment, especially on the ambient air quality. Vehicular emissions have been identified as one of the sources of air pollutants, specially PM 2.5, as per source apportionment study of IIT-Kanpur commissioned by Government of NCT of Delhi in the year 2015 (Sharma and Dikshit, 2016). Although there are other contributors to air pollution but the vehicular pollution remains a major non-point source. Efforts are needed for reducing the overall impact of the same. Another distinguishing feature of Delhi’s transportation system is the medium and heavy commercial vehicles (MHCVs) which are 2.5% of the total vehicular population but are responsible for over 65% of the total vehicular pollution as well as fuel consumption.
Under CII-NITI Aayog 'Cleaner Air Better Life Initiative', the task force on clean transportation has undertaken a consultative process to identify seven areas of action towards mitigation of air pollution in Delhi and National Capital Region (NCR). To begin with, it proposes mobility reforms to induce a more fundamental change from private vehicle towards sustainable means of transportation such as public and shared transportation. Further, limiting high-mileage polluting vehicles, strengthening Pollution-Under-Control (PUC) regime, allowing retailing of bio-fuels, promoting electric-mobility, decongesting traffic hotspots and retrofitting solutions are recommended by the task force, as elaborated.
Confederation of Indian Industry (CII) takes immense pleasure in presenting the third edition of Annual CSR Tracker 2017. Similar to the last two editions, this is the most comprehensive analysis of CSR disclosures of Bombay Stock Exchange (BSE-listed) companies obligated to practice CSR as per the Companies Act, 2013.
The Annual CSR Tracker 2017 is based on disclosures of 1,522 companies as compared to 1,270 companies in 2016 and 1,181 in 2015. Disclosures are broken into approximately, 41 indicators spread across six aspects of CSR legislation: governance, policy, financials, spends as per Schedule VII, spend channels, and spend locations. Also included is beneficiary data that companies voluntarily disclose in their annual reports.
At CII Indian Women Network, we are driven by the imperative that Indian women become a core critical mass of the workforce to bring about the transformational change in attitude and behavior. We have also recognized the importance of some amazing women role models who can inspire the future generation into believing that there are no limits to what a woman can achieve. One critical aspect is our own self-belief and innermost conviction that will ultimately help us triumph in our relentless struggle for gender equality. It is a pleasure to share this comprehensive report with you that captures the universe of several variables that will impact our future progress.
To strengthen the major growth drivers and would go a long way towards facilitating the path of a GDP growth rate of more than 8%. Many of the measures announced in this Budget such as market linkages for the rural economy, incentives for new jobs, fixed term employment, enhancing the quality of education, including teachers training, and addressing healthcare access are in line with CII recommendations.
To enable India to leapfrog into the digital age, CII has been advocating on four broad pillars i.e. building robust infrastructure,
reducing cost of inputs, workforce development and promoting innovation and R&D. In this regard, the Budget’s proposal for
encouraging high-end technologies is a forward-looking initiative. The Government's move to double the allocation on the Digital India programme will help research and skilling in Robotics, Artificial Intelligence (AI) and Internet of Things (IoT), among others.
The initiatives on National Programme on Artificial Intelligence to be set up by NITI Aayog, the 5G test-bed in IIT, Madras and the mission to encourage Big Data, Cybersecurity and Robotics announced in the Budget will help promote Industry 4.0. All these would lay the foundation for the proliferation of advanced manufacturing in India while creating new skills and jobs in the country.
Revitalizing Healthcare Sector in India. It is generally believed that developing a robust healthcare system is a cornerstone for rapid economic and societal development as it helps harness the latent potential of our populace. A healthy population is a pre-requisite for improv- ing human productivity reducing poverty, enhancing living standards and thereby achieving growth with inclusion. In this connection, it is noteworthy that the Union Budget 2018- 19 has introduced the National Health Protection Scheme (NHPS) to provide bene ts to 500 million people with an an- nual limit of Rs 5 lakhs for hospitalisation.
Turin Startup Ecosystem 2024 - Ricerca sulle Startup e il Sistema dell'Innov...Quotidiano Piemontese
Turin Startup Ecosystem 2024
Una ricerca de il Club degli Investitori, in collaborazione con ToTeM Torino Tech Map e con il supporto della ESCP Business School e di Growth Capital
Seminar: Gender Board Diversity through Ownership NetworksGRAPE
Seminar on gender diversity spillovers through ownership networks at FAME|GRAPE. Presenting novel research. Studies in economics and management using econometrics methods.
How to get verified on Coinbase Account?_.docxBuy bitget
t's important to note that buying verified Coinbase accounts is not recommended and may violate Coinbase's terms of service. Instead of searching to "buy verified Coinbase accounts," follow the proper steps to verify your own account to ensure compliance and security.
The European Unemployment Puzzle: implications from population agingGRAPE
We study the link between the evolving age structure of the working population and unemployment. We build a large new Keynesian OLG model with a realistic age structure, labor market frictions, sticky prices, and aggregate shocks. Once calibrated to the European economy, we quantify the extent to which demographic changes over the last three decades have contributed to the decline of the unemployment rate. Our findings yield important implications for the future evolution of unemployment given the anticipated further aging of the working population in Europe. We also quantify the implications for optimal monetary policy: lowering inflation volatility becomes less costly in terms of GDP and unemployment volatility, which hints that optimal monetary policy may be more hawkish in an aging society. Finally, our results also propose a partial reversal of the European-US unemployment puzzle due to the fact that the share of young workers is expected to remain robust in the US.
5 Tips for Creating Standard Financial ReportsEasyReports
Well-crafted financial reports serve as vital tools for decision-making and transparency within an organization. By following the undermentioned tips, you can create standardized financial reports that effectively communicate your company's financial health and performance to stakeholders.
2. Elemental Economics - Mineral demand.pdfNeal Brewster
After this second you should be able to: Explain the main determinants of demand for any mineral product, and their relative importance; recognise and explain how demand for any product is likely to change with economic activity; recognise and explain the roles of technology and relative prices in influencing demand; be able to explain the differences between the rates of growth of demand for different products.
Yes of course, you can easily start mining pi network coin today and sell to legit pi vendors in the United States.
Here the telegram contact of my personal vendor.
@Pi_vendor_247
#pi network #pi coins #legit #passive income
#US
how to sell pi coins in South Korea profitably.DOT TECH
Yes. You can sell your pi network coins in South Korea or any other country, by finding a verified pi merchant
What is a verified pi merchant?
Since pi network is not launched yet on any exchange, the only way you can sell pi coins is by selling to a verified pi merchant, and this is because pi network is not launched yet on any exchange and no pre-sale or ico offerings Is done on pi.
Since there is no pre-sale, the only way exchanges can get pi is by buying from miners. So a pi merchant facilitates these transactions by acting as a bridge for both transactions.
How can i find a pi vendor/merchant?
Well for those who haven't traded with a pi merchant or who don't already have one. I will leave the telegram id of my personal pi merchant who i trade pi with.
Tele gram: @Pi_vendor_247
#pi #sell #nigeria #pinetwork #picoins #sellpi #Nigerian #tradepi #pinetworkcoins #sellmypi
1. 1
Message from Mr Chandrajit Banerjee,
Director General, CII
T
he G20 deals with
a complex group of
countries constituting
the most advanced,
fast-evolving emerging
economies as well as developed
economies with their uncompromising
trade dynamics and demands. This
forum has been playing an extremely
constructive role to streamline
global efforts in order to restore
growth and build the resilience of
financial institutions and national
economies.
The G20 is now positioned towards
achieving a strong, shared and
sustainable global growth. India has
emerged as an important member of
the G20 by being able to contribute
and influence the
reshaping of the global
economic and financial
order.
The October edition
of the Newsletter
outlines the Indian priorities and the
road ahead for the G20; provides brief
information on the happenings at
the World Bank, Asian Development
Bank (ADB), International Finance
Corporation (IFC), World Trade
Organization (WTO), International
Trade Centre (ITC) and highlights
the key remarks made by the
Minister of State for External
A f f a i rs a t t h e 8 t h I B S A
Trilateral Ministerial Commission
Meeting.
iNSIDE
Focus Story
India and G20: The Road Ahead���������� 2
World Bank
Europe and Central Asia Region Sees
Stronger Growth, Amidst Rise in
Migration������������������������������������������������ 4
Reducing Risks in Developing
Countries is Key to Spur Investment
and Growth�������������������������������������������� 5
aDB
ADB, India Sign $65.5 Million Loan
to Support Coastal Protection in
Karnataka����������������������������������������������� 6
Strong Asian Intraregional Trade
and Investment Improve Economic
Resilience����������������������������������������������� 7
Asian Development Bank, New
Development Bank Meet to Discuss
New Project Cofinancing���������������������� 8
ADB Expands Clean Energy Project in
India with AIIB Cofinancing���������������� 9
iFC
IFC Helps Structure India’s First
Hybrid-Annuity PPP for Sewage
Treatment, Boosts National Clean
Ganga Mission������������������������������������� 10
WTO
B20 lobbies for open and inclusive
trade at WTO Public Forum�������������� 11
ITC
Making trade work for small business
and the 99%���������������������������������������� 12
IBSA
Highlights of the opening remarks
by Gen. (Dr.) V K Singh (Retd.),
Minister of State for External Affairs
at 8th IBSA Trilateral Ministerial
Commission Meeting, Durban����������� 13
October 2017, Volume 4, Issue 10
2. 2
T
he G20 represents the world’s
most powerful economic club,
bringing together 20 most
developed and emerging economies in
the world, spread across five continents.
The forum has played extremely
constructive role to frame the world’s
efforts to restore growth and build the
resilience of financial institutions and
national economies.
India has an ambitious multi-pronged
agenda for the G20 summit that ranges
from deploying global surpluses for
infrastructure development, inclusive
development to energy efficiency,
Digitization and develop high-end
value manufacturing and global value
chains.
Considering India’s socio-economic
development and priorities of the ruling
government, given below are some of
the important areas that are of India’s
as well emerging world’s interests.
The continuing digital revolution that the
world is witnessing has powered dramatic
evolution of numerous technologies and
business models, sparking creative
disruptions to the way we live and work.
Two billion people today are connected
to the Internet, and this number is
growing by 200 million every year. The
global e-commerce industry generates $8
trillion each year.
This provides countless opportunities to
business as well as society. Efficient and
effective use of digital technologies has
become key to the competitiveness and
growth prospects of business today. As
digitization is inevitable, G20 can lead
discussions on the possible impacts of
Digitization on global trade, improve
digital infrastructures for G20 countries,
connecting underdeveloped countries
with the world digitally, harmonizing
policies, regulations, and standards,
F oc u s S tor y
India and G20: The Road Ahead
digitization of government processes,
etc.
Digitization
Fast digitization is bringing new
opportunities as well as challenges.
The G20 can help developing and
underdeveloped countries to deal with
the new regulatory and economic
challenges for governments, provide
the right access, protection and use
of personal data and fostering digital
trust, help design new disruptive
business models and complexity behind
technology, digital divide and its negative
socio-economic impact on business and
society, etc.
For India, Internet of things, increased
electronic connectivity and an increase
in the number of active users of online
services, has resulted in the creation of
a digital ecosystem, where goods and
services providers interact in a symbiotic
relationship with consumers online. The
digital ecosystem is allowing the creation
of opportunities that add novel social
and economic value. This emerging
digital ecosystem is also presenting new
challenges for government to formulate
policies that will shape the digital
ecosystem. Countries across the world
are aiding the creation of sustainable
digital ecosystems to support the growth
of their economies.
Digitization is very important for
India with such large population. The
government has launched ‘Digital India
mission’ to connect India digitally which
would be synchronized with the Ease of
Doing Business indicators for industry
so that a single window online platform
is created. The e-Biz digital platform is
already underway, and the government
has commenced the task of placing
forms and applications online.
Sustainability
The world needs to develop sustainable
consumption and production patterns
for the future generations. The global
community needs to address a range
of key issues including meeting the
current requirements, improving the
standards of living, achieving resource
efficiency, using renewable energy
sources, waste management, study the
life cycle perspectives of products and
services and the equity dimension.
In addition, according to an UNEP-
IRP Study, increasing efficiency in
resource management can lead to
global greenhouse gas emissions cut
by 74%, jobs creation and robust
economic growth. G20 can develop
Global Resource Efficiency Framework
to outline short, medium and long-term
action plans. Discussion at the G20 level
would sensitize the issue globally.
Resource Efficiency
Because there are diverse cultural,
societal, economic and politico-legal
frameworks co-existing globally, the
understanding and implementation
mechanisms on resource efficiency
among businesses and society are
wide-ranging. G20 can help develop
a common international framework
of understanding and implementation
to boost international cooperation in
Resource Efficiency.
Indian industry would have a few
concerns and observations - RE and
Trade Barriers: There are apprehensions
that strict regulation to enable
implementation of RE in some countries
will result in loss of competitiveness
due to less stringent measures in other
countries. Therefore, it is suggested that
there is a need for coordinated efforts by
member countries.
3. 3
is considerably low. India has to do
vertical specialization in its product
basket and extend its expertise in high
value manufacturing.
The G20/B20 has been playing extremely
constructive role to streamline the
world’s efforts in order to restore growth
and build the resilience of financial
institutions and national economies.
With over six years of rigorous efforts to
recover from the crisis, the G20 is now
perfectly positioned towards achieving
a strong, shared and sustainable global
growth.
As industry has become the driving
force behind global growth, role of B20
has become all the more important. The
Confederation of Indian Industry (CII)
acknowledges this and its commitment
is reflected by CII’s strong delegation and
policy advocacy in each of the G20/B20
Presidencies.
F o c u s S t o r y
India, along with other emerging
economies, is concerned about the volatile
capital flows resulting from quantitative
easing of advanced economies, which
are affecting economies of emerging
countries and hence the burden should
be shared. Indian is also in favor
of defending the capital controls as
legitimate and acceptable defence
against speculative capital flows and
press for creating an effective framework
for the adjustment process.
India and developing countries need
to develop institutions to get large
stakeholders into the Value Chains
and enhancing capacities of standards
stakeholders. There is need for substantial
investments in this area.
In the most globalized world, there
should be multilateral institutions
should help emerging and third-world
countries to design and implement
‘Global Integration Strategy.’ G20 can
help and facilitate to develop integration
strategies that not only meets their
domestic geo-economic aspirations but
also be a voice for other countries with
similar developmental phase.
India can align its “Act East” policy,
“Connect Central Asia” policy, FTAs
with ASEAN, negotiation for RCEP
membership, a renewed focus on the
neighborhood policy, etc. with its much
broader Global Integration Strategy.
Other than these, India should also
develop product and market diversification
Strategies. The US and EU are India’s
main export markets. India needs to
diversify its export markets to other
regions. Indian exports are highly
concentrated on petroleum, gems
jewelry and other labour intensive
products and less on manufactured
items. India has to match its exports with
the composition of global trade.
India’s product basket for the global
market is very wide but value addition
4. 4
W O R L D B A N K
E
conomic growth for the Europe
and Central Asia region will reach
2.2% in 2017, according to the
World Bank’s latest Regional Economic
Update, Migration and Mobility in
Europe and Central Asia. This represents
the strongest growth in the region since
2011, and is 0.3 percentage points
above the Bank’s previous forecast in
May 2017.
Growth in Europe and Central Asia
comes on the back of stronger industrial
production and more exports in recent
months, lifting most countries in the
region out of recession. Unemployment
rates have dipped below pre-financial
crisis levels in several countries,
while labor participation rates have
simultaneously risen above their 2008
levels.
Despite these important gains, however,
the region still faces challenges that
are testing political and economic
cohesion. According to the report,
new technologies are impacting the
distribution of income and wealth, with
many workers struggling to adjust to
the new skills demand of the digital
economy. In addition, the number of
full-time, permanent jobs as a share
Europe and Central Asia Region Sees Stronger
Growth, Amidst Rise in Migration
of total employment has declined, as
flexible contracts become the dominant
employment arrangement for younger
workers. This rise in the share of
flexible contracts is increasing the
efficiency of firms and individuals, but
also creating new forms of inequality
and insecurity.
“Growth is returning to the region, which
is certainly good news,” says Hans
Timmer, World Bank Chief Economist
for Europe and Central Asia. “At the
same time, however, new technologies
that provide new growth opportunities
are bringing about more flexible labor
contracts and more uncertainty. This
has increased anxiety among people.
And recent concerns over the influx of
refugees can be seen as a manifestation
of that heightened anxiety.”
The Europe and Central Asia region
has experienced a sharp increase in
the numbers of refugees and asylum
seekers in recent years, from 3.7 million
in 2014 to 6.4 million in 2016. This
large influx has created new challenges
and heightened public concern over
migration. The report finds, however, that
refugees and asylum seekers account for
only a small share of total migrants in
countries across the region – with the
exception of Turkey, which was host to
3.1 million refugees in 2016.
Migration has played an important role in
meeting demands for labor, supporting
trade, and encouraging foreign direct
investment in countries across Europe
and Central Asia, says the report.
Migration also promotes the transfer of
knowledge between host countries and
countries of origin – increasing exposure
to flows of information that can create
economic benefits.
The report recommends that countries
in the region pursue policies that ensure
the successful integration of migrants
into society, in order to fully exploit
the benefits of migration. But policies
should not focus on migration challenges
in isolation. Rather, reforms should
help both migrants and non-migrants
alike cope with rapid technological
development and increased flexibility
in labor markets, thereby reducing
insecurity and sharing the benefits of
economic growth more broadly across
society.
Click here for more information
5. 5
W O R L D B A N K
A
stable business environment,
effective regulations, and political
stability are among the key
drivers of foreign direct investment (FDI)
into developing countries, according to
a new survey released by the World
Bank Group.
The survey of 750 executives of
multinational corporations is part of
the Global Investment Competitiveness
Report 2017–2018, the first of a
biennial series exploring the drivers
of investment competitiveness in
developing countries. The report
finds that international investors
prioritize political stability, security,
macroeconomic conditions, and
conducive regulatory environment
when deciding where to make
investments that can spur growth
and create jobs.
Combining a survey of global investors
with analysis of investment policy
Reducing Risks in Developing Countries is Key to
Spur Investment and Growth
issues makes this report a powerful
contribution to our understanding of how
developing countries—including fragile
states—can de-risk their economies and
unlock FDI.
The report explores how FDI creates
growth opportunities for local firms,
assesses the power of tax holidays
and other fiscal incentives to attract
FDI, analyzes characteristics of FDI
originating in developing countries,
and examines the experience of foreign
investors in countries affected by conflict
and fragility. Combining first-hand
investor perspectives with extensive
research and data analysis, the report
highlights the importance of a conducive
and low-risk investment climate for
multinational as well as local companies.
It recommends specific reforms that
can help countries attract foreign
investment and maximize its benefits
for development.
“The Global Investment Competitiveness
Report goes beyond an examination of
broad trends in foreign investment. It
explores key drivers of FDI in depth,”
said IFC Chief Economist Ted H. Chu.
“It also offers practical and actionable
recommendations to help developing
countries ensure they get the most out
of international investment.”
Click here for more information
“A business-friendly legal and
regulatory environment—along
with political stability, security, and
macroeconomic conditions—are key
factors for multinational companies
making investment decisions in
developing countries”
Anabel Gonzalez
Senior Director
World Bank Group’s Trade
Competitiveness Global Practice
6. 6
T
he Asian Development Bank
(ADB) and the Government of
India have signed a $65.5 million
loan agreement to continue interventions
to check coastal erosion on the western
coast in Karnataka.
ADB, India Sign $65.5 Million Loan to Support
Coastal Protection in Karnataka
“Coastal area development is one of
the priority sectors for Government
of India. The program has introduced
innovative techniques for managing
coastal erosion that will ultimately
benefit local communities, and would
also help address concerns pertaining
to the climate change”
Sameer Kumar Khare
Joint Secretary (Multilateral
Institutions) Department of
Economic Affairs
Ministry of Finance
“The investment program has already
demonstrated the benefit of adoption
of softer options such as artificial
reefs, beach nourishments, and dune
management for coastal protection.
The project will consist of eight
coastal protection subprojects to
address the issues of medium to
severe coastal erosion resulting in
protection of about 54 kilometers of
coastline in Karnataka”
Kenichi Yokoyama
Country Director India
ADB
The second tranche loan from ADB’s
ordinary capital resources has a 20-
year term. The State of Karnataka,
acting through its Department of Public
Works, is responsible for implementation
of overall program, which is due for
completion by September 2020.
Click here for more information
a db
and Management Investment Program.
The financing will be used to address
immediate coastal protection needs and
strengthen Karnataka’s Public Works,
Ports, and Inland Water Transport
Department.
Karnataka’s coast supports the state’s
major economic sectors, which include
fisheries, agriculture, tourism, ports, and
other major transport and communication
sectors. Coastal erosion in the state,
where the project is focused, poses a
high risk to human wellbeing, economic
development, and ecological integrity
through loss of land, infrastructure, and
business opportunities. Under increasing
threat from climate change impacts,
coastal protection and management
has evolved as a major challenge to
development. Effective and sustainable
management of the shoreline is thus
vital to sustainable economic and social
development of the coastal regions in
the state.
The loan is the second tranche of a
$250 million financing facility under
the Sustainable Coastal Protection
7. 7
Strong Asian Intraregional Trade and Investment
Improve Economic Resilience
G
rowing trade and investment
linkages in Asia and the Pacific
help improve the region’s
economic resilience to uncertainties in
the global economic and trade policy
environment, according to a new Asian
Development Bank (ADB) report.
The Asian Economic Integration
Report 2017 (AEIR), ADB examines
recent regional integration trends and
introduces a new regional integration
index. The report also includes a special
chapter on how Asia can strengthen
financial resilience in an era of financial
interconnectedness.
Strong intraregional trade and investment
are acting as a buffer for the region
against uncertainties in global trade
and economic growth, according to
the report. In 2016, Asia’s intraregional
trade share―measured by value―rose to
57.3% in 2016, a record high, up from an
average of 55.9% from 2010 to 2015.
Foreign direct investment (FDI) within
Asia rose in absolute value to reach $272
billion in 2016, despite a 6% decline in
global FDI flows into the region. This
intraregional FDI increased as a share of
total FDI to the region from 48% in 2015
to 55% in 2016. Given the role intra-
Asian FDI plays in enhancing global
and regional value chain development,
this is expected to help strengthen the
region’s trade growth globally.
Asian economies have continued
expanding their global presence, with
FDI originating from Asia rising 11%
in 2016 to $482 billion, primarily
through investment in renewable energy,
and social integration. The index is
aimed at helping policymakers better
understand and measure the levers
for greater regional integration and
cooperation.
The report also features a special
chapter on how Asia can strengthen
financial resilience in an era of financial
interconnectedness. It highlights that 20
years after the Asian financial crisis,
Asia stands strong, with healthier
financial systems, stronger regulations,
and better regional financial cooperation
mechanisms.
T h e r e p o r t o f f e r s s e v e r a l
recommendations for countries in the
region to strengthen their resilience to
future crises, including maintaining sound
macroeconomic fundamentals; further
strengthening national regulatory and
supervisory frameworks and institutional
capacities; further developing local
currency bond markets; strengthening
regional regulatory cooperation,
including resolution mechanisms for
interconnected regional banks; and
reviewing and strengthening existing
financial safety nets against potential
contagion and spillover effects.
Click here for more information
“Asia and the Pacific is leading a
recovery in world trade that is helping
the region to maintain strong growth
momentum amid global economic
and trade policy uncertainty”
Yasuyuki Sawada
ADB’s Chief Economist
a db
natural resources, semiconductors, and
information technology.
The 2017 AEIR introduces a new
composite index, the Asia-Pacific
Regional Cooperation and Integration
Index. The index measures regional
integration across six components,
including trade and investment,
money and finance, regional value
chains, infrastructure and connectivity,
movement of people, and institutional
8. 8
A
sian Development Bank (ADB)
Vice-President Wencai Zhang
met with New Development
Bank (NDB) Vice President and Chief
Operations Officer Xian Zhu on the
sidelines of the World Bank-International
Monetary Fund Annual Meetings
to discuss progress on projects for
cooperation.
The two institutions have been
working to identify their first projects
for cofinancing. Preparatory work is
underway on two potential projects
in India—the Mumbai Metro Railway
Project in Maharashtra and Indore Metro
Railway Project in Madhya Pradesh.
Project appraisals have recently begun
for both projects, for which ADB and
NDB teams are working to complete due
diligence, finalize costs, and determine
Asian Development Bank, New Development Bank
Meet to Discuss New Project Cofinancing
through inclusive economic growth,
environmentally sustainable growth,
and regional integration. Established
in 1966, ADB is celebrating 50 years of
development partnership in the region. It
is owned by 67 members—48 from the
region. In 2016, ADB assistance totaled
$31.7 billion, including $14 billion in
cofinancing.
NDB is a new multilateral development
bank based in Shanghai. It was setup in
2015 by five BRICS countries focusing
on infrastructure and sustainable
development. In the first year of
operations, NDB provided infrastructure
financing of $1.5 billion to member
countries.
Click here for more information
a db
cofinancing arrangements.
“ADB and NDB are making good progress
as we look to expand cooperation and
leverage each other’s financing to
maximize development benefits in our
member countries,” Mr. Zhang said.
A memorandum of understanding
on cooperation was signed by ADB
President Takehiko Nakao and NDB
President K.V. Kamath in Manila in July
2016. Through cofinancing and joint
knowledge work, the two institutions
will work together in areas such as
renewable energy, energy efficiency,
clean transportation, sustainable water
management, and sewage treatment.
ADB, based in Manila, is dedicated to
reducing poverty in Asia and the Pacific
9. 9
a db
ADB Expands Clean Energy Project in India with
AIIB Cofinancing
T
he Asian Development Bank
(ADB) has agreed to finance
additional power transmission
network components with cofinancing
from the Asian Infrastructure Investment
Bank (AIIB) that will connect with an
ADB-financed Green Energy Corridor
and Grid Strengthening Project in
India.
In support of the Indian government’s
Green Energy Corridor initiative, ADB’s
Board of Directors approved in December
2015 two loans to build and upgrade
inter-regional grid systems between
the western and southern regions, and
high voltage transmission lines and
substations in the northern region. The
system will mainly deliver solar and wind
energy to wider locations in India. The
ADB financing for this comprised a $500
million government-backed loan and a
further $500 million in non-sovereign
lending to India’s national transmission
company, Power Grid Corporation of
India Limited (POWERGRID).
To increase energy delivery to more
provinces in India, the project will now
be expanded to include 400 kilovolt
transmission components in Tamil
Nadu to connect at Pugalur with the
long-distance grid systems financed
by ADB. ADB will provide $50 million
from savings from the earlier loans
while AIIB’s Board of Directors yesterday
approved cofinancing of $100 million
Since 2016, ADB has cofinanced four
projects with AIIB, beginning with the
M4 expressway development in Pakistan
approved in June 2016 for which ADB
and AIIB are each providing $100
million. Second is a project to improve
natural gas production and transmission
in Bangladesh, financed by $167 million
from ADB approved in November 2006
and $60 million from AIIB. The third is
a project to build a bypass road skirting
the port city of Batumi, Georgia’s second
largest city, financed by $114 million
from ADB approved in March 2017
with the same amount coming from
AIIB. In these three cofinanced projects,
ADB administers wholly or partially the
assistance provided by AIIB. For the
India transmission project, ADB and
AIIB will administer each of their loans
in parallel, and collaborate on the basis
of the cofinancing arrangement.
Click here for more information
“We are pleased that this first AIIB
cofinanced project in India will bring
clean energy to more people and help
the country achieve its ambitious
renewable energy targets”
Priyantha Wijayatunga
Director of ADB’s Energy Division
in its South Asia Department
for this component, which has a total
cost of $303.5 million. POWERGRID
will finance the remainder.
10. 10
I
ndia’s National Mission for Clean
Ganga, and the state governments
of Uttarakhand and Uttar Pradesh,
signed the first two agreements with
private sector companies to build
sewage treatment plants in Haridwar
and Varanasi.
IFC Helps Structure India’s First Hybrid-Annuity
PPP for Sewage Treatment, Boosts National Clean
Ganga Mission
“These projects are the country’s first
two hybrid annuity projects for the
development of sewage infrastructure.
They will ensure that untreated
sewage from these cities does not
flow into the Ganga, giving a boost
to our flagship Namami Gange
program”
U.P. Singh
Director General
National Mission for Clean Ganga
“Hybrid annuities are widely used
globally to make payments for large-
scale infrastructure projects. Adopting
these in the sewage sector for flagship
Namami Gange program for the first
time will help deepen private sector
engagement in this vital space. In
partnership with the state and central
government, we are introducing a
bankable model that can be used
to roll out similar PPP projects in
more than 100 cities in the Ganges
basin”
Mengistu Alemayehu
IFC’s Director for South Asia
improving the water quality in the
Ganga basin.
As the lead transaction advisor, IFC
helped design the hybrid annuity
structure, balancing public and market
risks and creating a competitive bidding
process. The market response was
unprecedented with Varanasi receiving
eight bids and Haridwar, six bids.
Click here for more information
I F C
project cost linked to construction
milestones. The remaining 60 percent
is paid over 15 years as annuities to
the private concessionaire along with
operation and maintenance expense.
This makes the project more viable for
the concessionaire.
In Haridwar, HNB Engineers Private Ltd.
won the contract to construct, operate,
and maintain a sewage treatment plants
with an aggregate capacity of 82 million
liters per day (MLD). In Varanasi, a
consortium led by Essel Infra Projects
Ltd will develop a 50 MLD sewage
treatment plant. The construction period
for these projects is around 2 years and
the operation and maintenance period
15 years.
Over three-quarters of the sewage
generated in the towns and cities
flows untreated into the 2,525-km long
Ganga river, which is a water source
for 400 million people, or 43 percent
of India’s population. About 3036 MLD
sewage is generated from 118 towns
in 11 states. Only 50 percent of this
is treated. Successful implementation
of this program will help millions by
IFC and DevCo, a multi-donor facility
affiliated with the Private Infrastructure
Development Group, helped structure
this first public private partnership for
sewage treatment using hybrid-annuity
payment model.
Under the hybrid-annuity model, the
government pays 40 percent of the
11. 11
goals, e.g. on decent work standards and
environmental protection. The answers
to the question regarding the necessary
next steps were more diverse, ranging
from more capacity building in least
developed countries to facilitate the
participation in trade to more assertive
action via bilateral agreements to enforce
international labour and environmental
commitments. In a working session
organized by the World Economic Forum
on the legitimacy of global trade and
the question “What works, and what
needs work”, Stormy-Annika Mildner
acted as one of the “discussion leaders.”
The discussion leaders managed the
debate among groups of the audience
and later on presented the key findings
for the discussion in the plenary. The
unique structure of the working session
activated the whole audience and lead
to a very productive debate.
Most participants agreed that more
international trade and, especially, more
international trade rules are needed
despite increasing critic regarding free
trade initiatives and globalization by
politicians and civil forces in many WTO
member countries. However, the greatest
task would be on national level in order
to make trade work for everyone and help
people to adjust to the changes caused
by the globalization.
Click here for more information
M
ore than 1,500 trade experts
from the private sector as well
as officials met in Geneva
for this year’s WTO Public Forum. B20
Argentina Chairman Daniel Funes de
Rioja, B20 Germany Sherpa Stormy-
Annika Mildner, and ICC Secretary
General John Danilovich used this
opportunity to discuss with WTO
Director General Roberto Azevêdo the
future of the trade and the multilateral
trade regime. All agreed to continue the
close cooperation between business and
the WTO and the so called Business
Focus Groups in order to feed in the
business expertise into the WTO
process. The WTO Director General
confirmed that the recommendation of
the Business Focus Groups and B20
Germany, e.g. on e-commerce, SME’s as
well as trade in services and investment
facilitation, contributed positively to the
debate among members in the run-up to
the 11th Ministerial Conference (MC11)
in December 2017 in Buenos Aires. At
the side-lines of MC11, on 12 December
in Buenos Aires, a Business Forum will
be organized.
At a working session of the WTO
Public Forum titled “Open and Inclusive
Trade – a Progressive Trade Agenda
for the benefit of all” jointly organized
by B20 Germany and Argentina, the
G20 and its impact on global trade
stood at the heart of the discussions.
B20 lobbies for open and inclusive trade at WTO
Public Forum
Ambassador Walter Hugo Werner,
Head, WTO Unit, Permanent Mission
of Germany in Geneva, emphasised that
the G20 leaders were able to agree on a
joint outcome on trade and investment
at the G20 Summit in Hamburg –a great
success, having in mind the opposing
views of participants in the preparation
phase. Shunko Rojas, Undersecretary of
Foreign Trade, Ministry of Production,
Argentine Republic, presented his ideas
regarding the Argentinian presidency,
among them a new focus on agriculture
and food and education and labour. The
business representatives on the panel,
Daniel Funes de Rioja, John Danilovich,
and Stormy-Annika Mildner, underlined
their commitment to the G20 process.
They also recalled the business
recommendations to maintain and
develop the multilateral trading system
according to the needs of modern
business.
Also at the WTO Public Forum,
Stormy-Annika Mildner, in her role
as Chair of the WTO Working Group
of BusinessEurope, moderated the
working session of this European
umbrella organization on “Can the WTO
promote sustainability and trade? –
looking beyond the Doha Development
Agenda.” All participants in the very
lively debate agreed that trade as well
as the WTO can and should play a
positive role in promoting sustainability
W TO
12. 12
T
he17th
WorldExportDevelopment
Forum (WEDF) was opened by
Hungarian President János Áder,
Minister of Foreign Affairs and Trade
Péter Szijjártó and Arancha González,
Executive Director of the International
Trade Centre. More than 600 delegates
from 60 countries are attending the event
in Budapest, Hungary.
Hosted by the International Trade Centre
(ITC) and Hungary’s Ministry of Foreign
Affairs and Trade, participants will be
exploring how trade can be a driver of
inclusive growth and job creation under
the theme ‘Trade – a Force for Good:
Include, Innovate, Integrate’.
Pointing to the need to make trade
more sustainable, President Áder said:
‘Instead of using only the interest on
the natural capital available to us, we
are running down the capital itself. We
are accumulating debts against nature,
debts that will have to be paid in the
long run.
ITC and the Government of Hungary
attach significant importance to the role
of small and medium-sized enterprises
(SMEs) in contributing to trade-led
growth and job creation. In Hungary,
as in most other economies, SMEs
form the backbone of the economy,
Making trade work for small business and the 99%
More than 600 delegates meet in Hungarian capital to explore inclusive trade
and do business
Ms. González added: ‘Trade is not an end
in itself. Trade is simply a tool – though
an important tool – for the productivity
of businesses, the competitiveness of
national economies, and for growth,
value addition, and job creation. Giving
up this tool, by closing markets, would
diminish growth and opportunities for
future generations.
‘The real question is not trade: yes or
no? It is not about whether to trade. It
is about how to make trade work for
the 99%. It is about how to make trade
work for environmental sustainability,
for gender equality, and for the United
Nations Sustainable Development
Goals.’
WEDF 2017 threw a spotlight on issues
shaping global trade and business, from
new regional trade routes such as China’s
Belt and Road Initiative to the links
between innovation and competitiveness.
Participants will also explore how to
best leverage the opportunities presented
by more environment-friendly business
models and focus on women’s economic
empowerment through ITC’s Shetrades
initiative..
Click here for more information
I T C
representing over 90% of all businesses
and contributing to over two-thirds of
employment. Enabling more SMEs to
connect to international markets would
ensure that the gains from trade are
more broadly distributed across the
workforce.
Arancha González, Executive Director
of the International Trade Centre, said:
‘Trade is a central part of a country’s
growth and economic strategy. Open
regional and global markets allow
businesses to import ideas and capital,
and export increasingly sophisticated
goods and services. Hungary is a case
in point: integration into European
value chains has been a big part of
this country’s economic transformation
since 1989.’
Hungary’s Minister of Foreign Affairs
and Trade Péter Szijjártó said: ‘This is
the first ever World Export Development
Forum held in a Central European
country. This is a clear proof that
Central Europe is on its way to become
the growth engine of Europe and the
European Union. WEDF, ITC and
Hungary have the same strategy when
it comes to support for SMEs. Our
goal is to radically increase the role
and the weight of SMEs in our export
activities.’