Tokyo: Committing himself to 'hard and difficult' decisions for long-term interest of the economy, Prime Minister Manmohan Singh on Tuesday expressed confidence that the economy will return to the growth path of 8 per cent.
Inviting Japanese investments in the infrastructure sector, he told captains of industry here that a target of USD 1 trillion has been set for the sector in the 12th Five Year Plan (2012-17), and hoped that Japanese businessmen will pick up a large share of these opportunities.
"Our people have tasted benefits of rapid growth and they will not settle for less. I want to assure you that our government is committed to taking hard and difficult decisions in the long-term interest of our economy," he said at a meeting of the Nippon Keidanren, the premier chamber of commerce and industry.
The 5 per cent growth witnessed last year should be seen as a 'temporary slow down', he said, adding "the Indian economy grew at an average of 8 per cent per year over the past decade. "The economic fundamentals which made that possible are still intact. We are confident therefore that we can return to the growth path of 8 per cent."...
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08:44 PM, May 28, 2013
New Delhi: Low investments, particularly in infrastructure sector, have been a "big bottleneck" to the Indian economy and holding up the growth, Prime Minister Manmohan Singh has said, adding the government is trying to address the problem. "Our principal concern is to strengthen the impulses to accelerate the process of investment, particularly the investment in infrastructure which has been a big bottleneck which has held up our growth process," the...
05:55 AM, May 27, 2013
New Delhi: With a view to seek foreign investments, Finance Minister P Chidambaram will be visiting Dubai on Sunday to sell India's growth story to sovereign wealth funds. The Minister is scheduled to meet his counterpart in Dubai and also hold bilateral consultations with the SWFs (Sovereign Wealth Funds) in his day-long visit to the Gulf nation, an official source said. The visit is part of Chidambaram's global tour to...
03:45 PM, May 25, 2013
Patna: Bihar Chief Minister Nitish Kumar defended on Thursday his repeated demand for special status to the state saying it (the status) will boost private investment in a big way to accelerate its industrial development. "I am pushing for grant of special status to Bihar only to bring private investment in a big way to expedite industrialisation process for generation of employment opportunities," he said in a function at Pataliputra...
12:20 AM, May 17, 2013
New Delhi: The government on Tuesday said it has cleared 17 foreign direct investment proposals totalling Rs 262.56 crore, including that of Sanofi-Synthelabo (India). The proposals were cleared following recommendations by Foreign Investment Promotion Board (FIPB) headed by Department of Economic Affairs Secretary Arvind Mayaram, an official statement said. Sanofi-Synthelabo's proposal was regarding acquisition of a pharma company through internal accruals. The company proposes to bring in FDI worth Rs...
08:55 PM, May 07, 2013
Bhubaneswar: A scam as big as the chit fund fraud in West Bengal has been exposed, but this time it is in Odisha. A CNN-IBN exclusive shows how fraudulent investment companies are duping investors in the state. Investors have been swindled off nearly Rs 20,000 crore by 40 finance companies in Odisha. Seashore Group, one of the companies being probed by Odisha police, has duped over 80,000 investors and collected...
06:38 PM, May 01, 2013
New Delhi: Overseas investors pumped USD 823 million into the stock markets in the month of April, taking the total investment tally to over USD 11 billion in 2013 so far. Foreign institutional investors (FIIs) infused a net amount of USD 823 million (about Rs 4,450 crore) in Indian stock market in March taking the total inflows to USD 11.2 billion (Rs 60,072 crore) in less than four months of...
01:50 PM, Apr 28, 2013
Finance Minister P Chidambaram suggested on Tuesday that the government is unlikely to raise the import tax on gold further to avoid gold smuggling and would instead introduce inflation-indexed instruments to help curb a record current account deficit. ...
12:44 PM, Apr 02, 2013
The Cabinet Committee on Investments, which was set up in January for clearing major infrastructure projects, is expected to give its nod for a number of projects within the next three weeks, Planning Commission Deputy Chairman Montek Singh Ahluwalia has said. "My hope is that the Cabinet Committee on Investment in the course of next two to three weeks, will demonstrate that a number of (infrastructure) projects can get cleared,"...
01:14 PM, Mar 30, 2013
Russia wants the BRICS group of major emerging economies to broaden its role and get more involved in geopolitics, President Vladimir Putin said in an interview published on Friday. ...
05:20 AM, Mar 22, 2013
Finance Minister P Chidambaram on Monday said the government was hopeful about raising Rs 40,000 crore from stake sale in public sector undertakings (PSUs) in the financial year beginning April 1, 2013. ...
02:27 AM, Mar 05, 2013
Aiming to restart the growth engine, Finance Minister P Chidambaram on Monday said he will monitor every quarter the investment plans of public and private sector entities that are sitting on huge cash piles. "Each PSU is required to fill up that proforma, tell us what their capex targets are next year. We will monitor them closely beginning from April, 2013. Every quarter I will monitor what they are investing,"...
11:32 PM, Mar 04, 2013
Ahead of Egyptian President Mohammad Mursi's maiden visit to India, a senior minister discussed ways to advance bilateral economic, trade and investment ties and opening up new avenues of commercial exchanges. ...
10:40 PM, Mar 04, 2013
British companies are looking for opportunities in India, especially in the infrastructure space that is expected to see investments worth USD 1 trillion in five years, according to global consultancy Deloitte. ...
04:05 PM, Mar 04, 2013
French President Francois Hollande on Friday said French companies are willing to invest up to $1 billion in India, but asked New Delhi to take necessary steps to open up the market by removing obstacles. "There are always obstacles to opening markets," Hollande said addressing industry leaders in the financial capital this evening but clarified he is not meddling in the political affairs of this country. ...
09:40 AM, Feb 16, 2013
The sixth edition of the Vibrant Gujarat Global Summit concluded in the state capital Gandhinagar Saturday evening with promises from the Bharatiya Janata Party government of investments worth Rs 40 lakh crore for the state. However, the Narendra Modi government's track record of converting pledged investments into reality has been less than impressive, with even Modi, who swept through the Gujarat elections in December 2012 to become the chief minister...
08:20 AM, Jan 13, 2013
Private equity funds invest over a seven to nine year cycle, so investments that were made in 2006 to 2008 will be the ones that will be ready for harvest. Unfortunately, many of those investments were made on business plans that don't look very achievable now. They all assumed a strong economic growth environment. This problem will be more for some sectors such as industrial goods as opposed to, say,...
11:43 AM, Jan 04, 2013
India's foreign direct investment (FDI) inflows grew by over 65 per cent year-on-year to USD 1.94 billion in October, according to the Department of Industrial Policy and Promotion (DIPP). ...
05:40 PM, Dec 21, 2012
At least seven companies from China, India, South Korea and South Africa continued to have investments in Iran's oil and gas sectors in 2012 even as Tehran came under international scrutiny for its nuclear ambitions, a US government watchdog said on Friday. ...
03:21 AM, Dec 09, 2012
New Delhi: Fitch Ratings has cut its 2012 growth forecasts for India to 6 percent from 6.5 per cent on deteriorating global growth outlook with diminished willingness or capacity to respond with domestic policy loosening, compared with 2009. India's economic outlook remains challenging. Investment rose just 0.7 per cent YoY in second quarter of 2012, with higher-frequency indicators pointing to another weak outturn in Q3. "Ongoing concerns over government economic...
11:48 AM, Sep 28, 2012
