GJ Town India

India the attractive investment destination for globe!   Piyush Goyal, Union Minister of Commerce & Industry, Consumer Affairs & Food & Public Distribution and Textiles will lead the team India at the World Economic Forum (WEF) in Davos from 23-25 May 2022.   This event would further help reinforce India’s position as an important and relevant stakeholder in shaping the global narrative, particularly as India assumes presidency of the G-20 in 2023. The WEF will also be a platform to project India as an attractive investment destination in view of its robust economic growth and stable macroeconomic indicators.   This year coincides with the World Economic Forum’s 50th anniversary and 35 years of the Forum’s collaboration with India which would provide an opportunity for India to showcase its unified presence including the centre and states. To mark 75 years of Independence and, Azadi ka Amrit Mahotsav, DPIIT has taken the initiative to have a consolidated marquee India

To Rebound to 9.9% in FY22   The quantum of negative gross domestic product (GDP) growth of 23.9% recorded in 1Q FY21 is much higher than India Ratings and Research’s (Ind-Ra) forecast of 17.0%, because of the impact of the COVID-19 pandemic and resultant lockdown. The agency has, therefore, revised its FY21 GDP growth forecast further downward to negative 11.8% from negative 5.3%.   The negative 23.9% growth in 1QFY21 is the first contraction in quarterly GDP data series which have been made available in the public domain since 1Q FY98. The economic loss in FY21 is estimated to be INR18.44 trillion. However, GDP is expected to rebound and grow at 9.9% YoY in FY22 mainly due to the weak base of FY21.   All indicators, be it mobility or consumption, are pointing towards a much weaker economic recovery. Out of 35 states/union territories (UTs), workplace mobility improved only in 16 states/UTs between end-May and end-August 2020. As the number of COVID -19 infections picked up sign

Can’t be a better opportunity than the present! FM addresses the Conference on ‘Insolvency and Bankruptcy Code-A New Paradigm for Stressed Assets’ via Video Conferencing, being organised by the IBBI jointly with the Consulate General of India, New York, USA; FM: Given the future potential of the Indian economy and the fair process followed under the Code, it is a great opportunity for investors who are seriously thinking about investing in India; There can’t be a better opportunity than the present one which is being offered through the Code; This is the right time and right place to be in India for these kinds of investments. The Union Minister of Finance and Corporate Affairs, Mr. Arun Jaitley said that the scattered regime prior to the enactment of the Insolvency and Bankruptcy Code (IBC), 2016 had impacted the domestic private investment with over capacities in certain sectors coupled with unacceptably high levels of Non-Performing Assets (NPAs) in the Banking System

India’s foreign exchange reserves still provide ample cover of imports and short-term external debt Recently Economic growth jumped to 8.2% YoY in Q2, highest level since early 2016, proves, India is feeling the heat from emerging markets EM turmoil, but is no Turkey or Argentina! Q1 proves, India’s foreign exchange reserves still provide ample cover of imports, says Arjen van Dijkhuizen, Sr. Economist, ABN AMRO. His India Watch said, ‘Growth jumps to 2-year high despite market turmoil! Higher oil prices have driven external deficits up, but external / public debt ratios manageable, FX reserves still comfortable, higher core inflation and rupee weakness have triggered two RBI rate hikes! Parliamentary elections in spring 2019 litmus test for Modi, Further clean-up of banking sector needed! Over the past months, Ems have been hit by a general risk aversion, driven by ongoing Fed rate hikes and general US dollar strength, an escalating trade conflict between the US