New Delhi, Feb 14 () With less than 10 days left for the visit of US President Donald Trump to India, officials of both the countries are yet to resolve differences in various sectors, including agriculture, poultry and dairy, essential for a trade pact, sources said. They said the deal between India and the US should be mutually beneficial and it should not compromise India's interest. Although talks are going on between the officials of the two countries, there is no clarity if a trade pact will be signed during Trump's two-day visit, beginning February 24. The sources said India has clearly stated that dairy and milk products should not be derived from animals that are fed internal organs, blood meal, or tissues of ruminant origin as it would hurt sentiments of the society at large. Further, they said that after withdrawal of export incentives by the US, under its Generalized System of Preferences (GSP) programme, India's exports of those products to America have recorded a growth of about 11 per cent in December. Under GSP, India was exporting 1,900 items from sectors like chemicals and engineering. It was rolled back by the US last year. Meanwhile, the expected visit of US Trade Representative Robert Lighthizer this month, ahead of the Trump's visit, to discuss the trade package with India is unlikely, an official said. "Lighthizer was supposed to hold discussions with commerce ministry team but as of now, he is not coming," the official said. The visit of USTR assumed significance as Indian and US officials are engaged in talks for a limited trade deal. The two countries are negotiating a trade package to iron out certain issues and promote two-way commerce. India is demanding exemption from high duties imposed by the US on certain steel and aluminium products, resumption of export benefits to certain domestic products under their GSP, and greater market access for its products from sectors such as agriculture, automobile, automobile components and engineering. On the other hand, the US wants greater market access for its farm and manufacturing products, dairy items, medical devices, and data localisation, apart from cut on import duties on some information and communication technology products. The US has also raised concerns over high trade deficit with India. In 2018-19, India's exports to the US stood at USD 52.4 billion, while imports were USD 35.5 billion. Trade deficit dipped from USD 21.3 billion in 2017-18 to USD 16.9 billion in 2018-19. India received FDI worth USD 3.13 billion from the US in 2018-19, higher than USD 2 billion in 2017-18. RR CS HRS

India, US yet to resolve issues for trade deal: Sources

New Delhi, Feb 12 () Officials of India and the US are engaged in hectic parleys for a proposed trade deal between the countries ahead of the visit of US President Donald Trump here later this month, an official said. However, the official said that as of now there is no clarity if the trade pact will be signed during President Trump's visit on February 24-25. Multiple rounds of talks have taken place between Commerce Minister Piyush Goyal and US Trade Representative Robert Lighthizer in the past few weeks over telephone. The two countries are negotiating a trade package to iron out certain issues and promote two-way commerce. India is demanding exemption from high duties imposed by the US on certain steel and aluminium products, resumption of export benefits to certain domestic products under their Generalised System of Preferences (GSP), and greater market access for its products from sectors like agriculture, automobile, auto components and engineering. On the other hand, the US wants greater market access for its farm and manufacturing products, dairy items and medical devices, data localisation, and cut on import duties on some information and communication technology (ICT) products. The US has also raised concerns over high trade deficit with India. In 2018-19, India's exports to the US stood at USD 52.4 billion, while imports were USD 35.5 billion. Trade deficit dipped from USD 21.3 billion in 2017-18 to USD 16.9 billion in 2018-19. India received FDI worth USD 3.13 billion from the US in 2018-19, higher than USD 2 billion in 2017-18. RR ABMABM

India, US engaged in hectic parleys on trade deal

New Delhi, Jan 29 () US Trade Representative Robert Lighthizer is likely to visit India next month to finalise talks on the proposed trade package between the two countries that could be announced during Donald Trump's tour in coming months, an official said.
 The official said that the USTR along with his team is expected in the second week of February.
 They would hold discussions with the officials of the commerce ministry.
 This visit of USTR assumes significance as Indian and US officials are engaged in talks to finalise dates for a possible visit by US President Donald Trump to India in the coming months.
 The official said that the trade package if finalised could be announced during Trump's visit to India.
 The two countries are negotiating a trade package to iron out issues and promote the two-way commerce.
 India is demanding exemption from high duties imposed by the US on certain steel and aluminium products, resumption of export benefits to certain domestic products under their Generalised System of Preferences (GSP), greater market access for its products from sectors including agriculture, automobile, auto components and engineering.
 On the other hand, the US wants greater market access for its farm and manufacturing products, dairy items and medical devices, and cut on import duties on some ICT products. The US has also raised concerns over high trade deficit with India.
 In 2018-19, India's exports to the US stood at USD 52.4 billion, while imports were USD 35.5 billion. Trade deficit dipped from USD 21.3 billion in 2017-18 to USD 16.9 billion in 2018-19.
 India received FDI worth USD 3.13 billion from the US in 2018-19, higher than USD 2 billion in 2017-18. RR MR
RUJ

US Trade Representative Lighthizer likely to visit India next month to finalise trade package

New Delhi, Jan 8 () Production at Honda Motorcycle and Scooter India's (HMSI) Manesar plant in Haryana and factories of various auto component manufacturers in Manesar-Bawal industrial belt was hit on Wednesday by the day-long strike called by 10 major trade unions against the Centre's "anti-people" policies.
 The strike, however, had no impact on production of auto majors Maruti Suzuki India, Hero MotoCorp and Honda Cars India at their plants in various parts of the country. 
 "Workers in all three shifts at the Manesar plant are not working today in support of the trade union strike," HMSI Employee Union President Suresh Gaur told .
 He said HMSI Manesar plant workers alongwith counterparts from factories of auto component makers Shivam Autotech, Emkay Automobile Industries, Munjal Showa, Napino Auto &amp; Electronics and Talbros, among others have joined in for a day-long protest.
 "Workers at factories in the Manesar-Bawal industrial are supporting the strike and productions have been affected," Gaur claimed.
 When contacted, HMSI officials declined to comment. 
 Workers and officials at Maruti Suzuki, Hero MotoCorp, Honda Cars India confirmed that production was on normally at their respective plants and the strike has had no impact.
 10 central trade unions have claimed around 25 crore people will participate in the nationwide strike called to protest against the union government's labour reforms, FDI, disinvestment, corporatisation and privatisation policies. 
 They are pressing for a 12-point charter of demands of the working class relating to minimum wage and social security, among others.
 The demands also include a minimum pension of Rs 6,000 for everyone, minimum support price (MSP) for farmers, adequate supply of ration to people, AITUC General Secretary Amarjeet Kaur said, adding that the demands concern common man's issues besides worker-centric areas. RKL RVK
RVK

General strike: HMSI Manesar plant, units of component makers at Manesar-Bawal belt hit

(Eds: Recasts overnight story) New Delhi, Feb 5 () India and the US are set to seal a trade deal during President Donald Trump's planned visit to India in the last week of this month, multiple sources said.Trade officials of India and the US are giving final touches to the deal expected to cover specific sectors, they said.Trump is set to visit India on a two-day trip between February 23 and 26 and both sides are in the process of fine-tuning his schedule, sources said.The main segment of the visit will take place in the national capital, though an option of having a short visit by Trump to another city is being explored.The cities being considered include Agra and Ahmedabad.A high-level logistics team from Washington handling Trump's foreign trips visited India last week as part of preparations for his maiden tour of India as the US president."The trade deal and a pact on further enhancing defence cooperation are likely to be sealed during the visit by the US president," said a source.India is seeking exemption from high duties imposed by the US on certain steel and aluminium products as well as resumption of benefits on tariff on certain products under their Generalised System of Preferences (GSP).India is also pressing the US to facilitate greater market access for its products in the US in sectors such as agriculture, automobile, auto components and engineering.On the other hand the US wants greater market access for its farm and manufacturing products, dairy items and medical devices in India. In 2018-19, India's exports to the US stood at USD 52.4 billion, while imports were USD 35.5 billion. Trade deficit dipped from USD 21.3 billion in 2017-18 to USD 16.9 billion in 2018-19.India received FDI worth USD 3.13 billion from the US in 2018-19, higher than USD 2 billion in 2017-18.India had invited Trump to grace the Republic Day parade as the chief guest last year but the US President could not come due to scheduling issues.During his visit to the US in September last year, Prime Minister Narendra Modi had reminded Trump of his invitation to him to visit India along with his familyExternal Affairs Minister S Jaishankar and Defence Minister Rajnath Singh during their visit to Washington last month conveyed to the US side that India was waiting to host Trump.Trump will seek re-election in presidential polls scheduled to take place in November. MPB AAR ABHABH

Indo-US trade deal likely during Trump's India visit

New Delhi, Nov 16 () The government is considering to re-introduce restrictions on royalty payments for technology transfer in view of excessive outflow of such funds to overseas companies, sources said.
 A proposal in this regard will soon be circulated by the Department for Promotion of Industry and Internal Trade (DPIIT) for inter-ministerial consultation, sources said.
 According to the proposal, limits could be imposed on royalty payments in case of technology transfer or collaboration involving foreign entities either directly or indirectly through any firm in India.
 A similar proposal was mooted by the department last year. That time it had proposed that royalty payments should be capped at 4 per cent of domestic sales and 7 per cent of exports for the first four years; and for the next three years the limit should be 3 per cent of local sales and 6 per cent of exports.
 But the finance ministry had raised objections over the proposal saying it could send a negative signal to foreign investors.
 The increase in outflow of these payments started after the government liberalised the FDI policy in 2009. It had removed the cap and permitted Indian companies to pay a royalty to their technical collaborators without seeking prior government approval.
 Royalty is paid to a foreign collaborator for the transfer of technology, usage of brand or trademarks.
 In April 2017, a surge in royalty outflow prompted the government to set up an inter-ministerial group to analyse payment norms and see whether there is excessive payout by Indian companies to foreign collaborators.
 Proposing these restrictions, the department had argued that the curbs would help increase the profits of domestic companies, mainly in the automobile sector, prevent depletion of foreign exchange reserves, protect the interest of minority shareholders and increase revenue for the government.
 Before 2009, royalty payments were regulated by the government and capped at 8 per cent of exports and 5 per cent of domestic sales in the case of technology transfer collaborations. They were fixed at 2 per cent of exports and 1 per cent of domestic sales for use of trademark or brand name.
 Auto major Maruti Suzuki pays an average royalty of around 5.5 per cent of its net sales to its parent Suzuki. RR MR
MR

Govt considering to reintroduce restrictions on royalty payments

<ul><li>Indian Foreign Minister <keyword id="491850" type="PERSON" weightage="20" keywordseo="S-Jaishankar">S Jaishankar</keyword> has justified India’s move to stay out of the RCEP, citing that the trade bloc is already showing ‘damaging consequences’.</li><li>His comments come ahead of Prime Minister Narendra Modi and Chinese President Xi Jinping set to face each other for a second time this month at the BRICS summit hosted by Russia. </li><li>According to Jaishankar, free and fair trade is only an illusion when in fact the world is littered with ‘tariff barriers and state capitalism’ indirectly hinting at China’s policies of subsidised mass production and dumping goods. </li></ul>India foreign minister S Jaishankar has defended India’s move to stay out of the Regional Comprehensive Economic Partnership (RCEP), stating that it is an approach that’s already showing ‘damaging consequences’. “It was quite extraordinary that an economy as attractive as India allowed the framework to be set by others,” he said, addressing the Indian School of Business in Hyderabad. “With the passage of time, our predicament became increasingly serious. The choice was to double down on an approach whose damaging consequences were already apparent or to have the courage to think through the problem for ourselves.” Xi and Modi to meet at BRICS summit today Jaishankar’s comments come ahead of Prime Minister Narendra Modi and Chinese President Xi Jinping set to face each other again today at the 2020 BRICS summit. This is the second time this month that the leaders of the two Asian giants will be attending a virtual event together. Last week, they attended the Shanghai Cooperation Organisation (SCO) Heads of State summit, hosted by Russia. Modi took the opportunity to express the importance of being self-reliant, but also respecting each other’s ‘sovereignty and territorial integrity’ as the organisation continues to grow. <div type="Article" hostid="261" msid="79148767" title="Prime Minister Modi takes a dig at Pakistan and China during SCO summit — ‘attempts are being made to rake up bilateral issues’" mstype="2" mssubtype="0"></div> Russia — who is hosting yet again — has already clarified that the BRICS summit will not be used to discuss bilateral issues. However, it added that both India and China could benefit from participating. A world of tariff barriers According to Jaishankar, free and fair trade is only an illusion when the world is littered with ‘tariff barriers and state capitalism’ indirectly hinting at China’s policies of subsidised mass production and dumping goods. “The effect of past trade agreements has been to de-industrialise some sectors. The consequences of future ones would lock us into global commitments, any of them not to our advantage. Those who argue stressing openness and efficiency do not present the full picture,” he said at the Indian School of Business in Hyderabad. India is not just a market for others The RCEP was signed on Sunday, November 15, by China, Japan, South Korea, Australia, New Zealand, and the ASEAN. India’s decision to step away, however, occurred last November. At the time, India justified its decision to keep out to protect its economy from increasing trade deficits with a majority of the other members. While more prosperous countries like Indonesia were only required to open up 50% of their economy, India was asked to open 74% of its market to the ASEAN countries. Another it raised was market access. India wanted to put in place a protected list of goods and services to shield its domestic market. The <a href="https://www.businessinsider.in/policy/news/what-is-rcep-and-how-it-affects-common-people/articleshow/71848278.cms">five sectors that would have taken most of the hit</a> from increased competition due to the RCEP are textiles, dairy, steel, automobiles, and agricultural products. “India’s aim is to enter the global arena with cards to play, not just to provide a market for others. This is really about seriously building comprehensive national power. Our success in doing so will determine future terms of engagement and outstanding with the world,” explained Jaishankar. However, since India is a heavyweight player, the RCEP members have left the door open for India should it change its mind. They have also waived the 18-month cooling period for interested applications. Now, it’s up to India whether it chooses to exercise that option or not. SEE ALSO: <a href="https://www.businessinsider.in/policy/economy/news/indian-government-lays-down-deadline-for-digital-news-companies-to-share-fdi-details-with-the-ib-ministry/articleshow/79256146.cms">Digital news publications in India have one month to share FDI details with the government — and till October next year to comply</a> <a href="https://www.businessinsider.in/business/ecommerce/news/flipkart-buys-ar-firm-scapic-to-boost-its-user-experience/articleshow/79256274.cms">Flipkart makes yet another acquisition – buys 100% stake in Augmented Reality startup Scapic</a> <a href="https://www.businessinsider.in/stock-market/news/top-stock-movers-tata-steel-bpcl-ril-hdfc-amc-nbcc-lt-tata-motors-and-others/articleshow/79256365.cms">Market hits record high, Sensex breaches 44,000 — these are the top movers today</a>

India's Foreign Minister warns of RCEP's 'damaging consequences' ahead of Modi and Xi's virtual meet at BRICS summit

Here’s how the advertising and marketing industry reacted to Union Budget 2021

New Delhi, Feb 16 () India Inc expects tangible outcomes from US President Donald Trump's maiden visit to the world's fifth largest economy later this month, including a bilateral "mini" trade deal and higher investment commitments from American companies, industry groups said on Sunday. The two countries are negotiating a trade package to iron out certain issues and promote two-way commerce. India is demanding exemption from high duties imposed by the US on certain steel and aluminium products, resumption of export benefits to certain domestic products under the Generalised System of Preferences, and greater market access for its products from sectors like agriculture, automobile, auto components and engineering. On the other hand, the US wants greater market access for its farm and manufacturing products, dairy items and medical devices, data localisation, and cut on import duties on some information and communication technology (ICT) products. The US has also raised concerns over high trade deficit with India. "Expectations remain high on achieving a bilateral 'mini' trade deal, which hopefully lays the foundation for a more comprehensive economic partnership. "As Indian industry enhances its investment and job creation in the US, we expect an interaction of President Trump with leading Indian companies operating in the US," Confederation of Indian Industry (CII) Director General Chandrajit Banerjee said. "Trade negotiators from India and the US have been working hard to add value to the bilateral economic engagement, leveraging on their mutual advantages. As Prime Minister Narendra Modi hosts Trump to a national reception, the two leaders would give a decisive lift to bilateral ties," Assocham Secretary General Deepak Sood said. At the invitation of Prime Minister Modi, Trump is slated to travel to India on February 24 and 25. According to sources, Trump will meet the country's top business leaders here on February 25 in a bid to push for deeper trade and business ties. A CEO's round-table will be organised to facilitate a meeting between the US President and corporate honchos in the national capital. Senior bureaucrats are also expected to attend the meeting, besides top executives from American corporations. Leaders including Reliance Industries CMD Mukesh Ambani, Bharti Airtel Chairman Sunil Bharti Mittal, Tata Sons Chairman N Chandrasekaran, Mahindra Group Chairman Anand Mahindra, Larsen and Toubro Chairman A M Naik and Biocon CMD Kiran Mazumdar Shaw are expected to attend the round-table meeting with Trump, one of the sources said, adding that the US Embassy in New Delhi is coordinating the event while the list of attendees has been shared with the White House for clearance. Research by CII shows that at least 100 Indian companies have invested nearly USD 18 billion and created over 1,13,000 jobs in the US. "There have been several recent announcements by Indian companies, that have shown the growing impact Indian investment can have on US economy and society, and we fully expect that to increase. Likewise we expect even higher investment commitments from US companies into India," Banerjee observed. "Most of the Fortune 500 US companies have an overwhelming presence in India, while leading Indian corporates in manufacturing and services have expanded their foothold across the US market. When it comes to goods, the US is finding greater market access in India, as is reflected in the trade data," Sood said. In 2018-19, India's exports to the US stood at USD 52.4 billion, while imports were USD 35.5 billion. Trade deficit dipped from USD 21.3 billion in 2017-18 to USD 16.9 billion in 2018-19. India received FDI worth USD 3.13 billion from the US in 2018-19, higher than USD 2 billion in 2017-18. RSN ABM

Expectations high on 'mini' trade deal during Trump's visit: India Inc

<ul><li>At 7:40 am, the SGX Nifty was down 0.12% at 8.63 points pointing towards a lower start for Nifty50.</li><li>Here’s a list of <keyword id="73648" type="PERSON" weightage="20" keywordseo="Stocks-to-watch">stocks to watch</keyword> for in trade today. </li><li><a href="https://www.businessinsider.in/">Check out the latest news and updates on Business Insider.</a> </li></ul>Amid mixed cues from the global peers, Indian stock-market indices are likely to open on a muted note on Thursday. At 7:40 am, the SGX Nifty was down 0.12% at 8.63 points pointing towards a lower start for Nifty50. However, the Dow Jones Industrial Average rose 0.3%, to 28,331.92 on Wednesday, on the back of a strong rally in tech-related shares. These are the stocks to watch out for during the trading session on Thursday: ICICI Bank ICICI Bank on Wednesday said it would sell up to 2% of its holding in ICICI Securities through an open market transaction. “The Board of Directors of the bank, at its meeting held today, approved the sale of up to 6,442,000 equity shares of face value ₹5 each of ICICI Securities Limited (company), representing up to 2% of its issued and paid-up equity share capital, through an open market sale,” the bank said in a regulatory filing. The shares of ICICI Bank ended nearly a percent higher on Wednesday. Oberoi Realty, Godrej Properties and other real estate stocks The Maharashtra government has decided to slash stamp duty on sale deed documents by 3% from September 1 to December 31, 2020, and by 2% from January 1, 2021 to March 31 2021. The shares of Oberoi Realty ended nearly 2% lower on Wednesday, whereas Godrej Properties was down nearly a percent. Hindustan Aeronautics Limited The Union Government is selling 15% of its equity stake in the state-owned Hindustan Aeronautics Ltd (HAL) at ₹1,001 per share to raise about ₹5,000 crore through an offer for sale (OFS). “The Defence Ministry has notified the stock exchanges in the evening on selling 15% of its equity stake (5.01-crore shares) in the company at ₹1,001 per share of ₹10 face value through OFS,” a company official <a href="https://www.sify.com/finance/govt-to-sell-15-stake-in-hal-through-sale-offer-news-news-ui0skQhedbahj.html">told IANS</a>. The shares of HAL ended nearly a percent higher on Wednesday. Mahindra and Mahindra Limited Automobile major Mahindra &amp; Mahindra and e-mobility technology company REE Automotive has entered into a memorandum of understanding (MoU) to explore development and manufacturing of commercial electric vehicles for global markets. “The partnership will support REE’s global customer need for 200,000-250,000 electric commercial vehicle units over a few years, including potential Mahindra’s domestic and international volumes. Production would be scaled further to support additional volume in the global as well as Indian market,” the company said. The shares of M&amp;M ended over 1% higher on Wednesday. Infosys Infosys has launched an AI-driven solution that will automate help desk operations, allow customers to eliminate manual resolution and build near-touchless contact centres in the Covid-19 times. Infosys partnered Blue Prism, a leading Robotic Process Automation (RPA) provider and a strategic partner, to build the ‘Cognitive Email Workbench’ solution. The shares of Infosys ended nearly 2% higher on Wednesday. Rossari Biotech SBI Mutual fund increased its stake in Rossari Biotech from 4.80% to 5.25%. The shares of Rossari Biotech ended nearly 2% lower on Wednesday. Allcargo Logistics The board of directors of Allcargo Logistics will meet today to consider and approve the voluntary delisting of shares The shares of Allcargo Logistics ended nearly 2% lower on Wednesday. Jindal Stainless Jindal Stainless’ board approved raising up to ₹162.8 crore through issue of convertible equity warrants. “The board of directors of Jindal Stainless Ltd at its meeting held today...considered and approved raising funds through issue of convertible equity warrants for an amount up to ₹162.8 crore on preferential basis,” the company said in a filing to the stock exchanges. The shares of Jindal Stainless ended nearly 3% higher on Wednesday. ITC, VST Industries and Godfrey Phillips For providing benefits to farmers, a parliamentary panel has recommended permitting regulated foreign direct investment (FDI) in the tobacco sector and establishing export-only tobacco farms to boost outward shipments. The shares of ITC ended nearly a percent lower on Wednesday. Indraprastha Gas The company reported 88% fall in its net profit to Rs 35.2 crore for the first quarter ended June 30. The company's total revenue declined 58.9% to Rs 638 crore. The shares of Indraprastha Gas ended flat on Wednesday. SEE ALSO:<a href="https://www.businessinsider.in/science/space/news/mars-spotted-first-time-by-uae-hope-probe-on-its-maiden-voyage-in-space/articleshow/77775267.cms" data-type="tilCustomLink"> UAE’s Hope probe spots Mars for the very first time on its maiden voyage through space</a> <a href="https://www.businessinsider.in/tech/news/apples-new-iphone-operating-system-is-making-it-harder-for-facebook-to-track-people-and-facebook-warns-it-will-decimate-part-of-its-business/articleshow/77769482.cms" data-type="tilCustomLink">Apple's new iPhone operating system is making it harder for Facebook to track people, and Facebook says it will decimate part of its business</a>

​Top stocks to watch in trade— ICICI Bank, Oberoi Realty, Godrej Properties, HAL, Infosys, M&M, ITC, Rossari Biotech, Allcargo and more

<img class="gwt-Image" src="/photo/51153713.cms" /> 
India accounts for 1.8% of the world’s manufacturing output. That’s not too much, and the numbers have been slipping. 
 
For private manufacturing companies, growth in sales has been stagnant for the last two years. However net profit is rising since the last quarter of 2013-14, thanks to the improved efficiency of the companies. This is a positive sign for growth of the manufacturing sector in India. 
 
The Index of Industrial Production (IIP), however, suggests that the industrial sector is recovering slowly with a 2.1% growth in April-December 2014. This growth is primarily led by mining as manufacturing continues to be lukewarm. 
 
Basic and capital goods seem to be on the way to recovery and intermediate goods are yet to emerge out of difficulties. Consumer goods, primarily consumer durables, continue to slip. 
 
Here is the progress report for the big sectors you should worry about: 
 
<keyword id="44749" type="ORGANIZATION" weightage="60" keywordseo="Foreign-Direct-Investment">Foreign Direct Investment</keyword> 
 
The 100% <a href="http://www.businessinsider.in/searchresult.cms?query=foreign+direct+investment">foreign direct investment</a> policy in most sectors and /activities seems to work, and is investor-friendly. Currently up to 49% is currently allowed in the defense industry. 
 
Between During April and November 2014-2015, total foreign investment <a href="http://www.businessinsider.in/searchresult.cms?query=foreign+direct+investment">FDI</a> inflows stand at $ 27.4 billion. FDI equity inflows are $ 18.9 billion. 
 
Services, construction, telecommunications, computer software and hardware, drugs and pharmaceuticals, automobile industry, chemicals, and power have attracted a proportionately higher share of <a href="http://www.businessinsider.in/searchresult.cms?query=foreign+direct+investment">foreign investment</a>. 
 
Telecom 
The <a href="http://www.businessinsider.in/searchresult.cms?query=telecom+sector">telecom sector</a> is growing. 
 
Between April and November of 2015, 31.2 million new telephone connections were added. That’s more that the 12.13 million in the same period of 2013-14. 
 
<keyword id="557969" type="TECHNOLOGY" weightage="100" keywordseo="urban-infrastructure">Urban Infrastructure</keyword>: 
<a href="http://www.businessinsider.in/searchresult.cms?query=Urban+infrastructure">Urban infrastructure</a> has increased from 27.78% in 2001 to 31.18% in 2011. 
 
According to Census 2011, as many as thirty-five cities in India had a million plus population. At current rates of growth, urban population in India is projected to reach 575 million by 2030. 
 
Eight Core Industries 
The overall growth in the eight core industries between April 2014 and December 2015 during April-December 2014-15 has improved marginally to 4.4%. 
 
<a href="http://www.businessinsider.in/searchresult.cms?query=electricity">Electricity</a> grew at 9.7%, coal at 9.1% and cement at 7.9%. This has boosted overall performance, while natural gas at -5.1%, fertilizers at -1.4%, crude oil at -0.9%, refinery products at 0.2%, and steel at 1.6% account for moderate growth. 
 
The improved performance in <a href="http://www.businessinsider.in/searchresult.cms?query=electricity">electricity</a> is due to high growth in thermal generation, and from more coal mining by Coal India Ltd. Domestic steel production is affected by the slowdown in domestic demand and cheaper imports. 
 
Corporate Sector performance 
<a href="http://www.businessinsider.in/searchresult.cms?query=Corporate+sector">Corporate sector</a> performance of listed manufacturing companies in the private sector had a turnaround in terms of growth of sales and net profit appeared to turn around in Q1 of 2014-15. However, performance in Q2 of 2014-15 has dampened. 
 
New Government Schemes 
New initiatives like <a href="http://www.businessinsider.in/searchresult.cms?query=Make+in+India">Make in India</a> and <a href="http://www.businessinsider.in/searchresult.cms?query=Digital+India">Digital India</a>, the creation of the National Industrial Corridors Authority, and <a href="http://www.businessinsider.in/searchresult.cms?query=labour+reforms">labour reforms</a> are helping manufacturing in overcoming critical constraints in acquiring land. Action has been taken to remove regulatory uncertainty by passing law to streamline <a href="http://www.businessinsider.in/searchresult.cms?query=land+acquisition">land acquisition</a>. 
 
Image credit: Indiatimes

All you need to know about India’s burgeoning
manufacturing sector

<ul><li>After tweeting a global map of the <keyword id="107096" type="COMPANY" weightage="20" keywordseo="Tesla">Tesla</keyword> Superchargers, <keyword id="6355315" type="UNKNOWN" weightage="20" keywordseo="elon-musk">Elon Musk</keyword> received queries about why Tesla isn’t present in <keyword id="3658" type="COUNTRY" weightage="20" keywordseo="India">India</keyword> yet. </li><li>Musk responded stating that the delay is due to the Indian government’s ‘challenging’ regulations. </li><li>Local automobile manufacturers have also asked for clarity on the policy regarding <keyword id="6354973" type="UNKNOWN" weightage="20" keywordseo="electric-vehicles">electric vehicles</keyword> in India. </li></ul>In a recent Twitter storm, the global map of Tesla Superchargers tweeted by Elon Musk received an onslaught of queries regarding why there weren’t any Teslas in India. The map shows locations in the US, Mexico, Australia and even China, but none within the subcontinent. 
 
 
 <div type="javascript" title="Custom"><cdata><![CDATA[
<blockquote class="twitter-tweet" data-lang="en">No Tesla in India <a href="https://t.co/NDtPEVYD0A">pic.twitter.com/NDtPEVYD0A</a>&mdash; vinit swami (@yoyovinzi) <a href="https://twitter.com/yoyovinzi/status/1001706391701245958?ref_src=twsrc%5Etfw">May 30, 2018</a></blockquote>

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It was a particular “No Tesla in India” tweet that caught Musk’s attention. Apparently Tesla would ‘love’ to be present in India, but it’s the country’s ‘challenging’ government regulations that are keeping the company at bay. 
 
 
 <div type="javascript" title="Custom"><cdata><![CDATA[
<blockquote class="twitter-tweet" data-lang="en">Would love to be in India. Some challenging government regulations, unfortunately. Deepak Ahuja, our CFO, is from India. Tesla will be there as soon as he believes we should.&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/1001707195799621632?ref_src=twsrc%5Etfw">May 30, 2018</a></blockquote>

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He even substantiates his statement adding that the company’s Chief Financial Officer (CFO), Deepak Ahuja, who’s from India himself, is looking into the matter. Not the first time Elon Musk had plans of bringing Tesla to India by the summer of 2017. Since then, sources initially reported that Tesla had to back out from India because the country wasn’t a ‘viable market’. Later it was clarified by Musk himself, that it was the ‘Make In India’ policies that were keeping the company from making headway. 
 
 
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<blockquote class="twitter-tweet" data-lang="en">Maybe I&#39;m misinformed, but I was told that 30% of parts must be locally sourced and the supply doesn&#39;t yet exist in India to support that.&mdash; Elon Musk (@elonmusk) <a href="https://twitter.com/elonmusk/status/866473048639066112?ref_src=twsrc%5Etfw">May 22, 2017</a></blockquote>

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 However, the government was quick to respond and schooled him on how foreign direct investment (FDI) in the auto industry works in India. 
 
 
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<blockquote class="twitter-tweet" data-lang="en">.<a href="https://twitter.com/elonmusk?ref_src=twsrc%5Etfw">@elonmusk</a> With respect to news reports on launch plans of Tesla in India being delayed, please note some key clarifications<a href="https://twitter.com/hashtag/MakeInIndia?src=hash&amp;ref_src=twsrc%5Etfw">#MakeInIndia</a> <a href="https://t.co/9RFICGM9Kk">pic.twitter.com/9RFICGM9Kk</a>&mdash; Make in India (@makeinindia) <a href="https://twitter.com/makeinindia/status/866910403254603776?ref_src=twsrc%5Etfw">May 23, 2017</a></blockquote>

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Various automakers have asked for <a href="https://www.livemint.com/Industry/OSlNhNaWuLNyEWfgzFY6yH/Electric-vehicle-makers-to-reach-out-to-NITI-Aayog-PMO-for.html">clarity</a> regarding government norms when it comes to electric vehicles in India. Looking at the last two years, the government initially said that it’s planning for 100% electric vehicles in public transport and 40% in personal mobility by 2030. But earlier this year, their stance <a href="https://www.livemint.com/Industry/mmhL6JOC61yIfeiIQKlLZN/Govt-drops-the-idea-of-an-India-EV-policy.html">flipped</a> to formulating a policy for electric vehicles that isn’t constrained by rules and regulations. The Centre’s uncertain back and forth may have an <a href="https://inc42.com/features/how-the-govts-flip-flop-on-policy-is-slowing-down-ev-adoption-in-india/">adverse</a> effect on the adoption of electrical vehicles. On the other hand, state governments have their vision sorted with clear policies already in place. Electric vehicles may not be the answer for India It was only yesterday that the International Energy Agency published their <a href="http://www.business-standard.com/article/current-affairs/electric-vehicles-could-increase-net-carbon-emissions-in-india-iea-118053000358_1.html">report</a> claiming that electric vehicles may actually cause more harm than good in countries like China and India. The life-cycle of emissions is as such that these countries have a carbon-intensive power generation mix. As of now, 85% of India’s installed capacity is <a href="https://www.businessinsider.in/india-might-have-second-largest-power-capacity-in-asia-this-year/articleshow/64357534.cms">dependent</a> on energy derived from coal. That essentially means, that even if cars switch to electricity instead of petrol, they’ll still be burning carbon, just at different stages of the life-cycle.

Elon Musk explains why Tesla isn’t in India yet

<img class="gwt-Image" src="/photo/42089025.cms" />

	A boost to investors’ confidence and fast track clearance of crucial projects is set to put India back on the growth track. With the new government’s prime focus is on developing the manufacturing sector in India, the country’s economy is already showing signs of revival. 
	 

	 “The key fundamentals of economy have turned for better while the GDP would mostly likely grow by six percent in the current fiscal, after sub-five per cent for two consecutive years,” said Rana Kapoor, President of industry body ASSOCHAM (The Associated Chambers of Commerce and Industry of India).
 

	He told that the association expected the new government to address issues such as Goods and Services Tax (GST), as the present government has shown seriousness in tackling issues critical to the revival of the economy. According to market estimates, foreign <keyword id="6362476" type="ORGANIZATION" weightage="20" keywordseo="investments">investments</keyword> at the beginning of the year were expected to cross $60 billion level in this fiscal because of the investors’ confidence in Modi government. “See now, the Prime Minister's visit to Japan eliciting promise of $35 billion in five years will be a game-changer for the <keyword id="6356076" type="UNKNOWN" weightage="20" keywordseo="indian-economy">Indian economy</keyword>, which will further attract investment from different FDI source countries”, noted Kapoor. The <keyword id="6354335" type="CITY" weightage="40" keywordseo="reserve-bank-of-india">Reserve Bank of India</keyword> too in its Annual Report 2013-14 has a positive forecast for the current fiscal year. “The Indian economy could grow in the range of 5% to 6 % in 2014-15 with risks broadly in balance around the central estimate of 5.5%. Signs of improvement in mining and manufacturing activity, expected pickup in investment, improved availability of financial resources to private sector with lower draft of government on financial savings of the households amid fiscal consolidation, improved external demand and stabilising global commodity prices are expected to support recovery,” the report stated. 
	 

	The report noted that the economy is expected to grow faster than it grew in the previous fiscal year with the government’s focus on key sectors such as mining, manufacturing, construction and trade, hotels, transport and communication. “These four segments account for 50% of GDP compared to about 15% in case of agriculture, forestry and fishing, and electricity,” the report added. 
	 

	Apart from a stable government at the centre, the apex bank has also attributed the improvement in business and investment climate in the country to considerably lower inflation and an improvement in global growth. “Coincident indicators such as automobile sales, railway freight traffic, cargo handled at ports and foreign tourist arrivals are pointing towards some recovery in the services sector and automobile sales have shown signs of a turnaround,” the bank stated in the report. Interestingly, the capital markets too have shown signs of revival in the recent times, with <keyword id="6484188" type="CITY" weightage="20" keywordseo="Sensex">Sensex</keyword> and Nifty scaling high at 293 points and 87 points respectively. Reports suggested that this has primarily happened due to foreign investors are betting big on the growth of the economy and the lower oil prices have given a boost to the investors’ sentiments.

Economy Bounces Back, India To Pen Its Growth Story Soon!

<img class="gwt-Image" src="/photo/46065411.cms" /> 
 The <keyword id="2549811" type="UNKNOWN" weightage="20" keywordseo="Budget-2015">Budget 2015</keyword> is just round the corner. While everyone has their own set of expectations from the budget, recruiters across sectors are expecting the Modi government to announce major reforms that will give hiring much-needed boost. 
 They have formed their expectations considering Prime Minister <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword>’s <keyword id="6354869" type="UNKNOWN" weightage="20" keywordseo="make-in-India">Make In India</keyword> Campaign. A recruiter with the real estate sector further validates this point. He says, “Prime Minister Modi’s Make in India campaign involves 25 key sectors. We expect the government to make important policy reforms, which in turn can attract more investments in these sectors. This will eventually result in the hiring activity to surge in these sectors.” 
 
Pre-budget expectations: Sourcing the best to be made easy 
 
Talking about sourcing the right talent for an organization, Siddharth Reddy, Managing Director of BI Worldwide, a HR management firm, noted that companies in India are now focusing on adopting a transparent and digital mindset. “Gearing up for the talent war is now a priority and organizations are getting better prepared to add dependent employees who will set the agenda for the companies rather than vice versa. Companies are seeing value in an engaged team, the best way to stand out from their competitors.” 
 
Reddy said that the industry expected the government to focus on skill and talent development. “The concerned Ministry is also working diligently to conceptualize and implement necessary measures to meet the rising demand for skilled workforce across sectors,” he added. 
 
Apart from skill development, recruiters also anticipate the government to find ways of generating employment opportunities in tier 2 and 3 cities. “This will ensure a balance growth and encourage overall competitiveness across sectors. We hope the new budget will sanction more funds to widen the skill and talent development initiatives. ,” stated Reddy. 
 
Employers also hope that the government will increase the non-taxable gift limit from the existing Rs 5,000 per annum to Rs 10,000 per annum. “This value-addition will help the employers to be more flexible in structuring their employee rewards and recognition strategies to engage key talent in their organizations,” he averred. 
 
Automobile, Aviation, Construction &amp; IT Likely To Be Benefited 
 
The upcoming budget is expected to rake up the hiring scenario in the country. However, the sectors that will be immensely benefitted are the ones that come under the ‘Make in India’ programme. 
 
“Automobile, automobile components, aviation, construction, food processing, mining, oil and gas, IT and BPO, biotechnology, defence manufacturing, chemical and pharmaceutical among other sectors are expected to be benefitted immensely. The government has a sharp focus on developing these sectors under the campaign and hence is expected to announce reforms and new policies to boost investments in these sector, which in turn will boost existing and new projects, hence pushing up the hiring activity,” said an industry expert. 
 
It should be noted that the government has reaffirmed its plans to develop infrastructure sector and has also pitched it amongst foreign investors. Apart from infrastructure, the government’s budget announcements for sectors such as education, finance, real-estate as well as insurance will likely create more job opportunities in these sectors. 
 
Hiring Activity To Go Up In Four Regions 
 
In the fiscal year 2015, recruitment across sectors have been gradually picking up pace; however, it did not measure up to the expectations of the human resource industry. Nevertheless, industry analysts have suggested that the momentum is expected to remain and job seekers can expect robust hiring plans across sectors. 
 
“Indian employers report dynamic hiring prospects for the quarter ending March 2015. Nearly 44% of employers anticipate an increase in the staffing levels while on an average, the net employment outlook seems to have increased by 41%,” A G Rao, managing director of ManpowerGroup India. 
 
He added that region-wise, the industry is expecting the hiring activity to go up in the four regions. “Employers in all four regions expect to grow staffing levels during the coming quarter. The strongest hiring intentions are reported in the South and the West, where net employment outlooks stand at 46% and 45%, respectively. Employers in the North also report bullish hiring intentions with an outlook of 42%, while the outlook for the East stands at 31%,” noted Rao. 
 
BI India believes that the current government has renewed focus on creating employment opportunities in the country and hence expects the upcoming budget to announce key policy reforms in taxation as well as bring in clarity regarding FDI in crucial sector such as multi-brand retail and eCommerce. The government must also announce newer initiatives in skill development, which in turn will make India a lucrative destination for both domestic and foreign investors. 
 
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Budget 2015 Likely To Boost Job Market In India

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	 With the aim of giving a boost to the <keyword id="6362048" type="ORGANIZATION" weightage="20" keywordseo="Manufacturing">manufacturing</keyword> sector in India, Prime Minister Shri <keyword id="6354477" type="PERSON" weightage="20" keywordseo="Narendra-Modi">Narendra Modi</keyword> will launch “Make in India” initiative on 25th September from Vigyan Bhawan in New Delhi. The initiative will be launched at both national and state level. 

	“The Government is committed to chart out a new path wherein business entities are extended red carpet welcome in a spirit of active cooperation. Invest India will act as the first reference point for guiding foreign investors on all aspects of regulatory and policy issues and to assist them in obtaining regulatory clearances. The Government is closely looking into all regulatory processes with a view to making them simple and reducing the burden of compliance on investors,” said the Ministry of Commerce and Industry in a statement. 
 

	The government has created a dedicated cell to answer queries from business entities through a newly-created Web portal. The portal will have an exhaustive set of FAQs that will answer the general queries of an investor, while a back-end support team will be set up to answer specific queries within 72 hours. 
	 
	“A pro-active approach will be deployed to track visitors for their geographical location, interest and real-time user behaviour. Subsequent visits will be customised for the visitor based on the information collected. Visitors registered on the website or raising queries will be followed up with relevant information and newsletter. Investor facilitation cell will provide assistance to the foreign investors from the time of their arrival in the country to the time of their departure. The initiative will also target top companies across sectors in identified countries,” stated the ministry. 
 

	The government, through this initiative, will also encourage domestic companies that have a strong potential in innovation and new technologies, to grow into global champions. The ministry will be focusing on promoting green and advanced manufacturing through these home-grown companies. 
 

	Currently, the government has identified 25 sectors that it will promote. These sectors include automobiles, chemicals, IT, pharmaceuticals, textiles, ports, aviation, leather, tourism and hospitality, wellness, railways among others. Prime Minister Narendra Modi will release specific brochures for each sector that will provide details of growth drivers, investment opportunities, sector-specific FDI and other policies and related agencies.
 

	It should be noted that Prime Minister Modi had first spoken about the initiative on Independence Day where he emphasized on the need to project and develop India as the manufacturing hub.

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