“This is a meeting of dreams of one third of the humanity under one roof,” Prime Minister <keyword id="6354477" type="PERSON" weightage="100" keywordseo="Narendra-Modi">Narendra Modi</keyword> spoke at the biggest gathering of foreign dignitaries in New Delhi since 1983 Non-Aligned Summit as the 3rd India-Africa Forum Summit kicked off at Indira Gandhi stadium on Thursday. 
 
During his inaugural address, he outlined areas of emerging partnership between the two countries and specific areas of cooperation and roadmap to achieve it. We bring you key highlights from PM Narendra Modi’s speech at the ceremony: 
 
India and Africa to stand together in pitching for UN reforms 
 PM called for unity for pushing reforms in international institutions like the UN Security Council. He said “This is a world of free nations and awakened aspirations. Our institutions cannot be representative of our world if they do not give voice to Africa, with more than a quarter of UN members, or the world’s largest democracy with one-sixth of humanity. That is why India and Africa must speak in one voice for reforms of the <keyword id="6355833" type="ORGANIZATION" weightage="100" keywordseo="united-nations">United Nations</keyword>, including its Security Council.” Zimbabwe President <keyword id="6363383" type="PERSON" weightage="100" keywordseo="Robert-Mugabe">Robert Mugabe</keyword> was seen taking a similar stand as Modi. Stating that African nations have been treated as “underdogs” and looked down upon as “dwarfs” by the permanent members of UNSC, Mugabe said reform of the global body should be carried out in such a way that it becomes “United Equal Nations”. “We are saying let us amend charter of UN. There should be two seats for African countries in the reformed Security Council and one for India. The South African President <keyword id="58149" type="PERSON" weightage="100" keywordseo="Jacob-Zuma">Jacob Zuma</keyword>, who is part of G-4 grouping, also strongly backed India’s candidature for the UNSC seat. 
 
 Efforts on combating Climate change 
 
"Effort should be that snow on Kilimanjaro does not disappear, the glacier that feeds the River Ganga does not retreat," Modi aspired to light up lives of people and power their future. He called for cooperation between India and Africa to combat climate change even as he said he wants to see "a genuine global public partnership that makes clean energy affordable, provides finance and technology to developing countries to access it; and the means to adapt to the impact of climate change." 
 
Technology and innovation: 
 
Citing how the use of mobile and digital technology like mobile banking of M-Pesa, the healthcare innovation of MedAfrica, the agriculture innovation of AgriManagr and Kilimo Salama are transforming lives in Africa, Modi said technology will be a strong foundation of the partnership between India and Africa considering Africa has now joined the global mainstream of innovation. 
 
India to extend a new $10 billion line of credit 
 
In addition to the ongoing credit programme, Modi promised to offer concessional credit of $10 billion over the next five years in a bid to add strength to the partnership. At the India-Africa Forum Summit, he outlined India’s vision to assist Africa with infrastructure building from “Cairo to Cape Town, Marrakesh to Mombassa”. He also pledged an assistance of $600 million to the continent, which includes 50,000 scholarships for African students in India, an India-Africa Development Fund of $100 million and an India-Africa Health Fund of $10 million. India will also support the expansion of the Pan Africa E-Network and institutions of skilling, training and learning across Africa. 
 
Joint efforts for a solar future and global trading regime 
Modi said: "Our goal is to make solar energy an integral part of our life and reach it to the most unconnected villages and communities." India has proposed to launch in Paris on 30 November at the time of COP-21 meeting. He invited African nations to join an alliance of solar-rich countries. He also asked Africa to seek a global trading regime along with India that serves the development goals and improves the trade prospects of both the regions. 
 
India to help Africa in developing agriculture: 
 
"Africa has 60 percent of the world's arable land reserves and just 10 percent of the global output. India will help to develop Africa's agriculture sector that can drive the continent's march to prosperity and also support global food security,” Modi said, while adding that India has noted Africa’s strong measures that are radically improving healthcare, education and agriculture. “Primary school enrollment in Africa now exceeds 90 percent," he said. 
 
(Image credit: PM's Facebook page)

6 reasons why the Indo-Africa Forum Summit is more
important than you would imagine

Finance Minister <keyword id="42575" type="PERSON" weightage="80" keywordseo="Arun-Jaitley">Arun Jaitley</keyword>, who presented the Modi government’s first full-fledged Union Budget on Saturday, seems to strike the right chord with both India Inc as well as individuals. While Finance Minister Jaitley decided to keep <keyword id="6354751" type="COMPANY" weightage="80" keywordseo="Income-Tax">income tax</keyword> slabs unchanged, however, he announced that individual tax payers would be benefited to the extent of Rs 4,44,200 from the exemptions announced. 
BI India lists down the key announcements in the taxation policy announced in the Union Budget 2015. 
 
1. The government announced an increase service tax rate and education cess to 14% from 12.36%. 
2. Bringing relief to the super-rich of the country, FM Jaitley has abolished wealth tax and instead has put a 2% surcharge on individuals with income over Rs 1 crore. 
3. The transport allowance exemption has been hiked from Rs 800 per month to Rs 1,600 
4. The government also announced an exemption of Rs 50,000 for pension under Sec 80C of the Income Tax Act 
5. He has raised the tax emption in the National Pension Scheme to Rs 1,50,000 from its present level of Rs 1,00,000. 
6. The government also announced an exemption of Rs 50,000 for pension under Sec 80C of the Income Tax Act 
7. The transport allowance exemption has been hiked from Rs 800 per month to Rs 1,600 
8. In a bid to promote health insurance in the country, the Centre announced an increase in health insurance premium deduction upto Rs 25,000 from Rs 15,000 
9. The health insurance premium deduction for senior citizen has been increased from Rs 10,000 to Rs 30,000. On the <keyword id="118200" type="UNKNOWN" weightage="80" keywordseo="corporate-tax">corporate tax</keyword> front, Finance Minister Jaitley made a slew of announcements. 
10. Corporate tax has been reduced from 30% to 25% 
11. The government will continue to reduce corporate tax by 5% over the next four years 
12. CSR activities for ‘Clean Ganga Fund’ and Swacch Bharat Kosh will enjoy 100% tax exemption 
13. Defers GAAR by two years 
14. GST to be implement in next fiscal year 
 
15. Recognising yoga as a part of the Indian culture, the government has announced tax relief for yoga instructions, institutions 16. Slash in <keyword id="44235" type="ORGANIZATION" weightage="80" keywordseo="Custom-duty">custom duty</keyword> on raw materials and intermediaries 
17. The government increased consolidated service tax to 14% 18. The government has announced a cut by 6% in the <keyword id="6356916" type="UNKNOWN" weightage="80" keywordseo="excise-duty">excise duty</keyword> levied on footwear that have a retail price of over Rs 1000 per pair 
19. The income tax department will bring in more clarity on indirect transfer of assets and dividends paid by foreign firms 
20. Any sale transaction exceeding Rs 1 lakh will require PAN numberPAN must for any sale exceeding Rs 1 lakh 
21. Tax on technical goods reduced to 10% from 25% 
22. The Centre also reduced custom duty on 22 items 
23. The Clean energy cess has been increased to Rs 200 from Rs 100 per metric ton of coal in order to finance Green Energy Fund 
On the issue of black money, the government announced some stringent reforms. 
24. Rigourous 10 year imprisonment for concealment of income 
25. The Centre will also be able to seize foreign properties and assets through Foreign Exchange Management Act 
26. In a bid to tackle illegal transactions in the real estate sector, the government will also introduce Benami Property Bill 
Other key highlights include: 
27. Direct tax proposals to result in a loss of Rs 8,315 crore 
28. The indirect proposals will yield Rs 23,383 crore 29. The government will also rationalize <keyword id="73398" type="ORGANIZATION" weightage="80" keywordseo="MAT">MAT</keyword> rules for FIIs

Budget 2015: Tax Sops Galore, both India Inc and people cheer

It is the second time that India has become the partner country for the prestigious <keyword id="2516490" type="UNKNOWN" weightage="20" keywordseo="Hannover-Messe-2015">Hannover Messe 2015</keyword>. With the new government in place and a paradigm shift in the policies, <keyword id="2587191" type="UNKNOWN" weightage="20" keywordseo="Marco-Siebert">Marco Siebert</keyword>, Director, International Relations at <keyword id="2319960" type="COMPANY" weightage="20" keywordseo="Deutsche-Messe">Deutsche Messe</keyword>, speaks to BI India and share his views on the opportunities for Indian companies at the fair, Make in India campaign and his expectations. Here are the excerpts: 
 
Hannover Messe is the world’s largest fair. How did Deutsche Messe choose India as a partner? 
 
Well, choosing a partner country is a long term planning and normally takes two to three years. Becoming a partner country is not just our decision but also of our major exhibitors and also from the German government. The decision to make India as the partner country is also because it’s an interesting, growing key market for the industries as well as the good relations that exists between German and Indian enterprises. 
 
The decision of choosing India as a partner country also comes from the positive experience that we had when India was the partner country at Hannover Messe 2006. Besides, we also look for political stability, which was a little bit of challenge last year as we knew there could be a change in the government. So, all the discussions happened under the umbrella of the former government. But the new government too was very open and quick to accept. 
 We also know the associations in India very well such as Engineering Export Promotion Council India (<keyword id="219563" type="ORGANIZATION" weightage="20" keywordseo="EEPC">EEPC</keyword>), Confederation of Indian Industry (<keyword id="6358345" type="ORGANIZATION" weightage="20" keywordseo="CII">CII</keyword>) and Indian Brand Equity Foundation (<keyword id="2535642" type="ORGANIZATION" weightage="20" keywordseo="IBEF">IBEF</keyword>) among others. Besides, we have a large number of exhibitors from India who are very experienced in export business. So, all these factors together brought us to India. 
 
India has been participating in the fair for a long time now. So how different is it going to be for Indian exhibitors this time especially since India is the partner country? 
 
Normally, the Indian companies come here as individual exhibitors. They have to bring a lot of things on their own. But since India is the partner country, all exhibitors from India will get full support from the government as it is strategic project under the umbrella of the Prime Minister and the Ministry of Commerce and Industries. Normally, there are only a couple of pavilions but this time, they will have nearly 10 pavilions where the government associations will offer support to the companies in terms of training, preparations among others. Besides, there will be conferences, wherein they can learn as well as get to network with exhibitors from other countries. 
 
India does not have a matured manufacturing sector. How do you think this fair will benefit the manufacturing sector? And what do you think of India as the manufacturing hub and Narendra Modi’s ‘Make in India’ campaign? 
 
First of all, when an industrial company wants to export to another country, they have to look at the need of that industry. India is one of the developing countries in the world with a fast growing market. There are a lot of opportunities for foreign industrial companies to come to India to do business as well as make investments in the country. Of course, there should be a lot of emphasis on the manufacturing sector within the country to grow, to develop better and to do a lot of research work. Hannover Messe can help if they are coming to find new cooperations or partnerships. They can meet people from Germany, Europe, the US and other parts of the world and invite them to join forces in India to learn and develop. 
 
As far as Make in India campaign is concerned, I found the topic to be perfect. It is a very strong and clear message. This campaign covers all sides of business, which is export and import. The campaign clearly asks people to produce in India for exports as well as invest in India so that it can be made in India. The market is big and has a lot of potential. 
 
You have mentioned that there are a lot of opportunities of collaborations and co-operations in India. According to you, which are the sectors that can have strategic tie-ups between Indian and foreign players? 
 
My experience has always been that if there are challenges, then there are a lot of chances. If there are a lot of challenges, then there are many chances. And Prime Minister Modi has spoken about a lot of chances in the infrastructure sector. I believe, he totally understands the need to partner with other countries. For example, German railway company Deutsche Bahn AG has entered into partnership with the Indian railways to share and explore information on technology and business developments. Another sector is the energy. I believe there is a very interesting process in India, but there is a scope of cooperation in this sector as well. Again, the target of experienced firms is to work in such countries. 
 
Another area where I can see a possibility of cooperation is water and waste management. The new Indian government is keen on cleaning river Ganga and I believe it is a great area where associations can be made in terms of technology solutions, which is required to carry out the work. 
 
Also, skill development and education offer great opportunities to foreign companies for investments. India is young country with largely young population. Millions of these young people want to learn and become more international in their education and skills. Universities can come in and work together to impart the required education as well as skills. 
 
What according to you are the sectors in engineering products where India can learn from Germany and vice-versa? 
 
I think one sector in the industry regarding the industrial automation is energy efficiency. We are very limited in energy. We do not have our own oil and have very limited gas. So, to grow and be successful, Germany has to be successful in energy efficiency research work. I see a potential here for a partnership with India in the field of research and development. India can use our research to produce more efficiently, as well as competitively, in the market. 
 
And in the other way round, India has several young, intelligent and highly educated engineers, whom we have already invited to come to Germany and participate in government programmes. I believe Germany can mutually take the expertise and intelligence of these young engineers. Also, India has a stronghold in the IT sector, which I think Germany can learn from. 
 
Lastly, what kind of participation do you expect from India at the fair? Also, kindly tell us about your expectations from the fair? 
 
Of course, we are expecting a lot of more visitors from Indian delegation this time. Also, there is a huge programme by the government to support the exhibitors. Besides, everyone has this project on their mind so that ways we expect to see a enormous participation from India. 
 
We are closely working together with the Indian embassy in Berlin as well as the German embassy in New Delhi. Also, the Indo-German Chamber of Commerce is also involved with us. Our goal is to find out where our respective companies can tie up. In the next couple of months, along with the EEPC, we are planning road show to promote our goals. The German embassy will be involved and will be participating in the show. 
 
Finally, we are expecting institutions and companies to sign Memorandum of Understanding (MoU) for collaborations at the fair. Last year, there were about 122 exhibitors and close to 3,000 visitors from India.

Make In
India Is A Very Strong And Clear Message To The World: Marco Siebert

Modi Government is about to complete one year in office and one year is a significant time for understanding the intent and to some extent the performance of any government. <keyword id="2403978" type="ORGANIZATION" weightage="80" keywordseo="The-Modi-government">The Modi government</keyword> had won the election on the plank of development and its promise to bring ‘acche din’. The article tries to trace some of the promises that were made and the performance of the government during the previous year under various broad themes. 
 
Economy- The government has been helped by what a prominent editor termed ‘acche sitare’, ‘good luck’. It is no doubt true that fall in commodity prices in general and crude oil, in particular, helped the government reign in the <keyword id="6365485" type="UNKNOWN" weightage="80" keywordseo="fiscal-deficit">fiscal deficit</keyword> and give it headway to make fiscal policies for the country. The fiscal deficit target for 2015-16 has been the pegged by the budget to 3.9%. While this is little above than recommendations of the Fourteenth <keyword id="74136" type="ORGANIZATION" weightage="80" keywordseo="finance-commission">Finance Commission</keyword> ( which recommended it to be 3.6 percent of the <keyword id="35050" type="CITY" weightage="80" keywordseo="gdp">GDP</keyword>), the government has understandably batted for growth. The government still is slowly but surely moving towards the limit set by FRBM (Fiscal Responsibility and Budgetary Management) Act, 2003 that pegged the target at a maximum level of 3% of the GDP. The government has also tried to help the <keyword id="34412" type="ORGANIZATION" weightage="80" keywordseo="economy">economy</keyword> gain momentum by enabling legislation for reforms. These included trying to go in for a major reform in the indirect taxation regime as well as accepting the recommendations of Fourteenth <keyword id="25455" type="ORGANIZATION" weightage="80" keywordseo="finance">Finance</keyword> Commission in respect to revenue sharing with states. It was ostensibly done to ensure a spirit of ‘cooperative federalism’ between states and center, as well as greater financial devolution to states. The figure now stands at 42% of the total revenue collection up from the earlier 32%. Also, the year saw growth forecasts been revised for India by a number of International Bodies and agencies. The IMF revised its forecasts to 7.5 % In 2015 in its WEO April 2015 forecast. It was up from the 6.4 projected for 2015 in the WEO April 2014 forecast. Similarly, the Asian Development Bank in its Asian Development Outlook 2015, indicated a bettering economy with less than 5 percent core <keyword id="22195" type="COMPANY" weightage="80" keywordseo="Inflation">inflation</keyword>. They also alluded to the new monetary policy framework according to which RBI, India's central bank is to play the role of price stabilization primarily while being mindful of growth. With the policy framework in place, the central bank will be maintaining the inflation target of 4±2 % from FY 2016 onwards. Thus with an overall bettering situation a total score of 7.5 out of 10. 
 
Foreign Engagement and Defence- Foreign engagement was by far the area where the most vigorous activity and keen intent were observed. The sphere saw initiatives undertaken by the PM himself to make India more noticeable as well as more integrated with the International sphere. It included among many things, trips to foreign countries both in the neighbourhood as well as to countries like Germany, France, Australia, US, Canada and most recently beginning May 14, 2015 his trip to China. The engagement also saw a large number of foreign dignitaries coming to India from across the world. The engagement also saw bilateral agreements as well as plans to invest in India's development by countries and companies abroad, most notably by Japan, US and China. Also, steps to resolve contentious issues have been undertaken pertaining to the border areas with neighbours. It includes the recently passed Bangladesh Land Accord Bill that envisages transferring enclaves and demarcation of the boundary along the present porous borders. Also, in the broad sphere of defence the decision to acquire 36 Rafale fighter jets is a welcome step. More such acquisitions will have to be made since these 36 planes would add just two squadrons to thirty-five squadrons that IAF has. It is below an authorized strength of forty-two which will be down to twenty- five by 2022. It means we must speed up the process of defense acquisitions since there is urgent need to upgrade and modernize the armed forces and security apparatus in India. Overall a score of 8.5 out of 10 foreign engagement and 7.5 out of 10 on defence. 
 
 
Agriculture- Here the government has not been able to do that well, and it is understandable because there has been erratic weather accentuated by some mismanagement by the government. The sector is critical as most people are dependent on it for employment. Added to the weather were the issues of land acquisition and urea availability to farmers. Land Acquisition Bill though being blocked by the opposition on the farmer rights plank is linked directly to the development of clusters and employment of youth for especially rural areas. The focus of the government seems to be the development of irrigation facilities under its Pradhanmantri Krishi Sinchai Yojana. A fund was proposed to be set up for marginalized farmers with a corpus of Rs. 25000 crores in NABARD. An overall score of 6.5 on 10. 
 
Industrial policy and power- Industrial policy saw a continuity from the previous regime. The National Manufacturing Policy (NMP) was hailed by the 'Make in India' as the 'most comprehensive and significant policy initiative of the government'. The 'Make in India' is an initiative that is critically dependent on other factors. These include availability of land, ease of doing business as well as removal of inverse duty structures that make imports of finished products cheaper than finished products. Apart from this labour policies that favour flexibility in hiring and firing are also seen to be the main bottlenecks. While the government has taken some steps to rectify, these bottlenecks outcomes are yet to be seen. Similarly, the <keyword id="44528" type="ORGANIZATION" weightage="80" keywordseo="FDI">FDI</keyword> policy has seen incremental reforms with the opening up of <keyword id="35450" type="COMPANY" weightage="80" keywordseo="insurance">insurance</keyword> and defence sectors further to 49% from the earlier limit of 26%. Both these are positive steps for the economy. Greater structural changes could have been undertaken in these spheres especially with the mandate, but nonetheless significant work is been done. In the power sector, much has been achieved. It included the successful auction of the coal mines, which is slated to rope in a massive 15 lakh crore over the 30-year timeframe if all the mines are auctioned and are working at optimum output. Apart from this coal production was at an all-time high as well as the government seems on track to meet the power requirements of the country. Overall a score of 6.5 for industries and a score of 8 for power out of 10. 
 
Education- The countries' education system can broadly be classified under two broad areas- higher education and school education. There are several schemes that are operational under these. The government in the past one-year has come up with several new initiatives including the Beti-Bachao Beti Padhao Abhiyan, Swachh Vidyalaya and GIS Mapping of schools and has opened several new institutions. However, the fact remains that despite all government’s initiatives most people if given a choice, prefer private schooling since it gives their children a competitive edge later on in their careers. The governments of the past have failed in this and correcting this anomaly will take time. Also, in respect to higher education the government seems keen to have holistic development with several new AIIMS, IIM and IIT like institutions being opened in states that have a paucity of these. What remains to seen is how quality and not just quantity is pursued within these institutions while ensuring regional development. An overall score of 6.5 on 10. 
 
Infrastructure- The primary focus of the government in this sphere is up-gradation of existing and quick development of new infrastructure. The first can be observed in the push for railway up-gradation and improvement in customer service. The second can be observed more in the highways sector with the minister setting himself a target of 30 km a day by 2017. In March this year 11 km of roads were being laid. The broad ambit of infrastructure covers the development of roads, highways, ports, airport, waterways, canals, and railways. It is too early to judge the government's progress on the same however the fact that there is clearance for projects worth close to Rs. 6 lakh Crore across 10 key sectors. It shows intent on the part of government for infrastructure development. Overall a score of 7.5 on 10. 
 
Social Schemes- The social schemes of the government have been particularly impressive. These include the <keyword id="2494045" type="UNKNOWN" weightage="80" keywordseo="jan-dhan">Jan Dhan</keyword> Yojana, Pradhan Mantri Jivan Jyoti Bima Yojana (PMJJBY) Pradhan Mantri Suraksha Bima Yojana (PMSBY) and Atal Pension Yojana and many other social missions like the <keyword id="6562839" type="UNKNOWN" weightage="80" keywordseo="Swacch-Bharat-Mission">Swacch Bharat Mission</keyword> and the Clean Ganga Mission. For the Jan Dhan Yojana already around 12.5 crore accounts have been opened along with a capital infusion of Rs 10,500 crore into the system. The three recently launched social security schemes (namely the (PMJJBY), Pradhan Mantri Suraksha Bima Yojana ) and Atal Pension Yojana) have got nearly 6.5 crore subscriptions. It is because (PMJJBY) scheme offers Rs. 2 lakh cover for a mere 330 Rs. Per year (provided bank account holders are from age 18-50). Under the (PMSBY), renewable one-year accident cum disability cover of Rs. 2 lakh is provided for Rs.12 premium every year. The Atal Pension Yojana is aimed at those people who work in the unorganised sector and do not fall under the ambit of regular pension. The scheme offers pension under various brackets depending on the contribution made over a period. The scheme is for people in the age bracket 18-40 years. The social focus of the government is also evident from the fact the government has continued with previous schemes and linked them with technology for targeted interventions. The JAM (Jan Dhan Account, Aadhaar Cards and Mobiles) number Trinity as mentioned in the budget speech is an example of the same. The government seems to have a social focus for benefit to poor. An overall score of 8 on 10. 
 
Urbanization and Urban development- The urbanization and urban development received an increased thrust under the 100 Smart City project. The thrust of the present government is not only on up gradation of brownfield cities but also development of new greenfield cities. Traditionally, India has been slow to urbanize, and at present 32 percent of people reside in urban areas. However, the quality of urban life has seen a precipitous decline in the past few decades. The government's smart city initiative is a step aimed at understanding and absorbing the migration of people from rural to urban areas. However, the implementation of the project holds the key. Success in greenfield development is critically linked to land acquisition. Also, will the 'smart cities' improve liveability for the ever-burgeoning population remains to be seen? The project is ambitious in scope and the past year has seen some activity with the launch of the GIFT city in Gujarat and work on cities of DMIDC. An overall score of 6.5 on 10. 
 
Health and Environment- Health along with education have been two areas where successive governments have faltered. The system in India needs a drastic overhaul and increased spending by the government. Also there is a severe shortage of trained personnel in the sector. Add to this the decrepit facilities in rural areas that forces one to look at ways and means to better delivery. The activity in the health ministry was seen to be rather subdued. However, the taxation on cigarettes ensures that a majority of population reconsiders decision to buy cigarettes. The quality of air and the general pollution levels in Indian cities pose serious health issues for all residents. Disease patterns are also changing and this calls for a comprehensive approach to healthcare access and delivery. Not much has been done in this regard. An overall score of 6 on 10. 
 
<keyword id="107737" type="ORGANIZATION" weightage="80" keywordseo="Entrepreneurship">Entrepreneurship</keyword> and Employment- For the first time a separate ministry for entrepreneurship has seen the light of the day. This fact along with the fact that skilling are the main thrust areas of the ministry make it clear that the government is in sync with the present ground reality. A million people will enter the workforce every month over the next decade. So it becomes imperative that India produces jobs for its burgeoning workforce. That will not just come from formal and informal sector but will require a thrust for entrepreneurship. Similarly, thrust for skilling is imperative. Further, a draft policy on skill development and entrepreneurship has already been made and put out for public consultation. Though much remains to be seen in terms of its impact the direction and intent, in this case, seems to be spot on. An overall score of 7.5 on 10. 
 
Overall, in assessing the performance, the government seems to have taken cognizance of the major challenges facing India in multiple spheres and taken requisite steps. It seems to be headed in the right direction. It augurs well for India in the medium to long term. Much will depend on the speed of legislation, decision-making and implementation over the next four years. 
 
(Dr. Amit Kapoor is President and CEO of India Council on Competitiveness and Honorary Chairman of Institute for Competitiveness, India. He tweets @kautiliya and can be contacted at <a href="mailto:amit.kapoor@competitiveness.in">amit.kapoor@competitiveness.in</a>. The article is co-authored with Sankalp Sharma who is Senior Researcher at Institute for Competitiveness)

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6 reasons why the Indo-Africa Forum Summit is more important than you would imagine

Anushree Singh

Budget 2015: Tax Sops Galore, both India Inc and people cheer

BI India Bureau

Make In India Is A Very Strong And Clear Message To The World: Marco Siebert

Purba Das

Assessing one year of Modi Government: 6/10 leaving scope for major improvement

Amit Kapoor