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The pre-budget <keyword id="20613906" type="General" weightage="100" keywordseo="economic-survey" source="keywords">Economic Survey</keyword> highlights the need for measures to boost <keyword id="19973896" type="General" weightage="20" keywordseo="talent" source="keywords">talent</keyword> and <keyword id="19959621" type="General" weightage="20" keywordseo="productivity" source="keywords">productivity</keyword> through <keyword id="19974189" type="General" weightage="20" keywordseo="private-sector" source="keywords">private sector</keyword> investment, experts said on Monday. Finance Minister <keyword id="19916618" type="General" weightage="20" keywordseo="nirmala-sitharaman" source="keywords">Nirmala Sitharaman</keyword> tabled the Economic Survey for 2023-24 in Parliament. Rumki Majumdar, Economist, <keyword id="20006170" type="General" weightage="20" keywordseo="Deloitte-India" source="keywords" meta.keywordsubtype="org" meta.entityname="Deloitte India" meta.hostid="261" meta.entityid="Deloitte India">Deloitte India</keyword> said the Survey has highlighted measures to boost talent and productivity through private sector investment in <keyword id="20077463" type="General" weightage="20" keywordseo="skills" source="keywords">skills</keyword> (in addition to what the government is initiating), physical and digital connectivity and building state capacity and capabilities. She said <keyword id="19910977" type="General" weightage="20" keywordseo="MSMEs" source="keywords">MSMEs</keyword>, agriculture, education and <keyword id="19898684" type="General" weightage="20" keywordseo="employment" source="keywords">employment</keyword>, and upskilling as key pillars for uplifting the masses through jobs, income and skills. Aditi Nayar, Chief Economist and Head - Research &amp; Outreach, ICRA said the Survey stresses that in the medium term, growth needs to be supported by the private corporate sector as well as the state governments. On inflation, she said that "managing inflation is not just the prerogative of the RBI and its MPC, and would require active intervention by the Centre, especially in the arena of food price management. The realisation of both these paradigms is crucial to ensure an optimal growth-inflation mix over the medium term."

Survey highlights need for private investments to boost talent, productivity: Experts

Mumbai, Jan 21 () India needs a whopping USD 2.64 trillion investment to meet the UN's sustainable development goals (SDGs), offering the private sector an investment opportunity of over USD 1.12 trillion by 2030, according to a report.
 According to the Standard Chartered SDG Investment Map, the total investment that the country needs to make by 2030 is a whopping USD 2,633.9 billion. Of the total, USD 1,558.8 billion is for clean energy, USD 505.5 billion for transport infrastructure, USD 377.4 billion for digital access; and USD 192.2 billion for clean water and sanitation.
 Of the total USD 2.64 trillion of investment needed, the potential investment opportunity for the private sector is a whopping USD 1.12 trillion with USD 701.5 billion going into clean energy, USD 226.5 billion for digital access, USD 176.9 billion in transport infrastructure, and USD 19.2 billion for clean water and sanitation, said the report.
 For the emerging markets as a whole, the opportunity for the private sector is around USD 10 trillion, said the report adding that "India represents USD 1.124 trillion of SDG opportunity, or more than 10 per cent of the USD 9.668 trillion opportunity for private sector investors across all emerging markets to help achieve the UN goals."
 At USD 701.5 billion, the greatest private sector opportunity in the country is investment in achieving and maintaining universal access to electricity, which is the seventh SDG.
 The study identified opportunities for the private sector to contribute to three infrastructure-focused goals between now and 2030 - SDG 6: Clean water and sanitation, SDG 7: Affordable and clean energy, and SDG 9: Industry, innovation and infrastructure.
 Seven per cent of the country's population still do not have access to electricity.
 The opportunity in the water and sanitation is USD 19.2 billion as 24 per cent of the people still do not have access to clean water and sanitation and closing this gap by 2030 will require investment of close to USD 20 billion, said the report. 
 The SDG 9 calls for improvement in industry, innovation and infrastructure by 2030 wherein private sector can chip into transport and digital areas which requires an investment of around USD 226.5 billion. Of the total, transport infrastructure alone will need USD 176.9 billion of investment. The present digital access is only 45 per cent.
 "Opportunity 2030 provides an important map of the SDG opportunities for private sector investors looking to invest with impact and improve the lives of millions of Indians over the next decade," Bharat Padmanabhan of StanChart said.
 The Opportunity 2030 study spans 15 of the world's fastest-growing economies and estimates the potential private-sector investment opportunity to contribute to three of the most investment-ready SDGs (6,7 and 9). BEN HRS

India needs USD 2.64 tln investment to meet SDGs by 2030: Report

Mumbai: India is on track to becoming the <keyword id="20432305" type="General" weightage="20" keywordseo="third-largest-economy" source="keywords">third-largest economy</keyword> by 2030-31, driven by a projected annual growth rate of 6.7 per cent this fiscal, <keyword id="19990557" type="General" weightage="20" keywordseo="SP-Global" source="keywords" meta.keywordsubtype="org" meta.entityname="S&amp;P Global" meta.hostid="153" meta.entityid="S&amp;P Global">S&amp;P Global</keyword> said in a report on Thursday. The report also said that with 8.2 per cent growth rate in FY2024, continued reforms are crucial to improving business transactions and logistics, boosting <keyword id="20423043" type="General" weightage="20" keywordseo="private-sector-investment" source="keywords">private sector investment</keyword>, and reducing reliance on public capital. It said equity markets are expected to stay dynamic and competitive due to strong growth prospects and better regulation, and foreign inflows into Indian government bonds have surged since the country joined major emerging market indexes, with further growth anticipated. To maximize trade benefits, India must develop infrastructure and geopolitical strategies, particularly regarding its extensive coastline, said the first edition of 'India Forward: Emerging Perspectives' report. Nearly 90 per cent of India's trade is seaborne, necessitating robust port infrastructure to manage increasing exports and bulk commodity imports, it added. Noting that India faces rising domestic energy demands and can look to sustainable technologies, including renewables and low-emission fuels, balancing energy security with its energy transition plans, the report stated that agriculture will rely on advanced technologies and new policies to improve infrastructure and productivity. The need is to address critical infrastructure issues such as irrigation, storage, and supply distribution to ensure food security and economic stability, it added. The <keyword id="23234467" type="General" weightage="20" keywordseo="sp-global-india-research" source="keywords">S&amp;P Global India Research</keyword> Chapter's inaugural study was launched here on Thursday.

India on track to becoming third-largest economy by FY31: S&P Global report

<div class="KonaFilter image-container display-table"><div><div class="image on-image"></div></div></div><ul><li>US Secretary of State Mike Pompeo said Sunday the US would be interested in American private sector investment in the country if they comply with President Donald Trump's demands for denuclearization.</li><li>Pompeo told Fox <keyword id="6355005" type="UNKNOWN" weightage="60" keywordseo="news">News</keyword> Sunday Americans would invest in North Korean infrastructure and agriculture, so North Koreans could "eat meat and have healthy lives".</li></ul>US Secretary of State Mike Pompeo said Sunday that if North Korea agrees to fully dismantle its nuclear weapons program, then the United States will allow the American private sector to invest in the country."This will be ... private sector Americans ... coming in to help build out the energy grid that needs enormous amounts of electricity in North Korea," Pompeo said in an interview on "Fox News Sunday."He added that Americans will also help invest in North Korean infrastructure and agriculture to help feed its people if the country meets US demands."All the things the North Korean people need the capacity for American agriculture to support North Korea so they can eat meat and have healthy lives," Pompeo said. "Those are the things that if we get what the president has demanded, the complete, verifiable, irreversible de-nuclearization of North Korea, that the American people will offer in spades."Pompeo recently said North Korea would be "<a href="http://www.businessinsider.com/pompeo-north-korea-brimming-with-prosperity-if-it-scraps-nukes-2018-5" target="_blank" rel="noopener">brimming with prosperity</a>" if it gave up its nuclear weapons soon, ahead of a historic summit between US President Donald Trump and Kim Jong Un.<h2>Watch the exchange below:</h2><div></div> <div class="margin-top"> <h3>NOW WATCH: <a href="http://www.businessinsider.com/why-never-release-pet-goldfish-into-wild-2018-4">Why you should never release your pet goldfish into the wild</a></h3> <div> </div> </div></hr>

Pompeo says American companies could invest in North Korea if Kim Jong Un meets US demands

The <keyword id="6416832" type="ORGANIZATION" weightage="80" keywordseo="Ministry-of-Commerce-and-Industry">Ministry of Commerce and Industry</keyword> today said that steps taken to boost defence manufacturing would encourage foreign companies to invest more in India. The government withdrew excise and customs duty exemptions enjoyed by the <keyword id="594435" type="ORGANIZATION" weightage="80" keywordseo="Ordinance-Factory-Board">Ordinance Factory Board</keyword> and defence PSUs to provide a level-playing field to private players. 
 

	"This will provide a level-playing field...by taking away the strategic advantage with PSUs for quoting lower rates in open bids,” as per a PTI report. "With this initiative, the government has also fulfilled demand of foreign Original Equipment Manufacturers (OEMs) such as Boeing, Airbus, <keyword id="112859" type="CITY" weightage="80" keywordseo="Lockheed-Martin">Lockheed Martin</keyword>, BAE Systems etc which are actively exploring the scope of future <keyword id="6362476" type="ORGANIZATION" weightage="60" keywordseo="investments">investments</keyword> in India," according to a statement issued by the Ministry of Commerce and Industry. 

	The statement further said the move would also send a definitive message to foreign OEMs that India is open to business and investment for defence manufacturing. Moreover, defence manufacturing is one of the key sectors among the 25 sectors identified under the Make-in-India campaign, an initiative by the <keyword id="6360789" type="ORGANIZATION" weightage="80" keywordseo="Modi-Government">Modi government</keyword>. 
	 

	India is the highest importer of defence equipments in the world. Therefore, Indian aerospace and defence market attract many global players. The government has systematically opened up the sector for private investment by increasing Foreign Direct Investment (<keyword id="44528" type="ORGANIZATION" weightage="80" keywordseo="FDI">FDI</keyword>) cap in defence of up to 49% and rationalising certain conditions. 
	 

	"A number of initiatives have been taken by the new government to incentivise the private sector, including foreign OEMs, to engage in the Defence and Civil Aerospace sector," as per the statement issued by the ministry. 
	 

	It added that a series of consultations have been held across ministries and departments to enable simplification of rules and procedures to promote private participation in defence manufacturing and exports. 
 

	(Image: Indiatimes)

Govt. provides private firms level-playing field with defence PSUs to boost manufacturing

The <a href="http://www.businessinsider.in/searchresult.cms?query=foreign+direct+investment">foreign direct investment (FDI) </a>in private sector banks might go up by 100%. The matter is now being discussed by the <keyword id="156153" type="ORGANIZATION" weightage="20" keywordseo="Ministry-of-Finance">Ministry of Finance</keyword>, the <a href="http://www.businessinsider.in/searchresult.cms?query=DIPP">department of industrial policy &amp; promotion (DIPP)</a> and the <a href="http://www.businessinsider.in/searchresult.cms?query=RBI">Reserve Bank of India (RBI).</a> 
 As published in an Economic Times report, <keyword id="6653" type="CITY" weightage="20" keywordseo="ICICI-bank">ICICI Bank</keyword>, <a href="http://www.businessinsider.in/searchresult.cms?query=HDFC+">HDFC Bank </a>and other private sector banks might become fully foreign-owned entities, with an aim to raise investments from overseas. 
 
The move will come in connection to the government’s aim of fetching more and more foreign direct investment and open up key sectors for overseas participation. 
 ICICI Bank, as believed by the Reserve <keyword id="6355303" type="CITY" weightage="20" keywordseo="Bank-of-India">Bank of India</keyword>, is one among the two of India’s most systemically important banks. The other one being government-owned <keyword id="6354731" type="CITY" weightage="20" keywordseo="State-Bank-Of-India">State Bank of India</keyword>. 
 Currently, the <keyword id="44528" type="ORGANIZATION" weightage="20" keywordseo="FDI">FDI</keyword> limit is 74% out of which, 49% is allowed automatically and the rest needs to be approved by the Foreign Investment Promotion Board (FIPB). 
 
According to the officials, who requested anonymity, "The MoF response is still awaited but it is likely they will agree. Any decision will be taken after there is an agreement between all stakeholders." 
 What the industry experts are talking of is the solution that the additional 26% increase be subjected to the approval route. Allowing an increase to the maximum will provide room for further overseas investment, given that this is already close to the 74% limit in <keyword id="6357149" type="CITY" weightage="20" keywordseo="HDFC-bank">HDFC Bank</keyword>, the country's biggest private bank by market capitalisation. While in ICICI Bank, it’s about 70%. 
 Establishing foreign banks to set up wholly-owned subsidiaries in India could also be considered. It would then follow that private sector banks that are majority foreign owned can be 100% overseas held subject to safeguards. Abolishing the limit may help persuade foreign banks to set up local units as the <keyword id="30067" type="ORGANIZATION" weightage="20" keywordseo="RBI">RBI</keyword> wants. 
 
"This may further give India the leverage to push foreign banks to open wholly-owned subsidiaries in the country," said the official. So far, only four foreign banks have applied to the RBI seeking approval for wholly-owned subsidiaries. The idea is that once they do this, such banks would be treated on par with local ones. 
 
In July, the government approved a composite cap policy for foreign investment, implying that there will be no sub-limit within the overall overseas ceiling for any particular investor category. 
 
However, in the case of private banks, the specific sub cap of 49% on foreign portfolio investment remains given concerns over volatile flows into and out of sectors that are critical to the economy. 
Image: indiatimes

Some of India’s top Pvt Banks could soon lose their ‘Indian’ status

<ul class="summary-list"><li>Julia Kiryanova is the CEO of Smart Holding, one of Ukraine's largest investment groups.</li><li>She is hoping governments and big firms will funnel billions of dollars to help Ukraine rebuild.</li></ul>The as-told-to essay is based on a conversation with Julia Kiryanova, the CEO of Smart Holding, one of Ukraine's largest investment groups. It's been edited for length and clarity.I am the CEO of Smart Holding, one of Ukraine's largest production and investment groups. I've been traveling to Western capitals, trying to get business leaders and policymakers to invest in my country's reconstruction.What we've seen since the war started is a lot of governmental talk. Of course, there are lots of good reasons for that — military tasks are the prime ones for Ukraine today.However, that should not come at the price of a strong economy. And a strong economy is only possible when the corporate sector is an active participant.Only the private sector and foreign investors can rebuild the country.<h2>I am traveling to them so they can better understand Ukraine's needs</h2>Having this in mind, I'm seeing policymakers, think tanks, business associations, and the businesses themselves in their own countries.I want them to understand the situation in Ukraine because sometimes they cannot get it through the media or through any other type of source.I'm also getting their views, their plans for Ukraine, and how we can support each other in assisting this process and building partnerships.I have been discussing with officials at the State Department in Washington, DC, how we can improve communications between the private and public sectors in Ukraine.<div type="image" title="Julia Kiryanova in front of the Capitol Building in Washington, DC" height="960" width="1280" msid="106347644" hostid="261"></div>Then, I discussed Ukraine's reconstruction with 7 or 8 MPs of the UK Parliament.I had two very productive meetings with the European Commission in the run-up to its Ukraine Facility proposing to provide $54 billion.We discussed practical matters, like how to finance that facility in line with international financial institutions.(Editor's note: Since Kiryanova spoke to BI, the EU spending package was blocked. Hungary, one of the 27 member states, vetoed the plan.)In Germany, I met with advisors to the Chancellery as well as MPs from the Bundestag.<div type="image" title="Julia Kiryanova" height="1600" width="2000" msid="106347646" hostid="261"></div>During those talks, I tell them there are business opportunities in Ukraine and the value they can get out of Ukraine.<h2>I am laying the ground work and building momentum for the post-war economy</h2>So far, I have not heard any promises of investments in Ukraine's industry from private investors.But I am focused on the long run. I do not hope someone will invest immediately tomorrow. If I had these hopes, I'd be frustrated.We're now working on long-term relationships, which need time and effort.If foreign investors could adjust their risk appetite, they could invest with us today.Therefore, I'm saying — now is the time to invest. And those who take this risk today will reap the benefits afterwards.But they need to take it.<h2>Massive investment will come after the war</h2>To me, Ukraine's reconstruction goes through two phases.The first phase is when there will be government-to-government assistance to rebuild some of the key infrastructure and key housing in Ukraine.That is a clear responsibility of the state because only governments can generate the capital required for such reconstruction.And the second phase is when the private sector comes into play.By that time, the investment climate and the incentives should be there for a boost in Ukraine's economy. The boost will only come when the private investors have a clear vision of how they can get their money into Ukraine.However, I'm not saying the private sector will not invest during the first phase or even during the war. I'm saying massive investment will only come after the war.For the private sector to get prepared to invest at that second stage, we need to have all these discussions now. Foreign investors need to get to know the market, the local partners, and the pre-conditions for investment. This is all now — not after the war.<h2>It is hard work but I am a realist</h2>I feel realistic about the challenges ahead. Ukraine is in a very difficult situation with an unknown time horizon.Sometimes the messaging can be frustrating, especially with aid packages not being approved by the US — which is critical — or the EU.But I do believe we're having success. We've held conferences about Ukraine's reconstruction in Lugano, Switzerland, and in London.And we're holding one in Berlin, Germany, in June — Ukraine's third-biggest conference on reconstruction. These conferences are milestones.If the private sector is there, then it is a success. Again, there is a long way to go.

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