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India Reclaiming Place as Growth Leader, Says IMF India is estimated to have grown at 6.7 per cent in 2017 despite initial setbacks from demonetisation and the Goods and Services Tax (GST), according to the 2018 Global Economics Prospect released by the World Bank recently. New Delhi:  After a short period of slowdown in the economy, India is reclaiming its place as a growth leader, first deputy managing director of the International Monetary Fund (IMF) David Lipton said today. Addressing the Asian Financial Forum, Hong Kong, he also said that right now, the sun is shining on the global economy and capital-intensive investment and consumer demand are rising India is reclaiming its place as a growth leader after a short slowdown," the IMF quoted Lipton as saying. With strong consumption and investment, rising exports, and steady capital inflows, the outlook for Asian region remains bright, he added. Recently, World Bank had also projected India's growth ra...

Don't Make in India? Japanese Steel, Engineering Firms Likely to Bag $17 Million Bullet Train Contracts The Japanese have reservations on certain issues because they have a concern that there is a difference in the culture and systems of Japan from the culture and systems in India, say those in charge of the bullet train project in India . New Delhi/Tokyo:  Japanese steel and engineering companies are in the driver's seat to bag major supply contracts for the $17 billion bullet train project in Gujarat, several sources said, undermining a key component of Prime Minister Narendra Modi's economic policy - a push to 'Make in India'. Japan is funding most of the project, and Japanese companies are likely to supply at least 70 percent of the core components of the rail lin Nippon Steel and Sumitomo Metal Corp , Japan's biggest steelmaker, and other companies like JFE Holdings Inc , Kawasaki Heavy Industries Ltd , Mitsubishi Heavy Industries Ltd , Toshiba C...

IMF, World Bank Laud RBI for 'Strengthening' Supervision The International Monetary Fund (IMF) and the World Bank had released two separate main Reports of the 2017 India Financial Sector Assessment Programme (FSAP) in December 2017. New Delhi:  The IMF and the World Bank have commended the Reserve Bank of India for its "remarkable progress in strengthening banking supervision" saying the regulation by the central bank has improved in recent years. The International Monetary Fund (IMF) and the World Bank had released two separate main Reports of the 2017 India Financial Sector Assessment Programme (FSAP) in December 2017. In continuation, the IMF and the World Bank yesterday released two detailed assessment reports (DARs) relating to the 2017 India FSAP. The report providing 'Detailed Assessment of Observance— Basel Core Principles for Effective Banking Supervision' has been released by the IMF and the World Bank. The report providing '...

Maharashtra to Help India Enter Top-50 on Ease of Doing business: Amitabh Kant Mahindra & Mahindra managing director Pawan Goenka disagreed, saying the state has a strong presence in manufacturing and should continue focussing on the same Mumbai:  Maharashtra will play a key role in helping the country to break into the top 50 in the global list for ease of doing business over the next two years, Niti Aayog chief executive Amitabh Kant has said. "We have jumped 42 ranks in the ease of doing business list of the World Bank in 2017, and Maharashtra has played a stellar role in that," Kant told the ongoing Maharashtra investors summit, adding, "to reach the top 50 in two years, Maharashtra will again play a key role." Complimenting chief minister Devendra Fadnavis for his roadmap to attract investments to catapult the state into becoming a trillion-dollar economy by 2025, GVK vice-chairman Sanjay Reddy said while these ideas will help set growth in motion...