INDIA IN EMERGING MARKET
India has emerged as the second most promising market after China in terms of maximum opportunity for rapid growth among emerging market economies, says a survey.
According to the survey by Tata Communications in association with research company Vanson Bourne, more than half of the respondents believe China offers the maximum opportunity for rapid growth opportunities, followed by India at 46 per cent and Brazil at 26 per cent.
POVERTY LINE WORLD BANK NOT TO CUT INDIA LOANS
The World Bank will not reduce financial assistance to India for poverty alleviation measures because of the recent official data that showed a decline in the number of poor people in the country.
The international funding agency takes a long-term view on its commitments and the poverty data released on Monday will not have any bearing on those commitments.
According to the data by the Planning Commission, the number of people under the poverty line - whose daily consumption is below Rs 28.65 for urban centers and Rs 22.43 for rural areas - declined to 29.8 per cent in 2009-10, from 37.2 per cent in 2004.
FDI UP BY 92% IN JANUARY
India received USD two billion foreign direct investment (FDI) in January, showing an annual growth of 92 per cent and taking cumulative inflows to USD 26.19 billion for April-January period of the current fiscal.
In January 2011, the country received foreign direct investment (FDI) worth USD 1.04 billion.
Experts feel if reforms are pushed, there is much more potential for attracting increased foreign investment.
"There is an urgent need for strong reforms like 100 per cent FDI in sectors like multi-brand retail and insurance.
There is a need to boost investor confidence. USD 2 billion in month is not a big number," Ficci Secretary General Rajiv Kumar said.
The sectors which received large foreign FDI inflows during the 10-month period this fiscal are: services (USD 4.83 billion), pharmaceuticals (USD 3.20 billion), telecommunication (USD 1.99 billion), construction (USD 2.23 billion), power (USD 1.56 billion) and metallurgical industries (USD 1.65 billion).
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