Commerce Ministry prepares Vision Report on achieving USD 5 trillion Indian economy, seek further suggestions

NEW DELHI: The Working Group tasked to develop a roadmap towards achieving a 5 trillion dollar economy by 2025 has prepared its report and it is being circulated to the stakeholders for further suggestions. The Working Group was constituted by the Department of Industrial Policy and Promotion in the Ministry of Commerce and Industry with
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Storm clouds were building over the global economy, even before the brutal sell off in stock markets during the last 24 hours. Escalating oil prices, rising interest rates, an appreciating dollar, and growing uncertainty about the outlook for international trade are proving a poisonous cocktail for global growth and have been triggered crises in the
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India’s economy continues on a robust growth path, the Asia Development Bank (ADB) has said in an of its flagship annual economic publication, the Asian Development Outlook (ADO) 2018. Indian growth forecast remained unchanged at 7.3 per cent for 2018, and 7.6 per cent for 2019, as the temporary effects of demonetisation and introduction of
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Predictable, and still a bit jarring: The Federal Reserve forged ahead on the tightening path, and big-buck tariffs between the U.S. and China took effect, plunging those two economies further into trade hostilities. Meanwhile, the Bank for International Settlements warns that central banks aren’t ready for a storm that could be coming. Here’s our weekly
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NEW DELHI: Prime Minister Narendra Modi recently said that the size of Indian economy will double to USD 5 trillion by 2022 with manufacturing and agriculture contributing USD 1 trillion each.  Indian economy, he said, will grow at over 8 per cent rate with massive employment generation being seen in IT and retail sectors. Macroeconomic
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The U.S. economy will expand at a robust pace in coming quarters but slow to 2 percent by the end of 2019, according to forecasters polled by Reuters who unanimously said the escalating trade war with China was bad economic policy. In a sign the trade war is not likely to end any time soon,
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Mario Draghi said the euro-area economy is still solid enough to cope with global risks, even with new European Central Bank forecasts showing that growth will cool slightly faster than previously predicted. “We are observing an underlying strength of the economy that makes us think that the downside risks are going to be mitigated by
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The Union Cabinet, chaired by Prime Minister, Mr Narendra Modi, has given its ex-post facto approval for the Memorandum of Understanding (MoU) on Collaborative Research on Distributed Ledger and Blockchain Technology in the context of development of digital economy by Export-Import Bank of India (Exim Bank) with the participating member banks, under the BRICS Interbank
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Crude Oil Price Movements In August, the OPEC Reference Basket declined by $1.01 m-o-m, settling at $72.26/b. Crude oil futures were also down for the month. Price declines were mainly due to worries that the ongoing global trade disputes would lower oil demand, strengthening US dollar, US stock builds and reported supply increases. ICE Brent
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The Union Minister for Commerce and Industry and Civil Aviation, Mr Suresh Prabhu, has stressed that India will become a $5-trillion economy in seven years, and certainly a $10-trillion economy by 2035, and that the government has prepared a multi-sectoral strategy for the same. Speaking at an event organised by the US-India Business Council in
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