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Stating that India's growth will benefit from recent policy reforms, a consequent pickup in investment, and lower commodity prices, the IMF projected a 7.5 per cent growth rate for India in 2016, against China's 6.3 per cent. However for the current 2015 year, the IMF has projected 7.3 percent growth rate, which is 0.2 per cent less than its projection made for the year in July. 

In emerging economies, growth will decline for the fifth year in a row in 2015, before strengthening next year, the IMF said in its report 'G-20: Global prospects and challenges' issued ahead of the G-20 Summit in Antalya, Turkey next week.

"Growth in China is expected to decline as excesses in real estate, credit, and investment continue to unwind. India's growth will benefit from recent policy reforms, a consequent pickup in investment, and lower commodity prices," the report said. In Brazil, weak business and consumer confidence amid difficult political conditions and a needed tightening in the macroeconomic policy stance are expected to weaken domestic demand, with investment declining particularly rapidly.

In Russia, economic distress reflects the interaction of falling oil prices and international sanctions with preexisting structural weaknesses. Emerging-economy growth is projected to rebound in 2016, reflecting mostly a less deep recession or an improvement of conditions in countries in economic distress (eg. - Brazil, Russia, and some countries in Latin America and the Middle East), the report said.

"Strong domestic demand in India should also be a positive factor in 2016," IMF said. "However, if the world economy's transitions are not successfully navigated, global growth could be derailed," it warned. Prominent risks include: negative spillovers from China's growth transition; further falls in commodity prices; adverse corporate balance-sheet effects and funding challenges related to dollar appreciation and tighter global financing conditions; and capital flow reversals.

 

Any of these could substantially weaken the recovery, particularly in emerging and developing countries, the report said.

Source: Moneycontrol.com

Indo-UK Healthcare, a consortium of Indo-British promoters, has committed to invest over Rs 10,000 crore to bring the famed NHS Hospitals of England, apart from other leading English educational institutions and universities into the country over the next few years.

The initiative is supported by Healthcare UK, a joint initiative of the British department of health, UK Trade and Investment and the National Health Service (NHS) England.

Under the agreement signed in the presence of visiting Prime Minister Narendra Modi and his host David Cameron, the first hospital, King's College Hospital, England will come up in New Chandigarh at an investment of 100 million pounds or Rs 1,000 crore, a statement from Indo-UK Healthcare said.

However, it did not say when the first hospital will become functional.


"Each of the 11 Indo-UK Institutes of Health will entail a foreign direct investment of around Rs 1,000 crore across 11 states and will include multispecialty NHS-branded hospital for healthcare delivery, clinical support services, NHS e-health, staff accommodation, a medical college, a nursing college, R&D facilities, medical manufacturing facilities and a medical mall," the statement added.

The project, once completed, will employ 5,000 doctors and 25,000 nurses, allied health specialists for the 11,000 beds.

The project has the potential of creating upwards of 1,00,000 jobs.

The medical and nursing colleges will train 15,000 new MBBS doctors and 20,000 nurses, it added.

Funds for the project will be raised through a combination of debt and equity from a consortium of banks, including UK Export Finance and leading private equity players including Elara Capital.

Elara Capital shall be acting as sole advisor for raising funds for these projects.

A memorandum of understanding has been signed between Indo-UK Healthcare and Shapoorji Pallonji to construct these 11 institutes of health.

The first of the Indo-UK Institutes of Health, King's College Hospital will be set up in New Chandigarh, Punjab.

"This is the first of a proposed eleven new Indo-UK Institutes for Health that will be developed across 11 states. When fully implemented, they would amount to 1 billion pounds in investment into the country's healthcare system, accompanied by strategic clinical and training partnerships with the finest NHS organisations, universities and private sector companies," the statement said.

Source: Times of India

India's services industry expanded at its fastest pace in eight months in October as new business rose with discounting probably stoking demand, a survey showed on Wednesday.

The survey results are likely to provide some comfort to policymakers after a sister survey on Monday showed India's manufacturing growth cooled to a 22-month low in October.

The Nikkei/Markit Services Purchasing Managers' Index rose to 53.2 in October from September's 51.3, marking a fourth month above the 50-level that separates growth from contraction.

Growth was underpinned by a surge in new business, which hit its highest since February.

But the improved activity came as firms cut prices again in October - the second month in a row companies have had to resort to discounting to drum up new business.

A sub-index measuring prices charged was 49.6, just marginally higher than the previous month's 49.5.

The last time firms reported cutting prices in consecutive months was in early 2009, when overall business activity was below-50 levels.

"Services companies saw a faster rise in new business than their manufacturing counterparts, with data implying that price discounts supported growth of new projects," Markit economist Pollyanna De Lima said.

Lower prices charged to consumers will probably help further cool India's retail inflation, currently at 4.41 per cent.

The Reserve Bank of India, however, is not expected to ease policy anytime soon after it cut the benchmark lending rate four times since January, most recently in September, in an effort to boost growth.

Firms reported no change in payrolls, with no new job additions being made since July.

Source:NDTV

India's services industry expanded at its fastest pace in eight months in October as new business rose with discounting probably stoking demand, a survey showed on Wednesday.

The survey results are likely to provide some comfort to policymakers after a sister survey on Monday showed India's manufacturing growth cooled to a 22-month low in October.

The Nikkei/Markit Services Purchasing Managers' Index rose to 53.2 in October from September's 51.3, marking a fourth month above the 50-level that separates growth from contraction.

Growth was underpinned by a surge in new business, which hit its highest since February.

But the improved activity came as firms cut prices again in October - the second month in a row companies have had to resort to discounting to drum up new business.

A sub-index measuring prices charged was 49.6, just marginally higher than the previous month's 49.5.

The last time firms reported cutting prices in consecutive months was in early 2009, when overall business activity was below-50 levels.

"Services companies saw a faster rise in new business than their manufacturing counterparts, with data implying that price discounts supported growth of new projects," Markit economist Pollyanna De Lima said.

Lower prices charged to consumers will probably help further cool India's retail inflation, currently at 4.41 per cent.

The Reserve Bank of India, however, is not expected to ease policy anytime soon after it cut the benchmark lending rate four times since January, most recently in September, in an effort to boost growth.

Firms reported no change in payrolls, with no new job additions being made since July.

Source:NDTV

India has been ranked as the most attractive investment destination in the world for the next three years, according to a survey by Global consultancy firm EY released on Wednesday.

32% of the business leaders from global corporations polled for the survey said India is the most attractive investment destination in the world, followed by China, Southeast Asia and Brazil.