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Swedish companies are happy with the Modi Government's track record. More importantly, they are confident that the business environment in India will only get better in the coming years. So says the annual business confidence survey conducted by the Swedish Chamber of Commerce in India.

 

Source:Money Control

Global sales of DRAM chips grew 13.4 percent from a quarter earlier to US$14.13 billion last quarter, as a tight supply shortage boosted commodity DRAM prices by more than 30 percent and mobile DRAM prices by almost 10 percent, TrendForce Corp (集邦科技) said. Samsung Electronics Co took the top position after posting sales of US$6.32 billion in the quarter, followed by SK Hynix Inc’s US$4.05 billion in sales and Micron Technology Inc’s US$2.96 billion. TrendForce said that momentum is expected to continue and send product prices up another 10 percent this quarter

 

LABO

 

Furlough numbers dow

 

The number of workers on unpaid leave in Taiwan in the first half of this month fell to a low of almost six years at a time when the nation’s economy is showing signs of improvement, the Ministry of Labor said on Tuesday. As of May 15, the number of workers who took unpaid leave fell from 184 at the end of last month to 102, the ministry said. The number of employers who implemented their unpaid leave programs also fell to a six-year low of four as of Tuesday, it said

 

TRAD

 

‘Taiwan Desk’ in Dehl

 

The Ministry of Economic Affairs established a “Taiwan Desk” at the Taipei Economic and Cultural Office (TECO) in New Delhi on Thursday with a ceremony hosted by Representative to India James Tien (田中光) and Dushyant Thakor, deputy head of “Invest India” under India’s Ministry of Commerce and Industry. Nearly 90 Taiwanese firms have set up branches in India and Taiwan’s foreign direct investment in India reached US$177 million last year, the TECO said. Bilateral trade between reached US$5.01 billion last year, the office said.

 

Source: Taipei Times

Foreign direct investment (FDI) inflows hit an all-time high of $60.1 billion in 2016-17, the commerce and industry ministry said on Friday, as the Narendra Modi government eased rules to lure global conglomerates to set up shop in sectors such as defence and railways.

 

In the last three years, the government has eased 87 FDI rules across 21 sectors to accelerate economic growth and boost jobs. 

 

"The country has now become the topmost attractive destination for foreign investment," the ministry said in a statement.

 

FDI inflows were at $55.6 billion for the year ending March 2016, which was a record. In 2016-17, the FDI inflows were even higher at $60.08 billion.

 

Since 2014, the Modi government opened up "conservative" sectors like rail infrastructure and defence. FDI reforms were also carried out in financial sector, medical devices and construction sectors.

 

FDI rules were radically overhauled across sectors such as broadcasting, retail trading and air transport. The Modi government amended legislation to hike the foreign investment cap to 49 per cent in insurance and pension from the earlier 26 per cent.

 

"The momentum of positive business climate was further ignited with launch of Make in India initiative in September 2014," the ministry said.

 

In addition, initiatives such as introduction of composite caps in the FDI policy and raising the FIPB approval limit were also undertaken to promote ease of doing business in the country.

 

For retail trading of food products, the government permitted 100 per cent FDI with unqualified condition that such food products have to be manufactured or produced in India.

 

Source: Times of Oman

Finance Minister Arun Jaitley will discuss potential areas of boosting cooperation between India and Africa here on Monday. Mr. Jaitley will open the India-Africa Cooperation session being held in conjunction with the annual meeting of the African Development Bank (AfDB).

 

The sessions will cover areas such as trade and investment, agriculture, renewable energy and manufacturing among others. Total trade between India and Africa increased almost five-fold between 2005-06 and 2015-16, and stood at $52 billion in March 2016-17.

 

This is the first time that the African Development Bank is holding its annual meeting outside of the African continent.

 

India’s exports to Africa increased from $14 billion in 2007-08 to $23 billion in 2016-17, with compound annual growth rate of 5.6%.

 

Indian imports from Africa increased from $20 billion in 2007-08 to $28 billion in 2016-17 accounting for 7.5% of total Indian imports.

 

Heads of states from Benin and Rwanda and other African countries as well as vice-presidents from Comoros and Cote d’Ivoire and AfDB president Akinwumi Adesina are expected to address the sessions.

 

Source: The Hindu