Inmarsat, the global satellite operator is looking at India to offer commercially high-speed internet services on mobile phones allowing users to stream videos flying on a plane or driving on highways, once its next generation satellite is launched in two years.
Inmarsat has a fleet of four Global Xpress (GX) satellites - that have Ka band transponders with the ability to beam high-speed broadband on mobiles, currently, the only operational fleet in the world.
A fifth one, to be launched in 2019 will cover India, a market as its chief executive Rupert Pearce says is an "important long term opportunity".
"It also gives us access to the Indian Subcontinent for the first time, because it allows us to put a gateway in India to support GX services and break into India with GX services, which is an important long-term - I stress, long-term opportunity," Pearce said earlier this week.
The satellite operator is setting up a gateway jointly with a local firm in the country to offer the commercial services. India, like countries such as Russia and China, mandates satellite service providers to set up a local hub to originate or connect calls or access internet from its soil.
Inmarsat, which was founded as an organisation of the United Nations, has since become commercial and owns a fleet of 13 communication satellites, which helps in providing mobile connectivity on high seas, inaccessible mountains and on highways. It also provides services to the US government as well as enterprises. In India, it already has a tie-up with Bharat Sanchar Nigam Ltd for a local gateway to offer government satellite communication services.
Through the GX satellites, Inmarsat has already signed up international airlines to offer high-speed internet on passenger aircraft. This could an opportunity even in India, say analysts.
"India is seeing a huge expansion in civil aviation. There is increased air connectivity as newer cities are being connected by air and airlines are adding new fleet," says P S Goel, a former Space scientist who heads the Dr Raja Ramanna chair at the National Institute of Advanced Studies. "There is a business opportunity."
On August 1, US plane maker Boeing forecast that airlines in India could order as many as 2,100 planes worth $ 290 billion in the next 20 years. This is an increase over its forecast in 2016 when it had estimated the airlines would order 1,850 planes.
Besides providing internet access to airline passengers, there is a huge opportunity to provide high-speed internet in remote places as well as on highways, which Inmarsat and other global satellite internet providers are looking to tap.
The biggest one is OneWeb, in which Japanese investor Softbank has invested $1. 2 billion to launch a constellation of 648 satellites that would provide high-speed internet at low costs to users on earth. Sunil Bharti Mittal, founder of Bharti Enterprises, is an early investor in the satellite operator.
These satellites would be launched aboard Blue Origin rockets, the company owned by Amazon CEO Jeff Bezos.
Source:- Business Standard
NEW DELHI: India's growth momentum will get stronger with revival in private investment cycle and real GDP growth is expected to average at about 7.4 per cent over 2017 and 2018, says a Deutsche Bank report.
It also termed as 'faulty' the argument that a 7.5-8 per cent real GDP growth in the next few years will still be lower than what was achieved in the boom period of 2006-2008.
It said the global economy post the 2008 global financial crisis (GFC) has adjusted to a new-normal of low-growth low- inflation environment, and India's growth achievement should therefore be judged taking this structural shift into consideration.
"In the current new normal, an economy which delivers a steady 7.5-8.0 per cent growth in real terms should be comparable to 9-10 per cent growth in the pre-GFC period, in our view," it added.
According to the global financial services major, the country's growth momentum will only get stronger as private investment cycle starts reviving gradually, along with continuation of strong private consumption.
The medium-term outlook for the country looks "exceedingly positive" driven by supportive population dynamics, steadily rising aspirational middle class and a reforms oriented government, it said.
Source:- Economic Times
Like celebrity news, North Korea easily finds space in the papers and portals across the world. This time, those column inches on the country and its supreme leader Kim Jong-un, speak about the deliberations over the country's decision to 'delay' the planned missile attack on Guam - an unincorporated territory held by the US.
Simmering tensions between the US and North Korea have led to many questions around how a clash between the two would result in.
The US isn't alien to the rules of engagement in a war, but for North Korea, sustaining the fourth largest army in the world won't be easy. Especially considering the minimal business ties it keeps amid complete international isolation.
Who is North Korea's friend in need?
The premise of a Free Trade Agreement between countries is good political relations. Simply put, if you're good to me and I'm good to you we can be friends and then we can do business together.
Despite their disagreements in the recent past over nuclear tests, China is North Korea's go-to friend when it comes to business.
According to data analytics firm Statista, North Korea imported 85 percent of its goods worth USD 3.47 billion from China in 2015. In the same year, North Korea exported about 83 percent of goods worth USD 2.83 billion to the manufacturing superpower.The more surprising fact is that India comes right after China as North Korea's second biggest trade partner among all other countries who maintain trade relations with the communist state.
The data obtained by The Observatory of Economic Complexity, a leading data visualisation site for international trade data pegs India ($97.8 m), Pakistan ($43.1 m) and Burkina Faso ($32.8 m) as the top export destinations of North Korea.
Likewise, most imports for the country apart from China come again from India ($108 m) followed by Russia ($78.2 m), Thailand ($73.8 m) and the Philippines ($53.2 m).
If one ignores the numbers, then it is interesting to ascertain what North Korea trades with its major export partners.
Among major products of use, refined petroleum ($186 m), synthetic filament yarn woven fabric ($138 m) and delivery trucks ($108 m) are the top products, North Korea gets from abroad. The country's primary exports include coal briquettes ($952 m) and textiles (non-knit coats & suits).
A report from Confederation of Indian Industries says India's exports to North Korea in 2013 totalled more than US$60 million and these primarily included food and medicine.
On the global front, India has been a critic of North Korea's nuclear tests and has also criticised its ties with Pakistan and its support for the Kashmir conflict.
In May 2017, after new UN sanctions were imposed on North Korea over its increasing number of missile tests, India banned all trade with North Korea excluding only food and medicine items.
Following suite, China - a critic North Korea's nuclear ambitions in the past, banned imports of iron ore, iron, lead and coal from North Korea this month.
Source:- Money Control
15 August 2017 marks the 70th year anniversary since the British withdrew their colonial rule over India, leaving it to be one of the first countries to gain independence. Since then it has become the sixth largest economy in the world and is categorised as one of the major G20 economies. India is seen as a newly industrialised country and was the world’s fastest growing major economy in 2014. With a population of 1.2 billion and the second largest in the world, its economy has a lot to offer and has evolved over the years.
To mark the occasion we have compiled a wide array of facts around the Indian economy pre and post-independence.
1. India’s economy can be considered a paradoxical one. Despite being one of the fastest growing economies in the world, around one-third of the population live below the poverty line.
2. Before the age of European colonization, India accounted for about 25% of the world’s manufactured goods. In the 13th century, India emerged with a great trading capacity and was able to achieve a state of economic dominance within the wider Indian Ocean world. The main manufacture was cotton textiles which were being produced in all parts of the country for both domestic and export trade.
3. The East India Company was formed in Britain to pursue trade within the East Indies and Southeast Asia. Instead, it mainly did most of its trade within the Indian subcontinent and China. Some of the most popular items of trade were tea, silk, cotton, and opium.
4. India is one of the BRIC countries as its economy experienced fast growth in the 2000s and is predicted to surpass many of the world’s largest economies by 2050. It shares this place along with Brazil, Russia, and China.
5. India is well-known as the home of spices and is the world’s largest producer and exporter of spices. It also accounts for half of the trading in spices globally.6. The rupee is the currency of India and it has its amount written in 17 of the Indian languages. It is also the currency of the Maldives, Mauritius, Nepal, Pakistan, Seychelles, and Sri Lanka.
7. The agricultural economy in India during the 1930s was greatly impacted by the Great Depression. It affected some of the most popular export staples ranging from jute, tea, and cotton.
8. In November 2016, Narendara Modi, the current Prime Minster of India announced that all 500 and, 1,00 rupee notes will be demonetised in order to tackle illicit cash handling and illegal activity.
9. India is a major exporter of IT and software services and this sector is considered to be one of the fastest growing within the economy. Its net IT exports grew from virtually nothing in 1990 to around $70 billion two decades later.
10. 58% of the rural households in India depend on agriculture as their main source of income and is one of the largest contributors to India’s Gross Domestic Product (GDP).
Source:- OUP blog
The National Housing Bank (NHB) has joined hands with the French Development Agency (FDA) and the European Union to launch the SUNREF Housing India programme as part of efforts aimed at scaling up green housing projects in India.
SUNREF (Sustainable Use of Natural Resources and Energy Finance) Housing India will provide financing of €112 million to NHB, through a credit line of €100 million with AFD and a grant of €12 million financed by the European Union. The credit facility and grant agreements were signed with the NHB in July 2017.
The three partners on Thursday presented the details of the SUNREF Housing India Programme to housing sector stakeholders in the presence of Alexandra Ziegler, Ambassador of France to India, and Tomasz Kozlowski, Ambassador of the European Union to India.
Speaking on the occasion, Sriram Kalyanaraman, Managing Director & Chief Executive Officer, NHB, said “green housing” is an idea whose time has come. This is not the first time that NHB is availing overseas funds to promote green housing in the country. Five years ago, NHB had tied up with Germany’s KfW for €50-million funding.
Kalyanaraman said NHB would, through the SUNREF programme, provide funding to the green housing sector — home buyer and developers — via banks and housing finance corporations.
The €100-million credit line will be available for a three-year time-period that began from July 2017. NHB hopes to do the disbursal between mid-2018 and 2020.
In the background of the growth of the Indian housing sector where 70 per cent of the dwelling units are to be built from now till 2030, the SUNREF project aims to reduce the negative impact on environment. It seeks to encourage the development of green residential buildings that demonstrate more efficiency in energy, water and building material use.
Source:- Business Line