HSBC: India to be a $7 Trillion Economy in 2028

British financial services giant  HSBC said India is likely to overtake Japan and Germany to become the third largest economy in the next 10 years but needs to be consistent in reforms and focus more on the social sector.

Thire brokerage’s estimates show that India will be a $7 trillion economy in 2028, as compared to less than $6 trillion and $5 trillion for Germany and Japan, respectively. Currently, India is at the fifth spot in global rankings with a GDP of about $2.3 trillion (fiscal 17), reports BusinessLine.

Rs. 50 currency notes

Other takeaways from the report:

  • Demographics and macro stability were key strengths for the country
  • India needs to create an ecosystem of continuous change
  • An avenue of job creation can be the social sector
  • India will continue to be a services oriented economy but it needs to pay extra attention on manufacturing and farm sectors as well

“Apart from services, other hallmarks of the India story over the next decade will be higher investment and capital goods flows as its focus on manufacturing increases; Indian consumers forcing foreign brands to turn ‘glocal’; and a two-way human capital footprint that will see many skilled people traveling overseas. It (India) needs to broaden its specialization (beyond just IT in business and cricket in sports) if it wants to run harder and fly higher,” the report added.

September 22, 2017   No Comments

U.S. Invests the Most in India’s Startups

According to New York-based CB Insights, U.S.-based investors are the most active foreign participants in India’s start-up ecosystem over the past five years, making over 800 equity deals during the period.

In the list of top five foreign investors in India’s technology ecosystem, U.K., with 1% of deals stood at 5th place; Japan at 4th with 2% of deals; Hong Kong at 3rd with 3% of deals; Singapore at 2nd with 5% of deals; while the U.S. topped with four times the number of deals than investors from Singapore.

Planning in a startup

Business Standard reports: Of the U.S.-based investors, New York-based Tiger Global has been the most active, backing some of India’s largest start-ups, including Flipkart, Ola, and ShopClues, while also making numerous other investments in smaller companies. Hong Kong-based Saif Partners, has backed firms such as Paytm and Urban Ladder. California’s Accel Partners, which has an India unit, made its largest investment in Flipkart through its overseas unit rather than the local one.

Both Tiger Global and Japan-based Softbank have pumped billions of dollars in India’s startup ecosystem in the past few years.

August 31, 2017   No Comments

Panasonic Announces its First India Innovation Center

Osaka, Japan-based Panasonic will jointly work with India’s Tata Consultancy Services (TCS) at its Center of Excellence – a part of the India Innovation Center  – that it set up at TCS’s campus in Bangalore.

Both companies will drive innovation and create new business opportunities in the Internet of Things technology, Mobility, and Artificial Intelligence ), reports the Economic Times.

“The key focus of this enterprise will be to bring together Panasonic’s research and development efforts under one cohesive umbrella. This will also strengthen India’s position as a critical region for the corporation to lead innovations in the ISAMEA (India, South Asia, Middle East and Africa) market. It will work as a hub that will be central to developing new age technology driven range of products that will emerge from India for both domestic and global consumption,” said Daizo Ito, managing executive officer, and regional head for ISAMEA.

Panasonic Inaugurates India Innovation Center

The platform will bring the best minds from the two countries together to develop transformative solutions on Panasonic’s five key focus areas – Connected/ Community, Mobility, Energy, Industrial and Finance Solutions, said Manish Sharma, president and CEO, Panasonic India and South Asia.

 

May 31, 2017   No Comments

India, Japan Strengthen Defense Cooperation

In a visit to Tokyo, to attend an annual meeting of the Asian Development Bank, India’s Arun Jaitley, who is both the Minister for Finance and Minister for Defense, told his Japanese counterpart, Tomomi Inada that India will pursue a strategic partnership with Japan for regional peace and stability.

Aircraft Carrier

The Washington Post says that a trilateral naval exercise among the U.S., India and Japan has been planned in  July as a way of strengthening cooperation in the Asia-Pacific. “This is all reflective of the level of cooperation our armed forces have with each other,” Jaitley said.

 

May 17, 2017   No Comments

Amazon Launches Fire TV in India

Amazon launched its Fire TV stick in India  with Amazon’s Prime Video India director and country head Nitesh Kripalani and Amazon Fire TV vice president Marc Whitten at the launch. India is the fifth country where the device becomes available after the U.S., U.K., Germany and Japan.

Priced at $62, the Fire Stick stick comes pre-loaded with  Amazon Prime Video and rival platforms, such as Netflix, Fox India’s Star network-owned Hotstar, Viacom18’s Voot and Indian film major Eros International’s ErosNow, among others. Additionally, the device offers access to YouTube, various gaming apps and more, says The Hollywood Reporter.

Amazon Fire TV Stick with Voice Remote

Amazon Fire TV Stick with Voice Remote

Whitten said, “Fire TV Stick also offers data monitoring and other features to help customers in India get the most from their data plan and stream more content using less bandwidth.”

 

 

April 26, 2017   No Comments