Just two year after its India entry, Chinese mobile phone manufacturer- Xiomi has achieved Rs 7000 crore sales. Another Chinese firm Huawie has reached Rs 10000 crore and several other smaller Chinese firms are also well performing compared to their achievements back at home. Apple, the leader in the global market is here for a long time and its sale is stagnating at around Rs 10000 crore. Xiomi’s silent but rapid march shows that it has the price attraction and product quality that can win Indian hearts. India is world’s fastest growing mobile phone market and is growing at smart pace. Apple’s problems lie in its products as it has no product to compete in Indi
Government has called a meeting of the top officials of various ministries to look into the demands sought by Apple to start its manufacturing facility in India. the Cupertino based electronic giant has several manufacturing facilities and assembly lines in different countries; but not much production presence in India which is a fast-growing market for iPhones. Senior officials from DIPP (Department of Industrial Policy and Promotion), revenue, environment, forest etc. are scheduled to meet in January to consider various Apple demands including tax concessions and other incentives. Apple is expected to make a market seeking type of manufacturing facility in India as it fears to
Rupee is trading at new lows early morning in the context of strengthening dollar. Besides the news of sooner than expected interest rate hike in the US has also put pressure on rupee. What triggers a potential interest rate stance by the Fed is the rising US inflation. Early morning session on Thursday, the rupee registered 68.74 a dollar, down 0.23% from its previous close of 68.57. It is on the brink of the all-time low of 68.85 to the dollar. The Fed has already indicated its desire to move towards raising its policy rate called the Fed rate. This event is expected soon so as to match the rising inflation rate. At present, the US bond market is witnessing heavy selling
India and Japan signed the much-anticipated civil nuclear cooperation agreement that will fasten India’s nuclear energy projects. The agreement will promote nuclear energy projects in India and is an indication of the country’s ability to support nuclear energy projects despite an outsider of the NSG. "This agreement is a legal framework that India will act responsibly in peaceful uses of nuclear energy and also in Non-Proliferation regime even though India is not a participant or signatory of NPT," Modi said referring to the significance of the agreement for India as the country is not a member of the NSG. Prime Minister Modi and his Japanese counterpart signed the a
Anil Ambani’s Reliance Group is set to gain from the just signed Rafale aircraft deal. Reliance signed a Joint Venture with Dassault Aviation France for providing components for construction of the 36 fighter craft that India is going to purchase from the French Company. The Rs 60000 crore deal has a 50% offset content with Indian firms getting opportunity to supply components. Domestic value addition opportunity for the indian industry is estimated to be Rs 24000 crores out of the deal. Nearly 74 percent of the 50 percent offset value should be exported from India. This means that nearly 40% of the total deal amount or approximately Rs 24000 crores. As per indications, do
The external debt of the country reached $486.6 bn as on March end 2016. According to the verification of the trend by the government on the basis of the Report published by the RBI, the external debt of the country increased by $10.6 bn compared to a year ago. NRI Deposits drives external debt Unlike in the past, debt was driven by NRI deposits. The share of NRI deposits increased to 25.1% though commercial borrowings continue to be the major component of external debt with 37.3% share. According to the data, NRI deposits increased from $115 bn to $127 bn during the year. on the other hand, ECBs increased to $ 181.3 bn from $180.6 bn. A positive development about the debt scena
Finance Ministry has finalized a model agreement between the Centre and states for the effective implementation of bilateral investment protection agreements (BIPAs or BITs) between India and other countries. The model agreement ensures states commitments to protect the interest of foreign investors. BIPA is signed between the central government and other countries for providing protection to foreign investment. Bilateral Investment Promotion and Protection Agreements (BIPAs) are agreements between governments of two Countries for the reciprocal promotion and protection of investments in each other's territories by individuals and companies situated in either State. They provide t
In its effort to check black money’s mobility across borders and to reap more revenues, the government has modified DTAA (Double Taxation Avoidance Agreement with Cyprus on the Mauritius line. Capital gains from share sale will be subjected to source based taxation as per the modification made to the India- Cyprus DTAA. Cyprus is a major tax haven. The change implies that if a foreign investor from Cyprus makes profit through investment in Indian shares, he should pay the capital gains tax in India. Modalities of the modifications were finalized between the officials of the two countries. According to official sources, the agreement will go for Cabinet approval soon. Rewor
Major FDI liberalization drive in food processing, pharma and defence: The government has announced major reform measures by removing existing notable restrictions in critical sectors. These include relaxation in three sectors – the sensitive and high growth food product sector, strategic sector -defense and competitive sector -pharma. Announcing the decision, Prime Minister described that India is the most open economy in the world now. The announcement also helped the government to calm markets that started to react violently to Raghuram Rajan’s exit decision. A remarkable outcome of the new policy is that upto 100% FDI is allowed under defence and civil aviation s
Apple’s visiting CEO, Tim Cook has announced a software development center in Bengaluru as India has emerged as the fastest growing market for the US based company. Through opening of some development facilities in India, Apple expect some policy leverage in its favor from the government for the company’s Indian plans. Cook has reached India after a Chinese visit where the California based company has announced $1bn investment in car hail app firm Didi. Being a high priced brand, Apple is facing a big hurdle in the Indian market because of competition from rookie smart phone manufactures. Already, other players from Korea and China are occupying the smart phone market
Dictionary on Indian Economy
- Logic of withdrawing Rs 1000 and Rs 500 notes
- Raghuram Rajan: The Gladiator returns to Chicago
- Why the GST reform is transformational?
- Good intention but poor thinking - what troubles demonetization?
- India Black Money Report: CBI underestimates black money at Rs 25 lakh crore
- High interest rate rather than inflation is the macroeconomic problem for India right now
- Japan’s first trade deficit in 30 years is part of the Global Shift
- Why we need an emergency monetization plan as well?
- Arvind Subramanian rocks with 'Chakravyuha' in Economic Survey
- NREGS: give respect to the tax payer’s money