KPRD

Not to forget our workaholic, super knowledgeable Lawerence Wong

Indian Economy: Touching the $2 Trillion Target

Indian Economy is set to surpass the $2 Trillion mark in the current year, followed by the 2019 estimate by IMF of $3 Trillion which will make India the 7th largest economy in the world, 3 steps jump from the current standing, surpassing Russia, Brazil & Italy.

The post election recovery of confidence allows the present government to pull up from the sub 5% growth rate during the last 2 years.

Major Boost in Telecom Sector via foreign Investments

As per the recent official statements by the Telecom Industry, India shall witness a major inflow of foreign investments in the Telecom sector; major contributors of them being Facebook, Cisco & HP.

Telecom Minister, Shri Ravi Shankar Prasad said that HP has informed them of having about 40,000 employees in India and their business here is the “biggest beyond USA”, which naturally opens up the appetite for further expansion.

The minister on Thursday also met Japanese delegation, which will soon sign a memorandum of understanding on using solar power for mobile towers. “The meeting was on to strengthen cooperation between India and Japan, particularly in the field of electronics. Also, they are keenly pushing for installation of solar powered generators around BTS (mobile towers). We welcome that and we will be shortly executing an MoU with them,” he said.

The Japanese delegation, however raised concern regarding recent mandatory certification of certain electronics products issued by Bureau of Indian Standards, the minister added.

Relief from I-T Department:

The requirement to update mobile & E-mail ID of every assesse has been temporarily disabled by the Income Tax Department, due to various problem/incidences of late receipt of confirmation PIN.