FTA giữa Ấn Độ và EU sẽ được ký vào cuối năm nay

India, EU free trade pact by year end

PTI
London, July 26, 2011

India and U.K. on Tuesday expressed commitment to conclude the broadbased India-EU Free Trade Agreement (FTA) by the end of the year.

“Both economies are sharing the gains from increased trade and investment flows. Both sides are fully committed to ensure the conclusion of an ambitious and balanced broad-based EU-India FTA by the end of the year,” said the joint communique issued after a meeting between Finance Minister Pranab Mukherjee and Britain’s Chancellor of Exchequer George Osborne.

The negotiations for a FTA between India and 27-member club has been going on since 2007. United Kingdom is a member of EU.

The joint declaration also called for early conclusion of the development focused Doha round of trade talks.

India and U.K. also reiterated the need for early ratification of the International Monetary Fund (IMF) quote reforms by the member countries.

“It is in both our interest to have a strong, legitimate IMF as an anchor of global economic stability and prosperity,” the communique said.

Both the nations agreed that the global recovery continues to remain fragile and challenges exist in the form of rising food and fuel prices, fiscal imbalances and volatile capital flows.

“We are committed to multilateral co-operation through G20 and international financial institutions. This is more vital than ever before,” it added.

It said that both the countries are working on reducing fiscal imbalances and strengthening the business environment.

“We have agreed to work together in G20, IMF, FSB and other international financial institutions in key areas of strengthening economic surveillance, capital flow management and financial sector reform, to increase the resilience of the global economic and financial system,” the communique added. 

 

Nguồn: The Hindu,

http://www.thehindu.com/business/Economy/article2296389.ece

Ấn Độ là nước thu hút đầu tư trực tiếp nước ngoài (FDI) lớn thứ 14 thế giới vào năm 2010

India slips to 14th spot as FDI destination

 

Sujay Mehdudia
NEW DELHI, July 26, 2011

Indicating a serious crisis developing in foreign investment climate, India slipped to the fourteenth spot from the eighth position in the list of countries that attracted the highest foreign direct investment (FDI) last year.

Inflows into India declined by about $10 billion to $25 billion, according to the "World Investment Report 2011" released by United Nations Conference on Trade and Development (UNCTAD) here. According to the investment report, India ranked way below its competing neighbour China, which saw FDI inflows to the tune of $106 billion in 2010. India was in the eighth place in 2009.

The report said India attracted FDI worth $25 billion last year, much lower than the inflows of $36 billion seen in 2009. The United States saw the maximum $228 billion FDI, Hong Kong at $69 billion was number three, Belgium was the fourth largest FDI inflow destination at $62 billion.

Expressing concern over the continued declining trend in FDI into India, independent economic researcher, Premila Nazareth Satyanand, who released the report here on Tuesday, said the country needs to have a good investment climate. The report said FDI inflows worldwide climbed 5 per cent to about $1.24 trillion last year, compared to 2009. "FDI to South Asia declined to $32 billion, reflecting a 31 per cent slide in inflows to India and a 14 per cent drop in flows to Pakistan. By contrast, inflows to Bangladesh, a rising low-cost production location, increased by nearly 30 per cent to $913 million," the report said.

India saw FDI inflows of $19.42 billion in 2010-11. Presently, the FDI flow into the country is sluggish, especially due to uncertain global economic conditions.

India was also the fifth largest source of funds (FDI outflow) in developing Asia, helped by a string of major acquisitions in countries across the globe between 2007-2011. Among major buyouts that figured in the U.N. report were Tata Steel's acquisition of U.K.-based Corus group worth $11.8 billion and Hindalco Industries's acquisition of U.S. firm Novelis Inc worth $5.8 billion. Tata Motors also acquired U.K.-based Jaguar Cars for $2.3 billion, Essar Steel Holdings bought Canada's Algoma Steel Inc for $1.6 billion and United Spirits acquired Whyte & Mackay of U.K. for $1.17 billion.

Nguồn: The Hindu,
http://www.thehindu.com/business/Economy/article2296145.ece

Lượng kiều hối gửi về Ấn Độ lớn nhất thế giới năm 2010

Indian diaspora tops remittance list

 

Anahita Mukherji & Ashley D'Mello
TNN
Jul 23, 2011

MUMBAI: Just how much do the 27 million global desis, scattered across 190 countries around the world, contribute to the Indian economy? World Bank figures show a dramatic increase of almost 162% in the remittance that India receives from overseas Indians over the last eight years. While India received nearly $21 billion from overseas Indians in 2003, the figure jumped to $55 billion in 2010.

"India received the highest remittance in 2010 compared with any other country in the world," said Dr Alwyn Didar Singh, secretary, ministry of overseas affairs during a discussion on the Indian diaspora organised by the global think tank Gateway House. World Bank data also points to the fact that India receives the highest remittance, followed by China ($51 billion) and Mexico ($22.6 billion), Philippines ($21.3 billion) and France ($15.9 billion).

Though there was a slight dip in remittance from 2008 to 2009, it bounced back in 2010 to a level higher than in 2008. Kerala and Punjab are currently among the states which receive the highest remittance from overseas residents. Didar Singh believes the increase in remittances has much to do with a great degree of faith in the Indian banking system, coupled with a lack of faith in US banks. "Remittance may be in a number of forms, such as domestic consumption, property, health and education. This is real money that is very much a part of the local economy, and is not money that is simply parked in a bank," he adds.

According to S Parasuraman, director of the Tata Institute of Social Sciences, money is increasingly being remitted to India from educated Indians who have temporarily moved out of the country for work. "Those who earlier left the country for the US often settled down there for good and did not send money back home," said Parasuraman. "Earlier, the money coming back to India was largely from poor people who migrated to Gulf countries, and sent a large portion of their income back home," he added.

He says there is a great need to protect the rights of these migrants and introduce schemes to support them when they return home. It isn't just the money that's returning to India. India also has the highest number of returning migrants, says Didar Singh. While six to eight lakh Indians leave the country each year, a significant number of overseas Indians (over one lakh) return to the country yearly.

Adil Zainulbhai, McKinsey's managing director, India, is one such return migrant. He was part of the Indian diaspora in the US for 24 years before returning in 2004. "If you're one of those people who gets irritated with little things, don't come back to India. You can't take a walk on the streets without watching your step or you could fall, and then there's a great deal of pollution all around you. It's awful if you let this gets the better of you. But one reason for staying on in the country despite these irritants is the larger goal, that of building the Indian economy and the excitement of being present at the creation," he said speaking at the Gateway House forum.

Source: The Times of India,
http://timesofindia.indiatimes.com/india/Indian-diaspora-tops-remittance-list/articleshow/9329267.cms