Consulate General of India

Perth

INDIA
BULLETIN NEWSLETTER
JULY 2017

Indian Economy:

Ram Nath Kovind takes over as President of India India Launches New Economic Era With Sales Tax
Reform

Ram Nath Kovind sworn in as the 14th President of

India in the Central Hall of Parliament. The President
thanked everyone for the enormous responsibility
India introduced its biggest tax reform in the 70 years
bestowed on him. Kovind said, We have achieved a
since independence from British colonial rule. The
lot as a nation, but the effort to do more, to do better
Goods and Services Tax (GST) replaces more than a
and to do faster is relentless. The citizen of this
dozen federal and state levies and unifying a $2 trillion
country are the real source of strength to me. Confident
economy and 1.3 billion people into one of the world's
that people of India will continue to give me the
biggest common markets. "With GST, the dream of 'One
energy to serve the nation.
India, Great India' will come true," Modi said.
Read More:
Read More:
http://indianexpress.com/article/india/ram-nath-kovind-
https://www.voanews.com/a/india-launches-new-
takes-over-as-president-of-india-full-text-of-his-first-
economic-era-with-sales-tax-reform-/3924050.html
speech-4766306/

NEWSLETTER CONSULATE GENERAL OF INDIA, PERTH 1

GST to boost GDP; positive for rating: Moody's
Implementation of the GST will be positive for India's
rating as it will lead to higher GDP growth and
increased tax revenues, Moody's Investors Service
said. GST will contribute to productivity gains and
higher GDP growth by improving the ease of doing
business, unifying the national market and enhancing
India's attractiveness as a foreign investment
destination," Moody's VP (Sovereign Risk Group)
William Foster said.
Read More:
http://economictimes.indiatimes.com/news/economy/in
dicators/gst-to-boost-gdp-positive-for-rating-
moodys/articleshow/59410112.cms
India to grow faster than China in 2017 and 2018: IMF
India will stay ahead of China in growth in 2017 as well
as 2018, said the International Monetary Fund (IMF)
while retaining the country's GDP forecast at 7.2 cent for
the current fiscal. According to IMF's World Economic
Outlook Update, India's growth is projected to accelerate
to 7.7 per cent in 2018-19, from 7.2 per cent forecast for
2017-18.
Read More:
http://www.deccanchronicle.com/business/economy/240
717/india-to-grow-faster-than-chinain-2017-and-2018-
imf.html
NEWSLETTER CONSULATE GENERAL OF INDIA, PERTH
Indian CEOs optimistic about economic growth
outlook: Report
Indian CEOs are confident about the growth prospects
of the country over the next three years, compared to
that of global economy, according to a KPMG report.
Read More:
http://www.hindustantimes.com/business-news/indian-
ceos-optimistic-about-economic-growth-outlook-
report/story-EZr0N7d7zLBZL7Vg50HyfN.html
'India's GDP could rise to about US$ 8 trillion over
next 15 years"
India's GDP could rise to about USD 8 trillion over the
next 15 years if the country registers an economic
growth of 8 per cent annually and come very close to
eliminating abject poverty entirely, NITI Aayog Vice
Chairman Arvind Panagariya has said. He said with that
level of economic growth, living standards and
amenities that are taken for granted in the west will
become accessible to a very large part of the population
in India in the coming 15 years.
Read More:
http://www.ptinews.com/news/8897803__-India-s-GDP-
could-rise-to-about--8-trillion-over-next-15-yrs-$storyes
2
Gujarat most competitive state, finds NCAER study
Gujarat, Delhi, Andhra Pradesh, Haryana, Telangana
and Tamil Nadu are the top six states in India
for business investment potential, finds a new study by
the National Council for Applied Economic Research
(NCAER). The study, which estimates state wise
investment potential, ranks their competitiveness on six
pillars, namely land, labour, infrastructure, economic
climate, political stability and governance,
and business perception.
Read More:
http://www.business-standard.com/article/economy-
policy/gujarat-most-competitive-state-finds-ncaer-study-
117071900033_1.html
NEWSLETTER CONSULATE GENERAL OF INDIA, PERTH
India to be base to economic pole of global growth:
Harvard
India will be the base to the economic pole of global
growth over the coming decade with a 7.7 per cent
growth rate annually, remaining ahead of China,
according to a Harvard University research. India and
Uganda top the list of the fastest growing economies to
2025, at 7.7 per cent annually.
Read More:
http://ptinews.com/news/8861128__India-to-be-base-to-
economic-pole-of-global-growth--Harvard$storyes
India gets good ranks on FSB's reform report card to
G20
The Financial Stability Board (FSB), an international
body for global financial system, today listed India
among countries that are 'compliant or largely
compliant' on implementation of priority area reforms.
Read More:
http://ptinews.com/news/8853319__India-gets-good-
ranks-on-FSB-s-reform-report-card-to-G20$storyes
Investments:
FPIs invest over $25 billion in Indian markets in CY17
Foreign portfolio investors (FPIs) have pumped in over
$25.4 billion into the Indian equity and debt market
segments thus far in calendar year 2017 (CY17), data
with the National Securities Depository Limited (NSDL)
show.
Read More:
http://www.business-standard.com/article/markets/fpis-
invest-over-25-billion-in-indian-markets-in-cy17-
117072600315_1.html
3
Temasek investments in India at $10 billion
The Singapore government-owned investment company
Temasek has touched the $10- billion investment mark
in India, after 12 years of its operations. The investment
company is now sitting on the highest liquidity of $27
billion over the last five years in its $197 billion books, as
it is finding the valuations stretched. We had a record
net global portfolio value of $197 billion at the end of
March. Out of this about $10 billion is invested
in India now, said Promeet Ghosh, managing director
for Indian operations at Temasek.
Read More:
http://www.business-
standard.com/article/companies/temasek-investments-
in-india-at-10-billion-117071500043_1.html
IFC to invest up to US$ 6 billion on energy initiatives
in India
International Finance Corporation (IFC), a member of
the World Bank Group, said that it will invest up to $6
billion in the next five years on various sustainable and
renewable energy programmes in India, of which 20%
will go in building eco-friendly or green homes in the
country, said a top company executive.
Read More:
http://www.livemint.com/Industry/ExNmVhK0mJyMQe
PB8eDuWL/IFC-to-invest-up-to-6-billion-on-energy-
initiatives-in-Indi.html
NEWSLETTER CONSULATE GENERAL OF INDIA, PERTH
Infrastructure:
How metro rail networks are spreading across India
The metro rail network in India is increasing with the
mass rapid transit system emerging as one of the best
solutions for urban transportation. Even as eight metro
rail networks covering a length of 370 km are
operational in the country, over two dozen more projects
are lined up. Out of the two dozen projects, around 15
are lined up with the urban development ministry. The
cities that have lined up their plans include Pune,
Nagpur, Ahmedabad, Chennai, Vijayawada, Kozhikode,
Indore, Bhopal, Patna, Guwahati, Kanpur and Varanasi.
Read More:
http://www.livemint.com/Politics/ylEObaYWxcC7lGO2
E2e4wJ/The-rise-of-metro-rail-network-in-India.html
Commodity:
"India to overtake Japan in steel production in 2 years"
India would overtake the world's second largest steel
producer Japan in the next couple of years and the
country has targeted to produce 300 million ton of steel
by 2025-30, a senior Tata Steel official said. India is
currently producing 90 to 95 million ton of steel per
annum against the world no.2 steel producer Japan,
which produces around 103 million ton.
Read More:
http://www.bmindstoday.com/india-to-overtake-japan-
in-steel-production-in-2-years/
Gems & Jewellery exports rise 11 pc during April-May
India's gems and jewellery exports rose by over 11 per
cent to USD 6.78 billion during the first two months of
the current fiscal, largely driven by demand in major
markets like the US. In April-May last year, the sector's
exports aggregated to USD 6.1 billion, according to the
data from Gems and Jewellery Export Promotion
Council (GJEPC).
Read More:
https://www.ibef.org/news/gems-jewellery-exports-rise-
11-pc-during-aprimay
4
Textile industry size to touch US$ 250 bn in 2 years:
Official
The size of India's textile market is expected to touch
USD 250 billion in the next two years from USD 150
billion now, a senior government official said. We see
tremendous growth potential for the textile industry and
it is expected to touch USD 250 billion in the next two
years from the present USD 150 billion. The domestic
market is (currently) estimated at USD 110 billion and
exports at USD 40 billion," Textile Commissioner Kavita
Gupta said.
Read More:
http://ptinews.com/news/8856001__Textile-industry-
size-to-touch--250-bn-in-2-years--Official$storyes
Automobile:
Tencent in talks to invest $400 million in Ola: report
Chinese internet conglomerate Tencent is in advanced
talks to invest in transport app Ola, said a report in The
Economic Times. The company may invest $400 million
(approximately Rs2,500 crore), if the deal gets completed
successfully. The Tencent investment will help Ola raise
over $800 million in fresh total funding, which will push
Olas valuation to over $4 billion.
Read More:
http://www.livemint.com/Companies/4OxpM1oKpIAlW
wlAw8e5tL/Tencent-in-talks-to-invest-400-million-in-
Ola-report.html
NEWSLETTER CONSULATE GENERAL OF INDIA, PERTH
India tops growth rate among leading car markets
India is the only country among the top seven car
markets to grow at a double-digit rate in the first five
months of 2017. The worlds fifth-largest market for
passenger vehicles (cars, vans and utility vehicles)
expanded by over 11 per cent over the year-ago period.
This came when the top two markets China and the US
saw a declining trend.
Read More:
https://www.ibef.org/news/india-tops-growth-rate-
among-leading-car-markets
Retail:
Walmart to invest Rs 900 crores to open 15 outlets in
Maharashtra
American retail chain Walmart will invest Rs 900 crore
to open 15 outlets catering to wholesalers in
Maharashtra, the state government said. Walmart will
open 15 additional modern wholesale cash and carry
stores in the coming years by investing Rs 900 crore:.
Read More:
http://www.hindustantimes.com/business-
news/walmart-to-invest-rs-900-cr-to-open-15-outlets-in-
maharashtra/story-uMcIyA3vmeNr5sQfuhCELM.html
India considering 100% FDI in multi-brand retail, with
riders
India is considering a proposal to lift a cap on foreign
direct investment (FDI) in local supermarkets, according
to people with the knowledge of the matter. Govt may
allow 100% FDI in multi-brand retail by foreign retailers
like Wal-Mart and Carrefour if they agree to 30% local
sourcing and employ 1,000 people for every $100 million
investment. Indias food and grocery market is the
worlds sixth largest, with retail contributing 70% of
sales.
5
Food is one of the largest segments in Indias retail Google Vice President (India and South-East Asia) Rajan
sector, valued about $600 billion. India attracted $935.74 Anandan said while India has the world's second largest
million FDI in retail trading from April 2000 to Internet userbase, only 32 per cent of the 51 million
December 2016. SMBs in the country have an online presence.

Read More: Read More:

http://www.livemint.com/Politics/JweLgT05WfIOCfGlS
YdOrN/India-is-said-to-consider-backing-foreign-
investment-in-supe.html
Technology:
http://ptinews.com/news/8925606__Google-trained-
over-5-lakh-people-to-digitally-empower-SMBs$storyes
India is a great place for innovation: Microsoft

Microsoft launches 'Made for India' Kaizala app

India is a great place for innovation and there is a lot of

opportunity for Indian firms and start-ups to work with
Microsoft and develop cloud-based tools and platforms
for a global marketplace, according to a senior official of
the software giant.

Read More:
Tech giant Microsoft launched 'Kaizala', a productivity
http://www.livemint.com/Industry/41c0PZE9woGXV5K
app that has been designed to enhance the collaboration
VgqofvN/India-is-a-great-place-for-innovation-
and communication experience for Indian enterprises.
Microsoft.html
The 'Made for India' app is designed for large group
communications and work management, and works
India's Reliance Jio announces 'effectively' free 4G
even on 2G networks.
feature phones

Read More:
http://www.livemint.com/Technology/WtNELoPU18YV
uOlR8MAeKM/Microsoft-launches-Made-for-India-
Kaizala-app.html

Google trained over 5 lakh people to digitally

empower SMBs

Google India said it has trained over 5 lakh individuals

under its 'Digital Unlocked' Programme, which was
launched to digitally empower small and medium
businesses in the country.
India's richest man Mukesh Ambani is aiming with the
introduction of fourth-generation network-enabled
feature phones the segment of lower-end mobile phones
which still dominates the country's handset market.

NEWSLETTER CONSULATE GENERAL OF INDIA, PERTH 6

Customers will be required to pay only a refundable
security deposit of 1,500 rupees ($23.31) for three years.
Read More:
https://asia.nikkei.com/Business/Companies/India-s-
Reliance-Jio-announces-effectively-free-4G-feature-
phones
TCS' iON takes digital learning marketplace abroad
Tata Consultancy Services iON is taking its education
marketplace overseas as it taps schools, colleges and
corporate houses to offer online courses.
TCS has taken iON to Japan and is looking to expand to
Latin America, the UK and Ireland. TCS expects the
iON business to generate $1 billion in revenue.
Read More:
http://www.business-
standard.com/article/companies/tcs-ion-takes-digital-
learning-marketplace-abroad-117072500024_1.html
Mobile data subscriber base to touch 900 million by
2022: CRISIL
Mobile data subscription will cross 900 million users by
2022 in the next five years, with penetration doubling to
80 per cent, according to a CRISIL report. While mobile
data usage doubled to 1.3 GB (gigabytes) per user per
month between 2013 and 2017, it is expected to reach 2.3
GB per user by 2022.
Read More:
http://www.business-standard.com/article/current-
affairs/mobile-data-subscribers-to-touch-900-mn-by-
2022-crisil-117072501661_1.html
NEWSLETTER CONSULATE GENERAL OF INDIA, PERTH
India ranks 23rd among 165 nations in cybersecurity
index
India is ranked a high 23rd out of 165 nations in a global
index that measures the commitment of nations across
the world to cybersecurity.
Rad More:
http://ptinews.com/news/8863283__India-ranks-23rd-
among-165-nations-in-cybersecurity-index$storyes
Defense / Space:
Russia, India Likely To Ink Deal On 48 Mi-17
Choppers Supply This Year: Official
Russia and India are holding negotiations for the supply
of 48 Russian Mi-17 military transport helicopters, with
Moscow hoping to seal the deal by the end of this year, a
top Russian official has said. Russian arms supplier
Rosoboronexport's CEO Alexander Mikheev said India
has more than 300 helicopters belonging to the Mi-8 and
Mi-17 family, which are deployed in troop and arms
transport, fire support, convoy escort, patrol, and
search-and-rescue (SAR) missions. Mi-17V-5, supplied to
India, ranks among the most technically advanced
helicopters of the Mi-8/17 type, incorporating the best
engineering solutions of previous generations.
Read More:
http://www.indiandefensenews.in/2017/07/russia-india-
likely-to-ink-deal-on-48.html
7
India to see launch of two moon missions in early 2018
The country will witness the launch of two lunar
missions from Indian soil early next year: Indian Space
Research Organisation (Isro) will launch its
Chandrayaan-2 mission, an advanced version of its 2018
mission with the objective of deeper lunar surface probe,
and another mission by Team Indus, a group of space
enthusiasts who want to unfurl the tricolour on the
moons surface as part of a global lunar competition.
Read More:
http://economictimes.indiatimes.com/articleshow/598293
03.cms
NEWSLETTER CONSULATE GENERAL OF INDIA, PERTH
Tourism:
Tourism sector saw around 23 pc increase in FEEs in
June
The tourism sector had witnessed an increase of around
23 per cent in foreign exchange earnings (FEEs) in June
2017 over June 2016, the government said. According to
a statement from the tourism ministry, FEEs in June,
2017 amounted to Rs 13,088 crore as compared to Rs
10,677 crore in June, 2016 and Rs 9,564 crore in June,
2015. The foreign tourist arrivals in June, 2017 were 6.70
lakh as compared to 5.47 lakh in June, 2016 and 5.12 lakh
in June, 2015.
Read More:
http://ptinews.com/news/8899532__Tourism-sector-saw-
around-23-pc-increase-in-FEEs-in-June$storyes
Australia eyes over 3 lakh tourists from India in 2017
Australia is expecting to welcome over 300,000 Indian
tourists this year, mainly due to the online visitor visa
applications facility, steady Australian dollar and
various promotion activities. In 2016, over 260 thousand
Indian travelers visited Australia, according to data
given by Tourism Australia.
Read More:
http://economictimes.indiatimes.com/magazines/travel/a
ustralia-eyes-over-3-lakh-tourists-from-india-in-
2017/articleshow/59635383.cms
8
 Education / Research

Indian Council for Cultural Relations (ICCR) Chair India Studies at Murdoch University

Dr. Bibhu Prasad Routray has been appointed as Visiting Professor

and First ICCR Chair India Studies at Murdoch University. ICCR,
in consultation with Indian Missions abroad, has established Chairs of
Indian Studies in various foreign universities. He will be teaching at
Murdoch University: (i) Counterterrorism Policies and Practices, and
(ii) Al Qaeda to Islamic State: Assessing Terror Threats.

Hes a security and policy analyst and Director of Mantraya, a policy

think tank & served as a Deputy Director in India's National Security
Council Secretariat, New Delhi. Prior to his official tenure, he served in
various think tanks in India including the Institute for Conflict
Management (ICM), Guwahati, Assam, which he headed as Director.
He received his doctoral degree from the School of International
Studies, Jawaharlal Nehru University, New Delhi.

NEWSLETTER CONSULATE GENERAL OF INDIA, PERTH 9

 Upcoming Event

For Registration visit: https://www.eventbrite.com.au/e/celebrations-of-71st-independence-day-of-

india-by-consulate-general-of-india-perth-tickets-36479186228

NEWSLETTER CONSULATE GENERAL OF INDIA, PERTH 10

Upcoming Trade Fairs in India

NEWSLETTER CONSULATE GENERAL OF INDIA, PERTH 11