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Competition Commission orders probe against Intel Corp Telecom

Fair trade regulator CCI has ordered an investigation against global chip maker Intel Corporation for allegedly abusing its dominant position in Indian market by restricting the production of servers. The direction comes following a complaint by Bangalore-based Velankani Electronics, engaged in the business of design and manufacture of electronic products in India.  Intel is a leading technology company engaged in the designing, manufacturing and distribution of a wide range of IT components as well as electronic devices relating to communications and computing such as processors, chipsets, mother-board/server-board among others. It was alleged that Intel refused to provide complete reference design files to Velankani Electronics and by doing this Intel has successfully prevented and precluded the Bangalore-based from designing/manufacturing its own server-boards. 

(ET, Nov 12, 2018)


Singtel sees telecom sector inching towards stability Telecom

Telecommunications, a major shareholder in Bharti AirtelNSE 0.00 %, sees initial green shoots and some stability returning to the Indian telecom industry. “Total telecom industry revenue in India as a whole, for the first time since the entry of Reliance Jio, has been growing by a bit, so there is some stability,” Arthur Lang, CEO (International), Singtel said at an earnings call . The leading Southeast Asian carrier, which owns a shade over 39% in Bharti Airtel, had reported a 77% year-on-year fall in net profit during the July-September period to S$667 million.  India's telecom industry’s adjusted gross revenue (AGR) had grown by 2.4% sequentially during the April-June quarter of 2018-19. Airtel’s consolidated revenue in the September quarter, which fell 6.2% on-year to Rs 20,422 crore, was actually higher than the Rs 20,080 crore reported in the first quarter. Revenue from India operations, which makes up nearly 68% of the total, also fell only 1% sequentially in the second quarter to Rs 14,920 crore. 

(ET, Nov 10, 2018)


India iPhone sales to fall for first time in four years: Report Telecom

Apple's iPhone sales are set to dip by around a quarter in India's holiday season fourth quarter, putting them on course for the first full-year fall in four years, industry research firm Counterpoint said on Saturday. The Cupertino, California company's struggle to break through with India's 1.3 billion consumers swung more sharply into focus this week after Apple blamed a disappointing set of sales forecasts on a handful of big emerging markets. Chief Executive Tim Cook said after publishing third quarter results that sales were flat in India in the fourth quarter, which includes a month-long festive season culminating this week in Diwali - a bumper period for electronics sales.

(ET, No 04, 2018)


E-commerce players following predatory pricing, says mobile industry group Telecom

Mobile devices industry body ICEA said Thursday that e-commerce companies accounted for 45-50 per cent of handset sales last month allegedly due to predatory pricing.  "In US, the e-commerce sale of mobile phones is probably 2 per cent. In India this month it has hit 45-50 per cent because pricing is extremely predatory. E-commerce are doing something which they are not supposed to do. That is a big challenge," India Cellular and Electronics Association (ICEA) Chairman Pankaj Mohindroo  told reporters while releasing a joint report with McKinsey.  He said that e-commerce is growing very rapidly but if it is at the cost offline retail industry.  "45 thousand retails stores have closed down in the last one year which has created a mayhem. We did a little dipstick in area of Noida. 1,148 stores were there and now there are 950 stores. If you extrapolate this is the kind of stress," Mohindroo said. 

(ET, Nov 01, 2018)


JBL PartyBox 300, PartyBox 200 premium speakers launched in India IT

Samsung Electronics Co. and HARMAN International on Tuesday launched JBL PartyBox 200 and the JBL PartyBox 300 speakers for music enthusiasts in India. The JBL PartyBox 200 costs Rs 32,499 while the JBL PartyBox 300 is available for Rs 35,999 on www.JBL.com and retail channels, including 350 Samsung brand stores, the company said in a statement. The rechargeable battery on the PartyBox 300 can provide up to 18 hours of playtime. It can be powered up by plugging in to a 12V DC source or using the built-in 10,000mAh battery. “For even larger sound, connect two speakers to create an amplified listening experience. PartyBox has a USB input, allowing anyone to connect their playlist directly via a USB drive,” the company said.  Get live Stock Prices from BSE and NSE and latest NAV, portfolio of Mutual Funds, calculate your tax by Income Tax Calculator, know market’s Top Gainers, Top Losers & Best Equity Funds. Like us on Facebook and follow us on Twitter.

(FE, Nov 13, 2018)


Intel to set up a tech development centre in Hyderabad IT

Tech giant Intel is setting up a technology development centre in Hyderabad.  A delegation led by Intel India chief Nivruti Roy met Telangana IT and Industries minister KT Rama Rao on Friday to convey the decision on setting up the centre in Hyderabad. The proposed centre is expected to create 1,500 jobs initially, which could go up to 5,000 over the next few years. In the meeting, Intel delegation and the Minister discussed about the Industrial policy of Telangana and the infrastructure available in the state "We are very happy that Intel decided to start a tech centre in Hyderabad", Rao said. The Intel India team has also explored opportunities for electronics and semiconductor manufacturing and the ecosystem's capabilities under the 'Make in India' programme. Rao may meet Intel's global leadership team to invite them to set up a manufacturing facility in Hyderabad, the release said.

(ET, Nov 10, 2018)


Bharat going digital for payments IT

More Indians from smaller towns and cities are paying digitally for goods and services, raising expectations of sustained growth for non-cash payments, even as Reserve Bank data indicates the sharp spike in transactions following the 2016 note ban has evened out this year. Payments company executives estimate that card transactions in towns with populations of up to 1 million have doubled in the two years since demonetisation. “Across cities like Udaipur, Aligarh and Hubli, merchants are open to adopting QR code for payments and they are platform-agnostic,” said Amrish Rau, CEO of PayU India. “This was never the case in my two decades of experience in the payments industry.” Immediately after demonetisation was announced on November 8, 2016, there was a spurt in digital payments.

(ET, Nov 09, 2018)


Samsung exhibits 5G Tech for Smart Agriculture in India IT

The South Korean multinational electronics company, Samsung Electronics on 30 October exhibited how its solutions can enable a range of 5G-powered business models and scenarios for smart agriculture, home broadband services as well as smart cities in India. It said that smart agriculture will be a key focus area when 5G services will be rolled out in India. The 5G use cases for smart agriculture will basically revolve around the sensors and devices on the field that can give information on nutrients, soil moisture, spoilage and other aspects of farming. Director, Networks for Samsung Electronics, Claudia Park said, "Making the world a better place for humans is our focus. We want to make people's life more efficient.” She mentioned that with multiple use cases across different fields, 5G is the new frontier.

(Krishijagran.com, Nov 01, 2018)


Hyderabad stares at e-waste scare General

The city stares at a major disaster as most of the 32 lakh metric tonnes of e-waste that it generates annually is not being disposed of properly. The civic body too is not equipped  to handle it. While industries contribute 70 per cent of e-waste, households contribute almost 15 per cent and the rest comes from discarded or ‘end of life’ electrical and electronic equipment.   The GHMC has not even held discussions to dispose of e-waste which will be a major contributor to garbage with the rapidly increasing use of technology. Indicating the seriousness of the situation, a Delhi-based company collected a metric tonne of e-waste in seven days. The waste was collected by Cerebra Green through its ‘India Clean-up Week’ conducted in association with Manufacturers Association of Information and Technology (MAIT), the ministry of electronics and information technology (MeitY), the ministry of environment, forests and climate change (MOEFCC) and Digital India. It recovered 11 metric tonnes of e-waste across seven cities, including one metric tonne in Hyderabad in seven days.

(Deccan Chronicle, Nov 13, 2018)


We intend to make India hub for exports to South Asia, West Asia, Africa: Manish Sharma, President & CEO, Panasonic India and South Asia General

Japanese consumer electronics major Panasonic has invested Rs 450 crore in expanding its manufacturing facilities in India in the last three years under the ‘Make in India’ programme and intends to make the country an export hub for South Asia, West Asia and Africa. The company’s president & CEO for India and South Asia Manish Sharma in an interview with FE’s Rishi Ranjan Kala said the focus in India is on reaching more small towns with the company working on expanding its exclusive stores to 300 by 2018-end Over the last three years our manufacturing focus has seen a significant strategic uptake with investments of Rs 450 crore. This change has been brought about by the positive policy ecosystem in the country, which is now significantly focusing on domestic manufacturing and the global corporation’s strategic intent on establishing India as an export hub for its ISAMEA (India, South Asia, Middle East and Africa) region. In April this year, we started manufacturing refrigerators at our Technopark facility in Jhajjar, and now 95% of all our consumer products are locally manufactured. Further, we are looking at expanding our manufacturing focus towards B2B segment as well, wherein we will start producing security cameras and video door phones.

(FE, Nov 10, 2018)


Data bill stays, not anti-trade: Govt General

Undeterred by lobbying against mandatory data localisation for all global companies operating in India, the Ministry of Information Technology (IT) and Electronics plans to go ahead with the norms as announced in the draft version of the Data Protection Bill.The Centre reiterated its stand following a report that the US digital industry's lobbying body, Internet Association (IA), is trying to influence the US trade representative to classify the data law as an anti-trade barrier.Official sources also said that it is incorrect for a US business lobby to look at the proposed law in this manner. The purpose of the new law is to make Internet transactions more robust and transparent. As the volume of such transactions increases in India, it will be important to prevent fraud and secure the privacy of user data.

(DNA, Nov 04, 2018)


US withdraws duty benefits on Indian exports worth $75 million General

Indian exports of certain musical instruments, leather, textiles, dairy, chemicals and processed fruits and vegetables to the US will no longer enjoy duty-free access, with the Trump administration withdrawing such concessions effective November 1. The annual exports of these items to the US is estimated at about $75 million.  “…in 2017 certain beneficiary developing countries exported eligible articles in quantities exceeding the applicable competitive-need limitations. I hereby terminate the duty-free treatment for such articles from such beneficiary developing countries,” US President Donald Trump said in a presidential directive dated October 30.  Other countries that have had duty concessions withdrawn by the US include Thailand, Argentina, Pakistan, Turkey, the Philippines, Brazil, Suriname, Belize, Ecuador, Falkland Islands, Kazakhstan, Egypt and Bosnia and Herzegovina.

(ET, Nov 02, 2018)


India postpones levying retaliatory tariffs on US goods to December 17 General

India has deferred imposing higher duties worth $235 million on 29 American goods to December 17. The retaliatory tariffs were scheduled to come into effect November 2 and have been postponed for the third time.  “…the central government, being satisfied that it is necessary in the public interest so to do,” the government said in a notification on Thursday.  In June, India decided to impose higher tariffs on these American imports from August 4, in retaliation to the March 9 decision of US President Donald Trump to impose heavy tariffs on imported steel and aluminum items.  The government later delayed the levies to September 18 and then again until November 2.  With the new tariffs, the import duty on walnut would be hiked to 120% from 30% while that on chickpeas, Bengal gram (chana) and masur dal would become 70% from 30% now. Similarly, the levy on lentils will be hiked to 40% from 30%.  

(ET, Nov 01, 2018)


Startup Policy Rundown: National Electronics Policy 2018, PM Modi’s GeM Push And More Policy

Reflecting the series of policy reforms taken by the Indian government as well as various state governments’, India has jumped 23 positions in the World Bank’s Ease of Doing Business report 2019, reaching 77th position from its rank of 100 in 2017, among the 190 countries assessed by the World Bank. “With 13 reforms between them, China and India — two of the world’s largest economies — are among the 10 top improvers,” the World Bank had said in its report. The policy initiatives do reflect in the Global Competitiveness Index 4.0 2018 Rankings as well, where India is currently ranked at 58th, up 5 positions from last year. In its annual report, the World Economic Forum observed, “India has demonstrated sizeable improvements over the past year. Compared with the 2017 back cast edition, India is up five places, the largest gain by any of the G20 economies.”

(Inc42, Nov 08, 2018)


Indian electronics users more ambitious now, influx of demand from tier II, III cities’ says Arnold Su General

One of the largest markets globally, the electronics industry in India is expected to grow at a CAGR of 24.4 per cent between 2012 and 2020. In the next four years alone, the market in India is expected to reach $400 bn. Tapping into this huge market, ASUS India PC & ROG Head, Arnold Su, in a conversation with Indian Retailer, shares how the ecommerce marketplace is helping electronics market, why ASUS is becoming popular in tier II and tier III cities and what’s their go-to expansion strategies.

(ASUS India, Sep 26, 2018)


Polysilicon for Electronics Market Key Players, Industry Overview, Supply and Consumption Demand Analysis to 2022 General

Polysilicon for Electronics Market report consists of market overview and dynamics, strategic company developments, historic and forecast revenue by product phase, major key organizations, and international alternate angle. The report examines micro and macro-monetary factors governing the general growth of the Polysilicon for Electronics market and makes projections of the general market by the give up of the forecast period.The report comprises market key vendor’s discussion based on the company’s summary, Profiles, financial analysis, market revenue, and opportunities by top geographical regions. The report covers the present scenario and the growth prospects of the global Polysilicon for Electronics market for 2017-2022. To calculate the market size, the report includes the major application segments and their share in the global Polysilicon for Electronics market.

(Chronicle India, Sep 22, 2018)


Villagers not logging on to digital India: Gujarat National Law University IT

It seems rural Gujarat is yet to understand the vision of the central government that is trying to make transactions digital. A study sponsored by the Gujarat government on understanding digital financial literacy in the state, a team of experts from Gujarat National Law University (GNLU) found that even when the government has been aggressive in pushing for the Indian economy to be cashless, the ground reality is stark difference. The study 'Digital Financial Literacy through Digital India: Study of its impact in the rural areas of three districts of Gujarat' conducted by professors Garima Goswami and Anu Mishra have found that there has not been any significant change in the mode of transaction. Even today, the majority of the transactions are conducted through offline mode and therefore there is a huge gap in what the government is aiming at and what the ground reality is.

(DNA, Sep 22, 2018)


Government eyes USD 240-billion electronics industry in Andhra Pradesh IT

Minister for IT, Electronics and Communication Nara Lokesh has said the State government aims to have electronic manufacturing industry worth $240 billion in Andhra Pradesh. He said the State government was taking steps for achieving the target by creating a robust ecosystem to invest in AP. Lokesh, on the first day of his six-day visit to China on Sunday, interacted with China Telugu Association members in Beijing, and pitched AP as the potential investment destination. “According to the projections, India will be a $480 billion market for electronic goods in the coming years. Our target is to manufacture at least half of the electronic products sold in India,” the minister observed. He also appealed to the Telugu diaspora to promote Andhra Pradesh as an investment destination to the companies they are working in. “You are the brand ambassadors of our State,” he said.

(Indian Express, Sep 17, 2018)


India, resource-rich Kazakhstan to put in place IT partnership IT

India and Central Asias biggest country Kazakhstan are hoping to launch an initiative this week to put in place a mechanism for Information Technology partnership.  Deputy Prime Minister of the Republic of Kazakhstan Askar Zhumagaliyev will arrive to India with an official visit, from September 20 to 21. 

During the visit, Askar Zhumagaliyev will hold a meeting with Minister of Electronics & Information Technology of India Ravi Shankar Prasad, management of leading state-owned and private IT companies and visit a number of technological facilities of India in Delhi and Bangalore. The two sides will discuss the possibility of further strengthening bilateral relations in the field of information technologies. 

(ET, Sep 17, 2018)


Xiaomi takes retail FDI to next stage in India, sets up company-owned retail store Telecom

Chinese smartphone major Xiaomi on Wednesday opened its first company-owned brick-and-mortar Mi Home store in India taking its retail foreign direct investment (FDI) plans to the next stage after started selling directly to consumers from its own app and e-commerce site, mi.com. The store opened shutters in Bengaluru, Xiaomi India magaing director Manu Kumar Jain tweeted on Wednesday. “Mi Fans can experience vast array of products that we offer globally – smartphones, Mi TVs, Mi Projector, Mi Robot Vacuum Cleaner, Mi Washing Machine, Mi Heater, Mi Bike, Mi Scooter, Mi Ninebot & a lot more. This is a COCO (Co. Owned Co. Operated) store. This is an opportunity to take your valuable feedback about the next cool #Xiaomi product to launch in India,” he tweeted. 

(ET, Sep 26, 2018)


Import of mobile phones fell by half in fiscal 2017-18: Foxconn chief Telecom

India currently produces 225 million phones valued at Rs 1,32,000 crore a year, which amounts to 12 phones a second, said Josh Foulger, Country Head & Managing Director, Foxconn International Holding, India. Addressing the Advantage India Summit organised by the Confederation of Indian Industry (CII) in association with Messe Munchen GmbH, Foulger said: “India today is the second largest producer of mobile phones, a distant second to China, which produces 900 million phones a year.” Elaborating on the growth of the mobile sector in India, Foulger said in financial year 2017-18 the country’s mobile phone imports reduced by more than half and the import of completely-built-units came down from 78 per cent to 18 per cent.

(BS, Sep 26, 2018)


Samsung India bets big on system air-conditioner business General

Electronics major Samsung India is expecting further growth in the system AC HVAC (heating, ventilation and air-conditioning) business over the next two-three years, director (system AC) of the company Vipin Agrawal said here Friday. The company has several products under the portfolio, including air-conditioners equipped with wind-free technology, largest capacity VRF (variable refrigerant flow) outdoor unit with 30HP, 14HP side-discharge VRF outdoor unit and slim 1-way cassette. "The market size for these products is about $200 million. We are the fastest growing brands in the industry," Agrawal told reporters. To a query, he said, "The company is growing three to four times more than the industry. The industry is growing at about 10-15 percent".

(PTI, Sep 21, 2018)


How India can become the manufacturing capital of the world General

Over the last two decades, China has been the hardware base of the world, while India has been the software base. With the new Samsung factory coming in, will India turn the tide and become the world’s hardware capital?  The South Korean giant’s mobile phone factory at Noida will be the largest in the world, and close to 30% of the handsets made there will be exported. What does this signify for India? Can India overtake China in manufacturing supremacy? What should the government do to maintain the momentum? The coming of the Samsung factory might do to electronics manufacturing what Maruti did to the auto industry in the 1990s. When Maruti came in collaboration with Suzuki, the industry suddenly saw disruption. Suzuki brought scientific manufacturing techniques. And, the auto manufacturing industry here went on an upward trajectory. 

(ET, Sep 22, 2018)


Foreign companies approach government to ask for a say in Ecommerce Policy Policy

Foreign companies left out of the deliberations in the initial round of the e-commerce policy have approached the government to be consulted by the committee of secretaries. During the initial discussions on the draft e-commerce policy released in July, the government had invited e-commerce and internet companies with Indian-led promoters to be part of the task force that deliberated on the draft policy, leaving the foreign companies upset. This time, Industries bodies like US-India Strategic Partnership Forum (USISPF) have sent formal representations to the ministry of commerce and industry to be included in the drafting of the e-commerce bill.

(The Indian Wire, Sep 22, 2018)


TVs get a 'Make in India' twist, start local production at component stage General

Make in India just got a shot in the arm from electronics manufacturing. In the past few weeks, brands such as Xiaomi, TCL, Skyworth, BPL and Thomson — which until recently were importing televisions for sale in the country — have started local production at the component stage, three senior industry executives said.  Even top brands like Sony and LG are now expanding production of televisions in India at the parts stage — as opposed to just assembling imported modules — after the government changed the duty structure earlier this year to make local manufacturing cheaper by 5-7%. The shift includes premium OLED and 4K models that cost a few lakh rupees. The companies are now locally assembling the TV panel itself as well as manufacturing printed circuit boards (PCB) and moulds. 

(ET, Sep 10, 2018)


Xiaomi scales up ‘Make in India Telecom

Chinese smartphone manufacturer Xiaomi has scaled up manufacturing in India over the last three years. Now it has the capacity to roll out two phones every second, said Raghu Reddy, Head, Category and Online Sales, Xiaomi India. From one factory in 2015, the company has six located across Tamil Nadu, Andhra Pradesh and Uttar Pradesh, he told newspersons at the launch of three new smart phones — Redmi 6, Redmi 6A and Redmi 6 Pro. “This year, we have started making printed circuit boards that account for 50 per cent of the value of the phone. About 50 per cent of the phones that we are shipping come with locally manufactured PCB. We want to be in a place by the end of the year, where 100 per cent of phones that we are shipping out of the country have locally manufactured PCBs,” he said. Xiaomi India is also customising phones for India. This is not about software tweaks but about the phone itself. For instance, the new phones launched today have dual pyrolytic graphite sheets to dissipate heat faster. The sheets help reduce the surface temperature by two degrees. When the ambient temperature is 40-45 degrees, two degrees can hurt the user while speaking. The sheets also increase battery efficiency and battery life, he said.

(BusinessLine, Sep 07, 2018)


Xiaomi Bows to India Security Concerns Telecom

Xiaomi Corpis now storing data generated in India on local servers, after the nation’s government indicated that concerns about security breaches may lead to rules mandating domestic data storage for overseas smartphone firms. Since July 1, all new Indian user data have been stored on local servers provided by Amazon.com Inc. and Microsoft Corp., while all existing data will be fully migrated to local servers by mid-September, the world’s fourth-largest smartphone-maker said on its corporate blog Monday, posting a statement dated Friday. Xiaomi said it had previously been storing user data on Amazon.com servers in the U.S. and Singapore.

(Caixin, Sep 03, 2018)


Imported electronics may get dearer IT

The consumer electronics industry fears the government’s move to restrict non-essential imports might lead to increase in custom duties on premium televisions and appliances, which would increase prices.  Senior industry executives said products such as side-by-side refrigerators, large front-load washing machines, microwave ovens, dish washers, cloth dryers, appliances in built-in kitchens, premium air-conditioners and large screen televisions are mostly imported, and likely to be taxed.

(ET, Sep 17, 2018)


Government eyes USD 240-billion electronics industry in Andhra Pradesh IT

Minister for IT, Electronics and Communication Nara Lokesh has said the State government aims to have electronic manufacturing industry worth $240 billion in Andhra Pradesh. He said the State government was taking steps for achieving the target by creating a robust ecosystem to invest in AP. Lokesh, on the first day of his six-day visit to China on Sunday, interacted with China Telugu Association members in Beijing, and pitched AP as the potential investment destination. “According to the projections, India will be a $480 billion market for electronic goods in the coming years. Our target is to manufacture at least half of the electronic products sold in India,” the minister observed.

(Indian Express, Sep 17, 2018)


Centre Of Software Technology Park Of India To Be Set Up In Haryana IT

The government of Haryana informs that decks have been cleared for the setting up of a centre of Software Technology Park of India (STPI) in Panchkula with the Haryana Government deciding to transfer land measuring  8049.71 square meters to STPI, Noida for the specific purpose of setting up of STPI of STPI centre at Panchkula. The land would be given free of cost/leasehold basis for 99 years at the rate of Re. one per year.  A Memorandum of Understanding (MOU) will also be signed between HARTRON and STPI, Noida for this purpose. A decision to this effect was taken in the meeting of State Cabinet held under the Chairmanship of Chief Minister, Mr Manohar Lal here today. Panchkula has potential to attract IT due to proximity of Technical Institutions and Universities, the presence of software firms in Tricity, Chandigarh being made a smart city, good law and order scenario, healthy climate and high accessibility due to the proximity of the international airport, national highway and railways passing through Panchkula. 

(ProjectNewsin, Sep 05, 2018)


Electronics mfg in India to touch $104 billion IT

The India’s electronic product industry is one of the largest in the world and is expected to reach a turnover of $400 billion in 2022. Total production of electronics hardware goods in India is estimated to reach $104 billion by 2020, says Sameer Saxena, Director (Marketing)- Legrand (Group) India.  Legrand is a global specialist in electrical and digital building infrastructure. In India, it has been a leader in the protection business for over two decades, and leverage global knowledge to customize offerings locally, delivering end-to-end solutions across categories and sectors, from residential and commercial, to hospitality and industrial. Legrand has progressively developed product ranges for wiring devices, home automation, door entry, lighting management systems, cable management and structured cabling to add to their core offerings of circuit breakers and distribution boards. “The acquisition of established companies like Numeric and Valrack further strengthened Legrand’s promise of complete solutions, and makes them a preferred partner across segments,” Sameer Saxena, Director (Marketing) - Legrand (Group) India, tells Jayarama Emani

(Hans India, Sep 03, 2018)


FY 19 growth to be slower than expected; here’s why General

With bond yields spiking and the rupee losing more value every day, India’s macroeconomics is fast deteriorating. The timing is really unfortunate because there are signs of an incipient recovery in the economy; consumption, for instance, has been in fairly good nick. But with loan rates having moved up by 15-20 basis points over the past month—State Bank of India’s marginal cost of funds-based lending rate (MCLR) is now a not-so-low 8.45%—it is hard to see how companies are going to be convinced to borrow much more. Indeed, with much of the government’s borrowings scheduled for the second half of the year, rates are going to rise faster than one could have imagined even three months back. The average yield on corporate bond—across maturities—rose to a near two-and-half-year high of 9.1% in August. Had banks been armed with a little more capital, and had there been less fear of further delinquencies, they might have been willing to keep loan rates a little lower. But liquidity isn’t as abundant as it should be, going by how the corporate bond markets actually saw negative net issuances in the June quarter, while net flows into equity mutual fund schemes have now decelerated for nearly nine months in a row. The rate of growth of bank deposits has averaged 8% y-o-y in FY19 so far, and there is not much of a base effect since, in no fortnight after August, 2017, has the growth been in double digits.

(FE, Sep 10, 2018)


Centre sets up panel of secretaries into look e-commerce issues General

With concerns being raised on some proposals of the draft e-commerce policy, the government has set up a group of secretaries to look into the issues, according to an official. The group will be chaired by the secretary in the department of industrial policy and promotion (DIPP).  The other members of the group include secretaries of the ministry of electronics and information technology and department of commerce Representatives of Niti Aayog and department of economic affairs are also members of the group.  "The group would look into all the issues of e-commerce sector," the official said. The first meeting of the group is likely to be held this week. 

(ET, Sep 09, 2018)


India overtakes China to become the world’s fastest growing economy in Q1 2018 General

While the International Monetary Fund may have revised its estimates for India’s growth this year, the Central Statistics Office (CSO) announced that the Indian economy grew by 8.2% between the months of April to June. This puts India at the helm as the world’s fasting growing economy beating China’s top spot., which witnessed a growth of 6.7%.  The Finance Minister tweeted that the reforms put in place by government as well as the fiscal prudence shown by the regulators that are allowing the economy to grow even in the midst of global turmoil. That being said, overtaking China might have a lot to do with the ongoing trade war between the Asian nation and the United States.

(Business Insider India, Sep 03, 2018)