Consulate General of Perth

INDIA BULLETIN NEWSLETTER

JULY 2017

Indian Economy:

Ram Nath Kovind takes over as 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/

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GST to boost GDP; positive for rating: Moody's Indian CEOs optimistic about economic growth outlook: Report

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 Indian CEOs are confident about the growth prospects higher GDP growth by improving the ease of doing of the country over the next three years, compared to business, unifying the national market and enhancing that of global economy, according to a KPMG report. India's attractiveness as a foreign investment destination," Moody's VP (Sovereign Risk Group) Read More: William Foster said. http://www.hindustantimes.com/business-news/indian- ceos-optimistic-about-economic-growth-outlook- Read More: report/story-EZr0N7d7zLBZL7Vg50HyfN.html http://economictimes.indiatimes.com/news/economy/in dicators/gst-to-boost-gdp-positive-for-rating- moodys/articleshow/59410112.cms 'India's GDP could rise to about US$ 8 trillion over next 15 years"

India to grow faster than China in 2017 and 2018: IMF India's GDP could rise to about USD 8 trillion over the next 15 years if the country registers an economic India will stay ahead of China in growth in 2017 as well growth of 8 per cent annually and come very close to as 2018, said the International Monetary Fund (IMF) eliminating abject poverty entirely, NITI Aayog Vice while retaining the country's GDP forecast at 7.2 cent for Chairman Arvind Panagariya has said. He said with that the current fiscal. According to IMF's World Economic level of economic growth, living standards and Outlook Update, India's growth is projected to accelerate amenities that are taken for granted in the west will to 7.7 per cent in 2018-19, from 7.2 per cent forecast for become accessible to a very large part of the population 2017-18. in India in the coming 15 years.

Read More: Read More: http://www.deccanchronicle.com/business/economy/240 http://www.ptinews.com/news/8897803__-India-s-GDP- 717/india-to-grow-faster-than-chinain-2017-and-2018- could-rise-to-about--8-trillion-over-next-15-yrs-$storyes imf.html

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Gujarat most competitive state, finds NCAER study 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

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

Gujarat, , 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 Foreign portfolio investors (FPIs) have pumped in over climate, political stability and governance, $25.4 billion into the Indian equity and debt market and business perception. segments thus far in calendar year 2017 (CY17), data with the National Securities Depository Limited (NSDL) Read More: show. http://www.business-standard.com/article/economy- policy/gujarat-most-competitive-state-finds-ncaer-study- Read More: 117071900033_1.html http://www.business-standard.com/article/markets/fpis- invest-over-25-billion-in-indian-markets-in-cy17- 117072600315_1.html

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Temasek investments in India at $10 billion Infrastructure:

The government-owned investment company How metro rail networks are spreading across India Temasek has touched the $10- billion investment mark in India, after 12 years of its operations. The investment The metro rail network in India is increasing with the company is now sitting on the highest liquidity of $27 mass rapid transit system emerging as one of the best billion over the last five years in its $197 billion books, as solutions for urban transportation. Even as eight metro it is finding the valuations stretched. “We had a record rail networks covering a length of 370 km are net global portfolio value of $197 billion at the end of operational in the country, over two dozen more projects March. Out of this about $10 billion is invested are lined up. Out of the two dozen projects, around 15 in India now,” said Promeet Ghosh, managing director are lined up with the urban development ministry. The for Indian operations at Temasek. cities that have lined up their plans include Pune, , Ahmedabad, Chennai, Vijayawada, Kozhikode, Read More: Indore, Bhopal, Patna, Guwahati, Kanpur and Varanasi. http://www.business- standard.com/article/companies/temasek-investments- Read More: in-india-at-10-billion-117071500043_1.html http://www.livemint.com/Politics/ylEObaYWxcC7lGO2 E2e4wJ/The-rise-of-metro-rail-network-in-India.html

IFC to invest up to US$ 6 billion on energy initiatives Commodity: in India "India to overtake 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 International Finance Corporation (IFC), a member of the World Bank Group, said that it will invest up to $6 India's gems and jewellery exports rose by over 11 per billion in the next five years on various sustainable and cent to USD 6.78 billion during the first two months of renewable energy programmes in India, of which 20% the current fiscal, largely driven by demand in major will go in building eco-friendly or green homes in the markets like the US. In April-May last year, the sector's country, said a top company executive. exports aggregated to USD 6.1 billion, according to the data from Gems and Jewellery Export Promotion Read More: Council (GJEPC). http://www.livemint.com/Industry/ExNmVhK0mJyMQe PB8eDuWL/IFC-to-invest-up-to-6-billion-on-energy- Read More: initiatives-in-Indi.html https://www.ibef.org/news/gems-jewellery-exports-rise- 11-pc-during-aprimay

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Textile industry size to touch US$ 250 bn in 2 years: India tops growth rate among leading car markets Official India is the only country among the top seven car The size of India's textile market is expected to touch markets to grow at a double-digit rate in the first five USD 250 billion in the next two years from USD 150 months of 2017. The world’s fifth-largest market for billion now, a senior government official said. We see passenger vehicles (cars, vans and utility vehicles) tremendous growth potential for the textile industry and expanded by over 11 per cent over the year-ago period. it is expected to touch USD 250 billion in the next two This came when the top two markets China and the US years from the present USD 150 billion. The domestic saw a declining trend. market is (currently) estimated at USD 110 billion and exports at USD 40 billion," Textile Commissioner Kavita Read More: Gupta said. https://www.ibef.org/news/india-tops-growth-rate- among-leading-car-markets Read More: http://ptinews.com/news/8856001__Textile-industry- Retail: size-to-touch--250-bn-in-2-years--Official$storyes Walmart to invest Rs 900 crores to open 15 outlets in Automobile: Maharashtra

Tencent in talks to invest $400 million in Ola: report

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 Chinese internet conglomerate Tencent is in advanced talks to invest in transport app Ola, said a report in The India considering 100% FDI in multi-brand retail, with Economic Times. The company may invest $400 million riders (approximately Rs2,500 crore), if the deal gets completed successfully. The Tencent investment will help Ola raise India is considering a proposal to lift a cap on foreign over $800 million in fresh total funding, which will push direct investment (FDI) in local supermarkets, according Ola’s valuation to over $4 billion. to people with the knowledge of the matter. Govt may allow 100% FDI in multi-brand retail by foreign retailers Read More: like Wal-Mart and Carrefour if they agree to 30% local http://www.livemint.com/Companies/4OxpM1oKpIAlW sourcing and employ 1,000 people for every $100 million wlAw8e5tL/Tencent-in-talks-to-invest-400-million-in- investment. India’s food and grocery market is the Ola-report.html world’s sixth largest, with retail contributing 70% of sales.

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Food is one of the largest segments in India’s 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 http://ptinews.com/news/8925606__Google-trained- YdOrN/India-is-said-to-consider-backing-foreign- over-5-lakh-people-to-digitally-empower-SMBs$storyes investment-in-supe.html India is a great place for innovation: Microsoft Technology:

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 India's richest man Mukesh Ambani is aiming with the businesses in the country. introduction of fourth-generation network-enabled feature phones the segment of lower-end mobile phones which still dominates the country's handset market.

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Customers will be required to pay only a refundable India ranks 23rd among 165 nations in cybersecurity security deposit of 1,500 rupees ($23.31) for three years. index

Read More: India is ranked a high 23rd out of 165 nations in a global https://asia.nikkei.com/Business/Companies/India-s- index that measures the commitment of nations across Reliance-Jio-announces-effectively-free-4G-feature- the world to cybersecurity. phones Rad More: TCS' iON takes digital learning marketplace abroad http://ptinews.com/news/8863283__India-ranks-23rd- among-165-nations-in-cybersecurity-index$storyes Tata Consultancy Services’ iON is taking its education marketplace overseas as it taps schools, colleges and Defense / Space: corporate houses to offer online courses. TCS has taken iON to Japan and is looking to expand to Russia, India Likely To Ink Deal On 48 Mi-17 Latin America, the UK and Ireland. TCS expects the Choppers Supply This Year: Official 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

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 Mobile data subscription will cross 900 million users by India, ranks among the most technically advanced 2022 in the next five years, with penetration doubling to helicopters of the Mi-8/17 type, incorporating the best 80 per cent, according to a CRISIL report. While mobile engineering solutions of previous generations. data usage doubled to 1.3 GB (gigabytes) per user per month between 2013 and 2017, it is expected to reach 2.3 Read More: GB per user by 2022. http://www.indiandefensenews.in/2017/07/russia-india- likely-to-ink-deal-on-48.html Read More: http://www.business-standard.com/article/current- affairs/mobile-data-subscribers-to-touch-900-mn-by- 2022-crisil-117072501661_1.html

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India to see launch of two moon missions in early 2018 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 The country will witness the launch of two lunar Indian travelers visited Australia, according to data missions from Indian soil early next year: Indian Space given by Tourism Australia. Research Organisation (Isro) will launch its Chandrayaan-2 mission, an advanced version of its 2018 Read More: mission with the objective of deeper lunar surface probe, http://economictimes.indiatimes.com/magazines/travel/a and another mission by Team Indus, a group of space ustralia-eyes-over-3-lakh-tourists-from-india-in- enthusiasts who want to unfurl the tricolour on the 2017/articleshow/59635383.cms moon’s surface as part of a global lunar competition.

Read More: http://economictimes.indiatimes.com/articleshow/598293 03.cms

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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.

He’s 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, . 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.

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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

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Upcoming Trade Fairs in India

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