WEF: FM Jaitley to speak on country's economic outlook soon

All the lowdown on the three-day India Economic Summit

7:01 PM

The Indian economy is set to become the world's fourth largest in just 5 years, and GDP growth is expected to be above 7% this year.

6:53 PM

 

An Insight, An Idea with Arun Jaitley:

 

Join the Finance Minister as he talks about India's economic, political and social outlook at 7:15 pm.

6:14 PM

Smaller Asian countries see the benefit of getting involved in BRI but are there issues down the road?

6:02 PM

The panel for this conversation included Vice-President, Observer Research Foundation (ORF), Samir Saran, Member of Parliament, Parliament of India, Shashi Tharoor, Foreign Secretary, Ministry of Foreign Affairs of Bangladesh, Shahidul Haque, Chairperson, Council for Security Cooperation in the Asia Pacific, Indian Council of World Affairs, Leela Ponappa, Diplomatic Editor and Deputy Resident Editor, The Hindu, Suhasini Haidar.

 

5:52 PM

World Economic Forum on Asia’s New Normal:

 

As new transnational infrastructure and economic projects come up across Asia, will the countries connect and work together, or contest and turn inwards?

 

One such project is the Chinese-led Belt and Road initiative, a project planned to reopen channels between China, its Asian neighbours, the Middle East and Europe. With Prime Minister Narendra Modi calling the project a “colonial enterprise”, how will India – and other countries in South Asia – balance national sovereignty with the imperative of economic integration?

5:07 PM

Prabhu added: "I will make sure that industry is able to do their business. It is my job to ensure that entrepreneurship blossoms.”

Read here to know more 

5:04 PM

Commerce and Industry Minister Suresh Prabhu at World Economic Forum’s India Economic Summit said: 

"I am personally working to provide necessary policy as well as fiscal support to ensure the industry can actually produce far more than what they are doing today that will create jobs."

4:51 PM

4:51 PM

Chairman of Dalmia Group Gaurav Dalmia says, "When bad ideas get funded, investors often blame the entrepreneurs rather than themselves."

4:47 PM

4:45 PM

Paytm CEO and Founder Vijay Shekhar Sharma says there's a need for more "incredible engineers" in India.

4:43 PM

4:41 PM

Conference on Scale-Up India: 

While India is among the fastest-growing start-up nations in the world, scalability and profitability remain the biggest missing pieces of the Indian start-up puzzle, how can it create mini-multinationals? 

The panel for this conversation on India’s start-up economy featured The Wharton School’s Kartik Hosanagar, Quartz India’s Diksha Madhok, India's IT Minister K T Rama Rao, Paytm Founder and CEO Vijay Shekhar Sharma and Dalmia Group Holdings Chairman Gaurav Dalmia.

 

 

3:50 PM

Ajay Banga said: "The only countries where cash is smaller than card are South Korea and the Scandinavian countries. This is because government policies. India is heading in the same direction." 

3:36 PM

Goyal said, "I don't remember spending cash after Novermber 8, 2016, except in temples. However, overseas I have paid digitally in temples also."

3:33 PM

Meanwhile, US-based payments company Mastercard said it is open to acquiring companies in India and will invest $800 million over the next 4-5 years.

CEO Ajay Banga said, "We have bought a couple of companies in India... that’s where the investments have been in the last 2-3 years. We are continuing with that. We are in the process of looking at other acquisitions and also organic investment."

Read the full copy here

3:29 PM

Goyal added, "People have realised that it pays to be honest to move the formal economy as transactions are becoming cheaper in digital India. The government didn't have to force anyone to make that shift."

3:12 PM

Goyal said, "We have an opportunity to lead the world in digitisation. That is one big outcome of demonetisation."

3:10 PM

Piyush Goyal said, "The country got too used to cash, the good thing that happened is that we are moving towards digitisation."

3:07 PM

A conversation with Piyush Goyal and Ajay Banga. Watch it HERE

2:56 PM

Terror organisations such as the UN designated entities — the Islamic State, Al Shabaab, Al Qaeda, Boko Haram, LeT, JeM — continue to expand their reach across continents destabilising entire regions through their cross-border financing, propaganda, recruitment over cyberspace and social media, he told the UN committee.

2:53 PM

India calls for closer and real-time intelligence sharing, coordination of operations and technology assistance to address the increasing challenges posed by transnational crime organisations.

2:43 PM

Minister of Railway and Coal Piyush Goyal and Mastercard’s CEO Ajay Banga discuss India’s transformation to a cashless society

 

 

 

2:40 PM

INDIA ON CLIMATE CHANGE

Struggling with pollution and environmental issues, India wants all new cars and trucks to be electric by 2030. One way to do this would be to reduce the number of petrol and diesel vehicles on the road. Check out this video:

 

2:34 PM

2:32 PM

Check out the pictures of the World Economic Forum HERE

12:48 PM

Adi Godrej said, "However, production might have taken place but it was not shown. For example, on Godrej's coumer product — toilet soap —GST rate was lowered by 7-8 per cent as compared to the earlier combination of excise duty and VAT."

12:43 PM

Chairman of the Godrej Group Adi Godrej on Indian economy: "Doubts on reforms started when we (India) published the April-June GDP growth. In June, we had a low-growth rate due to the implementation of the goods and services tax (GST)."

12:36 PM

What reforms will power India to a $10 trillion economy that is inclusive and broad-based? Watch it below

12:15 PM

Click here to read more on what Sumit Mittal said