Fri, Jul 28, 2017 | updated 06:40 PM IST

India positive on emerging markets: Nomura

Updated: Jul 23, 2016 13:14 IST      
India positive on emerging markets: Nomura

New Delhi, July 23 (ANI): According to a new report by Nomura, India has presented the biggest turnaround story in the emerging market as it has been focusing on long-term, gradual GDP growth with slower methods, which help create sustainability in the markets.

As per the Nomura researchers, India's GDP growth surged from 7.3 percent in 2015 to 7.8 percent in 2016 and is likely to witness 8.0 percent in 2017.

However, it already grew 7.9 percent in the beginning of this year, up from 7.2 percent in the last quarter of 2015.

Nomura reports the main reason for India's success story is its long-term focus on reforms and judicious policies - an outlook that lends itself to such gradual but sustainable expansion.

"In the world's largest democracy, it shouldn't be surprising that reforms are progressing only

gradually," says the report.

"But over time they add up, which is more than can be said for most other large EM economies," it adds.

Nomura has stated some of India's successful reforms that have led to its growth including streamlined bureaucracy, boost in infrastructure spending, reforms in the power sector and flexible inflation targeting monetary policy framework.

The biggest advocate of these business and government reforms has been Prime Minister Narendra Modi, who came to power in 2014 and whose pro-business, pro-technological progress platform has helped India's growth.

Raghuram Rajan, who currently heads the Indian central bank Reserve bank of India (RBI), is stepping down on September 4 this year, has recently said that Prime Minister Modi's reforms have led to India's macroeconomic stability.

According to Rajan, some of these ambitious structural reforms to revive growth include efforts to boost productivity in the agricultural sector, a strong push to deregulate business, efforts to improve public sector banks and an immense effort to expand financial services by providing bank accounts and direct benefit transfers.

The Nomura researchers don't see agricultural productivity reforms as a success story yet, but they do see it as an opportunity for potential growth, along with more reforms in labour and education.

"India's macro stability to the government's path of fiscal consolidation and PM Modi's measures to cut the fiscal deficit that had widened dramatically after the post-financial crisis stimulus. India's basic balance has not only improved considerably, but is once again positive," Rajan credited.

Other factors that have boosted India's GDP and led to the turnaround have been low energy prices and the RBI's low interest rates and efforts to contain inflation.

India's population demographics have also helped. In contrast to many developed countries that are aging and shrinking, the developing countries like India are still young and growing - meaning more output, more demand and more growth. (ANI)

Jabong announces big brand sale; aims at heavy profits

Updated: Jul 28, 2017 18:29 IST     

New Delhi [India], July 28 (ANI): Leading fashion and lifestyle e-ecommerce platform, Jabong has announced the launch of its biggest fashion festival called the "Big Brand Sale" from 29 to 31 July. The company expects an eight fold increase in its revenue during the event.

Full Story >>

New Delhi [India], July 28 (ANI-NewsVoir): As a part of the Government of Odisha's initiative to promote self-reliance and economic independence among the visually-impaired women of the Gajapati district, a Sanitary Napkin Unit has been proposed to be set up.

Full Story >>

Virgin Atlantic sells 31 percent stake to Air France

Updated: Jul 28, 2017 17:44 IST     

London [UK], July 2 (ANI): Air France has taken a big piece of Britain's second-biggest long-haul airline, Virgin Atlantic.

Full Story >>

New Delhi [India], July 28 (ANI): ESS Global, a consultancy firm that provides recruitment services for students who wish to study abroad, announces its plans to recruit students from North India for studying abroad by this year-end in bid to maximize its international presence.

Full Story >>

New Delhi [India], July 28 (ANI-NewsVoir): India has approximately 150 million children in primary education, nearly half of which are unable to read well. According to a UNESCO report of September 2016, "India will be half a century late in achieving universal education goals." India's poorest are disproportionately affected by this, which creates entrenched cycles of poverty.

Full Story >>

Integrating prevention and treatment tools to fight diarrhea

Updated: Jul 28, 2017 15:24 IST     

New Delhi [India], July 28 (ANI-NewsVoir): PATH's Defeat Diarrheal Disease Initiative (DefeatDD) convened thought leaders in New Delhi on July 26, at an event titled, "Defeating diarrhea: integration is the solution," to deliberate on child health in India and the challenges that India faces in tackling diarrhea.

Full Story >>

BRICS Meeting: GST lauded by heads of revenue in China

Updated: Jul 28, 2017 15:06 IST     

New Delhi [India], July 28 (ANI): At the recent meeting of the BRICS heads of revenue and tax experts held from July 25 to 27 in Hangzhou, China, India's latest Goods and Services Tax (GST) reforms were appreciated and hailed by the BRICS countries.

Full Story >>

New Delhi [India], July 28 (ANI): Aiming to ease compliance with the recently launched Goods and Services Tax (GST), ClearTax has announced the launch of its GST Suvidha Kendra initiative.

Full Story >>

New Delhi [India], July 28 (ANI-NewsVoir): SumTotal, a Skillsoft group company, and the leading provider of talent management solutions, today announced that it has been recognized as a Hot Software Vendor in the Nucleus Research report, The Eight Hot and Cold Vendors of 2017, recently published by Ian Campbell and Trevor White.

Full Story >>

New Delhi [India], July 28 (ANI): FCA India on Friday announced the appointment of Raghavendra Kulkarni as the new Head of After sales, effective immediately.

Full Story >>

New Delhi [India], July 28 (ANI): FlintoClass, a product for preschools to deliver high quality early learning program for kids has announced its achievement of 100 percent growth over the months.

Full Story >>

Lendingkart hires two new VPs to strengthen core leadership

Updated: Jul 28, 2017 12:07 IST     

New Delhi [India], July 28 (ANI): In a significant move to enhance the company's core leadership, Lendingkart Group has announced appointment of Utsav Mehrotra, an investment banker with Axis Capital, as Vice President of Capital Markets taking charge of fund raising and marketplace initiatives, and Abhishek Arora, who was heading the seller management and growth vertical at e-commerce unicorn in Middle-East and North Africa (MENA) region -, as the Vice President of revenue and operations.

Full Story >>

New Delhi [India], July 28 (ANI): Delhi-based footwear brand Campus Shoes is all set to expand its footprint in the market, as the manufacturer is all set to collaborate with retail giants like Shoppers Stop stores, Avenue Supermart Ltd (D Mart), Metro Shoes and Reliance Footwear.

Full Story >>

Former MD of Dell appointed as COO, Capillary Technologies

Updated: Jul 28, 2017 11:41 IST     

New Delhi [India], July 28 (ANI): Capillary Technologies, a customer engagement and commerce platform has announced appointment of Ganesh Lakshminarayanan, the former President and MD of Dell, as the new COO of the company.

Full Story >>

New York [USA], July 28 (ANI): Amid reports of taking over as the new CEO of Uber, Meg Whitman, CEO of Hewlett Packard Enterprise, while denying the same said she is "fully committed" to the latter.

Full Story >>

New York [USA], July 28 (ANI): Entrepreneur and Tesla Motors Chairman and CEO Elon Musk's SpaceX, a rocket-producing firm, raised around USD 350 million in its latest round of funding, thus taking over as the world's most valuable privately-held firm.

Full Story >>

Creatigies drives Tata Yodha and U.P. Yoddha together

Updated: Jul 27, 2017 19:06 IST     

New Delhi [India], July 27 (ANI-Newsvoir): UP Yoddha, the new Franchise in the upcoming edition of Pro Kabaddi League, rides in with Tata Motors' Yodha, as the Lead Principal Sponsor for the Season 5, 6 and 7 (2017-2019). Creatigies Communications Pvt. Ltd., an independent, integrated marketing agency working across multiple platforms i.e. Sports, Fashion, Entertainment and Media aided in the forging of the partnership.

Full Story >>

New Delhi [India], July 27 (ANI): Cloud communications services provider Knowlarity has announced its rebranding with a complete redefining of look, vision, and the entire avatar.

Full Story >>

Paytm Mall Campus Icon Programme receives over 20,000 entries

Updated: Jul 27, 2017 17:58 IST     

New Delhi [India], July 27 (ANI): Paytm Mall, owned by Paytm e-commerce Pvt. Ltd. launched an industry-focused learning programme Campus Icon which will mentor students on critical real-world techniques related to product, marketing, design among others via seminars.This has received over 20,000 responses.

Full Story >>

India Innovation Growth Programme 2.0 top winners announced

Updated: Jul 27, 2017 17:37 IST     

New Delhi [India], July 27 (ANI-Newsvoir): The winners from the University Challenge and Open Innovation Challenge of the India Innovation Growth Programme 2.0 (IIGP 2.0) were announced in New Delhi today. Over 1300 applications for innovative ideas across social and industrial sectors were received.

Full Story >>