July 2011

India way ahead of China in service sector growth

The Economic Times, 30 July, 2011
India is way ahead of China in terms of growth in the service sector. China’s target is an inclusive growth of 7-8% GDP growth for the next five years where India can play a large role. This was stated by Dr Bai Xuezhu, director of research, China Executive Leadership Academy (CELAP), while speaking at a seminar fielded by CII in Kolkata to create awareness about the latest developments in China and emerging business and investment opportunities for Indian businesses.

Global warming will compel nations to spend more on environment

The Economic Times, 22 July 2011
In the coming years, global warming will compel both developed and developing nations to spend more on environment protection.

US funding for clean energy projects

Express Buzz, 20 July, 2011
In what can be seen as an electrifying start to US Secretary of State Hillary Clinton’s visit to India, the US government-owned financial entity, Overseas Private Investment Corporation (OPIC) on Tuesday announced plans to invest up to $820 million (about `3,600 crore) in the renewable energy sector by the end of 2011.

Export growth of 40% will soon be pipedream: Rahul Khullar

India Infoline News Service, July 18, 2011
The exports growth of around 40% that we have witnessed in the recent past is going to be a pipedream, said Rahul Khullar, Commerce Secretary, Government of India, at an interactive session organized by PHD Chamber in New Delhi on Friday.

Migration making substantial contribution to development

The Financial Express, 12 July, 2011
In developing countries, migration is crowned as the linchpin of the economic wheel. Available studies emphatically show, as in the case of Bangladesh, how remittances from abroad have played a pivotal role in domestic resource mobilisation of recipient countries.

Why more migration makes sense

CNN, 06 July, 2011
In almost every rich country, anti-immigrant fervor is at fever pitch. But it is a malady that must be resisted if these societies are to continue to prosper and developing countries are to fight poverty and sustain economic growth.

Current account deficit narrows to 1.1% of GDP in fourth quarter

The Wall Street Journal, 01 July, 2011
India’s current account deficit narrowed to 1.1% of gross domestic product (GDP) in the fourth quarter of 2010-11 from 3.05% of GDP during the same period a year ago, aided by the robust performance of both merchandise and service exports.