We have already discussed slowdown in the economy would start from Second half of 2019 last year. That is what we are seeing
Indian Economy : News,Discussions & Updates
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We have already discussed slowdown in the economy would start from Second half of 2019 last year. That is what we are seeing
RCEP negotiations: India lists out demands before China for market accessAmazing how we needed a think tank to tell us this.
Even then there is no certainty that we will pull out of it.
Playing hardball with China in the on-going negotiations for the Regional Comprehensive Economic Partnership (RCEP) pact, India has read it out a big list of demands for market access in both goods and services, including larger exports of drugs, sugar, rice, dairy, soybean, IT and other services.
In a meeting between China’s Vice Minister of Commerce Wang Shouwen and India’s Commerce Secretary Anup Wadhawan on the sidelines of the on-going RCEP Ministerial meet in Beijing, New Delhi pointed out that a RCEP deal will be acceptable to the country only if it addresses the existing level of trade imbalance, a government official told BusinessLine.
“A firm decision has been taken by the Indian government that for the country to enter into an RCEP agreement offering market access to China, among the other fifteen member countries, it is imperative that all its demands in goods and services are met by Beijing. Otherwise, given the almost $60 billion trade imbalance and the resistance from the Indian industry, it would be difficult for India to accede to the RCEP,” the official said.
Trade and investment deal
Most countries in the sixteen-member grouping, which comprises the ten ASEAN countries, China, India, South Korea, Japan, Australia and New Zealand, who are attending the Ministerial meet, are hoping to make official the tentative November-end deadline for concluding the trade and investment deal. But New Delhi, has held the position that it does not want to be hurried into a bad deal.
In fact, Indian negotiators have now started indicating that they may say no to a pact if they do not get what they are seeking not just in goods, but also in services where offers have been “disappointing”.
Wadhawan, in his meeting with the Chinese, demanded larger exports of products like pharmaceuticals, sugar and rice from India and also used the opportunity to push for some of the market access related to items such as milk and milk products, pomegranate, soyabean meal and okra. “He also used the opportunity to flag issues pertaining to Indian service sector including IT and ITeS and issues pertaining to easing business visas by China to Indian business travellers,” the official said.
The RCEP Ministers are expected to shortly issue a `media statement’ after the conclusion of their two-day meeting. The RCEP countries together constitute more than a third of the world’s GDP, almost half of its population and 30 per cent of global trade.
RCEP negotiations: India lists out demands before China for market access
In response to a question by @Picdelamirand-oil on astrology thread, I had predicted the same.
Wrong title given by the writer.
The problem of Indian economy is shown in this graphic
There is very small progress in the use of fossil energy and then your dependency to these energy is strong. If there were to be a shortage, it would have a major impact on you. But not as big as the Chineese 
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Exclusive | Flipkart to challenge Amazon in video streaming; will launch pre-Diwali
Flipkart Plus is a rewards and loyalty service, which rivals Prime, Amazon’s loyalty and membership programme
Last Updated : Aug 05, 2019 04:12 PM IST | Source: Moneycontrol.com
Walmart-owned Flipkart plans to open a new front in its ongoing battle with arch rival Amazon for supremacy in the Indian market. This time the theatre of action will be India’s Rs 4,462 crore video streaming industry.
Flipkart will launch free video streaming before Diwali, for its ‘Plus’ premium subscribers, sources told Network18.
Flipkart Plus is a rewards and loyalty programme like Amazon’s Prime membership, which offers faster shipping and exclusive deals. The only difference between Flipkart Plus and Prime is that the latter offers video content as well, in addition to music.
“Video was missing, and we will have it soon,” said the first source, adding: “Video has its own merits in a country that lives and breathes cinema.”
The Walmart subsidiary’s foray into video comes at a time when Amazon is doubling down on its entertainment offerings in India, with a host of originals and exclusives. Run by Jeff Bezos, the world’s richest man, Amazon launched Prime Video in India in December 2016 and since then has garnered 13 million users, according to research firm Redseer, which is more than 10 percent of Prime’s global user base.
To put things in context, to gain eyeballs and loyal users, companies often use the ABCD card -- of astrology, Bollywood, cricket and divinity. Flipkart is betting on Bollywood, and it will serve entertainment to Plus users free of cost.
One can become a Plus member by collecting 300 Super Coins, or reward points (a user gets two super coins for every Rs 100 of purchase on Flipkart). A Plus member gets faster delivery and can use the reward points to purchase more goods from Flipkart or its 100 partner companies like Zomato, OYO and MakeMyTrip.
“Why should someone have separate apps to shop and watch movies… Video is just another service,” said the second source, adding that video will create a lot of stickiness. Of course, every time a Plus member wants to watch a show or a movie, he navigates through the shopping app.
Flipkart already has about five-six million Plus members who enjoy the benefits of special deals and faster delivery. “They can now watch movies and episodic content free of cost,” the first source said.
Entertainment has helped Amazon in the US and India too. It creates loyalty and offers a lot more value. At the heart of Amazon’s strategy is to use video to convert viewers into shoppers. Its videos drew more than five million people worldwide to its shopping club by early 2017, according to company documents accessed by Reuters. In the US about 26 million watch its films and shows. The number has only gone up since.
“A combination of e-commerce services and entertainment services is fairly unique. This combination helps in bringing more Prime customers,” said Ujjwal Chaudhry, Director – Consumer Internet, Redseer.
For perspective, 10 percent of all 120 million online shoppers in India is on Prime. But, only 40 percent of them have paid for Prime. The remaining received it through bundled services of telecom operators. For example, Airtel postpaid users get free Prime subscription for a year. Also, half of the Prime users, according to Redseer, use it for video.
“Of the paying subscribers, in a survey recently conducted, we found that around 30 percent bought Prime for video services,” Chaudhry said. “While the service is being purchased for entertainment, the subscriber could also end up purchasing products on the e-commerce site.”
Flipkart Plus, unlike Prime, is not a paid subscription. The biggest hurdle, experts would say, to join Prime is that customers are required to pay Rs 1,000 upfront for an annual membership. Not having a paid subscription widens Flipkart’s appeal to people who want to watch movies and shop simultaneously.
Unlike Amazon and Netflix, Flipkart will not have original content. Flipkart will aggregate content from content producers. The cornerstone of Flipkart’s video streaming services’ success will be its ability to get as many exclusive streaming rights as possible.
An email sent to Flipkart for comments and context did not elicit any response at the time of publishing the story. We will update the story when we get it.
Kalyan Krishnamurthy, Flipkart’s CEO, will have to watch out for competition in the video business, which is already cluttered. Hotstar, run by Star Network, which witnessed a new peak after the Cricket World Cup, has 300 million monthly active users; MX Player 176 million, ZEE5 60 million, Prime 13 million, and Netflix 11 million.
(Anand Murali is a contributing columnist for Moneycontrol)
Exclusive | Flipkart to challenge Amazon in video streaming; will launch pre-Diwali
Flipkart Plus is a rewards and loyalty service, which rivals Prime, Amazon’s loyalty and membership programme
Last Updated : Aug 05, 2019 04:12 PM IST | Source: Moneycontrol.com
Walmart-owned Flipkart plans to open a new front in its ongoing battle with arch rival Amazon for supremacy in the Indian market. This time the theatre of action will be India’s Rs 4,462 crore video streaming industry.
Flipkart will launch free video streaming before Diwali, for its ‘Plus’ premium subscribers, sources told Network18.
Flipkart Plus is a rewards and loyalty programme like Amazon’s Prime membership, which offers faster shipping and exclusive deals. The only difference between Flipkart Plus and Prime is that the latter offers video content as well, in addition to music.
“Video was missing, and we will have it soon,” said the first source, adding: “Video has its own merits in a country that lives and breathes cinema.”
The Walmart subsidiary’s foray into video comes at a time when Amazon is doubling down on its entertainment offerings in India, with a host of originals and exclusives. Run by Jeff Bezos, the world’s richest man, Amazon launched Prime Video in India in December 2016 and since then has garnered 13 million users, according to research firm Redseer, which is more than 10 percent of Prime’s global user base.
To put things in context, to gain eyeballs and loyal users, companies often use the ABCD card -- of astrology, Bollywood, cricket and divinity. Flipkart is betting on Bollywood, and it will serve entertainment to Plus users free of cost.
One can become a Plus member by collecting 300 Super Coins, or reward points (a user gets two super coins for every Rs 100 of purchase on Flipkart). A Plus member gets faster delivery and can use the reward points to purchase more goods from Flipkart or its 100 partner companies like Zomato, OYO and MakeMyTrip.
“Why should someone have separate apps to shop and watch movies… Video is just another service,” said the second source, adding that video will create a lot of stickiness. Of course, every time a Plus member wants to watch a show or a movie, he navigates through the shopping app.
Flipkart already has about five-six million Plus members who enjoy the benefits of special deals and faster delivery. “They can now watch movies and episodic content free of cost,” the first source said.
Entertainment has helped Amazon in the US and India too. It creates loyalty and offers a lot more value. At the heart of Amazon’s strategy is to use video to convert viewers into shoppers. Its videos drew more than five million people worldwide to its shopping club by early 2017, according to company documents accessed by Reuters. In the US about 26 million watch its films and shows. The number has only gone up since.
“A combination of e-commerce services and entertainment services is fairly unique. This combination helps in bringing more Prime customers,” said Ujjwal Chaudhry, Director – Consumer Internet, Redseer.
For perspective, 10 percent of all 120 million online shoppers in India is on Prime. But, only 40 percent of them have paid for Prime. The remaining received it through bundled services of telecom operators. For example, Airtel postpaid users get free Prime subscription for a year. Also, half of the Prime users, according to Redseer, use it for video.
“Of the paying subscribers, in a survey recently conducted, we found that around 30 percent bought Prime for video services,” Chaudhry said. “While the service is being purchased for entertainment, the subscriber could also end up purchasing products on the e-commerce site.”
Flipkart Plus, unlike Prime, is not a paid subscription. The biggest hurdle, experts would say, to join Prime is that customers are required to pay Rs 1,000 upfront for an annual membership. Not having a paid subscription widens Flipkart’s appeal to people who want to watch movies and shop simultaneously.
Unlike Amazon and Netflix, Flipkart will not have original content. Flipkart will aggregate content from content producers. The cornerstone of Flipkart’s video streaming services’ success will be its ability to get as many exclusive streaming rights as possible.
An email sent to Flipkart for comments and context did not elicit any response at the time of publishing the story. We will update the story when we get it.
Kalyan Krishnamurthy, Flipkart’s CEO, will have to watch out for competition in the video business, which is already cluttered. Hotstar, run by Star Network, which witnessed a new peak after the Cricket World Cup, has 300 million monthly active users; MX Player 176 million, ZEE5 60 million, Prime 13 million, and Netflix 11 million.
(Anand Murali is a contributing columnist for Moneycontrol)
Exclusive | Flipkart to challenge Amazon in video streaming; will launch pre-Diwali
Nirmala Sitharaman to meet stakeholders for actions proposed by U.K. Sinha Committee to boost MSMEs
By: FE Online | Updated: August 4, 2019 9:53:43 PM
Finance Minister Nirmala Sitharaman will meet with the concerned stakeholders within the next week to finalise decisions to be taken and timelines for action required with respect to the Expert Committee on MSMEs
The U.K. Sinha committee in its report had made “over a hundred far-reaching recommendations for the MSME sector.”
Finance Minister Nirmala Sitharaman will meet with the concerned stakeholders within the next week to finalise decisions to be taken and timelines for action required with respect to the Expert Committee on MSMEs headed by former SEBI Chairman U.K. Sinha and aimed at enhancing the competitiveness and credit accessibility for MSMEs, the Finance Ministry said in a statement however the day for the meeting wasn’t disclosed. The eight-member committee was set up in January this year by the Reserve Bank of India to review and support the sector with the economic and financial sustainability apart from locating structural problems impacting its growth etc. The committee had submitted its report in June this year.
The minister would meet representatives from various ministries, viz. MSME, Electronics and Information Technology, Rural Development, Health and Family Welfare, Corporate Affairs, apart from multiple departments including Commerce, Industrial Promotion, Telecom, Revenue, Expenditure, and SIDBI, NPCI etc., as “many of the actions proposed by the Committee involve inter-ministerial or inter-agency coordination,” the ministry said.
The U.K. Sinha committee in its report submitted had made “over a hundred far-reaching recommendations for the MSME sector,” according to the ministry, including ‘reimagining’ MSMED Act, 2006, for a holistic MSME code, ‘more focused’ role of SIDBI with state governments for MSME development, along with issues pertaining to delayed payments, venture capital financing for MSMEs, micro and small enterprises facilitation council, cluster development 2.0, encouraging technology adoption, increasing limit for non-collateral loans to Rs 20 lakh, cash-flow based lending by banks, rural MSMEs access to digital payments and commerce, restructuring of NPA accounts, making MSME Ministry the nodal ministry for all ‘interventions’ pertaining to the MSME sector etc.
Meanwhile, the ministry said that Nirmala Sitharaman will meet heads of all public and private sector banks on Monday (August 5) for reviewing matters with respect to credit growth in “important sectors of the economy such as MSMEs, retail, automobiles, affordable housing, NBFCs/ HFCs” apart from priority areas for banks in the upcoming months to boost GDP growth.
Nirmala Sitharaman to meet stakeholders for actions proposed by U.K. Sinha Committee to boost MSMEs
By: FE Online | Updated: August 4, 2019 9:53:43 PM
Finance Minister Nirmala Sitharaman will meet with the concerned stakeholders within the next week to finalise decisions to be taken and timelines for action required with respect to the Expert Committee on MSMEs
The U.K. Sinha committee in its report had made “over a hundred far-reaching recommendations for the MSME sector.”
Finance Minister Nirmala Sitharaman will meet with the concerned stakeholders within the next week to finalise decisions to be taken and timelines for action required with respect to the Expert Committee on MSMEs headed by former SEBI Chairman U.K. Sinha and aimed at enhancing the competitiveness and credit accessibility for MSMEs, the Finance Ministry said in a statement however the day for the meeting wasn’t disclosed. The eight-member committee was set up in January this year by the Reserve Bank of India to review and support the sector with the economic and financial sustainability apart from locating structural problems impacting its growth etc. The committee had submitted its report in June this year.
The minister would meet representatives from various ministries, viz. MSME, Electronics and Information Technology, Rural Development, Health and Family Welfare, Corporate Affairs, apart from multiple departments including Commerce, Industrial Promotion, Telecom, Revenue, Expenditure, and SIDBI, NPCI etc., as “many of the actions proposed by the Committee involve inter-ministerial or inter-agency coordination,” the ministry said.
The U.K. Sinha committee in its report submitted had made “over a hundred far-reaching recommendations for the MSME sector,” according to the ministry, including ‘reimagining’ MSMED Act, 2006, for a holistic MSME code, ‘more focused’ role of SIDBI with state governments for MSME development, along with issues pertaining to delayed payments, venture capital financing for MSMEs, micro and small enterprises facilitation council, cluster development 2.0, encouraging technology adoption, increasing limit for non-collateral loans to Rs 20 lakh, cash-flow based lending by banks, rural MSMEs access to digital payments and commerce, restructuring of NPA accounts, making MSME Ministry the nodal ministry for all ‘interventions’ pertaining to the MSME sector etc.
Meanwhile, the ministry said that Nirmala Sitharaman will meet heads of all public and private sector banks on Monday (August 5) for reviewing matters with respect to credit growth in “important sectors of the economy such as MSMEs, retail, automobiles, affordable housing, NBFCs/ HFCs” apart from priority areas for banks in the upcoming months to boost GDP growth.
Nirmala Sitharaman to meet stakeholders for actions proposed by U.K. Sinha Committee to boost MSMEs
India Picks New Site For $44B Aramco-ADNOC Mega Refinery
By Tsvetana Paraskova - Jun 19, 2019, 6:00 PM CDT
The Indian state of Maharashtra has identified a new location where India, in partnership with the state oil companies of Saudi Arabia and the UAE, plans to build a giant US$44-billion refinery, the chief minister of Maharashtra state, Devendra Fadnavis, said on Wednesday.
In June last year, Saudi Aramco and the Abu Dhabi National Oil Company (ADNOC) signed a framework agreement and a memorandum of understanding with a consortium of Indian national oil companies to join the mega project in the Maharashtra state on India’s west coast. Saudi Aramco and ADNOC will jointly own 50 percent of the new joint venture company RRPCL, while the other 50 percent will be held by the Indian consortium. The parties agreed to explore a strategic partnership and co-investment in the development of the US$44 billion mega refinery.
By investing in the giant Indian refinery, the national oil companies of leading OPEC producers Saudi Arabia and the UAE would secure off-take for their crude in a strategic fast-growing oil market in Asia.
However, the process of land acquisition for the new giant complex was put on hold late last year due to strong opposition from local farmers at the initially identified location. Farmers opposed the choice for the giant refinery because many of them depend on their land for their income and livelihoods.
After the suspension of the land acquisition at the previous site, Fadnavis announced in February this year that the refinery would be relocated to another site, without specifying it.
Now the Maharashtra state has picked the new location, in the Raigad district, some 62 miles (100 kilometers) south of Mumbai, Reuters quoted Fadnavis as saying in a written reply to lawmakers in Maharashtra state.
The previously proposed site at Nanar lies around 248 miles (400 kilometers) south of Mumbai.
A state-run City and Industrial Development Corporation plans to buy land from around 40 villages in the Raigad district for the refinery, Fadnavis told lawmakers, as carried by Reuters.
Alongside investment in the mega refinery, Saudi Arabia has recently pledged to invest US$100 billion in India’s energy sector in its continued efforts to lock in future demand for its oil on the fastest-growing Asian markets.
India Picks New Site For $44B Aramco-ADNOC Mega Refinery | OilPrice.com