NEWSLETTER – CONSULATE GENERAL OF INDIA, PERTH 1

Indian Economy:

Indian economy to reach $5 trillion by 2025: Morgan

Stanley

India's millennial population is a massive disruptive force

and driven by this supportive demographic along with

government's policy action, Indian economy is likely to

reach $5 trillion by 2025, says a report. By financial year

2024-25, Morgan Stanley expects per capita income to

rise 125 per cent to USD 3,650. The report said India's

millennial population of 400 million is the largest in the

world and is armed with around USD 180 billion in

spending power and with high smartphone adoption

and widespread availability of mobile broadband

infrastructure.

Read More:

http://profit.ndtv.com/news/economy/article-indian-

economy-to-reach-5-trillion-by-2025-morgan-stanley-

1661828

Indian economy remains a bright spot in global

landscape

The Indian economy is growing strongly and remains a

bright spot in the global landscape despite temporary

setback due to demonetization, as stated by the

International Monetary Fund (IMF) in its annual country

report on India. India is expected to grow at 6.6 per cent

in 2016-17 and 7.2 per cent in 2017-18. The fall of global

oil prices that began in late 2014 provided a major boost

to the economic activity in India. The government has

made significant progress on important economic

reforms, which will support strong and sustainable

growth going forward, and the implementation of the

goods and services tax (GST) will help raise India’s

medium-term growth to above 8 per cent.

Read More:

http://www.moneycontrol.com/news/economy/indian-

economy-remainsbright-spotglobal-

landscape_8545101.html

Consulate General of India

Perth

INDIA

BULLETIN NEWSLETTER

FEBRUARY2017

NEWSLETTER – CONSULATE GENERAL OF INDIA, PERTH 2

Economy to grow at 7.4% next fiscal: Ind-Ra

Indian Ratings and Research (Ind-Ra) expects the Indian

economy to grow at 7.4 per cent year-on-year in fiscal

year 2017-18. The growth will be backed by

consumption demand and government spending,

leading to a growth of 3 per cent in agriculture sector,

6.1 per cent growth in industries and 9.1 per cent growth

in the service sector. The final consumption expenditure

is expected to grow at 8.9 per cent for the private sector

and 9 per cent for the government. The Current Account

Deficit (CAD) is expected to be 1 per cent of the GDP in

2017-18, as compared to 0.9 per cent in 2016-17.

Read More:

http://www.ibef.org/news/economy-to-grow-at-74-next-

fiscal-indra

New FDI inflow raecord possible at US$ 36 billion in

9 months

India’s FDI in the April-December period rose 22% to

$35.8 billion from the year earlier. With three months to

go for the fiscal year end, the government expects fresh

inflows into equity to top the $40 billion India got in

FY16.Total FDI which includes inflows into

unincorporated bodies, reinvested earnings and other

capital in the nine months to December is pegged at $48

billion against $55.5 billion for the whole of the last fiscal

year.

Read More:

http://economictimes.indiatimes.com/news/economy/fin

ance/new-fdi-inflow-record-possible-at-36-bn-in-9-

months/articleshow/57213331.cms

Mumbai richest Indian city with total wealth of US$

820 billion: Report

Mumbai has become the richest city in India with a

combined wealth of US$ 820 billion, followed by Delhi

and Bengaluru, with wealth worth US$ 450 billion and

US$ 320 billion respectively, according to a report by

New World Wealth. Mumbai is home to 46,000

millionaires and 28 billionaires, while Delhi is home to

23,000 millionaires and 18 billionaires, and Bengaluru

has 7,700 millionaires, eight billionaires. The list also

includes Hyderabad (total wealth of US$ 310 billion,

9,000 millionaires and six billionaires), Kolkata (total

wealth of US$ 290 billion, 9,600 millionaires and four

billionaires), Pune (total wealth of US$180 billion, 4,500

millionaires and five billionaires), Chennai (US$ 150

billion, 6,600 millionaires, four billionaires) and Gurgaon

(US$ 110 billion, 4,000 millionaires and two billionaires).

Read More:

http://www.ibef.org/news/mumbai-richest-indian-city-

with-total-wealth-of-us-820-billion-report

Smart Cities Mission takes off:

Smart Cities Mission projects get off the ground in 2016;

Rs 1,32,197 crores proposals approved. Half of the 60

cities have formed the special purpose vehicles (SPVs)

mandated by the central government. Cities chosen to

be developed as smart cities, have an advantage of

better civic amenities; their citizens have higher

disposable incomes and there are opportunities for

trade, commerce and industrialization.

Read More:

http://www.financialexpress.com/economy/smart-cities-

mission-projects-get-off-the-ground-in-2016-rs-132197-

cr-proposals-approved/548360/

NEWSLETTER – CONSULATE GENERAL OF INDIA, PERTH 3

Food processing sector to generate 9 million jobs by

2024: Study

Indian food processing sector has potential to attract

US$ 33 billion of investment and generate employment

of 9 million persons days by FY 2024, said

an ASSOCHAM-Grant ThortonResearch paper. The food

processing is a key contributor to employment

generation in India. By 2024, food processing sector is

expected to employ 9 million people in India and

expected to generate about 8,000 direct and 80,000

indirect jobs in the state, the ASSOCHAM-Grant

Thornton joint study on 'Food Retail: Investment:

Infrastructure' noted.

Read More:

http://timesofindia.indiatimes.com/business/india-

business/food-processing-sector-to-generate-9-million-

jobs-by-2024-study/articleshow/57232475.cms

Investments:

M&As saw record in deal value last year

Merger and acquisition (M&A) activity scaled a six-year

high in 2016, with deal value at a record high of $56.2

billion, up 87 per cent over a year before.

The year also saw the largest ever inbound investment,

of $12.9 bn. Consultancy EY’s analysis shows a total of

867 deals with a total disclosed value of $56.2 bn were

announced. The surge in value was due to 12 billion-plus

dollar deals, totaling $34.4 bn. The largest transaction of

the year was the $12.9 bn acquisition of Essar Oil (98 per

cent stake) and Vadinar port by a consortium led by

Russia’s state-controlled petroleum giant, Rosneft.

Read More:

http://www.business-

standard.com/article/companies/m-a-activity-posts-

record-high-deal-value-of-56-2-bn-in-2016-says-ey-

report-117022300673_1.html

Jharkhand Global Investors Summit- Signs 209 MoUs

Worth Rs 3 Lakh Crore in investment

The Jharkhand government signed memorandums of

understanding (MoUs) worth Rs three lakh crore across

nine sectors during the Momentum Jharkhand Global

Investors Summit 2017 held in Ranchi. More than 9000

delegates from various countries- Australia, UAE, south

Korea, Sudan, Tunisia, china, Canada etc attended the

Summit.

Read More:

http://www.jagranjosh.com/current-affairs/momentum-

jharkhand-global-investors-summit-2017-concluded-

1487599840-1

Around 2,100 fresh FPIs registered in April to

November FY2017

Foreign Portfolio Investors (FPIs) find India an attractive

investment destination on the back of its long-term

growth prospects, stable macro-economy and ongoing

reforms. Furthermore, Securities and Exchange Board of

India (SEBI) norms to club all classes of foreign investors

into FPIs and simplifying registration procedures coupled

with direct entry for investment in the corporate bonds

for well-regulated foreign investor has resulted in the

number of FPIs rising almost 2,100 during the April-

November 2016 period as against 2,900 FPIs registered

in the previous fiscal. The total count may increase

further especially due to a proposal to exempt category I

and II FPIs from taxation on indirect taxes in Budget

2017-18.

Read More:

http://www.ibef.org/news/around-2100-fresh-fpis-

registered-in-april-to-november-fy2017

NEWSLETTER – CONSULATE GENERAL OF INDIA, PERTH 4

Cairn India to invest US$ 1 billion in five projects to

ramp up production

Cairn India Ltd (CIL), part of the Anil Agarwal-led

Vedanta Group, will invest $1 billion in five projects that

the company plans to develop shortly, acting chief

executive officer, Sudhir Mathur said. The Raageshwari

Deep Gas (RDG) project; the enhanced oil recovery (EOR)

programme at Aishwariya fields, the EOR programme at

Bhagyam and Barmer Hill and Aishwariya Barmer Hill.

These projects constitute about 80,000 barrels of oil

equivalent to 100,000 barrels of oil equivalent at peak

production.

Read More:

http://www.livemint.com/Industry/mzqZ9LDUggeptllsYR

aJ5O/Cairn-India-to-invest-1-billion-in-five-projects-to-

ramp-up.html

Govt plans to auction 280 mines worth Rs 10 lakh

crore in FY'18

The Government of India plans to auction 280 mines

with an estimated mineral value of over Rs 10 lakh crore

(US$ 149.45 billion) in the next fiscal year 2017-18. Apart

from these, there are 83 mines under litigation, whose

auction is dependent upon the outcome of legal process.

Drone technology, developed by IBM, will be used to

prepare topography maps and inspect the mines.

Around 21 mining leases have already been auctioned so

far with a cumulative resource value of around Rs 94,000

crore (US$ 14.04 billion).

Read More:

http://www.ibef.org/news/govt-plans-to-auction-280-

mines-worth-rs-10-lakh-crore-in-fy18

Max to invest Rs 400 crore to reach 120 cities in 4

years

Fashion brand Max, part of Dubai-based $9 billion

Landmark Group, is looking to double its turnover to Rs

5,000 crore in the next four years by expanding its sales

network to 400 stores in 120 cities. Max Fashion will

invest around Rs 400 crore over the next four years to

open new stores in tier I and II cities.

Read More:

http://economictimes.indiatimes.com/industry/cons-

products/fashion-/-cosmetics-/-jewellery/max-to-invest-

rs-400-crore-to-reach-120-cities-in-4-

years/articleshow/57240888.cms

Trade:

INDIA'S FOREIGN TRADE: January, 2017

Exports: January,2017 exports continue to show a

positive growth of 4.32 per cent in dollar terms (valued

at US$ 22115.03 million) and 5.61 per cent in Rupee

terms (valued at Rs. 150559.98 crore) as compared to

US$ 21199.02 million (Rs. 142568.31 crore) during

January,2016.

Imports: Imports during January 2017 were valued at

US$ 31955.94 million (Rs. 217557.32 crore) which was

10.70 per cent higher in Dollar terms and 12.07 per cent

higher in Rupee terms over the level of imports valued at

US$ 28866.53 million (Rs. 194134.02 crore) in January,

2016.

Read More:

http://pib.nic.in/newsite/PrintRelease.aspx?relid=158483

NEWSLETTER – CONSULATE GENERAL OF INDIA, PERTH 5

Technology:

Microsoft keeps India on the highest cloud

Microsoft chief executive Satya Nadella reaffirmed the

company's commitment to India by unveiling a slew of

India focused product rollouts, including a lighter version

of Skype. Skype Lite, a lighter version of the video and

voice calling software, has been especially designed for

use in India's telecom networks. India-focused Skype

bots and power saving functionality. The app will also

have Aadhaar based verification feature built-in, with

Microsoft partnering with India stack for this feature.

“Aadhaar gives India the opportunity to own control over

data.

Read More:

http://economictimes.indiatimes.com/tech/software/micr

osoft-keeps-india-on-the-highest-

cloud/articleshow/57296088.cms

Made in India in IT as strong as Made in Japan in

mfg'

Rajesh Gopinathan, the new CEO of the $17-billion TCS,

said in the world of technology services, the India brand

is as powerful as the Made in Japan brand was in

manufacturing.

Read More:

http://timesofindia.indiatimes.com/business/india-

business/made-in-india-in-it-as-strong-as-made-in-

japan-in-mfg/articleshow/57337283.cms

Apple to start India manufacturing in coming months

with iPhone SE: Report

Apple Inc will in the coming months start assembling its

lower-priced iPhone SE models at a contract

manufacturer’s plant in Indian technology hub of

Bengaluru. Apple’s Taiwanese manufacturing partner

Wistron Corp is setting up a plant in Bengaluru to focus

solely on assembling iPhones, a separate source

told Reuters earlier this month.

Read More:

http://www.livemint.com/Industry/zMSsZEwMYvW6SKC6

n30QsI/Apple-to-start-India-manufacturing-in-coming-

months-with-iPh.html

India: Strong growth expected in Internet of Things

The Internet of Things (IoT) which comprises of devices

connected to the Internet, other than computers and

smartphones, is expected to grow to 1.9 billion units in

India by 2020 from the current 60 million devices, as per

a report by Deloitte. The country's IoT market size is

expected to increase about seven times from US$ 1.3

billion in 2016 to US$ 9 billion by 2020. Industries such

as utilities, manufacturing, automotive, transportation

and logistics are expected to see highest adoption levels

of IoT in India by 2020.

Read More:

http://www.ibef.org/news/india-strong-growth-

expected-in-internet-of-things

NEWSLETTER – CONSULATE GENERAL OF INDIA, PERTH 6

Mobile payments to overtake physical card spends in

2017

Mobile and digital payments will overtake physical card

payments as the predominant non-cash payment mode

in India in 2017, driven by demonetization. The

possibility has been expressed by Deloitte India in its

report titled ‘Technology, Media and

Telecommunications (TMT) Predictions 2017’.

Read More:

http://economictimes.indiatimes.com/industry/banking/f

inance/banking/mobile-payments-to-overtake-physical-

card-spends-in-2017/articleshow/57089768.cms

Space/Defense:

India Launches Record-Breaking 104 Satellites on

Single Rocket

The Indian Space Research Organization (ISRO) launched

104 satellites into orbit aboard the Polar Satellite Launch

Vehicle on Feb. 14, 2017, setting a new record for the

most satellites launched simultaneously on one rocket.

Read More:

http://www.space.com/35709-india-rocket-launches-

record-104-satellites.html

Isro plans Saarc satellite launch in March,

Chandrayaan-2 in early 2018

The Indian Space Research Organisation (ISRO) plans to

launch 2 satellites in March and April 2017. The launch

vehicle GSLV MARK II would carry the satellite meant for

the benefit of the South Asian Association for Regional

Cooperation (SAARC) nations, and the GSLV MARK III will

inject the GSAT-19, a communication satellite. ISRO also

plans to launch Chandrayaan–2, India’s second mission

to the Moon, in the first quarter of 2018.

Read More:

http://www.ibef.org/news/isro-plans-saarc-satellite-

launch-in-march-chandrayaan2-in-early-2018

Reliance Defence signs warship repair pact with US

Navy

Reliance Defence and Engineering Ltd. (RDEL) has

announced an agreement with the American Navy for

repair and alteration services for warships of the largest

forward- deployed Seventh Fleet operating in the region

which includes Western Pacific and Indian Ocean. At any

given time there are roughly 50-70 ships and

submarines, 140 aircraft and approximately 20,000

sailors under its command. Reliance Shipyard at Pipavav

in Gujarat was the first shipyard in the country to receive

the Master Ship Repair Agreement (MSRA) certification

from the US Navy.

Read More:

http://www.ibef.org/news/reliance-defence-signs-

warship-repair-pact-with-us-navy

India to beat Japan to become third largest domestic

aviation market globally

The Indian aviation market is likely to overtake Japan this

year to become the world's third largest domestic

market after US and China. The Indian domestic market

is on track to surpass 100 million passengers in 2017,

said Kapil Kaul, CEO, Centre for Asia Pacific

Aviation (CAPA) in his address at the CAPA aviation

meet.

Read More:

http://timesofindia.indiatimes.com/business/india-

business/india-to-beat-japan-to-become-third-largest-

domestic-aviation-market-

globally/articleshow/57037385.cms

NEWSLETTER – CONSULATE GENERAL OF INDIA, PERTH 7

Renewable:

Mytrah Energy Announces $1.9 Billion Solar & Wind

Energy Investment in India

One of the leading independent power producers in

India’s renewable energy sector has announced a huge

investment plan in the state of Andhra Pradesh. Mytrah

Energy announced that it will invest Rs 13,000 crore ($1.9

billion) to set up wind and solar power projects in the

south Indian state of Andhra Pradesh. The investment

will be split between wind and solar power technologies,

with 1,000 megawatts planned installation for each. The

company expects the generation of 4,000 new jobs from

this venture. The projects will be spread across eight

districts in the state, including five districts that will host

wind energy projects for the first time. The company

hopes to have the projects operational within three years

of getting all government approvals.

Read More:

https://cleantechnica.com/2017/02/13/mytrah-energy-

announces-1-9-billion-solar-wind-energy-investment-

india/

Telecom:

Reliance Jio has the second largest user base in India:

Truecaller

Reliance Jio has become the second telecom player in

terms of users, capturing more than 23 per cent of the

Indian market. According to mobile communication app

Truecaller’s ‘TrueInsights Q4 Report’, Jio has grown

aggressively in the latter half of 2016, racking up over

16.2 million subscribers in November and taking its total

subscriber base to 51.87 million within three months of

launching the service.

Read More:

http://tech.firstpost.com/news-analysis/reliance-jio-has-

the-second-larget-userbase-in-india-truecaller-

362541.html

Automobile:

For Suzuki, India revenues beat Japan's

The strong double-digit ride is set to make India a

bigger market for Suzuki Motor Corporation (SMC) in

value than Japan, its home market. SMC’s Indian

subsidiary, Maruti Suzuki, already sells more vehicles

than SMC in Japan, and enjoys a greater market

capitalization over its parent. SMC is faced with a

declining market in Japan, whereas its Indian subsidiary

is seeing a capacity constraint, leading to a waiting

period of several months for some of its best-selling

models. The sales revenue gap between Suzuki’s Japan

and India operations narrowed down to $600 million in

FY16, from $2.55 billion in FY15. In these two years,

SMC’s Japan revenue grew 2 per cent to $9.29 billion,

while Suzuki’s India net sales went up 33 per cent from

$6.55 billion to $8.69 billion, data from SMC showed.

Read More:

http://www.business-

standard.com/article/companies/suzuki-india-revenue-

to-beat-japan-parent-116103101221_1.html

Tata Motors partners with Microsoft for new car

products

Within two weeks of announcing an open platform

strategy for developing passenger cars, Tata Motors

said that it has tied up with global technology

giant Microsoft to improve the in-car connected

experience. TAMO, the open platform from domestic

automaker allows collaboration with various technology

partners to launch low-volume niche products that can

prove Tata Motors product development capabilities.

This is a part for revamping product strategy of the

company for the passenger car segment to safeguard

itself from competition coming from technology giants

such as Google and Uber.

Read More:

http://www.business-

standard.com/article/companies/tata-motors-logs-into-

microsoft-to-improve-in-car-connected-experience-

117021600818_1.html

NEWSLETTER – CONSULATE GENERAL OF INDIA, PERTH 8

Upcoming Events/Trade Fairs in India: