Economy

The Electronics and IT Ministry has finalized a data protection law which will soon be taken to the cabinet and parliament for approval, Minister in charge, Ravi Shankar Prasad, has told an industry conference.

Only 17 out of 30 major product groups were in positive territory during May 2019 exports including electronic goods, organic & inorganic chemicals, drugs & pharma, RMG of all textiles, plastics & Linoleum, ceramic products & glassware, handicrafts and commodities.

Prime Minister Narendra Modi has acknowledged the challenge in the goal to make India a US$5 trillion economy by 2024 but has assured that it can be achieved.

The Indian Managed Security Services (MSS) market is expected to witness a healthy CAGR of 30.9% by 2022, according to a report by ResearchAndMarkets on 14 June 2019.

The Indian tourism industry is seeing a shift from destination-based to experience-based tourism, especially from millennial tourists, whose itinerary tops by Tamil Nadu.

There is a lot of potential for expanding trade between India and the Latin American and the Caribbean (LAC) region, riding on the strong 20-fold increase to US$39 billion in 2018 from US$2 billion in 2002.

The Cabinet has approved the ratification of the Multilateral Convention to Implement Tax Treaty Related Measures to Prevent Base Erosion and Profit Shifting (MLI), said the Finance Ministry on 12 June 2019.

India’s commercial real estate segment remained the most buoyant, with demand for Grade A office spaces increasing and vacancy levels declining across the top cities.

Minister of Petroleum & Natural Gas Dharmendra Pradhan has discussed energy issues on telephone with the US Secretary of Energy Rick Perry.

Bangalore, India’s technology capital, once again stands exempted from the Industrial Employment (Standing Orders) Act, 1946 (Standing Orders Act) - a labour law which requires employers to define and publish uniform conditions of employment in the form of ‘standing orders’.