Economy

India Inc. is optimistic on the prospects of economic growth in the next 12 months, supported by faster sectoral growth and export demand, according to a report.

India's economic growth is set to grow at 7.2% in 2018-19, supported by improvement in the agriculture and manufactring sectors, Central Statistics Office forecast on Monday.

Infrastructure at Myanmar’s Sittwe Port, constructed with India’s assistance, is ready to be operational, Minister of State for Shipping, Mansukh L. Mandaviya told Rajya Sabha on 7 Jan 2019.

India has started operating part of the Chabahar Port. The heads of Indian, Iranian and Afghanistan delegation jointly inaugurated the office of the Indian Special Purpose Vehicle (SPV), India Ports Global Chabahar Free Zone (IPGCFZ), at Chabahar.

An aviation summit, to be held 15-16 Jan 2019 in Mumbai, will provide understanding of how the technology-driven innovations will change the air travel in future.

India is to allow upstream operators Oil and Natural Gas Corp (ONGC) and Oil India Ltd to pick foreign expertise for enhancing exploitation of hydrocarbon resources.

The Government has sanctioned Rs.4,465.02 crore for the “Development of Gandhi Circuit: Bhitiharwa-Chandrahia-Turkaulia under Rural Circuit theme of Swadesh Darshan Scheme”.

The Government is planning to set up a Credit Guarantee Fund (CGF) for encouraging start-up companies and funding facilities in the country, parliament was told on 7 Jan 2019.

IDBI Bank is expected to meet the regulatory capital requirement following a capital infusion by Life Insurance Corp of India (LIC), said S&P Global Ratings.

India’s Oil and Natural Gas Corp (ONGC) has planned out a 200-developmental well programme for its onshore fields in Assam and responding to government’s target of 10% cut in crude oil imports by 2022.