Industry Sectors

The economic growth slowdown in India has started hitting hard the corporate world such as Shriram Transport Finance Co Ltd (STFC), the largest financier of vehicles which had its rating downgraded.

The representatives of Digital Economy, Fintech and Start-ups have called for incentives during their pre-budget meeting with Minister of Finance and Corporate Affairs Nirmala Sitharaman in Delhi on 16 Dec 2019.

Steel Minister Dharmendra Pradhan has called for a brave approach to innovation to boost growth in the Indian economy while learning from failures.

The Coal Ministry has decided to establish a ‘Sustainable Development Cell’ (SDC) to promote environmentally sustainable mining in the country and address environmental concerns during the decommissioning or closure of mines.

Projects worth Rs.7,700 crore, mostly sewage treatment plants, have been completed out of Rs.20,000 crore allocated for ensuring clean water flow into Ganga river.

The Competition Commission of India (CCI) has approved Sanaka Growth SPV I Limited investment in Edelweiss Securities Limited (ESL) under sub-section (1) of Section 31 of the Act.

The Competition Commission of India (CCI) has approved acquisition of shares in SBI General Insurance Company Ltd by Honey Wheat and Napean Opportunities LLP.

Results from policy reforms have started showing in the economy with Foreign Direct Investment (FDI) inflow of US$35 billion recorded in the first half of this year.

Domestic and global factors have led to the marginal 0.34% decline in November exports, noted FIEO President Sharad Kumar Saraf. November exports totalled US$25.98 billion.

Given the nature of slowdown, India is likely to witness a slow grind towards recovery, said Singapore’s banking group DBS in its “India Annual Outlook 2020” report on 13 Dec 2019.