Wait...

Online Export Import Data Search Search

Complete Training Video : Click Here

India in 2028: This is where we are heading; can you visualise?.


Date: 14-11-2017
Subject: India in 2028: This is where we are heading; can you visualise?
NEW DELHI: With rising financial maturity and emergence of a mass market riding demographic dividend, the Indian economy would soon chart its own course with service-led growth against an export-led China and become the third largest economy after the US and China by 2028. 

India will leave France and the UK behind by 2019 itself, Bank of America-Merrill Lynch said in a note. 

By 2027, the cheapest car could cost just as much as India’s average per capita annual income compared with 2.5 times per capita annual income today and 14.5 times in 2000. India will account for 40 per cent of the next billion consumers, said the report. 

By 2028, almost all farmers are expected to join the middle income group based on $2 per capita daily income on a purchasing power parity (PPP) basis and ownership of two acres of land, and a population almost equal to the size of entire Russia would be living in urban India, said the brokerage. 

It projected crude oil prices at $68 a barrel by then, while the rupee would not depreciate more than 3 per cent between now and 2028, it said. 

The global financial player expects the Modi regime to intensify reforms during the remaining period of its tenure. 

India’s growth will be driven by services, BofA-ML said, adding, India cannot replicate the export-led strategy of Asian tigers that was possible in a different world environment during the Cold War. 

It would be difficult for India to replicate South Korea’s export-driven industrialisation, as its dependence on oil imports implies India cannot depreciate its currency, it said. 

Globally, the services sector has expanded 10 per cent to almost 70 per cent of world GDP in last 20 years. The impact of India’s growth in global markets could be in the form of higher demand for commodities. India’s share in total world demand could rise from 4 per cent in 2007 to 6 per cent in 2022, it said. 

The brokerage noted that India’s financial extension has been backed by introduction of multiple financial products to promote financial efficiency and that unlike in developed markets where financial products evolve in the market, they are mostly introduced by regulators in emerging markets like India. 

“The government is trying to develop a project finance market by promoting development financial institutions and elongating tenure of bank deposits to enable long-term loans and developing a corporate bond market by increasing investment limits for foreign portfolio investors. The equity market has deepened with growth institutional intermediaries like mutual funds and FPIs in equities,” it said. 

The brokerage said the Indian economy may sustain its growth at 7 per cent (conservative estimate) till 2028, compared with 7.2 per cent in 2000-17, with dependency ratio falling to 46.2 per cent from 52.2 per cent now and 71.7 per cent in 1990. 

Rising rate of savings should push up investment rate to 35 per cent of GDP in 2028 from 32.4 per cent at present, it said. 

The government has introduced market makers to promote short-term instruments like CDs, CPs, and liberalised insurance and pension funds to introduce products at the longer end. 

Following the emergence of the F&O segment in equities, the latest focus is to promote derivatives in bonds and forex markets.

Source: economictimes.indiatimes.com

Get Sample Now

Which service(s) are you interested in?
 Export Data
 Import Data
 Both
 Buyers
 Suppliers
 Both
OR
 Exim Help
+


What is New?

Date: 17-11-2017
Notification No. 88/2017-Customs
Seeks to increase import tariff rate of soya beans from 30% to 45%.

Date: 17-11-2017
Notification No. 87/2017-Customs
Seeks to (1) Increase the BCD on crude palm oil of edible grade from 15% to 30%; and (2) Increase the BCD on refined palm oil of edible grade from 25% to 40%. (3) Increase the BCD on crude sunflower oil from 12.5% to 25%; (4) Increase the BCD on refined sunflower oil of edible grade from 20% to 35%; (5) Increase the BCD on crude soya bean oil from 17.5% to 30%; (6) Increase the BCD on refined soya bean oil from 20% to 35%; (7) Increase the BCD on crude rapeseed oil including canola oil (Low erucic acid rapeseed oil), mustard oil and colza oil from 12.5% to 25%; (8) Increase the BCD on refined rapeseed oil including canola Oil (Low erucic acid rapeseed oil), mustard oil, and colza oil from 20% to 35%;

Date: 16-11-2017
Notification No. 110/2017 - Customs (N.T.)
Exchange Rates Notification No.110/2017-Custom(NT) dated 16.11.2017

Date: 15-11-2017
Notification No. 109/2017 - Customs (N.T.)
Tariff Notification in respect of Fixation of Tariff Value of Edible Oils, Brass Scrap, Poppy Seeds, Areca Nut, Gold and Sliver- Reg

Date: 14-11-2017
Notification No. 108/2017 - Customs (N.T.)
Exchange Rates Notification No.108/2017-Custom(NT) dated 14.11.2017

Date: 14-11-2017
Notification No. 86/2017-Customs
Seeks to exempt import of goods specified goods when imported by eminent sportsperson.

Date: 14-11-2017
Notification No. 85/2017-Customs
seeks to amend notification No. 50/2017-Customs dated 28.06.2017, so as to :exempt life saving drugs supplied free of cost; and exempt IGST on goods imported on lease.

Date: 09-11-2017
Notification No. 107/2017 - Customs (N.T.)
Exchange Rates Notification No.107/2017-Custom(NT) dated 09.11.2017

Date: 08-11-2017
Notification No. 106/2017 - Customs (N.T.)
Exchange Rates Notification No.106/2017-Custom(NT) dated 8.11.2017

Date: 08-11-2017
Notification No. 84/2017-Customs
seek to (i) increase rate of basic customs duty on Peas, (Pisum sativum) from present Nil rate to 50%. (ii) increase rate of basic customs duty on wheat from 10% to 20%.



Exim Guru Copyright © 1999-2017 Exim Guru. All Rights Reserved.
The information presented on the site is believed to be accurate. However, InfodriveIndia takes no legal responsibilities for the validity of the information.
Please read our Terms of Use and Privacy Policy before you use this Export Import Data Directory.

EximGuru.com

C/o Infodrive India
E-2, 3rd Floor, Kalkaji Main Road
New Delhi - 110019, India
Phone : 011 - 40703001