NEWSLETTER – CONSULATE GENERAL OF INDIA, PERTH 1

Indian Economy:

India Again Ahead of China, US with $62.3

Billion FDI Inflows In 2016

India retained its numero uno position as (rpt) as

the world's top most greenfield FDI investment

destination for the second consecutive year,

attracting $62.3 billion in 2016, says a report. India

has remained ahead of China and the US as far as

FDI inflows were concerned in the last year, said

the FDI Report 2017 compiled by FDI Intelligence, a

division of The Financial Times.

Read More:

http://bwdisrupt.businessworld.in/article/India-

Again-Ahead-Of-China-US-with-62-3-Billion-FDI-

Inflows-In-2016/26-05-2017-118958/

India’s economy to grow 7.5% in FY 2017, 7.7% in

FY 18: Moody's

Moody’s Investors Service said Indian economy

will grow by 7.5 in fiscal year 2017. It will grow by

7.7% in 2018 and will reach 8% in 3-4 years. Growth

in China is expected to be muted at 6.6%.

Read More:

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

business/indias-economy-to-grow-7-5-in-fy-2017-7-

7-in-fy-18-moodys/articleshow/58921929.cms

Consulate General of India

Perth

INDIA

BULLETIN NEWSLETTER

MAY 2017

NEWSLETTER – CONSULATE GENERAL OF INDIA, PERTH 2

India Inc ready for July 1 GST roll-out: CEO poll

Captains of Indian industry across sectors say they

are ready for a July 1 roll-out of the “game-

changing” goods and services tax (GST).

The GST would help the economy pick up pace,

bring down the inflation rate, and boost the

fortunes of corporate India, a nationwide poll of

top chief executive officers (CEOs) revealed. A

survey of 34 CEOs conducted across India after

the GST Council agreed on the rates for various

goods and services in Srinagar, found that 88 per

cent of corporate executives were prepared for a

July 1 roll-out.

Read More:

http://www.business-

standard.com/article/economy-policy/india-inc-

ready-for-july-1-gst-roll-out-ceo-poll-

117052200079_1.html

Crisil says Narendra Modi's steps to benefit

growth over medium term

The initiatives taken by the Government of India,

led by Mr Narendra Modi, Prime Minister of India,

are expected to enable India to attain faster and

sustainable growth over the medium term,

according to a report by rating agency, Crisil.

India's gross domestic product (GDP) has increased

to over 7 per cent, thereby making India the

world's fastest-growing major economy.

Read More:

https://www.ibef.org/news/crisil-says-narendra-

modis-steps-to-benefit-growth-over-medium-term

India is the largest producer of Milk in the World:

Singh

The Agriculture Minister said India is number one

in milk production in the world. In the year 2015-

16, the growth rate of milk production has been

6.28 per cent due to which total production has

reached 156 million tonnes. And now, per person

milk availability is 337 grams on an average, while

on the world level it is 229 grams.

Read More:

http://timesofindia.indiatimes.com/good-

governance/centre/india-is-the-largest-producer-of-

milk-in-the-world-

singh/articleshow/58889841.cms?

India set for record food grain output

India is set to see the highest foodgrain

production this crop year, according to the

government’s third advanced estimate released.

Boosted by normal southwest monsoon a first in

two years foodgrain production in the 2016-17 crop

year, which ends in June, would be 273.4 million

tonnes, almost nine per cent more than that of the

previous year.

Read More:

http://www.business-

standard.com/article/economy-policy/india-set-for-

record-foodgrain-output-117051000083_1.html

NEWSLETTER – CONSULATE GENERAL OF INDIA, PERTH 3

India jumps 73 spots to 26 rank in World

Bank’s electricity accessibility list

India moved up 73 spots to rank 26th in the World

Bank's list of electricity accessibility in 2017 from

the 99th position in 2014, stated Mr Piyush Goyal,

Minister of State (Independent Charge) for Power,

Coal, Renewable Energy and Mines, Government

of India. The government has electrified 13,000

villages so far out of the total 18,452 villages and is

targeting electrification of all villages by 2019,

within 1,000 days.

Read More:

https://www.ibef.org/news/india-jumps-73-spots-

to-26-rank-in-world-banks-electricity-accessibility-

list

Investments:

SoftBank readies for India 3.0

Read More:

http://www.business-

standard.com/article/specials/softbank-readies-for-

india-3-0-117052500042_1.html

Indian M&As rise 23% in value

Mergers and acquisitions (M&As) involving Indian

companies during January-March stood at 252

deals with a total disclosed value of $15.8 billion

compared to last year's $12.8 billion.

Read More:

http://www.business-

standard.com/article/companies/indian-m-a-deals-

rose-by-23-in-value-to-15-8-billion-in-q1-of-2017-

117052301153_1.html

DP World to invest $1 bn in Indian logistics sector

The UAE-based DP World has committed $1 billion

investment in Indian infrastructure, including

logistics and container terminals.

Read More:

http://www.business-

standard.com/article/companies/dp-world-to-

invest-1-billion-in-indian-logistics-sector-

117050401135_1.html

NEWSLETTER – CONSULATE GENERAL OF INDIA, PERTH 4

India is the biggest growth driver for Essilor, says

CEO Hubert Sagnières

Essilor International CEO Hubert Sagnières says

the firm has revenue of €7 billion which will double

to €14 billion post-merger with Luxottica. In India,

the combined entity will have 15-20% market share

in the Rs22,674 crore (as of 2016) eyewear market.

Read More:

http://www.livemint.com/Companies/Mjcz3XUKOj

QY725uuwhC0N/India-is-the-biggest-growth-

driver-for-Essilor-says-CEO-Hub.html

Infrastructure:

World's highest rail bridge taller than Eiffel

Tower on Chenab to be completed in two years

In around two years from now, the Chenab river in

Jammu and Kashmir will be spanned by the

world's highest railway bridge that is expected to

be 35 metres taller than the Eiffel Tower. The

massive arch-shaped structure, being constructed

at a cost of around Rs 1,100 crore in hostile terrain,

will use over 24,000 tonnes of steel and will rise 359

m above the river bed. Designed to withstand wind

speeds of upto 260 km per hour, the 1.315 km long

"engineering marvel". Designed to withstand wind

speeds of upto 260 km per hour, the 1.315 km long

"engineering marvel" will connect Bakkal (Katra)

and Kauri (Srinagar). The bridge forms a crucial

link in the 111-km stretch between Katra and

Banihal, which is part of the Udhampur- Srinagar-

Baramulla rail link project

Read More:

http://economictimes.indiatimes.com/industry/trans

portation/railways/worlds-highest-rail-bridge-taller-than-eiffel-tower-in-jk-to-be-completed-in-two-

years/articleshow/58491446.cms

PM Modi inaugurates Dhola-Sadiya bridge,

India’s longest road bridge over the Brahmaputra

Prime Minister Narendra Modi inaugurated Dhola-

Sadiya bridge, the country’s longest bridge, in the

North-East region. PM Modi said, “This is one of

the most important infrastructure projects in our

nation.” Estimated to have cost around 10,000

crores, the 9.15-km-long bridge will shave off the

travel time between Assam and Arunachal Pradesh

from six hours to just one hour, reducing the

distance by 165 kms.

Read More:

http://indianexpress.com/article/india/pm-modi-

inaugurates-countrys-longest-bridge-in-assam-

4674285/

NEWSLETTER – CONSULATE GENERAL OF INDIA, PERTH 5

Trade:

India's Foreign Trade: April 2017

EXPORTS (including re-exports):

Exports during April 2017 have shown growth of

19.77 per cent in dollar terms valued at US$

24635.09 million as compared to US$ 20568.85

million during April 2016.

IMPORTS

Imports during April 2017 were valued at US$

37884.28 million (Rs. 244380.52crore) which was

49.07 per cent higher in Dollar terms and 44.67 per

cent higher in Rupee terms over the level of

imports valued at US$ 25413.72 million (Rs.

168923.71 crore) in April 2016.

Read More:

http://pib.nic.in/newsite/PrintRelease.aspx?relid=16

1802

India now the second largest stainless-steel

producer after China, surpasses Japan: Report

Overtaking Japan, India emerged as the second

largest stainless-steel producer in the world after

China, according to data released by the

International Stainless-Steel Forum (ISSF). India's

stainless-steel production rose to 3.32 million

tonnes for 2016, showing an impressive growth of

about 9 percent over three million tonnes achieved

in 2015.

Read More:

https://www.ibef.org/news/india-on-right-path-to-

becoming-global-steel-player-steel-association

India sets US$ 45 billion textiles exports target for

FY18

The government of India targets textile and

garment sector exports at US$ 45 billion for 2017-

18. The export of textiles and garments stood at

US$ 40 billion in 2015-16 on the back of low

demand from major markets like the US, UK, and

China, in addition to stiff competition from

Vietnam and Bangladesh

Read More:

https://www.ibef.org/news/india-sets-us-45-billion-

textiles-exports-target-for-fy18

GST to help improve India's exports: Sitharaman

As per Ms Nirmala Sitharaman, Ministry of

Commerce and Industry, Government of India,

GST is expected to boost Indian exports following

fitment discussions in the GST council and the

treatment of commodities and services. India's total

exports bounced back with a 4.95 per cent growth

in 2016-17, in spite of services having a negative

growth. The GST council on May 19, 2017

announced the fitment of services and GST rates for

1,211 goods as it headed towards July 1, 2017

rollout.

Read More:

https://www.ibef.org/news/gst-to-help-improve-

indias-exports-sitharaman

NEWSLETTER – CONSULATE GENERAL OF INDIA, PERTH 6

Renewable Energy:

India ranks second on EY renewables list

India has been placed in the second spot in the

renewable energy country attractiveness index by

EY. The UK accountancy firm noted the fast pace

of growth in Indian renewable energy in the past

three years. Over 10 gigawatt (Gw) of solar power

was added between 2015 and 2017 and wind

energy capacity grew to 5.4 Gw in 2017-18.

Read More:

http://www.business-

standard.com/article/economy-policy/india-ranks-

second-in-ey-renewables-list-117051600823_1.html

India to be third largest solar market in 2017:

report

With 8.8 gigawatt (GW) of capacity addition

projected for the year ahead, India is set to become

the third biggest solar market globally in 2017,

overtaking Japan, according to the India Solar

Handbook 2017 released by Bridge to India (BTI).

The report by BTI, a consulting firm in India’s clean

technology market, said solar capacity in the

country is expected to touch 18.7GW by the end of

2017, which is about 5% of global solar capacity.

Read More:

http://www.livemint.com/Industry/9U7aHwYKlhm

QGASjSqiavN/India-to-be-third-largest-solar-

market-in-2017-report.html

Cheaper solar sparks change in energy use

Solar power becoming cheaper than its coal-based

alternative for the first time in the country seems to

have sparked an energy transformation, according

to an analysis by the Institute for Energy

Economics and Financial Analysis (IEEFA). For the

first time, solar is cheaper than coal in India and the

implications this has for transforming global

energy markets is profound,” said Tim Buckley,

director of Energy Finance Studies, Australasia, at

IEEFA.

Read More:

http://www.business-

standard.com/article/economy-policy/cheaper-

solar-sparks-change-in-energy-use-

117052500077_1.html

Automobile:

Maruti aims to sell 3,00,000 automatic cars

annually by 2020

India's largest car manufacturer, Maruti Suzuki

India, is targeting to sell around 150,000 units of

vehicles equipped with automated gear shift (AGS)

technology by end of FY 2017-18, and touch 300,000

units mark by 2020, from the current levels of

94,000 units per annum.

Read More:

https://www.ibef.org/news/maruti-aims-to-sell-3-

lakh-automatic-cars-annually-by-2020

NEWSLETTER – CONSULATE GENERAL OF INDIA, PERTH 7

Hero Future India’s first fleet of 200 electric

vehicles launched in Nagpur

Hero Future Energies Pvt. Ltd, plans to enter the

battery storage business and set up charging

stations to tap India’s emerging electric vehicles

(EV) market.

Read More:

http://www.livemint.com/Industry/2k3Fldo3gIAtiF

czpEYA5N/Hero-Future-Energies-to-set-up-solar-

charging-stations-for-e.html

Energies to set up solar charging stations for

electric vehicles

In a bid to boost the GoI’s electric vehicle push,

India’s first ever multi-model electric vehicle

project was launched at Nagpur, said an official

release by the Ministry of Road Transport and

Highways. The project was launched by the

Minister of Road Transport & Highways and

Shipping. It also said that e-autos, e-rickshaws, e-

buses and e-cabs will be brought under a single

platform through this unique project. The

commuters will be enabled to book them through

an app of the Indian online transportation

major, Ola.

Read More:

http://www.indiainfoline.com/article/news-top-

story/electric-vehicles-india%E2%80%99s-first-

fleet-of-200-electric-vehicles-launched-in-nagpur-

117052700602_1.html

Volvo to start assembling cars in India by year-

end

Swedish luxury car company Volvo Auto India Pvt.

Ltd said it will commence local assembly

operations in India by the end of this year as it

seeks to make deeper inroads and double its share

in the country’s small but fast expanding luxury car

market that is expected to advance at a fast clip on

the back of strong economic growth, better

sentiments and the impending goods and services

tax (GST).

Read More:

http://www.livemint.com/Companies/8wfTh5OEo

mIdR87PdmhBKN/Volvo-to-start-assembling-cars-

in-India-by-yearend.html

Cars, two wheelers drive automobile growth to

7%

Domestic passenger vehicle sales surged 14.68 per

cent last month helped by strong growth of market

leader Maruti Suzuki and others like

Toyota, Honda and Tata Motors. According to data

released by the Society of Indian Automobile

Manufacturers (SIAM), Vehicle sales across

categories registered an increase of 6.82 per cent to

20,30,476 from 19,00,848 units in April 2016.

Read More:

http://www.business-

standard.com/article/companies/cars-two-

wheelers-drive-automobile-growth-to-6-8-

117050901570_1.html

NEWSLETTER – CONSULATE GENERAL OF INDIA, PERTH 8

Technology:

Made in India iPhones to hit stores this month

Buyers of Apple iPhone SE could soon find a

“Made in India” tag on their devices. Taiwanese

contact manufacturer Wistron would be making it

at their plant in Bengaluru.

Read More:

http://www.business-

standard.com/article/technology/made-in-india-

iphones-to-hit-stores-this-month-

117051701291_1.html

Geographic information system driving digital

transformation in India

Geographic information system is playing a huge

role in initiatives such as Digital India and Smart

Cities Mission. The Digital India initiative is under

way with 22 projects on digital infrastructure and

on-demand government services. The Smart Cities

Mission aims to transform more than 100 cities to

become more citizen-friendly and sustainable.

Read More:

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

BZ2CZlWxEOJ/Geographic-information-system-

driving-digital-transformation.html

Xiaomi opens its first India store in Bengaluru

Chinese smartphone giant Xiaomi has opened its

first offline store 'Mi Home' in India as it looks to

reach out to more offline customers and double its

revenue to $2 billion in the current fiscal. Xiaomi

recently became the second largest smartphone

vendor in terms of sales in India, the fastest

growing smartphone market in the world.

Read More:

http://www.business-

standard.com/article/companies/xiaomi-opens-

first-offline-store-in-bengaluru-plans-100-in-two-

years-117051101055_1.html

Facebook brings Express WiFi to India, partners

with Airtel for 700 hotspots

Called Express WiFi, the new programme, which is

a follow up of the banned Free Basics platform, ties

up with entrepreneurs to help them set up public

WiFi hotspots and helping them provide internet to

a lot of citizens in poor or no connectivity areas --

the “intent” behind Free Basics platform.

Read More:

http://www.hindustantimes.com/tech/facebook-

dials-india-with-700-express-wifi-hotspots-

partners-with-airtel-to-bring-20-000-more/story-

TFmlJ2UpUgweBDcfoaRY8H.html

NEWSLETTER – CONSULATE GENERAL OF INDIA, PERTH 9

Amul inks MoU with ISRO for fodder acreage

estimation

Gujarat Cooperative Milk Marketing Federation

(GCMMF) has signed an agreement

with ISRO for fodder acreage assessment using

satellite observation and space technology.

Read More:

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

business/amul-inks-mou-with-isro-for-fodder-

acreage-estimation/articleshow/58912093.cms

Space:

GSLV to launch US-India NISAR EO Satellite

The Indian Space Research Organisation (ISRO)

and the National Aeronautics and Space

Administration (Nasa) will jointly put a $1.5 billion

satellite into orbit in 2021 using GSLV, a rocket for

which the US slapped sanctions on India. Weighing

2,200 kilogram, the NASA-ISRO Synthetic Aperture

Radar (abbreviated as NISAR) is the world's most

expensive earth imaging satellite.

Read More:

http://www.spacedaily.com/reports/GSLV_Rocket_

to_Launch_Nasa_ISROs_NISAR_Satellite_999.html

Tourism:

Foreign Exchange Earnings through Tourism in

India in April 2017

FEEs in US$ terms during the month of April 2017

were US$ 2.278 billion as compared to FEEs of US$

1.726 billion during the month of April 2016 and

US$ 1.609 billion in April 2015. The growth rate in

FEEs in US$ terms in April 2017 over April 2016

was 32.0% compared to a positive growth of 7.3%

in April 2016 over April 2015.

Read More:

http://pib.nic.in/newsite/PrintRelease.aspx?relid=16

2000

Rank of India Improves in International Tourist

Arrivals

India’s rank in the Travel & Tourism

Competitiveness Index (TTCI), 2017 had shown 12

places jump from 2015. Rank of India in TTCI

Report of 2017 was 40th as compared to 52nd in 2015,

65th in 2013 and 68th in 2011.

Read More:

http://www.travelworldonline.in/travel-news-

detail.aspx?news=Rank-India-International-

Tourist-Arrivals-UNWTO

NEWSLETTER – CONSULATE GENERAL OF INDIA, PERTH 10

Upcoming Visits and Events

Indian Navy Ship to visit Perth for AUSINDEX 17

Three Ships of Eastern Fleet of Indian Navy, INS Shivalik, INS Jyoti and INS Kamorta will visit Fremantle port

as part of India-Australia maritime exercise AUSINDEX 17 from 13 - 17 June 2017. The exercise will be second

bilateral naval exercise between the two countries.

NEWSLETTER – CONSULATE GENERAL OF INDIA, PERTH 11

3rd International Day of Yoga

FOR OTHER YOGA EVENTS HAPPENING AROUND WA: http://idywa.com.au/events-detail/

NEWSLETTER – CONSULATE GENERAL OF INDIA, PERTH 12

India@Mindil - Darwin

I am Ravana!

Presented by: Saraswati Mahavidhyalaya

Date: 07 - 10 July 2017

Venue: State Theatre Centre of WA

For Tickets: http://premier.ticketek.com.au/shows/show.aspx?sh=IAMRAVAN17

NEWSLETTER – CONSULATE GENERAL OF INDIA, PERTH 13

Upcoming Trade Fairs in India