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INDIA...2018/08/15  · INDIA INDEPENDENCE DAY August 15, 2018 4 T he Mission in association with the Indian Cultural Centre observed the Pravasi-Bharatiya Divas 2018 (9th January)

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Page 1: INDIA...2018/08/15  · INDIA INDEPENDENCE DAY August 15, 2018 4 T he Mission in association with the Indian Cultural Centre observed the Pravasi-Bharatiya Divas 2018 (9th January)
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ACTING MANAGING EDITORMohammed Salim Mohamed

ADVERTISING MANAGERAli Wahba

SUPPLEMENT COORDINATORRenu Malhotra

COVER C R Sureshkumar

CHAIRMANSheikh Thani bin Abdullah Al Thani

EDITOR-IN-CHIEFDr. Khalid M Al-Shafi

DESIGNMohd Sajad Sahir

ADVERTISING CONTRIBUTORSMuhammad ShammasMoinuddin PashaRocel BautistaSP Singh

INDIAINDEPENDENCE DAYAugust 15, 2018

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P. Kumaran

AMBASSADOR’S MESSAGE

On this a u s p i -c i o u s occasion

of the 72nd Inde-pendence Day of India, I have the pleasure to convey my warm greetings and felicitations to all my fellow citizens residing in the State of Qatar. I

also avail this opportunity to express my heartfelt and sincere thanks and appreciation to the Amir of Qatar His Highness Sheikh Tamim bin Hamad Al Thani and the Government of the State of Qatar for their contin-ued support and cooperation and to the hospitality and patronage extended to the Indian community in Qa-tar. The multi-faceted bilateral relationship between India and Qatar continues to deepen further in various areas, including political, energy, trade & investment, cultural and defence spheres. We expect that 2019, as the India-Qatar Year of Culture, would be a year filled with memorable cultural events, in a manner that be-fits the longstanding cultural and people-to-people ties between our two countries.

2. Independence Day is an occasion for all Indians to pay our respects and honor the freedom fighters who contributed to the struggle for India’s independence, some of them making the supreme sacrifice towards this cause. Today, India takes pride in being the world’s largest democ-racy as a result of the strong foundation laid by our leaders who framed our constitution and built strong democratic institutions. On this occasion, I would also like to thank and congratulate the Indian community in Qatar for their continued good work, which has earned for them a well-deserved reputation in Qatar for their sincerity, hard work, technical expertise and law-abiding nature.

3. Independence Day is not just an occasion for us to celebrate our freedom, but also one for all of us to take stock of our achievements in these 71 years and to rededicate ourselves to the cause of the con-tinued development of our nation in the coming years. India has come a long way since its independence on 15 August 1947. We have achieved self-sufficiency in food production and today export various food grains to other countries. We are the largest producers of fresh fruits, milk and pulses. India is a recognised military power in the world today. The Indian Space Research Organization has been successful in developing a highly acclaimed, low-cost and efficient space program in the world. In economic terms, India continues to be the fastest-growing major economy in the world and is ex-pected to be one of the top three economic powers of the

world in the next 10-15 years. India holds the po-sition of the third largest startup ecosystem in the world and is expected to have 100,000 startups by 2025, worth US$ 500 billion, which will create employment for 3.25 million people. I invite the Indian community in Qatar to contribute to the success of various flagship and infrastructure development projects being undertaken by the Government of India, such as ‘Make in India’,

‘Clean India’, ‘Digital India’, ‘Skill India’, ‘Startup India’, ‘Stand Up India’, ‘Smart Cities’ and so on.

4. As the Ambassador of India to Qatar, my heart swells with pride when I hear from Qatari dignitaries about the valuable contribution made by the Indian community to the growth and development of Qa-tar over the years. Today, India’s fast-paced growth, technological achievements, business-friendly en-vironment, skilled workforce and a vast consumer market, offer Qatar a useful opportunity to contribute to India’s growth and development in the coming years. India looks forward to greater Qatari investments, with investments of more than US$ 1.5 trillion planned in the area of infrastructure over the next two decades, making it one of the most attractive markets for lead-ing investors. These factors are reflected in the Global Competitiveness Report for 2016-17 by the World Eco-nomic Forum, which ranks India as a best performer in South Asia for structural reforms undertaken in in-frastructure, financial market development, innovation and market size, among others.

5. India attaches great importance to its friendly relations with the State of Qatar. India is the third largest export destination for Qatar. Qatar is the largest supplier of LNG to India, accounting for 55% of India’s global LNG imports and 15% of Qatar’s total export of LNG. We look forward to enhanced cooperation in the energy sector, as India seeks to enhance the share of natural gas in its energy mix in the next decade.

6. India is a major exporter of food products to Qatar. India’s exports to Qatar witnessed an overall increase of 87% in 2017-18, compared to 2016-17. Indian companies operating in Qatar are pursuing mutually-beneficial collabo-rations in infrastructure, information and communication technology, energy and other areas in Qatar, contributing to Qatar’s preparation for the FIFA World Cup in 2022.

Official bilateral interactions continue at a regular pace to boost economic co-operation between the two countries. The Embassy of India, along with the Indian Business & Professionals Council (IBPC), organized the Qatar India Business and Investment Conference (QIBIC) in April 2018.

The Hon’ble Minister of State for External Affairs, Shri M J Akbar, along with his Qatari counterpart Minister of State for Foreign Affairs H E Sultan bin Saad Al Muraikhi, jointly inaugurated the Conference, which examined avenues for further cooperation across various sectors between Qatar and India.

7. India and Qatar consider people-to-people ties as a bedrock of great significance in further deepen-ing the bilateral ties between the two nations. We are happy to note that Qatar Tourism Authority (QTA) has opened a representative office in Mumbai to promote and encourage more tourism from India to Qatar. India is also a popular tourist and wellness destination amongst Qatari nationals, given the cultural compatibility and historical contacts between the two countries. We look forward to enhanced contacts and connectivity between our peoples in the coming years.

8. Defence ties between the two nations continue to prosper. The year 2017-18 saw a number of bilateral visits. ICGS Samarth visited Qatar in November 2017 for a joint passage exercise between Indian and Qatar Coast Guard ships. Indian Navy’s destroyer INS Kolkata visited Qatar on the occasion of the Doha International Maritime and Defence Exhibition (DIMDEX) organized by the Ministry of Defence, Qatar. The high level meetings between our delegations discussed various opportunities for cooperation, including for training, procurement and joint production of defence equipment in India.

9. The Indian Embassy remains committed to promot-ing the interests of the Indian community in Qatar. The Embassy shall continue its efforts to expand its outreach to various sections of the Indian community and remain in close contact with the authorities concerned in Qatar, to ensure the welfare and wellbeing of Indian nationals. On this 72nd Independence Day, I once again extend my warm greetings to fellow Indians in Qatar and thank them for their contribution to the growth and development of Qatar and India. I am hopeful that the Indian community will continue to extend its cooperation, as in the past, to the Embassy and partner with us in the delivery of various services to the needy sections of the community in an efficient and timely manner.

P. Kumaran Ambassador of India

Narendra Modi Prime Minister of India

Ram Nath KovindPresident of India

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The Mission in association with the Indian Cultural Centre observed the Pravasi-Bharatiya Divas 2018 (9th January).

Speaking at the event, Ambassador P. Ku-maran appreciated the Indian Community in Qatar for their hard work and commitment which was well acknowledged by the Qatari authorities and requested them to continue and strive for the better. He also requested the Indian community to support the flagship initiatives of Govt of India. A film on Pravasi Bharathiya Divas (PBD) was screened to-gether with remembrance of PBD 2017. The event was attended by over 200 members from the Indian Community including last year’s PBD delegates from Qatar.

Pravasi Bharatiya Divas EVENTS ORGANISED BY THE EMBASSY OF DOHA

National Voters’ Day

Ambassador P. Kumaran administered pledge to the Embassy officials (25th January), on the occasion of National Voters’ Day to create awareness among

citizens on the importance of voting in a democracy and to affirm our commitment to democratic values and methods.

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On the occasion of India’s 69th Republic Day, Ambas-sador P. Kumaran hoisted

the National Flag at the Embassy premises. After National Anthem by students from Indian schools in Qatar, the Ambassador read out the Hon’ble President of India’s address to the Nation. The programme also included patriotic songs by students of Indian schools, presentation of

gifts to all the partici-pants. The guests were served with refresh-ments. The Republic Day was celebrated amid great joy and en-thusiasm. About 1,000

Indians and friends of India in Qatar attended the celebration.

A reception was hosted by the Ambassador of India, to com-memorate the 69th Republic Day celebration on 28th January, 2018 at Sheraton Hotel, Doha.

The event was attended by the Minister of Administrative Devel-opment, Labour & Social Affairs, H E Dr. Essa bin Saad Al Jafali Al Nuaimi; Minister of Development Planning & Statistics, H E Dr. Saleh bin Mohammed Al Nabit; Chief of Protocol, Ibrahim Fakhroo; the Diplomatic Corps and over 600 members of the Indian commu-nity in Qatar.

Republic Day Celebrations

ANTI-TERRORISM DAY: Ambassador P Kumaran administered the official pledge to all Embassy officials on May 21, 2018 on the occasion of Anti-Terrorism Day.

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Bharat Utsav

Indian Cultural Centre (ICC), working under the aegis of Indian Embassy, held a cul-tural show titled ‘Bharat Utsav’ at the Qatar

National Convention Center, to highlight the cultural heritage of India. It featured about 350 expatriate artists. Ambassador was the chief guest on the occasion while Ambassadors of Bangladesh, Nepal and Sri Lanka were the guests of honour (13 April)

OPEN HOUSE: Ambassador P. Kumaran regularly holds monthly Open House to redress urgent labour and consular issues. World Environment Day

The World Environment Day was observed in Qatar with emphasis on the theme Plastic Pollution. The Mission in collaboration with Chaliyar - Doha, a community organisation and Indian schools

carried out a number of activities to sensitize community on the down-side of Plastic and develop consciousness to protect and safeguard the environment. Ambassador P. Kumaran planted saplings in the Embassy premises and in a follow-up program administered a pledge on ‘Beat Plastic Pollution’ to the gathering to sensitize them on environmental protection and ways to reduce plastic pollution. (5 June).

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Workshops and celebrations of 4th International Day of Yoga Yoga signifies addition of energy and beauty to body, mind and soul….

A Yoga Workshop was conducted at all the three campuses of Bhavan’s Public School, Doha by Embassy of India. Committed to

nurture and instill values in younger generation, the vibrant students were explained the impor-tance of daily yoga practice coupled with healthy & nutritious diet. More than 200 students partici-pated in the workshop.

The Embassy conducted Yoga workshops in various schools (Bhavan’s Public School, Pearl School, Olive International School, Birla Public School, Swiss International School) for promoting Yoga amongst the students. There is no better way than Yoga to inculcate healthy

habits for a healthy and disease free life..A workshop cum yoga demonstration was

also conducted in collaboration with the Em-bassy of Switzerland and Swiss International School in Doha during Swiss Trade Fair held on – 10 May, 2018.

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Recognizing that Yoga provides a holistic approach to health and well-being, Em-bassy of India, Doha celebrated IDY on

23 June, 2018held at Qatar Sports Club Multi-Purpose Indoor Hall in Qatar. H E Mohamed Ahamed Al Uthman, Director, Sports Affairs, Ministry of Culture & Sports, was the Chief Guest. He spoke of the multiple facets of Yoga, includ-ing the wellness attributed to it. The participants were instructed by three Indian Yoga trainers, who demonstrated the Common Yoga Proto-col and other popular Yoga asanas necessary for the fitness and well-being. The yoga trainers also performed artistic yoga, which was well ap-preciated by the diplomatic fraternity and other participants

Under the theme “Yoga for Health and well-ness”, the Embassy of India also organised Yoga camps & workshops in different parts of Qa-tar - Al Khor (22 June), Mesaieed (29 June) and Dukhan (30 June).

Samanvayam, affiliated to the Indian Cul-tural Center under the aegis of Embassy of India, Doha celebrated the 4th International Day of Yoga (21 June) at Al Jazeera Academy. About 200 yoga enthusiasts participated in the session. Ms. Shruthi Purushotam, 3rd Secre-tary (Information & Culture), Embassy of India graced the occasion as Chief Guest.

4th International Day of Yoga

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Ambassador P. Kumaran inaugurated the 33rd Free Medical Camp (9 March) organised by the Indian Community Be-

nevolent Forum (ICBF) working under the aegis of the Embassy of India in association with the Ministry of Public Health and Abeer Medical Center in Industrial Area. The camp provided free medical consultations to more than 350 workers from various labour camps and com-panies. Free cholesterol check-up was included for the first time in addition to monitoring of blood pressure, blood sugar and BMI.

Medical camps

A free medical camp was conducted at Medical Com-

mission premises in Abu Hamour by ICBF. In the camp, free medicines were given to the attendees. The camp was inaugurated by P. Kumaran in the pres-ence of Qatari officials and Indian community leaders (27 April).

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Indian Naval Ship INS Kolkata arrived in Qa-tar on 11th March to participate in the Doha International Maritime Defence Exhibition

and Conference (DIMDEX 2018, 12–14 March, 2018). The delegation led by Vice Admiral Girish Luthra PVSM, AVSM, VSM, ADC, Flag Officer Com-manding in Chief, Western Naval Command of the Indian Navy included Additional Director-General VSR Murthy PTM, TM, Additional Director-Gen-eral Indian Coast Guard and other senior officials. INS Kolkata is the second Indian ship to visit Qatar

in the last four months. Indian Coast Guard ship ‘Samarth’ had visited Hamad Port in November 2017 and participated in the first ever India-Qatar Joint Passage Exercise with the Qatari Coast Guard.

Ambassador and Adml. Girish Luthra to-gether hosted a reception for the dignitaries from Qatar Armed Forces, Ambassadors & dis-tinguished guests from the diplomatic corps and vibrant Indian community members onboard INS Kolkata. Special visit for schoolchildren was also arranged.

Visit of Indian Naval Ship India-Qatar

Ritu Kumaran in her capacity as Indian Women’s Association patron presented a cheque of QR5,000 to Indian Community Benevolent Forum (ICBF) (15 May, 2018).

Gujarati Samaj made a contribution of QR 4,100 to the Swachh Bharat Kosh. Hasmukhbhai Patel and other members of the Management Committee of Gujarati Samaj were appreciated for their efforts. (March 2).

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Deputy Prime Minister and Minister of State for Defence Affairs H E Khalid bin Mohamed Al Attiyah onboard Indian Naval Ship Kolkata during DIMDEX 2018.

Eng Saad Sherida Al Kaabi, President & CEO of Qatar Petroleum and the Chairman of Qatargas concluded a working visit to

New Delhi on March 21. During his visit, Al Kaabi held talks with

India’s Minister of Petroleum and Natural Gas, Dharmendra Pradhan, which focused on

bilateral cooperation and means to strength-en economic relations with Qatar in areas of energy.

Separately, the delegation led by Al Kaa-bi had meetings with the senior officials in the Indian Oil, GAIL, Petronet, and Reliance Industries.

Visit of Qatar Petroleum’s delegation to India

Gen. (Retd.) V K Singh, Minister of State for Exter-nal Affairs met with H E Dr. Ahmed bin Hassan Al Hammadi, Secretary-General, Ministry of Foreign Affairs, Qatar on 20 April 2018 in New Delhi.

T. S. Tirumurti, Secretary (ER), Ministry of External Affairs, India, met with H E Dr. Ahmed bin Hassan Al Ham-madi, Secretary

-General, Ministry of Foreign Affairs, Qatar on 20 April 2018 in New Delhi.

Chief of Staff of Qatari Armed Forces Lieutenant General (Pilot), HE Ghanim bin Shaheen Al Ghanim met Admiral Sunil Lanba, Chief of Staff of the Army and Commander of the Indian Navy and discussed bilateral relations in the defence and military fields (20 June).

Painting exhibitionIndia-Qatar

Bilateral meetings

Exhibition of paintings by Hassan Al Mulla, an artist from Katara Cultural Village, was held at the Indira Gandhi National Centre for Arts from 1-7 May 2018 and at Bengal Art Gallery, Rabindranath

Tagore Centre, Kolkata from 25-31 May 2018 as first step in a series of upcoming events for India-Qatar Year of Culture – 2019.

A delegation led by H E Dr. Ahmed bin Hassan Al Hammadi, Secretary-General, Ministry of Foreign Affairs, Qatar held meet-ings with Indian dignitaries from the Ministry of External Affairs on 20 April 2018 in New Delhi.

Major General (Pilot) Ghanim bin Shaheen Al Ghanim, Chief of Qatar Armed Forces calls on the CAS ACM BS Dhanoa, at Air Headquarters, New Delhi (20 June, 2018).

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Hon’ble Minister of State for External Af-fairs, M J Akbar paid a two-day official visit to Qatar. During his visit, Hon’ble

Minister had meetings with the Prime Minis-ter and Interior Minister, H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani and Minister of State for Foreign Affairs H E Sultan bin Saad Al Muraikhi and discussed bilateral relations and a number of regional and international issues of mutual interests. He also met member of the Qatari Businessmen Association and addressed the Qatar India Business and Investment Con-ference (15 - 16 April).

Visit of Kerala’s Labour and Excise Minister

An official delegation led by Kerala’s Labour and Excise Minister T P Ramakrishnan, visited Qatar from 27–29 June, 2018. The

delegation had meeting with Ministry of Public Health, Ministry of Labour and Indian businessmen in Qatar. A MoU was signed with Qatar’s Ministry of Public Health on manpower recruitment.

Visit of M J Akbar to Qatar

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Press conference

Doha Bank opens branch in Chennai

Qatar Tourism office in Mumbai

Eyeing a chunk of tourists from India, the world’s second largest outbound tourists market, the Qatar Tourism Authority (QTA)

opened an office in Mumbai (3 May, 2018).

A press conference was held at the Embassy premises to promote the launch of “INDIAN BUSINESSMEN DIRECTORY” by Indian Business and Professionals Council (IBPC) acting under the aegis of the Embassy.

The Ambassador met H E Director General of Public Security Staff Major General Saad bin Jassim Al Khulaifi and discussed a number of issues of mutual interest (14 May, 2018).

Ambassador P. Kumaran received the CSR ‘Responsible Leadership 2017’ award from the President of Qatar University H E Hassan Rashid Al Derham during a ceremony held at the Qatar University premises on March 26, 2018.

LEFT: Prime Minister and Interior Minister H E Sheikh Abdullah bin Nasser bin Khalifa Al Thani met the Ambassador of India to Qatar P. Kumaran on May 29. They reviewed relations between Qatar and India and ways of developing and strengthening them. CENTRE: The Ambassador met H E Dr. Mohammed bin Saleh Al Sada, Minister of Energy and Industry, Qatar on 18 January, 2018 and handed over an invitation from Dharmendra Pradhan, Minister of Petroleum and Natural Gas, India to participate in the 16th International Energy Forum in New Delhi from 10-12 April, 2018. RIGHT: P. Kumaran met H E Sheikh Abdulrahman bin Hamad Al Thani, CEO of Qatar Media Corporation, on 13 May, 2018 and discussed the media relations between the two countries and means of enhancing them.

IBPC signs agreement with TPCI

Indian Business & Professional Council, (IBPC), an apex organisation functioning under the aegis of the Embassy of India signed a Memorandum of Understanding with Trade Promotion Council of India (TPCI) on the sidelines of the successful mega food and beverage industry

trade show ‘Indus Food’ held in New Delhi (18 - 19 January). Ambassador P Kumaran described it as a major achievement for IBPC and added it as an important event. The MoU with TPCI pro-vides an excellent opportunity to both entities to participate in many business and commercial events in India and Qatar. Qatar-based Doha Bank commenced

operations in Chennai branch and is aiming at 10 percent credit growth,

supported by a stronger focus on the corpo-rate and retail segment. “The new branch will help the bank tap opportunities in the southern market even as it will offer NRI services, corporate and retail banking, SME financing, treasury services, trade finance, forex services and wealth management solu-tion. We expect to grow around 7-10%, higher than the market growth,” said R Seetharaman, CEO, Doha Bank. From Chennai, the bank can also support the south Indian commu-nity working in Qatar, he added. According to Seetharaman, the bank had relocated one of its two branches in Mumbai to Chennai, its third location after Mumbai and Kochi.

Ambassador’s meetings

Commercial

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Ambassadors X1 vs ISC X1 Cricket Match

Embassy of India was the run-ners-up at the Friendly Cricket match - Indian Ambassadors

X1 vs ISC X1 played between Embas-sy and Indian Sports Centre (ISC) on 27th April, 2018 at Old Ideal School ground.

Qatar National Sport Day

6th Asian Communities Football Tournament

India became runners-up in the 6th Asian Communities Football Tournament (ACFT) organised by the Qatar Football Association. The Asian Communities Football Tournament final match was played

between Lebanon and India in Al Arabi Stadium 30th March, 2018 which ended with 1- 1 fol-lowed by penalty shootout of 4 – 3. Total 12 Asian coun-tries participated in this year at the Asian Communities Football Tourna-ment, which started on January 11.

Inter-school Athletic Meet

Indian Sports Center (ISC), in association with Qatar Athletic Federa-tion, conducted the inter-school athletic meet 2018 on February 10 at Qatar Sports Club. More than 500 students from 10 different schools

participated in the event. Ambassador was the Chief Guest at the event. MES was the overall champion for the athletic meet with 284 points, Birla Public School was on 2nd position with 177 points and AKIS was on 3rd with 120 points.

2nd India Cup Golf Tournament

Rajesh Kamble, Counsellor (CA) won the 2nd position in the 2nd India Cup Golf Tournament held at the Doha Golf Club on 6 April, 2018. Thirty-six golfers partici-

pated in the event which was played on 2 different formats, strokeplay for low handicap golfers and scramble for high handicap golfers. Ambassador P. Kumaran, participated in the tournament and gave away the trophy to the Counsellor.

Sports

Indian Sports Centre conducted a host of sports events on National Sport Day for different age groups. The ISC’s NSD celebration included setting-up a stall displaying Indian sports personalities and memorable sporting events in India, and a sports quiz. The quiz was fol-

lowed by a yoga demonstration followed by a kabaddi game. A football tournament was held at Al Arabi Sports Club with 16 teams competing. Five ladies teams competed in a tug-of-war. A game of ball throw was held for boys, girls, men and women of different age groups. A tug-of-war was also held for men at Asian Town with 16 teams participating. Ambassador along with Second Secretary /Head of Chancery, K S Dhiman and Defence Attaché, Kapil Kaushik, handed over the prizes. The celebration concluded with a table tennis tournament organised by ISC and Qatar Table Tennis Association (QTTA) at the Qatar Table Tennis Training Centre.

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India’s economy grew at its fastest in seven quarters in the January-March pe-riod, bolstered by strong performance in construction, manufacturing and public

services, pointing to a persistent revival trend

and bringing cheer to the government ahead of next year’s general election.

The full FY18 growth estimate was revised upward to 6.7 percent from 6.6 percent in the second advance estimate released in February.

This is in line with the 6.75 percent growth forecast by the Economic Survey and down from 7.1 percent in FY17 with the slowdown being attributed to the lingering effect of demonetisation and the rollout of the goods and services tax (GST) in July last year.

Gross domestic product rose a better-than-ex-pected 7.7 percent in the fourth quarter, retaining India’s ranking as the world’s fastest-growing major economy, outpacing China by nearly a per-centage point. The economy grew at the highest rate since September quarter of FY17, ahead of the demonetisation drive that began November 2016. An ET poll of economists had pegged fourth-quar-ter growth at 7.1-7.5 percent . October-December FY18 growth was revised down to 7 percent from 7.2 percent estimated earlier. The economy grew 6.1 percent in the yearago March quarter.

“GDP growth has been increasing continuously every quarter with growth of 7.7 percent in Q4 of 2017-18,” Finance Minister Piyush Goyal tweeted.

“Shows that the economy is on the right track & set for even higher growth in the future.” Goyal is handling the portfolio while ArunJaitley recovers from a medical procedure. Growth measured in gross value added (GVA) terms rose 6.5 percent in FY18, slower than 7.1 percent in the previous fiscal. GVA growth in the fourth quarter was the fastest in seven quarters at 7.6 per cent.

China’s economy grew 6.8 per cent in the quar-ter ended March 31.

Finance secretary HasmukhAdhia tweeted that the government’s economic policies were bearing fruit. “The constant increasing trend of quarterly GDP numbers in the four quarters of 2017-18 at 5.6 per cent , 6.3 per cent , 7 per cent and 7.7 per cent indicates that the structural measures of reforms undertaken by government is now bringing rich dividends in the form of higher GDP growth rate,” he said on Twitter.

Growth in the agriculture, manufacturing and construction sectors stood at 4.5 percent , 9.1 per-cent and 11.5 percent , respectively, in the fourth quarter, with construction benefiting from a strong base effect of 3.9 percent negative growth in the year earlier period.

Trade, hotels, transportation, communication and services grew at 8 percent during the fiscal compared with 7.2 per cent growth in FY17. The pickup in credit offtake helped financial services grow 6.6 percent, faster than 6 percent growth in the previous year.

Public administration, defence and other services grew at 10 percent on an annual basis, marginally lower than 10.7 percent growth in the previous year.

Economists are optimistic about next year’s growth despite the threats posed by rising oil prices and bad loans. The Reserve Bank of India expects the economy to grow 7.4 percent this fiscal as does the International Monetary Fund.

India’s GDP grows 7.7% in Q4, retains fastest growing economy tag

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