India, 3rd Largest Economy by 2030 . . . . . time to invest in India

[Froggy]

Modi vows to make India world's No. 3 economy by 2030
Ruling party promises $1.4tn infrastructure push in election manifesto
YUJI KURONUMA, Nikkei staff writer April 08, 2019 18:00 JST

Indian Prime Minister Narendra Modi and chief of India's ruling Bharatiya Janata Party (BJP) Amit Shah, display copies of their party's election manifesto for the April/May general election in New Delhi. ©Reuters

NEW DELHI -- The party of Indian Prime Minister Narendra Modi on Monday pledged to pour 100 trillion rupees ($1.44 trillion) into infrastructure by 2024 and to turn the country into the world's third-largest economy by 2030 ahead of the country's upcoming general election.

But it is unclear how the ruling Bharatiya Janata Party intends to fund the ambitious plan, given that the Indian government only takes in about 27 trillion rupees a year. The party offered no breakdown of the investments, though they will likely include new roads, railways and power plants.

The BJP pledged to grow gross domestic product to $5 trillion by 2025 and to $10 trillion by 2032. It aims to make India's economy the third largest in the world by 2030, up from sixth now.


The manifesto includes targets already set by the Modi administration, such as doubling the country's 101 airports within five years and increasing nationwide renewable energy capacity to 175 gigawatts.

Other items are aimed squarely at the crucial rural vote. The BJP promised to double farmers' incomes -- a goal it set previously but remains far from achieving -- and provide interest-free agricultural loans.

Voters will go to the polls on one of seven designated dates between April 11 and May 19, depending on their district. Votes will be counted May 23.

 

[syed putra]

Papaddam will replace fries and potsto crisps.

 

[LordElrond]

MIGA !

 

[winnipegjets]

Modi talk big lah ...India can't even create enough jobs for its current population ...that's why SINKapore has to create jobs for a million and more of the Ah Nehs.

Modi should declare SINKapore a state of India.

 

[Hypocrite-The]

 

[syed putra]

Modi talk big lah ...India can't even create enough jobs for its current population ...that's why SINKapore has to create jobs for a million and more of the Ah Nehs.

Modi should declare SINKapore a state of India.

The name singspura confirm its status!

 

[laksaboy]

When your bridges and stadiums are collapsing in 2019, you probably aren't going to achieve much in a decade's time.

 

[syed putra]

Indonesia will be in the top ten soon.

 

[Leckmichamarsch]

T

Modi talk big lah ...India can't even create enough jobs for its current population ...that's why SINKapore has to create jobs for a million and more of the Ah Nehs.

Modi should declare SINKapore a state of India.

Op....based on cow dung generated

 

[shittypore]

Mdm Ho and all her Generals at GLC saw it coming years ago.

 

[no_faith]

Modi talk big lah ...India can't even create enough jobs for its current population ...that's why SINKapore has to create jobs for a million and more of the Ah Nehs.

Modi should declare SINKapore a state of India.

Ya lo he shd spend on education first educate his people stop breeding like no tomorrow, let them know how to say sorry, excuse me, thank you.

 

[Hypocrite-The]

Mdm Ho and all her Generals at GLC saw it coming years ago.

And till date the ah neh investments are not generating profits n I bet the losses are being covered up well. Most singkie companies have actually given up on ah neh land because there are just too much cheating, lying n backstabbing going on. I bet if singkie companies go into ah neh land n built a factory. Once the factory is built and equipped, the next day the ah neh partner will stripped out all the equipment n sell it for scrap n abscond with the money. Invest in ah neh land at your own peril

 

[Hypocrite-The]

CHALLENGES TO FOREIGN DIRECT INVESTMENT IN INDIA – BY Dr. BOBBY SRINIVASAN AND Dr. SUDHAKAR BALACHANDRAN
September 18, 2014 | Posted by bobbysrinivasan << back to blog
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The new Modi government is committed to improving the foreign direct investments in India, particularly in the areas of defense, insurance and infrastructure. The companies which are considering in investing in India will look at several parameters. Some of them are discussed here.

Ease of doing business in India. This is probably one of the biggest stumbling blocks India faces in attracting FDI. The bureaucracy, corruption, labour and land acquisition laws are frighteningly complicated and slows down the entire process of setting up a business. A country which is anxious to attract business should look to see how other countries are managing these issues and what steps they have taken to make it attractive for the foreign companies to set up their shops.
Taxation that is applicable to the corporate profits. The global tax landscape has seen considerable changes in the recent past and this will continue to be the same in the near term. In the context of India, the total amount of revenues collected thru the various taxes and duties falls extremely short of the requirements. For ex., in the last budget presented by FM Jaitley which states that for every 100rs our government spends, Rs.24 is borrowed money. This is already extremely high, so our government is not in a position to lower the corporate taxes as the revenue collected will make the deficit even higher. Each country uses a particular tax rate which depends upon a number of factors including the historical baggage it carries. In the current state of the economy large amounts of money is required for socio-economic development and subsidies, etc. Currently, our Indian corporate tax for a domestic companies stands at 33.99% when the net income exceed 10 crores. We are presenting a table of corporate tax rates for other countries for comparison.
Name of the country Tax rate
France 33%
Belgium 33.99%
Venezuela 34%
Argentina 35%
Zambia 35%
Japan 35.64%
US 40%
Brazil 34%
South Africa 28%
Hong Kong 16.5%
Singapore 17%
Australia 30%
Philippines 30%
China 25%
Malayasia 25%
Indonesia 25%
UK 21%
Canada 26.5%
Germany 29.58%
Italy 35.4%
Switzerland 17.92%
Taiwan 17%
Kuwait 15%
Ireland 12.5%
Bulgaria 10%
Qatar 10%


From this table, you can observe that India has one of the highest corporate tax rates.

Besides the taxes, corruption adds up significantly to the cost of doing business. It will not be far-fetched to say that 1-2% surrogate has been added due to corruption.
In the last few years, the land prices have shot through the roof. One estimate shows that the production costs in India is very much affected because of the land prices. The BJP government should ponder over this problem before they arrive at a reasonable tax rate for multinational companies. Things such as education cess and surcharge should be totally removed to lower the tax rate. Unfortunately for India the tax collected from individuals is limited since less than 3% of the population pay income tax at all. India continues to be a welfare state and most of the costs associated with welfare are borne through deficits. The budget deficit in India is a nightmare and the accumulated deficits (debt) are around 77% of the GDP.
When you want to attract foreign capital, we should make it attractive for them to earn an reasonable rate of return from their investments. If taxes take away bulk of their earnings, then the amount they can distribute to the share-holders gets much smaller. The foreign investment also faces currency value changes and this makes it even more difficult for foreign companies to set up shops in India. While in India, we clammer for FDI, we also find that we are being marginalized because of the not-so-friendly nature of doing business here. Its time our government recognizes this and takes necessary steps to attract more and more FDIs. Every year, nearly 1 crore people join in the job market and hoping to find something useful to do with their lives. If the business climate is not favourable to foreign companies, they have alternative places to go, which is only at the cost of India’s growth opportunities. Finally, the investors, no matter where they live in the world, will always prefer a higher rate of return for a given level of risk, the question to answer is whether India can deliver that.

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[Hypocrite-The]

Even ah neh m&d can Kenna con by ah neh ah neh... singkieland is basically fucked.

TOI

TOP NEWSVIDEOSELECTIONSOPEN IN APP
BUSINESS
Malaysian tycoon's $7 billion wipeout turns his India dream into nightmare
Bloomberg | Mar 2, 2018, 12:33 IST

BLOOMBERG
HIGHLIGHTS
Malaysian tycoon T Ananda Krishnan saw India's booming market as key to his empire's future.
But Krishnan's $7 billion bet on Aircel may instead go down as one of the biggest-ever flops by a foreign investor in India.
Aircel said on Wednesday it has filed for bankruptcy in view of mounting financial troubles.
NEW DELHI: It was supposed to be the crowning achievement of Malaysian tycoon T Ananda Krishnan's five-decade career.
But his $7 billion bet on mobile carrier Aircel Ltd may instead go down as one of the biggest-ever flops by a foreign investor in India, a stark reminder that doing business in the world's fastest-growing major economy is often a lot tougher than it looks.
Krishnan's holding company stands to lose all the money it poured into Aircel over the past 12 years, people with knowledge of the matter said, after the carrier filed to start bankruptcy proceedings this week. Buffeted by intense competition and regulatory uncertainty, Aircel is the latest in a long list of casualties in an Indian telecom market that only a few years ago was luring foreign entrants in droves.
While international companies have fared much better in India's buoyant consumer products and financial services industries, the turmoil in telecom is unlikely to help Prime Minister Narendra Modi's campaign to lure more foreign capital. In January, his government eased restrictions on foreign direct investment in several sectors, including single brand retail, real estate brokerages and power exchanges.
"India has always been a difficult market, even as it offers the prospects of great demographics and a billion-plus population," Sampath Reddy, chief investment officer at Pune-based Bajaj Allianz Life Insurance Co, said by phone. "The Aircel episode definitely has lessons in the offing for anyone who starts a business in the country."

Krishnan, 79, spent about $800 million to purchase Aircel in 2006, when less than 10 percent of India's 1.1 billion people owned a mobile phone and the scope for growth looked nearly limitless.
By that time, the Harvard Business School graduate had already established himself as one of Malaysia's most powerful billionaires, with controlling stakes in the country's biggest mobile-phone and pay-television operators and close ties to former Prime Minister Mahathir Mohamad.
India Allure
Faced with lackluster growth at home, Krishnan saw India's booming market as key to his empire's future. And he was willing to invest big to make Aircel a success.
Over the years, Maxis Communications Bhd, the holding company in which Krishnan owns a 45 percent stake, made about $3.4 billion of shareholder advances to Aircel, one of the people with knowledge of the matter said. Maxis Communications also bought $1.2 billion of common stock and subscribed to $1.6 billion of redeemable preference shares, the person said.
While he had deep pockets, Krishnan failed to anticipate how cutthroat India's telecom market would become. With nearly a dozen players jockeying for market share, call rates in the country plunged to some of the lowest levels worldwide. Competition has only intensified since 2016, when Reliance Jio Infocomm Ltd., owned by India's richest man, stormed into the market and offered free calls.
Aircel made a last-ditch effort to gain scale by attempting a merger with Reliance Communications Ltd. A setback came in January 2017, when India's highest court barred Aircel from selling or leasing its airwaves amid a broader graft lawsuit. The deal eventually collapsed in October last year.
The company summed up its dire situation in a Twitter post on Wednesday announcing the bankruptcy filing, saying Aircel had been "facing troubled times in a highly financially stressed industry, owing to intense competition following the disruptive entry of a new player, legal and regulatory challenges, high level of unsustainable debt and increased losses."
A representative for Maxis Communications declined to comment.
After Aircel, Krishnan is likely to spend more time focusing on his other businesses, which include Malaysian carrier Maxis Bhd. and pay-TV operator Astro Malaysia Holdings Bhd, the person with knowledge of the matter said. Both companies are still profitable, though their stock prices have dropped by an average 10 percent over the past year, versus a 9.6 percent gain in Malaysia's benchmark equity index, according to data compiled by Bloomberg.
That doesn't mean Krishnan is giving up on India entirely. He still controls a stake in South Asia FM Ltd, a radio broadcaster, and TV service provider Sun Direct. The businesses are performing well, and Krishnan currently has no plans to sell, the person said.
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TOP COMMENT

Negative attitude is not the solution of the problems. We have to find out the solution and for that we have to fight so that we can come out from the problems. There are the solution to make our country corruption free and that is totally controlled society where, even people wants to do corruption, he will do this, this is the solution and we have to fight to bring that type of society in India.

Dwijendra Kumar Debnath
READ ALL COMMENTS

 

[syed putra]

Ananda not only lost in india, but indonesia as well. Conned by lippo group. Lippo got usd250 mil free money they collected from subscribers but did not remit to ananda's astro.

This dispute arose out of a failed joint venture attempt between the Astro group (“Astro”) and the Lippo group (“Lippo”) to provide Pay TV services in Indonesia. While waiting for the deal to close, three companies from Astro (“P6 to P8”) provided interim pay TV services (“the Services”) to Lippo. US$250 million and 1 year later, both sides realised that the deal was not going to close. At arbitration, Astro claimed for the services provided by P6 to P8 which had not been paid for. Lippo claimed that the Services came free as part of an oral joint venture agreement. As P6 to P8 were not part of the Subscription and Shareholders Agreement (“the SSA”) signed between Astro and Lippo, an issue arose as to whether the arbitration clause in the SSA included P6 to P8 and the Services they provided.

 

[KuanTi01]

The name singspura confirm its status!

Don't just be so superficial! What's in a name? Singapura is part of the Malay Archipelago and the Riau island chain. We should instead of being declared a state of India, join either Malaysia or Indonesia.

 

[syed putra]

Don't just be so superficial! What's in a name? Singapura is part of the Malay Archipelago and the Riau island chain. We should instead of being declared a state of India, join either Malaysia or Indonesia.

Indonesia mean " indian islands".
Fact us, the entire south east asia is influenced by chola empire. Including thailand and cambodia.

 

[nightsafari]

Ananda not only lost in india, but indonesia as well. Conned by lippo group. Lippo got usd250 mil free money they collected from subscribers but did not remit to ananda's astro.

This dispute arose out of a failed joint venture attempt between the Astro group (“Astro”) and the Lippo group (“Lippo”) to provide Pay TV services in Indonesia. While waiting for the deal to close, three companies from Astro (“P6 to P8”) provided interim pay TV services (“the Services”) to Lippo. US$250 million and 1 year later, both sides realised that the deal was not going to close. At arbitration, Astro claimed for the services provided by P6 to P8 which had not been paid for. Lippo claimed that the Services came free as part of an oral joint venture agreement. As P6 to P8 were not part of the Subscription and Shareholders Agreement (“the SSA”) signed between Astro and Lippo, an issue arose as to whether the arbitration clause in the SSA included P6 to P8 and the Services they provided.

karma it's called.

 

[Rogue Trader]

Expect to hear more boasts from Ah neh politicians because it's general election time

 

[red amoeba]

try doing business with an Indian company....