India’s M&E industry continues to rack up impressive growth numbers, not only capturing the imagination of a billion Indians but also captivating global audiences. The M&E sector has entered an era of innovation and transformation as organisations seek to increase their relevance and appeal to both popular and more niche consumers. Traditional businesses – print, radio, broadcasting – are witnessing the greatest change with digital platform companies emerging as the primary disruptors. The biggest beneficiaries are the Indian consumers who have greater flexibility and choice in their M&E consumption, and have finally found their place at the centre of the entire ecosystem, as per an August 2019 study by KPMG.
During the year under review, the Ministry of External Affairs continued its pragmatic and outcome-oriented engagements, to enhance India’s security, uphold its territorial integrity, and, promoting and facilitating India’s economic transformation.
It is the intent and objective of the Government of India to attract and promote foreign direct investment in order to supplement domestic capital, technology, and skills, for accelerated economic growth. Foreign Direct Investment, as distinguished from portfolio investment, has the connotation of establishing a ‘lasting interest’ in an enterprise that is resident in an economy other than that of the investor.
India’s US$2.7-trillion economy, the fastest-growing major economy in the world, is estimated to have grown by 6.8 per cent during fiscal 2018-19 ending March 31. The nation had recorded an average gross domestic product (GDP) growth of 7.5 per cent over the past five fiscals.
The Union Minister for Finance and Corporate Affairs, Smt. Nirmala Sitharaman made her maiden Budget Speech on July 5 and presented the Union Budget 2019-20 before the Parliament.
10-point Vision for the decade
Prime Minister Shri Narendra Modi has laid down the vision of India becoming a US$5 trillion economy by 2025 and has inspired every citizen to contribute his or her bit to this worthy cause. In his words, “If every one of the 130 crore Indians takes one step forward, the country too will go that many steps ahead.” By laying out the strategic blueprint for fructifying this vision, the Survey extends its absolute commitment to a collective endeavour: 130 crore Indians creating an inclusive India by 2022 when we, as a nation, complete 75 years of Independence.
At the sectoral level, growth of agriculture, industry and services sectors is estimated to be 2.9 per cent, 6.9 per cent and 7.5 per cent, respectively, in 2018-19. During April 2019, the Index of Industrial Production (IIP) grew by 3.4 per cent, and by 3.6 per cent during 2018-19.
India’s US$2.6-trillion economy, the fastest-growing major economy in the world, is estimated to have grown by 6.8 per cent during fiscal 2018-19 ending March 31. Meanwhile, the revised gross domestic product (GDP) growth rates, released by the Central Statistics Office for the years 2015-16, 2016-17 and 2017-18, have been set at 8 per cent, 8.2 per cent and 7.2 per cent, respectively.
The Indian automotive industry is seeing a significant transformation with respect to its sustainable growth and profitability. The industry is crucial for the economy as it accounts for 7.1% of the country’s Gross Domestic Product (GDP) and as per Automotive Mission Plan (AMP) 2016–26, its contribution is projected to increase to 12%. India is expected to emerge as the world’s third-largest passenger vehicle market by 2021.
India’s US$2.6 trillion economy, the fastest growing major economy in the world, is estimated to have grown by 7 per cent during fiscal 2018-19 ending March 31, compared with a growth of 7.2 per cent over fiscal 2017-18.
India’s US$2.6-trillion economy is estimated to grow by 7 per cent during fiscal 2018-19 ending March 31, 2019, compared with a growth of 7.2 per cent in fiscal 2017-18. Meanwhile, the average Gross Domestic Product (GDP) growth in the last five years has topped 7.5 per cent defining a new normal for the Indian economy
Achieving inclusive growth has been one of the main priorities of the Government of India. The Government is implementing various programmes/schemes for creating better employment opportunities and improving the education and health status of all citizens for equitable and broad-based inclusive growth of the country. The “SAARC Social Charter India Country Report 2018” is the seventh country report which maps various programmes/schemes of Government of India targeted towards achieving the objectives of the SAARC Social Charter in the country.
The Government of India has announced a National Manufacturing Policy with the objective of enhancing the share of manufacturing in GDP to 25% within a decade and creating 100 million jobs. The National Investment & Manufacturing Zones (NIMZs) are an important instrumentality of the manufacturing policy. The NIMZs are envisaged as integrated industrial townships with state of the art infrastructure; land use on the basis of zoning; clean and energy-efficient technology; necessary social infrastructure; skill development facilities etc. to provide a productive environment for persons transitioning from the primary to the secondary and tertiary sectors.
India’s US$2.6-trillion economy is estimated to grow by 7 per cent in fiscal 2018-19 ending March 31 2019, compared with a growth of 7.2 per cent in fiscal 2017-18. Meanwhile, the growth of Gross Value Added (GVA) at constant basic prices for the year 2018-19 is estimated to be 6.8 per cent, as against GVA growth of 6.9 per cent for 2017-18.
India is increasingly a focal point for the fashion industry, reflecting a rapidly growing middle-class and increasingly powerful manufacturing sector. These, together with strong economic fundamentals and growing tech-savvy, make India too important for international brands to ignore, as per a joint study by McKinsey & Co and Business of Fashion (BoF)