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2016-04-22 ArtNo.45712
◆Jaitley tells G20 to avoid competitive devaluation
 【Washington】Pitching for more coordinated effort by G20 to boost global growth, Indian Finance Minister Arun Jaitley has said that countries must avoid trade protectionist measures and refrain from competitive devaluations of currency as greater focus must be on public investment. A good monsoon may help India's economy maintain the pace of growth seen in recent quarters, but it faces several downside risks, including from the weakness in global economy, Jaitley told a G20 meeting in Washington. He also said, "There could be 'stray' incidents of people on either side of the political spectrum making irresponsible statements but this could not be generalised as prevalence of a climate of intolerance in the country." ○India's growth spillover unlikely outside South Asia: IMF  【Washington】Even as India is now the fastest growing emerging economy in the world, its impact is unlikely to be felt beyond South Asia, senior IMF (International Monetary Fund) officials said on the 15th April 2016. But, at the same time, they warned of the adverse consequences of China's economic downtown. "Countries more exposed to consumption can be winners, while those more exposed to investment and manufacturing can lose in the near term. Through financial channels, China's spillovers are also on the rise, and much increased from the period before the global financial crisis," Changyong Rhee, director, Asia and Pacific Department, IMF said. China's slowdown also has affected global commodity demand, but here too the effect is heterogeneous, he noted. “Asia of course is impacted by the still weak global recovery, and by the ongoing and necessary rebalancing in China,” Rhee said. ○India fastest growing services economy: CII-KPMG report  【New Delhi】The Confederation of Indian Industries (CII)-KPMG report found that India’s services sector has been growing a 10 per cent per annum, making it the fastest in the world. Services sector in India contributed 61 per cent to the country’s gross domestic product (GDP), according to the report launched at the Global Exhibition on Services (GES) on the 20th April. “India’s share in global services exports was 3.2 per cent in 2014-15, double that of its merchandise exports in global merchandise exports at 1.7 per cent, placing India in the eighth place currently amongst the top ten exporters of service in the world,” the report said. The report expects that information technology-business process management (IT-BPM) industry, one of the largest employers in India with 3.7 million people, will touch $143 billion during the ongoing fiscal, rising from $132 billion – an 8.5 per cent growth. 【News source】 Jaitley tells G20 to avoid competitive devaluation Weaker global growth to hit Indian economy: FM Arun Jaitley No climate of intolerance in India: Jaitley India's growth spillover unlikely outside South Asia: IMF India is the fastest growing services economy: CII-KPMG report ○One world： The aim of SEAnews ◆Recruitment of Ad-SEAnews CanvassersYour Comments / UnsubscribeSEAnews MessengerSEAnewsFacebookSEAnewsGoogleSEAnews eBookstoreSEAnews eBookstore(GoogleJ)SEAnews world circulation |
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