India most attractive investment destination: Survey

November 24, 2013

Investment_destinationNew Delhi, Nov 24: With relaxation in FDI norms to boost investor sentiments, India has emerged as the most attractive investment destination surpassing neighbouring China and the US, says a report.

The global survey of leading consultancy firm Ernst and Young (EY) has ranked India as the most attractive investment destination followed by Brazil and China at second and third positions, respectively.

While Canada has cornered fourth spot, the US is placed at fifth position. Other nations in the top ten are South Africa (6), Vietnam (7), Myanmar (8), Mexico (9) and Indonesia (10).

"With sharp currency depreciation and opening up of FDI in various sectors, India has become an attractive destination for foreign investors," EY, earlier known as Ernst & Young, said.

In August, the government announced relaxation in Foreign Direct Investment (FDI) norms in many sectors, including multi-brand retail and telecom.

According to the global consultancy firm, due to the present macro-economic pressures and heavy debt pile, several Indian companies are looking to divest non-core businesses.

"This has created a large opportunity for foreign players vying for a greater role in the Indian market," it added.

When it comes to investments, the US, France and Japan have emerged as "top three investors likely to invest in India".

The findings are a part of EY's latest Capital Confidence Barometer report, based on a survey of about 1,600 senior executives from large companies across 70 countries. It aims to gauge corporate confidence in the economic outlook and understand boardroom priorities, among others.

With respect to India, sectors with the highest level of anticipated deal-making include automotive, technology, life sciences and consumer products.

About 38 per cent of the respondents felt that M&A volumes in India are expected to improve over the next 12 months.

"Indian companies also reflect a concerted focus on job creation as well as optimising operations to deliver cost reduction," the report said.

Amit Khandelwal, who is National Leader & Partner (Transaction Advisory Services) at EY, said the investor outlook for India remains positive, despite the challenges the country's economy has faced in the recent past.

On the other hand, the report said that Indian corporate entities have started looking at developed markets for making acquisitions.

"After two years, European countries (UK and Germany) have made a comeback on the potential investment destinations list for Indian companies," it added.

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News Network
April 11,2020

New Delhi, Apr 11: Congress leader Rahul Gandhi on hailed accredited social health activists, auxiliary nurse and midwives and anganwadi workers for their role in the fight against the coronavirus pandemic, saying they are "true patriots" who toil to keep communities safe in the midst of this grave crisis.

In an environment where fear and misinformation pose a bigger danger than the virus itself, community workers have a key role to play in educating people about the dangers of COVID-19 and the manner in which it is transmitted, Gandhi said.

In a message for Accredited Social Health Activists (ASHA), Auxiliary Nurse and Midwives (ANMs) and Anganwadi Workers, he said they are working with dedication and courage, putting their lives at risk, on the frontlines of the battle against the COVID-19 pandemic.

"The greatest form of patriotism is to serve our country in her hour of need. Our community workers are true patriots, our unsung heroes, who toil tirelessly away from the limelight, to keep our communities safe in the midst of this grave crisis," the former Congress chief said.

"As a nation, we owe them and their families a huge debt of gratitude for the tremendous personal sacrifices each of them is making. I hope that when this crisis is over their exemplary service will serve as a catalyst for deep-rooted change in their conditions of work," he said.

Gandhi said he salutes each and every community worker for their service to the nation and prays that they and their families will remain safe during this pandemic.

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News Network
March 7,2020

New Delhi, Mar 7: No country in the world says everybody is welcome, External Affairs Minister S Jaishankar said on Saturday, hitting out at those criticising India over the Citizenship (Amendment) Act.

Jaishankar criticised the United Nations Human Rights Council (UNHRC) for its criticism on the situation in Jammu and Kashmir, saying its director had been wrong previously too and one should look at the UN body's past record on handling the Kashmir issue.

"We have tried to reduce the number of stateless people through this legislation. That should be appreciated," he said when asked about the CAA at the ET Global Business Summit. "We have done it in a way that we do not create a bigger problem for ourselves."

"Everybody, when they look at citizenship, have a context and has a criterion. Show me a country in the world which says everybody in the world is welcome. Nobody says that," the minister said.

The external affairs minister said moving out of the Regional Comprehensive Economic Partnership (RCEP) was in the interest of India's business.

Asked about the UNHRC director not agreeing with India on the Kashmir issue, Jaishankar said: "UNHRC director has been wrong before.

"UNHRC skirts around cross-border terrorism as if it has nothing to do with country next door. Please understand where they are coming from; look at UNHRC's record how they handled Kashmir issue in past," he added.

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March 3,2020

Wayanad, Mar 3: Anguished over the alleged delay in receiving flood relief from the Kerala government, a 42-year-old man committed suicide in Wayanad district, police said on Tuesday. Sanal Kumar, a native of Thrikaipatta in Meppadi near here was found hanging inside the temporary shelter built by his friends and local people on Monday. He was among the hundreds who had lost their homes in the August 2019 floods.

His home, built on a three cent plot, had been damaged partially in 2018 floods and completely in the 2019 deluge. Family members of the deceased alleged that it was due undue delay on the part of the authorities in allotting funds for rebuilding his house that drove Kumar to take the extreme step. Kumar was hoping to get a house under the Life Mission project, sources said.

A relative said Kumar had only 3 cent of land and had lot of debts. Even the Rs 10,000 assistance promised by the state government for the flood affected, had not reached him. Since the past two years he had filed several applications for assistance and apporached many revenue authroties for the promised government assistance, but it never came, the locals alleged.

According to K K Sahad, president of Meppadi Panchayat the deceased had some other financial issues and it was not the delay in rehabilitation that made him commit suicide. "It is true that he was not included in the first list of beneficiaries under the LIFE project as he had to have "pattayam" (land records) for his land.

However, he was included in the second list, thanks to the dilution in the norms that possession was enough for those who had no 'pattayam' for their property. The amount of Rs 4 lakhs was sanctioned for him, but was delayed a bit due to some technical issues."

Wayanad MLA C K Saseendran described it as an "extremely sad" development. As Kumar had some difficulties in producing the land recrods, the authroties had been unable to include his name in the LIFE housing scheme in the first phase.

The matter has been brought before the notice of the revenue authorities, he said. Vythiri Tahsildar, Abdul Hameed, visited Kumar's relatives this morning as the family members of the deceased wanted his presence before the body was taken for post-mortem.

"There was some technical issues with regard to the land as it falls within the adhivasi reserve. But they were occupying it for long. However, the issue has been sorted out and that his family members would be getting the eligibility amount of four lakhs," Hameed said.

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