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Economy
Fri, 20 Jun 2025
India has made a notable advancement in the global investment landscape by rising one rank to become the 15th most attractive destination for foreign direct investment (FDI) in 2024. This development was highlighted in the World Investment Report 2025 released by the United Nations Conference on Trade and Development (UNCTAD) on June 19. Despite a slight year-on-year dip in actual FDI inflows—from $28.1 billion in 2023 to $27.6 billion in 2024—India’s overall investment profile has improved due to significant progress in other key investment indicators. The upward movement in ranking underscores global investor confidence in India’s economic fundamentals, strategic reforms, and long-term growth potential. In 2023, India was placed 16th globally in terms of FDI inflows, but has managed to move up a spot in 2024 despite challenging global economic conditions, including geopolitical tensions, inflationary pressures, and tightened monetary policies in several developed economies. While the marginal decline in total FDI inflows may seem concerning in isolation, experts suggest it is offset by Indias strong performance in greenfield investment and international project finance—two critical indicators of future economic expansion and infrastructure development. The report also revealed that India climbed to the fourth position globally in terms of greenfield project announcements—a key measure of fresh capital expenditure that often leads to new factories, infrastructure, and job creation. In 2024, India saw the announcement of 1,080 greenfield projects across various sectors, including manufacturing, renewable energy, IT services, and logistics. This surge in new project announcements is being interpreted as a sign of robust investor sentiment and growing faith in India’s business environment, particularly as companies seek to diversify their global supply chains and reduce dependence on any single region. India’s standing in international project finance also saw a major boost. The country secured 97 international project finance deals in 2024, placing it among the top five countries in the world in this category. These deals, typically large-scale in nature, often involve infrastructure development, energy projects, and transportation networks. Analysts note that India’s focus on improving its infrastructure, through initiatives like the National Infrastructure Pipeline and the Gati Shakti program, has played a major role in attracting such strategic investments. The financing of projects at this scale not only supports economic development but also demonstrates the trust that global investors and multilateral agencies place in India’s long-term growth trajectory. In contrast, the United States maintained its dominant position as the world’s most attractive FDI destination. In 2024, the U.S. recorded an FDI inflow of $279 billion—up significantly from $233 billion in 2023. It also led the world in both greenfield project announcements and international project finance deals, far outpacing other economies, including India. American economic resilience, tech innovation, and deep capital markets continue to drive its strong performance in global investment rankings. Nevertheless, India’s consistent upward momentum in global FDI rankings, combined with its impressive numbers in greenfield projects and project finance, signals growing investor interest in the country’s structural reforms, demographic advantages, and policy stability. Experts believe that with continued focus on ease of doing business, digital infrastructure, regulatory simplification, and skill development, India is well-positioned to climb even higher in future investment rankings. As global supply chains evolve and investors seek new growth markets, India’s role as a preferred investment destination is likely to grow even more prominent. Disclaimer: This Image is taken from The Hawk.
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Russia on Verge of Recession, Says Economy Minister

Russia's economy is teetering on the edge of a recession, Economy Minister Maxim Reshetnikov warned on Thursday, as reported by Russian media outlets. The announcement was made during the St. Petersburg International Economic Forum, an annual event intended to showcase Russia’s economic strength and attract foreign investment.

Speaking at the forum, Reshetnikov stated that current data suggests a slowdown in economic activity. He emphasized, however, that these figures offer only a retrospective view. “Based on how businesses are currently feeling and key indicators, it seems to me that we are already on the brink of recession,” he said, according to Russian business publication RBC.

Despite facing extensive sanctions since Russia's military intervention in Ukraine began in February 2022, the economy has performed better than many analysts initially forecast. Strong defense spending has driven economic growth and kept unemployment levels low, even though it has contributed to inflation. At the same time, rising wages have helped workers maintain purchasing power, with some even seeing improvements in living standards.

Incentives like generous enlistment bonuses and compensation for soldiers killed in Ukraine have also funneled more money into economically disadvantaged regions. Still, economists caution that this military-driven economic momentum is unsustainable in the long run. A lack of foreign investment and persistent inflation pose serious risks to future stability, particularly as non-military sectors continue to see limited growth.

During the forum, Reshetnikov stressed that the country's future economic path depends heavily on government policy decisions. “It all depends on our decisions going forward,” he said.

In contrast, other top officials painted a more hopeful picture. Finance Minister Anton Siluanov acknowledged the economic "cooling" but compared it to a seasonal cycle, saying, “after any cooling, summer always comes.” Central Bank Governor Elvira Nabiullina also downplayed the concerns, suggesting the economy was simply “coming out of overheating,” rather than heading into a full-blown downturn.
Disclaimer:This image is taken from AFP.

Economy
Fri, 20 Jun 2025
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Author
Finance Minister to hold talks with GST and income tax officials to address on-ground challenges.

Finance Minister Nirmala Sitharaman is set to meet senior officials from the income tax, GST, and customs departments to evaluate their performance in key areas such as taxpayer services, litigation management, refund processing, and trade facilitation, according to official sources. On June 23, she will meet principal chief commissioners of the income tax department, focusing on improving service delivery, reducing legal disputes, and boosting system accountability. The review will include the backlog of appeals by age and efforts to speed up the resolution of old cases. The minister is also expected to address refund delays, particularly those caused by issues in processing returns under Section 143(1) and rectification cases affected by system glitches.

Concerns may also be raised about zones with long-pending vigilance cases and unresolved disciplinary matters. Sitharaman could highlight successful practices from some regions and emphasize the need for a tech-driven, transparent, and taxpayer-friendly approach across the department. On June 20, she will hold discussions with principal chief commissioners from the Central Board of Indirect Taxes and Customs (CBIC) to assess the performance of GST and customs field units.

She is expected to stress timely refund processing, especially for exports and SEZs. Refunds delayed beyond 60 days will be closely examined, and officials may need to explain the causes of delays and rejections with detailed data. The review will also cover cargo clearance times at ports and airports, with zone-wise data on clearances, inspections, and timelines under the risk management system.

High levels of pending investigations at the Directorate General of GST Intelligence (DGGI), especially those older than 180 days, are expected to be critically examined. The minister will likely underscore the importance of timely vigilance actions, clear accountability in physical verifications, and technology-driven process improvements, reflecting the government’s focus on both compliance and ease of trade.
Disclaimer: This image is taken from Business Standard.

Economy
Sat, 14 Jun 2025
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Author
India and Italy plan to strengthen their collaboration in aerospace, energy, mobility, and the automotive sectors.

India and Italy have agreed to boost cooperation in sectors including manufacturing, automotive, aerospace, energy transition, migration, and mobility, according to an official statement released Friday. These topics were discussed during meetings between India’s Commerce and Industry Minister Piyush Goyal and Italy’s Deputy Prime Minister and Foreign Minister Antonio Tajani in Brescia, known as Italy’s manufacturing hub.

The commerce ministry said both countries agreed to prioritize collaboration in key and emerging areas such as Industry 4.0, aerospace, energy transition, and sustainable mobility. They also emphasized joint efforts in skill development, digital transformation, migration, mobility, and global connectivity projects like the India-Middle East-Europe Economic Corridor (IMEC).

During the 22nd India-Italy Joint Commission for Economic Cooperation (JCEC) session, co-chaired by the two leaders, several tangible outcomes were reached. These include enhanced cooperation in agriculture and food processing, and the formation of Joint Working Groups for the automobile and space sectors. Both nations identified opportunities in sustainable agricultural value chains, agri-machinery, food packaging technology, and renewable energy. They also agreed to collaborate on green hydrogen and biofuels, and to facilitate the movement of skilled professionals between India and Italy.

A strong Indian business delegation of nearly 90 company leaders accompanied Minister Goyal on the visit. The group toured Italian industries, held multiple meetings with local firms, and Goyal engaged in one-on-one discussions with Italian corporate leaders, welcoming their plans to expand operations, manufacturing, or establish a presence in India.
Disclaimer: This image is taken from PTI.

Economy
Fri, 06 Jun 2025
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KM Birla stated that the strong sense of stability makes the US a favorable destination for investment.

Kumar Mangalam Birla, Chairperson of the Aditya Birla Group, expressed confidence in increasing investments in the United States during his interaction with ANI at the US-India Strategic Partnership Forum. He shared that the group has already invested around $15 billion in the US, making it the largest Indian investor in the country. Reflecting on their 16-year presence, Birla described the group's experience in the US as highly positive and expressed intentions to expand further.

Birla also pointed out Novelis' ongoing investment in a greenfield low-carbon aluminium recycling and rolling facility in Bay Minette, Alabama. The project aims to cater to the growing demand for aluminium-based beverage packaging and automotive solutions. He noted that this $4 billion project is the largest greenfield investment the group has ever undertaken globally.

Following remarks by US Secretary of Commerce Howard Lutnick, Birla acknowledged Lutnick’s optimistic view on the India-US partnership and its promising future. In a video shared on X, Lutnick mentioned his participation in the US-India Strategic Partnership Forum Annual Leadership Summit, highlighting the strong bilateral relationship and expressing hope for a forthcoming trade agreement that benefits both nations. Additionally, the US recently announced an expansion of its defense ties with India, emphasizing joint military exercises and strengthened cooperation through the QUAD and other multilateral platforms.
Disclaimer: This image is taken from ANI.

Economy
Tue, 03 Jun 2025
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CATL is preparing for a $5 billion Hong Kong listing and may offer shares at less than a 10 percent discount to its Shenzhen stock. Investors are urging for a larger discount, but pricing is not finalized. The listing could be Hong Kong’s biggest in years, supporting CATL’s expansion plans in Europe.
Disclaimer: This image is taken from Reuters.

Economy
Wed, 07 May 2025
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Karan Jaiswal
Timing Your Currency Exchange: When to Get the Best Foreign Exchange Rates

If the US dollar falls against the Singapore dollar, is it a good idea to buy it even if you’re not planning a trip to the US soon? And what are the risks if the exchange rate drops sharply? In this week’s episode of Money Talks, Khoon Goh, Head of Asia Research at ANZ, explains the fundamentals of currency exchange.

Disclaimer: This Podcast is taken from CNA.

Economy
Tue, 17 Jun 2025
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Arjun Devgan
Singapore's economy sees modest improvement despite global uncertainties.

Singapore’s economy expanded by 3.9% year-on-year in the first quarter, slightly surpassing expectations. However, this marks a slowdown from the 5% growth recorded in Q4 2024. The Ministry of Trade and Industry cautioned that the global economic outlook continues to be marked by considerable uncertainty. Lance Alexander and Daniel Martin discuss the developments further with Selena Ling, Chief Economist at OCBC.
Disclaimer: This Podcast is taken from CNA.

Economy
Thu, 22 May 2025
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Ray Bradbury
Money Talks: How Mediation Can Help Resolve Disputes with Banks and Insurers.
Customers often encounter disputes with financial institutions, such as having their bank accounts frozen due to fraudulent transactions or facing rejection of insurance claims. How can these issues be resolved effectively? Eunice Chua, the CEO of the Financial Industry Disputes Resolution Centre (FIDReC), explains to Andrea Heng how mediation can serve as a solution to these problems. Disclaimer: This Image is taken from Reuters.
Economy
Wed, 15 Jan 2025
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Rohan Iyer
Understanding Financial Abuse: Key Signs and How to Recognize It
In one of our standout episodes of the season, Chong Yue-En, a lawyer and the managing director of Bethel Chambers LLC, unpacks the intricate issue of financial abuse. What warning signs should you look out for, and what legal or non-legal steps can be taken to address and reduce its effects? Disclaimer: This podcast is taken from CNA.
Economy
Tue, 24 Dec 2024