Modi’s ‘Make in India’ campaign
Prime Minister Narendra Modi initiated ‘Make in India’ campaign on September 25, 2014 to encourage businesses from around the world to come, invest and manufacture in our country. The objective of the campaign is to create job opportunities for the youth,enhance national economy and provide the country with a global platform. PM’s ‘Make in India’ campaign has received support of various countries including France, US, Australia.
RBI chief Raghuram Rajan Opposes ‘Make in India’, Stresses on ‘Make for India’
Soon after Prime Minister Narendra Modi announced his ‘ Make in India’ campaign in his Independent Day speech, came a statement by RBI governor Raghuram Rajan who opposed PM’s ‘Make in India’ campaign and said instead of ‘Make in India’, ‘Make for India’ should be the slogan.
"There is a danger when we discuss 'Make in India' of assuming it means a focus on manufacturing, an attempt to follow the export-led growth path that China followed. I don't think such a specific focus is intended," Rajan said.
Top corporate personalities visited India
Personalities like Amazon CEO jeff Bezos, Facebook founder Mark Zukerberg and Microsoft CEO Satya Nadella visited India with different objectives.
Amazon CEO was here with motives of making further investments in Indian market. “We’ll work to better what Indians love most in shopping.” He said.
Facebook founder met Indian prime minister and proposed to work with the government in order to ensure better education and health care facilities.
Microsoft CEO met the PM and expressed his willingness to be a part of ‘Digital India’ and ‘Make in India’.
India occupies 3rd place in black money list.
India has been ranked 3rd on the list of black money. As per the estimates released by Global Financial Integrity( GFI), the cumulative illicit money moving out of India has risen to $439.59 billion( Rs 28 crore) over the ten years from 2003 to 2012. Russia tops the list with $122.86 billion, followed by China at the second place with $249.57 billion in terms of the amount of black money moving out of the country.
Along with pay hike, more women entered boards
The top executives of indian companies got 10-12% pay hike while the other companies which are growing, got hike of 20%. New rules were introduced in the year which helped making improvements in gender diversity. Therefore, about 500 listed companies appointed at least one woman director in their board.
E-commerce battle: Flipkart vs Amazon
A day after Flipkart announced that it raised $1 billion in a single round of funding, Rival Amazon made an announcement of investing $2 billion in the country. Flipkart and Amazon has been rivals of each other and therefore, Amazon has been spending on advertising and making various strategies like giving heavy discounts to the customers so as to become a threat to its biggest rival Flipkart.
India's health budget cut by almost 20%
The Indian government has cut health budget by 20% which has put the initiative to control major diseases at stake. Country’s public spending on health is already among the lowest in the entire world. Congress and other parties attacked the government for cutting the health budget and said that the government had again failed to fulfill its promises.
SpiceJet crisis
SpiceJet’s operation has been disrupted due to multiple cancellations of flights and delays by spiceJet as it has been facing shortage of funds. Thousands of passengers have been affected due to the unexpected crisis faced by SpiceJet. About five SpiceJet flights operating in and out of Ahmedabad were cancelled so far. Recently it has asked 50 pilots to leave without serving the notice period to cut costs.
Nokia shuts down India plant, people lose jobs
Nokia shut down its India plant in November which was in Chennai leaving thousands of people jobless in the country. About 8000 people lost their jobs, while 25000 were indirectly affected by this.
Guest list prepared for Vibrant Gujarat Summit
Vibrant Gurajat is the name of a summit held by the government of Gujarat which focuses on bringing together the business leaders, investors, policy makers and corporations.
According to the Industries minister of the state, the US India Business Council will be the official partner of the event. United State secretary of state John Kerry will lead a delegation of about 90 companies at the event. Apart from this, several CEOs of big corporates will attend the summit.