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Economy and Business

Stating that the “brutal trade imbalance” enjoyed by it over Bangladesh was unacceptable, India, on Monday, said in a bid to deepen the relationship and promote economic engagement, it would promote massive investments into Bangladesh for creating jobs and economic opportunities for the local population and make the country a major hub for exports into India and other parts of the world.

 

Company says government revenue trebled from airport, blames them for ADC fiasco.

 

India and China are likely to be main growth drivers among the BRIC nations and the growth gap between two Asian giants is expected to narrow down in the years ahead, a Credit Suisse report has said. According to the report, though the slowing growth rate of BRIC (Brazil, Russia, India and China)

 

India’s economy grew at an alarmingly slow 5.3% during the July-September quarter, putting the country on track for its worst financial year since the drought and dot com bust of 2002-03. Growth during the quarter was far lower than the corresponding period a year earlier and alsorepresented a slowdown from the April-June quarter. 

 

While the ultimate wish list is long, in essence, for any country, the basic objective of the government is to provide its citizens economic and social well-being in a secure, transparent and equitable environment. Unfortunately, over the last 65 years Pakistan' successive governments have failed to consistently fulfill these objectives, resulting in our country missing the economic prosperity which many other countries have been able to achieve.

 

In 2011, India was ranked 95th out of 178 countries in Transparency International’s Corruption Perception Index. The World Bank’s aid programmes in India are beset by corruption, bad administration and under-payments. As an example, the report cites that only 40 per cent of grain handed out for the poor reaches its intended target.

 

India will enter negotiations to further liberalise trade in goods, services and investment in Asia in the Cambodian capital Phnom Penh in the next two days that are expected to bring in significant economic benefits to the country. Two competing visions of regional economic integration would animate conversation at the ASEAN and East Asia summits which are taking place amid a faltering world economy, regional tension and great power manoeuvrings.

 

The Ministry of Finance has claimed that Pakistan will receive a record $14 billion in foreign remittances during ongoing financial year 2012-13 mainly because of the overseas Pakistan’s confidence in the economic policies of the incumbent government. An official of finance ministry told informed that surge in foreign remittances will go a long way to put the nascent economy of the country on path to firmness and growth.

 

India is likely to emerge as the second most competitive economy in the world after China in terms of manufacturing in the next five years, says a report. According to the 2013 Global Manufacturing Competitiveness Index compiled by Deloitte Touche Tohmatsu and the US Council on Competitiveness, five years from now, emerging economies would surge to occupy the top three spots.

 

A leading Bangladesh industry lobby will study the total volume of intra-regional trade being lost in the SAARC region due to the non-tariff barriers and give its recommendations on expected benefits once the hindrances are minimised. The report is scheduled to be published by March next year.

 


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