The long-pending free trade agreement with Australia is expected to be cleared with Indian Commerce and Industry Minister Suresh Prabhu's visit to the country on June 26. The two coutries are also expected to discuss ways to promote investments.
India is in a “good position” to deal with any fallout from global trade tensions and with right policies can reach an 8 percent-plus growth rate and hold it, according to a UN economist monitoring the country.
By all estimates, the Indian economy has entered a phase of recovery. After a period of subdued growth that was marred by a spate of disruptions, India has regained the fastest-growing major economy tag and a growth rate exceeding seven per cent is expected this year.
The International Monetary Fund (IMF) reaffirmed on Wednesday that India will be the fastest growing major economy in 2018, with a growth rate of 7.4 per cent that rises to 7.8 per cent in 2019 with medium-term prospects remaining positive.
The International Monetary Fund expects India's role in the Indo-Pacific region's development to continue to expand because of its robust growth, but it has to carry out more trade reforms, Ken Kang, the deputy director in IMF's Asia Pacific Department said on Friday.
Three new projects in U.S.-India State and Urban Initiative
The U.S.-India State and Urban Initiative, led by the CSIS Wadhwani Chair in U.S.-India Policy Studies and the CSIS Energy and National Security Program, has announced three new projects with the state government of Maharashtra