Jim O’Neill, who coined the term BRICs to highlight emerging economic powerhouses Brazil, Russia, India and China, said India’s budget lacked a “wow” factor but was good enough to push the country on a path of 8 percent growth or more “for a long time”.
The former Goldman Sachs economist also said India was likely to replace Brazil as the second-largest BRICS economy (“S’ for South Africa, which was later added to the group) in the next couple of years and could become the world’s fifth-largest economy by the end of the decade.
The countdown has begun for the biggest business and economic event of the year – the release of India’s annual budget on February 28. Finance Minister Arun Jaitley is under pressure to unveil reforms that will put the country’s economy on a path of 7-8 percent growth over the next two years.
With the BSE Sensex gaining nearly 30 percent in 2014 and about 6 percent so far this year, investors are eagerly awaiting reforms in the budget, which is being billed as a “make-or-break” event for the government of Prime Minister Narendra Modi.
Nissan Motor Co Ltd hopes to boost its low-cost Datsun car brand in India with a new compact multi-purpose vehicle, or MPV, but the Japanese automaker might need to make inroads into smaller cities and the countryside if it wants to revive sales.
Last month, Datsun unveiled its second offering, a seven-seater, in a country where three generations often live under the same roof and spacious sports utility vehicles are pricier.
The BSE Sensex surged to a fourth straight life high on Wednesday, breaching the psychologically important 28,000 mark as banking shares continued their rally on hopes of a rate cut by the Reserve Bank of India (RBI).
The benchmark has now gained 31.86 percent in 2014.
But the bull run has not benefited all stocks. Twenty six Sensex components were away from their life highs on Wednesday with some power and metals stocks trading fairly lower than their all-time high levels.
It’s difficult to hold back your surprise when Naseeruddin Shah, one of India’s foremost art house actors, says the film industry doesn’t interest him greatly. In a career spanning almost four decades, Shah has worked with Dadasaheb Phalke Award-winning director Shyam Benegal and James Bond actor Sean Connery, won acclaim for his movie roles and continues to dabble in theatre.
But Shah wasn’t exactly a child prodigy. His grades were the poorest in class and his teachers thought he would “find it difficult to amount even to a small bag of beans,” he writes in his memoir “And Then One Day.”
Vikram Narula walked into an HMT showroom in Delhi’s central business district this week to get his hands on an iconic mechanical “Pilot” watch. But the watches were sold out.
Narula, a real estate agent, is an avid watch collector, and one among hundreds of HMT fans willing to pay a premium for timepieces made by a watchmaker that is on the verge of shutting down.
The BSE Sensex closed 1.2 percent higher in a week that was marked by two successive record highs for the benchmark.
Prime Minister Narendra Modi’s Independence Day speech and easing wholesale inflation boosted sentiment earlier in the week. Buying of Indian equities by foreign investors and a slide in Brent crude prices to near 14-months lows also helped.
The benchmark BSE Sensex rose 2.4 percent this week as domestic-oriented stocks surged on hopes the incoming BJP government would keep up its promises to kick start an economy whose growth has dipped to its slowest in a decade.
Shares in companies such as Coal India, that are expected to benefit from an economic revival, and utilities performed well.
Traditional Indian wear with the latest trends dominated the Wills Lifestyle India Fashion Week (WIFW) in New Delhi.
The Autumn/Winter 2014 edition showcased designers such as Tarun Tahiliani and Namrata Joshipira, with Rahul Mishra presenting a collection that won the Woolmark Prize in Milan in February.
Baldev Gulati loves to eat out. Friends and family often join him, but sometimes he likes to go on a date with himself. There’s one problem — Gulati is blind.
The 43-year-old businessman, sightless since birth, was tired of asking waiters and fellow diners to read restaurant menus out loud. Gulati’s food choices were restricted and he couldn’t experiment with cuisines. That’s when the thought struck him — why not get restaurants in Delhi to introduce menus in Braille?