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Economic Newsletter : September 2018

Economic

 Focus Issues  High Impact News
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Indian economy to overtake UK, Germany, France and Japan in the next decade
India will be the fastest growing big economy of the next decade, leapfrogging the UK, Germany, France and ­Japan to become the third biggest in the world, according to new forecasts by HSBC.
 
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Indian grant for cold storage warehouse in Dambulla
India will provide a grant to build a 5000-metric ton temperature controlled warehouse in Dambulla. The warehouse will help farmers in Sri Lanka minimize post-harvest losses, which are presently at around 40% in Sri Lanka.
 
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Make it large- Growth of Indian pharma industry
Indian pharma industry which supplies over 50% of global demand for vaccines and over 20 % of global demand for generic drugs is expanding overseas with major mergers and acquisitions.
 
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India to provide passenger coaches to Sri Lankan Railway
India will supply 160 railway passenger coaches to Sri Lanka valued at around 82 million USD under a currently operational 318 million USD Line of Credit for Sri Lanka for upgradation of the railway sector.
 
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India’s new telecom policy backs net neutrality, aims to attract USD 100 billion in investment
India’ new telecom policy – the National Digital Communications Policy 2018 -- aims to draw a whopping $100 billion of investments into the telecom industry by 2022, boost the sector's contribution to 8% of GDP besides backing the principles of net neutrality.
 
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1990 Emergency ambulance service expands to Northern Central Province
The 1990 Suwaseriya Emergency Ambulance Service was launched in Anuradhapura and Polonnaruwa districts in the North Central Province (NCP). By December all nine provinces will be covered with 297 ambulances and pre hospital care emergency services to every person in Sri Lanka will be guaranteed.
 
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Indian Miracle State pointing the way to Global Sustainability
Within India, the state of Andhra Pradesh has been a growth miracle. It has been able to sustain a double digit inclusive growth rate of around 12% over the past decade, and has consistently ranked as the top state for ease of doing business. Andhra Pradesh’s government is aiming for it to become a developed state by 2029 and the best investment destination in the world by 2050
 
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High Commissioner hands over houses to beneficiaries in Battiacloa
High Commissioner of India Taranjit Singh Sandhu dedicated houses built under the Indian Housing Project in to beneficiaries in the Batticaloa District. Government of India has committed 4,000 houses in the Eastern Province. This is in addition to 42,000 houses built under grants in the North and 14,000 being built in the upcountry.
 
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