India’s economy is booming. Now comes the hard part

Overall inequality also appears to have grown, according to Credit Suisse’s Global Wealth Report, which said the 2018 Gini coefficient for wealth in India rose to 0.854 from 0.83 in 2017 and 0.804 in 2011. The closer a country’s Gini value gets to 1.0, the more unequally distributed is its economy. But the analysis also shows that unlike most countries which started with high inequality, inequality in India has continued to rise,” Oxfam said. “In the context of the acceleration of growth rate of


Overall inequality also appears to have grown, according to Credit Suisse’s Global Wealth Report, which said the 2018 Gini coefficient for wealth in India rose to 0.854 from 0.83 in 2017 and 0.804 in 2011. The closer a country’s Gini value gets to 1.0, the more unequally distributed is its economy. But the analysis also shows that unlike most countries which started with high inequality, inequality in India has continued to rise,” Oxfam said. “In the context of the acceleration of growth rate of
India’s economy is booming. Now comes the hard part Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: harini v, adnan abidi, mohd zakir, hindustan times, getty images
Keywords: news, cnbc, companies, rise, economy, political, indian, wealth, india, hard, inequality, comes, report, gini, sabka, booming, indias, oxfam


India's economy is booming. Now comes the hard part

A 2018 report from international nonprofit Oxfam looked at different assessments from before and after Modi’s administration to conclude that more and more of the country’s income is going “to the top 10% and top 1% of the population.”

Overall inequality also appears to have grown, according to Credit Suisse’s Global Wealth Report, which said the 2018 Gini coefficient for wealth in India rose to 0.854 from 0.83 in 2017 and 0.804 in 2011. The closer a country’s Gini value gets to 1.0, the more unequally distributed is its economy.

“On most indicators, India is now among the countries with the highest level of inequality. But the analysis also shows that unlike most countries which started with high inequality, inequality in India has continued to rise,” Oxfam said. “In the context of the acceleration of growth rate of Indian economy, the rise in inequality raises issues of the distribution of gains from the growth.”

Oxfam separately reported that its online surveys showed 73 percent of respondents in India said “the gap between the rich and the poor needs to be addressed urgently or very urgently.”

Jayati Ghosh, professor at the Centre for Economic Studies and Planning at Jawaharlal Nehru University, blamed longstanding inequality in the country on a lack of political will and inefficient domestic policies: “Inequality is a political choice. The hold of the elites and powerful lobbies over government policy is very strong,” she said.

Modi, meanwhile, campaigned in 2014 on the slogan “Sabka Saath, Sabka Vikas,” which translates in English to “together with all, development for all.”

His party manifesto from that election year included some ambitious goals for improving the standard of living for all Indians by creating jobs, increasing profits for farmers, eradicating corruption, curbing inflation and more.

Since coming to power, Modi has taken public steps toward keeping some of those promises — and he’s made some new ones along the way — while others have seen fewer headlines. Here’s how experts think the Indian leader has fared so far.


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: harini v, adnan abidi, mohd zakir, hindustan times, getty images
Keywords: news, cnbc, companies, rise, economy, political, indian, wealth, india, hard, inequality, comes, report, gini, sabka, booming, indias, oxfam


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Indian Prime Minister Narendra Modi sees Facebook as an inspiration for his vision

India’s prime minister has shown that inspiration can come from all directions: Narendra Modi says he looks to the likes of Facebook and Twitter as an inspiration for his own goals. Modi said the success of such platforms have set the bar for the speed and extent to which technology can change people’s lives. “We have to believe that development and empowerment can spread with this same speed at which Facebook, Twitter or mobile phones have spread across the world,” Modi said at the Singapore Fi


India’s prime minister has shown that inspiration can come from all directions: Narendra Modi says he looks to the likes of Facebook and Twitter as an inspiration for his own goals. Modi said the success of such platforms have set the bar for the speed and extent to which technology can change people’s lives. “We have to believe that development and empowerment can spread with this same speed at which Facebook, Twitter or mobile phones have spread across the world,” Modi said at the Singapore Fi
Indian Prime Minister Narendra Modi sees Facebook as an inspiration for his vision Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: karen gilchrist, bloomberg, getty images
Keywords: news, cnbc, companies, fintech, minister, speed, financial, world, narendra, sees, country, indian, accounts, india, technology, facebook, prime, modi, bank, inspiration, vision


Indian Prime Minister Narendra Modi sees Facebook as an inspiration for his vision

India’s prime minister has shown that inspiration can come from all directions: Narendra Modi says he looks to the likes of Facebook and Twitter as an inspiration for his own goals.

Modi said the success of such platforms have set the bar for the speed and extent to which technology can change people’s lives. He now wants to replicate that success in his plans for India.

“We have to believe that development and empowerment can spread with this same speed at which Facebook, Twitter or mobile phones have spread across the world,” Modi said at the Singapore FinTech Festival Wednesday.

The Indian leader has long been a vocal advocate of technology, employing it in unique and innovative ways at various stages of his political career. During campaigning, he used holograms to galvanize support across the vast country, and he’s frequently pushed for greater technological connectivity for Indian cities.

But it was only when Modi came to power in 2014 that he was able to start rolling out his primary vision for India: Using financial technology — or fintech — to give citizens greater access to bank accounts, credit and other financial freedoms.

“That vision is rapidly changing into a reality,” said the 68-year-old.

Just four years ago, less than 15 percent of India’s 1.35 billion citizens had bank accounts. Today, the country has more than 1 billion bank accounts. That’s due in part to the near-universal roll out of a digital biometric identification scheme in India.

“With the power of fintech, and the reach of digital connectivity, we have started a revolution of historic speed and scale,” said Modi.

Modi said that revolution was largely thanks to the millions of young entrepreneurs in his country whose work to increase financial inclusion had, he said, created an “explosion” of innovation and turned India into a “leading start-up nation.”

But he also urged more to get involved and find new ways to use financial technology to change the fortunes of billions of people’s lives, both in India and beyond.

“What we dream for India is what we also wish for the world,” said Modi. “This is a common journey for all.”

“Each era is defined by its opportunities and challenges, each generation has the responsibility to shape the future,” he continued. “At no time in history were we faced with so many possibilities to make opportunity and prosperity a reality in the lifetime of billions.”

Don’t miss: Jack Ma was inspired to create Alibaba by Malaysia’s Prime Minister Mahathir Mohamad

Like this story? Subscribe to CNBC Make It on YouTube!


Company: cnbc, Activity: cnbc, Date: 2018-11-15  Authors: karen gilchrist, bloomberg, getty images
Keywords: news, cnbc, companies, fintech, minister, speed, financial, world, narendra, sees, country, indian, accounts, india, technology, facebook, prime, modi, bank, inspiration, vision


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Journey Through India: Delhi

Journey Through India: Delhi22 Hours AgoIn the last stop on his journey through India, CNBC’s Tom Chitty explores Delhi. Located in northern India, it’s one of the oldest cities in the world and has a bigger population than Australia.


Journey Through India: Delhi22 Hours AgoIn the last stop on his journey through India, CNBC’s Tom Chitty explores Delhi. Located in northern India, it’s one of the oldest cities in the world and has a bigger population than Australia.
Journey Through India: Delhi Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-15
Keywords: news, cnbc, companies, delhi, india, tom, stop, population, northern, journey, located, hours, world, oldest


Journey Through India: Delhi

Journey Through India: Delhi

22 Hours Ago

In the last stop on his journey through India, CNBC’s Tom Chitty explores Delhi. Located in northern India, it’s one of the oldest cities in the world and has a bigger population than Australia.


Company: cnbc, Activity: cnbc, Date: 2018-11-15
Keywords: news, cnbc, companies, delhi, india, tom, stop, population, northern, journey, located, hours, world, oldest


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

India prime minister says financial tech needs to be a ‘movement’ — not a ‘mechanism’

Indian Prime Minister Narendra Modi said on Wednesday that the development of financial technology, or fintech, should be a movement that can improve the lives of the world’s most marginalized people. The Indian prime minister, along with Singapore Deputy Prime Minister Tharman Shanmugaratnam, formally launched on online marketplace that will connect technology start-ups and financial institutions in Asia and beyond. The platform — known as APIX, or API Exchange — was first announced in Septembe


Indian Prime Minister Narendra Modi said on Wednesday that the development of financial technology, or fintech, should be a movement that can improve the lives of the world’s most marginalized people. The Indian prime minister, along with Singapore Deputy Prime Minister Tharman Shanmugaratnam, formally launched on online marketplace that will connect technology start-ups and financial institutions in Asia and beyond. The platform — known as APIX, or API Exchange — was first announced in Septembe
India prime minister says financial tech needs to be a ‘movement’ — not a ‘mechanism’ Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: saheli roy choudhury, suhaimi abdullah, getty images
Keywords: news, cnbc, companies, mechanism, prime, lives, needs, financial, fintech, technologies, singapore, modi, minister, india, internet, technology, movement, tech


India prime minister says financial tech needs to be a 'movement' — not a 'mechanism'

Indian Prime Minister Narendra Modi said on Wednesday that the development of financial technology, or fintech, should be a movement that can improve the lives of the world’s most marginalized people.

“We are in an age of a historic transition brought about by technology: From desktop to cloud, from internet to social media, from IT services to internet of things, we have come a long way in a short time,” Modi said at the Singapore FinTech Festival on Wednesday morning.

Modi, who is in Singapore for the East Asian Summit and to meet leaders of the Association of Southeast Asian Nations, said history has shown that the financial industry is often the first to embrace new technologies and connectivity.

“There is daily disruption in businesses, the character of the global economy is changing — Technology is defining competitiveness and power in the world and it is creating boundless opportunities to transform lives,” he said.

The Indian prime minister, along with Singapore Deputy Prime Minister Tharman Shanmugaratnam, formally launched on online marketplace that will connect technology start-ups and financial institutions in Asia and beyond. The platform — known as APIX, or API Exchange — was first announced in September.

One of its aims will be to drive financial inclusion across Asia Pacific, and to create a regulated space for financial institutions and fintech firms to collaborate and experiment on new technologies. It will be developed and operated by a global consortium led by technology company Virtusa.


Company: cnbc, Activity: cnbc, Date: 2018-11-14  Authors: saheli roy choudhury, suhaimi abdullah, getty images
Keywords: news, cnbc, companies, mechanism, prime, lives, needs, financial, fintech, technologies, singapore, modi, minister, india, internet, technology, movement, tech


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

OPEC expects global energy demand to skyrocket through 2040, thanks to India and China

Global energy demand is set to skyrocket over the next two decades, OPEC said in its latest annual outlook, with India and China the most important contributors to this growth. In the influential oil cartel’s 2018 World Oil Outlook (WOO), the group said it expects total primary energy demand to surge around 33 percent from 2015 levels. Driven almost entirely by developing countries — most notably India and China — demand is expected to increase at an average annual growth rate of nearly 2 percen


Global energy demand is set to skyrocket over the next two decades, OPEC said in its latest annual outlook, with India and China the most important contributors to this growth. In the influential oil cartel’s 2018 World Oil Outlook (WOO), the group said it expects total primary energy demand to surge around 33 percent from 2015 levels. Driven almost entirely by developing countries — most notably India and China — demand is expected to increase at an average annual growth rate of nearly 2 percen
OPEC expects global energy demand to skyrocket through 2040, thanks to India and China Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: sam meredith, vcg, getty images, omar marques, sopa images, lightrocket
Keywords: news, cnbc, companies, countries, global, world, 2040, energy, bpd, thanks, opec, skyrocket, oil, demand, china, million, outlook, india, expects


OPEC expects global energy demand to skyrocket through 2040, thanks to India and China

Global energy demand is set to skyrocket over the next two decades, OPEC said in its latest annual outlook, with India and China the most important contributors to this growth.

In the influential oil cartel’s 2018 World Oil Outlook (WOO), the group said it expects total primary energy demand to surge around 33 percent from 2015 levels.

Driven almost entirely by developing countries — most notably India and China — demand is expected to increase at an average annual growth rate of nearly 2 percent, reaching 365 million carrels per day (bpd) in 2040.

“Energy demand in India and China in this period is forecast to increase by 22 million bpd and 21 million bpd, respectively, which is more than 50 percent of the energy demand growth in developing countries during this period,” OPEC said in the report.

At present, energy market participants are increasingly concerned about a slowdown in the global economy, escalating trade tensions, emerging market countries’ currency weakness and the potential fallout this could have on oil demand.

Last month, the International Monetary Fund (IMF) cut its outlook for the world economy in 2018-19 by 0.2 percentage points to 3.7 percent.


Company: cnbc, Activity: cnbc, Date: 2018-11-13  Authors: sam meredith, vcg, getty images, omar marques, sopa images, lightrocket
Keywords: news, cnbc, companies, countries, global, world, 2040, energy, bpd, thanks, opec, skyrocket, oil, demand, china, million, outlook, india, expects


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Kolkata: A city of arts, culture and cuisine

Kolkata is the capital of India’s eastern state of West Bengal. In addition to its history, the gateway to eastern India is famous for its food. Bengali cuisine has evolved over time, but Kolkata still remains an ideal place to experience the cuisine characterized in part by mustard oil and fish. There are many very good restaurants in the city, but if you want home cooked Bengali food, then that’s possible, too. In northern Kolkata, the oldest part of the city, you’ll find the stately mansions


Kolkata is the capital of India’s eastern state of West Bengal. In addition to its history, the gateway to eastern India is famous for its food. Bengali cuisine has evolved over time, but Kolkata still remains an ideal place to experience the cuisine characterized in part by mustard oil and fish. There are many very good restaurants in the city, but if you want home cooked Bengali food, then that’s possible, too. In northern Kolkata, the oldest part of the city, you’ll find the stately mansions
Kolkata: A city of arts, culture and cuisine Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-09  Authors: tom chitty, avishek das, pacific press, lightrocket, getty images
Keywords: news, cnbc, companies, eastern, famous, culture, bengali, cuisine, indias, india, food, kolkata, arts, iti, city


Kolkata: A city of arts, culture and cuisine

Kolkata is the capital of India’s eastern state of West Bengal. It’s now known for its gentle pace of life, but back in the 18th century, the city was British India’s most important trading post and the showpiece of colonial power.

In addition to its history, the gateway to eastern India is famous for its food. Bengali cuisine has evolved over time, but Kolkata still remains an ideal place to experience the cuisine characterized in part by mustard oil and fish.

There are many very good restaurants in the city, but if you want home cooked Bengali food, then that’s possible, too. Iti Misra is one of a number of home chefs that host lunches for visitors to the city: Cooking from her kitchen, Iti dishes out authentic Bengali cuisine and gives her guests a glimpse into local life.

Home to prominent intellectuals, Kolkata is regarded as an artistic and cultural capital of India. In northern Kolkata, the oldest part of the city, you’ll find the stately mansions of famous Kolkatans such as Nobel Prize-winning poet Rabindranath Tagore.

That area of the city is also home to the busy Kumartuli clay making quarter. There, potters mold lifelike religious idols for the city’s many festivals.


Company: cnbc, Activity: cnbc, Date: 2018-11-09  Authors: tom chitty, avishek das, pacific press, lightrocket, getty images
Keywords: news, cnbc, companies, eastern, famous, culture, bengali, cuisine, indias, india, food, kolkata, arts, iti, city


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

China and India will lead the world’s nuclear power growth, experts say

India and China are set to drive the world’s nuclear power production growth as the two developing nations — among the top consumers of energy in the world — pursue their respective national nuclear energy programs. According to the International Energy Agency, nuclear power production will grow by about 46 percent by 2040 — and more than 90 percent of the net increase will come from China and India. Global nuclear electricity output grew 1 percent in 2017, as the world’s nuclear fleet generated


India and China are set to drive the world’s nuclear power production growth as the two developing nations — among the top consumers of energy in the world — pursue their respective national nuclear energy programs. According to the International Energy Agency, nuclear power production will grow by about 46 percent by 2040 — and more than 90 percent of the net increase will come from China and India. Global nuclear electricity output grew 1 percent in 2017, as the world’s nuclear fleet generated
China and India will lead the world’s nuclear power growth, experts say Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: melissa goh, lin shanchuan, xinhua news agency, getty images
Keywords: news, cnbc, companies, nuclear, power, india, international, production, lead, world, growth, energy, report, china, experts, worlds, say


China and India will lead the world's nuclear power growth, experts say

India and China are set to drive the world’s nuclear power production growth as the two developing nations — among the top consumers of energy in the world — pursue their respective national nuclear energy programs.

According to the International Energy Agency, nuclear power production will grow by about 46 percent by 2040 — and more than 90 percent of the net increase will come from China and India.

Global nuclear electricity output grew 1 percent in 2017, as the world’s nuclear fleet generated 2,503 terawatt-hours (TWh) of electricity, according to the World Nuclear Industry Status Report 2018.

Take China out of the picture, however, and the reality looks starkly different: Global nuclear power generation would have declined for a third consecutive year, the report showed.

Asia, for its part, saw 8 to 9 percent growth in nuclear capacity last year, Agneta Rising, the director general of the World Nuclear Association, told CNBC at the Singapore International Energy Week conference last week.

“(The) largest growth in nuclear energy is in the Asia region, especially in China and India,” she said, adding that nuclear power is “absolutely compatible” and “necessary” for a low carbon future.


Company: cnbc, Activity: cnbc, Date: 2018-11-08  Authors: melissa goh, lin shanchuan, xinhua news agency, getty images
Keywords: news, cnbc, companies, nuclear, power, india, international, production, lead, world, growth, energy, report, china, experts, worlds, say


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

India, not China, to take center stage in Netflix’s expansion plan in Asia


India, not China, to take center stage in Netflix’s expansion plan in Asia Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08
Keywords: news, cnbc, companies, stage, india, center, expansion, netflixs, china, asia, plan



Company: cnbc, Activity: cnbc, Date: 2018-11-08
Keywords: news, cnbc, companies, stage, india, center, expansion, netflixs, china, asia, plan


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Journey Through India: Kolkata

Journey Through India: Kolkata14 Hours AgoBack in the eighteenth century, Kolkata was British India’s most important trading post and the showpiece of their colonial power. Today the city is regarded as the artistic and cultural capital of India. Join CNBC’s Tom Chitty on a journey through the capital.


Journey Through India: Kolkata14 Hours AgoBack in the eighteenth century, Kolkata was British India’s most important trading post and the showpiece of their colonial power. Today the city is regarded as the artistic and cultural capital of India. Join CNBC’s Tom Chitty on a journey through the capital.
Journey Through India: Kolkata Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-08
Keywords: news, cnbc, companies, regarded, trading, post, journey, today, capital, india, tom, kolkata, power, showpiece


Journey Through India: Kolkata

Journey Through India: Kolkata

14 Hours Ago

Back in the eighteenth century, Kolkata was British India’s most important trading post and the showpiece of their colonial power. Today the city is regarded as the artistic and cultural capital of India. Join CNBC’s Tom Chitty on a journey through the capital.


Company: cnbc, Activity: cnbc, Date: 2018-11-08
Keywords: news, cnbc, companies, regarded, trading, post, journey, today, capital, india, tom, kolkata, power, showpiece


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post

Journey Through India: Bangalore

Journey Through India: Bangalore13 Hours AgoBengaluru, still commonly referred to as Bangalore, is a cosmopolitan and progressive city widely recognized as one of the biggest tech hubs of India. CNBC’s Tom Chitty explores what makes it so special on the third stop of his Journey Through India.


Journey Through India: Bangalore13 Hours AgoBengaluru, still commonly referred to as Bangalore, is a cosmopolitan and progressive city widely recognized as one of the biggest tech hubs of India. CNBC’s Tom Chitty explores what makes it so special on the third stop of his Journey Through India.
Journey Through India: Bangalore Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2018-11-01
Keywords: news, cnbc, companies, widely, india, tom, special, bangalore, journey, recognized, referred, progressive, stop, tech


Journey Through India: Bangalore

Journey Through India: Bangalore

13 Hours Ago

Bengaluru, still commonly referred to as Bangalore, is a cosmopolitan and progressive city widely recognized as one of the biggest tech hubs of India. CNBC’s Tom Chitty explores what makes it so special on the third stop of his Journey Through India.


Company: cnbc, Activity: cnbc, Date: 2018-11-01
Keywords: news, cnbc, companies, widely, india, tom, special, bangalore, journey, recognized, referred, progressive, stop, tech


Home Forums

    • Forum
    • Topics
    • Posts
    • Last Post