Daily Economic News - 27 August 2014

India for talks to boost connectivity with Thailand, Myanmar:
India said it has proposed three-way talks with Myanmar and Thailand on negotiations over a Transit Transport Agreement for the Trilateral Highway to boost connectivity and trade with the strategic region. The FTA on Trade in Goods, which India signed in 2009, has helped to bring about steady increase in trade volumes between ASEAN and India. It now stands at $ 76 billion annually and is pursuing a target of $ 100 billion by 2015.
(Source: The Economic Times)

Government to boost financial inclusion through Pradhan Mantri Jan Dhan Yojana:
Financial Services Secretary GS Sandhu on Tuesday said the government is all set to expand the scope of financial inclusion through the Pradhan Mantri Jan Dhan Yojana (PMJDY), which aims to provide every household with a bank account and insurance cover.
Under PMJDY, each accountholder will get a RuPay debit card with accident insurance cover of Rs1 lakh. In the second phase, these account-holders will also get life insurance cover and pension products. Further, overdraft of Rs5,000 will be provided to each account holder after satisfactory operation in the account for six months.
There are 1.5 crore households in urban areas that are not connected with banks and around six crore household in rural areas that are outside the purview of formal banking structure.
(Source: The Economic Times)

Indian pharma market to grow better than global peers: Moody's
India's pharmaceutical market will see continued strong growth at a more favourable rate than its global peers and even if the country's GDP growth were to slow down, it would still represent a better growth opportunity, according to Moody's Investors Service. Drug companies in the country could, however, face higher debt levels as the pharmaceutical sector in India grows, resulting in mergers and acquisitions, it said. The sector would also witness heightened activity of mergers and acquisitions (M&A) following global trend although Indian firms do not face the same growth pressures as other players across the industry, MIS said.
(Source: Financial Express)

Thaiindianet.Team

27 August 2014