- India is among top 10 FDI recipients
- India jumped to the ninth rank in 2014 with a 22 per cent rise in FDI inflows to $34 billion. India was at the 15th position in the previous two years.
- After 2008, for the first time, India again broke in to the top 10 recipients of foreign direct investment (FDI)
- India, however, is the only BRIC (Brazil, Russia, India and China) country that hasn’t yet crossed the $50 billion-a-year FDI mark.
- In a development of significance to India, for the first time FDI inflows in to China’s services sector were greater than into its manufacturing sector.
- India, however, dropped out of the top 20 countries in the outward FDI flows.
- China became the largest recipient of FDI in 2014 with $129 billion inflows, followed by Hong Kong (China) that received $103 billion and the U.S. with $92 billion. At 39 per cent, Hong Kong saw the biggest surge in inflows during the year.
- Russia dropped out of the top 10 as foreign investors exited its oil sector and other projects after Western countries slapped economic sanctions on it.
- Among the top 10 FDI recipients in the world, half are developing economies – Brazil, China, Hong Kong (China), India and Singapore.
- Global FDI fell 16 per cent to $1.23 trillion in 2014 mainly due to the fragility of the global economy, policy uncertainty for investors and elevated geopolitical risks, according to the report. New investments were also offset by some large divestments.
- The report also found that developing countries lost $100 billion in tax revenues owing to investors routing FDI through tax havens such as Mauritius, and has made a strong case for multilateral action to address the issue.
China emerges as a big player
- The report records the big surge in investments from China into every region of the world, and especially in India’s neighbourhood.
- FDI inflows to Pakistan increased by 31 per cent to $1.7 billion as a result of rising Chinese FDI flows in services. Further, the country will benefit significantly from the China-Pakistan Industrial Corridor and associated Chinese investment in infrastructure and manufacturing in the overall context of implementing the “One Belt, One Road” strategy.
- According to agreements signed between the two governments in April 2015, Chinese companies will invest about $45.6 billion in Pakistan over the next few years — $33.8 billion in electricity and $11.8 billion in transport infrastructure.
- In Sri Lanka, where China has become the largest source of FDI in recent years, FDI flows from it rose. For example, a joint venture between two local companies and China Merchants Holdings (International) Company has invested $500 million in Colombo International Container Terminals, the largest foreign investment project in Sri Lanka. After two years of construction, the port started operation in August 2014.
- A China-Sri Lanka FTA will be signed in June 2015. Moreover, if the implementation of the China-led 21st Century Maritime Silk Route Economic Belt gains ground, an increasing amount of Chinese investment will flow to Sri Lanka, particularly in large infrastructure projects.
Almost nine percent of popular apps downloaded from Google Play interact with websites that could compromise users’ security and privacy, according to a new University of California, Riverside study. The team ...READ MORE
Water Resources Minister M B Patil on Wednesday informed the Legislative Council that it would be unscientific to desilt the Tungabhadra dam, which has about 33 tmcft of silt deposition. Replying ...READ MORE
This scheme was introduced during 1991-92 to provide housing for rural homeless poor Annual income of the beneficiary was Rs.32,000 Till 2004-05 the beneficiaries were selected by the Ashraya Committees headed by the ...READ MORE
Tirthahalli taluk in grip of Kyasanur Forest Disease Tirthahalli taluk continues to remain in the grip of Kyasanur Forest Disease (KFD), also known as monkey fever, as four positive cases among ...READ MORE
Below poverty line and above poverty line families will not get their monthly ration under the public distribution system from April 1, if they fail to link Aadhaar number with ...READ MORE
Inflow in the Netravathi to the Thumbe vented dam, which supplies drinking water to the city, has dropped by 50% in a month. It might force the Mangaluru City Corporation to ...READ MORE
Drinking water supply schemes under Rajiv Gandhi National Drinking Water Mission have been formulated in rural areas with surface water as source to tackle water quality problem. Habitations affected by chemical ...READ MORE
Why in News: Prime Minister Narendra Modi arrived in Vientiane, Laos on Wednesday to attend two important meetings – the 14th Indo-Asean summit and the East Asia forum. Here is what you ...READ MORE
National Court of Appeal 1. What is a National Court of Appeal? The National Court Appeal with regional benches in Chennai, Mumbai and Kolkata is meant to act as final court of ...READ MORE
Second unit of Yeramarus power plant commissioned The second 800-MW unit of Yeramarus thermal plant in Raichur district was commissioned on 30th March. The first unit of the 2x800 MW plant was ...READ MORE
Safety concerns of apps
To offset silt in Tungabhadra dam: State plans to
Rural Development – Housing – Rural Ashraya/Basava Vasathi
Karnataka State Current Affairs – KAS / KPSC
No PDS supplies if Aadhaar is not linked
Netravathi River: Inflow Drop at Thumbe Dam by
Rural Development-Multi Village Scheme Project & Swachha Bharat
The 14th Indo-Asean summit and the East Asia
All you need to know about National Court
Current Affairs – Karnataka – KAS / KPSC