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September, 26, 2016

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Business > Asia > India
The lights finally come on for one Indian village
Ram Kishore searched long and hard to find a suitable wife for his son, but his efforts only paid off when electricity finally came to his village in rural north India this year.
 
Narendra Modi was elected two years ago this week promising to ease India's notorious red tape and unpack regulatory tangles, but for foreign firms, doing business in the world's fastest-growing large economy can still be a costly headache.
 
Smarter cities
An electric car is displayed during the Smart Cities India 2016 expo in the Indian capital New Delhi on Thursday, May 12. The three-day event showcases the latest trends and technologies from national and international companies that aim to lay foundations for the development of "smart cities."
 
India's market regulator Saturday announced a clampdown on "willful defaulters" as the government tackles mounting bad bank loans, days after tycoon Vijay Mallya left the country owing more than US$1 billion.
 
U.S. seed giant Monsanto has threatened to pull its genetically modified crop technology from India if the government goes ahead with its plan to cut the company's royalty fees.
 
Indian gov't unveils plan to double farmer incomes
India pledged Monday to invest billions of dollars to improve the lives of farmers and boost the rural economy, drive consumer demand and stimulate growth.
 
Some 7 million Indians work in the Gulf countries in everything from banking to construction and real estate. Annually, they send a staggering US$40 billion back home. Thus the economic impact of cutbacks in the Gulf will be substantial, particularly on the southern state of Kerala which has more than 2.5 million people working in the region.
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Air travel booms in India, strains creaky infrastructure
Lightson Ngashangva still remembers the long train journeys followed by interminable bus rides each summer when he went home from New Delhi to his village in India's remote northeast.
 
Massive fire breaks out at investment event in Mumbai with no casualties
A massive fire broke out an event in Mumbai meant to showcase India as an attractive destination for billions of dollars of foreign investment.
 
India's government has essentially banned a Facebook program that sought to connect with low-income residents by offering free access to a limited version of the social network and other Internet services.
 
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