Big News

India Becomes Fourth Space Power in the World After United States, Russia and China.  India successfully targeted and shot down a live satellite in low earth orbit, becoming only the fourth country to acquire this capability after United States, Russia and China.

Rupee becomes Asia’s Best Performing Currency for First Quarter of 2019.   The Indian Rupee is the best performing currency in Asia for the first quarter of 2019, strengthening from 71 against the dollar at the start of February, to 69.1, bolstered by a weakened US dollar and a surge in foreign stock inflows.

Private Equity, Venture Capital Exits In India Double to US$32bn over the Previous Year.  Consultancy firm Bain and Company released the 2018 India Private Equity and Venture Capital Report, which highlighted exits for PEs and VCs in India rising over the last couple of years, with exits in 2018 doubling to US$32bn over the previous year.

India Trade Deficit Narrows to 17-Month Low in February.  India’s trade deficit narrowed to a 17-month low of US$9.6bn in February, with exports growing by 13.3% and imports declining by 4.3% for the month in Rupee terms.

India’s Exports Projected to Reach An All Time High of  US$330bn in 2018-19.  India’s goods exports are projected to reach US$330bn in 2018-19, greater than the previous exports all time high of US$314bn in 2013-14. This performance is significant in light of the challenges presented by growing protectionism to global trade.

FIIs Invest US$3.3bn in March, the Highest Over the Previous 24 Months.  FIIs became net buyers in India for March with investments of US$3.3bn in shares, the highest over the previous 24 months, largely due to the change in view on global liquidity resulting from the shift in stance of US Federal Reserve on monetary policy outlook.