Big News

India and France Sign Pact on Securing Military Communication.  India and France are signing a pact on securing communication links between their top military officials, deepening their defense partnership in the Indian Ocean region.

Canadian Pension Funds to Invest in Indian Private Debt Space.  Canadian pension funds are planning to invest US$1.5bn to set up credit platforms targeting the private debt segment in India, at a time when a credit crunch has hampered the ability of companies to raise funds from traditional lending sources.

India to Witness 7% Rise in Job Creation from October-March.  New economic reforms have improved the hiring outlook, with a 7% increase in job creation projected across seven sectors including healthcare & pharmaceuticals, information technology, e-commerce, KPO, power and energy, and logistics.

Government to Bring New E-Commerce Policy in 2020.  The government is expected to introduce a new policy for e-commerce which allows e-commerce data in the country to be localised with a goal to benefit local innovation by making it accessible to Indian start-ups.

Government to Increase FDI Limit in Insurance Companies.  The government is planning to raise the overseas investment limit in the insurance sector to 74%, up from 49%, with the announcement expected to be a part of the Union Budget for fiscal 2021.

Union Cabinet Approves Infusion into Infrastructure Finance Company Ltd (IFCL).  The union cabinet approved infusion of US$757m into state owned IFCL, enabling it to finance big ticket infrastructure projects in line with Indian government’s target to invest US$14bn in the infrastructure sector over the next five years.