India needs economic freedom to achieve developed nation status by 2047 as the country continues its quest to become the world’s third-biggest economy, Union Finance Minister Nirmala Sitharaman has said. “India should attain self sufficiency on economic matters. It should become an economic power. The country has come from 10th position to fifth in global […]
China is set to remove barriers for foreign investors and implement pilot schemes to improve access to the Chinese market for global companies in the fields of scientific and technological innovation. An action plan, released by the General Office of the State Council, China’s Cabinet, also outlined how the country will remove restrictions on foreign […]
Malaysia’s economic growth will be driven by resilient domestic expenditure, aided by an expected recovery in exports, according to the central bank’s latest Economic and Monetary Review 2023 report. Bank Negara Malaysia’s report the country’s economy is expected to grow 4%–5% in 2024, with a solid employment market and wage increases continuing to bolster household […]
Dubai’s government has announced it is to create a Unified Digital Platform that will help businesses establish and contribute to the emirate’s economic growth. The new platform, which will utilise the existing Invest in Dubai platform, aims to integrate various licensing processes and covers all economic activity, the Dubai Media Office said. These processes include […]
A leading rating agency has raised its growth forecast for the Indian economy, based on stronger domestic demand and increased business confidence. Fitch expects the Indian economy to continue its strong expansion, with real GDP forecast to increase by 7% for fiscal 2025, which starts in April 2024. This represents a 50 basis points increase […]
China’s Premier Li Qiang has unveiled the 2024 Government Work Report (2024 GWR), setting out an array of economic and development goals for the country to pursue over the coming year. It includes a GDP growth target of 5%, and outlines preferential tax policies and industry priorities, as well as measures to boost domestic consumption, […]
The Malaysian government is looking to enhance communication among stakeholders before introducing new tax measures, Finance Minister Amir Hamzah bin Azizan has said. The service tax rate increase from 6% to 8% implemented from 1 March, was based on discussions with various stakeholders, he said. “The service tax rate increase from 6% to 8% was […]
India’s gross domestic product expanded 8.4% in the October to December quarter of 2023, driven by buoyant manufacturing and construction. The government also revised up its GDP growth forecast for the year ending in March 2024 to 7.6%, from its January projection of 7.3%. The figure for the quarter ended December, India’s third fiscal term, […]
China is looking to expand the economy by around 5% this year, with the government introducing targeted macro policies to sustain stable growth, according to a new Government Work Report. The country pledged to marry flexible fiscal policies with prudent monetary policy in a flexible, moderate, targeted and effective manner, according to the report delivered […]
