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Tuesday
June 2019
4:30 AM IST
News Headlines
Bhuvneshwar ruled out of next 2-3 games due to hamstring niggle: Kohli        Shakib 124, Liton 94 guide Bangladesh to 7 wicket victory over WI        Facebook to unveil new cryptocurrency        Sensex drops over 150 pts; Nifty below 11,800        Hong Kong police clear streets as protesters move to park        Argentina, Uruguay restore power after massive blackout        Hong Kong activist Joshua Wong walks free, calls on leader to resign        Don't bother about numbers, your every word is valuable: PM to Oppn        Kejriwal seeks action against cops for thrashing driver        Amarinder seeks Shah's intervention in streetfight between cops and driver in Delhi        WB doctors agree to call off strike during meeting with Mamata        Kerala Congress (M): Jose K Mani elected as Chairman        Cyclone Vayu to recurve towards Gujarat and weaken gradually        Joseph terms Jose K Mani''s election unconstitutional, says ''crowd'' can''t elect chairman        Heatwave claims 61 lives in Bihar        With eyes on 2022, Priyanka to step up UP tours, meet Cong workers twice a week        Hong Kong leader apologises as massive rally chokes city        Gunmen on motorcycles kill 34 villagers in Nigeria: Police        Trump to raise Hong Kong protests with Xi at G20: Pompeo        Protesting doctors turn down Mamata''s invite for talks, say CM has to apologise first        
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Business News
Boosting exports key to make India $5-tn economy by 2025: Kant
 
Mumbai, Dec 13 (PTI) NITI Aayog chief executive Amitabh Kant Thursday said that India's exports need to increase significantly if the country has to become a USD 5-trillion economy by 2025.

Kant also noted that the private sector will play a major role in pushing the country's economy towards the ambitious USD 5-trillion target.

"In the last four years, we (Centre) have taken a series of measures to improve our rankings in ease of doing business, along with many structural reforms like Rera, GST and IBC. These measures will make India extremely efficient in the long run," Kant said at the India Economic Conclave organised by the Times Network here.

He, however, noted that to address the real challenge of growing the GDP at 9-10 per cent over the next three decades, India will have to increase its exports.

"No country has grown without exports. Take the example of Japan, Korea and China, which have grown on the back of exports. So, India needs to push for exports, which would require size and scale of manufacturing and penetrating global markets," he said.

Kant further noted that to achieve this, it is necessary to create 100 champion companies like Tata Consultancy Services (TCS), with proper support from the government.

Speaking at the event, LIC chairman VK Sharma said a robust insurance sector can add 1 per cent to the GDP over the next five years if it grows at an annualised rate of 15 per cent or more.

Collectively, the general and life insurance penetration has grown beyond 2 per cent, he said. It can be noted this is still below the global average where the penetration is at 3 per cent or more.

Sharma further said that it was necessary to take the insurance industry global to achieve the target.

TCS chief executive officer and managing director Rajesh Gopinathan said that along with the challenges, there are several opportunities as well.

"We should not be afraid of having big aspirations and achieving large targets, like becoming a USD 100 billion company," he said.


Facebook to unveil new cryptocurrency
Sensex drops over 150 pts; Nifty below 11,800
India ad spend likely to be Rs 697 billion in 2019: Report
UK court rejects Nirav Modi''s bail for fourth time over fears he would abscond
Bring down corporate tax to 18 pc sans exemptions: CII
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Facebook stops Huawei from pre-installing apps on phones
Rupee rises 31 paise to 69.39 vs USD in early trade
Bajaj Auto sales rise 3 pc in May to 4.19 lakh units
RBI policy, macro data key for markets in holiday-shortened week: Analysts
Six of top-10 firms add Rs 99,994 cr in m-cap; TCS leads
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Sitharaman: India's first woman FM; looks to steer economy out of slowdown
Rupee sees high volatility post allocation of key portfolios
Sensex drops over 200 pts; Nifty below 11,900
G20 countries eye tax policy for internet giants: Nikkei
Sensex, Nifty resume record run on F&O expiry
Sensex sheds 248 pts; banking stocks drag
KERALA NEWS
Joseph terms Jose K Mani''s election unconstitutional, says ''crowd'' can''t elect chairman
 Kottayam: Terming the election of Jose K Mani as party Chairman is unconstitutional, Kerala Congress  
Seven sustain burn injuries as bus catches fire in road accident
Rahul renews attack on BJP, Modi during ''thanksgiving'' visit to Wayanad
It's Confirmed: 23-year-old boy infected with Nipah
INTERNATIONAL NEWS
Hong Kong police clear streets as protesters move to park
 Hong Kong: Protesters in Hong Kong left the streets, averting possible clashes Monday after haggling
Argentina, Uruguay restore power after massive blackout
Hong Kong activist Joshua Wong walks free, calls on leader to resign
Hong Kong leader apologises as massive rally chokes city
NATIONAL NEWS
Don't bother about numbers, your every word is valuable: PM to Oppn
 New Delhi: Reaching out to the opposition on the first day of the monsoon session, Prime Minister Na
Kejriwal seeks action against cops for thrashing driver
Amarinder seeks Shah's intervention in streetfight between cops and driver in Delhi
Cyclone Vayu to recurve towards Gujarat and weaken gradually
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