The travel and tourism market in India will reach a revenue of USD 23.72 billion in 2024, growing at a CAGR of 9.62 per cent from 2024 to 2028. To boost the growth of the tourism sector, India has announced 100 per cent foreign direct investment (FDI) in tourism-related businesses in 2023, allowing investments in hotels, resorts and recreational facilities. Prime Minister of India Narendra Modi emphasised that India’s efforts in tourism are aimed at preserving the country’s heritage and…

Ethiopia’s Ambassador to India Demeke Atnafu has invited investors from the South Asian country to participate in Ethiopian projects. This is reported by ENA. The diplomat was speaking at the 6th Global Business Leaders Forum in Mumbai, organised by the Asian-African Chamber of Commerce and Industry. Demeke Atnafu spoke about the vast investment opportunities in sectors of the Ethiopian economy such as agriculture, mining, information technology, tourism and others. He then urged the companies attending the event to invest in…

The authorities now support 100,000 startups and 113 unicorn companies (firms whose capitalisation has exceeded US$1 billion in a short period of time) established in the country. This is reported by ANI, a partner of TV BRICS. The startups are often related to innovative sectors such as financial technology, e-commerce, education technology and artificial intelligence. Earlier, India’s Minister of State for North Eastern Development Jitendra Singh highlighted Narendra Modi’s role in strengthening the country’s position in the economic arena. He…

The Indian Prime Minister Narendra Modi said that with the government’s approval for the construction of three semiconductor manufacturing facilities, the country will further move towards technological self-reliance. “This will also ensure India emerges as a global hub in semiconductor manufacturing,” he stressed. The Indian government has approved the construction of three semiconductor manufacturing and assembly plants in the country with an investment of US$15.2 billion. This is reported by ANI, a partner of TV BRICS. The first plant will be…

Indian Prime Minister Narendra Modi has said that an Indian astronaut will travel to the surface of the moon on his own rocket. “By 2035, India will have its own space station in space that will help us study the unknown expanses of space. In this period of Amrit Kaal, Indian astronaut will land on the surface of the moon on our own rocket,” said Modi. He then said that 21st century India is becoming an active global player, making significant…

The Indian economy will grow at around seven per cent in the financial year 2024-25. This was stated in the Finance Ministry’s monthly review report. The Indian economy grew at 7.2 per cent in 2022-23 and 8.7 per cent in 2021-22. The Indian economy is expected to grow at 7.3 per cent in the current financial year (2023-24). This will enable it to remain the fastest growing economy. The resilience of domestic demand – private consumption and investment is attributed…

Talking to the participants of the Smart India hackathon (SIH) grand finals on Tuesday, Prime Minister Narendra Modi said India is working towards creating international rules for AI. The Chandrayaan project has shown the world that India is capable of many such achievements. This is a crucial period for young people like you who want to contribute to the development of the country’s space sector. This is reported by ANI, a partner of TV BRICS. Earlier, Prime Minister Narendra Modi…

India’s nominal GDP growth will rise by 11.6 per cent this year up from 9.2 per cent in 2023, making the country’s nominal GDP growth the highest in Asia for the third consecutive year, a report by a major financial conglomerate said. This is reported by IANS, a partner of TV BRICS. India’s contribution to Asian and global growth will rise by 30 per cent and 17 per cent, respectively, up from 28 per cent and 16 per cent in…

The volume of trade between Russia and India will reach a record high this year. This statement was made by Dmitry Volvach, Deputy Minister of Economic Development of the Russian Federation, during the India-Russia business dialogue. “It is safe to say that this year we will renew our historical record of mutual trade,” the Russian representative said. According to Volvach, trade volume exceeded 3.9 trillion roubles (over $40 billion) in the first three quarters of this year. He noted that…

The fifteenth BRICS summit that was held in Johannesburg in August this year has been regarded by most analysts as epochal in both geo-economic and geo-political terms. As of 2023, the economic weight of the initial five nations in GDP terms has already surpassed that of the G7 which is made up of the world’s largest developed economies. The entry of the six new members into BRICS makes this intergovernmental partnership the ultimate global power block in both political and…