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Tata Group Named Country’s Most Valuable Brand in Brand Finance List

Brand finance in its 2017 report that lists India’s 100 most valuable brands has named Tata Group as the most valuable brand in India at an estimated brand value of $13.1 billion. Brand Finance is a global brand valuation and strategy consultancy firm. Tata Group has managed to top the list despite its brand value declining 4% from $13.7 billion in 2016.

As per the report, the total brand value of India’s top 100 brands have surged 15% in 2017 compared to the global average of 11%. Overall 68 of India’s 100 most valuable brands have registered growth in value this year.

Telecom operator Airtel at an estimated valuation of $7.7 billion has been ranked second in the list followed by Life Insurance Corporation of India (LIC) with $6.8 billion.

IT firm Infosys and State Bank of India have been ranked fourth and fifth in the list with an estimated value of $6.2 billion and $5.5 billion respectively.

Backed by the addition of 35 new routes and increase in operations in the existing route, Indigo Airlines  jumped from No. 95 in 2016 to No. 62 in 2017 in the Brand Finance list.

Handset maker Micromax’s performance has suffered the most with its brand value dropping by 39% and fell to the 95th position in the list of top 100 brands.

Air carrier Indigo Airlines gained the most. Indigo jumped from No. 95 in 2016 to No. 62 in 2017 in the Brand Finance list.

The report has named ITC as the most powerful brand in the country. As per the report it is the country’s only AAA rated brand with a Brand Strength Index score of 86. 

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India’s GDP Growth Forecast for 2017 Revised Downward by UN

In the report titled, World Economic Situation and Prospects, the UN has projected a 7.3% growth for India in 2017. Earlier in the report’s January edition, UN had forecasted a growth of 7.7% for the year. The revised report also has predicted an impressive 7.9% GDP growth for the year 2018 which is an increase from its January estimate of 7.6%.

Salient Highlights

According to the report, despite India’s growth being revised downward, India remains one of the fastest growing developing economy which is ahead of China. China is projected to grow at 6.5% in 2017 and 2018.
The report has observed that despite temporary disruptions caused by the demonetization policy, economic conditions underpinned by sound fiscal and monetary policies remain robust. However, the report has warned that the stressed balance sheets of the Indian banks is likely to have an adverse impact on investment rebound in the country.

World gross product is likely to expand by 2.7% in 2017 and 2.9% in 2018. This is an improvement over 2.3% growth experienced in 2016.

The report expects a recovery in world industrial production and global trade backed by rising import demand from East Asia.

The report expects firmer growth in developed economies and economies in transition, especially in East and South Asia which is likely to remain as the world’s most dynamic regions supported by robust domestic demand and supportive macroeconomic policies.

As a way forward, the report calls for renewed global commitments to deepen international policy coordination in key areas such as aligning the multilateral trading system with the 2030 Agenda for Sustainable Development; enlarging official development aid; supporting climate finance and clean technology transfer; and addressing the challenges posed by large movements of refugees and migrants etc. 

World Economic Situation and Prospects

World Economic Situation and Prospects is UN/DESA’s flagship report on the state of the global economy. It is a result of the joint work of the United Nations Department of Economic and Social Affairs (UN/DESA), the United Nations Conference on Trade and Development (UNCTAD) and the five United Nations regional commissions: Economic Commission for Africa (ECA), Economic Commission for Europe (ECE), Economic Commission for Latin America and the Caribbean (ECLAC), Economic and Social Commission for Asia and the Pacific (ESCAP) and Economic and Social Commission for Western Asia (ESCWA). Apart from the above organizations, the United Nations World Tourism Organization (UNWTO) also contributs to the report.

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Forex Reserves reach Life-Time High of $375.71 billion

According to RBI, India’s foreign exchange (Forex) reserves have increased by  $2.985 billion to touch a lifetime high of $375.71 billion in the week that ended on May 5. The increase was due to increase in foreign currency assets (FCAs). The reserves had increased by $2.474 billion to $351.53 billion in the previous week.

Components

The components of India’s Foreign Exchange Reserves include: Foreign currency assets (FCAs), Gold, Special Drawing Rights (SDRs) and RBI’s Reserve position with International Monetary Fund (IMF).

Out of all the components, FCAs constitute the largest component of the Forex Reserves. FCA rose by $2.474 billion to $351.53 billion in the reporting week. FCAs consist of US dollar and other major non-US global currencies. It also comprises of investments in US Treasury bonds, bonds of other selected governments, deposits with foreign central and commercial banks. FCAs include with them the effects of appreciation or depreciation of non-US currencies like the euro, pound, and the yen and is expressed in terms of dollars.

The gold reserves  increased $569.9 million to $20.438 billion. SDRs’ value decreased marginally by $0.4 million to $1.459 billion. RBI’s reserve position with the IMF declined $58.4 million to $2.288 billion.

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