India: Global Leader

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INDIA COULD LEAD THE GLOBAL ECONOMY THIS CENTRY: US
The Economic Times

MUMBAI: India could lead the global economy in the 21st century if it takes further steps on economic reforms and opens up more sectors to foreign players, the US said today.

“If India continues its walk down the path of reform, if it continues to become more open to the investments and the innovations of foreign companies…it will stand a much better chance…to lead the global economy in the 21st century,” US Commerce Secretary Gary Locke said here.

He also raised the issues of reciprocity in trade between the two countries and a need to remove cross-border barriers, saying that India continued to be ranked low on ease of doing business because of such hindrances.

EMERGING MARKETS AN EVEN BETTER BET FOR THE NEXT DECADE: BARCLAYS
The Economic Times

LONDON: Robust economic growth is likely to drive emerging market stocks to beat the last decade’s performance over the next 10 years but make regional debt less attractive, a Barclays study concluded on Thursday.

Releasing its annual Equity Gilt Study, a long-standing research project into numerous assets and markets, Barclays said emerging markets have changed, as was made clear by their realtive ability to ride out the 2007-09 financial crisis.

Piero Ghezzi, head of global economics at Barclays Capital, said at the launch of the study that emerging market economies were now stable enough, with large surpluses in some cases, to shrug off their traditional reputation as a speculative bet.

INDIA, CHINA TO LEAD THE WORLD IN ASIAN CENTURY, SAY EXPERTS
The Economic Times

MUMBAI: India has to empower its own citizens first to take a leadership position in the world in what is expected to be an Asian century, felt an eminent panel at ET Leader 2 Leader forum held on the sidelines of the Nasscom’s India Leadership Forum 2011 here.

The panel consisted of McKinsey India head Adil Zainulbhai, The Blackstone Group’s Senior MD for Greater China Antony Leung, and John Sculley, MD of Pivot Acquistion Corp, along with Jerry Rao, Chairman of Nasscom Foundation.

The panel felt that it will be an India and China century. “We in China never think about China versus India or US,” said Antony Leung, Blackstone’s Senior MD for Greater China.

Real Estate Finance

LAND REGISTRATION RATES DOUBLED IN DELHI
Indian Realty News

Circle rates, the minimum value of any piece of land or immovable property for registration, doubled in Delhi yesterday. First fixed in 2007, they’ve been revised for the first time. Developers and analysts were split on whether this would take property prices up significantly in the capital. While some developers indicated these could increase 10 to 12 per cent, others anticipated only a marginal impact, as the market rates were already much higher than the revised structure in many places.

There’s consensus, however, that the overall revenue going into the city government kitty from stamp duties would shoot up. The government said it wanted to check the circulation of black money in realty transactions by revising the circle rates. After the Delhi Cabinet led by chief minister Sheila Dikshit had decided to increase the circle rates by 100 per cent, lieutenant governor Tejendra Khanna had opposed it. Subsequently, the matter was referred to the Union home ministry, which backed the Delhi government.

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