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#We'll make Maharashtra the cradle of fourth industrial revolution, says Mukesh Ambani
Reliance Industries, the country’s largest private sector company in terms of revenues, along with several global firms, will invest over Rs 60,000 crore in the next 10 years to set up India’s first-ever integrated digital industrial area in Maharashtra, its chairman Mukesh Ambani said on Sunday.
Ambani said that more than 20 global companies including Siemens, Cisco, Dell, HP, Corning, Nvidia and Nokia have agreed to collaborate and coinvest in the venture.
This initiative, he said, would give a big push to disruptive technologies such as artificial intelligence, robotics, blockchain, virtual and augmented reality and make Maharashtra the cradle of the fourth industrial revolution. “What China could achieve with its manufacturing revolution, India can achieve much more and quickly in the services-led fourth industrial revolution,” Ambani said at the global investor summit, Magnetic Maharashtra.
He, however, didn’t reveal any details about the proposed integrated digital project.
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#Export growth positive for third time in a row; imports climb 26.1% outpacing exports, which rise by 9%
The country’s goods trade deficit widened to $16.30 billion in January 2018 from $9.9 billion in the same month a year ago and $14.88 billion in the previous month owing to imports outpacing exports, data released by the commerce ministry on Thursday showed.
The January trade deficit is a more than three-year high. It was $16.86 billion in November 2014.
Exports for January went up by 9.07% year-on-year to $24.38 billion. However, goods imports rose 26.1% to $40.68 billion.
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#US stocks gain for 5th straight day, Dow +1.2%

Wall Street stocks enjoyed more solid gains Thursday, climbing for a fifth straight session and shrugging off fresh data showing higher inflation.
The Dow Jones Industrial Average rose 306.88 points (1.23 per cent) to end the day at 25,200.37.
The broad-based S&P 500 jumped 32.57 points (1.21 per cent) to close at 2,731.20, while the tech-rich Nasdaq Composite Index advanced 112.81 points (1.6 per cent) to 7,256.43.
The gains suggest Wall Street is beginning to regain confidence after a major selloff earlier this month briefly sent major indices down more than 10 per cent which is considered correction territory.
"The correction has seemed to end quickly," said Alan Skrainka, chief investment officer at Cornerstone Wealth Management.
The pullback was ignited after the January jobs report showed strong wage gains, which raised worries the Federal Reserve would accelerate interest rate hikes in response to increased inflation.
But the market appears to have pivoted and dismissed this worry, at least for now.
The Producer Price Index, which tracks the cost of wholesale goods and services, rose 0.4 per cent in January, matching analyst expectations, according to the Labor Department report released prior to the market open.
Wholesale prices for outpatient health care and bus fares rose, as did gasoline, diesel, electricity, iron and steel scrap.
Among blue-chip companies, big winners included Apple, Boeing, Cisco Systems and United Technologies, which all rose more than three percent.
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#Amazon's restructure in US to have ripple effect in India? Job cuts a possibility, hints report
According to reports, this move is likely to have an impact on Amazon's India operations. The rare job cut comes as the company is shifting resources to areas like Alexa. According to reports in the US media, the company is making head-count adjustments across the country and is part of its annual planning process, as said to them by Amazon.
According to a report in The Economic Times, there have been some developments and restructuring in the India business as well. Some employees have been let go, some have been put under performance review plans, while some have been moved internally to different roles.
A source mentioned to the newspaper that Amazon had 'over hired' in India and might now trim the operations. In 2017 alone, the company created 1,30,000 jobs globally. Its full-time and part-time headcount surged 66 percent in the fourth quarter to 5,66,000 from a year earlier.
However, the report mentions that Amazon India said that they continue to hire for their headcount requirements in the country. Amazon has stiff competition from home-grown giant Flipkart, so, it is unlikely that the India unit would see a lot of change.
The company has a strong workforce in India with 50,000 employees out of which 30,000 are delivery people and warehouse employees. It is Amazon's second-largest workforce in the world after US.
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#Government Should Reduce Capital Gains Tax Window

Indian Real estate sector has gone through major transition in last one year with demonetization, GST implementation and RERA effect of which has been mixed bag on the sector. Under housing for all by 2022 the movement initiated by government regarding credit link subsidy scheme (PMAY) will entitle the buyers (who have an annual income of less than Rs. 18 lakh per annum) to an interest subsidy against home loan payments. Along with this recent move of giving concessional GST rate of 8 % to affordable housing segment vis-a-vis 12% to overall real estate project has been a very cheerful move for buyers in the lower income group.
However government should consider extending this concessional GST rate of 8% to overall real estate projects as there is a huge gap with 12 % GST on project revenue being higher than 18% GST paid on construction linked product and services resulting in higher GST collected from buyers though the input credit benefit eventually gets passed on to the buyer by developer. However by applying 8% rate on GST to be collected from the buyers, developer shall be collecting GST equivalent to its output GST for construction only resulting in lower capital requirement at buyers level thus boosting demand.
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