WEF: FM Jaitley to speak on country's economic outlook soon

All the lowdown on the three-day India Economic Summit

3:33 PM

Meanwhile, US-based payments company Mastercard said it is open to acquiring companies in India and will invest $800 million over the next 4-5 years.

CEO Ajay Banga said, "We have bought a couple of companies in India... that’s where the investments have been in the last 2-3 years. We are continuing with that. We are in the process of looking at other acquisitions and also organic investment."

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3:29 PM

Goyal added, "People have realised that it pays to be honest to move the formal economy as transactions are becoming cheaper in digital India. The government didn't have to force anyone to make that shift."

3:12 PM

Goyal said, "We have an opportunity to lead the world in digitisation. That is one big outcome of demonetisation."

3:10 PM

Piyush Goyal said, "The country got too used to cash, the good thing that happened is that we are moving towards digitisation."

3:07 PM

2:56 PM

Terror organisations such as the UN designated entities — the Islamic State, Al Shabaab, Al Qaeda, Boko Haram, LeT, JeM — continue to expand their reach across continents destabilising entire regions through their cross-border financing, propaganda, recruitment over cyberspace and social media, he told the UN committee.

2:53 PM

India calls for closer and real-time intelligence sharing, coordination of operations and technology assistance to address the increasing challenges posed by transnational crime organisations.

2:43 PM

Minister of Railway and Coal Piyush Goyal and Mastercard’s CEO Ajay Banga discuss India’s transformation to a cashless society

 

 

 

2:40 PM

2:34 PM

2:32 PM

Check out the pictures of the World Economic Forum HERE

12:48 PM

Adi Godrej said, "However, production might have taken place but it was not shown. For example, on Godrej's coumer product — toilet soap —GST rate was lowered by 7-8 per cent as compared to the earlier combination of excise duty and VAT."

12:43 PM

Chairman of the Godrej Group Adi Godrej on Indian economy: "Doubts on reforms started when we (India) published the April-June GDP growth. In June, we had a low-growth rate due to the implementation of the goods and services tax (GST)."

12:36 PM

12:15 PM

Click here to read more on what Sumit Mittal said