News in numbers, Apr 22, 2016: FDI into India in 2015, Time’s list of 100 most influential people…

$63 billion

What is it? Foreign direct investment into India in 2015.

Why is it important?  It’s more than what China, which has been a huge magnet for greenfield capital investments last few decades, received during the same period. China attracted $56.6 billion in 2015, spread over 789 projects. India’s $63 billion was spread over 697 projects. The FDI has created 2.25 lakh new jobs in 2015 in India (compared to 1.6 lakh new jobs in 2013).

Tell me more:  The report is from fDi Intelligence, data division of Financial Times. The report said the Asia Pacific region accounted for 45% of all greenfield investments, taking in $302.5 billion and 3883 projects.

 

25%

What is it? The stake United Kingdom government is willing to buy in Tata Steel’s UK business.

Why is it important?  It might help Tata find a credible buyer, and in turn, help UK save about 15,000 jobs. Tata has been trying to sell its UK steel business, bought through its $12.9 billion acquisition of Corus Group in 2007. The business has turned sour with rising costs, drop in steel demand and cheap imports from China as well as a series of internal issues.

Tell me more:  Earlier this month, Greybull Capital offered to buy its long products business for one pound, and possibly save around 4,400 jobs. Tata Steel is in talks with a number of potential buyers.  

 

$42 million

What is it? The penalty on West Indies Cricket Board that BCCI (Board Of Control For Cricket In India) has now waived. It was imposed on WICB for West Indies team abandoning the 2014 tour midway.

Why is it important? This brings an end to a long spat between West Indies and India. The unfinished games will be played next year, as it was hinted last December. It also clears ground for more matches between the two teams since BCCI had suspended all bilateral tours till the issue was resolved.

Tell me more:  In 2014, West Indies, under captainship of Dwayne Bravo, had abandoned its tour in India midway over payment structure dispute between the players, WICB and West Indies Players’ Association.

 

> 150

What is it? The number of countries that will sign the Paris Climate Agreement on Friday, 22 April Earth Day in New York.

Why is it important? It’s the first significant step in taking forward the landmark deal struck in Paris last December, which seeks to limit the global temperature rise to below 2 degree C. It comes at a time when the effects of global warming are causing increasingly more concern. For example, the first three months this year has been the hottest ever.

Tell me more:  While it’s a significant first step, experts believe countries need more ambitious plans to tackle the impact of climate change – heat waves, food shortages and fast rising seas.  

 

6

What is it? The number of Indians in Time magazine’s 2016 list of 100 most influential people.

Why is it important? It’s a sign of soft power and widely followed and debated in India, even if the process of measuring people’s influence or someone making it to the list is far from perfect. Raghuram Rajan, Priyanka Chopra,  Sania Mirza, Sachin Bansal, Binny Bansal, Sunita Narain made it to the list. Prime Minister Narendra Modi, widely expected to be in the list, did not.

Tell me more: The first Time 100 list was published in 1999, with a list of 100 most influential people of 20th century. (Albert Einstein was ranked number 1, followed by Mahatma Gandhi). US President Barack Obama holds the record for maximum appearance, making to the list 11 times. The 2016 list also featured Aziz Ansari, Sundar Pichai, Raj Panjabi and Nikki Haley, all persons of Indian origin.

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News in numbers, Apr 21, 2016: India’s poverty rate, unethical means to meet financial targets…

$5-6

What is it? The amount of tax India’s environment minister wants developed countries to levy per tonne of coal production.

Why is it important? It could help mobilise $100 billion a year until 2020 to help developing countries such as India to tackle climate change. This is as per the Paris agreement signed last December.

Tell me more: India increased taxes on coal mining in February to $6 per tonne from $1 a tonne to limit its consumption. The country, which claims to levy the highest tax on coal mining, wants to double its coal output in another four years.

<=Rs 38

What is it? The amount on which nearly half of the Indian population (47%) lived on, in 2011-12, as per data by Global Consumption and Income Project.

Why is it important? Indicates India may have more poor people than official estimates suggest. The official poverty rate is 22%, that is, the percentage of population with less than Rs 27 per day in rural areas and Rs 33 per day in urban areas in 2011-12.

Tell me more: With $1.9 (or roughly, Rs 29) per day as the poverty line, which is closer to the official numbers, the poverty rate works out to be 28%, higher than the official estimates. No matter which poverty line one adopts, poverty rates have declined over years. The moot question: by how much.

5,134 tonnes

What is it? The quantity of gold held in Bank of England gold vaults under the streets of London stretching across 300,000 square feet.

Why is it important? These hold over 80% of the 6,256 tonnes of gold stored in London, which in turn, is a fifth of the total gold held by governments in the city. Investors turn to gold, one of the most traded assets, which is considered a safe haven during times of financial uncertainty.

Tell me more: These vaults still need a bunch of keys to be accessed with minimal dependence on technology for security measures, which some believe is easier to be compromised.

> 2,000

What is it? The reported number of courses that India’s own MOOCs (massive open online courses) platform will have.

Why is it important? It’s widely accepted that MOOCs will play a major role higher education globally, and India’s online education initiative – Study Webs of Active-Learning for Young Aspiring Minds (SWAYAM) – could potentially bring advanced courses relevant to India in local languages to millions of students of all ages.

Tell me more: Others such as Coursera and edX offer such free online courses from various universities across the world, though some of them charge for receiving verified certificates upon completion of the courses. Only 8.15% of Indians are graduates. It was estimated that India would have 402 million internet users by last December to overtake US and become the second largest internet user base in the world.  These online courses would be reportedly backed by patents and each faculty member is likely to be paid Rs 1 lakh per course.

70%

What is it? The share of Indian executives who feel at least one unethical conduct is justified to meet financial targets, according to an Ernst & Young survey.

Why is it important? This is much higher than the numbers recorded in other regions. Indian executives are most likely to bend or flout rules on every single unethical conduct than their counterparts to achieve targets. For instance, 30% of Indian executives would book revenues earlier than they should be, compared to 7% globally, 9% in emerging markets and 4% in developed markets.

Tell me more: According to a KPMG-CII 2014 report, corruption was cited as the major obstacle in doing business in India.

 

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