Top economic news of the day

India Infoline News Service | Mumbai |

The government launched an exchange-traded fund of 10 blue chip state-run companies, hoping to mop up about Rs30bn for its disinvestment plan.

The government launched an exchange-traded fund of 10 blue chip state-run companies, hoping to mop up about Rs30bn for its disinvestment plan. The open-ended central PSU fund offers a 5% upfront discount to all the investors. (ET)

India’s travel and tourism industry is set to grow by about 7.3% in 2014, better than last year, but average spending by foreigners travelling to the country could decline sharply, according to the World Travel & Tourism Council. (ET)

About three of every four insurance policies sold by 2020 would be influenced by digital channels during pre-purchase, purchase or renewal stages, according to a report by Boston Consulting Group and Google India. (BS)

India’s sugar output had fallen 8% this season, compared to a year before, due to the earlier delay in commencing of cane crushing. Data from the Indian Sugar Mills Association showed 19.4mt of output, compared with 21.1mt in the corresponding period last year. Isma lowered its production forecast for this season by 5% to 23.8mt. (ET)
 

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