In Brief

Ashton Carter visit: India, US to sign 2015-25 Defence Framework pact

- by India Writes Network

Ahead of his upcoming visit to India next week, US Defence Secretary Ashton Carter said America was looking for ways to complement India’s Act East policy and cooperate in important areas of the Asia Pacific region.

Dr Carter will sign the 2015 US-India Defence Framework, which will further enhance the two countries’ defence cooperation across various areas- from maritime security to aircraft carrier and jet engine technology. He will also visit the Eastern Naval Command at Vizag in Andhra Pradesh.

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India’s economic growth outpaces China’s in 2nd quarter

- by India Writes Network

he Indian economy grew at 7.3 percent in 2014-15 compared to 6.9 per cent in 2013-14, making it the second straight quarter during which it grew at a faster rate than that of China.
According to reports released by the Central Statistics Office (CSO) on May 29, the economy surged primarily due to the improvements in the performance of service as well as the manufacturing sector. Although the GDP growth saw a marginal surge during 2014-15, it was lower than the earlier estimated figure of 7.4 percent. The fourth quarter (January-March 2015) recorded the highest percentage growth at 7.5 percent, better than 6.6 percent recorded in the previous quarter.
The manufacturing sector showed better improvement in 2014-15, as it grew at 7.1 percent against 5.3 percent recorded in the year 2013-14. The output of electricity, gas, water supply and other utilities increased by 7.9 percent against 4.8 percent in the previous year.

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