India On Path of Reform ………Pm Modi at Global Investors Summit – Top 10 Quotes!
Karma Management Global Consulting Solutions Pvt. Ltd. is one of the top 5 consultancy firms, established in the year 2004, with headquarters in the business district of Santacruz East, Mumbai, India, and full-scale operation in all the States, having about 200 direct and indirect staff on its roll, is a leading service provider for payroll and payroll compliances, outsourcing, facility services, HR services, Training & Development, Recruitment & Talent Acquisition, Legal and Para legal services, Disputes and Litigation Handling, Inspection Management and Liaising, Advisory Services, Social, Environment and Vendor Audits, Regulatory Compliances ad Governance.
Compliance with labour and employment laws has become one of the most important issues that many establishments in India have to deal with. Many of employment disputes result in litigation and take a prolonged time for effective conclusions. Karma Global is an Indian HR, Payroll, and Compliance Firm advising clients worldwide on local, regional and global regulatory compliances in relation to their business goals, business strategies, and resolving disputes.
It gives valuable suggestions and advice to Corporates, Investors, Institutions, Contractors, Establishments, Industries, etc. on the need for lowering employment risk across all levels and adhering to the laws of the land. It has a lot of expertise on employment-related compliance issues, as well as day-to-day support for Human Resource Services with in-house Counsel.
Karma Global is also into employment agreements and policies, structuring of compensation and benefits, employment aspects of merger and takeover, etc.
Karma Global’s force, strength, and reach have brought in tremendous change over from its earlier image of being a consultancy firm in the period of 2000, to now embarking on setting strategies and practices abroad in highly regulated markets and competing in the global arena.
With India overtaking the UK to emerge as the fifth largest economy in the world and setting to become the third largest by 2029, Karma Global is all poised for long-term value in terms of client outreach and giving state-of-the-art technology and excellent services to global clients better than ever before.
According to Morgan Stanley, India is moving towards becoming the world’s third-largest economy in the next 4-5 years, while the CEO of McKinsey has said this is not only India’s decade, but India’s century.
India On Path of Reform ………Pm Modi at Global Investors Summit – Top 10 Quotes!
Madhya Pradesh – Global Investors Summit 2023!
Prime minister Narendra Modi addressed the ‘Invest Madhya Pradesh – Global Investors Summit 2023’ via video-conferencing on Wednesday and hailed the country’s economic growth, saying that the International Monetary Fund sees India as a ‘bright spot’ in the global economy. He also said India has been on a ‘reform, transform and perform’ path since 2014.
Here are PM Modi’s top quotes from his address at the Global Investors Summit 2023:
- The Global Investor Summit in Madhya Pradesh is being conducted at a time when India has entered into the ‘Amrita Kaal’. We are moving ahead on a path to build a ‘developed India’.
- The IMF sees India as a bright spot in the global economy. The World Bank says India is in a better position to deal with global headwinds (compared to other countries). This is all because of India’s strong macroeconomic fundamentals.
- OECD says India will be among the G-20’s fastest-growing economies this year. According to Morgan Stanley, India will be the world’s third-largest economy in the next four-five years.
- Not only Indians, but every person and every organization in this whole wide world is altogether confident about India’s development and unprecedented progress. When we talk about a ‘developed India’, it is about the ‘aspiration’ of all Indians and also their ‘resolution’.
- A stable and decisive government, and a government run with the right intentions, gives unprecedented speed to development.
- In eight years, we have doubled the pace of the construction of national highways. During this period the number of operational airports in India has doubled. There has been an unprecedented improvement in India’s port handling capacity and port turnaround.
- Today’s New India is going ahead by also trusting its private sector. We have opened several strategic sectors like defence, mining, and space for the private sector.
- The institutions and credible voices that track the global economy have unprecedented confidence in India. The same optimism is also displayed by global investors. According to a recent survey, the majority of investors prefer India, and record FDIs is its proof.
CONCLUSION – GDP will grow by 7% in the fiscal ending March!
Second only to Saudi’s 7.6 percent growth!
As per the first official estimate released by the Ministry of Statistics and Program Implementation, the Gross Domestic Product (GDP) will grow 7 percent in the fiscal ending March.
“Real GDP or GDP at Constant (2011-12) Prices in the year 2022-23 is estimated at ₹157.60 lakh crore, as against the Provisional Estimate of GDP for the year 2021-22 of ₹147.36 lakh crore, released on 31st May 2022. The growth in real GDP during 2022-23 is estimated at 7.0 percent as compared to 8.7 percent in 2021-22,” said the statement released by the Ministry of Statistics and Program Implementation.
This is comparable to with 6.8 percent expansion forecast by the Reserve Bank of India, as well as the median estimate in a Bloomberg survey of economists.
As the ministry’s statement reads, this performance of the Indian economy follows an 8.7 percent pace of expansion in the previous year and will be second only to Saudi Arabia’s expected 7.6 percent growth.
This advance estimate released by the Ministry of Statistics and Program Implementation is used by the Indian government to decide its spending priorities in the upcoming union budget that will be presented on February 1, 2023. This will also be the last full-year expenditure plan of Prime Minister Narendra Modi’s government before elections in 2024.
Even though India started on a good note in the current fiscal year, the monetary policy tightening by the Reserve Bank of India and other central banks of major economies to contain inflation seems to be tampering with growth in major economies including India.
The RBI has already raised the repo rate by 225 basis points so far this fiscal, and it’s very likely to announce another hike after its policy review meeting that is scheduled between February 6-8.
Karma Global is a fully homegrown successful Outsourcing and Labour Laws Organization, operating both with contract employees as well as with permanent types of employees who are placed in the locations of global and domestic clients.
Karma Global has traditionally been a dynamic Regulatory Compliance driven organization with an integrated and up to mark the approach to HR Services.
Karma Global has always set its sights on keeping a tab and interpreting the regulatory changes in the manner required by authorities with a focus on the implementation of these new rules coupled with the adeptness to sophisticated technology, which has placed them in the top 5 consulting organizations today as far as HR Service Organization is concerned.
Karma Global’s experts sitting in various offices and catering to over 500 clients are fully intertwined with the workflow and processes that are leading most of its clients to convert their value drivers into the transformation of their businesses and objectives for effective results.
Karma Global’s technology securely integrates regulatory compliance across all types of businesses from trading to operations to investor services to financials and banks while also providing the clients access to these technologies with the power to control process operations with a dashboard and ready updates on the workflows done monthly and timely as per stipulated dates set by the authorities.
The greatest satisfaction comes from the outflow of communication to clients for future reviews and analysis of the monthly work done with data visualization tools that surface their activities done by the professional teams of Karma in its Corporate Headquarters in Mumbai and Branch Offices in Bangalore, Tamil Nadu, Gurgaon, Gujarat, Pune, etc.
Proprietary blog of Karma Global Tech Management LLC
This blog has been collated and compiled from various sources, adaptations, and illustrations by the internal staff of Karma Global with the knowledge and expertise that they possess, for its monthly newsletter Issue 08 of February 2023, and in case of specific or general information or compliance updates for that matter, kindly reach out to the Marketing Team – Kush@karmamgmt.com / yashika@karmamgmt.com