This country becomes World's 2nd biggest stock market.

According to Reserve Bank of India (RBI)'s annual data, Mauritius accounted for the largest source of Foreign Direct Investment (FDI) into India in the financial year FY18 followed by Singapore. The data shows that the total India's FDI stood at $37.36 billion in the FY18, which is a marginal rise over the $36.31 billion recorded in the previous fiscal FY17. The provisional data for the financial year ended March revealed that FDI into the manufacturing sector witnessed a substantial decline to $7.06 billion, as against $11.97 billion in the year-ago period. However, FDI into communication services rose to $8.8 billion in 2017-18 as compared to $5.8 billion.

The World Bank projected India' GDP, expected to grow at 7.3% in the fiscal year 2018-19, and 7.5% in the following two years. The Bank said India will continue to be the fastest growing major economy in the world. In India, the growth has accelerated, driven by an upswing in consumption, and investment growth has firmed as the effects of temporary factors wane, the World Bank said in its latest report. Domestic demand has strengthened as the benefits of structural reforms such as Goods and services Tax (GST) harmonization and bank recapitalization take effect. In 2018,China's Projection is 6.5 and 6.2% each in 2019 and 2020 and 6% in 2021, according to the January 2019 Global Economic Prospects report released by the World Bank. Strong domestic demand is envisioned to widen the current account deficit to 2.6 per cent of GDP next year. The World Bank's estimate suggest that India's potential growth rate is around 7%, and is expected to remain around 7%.

Growth Outlook for 2019', Confederation of Indian Industry (CII) stated that India will remain the fastest growing major economy with GDP growth estimated to be 7.5% in FY19. The reasons cited for the growth are: Better demand conditions, settled GST implementation, capacity expansion resulting from growing investments in infrastructure and better credit inflow especially in the service sector (that is of 24%). Additionally, CII had suggested the following: only three slabs for GST - a standard rate, a higher rate for demerit goods and a lower rate for some mass consumption items - and the inclusion of fuels, real estate, electricity and alcohol in the ambit of the levy. RBI to have lending restrictions on banks under the PCA (prompt and corrective action) and create a limited special liquidity window to meet emergencies of financial institutions. the digitization of land records.

China, UAE, Cyprus and significantly, Mauritius, along with 21other countries have been tagged as "high-risk jurisdictions" by global banks acting as custodians for foreign funds which comprise the largest group of investors in the Indian stock market. Large investors and beneficial owners of these funds entering India through these high-risk jurisdictions will face close scrutiny while non-resident Indians and persons of Indian origin will run into new hurdles in participating in funds set up in these countries for trading on Indian exchanges.

The Cabinet Committee on Economic Affairs cleared at an outlay of Rs.1,623 crore to get more disaster warning systems and desalination plants along Indian coasts. The system will be functioning under the programme called O-SMART (Ocean Services, Technology, Observations, Resources Modelling and Science). O-SMART is monitored by the Union earth sciences ministry. O-SMART provides economic benefits to a number of user communities in the coastal and ocean sectors, namely, fisheries, offshore industry, coastal States, defence, shipping, ports, etc.

India achieved another milestone when Indian Stock market overtakes Germany for the first time in seven years to become the world's seventh largest stock market. This move reflects India's positive returns this year as companies dependency on domestic demand enabled them to avoid meltdown in other emerging markets spurred due to U.S. - China trade war. South Asian Giant, India is projected to grow at 7.5 percent in 2018 and 7.3 percent in 2019 whereas Germany managed to achieve a growth rate of only 1.6 percent in 2018. After the exit of United Kingdom from European Union, now European Union has only one country in top seven economies of the world - France.

As per Ficci's survey 'Ficci's Economic Outlook Survey', the Indian economy is expected to grow at 7.4 per cent in the current fiscal. It projects that GDP will grow at 7.4 per cent for 2018-19, with a minimum and maximum range of 7.1 per cent and 7.5 per cent, respectively. The economic activity on the first quarter of the current fiscal would be 7.1 per cent. The study further said the median growth forecast for agriculture and allied activities has been put at 3 per cent for 2018-19.

Current account deficit (CAD) of India has widened to 2.5% of GDP in the 3rd quarter of the current fiscal year primarily on account of a higher trade deficit though the foreign exchange reserves which continued to soar. Current account deficit has been widened merely 0.4% from 2.1%, a year ago. The CAD had moderated to USD 19.1 billion or 2.9 per cent of GDP in the preceding quarter.

The tax dispute between the government of Tamil Nadu and the Renault Nissan Alliance India before the Madras High Court is in settlement talks stage and chances are that it will be settled outside the court, according to representatives of both the sides.

National Stock Exchange of India (NSE) got regulatory approval from SEBI to launch copper large futures contract. The copper large futures contract will have a trading unit of 25 tonne at par with international commodity markets. It is one of the highest traded contracts and is considered as the global benchmark. With this, NSE aims to provide an onshore hedging platform to large Indian corporates, refiners and various users in the value chain.