Western business is not fully prepared for the imminent impact of emerging markets but India is perceived as the most comfortable "Brics" economy in which to do business, a new study found.
The announcement of the formation of the BRICS bank will have as much an impact about how the non-G7 countries manage their economies and their foreign reserves, as it does on the intellectual discourse. The development priorities and agenda which was hitherto set by western experts responding mostly to western priorities and notions will now have to compete with an intellectual tradition that is and can be very different, says Mohan Guruswamy.
Declaring India's readiness to contribute to global efforts to overcome the economic crisis, Prime Minister Manmohan Singh arrived in Yekaterinburg on Monday night to attend the Summits of Shanghai Cooperation Organisation and Brazil-Russia-India-China.
The impact of the sell-off on local equity markets was widespread among developing countries, but some were hurt more than others. Russia emerged as the worst performer among the four BRIC nations and saw the highest 72.5 per cent decline in local currency terms during last year.
Prime Minister Narendra Modi on Saturday unequivocally said that repatriation of black money kept abroad is a "priority" for his government, as he sought close global coordination to achieve this objective.
The government is "extremely disappointed" with the latest report of the Moody's rating agency on India's economic outlook. The report, a senior government official said, was highly contradictory and called the rating agency's credibility into question. Referring to the Moody's statement that "India's fiscal strength remains a key weakness in the sovereign credit profile...", the official remarked: "How can my strength be my weakness? Moreover, they are unwilling to have a like-to-like comparison with India."
'The two sides should support rather than undermine each other, strengthen cooperation rather than guard against each other, and enhance mutual trust rather than be suspicious of each other'
Rating agency says the country may lose its investment-grade status on growth concerns; finance ministry begs to differ
Brazil, Russia, India and China, also known as the BRIC group of countries, are expected to overtake the rich countries in primary energy consumption by 2030 and worsen their environmental calamities, Paris-based Organisation for Economic Cooperation and Development has warned. The OECD estimates suggest that 63 per cent population in the BRIC countries is living under medium to severe water stress and this share is expected to increase to 80 per cent by 2030.
The revenue of Indian software market was at $4 billion in 2014.
India and China on Monday held a fresh round of military talks with a focus on disengagement of troops in the remaining friction points in eastern Ladakh and ease overall tensions in the region.
Users jocularly wondered if the name of institutions such as the Indian Space Research Organisation, the Reserve Bank of India and the Board of Control for Cricket in India will be changed.
After factors such as tax and cost of living are taken into consideration, corporate India's top brass can boast of an average disposable income of just $92,750 compared to other fast growing economies like Brazil, Russia and China.
Modi knew in his heart that India does not have the financial muscle to support the new bank with offers of co-financing international projects, something China can do from the bank's base in Shanghai. If established in Mumbai, it may have employed a few Indian bankers and satisfied the national ego but there was little financial value to be drawn from it.
In a giant leap for its space programme, India's Moon mission Chandrayaan-3 touched down on the lunar south pole at 6.04 pm on Wednesday, propelling the country to an exclusive club of four and making it the first country to land on the uncharted surface.
India is set to press for early disengagement of troops from the remaining friction points in eastern Ladakh at a fresh round of high-level military talks with China on August 14, people familiar with the matter said on Saturday.
In the latest research note titled 'For Richer, For Poorer Global Patterns of Wealth', Ernst & Young said emerging economies have seen their share of global output and wealth rise significantly over the last few years, driven by faster growth, rising income, high savings ratios, strong investment and export. In the next decade, the BRIC countries are likely to contribute 40 per cent of global growth, while the US would account for around 14 per cent.
India has not yet received any confirmation on Chinese President Xi Jinping's in-person participation at the upcoming G20 summit, people familiar with the matter said on Thursday amid reports that he is likely skip the conclave.
Indian troops are defending every inch of the border with China and not even a single inch of land has been taken over by the neighbouring country in recent years, Ladakh Lt Governor Brig (retd) B D Mishra said on Thursday.
Out of the 1.7 billion expected subscribers in BRIC nations, India is likely to have 560 million mobile users, while China is expected to top the chart with 800 million, a report by eMarketers said. India would be followed by Russia with 189 million users and Brazil at 176 million.
'The cost of financing the fiscal deficit will decrease, as new passive investors join in.'
His government's decision to host G-20 events across the country is an investment in capacity-building among people, cities and institutions, Prime Minister Narendra Modi has said, as he took a jibe at previous governments asserting they lacked confidence in people's abilities to hold mega events outside the capital, in smaller places.
Two days ago, the Chinese foreign ministry following a meeting between NSA Ajit Doval and top Chinese diplomat Wang Yi in Johannesburg claimed that Xi and Modi had reached an 'important consensus' on stabilising bilateral ties at the interaction on the margins of the G20 Summit last November.
'Global coordination, convergence, market complexities and dynamics and cross-border enforcement compound the existing challenges we face.'
Qin, 57, was made the foreign minister in December last year, superseding many seniors, earning the distinction of a rising star in the ruling Communist Party of China.
According to leaders of these economies who were speaking at a session at the 44th World Economic Forum Annual Meeting in Davos, the BRICS economies would rebound over the next few years, despite having been hit to varying degrees by fallout from the global financial crisis.
Jaishankar said that he can talk for himself and does not do politics while travelling abroad.
'You ain't seen anything yet,' EAM Jaishankar says about the India-US relationship.
The summit is being attended by more than 30 heads of state and top officials from the European Union and invited guest countries and 14 heads of international organisations.
The Chinese inference is that if the Chinese visa is embossed on an Indian passport, held by Indian citizens from Arunachal Pradesh, it may be tantamount to recognising Indian sovereignty over Arunachal Pradesh, states Rup Narayan Das.
China's Foreign Minister Qin Gang has not been seen in public since June 25. Is he unwell, or has he been purged?
Addressing a symposium on the international situation and China's foreign relations in 2022, Wang said both countries have maintained communication through diplomatic and military-to-military channels.
India is better positioned to face external shocks emanating from increasing geopolitical tensions, the aftermath of the COVID pandemic and the inevitability of climate change, Reserve Bank Deputy Governor Michael Debabrata Patra said on Monday. Relative to macroeconomic configurations in 2013 when India was described as one of the fragile five countries, he said, "India is better positioned currently, as its macroeconomic fundamentals have improved significantly, and external sector indicators point to the availability of enough cushions to manage external shocks." He was speaking at a conference on 'Growth And Development in the BRICS Economies' organised by the Delhi School of Economics (DSE) and the Indian Statistical Institute (ISI).
'Wang Yi said the border issue is important and we should stay committed to peacefully addressing it through consultation and coordination.'
The hotel has currently turned into a high security zone with guests living there moved out to other facilities of the Taj group.
China has signalled that it will prevent India from assuming leadership of the Global South, observes Ambassador T P Sreenivasan.
It is for China to decide what role it plays at the G20 summit in New Delhi, a top US official has said, asserting that if Beijing wants to come in and be a "spoiler", that option is available to it.
'As part of our D33 strategy, the plan is to establish 30 unicorns in Dubai within the next 10 years.'
August 23, the day the Chandrayaan-3 lander touched down on the lunar surface, would be celebrated as 'National Space Day'.
India would not be seen to be anything but rude with the Pakistanis. In the big picture, who is the bigger adversary right now? Who is the bigger pain in the neck? And who is it that is keeping more than 3,000 km of our borders active, throwing our military posture and deployments into imbalance? asks Shekhar Gupta.
© 2026 Rediff.com - Investor Information - Advertise with us - Disclaimer - Privacy Policy - Sitemap - Feedback - About us - Terms of use - Grievances