Kamath also served on the board of Infosys.
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.
As India's stock rises, the resolution of the border row may become even more difficult, warn Harsh V Pant and Kalpit Mankikar.
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.
There is a congruence of interests between Ukrainian intelligence and its Western mentors to destroy Wagner and eliminate it from the geopolitical chessboard altogether, argues Ambassador M K Bhadrakumar.
Prime Minister Narendra Modi on Tuesday told Russian President Vladimir Putin that a solution to the Ukraine conflict is not possible on the battlefield and peace efforts do not succeed in the midst of bombs and bullets even as he flagged concerns over a missile strike on a children's hospital in Kyiv.
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.
Once the Canadian investigation runs its course, Ottawa may put on the public domain further accusations passing for "evidence" -- and that could happen at some point closer to our general election. All in all, the big question is, what is it that the US is really up to, asks Ambassador M K Bhadrakumar.
Both Putin and Zelenskyy have invited the prime minister to visit Russia and Ukraine respectively after the Lok Sabha elections, sources said, adding they see Modi as a "peacemaker".
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.
China on Wednesday said the latest round of the border talks with India was held in a "candid and pragmatic atmosphere" and the two sides had a "positive, constructive and in-depth discussion" on the resolution of the remaining issues along the Line of Actual Control in the Western Sector.
Today, with China centrally seated and located, the Global South has an intriguing road ahead. Odds of it becoming a Chinese bloc in the emerging new bipolar world are higher than we'd wish them to be, observes Shekhar Gupta.
India on Monday pressed for early disengagement of troops in remaining friction points in eastern Ladakh during a fresh round of high-level military talks with China, people familiar with the matter said.
Rating agency says the country may lose its investment-grade status on growth concerns; finance ministry begs to differ
The revenue of Indian software market was at $4 billion in 2014.
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.
'The group commands 85 per cent of the global GDP, and if you are able to convey your point of view effectively to this group then you have reached more or less all the important players that matter.'
While Narendra Modi spent fewer days abroad than his predecessor -- 275 days versus Dr Singh's 306 - he has travelled more widely than any other Indian PM.
'The future of BRICS is under stress as Chinese attempts to expand the platform are being resisted by India and Brazil.' 'Beijing is focused on a quick expansion with the aim of giving the platform a distinctly anti-Western orientation, which New Delhi and Brasilia seem to have no interest in,' notes Harsh V Pant.
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.
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.
If it continues to do well economically, develops a large manufacturing sector, gains in technological heft, builds a more capable defence industry, improves its human development indicators, becomes more of a trading nation, and has greater internal cohesion. In short, it is a work in progress, suggests T N Ninan.
In an interview with Newsweek magazine of the US, Modi said for India, the relationship with China is significant.
'We will likely never know why Xi decided not to travel to New Delhi. One possible explanation could be his desire to avoid a meeting with US President Joe Biden.'
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.
'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'
'ISRO Chairman Dr. Somanath's leadership truly created history and we extend our hearty congratulations to him and his team,' Venugopal said on X, formerly Twitter.
India is now on the Moon and the success of the lunar mission has sounded the bugle for the emergence of a developed nation, Prime Minister Narendra Modi said on Wednesday as Chandrayaan-3 landed successfully on the lunar surface.
The talks are following up the outcome of the 19th round of Corps Commander-level talks held between the two sides on August 13-14 at the Chushul Moldo border meeting point.
EAM Jaishankar's mission is aimed at strengthening India's strategic autonomy in a complex international environment, observes Ambassador M K Bhadrakumar.
External Affairs Minister S Jaishankar on Monday held wide ranging discussions with Iranian counterpart Hossein Amirabdollahian in Tehran and their discussion focused on the long term framework for India's involvement with the strategically vital Chabahar port and the North-South connectivity project.
Russian oil supplies to India will continue to flow unhindered and suppliers will come up with ways to sidestep secondary sanctions, a Russian official told Business Standard.
Prime Minister Narendra Modi was accorded a warm reception as he arrived at the Indian Space Research Organisation headquarters in Bengaluru on Saturday morning.
The hotel has currently turned into a high security zone with guests living there moved out to other facilities of the Taj group.
Russia proceeds "from the postulate, a negotiated solution to the Palestinian-Israeli conflict has no alternatives," said Putin while speaking at the Commonwealth of Independent States summit in Bishkek, Kyrgystan on Friday.
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 message that India has conveyed since the start of this conflict is clear and consistent. It is important to prevent escalation to ensure continued delivery of humanitarian aid and to work towards an early restoration of peace and stability. A peaceful resolution of the conflict through dialogue and diplomacy is the only way forward'
