Observing that the economic weight of emerging powers like China, India and Brazil gives them clout in financial and political sphere, a top United States official has said that the Obama Administration has decided to develop 'a positive-sum trajectory' with these key global players.
Experts believe that though the fastest-growing economies of China and India have suffered some moderation, they are showing much more endurance than the other two countries in the BRIC pack -- Brazil and Russia. India's GDP growth has contracted from a quarterly peak of 9.7 per cent in the fourth quarter of 2006-07 to 5.3 per cent in the third quarter of the current fiscal, pulled down by decline in manufacturing and farm production.
Taiwan considers itself a sovereign state -- but China views the self-ruled island as a breakaway province. Beijing has not ruled out the possible use of force to achieve unification.
In what is seen as the first sign of China's exasperation over Russia's Ukraine war, Chinese President Xi Jinping on Thursday raised 'questions and concerns' over the conflict in his meeting in Samarkand with Russian President Vladimir Putin who thanked Beijing for its 'balanced position' on the crisis.
The simple truth is that BRICs are still too small to be global locomotors unless they sustain double digit growth, which they manifestly can't in the present environment. Of course, the fact that the Asian BRICs are still expected to enjoy moderate growth in 2009, is itself testimony to their resilience in the face of global recession.
Brazil and other developing nations are growing anxious about the expected withdrawal of stimulus in the United States
The South African Health Products Authority (SAHPRA) on Wednesday approved the use of Pfizer's Comirnaty COVID-19 vaccine after BioNTech and Pfizer announced that two doses of their vaccine may not be enough to protect against the Omicron variant.
Asia and South America are drivers for growth in the hotel sector in the Gulf, particularly for Dubai, where demand is only limited by the number of available airline seats, senior hotel officials have said.
Amid worldwide alarm over a radiation scare in Japan following the tsunami, India and other nations from the Brazil-Russia-India-China-South Africa group on Thursday pressed for strict adherence to safety norms with regard to nuclear facilities and a proposal was floated for mutual assistance in similar incidents.
So, while it is great that India's numbers look relatively good, don't raise a cheer just yet, points out T N Ninan.
Prime Minister Narendra Modi on Wednesday thanked President Vladimir Putin for Russia's help and support in India's fight against Covid-19 as the two leaders agreed to establish a "2+2 ministerial dialogue" between foreign and defence ministers to add further momentum to the bilateral strategic partnership.
The government on Wednesday announced the appointment of veteran banker K V Kamath as chairperson of the newly set up Rs 20,000 crore development finance institution NaBFID to catalyse investment in the funds-starved infrastructure sector. Parliament had in March cleared the National Bank for Financing Infrastructure and Development (NaBFID) Bill 2021 to support the development of long-term non-recourse infrastructure financing in India, including the development of the bonds and derivatives markets necessary for infrastructure financing.
Addressing the Brazil-Russia-India-China Summit in Brasilia, he said the four countries can benefit by sharing their experiences in the field of inclusive growth.
India said that "a range of issues" were discussed by the two leaders.
Prime Minister Manmohan Singh left Washington on Wednesday for Brazil after attending the Nuclear Security Summit and holding talks with US President Barack Obama during which he asked him to press Pakistan to rein in Lashkar-e-Tayiba and other terror outfits targeting India.On the second leg of his 8-day two-nation tour, Singh headed to Brasilia where he would attend the India-Brazil- South Africa and the Brazil-Russia-India-China summits on Thursday and on Friday.
The EIU said in a report on Wednesday forecast that the real GDP grew by 1.6 per cent quarter-on-quarter in India, but noted that this uptick was largely owing to base effect.
Modi said India's contribution to global economic growth and prosperity underlined its commitment to 'Building Consensus for Fair and Sustainable Development', which is the theme of the summit.
'It is only when Beijing sees a country with an infirm political will such as India that it acts up as the PLA has done in eastern Ladakh.'
Narendra Modi's engagement at the upcoming BRICS Summit in Brazil will be keenly watched as the prime minister will interact with some of the world's most powerful leaders. The summit to be held in Fortaleza will also see the launch of the significant BRICS bank whose idea was mooted by India. Rediff.com's Sheela Bhatt gives a lowdown on Modi's first major international rendezvous.
The Ministry of External Affairs (MEA) on Friday said Modi will lead the Indian delegation at the summit. "The prime minister will lead the Indian delegation to the 20th summit of the SCO council of heads of state which will be held in the virtual format on Nov 10. The meeting will be chaired by Russian President Vladimir Putin," MEA Spokesperson Anurag Srivastava said.
The turning point in his career was undoubtedly Nepal where he was sent as ambassador and acted with a cool head.
Funds parked by Indian individuals and firms in Swiss banks, including through India-based branches and other financial institutions, jumped to a 14-year-high of 3.83 billion Swiss francs (over Rs 30,500 crore) in 2021 on a sharp surge in holdings via securities and similar instruments while customer deposits rose as well, annual data from Switzerland's central bank showed on Thursday.
Kamath also said that the new bank, set up by India and four other members of the BRICS grouping, will strive to approve its first loan before end of the current fiscal.
India and China on Monday ended their standoff in Dokalam by withdrawing their troops from the area, just days before Prime Minister Narendra Modi's visit to China to attend the BRICS summit next week.
John Chambers said India may become top BRICS nation under Modi
Expressing the government's desire to bring BCCI under the ambit of the RTI Act, Sports Minister Sarbananda Sonowal today reiterated the centre's stance following the Supreme Court ruling that the private cricketing body performs a public function and is amenable to judicial law and review.
India maintained 43rd rank on an annual World Competitiveness Index compiled by the Institute for Management Development (IMD) that examined the impact of COVID-19 on economies around the world this year. The 64-nation list was led by Switzerland, while Sweden has moved up to the second position (from sixth last year), Denmark has lost one place to rank third, the Netherlands has retained its fourth place and Singapore has slipped to the fifth place (from first in 2020). At eighth, Taiwan reached the top-10 for the first time since the ranking began 33 years ago (moving up from 11th last year).
From United States President Donald Trump and Russian President Vladimir Putin, Modi met them all.
For the first time, an Indian university has made it to the top 15 of the Times Higher Education University Rankings.
Indian investors wanting to participate in the economic growth of countries like Brazil Russia, China and South Africa can now do so with ease.
Modi held several bilateral and trilateral meetings with world leaders.
The prime minister, accompanied by senior officials including National Security Advisor Ajit Doval and Foreign Secretary S Jaishankar, met the Chinese leader just before his travel to Myanmar from this port city.
'If the Chinese were keen to mend fences with India, they would merely have to withdraw their troops in Eastern Ladakh.' 'They have not done so and they have not said that they will do so.'
Addressing the BRICS investment seminar in Mumbai ahead of the 5-nation Summit in Goa on October 15-16, Jaitley said the government has put FDI on automatic route in almost 90 per cent of the areas that are eligible for foreign direct capital.
Flush with liquidity, banks are eager to lend. And, therein lies the problem, warns Tamal Bandyopadhyay.
"Had a wonderful meeting with President U Htin Kyaw," Modi tweeted along with some pictures of the meeting.
'The crux of the matter is that our narrative lacks credibility with world capitals,' argues Ambassador M K Bhadrakumar.
India could not achieve its full potential owing to "misgovernance", while BRIC countries progressed rapidly in the last decade, Gujarat Chief Minister Narendra Modi said on Monday.
Echoing the position articulated by Prime Minister Manmohan Singh, China and Russia on Thursday warned that imminent withdrawal of fiscal stimulus by the US could have an adverse impact on the global economy and cautioned the Obama administration against it.
He also offered India's experiences of participative political institutions, local governance, media and civil society with Africa.
