Prime Minister Manmohan Singh arrived in New Delhi after attending the G-20 summit in Pittsburg in the US, during which leaders of the world's richest and most influential countries resolved to continue the stimulus for the recession-hit global economy.
The possibility of a meeting between United States President Barack Obama and Prime Minister Manmohan Singh during the G-20 Summit in Los Cabos, Mexico, is not being ruled out, days after the two leaders agreed to work together to address the faltering global economy and the painful Eurozone crisis.
The G-20, a group of developing countries including India, on Friday dismissed as "unacceptable" a 'blended formula' of tariff reduction in agriculture, proposed by the United States and the European Commission.
The Financial Intelligence Unit-India (FIU-India), the national agency responsible for analysing suspicious financial transactions, has received requests from four more offshore crypto exchanges to operate in India again, said a senior government official familiar with the matter. In the beginning of 2024, India had banned nine crypto exchanges - Binance, Kucoin, Huobi, Kraken, Gate.io, Bitstamp, MEXC Global, Bittrex, and Bitfenix - for non-compliance with anti-laundering law in the country.
The new Cabinet member says growth cannot come unless all sectors of the economy -- agriculture, manufacturing and services -- expand.
In view of the austerity measures, the Prime Minister's delegation for G-20 Summit in Pittsburg in the US has been pruned a bit. At least two officials and three members of the official media have been dropped from the delegation that will leave for the four-day visit on Wednesday, official sources said in New Delhi on Tuesday.
India is trying hard to erase Indonesia's wariness about New Delhi, building security cooperation in the Indian Ocean and Pacific Ocean. If Indonesia decides to buy the Brahmos missile, it would further strengthen relations between the world's most populous nation and the most populous Islamic country.
The Indian mrime minister supported a new global standard on automatic exchange of tax information
PM Modi to travel to Vietnam before going to China to attend G20 summit.
In a statement before leaving for London to participate in the meeting of world leaders to discuss the economic meltdown, Singh also focussed on the need to ensure adequate flows of finances to the developing countries to overcome the reversal of international capital flows.
People everywhere, consumers and investors alike, are cancelling spending plans, because the world economy seems very risky right now. The same thing happened during the Great Depression of the 1930s.
Modi regretted that the international response to terrorism was weak and said more cooperation was needed to fight the menace.
G20 finance ministers meet in London on Friday to chart the next steps out of the global economic crisis, with calls to curb bankers' bonuses as part of beefed-up financial market rules topping the agenda.
India should push the World Bank to focus on generating ideas and technology.
The White House has asserted that there is a commonality in the agenda of the new Obama administration and the leading G-20 countries on the front of financial crisis, and that the US president is looking forward to the economic summit next week.
Shaktikanta Das will demit the office on Tuesday after completing six years as the 25th Governor of the Reserve Bank of India. Revenue Secretary Sanjay Malhotra will replace him as the 26th Governor. He was appointed as the Governor on December 12, 2018, after the abrupt exit of Urjit Patel.
Finance Minister Pranab Mukherjee is likely to oppose suggestions to introduce a financial transaction tax, commonly known as tobin tax.
'India is using Hasina to warn the Yunus government because there is a ground support for the Awami League in Bangladesh.'
An influential G-20 alliance, spearheaded by India, Brazil and South Africa, on Monday mounted pressure on rich nations to substantially cut their lavish farm support in the wake of change in the world commodity prices.
India on Wednesday said it hopes the G-20 nations will pay heed to its call for a strong action on the issue of black money stashed in tax havens during their crucial summit in Cannes.
The world's 20 most important finance ministers and 20 most important central bankers travelled to Washington in April from every part of the globe to accomplish, predictably, exactly nothing.
'This agreement will help the Indian workforce to move to non-traditional sectors of employment like teaching, nursing, and manufacturing.'
The G20 has cited India among other countries for launch of major investment initiatives and for having a sustainable growth.
The recent meeting of G20 finance ministers in Washington agreed to set up a surveillance system to monitor the economic performance of countries with the greatest potential for "spillover effects" - the economic impact that extended beyond their boundaries.
Sanjay Malhotra takes charge as the 26th RBI governor at a time when headline retail inflation has shot up to 6.2%.
In his pre-departure statement, PM said he looks forward to the G20 Summit and would like Europe to prosper as "in Europe's prosperity lies our own prosperity".
The statement said that the global economy is being held back by a shortfall in demand, while addressing supply constraints is key to lifting potential growth.
The summit in Korea, Ahluwalia pointed out, was the first to be held in a newly developed nation, as well as in Asia, home to many emerging nations. With the financial crisis that necessitated the meeting of minds in 2008 a thing of the past, Korea is keen to bring development to the forefront.
On Wednesday, Mukherjee addressed two press conferences at the International Monetary Fund.
Discussing the issue threadbare, the leaders of the developed and fast developing economies declared that though the financial sector should make a fair and substantial contribution towards paying for any bailouts, policy should take into account each nation's 'circumstances and options.'
Prime Minister Narendra Modi and Chinese President Xi Jinping will hold bilateral talks on Wednesday on the margins of the Brazil, Russia, India, China, South Africa (BRICS) summit in Russia, in their first structured meeting since the eastern Ladakh border row erupted in May 2020.
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Although as per the IMF-OECD estimates, an incremental growth of 1.8 per cent in global GDP is achievable
Recognising the risk of economic slowdown and weakening trade posed by protectionism, the G-20 has decided to extend until the end of 2016 its standstill commitment to further progress in removing barriers and impediments to global trade and investment. In a 27-page declaration adopted at the end of the two-day Summit in Moscow, the group of 20 industrialised and major emerging economies also reaffirmed its commitment to roll back new protectionist measures. "With these commitments, we stress the importance of further curbing protectionism through the WTO," the G-20 Leaders' Declaration said. The G-20 called on all WTO members to show the necessary flexibilities to bridge existing gaps and deliver positive and balanced results at ninth WTO ministerial conference in Bali in December on trade facilitation and some elements of agriculture and development issues. "This would be a stepping stone to further multilateral trade liberalisation and progress in Doha Development Agenda negotiations, providing new confidence in successful post-Bali negotiations," the declaration said. The declaration committed itself to cooperate to ensure that policies implemented to support domestic growth also support global growth and financial stability and to manage their spillovers other countries. The Summit also shared Prime Minister Manmohan Singh's views on the need for orderly exit from the monetary stimulus undertaken in the context of 2008 economic crisis. "In the five years since we first met, coordinated action by the G-20 has been critical to tackling the financial crisis and putting the world economy on a path to recovery. "But our work is not yet complete and we agreed that it remains critical for G-20 countries to focus all our joint efforts on engineering a durable exit from the longest and most protracted crisis in modern history," the declaration said. It noted that the most urgent need is to increase the momentum of the global recovery, generate higher growth and better jobs while strengthening the foundations for long term growth and avoiding policies that could cause the recovery to falter or promote growth at other countries' expense.
Reaffirming the central role of the Group of 20 member nations in combatting and neutralising the impact of the global fiscal crisis, leaders of Brazil, Russia, India and China (BRIC) on Thursday said the grouping is the right forum for resolving the crisis.
As a leader, he was ambitious, not for himself but for India and its people. His was not the short-term election cycle calculation of individual political gain. His was a practical vision of how to better the lives of his fellow citizens, asserts Ambassador Shivshankar Menon, who served as foreign secretary and national security advisor when Dr Singh was prime minister.
India and China have agreed to work towards a "roadmap" for rebuilding mutual trust following the border standoff in eastern Ladakh, according to a statement from the Indian Defence Ministry. Defence Minister Rajnath Singh met with his Chinese counterpart Dong Jun in Vientiane, Laos, on the sidelines of a regional security conclave. Singh called for drawing lessons from the "unfortunate border clashes" of 2020 and emphasized the need for cooperation rather than conflict. Both sides agreed to work towards a roadmap for rebuilding mutual trust and understanding, and a meeting of the Special Representatives and Secretary-Vice Minister mechanism will also take place soon.
Doval is in Beijing for the 23rd round of the Special Representatives' talks being held after a gap of five years.
The Group of 20 nations has welcomed the strategies by member countries to phase out oil subsidies -- a bold move followed by India that only on June 25 raised petrol, diesel and cooking fuel prices.
The visit of Prime Minister Manmohan Singh worked. On conclusion of his short trip to Pittsburgh to attend the G-20 summit, he was in upbeat mood.
