Indian policymakers are almost alone, alongside the United States, in seeking a hard and multi-sectoral global decoupling from China in the expectation that it will boost their economies, observes Mihir S Sharma.
Prime Minister Manmohan Singh said on Sunday in an interview to the Japanese media in Tokyo that India is confident of signing a 'win-win' civilian nuclear deal with Japan and is looking forward to a comprehensive economic partnership agreement to boost bilateral trade.
India's passenger vehicle exports rose by 26 per cent in April-June 2022 aided by enhanced shipments to Latin America and Africa and a low base of the year-ago quarter that was hit by the second wave of COVID-19. As per the latest data released by the Society of Indian Automobile Manufacturers (SIAM), passenger vehicle shipments rose to 1,60,263 units in the April-June period of this fiscal as compared with 1,27,083 units in the same quarter of 2021-22. Passenger car shipments saw an 88 per cent year-on-year growth at 1,04,400 units while utility vehicle exports rose 18 per cent to 55,547 units during the period under review, SIAM data showed.
India has ended regulatory uncertainty: Modi assures Malaysia.
Countries negotiating free trade agreements (FTAs) need to keep in mind eight "myths" which surround these pacts, like they lead to accelerated increase in exports and promote domestic manufacturing, according to a report by think-tank GTRI. The report by Global Trade Research Initiative (GTRI) claims to dispel these 'myths', including that FTAs weaken the WTO (World Trade Organisation), countries are rushing to do FTAs, and these pacts promote investment and lower prices. It is "erroneously" believed that most world trade happens through the FTA route, but in reality, it is less than 20 per cent, said the report titled 'FTAs: Fabulous, Futile, or Flawed?'.
Modi and Najib also invited each other to visit their countries.
Prime Minister Manmohan Singh arrived in Tokyo on the first leg of his three-nation visit, during which he would hold talks with his Japanese counterpart Naoto Kan on a range of issues, including civil nuclear energy cooperation.
'No Cold War should be reignited and no Ukraine-style crisis should be repeated in Asia'
He also reiterated India's strong support in the fight against terrorism with Sri Lanka, which saw the country's worst terror attack on Easter Sunday.
Countries that have signed the RCEP agreement can start negotiations with India for joining the pact once New Delhi submits a written request stating its intention for the same, according to a declaration. On November 4 last year, India walked out of mega free trade agreement RCEP (Regional Comprehensive Economic Partnership) as negotiations failed to address New Delhi's outstanding issues and concerns. The remaining 15 member countries have signed RCEP agreement and have stated that the pact would remain open to India.
The two sides are engaged in negotiations to expand the ambit of FTA in goods to include trade in services and investments.
There is no official word either from China or from India on who will represent Beijing at the upcoming G20 summit.
The PM held bilateral meetings with three ASEAN leaders, including his Vietnamese counterpart Nguyen Xuan Phuc and Myanmar's State Counsellor Aung San Suu Kyi, and discussed key bilateral and regional issues.
Japanese auto major Nissan on Wednesday said it is discontinuing Datsun brand in India, nine years after the company kicked off the marque's global relaunch in the country. Having failed in its ambitious global relaunch of Datsun, Nissan had in 2020 discontinued the brand in Russia and Indonesia, the other two countries along with South Africa and India which were marked as key markets targeting the entry level car segment. Confirming the move to discontinue the Datsun brand, Nissan India in a statement said, "Production of Datsun redi-GO has ceased at the Chennai plant (Renault Nissan Automotive India Private Ltd). "Sales of the model still continue (till the stock lasts)."
The Bangladesh prime minister said that her government had tried to take care of the displaced community keeping the humanitarian aspect in mind.
Maruti Suzuki India on Tuesday reported a 28 per cent rise in exports at 263,068 units in 2022, its highest ever overseas shipments. The company's previous highest exports was achieved in 2021 with 205,450 units. The highest exported models in 2022 were Dzire, Swift, S-Presso, Baleno and Brezza, the company said in a statement.
Passenger vehicle exports from India increased 43 per cent in FY22, with Maruti Suzuki India leading the segment with dispatches of over 2.3 lakh units, as per the latest data by industry body SIAM. The total passenger vehicle (PV) exports stood at 5,77,875 units in 2021-22 fiscal, as compared to 4,04,397 units in 2020-21. Passenger car shipments saw 42 per cent growth at 3,74,986 units, while utility vehicle exports rose 46 per cent at 2,01,036 units during the last fiscal, the data by the Society of Indian Automobile Manufacturers (SIAM) showed.
There have been growing global concerns over China's sweeping claims of sovereignty over all of the South China Sea, a huge source of hydrocarbons.
India is close to signing a free trade pact with the South-East Asian nations to boost exports in the face of a global economic downturn and rising protectionism, a top official said on Wednesday.
Both sides "positively assessed" India-Myanmar security cooperation in the backdrop of certain insurgent groups from northeastern Indian states.
It will be Putin's first participation in a multilateral summit after a mercenary group launched a short-lived armed rebellion last week that rocked Moscow.
Prime Minister Narendra Modi on Wednesday made his Instagram debut, sharing a picture from the venue of the ASEAN summit.
India has been forcefully raising the issue of market access as well as protected lists of goods mainly to shield its domestic market as there have been fears that the country may be flooded with cheap Chinese agricultural and industrial products once it signs the deal.
Cognizant Technology Solutions has restructured its global growth markets (GGM) by appointing two internal leaders who will now share the responsibility. The move follows the exit of former GGM leader Rob Walker last month and is among the slew of leadership changes the company has seen in the recent past. GGM refers to the company's emerging markets outside of North America.
Prime Minister Narendra Modi on Tuesday met Myanmar's President U Thein Sein to begin a string of bilateral meetings with over 40 world leaders during his 10-day three-nation tour on the margins of key multilateral summits in Myanmar and in Australia and a visit to Fiji.
An intricately carved gateway, built at a cost of over $1 million and representing hundreds of years of Buddhist and Islamic art forms in India, will be inaugurated by Prime Minister Narendra Modi in 'Little India' in Kuala Lumpur during his visit to Malaysia this week.
It took India and the Indian Army to show to the world that enough is enough and to challenge the neighbourhood bully, he said.
Meeting is on June 24-25 on stalled pact, agreement likely by year-end.
The Southeast Asian nation has been focusing on modernising its military in the face of myriad security challenges as well as decades-long territorial disputes with China in the South China Sea.
In a major expansion into sportswear and lifestyle wear segment, the Kumar Mangalam Birla-led Aditya Birla Fashion & Retail has signed a long-term licensing agreement with Authentic Brand Group of New York, which has the marketing and branding rights of Reebok, to run the operations of the global sportswear, athletic and lifestyle major in the country and ASEAN markets. The new agreement between the largest domestic multi-brand fashion retailer and Authentic Brand is an extension of their existing relationship as ABFRL already markets and sells some ABG brands like Forever 21. The agreement follows the global transfer of ownership of the Reebok brand from Adidas to ABG, which is expected to close in the first quarter of 2022.
Without Myanmar, India can't engage with any of the Asian nations to its east.
As US President Joe Biden launched a new trade deal with 12 Indo-Pacific nations, including India, to enhance trade, economic and investment opportunities, China, which sees the pact as a threat to its dominance in the region, went on the offensive against it, promising more opening up, while the official media here termed it as "economic Nato".
Nifty50's earnings growth, estimated at 20 per cent by global research and brokerage firm Jefferies for financial year 2023-24 (FY24), will be amongst the top three in the Asian region, and is likely to outperform peers. Asean 40 index with 29.1 per cent estimated earnings growth and Straits Times Index (STI) with 29.1 per cent estimated earnings growth are the only two other indices in the Asian region that are likely to outperform India, suggests the recent Jefferies report, coauthored by Mahesh Nandurkar, their managing director along with Abhinav Sinha and Nishant Poddar.
'There's no pro-China tilt in BRICS.' 'All these countries want to be close to China, but they are all good friends of India also.'
It was the second time in the last three days that India asserted that the relationship with China depends on the resolution of the pending issues in eastern Ladakh.
It will not be to India's advantage to create misperceptions that it is bandwagoning with some Anglo-American project for regime change in Myanmar, argues Ambassador M K Bhadrakumar.
India's national security focus has shifted from the western border to the eastern one. But our trade with China keeps rising. This trade is against our interest, because most of it comprises of Chinese imports, argues Aakar Patel.
The Biden administration has reaffirmed its commitment to support India's permanent membership in a reformed UN Security Council and New Delhi's entry to the Nuclear Suppliers' Group.
Prime Minister Narendra Modi on Thursday night left for Australia on the second leg of his three-nation tour during which he will attend the annual summit of the Group of 20 of the world's developed and emerging economies.
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