'To consider BRICS anything more than a temporary club with some common interests would be folly. The goal should be to induce others (Japan, ASEAN, South Africa) to align with us -- a non-threatening, democratic nation, rather than with malevolent China or waning America. For us to consider aligning with either China or the US would be absurd. India is just too big to be a sidekick,' says Rajeev Srinivasan.
Extending its support to Saarc Bank, Sri Lanka on Thursday said the proposed financial institution will help in alleviating poverty in the South Asian region.
Noting that India has 'limitless possibilities and countless opportunities', Modi urged the BRICS business leaders to take advantage of them.
China does not have to give up what it took in 2020, it will never give up its claim to Arunachal Pradesh, Ladakh and other areas, and it has all the time now to plan its next surprise, points out Lieutenant General Prakash Katoch (retd).
The 5-nation BRICS group on signed an agreement to create a $100 billion pool of foreign-exchange reserves to help each other.
The prime minister also said that country nurtures a mindset that loudly proclaims that terrorism is justified for political gains.
Group still far from coordinating monetary/forex policy
'India has the potential to do a lot more to take advantage of the time today where we stand to gain, geopolitically and in terms of market attractiveness.'
'The BRICS anthem has to necessarily be an anthem of Vedic times -- Walk together, Dream together, Achieve together.' 'And who knows it better than Modi?' says Tarun Vijay.
Marking the end of strict banking secrecy practices, Switzerland earlier this month agreed to automatic exchange of information and mutual administrative assistance in tax matters with overseas authorities.
Flush with liquidity, banks are eager to lend. And, therein lies the problem, warns Tamal Bandyopadhyay.
Modi said there were a slew of 'matching priorities' between the business council and that of his administration, including dismantling trade barriers, promoting skills development, establishing manufacturing supply chains and infrastructure development.
Modi in his address to the BRICS Leaders Meeting in Hangzhou said "terrorists in South Asia or any where for that matter do not own banks or weapons factories". "Clearly someone funds and arms them and BRICS must intensify joint efforts not just to fight terror but to coordinate actions to isolate those who are supporters and sponsors of terror," he said, without naming Pakistan which is a close ally of China.
China's intended role for AIIB is not so different from the existing Western lenders like the World Bank.
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.
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).
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.
India, the bank's second biggest shareholder after China, is looking to borrow from the AIIB.
As India's stock rises, the resolution of the border row may become even more difficult, warn Harsh V Pant and Kalpit Mankikar.
Prime Minister Narendra Modi's bilateral meetings on the sidelines of the BRICS summit in Johannesburg are being finalised, Foreign Secretary Vinay Kwatra said on Monday but did not give a direct reply on the possibility of a meeting between Modi and Chinese President Xi Jinping.
'China seems more intent on creating a new world order rather than shaping the existing one.' 'India is of course, at this moment in time, aligned with the West-led order because of China's full-spectrum aggressive behaviour towards 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'
Several factors seem to have corrected in India in the past six months, says the president of New Development Bank.
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.
About railways sector, the Survey said that it is facing stiff competition from other modes of transportation and the government is initiating various transformative measures to keep railways on track.
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."
Her statement comes ahead of Pakistan Prime Minister Shahid Khaqan Abbasi's address at the United Natiosn General Assembly.
'Wang Yi said the border issue is important and we should stay committed to peacefully addressing it through consultation and coordination.'
Under the watchful eyes of five wise men, who know the industry well, banks will not find it easy to hoodwink the system, says Tamal Bandyopadhyay.
Chinese Foreign Minister Qin Gang reiterated that the situation at the India-China border is generally stable and both sides should consolidate the present achievements and strictly abide by the relevant agreements while pushing for further cooling and easing of the conditions for sustainable peace and tranquillity at the frontier.
'Terrorism continues to be the overwhelming threat to security and stability in the SCO region and therefore Dr Jaishankar strongly pitched for 'collective action',' observes Dr Rajaram Panda.
China has signalled that it will prevent India from assuming leadership of the Global South, observes Ambassador T P Sreenivasan.
She said there was no bigger global challenge than "state-sponsored" and "state-protected terrorism, asserting those supporting terror networks must be made to pay the cost.
Seshasayee has been an independent director on the company's board since January 2011.
The G20 meeting of the finance ministers and central bank governors beginning July 19 will also be attended by Reserve Bank of India Governor D Subbarao and Deputy Governor Urjit Patel.
'As part of our D33 strategy, the plan is to establish 30 unicorns in Dubai within the next 10 years.'
Xi and Modi met soon after their arrival at a summit of the BRICS group of emerging powers. Xi said the two countries should join hands in setting global rules and suggested he attend the November meeting of the 21-nation APEC in Beijing, as well as take part in Chinese-led regional initiatives.
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.
China continues to hold out on fingering Pakistan as the 'mothership of terror,' declaring Masood Azhar a terrorist at the UN, and India's membership of the NSG, says China expert Srikanth Kondapalli.
The Supreme Court on Thursday asked the Sebi to probe within two months allegations of stock price manipulation by the Adani group and any lapses in regulatory disclosures, and also set up a panel to look into protection of Indian investors after a damning report by a US short seller wiped out more than USD 140 billion of the conglomerate's market value. The top court while directing the setting up of a six-member committee headed by former apex court judge Justice A M Sapre for the assessment of the extant regulatory framework and for making recommendations to strengthen the process said it was appropriate to set up such a panel of experts in order to "protect Indian investors against volatility of the kind which has been witnessed in the recent past". The court-appointed Justice Sapre panel, which will be provided assistance by the Centre and other statutory agencies including the Sebi chairperson, will have to submit its report in a sealed cover within two months, said the bench which comprised Chief Justice D Y Chandrachud and Justices P S Narasimha and J B Pardiwala.
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