India and China will continue to be the focus of the World Bank as these countries represent 70 per cent of the poor in the world, said the Bank president Robert Zoellick. "You've more poor in India than in all of sub-Saharan Africa. So if we're focused on poverty, we have to focus on these countries (India and China)", he told BBC in an interview to be broadcast on Sunday.
Among major Sensex movers, ITC rose the most by 1.70 per cent, Wipro by 1.43 per cent, Tech Mahindra by 1.36 per cent and Nestle India by 1.27 per cent. Other gainers included HCL Tech, Asian Paints and Reliance. On the other hand, ICICI Bank, NTPC, UltraTech Cement and Tata Steel traded with a loss of up to 0.82 per cent.
The World Bank on Wednesday lowered its economic growth forecast for China this year to 6.5 per cent, down from 7.5 per cent at the end of last November, after huge falls in exports and shrinking private sector investment.
Rulers in New Delhi and their political aides in sensitive states like Tamil Nadu have to be doubly careful not to provoke a situation whose consequences may be much more than visible now to the naked eye, notes N Sathiya Moorthy.
'It makes sense to have gold in one's portfolio keeping the political and economic risks of 2024 in mind.'
On Thursday, in his first interview with the local media since assuming office, Muizzu said India was instrumental in providing aid to the Maldives and has implemented the "greatest number" of projects.
Global funds, according to Christopher Wood, global head of equity strategy at Jefferies, are now beginning to pay more attention to India with the market now offering 30 companies with a market capitalisation over $25 billion.
China plans to build a new highway along the Line of Actual Control (LAC) with India as part of Beijing's efforts to strengthen its strategic position and project its power, a media report said on Wednesday.
India and China failed to make any breakthrough, but agreed to maintain dialogue to arrive at a mutually acceptable resolution at the earliest.
'This was Indian land the PLA advanced on and occupied.' 'The Chinese then 'negotiated' a pullback of their troops a small distance on Indian territory even as Indian jawans draw back further into India from the forward position.' 'An apparently satisfied Indian government says this is a great move for peace! How great is that for China!'
Indian economy is expected to grow at over 7.5 per cent, to overtake China.
Premier Li, replying to a question on China's refusal to criticise Russia's military action against Ukraine, said that utmost efforts should be made to support Russia and Ukraine in carrying forward ceasefire negotiations.
Indian stock markets are expected to be driven mostly by global factors this week amid a lack of local triggers and earnings season largely coming to an end, say analysts. Crude oil prices, rupee movement and US Federal Reserve meeting minutes to be released this week will also influence the market sentiment. "With the earnings season behind us, global cues would largely dictate the trend in the coming week," Ajit Mishra, SVP - technical research, Religare Broking Ltd, said.
India's gold demand rose 8 per cent annually to 136.6 tonne in the March quarter helped by a strong economic environment despite prices touching historic highs, according to the World Gold Council. The aggressive gold buying by the Reserve Bank of India (RBI) also contributed to the rise in demand. India's gold demand in value terms rose 20 per cent on an annual basis to Rs 75,470 crore during the January-March period of this year on volume growth as well as a rise in quarterly average prices by 11 per cent.
'With China falling out of favour, India is where investors see the demographic and digital dividend apart from the benefits of reforms playing out.' 'Your prime minister has also done a great job of sharing this story with the world.'
State Bank of India has become the first Indian bank to start commercial operations in China, confident of tapping and aiding the booming trade and commercial linkages between the two Asian giants.
Gen Pande also said that Indian troops are adequately deployed along the Line of Actual Control to deal with any situation and that guidance has been given to them to "remain firm and resolute" in their tasks.
India will become the third largest economy by 2027-28, with a GDP of over $5 trillion, Finance Minister Nirmala Sitharaman said on Wednesday. Even going by conservative estimates, the size of the Indian economy will be $30 trillion by 2047, she noted. "It is possible that we will be the third largest economy by 2027-28, and our GDP will cross $5 trillion by that time. By 2047, it is a conservative estimate that we will reach at least $30 trillion in terms of economy," Sitharaman said at the Vibrant Gujarat summit.
'The policy focus of the government should have been on creating more good quality jobs but that was not their focus.'
'India and China are already in a warlike situation.'
Equity markets rallied after softer-than-expected inflation data in the US and UK rekindled hopes of the end of the rate-hiking cycle by major central banks. The soft inflation reading drove down bond yields and the US dollar, whetting the appetite for risky assets. The 10-year US bond yield fell below 4.5 per cent after topping 5 per cent less than a month ago.
Wilful defaulters owe SBI Rs 80,000 crore. 10 nationalised banks are owed another Rs 1.5 trillion.
In a scathing attack on Prime Minister Narendra Modi, Congress president Mallikarjun Kharge on Thursday said when the elections are over, people will only remember him as the PM who indulged in 'divisive and communal speeches filled with lies' to avoid an inevitable defeat.
The Bank had predicted that China's GDP growth would slow to 8.7 per cent in 2011 in its last quarterly report released last November.
Defence Minister Rajnath Singh on Thursday defended the Agnipath scheme underlining that the future of youths joining as Agniveers would not be impacted, even as he said the government was 'open' to bring any change in it 'if required'.
India decisively withstood global headwinds in 2023 and is likely to remain as the world's fastest-growing major economy on the back of growing demand, moderate inflation, stable interest rate regime and robust foreign exchange reserves. Despite widespread pessimism witnessed among the developed nations and the worsening geopolitical situation, India recorded a gross domestic product (GDP) expansion of 6.1 per cent in the March quarter. The growth moved up to 7.8 per cent in the June quarter and was 7.6 per cent in the September quarter. For the first six months of this fiscal, the growth was 7.7 per cent.
The oil industry experienced three upheavals between 1973 and 1991, which seem to be etched in the memory of the industry's decision makers. Naturally, at the sign of a new crisis, the decision makers like to dip into those tumultuous decades to find ways to deal with the new shock, in addition, of course, to expert reports and forecasts. So, the industry bigwigs turned the pages of history to get a peek into the future of oil price movements after Russia invaded Ukraine in 2022, Israel attacked Gaza in 2023, Iran-linked Houthi rebels pounded tankers crossing the Red Sea in support of Palestine the same year, and Iran rained missiles on Israel in 2024.
Security agencies at Mumbai's Nhava Sheva port intercepted and seized the consignment of a Karachi-bound ship from China after it was found carrying a dual-use consignment with implications for Pakistan's nuclear and ballistic missile programmes.
If Tesla comes in, India's position as a manufacturing hub will rise many notches, as it will become only the second country, after China, to have both Apple as well as Tesla.
'Valuations of midcaps and smallcaps have reached very high levels, and hence to that extent leave little margin of safety.'
The World Bank and The International Monetary Fund concluded their annual spring meeting here by increasing the voting rights of India, China and Brazil, among others, thus giving them more say in the institutions' functioning.
'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'
A combination of one of the lowest labour costs and a large surplus workforce, which will continue to grow until 2031, is one of the key competitive edges that India is leveraging to challenge its rivals in Southeast Asia in the race for a China-Plus-One strategy. Apart from India, the countries in the race to woo global companies that manufacture in China, as well as the supply chains to their country include Thailand, Indonesia, Malaysia, the Philippines, and Vietnam. On the labour front, India is a clear winner.
While prices sustaining lower levels is crucial, Govt actions are also a key monitorable given the forthcoming elections in 2024.
China remained a developing country facing many challenges, including alleviating poverty in rural areas, despite emerging as a second largest economy of the world, World Bank President Robert B Zoellick has said.
Credit cards debt 180 days past the due repayment date stood at 7.92 billion yuan ($1.19 billion) by the end of the third quarter, up 8.5 per cent from the second quarter, the People's Bank of China said.
In a testimony to its growing clout, China's nearly $5 trillion economy surpassed Japan to become the world's second largest economy for the three months ended June, 2010.
A World Bank reports says the country has shown signs of "some softening" that could slow down the pace of growth slightly in 2011.
Military experts said the aim of constructing the bridge in the Khurnak area could be to ensure that the Chinese People's Liberation Army is able to quickly mobilise its troops in the region.
In the first quarter of 2016, India's credit-to-GDP gap stood at -2.9, the lowest among the BRIC group of nations
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