Today, with China centrally seated and located, the Global South has an intriguing road ahead. Odds of it becoming a Chinese bloc in the emerging new bipolar world are higher than we'd wish them to be, observes Shekhar Gupta.
India on Monday pressed for early disengagement of troops in remaining friction points in eastern Ladakh during a fresh round of high-level military talks with China, people familiar with the matter said.
Brazil, Russia, India and China, also known as the BRIC group of countries, are expected to overtake the rich countries in primary energy consumption by 2030 and worsen their environmental calamities, Paris-based Organisation for Economic Cooperation and Development has warned. The OECD estimates suggest that 63 per cent population in the BRIC countries is living under medium to severe water stress and this share is expected to increase to 80 per cent by 2030.
Rating agency says the country may lose its investment-grade status on growth concerns; finance ministry begs to differ
The revenue of Indian software market was at $4 billion in 2014.
While Narendra Modi spent fewer days abroad than his predecessor -- 275 days versus Dr Singh's 306 - he has travelled more widely than any other Indian PM.
'The group commands 85 per cent of the global GDP, and if you are able to convey your point of view effectively to this group then you have reached more or less all the important players that matter.'
After factors such as tax and cost of living are taken into consideration, corporate India's top brass can boast of an average disposable income of just $92,750 compared to other fast growing economies like Brazil, Russia and China.
Modi knew in his heart that India does not have the financial muscle to support the new bank with offers of co-financing international projects, something China can do from the bank's base in Shanghai. If established in Mumbai, it may have employed a few Indian bankers and satisfied the national ego but there was little financial value to be drawn from it.
'The future of BRICS is under stress as Chinese attempts to expand the platform are being resisted by India and Brazil.' 'Beijing is focused on a quick expansion with the aim of giving the platform a distinctly anti-Western orientation, which New Delhi and Brasilia seem to have no interest in,' notes Harsh V Pant.
In the latest research note titled 'For Richer, For Poorer Global Patterns of Wealth', Ernst & Young said emerging economies have seen their share of global output and wealth rise significantly over the last few years, driven by faster growth, rising income, high savings ratios, strong investment and export. In the next decade, the BRIC countries are likely to contribute 40 per cent of global growth, while the US would account for around 14 per cent.
In an interview with Newsweek magazine of the US, Modi said for India, the relationship with China is significant.
If it continues to do well economically, develops a large manufacturing sector, gains in technological heft, builds a more capable defence industry, improves its human development indicators, becomes more of a trading nation, and has greater internal cohesion. In short, it is a work in progress, suggests T N Ninan.
Out of the 1.7 billion expected subscribers in BRIC nations, India is likely to have 560 million mobile users, while China is expected to top the chart with 800 million, a report by eMarketers said. India would be followed by Russia with 189 million users and Brazil at 176 million.
'We will likely never know why Xi decided not to travel to New Delhi. One possible explanation could be his desire to avoid a meeting with US President Joe Biden.'
According to leaders of these economies who were speaking at a session at the 44th World Economic Forum Annual Meeting in Davos, the BRICS economies would rebound over the next few years, despite having been hit to varying degrees by fallout from the global financial crisis.
'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'
'ISRO Chairman Dr. Somanath's leadership truly created history and we extend our hearty congratulations to him and his team,' Venugopal said on X, formerly Twitter.
India is now on the Moon and the success of the lunar mission has sounded the bugle for the emergence of a developed nation, Prime Minister Narendra Modi said on Wednesday as Chandrayaan-3 landed successfully on the lunar surface.
The talks are following up the outcome of the 19th round of Corps Commander-level talks held between the two sides on August 13-14 at the Chushul Moldo border meeting point.
EAM Jaishankar's mission is aimed at strengthening India's strategic autonomy in a complex international environment, observes Ambassador M K Bhadrakumar.
External Affairs Minister S Jaishankar on Monday held wide ranging discussions with Iranian counterpart Hossein Amirabdollahian in Tehran and their discussion focused on the long term framework for India's involvement with the strategically vital Chabahar port and the North-South connectivity project.
Russian oil supplies to India will continue to flow unhindered and suppliers will come up with ways to sidestep secondary sanctions, a Russian official told Business Standard.
Prime Minister Narendra Modi was accorded a warm reception as he arrived at the Indian Space Research Organisation headquarters in Bengaluru on Saturday morning.
The hotel has currently turned into a high security zone with guests living there moved out to other facilities of the Taj group.
Russia proceeds "from the postulate, a negotiated solution to the Palestinian-Israeli conflict has no alternatives," said Putin while speaking at the Commonwealth of Independent States summit in Bishkek, Kyrgystan on Friday.
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."
'The message that India has conveyed since the start of this conflict is clear and consistent. It is important to prevent escalation to ensure continued delivery of humanitarian aid and to work towards an early restoration of peace and stability. A peaceful resolution of the conflict through dialogue and diplomacy is the only way forward'
India and China on Monday held a fresh round of military talks with a focus on disengagement of troops in the remaining friction points in eastern Ladakh and ease overall tensions in the region.
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).
Users jocularly wondered if the name of institutions such as the Indian Space Research Organisation, the Reserve Bank of India and the Board of Control for Cricket in India will be changed.
'Wang Yi said the border issue is important and we should stay committed to peacefully addressing it through consultation and coordination.'
India is set to press for early disengagement of troops from the remaining friction points in eastern Ladakh at a fresh round of high-level military talks with China on August 14, people familiar with the matter said on Saturday.
In a giant leap for its space programme, India's Moon mission Chandrayaan-3 touched down on the lunar south pole at 6.04 pm on Wednesday, propelling the country to an exclusive club of four and making it the first country to land on the uncharted surface.
So far the coronavirus, which originated in the Chinese city of Wuhan, has infected more than 54 million people around the world and killed over 1.3 million others.
Addressing a symposium on the international situation and China's foreign relations in 2022, Wang said both countries have maintained communication through diplomatic and military-to-military channels.
India has not yet received any confirmation on Chinese President Xi Jinping's in-person participation at the upcoming G20 summit, people familiar with the matter said on Thursday amid reports that he is likely skip the conclave.
'Global coordination, convergence, market complexities and dynamics and cross-border enforcement compound the existing challenges we face.'
Indian troops are defending every inch of the border with China and not even a single inch of land has been taken over by the neighbouring country in recent years, Ladakh Lt Governor Brig (retd) B D Mishra said on Thursday.
Two days ago, the Chinese foreign ministry following a meeting between NSA Ajit Doval and top Chinese diplomat Wang Yi in Johannesburg claimed that Xi and Modi had reached an 'important consensus' on stabilising bilateral ties at the interaction on the margins of the G20 Summit last November.
