Like with all great crashes, some had noticed the cracks. "... cash balances (of banks) seem, from the available indications, to be hopelessly inadequate; and it is hard to doubt that in the next bad times they will go down like ninepins. If such a catastrophe occurs, the damage inflicted on India will be far greater than the direct loss falling on the depositors," said John Maynard Keynes in his May 1913 work "Indian Currency and Finance", written before his path-breaking work in macroeconomics laid the foundation of dealing with global crises.
India and the US on Thursday said they are looking forward to the reconvening of the India-US Trade Policy Forum later this year to further enhance trade relationship and identify new areas for engagement.
India and Mexico have decided to explore the possibility of entering into a Preferential Trade Agreement to improve the bilateral trade, which stood at $1.6 billion at the end of 2006.
India on Saturday announced plans to amend its nuclear liability law and set up a nuclear energy mission, a move that came ahead of Prime Minister Narendra Modi's likely visit to the United States.
Amid record bilateral trade, China and India have reached "consensus" on goods and services trade, investment and facilitation of investment and economic cooperation as part of their proposed Regional Trading Agreement (RTA).
Chinese President Hu Jintao on Thursday proposed five steps, including trade liberalisation and trade expansion and diversification between India and China, to solidify mutual relationship.
'You can imagine for India what Shuks means not just to the billions of people in India but the entire Indian diaspora around the world.'
Prime Minister Narendra Modi on Thursday thanked Qatari Emir Sheikh Tamim bin Hamad Al-Thani for the release of eight Indian nationals, who were sentenced to death after being arrested in Doha in August 2022.
Modi held talks with Abe after arriving in the Laotian capital to attend the Association of Southeast Asian Nations-India and the East Asia summits that will take place on Thursday.
'By his words, actions, and body language during their joint press appearance wanted to convey his personal respect and, more broadly, his desire to work closely with India.'
Lulu Retail announced on Wednesday that its initial public offering (IPO) was oversubscribed 25 times across all tranches, excluding cornerstone investors, generating demand exceeding $37 billion-a record for a private sector IPO in the United Arab Emirates. The company is controlled by Kerala-based business tycoon MA Yusuff Ali. The final offer price for Lulu shares was set at AED 2.04 per share, raising a total of $1.72 billion (AED 6.32 billion), making it the largest IPO in the UAE in 2024 to date.
RBI Governor Shaktikanta Das on Friday said the government and the central bank are in discussion with South Asian countries to have cross-border trade in rupee. He also said the central bank digital currency (CBDC) is in trial phase and the RBI is moving very carefully and cautiously on digital rupee launch. After the successful launch of the wholesale pilot, the Reserve Bank of India (RBI) on December 1, last year, began its retail CBDC pilot project.
India and Saudi Arabia on Monday decided to expedite implementation of the $50 billion West Coast refinery project, and identified energy, defence, semiconductor and space as areas for intensified cooperation during talks between Prime Minister Narendra Modi and Saudi Crown Prince Mohammed Bin Salman Bin Abdulaziz Al-Saud.
Modi was honoured with the 'Order of Zayed', the UAE's highest civilian award, in 2019 as a mark of appreciation for his efforts to boost bilateral ties between the two nations.
India on Thursday said it promotes engagement with Taiwan in several areas including trade and investment and Taipei's decision to open an economic and cultural centre in Mumbai should be seen in that context.
'The policies announced by his administration are implemented faster.'
Anticipating US action on tariffs, India seems to have made the first move by revamping its tariff structure by reducing the slabs to eight rates, points out Mukesh Butani.
'Every decision India makes along the LoC, it must also consider implications along the LAC.'
Barring a few, such as Andhra Pradesh Chief Minister N Chandrababu Naidu (74), Union Minister C R Patil (69) and Uttar Pradesh Finance Minister Suresh Khanna (71), most other ministers attending the WEF represent the next generation of India's politicians.
rediffGURU T S Khurana answers readers' personal income tax queries.
CII will renew its MoU with the China Council for the Promotion of International Trade on June 25 in Beijing to continue with the sustainable institutional cooperation between the business communities of both countries.
During Abe's tenure, Japan had announced support for a number of major projects. These included the bullet train project between Mumbai and Ahmedabad, besides allocations for a freight corridor between Mumbai and New Delhi.
Prime Minister Narendra Modi and his visiting Danish counterpart Mette Frederiksen on Saturday held 'fruitful' talks with a focus on expanding cooperation in a range of key areas such as health, agriculture, water management, climate change and renewable energy.
Taiwan is keen to collaborate with India and help it become a leader in the semiconductor space, Jason Ho, chairman of the Taiwan Chamber of Commerce in India, said, asserting that the Taiwanese companies have the supply chain for things that the Indian market needs. Manufacturing semiconductors - used in electric and hybrid cars, drones, and communication devices - is fairly complicated, entails huge investment, and can be a cumbersome process.
Modi hits out at trade protectionism and calls for a rule-based, transparent, anti-discriminatory, open and all inclusive WTO-centred multilateral trading system focused so that the interests of every country specially the developing ones can be taken care of.
Prime Minister Narendra Modi and his Australian counterpart Anthony Albanese will hold extensive talks on Friday with a focus on boosting overall bilateral ties in areas of trade and investment, defence and critical minerals.
Ukraine is currently in the middle of a strategic offensive into Russia's Kursk region.
China has approved the construction of the world's largest dam on the Brahmaputra River in Tibet, close to the Indian border. The USD 137 billion project, which is expected to dwarf even China's own Three Gorges Dam, has raised concerns in India and Bangladesh, the downstream riparian states. Concerns in India are centered around China's potential to control water flow, potentially enabling the release of large amounts of water to flood border areas in times of hostilities. The dam is part of China's 14th Five-Year Plan, and the Chinese government claims that the project is safe and prioritizes ecological protection.
'The border deal offers a hedge for India against Trump's unpredictability when it comes to his approach to competition with China.'
India and five Central Asian countries on Thursday decided to establish a joint working group on Afghanistan at the senior officials' level, ministry of external affairs secretary (West) Reenat Sandhu said.
To celebrate the new trade deal with India, Australian Prime Minister Scott Morrison on Saturday took to Instagram to post a picture showing him preparing khichdi, his Indian counterpart Narendra Modi's favourite dish.
Another priority in the first 100 days could be the launch of an e-platform -- Trade Connect -- to help exporters connect with stakeholders of international trade.
Prime Minister Modi will hold in-person meetings with President Putin for 8-9 hours during his nearly 24-hour stay in Russia, they said.
A top Republican lawmaker has welcomed India signing a trade deal with Australia, and urged the Biden administration to enter into a similar arrangement with New Delhi that can advance Washington's strong economic agenda in the strategically vital Indo-Pacific region. "I'm pleased to see #Australia & #India sign a strong trade deal," Senate Foreign Relations Committee Ranking Member Jim Risch said in a tweet. "The US needs to do the same and advance a strong economic agenda in the #IndoPacific. "The Biden Admin's failure to lead hurts US growth and our partnership in the region," Risch said in another tweet.
The Union Cabinet on Wednesday approved the signing of a comprehensive economic cooperation agreement, a kind of a free trade pact, between India and Mauritius which is aimed at liberalising norms to boost two-way commerce
Engineering and construction major Larsen & Toubro (L&T) reported a 25 per cent rise in net profit attributable to the owners of the company for the January-March quarter of 2024-25, owing to higher revenues and an exceptional gain. For the quarter under review, L&T posted a consolidated net profit of Rs 5,497.3 crore, while revenue rose 10.9 per cent year-on-year (Y-o-Y) to Rs 74,392.28 crore.
"We would take PM Modi at his words and welcome those comments when they took place. Other countries will make their own decision on engagement with Russia. We continue to coordinate with allies to mitigate impacts of war," said State Department's Principal Deputy Spokesperson Vedant Patel during a press conference on Thursday.
'Trump has no more elections to fight and his soaring ambition, which is no secret, will be to carve out a presidential legacy that outshines by far all his mediocre predecessors.' 'Trump's turnaround on the H-1B visa debate shows that he can take tough decisions and there are no holy cows in his domain,' asserts Ambassador M K Bhadrakumar.
The phone conversation came days after it emerged that Modi will not be travelling to Russia for the annual India-Russia summit this year.
India's trade with Nordic countries stands at over USD 5 billion (2020-21) and a cumulative FDI of over USD 3 billion (April 2000- March 2021).
