The two leaders discussed the Ukraine crisis and several regional and global issues including increasing trade relations and cooperation in the field of mitigating the impact of climate change during their bilateral talks at the Danish Prime Minister's official residence in Mareinborg near Copenhagen.
To tackle acute shortage of skilled workers, Germany has agreed to open its labour market for specialists from non-EU countries, including India, by easing the minimum salary requirement to obtain a residence permit.
A senior European Union representative said here on Tuesday that the body would soon change its Customs laws to address the issue of seizures of Indian generic drug shipments while en route for export to other countries.
Even as the Indian IT industry is studying the fine print of the European Union (EU) to expand the scope of value-added-tax (VAT) from January 1, to include services like back-office operations, call centre work and administrative services delivered from non-EU nations (including India), it does not appear to be unduly perturbed.
Global rating agency S&P on Tuesday said even though the US and the Euro zone are headed to recession, India is unlikely to face the impact given the "not so coupled" nature of its economy with the global economy. "Indian economy is a lot decoupled from the global economy than we normally think of, given its large domestic demand, even though you (India) are a net importer of energy. "But you have enough forex reserves on one hand and your companies have managed to maintain healthy balance sheets," Paul F Gruenwald, S&P global chief economist and managing director, told reporters in Mumbai.
European regulators have estimated that consumers are paying up to 20 per cent more for medicines in some cases.
Modi told the delegation that urgent action was needed against those supporting and sponsoring terrorism.
In the first visit by a foreign delegation, a team of 23 MEPs travelled to Kashmir in October on a two-day visit to have a first-hand assessment of the situation after the state's special status was revoked in August by abrogating Article 370.
Says it is ready to show flexibility on all major issues
In a statement ahead of his visit to the Indonesian city for the G20 leaders' summit, Modi said he will also highlight India's achievements and its 'unwavering commitment' to collectively address key global issues.
Officials from India and the United Kingdom (UK) are working overtime to address the contentious issues related to the proposed free trade agreement (FTA) between the two nations, in a final push to conclude the deal by the year-end. Commerce secretary Sunil Barthwal was headed to London on Thursday after completing his four-day visit to Brazil. Other key officials from India's negotiating team will be joining Barthwal in the UK capital, hoping to make headway in the FTA negotiations, which started in January last year, a person aware of the matter told Business Standard.
The chemicals sector's recovery could be delayed until FY25 if the current trends of weak demand and flat pricing continue. Following a subdued September quarter, the revenue and profit performance of listed chemicals companies are anticipated to fall short of initial expectations of an improvement. Despite some price stability, the demand trajectory remains uncertain.
Even as outsourcing demand from Europe revives after the debt crisis, data protection regulations in the region governing trans-border data flows could hurt the $108 billion Indian IT-ITeS industry.
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.
India may see a structural shift in supplies of crude oil with Russia emerging as a key source of fuels, a development that reduces New Delhi's dependence on West Asian oil, gives Indian refiners better bargaining power with price-setter Saudi Arabia, and improves overall energy security. The unexpected surge in supplies of Russian crude in the last few months, unthinkable until the war in Ukraine, may also deliver other unforeseen gains such as boosting exports of refined fuels to Europe, which historically has counted on Russian shipments. India has jumped on to the bandwagon of opportunistic buying of Russian crude but if calibrated carefully, Urals crude can be a long-term asset for India refiners.
What all global leaders need to understand is that no Generative AI regulation will work unless they start with the basics, which is data collection, asserts Prosenjit Datta.
Come December, India may have to re-evaluate purchases of Russian oil if a price cap on crude oil proposed by the US and the European Union (EU) comes into effect. That impacts nearly a quarter of India's oil purchases that come at a discount, helping limit marketing losses for India's state refiners and enabling New Delhi to manage inflation by freezing pump prices of motor fuels. In September, India imported 1 million barrels a day or 24 per cent of its overall imports from Russia, which became the biggest supplier of oil to India.
The govt is likely to propose to the EU that it will validate security procedures in its airports before allowing passengers to carry duty-free goods to India. This is in retaliation to a similar proposal made by EU last year, which led to protests from companies operating duty-free shops in India. EU officials would have to validate the security systems at Indian airports before allowing transit passengers to buy at duty-free shops here, resulting in dispute between the two.
The Reserve Bank on Wednesday allowed inbound travellers from G20 nations arriving at select airports to use the popular UPI for making payments in the country. Later, the RBI also proposes to extend the Unified Payments Interface (UPI) facility to travellers from all countries. UPI is a system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing & merchant payments into one hood.
The G20 leaders will deliberate on pressing global issues at the grouping's annual summit here on September 9 and 10. India is hosting the summit in its capacity as the current G20 chair.
So far, WTO members have jointly respected and honoured the Bali commitments.
Iran was ousted from the United Nations Commission on the Status of Women on Wednesday evening in the wake of the Mahsa Amini protest.
Prime Minister Narendra Modi and US President Joe Biden are set to hold bilateral talks on Friday evening with a focus on further solidifying the India-US comprehensive global and strategic partnership.
Underlining the contribution of non-resident Indians, Union Finance Minister Nirmala Sitharaman on Tuesday said remittances sent to the country by overseas Indians were about $100 billion for the year 2022, an increase of 12 per cent in one year. Speaking at a session during the Pravasi Bharatiya Divas (PBD) convention in Madhya Pradesh's Indore city, she described NRIs as the "real ambassadors of India" and appealed to them to use made in India products and services as far as possible so that the country's individual brand can be promoted across the globe. Sitharaman also said that after the "China plus one" policy, the world is now talking about the "European Union (EU) plus one" policy.
'The two sides agree to continue firmly supporting each other in safeguarding their respective core interests,' a joint statement issued at the end of Muizzu's talks with Chinese leaders said.
Gangster Abu Salem, who survived bid on his life in a Navi Mumbai jail last month, will move the European Union seeking execution of the order canceling his extradition to India issued by the Portuguese constitutional court.
Coca-Cola India said on Monday it complies with all "relevant EU norms" while manufacturing its bottled water brand Kinley.\n\n\n\n
There is no official word either from China or from India on who will represent Beijing at the upcoming G20 summit.
Our government shows a benign mask to the world behind which its fangs are bared against its own citizens, observes Aakar Patel.
The European Union has recently introduced a condition on exporters to give a certificate with dispatches that they contain traditional Basmati rice to avail a rebate of 250 Euro per tonne, Lok Sabha was informed on Friday.
The two teams said they had been reassured by Formula One's approach under chairman Chase Carey and his new management team, who had "brought a new culture of transparency to the sport".
The Netherlands has emerged as India's fifth-largest export destination in 2021-22 (FY22), jumping from its 10th position a year ago. Exports to the fifth-largest economy in the European Union (EU) bolted 94 per cent to $12.5 billion in the financial year ended March 31. In FY22, the Netherlands surpassed Hong Kong, Singapore, the UK, Germany, and Nepal to become India's largest export destination in the EU. Germany, which was earlier India's top European export destination (eighth position), has now dropped two ranks to 10th place.
The David Cameron government has accepted the recommendation of the Migration Advisory Committee to specialist jobs such as pharmacists, veterinary surgeons, and speech and language therapists.
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