A third of the global economy will be in recession this year, the IMF chief has said, and warned that 2023 will be "tougher" than last year as the US, EU and China will see their economies slow down. Kristalina Georgieva, the chief of the International Monetary Fund (IMF) made these grim assertions on Sunday during a CBS news programme "Face the Nation." It comes at a time when the ongoing conflict in Ukraine shows no signs of abating after more than 10 months, with spiralling inflation, higher interest rates and the surge in coronavirus infections in China fuelled by the Omicron variant.
The SAARC nations have been more pragmatic than their peers in the ASEAN and EU, indicated an official source on the eve of the 17th SAARC Summit to be held in Male on November 10-11, even as Prime Minister Manmohan Singh left for Maldives for the SAARC Summit on Wednesday.
India was apprehensive because EU was pushing for data exclusivity provisions that would have affected domestic pharma companies.
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.
Falling sugar production in the European countries would provide an excellent opportunity for Indian sugar exports to the European Union market, says a top government official.
Coca-Cola India said on Monday it complies with all "relevant EU norms" while manufacturing its bottled water brand Kinley.\n\n\n\n
A delegation of European Union observers was on Monday allowed by the Chhattisgrah high court to witness proceedings on rights activist Binayak Sen's appeal against his life term in a sedition case, which his lawyer and Bharatiya Janata Party member of Parliament Ram Jethmalani termed as "political persecution".
Asserting that trade had to play a central role in the partnership between India and EU, Commerce Minister Kamal Nath said there was a need for a liberal regime for free movement of "natural persons"
India may formally approach the World Trade Organisation's dispute panel against the European Union following the seizure of low-cost generic medicine consignments in European ports meant for other developing countries. The two parties have failed to reach an amicable solution during the consultation process.
At a time when Narendra Modi is reaching out to cross-section of people nationally and internationally, the European Union on Thursday stressed on the 'accountability' for the 2002 Gujarat riots, maintaining that the matter was of 'interest' to everyone.
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.
A high-level meeting between the two sides will be held in New Delhi from Monday on the comprehensive economic agreement which aims at eliminating trade barriers to enhance commerce between India and the EU.
Chief Minister Minister Mufti Mohammad Sayeed assured the team was free to meet whoever they want as\n\nthe government believed in transparency.
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.
India and European Union will discuss issues of mutual interest during the first joint industrial energy conference in New Delhi next month.
Seeking to provide a "new dimension" to their otherwise "neglected" relations, the European Union said on Monday it is committed to expand its ties with India beyond trade and commerce to include issues of security and terrorism. "Not only in terms of trade, the EU is seeking fruitful dialogue with India on security, terrorism and climate change, apart from greater cooperation in energy security, cultural and people to people exchange," Graham Watson.
The report reads like a 'harangue on Pakistan, misrepresenting our position in sharp contrast to unquestioning endorsement of Indian stand point.'
Macron's office said the President will travel to Delhi to participate in the G20 Summit on September 9 and 10 following which he will leave for Bangladesh for a bilateral visit.
The European Union may back off from its insistence on including non-trade issues like human rights in the proposed free trade pact with India.
India and the European Union (EU) have begun discussions to resolve the ongoing dispute over the seizure of Indian generic drugs consignments in transit at European ports. Lutz Guellner, spokesperson for the European Trade Commissioner, told Business Standard that a meeting of the EU-India Joint Customs Cooperation Committee held in New Delhi on Thursday proved "constructive" with an "open discussion of the issues" taking place.
India's import of cheap Russian oil scaled another record in May and is now more than the combined oil bought from Saudi Arabia, Iraq, UAE and the US, industry data showed. India took 1.96 million barrels a day from Russia in May, 15 per cent more than the previous high in April, according to data from energy cargo tracker Vortexa. Russia now makes up for nearly 42 per cent of all crude oil India imported in May.
On the eve of the two-day summit in Brussels, Merkel renewed her rejection of euro bonds as 'wrong and counterproductive.'
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.
India is giving priority to boost trade with European Union and foresees no difficulty in signing a free trade and investment agreement with EU, notwithstanding wide differences between the two sides in the WTO over the Doha Round of trade talks. India and EU are negotiating a free trade and investment agreement aimed at phasing out and eliminating import duties on a large number of trade items.
"The Nazi Party started using a Hindu symbol and abused it. That's not the fault of the Hindus. For us swastika is a sacred symbol implying peace and prosperity."
India would have to put at least 10 percent of scientific, managerial and industrial inputs in the project.
The Greece package is aimed at rescuing foreign investors and delays the inevitable "rolling crisis" in that country
Oil producers cartel OPEC's share in India's oil imports fell to an all-time low of 46 per cent in April as purchases of cheaper Russian oil peaked, industry data showed. Organization of the Petroleum Exporting Countries (OPEC) nations, mainly in the Middle East and Africa, had a 72 per cent share of all crude oil India imported in April 2022. This share slid to 46 per cent in April 2023, according to energy cargo tracker Vortexa.
Gunmen launched an attack on the European Union military mission's headquarters in the Malian capital, Bamako, the apparent latest in a string of attacks on Western interests in the region.
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.
There is no official word either from China or from India on who will represent Beijing at the upcoming G20 summit.
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