As the COVID-19 pandemic continues to unravel in various parts of the country, the World Economic Forum on Monday announced the cancellation of its high-profile annual meeting for 2021 after postponing it at least twice along with two changes in venue. The next annual meeting will now take place in the first half of 2022, while the location and date would be determined after assessing the situation later this summer, said the Geneva-based organisation that has been hosting a yearly congregation of the rich and powerful from across the world in Swiss ski resort town of Davos for 50 years. This year's Davos summit was originally scheduled for January 2021, but was later moved to a different location in Switzerland, Lucerne, and then to Singapore with an August 2021 schedule.
American retail giant Walmart is not keen on opening direct-to-consumer physical stores in India, but will focus on growing its acquisitions - online marketplace Flipkart and payments major PhonePe, a top official said on Friday. It can be noted that the company acquired Flipkart and PhonePe in a $16 billion deal a few years back. "We've got an omnichannel strategy that includes both of those components.
The price of bitcoin, the bestselling cryptocurrency, has shrunk nearly three times this year to mark the fate of such digital assets. Crashing prices, regulatory uncertainty and taxes have put Indian crypto exchanges in troubled waters. Finance Minister Nirmala Sitharaman's budget for FY23 announced a 30 per cent tax on any income from the transfer of virtual digital assets.
'Chinese real GDP growth is 7.1% and India's is 7.4%'.
The Confederation of Indian Industry will organise a round table on investment.
The 'Missing link in India's Act East Policy', as India's former foreign secretary Shyam Saran calls it, needs to be filled sooner rather than later, says Dr Rahul Mishra.
Asserting that the self reliant India programme will help revive the global economy, Prime Minister Narendra Modi on Thursday told global business community that his government aims to transform the country through access, inclusion and empowerment while also ensuring complete data security. Addressing the World Economic Forum's online Davos Agenda Summit, where he also interacted with global business leaders, Modi also said India offers a predictable and friendly environment from tax regime to FDI norms. He said Aatmanirbhar Bharat movement is committed to global good and global supply chain while the country's digital profile has been completely transformed.
United States President Joe Biden is all set to visit India and is 'very excited' about the important initiatives he will be championing at the G20 Summit in New Delhi, according to senior White House officials.
Addressing the BRICS investment seminar in Mumbai ahead of the 5-nation Summit in Goa on October 15-16, Jaitley said the government has put FDI on automatic route in almost 90 per cent of the areas that are eligible for foreign direct capital.
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.
The differences between the US and China over rival free trade agreements being floated by them threatened to derail the APEC Summit which got off to a colourful start in Beijing China on Monday.
'We would like to develop Andhra Pradesh into a logistics hub not only for India, but also for South Asia.'
An agreement to expedite the Jaitapur nuclear plant was expected to be signed.
Indeed, Prime Minister Narendra Modi, who as Gujarat chief minister was considered close to certain business groups and industrialists, has hardly been seen with any Indian business head.
Mukesh Ambani, who is in talks with Saudi Arabian oil giant Aramco to sell one-fifth of his oil-to-chemicals business in India for $ 15 billion, said the two countries have all factors to drive growth - technology, young demography, and leadership.
Jaitley slammed lack of ethics in certain sections of businesses and said multiple layers of auditing system chose to either look the other way or did a casual job.
White House Press Secretary Karine Jean-Pierre said the upcoming visit will affirm the deep and close partnership between the United States and India.
The prime minister said that a larger Indian economy has multiple benefits for the world
India has undertaken a number of structural reforms.
'Its people are either victims of corruption or witnesses to it.'
The government plans to take India into the top 50 ranks in ease of doing business in the next two years with efforts such as shifting all applications for industrial licenses online.
'To the believers of crypto regulations, I have only one question to ask, how will you regulate it?'
'I don't think we have ever seen such alignment of everything that we need in the banking sector.'
Modi said there were a slew of 'matching priorities' between the business council and that of his administration, including dismantling trade barriers, promoting skills development, establishing manufacturing supply chains and infrastructure development.
Russian President Vladimir Putin arrived in New Delhi late on Friday night for annual summit talks with Prime Minister Narendra Modi on Thursday that is aimed at building on the already close strategic ties, particularly in the fields of nuclear energy, hydrocarbons and defence.
In a statement, Modi said he will be visiting Berlin on May 2 at the invitation of German Chancellor Olaf Scholz, following which he will travel to Copenhagen on May 3-4 at the invitation of his Danish counterpart Mette Frederiksen to hold bilateral engagements and also participate in the Second India-Nordic Summit.
The 68-year-old influential Arab leader will grace the Republic Day celebrations on January 26. Sisi is accompanied by a high-level delegation.
'US officials must grapple with the possibility that one of its closest partners attempted an extrajudicial killing on its soil.' 'This is not something that friends typically do to friends.'
Reliance Industries Ltd will invest Rs 75,000 crore in rolling out 5G mobile telephony services, expanding retail network and setting up renewable energy capacity in Uttar Pradesh in the next four years, its chairman Mukesh Ambani said on Friday. Ambani also announced foray of the oil-to-telecom conglomerate into bio-energy business, converting agriculture waste into gas which can be used as fuel in industries, run automobiles or light kitchen stoves. Speaking at the Uttar Pradesh Global Investors Summit 2023 here, Ambani said his group will set up 10 GigaWatts of renewable energy capacity and roll out 5G services across the state in the next 10 months.
'India should respect Maldivian nationalism and their desire to be not over-dependent on India.' 'India should not behave like a big brother towards Maldives as many times, we tend to behave like that.'
'People trust India and Indians a lot more than they trust China and the Chinese.'
'It is clear that economic policy and reform under this administration will always be afterthoughts, something to be carried out only when no other political concern intervenes -- when, in other words, the government feels safe and comfortable enough to take a moderate risk,' argues Mihir S Sharma.
Pakistani Prime Minister Nawaz Sharif has cancelled his visit to WEF annual meeting after a deadly Taliban attack in his country.
'At the heart of the strategic relationship between our countries are economic ties.'
Modi is keen to get more investments into Gujarat.
India will soon make available many more COVID-19 vaccines to other countries after two Made-In-India jabs have already been introduced to the world, Prime Minister Narendra Modi said on Thursday while emphasising the country's global responsibility in fighting the pandemic.
Obama and Modi would primarily focus on climate change but will also review progress in bilateral relationship and discussion on regional and global issues including terrorism.
'The pitch for India is flat, the ball for India is old, the sun for India is out, and the bowlers are not bowling too well.' 'I think only we can get ourselves out.'
Jaishankar criticised the UNHRC for its criticism on the situation in Jammu and Kashmir,
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Expressing concern over the investment and innovation environment in India, a top US trade official has said the recent set of economic reforms initiated by the country were not enough to return to the path of robust growth.
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