Reserve Bank Governor Shaktikanta Das on Monday said despite the latest headwinds arising from the Jackson Hole summit leading to extreme volatility, our banking system and financial markets are strong enough to withstand such pressures. Taking the markets by surprise, US Fed chair Jerome Powell had told the annual Jackson Hole summit of central bankers and economists last week that he would have to keep raising federal fund rates to tame inflation, which remains the biggest challenge to the world's largest economy. He also warned of the pains that such monetary policy actions would create on growth and jobs.
Joe Biden's B3W proposal aims to bring democracies together. India should come up with its own plans to contribute to the initiative, states Rahul Mishra.
It is our only chance of avoiding a repeat of our catastrophic second wave, asserts Naushad Forbes.
'Given the sharp increase in oil prices, a mounting problem for the 2nd and 4th largest importers like China and India -- the Qingdao meeting is likely to push for the large energy producers (Russia and the Central Asian Republics) and energy consumers (China and India) to arrive at some understanding for mutually beneficial outcomes,' notes Srikanth Kondapalli.
Climate and sustainable development financing, multilateral institution reforms, regulation of digital assets, the spillover effect on developing economies from actions of western central banks, energy and food security in the backdrop of war in Europe, and sanctions on Russia and their impact on the global economy are some of the agenda items that India will take up as President of G-20, Finance Minister Nirmala Sitharaman said on Tuesday. India will take over as President of the powerful international grouping on December 1 for a year. There will be around 200 meetings throughout the country, with the summit Heads of State meeting expected to be held in New Delhi next September.
In the apparel export segment, one of the biggest challenges is that UK has a size, US has a size, Europe has a size and a measure; but India does not. So a size India project will be rolled out in the entire country, the first of its kind in Indian history.
How should one billion Indians, for whom deprivation has become an inescapable way of life, join us in celebrating 75 years of Independence? And where do we go from here? asks Kalyan Singhal.
Finance Minister Nirmala Sitharaman on Tuesday said many countries have evinced interest for bilateral trade in the rupee after the RBI announced a mechanism recently. Speaking at Mindmine Summit 2022, she said this along with other steps taken by the government is towards full capital account convertibility. "It isn't the rouble-rupee which was in the old format. "Now this (bilateral rupee trade) formulation, which I am glad the RBI has come up at a time which was so critical," she said when asked if India is ready for capital account convertibility.
Britain has finalised 1 billion pounds worth of new trade and investment with India, creating over 6,500 jobs in the UK, to be signed off at a virtual summit between Prime Minister Boris Johnson and his Indian counterpart Narendra Modi on Tuesday. The investments confirmed by Downing Street on Monday evening form part of an Enhanced Trade Partnership (ETP), which will set the ambition to double the value of UK-India trade by 2030 and declare a shared intent to begin work towards a comprehensive Free Trade Agreement (FTA). "Like every aspect of the UK-India relationship, the economic links between our countries make our people stronger and safer," Johnson said.
A weaker Russia, a sobered China at a time when Xi Jinping is manoeuvring to protect his third term prospects, a reunited West, a chaotic Pakistan. This is a perfect set of strategic circumstances. It is for India now to consummate this historic opportunity, argues Shekhar Gupta.
The Uttar Pradesh Defence corridor is estimated to attract Rs 20,000 crore investment and create 250,000 jobs.
'The MEA, hopefully, made it clear that the Indian PM can't be seen in Xi Jinping's company when China has, for all intents and purposes, annexed over 1,000 sq kms of Indian territory in eastern Ladakh, and essentially that the Wuhan spirit and the Mamallapuram spirit have turned into vinegar.'
May emphasise that the country is back on the fiscal consolidation path by reining in fiscal deficit at 5.2%.
Many of the stories, the pictures going out of India worldwide lately with these provocative processions, taunting of Muslims, bulldozers targeting mostly their properties, the sweeping 'othering' of a community of 200 million are painting the front pages and TV screens in the democratic world. That is where most of the friends we covet lie. Soon enough, these will also make our vital friends among the Muslim nations, from Bangladesh to Saudi Arabia and the UAE, uneasy. The best time for course correction is now, asserts Shekhar Gupta.
India says it cannot accept a project that ignores its core concerns on sovereignty and territorial integrity.
Johnson will instead speak to Prime Minister Narendra Modi later this month to launch their plans for the future UK-India partnership, with their physical meeting expected later in the year.
'If you are going to have only a handful of telecom players on whom the entire dream of Digital India rests, it's important they are financially sustainable.'
India's total purchase of oil from Russia in a month is probably less than what Europe does in an afternoon, External Affairs Minister S Jaishankar said.
The trilateral AUKUS security alliance complements partnerships like Quad and there was a "very warm embrace" of the deal by India and Japan as both the countries totally understood and supported what it is seeking to achieve, Australian Prime Minister Scott Morrison said on Thursday.
Prime Minister Narendra Modi spoke with Ukrainian President Volodymyr Zelenskyy on Tuesday and asserted that there can be no military solution to the Ukraine conflict, while also underlining that endangerment of nuclear facilities could have catastrophic consequences.
'It will send a very strong signal that it is now our time to grow.'
Addressing the plenary session of the 11th Asia-Europe Meeting Summit here in the Mongolian capital, Vice President Hamid Ansari said, "all our societies today face unprecedented levels of threat from terrorism in all its manifestations. The most recent example is what has happened, most unfortunately in France."
Rather than talking endlessly about lost and marginal opportunities, India's climate envoys need to start thinking bigger, says Mihir S Sharma.
The country's economic growth rate slipped to 5.3 per cent in the fourth quarter of 2011-12, lowest in nearly 9 years due to poor performance of the manufacturing and farm sectors.
Prime Minister Rishi Sunak has made a clear break with the past on UK-China relations as he declared that the "so-called golden era" of bilateral ties is over in the face of the "systemic challenge" posed by the Chinese regime to British values and interests.
Here's the full text of Prime Minister Narendra Modi's address to a joint session of the United States Congress, delivered on Thursday.
United States National Security Adviser Jake Sullivan met with his Chinese counterpart in Rome and held discussions on a range of issues, including bilateral relation and Russia's war against Ukraine, the White House said.
Japanese auto giant Suzuki Motor Corporation on Tuesday said it plans to make India an export hub for its small cars, mainly for European and African markets.
Group still far from coordinating monetary/forex policy
India's soft power diplomacy came into play during this cataclysm affecting the world as the pandemic defies barriers and borders, notes Rup Narayan Das.
Keeping the contents of the BBC documentary aside, Rishi Sunak's response needs to be viewed in the backdrop of Britain's historically close relations with Pakistan, argues Lieutenant General Prakash Katoch (retd).
Extending full support to Europe, Prime Minister Manmohan Singh said on Thursday that a quick solution to the Eurozone sovereign debt crisis was required but it should not be at the cost of growth of the developing nations like India.
Relations between India and Japan seem to be at an all-time high, with the two countries making a concerted attempt to interact at various levels -- economic, political and strategic.
'Unless India ups the ante, Beijing will continue to believe its transgressions are cost free and will feel encouraged to do more of the same.'
The stagnation in US-Russia relations does not augur well for New Delhi's strategic interests, says Harsh V Pant and Raj Kumar Sharma.
UK's outgoing Prime Minister David Cameron on Monday hailed "important partner" India in his first Parliament statement since the country voted for leaving the EU and said Britain must not turn its back on Europe or the rest of the world.
IT firms Infosys and Mphasis on Tuesday said they will create employment for about 2,000 people, while Wipro will invest pound 16 million (about Rs 163 crore) in the UK over the next few years. The announcements were made ahead of the virtual summit between UK Prime Minister Boris Johnson and his Indian counterpart Narendra Modi on Tuesday. Infosys said it plans to hire 1,000 workers in the UK over the next three years as part of efforts to support the country's economic recovery and growth.
With variants cropping up at regular intervals, Jha acknowledged that they are a concern as a very rapid evolution of this virus is being seen over the time.
After a positive opening, the 30-share BSE Sensex suddenly faced selling pressure in late-afternoon trade. It finally settled just 5.67 points, or 0.01 per cent, lower at 39,586.41.
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