Hit by the dollar-debasement, the Indian handmade carpet industry is all set to de-risk business by embarking on a new mission: That of looking beyond the US market and expanding its footprint in Europe.
The G20's Bali Declaration Wednesday acknowledged differences among members on the Russia-Ukraine war but said it was essential to adhere to international law, including protection of civilians caught in conflicts.
Backed by the China-plus-one policy, India's textile and apparel exports have seen a 53 per cent growth during the April-November period of the current fiscal year at around $26 billion. This compares to the figure of $17 billion during the same period in FY21. According to Wazir Textile Index, all major companies including Welspun, Vardhman, Trident, KPR Mills, Indo Count, RSWM, Filatex, Nahar Spg and Indorama have posted higher sales during the first half of the current fiscal year compared to the pre-pandemic year.
Representatives from the United States and Qatar, the UN, China, Uzbekistan, Pakistan, the United Kingdom, the EU, Germany, India, Norway, Tajikistan, Turkey and Turkmenistan joined a regional conclave on Thursday to discuss ways to contain the escalating security situation in Afghanistan.
After reports of contamination in cough syrups sent from the country, India is considering a system to test them before exporting. It is learnt that the Central Drugs Standard Control Organisation (CDSCO) has sent a proposal to the Union health ministry on this. The idea is to test the medicines at government labs before exporting.
'France has decided to sanction Masood Azhar at the national level by freezing his assets'
We now face further uncertainty, Johnson told the House of Commons after the final of 2 important votes.
Permanent Representative of Ukraine to the UN Ambassador Sergiy Kyslytsya told the UN Security Council briefing on the humanitarian situation in Ukraine on Monday that "Ukraine deeply regrets that more than 2,000 citizens of India, China, Turkey, Pakistan and other countries suffer today along with Ukrainians from Russian aggression."
Pakistan will remain on the 'grey list' of the Financial Action Task Force (FATF) until it further demonstrates that action is being taken against Jamaat-ud-Dawah chief Hafiz Saeed and Jaish-e-Mohammed founder Masood Azhar who are listed as global terrorists by the United Nations, the global anti-money laundering and terror financing watchdog said on Thursday.
The Union health ministry has also directed airport and port health officers to be vigilant, they said.
The 80-page bill, which follows a last-minute deal agreed with the EU last week, just days before the December 31 deadline of the end of the Brexit transition period, was debated by MPs in the House of Commons followed by the House of Lords.
Will stand for rights of Kashmiris: Imran Khan in PoK
Aviation is a juicy target. It's a 24x7 industry, which cannot afford delays or loss of customer credibility.
Opposition leaders urged Modi to use the opportunity for the country's benefit.
Saeed-led JuD is the front organisation for the Lashkar-e-Tayiba which is responsible for carrying out the 2008 Mumbai attack that killed 166 people, including six Americans.
In a statement to formally update parliament on her European Council meeting last week where the EU agreed to a short delay to the March 29 Brexit deadline, the British PM said she remained committed to "guarantee Brexit" even if it isn't as initially planned for this Friday and would continue to lobby MPs to get the support required for another vote on the withdrawal agreement agreed with the European Union.
Here's a glimpse of all that happened around the world last week, in 14 images.
When overall gems and jewellery exports remained resilient so far this year on global economic uncertainty, shipment of silver jewellery witnessed a phenomenal growth so far this year.
The people will view it from their viewpoint, their immediate interest, historical experiences, their insecurities, he said.
'The escalation of tension along the border of Ukraine with the Russian Federation is a matter of deep concern'
United States Vice President-elect Kamala Harris has named her Chief of Staff, Domestic Policy Advisor and National Security Advisor -- an all-women team -- which she said has the experience to hit the ground from day one.
The ICMR has already approved a bunch of rapid test kits for launch. The health ministry admitted that clusters of COVID-19 had appeared in many states and the risk of further spread remains very high.
The Financial Action Task Force (FATF) on Friday retained Pakistan on its 'grey list' for failing to check money laundering, leading to terror financing, and asked Islamabad to investigate and prosecute senior leaders and commanders of United Nations-designated terror groups, including Hafiz Saeed and Masood Azhar.
"The FATF plenary decided continuation of Pakistan in 'Grey List' till its next meeting to be held in October," an official privy to the development told PTI.
Putin justified his decision in a speech blaming NATO for the current crisis and calling the US-led alliance an existential threat to Russia.
The FATF continuing Pakistan in the 'Grey' list means its downgrading by IMF, World Bank, ADB, EU and also a reduction in risk rating by Moody's, S&P and Fitch.
The 62-year-old premier remains defiant despite the prospect of a no-confidence vote after Jacob Rees-Mogg, a leading Tory Brexiteer, piled on the pressure by submitting a letter of no-confidence to the chair of the Conservative's influential 1922 Committee on Thursday.
The United States, the United Kingdom, the European Union and NATO have expressed concern on the new law and warned of retaliatory measures.
Indian drug firms get a shot in the arm in the $12 bn Australian drug market as the Therapeutic Goods Administration (TGA), Australia agrees to accelerate the drug approval process in that country for Indian players who already have an approved plant and product from one of the stringent regulatory authorities like US, EU or Canada. From current sales of $340 mn, the Indian firms can see a significant upside in sales; felt Dinesh Dua, former chairman of the Pharmaceutical Exports Promotion Council of India (Pharmexcil), and the MD of Nectar Lifesciences. He highlighted that only 12 percent of the Australian drug market is generic, as against 80-90 per cent in the US or EU. Of this $1.5 bn generic drug market in India, Indian companies have a small share.
Sharma was addressing the members of the Board of Trade, a body comprising captains of Indian industry.
On the situation in the Kashmir Valley, the army officials highlighted Wednesday evening's incident when a son of a prominent eatery owner was shot and critically wounded by terrorists at his shop in a high-security area of the city.
India needs a National Trade Policy Council, chaired by a minister who reports directly to the PM, says Jayanta Roy, former economic advisor to the Union commerce ministry.
India has been maintaining that Pakistan extends regular support to terror groups like Lashkar-e-Taiba, Jaish-e-Mohammad and Hizbul Mujahideen, whose prime target is India, and has urged FATF to take action against Islamabad.
The agreement provides for extensive cooperation in the civil nuclear energy sector including in research and development for peaceful uses of nuclear energy, they said.
Macron held a tete-a-tete with Modi before the delegation-level talks at the Elysee Palace - the official residence of the French president.
Britain is due to leave the European Union by October 31, with Johnson racing against time to strike a deal to meet that deadline.
India is the second largest buyer of Iranian crude, after China.
The referendum will have long-term implications for Indian companies, which earn a substantial portion of revenue from the region.
Stocks of Indian companies with exposure to Europe fell on Tuesday amid concerns about the impact on their sales in case the Russia-Ukraine crisis worsens and the US and its allies impose economic sanctions on Russia. While top conglomerates, including Reliance Industries, the Tata group, and Aditya Birla Group, said they did not have any significant exposure to Russia, executives of some of the oil and gas, pharmaceutical, and tea companies said they were monitoring the situation closely as they earned substantial income from the region. Russian President Vladimir Putin on Monday ordered troops into two breakaway regions of eastern Ukraine after announcing that Russia would recognise their independence.
As India goes into firming up trade deals with developed nations like Australia, the United Kingdom (UK) and the regional bloc, and the European Union (EU), it will have to be well prepared to negotiate on new-generation issues, such as data protection regulation, e-commerce, and environment. India is yet to negotiate pacts with its trading partners on these evolving issues since discussions between them have until now been largely focused on tariff and non-tariff barriers and the rules of origin. "We can no longer look at trade just as trade. We have to look at it in totality of global and regional conditions.
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