Indian economy is in a sweet spot, with a mix of solid growth and moderating inflation, Moody's Ratings said, forecasting a 7.2 per cent GDP growth in the 2024 calendar year and 6.6 per cent in the next. In its Global Macro Outlook 2025-26, the rating agency said the global economy has shown remarkable resilience in bouncing back from supply chain disruptions during the pandemic, an energy and food crisis after the Russia-Ukraine war began, high inflation and consequent monetary policy tightening.
'India is using Hasina to warn the Yunus government because there is a ground support for the Awami League in Bangladesh.'
Developing countries' coalition G-20 on Tuesday upped the stakes by circulating proposals to arrive at "balanced solutions" on some of the most difficult and unresolved issues of the Doha agriculture mandate.
Shaktikanta Das will demit the office on Tuesday after completing six years as the 25th Governor of the Reserve Bank of India. Revenue Secretary Sanjay Malhotra will replace him as the 26th Governor. He was appointed as the Governor on December 12, 2018, after the abrupt exit of Urjit Patel.
Commerce and Industry Minister Kamal Nath left for Geneva on Wednesday to attend a meeting of the G-20 alliance which will make renewed efforts to work out a global trade deal on the Doha Round of WTO negotiations.
During the two-day Summit in St Petersburg attended by the world's top leaders including US President Barack Obama and host Vladimir Putin, Singh declared that India has been affected by currency volatility in the past few weeks and was taking steps to finance the current account deficit in an environment that is seen to be friendly for stable foreign capital flows.
The host country has been pressing for a discussion at the 10th G20 Summit on the conflicts in Syria and the worst migrant crisis since World War II.
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The G20 in 2013 had unanimously agreed to a 15 point action plan to check BEPS
Sanjay Malhotra takes charge as the 26th RBI governor at a time when headline retail inflation has shot up to 6.2%.
On the issue of exchange rates, the summit reiterated the wording agreed in the meeting of the G20 finance ministers and central bank governors a few weeks earlier - a commitment to "moving toward more market-determined exchange rate systems, enhancing exchange rate flexibility to reflect underlying economic fundamentals, and refraining from competitive devaluation of currencies.
India also spoke against talk of putting a cap on current account balance.
Arvind Panagariya, sherpa for India at the summit, tweeted about the "interaction".
'This agreement will help the Indian workforce to move to non-traditional sectors of employment like teaching, nursing, and manufacturing.'
"Hello Hangzhou! PM lands in China to attend the G20 Summit," Modi tweeted.
US hopes to learn from these innovative and dynamic programmes in India.
The Financial Intelligence Unit-India (FIU-India), the national agency responsible for analysing suspicious financial transactions, has received requests from four more offshore crypto exchanges to operate in India again, said a senior government official familiar with the matter. In the beginning of 2024, India had banned nine crypto exchanges - Binance, Kucoin, Huobi, Kraken, Gate.io, Bitstamp, MEXC Global, Bittrex, and Bitfenix - for non-compliance with anti-laundering law in the country.
The G-20 countries on Monday called for striking a balance between stimulus measures to sustain economic expansion and reducing fiscal deficit to tackle the mess of government finances.
Canadian Prime Minister Stephen Harper had a telephonic conversation with his Indian counterpart Dr Manmohan Singh on Monday morning about preparations and priorities for the Toronto G20 Summit to be held at the Metro Toronto Convention Center on June 26-27.
With only 50 days left for the G-20 Seoul Summit, Korea is making conscientious efforts to gather a consensus in putting development as one of the major topics for discussion.
As a leader, he was ambitious, not for himself but for India and its people. His was not the short-term election cycle calculation of individual political gain. His was a practical vision of how to better the lives of his fellow citizens, asserts Ambassador Shivshankar Menon, who served as foreign secretary and national security advisor when Dr Singh was prime minister.
An independent Task Force on Friday asked the G-20 nations to recognise publicly that the flow of illicit money out of poor countries, facilitated by the global shadow financial system, cripples the ability of these countries to work their way out of poverty.
Ivanka, who accompanied her father on the second day of the G-20 summit at a session about Africa, Migration and Health later replaced him as the leader left for bilateral meetings.
The G-20 finance ministers are scheduled to discuss a report from the Organisation for Economic Co-Operation and Development which recommends, among other things, use of Tax Information Exchange Agreements to force tax havens to share information with a minimum of 12 countries.
The G-20 leaders will meet on June 25-26 at the Metro Toronto Convention Center, their theme this year being Recovery and New Beginnings.
Though the countries are lowering international trade restrictions, there is still fear that they may resort to policies that discriminate foreign investors due to weak economic recovery.
This week's G20 summit is in danger of over-promising and under-delivering - but it is still worth watching for any initiatives to kick-start global trade, says Julian Jessop at Capital Economics.
Doval is in Beijing for the 23rd round of the Special Representatives' talks being held after a gap of five years.
Modi will participate in the first-ever trilateral meeting between Japan, America and India and the 2nd Russia, India China trilateral, which is taking place after an interval of 12 years, on Friday.
Seeking to reform the failed regulatory systems and put an end to "bubble and bust economy", US President Barack Obama said that G-20 has rejected protectionism and America was also dedicated to forging consensus rather than dictating its own terms.
The current Euro-Atlantic Monetary Fund must become an International Monetary Fund.
Prime Minister Narendra Modi and Chinese President Xi Jinping will hold bilateral talks on Wednesday on the margins of the Brazil, Russia, India, China, South Africa (BRICS) summit in Russia, in their first structured meeting since the eastern Ladakh border row erupted in May 2020.
Welcoming Obama's financial sector reform proposals, German finance minister Wolfgang Schaeuble said on Sunday he plans to convene a meeting of the G-20 finance ministers in Berlin ahead of the G-20 summit in Canada in June.
Geithner said during their discussions this week, in Singapore and China, US President Barack Obama emphasised that the US and China must be at the centre of efforts to put the global economy on a more sustainable and balanced growth path.
Voicing concern over the global recession, G-20 Finance Ministers have asked their central banks to adopt aggressive and unconventional monetary policies to ensure price stability and restore growth.
India's Finance Minister Pranab Mukherjee will arrive in London on Thursday to participate in the two-day G20 Finance Ministers' and Bank Governors' meeting commencing on Friday to discuss the financial crisis.
India and China have agreed to work towards a "roadmap" for rebuilding mutual trust following the border standoff in eastern Ladakh, according to a statement from the Indian Defence Ministry. Defence Minister Rajnath Singh met with his Chinese counterpart Dong Jun in Vientiane, Laos, on the sidelines of a regional security conclave. Singh called for drawing lessons from the "unfortunate border clashes" of 2020 and emphasized the need for cooperation rather than conflict. Both sides agreed to work towards a roadmap for rebuilding mutual trust and understanding, and a meeting of the Special Representatives and Secretary-Vice Minister mechanism will also take place soon.
Soon after Prime Minister Modi's assertion, the G20 countries also came down heavily on terrorism.
Twin objectives of promoting recovery in the global economy and to put in place a set of reforms in the international financial system to help prevent future crises of this type taking place are crucial for G20, said a top US Treasury official. G20 is a group of 20 leading and emerging economies of the world representing more than 85 per cent of the global economy.
