India has been relatively insulated from the severe headwinds in the West. However, with a third of the global economy expected to slip into recession in calendar year 2023, the impact will strongly be felt on India's exports and trade economy, leading economists said in a panel discussion at the Business Standard BFSI Insight Summit in Mumbai on Wednesday. The panel comprised former Reserve Bank of India executive director and former Monetary Policy Committee member Mridul Saggar, State Bank of India Chief Economic Advisor Soumya Kanti Ghosh, Citibank India Chief Economist Samiran Chakraborty, ICRA Chief Economist Aditi Nayar, and IndusInd Bank Chief Economist Gaurav Kapoor. The topic of the panel discussion was No recession in sight: Is India decoupled from developed economies?
Djokovic says Peng situation horrifying, says tennis must unite.
India, along with Southeast Asian countries such as Indonesia, is expected to sustain growth in the medium-term in Asia region, replacing China as the key growth driver, Morgan Stanley and Nomura said in two separate reports released on Monday. While Morgan Stanley projected a 6.2 per cent gross domestic product (GDP) growth forecast for India in FY24, Nomura estimated the Indian economy to grow at 5.9 per cent in 2023. "Even with a slowing China, we expect GDP growth in Asia to sustainably outperform other emerging markets and the US. India and Southeast Asia are set to be the fastest-growing economies this decade.
Apple Inc has requested the ministry of electronics and information technology (MeitY) to give it 18 to 24 months' exemption to comply with the European Union (EU) regulation of putting an USB charging port in all its older smartphones, mainly iPhone 13 and iPhone 14, which are assembled, exported and also sold in the domestic market. Apple's stance is different from that of Samsung, which has been pushing for an immediate implementation of the EU regulation. All smartphones by the South Korean giant already comply with the EU rules.
'China is struggling to get out of its property bubble.' 'Japan took 35 years to walk out of its equity bubble.' 'Bubbles can be difficult to forecast.'
Former World Rapid Chess champion Koneru Humpy wants the All India Chess Federation to increase women's tournaments.
The annual Edelman Trust Barometer report, released every year during the World Economic Forum's Davos summit, also showed that business has replaced government as the most trusted and is now followed by government and media in that order.
The Street will thus keep an eye on the operating profit margins over the next couple of quarters.
The trade between India and China has touched an all-time high of $135.98 billion in 2022 while New Delhi's trade deficit with Beijing crossed for the first time a $100 billion mark despite frosty bilateral relations, according to data released by the Chinese customs on Friday. The total Sino-India trade for 2022 has climbed to 135.98 billion, overtaking the $125 billion mark a year earlier by registering an 8.4 per cent increase, according to the annual Chinese customs data. China's exports to India climbed to $118.5 billion, a year-on-year increase of 21.7 per cent.
'The economy is clearly at a very soft spot, and earnings growth is disappointing every day.' 'After three great years, the Indian economy has hit a rough patch.'
External Affairs Minister S Jaishankar has said India faces a 'very complicated challenge' from China, and the Narendra Modi government has taken steps to ensure no attempts are made to change the status quo in the border areas unilaterally.
'As far as skilled immigration is concerned, the US needs Indian skills and Indian talent, and there are no two opinions about it even among US companies.'
The re-opening of the Chinese economy, as it moves away from its zero-Covid policy, could help stabilise commodity prices, according to some of the country's top metal companies. They view this as a positive for demand, at a time when markets such as the US and Europe have been largely weighed down by slowdown concern now. "Most of us in the metals business are hoping the Chinese economy picks up because half of any metal demand, including demand for aluminium, comes from China.
'India knows very well that China will not be at a disadvantage in any China-India military operations along the border area'
In a show of strength, China is deploying its aircraft carrier group and a nuclear submarine in large-scale military drills in the Taiwan Strait in response to US House Speaker Nancy Pelosi's high-stakes visit to Taipei which infuriated Beijing as it claims the island as part of its territory.
'The United States should not, by this logic, expect India to create military distractions along the Line of Actual Control, hold up Chinese shipping in the Indian Ocean, or even openly provide intelligence or basing for US forces transiting the region.'
The sixth game of the World Chess Championship between India's D Gukesh and China's Ding Liren ended in a draw.
China's domestic debt is a major concern.
Human rights group Amnesty International has alleged that China would execute an estimated 374 people during the 2008 Beijing Olympic Games. Amnesty said that nearly 70 crimes could carry the death penalty in China and that around 22 prisoners are secretly executed every day. China had admitted using capital punishment 470 times in 2007, but campaigners believe the true figure to be nearly 8,000.
'We emphasise the importance of not basing investment decisions solely on electoral outcomes.' 'Instead, focusing on investing in high-quality businesses capable of prospering regardless of the political landscape is paramount.'
The Global Chess League has hit a significant milestone on its fifth day. With half of the matches already in the books, the competition now embarks on the crucial second phase of the round-robin tournament.
The IMF, in its semi-annual global economic forecast, released in Washington on Wednesday, says that China is expected to grow by more than 11 per cent in 2007, while India is expected to expand by nine per cent. It, however, says growth may moderate somewhat across emerging Asia in 2008, reflecting slower trade growth as well as some policy tightening in countries facing overheating pressures.
The increase in India's military spending was "mainly a result of growing personnel and operations costs" which made up almost 80 percent of the total military budget in 2023, the SIPRI report claimed.
'The Chinese being focussed more seawards is definitely better for India with China being the looming threat along our land borders,' says Brigadier S K Chatterji (retd).
The National Security Strategy document should flag all major issues concerning security strategy and provide guidelines to concerned departments to work out suitable action plans. Since the global and regional geopolitical canvas is dynamic, the NSS document should be deliberated at length before formulation and should be reviewed periodically, recommends Commodore Venugopal Menon (retd).
It is learnt that China placed a hold on the proposal by India and the US to designate Mahmood as a global terrorist under the 1267 Al Qaeda Sanctions Committee of the UN Security Council.
Chinese Premier Premier Li Keqiang said world economic recovery should not be driven by mainly China, but in concert with many countries.
India has hit out at China for blocking a move to designate Pakistan-based LeT leader Sajid Mir as a "global terrorist" by the UN, saying it shows a lack of genuine political will to fight the scourge of terrorism.
India's service sector proportionately much larger than China's, while its investment and industrial-production shares are much lower
The new report highlights how different parts of the intelligence community have arrived at disparate judgments about the pandemic's origin.
'If you see another 1000-point correction, people may start panicking.'
The Fujian was launched at a brief ceremony held at the Shanghai shipyard, the official media reported from the eastern metropolis.
The Information Support Force was regarded as the revised version of the PLA's Strategic Support Force, established in 2015 by the Chinese military to deal with space, cyber, political and electronic warfare to fight what was described as "informationised wars".
China on Friday operationalised its first fully electrified bullet train in the remote Himalayan region of Tibet, connecting the provincial capital Lhasa and Nyingchi, a strategically located Tibetan border town close to Arunachal Pradesh.
Qin, who is visiting New Delhi to attend the G20 Foreign Ministers meeting on Thursday, is expected to meet Jaishankar on its sidelines though the foreign ministry here is tight-lipped about it.
China plans to divert about 200 billion cubic metres of water annually from the Brahmaputra at its highest point, namely the Great Bend, where it turns into India. China's Brahmaputra dam will severely impact India, warns former senior RA&W officer and China expert Jayadeva Ranade.
Chinese foreign ministry spokesperson Mao Ning said China believes that state-to-state interactions should be in line with the trend of the time which is peace and development rather than exclusivity.
Pompeo explains how the Donald Trump administration succeeded in bringing India on board the Quad grouping.
Out of 24,230 IIT and NIT grads, about 8,000 students didn't find any takers during campus placement drives this year.
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