IMF Chief Economist Gita Gopinath also said the pickup in global growth for 2020 remains highly uncertain as it relies on improved growth outcomes for stressed economies like Argentina, Iran, and Turkey and for under-performing emerging and developing economies such as Brazil, India, and Mexico.
In his address at the Plenary session of the 18th SCO summit in Qingdao, Modi coined an acronym 'SECURE' which he explained: 'S' for security for citizens, 'E' for economic development, 'C' for connectivity in the region, 'U' for unity, 'R' for respect of sovereignty and integrity, 'E' for environment protection.
PM Modi proposed a USD one billion line of credit to promote projects that support physical and digital connectivity between India and ASEAN.
Vardhan emphasised on how the Indian traditional system of medicine has also contributed substantially in boosting the immunity of general population during COVID-19.
Modi said a separate rating agency would help the economies of the member countries as well as other developing nations.
He urged every investor to follow his steps and invest in Gujarat.
RBI Governor Shaktikanta Das on Thursday said financial inclusion will continue to be a "policy priority" for the central bank to make the post-pandemic recovery more equitable and sustainable. The Reserve Bank of India will very soon be coming out with the first financial inclusion index, which will assess progress in terms of access, usage and quality, Das said, while speaking at the Economic Times Financial Inclusion Summit. It is the responsibility of all stakeholders to ensure that the financial ecosystem (including the digital medium) is inclusive and capable of effectively addressing risks like mis-selling, cybersecurity, data privacy and promoting trust in the financial system through appropriate financial education and awareness, he added.
He also said that post demonetisation, black money, which was part of a parallel economy, has now become part of the formal system.
Here's a recap of events that occurred in India in the past 24 hours.
The five-year-old Chinese brand's assent to the summit comes after a year of astounding rise -- often growing by over 200 percent a quarter, reports Arnab Dutta.
Amazon's fresh investment in its India entities come at a time when the Seattle-based firm has faced losses in several of its business entities in India, such as seller services, wholesale, transportation services and digital payments, for the 2018-19 financial year.
In the last couple of months, the Prime Minister has visited Japan and the US and launched the Make in India campaign to lure foreign investments into manufacturing sector.
Indian govt is trying hard to get global investors to invest in the country.
Modi will arrive in France on Thursday evening and straightaway head for talks with Macron, who will also host a working dinner for the visiting leader.
This is Ivanka Trump's first big solo outing on the international stage.
Chinese foreign ministry spokesperson Hua Chunying said Chinese President Xi Jinping called for moving globalisation to a more open, inclusive, universal, balanced and win-win direction.
England will meet Australia in the final after the Southern Stars demolished hosts and last edition's winners West Indies by 71 runs.
Investors from across the globe are keen to invest in Gujarat.
Modi met Hasina for a bilateral meeting on the margins of the high level segment of the 74th session of the UN General Assembly on Friday.
Leaders need to be ready to adapt to technological changes as quickly as possible, while they build the tech capabilities, Nadella said.
The leaders of the two countries "discussed the main aspects of bilateral cooperation and exchanged views on current regional topics, including developments in South Asia," said a brief statement issued by the Russian President's office - Kremlin.
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."
The two leaders enjoyed the sunshine with a walk in the grounds of Schloss Meseberg, an 18th century Baroque castle in the Brandenburg district of Germany.
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.
'This novel format of diplomacy -- the informal summit -- will not only facilitate bilateral communication and reduce miscalculations at the very top level of the two governments, but possibly open the space for China and India to speak in one voice on various issues of mutual concern,' note Feng Renjie and Ding Kun Lei
Prime Minister Narendra Modi returned home on Thursday after a nine-day-three-nation tour of Myanmar, Australia and Fiji during which he had a range of international engagements.
The PM said there was a need to tackle the problem of terrorism in an organised manner.
"Indian-Americans are an 'organic bridge' between the world's two largest democracies," he said.
Quad leaders are also planning to roll out vaccine deliverables and announce a series of measures in the field of healthcare and infrastructure sector, officials in Washington, DC said.
Unveiling his infrastructure conglomerate's green vision, billionaire Gautam Adani on Tuesday said his group will invest $20 billion over the next 10 years in renewable energy generation and component manufacturing and will produce the world's cheapest green electron. The port-to-energy conglomerate plans to triple its renewable power generation capacity over the next four years, foray into green hydrogen production, power all data centres with renewable energy, turn its ports into net carbon zero by 2025, and plans to spend over 75 per cent of capital expenditure until 2025 in green technologies, he said. Speaking at JP Morgan India Investor Summit, Adani Group chairman said the USD 20 billion investment will be in renewable energy generation, component manufacturing, transmission and distribution.
Manu Kumar Jain, vice-president, Xiaomi, and managing director, Xiaomi India, shares his thoughts with Arnab Dutta on how the firm has put India on the forefront.
IT industry body Nasscom on Tuesday said the sector will regain double-digit growth from April next year leaving behind the prolonged recession.
'It could tempt investors to pick stocks that are not fundamentally sound.'
Prime Minister Narendra Modi made a strong pitch for deeper ties in key areas of counter-terrorism, climate change and UN reforms.
'Beijing is comfortable with Hasina's pragmatism -- perceived as 'pro-India', but staying out of Indian orbit and receptive to forging close ties with China and yet, siding with neither neighbour,' says Ambassador M K Bhadrakumar.
'There will be partnerships between banks and fintech firms, but there will also be areas where they will be direct competitors.'
Modi hailed the close defence cooperation between the two countries and welcomed the completion of the logistics agreement between the two navies.
"The bilaterals amidst the multilateral. PM @narendramodi meets Premier Li Kequiang of China for first engagement," External Affairs Ministry Spokesman Vikas Swarup tweeted.
Prime Minister Narendra Modi on Friday called for developing a template by the Shanghai Cooperation Organisation (SCO) to effectively deal with the challenges of extremism and radicalisation.
The defence and aerospace sectors have seen at least over Rs 10,000 crore worth of MoUs being signed during the summit.
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