Indian policymakers are almost alone, alongside the United States, in seeking a hard and multi-sectoral global decoupling from China in the expectation that it will boost their economies, observes Mihir S Sharma.
The European Union said on Friday that it would abide by the World Trade Organisation ruling that has favoured India in the bed linen dispute.\n\n\n\n
Within a week of a British court striking down the interim cap on professionals from India and other non-EU countries, the Home Office made necessary changes to the measure and announced that the cap until April 2011 was 'legal and up and running'.
Iran was ousted from the United Nations Commission on the Status of Women on Wednesday evening in the wake of the Mahsa Amini protest.
The Reserve Bank on Wednesday allowed inbound travellers from G20 nations arriving at select airports to use the popular UPI for making payments in the country. Later, the RBI also proposes to extend the Unified Payments Interface (UPI) facility to travellers from all countries. UPI is a system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing & merchant payments into one hood.
Officials from India and the United Kingdom (UK) are working overtime to address the contentious issues related to the proposed free trade agreement (FTA) between the two nations, in a final push to conclude the deal by the year-end. Commerce secretary Sunil Barthwal was headed to London on Thursday after completing his four-day visit to Brazil. Other key officials from India's negotiating team will be joining Barthwal in the UK capital, hoping to make headway in the FTA negotiations, which started in January last year, a person aware of the matter told Business Standard.
Underlining the contribution of non-resident Indians, Union Finance Minister Nirmala Sitharaman on Tuesday said remittances sent to the country by overseas Indians were about $100 billion for the year 2022, an increase of 12 per cent in one year. Speaking at a session during the Pravasi Bharatiya Divas (PBD) convention in Madhya Pradesh's Indore city, she described NRIs as the "real ambassadors of India" and appealed to them to use made in India products and services as far as possible so that the country's individual brand can be promoted across the globe. Sitharaman also said that after the "China plus one" policy, the world is now talking about the "European Union (EU) plus one" policy.
Grabbing the opportunity, companies are lining up with investment in Uttar Pradesh, Punjab and Haryana for processing plants to milk the export market. Global giants such as Group Danone and Fonterra are firmly in India.
Tough intellectual property rights sought by the EU in its free trade agreement with India have set off global protests
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Trade ministers and diplomats from around 130 countries are participating in the four-day meeting that started on Tuesday.
The Netherlands has emerged as India's fifth-largest export destination in 2021-22 (FY22), jumping from its 10th position a year ago. Exports to the fifth-largest economy in the European Union (EU) bolted 94 per cent to $12.5 billion in the financial year ended March 31. In FY22, the Netherlands surpassed Hong Kong, Singapore, the UK, Germany, and Nepal to become India's largest export destination in the EU. Germany, which was earlier India's top European export destination (eighth position), has now dropped two ranks to 10th place.
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.
The chemicals sector's recovery could be delayed until FY25 if the current trends of weak demand and flat pricing continue. Following a subdued September quarter, the revenue and profit performance of listed chemicals companies are anticipated to fall short of initial expectations of an improvement. Despite some price stability, the demand trajectory remains uncertain.
The G20 leaders will deliberate on pressing global issues at the grouping's annual summit here on September 9 and 10. India is hosting the summit in its capacity as the current G20 chair.
Now that the vaccination drive is in full force and Covid-19 restrictions are easing up, Prime Minister Narendra Modi is expected to follow a busy diplomatic calendar in the coming days.
Prime Minister Narendra Modi and US President Joe Biden are set to hold bilateral talks on Friday evening with a focus on further solidifying the India-US comprehensive global and strategic partnership.
What all global leaders need to understand is that no Generative AI regulation will work unless they start with the basics, which is data collection, asserts Prosenjit Datta.
It said it looked forward to the consolidation of the ties through the ongoing composite dialogue 'in an atmosphere free from the menace of terrorism and violence'.
Agreeing to resist protectionism in global trade, India and the European Union announced reaching the final stage of a trade and investment opening pact, billed as one of the largest bilateral agreements.
Noting India's need to raise power generation capacity to four lakh MW by 2030, President A P J Abdul Kalam on Wednesday sought 'intensive cooperation' with the European Union in the field of energy, including nuclear, to help achieve the goal.
There is no official word either from China or from India on who will represent Beijing at the upcoming G20 summit.
The objective of the study was to determine the genetic diversity among Indian SARS-CoV-2 viral isolates in comparison to the strains that are occurring worldwide.
Prime Minister Manmohan Singh left here for home on Tuesday night at the end of his nine-day visit to the US and France, during which the landmark nuclear cooperation agreement was signed with the latter.
'The two sides agree to continue firmly supporting each other in safeguarding their respective core interests,' a joint statement issued at the end of Muizzu's talks with Chinese leaders said.
In a move, which could impact Indian textiles exporters, European Union is considering modelling its 'Rules of Origin' for imports on the lines of that present in the United States.
Former Niti Aayog Vice Chairman Arvind Panagariya has opined that cutting trade with Beijing at this juncture would amount to sacrificing India's potential economic growth.
World's costliest rice, Indian basmati, may lose the tariff concession it gets in the European Union if the region's latest draft on new rice import regime is made into a law
'A change we have seen after the Russia-Ukraine war is the energy crisis in Europe.' 'Earlier, in Europe, people used to change their clothes after 5 washes, now they are using it till 15-20 washes.' 'They used to change their entire wardrobe after 2 months or so, but because of the economic conditions, it has changed.' 'It has affected exports as 40% of our exports is to Europe, 30% to the US and 10% to the UK.' 'The war has to end for better days to come.'
Macron's office said the President will travel to Delhi to participate in the G20 Summit on September 9 and 10 following which he will leave for Bangladesh for a bilateral visit.
The US hails the landmark 'India-Middle East-Europe Economic Corridor' which will usher in a new era of connectivity from Europe to Asia and will stimulate economic growth across the two continents.
The team originally comprised 27 parliamentarians, mostly from extreme right or right wing parties, but four did not travel to Kashmir and have reportedly returned to their respective countries, officials said.
"In principle, the ask in return is that India should not support the G7 (Group of Seven) proposal. "A decision on this issue will be taken later following talks with all the partners," an official with the Ministry of External Affairs (MEA) said.These "substantial discounts" will be steeper than those offered by Iraq in the past two months, officials said.
As casualty figures rose from the devastating quake the European Commission, the EU's executive arm, said up to three million euros could be approved within a day if requested by agencies working on the ground.
Prime Minister Narendra Modi will leave for the Belgian capital as part of a three-nation tour during which he will attend the Nuclear Security Summit in Washington and visit.
The external environment has worsened further. While the Finnish economy entered into a recession, Swedish economic growth also dipped. The Finnish gross domestic product (GDP) dropped 0.6 per cent in October-December, 2022. It was the second quarter of negative growth, which is a technical definition of recession.
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