Even as the domestic pharmaceutical industry is exploring new markets in Latin America and the Commonwealth of Independent States, exports to countries in Africa are declining.
For instance, Tata Consultancy Services recently won a $200 million deal in Mexico, Wipro announced the opening of a development centre in Australia, and Infosys announced the setting up of 'The New Growth Engines' business unit in Latin America.
Foreign Secretary Shivshankar Menon held special briefing sessions in groups for the envoys of the countries from Arab world besides those from Latin America, Africa and Europe.
A new agreement has been clinched with pharmaceutical firms to substantially decrease the cost of treating AIDS in 66 countries in Asia, Latin America, Africa and the Caribbean, former US President Bill Clinton has announced.
Maruti Suzuki India Ltd (MSIL), the largest passenger vehicle manufacturer in India, has set a road map to expand its global presence by targeting exports of 800,000 units by the end of this decade -- almost double the approximately 280,000 units sent abroad in 2023-24, Rahul Bharti, executive director, corporate affairs, told Business Standard. The company's upcoming electric vehicle (EV) strategy is expected to play a crucial role in its global ambitions.
This year's US Open runs from Aug. 28-Sept. 10.
Most global as well as domestic brokerages are upbeat on India's largest IT services provider, Tata Consultancy Services (TCS), despite its performance during the December quarter of FY25, when it missed Street estimates. On the bourses, the TCS share price rallied as much as 6.44 per cent to hit an intraday high of Rs 4,296.80 apiece, before settling 5.67 per cent higher at Rs 4,265.55.
Sedans and hatchbacks have both lost market share to SUVs, which now account for more than 50% share of the 4 million-odd-unit PV market in the country.
Mountaineer Ajeet Bajaj and his 28-year-old daughter Deeya Bajaj are the first Indians to complete the Explorers Grand Slam.
Godrej Consumer Products Ltd (GCPL) reported a 2 per cent year-on-year (Y-o-Y) increase in consolidated revenue to Rs 3,670 crore. Organic revenue growth in constant currency was up 14 per cent Y-o-Y. Consolidated operating profit was up 5 per cent to Rs 760 crore, profit before tax grew 10 per cent Y-o-Y to Rs 710 crore, and adjusted net profit grew 12 per cent Y-o-Y to Rs 490 crore.
The Department of Pharmaceuticals has submitted a freight subsidy scheme for exporters to the Commerce Ministry so that they could take alternate routes and avoid transit through Europe, which is a shorter route with better connectivity.
Jaishankar, who arrived in Santo Domingo on his first official visit to the Dominican Republic, also said that India has seen a dramatic expansion in connectivity, contacts, and cooperation across the region.
More than half (56 per cent) of chief economists expect the global economy to weaken in 2024, with most saying the pace of geo-economic fragmentation will accelerate, according to the latest "Chief Economists Outlook" released on Monday at the World Economic Forum (WEF). The report indicates that the global economic prospects remain subdued and uncertain. Challenges include tight financial conditions, geopolitical rifts, and the rapid development of generative artificial intelligence (AI).
Energy-hungry India is scouting for oil and gas assets in Central Asia, Africa and Latin America to feed the requirements of its rapidly expanding economy.
Fortunes of five richest men have more than doubled since 2020 and the world could have its first-ever trillionaire in just a decade while it would take more than two centuries to end poverty, rights group Oxfam said on Monday.
Godrej Consumer Products (GCPL) reported 6 per cent year-on-year (Y-o-Y) consolidated net revenue growth in Q4FY24 to Rs 3,385 crore and this was impacted adversely by currency movement. The constant currency (CC) growth would have been 30 per cent Y-o-Y in Q4FY24. India business clocked 12 per cent Y-o-Y revenue growth (5 per cent of it organic) with volume growth of 15 per cent Y-o-Y (7 per cent organic).
Consulting and IT services giant Accenture announced two new services - digital and strategy - and key appointments to enhance its position in growth markets like Asia Pacific, Africa and Latin America.
'Bilateral trade has suffered seriously because of the growing unrest.' 'There is a standstill on both sides amid the curfew.'
'Communist China continues to aggressively expand its domain in the Indo-Pacific region.' 'It's crucial for the USA to continue its support in countering these malicious tactics.' 'India, along with other nations in the region, is not alone.'
Russian Foreign Minister Sergey Lavrov said Moscow sees the prospect of making the Security Council more democratic, exclusively, through broadening the representation of countries from Africa, Asia and Latin America.
This may be in line with Russia's private military company, Wagner Group, which was controlled until 2023 by Yevgeny Prigozhin, a former close ally of Russia's president Vladimir Putin. The group used the infrastructure of the Russian Armed Forces.
Maruti Suzuki India on Tuesday reported a 28 per cent rise in exports at 263,068 units in 2022, its highest ever overseas shipments. The company's previous highest exports was achieved in 2021 with 205,450 units. The highest exported models in 2022 were Dzire, Swift, S-Presso, Baleno and Brezza, the company said in a statement.
'We operate in 16 countries already, and therefore adding the UK to it, and beginning a chapter in the European continent is the next step.'
Bajaj Auto reported steady results in Q1FY25, with revenue surging 16 per cent year-on-year (Y-o-Y), operating profit registering a growth of 24 per cent Y-o-Y, and margins swelling 20.2 per cent. The profitability was aided by 50 basis points (bps) on the accrual of PLI benefits. The domestic prospects for two-wheelers are healthy, though the response to the newly launched CNG motorcycle is a key monitorable.
Maruti's exports are limited and mainly to countries in Africa and Latin America.
Eight of the newly named cardinals are from Europe, six from Asia, two from Africa, one from North America, and four from Central and Latin America.
'While on the one hand, terrorism continues to be a serious threat to global peace and security, on the other hand, areas such as cyber, maritime and space, are emerging as new theatres of conflict'
Two-wheeler exports from India have decreased by 20 per cent year-on-year (Y-o-Y) to 1.69 million units in the first half (H1) of 2023-24 (FY24) due to a challenging geopolitical situation and foreign exchange (forex) crises in key markets such as South Asia, industry body Society of Indian Automobile Manufacturers (Siam) said on Monday. On the other hand, passenger vehicle (PV) exports in H1FY24 increased by 5 per cent to 336,754 units because the key markets are much more diversified worldwide, Vinod Aggarwal, president, Siam, told reporters during a press conference. The Russia-Ukraine war, which started in February 2022, has brought significant instability to global fuel prices.
Notwithstanding the uncertainty over the Indo-US Nuclear deal in the face of Left opposition, the IBSA summit will provide a useful opportunity to Dr Singh to garner the support of Brazil and South Africa, influential members of the 45-nation Nuclear Suppliers Group, for global civil nuclear cooperation.
Growth rates in traditional markets are slowing and airlines need to reshape their networks.
Airlines in the Asia-Pacific region are expected to corner the maximum profits this year, with the aviation industry's umbrella body IATA projecting a global profit of $8.9 billion in 2010.
From zero revenues eight years ago, Lupin has posted Rs 621 crore (Rs 6.21 billion) in sales last year-that too in a country regarded as one of the toughest markets in the world for generics.
India will continue to be a focus of the European Community's humanitarian assistance in 2013, but five major global hotspots of crises, including Pakistan, will receive the largest chunk of over 661 million Euro aid earmarked for this year, the European Commission has said.
Let's take a look at how coffee is processed and shipped in El Salvador.
US nominee for World Bank president, Ajay Banga, has tested positive for COVID-19 following which the meetings scheduled during his two-day visit to India have been cancelled. According to a Finance Ministry statement, Banga's meeting with Nirmala Sitharaman would not happen as he is in quarantine. "During routine testing, Ajay Banga tested positive for COVID-19 but remains asymptomatic.
The financial services industry, especially banking, is in the midst of massive upgrade of existing IT set ups to cope with future regulatory and customer-driven online and mobile services, said Vijay Sharma, vice president & head domain & industry advisory services for banking, financial services and insurance.
India has said the United Nations Security Council in its present structure is "completely out of tune" with global realities and serves "no one's purpose", asserting that an expansion in the 15-member body should have permanent representation from Asia, Africa and Latin America.
Global Emerging Middle (GEM) is the next big market, says PwC. In India, this segment is expected to cross the USD 1 trillion threshold by 2021; globally the figure is expected to be in excess of USD 6 trillion by 2021.
Till recently considered a niche area, organic foods and drinks have come a long way.
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