Subdued demand from developed countries and blocs like the US and EU is impacting exports of key sectors including engineering, gems and jewellery and may have implications on India's exports in case the global situation does not improve in coming months. Global inflation, Russia-Ukraine war, simmering China-Taiwan crisis and supply disruptions are hurting economic growth worldwide, leading to poor demand, experts say. The world merchandise trade volume is expected to grow 3 per cent in 2022 against the earlier forecast of 4.7 per cent, mainly due to the ongoing war between Russia and Ukraine, according to the World Trade Organization forecast, released in April.
The biggest challenge for workers across the world is to find a perfect balance between work and life.
The Organisation for Economic Cooperation and Development has projected the Indian economy to expand 8.5 per cent in 2011-12, much lower than the growth of 9.6 per cent witnessed in 2010-11 financial year.
According to Organisation for Economic Cooperation and Development's report on gender and employment, there is a worldwide increase in women's participation in the labour force but considerable gaps remain in working hours, conditions of employment and earnings.
Brazil, Russia, India and China, also known as the BRIC group of countries, are expected to overtake the rich countries in primary energy consumption by 2030 and worsen their environmental calamities, Paris-based Organisation for Economic Cooperation and Development has warned. The OECD estimates suggest that 63 per cent population in the BRIC countries is living under medium to severe water stress and this share is expected to increase to 80 per cent by 2030.
It feels worsening economic downturn will dent the internet economy. The only silver lining for the IT sector, which generates about $50 billion for Indian IT services companies, is the likely growth in the services and software sectors 'along with new internet and communications-related products and infrastructure, as they are an essential part of spending and partly recession-proof,' the OECD report said.
Heavy lobbying, lurid language and poor analysis are inhibiting government planning for cyber protection, according to the new report on Systemic Cyber Security published by the Organisation for Economic Cooperation and Development.
In August, the top BRICS leaders at the grouping's summit in Johannesburg approved a proposal to admit six countries, including Argentina, into the bloc with effect from January 1.
The unemployment rate in the OECD region, comprising mostly developed nations, slipped to 8.6 per cent in May, while the count of jobless people in the area stood at 45.9 million during the same month.
Modi said New Delhi has emphasised on dialogue and diplomacy along with restraint to deal with the situation arising out of the Hamas-Israel conflict.
Trade ministers of key WTO member countries, including India would meet on the sidelines of the Organisation for Economic Cooperation and Development meeting in Paris in the last week of May.
The initiative for the consultations among the select ministers was taken by Australian Trade Minister Simon Crean.
India has signed a pact with the British Virgin Islands to check tax evasion and money laundering.
The negotiations are expected to take place in the wake of the issue of black money stashed away in Swiss banks.
The declaration said the SCO leaders reaffirmed their commitment to peaceful settlement of disagreements and disputes between countries through dialogue and consultations.
"The unemployment rate for the OECD area was 8.6 per cent in September 2009, the same as the previous month and 2.3 percentage points higher than a year earlier."
Chief Economic Adviser V Anantha Nageswaran on Thursday said cryptocurrencies are akin to 'a world of Caribbean pirates' in the absence of a centralised regulatory authority and are yet to pass the test of a fiat currency. He said that the government is pursuing a 'high-wire balancing act' to ensure that the gains in growth, inflation, and rupee stability of the last four years are not frittered away. He said the recent development in Terra-Luna cryptocurrency, which witnessed a massive meltdown last month, is a 'very important cautionary tale'.
National Security Advisor Ajit Doval on Wednesday said that the Shanghai Cooperation Organisation members should respect the sovereignty and territorial integrity and seek no unilateral military superiority in adjacent areas.
Four major political takeaways from Narendra Modi's much-anticipated trip to China
At a time when crackdown on tax havens has acquired a political colour, data shows that Swiss banks held securities worth $3.35 trillion in 2008, with over half managed on behalf of foreign entities.
India on Sunday signed three agreements with the US for developing smart cities in Ajmer, Allahabad and Visakhapatnam, with the government saying that the agreements would make significant contribution to building such cities in the country.
India stands top among South Asian countries in pension coverage to its older people, according to a joint report by the World Bank and the Organisation for Economic Cooperation and Development.
Get more people working, get more people working in modern manufacturing and services in our cities, and get people working better and longer, suggests Naushad Forbes, past president, CII.
India says it cannot accept a project that ignores its core concerns on sovereignty and territorial integrity.
At a time when political parties are coming up with poll promises like job guarantees, OECD, a group of rich nations, has found that nine in 10 employees in India do not have a formal labour contract and social security benefits such as advance dismissal notices.
Lou also spoke about China's tensions with neighbouring countries without directly mentioning the eastern Ladakh border standoff with India since May 2020 which resulted in the Galwan Valley clash in June of that year.
Borrowing from BRICS bank will help India avoid other kinds of politics emanating from the West. Overall, the BRICS institutions will necessarily adopt alternative ways of doing things based on their own cultural and socio economic needs, says M K Venu.
"On space, we will be able to announce that India is signing the Artemis Accords, which advance a common vision for space exploration for the benefit of all humankind," a senior administration official said hours before the meeting between Prime Minister Narendra Modi and President Joe Biden in the Oval Office.
The Air Chief Marshal also said that India's rise in the Global South marks a "pivotal point" in international affairs.
In its set of recommendations, the China Committee said that economic sanctions against China in case of an attack on Taiwan will be most effective if key allies such as G7, NATO, NATO+5, and Quad members join, and negotiating a joint response and broadcasting this message publicly have the added benefit of enhancing deterrence.
In an address at the Council of Heads of Government meeting of the eight-member SCO, Vice President Venkaiah Naidu said the most important challenge faced by the region is terrorism, particularly cross-border terrorism, and that India remained concerned about threats emerging from ungoverned spaces as well.
Chinese and Russian warplanes on Tuesday conducted joint air patrols over the Sea of Japan, the East China Sea and the West Pacific Ocean as the leaders of Quad held their in-person summit in Tokyo, in an apparent attempt to send a message of unity between Beijing and Moscow.
'Terrorism continues to be the overwhelming threat to security and stability in the SCO region and therefore Dr Jaishankar strongly pitched for 'collective action',' observes Dr Rajaram Panda.
At the invitation of Prime Minister Narendra Modi, President Xi Jinping and PM Shehbaz Sharif will attend via video conference, the 23rd meeting of the Council of Heads meeting of the SCO on July 4.
