S&P Global Ratings on Friday said it will watch the fiscal numbers for the next 1-2 years, besides pro-growth policies of the new government, before deciding on India's sovereign rating upgrade. S&P, which earlier this week upgraded India's outlook to positive while retaining the sovereign rating at BBB-, expects the new government to continue with pro-growth policies, infrastructure investment and commitment to fiscal consolidation.
Global rating agency Standard & Poor's on Thursday warned Asia may see lower growth this year due to adverse impact of oil price pressure and tsunami, but said India will be an 'exception.'
The Summit comes at a time when China is flexing its muscle to tighten its grip over the disputed South China Sea.
Cognizant Technology Solutions has restructured its global growth markets (GGM) by appointing two internal leaders who will now share the responsibility. The move follows the exit of former GGM leader Rob Walker last month and is among the slew of leadership changes the company has seen in the recent past. GGM refers to the company's emerging markets outside of North America.
S&P Global Ratings on Monday cut India's economic growth forecast for current fiscal year to 7 per cent, but said the domestic demand-led economy will be less impacted by the global slowdown. S&P had in September projected the Indian economy to grow 7.3 per cent in 2022-23 and 6.5 per cent in next fiscal year (2023-24). "The global slowdown will have less impact on domestic demand-led economies such as India... India's output will expand 7 per cent in fiscal year 2022-2023 and 6 per cent in next fiscal year," S&P Global Ratings Asia-Pacific chief economist Louis Kuijs said.
On India strategy, Barclay said it would continue to grow the business in the same way as it has been growing in the last 5 years.
The Asia-Pacific Mobile Alliance plans to promote voice, video and data via members' GSM/GPRS and W-CDMA networks.
The Union Ministry of Tourism has bagged the 2005 PATA Grand Award for Heritage for its Ajanta Ellora Conservation and Tourism Development Project.
The United States-China Summit meeting concluded at a sprawling mansion in Woodside, California with Presidents Joe Biden and Xi Jinping agreeing to work towards ensuring that the differences between the two countries remain manageable and the relations do not derail.
'IT companies do not have a large presence there either in terms of market and team. So, the impact of the war will be minimal. But West Asia is an emerging economy.'
'Narasimha Rao asked me why China was doing so well in attracting foreign investments and I gave my frank opinion.' 'I told him that giving thrust to exports had to be a national effort.' 'But in India, the system was very centralised in the Government of India and the state governments had no role to play.'
Human rights situation deteriorated in much of Asia and Pacific region in the first quarter of this year, with conflicts in Sri Lanka and Pakistan adversely affecting innocent civilians, global human rights body Amnesty International said on Thursday.
In the first 100 days of the next government, the ministry of skill development and entrepreneurship (MSDE) is planning to introduce new-age courses to suit the changing industry needs. It is set to standardise skilling courses to facilitate easier migration of workers and introduce counselling and mentorship on the Skill India Digital Hub (SIDH) portal. On Sunday, Prime Minister Narendra Modi - during a Cabinet meeting - was reported to have instructed his ministers to draft roadmaps for the first 100 days and next five years of the next government.
India is expected to contribute 15 per cent to the global growth in 2023, an International Monetary Fund (IMF) official said on Tuesday. "Both India and China are expected to contribute 50 per cent of the global growth in the upcoming year (2023). "However, the share of India's contribution to global growth is expected to be around 15 per cent," Krishna Srinivasan, director, Asia and Pacific Department (APD) at IMF said at a roundtable with reporters from south Asian countries.
Jain was the architect of Deutsche's investment banking business and placed one of his former trading heads, Alan Cloete, in Hong Kong as co-CEO for Asia Pacific in 2012.
Tata Consultancy Services (TCS) has to "keep evolving" and be relevant to clients as generative artificial intelligence (GenAI) technologies emerge, K Krithivasan, chief executive officer and managing director of the IT company, has said in a New Year's message to employees. "It is always heartening to see the reinforcement of how strong our relationships are with our clients and the level of trust they place with us.
In recent months, several pharma multinational corporations (MNCs) are increasingly turning to Indian companies to expand market reach in the country's pharmaceuticals sector. Sanofi's partnerships with Dr Reddy's, Cipla, and Emcure, AstraZeneca and Mankind Pharma - teaming up for asthma medication distribution - are a few instances of this trend. This strategy allows MNCs to leverage established Indian networks and reach a wider audience. Indian companies also benefit from global brands and expertise, say analysts.
David H McCormick, under secretary for international affairs at the US Department of Treasury, said on Tuesday that in an era of global trade and investment both the US and Asia need each other to maintain strong economic growth. McCormick was speaking at the Asia Society on 'US-Asia Economic Relations -- the Next Chapter,'.
"No other relationship of India has as many layers as our relations with China. We are the world's two most populous countries and among the fastest growing major economies. Our cooperation is expanding," he said.
The United States today is stronger at home and more respected in the world, Hillary Clinton has said in her last foreign policy speech as the secretary of state.
Ahead of his much-anticipated visit to conflict-torn Ukraine, Prime Minister Narendra Modi on Thursday said India firmly believes that no problem can be solved on the battlefield and it is ready to extend all possible cooperation for the restoration of peace and stability in the region.
Amazon Web Services (AWS) will invest nearly $4.4 billion (Rs 36,000 crore) in India by 2030 and support more than 48,000 jobs externally through a new regional service launched on Tuesday, said the on-demand Cloud computing company. AWS Asia Pacific (Hyderabad) is the company's second infrastructure region in India, six years after it opened its first Cloud region in Mumbai in 2016. The Hyderabad region will give customers access to AWS technologies for data analytics, security, machine learning, and artificial intelligence.
US envoy Eric Garcetti on Thursday said he respects that India likes its "strategic autonomy", but in times of conflict, there is no such thing as strategic autonomy, even as he pitched for forging a stronger partnership between New Delhi and Washington.
Shigeru Ishiba is expected to prioritise strengthening Japan's military capabilities and fostering deeper international partnerships, particularly with India, with whom Japan shares significant strategic interests, explains Dr Rajaram Panda.
United States President Joe Biden will travel to India from September 7 to 10 to attend the G-20 Leaders' Summit during which he will discuss with other leaders a range of global challenges, including the Ukraine conflict, the White House announced on Tuesday.
India has become the largest market for Visa debit and pre-paid cards in Asia-Pacific with about 3.39 crore card-holders in 2006, accounting for about 34 per cent of the company's total customer-base of 10 crore in the region.
Indians are the most passionate, television-driven music consumers in Asia
Amid raging tension in the Korean peninsula, new Chinese President Xi Jinping on Sunday warned that no one should be allowed to throw the region into chaos for "selfish gains", saying future of rapidly growing Asia depends on peace and stability.
Sports films have their own unique charm, but those centered on the Olympics and Olympians stand apart, depicting unparalleled tales of grit, guts, gumption, and glory.
Luxury carmaker Lamborghini has announced that its hybrid super sports car, Revuelto, is sold out in India and globally for 2024. The strong demand for the Revuelto is driven by a growing number of new customers, including a 20 per cent increase in first-time buyers in India. Lamborghini is also evaluating the possibility of opening new dealerships in smaller towns in eastern and southern India within the next one to two years.
India has the third highest number of billionaires in the world after the US and China, according to a new list by the prestigious Forbes magazine, which said Reliance Industries chairman Mukesh Ambani reclaimed his spot as Asia's richest person, dethroning Chinese business tycoon Jack Ma who was the richest person in the region a year ago.
Rising Indian driver Jaden R Pariat has been invited to the Ferrari Driver Academy (FDA) selection trials.
"China creeps towards hegemony in Asia, threatens India's borders, and treats other countries as junior partners, Indian-American Congressman Ro Khanna said.
The list, comprising 48 people, also includes four each from Australia, China, Hong Kong, Indonesia, Japan, Malaysia, Philippines, Singapore, South Korea, Taiwan and Thailand.
"With the US recording two successive quarters of weak growth, we anticipate Asia will soon begin to feel the pinch of slower demand across the Pacific," said Daniel Melser, senior economist in Moody's Economy.com, a unit of Moody's Corporation. If history is a guide, then expect export numbers around the region to begin sliding in the second and third quarters of 2008, Moody's Economy.com said in its latest report.
As the United States focuses on the Indo-Pacific, in particular the Quad, the Biden administration needs to address India's ties with Russia and its 'downward trend of democratic values and institutions', said a report by the Democratic Party of the Senate Foreign Affairs Committee.
The world should remain clear that Pakistan must continue to take 'credible, verifiable and irreversible' action against terrorism, India said after anti-money laundering watchdog Financial Action Task Force (FATF) removed the neighbouring country from its 'grey list'.
S&P Global Ratings on Monday raised India's growth forecast for the current financial year to 6.4 per cent, from 6 per cent, saying that robust domestic momentum has offset headwinds from high food inflation and weak exports. The US-based rating agency, however, has cut growth estimates for the next fiscal (2024-25) to 6.4 per cent, as it expects growth to slow in the second half (October-March) of the current fiscal, on higher base impact and subdued global growth.
