China will also set up 50 joint laboratories with countries participating in the Belt and Road initiative to enhance cooperation on innovation.
Chanda Kochhar is among the three Indians in Time's Most Influential list.
No prizes for guessing what the BJP's election campaign is going to be, and who will provide important inputs for it.
China's CSI300 stock index shed 1.1 per cent, hitting a five-week low, while shares of Hong Kong-listed Chinese companies sagged 0.9 per cent.
'Whichever option India chooses, it should be clear to the government that the China-Pakistan nexus poses a clear and present danger to national security,' says Brigadier Gurmeet Kanwal (retd).
Ahead of the 2023-24 Union Budget, the thinking at the top level of the central government is clear: Gross domestic product (GDP) growth of 6-6.5 per cent is a comfortable enough target for FY24 and the focus should be on fiscal consolidation to ensure that the sovereign cost of borrowing does not become prohibitively expensive in a high-interest rate environment, according to people in the know. Those aware of deliberations between the Prime Minister's Office (PMO) and the Ministry of Finance said while the Budget would look to strike a balance between infrastructure investment and welfare schemes, it is unlikely to be populist, though it will be the last full-year Budget before the 2024 Lok Sabha election. Incidentally, 6-6.5 per cent GDP growth is what the upcoming 2022-23 Economic Survey is expected to project for FY24.
Bhargav Dasgupta, managing director and chief executive officer of ICICI Lombard, tells Subrata Panda, in an interview that the company has adequate capital for now and does not see a need for fresh infusion through markets over the next few years.
The Asian Development Bank on Wednesday revised down India's economic growth forecast for the current fiscal to 10 per cent, from 11 per cent predicted earlier, citing the adverse impact of the second wave of the pandemic. The growth forecast for India in fiscal year 2021 (ending in March 2022) was revised down, as the spike in COVID-19 cases during May dented the recovery, the Asian Development Bank (ADB) said in its latest economic outlook. "The outbreak, however, dissipated faster than anticipated, resulting in several states easing lockdown measures and returning to more normal travel patterns.
'India and China have to make concrete progress with regard to the border issue, addressing the trade deficit, and facilitating people-to-people interactions. This has to happen in the next two, three years.' China expert Tansen Sen tells Sheela Bhatt/Rediff.com how India and China can take their relations to the next level.
The death toll in the Chinese cruise ship that capsized in the mighty Yangtze river on Saturday jumped to nearly 400 as hundreds more bodies were found by disaster teams, making it China's deadliest boat disaster in 70 years.
Outlining eight "pillars" for the future of India-China relations, President Pranab Mukherjee on Wednesday underlined the need for comprehensively resolving challenges including the boundary question through "political acumen" and "civilisational wisdom".
If the CBDCs don't offer interest, why will people shift from cash to CBDCs?, asks Tamal Bandyopadhyay.
We're behaving like frogs in warm water. We swim around untroubled, cooled by our faith in Indian liberal democracy. We are blind to the bubbles popping around us, the bubbles warning of fundamental changes, says Mihir S Sharma.
'Extending the range of the DF-21D could challenge Indian aircraft carriers if the missiles are launched from southwest China. Also, if Pakistan acquires these systems, these missiles could directly challenge India's aircraft carriers.'
The prejudices the Chinese carry with them mean they are not natural global managers.
Srikanth Kondapalli on what to expect from the seventh BRICS summit meeting to be held in Russia in July.
There was no comment from the Indian side on the statement made by the Chinese defence ministry spokesperson Colonel Wu Qian, and carried by China's official media.
The yellow metal has risen 6.6 per cent since mid-August
On development of infrastructure by China in border areas, the Army chief said it is going on unabated.
Gandhi had, on April 12, flagged the issue of alleged takeover of some Indian companies after those became vulnerable in the wake of the economic slowdown.
Indian and Chinese militaries on Monday moved back their frontline troops to the rear locations from the face-off site of Patrolling Point 15 in the Gogra-Hotsprings area in eastern Ladakh and dismantled temporary infrastructure there as part of a five-day disengagement process.
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The World Bank in its report said the relative importance of remittances as a source of external resources is expected to increase further.
The 30-member committee, chaired by senior Bharatiya Janata Party leader and former Union minister Jual Oram and of which Rahul Gandhi is also a member,wishes to visit the eastern Ladakh region in the last week of May or in June.
However, the deployment in the frontline areas has remained the same and the troops from both sides remain in an eyeball to eyeball situation at several locations in that sector.
The announcement of the formation of the BRICS bank will have as much an impact about how the non-G7 countries manage their economies and their foreign reserves, as it does on the intellectual discourse. The development priorities and agenda which was hitherto set by western experts responding mostly to western priorities and notions will now have to compete with an intellectual tradition that is and can be very different, says Mohan Guruswamy.
Wang began a two-day trip to Pakistan on Tuesday primarily to attend a meeting of the Council of Foreign Ministers of the Organisation Islamic Cooperation (OIC) as a special guest.
Whereas the headline growth rate appears very respectable, India needs faster to growth to generate jobs.
'However, a lot of preparatory work would have to go in and China must be prepared to announce an end to the standoff by disengaging from the remaining areas along the LAC.'
Without bringing sound governance and technical capabilities into the RBI's work, injecting new money sets the stage for a next wave of bad behaviour by banks, warns Ajay Shah.
Nepal's Prime Minister Sher Bahadur Deuba on Monday inaugurated the country's second international airport built by China that will help connect Lumbini, the birthplace of Lord Buddha and a major tourist and pilgrimage destination, to Buddhist circuits in South Asia as well as to the rest of the world.
If the visit takes place, it will be the first trip by a senior Chinese leader to India after the eastern Ladakh standoff between the two countries began in May 2020.
The government on Saturday made its prior approval mandatory for foreign investments from countries that share land border with India to curb 'opportunistic takeovers' of domestic firms following the COVID-19 pandemic, a move which will restrict Foreign Direct Investment from China.
'With the recent challenging of the notion of the Indian Ocean Region being India's strategic backyard, China is gradually upping the ante in the maritime realm around India.'
The only real solution to the jobs crisis, whether in India or abroad, is to direct tech innovation towards job enhancing sectors, and disincentivising job-replacing ones, observes R Jagannathan.
Says impact of crisis in China won't be as big here as in some other countries
'We have 750 districts across the country, and each district can create one cluster like Tirupur on any product of their choice.' 'This way, we can even have $3 trillion in exports.'
Indian Army officers are convinced China is maintaining the pretence of dialogue and negotiations in order to create the opportunity to occupy more Indian territory. Senior Indian planners apprehend this might be a Chinese ploy to divert attention from Depsang, in Northern Ladakh, which might be China's actual target.
India has the best hiring outlook globally, second only to Brazil, with 54 per cent of companies surveyed planning to hire in the December quarter as against 51 per cent in the September quarter, according to a report by global staffing firm ManpowerGroup. The report titled "ManpowerGroup Employment Outlook Survey" showed that India has the strongest net employment outlook for the December quarter in the Asia-Pacific region, followed by China (46 per cent), and Australia (38 per cent). The global net employment outlook in the December quarter would stand at 30 per cent, down by three percentage points from the June-September quarter, yet six percentage points higher than the same period last year, the staffing firm said.
Chinese leaders may well respond to challenges with heightened rhetoric.
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