UN economists announced a likely USD 50 billion drop in the worldwide manufacturing exports in February alone as the extent of the damage to the global economy caused by the novel coronavirus (COVID-19) moved further into focus. Citing the China Manufacturing Purchasing Manager's Index (PMI), Pamela Coke-Hamilton, who heads UNCTAD's Division on International Trade and Commodities, said that it had fallen to 37.5 -- a drop of about 20 points -- the lowest reading since 2004. "This also correlates directly to exports and also implies a two per cent drop in overall exports," she said, with a resulting "ripple effect" worldwide "to the tune of a USD 50 billion fall in exports."
Not just from the likes of Alibaba and Didi Chuxing, Indian startups saw a surge in Chinese funding from financial investors in 2019. This is a seven-fold jump from $459 million in 2016.
'The Indian Army is fully prepared for a long and permanent deployment if the PLA does not retreat.'
The world economy's growth engine is slowing, but not collapsing.
'The Fire and Fury Corps is the only formation of the Indian Army and also in the world to have actually deployed mechanised forces in such harsh terrain. The maintenance of the tanks, infantry combat vehicles and heavy guns is a challenge in this terrain. To ensure crew and equipment readiness, adequate arrangements are in place for both man and machine'
The upcoming general elections will be the focus and the economy and market performance will pivot around that event. The general consensus is that the India stock market should be up around 10 per cent by the end of the year.
'Vajpayee used to consult the Opposition; Indira Gandhi used to consult the Opposition. Which khet ki mooli is Modi?'
The year 2015 may well turn out to be a watershed in global macroeconomic adjustment.
In his address at a ministerial meeting of the SCO in Moscow in the Russian capital, Singh also referred to the Second World War and said its memories teach the globe the 'follies of aggression' of one state upon another that brings 'destruction' to all.
The current fleet of BMP-2/2Ks was first inducted into the Army in 1985 and it has been the mainstay of the mechanised infantry since then.
India's national security strategy needs to be revised periodically since the global and regional geopolitical situation is dynamic, points out Commodore Venugopal Menon (retd).
'We are only amplifying the voice of scientists and experts. We are gathering information by talking to experts and are sharing it. If the government chooses to ignore that, what can we do?'
'We are at $2.7 trillion and 2024 is not far away.' 'The country will need to grow by 9% every year for 5 years continuously and raise the aggregate investment rate to 38% of GDP to achieve the government's target of turning India into a $5 trillion economy.' 'Given the fact that we are only growing at about 5% and our investment rates are only about 30%, it may take a number of years before we can reach that targeted level.'
He said countries should work for promoting open and inclusive cooperation for win-win outcomes.
Technology has and will continue to fundamentally reshape the world, says World Bank president Jim Kim.
'If the government says that the Balakot airstrike was effective and terrorists were killed then they should have shown some proofs'
Indians want change and progress. They should be willing to accept tough decisions, says Sanjeev Nayyar.
India has a history of jugaad, and retrofitting vehicles is one such manifestation of the legendary Indian skill. Not so long ago autorickshaws and small Marutis used to strap on subsidised LPG cylinders and power themselves to a cheap ride. There were the odd explosions, lives were lost, but the jugaad continued. Then compressed natural gas (CNG) was introduced in Delhi following a court order. Initially, customised CNG kits were fitted to conventional (internal combustion engine or ICE) autos cheaply, enabling commuting at less than half of what you would cough up for diesel. The industry is better organised now with Suzuki and Hyundai designing CNG-fired vehicles, and Mahindra and TVS manufacturing liquefied petroleum gas (LPG)-powered three wheelers.
'Once the lockdown is lifted, we will need the mother of all fiscal and monetary policy support to sustain the economy,' advises Akash Prakash.
Indian elections are won and lost on 'negative' imageries and campaigns - but not certainly on 'negativity' as a political trait and electoral creed, asserts N Sathiya Moorthy.
The agreement is subject to approval by the IMF management and consideration by its executive board, which is expected in early April.
He cited demonetisation, 'wrong' GST and the lockdown as three examples of government's attempt to destroy the informal sector, that provides 90 per cent jobs to people.
World Bank lowered its global economic growth outlook for 2016 to 2.9% from 3.3% earlier.
'I am not minimising either the seriousness or the complex nature of the current situation.' 'Naturally, we have to do what it takes to secure our borders.' 'We are talking to the Chinese, both through military channels and diplomatic ones.'
'In fact, they work in tandem.' 'When it comes to finding a solution, this must be predicated on honouring all agreements and understandings.' 'And not attempting to alter the status quo unilaterally.'
At a virtual media briefing, Ministry of External Affairs (MEA) Spokesperson Anurag Srivastava said disengagement of troops is a complex process which would require mutually agreed 'reciprocal actions'.
A'Market valuation is another concern.'
'India is trading at steep valuations and there have been a number of IPOs, especially in the insurance sector, that have had an impact on secondary market liquidity.'
What might be useful is targeted assistance to those sectors and individuals that are disproportionately affected, suggests Mihir S Sharma.
Noting that India continued to be the second fastest growing economy in the world after China, Finance Minister P Chidambaram on Saturday said people should not be worried about the current slow down and expressed hope of achieving six per cent growth this fiscal.
'The government has stopped our earnings due to the lockdown and must do something for our earnings to restart.'
Instead of making the sellers bleed, experts say, e-commerce giants Amazon and Flipkart have roped in banks to offer discounts to buyers.
Accommodative monetary policy has driven a bull market in stocks in recent years, but the Bank of England is expected to raise interest rates early next year and the U.S. Federal Reserve not long after, tempering future gains.
Larsen & Toubro (L&T), India's largest construction and engineering player, has lost as many as 14 large orders in the country because companies that don't possess adequate technical expertise and experience, of late, have won the projects by bidding lower, claimed A M Naik, non-executive chairman of L&T. But the company has made up for the losses by winning projects overseas, where it has acquired a sizeable market share amid tough competition from large global players, he said.
It became increasingly clear that the real negotiations the government had to conduct were with Indian business which was wary of yet another free trade agreement, points out T N Ninan.
The members resolved to foster a global economic governance architecture that is more effective and reflective of current global economic landscape
He also sought to know if Modi, during his recent meeting with Chinese President Xi Jinping, asked the latter about the 2017 Doklam standoff.
'The macro-economic stresses -- high interest rates, rupee depreciation and capital flows -- have receded now.' 'Interest rates have come down, inflation is down and the rupee has bounced back.' 'If oil prices continue at this level, there will be no vulnerability.' 'Growth is a different story.'
'It is high time that we act instead of just talking about how and why the climate is changing.'
Markets could slide again owing to conditions in Europe and the US.
'This encourages escapism through the politics and economics of nationalism, made worse by tribalism or nativism, the package accompanied inevitably by the erosion of institutional bulwarks and therefore State capture by powerful businessmen,' notes T N Ninan.
Gandhi was referring to prime minister's 'silence' on Rafale fighter aircraft deal with France and the Modi government's 'failure' to bring fugitive businessman Vijay Mallya to book.
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