What appeared to be a generous act of friendship was, in truth, a manoeuvre within a much larger strategic game. The United States used the 1962 war not just to aid India but to test how far it could be pulled into the Western fold, points out Dr Kumar.
In all, worldwide remittances -- including those to high-income countries -- will reach $406 billion in the current calendar year.
Amid US-China trade tensions and economic vulnerabilities, India must seize the 'China +1' opportunity, deepen reforms, secure FTAs, and globalise its firms for long-term growth, suggests Ajay Shah.
India attracted a major chunk of the record $40.1 billion capital that flowed into South Asia in 2006, but restrictive policies could stunt investment growth leading to slower economic expansion, the World Bank warned in a report.
Global warming can cause extreme floods and droughts and can mean snowfall is replaced by rain, with higher evaporation rates.
A feature of this year's BRICS summit was economic cooperation.
The government on Wednesday withdrew the order mandating pre-installation of cyber security app Sanchar Saathi on smartphones by manufacturers.
Emerging markets facing 5th year of slow growth: World Bank.
Elaborating on the reasons behind the expected slowdown in the country's economic growth, the multilateral lending agency said it 'stems from a moderation in domestic demand, as elevated inflationary pressures have cut into disposable incomes and household spending'.
The two countries will also account for almost half the global manufacturing investment.
India's economy is estimated to contract by 9.6 per cent in the fiscal year 2020-21, reflecting a sharp drop in household spending and private investment, and the growth is expected to recover to 5.4 per cent in 2021, the World Bank said on Tuesday. In its Global Economic Prospects report, the World Bank said that the informal sector, which accounts for four-fifths of employment, has been subject to severe income losses during the COVID-19 pandemic.
As a result, the global investment in developed countries will triple in the next two decades.
Subramanian recommended five ways of financing additional expenditure over a period of one year, including cutting expenditure and borrowing directly from the RBI or monetising debt.
The reduction in goods & services tax (GST) on individual life and health insurance premiums has been called a "landmark step" for making insurance affordable and inclusive. In a panel discussion at the Business Standard BFSI Insight Summit 2025, Anup Bagchi, managing director (MD) & chief executive officer (CEO) of ICICI Prudential Life Insurance; Mahesh Balasubramanian, MD & CEO of Kotak Life Insurance; Tarun Chugh, MD & CEO of Bajaj Life Insurance; and Ratnakar Patnaik, MD of Life Insurance Corporation of India (LIC), listed what else the industry needs to reach more people.
The World Bank has approved a $1.5 billion loan for the ambitious clean India campaign.
The danger today, he said, is no longer, fortunately, one of a collapsing world economy. The danger today is one of complacency.
The slowdown in global remittance flows that became evident in the last quarter of 2008 has continued in the first half of 2009. However, South Asian countries like India, Pakistan and Bangladesh have continued to post strong growth till now because of remittances from the Gulf region.
Prime Minister Narendra Modi asserted his commitment to eradicating Maoist terror from India, criticizing the previous Congress regime for allegedly supporting 'urban Naxals' and ignoring the violence they perpetrated. He highlighted the significant reduction in Maoist-affected districts and the surrender of numerous Naxalites as evidence of his government's success in combating the issue.
Even by conservative assumptions that 5 to 10 per cent of infected individuals develop long Covid, India today may be home to 50 to 100 million infected individuals -- many silently coping with breathlessness, fatigue, palpitations, brain fog, or unexplained clotting tendencies.
Jim Yong Kim, president of the International Bank for Reconstruction and Development concluded his three-day visit to India on Wednesday.
East Asia's emerging economies are projected to grow by 6 per cent this year as policy makers face the delicate challenge of responding to a reduced pace of global trade expansion, the World Bank said on Wednesday.
Like with all great crashes, some had noticed the cracks. "... cash balances (of banks) seem, from the available indications, to be hopelessly inadequate; and it is hard to doubt that in the next bad times they will go down like ninepins. If such a catastrophe occurs, the damage inflicted on India will be far greater than the direct loss falling on the depositors," said John Maynard Keynes in his May 1913 work "Indian Currency and Finance", written before his path-breaking work in macroeconomics laid the foundation of dealing with global crises.
Goldman Sachs is bullish about Indian aerospace and defence, preferring private companies over public sector units (PSUs) as the country ramps up its export target for the sector to Rs 50,000 crore by FY29 from Rs 23,600 crore last year. The American investment bank's top 'buy' recommendations include Solar Industries, Bharat Electronics, Data Patterns and PTC Industries, while Bharat Dynamics is rated 'sell'.
India's gross domestic product (GDP) can grow at seven per cent or more, provided the process of reforms is expedited, the World Bank has said.
The revised projection comes after a 17% rise in the April-June.
Dr Kali P Choudhury, a visionary entrepreneur immigrated to the United States with almost nothing and built his estate in Hemet before turning his focus to Inglewood.
In India, economic activity slowed substantially in 2019, with the deceleration most pronounced in the manufacturing and agriculture sectors, whereas government-related services sub-sectors received significant support from public spending, the Bank said.
With this India will continue to retain the position of being the fastest growing emerging economy. And by 2021, its growth rate is projected to be 1.5 per cent more than China's 6 per cent.
World Bank President Robert Zoellick on Friday said India is likely to return to high growth of 8 to 9 per cent in a year or two, helped by strong fiscal and monetary actions to counter the global financial crisis.
India will need to grow at an average 7.8 per cent to become a high-income country by 2047, a World Bank report said on Friday. To achieve this goal India would require reforms in financial sector as well as in land and labour market, the World Bank said in its India Country Memorandum titled 'Becoming a High-Income Economy in a generation'.
India is on track to register its entire 1.25 billion population using its Aadhaar digital ID.
The government should use interest rates for more than administrative measures to handle economic growth in the long term.
Disparities in productivity levels across firms within manufacturing sectors is wider in India than in China, Mexico, Russia and Korea, said Mark Dutz, World Bank Senior Economist and editor of the report -- Unleashing India's Innovation.
India will catch up with China's growth at 7 per cent during 2016-17, the World Bank has forecast, saying India's economy has recovered in the wake of the economic reform measures taken by the new Indian government, falling oil prices and lower interest rates.
Onno Ruhl said it is imperative to have a favourable global environment in addition to the domestic advantages.
'When global politics has some intervention on the core software one uses, and if you are cut off from your own data in critical workflows, sovereignty is no longer optional. It becomes a necessity.'
The World Bank on Thursday forecast a 6.7 per cent growth rate for India by next fiscal as exports and private investment are projected to strengthen and provide a boost to growth.
'We kept importing educational models from outside that had no connection to our cultural and intellectual strengths.'
Arvind Subramanian was appointed CEA in October 2014 and got a year's extension in September 2017
