The IMF lowered India's economic growth estimate for the current fiscal to 4.8 per cent and listed the country's much lower-than-expected GDP numbers as the single biggest drag on its global growth forecast for two years.
Minister for Communications, IT and Divestment Arun Shourie would lead a delegation to the World Economic Forum to be held in Davos (Switzerland) during January 20-25.
44% citizens of the world agree that the eradication of poverty and hunger is the most important priority for the world, says the Voice of the People survey, carried out for the WEF, by Gallup.
The 56 Indian businesses surveyed in 2004-05 expressed some concern over the impact of HIV/AIDS. Of these, 46 per cent report some current effect of the virus on their company, with 14 per cent reporting 'serious effects.'
The Dubai Model is now revealed to be a mirage and one hopes that India's leaders would have drawn the appropriate lessons from it, says Mohan Guruswamy.
"We plan to hire 2,000 people in the next four-five months or by the end of this fiscal. Currently we are 16,000 people in India."
Indian companies Reliance and Infosys, both active players in the Chinese market, are among the global industry majors who have partnered with the World Economic Forum to organise the 'China Business Summit 2005' in Beijing.
Apparel company Murjani Group is leading the charge, bringing Western labels such as Tommy Hilfiger and Calvin Klein to Indian shoppers.
Citigroup Inc, the largest US bank, has asked India to liberalise its financial services sector, saying it would help the country maintain and improve over eight per cent GDP growth.
There is a significant shift happening towards emerging economies as they start to integrate more rapidly into the global trading system
'The startup ecosystem, the government, and the owners of large pools of Indian capital need to actively support the creation of these local champions, not pull down the teams that are trying hard to get there.'
Singapore is the world's most successful economy in exploiting ICT developments; US fifth, China 41st.
The 'R' word is everywhere. It's being discussed at World Economic Forum at Davos and now we have clients calling in at Orpheus, asking us about "recession" and how bad it is. And, is there a chance that the global depression might be starting? Such worries, though, important and critical, do highlight the mass psychology and how it reads the Federal interest rate cut and subprime crisis as a start of something bigger and problematic.
"The recent talk about a new cold war is hyperbolic nonsense. Our relations today are fundamentally different (with Russia) than they were when all we shared was the desire to avoid mutual annihilation," she said, speaking at the World Economic Forum in Davos on Wednesday.
Maharashtra Chief Minister Eknath Shinde on Wednesday said Memorandums of Understanding worth Rs 1.37 lakh crore have been signed at the World Economic Forum (WEF) annual meeting in Davos in Switzerland and termed it as a "big achievement". This will generate employment for one lakh people, said Shinde, who was in Davos to seek investments in Maharashtra. "The MoUs will not remain just on paper," he said, adding that foreign investors have shown trust and faith in the state government.
While the national population explosion places nearly intolerable strains on India's physical and social infrastructure, the country's democracy is so dysfunctional that it is reasonable to ask whether it can rise to the looming economic and demographic challenges.
The issue at hand is not ASEAN versus Chindia, but ASEAN plus Chindia. Given the strengths of ASEAN and the growing muscle of India and China, the scope for constructive cooperation is immense, he said.
"The notion that companies in Asia are winning market share only on cost is obsolete," said meeting co-chair Nandan M Nilekani, president, chief executive officer and managing director, Infosys Technologies, India.
The USTR report, released just ahead of the US' April 2 deadline for implementing reciprocal tariffs, has also cited high tariffs and price caps, which have not increased in line with inflation, as key obstacles for US businesses.
India on Saturday pulled off a big diplomatic win after the G20 summit held under its presidency adopted a consensus declaration overcoming major differences on the Russia-Ukraine war, as Prime Minister Narendra Modi called for ending the "global trust deficit".
Eminent Indian-American attorney from New York Ravi Batra has termed it a "dead on arrival lawsuit".
He was quoted by the BBC as saying that the process should continue.
Trump's sweeping tariffs and penalties on China-built ships have turned global shipping into the front line of economic war, observes Shyam G Menon.
It is part of the Indian cultural mentality to be innovative and entrepreneurial. India, in ten years, will be a significant economic power, says Vanu Bose.
