The richest one per cent in India now own more than 40 per cent of the country's total wealth, while the bottom half of the population together share just 3 per cent of wealth, a new study showed on Monday. Releasing the India supplement of its annual inequality report on the first day of the World Economic Forum Annual Meeting in Davos, rights group Oxfam International said that taxing India's ten-richest at 5 per cent can fetch entire money to bring children back to school. "A one-off tax on unrealized gains from 2017-2021 on just one billionaire, Gautam Adani, could have raised Rs 1.79 lakh crore, enough to employ more than five million Indian primary school teachers for a year," it added.
India's upcoming presidency of the G20 grouping is a matter of pride and a great opportunity for the country in its 75th year of Independence, Prime Minister Narendra Modi said on Tuesday. Modi made the remarks after unveiling the logo, theme and website of India's G20 presidency during an online event. India will assume the presidency of the powerful grouping from the current chair Indonesia on December 1.
Prime Minister Narendra Modi on Tuesday said India will become the growth engine for the world in the coming years, and the ease of doing business has improved with "mission-mode" reforms being undertaken by his government. Speaking at the BRICS Business Forum Leaders' Dialogue in Johannesburg, Modi also said India soon will become a $5 trillion economy.
Releasing its annual Global Risks 2014 report, Geneva-based WEF said that the income disparity was the most likely risk to cause an impact on a global scale in the next decade, while other significant risks include extreme weather events, unemployment and fiscal crises.
More than 70 per cent of Indian youth aged between 15 and 29 can't!
The countries with positive employment outlook included India, Mexico and Turkey, as also the Gulf Cooperation Council region.
At a media briefing, French President Emmanuel Macron said the G20 leaders' declaration "confirms" Russia's isolation for its attack on Ukraine and that the bloc is committed to "just and lasting" peace in the war-torn country.
Throughout 2022, China turned to the PLA as an increasingly capable instrument of Statecraft, strengthening its ability to 'fight and win wars' against a 'strong enemy', points out Ajai Shukla.
Fortune's third annual 'World's 50 Greatest Leaders' list features men and women from across the globe from the fields of business, government, philanthropy and the arts who are "transforming the world and inspiring others to do the same."
In his opening remarks at the G20 Leaders' Summit at the Bharat Mandapam in New Delhi, Modi said the 21st century is a time of giving new direction to the world.
According to leaders of these economies who were speaking at a session at the 44th World Economic Forum Annual Meeting in Davos, the BRICS economies would rebound over the next few years, despite having been hit to varying degrees by fallout from the global financial crisis.
We may now be experiencing the darker side of the massive monetary stimulus of past years, said Rajan.
'We will likely never know why Xi decided not to travel to New Delhi. One possible explanation could be his desire to avoid a meeting with US President Joe Biden.'
Emphasising the importance of sustaining food and energy security, the G20 leaders called for the "cessation of military destruction or other attacks on relevant infrastructure".
India is among the worst-ranked countries when it comes to taxation and inflation burden on economy, as also in terms of the negative impact of crime, terrorism and health hazards on business environment, a WEF report said.
Neri Oxman is an award winning architect who combines technology with botany and life.
It includes a session with Gadkari on analysing the initiatives needed to bridge the $1 trillion infrastructure deficit in the country.
Pune-based Serum Institute of India (SII) is sitting on 200 million doses of Covishield that were manufactured in December and are set to expire in September. The company is likely to destroy these vaccines if nothing works out, Sohini Das reports.
ICICI Bank chief Chanda Kochhar believes, India can grow if decisions on investment policy are taken quickly.
'China seems more intent on creating a new world order rather than shaping the existing one.' 'India is of course, at this moment in time, aligned with the West-led order because of China's full-spectrum aggressive behaviour towards India.'
"Our position has been clear and consistent on Kashmir... It is a bilateral issue between India and Pakistan," the MEA said. The US President had repeated his offer to 'help' resolve the issue on Tuesday.
It will take a female domestic worker 22,277 years to earn a top CEO of a tech company makes in one year.
'What's sad today is that there are so many people who cannot find work, not because the country is devoid of that opportunity, but because we are not doing enough in the country.'
The country, last year, stood at the 27th spot for effective regulation and supervision of securities exchanges.
Releasing a report titled 'Profiting from Pain' in Davos, the rights group further said as the cost of essential goods rises faster than it has in decades, billionaires in the food and energy sectors are increasing their fortunes by $1 billion every two days.
'The history of Moody's India ratings tells its own story,' points out T N Ninan.
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A team from Serbia had participated in the Vibrant Gujarat Summit in 2013, and that country is participating in this year's summit as well.
India is ranked lower than all its BRICS peers -- Russia, China, Brazil and South Africa
The chaos on its stock markets, a fierce battle between the old and new guard in the Communist Party and the restive border provinces of Tibet and Xinjiang forebode tough times ahead for China, says Claude Arpi.
If it continues to do well economically, develops a large manufacturing sector, gains in technological heft, builds a more capable defence industry, improves its human development indicators, becomes more of a trading nation, and has greater internal cohesion. In short, it is a work in progress, suggests T N Ninan.
Wealth of the richest 62 people has risen 44% in the five years since 2010, while that of the bottom half fell by 41%
'I think some of us, like Mukesh Ambani, myself and those of us who head industrial units, ought to really focus on what we can really do to make the world a safer place, maybe 50 or 100 years from now.' 'For instance, how can we deal with climate change and global warming, right now?' 'The effects of it may not be felt now; in fact, we may pay a price for it today, but it will help the generations to follow.'
Two of Xi Jinping's chosen officials have disappeared from view, an indication of turmoil in Xi's government, months after he installed a collection of loyalist leaders in his cabinet, observes Dr Rajaram Panda.
India will soon make available many more COVID-19 vaccines to other countries after two Made-In-India jabs have already been introduced to the world, Prime Minister Narendra Modi said on Thursday while emphasising the country's global responsibility in fighting the pandemic.
Cognizant jumps 13 ranks to become 4th most valued.
The kind of jobs that will last in future are creative, people-led and social. These are the jobs that automation can't take away.
It is for China to decide what role it plays at the G20 summit in New Delhi, a top US official has said, asserting that if Beijing wants to come in and be a "spoiler", that option is available to it.
Increasingly isolated on the global stage, the World Cup has so far helped Vladimir Putin send a defiant message to his opponents that Russia is succeeding despite Western efforts to hold it back.
Stronger the pitch of various states, the better for India as a country. The two states plan to showcase their improved 'ease of doing business rankings'.
Is it a boon or a curse?
