India has been relatively insulated from the severe headwinds in the West. However, with a third of the global economy expected to slip into recession in calendar year 2023, the impact will strongly be felt on India's exports and trade economy, leading economists said in a panel discussion at the Business Standard BFSI Insight Summit in Mumbai on Wednesday. The panel comprised former Reserve Bank of India executive director and former Monetary Policy Committee member Mridul Saggar, State Bank of India Chief Economic Advisor Soumya Kanti Ghosh, Citibank India Chief Economist Samiran Chakraborty, ICRA Chief Economist Aditi Nayar, and IndusInd Bank Chief Economist Gaurav Kapoor. The topic of the panel discussion was No recession in sight: Is India decoupled from developed economies?
Climate and sustainable development financing, multilateral institution reforms, regulation of digital assets, the spillover effect on developing economies from actions of western central banks, energy and food security in the backdrop of war in Europe, and sanctions on Russia and their impact on the global economy are some of the agenda items that India will take up as President of G-20, Finance Minister Nirmala Sitharaman said on Tuesday. India will take over as President of the powerful international grouping on December 1 for a year. There will be around 200 meetings throughout the country, with the summit Heads of State meeting expected to be held in New Delhi next September.
'I was not scared because I knew I had not done anything wrong. And I was walking for a good cause.'
Modi, who met Putin last week on the sidelines of the 22nd meeting of the Shanghai Cooperation Organization in Uzbekistan's Samarkand, had told the Russian leader that "today's era is not of war".
India and Italy inked 15 pacts and finalised an ambitious action plan to further expand their ties following a virtual summit between Prime Minister Narendra Modi and his Italian counterpart Giuseppe Conte that primarily focused on ramping up economic engagement.
'Who put the fear of god into Imran Khan and how it happened we do not know, but the great cricketer panicked and called Mahathir to regret that he cannot attend the KL Summit,' notes Ambassador M K Bhadrakumar.
'The big power struggle in faraway Europe erupted at a most critical juncture when India has been increasingly sceptical about American policies and statesmanship,' argues Ambassador M K Bhadrakumar.
Ten-time Everest summiteer Tendi Sherpa tells Rediff.com contributor Anusha Subramanian why he cancelled his international climbing assignments to be with his community in the worst affected districts of earthquake hit Nepal.
Organisers warn participants against eating out over COVID-19 risks.
The virtual meeting comes in the midst of some disquiet in Washington over India's position on the Ukraine crisis as well as its decision to procure discounted Russian oil.
External affairs minister S Jaishankar on Tuesday discussed issues relating to Afghanistan and the Indo-Pacific during his bilateral meetings with global counterparts on the sidelines of the annual high-level UN General Assembly session.
The study paper by Melbourne-based think-tank Australia India Institute titled 'The G20: Challenges and opportunities Ahead', said following Prime Minister Narendra Modi's visit to the US and his talks with US President Barack Obama, India may finally sign the agreement.
"India has become the fastest growing major economy in the world. Despite the global slowdown, we have registered excellent growth. Today, India is a bright spot in the global economy. We are seen as the engine of global growth," he said.
Modi will have a number of high-profile multilateral and bilateral meetings with global leaders including United States Vice President Mike Pence and Singapore premier Lee Hsein Loong.
He said the Fourth Industrial Revolution will have more importance than the capital.
Prime Minister Narendra Modi on Wednesday called for focus on 'repair and prepare' as the nation emerges out of a devastating pandemic. "Over the past year, we have witnessed a lot of disruption in different sectors. Much of it is still there. Yet, disruption does not have to mean despair," he said at VivaTech Summit. "Instead, we must keep the focus on the twin foundations of repair and prepare," he said referring to the need to augment healthcare infrastructure in the country as well as prop up the economy.
India believes no country would emerge victorious in the Russia-Ukraine war as all will suffer losses and there will be a "more serious" impact on developing and poor countries, Prime Minister Narendra Modi said on Monday after holding talks with German Chancellor Olaf Scholz as both leaders reiterated the need for an immediate cessation of hostilities.
A summary of sports events and persons who made news on Wednesday
After Pyongyang tests a missile potentially capable of reaching the US, Dr Rajaram Panda explores the realistic -- and peaceful -- options before Donald Trump and the international community at large.
The US agreed to India's proposal on food security issues at WTO on Thursday.
In his address at the Plenary session of the 18th SCO summit in Qingdao, Modi coined an acronym 'SECURE' which he explained: 'S' for security for citizens, 'E' for economic development, 'C' for connectivity in the region, 'U' for unity, 'R' for respect of sovereignty and integrity, 'E' for environment protection.
'Our technology is going to help Indian agriculture the way the White Revolution helped milk production.'
India and the US are engaged in Geneva, the WTO headquarters, to sort out the food stockpiling issue and end the stalemate.
The G20 chair has suggested three areas for the talks in Argentina - the future of work, infrastructure for development and a sustainable food future, areas where India has a lot at stake.
The message for 2024 is that the man on the street is not going to be euphoric if the G-20 crowns Modi as king-emperor for 2023, or if India sends its first man to space just ahead of the Lok Sabha polls. Even a 'temple consecration' in Ayodhya, or a Uniform Civil Code, or both of them together, may not have enough electoral purchase if fuel and commodity prices are not rolled back, and money-in-the-pocket does not fatten, points out N Sathiya Moorthy.
'The world wants India to succeed. It also worries now that India over-promises and under-delivers,' says Shekhar Gupta.
Ahead of the G-20 summit in Osaka this week, Xi has reasserted China's role as a global player, points out Dr Rajaram Panda.
The jury is still out on whether the Obama-Sharif summit managed to repair the trust deficit and mutual suspicions. But if pleasantries and cordiality was the measure of this summit, it receives a resounding A+ grade, says Aziz Haniffa
'Given this dissonance between India's age-old multicultural tenets and the anti-minority temper of the present times, it cannot be easy for the BJP to maintain its balancing act to convince the world that all is well,' observes Amulya Ganguli.
The meeting with Xi is being held amid the ongoing trade war between the United States and China.
Maharashtra could become the gateway for the rest of the country.
Ankit Kawatra's Feeding India has already fed more than 1 million people.
At $2.6 trillion, the Indian economy is currently ranked sixth in the world behind the US, China, Japan, Germany and the UK.
'For all of us at Amazon, it is 'Bharat first'.' 'We are keeping the Indian customer at the centre of what we are doing.'
Ankit Kawatra will be honoured by Queen Elizabeth II at Buckingham Palace on June 29.
It takes 8 hours on a plane from Plymouth, United Kingdom to New York. But 16-year-old Greta Thunberg took 15 days to reach the Big Apple as she hitched a ride on a zero-emissions yacht, making the entire trip without leaving a carbon footprint.
The youth have to turn into entrepreneurs if India's massive demographic dividend is to be taken advantage of: Smriti Irani.
Dr Singh said that there was a need to re-look at the balance of power in the international financial systems. He said that this has been necessitated by the fact that bulks of the world's savings originate in Asia today and western institutions act only as intermediaries. This is a new power that the countries of Asia have acquired collectively, he said, and need to be given their due. The prime minister said: "The world system is not a morality play; it is a power game."
India will go beyond being a services hub to become the food factory of the world, and the industry must come together on this front.
The Group of Fifteen (G-15) developing countries, including India, have called for effective supervision of major financial centres and institutions to prevent repeat of recent global economic crisis which they said had adversely impacted the developing nations.
