Speaking at a joint press event with Macron, Modi, who is in Paris on a two-day official visit, said a roadmap to strengthen India-France strategic ties over the next 25 years was being prepared with bold and ambitious goals on the anvil.
Subdued demand from developed countries and blocs like the US and EU is impacting exports of key sectors including engineering, gems and jewellery and may have implications on India's exports in case the global situation does not improve in coming months. Global inflation, Russia-Ukraine war, simmering China-Taiwan crisis and supply disruptions are hurting economic growth worldwide, leading to poor demand, experts say. The world merchandise trade volume is expected to grow 3 per cent in 2022 against the earlier forecast of 4.7 per cent, mainly due to the ongoing war between Russia and Ukraine, according to the World Trade Organization forecast, released in April.
Russia on Monday accused the US of "actively" exploiting the "contradictions" between India and China to its advantage and asserted Moscow and New Delhi accumulated mutual trust and confidence based on decades-old ties that would help the two sides to deal with the current geopolitical turbulence.
While Narendra Modi spent fewer days abroad than his predecessor -- 275 days versus Dr Singh's 306 - he has travelled more widely than any other Indian PM.
Since October, FPIs have sold over $26 billion worth of stocks, which is the largest selling ever seen in India, observes Akash Prakash.
The India growth story is still intact, and fall in the Indian stock markets is an imported one and if the government succeeds in legislating the GST and Land Bill, India could yet emerge as a winner believe stock market experts
The ballooning of crude prices has significantly increased the country's oil import bill and it can also lead to a worsening of the current account deficit and fiscal deficit for the domestic economy.
India is now much ahead of other large railway networks in the world in terms of electrification -- with the US at just 1 per cent, China at 72 per cent and Europe at 60 per cent.
'There is a view that there is a Pakistan angle to this.' 'Pakistan has a large presence in Qatar and would want India to be blacklisted.'
On his recent visit to China, the President made eminently sensible suggestions to improve relations except that they can't work in the present atmosphere.
'It will be important strategically and geographically because there is no port in India which is as close to the international shipping route as Vizhinjam.'
The visit will provide thrust to expand bilateral cooperation
India may see a structural shift in supplies of crude oil with Russia emerging as a key source of fuels, a development that reduces New Delhi's dependence on West Asian oil, gives Indian refiners better bargaining power with price-setter Saudi Arabia, and improves overall energy security. The unexpected surge in supplies of Russian crude in the last few months, unthinkable until the war in Ukraine, may also deliver other unforeseen gains such as boosting exports of refined fuels to Europe, which historically has counted on Russian shipments. India has jumped on to the bandwagon of opportunistic buying of Russian crude but if calibrated carefully, Urals crude can be a long-term asset for India refiners.
The largest component in computing CAD is trade deficit. India's trade deficit widened to $13.35 billion in October as exports contracted 5.04 per cent and gold imports surged
Only the future will tell if Modi can leave his mark on the Ukraine crisis. Nonetheless, it is both a challenge and an opportunity for India's diplomacy, notes Rup Narayan Das.
India's low passion, very cautious, relationship with Iran of the last 36 years awaits transformation, says Lieutenant General Syed Ata Hasnain (retd). Prime Minister Modi's visit cannot be a negotiating event; it is a symbolic one to strengthen the politico-diplomatic relationship.
China has cast a long shadow on India's economy.
'The coronavirus impact is much bigger than what the market had predicted. We are helpless and simply watching the market at present. Nothing can be done,' said Anil Devli, chief executive officer (CEO) of Indian National Shipowners' Association (INSA).
India and Japan on Friday sought a peaceful solution to the territorial disputes in the strategic South China Sea, saying parties involved in the matter must not resort to "threat or use of force", in remarks that could anger China which is opposed to any outside interference.
The memorandum of understanding on mutual logistics support is the first such major agreement that Vietnam has signed with any country.
Moody's on Thursday slashed India's growth estimate for the current year to 9.1 per cent, from 9.5 per cent earlier, saying high fuel and fertilizer import bill could limit the government's capital expenditure. In its 'Global Macro Outlook 2022-23 (March 2022 Update): Economic Growth will suffer as fallout from Russia's invasion of Ukraine builds' report, the rating agency said Russia's invasion of Ukraine has significantly altered the global economic backdrop through three main channels -- spike in commodities prices, risks to global economy from financial and business disruption and dent in sentiment due to heightened geopolitical risks. It said Russia is the only G-20 economy that will contract this year and forecast that its economy will shrink 7 per cent in 2022, and 3 per cent in 2023, down from projected growth of 2 per cent and 1.5 per cent respectively, before the invasion of Ukraine.
Diesel price on Friday was hiked by 20 paise per litre - the first increase in rates in over two months - as international oil prices neared their highest since 2018. Price of diesel was hiked to Rs 88.82 per litre in Delhi and to Rs 96.41 in Mumbai, according to a price notification of state-owned fuel retailers. Petrol price was not changed. It costs Rs 101.19 a litre in Delhi and Rs 107.26 in Mumbai.
India will become the third-biggest economy in the world by 2030, Deputy Chairman of the Planning Commission Montek Singh Ahluwalia said.
Consequences of China's efforts to stabilise its equity markets after three weeks of declines, which wiped out some 30 per cent of the value is far more importance to the world, says Clyde Russell.
The country may propose pipeline via China when Putin visits this year.
The 182-metre 'Statue of Unity', being built at Sadhu Bet in Narmada district, is slated to be inaugurated by Modi on Patel's birth anniversary on October 31.
Srikanth Kondapalli on what to expect from the seventh BRICS summit meeting to be held in Russia in July.
'Had a very fruitful meeting with Iranian defence minister Brigadier General Amir Hatami in Tehran. We discussed regional security issues including Afghanistan and the issues of bilateral cooperation,' Singh said in a tweet.
Economic recovery from the pandemic in the US has helped India achieve the $400-billion mark for exports for the first time in any fiscal year. According to the preliminary data compiled by the Department of Commerce, India exported goods worth $73 billion to the US from April 1 to March 21 - up 47 per cent, compared to last year. The US' share of exports, compared to total exports, stood at 18.2 per cent. The country is also India's largest trading partner and export destination.
'... as has been happening in the last three weeks, then the foreign exchange reserves will not be comfortable to ensure that the rupee does not fall drastically.'
America's decision to give India exemption from imposition of certain sanctions for the development of the port is driven by the South Asian strategy, which was announced by President Donald Trump in August.
The partial withdrawal would mean that Iran would stop exporting enriched uranium stocks as stipulated by the 2015 agreement.
Sharp fall in capital goods production and manufacturing activity also dented sentiments.
The dreary, cold months from December to February may prove to be the undoing of many a nation as they grapple with sky-high fuel prices - a result of the Ukraine conflict and the pandemic. Many - Europe, South Korea, Japan, and China - will still pull through on the strength of their wealth or because of strong storage infrastructure. But India will have its back to the wall. Signs of liquefied natural gas (LNG) rates hitting new records this winter are already evident.
Without naming India, S&P said it expects that in regions where inflation already exceeds targets, or which are vulnerable to capital flight, central banks will be forced to raise interest rates.
'Geopolitical risks and their impact on oil prices, if any, are another concern for global markets, particularly for India.'
Modi said both India and China need to be "sensitive" to each other's strategic interests and called for specific actions to "prevent growth of negative perception".
'In India, China's capacities to conduct new types of warfare is critically underestimated,' says Claude Arpi.
With no major domestic market moving triggers this week, equities would continue to look at global factors, foreign fund movement and trend in the rupee for further direction, analysts said. "This week we have the August month F&O expiry where bulls are looking for rest after a gain in the August series," said Santosh Meena, head of research, Swastika Investmart Ltd. "There are not a lot of triggers but global cues, August month F&O expiry, and FIIs' behaviour will be important factors in the direction of the market," he noted.
