More than half (56 per cent) of chief economists expect the global economy to weaken in 2024, with most saying the pace of geo-economic fragmentation will accelerate, according to the latest "Chief Economists Outlook" released on Monday at the World Economic Forum (WEF). The report indicates that the global economic prospects remain subdued and uncertain. Challenges include tight financial conditions, geopolitical rifts, and the rapid development of generative artificial intelligence (AI).
India was looking at tapping new markets for import of edible oils, following the conflict between Ukraine and Russia, Union Finance Minister Nirmala Sitharaman said on Tuesday. According to her, the country was facing various hurdles on import of edible oils due to the conflict. "Everyone knows there is a war going on between Russia and Ukraine. There are various hurdles in terms of importing oils.
United States President Joe Biden will travel to India from September 7 to 10 to attend the G-20 Leaders' Summit during which he will discuss with other leaders a range of global challenges, including the Ukraine conflict, the White House announced on Tuesday.
'The Asia-Pacific region cannot and should not relapse into the confrontation and division of the Cold War era,' he said at the Asia-Pacific Economic Cooperation CEO Summit via video, Xinhua reported.
In reflection of their growing congruence in areas of defence and security, the two sides, following the Modi-Mitsotakis talks, agreed to set up an institutional dialogue at the level of national security advisors, and boost defence industrial cooperation.
A united opposition is set to corner the NDA government on issues ranging from the NEET paper leak case to railway safety.
National Aeronautics and Space Administration will soon provide advanced training to Indian astronauts, with the goal of mounting a joint effort to the International Space Station, a top American diplomat said Friday.
Indian growth in the rest of this fiscal year and next will be propelled by robust domestic consumption as consumer confidence improves, and by investment, including large increases in government capital expenditure, according to the Asian Development Outlook September 2023. "As slowing exports could foment headwinds for the economy, and erratic rainfall patterns are likely to undermine agricultural output, the growth forecast for FY2023 is revised down marginally to 6.3 per cent," ADB said.
The Gulf Cooperation Council and the Association of Southeast Asian Nations have decided to enhance cooperation in the economic, commercial, investment, educational, cultural and media fields.
Annapoorna chain of restaurants owner Srinivasan is seen purportedly highlighting concerns over varying GST rates. In the second video, Srinivasan was seen purportedly apologising in person to the Finance Minister.
Modi thanked his Australian counterpart for supporting him in unveiling the foundation stone of 'Little India', a suburb of Sydney.
Chinese Foreign Minister Qin Gang will travel to India to attend the meeting of G20 foreign ministers on March 2, during which he is expected to hold his first bilateral meeting with External Affairs Minister S Jaishankar.
The court will now decide whether to accept the report or direct the agency to continue the investigation and file a chargesheet.
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.
Prime Minister Modi will hold in-person meetings with President Putin for 8-9 hours during his nearly 24-hour stay in Russia, they said.
India and the Maldives on Friday agreed to set up a core group to further deepen their partnership as Prime Minister Narendra Modi held a 'productive' meeting with newly-elected Maldivian President Mohamed Muizzu and discussed ways to enhance the bilateral friendship across diverse sectors.
In August, the top BRICS leaders at the grouping's summit in Johannesburg approved a proposal to admit six countries, including Argentina, into the bloc with effect from January 1.
Ron Somers, founder and CEO of India First Group and the former President of leading business advocacy group US-India Business Council said that when Lok Sabha election results are declared on June 4, "I believe that Narendra Modi will win Parliament by the largest majority ever recorded in the country's history.
Prime Minister Narendra Modi and his Australian counterpart Anthony Albanese will hold extensive talks on Friday with a focus on boosting overall bilateral ties in areas of trade and investment, defence and critical minerals.
The Ministry of External Affairs (MEA) has been allocated a total of Rs 18,050 crore in the Union Budget for 2023-24 which is an increase of around 4.64 per cent over last year's allocation of Rs 17,250 crore.
So far the coronavirus, which originated in the Chinese city of Wuhan, has infected more than 54 million people around the world and killed over 1.3 million others.
The airlines' losses globally are expected to be down from $52 billion in 2021 to $9.7 billion this year and industry-wide profit should be on the horizon in 2023, Director General of IATA Willie Walsh said in Doha on Monday. International Air Transport Association (IATA) represents some 290 airlines comprising 83 per cent of global air traffic. Walsh, in his inaugural speech at the 78th annual general meeting of IATA here, said that while the outlook for airlines globally is positive, the business environment remains challenging.
The Maldives will get free 'non-lethal' military equipment and training from China's military under a newly inked agreement with Beijing, President Mohamed Muizzu has said, underlining that it would further strengthen the Indian Ocean island nation's independence and autonomy.
Emerging out of the ED grilling in Mumbai, Rohit Pawar denied any wrongdoing and asserted struggle was imminent in fight for ideology while declaring he wasn't scared.
Nirmala Sitharaman on Wednesday assumed charge as the Finance and Corporate Affairs Minister for the second consecutive term and is slated to soon present the final Budget for FY '25 that is going to set the tone for the Modi 3.0 government's priorities and direction for Viksit Bharat. Upon her reaching the North Block office, Sitharaman was greeted by Finance Secretary T V Somanathan and other top officials. Minister of State for Finance Pankaj Chaudhary was also present. Chaudhary assumed charge on Tuesday evening.
A top Republican lawmaker has welcomed India signing a trade deal with Australia, and urged the Biden administration to enter into a similar arrangement with New Delhi that can advance Washington's strong economic agenda in the strategically vital Indo-Pacific region. "I'm pleased to see #Australia & #India sign a strong trade deal," Senate Foreign Relations Committee Ranking Member Jim Risch said in a tweet. "The US needs to do the same and advance a strong economic agenda in the #IndoPacific. "The Biden Admin's failure to lead hurts US growth and our partnership in the region," Risch said in another tweet.
The case is linked to an alleged fraud of over Rs 512 crore in a Panvel-based cooperative bank.
Indian policymakers must realise that in buying small quantities of equipment, it becomes hard to start manufacturing them in India, explains Ajai Shukla.
If the concerns over risking political capital are overcome, the long-term gains for the Indian economy will be immense, asserts A K Bhattacharya.
As China's Foreign Minister Sun Weidong visited Pakistan on a mediation mission, a statement from Foreign Ministry on Monday said it is maintaining close contacts with Pakistan and Iran to 'bridge their differences'.
Rising energy demand could tilt India's energy basket towards fossil fuels from coal to oil, natural gas.
Another priority in the first 100 days could be the launch of an e-platform -- Trade Connect -- to help exporters connect with stakeholders of international trade.
Lou also spoke about China's tensions with neighbouring countries without directly mentioning the eastern Ladakh border standoff with India since May 2020 which resulted in the Galwan Valley clash in June of that year.
Prime Minister Narendra Modi will visit Abu Dhabi on July 15.
China is also ready to promote high-quality Belt and Road Initiative cooperation, and push for new progress in the future-oriented, all-round friendly and cooperative partnership between the two countries, she added.
Johnson sidelined for Aus tour of UK
One incident should not be used to generalise the health of all cooperative banks, says RBI governor Shaktikanta Das.
The external affairs minister reiterated India's position on Afghanistan and highlighted its humanitarian support to the war-torn country, including the supply of wheat, medicines, vaccines and clothing.
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.
The India-Japan global partnership is based on shared democratic values and respect for the rule of law and promotes peace and stability in the Indo-Pacific, Prime Minister Narendra Modi said on Monday after holding wide-ranging talks with his Japanese counterpart Fumio Kishida.
