Manufacturing activities in India advanced further and touched a 31-month high in May supported by stronger increase in new orders and favourable market conditions, which in turn generated more employment opportunities, a monthly survey said on Thursday. The seasonally adjusted S&P Global India Manufacturing Purchasing Managers' Index (PMI) rose from 57.2 in April to 58.7 in May, indicating the strongest improvement in the health of the sector since October 2020. The May PMI data pointed to an improvement in overall operating conditions for the 23rd straight month.
Japanese officials admitted on the condition of anonymity, the rising power of neighbouring China, the fact that New Delhi had entered into talks with South Korea to exploit India's growing energy market as well as the considerable pressure by US companies who are joined at the hip with Japanese enterprises combined to persuade the Japanese government to relent in favour of the nuclear deal.
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.
From the US, Modi will travel to Egypt at the invitation of President Abdel Fattah El-Sisi.
"We see the Indian economy rebounding from our projected 6.1 per cent growth this fiscal year to something like 7 per cent in the next fiscal year (2020). We see the factors that will support growth, including monetary policy stimulus, working their way through the pipeline," Jonathan Ostry, Deputy Director, Asia Pacific Department at the IMF, told reporters.
In the first interaction between India and the Russian Federation, External Affairs Minister Sushma Swaraj will meet visiting Russian Deputy Prime Minister Dmitry O Rogozin on June 18.
According to sources, last week's talks between the two countries had hit a roadblock as Japanese trade envoys were unwilling to grant market access to Indian pharmaceuticals and allow professionals, including nurses, to work in the island nation. The talks were held in Tokyo.
The landmark Air India-Boeing deal will create up to 1 million jobs across 44 states in the US and will further deepen bilateral ties, President Joe Biden has told Prime Minister Narendra Modi. Boeing and Air India announced a mega deal on Tuesday under which the Tata Group-owned airline will purchase 190 B737 MAX, 20 B787, and 10 B777X for a total of 220 firm orders valued at $34 billion at list price. The deal will also include customer options for an additional 50 Boeing 737 MAX and 20 Boeing 787, totalling 290 airplanes for a total of $45.9 billion at the list price.
India is an 'extraordinarily important' economy and an 'important partner' of Canada in a range of sectors including fighting climate change and creating economic growth, Canadian Prime Minister Justin Trudeau said on Sunday.
The CEPAs with South Korea and Japan are likely to be concluded in September and October, respectively. While the pact with South Korea is likely to have only a moderate impact on the economic relationship between the two countries, the one with Japan will immensely help the Indian industry in gaining market access in the world's second largest economy. Currently, bilateral trade between India and Japan, which is currently close to $4 billion.
India and ASEAN have relations "free from contests and claims" and believe in sovereign equality of all nations irrespective of size, and support for free and open pathways of commerce and engagement, Prime Minister Narendra Modi wrote in his column.
The steep increase in visa fee of certain categories of H-1B and L1 visas was part of the $600 million border security bill signed by the US President Barack Obama, last week, to strengthen security along the US-Mexico border.
There is a growing sentiment in the world and the global South in a way embodies it. But there's also political resistance, he said.
India and South Korea commenced on Tuesday discussions on their initial offers in the Comprehensive Economic Partnership Agreement aimed at opening their markets to each other through reduction as well as elimination of duties.
The fuzziness of Trump's economic blueprint remains the biggest risk.
While the two sides' objectives may appear to differ, it is clear that both India and China are emphasising on the common minimum possible areas of cooperation between them, says Srikanth Kondapalli.
Observing that the strategic partnership between India and South Africa has gradually taken shape, the two countries on Friday agreed to give a boost to economic cooperation
The two part-time members of the new body would be from leading universities and research organisations.
'The future of BRICS is under stress as Chinese attempts to expand the platform are being resisted by India and Brazil.' 'Beijing is focused on a quick expansion with the aim of giving the platform a distinctly anti-Western orientation, which New Delhi and Brasilia seem to have no interest in,' notes Harsh V Pant.
The nation's largest lender State Bank of India today said it will not hike its lending rates immediately but will wait for further signals from the Reserve Bank's forthcoming annual monetary policy.
'It's vital that over the next 10 years, that India, the US and the Artemis Accords family of nations come together to ensure that we not only return humanity to the moon, but that we build the technology that will allow us stay there permanently.' 'And then go on to Mars.'
Clearly, Foxconn Chairman Young Liu and his team are looking to raise their game in India.
Global confidence in India has been restored, says Modi.
Panagariya also pointed out that COVID-19 pandemic may lead to integration of global labour market.
Prime Minister Narendra Modi said on Monday that the partnership between India and Germany could serve as an example of success in a complex world as the two sides inked several agreements focused on sustainable development under which India would receive USD 10.5 billion assistance by 2030 to boost the use of clean energy.
According to the industry body, the 16-member RCEP has the potential to become one of the largest and economically dynamic trading blocs of the world, even bigger than the European Union.
Prime Minister Manmohan Singh invited greater investment from Japan on Thursday as he wants to conclude a Comprehensive Economic Partnership Agreement between the two countries.
Announcing his tax reforms Trump said his policies would benefit working families.
Prime Minister Narendra Modi will join several global leaders to pay tributes to Japan's slain former prime minister Shinzo Abe at his state funeral in Tokyo on Tuesday.
Environmental and social activist groups in the country have expressed concern that Japan may dump toxic wastes into India by taking advantage of the proposed comprehensive economic partnership agreement.
India has been forcefully raising the issue of market access as well as protected lists of goods mainly to shield its domestic market as there have been fears that the country may be flooded with cheap Chinese agricultural and industrial products once it signs the deal.
"China creeps towards hegemony in Asia, threatens India's borders, and treats other countries as junior partners, Indian-American Congressman Ro Khanna said.
"Few nations are more vital to the future of American security and prosperity than India," Garcetti told the committee.
Prime Minister Modi will embark on his first state visit to the United States at the invitation of President Joe Biden and First Lady Jill Biden in June.
"We are very keen that before the year is out we should have an agreement on a comprehensive economic partnership," Dr Manmohan Singh said in an interview to a Japanese newspaper Yomiuri Shimbun. The two countries had earlier failed to finalise a trade deal by mid-2008 or to achieve visible progress in time to sign it during a three-day visit by Singh to Japan which started on Tuesday, the paper said.
The resolution condemns additional Chinese provocations, including China's use of military force to change the status quo along the Line of Actual Control, construction of villages in contested areas, publication of maps with Mandarin-language names for cities and features in the Indian state of Arunachal Pradesh, and expansion of Beijing's territorial claims in Bhutan.
Indian firms feared they would lose business if US ratified the Trans-Pacific Partnership agreement with 11 other countries.
"We value our partnership with India, and we've been increasing it and doing a lot more, over time. They have the same security challenge, primary security challenger that we do, and it's real on their northern border," Admiral John Christopher Aquilino, commander of United States Indo-Pacific Command, told members of the House Armed Services Committee during a hearing on Indo-Pacific National Security Challenges.
The prime minister was addressing the IBSA Business Council meeting in Pretoria
