Every 10 per cent rise in crude oil price will shave off around 0.2 percentage point (pp) from India's GDP growth and widen the current account by 0.3 per cent, says Nomura.
'We hope that both India and Pakistan can exercise restraint and do more to improve their bilateral relations'
The Taliban's rise will see an increase in infiltration on India's western border and terrorist groups in Pakistan will get funding from the Taliban, warns Brigadier Rajamani Kannan (retd).
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.
After the first quarter was washed out, exporters are now keeping their fingers crossed over a turnaround in outbound shipments to at least North America from September onwards. This comes even as other key destinations such as Europe may take longer to revive in FY24. Slowdown in key economies, as well as geopolitical tensions resulted in sluggish demand for Indian goods.
The Indian rupee may remain under depreciation pressure on account of plateauing of exports and subsequent widening of the current account deficit, said the Economic Survey 2022-23 tabled in Parliament on Tuesday. It said the "risks to the current account balance stem from multiple sources". The country's current account deficit (CAD) widened to 4.4 per cent of the GDP in the quarter ended September from 2.2 per cent in April-June due to higher trade gap, as per latest data of the Reserve Bank of India.
Just because India has outperformed the US markets in a short recent period, it does not mean that this is based on fundamental reasons that are here to stay, points out Debashis Basu.
The finance ministry has cautioned that global and regional uncertainties and domestic disruptions may keep inflationary pressures elevated in the coming months, warranting "greater vigilance" by the government and the Reserve Bank of India (RBI). "Russia's decision to terminate the Black Sea grain deal, along with dry conditions in major wheat-growing areas, caused a price spike in cereals. Domestic factors like white fly disease and an uneven distribution of monsoon exerted pressure on vegetable prices in India," the ministry said in its latest Monthly Economic Report for July, released on Tuesday. However, the report maintained, the recent price surge in certain food items "is expected to be transitory". "Tomato prices are likely to decline with the arrival of fresh stocks by the end of August or early September.
Counter-terrorism experts from India, Pakistan and other member states of the Shanghai Cooperation Organisation on Monday deliberated on boosting cooperation in combating various regional security challenges at a meeting hosted by New Delhi.
Love them, hate them but the Oscars have a way of sneaking up on you.
'The cost of financing the fiscal deficit will decrease, as new passive investors join in.'
The Indian embassy in Ukraine issued a fresh advisory in view of increasing Russian attacks on several Ukrainian cities and reports of heavy fighting around the capital Kyiv.
'We actually have a problem because there may be too much activity in India.' 'Markets don't like too much concentration. But we are very happy with our collaborations in India.'
The business council aims to give impetus to trade.
'It will remain hostile to Indian interests owing to its close proximity to China.'
The Southeast Asian nation has been focusing on modernising its military in the face of myriad security challenges as well as decades-long territorial disputes with China in the South China Sea.
Wall Street-correlated stock markets are facing the risk of correction, as Christopher Wood, the global head of equity strategy at Jefferies, conveys to investors in his latest edition of GREED & fear. Rising crude oil prices, which are nearing $100 a barrel (Brent), pose a threat to the global central bank's battle against inflation and have led to a re-evaluation of its exposure to Indian stocks. "The potential for more US Federal Reserve (Fed) rate hikes, combined with the risk that monetary tightening finally bites as regards the economy, remains a risk for Wall Street-correlated world stock markets. "There is also the oil factor. This is why GREED & fear continues to believe the pain trade is down. "Areas in Asia, such as Indian midcaps, which have already done very well, are at obvious risk of some profit-taking," writes Wood.
"We have also assisted nationals from other countries, who approached us, in their return to their respective countries. And we will remain open to doing so in the coming days."
The onus today is on China, but it also requires a little diplomatic finesse from India, backed by a modernised armed force, argues BJP MP Subramanian Swamy in this excerpt from his new book, Himalayan Challenge: India, China And The Quest For Peace.
Naval Group's announcement comes a day before Prime Minister Narendra Modi's visit to Paris where he is scheduled meet recently re-elected French President Emmanuel Macron.
Foreign Secretary Harsh Vardhan Shringla on Wednesday had 'fruitful and productive' meetings with top Russian diplomats on bilateral issues as well as regional and global issues of mutual interest and the two sides discussed ways to further strengthen the bilateral Special and Privileged Strategic Partnership.
'Washington senses that the anchor sheet of India's strategic autonomy lies in its longstanding partnership with Russia, which remains firm and immutable despite the changes in world politics in the post-Cold War era,' notes Ambassador M K Bhadrakumar.<
Pakistan Prime Minister Imran Khan said on Tuesday that he would like to have a TV debate with his Indian counterpart Narendra Modi to resolve differences between the two neighbouring countries.
'China was a relationship from which Mr Modi had expected the most it seems.' 'It showed in a string of summits, and somewhat breathless celebration of Xi Jinping.' 'It was hasty and simplistic,' observes Shekhar Gupta.
The external affairs minister, delivering the Sardar Patel Memorial lecture, also made it clear that any attempt to unilaterally change the status quo of the Line of Actual Control (LAC) is 'unacceptable' to India.
During the virtual meet, Biden and Modi will discuss cooperation on a range of issues, including ending the COVID-19 pandemic, countering the climate crisis, strengthening the global economy, and upholding a free, open, rules-based international order to bolster security, democracy, and prosperity in the Indo-Pacific, White House Press Secretary Jen Psaki said.
The accountancy giant said the rapid rise of the Indian economy with its young workforce would push it up from being the 10th largest economy in 2013 to the third largest by 2030.
The further expansion and upgrade of the Chinese military does not augur well for India, which continues to confront an increasingly belligerent China on its borders, notes former foreign secretary Shyam Saran.
In the summit as well as in the inaugural '2+2' defence and foreign ministerial talks, the two sides are also expected to focus on the situation in Afghanistan and the rising threat of terrorism including from groups like Lashkar-e-Taiba and Jaish-e-Mohammed.
'It is a testing time for our foreign policy which may involve a certain element of taking risks, assessing costs, and expecting failures,' asserts Commodore Venugopal Menon (retd).
India scripted history as the ambitious third Moon mission of the Indian Space Research Organisation (ISRO) touched down on the Moon's south pole, propelling the country to an exclusive club of four and making it the first nation to land on the uncharted surface.
At a joint media briefing with Lavrov, Jaishankar listed issues such as "factors of instability" such as terrorism and its cross-border manifestation and said it remains a "major concern".
Indian Oil Corporation (IOC), the nation's top oil firm, has bought as much as 3 million barrels of crude oil that Russia had offered at steep discount to prevailing international rates, sources said. The purchase, made through a trader, is the first since Russia's February 24 invasion of Ukraine that brought international pressure for isolating Putin administration. Sources aware of the matter said IOC bought Urals crude for May delivery at a discount of $20-25 a barrel to dated Brent.
Pakistan's new Prime Minister Shehbaz Sharif and Russian President Vladimir Putin have quietly exchanged letters to strengthen bilateral relations, a media report said on Sunday, amidst allegations by Imran Khan that his maiden visit to Moscow, much against Washington's wishes, led to his ouster.
Modi on the global stage always comes across as a statesman, counselling peace and amity to world leaders even as his policies at home hurt certain sections, explains Virendra Kapoor.
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.
Since 2012, 44 Indians have been anointed as grandmasters -- the highest achievement in chess, points out Arvind Subramanian, economist and former chief economic adviser to the government.
China is a permanent member of the UNSC while India began its two-year tenure as a non-permanent member on January 1.
'We have been bold and innovative on recognition in the past and we do not need to rush,' advises Ambassador T P Sreenivasan.
Chinese Foreign Minister Qin Gang will travel to India to attend the Shanghai Cooperation Organisation (SCO) foreign ministers' meeting being held in Goa on May 4 and 5, the foreign ministry in Beijing announced on Tuesday.
