'The situation is quite terrifying as you have no job creation and there will be loss of jobs.'
When President Obama lands in New Delhi later this week, this spirit of accommodation must reignite a strategic economic relationship between the two countries.
It said an estimated 42-66 million children could fall into extreme poverty as a result of the crisis this year, adding to the estimated 386 million children already in extreme poverty in 2019.
With nearly 100 countries closing national borders during the past month, the movement of people and tourism flows have come to a screeching halt. The contraction could be even higher if governments fail to provide income support and help boost consumer spending.
The trade impact of the coronavirus epidemic for India is estimated to be about 348 million dollars (approximately Rs 25 billion) and the country figures among the top 15 economies most affected as slowdown of manufacturing in China disrupts world trade, according to a UN report. Estimates published by United Nations Conference on Trade and Development on Wednesday said that the slowdown of manufacturing in China due to the coronavirus (COVID-19) outbreak is disrupting world trade and could result in a 50 billion dollar decrease in exports across global value chains.
Working round-the-clock over the past few days, an Indian Institute of Science team is buildingan indigenous ventilator prototype for Covid-19 victims, and it is expected to be ready in the current month itself. A ventilator can be a life-saver for patients whose lungs are damaged by the Covid-19 infection. But India, like all countries grappling with this pandemic, is likely to face a large shortage of ventilators.
Observing that the economic recovery was not yet fully entrenched, the RBI Governor said recovery is likely to be gradual.
Listening -- really listening -- to advisers in the government and outside would help. India has plenty of wise economists who have worked within the bureaucracy during previous crises, points out Rahul Jacob.
Countering the opposition claim that farmers across the country are agitated over the three new laws, he said that those in just one state are being misinformed and instigated.
The US became the first country in the world to have more than one million cases of coronavirus. It accounts for nearly one-third of the 3.1 million cases globally.
The US and China have sparred over the origin of the virus for days, with a Chinese official promoting conspiracy theories.
E-mobility is only one among the several fronts on which Mahindra is waging a battle of aspirations, to future-proof the $19-billion tractor-to-technology conglomerate, says Nikhil Inamdar.
With the government asking the companies to operate with only 50 per cent staff strength, and exports dipping to almost zero, the truck and bus drivers idling at the petrol pump say they hardly have any work now. At a petrol pump on the deserted Bavla-Changodar highway near Ahmedabad in Gujarat, several trucks and buses are neatly parked in a row.
Essar group, Bhushan Steel and JSW group likely to be impacted by changes
The pandemic helped many entrepreneurs including me realise the power of people who share your passion, says fashion entrepreneur Meghna Saraogi.
'You have to be a total anti-national bozo to shut down the Nokia plant in Sriperumbudur, which was the first large manufacturing plant for mobile phones in India.' 'Why was the unit shut down? Because of somebody's ego.'
After years of disappointing growth, the economy and the markets are poised for a breakout, notes Akash Prakash.
NSO has pegged economic growth at 5 per cent in 2019-20 in its second advance estimates.
Automation, artificial intelligence, cryptocurrency and virtual reality would demand more jobs.
The agreement on pricing last month marks a significant step towards promoting energy security in the region, say Nisha Taneja & Samridhi Bimal.
Stating that COVID-19 has not yet been contained in India, the rating agency in a statement said the government stimulus package is low relative to countries with similar economic impacts from the pandemic. "The COVID-19 outbreak in India and two months of lockdown -- longer in some areas -- have led to a sudden stop in the economy. That means growth will contract sharply this fiscal year (April 2020 to March 2021)," it said. "Economic activity will face ongoing disruption over the next year as the country transitions to a post-COVID-19 world."
'Terrorism continues to be the overwhelming threat to security and stability in the SCO region and therefore Dr Jaishankar strongly pitched for 'collective action',' observes Dr Rajaram Panda.
Modi called for ensuring maintenance of all essential services such as power, telecommunications, health and drinking and their immediate restoration in the event of damages caused to them.
'Investors should be careful in getting carried away; although a reversal of IPO frenzy this time is taking longer than in the past.'
Dharmendra Pradhan lays bare the next course of action for his ministry and says RIL will have to pay the same price at which it produced the volumes.
Aiming to enhance quality of life while conserving the planet, Fourth Partner has ventured into the disruptive sector of solar power
Markets are assuming that by the second half of 2021, the world will be approaching some type of normalcy, points out Akash Prakash.
China's presence in the international dog house is just the kind of opportunity that his opponents must be waiting for, predicts Colonel Anil A Athale (retd).
The government has to focus on real solutions, not make a mockery of the crisis through 'vaccine festivals',' asserts T N Ninan.
The opposition parties vehemently criticised the new 'one nation, one tax' system having four different rates instead of a single rate adopted in some countries including the UK and Singapore.
Entirely new businesses have been built using data to disrupt traditional companies.
Modi in his address to the BRICS Leaders Meeting in Hangzhou said "terrorists in South Asia or any where for that matter do not own banks or weapons factories". "Clearly someone funds and arms them and BRICS must intensify joint efforts not just to fight terror but to coordinate actions to isolate those who are supporters and sponsors of terror," he said, without naming Pakistan which is a close ally of China.
Some investors warned of a coming British or even global recession as sterling collapsed to hit its lowest since 1985.
India expects to remain unscathed this time, mainly because it is in a sweet spot as the world's third largest oil consumer, after the US and China, says Subhomoy Bhattacharjee.
While the number of active COVID-19 cases stood at 6,039, as many as 515 people have been cured and discharged, and one had migrated, it said. The total number of cases include 71 foreign nationals.
The US has been, historically, a sleeping partner in India-China relations. Today, any attempt by the Modi government to make a bilateral move to improve relations with Beijing could upset Biden's apple cart, notes Ambassador M K Bhadrakumar.
'One of the biggest issues the Indian economy faces right now is of job creation...' 'The nexus between growth and employment has to be closed...' 'In the absence of a manufacturing expansion, the alternative is to have the service sector as the driver of both GDP as well as employment growth.'
'The air force has treated the Tejas like a step child.' 'The Tejas has grown in capability, but the IAF has preferred foreign fighters like the Rafale.'
'You cannot implement such a huge exercise, which is bound to cause misery to millions, without studying every aspect of its consequences, economic and social,' notes Sherna Gandhy.
Barry Eichengreen, professor of economics and political science, University of California, Berkeley, analyzes the transparency of the Reserve Bank of India, the growth rate of the Indian economy and why he feels globalisation can never be rolled back.
