Addressing the "Dialogue of Emerging Market and Developing Countries", Xi appeared to rebuke the United States's recent resistance to international agreements - including the Paris climate accord.
"Unlike the global economy, which will see a shrinking contribution from the entertainment and media sector over the outlook period, in India the sector's growth rate will outpace the overall GDP growth rate," said PwC India Entertainment & Media Partner and Leader Frank D'Souza.
Rising trade protectionism and policy uncertainty, primarily in the United States under President Donald Trump, pose important cautions for the outlook.
The deadlocked Free Trade Agreement (FTA) between India and the European Union (EU) is likely to take centre-stage at this meeting, with Germany-based CEOs keen to push for a further opening up of the Indian market.
A day before finance ministers and central bank governors meet for the ADB's 50th annual meeting, the multilateral agency's Chief Economist Yasuyuki Sawada said it was "difficult" to say if protectionism was "good or bad" and he did not want to make any judgement.
"Questions are raised today in certain quarters about the global compact, which we have developed over the years- multilateralism driving the rule-based flow of goods and services- to deliver growth, development and poverty reduction for all and achievement of global public good.
The bank said further improvements in the global outlook will require policies that foster inclusive and sustainable growth, address financial vulnerabilities, said the communique issued by the Development Committee at the finance ministers and central bank governors who met here for the annual Spring Meeting of the International Monetary Fund and the World Bank.
For the transformation of the Indian economy, he said it is essential for the younger generation to be daring and that India is integrated with the global economy.
The Reserve Bank of India today kept the repo rate unchanged at 6 percent and hiked the reverse repo rate by 25 basis points to 6.25 percent.
CNBC-TV18 will felicitate the leaders who have led the country’s glorious journey from the front, in the 12th edition of CNBC-TV18's India Business Leader Awards (IBLA) on March 23. The business leadership awards recognise leaders who create and sustain entrepreneurial initiatives, develop best practices and carve out powerful businesses in the global economy.
The Fed increased the interest rate by 25 basis points to a range of 0.75 percent to 1.00 percent on strong macroeconomic data and confidence in inflation which is rising to central bank’s target.
On the face of it, Wednesday's expected interest rate hike by the Federal Reserve would be a clear sign that the United States has emerged from the shadow of the global financial crisis, a decade after it began.
The Paris-based Organisation for Economic Cooperation and Development estimated global economic growth would run at 3.3 percent this year before reaching 3.6 percent in 2018, unchanged from its last estimates in November.
Growth in both output and orders accelerated last month, according to official and private factory surveys on Wednesday, giving the government more room to focus on tackling financial risks to the economy as debt continues to rise.
With the global economy slowing down while the Indian economy stays particularly "resilient" and with increasing distressed assets in the Indian business environment, Indian business houses have been on the frontline of global and domestic M&A, said the report by the global consultancy firm.
The RBI‘s first policy decision in 2017 was set against the backdrop of a domestic economy engaged in the process of remonetisation and considerable policy turbulence in the global economy.
Speaking to CNBC-TV18, Bill Maldonado, Chief Investment Officer-Asia Pacific and Global CIO-Equities at HSBC Global Asset Management, said the Modi government has a fantastic track record on reforms.
As the annual talkfest of the rich and powerful from across the world reached its last day here, top economic leaders felt the global economy is improving though mostly on internal factors even as they warned of new 'black swan' events post elections in various countries.
The head of the International Monetary Fund said on Friday that one of the biggest risks to the global economy in 2017 was "a race to the bottom" on taxes, regulations and trade, in an indirect reference to the policy plans of the incoming US administration.
With China seeking to position itself as the new leader of global economy in place of the US, Union Minister Nitin Gadkari today said India also needs to grab this opportunity as the world is looking at it with high hopes and it would need to further fast-track the decision making process.
Going into 2017, we expect the ongoing volatility to continue for some time now. On the macro front, temporary disruption in cash transactions due to demonetisation is likely to hurt domestic demand for a couple of quarters, especially for discretionary items.
In a pre-Budget meeting with the Finance Minister, some participating members suggested that the upcoming Union Budget should not be a conventional one as these are not normal times, a Finance Ministry statement said.
Modi, who distributed 500 wooden charkhas to women, said there was a time when Khadi was used as a tool in fight for Independence now it should be used for fashion.
"India is now being seen as the sole bright spot in a troubled global economy. When foreign investors look at India, they feel confident and reassured. Nearly USD 26 billion has flowed into the country this year so far since we opened the floodgates for FDI across sectors," he said at an event here.
Negative interest rates is not only hampering global growth but they are here to stay and won‘t be going away anytime soon, said Luis Oganes, Chief Economist, JPMorgan.