India trying to build consensus over vaccine patent waiver, resists agri talks as WTO summit enters last day: Officials
But as member nations struggle to compromise on almost all key issues, the 12th biennial summit of the World Trade Organization (WTO) has been extended by a day to Thursday.
WTO Summit extended by a day as consensus eludes nations on all issues
WTO Director-General Ngozi Okonjo-Iweala called on member nations to go the extra mile to find convergence on the various issues at stake at the 12th Ministerial Conference (MC12) and to be mindful that time is running out to conclude meaningful agreements.
Growth of 7–7.5% this year not bad, inflation could persist: EAC-PM chairman
It would be unrealistic to expect real GDP growth rates of 9 percent unless exports pick up substantially, which could be an issue as the external demand situation is not as rosy as it might have been, Bibek Debroy said.
India's overall exports in May surged 24% to $62.21 billion
The estimated value of services export for May 2022 is $23.28 billion
WTO Summit | Developed nations industrial fishing fleets should be held responsible for overfishing: Commerce Minister
India has pushed for a stronger global agreement to battle overfishing based on the principles of 'common but differentiated responsibility and 'polluter pays' whereby developed nations that have exploited the most oceanic resources being held responsible for marine ecosystem collapse and cutting back subsidies more.
Soft May inflation print unlikely to alter rate hike path
The country's rate-setting panel is widely expected to raise the policy rate to as much as 5.5-to-6 percent in the current rate hike cycle. Policy action after that could be data dependent.
Israel, India prepare to resume free trade agreement talks
”We share similar challenges in a wide range of fields, from agriculture, climate and water to homeland security, fintech and cyber,” Israeli Economy Minister Orna Barbivai said in a statement.
Blocking subsidy to India's fishermen to affect millions of fishers, their families
Developed members of the World Trade Organization (WTO) are pushing to eliminate subsidies under the proposed fisheries subsidies agreement, which is under negotiation here.
India's power demand jumps by 45,000 Megawatt in a year; ensuring 23 to 23.5 hour supplies: Minister
A massive addition in the generation capacity, integrating the country into one transmission grid and strengthening of the distribution system during eight years of the Modi government is ensuring the 23 to 23.5 hours of electricity supply, he said in an interview with PTI.
Goal of USD 5 trillion GDP appears to be case of 'shifting goalposts': P Chidambaram
Speaking at the finance ministry’s iconic week celebrations of ’Azadi ka Amrit Mahotsav’, Nageswaran had said last week that IMF has forecast the Indian economy to cross USD 5 trillion by 2026-27. India’s Gross domestic product (GDP) in dollar terms has already crossed USD 3 trillion.
SBI chairman bullish on economic recovery as loan demand rebounds
Companies are steadily drawing down from a $71-billion loan pipeline, Dinesh Kumar Khara, chairman of State Bank of India, says. Loan growth at the 216-year-old lender is expected to be robust, underpinned by demand from businesses after two straight years of credit contraction
Soaring US inflation fuels bets on sharper Fed rate hikes
Most economists still expect a half-point hike next week, and more of the same at subsequent meetings through at least September if not further
OBCs will get quota in Maharashtra local body polls, empirical data to be submitted in time, says Chhagan Bhujbal
He also slammed the comments made against Prophet Mohammad allegedly by suspended BJP leader Nupur Sharma but asked people to be patient and not be provoked over the issue
Gen Z, Millennials and Gen X all agree on WFH
Support for hybrid working is high across demographics. But bosses should ask why — and address the reasons
Over 25,000 ration shops to function as common service centres in Jharkhand
In a bid to provide a slew of services to people through PDS dealers, a memorandum of understanding was signed between the state food, public distribution and consumer affairs department and CSC-SPV, an official release said.
India's bio-economy has grown 8 times in the past 8 years to $80 billion: PM at Biotech Startup Expo
Modi also launched the biotech showcase portal, which parades 750 indigenous products and technologies from the biotech sector
RBI policy | Expected: MPC rate hike. Unexpected: RBI's eagerness to remove accommodation
RBI policy meet outcome | If RBI were to reach zero or deficit liquidity by end of 2022 and this coincides with a sharper pick up in credit and wages, we may be staring at far higher loan rates sometime soon
QS World University Rankings 2023: IISc top research university in the world; 27 Indian varsities among top 1000
The Indian top universities are led by IISc, followed by IIT-Bombay and IIT-Delhi respectively.
Age of incremental change is over, its time for exponential growth in higher education: Govt
On the sidelines of Visitor’s Conference 2022, President Kovind met distinguished donors and philanthropists who have donated to IISc Bangalore and IIT Madras to strengthen the educational infrastructure and develop new research and innovation centers at these institutions.
Gujarat govt hikes auto-rickshaw fares after demand by unions
The minimum fare has been increased to Rs 20 from the existing Rs 18, and the running fare for each subsequent kilometre has been hiked to Rs 15 from the present Rs 13, state Transport Minister Purnesh Modi announced after meeting representatives of various auto-rickshaw unions.
RBI’s Monetary Policy Briefing: Here’s what RBI Governor Shaktikanta Das said
RBI has raised the repo rate by 50 basis points, an increase for the second time in five weeks at the conclusion of the monetary poly committee’s three-day meeting on June 8. Here’s what Shaktikanta Das said during the policy press briefing.
Unrealistic to expect funding from developed countries on climate change: CEA
India is quite serious about meeting its commitments under COP26, but may have to offer higher fiscal subsidy to convince the people to go green, the chief economic adviser said.
Exclusive | Govt considering express approval for export of 1.1 mn tonnes of wheat stuck at ports
Since India banned private wheat exports on May 13, exporters have been using a registration process to apply for shipping out wheat that has already received Letters of Credit. Nearly 1.1 million tonnes of such stock currently await scrutiny at ports, and run the risk of being destroyed by monsoon rains in just a week from now.
PM Modi Launches unified portal for credit schemes
The portal can be used to avail loans for education, agricultural infrastructure, business activity and livelihood opportunities.
In post-Brexit era, Indian industry should shift investments from UK to France to access European markets: French Ambassador
France is currently the top most destination for FDI into Europe even though it ranks third on the list of Indian investments in the continent.
