Global Growth

India will host for the first time the general assembly of International Cooperative Alliance along with a global conference in November this year, a move aimed at strengthening the cooperative movement in the country. Prime Minister Narendra Modi has been requested to inaugurate the event, which is scheduled to be held in the national capital during November 25-30. Around 1,500 distinguished guests from over 100 countries will participate. International Cooperative Alliance (ICA) is the voice for cooperatives worldwide. It is a non-profit international association established in 1895 to advance the cooperative social enterprise model. Fertiliser cooperative IFFCO has taken the initiative to host the ICA General Assembly and Global Cooperative Conference. IFFCO MD U S Awasthi said the conference will be used to showcase Indian Cooperatives' products and services in the 'Haat' setup with the theme of Indian Village. He said this event will be totally "carbon neutral". To compensate

Global retail sales were 'well below' pre-Covid trend observed between 2017 and 2019, it says

However, for 2025, Fitch expects world growth to edge down to 2.4 per cent as US growth slows to a below-trend rate of 1.5 per cent and growth in the Eurozone picks up to 1.5 per cent

But could India really overtake China and the United States to become the world's largest economy by the end of this century, as some predict?

Underlining that global commons are getting "contested", top admirals from the UK, France and the US on Friday pitched for forging partnership between like-minded nations to respond to ongoing crises in the world, provide stability, reduce risks and restore confidence. Navy Chief Adm R Hari Kumar; Adm Sir Ben Key, First Sea Lord and Chief of Naval Staff, the UK; Adm John C Aquilino, Commander, US Indo-Pacific Command; Adm Nicolas Vaujour, Chief of the Naval Staff, France; and Air Marshal Robert Chipman, Chief of the Air Force, Australia took part in a panel discussion titled 'From the Aegean Sea to the South China Sea: Responding to Maritime Sieges', held at the Raisina Dialogue here. "If you can see what is happening in the South China Sea, and Red Sea where people are seeking to impose their will on the global commons... then that ripple will be felt far and wide, and not just in that point. And, this is what separates the maritime environment from the land environment," Adm Key ..

Here is the best of Business Standard's opinion pieces for today

Growing at a robust rate due to economic reforms in key sectors like digitisation and infrastructure, India has emerged as a star performer and is projected to contribute more than 16 per cent of the global growth, the International Monetary Fund said on Monday. What we have been observing for quite some time now is that India has been growing at a very robust rate. It's one of the star performers when it comes to real growth when you look at peer countries. It's one of the fastest growing large emerging markets and it's contributing, in our current projections, more than 16 per cent of global growth this year, Nada Choueiri, the Mission of India at IMF, told PTI in an interview. The IMF on Monday released its annual Article IV consultation with India, according to which the South Asian country, underpinned by prudent macroeconomic policies, is on track to be one of the fastest-growing major economies in the world this year. Nonetheless, the economy is facing global headwinds, ...

In most countries, the IMF, an institution charged with monitoring the health of the global economy, foresees inflation remaining above central bank targets until 2025

Manoj Mehta and Jane Livesey will lead two units and report directly to CEO Ravi Kumar S

The IMF trimmed its global-growth projections, warning of high uncertainty and risks as financial-sector stress adds to pressures emanating from tighter monetary policy and Russia's war in Ukraine

Nageswaran says IMF's latest estimates for global growth appear outdated

India continues to remain a relative "bright spot" in the world economy, and will alone contribute 15 per cent of the global growth in 2023, International Monetary Fund (IMF) managing director Kristalina Georgieva said. While digitisation pulled out the world's fifth-largest economy from pandemic lows, prudent fiscal policy and significant financing for capital investments provided in the next year's budget will help sustain the growth momentum. "India's performance has been quite impressive. For this year, we expect India to retain a high growth rate, 6.8 per cent for the year that ends in March. For FY 2023/24 (April 2023 to March 2024) we project 6.1 per cent, a bit of slow down like the rest of the world economy, but way above the global average. And in that way, India is providing about 15 per cent of global growth in 2023," Georgieva told PTI in an interview. That is the fastest growth rate among major economies. India remains a bright spot at a time when the IMF is projectin

Despite doing better than rest of the world, inflation remains a key challenge to country's growth prospects, says

Upper middle class and rich buying premium electronic products despite a hike in prices: Report

That institution warned in October that more than a third of the world economy will contract and there is a 25% chance of global GDP growing by less than 2% in 2023

Citigroup on Wednesday forecast global growth to slow to below 2% next year, echoing similar projections by major financial institutions such as Goldman Sachs, Barclays, and J.P. Morgan

Prime Minister Narendra Modi said that India will have to focus on global good and world welfare during its presidency of G20

The world economy will be as weak next year as it was in 2009 after the financial crisis as the conflict in Ukraine risks becoming a "forever war," the Institute of International Finance said

Barclays forecast a slowdown in global growth to 2.2% in 2023 versus 2.8% this year, and warned that it expects advanced economies to contract in Q4 with zero growth next year

The finance minister said if India and the United States joined efforts in growing their respective economies, they might be the engines of global growth within the next two decades