Page 4 - Developed Nations

Attempt underway to overlook rich nations' responsibilities: India at COP27

The progress on key issues at the ongoing UN climate summit has not been good due to the divergence of views on some fundamental approaches to climate issues, India said on Wednesday. Union Environment Minister Bhupender Yadav said there is a distinct attempt to "forget or overlook" historical contributions and responsibilities of developed nations. Yadav said India is co-leading (with Australia) ministerial consultations on key outstanding issues for climate finance. "Since the subject is sensitive, I am witness to intense negotiations on the issue," he said. India expects developed countries to provide climate finance of USD 1 trillion at the earliest, the minister said. Climate finance for adaptation, mitigation and addressing loss and damage is a key issue at the climate summit this year. Rich countries have repeatedly failed to mobilise USD 100 billion every year, a promise they made in 2009, to help developing countries cope with climate change. Developing countries, incl

BASIC Nations criticise developed world for backtracking on climate finance

They say fossil fuel use in Global North has risen, call it "double standards towards climate equity"; note that climate finance from developed nations continues to fall short of $100 bn a year goal

Developed nations backtrack on climate fund: Small island states at COP27

The inaction of many developed countries has potential to stall talks and deal a devastating blow to hopes of the developing world for the establishment of a loss and damage funding facility at COP27

Watch this count: India's share in world population peaking, to cross China

According to the UN's projections, world population will cross nine billion in 2037 and by then, India's share of the total population would have crossed China's

Indian students 'highly likely' to stay back in developed nations for work

Indian students are not just more likely to stay in developed countries on extended permits, but they are also highly likely to get a work permit during their stay

'Hurricane' of risks threatens emerging countries, says G20 chair

Emerging and developing nations face a "hurricane" of risks from rising energy costs and food insecurity, and any resilience some countries may have won't last long, the G20 chair said

India has nano demographic window to become developed country: Finance secy

India has a nano demographic window to achieve developed country status, and if it misses, it may not reach there, Union Finance Secretary T V Somanathan said on Saturday. The country has to grow at a rate of 8-8.5 per cent to reach developed country status, he said at an event here. "In the first decade of this century, China grew at approximately 9.5 per cent per annum and similar growth rates were witnessed in countries like South Korea and Taiwan" Somanathan said. The finance secretary made the comments while delivering the G Ramachandran Endowment Lecture on 'Development in Changing Times, the role of government efficiency' at the Madras School of Economics here. "The other thing which we often hear and it is an important point that a lot of people make is that we have nano demographic window in which to achieve developed country status, and if we don't catch this window or if we do not use this window, we may never get there," he said. "There are two widely held views abo

Cities will shape India's destiny, ensure developed nation in 25 years: PM

Prime Minister Narendra Modi on Friday said cities will shape the destiny of India and they will ensure that it becomes a developed nation in the next 25 years. He said that new cities are being built in the country as per the global business demand. Addressing a gathering in Ahmedabad after inaugurating the Gandhinagar-Mumbai Vande Bharat Express train and inaugurating phase-1 of the Ahmedabad metro rail project, he also made a pitch for modernising cities as per the changing times and called for the creation of twin cities. "India of the 21st century is going to get new momentum from the cities of the country. With the changing times, it is necessary to continuously modernise our cities with the changing needs. So much focus is being given and investment being made on the cities in the country, because they will ensure the creation of a developed India in the coming 25 years," he said. Ahmedabad, Surat, Vadodara, Bhopal, Indore, Jaipur - these cities will shape the destiny of Ind

Wealthy nations must share technology with developing world: S Korean prez

South Korean President Yoon Suk Yeol stressed the need for wealthy nations to share their advanced technologies and innovations with developing countries, particularly when it comes to closing the education gap and fighting infectious diseases. In the era of digital sophistication, one of the most urgent tasks for the global community and the UN is promoting global cooperation to narrow the digital divide which exacerbates polarisation between nations, Yoon told leaders gathered in New York Tuesday for the UN General Assembly. Yoon said his country will continue to widely share its advanced digital technology and data, and spare no effort in providing support and in investing in education. He also noted that South Korea has helped accelerate research and development for COVID-19 therapeutics and vaccines by pledging $300 million toward the ACT-A, a global initiative that pools together resources from governments, health organisations, scientists, businesses and philanthropists to ..

Developed world failed to meet its commitment on climate finance: Goyal

Commerce and Industry Minister Piyush Goyal on Thursday regretted that the developed world has "totally failed" in its commitment to providing technology and finance to developing nations to deal with climate change issues. He urged the International Dairy Federation (IDF) to consider initiating a global effort whereby nations that have contributed more towards the Green House Gas emissions actually put relevant technology and financing on the table to help mitigate the climate crisis in the less developed counties. This would include many nations in Asia and Africa, many of which have the commitment but do not necessarily possess the relevant technology and resources, he said. "We do very strongly believe that the developed world has totally failed in meeting its commitments to support the developing countries and the emerging markets or less developed countries, through their contributions of technology, through their contributions of low-cost long tenure government supported ...

Urbanisation's different strokes

The waves of urbanisation have been uneven around the world and are intrinsically tied to the level of development and industrialisation in a country

TMS Ep238: Development goal, Rakesh Jhunjhunwala, market, letter of comfort

How can India become a developed nation in 25 years? How did Rakesh Jhunjhunwala make his billions? Did inflation hurt India Inc more than expected in Q1? What is a letter of comfort? Answers here

What will it take to make India a developed nation in the next 25 years?

PM Modi has urged citizens to focus on five resolutions to make India a developed nation in the next 25 years. How will the country and its economy have to perform to achieve this goal by 2047?

What will it take for India to become a developed country by 2047?

Country's per capita income would need to grow 12.4% consistently to match that of OECD countries within the next 25 years

India got highest aid for trade from developed countries in 2020

The total disbursement during 2020 was $48.7 billion, which translates to India getting 4 per cent of the disbursements

Developed nations must lead in global transition towards net-zero: India

The maximum impact of the climate change is being borne by the poorest countries and most vulnerable communities who have contributed the least to the crisis, India has said

TMSEp214: Trade in rupee, Nicholas Stern, mid small caps, market correction

Will India's rupee settlement plan be a game changer? What's Nicholas Stern's take on India's road to development? Will the mid and small-caps continue to shine? How to deal with market correction?

A major recession in developed countries is unlikely: AIIB chief economist

We will have inflation at an elevated level for some time, says AIIB chief economist Erik Berglof

TMSEp194: Job announcement, food delivery apps, markets, economy categories

What is PM Modi's 'one million job' drive? Why's govt asking food apps to ramp up complaint-redressal? Will US Fed rate hike trigger market selloff? What are the different economies? Answers here

Difference between developed, emerging and frontier economies?

Investors looking for an international exposure need to understand various categories of economies and the risks involved. Find out the country categories and the things to note before investing there