Page 2 - Economic Policy

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G7 nations commit to promoting India-Middle East-Europe Economic Corridor

The Group of Seven industrialised nations have committed to promoting concrete infrastructure initiatives such as the India-Middle East-Europe Economic Corridor (IMEC) in the G7 Summit Communique issued at the end of the three-day G7 Summit, attended by Prime Minister Narendra Modi. The Communique was issued on Friday evening after the customary family photo at the luxury resort of Borgo Egnazia, where the G7 also reiterated a commitment to a free and open Indo-Pacific based on the rule of law. Prime Minister Modi attended the G7 Summit at the invitation of Italian Prime Minister Giorgia Meloni, the host. We will further promote concrete G7 PGII (Partnership for Global Infrastructure and Investment) initiatives, flagship projects, and complementary initiatives to develop transformative economic corridors for quality infrastructure and investment, such as the deepening of our coordination and financing for the Lobito Corridor, the Luzon Corridor, the Middle Corridor, and the ...

India to stick to policy path whether PM Modi wins 3rd term or not: Rajan

The new govt will announce a budget shortly after it comes to power, which will likely focus on "all the good stuff that is happening while trying to see what other changes have to be made," he said

War minus shooting: Role of India in contemporary international trade

International trade right now is bringing back memories of the Cold War. What can be India's role in it?

Family and factory economics

Transitioning away from industrial norms, the 21st-century economy must prioritise work within families

Priorities for the next govt

It must deliver on policies required for equitable growth

RBI monetary policy highlights: Last mile of disinflation is always challenging, sticky, says Governor Das

RBI MPC highlights: Catch all the highlights related to RBI's Monetary Policy Committee announcements here

Mfg should contribute quarter to India's economic growth: M&M Group MD

The manufacturing sector needs to contribute a quarter to India's economic growth amid its ambition of becoming a USD 30-trillion economy by 2030 and a developed country (Viksit Bharat), M&M group Managing Director and CEO Anish Shah said on Friday. Sharing his perspective on the role industries and enterprises will have to play in accelerating national growth and economic prosperity at the third ABP Network's 'Ideas of India Summit 3.0' here, he also said over the next seven years, Indian GDP is expected to add as much to the global GDP as the entire European Union combined. The two-day event, which began here on Friday, has seen the participation of policymakers, cultural ambassadors, industry experts, celebrities, business leaders, economists, among others. "India envisions to be a 30-trillion economy by 2047 to be a Viksit Bharat. This means manufacturing should be 25 per cent of GDP... We should be more ambitious and make manufacturing grow 16 times and exports grow 11 ...

SL achieved economic recovery due to citizens' support: Wickremesinghe

President Ranil Wickremesinghe on Sunday said Sri Lanka has achieved progress in its economic recovery process due to the steadfast support of citizens to a comprehensive long-term national rebuilding programme despite facing hardships. Addressing the 75th anniversary of independence celebrations held here, Wickremesinghe said when the country marked Independence Day last year it was labelled bankrupt. He said progress had been achieved in the economic recovery bid owing to the steadfast support of our citizens who endured hardships in keeping with a comprehensive long-term national rebuilding programme. If we go on this road, the difficulties will fade away. The cost of living will become lighter. The economy will become stronger," Wickremesinghe stressed. Sri Lanka in April 2022 declared its first ever sovereign default since gaining independence from Britain in 1948. The crisis led Wickremesinghe's predecessor Gotabaya Rajapaksa out of office through a campaign of public agitat

Govt continues to be bright spot of world despite challenges: Piyush Goyal

The global economic uncertainties have impacted foreign direct investment (FDI) but despite these challenges, India will continue to be the bright spot of the world for overseas players, says Commerce and Industry Minister Piyush Goyal. While signing free trade agreements (FTAs) or bilateral investment treaties (BITs), the government always ensures the terms are best for India, Goyal told PTI in a post-budget interaction. Finance Minister Nirmala Sitharaman in her budget speech on Thursday said India is negotiating BITs with different countries in the spirit of 'first develop India'. She said that geopolitically, global affairs are becoming more complex and challenging with wars and conflicts. "The global uncertainty has certainly impacted FDI, particulary considering that the interest rates in the US and other developed countries have massively seen a spike," Goyal told PTI. He said that because of the high interest rates, there was a reverse flow of capital towards developed ...

India to become largest economic superpower by end of century: CEBR

India is expected to overtake both China and the US after 2080, based on demographic estimates and projections

India aims to become developed nation by 2047: Hardeep Singh Puri

India is on the cusp of making history, as it looks forward to becoming a developed nation by 2047, Union minister Hardeep Singh Puri said on Tuesday. Puri made the remarks after offering prayers at the Patna Sahib Gurudwara on the occasion of Veer Bal Diwas', which is being observed to commemorate the martyrdom of two sons of Guru Gobind Singh. "We are on the cusp of making history. India looks forward to becoming a developed nation by 2047. At such a point of time, commemoration of the martyrdom (shahadat') is of immense value, he said. Puri, who is the only Sikh in the Narendra Modi cabinet, expressed delight upon visiting the historical site where the 10th Sikh Guru was born. "I consider myself privileged to be here on this occasion. Prime Minister Narendra Modi had last year announced that December 26 will be observed as Veer Bal Diwas, said the Union minister, who was accompanied by senior leaders of the BJP in Bihar. Puri, who holds the crucial portfolios of Housing & Urban

On a hat-trick: Will RBI Governor Shaktikanta Das throw another surprise

RBI has maintained a hawkish tone in the last two policy reviews, and those steps were to further reinforce the point that the central bank is not dropping its guard on inflation any time soon

To be a developed nation by 2047, India needs to change a range of policies

For achieving over 8 per cent annual economic growth, the country will have to improve its human capital

Indian technology companies sacked more staff this year than in 2022

Ed-tech, food-related firms are among the sectors which have been worst affected

Monetary policy must remain extra alert to ensure economic stability: MPC

Monetary policy has to remain extra alert to be ready to act as and when warranted to preserve the hard earned macroeconomic stability, Reserve Bank Governor Shaktikanta Das has said. The fundamental goal of the monetary policy is to align inflation with the 4 per cent target and anchor inflation expectations, Das said, according to the minutes of the six-member Monetary Policy Committee (MPC) released by the RBI on Friday. The MPC in its last meeting earlier in the month, decided to keep the benchmark lending rate at 6.5 per cent, for the fourth time in a row, in a bid to keep retail inflation under check. "Monetary policy has to remain extra alert and ready to act, if the situation warrants. The hard earned macroeconomic stability has to be preserved," Das said while voting to keep the benchmark lending rate unchanged at 6.5 per cent along with five other members of the MPC. Das had cautioned that recurring incidences of large and overlapping supply side shocks bring with them th

Multilateral action needed to fight economic coercion by China: Report

Former Australian foreign minister Julie Bishop at the Ditchley conference, stressed the importance of major powers' taking joint action to fight its pressure

Exporters seek more sops for value-added products under Rodtep scheme

Say current structure provides higher refund rates on lesser value-added goods

NCCD's innovative cold chain conclave paves way for J&K's economic growth

He discussed NCCD's role in advancing the cold chain sector with a focus on energy, technology, and climate, which would open up investment opportunities in Jammu and Kashmir

Malawi looks to deepen trade relations with India in key economic areas

African country Malawi looks to deepen trade and investment relationship with India in areas of energy, agriculture, mining and tourism, its High Commissioner to India Leonard Mengezi said here on Saturday. Mengezi said that Malawi looks forward to cementing the "great cohesion" with businessmen in Gujarat to further strengthen India-Malawi relationship and attract investment. Mengezi was here to participate in the India-Malawi Trade Conference organised by India Africa Trade Council with the aim to enhance business cooperation with Gujarat. "Malawi has been in great trade, economic and investment relations (with India) since 1964, when Malawi got its independence. But there is a need to deepen relationships further in the areas of energy, agriculture, mining, tourism," he told mediapersons. "We need to cement great cohesion with the business people here in Gujarat so as to strengthen Malawi-India relations, so that there is a greater understanding and we take business people who a