The International Monetary Fund has raised India's growth forecast to 7% for this year and next. India is seen as having strong fundamentals which allow it to manage external pressures effectively. The exchange rate fluctuations are not indicative of economic failure according to IMF officials. Structural reforms and domestic demand contribute to India's resilience in the global economy. However, risks such as geopolitical tensions and fiscal pressures remain present.
Read full articleUnion Commerce and Industry Minister Piyush Goyal has urged Canadian businesses to utilize India's manufacturing capabilities. He highlighted the potential for production and exports to global markets beyond India's domestic market. Goyal emphasized India's preferential trade agreements that enhance market access to approximately USD 85 trillion of global GDP. He encouraged bilateral commercial engagements ahead of finalizing the Comprehensive Economic Partnership Agreement.
Union Home Secretary Govind Mohan has apologized unconditionally to the Supreme Court concerning a contempt notice issued. He clarified that the October 9 restrictions aimed to maintain peace amid potential protests in Delhi. Mohan emphasized that the internet shutdown was implemented to address public order concerns. The suspension of services was limited to cellular internet and did not affect Wi-Fi connections.
Union Home Secretary Govind Mohan has apologized unconditionally to the Supreme Court concerning a contempt notice issued. He clarified that the October 9 restrictions aimed to maintain peace amid potential protests in Delhi. Mohan emphasized that the internet shutdown was implemented to address public order concerns. The suspension of services was limited to cellular internet and did not affect Wi-Fi connections.
Parents of Ankita Bhandari protested the appointment of Dushyant Kumar Gautam as Sikkim governor, alleging his involvement in her murder. They issued a 24-hour ultimatum to the government to cancel his appointment. During the protest, police detained the parents along with several Congress leaders before releasing them hours later. Ankita's family and activists continue to demand an investigation into Gautam's alleged VIP connections.
Parents of Ankita Bhandari protested the appointment of Dushyant Kumar Gautam as Sikkim governor, alleging his involvement in her murder. They issued a 24-hour ultimatum to the government to cancel his appointment. During the protest, police detained the parents along with several Congress leaders before releasing them hours later. Ankita's family and activists continue to demand an investigation into Gautam's alleged VIP connections.
Opening ceremony held for new China-DPRK border bridge over Yalu River
Graphics: China advances two-way opening-up of its financial markets
Asia's central banks are advised to potentially tighten monetary policy in response to rising inflation expectations. Inflation has been impacted by an oil shock from the ongoing Middle East war, raising near-term price expectations. The International Monetary Fund emphasizes the need for clear communication from central banks on maintaining price stability. While Asia's economic growth continues to exceed the global average, risks remain that could impact fiscal stability.
A Chinese envoy to the UN on Wednesday called for efforts to break the political deadlock in Libya as soon as possible.