India on Thursday announced here a new alliance for global good, gender equity and equality, on the sidelines of the World Economic Forum Annual Meeting, with the WEF Founder and Chairman Klaus Schwab offering to partner this initiative with full support. The announcement was made at an India Reception on the sidelines of the WEF Annual Meeting, hosted by apex industry chamber CII and attended by union ministers Smriti Irani and Hardeep Singh Puri as well as WEF Founder and Executive Chairman Klaus Schwab, among others. The idea of this alliance emerged from the G20 Leaders' Declaration and India's abiding commitment to the cause of women-led development as propounded by Prime Minister Narendra Modi, Women and Child Development Minister Smriti Irani said. As a follow-up to the activities of the Engagement Group and initiatives under the G20 framework, the Business 20, Women 20 and G20 EMPOWER, this alliance aims to take forward the commitments of the G20 leaders for the benefit of t

GCCs are offshore units of multinational corporations that operate across the globe

Widely regarded as transient, these shocks appear to have imparted volatility and persistence to food inflation which averaged 6.7 per cent during April 2022 to November 2023, it said

Das said the central bank had not mandated any number on credit deposit ratio, and neither do they propose to

It says headline inflation must align with 4% target by second quarter

"A well-functioning Internal Ombudsman mechanism is beneficial for all stakeholders"

Non-Resident External (NRE) deposits stood at $96.79 billion in November 2023, sequentially up from $96.56 billion in October and $95.31 billion in November 2022

"In India, potential output is picking up with actual output running above it, although the gap is moderate," the RBI said in an article titled 'State of the Economy'

Rating agency ICRA has projected the GDP growth rate to slow down to below 6 per cent in the December quarter, mainly account of sharp fall in kharif crop output, and weak progress in rabi sowing for some crops. india had registered a Gross Domestic Product (GDP) growth rate of 7.6 per cent in the July to September period. The rating agency said the year-on-year growth in ICRA Business Activity Monitor eased for the second consecutive month to a six-month low of 8.1 per cent in December 2023 -- as against 7.9 per cent in December 2022 and 9.6 per cent in November 2023. "This can be attributed to a combination of factors, including easing in momentum of activity after the end of the festive period, tapering of demand for electricity and petrol with the onset of the winter season in North India, as well as unfavourable base effects for some indicators," it said. Despite a moderation in year-on-year growth, the index witnessed a sequential uptick of 1.4 per cent in December 2023, driv

"There is unemployment here and its because of it that people want to leave," said Lekharam, a mason who was among the workers gathered at a recruitment camp in Rohtak, 66 km (40 miles) from Delhi

The country is estimated to have harvested 355.35 million tonnes of horticulture crops in the 2022-23 crop year, about 8.07 million tonnes more than the previous year, as per agriculture ministry data released on Thursday. The ministry has come out with the third production estimate after the harvesting of the 2022-23 horticulture crops. Agriculture Minister Arjun Munda said despite challenges surrounding climate change, horticulture production has gone up, thanks to efforts of farmers and agri-scientists. As per the third estimate released by the ministry, total production of horticulture crops has increased 2.32 per cent (8.07 million tonne) to 355.25 million tonnes in the 2022-23 crop year -- July-June -- from 347.18 million tonnes in the previous year. Of the total horticulture production, fruits production rose to 109.53 million tonne in 2022-23 from 107.51 million tonne in the previous year. Vegetable production, too, increased to 213.88 million tonnes in 2022-23 from 209.14

Asserting that the Indian economy has undergone a significant transformation in the last one decade, three union ministers on Thursday said the country's economic growth now is not only high but also inclusive. Speaking at a session on 'Can India seize its moment' at the World Economic Forum Annual Meeting 2024, union minister Hardeep Singh Puri said India has already seized the moment. "I say so because of the GDP growth we are clocking and the expectations from all quarters for a continued growth momentum," he said. Speaking in the same session, his Cabinet colleague Ashwini Vaishnaw said the last decade has seen a significant transformation in the Indian economy. "Major investments have happened in physical and digital infrastructure. That has had a huge impact on manufacturing and overall economic activity," he said. Smriti Irani, Minister for Women and Child Development, said she agrees with minister Puri that India has already seized the moment. She said India used to have

The three posts include two posts of Joint Secretary and one post of Economic Adviser

The Union Cabinet Thursday approved separate memorandum with the Netherlands, Dominican Republic and Ecuador on cooperation in the field of medical products regulation, an official statement said. The cabinet chaired by Prime Minister Narendra Modi was apprised of the three Memoranda of Understanding (MoU) which were signed between the Health Ministry's Central Drugs Standard Control Organisation (CDSCO) and the respective regulatory authorities of the three countries. The MoU between the CDSCO and the Directorate General for Medicine, Foods and Sanitary Products Organizations of Ministry of Public Health and Social Assistant of Dominican Republic was signed on October 4 last year. Issues of substandard and falsified medicines moving in the international markets, and interaction amongst regulatory agencies are facilitated through the MoU, it stated. Convergence in the regulatory practices could help increasing export of medicines from India and consequentially create employment ...

World Economic Forum's AI Governance Alliance on Thursday said a global effort is needed to create equitable access to advanced artificial intelligence. Artificial intelligence holds the potential to address global challenges, but it also poses risks of widening existing digital divides or creating new ones, the alliance said at the WEF Annual Meeting here. It also released a series of three new reports on advanced AI focussing on generative AI governance, unlocking its value and a framework for responsible AI development and deployment. The alliance brings together governments, businesses and experts to shape responsible AI development applications and governance, and to ensure equitable distribution and enhanced access to this path-departing technology worldwide. "The AI Governance Alliance is uniquely positioned to play a crucial role in furthering greater access to AI-related resources, thereby contributing to a more equitable and responsible AI ecosystem globally," said Cathy

The apex court is hearing public interest litigations (PILs) challenging the environment ministry's decision to approve the commercial cultivation of GM mustard

NHAI proposes major reforms in BOT projects

The Uttar Pradesh government on Wednesday approved Rs 2,940 crore in funds for industrial bodies YEIDA, UPSIDA and UPEIDA, Cabinet minister Nand Gopal Gupta said. The funds are for expansion of the Yamuna Expressway Industrial Development Authority (YEIDA), the UP State Industrial Development Authority (UPSIDA) and UP Expressways Industrial Development Authority (UPEIDA), he said. Gupta, the industrial development minister, said the newly formed Bundelkhand Industrial Development Authority has been earlier granted Rs 3,000 crore for land acquisition. "In the financial year 2023-24, Rs 8,000 crore was set aside for industrial expansion in the state. Of the remaining Rs 5,000 crore, Rs 1,000 crore has been approved for UPEIDA, Rs 1,500 crore for YEIDA and Rs 440 crore for UPSIDA," Gupta said in a statement. "So far, a total of Rs 7,042.67 crore has been approved for the expansion of all industrial development authorities," the minister added. Gupta said the state government is commi

India's stock benchmarks, trading at record highs, just clocked their eighth straight year of gains as investors bet on the country's booming economic growth prospects

India has asked WTO members to fast-track talks on finding a permanent solution on the public stockholding for food security issue at the ministerial-level meeting of the WTO in February, but some countries differ on this, an official said. The issue was discussed at a WTO (World Trade Organisation) agriculture negotiations meeting held on January 16. In the meeting, the US stated that "given members' deeply divergent views", a permanent solution for public stockholding for food security purposes by the 13th Ministerial Conference (MC) is "not possible", the Geneva-based official said. The MC is the highest decision-making body of the Geneva-based global trade watchdog WTO. The 13th MC meeting is scheduled for next month in Abu Dhabi. In its presentation, India stated that the public stock-holding (PSH) has to be dealt with separately on a "fast track mode and emphasized that it has to be delivered at MC13", the official added. According to the officials, the US has stated that ..