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In India, China’s tech giant companies and venture capital funds have become the primary vehicle for investments in the country – largely in tech start-ups. This is different from other emerging markets where Chinese investments are mostly in physical infrastructure. Chinese FDI into India is small at $6.2 billion, but its impact is already outsized, given the increasing penetration of tech in India
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Chinese investments in India’s soft power sectors, such as smartphones and apps, glitter like a diamond necklace around India. Here is anecdotal evidence of their reach and capacity to harvest more data than necessary, with recommendations for their regulation
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There have been mixed reactions to India’s not signing on to the Regional Comprehensive Economic Partnership. India is often criticised for abstaining from trade agreements and being a protectionist nation, but in fact, the reverse is true. The country’s trade to GDP ratio of 43% is higher than China’s 38% and the U.S.’ 27%. This shows how important trade is for India, particularly if it wants to reach the 2024 goal of being a $5- trillion economy.
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The Seventh Tokyo International Conference on African Development was a departure from earlier editions of it. Japan, which is changing tack as a competitor to China in Africa, held back from publicising the number of heads of state present to prevent any comparisons with other such forums and made no further commitments on Overseas Development Assistance. The accent, instead, was on increasing Japanese private sector engagement
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India’s traditions are finally getting their due – with a Geographical Indication tag. This opens up a world of soft power for India. The first GI tag was given to Darjeeling tea. Now, after over a decade, the first ever GI store has opened at Goa’s airport. One of the Goan products on sale is feni, a popular local brew, which, with its new GI tag, can make a global splash
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The African Continental Free Trade Area, launched in July, is a landmark achievement, aiming to eliminate tariffs on 90% of products covered by intra-Africa trade and thereby spur entrepreneurial initiative and job creation. It envisages many other gains as well, but the hurdles in their realisation cannot be wished away. An analysis
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India can catalyse trading in oil on its domestic exchanges, and thereby adjust global oil prices so they reflect the changing patterns of global trade. In the process, this can help Indian companies and government reduce the risks arising from high energy prices. And in the long run, it can give India a more central position in the global financial system
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The 2019 G20 Summit in Osaka on June 28-29, is the 14th meeting of the Group of 20 leaders. The G20 is the world’s most influential economic multilateral forum. It is the agenda-setting forum that develops and guides rules of global economic governance. Under the Japanese Presidency, this summit will be the first to discuss and establish the rules for the worldwide governance of data, including current hot-button issues like data localisation and data sovereignty. India has both a preparatory and a contributory role to play in the G20 this year. For in 2022, it will be the President of the G20. India must identify its agenda early on; its a weighty responsibility but also an opportunity to set the global economic agenda.
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The imminent expiration of the terms of some members of the WTO Appellate Body, with neither any signs of their extension nor appointments being made afresh, suggests that this crisis will intensify. An analysis of all that ails the WTO Appellate Body, and the implications this has for India and the multilateral trading system
Courtesy: Egypt Today
The inaugural Russia-Africa summit in Sochi in October is President Putin’s way of proclaiming a new phase in Russia’s relationship with the continent while increasing its relevance among countries with an established presence. The aim is to strengthen cooperation in the nuclear power, mining and security sectors