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Looks like the Indian economy won't get better any time soon

Ficci has projected the country's annual median GDP growth for 2020-21 at (-) 4.5 per cent.

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12 July, 2020, 05:44 PM IST

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It is important that both India and China take action to ensure peace: Vincenzo de Luca, Italian Ambassador to India

The coronavirus has clearly shown that a solution to this global crisis needs to be assessed by the international community as a whole. Italy is working in close contact with the European partners and the international community in the search for a vaccine and in making available the data and information on the treatments, said Italian Ambassador.

G-20 Chair Saudi Arabia launch action plan to combat Covid through its business platform

B20 wanted to get consensus from the business world ...

Pakistan to avail Rs 335 billion debt relief from G20 to mitigate negative effects of pandemic

Pakistani authorities sought help from the Wor...

  • ET has learnt that G-20 health ministers meet a few weeks back failed to adopt a joint communique despite preparing a draft due to differences between Washington and Beijing. The US had strong reservations against G-20 health ministers’ joint communique even as the meet committed to strengthening the WHO’s mandate in coordinating a response to the pandemic, it has been learnt.

    The inaugural address for the annual conference, held virtually this year from 9-11 July, was delivered by Prime Minister Narendra Modi. It brought together influential participants from the private and public sectors to discuss India, the UK and the world.

    Some, emerging market economies may face a costly debt rollover if financial conditions tighten again, like they did in March, the IMF official warned. And the most vulnerable low-income developing economies, many of which were already facing a high risk of debt distress prior to the crisis, will need sustained support from the international community.

    The move comes as Airtel prepares to pay pending adjusted gross revenue dues, which could go up to almost Rs 26,000 crore, part of which may have to be forked out upfront, experts said. The telco also needs funds ahead of spectrum auctions scheduled later this year and for 4G expansion.

    Barclays said the United States is seeing the greatest fiscal deterioration but is "least likely to face a reckoning" on its debt levels. That is because the world's biggest economy enjoys the benefits of having the reserve currency and a large and liquid bond market that's less prone to volatility, Barclays said.

    The US had strong reservations against G-20 health ministers’ joint communique even as the meet committed to strengthening the WHO’s mandate in coordinating a response to the pandemic, it has been learnt.

    In a lengthy joint statement, the G7 finance ministers urged all official creditors to join the initiative, called for strengthened reporting of public debt data, and said all creditors - public and private - should make responsible lending decisions in line with debt sustainability guidelines.

    A dispassionate reader will find many common thoughts in Thengadi’s and Rajan’s ideas. Samaj, Sarkar and Bazar — society, State and market — have to work as per complementary needs of each other.

    Seven prominent cooperative leaders would be part of the forum. They are C P Yadav, MP and President of NCUI; U S Awasthi, MD of IFFCO; Dileep Bhai Sanghani, Chairman of NAFSCOB; Jyotindra Mehta, Chairman of NAFCUB; Satish Marathe, Director on RBI Central Board; Mangal Jit Rai, Chairman of NCDFI and Uday Joshi- National General Secretary of Sahakar Bharati.

    Dealing with aggressive China will require India to take strict measures such as media sensitisation, calculated choice of words and intelligent responses by the government and military leaders, inclusive closed-door discussions, debates and decisions.

    The G20/OECD Taskforce and its program of work helps to advance the work of the G20 Infrastructure Working Group as well as other related G20 groups addressing infrastructure financing and long-term financing issues.

    “Italy will chair G20 in 2021 and it wants to contribute, together with India, that will chair G20 in 2022 , to shape a new agenda to address the global challenges coming from the pandemic, the economic recession and the climate change," the envoy noted as he pushed for stronger coordination between Delhi and Rome on G-20 agenda.

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