India may take 75 years to reach one-quarter of US income per capita: World Bank
New Delhi, August 3 More than 100 countries, including India, face serious obstacles in becoming high-income countries in the next few decades, and New Delhi may take nearly 75 years just to reach one-quarter of US income per capita, a... Key Points
The Tribune13th Ministerial Conference of the WTO: Multiple narratives need not perplex us
What may seem like overwrought negotiations on world trade may yet yield clarity. We need progress on e-commerce, food security, fisheries and dispute settlement, among other issues. Key Points
mintWhat was agreed at WTO negotiations in Abu Dhabi?
Despite extended talks, WTO negotiators in Abu Dhabi failed to reach agreements on major reforms. They did agree to extend a moratorium on tariffs on digital goods until the next ministerial conference, but discussions on e-commerce were stalled by countries like India and South Africa. Disagreements also persisted on dispute settlement, with the WTO's top court still hampered by U.S. opposition. No deal was reached on agriculture, particularly regarding India's push for a permanent solution on public stockholding. Fisheries subsidies, aimed at curbing overfishing, also saw no resolution. Key Points
Economic TimesWhy the MILAN matters to Southeast Asian countries
What makes this years MILAN even more significant for Southeast Asian countries is the geopolitical backdrop against which it is held. Today, the security dynamics between the Indian and Pacific Oceans are becoming increasingly interdependent due to the deepening and broadening of traditional and non-traditional security threats. Key Points
Economic TimesGlobal malnourishment: 1 in 8 people are obese
New data from The Lancet suggests fewer people are starving across the globe. But obesity is taking its place. | Health Key Points
Hindustan Times
India pitches re-examination of customs duties moratorium on e-commerce
India calls for re-examination of customs duties moratorium on e-commerce at WTO. Developing countries losing $10 billion annually. India opposes extension, facing $500 million loss each year. Policy options needed for digital industrialisation. Discussions at 13th Ministerial Conference. Key Points
Economic TimesMC13: Talks stuck on crucial issues, EU, US block India proposals
Negotiations at WTO's Ministerial Conference on fish and farm subsidies are stuck. Developed countries resist developing nations' demands. EU and US block pro-development agenda. Green room meetings continue. Little action seen on promises made by developed nations for development matters. Key Points
Economic TimesInvestment facilitation: Government gets support from civil society
India Business News: Civil society supports govt's stance on IFD agreement. China accused of pressuring poorer nations. India and South Africa oppose plurilaterals. G33 gr Key Points
Times Of IndiaView: Will rich nations distort WTO?
The WTO ministerial conference in Abu Dhabi has sparked discussions on reforms to agriculture and fisheries subsidies. Developed countries aim to reshape the institution to favor their interests, impacting dispute resolution, decision-making, and negotiations. Developing countries must safeguard their interests and prevent the dominance of plurilateral agreements. Key Points
Economic TimesHope that countries will come to WTO meet with positive attitude like India: Piyush Goyal
India hopes for a positive outcome at the upcoming WTO meeting in Abu Dhabi, urging other countries to listen to the concerns of developing nations. Commerce Minister Piyush Goyal highlighted the WTO's role in setting trade rules but also acknowledged significant problems within the organization. The meeting will discuss various issues including agriculture, fisheries subsidies, and e-commerce trade duties. Goyal emphasized the need to conclude ongoing WTO issues like dispute resolution and reforms. Key Points
Economic Times
FTA with EU will be the hardest nut to crack: Former Commerce Secretary Rajeev Kher
Former Commerce Secretary Rajeev Kher in an interview with ET said FTA negotiations prioritize preferential agreements over multilateralism due to the lack of commonality in issues among countries and the evolving role of non-trade issues. Kher added that friendshoring has emerged as a response to supply chain uncertainties caused by geopolitical tensions. Key Points
Economic TimesGoogle Pay signs pact with NPCI to expand UPI payments outside India
MoU will enable Indian travellers to make payments in other countries via Google Pay. Google India Digital Services and NPCI International Payments Ltd (NIPL)... Key Points
The Tribune IndiaOutbreaks of war must not distract us from our collective priorities
Climate action is among the world’s top imperatives. Let's review Bretton Woods governance and ask emerging countries to assume their fair share of responsibilities. Key Points
mintA Brilliant COP Agreement? It Depends Who You Ask
The agreement at COP28 satisfies no one. But it’s probably the best that countries could have hoped for. Key Points
WIREDHumanity's progress may be in peril as climate change sweeps in
While progress has been made over the past 250 years, recent events suggest a reversal of fortune. Climate change poses the biggest threat to continued progress, and political arrangements have undergone profound changes. Key Points
mint
A Brilliant COP Agreement? It Depends Who You Ask
The agreement at COP28 satisfies no-one. But it’s probably the best that countries could have hoped for. Key Points
WIREDNot all emitters are equal. Top 10% in US, Canada, EU emit 2-8 times more than India's richest
Sustainable lifestyles are no longer a mere option. They must become a crucial pillar of climate action — the emissions math shows why. Key Points
ThePrintIndia to extend its global presence on pharmaceutical market with BRICS plus membership
The VIII International Conference on Antimonopoly Policy at Moscow's Skolkovo Innovation Center focused on enforcing competition laws in the pharmaceutical market. Representatives from Indian antitrust authorities expressed intent to support competition laws enforcement in information disclosure and patent regulation against global pharmaceutical monopolies. Key Points
Economic TimesWhy I’m (Cautiously) Optimistic About COP28
In a year of record heat waves and rising global emissions, it would be easy to write COP28 off before it even starts. But that would be a mistake. Key Points
WIREDWhat is Loss & Damage Fund and what its adoption at COP28 means for low and middle-income countries
The fund will help these countries cope with, recover from losses caused by climate change. India, as one of UN’s ‘developing’ nations, has expressed support for fund's operationalisation. Key Points
ThePrint
Engineer held in Prague, nurse in Israel — CBI repatriated 49 fugitives in 2022-23, highest in 18 yrs
Data on fugitives shows many more were brought back from Middle East. This year's tally marks increase of 340% from that of 2017, when CBI intensified efforts to repatriate fugitives. Key Points
ThePrintWhy I’m (Cautiously) Optimistic About COP28
In a year of record heat waves and rising global emissions, it would be easy to write COP28 off before it even starts. But that would be a mistake. Key Points
WIREDWorld's population has passed 8 billion: US Census Bureau
The bureau estimates global population exceeded the threshold on September 26. The human species has topped 8 billion, with longer lifespans offsetting fewer births, but world population growth continues a long-term trend of slowing down, the US Census Bureau said Thursday. Key Points
The Tribune IndiaChina owed more than $1 trillion in Belt and Road debt: report
China is owed more than a trillion dollars through its Belt and Road project, making it the biggest debt collector in the world, a report said this week, with an estimated 80 percent of the loans supporting countries in financial distress. AidData, it added, estimates that 80 percent of China's overseas lending portfolio in the developing world is currently supporting countries in financial distress . Key Points
Economic TimesIndia leads in acquiring foreign citizenship, remains top country of origin for new migrants. Here's where
Despite diplomatic tensions, India remains at the forefront of acquiring foreign citizenship, with Canada experiencing a substantial increase. According to the recent OECD report, Indians constitute the largest national group acquiring citizenship in affluent countries. Canada recorded a staggering 174% jump in granting citizenship between 2021 and 2022. Key Points
Economic Times
countries like India need policies based on reliable data for sustainable growth: World Bank's Gill
Middle-income countries like India need reliable data to formulate policies for sustainable growth and join the league of high-income nations in the next few decades, according to World Bank chief economist Indermit Gill. He emphasized the need for middle-income countries to address deficits in their mid-sized firms to achieve higher-income status. Gill noted that only 31 countries have achieved high-income status since 1990. India aims to become a developed nation by 2047. Key Points
Economic TimesNvidia may be forced to shift out of some countries after new US export curbs
Nvidia (NVDA.O) said it may be forced to move some business operations out of countries that are in the purview of U.S. export curbs after the Biden administration on Tuesday expanded its restrictions on export of certain high-end technology. Key Points
ReutersEU to push for COP28 deal on phasing out fossil fuels
By Kate Abnett BRUSSELS (Reuters) -EU countries' climate ministers on Monday approved the bloc's negotiating position for this year's U.N. COP28 climate summit, agreeing to push for a world-first deal Key Points
ThePrintIsrael-Hamas war may singe billion-dollar pharma exports
“Indias exports amount to a billion dollars per year in these countries,” one of the experts said, asking not to be named. He said a protracted Israeli-Palestinian war would impact flight services to these countries and subsequently hit pharma exports from India. Key Points
Economic TimesUS should link China's power in IMF to support for debt relief- former US official
The U.S. should demand that China support debt restructuring for struggling poor and middle-income countries as a condition of changes to the International Monetary Fund's shareholding formula, a former senior U.S. Treasury development expert said on Wednesday. Key Points
Reuters/cloudfront-us-east-2.images.arcpublishing.com/reuters/QY32QEPJIRL2XFBP5ZHV6NL5SU.jpg)
Main changes to EU set-up needed for acceptance of new members
European Union leaders will discuss how to reform the 27-nation bloc to accept new members at a summit in Granada on Oct. 5-6, launching a long process to make the EU ready for enlargement by a tentative deadline of 2030. Key Points
Reuters