Pranab Mukherjee on Sunday refused to add any fodder to the talk of him being the front-runner for the President's post, saying he was himself "in the dark" over the issue that has hogged headlines back home. The past week has witnessed intense speculation in India over who would occupy the Rashtrapati Bhavan next, with Mukherjee and the current Vice President Hamid Ansari being touted as the main contenders.
The Finance Minister said despite adverse international environment, India managed to maintain GDP growth rate of about 7 per cent in 2011-12.
With the rupee fast losing value against the US dollar, Finance Minister Pranab Mukherjee on Friday blamed volatility in global commodity prices for currency depreciation and said deteriorating balance of payment (BoP) situation in several Asian countries also put stress on currencies.
"India and Indonesia can do much more in the changing world," Sharma said at a reception hosted by the India-Indonesian Chamber of Commerce last night.
A day before the informal meeting of the WTO, India, China and South Africa on Friday said the developing countries are being asked to further open their markets without any reciprocity from the rich nations, as per the draft proposals for a multilateral agreement.
The meeting, convened by Switzerland, will take place on the sidelines of the annual World Economic Forum meeting.
When European debt and sovereign crisis is giving anxious moments to multi-national CEOs, India's HCL Technologies is bullish on the continental Europe, aiming to get one-third of its revenue from the region.
The Geneva-based World Economic Forum would be playing host to 1,400 from top 1,000 companies around the world, 30 heads of states or governments, renowned academicians, artists and the faith leaders, including head of the Chinmaya Mission in New Delhi.
Of late, Indian businessmen have been complaining about difficulties in obtaining German visas.
Planning Commission Deputy Chairman Montek Singh Ahluwalia on Monday expressed confidence that in the years to come India could emerge as the fastest growing economy in the world, beating China as the nation has yet to achieve its full growth potential.
The group has already announced plan to invest $50 billion in power, realty, auto, healthcare and oil and gas projects in India, whose appetite for infrastructure funds is pegged at about $500 billion over the next four-five years.
The RBI, in its third quarter monetary policy review, raised by 75 basis points (to 5.75 per cent) the mandatory deposits banks need to park with the apex bank to tame inflation. The move is likely to suck Rs 36,000 crore (Rs 360 billion) out from the system.
Lamy said the international trade body will continue to keep a close watch on protectionist measures that impede international free trade.
Infosys CEO Kris Gopalakrishnan has called for enhanced efforts to ensure adequate funds for the small and medium industries as the sector has a crucial role in creating jobs and promoting growth.
India's economic growth slipped to 6.7 per cent in '09, mainly on account of the impact of the global financial meltdown that started in the US in 2008.
Over 2,500 global leaders in business and politics arrived in this Swiss resort on Wednesday to put their minds together on how best to support the fragile recovery following the worst economic crisis since the 1930s.
The finance ministry has voiced the opinion that there was no need for the RBI to increase the key rates that could impact the banks lending rates.
In his opening remarks during the meeting, Wen said, "We want to have a healthy and steady relationship with India," while Prime Minister Singh congratulated Wen on the 60th anniversary of the establishment of the People's Republic of China.
India on Saturday offered to help south-east Asian nations in the management of natural disasters by sharing satellite data for the region and launching small satellites built by them. "We would be ready to share satellite data for management of natural disasters, launch small satellites and scientific instruments and payloads for experiments in remote sensing and communication for space agencies and academic institutions in ASEAN countries," PM Manmohan Singh said.
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