Kristian Rouz — The Indian economy is facing mounting challenges, posing a political risk for Prime Minister Narendra Modi ahead of a national election, as imports rise, exports remain low, and higher tax costs put additional pressure on smaller private-sector companies. Modi finds himself under pressure for not having done enough to increase the nation's role in international trade over the past five years. According to a report from the Commerce Ministry, India's trade deficit rose to $14.73 bln last month, up from $13.08 in December. The nation's imports increased due to a rise in gold imports, while exports posted a modest expansion, contributing to the widening trade gap. For their part, India's small exporters — which contribute roughly 35 percent to the nation's overall exports — are facing rising fiscal risks after the disorderly launch of the … [Read more...] about India Faces Economic Woes Amid Rising Trade Deficits, Higher Tax Costs
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Bence Gaál Wednesday, February 6, 2019 The fifth annual Budapest Business Journal Expat CEO of the Year awards gala saw ABB Hungary’s country managing director Taira-Julia Lammi triumph, with Apollo Tyres Hungary head Kannan Prabhakar winning the HIPA Partnership award. 2018 Expat CEO winner Marc de Bastos Eckstein presents the 2019 award to Taira-Julia Lammi. All photos by Marianna Sárközy. The exclusive, invitation-only, black-tie gala dinner event held at the Corinthia Hotel Budapest on January 25, saw the creme de la creme of the country’s expat company heads and other special guests from investment, political and diplomatic sectors, such as Deputy Minister of Foreign Affairs and Trade Levente Magyar, and Hungarian Investment Promotion Agency head Róbert Ésik. This year, no less than five ambassadors also attended, including U.S. Ambassador to Hungary David B. Cornstein, and German Ambassador Volkmar Wenze, alongside the diplomatic … [Read more...] about Lammi Wins Fifth BBJ Expat CEO of the Year Award
February 05, 2019 05:47 PM When the sprawling "Patriot" theme park was inaugurated two years ago, the Russian Ministry of Defense invited thousands of visitors to re-enact the 1945 Battle of Berlin around a life-size model of the Reichstag, Germany's parliament building, that it had built. An old German Messerschmitt airplane flew overhead, and loudspeakers blared Russian military marches and Wagner's "Ride of the Valkyries." Visitors to "Patriot" get to play soldier for a day: They can spoon army rations in partisan hideouts, gander at the latest war booty from Syria, admire historic tanks and even shoot Kalashnikovs. More recently, the sprawling, snowy grounds were the scene of another performance by Russia's military leadership. The Defense Ministry invited foreign military attaches and correspondents to bear witness as the country demonstrated its innocence to the world. Guests were ushered into an empty exhibition hall where, just to be safe, there was no mobile phone … [Read more...] about Arms Race: Will Europe Be Victim of Nuclear Power Plays?
New Delhi (Sputnik): The first ever field exercise between the armed forces of India and African countries have been scheduled for March this year. Twelve African nations, including Nigeria, Egypt, Ghana, Kenya, South Africa, Senegal, Sudan, Tanzania, Zambia, Namibia, Mozambique, and Uganda will join in the 10-day exercise to be hosted in the Indian city of Pune from March 18. Announcing the first ever such exercise, the Indian Army on Thursday said that Indian Africa Field Training Exercise will be conducted at Aundh Military Station & College of Military Engineering from 18-27 March 2019. Indian Africa Field Training Exercise #IAFTX2019 will be conducted at Aundh Military Station & College of Military Engineering from 18-27 Mar 2019. With more than a dozen African countries participating, it aims at #Synergizing humanitarian action & joint #Peace operations. pic.twitter.com/lmrRNSHpkB … [Read more...] about India Follows Chinese Footsteps in Africa With First Multi-Nation Military Drill
India is going to come out on top in 2019-2020 in terms of economic growth amid the global slowdown, according to the International Monetary Fund's 2019 World Economic Outlook. Sputnik reached out to Amrita Dhillon, a foreign affairs analyst and founding editor of New Delhi-based Kootneeti magazine, asking her to comment on the IMF forecasts published on the eve of the World Economic Forum in Davos, Switzerland. © REUTERS / Dmitri Lovetsky/PoolPowerful Duet: New Delhi, Moscow May Balance US-China Spat – Indian JournoThe Indian journalist pointed out that India had surpassed China in terms of global output until 1984. However, in subsequent decades the People's Republic's economy has grown dramatically, largely due to Deng Xiaoping's reforms, which kicked off in 1978. Between 1979 and 2017, the Chinese economy had been increasing by 9.5 percent annually and now it is … [Read more...] about Gold, Rupee and Markets: Journo Explains India-China Economic Competition