New Delhi, July 9 (IANS) India now hosts around half of the world’s Global Capability Centres (GCCs) and has emerged as the second-largest base for enterprise artificial intelligence (AI) talent globally, reflecting the country’s growing role in innovation, technology and high-value global business operations, Chief Economic Adviser (CEA) V. Anantha Nageswaran said on Thursday.Addressing the CII GCC Business Summit, Nageswaran said India’s GCC ecosystem has undergone a remarkable transformation …
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Mumbai, July 8 (IANS) Striking an aggressive tone on future economic growth, Chief Minister Devendra Fadnavis on Wednesday unveiled a historic capital expenditure blueprint for the Mumbai Metropolitan Region (MMR). Responding to the debate on a motion moved by treasury bench members under Rule 293 in the State Assembly, the Chief Minister announced that a massive Rs 12,26,871 crore ($147 billion) has been earmarked for infrastructure and development projects across the MMR and its decentralised …
New Delhi, July 7 (IANS) The manufacturing sector has helped curb a broader slowdown in economic momentum even as indicators weakened in April‑May, a report said on Tuesday.Manufacturing makes up nearly 20 per cent of GDP and has been remarkably resilient, led by exports and inventory build-up, the report from HSBC Global Investment Research said.This is because energy-market uncertainty prompted precautionary inventory build-up – a trend most visible in consumer goods. Meanwhile, lower US t…
Mumbai, July 4 (IANS) Chief Minister Devendra Fadnavis on Saturday said that Maharashtra had recognised the true essence of the cooperative movement nearly a century ago and empowered farmers through cooperative institutions. Even today, cooperation remains the most effective instrument of rural development. He said that the policy initiatives of the Central and State Governments have given fresh impetus to the cooperative sector, and cooperative institutions are playing a decisive role in ensur…
New Delhi, July 3 (IANS) Japan has emerged as the largest contributor to India’s Global Capability Centre (GCC) ecosystem in the Asia Pacific (APAC) region, with over 100 centres already established, a report showed on Friday.These centres are rapidly evolving into strategic hubs for engineering, digital transformation and product innovation, spanning areas such as AI, embedded systems, cloud, advanced analytics and digital manufacturing, according to the Deloitte India report.Japanese enterpr…
New Delhi, July 2 (IANS) The latest economic indicators released by the Union government continue to underline the resilience of the Indian economy despite global uncertainties. Strong GDP growth, expanding manufacturing and services activity, record vehicle sales, healthy GST collections and resilient exports indicate that domestic demand and investment remain robust.India’s economy grew by 7.7 per cent in FY 2025-26, reaffirming its position as the world’s fastest-growing major economy.Growth …
Moscow, July 2 (IANS) The Russian economy has completed 80 per cent of its adaptation to external shocks, Russian Deputy Prime Minister Alexander Novak has said. “When we talk about adaptation to external challenges, we arrive at that 80 per cent figure,” Novak said at the Bank of Russia Financial Congress.”When it comes to the progress we are making toward technological sovereignty and technological leadership, I believe we are only halfway there,” he said on Wednesday.The deputy PM highlighted…
Tashkent/Amman, July 2 (IANS) The World Bank (WB) has approved a support package worth 105 million US dollars for Uzbekistan to implement its “Transforming Public Education for Economic Growth” program, according to a press release from the bank.The financial package includes a 100 million dollar concessional credit from the International Development Association and a 5 million dollar grant from the International Finance Facility for Education, reports Xinhua news agency.According to WB data, sc…
New Delhi, July 1 (IANS) Pakistan’s slow growth is more than an economic challenge – it is the country’s foremost national security threat, and no amount of military strength, diplomacy, or managed stability can rescue a nation that is sliding deeper into poverty while its population keeps growing, according to an article in the Pakistani media. The security establishment’s greatest adversary is not India, Afghanistan, or terrorism, but Pakistan’s own slow economic decay. This is not about GDP; …
New Delhi, July 1 (IANS) Nearly two decades after former premier Wen Jiabao lamented that the Chinese economy was excessively dependent on export-led growth, the problem has become even worse, according to a new report.China’s efforts to rebalance its economy have been an absolute failure, states the article by economist Stephen S. Roach in Malaysia’s The Star news website. “The lack of meaningful consumer-led rebalancing implies increased reliance on these time-worn sources of economic ac…