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The Dollar Business Bureau President Pranab Mukherjee, on Thursday, stated that India and China are set to play a “significant and constructive” role in the 21st century. Addressing a crowd of Vice Chancellors and heads of higher education institutions of the two countries, at Peking University, in Beijing, the President reiterated that India is one of the brightly placed global economies, and efforts are being made to stimulate the country’s future economic growth at a much better pace. Mukherjee witnessed the signing of 10 MoUs for cooperation between the institutions of India and China, where he made a special emphasis on India’s renewed thrust on research and innovation. He mentioned that significant investments are being made on upgradation of technology. “While R&D expenditure as ...

The Dollar Business India is on an upward trajectory and will be the world’s fastest growing economy by 2017. This was the forecast report, released by the United Nations. With the momentum gained by the Indian economy, the country is expected to grow at 7.3% in 2016 and further grow at 7.5% in 2017. The forecasts are slightly up from the estimated growth of 7.2% in 2015. While stating that South Asia will be the fastest growing region in the world by 2017, the World Economic Situation and Prospects of 2016-2017 report added that India will retain its number as the fastest growing economy for some time. The signs are all there. The macro-economic activities in India, backed by declining prices of food, metals ...

The Dollar Business Bureau Mahindra & Mahindra (M&M), the world’s largest tractors manufacturer became the first Indian company to join the EP100 campaign. This is a campaign led by The Climate Group, an international non-profit group, that will work together with one of the world’s most powerful and influential business companies with the aim to double energy productivity and maximize economic output. Prominent figures present during the momentous signing include François Hollande - French President, Ban Ki-moon – UN Secretary of General, Leonardo DiCaprio – Messenger of Peace, and Mogens Lykketoft - President of UNGA. The aim of the EP100 campaign is to encourage companies to use the energy efficiently, as it is estimated that by following this campaign, the world can ...

Source: PTI India and Mozambique on Wednesday decided to ramp up economic engagement, particularly in the energy sector with Prime Minister Narendra Modi saying the African nation can be a "large source" of coal and natural gas to drive the growth of Indian economy. During his wide-ranging talks with President Filipe Nyusi, Modi hoped that Mozambique, with its estimated 180 trillion cubic feet of off-shore gas reserves, would provide an "encouraging environment" for Indian investments in various key areas including hydrocarbons, minerals and infrastructure. Both sides inked an MoU on Cooperation in the field of renewable energy. The two leaders deliberated on a range of issues including cooperation in defence, maritime security in the Indian Ocean region, agriculture and ocean economy. ...

The Dollar Business Bureau The Government of India, on Tuesday, gave its approval for passage of the ‘Inter-Governmental Agreement on Dry Ports of International Importance’, for signature at the United Nations (UN) Headquarters in New York. The decision taken by the Union Cabinet chaired by the Prime Minister, Narendra Modi, is a follow up of the UN resolution for the development of the dry ports in Asia and the Pacific regions, says an official release. The agreement, under the Resolution of the United Nations Economic and Social Commission for Asia and the Pacific (UNESCAP), promotes international recognition for dry ports in the above-said regions. The agreement is also expected to facilitate investments for infrastructure development of dry ports. By ...

The Dollar Business Bureau | @TheDollarBiz Over 80% of LLDCs are in Africa and Asia (Pic. Source - UN)   The World Trade Organisation (WTO) has urged members to adopt the TFA to help Landlocked Developing Countries (LLDCs) benefit from the multilateral trading system. Speaking at the second UN conference on LLDCs’ issues in Vienna, yesterday, Roberto Azevêdo, Director-General WTO, said that the world today has the transport and communications to eliminate distance as a barrier to economic growth, but millions still live in poverty due to lack of resources and the development benefits that trade and foreign direct investment can bring. According to the UN, there are about 32 LLDCs in the world (16 in Africa, 10 in Asia, ...

The Dollar Business Bureau | @TheDollarBiz World Bank Group President Jim Yong Kim speaking at Howard University in Washington DC on the need to reduce global inequality in October 2014 (Pic. source - World Bank)   The World Banks has said that adoption of the Trade Facilitation Agreement (TFA) by members of the World Trade Organisation (WTO) will help reduce poverty in several developing countries, particularly those in Africa. Eradication of poverty by 2030 is one of the objectives of the World Bank and it sees TFA as a crucial factor in this endeavour. Jim Yong Kim, President, World Bank Group, said yesterday, “Trade is a critical component to ending poverty and boosting shared prosperity and we are pleased to work ...

The Dollar Business Bureau | @TheDollarBiz UN Secretary General Ban Ki-moon, opening the 2014 WTO Public Forum on 1 October 2014 (Source - WTO)   Ban Ki-moon, Secretary General, United Nations (UN), has said that multilateral trading system is important for alleviating poverty and has urged countries to conclude the Doha Development Agenda which has Trade Facilitation at its core. Speaking at the WTO 2014 Public Forum on “Why trade matters to everyone”, Ban Ki-moon highlighted the importance of multilateral trading system in the economic growth of a country. He said, “Without trade, my country (South Korea) could not have risen from the rubble of war to become a developed nation. Without trade, China could not have achieved the impressive ...