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CEA Nageswaran cites East Asia, says protection must be tied to productivity and global competitiveness
Chief Economic Advisor V Anantha Nageswaran highlighted that East Asian economies like China, South Korea, and Vietnam succeeded by offering conditional government support to domestic industries. This support was contingent on demonstrable performance, productivity, and international competitiveness, with aid withdrawn if these metrics weren't met. Nageswaran emphasized this 'protection for performance' as a key lesson for India's industrial policy today.
Electronics, pharma and engineering goods lead India's FTA dividend as export engine shifts gears
India's electronics sector is poised for significant growth, potentially becoming a manufacturing and export powerhouse. Free Trade Agreements are expected to boost this sector, alongside Engineering & Machinery and Pharmaceuticals. While some sectors face challenges, the overall outlook for India's export strategy is positive, driven by global trade integration and strategic policy shifts.
Ebola anxiety puts a chill on Indian travellers' hot Africa summer plans
Indian travellers are rethinking African holidays due to Ebola fears. Travel bookings for East and Central Africa are declining. Many are postponing trips or seeking alternative destinations. Travel insurance inquiries have surged. However, some regions like South Africa remain popular. Southeast Asia is seeing increased demand as travellers seek safer options.
India's productivity gap with China widens despite strong GDP growth; manufacturing leap still missing: Report
India's labour productivity gap with China has widened significantly since 2000, despite strong economic growth. The country has yet to achieve an industry-led productivity transformation seen in peers like China and South Korea. Structural constraints, economic disruptions, and the pandemic have hampered progress, with a need for deeper reforms beyond current initiatives.
Quote of the day by Muhammad Ali: 'Hating people because of their color is wrong. And it doesn't matter which...' - inspiring life lesson on equality, respect, human dignity, embracing humanity and why we must overcome racism and prejudice by greatest heavyweight boxer
Quote of the day by Muhammad Ali: Legendary boxer Muhammad Ali's powerful words highlight that hating anyone for their skin color is wrong. He stressed judging individuals by their character and actions, not their appearance. Ali's stance against prejudice remains vital today.
Vietnam’s Vingroup-backed Green SM to expand India’s office space presence with Urban Vault
Green SM, Vietnam's electric ride-hailing service, is expanding its Indian operations. The company has partnered with Urban Vault for flexible workspaces. Green SM has leased 500 seats in Gurugram and plans to take 1,000 more in Noida and other cities. This collaboration supports Green SM's launch and growth across India, aiming to promote sustainable urban mobility.
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ET Alpha Wealth Summit | We are in Sankat Kaal, and in this Sagar Manthan, our job is to look for the next generation of winners: Saurabh Mukherjea
India's economic future lies with manufacturing exporters, not consumer companies. Saurabh Mukherjea predicts this shift will drive earnings growth. Artificial intelligence is reshaping jobs, impacting the middle class. A weaker rupee will benefit goods producers. Gig work and smaller cities are gaining prominence. Well-managed companies remain strong investments. The era of cheap money is over.
Vietnamese proverb of the day: 'The tree wishes for calm, but...' Life lessons on staying strong when life refuses to get easier
Vietnamese proverb of the day: Life presents constant challenges, much like a tree facing an unceasing wind. The Vietnamese proverb "The tree wishes for calm, but the wind will not stop" teaches acceptance of uncontrollable circumstances. It highlights that strength develops by facing difficulties, not avoiding them. Individuals learn to move forward despite uncertainty, focusing on their reactions to challenges.
Philip Morris India calls for stronger enforcement and collaboration to disrupt illicit tobacco ecosystem
As per the Tobacco Institute of India (TII), in India, illicit cigarettes represent nearly one-fourth of the domestic market, with estimated losses of Rs. 23,000 crores per annum.
‘You’re Indian? How are you so nice?’ Indian woman recalls Thai locals’ reactions
An Indian content creator's recent trip to Thailand revealed that locals were surprised by her polite behaviour. She observed that some Indian tourists have left a negative impression through actions like littering and disrespecting customs. This has led to locals showing unexpected hospitality towards her. The creator urged fellow travellers to represent India positively abroad.
Urban Vault sub-leases 16K sq ft office space in Gurugram to electric ride-hailing firm Green SM
Urban Vault has successfully subleased a generous 16,000 square feet of prime office space in Gurugram to Green SM, an innovative electric ride-hailing service backed by Vingroup of Vietnam. This exciting deal marks Green SM's inaugural establishment in India, as Urban Vault is committed to fostering their growth within the local market.
India advocates for rules-based order, diplomacy at ASEAN Regional Forum to tackle geopolitical challenges
India highlighted the importance of the ASEAN Regional Forum (ARF) and backed dialogue to tackle geopolitical challenges at a senior officials' meeting in Manila. The discussions focused on regional security and maintaining a rules-based order in the Indo-Pacific. The ARF comprises 27 members, including India and the US.
Harsh Goenka shares 'lovely exception' amid debate over Indian tourists abroad, video shows people dancing to a Bengali song at Van Gogh Museum
Indians dancing abroad: A video from the Van Gogh Museum showcasing international visitors dancing to a Bengali folk song offers a positive contrast to recent controversies surrounding Indian tourists' behavior abroad. This moment of cultural exchange, where music united strangers, highlights a different kind of viral travel experience, emphasizing happiness and togetherness over inconvenience.
Defence Minister Rajnath Singh to review CGP at Air Force Academy on June 13
Defence Minister Rajnath Singh will review the Combined Graduation Parade at the Air Force Academy in Dundigal on June 13. This event marks the successful completion of training for flight cadets. The ceremony will see the commissioning of the first batch of women cadets from the National Defence Academy.
Kuwait restricts domestic worker recruitment to 10 countries, bans 27 others
Kuwait has restricted domestic worker recruitment to 10 approved countries, prohibiting hiring from 27 others under new Interior Ministry regulations. These updated rules aim to enhance oversight of the domestic labor sector, with recruitment procedures to be managed through the country's governorates. The decision reflects Kuwait's ongoing efforts to regulate and strengthen monitoring within the domestic worker recruitment industry.
US working to release energy reserves, boost sales of gas to ASEAN
The United States is taking significant steps to elevate its role in the energy landscape of ASEAN nations by releasing energy reserves and boosting gas sales. This initiative not only aims to support these nations in diversifying their energy supplies but also seeks to strengthen their long-term energy stability.
Finalising a deal for Brahmos missiles with Indonesia will top the agenda of PM Modi's Jakarta trip
Prime Minister Narendra Modi is expected to focus on concluding a deal to supply BrahMos missile missiles to Indonesia during his Jakarta visit in July. If signed, Indonesia would become the third Southeast Asian buyer of the missile system after Philippines and Vietnam.
'Last year we exported Rs 35,000 crore components to China': Ashwini Vaishnaw
India's electronics manufacturing is on the rise. Last year, components worth 35,000 crore rupees were exported to China. Around 250 new component manufacturing factories are expected in the next two to three years. This expansion is creating 25 lakh quality jobs. India is moving up the value chain, designing and manufacturing complex products.
India, US trade pact can be finalised after conclusion of Sec 301 investigations: Official
India and the US are nearing the completion of their interim trade agreement's first phase. This crucial step hinges on the conclusion of America's Section 301 investigations. Officials indicate the pact could be finalized by mid-July. Discussions are ongoing, with a high-level US team expected to visit India soon. This development is significant for bilateral trade relations.
On This Day in History, June 8: Porsche is born, Ghostbusters release, Siam renamed Thailand, Orwell's Nineteen Eighty-Four published, NFL merger announced, Robert F. Kennedy laid to rest and other major events
On This Day in History, June 8, the world witnessed events that shaped politics, warfare, literature and culture. The Viking raid on Lindisfarne, the proposal of the US Bill of Rights, the publication of George Orwell's Nineteen Eighty-Four, the creation of Porsche's first vehicle, the NFL-AFL merger announcement and Robert F. Kennedy's burial all form part of the date's rich historical legacy.
Vietnam rice prices rise on El Nino concerns; Bangladesh rates stay high amid heatwave
Bangladesh is also seeing high prices as a heatwave impacts crops and rains damage existing supplies. India's prices remain steady with good availability. Thailand's prices are firm, influenced by animal feed costs. Markets await future crop yields.
Summer travel plans take no break: Domestic demand remains strong despite rising fuel costs and airfares, fewer flights
Indians are not cancelling summer holidays despite higher costs and fewer flights. Many are choosing domestic trips or nearby international destinations. Travel to Europe and the US is down. Short-haul destinations like Vietnam and Sri Lanka are popular. Bus and train travel is increasing. Hotels report strong demand.
Vietnam to introduce pre-arrival health declaration requirement from July 1
Vietnam will implement a new health declaration rule for all international travellers starting July 1, 2026. This measure aims to track infectious disease threats. The Ministry of Health will determine specific diseases and enforcement dates based on global trends. A pilot program is already underway at Tan Son Nhat International Airport in Ho Chi Minh City.
Trump's China moves can open up a vast market for India
India is emerging as a significant defence supplier in Southeast Asia, with Vietnam becoming the second buyer of the BrahMos missile after the Philippines. Indonesia is reportedly close to a deal, while Malaysia and Thailand have shown interest, potentially expanding India's defence footprint across the South China Sea region.
Indian steelmakers grapple with resurgence of cheap Chinese imports
Chinese steel exports to India surged in April, reaching a two-year peak. This influx of cheaper steel, including hot-rolled coils and stainless steel, worries domestic producers. Some imports are reportedly routed through Vietnam. India has become a net importer of steel, contrasting with previous periods. Rising demand from infrastructure and automotive sectors fuels this trend.
Vietnam BrahMos deal already signed, Indonesia pact in final stages: Defence Secretary RK Singh
India's Defence Secretary Rajesh Kumar Singh revealed BrahMos missile deals with Vietnam and Indonesia are progressing. Vietnam's deal is reportedly signed, while Indonesia's is in final stages. India is committed to sharing advanced defence technology with trusted ASEAN partners. This move strengthens regional security and India's position as a defence manufacturing hub.
Trump administration targets Vietnam's IP enforcement in new trade investigation
America has launched a trade probe into Vietnam's handling of intellectual property. This move could lead to new tariffs. Vietnam has been flagged for failing to address long-standing concerns. While Vietnam has made some progress, infringement continues. Enforcement challenges persist, with counterfeit goods widely available. This investigation follows previous trade actions and ongoing negotiations between the two nations.
Shangri-La Dialogue opens with China and doubts about US priorities topping concerns
Asia's top defense summit convenes amid rising concerns over China's military might and assertiveness. Leaders will discuss America's Indo-Pacific strategy and regional stability. The ongoing conflicts in Ukraine and the Middle East also feature prominently. Vietnam's leader opens the conference, followed by the US Defense Secretary. China's delegation is expected to present its views later.
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