MULTILATERALISM
Piyush Goyal pitches India as safe investment haven amid global turmoil, highlights $85 trillion market access
Union Minister Piyush Goyal highlighted India's commitment to global investors through stable policies and fair laws. He emphasized that India has signed trade agreements benefitting nearly $70 trillion of global GDP, expanding market access for its goods and services. Goyal assured investors about intellectual property protection, underlining that technology is not appropriated. He noted India's reliability demonstrated during the COVID-19 pandemic by supplying essential goods to over 100 countries.
COP31: UN Chief Antonio Guterres warns climate crisis outpacing action
Antonio Guterres addressed world leaders at the climate talks in Antalya and highlighted urgent climate action needs. He stressed that emissions must be reduced, emphasizing the role of developed countries in supporting developing nations. Guterres outlined four essential pillars of a Climate Justice Compact during his keynote speech. He urged nations to transition from fossil fuels to renewable energy sources for sustainability.
COP31: Limiting 1.5°C overshoot, speeding up electrification emerge as top priorities
Limiting the duration and extent of a global temperature overshoot beyond the 1.5°C threshold and accelerating electrification have emerged as key priorities at COP31 in Antalya. The Turkiye-Australia leadership wants these issues included in the conference's negotiated cover decision, while also demonstrating that international cooperation on climate action remains effective.
No one should be left behind in efforts to tackle climate change: India at COP31
At the ongoing COP31 climate conference in Turkiye, India highlighted the urgent need for equity in climate action. The country reaffirmed its commitment to addressing adaptation needs, especially for the Global South. India called attention to the critical role of public finance from developed nations in supporting developing countries. Additionally, India's statement emphasized the importance of Article 9.1 of the Paris Agreement for financing.
G7 allies to assess impact of Trump's midterm setback at Paris talks
The diplomats signalled the Democrats' gains could narrow the White House's room for manoeuvre but warned against expecting a return to traditional US multilateralism while foreign policy remains very much under Trump's control.
Pakistan's external debt nearly doubled in decade ending 2025: World Bank
Pakistan's external debt is projected to rise to USD 135.1 billion by 2025, according to a World Bank report. Public and publicly guaranteed debt accounts for a significant portion, totaling USD 107.076 billion. China remains the largest creditor of Pakistan, holding USD 22.4 billion. The International Monetary Fund is expected to provide additional financial support for economic stability.
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Quad Navies launch Malabar 2026 multi-domain drills to strengthen Free and Open Indo-Pacific
The United States, India, Japan, and Australia have kicked off Exercise Malabar 2026. This joint naval drill is focused on boosting the operational synergy and maritime capabilities of the participating nations. Notably, the Indian Navy's INS Sahyadri has arrived in Japan for this collaboration, symbolizing a significant step in strengthening regional security efforts in the Indo-Pacific. Through multiple phases, the exercise seeks to deepen trust among the allied forces.
Developing countries' debt hit record $9.4 trillion in 2025: World Bank
Most of the increase was driven by private financing, with borrowing from private creditors and bond issuance by public enterprises rising nearly 35 percent, the Bank's annual International Debt Report showed.
IREDA seeks global funding partnerships to lower borrowing costs for green projects
IREDA is aiming to collaborate with global banks and investors for long-term green financing initiatives. Renewable energy developers in India face high borrowing costs compared to those in developed markets. The country requires significant investment to achieve its renewable energy capacity goals by 2030. Concerns regarding land acquisition and transmission infrastructure continue to pose challenges for developers. Disruptions in power generation can substantially impact project finances and repayment capabilities.
Trump's midterm setback may put India under pressure for quick trade deal on US terms: GTRI
Amid electoral challenges, US President Donald Trump is likely to ramp up pressure on India to seal a trade deal. This potential agreement would require India to decrease import tariffs on US goods while the US keeps its tariffs intact. Analysts caution that such an arrangement may breach WTO MFN principles, undermining India's trade credibility. Additionally, compromising energy security and development aspirations could have serious implications.
China's international criticism on Covid toughened its attitude: Foreign Secretary
Vikram Misri indicated that international condemnation impacted China's approach to the Covid-19 pandemic effectively. He noted that China perceived itself as being unfairly blamed for the outbreak. Misri explained how returning to China involved a strict 21-day quarantine during the pandemic period. The restrictions further complicated diplomatic relations, especially during the Galwan clash in 2020. China's response also affected global supply chains, creating challenges for various countries, including India.
Global criticism during COVID-19 hardened China's attitude towards world: Foreign Secretary Misri
Foreign Secretary Vikram Misri addressed the challenges faced by India during the COVID-19 pandemic. He noted that China felt stigmatised by the international community for the virus. Misri reflected on his experience as Ambassador during the India-China confrontation in Galwan Valley. He highlighted the importance of coordination in Operation Sindoor, which included multiple government agencies. Additionally, he expressed his connection to his Kashmiri Pandit heritage and community resilience.
COP17 adopts Yerevan Pathway to fast-track biodiversity priorities
"Over these two weeks, we have demonstrated that differences can be bridged, commitments can become decisions and cooperation can deliver," said Matevosyan. While countries agreed to intensify efforts to halt biodiversity loss and protect nature, contentious factors including the thorny issue of who pays for initiating steps to protect nature were addressed through compromises.
India-Brazil bilateral trade set to reach $20 bn with focus on critical minerals, AI, defence: Envoy
Brazil's Ambassador to India highlighted growing trade relations, expecting bilateral trade to reach USD 20 billion soon. The partnership encompasses critical sectors such as defence, energy, and pharmaceuticals, promoting economic engagement. Both nations aim to deepen cultural ties, celebrating the centenary of musician Antonio Carlos Jobim in 2027. Recent political visits strengthened commitments toward technological and economic cooperation in multilateral forums.
India lifted 496 million people out of poverty between 2011 and 2023, says World Bank
Between 2011 and 2023, India successfully elevated about 496 million people from poverty, showcasing a significant reduction in those living below the poverty threshold. A steep decline in extreme poverty reflects improved living conditions. However, income inequality lingers across different job sectors and regions. The World Bank forecasts ongoing reductions in poverty levels, but at a more gradual rate than before.
Pope Leo XIV has become the first pope in history to vote in a US general election
The Vatican confirmed Friday that the Chicago-born pontiff had submitted a mail-in ballot in Chicago ahead of the Nov. 3 midterm elections, citing his long-standing belief in civic participation.
China trade accord with Swiss bucks wider trend towards protectionism
Chinese President Xi Jinping and Swiss President Guy Parmelin are set to sign a significant trade deal. The accord offers Switzerland extensive market access to China, enhancing the trade relationship between the two nations. This agreement notably contrasts with increasing trade barriers established by the United States and the European Union. Swiss officials believe this deal will provide stability in a volatile global trade environment.
Biodiversity finance impasse clouds COP17 closing talks
Finance has become the main sticking point at COP17 in Armenia, with India, Brazil, China and other developing countries opposing efforts to widen the pool of nations contributing to biodiversity funding. They argue developed countries should first meet existing commitments, while the EU and others support bringing more countries into the funding base as negotiations remain deadlocked ahead of the summit’s close.
VETO streams Pakistan tri-series in India, raising questions over scope of MIB advisory
VETO, a streaming platform, is currently broadcasting a tri-series involving Pakistan, England, and Sri Lanka. The Indian Ministry of Information and Broadcasting issued an advisory regarding Pakistani-origin media content due to national security concerns. While the advisory includes various Pakistani content categories, it does not explicitly mention sports broadcasts. VETO asserts that the advisory does not apply to the ongoing cricket tournament as it is international.
IMF proposes China’s Min Liao as deputy managing director, Bo Li to exit in November
The International Monetary Fund has nominated Min Liao, China’s Vice Minister of Finance, for Deputy Managing Director. His appointment follows the term expiration of Bo Li, which ends on November 30, 2026. Liao has extensive experience in financial regulation and macroeconomic governance, contributing to global economic policy coordination. He has played significant roles in various financial institutions since beginning his career.
Singapore thrived on chokepoints. Now they’re a threat
Singapore faces challenges in maintaining its prosperity due to its dependence on larger neighboring countries for energy supplies. Recent tensions with Indonesia include energy supply cuts following Singapore's actions against companies linked to wildfires. The city-state's efforts to diversify energy sources through renewable projects are still limited and vulnerable to geopolitical pressures. Historical parallels to cities like Venice highlight the potential consequences of such dependencies in a changing global climate.
India rejects laws affecting national sovereignty; votes at UN against US embargo on Cuba
India expressed its strong support for a United Nations resolution that demands an end to the US embargo against Cuba. The resolution was endorsed by 130 nations, while 17 voted against it and 25 abstained. A diplomatic clash occurred during the proceedings as the Cuban Foreign Minister confronted the US Permanent Representative. Following the confrontation, the US expelled a Cuban diplomat for alleged misconduct during the meeting.
India needs $220 billion investment to achieve 500 GW clean energy target by 2030
India faces a significant challenge in attaining its renewable energy targets, necessitating an investment of about $220 billion between 2027 and 2030. This capital will aid in expanding energy storage solutions, transmission infrastructure, and manufacturing strength. Ahead of the Bharat Renewable Energy Summit & Expo, secretary Santosh Kumar Sarangi emphasized the urgency of these investments, which will foster public-private partnerships for sustainable energy solutions.
Cognizant signs five-year large deal with Europe's EBRD
While the financial terms were not disclosed, two people privy to the matter told ET that the deal was estimated to be in the range of $100-150 million, generating annual revenue of $26-40 million for Cognizant. “The deal is a new one,” one of them said.
Prevention CERT-Inly better than cure
India is responding to cybersecurity challenges posed by the recent eMudhra incident and PHP vulnerabilities. Government agencies are conducting audits and investigations to strengthen digital security. The country is experiencing heightened cybersecurity risks due to its digital transformation and existing framework gaps. There are also concerns about unutilized funds and a shortage of cybersecurity talent. A broader approach is needed for transformative improvements in managing cybersecurity effectively.
Income Tax Department nudges taxpayers holding undisclosed foreign properties
The Income Tax Department is encouraging taxpayers to declare undisclosed foreign assets through the FAST-DS initiative. A new e-filing portal feature allows taxpayers to view reported asset information from foreign jurisdictions. The Department plans outreach programs to assist corporate employers, educational institutions, and professional organizations. Eligible disclosures under the scheme require a fixed tax and penalty payment for regularization.
India must bolster tech, economic resilience: Dean Grandy, KPMG's global head for government and public sector
India is encouraged to boost its domestic technology capabilities and economic resilience to face geopolitical tensions. Strengthening self-sufficiency in artificial intelligence and infrastructure is essential for national interests and security. Collaborative partnerships with like-minded governments are important for shared insights and investment opportunities. Developing independent AI regulations will safeguard India's data and business environment effectively. Addressing the emerging challenges in AI will be crucial as India's capabilities expand.
Iran's top negotiator Ghalibaf cancels India visit for BRICS Parliamentary forum
Iranian Parliament Speaker Mohammad Bagher Ghalibaf has cancelled his attendance at the upcoming BRICS Parliamentary Forum. The Iranian Embassy in New Delhi cited unforeseen circumstances for his absence from the event. An Iranian parliamentary delegation will still participate in the two-day forum scheduled for late October. Ghalibaf's role in ongoing negotiations related to Iran's regional conflicts is significant.
Senior UAE diplomat Lana Nusseibeh enters race for UN chief
Lana Nusseibeh has announced her candidacy for the role of United Nations secretary-general. She aims to restore the organization as an effective diplomatic problem-solver in response to global challenges. Nusseibeh has garnered support from numerous countries during the recent UN General Assembly. Her experience includes leading UAE campaigns at the UN and dealing with complex geopolitical issues.
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