Weekly News 11 - 15 September 2023
11 September 2023 - (Economic Times) G20 endorses 'Goa Roadmap' and 'Travel for LiFE' program to revitalize the tourism sector
The G20 Leaders' Summit held in Delhi culminated in a resounding endorsement of the 'Goa Roadmap' and the 'Travel for LiFE' program, propelling India to the forefront of sustainable tourism initiatives.
The 'Goa Roadmap,' a flagship initiative of India's G20 Tourism Track, serves as a groundbreaking blueprint for global sustainable tourism. Aligned with the theme of India's G20 Presidency, it underscores the role of tourism in society, the economy, and environmental stewardship, read the press release.
12 September 2023 - (Economic Times) Not far when we will be one of the major defence producers: CDS General Anil Chauhan
Speaking at the North Tech Symposium in Jammu on Monday, Chief of Defence Staff (CDS) General Anil Chauhan said that the day is not far when India will emerge to be one of the major defence producers in the world. He highlighted the progress made in the 'Aatmanirbharta' (self-reliance) initiative and emphasized the potential for India to become a major equipment producer.
"G20 Summit has been successfully conducted. At the Summit venue and airport large number of anti-drone systems were deployed by the Indian Army, Indian Air Force and Indian Navy. Those systems have been picked up from operational places - air bases, borders - and then they were deployed. So, the armed forces were cognizant of this problem and they have procured this equipment in sufficient quantity to meet the immediate requirements," CDS General Anil Chauhan said.
13 September 2023 - (Economic Times) WTO flags trade concerns over proposed EU carbon border tax
The World Trade Organization (WTO) has raised concerns about unilateral environmental measures and trade restrictions. The WTO flagged the European Union's Carbon Border Adjustment Mechanism (CBAM) and the US Inflation Reduction Act as potential trade concerns. This comes before the implementation of the European Union's Carbon Border Adjustment Mechanism (CBAM) rules for transition from October 1.
In its World Trade Report 2023, the global trade body said some WTO members had raised concerns about the proposed CBAM, citing potential discriminatory impacts on their exports and higher compliance costs.
14 September 2023 - (Economic Times) 2024 onwards, expect a return to growth in IT; spending in IT services to be in double digits: DD Mishra, Gartner
DD Mishra, Sr Director Analyst, Gartner, says “We can see more mergers and acquisitions, more divestments, more changes in the operating model or the business models of the organisations. Some companies will perform, and some will perish, and this is going to shift the market. But spending on technology is going to grow, and it is going to be more and more relevant for businesses because the difference between the business and the technology is diminishing or it has diminished already.”
“Whether you are in a crisis or whether you are having a good time at this point in time, technology is going to be the way forward to take you forward. So that is where I see that the organisations will change in order to leverage IT. Those who cannot change will have to find out something else.”
15 September 2023 - (Economic Times)India in talks with 22 countries for bilateral trade in Rupee: FM Sitharaman
India is currently in discussions with around 22 countries for executing bilateral trade in Rupee, Finance Minister Nirmala Sitharaman said in a television interview on Friday. "About 22 countries are negotiating and approaching us to see if bilateral trade can be held (in rupees). It is also because many of... those countries are running short of dollars," Sitharaman told news channel NDTV during an interview.
India of late has taken a few measures to encourage the utilisation of the Indian rupee for executing international transactions. The South Asian country has established special rupee vostro accounts within domestic banks, thus facilitating the exchange of national currencies, through collaborations with banks from 22 different countries.
https://economictimes.indiatimes.com/industry/services/travel/g20-endorses-goa-roadmap-and-travel-for-life-program-to-revitalize-tourism-sector/articleshow/103573969.cms
https://economictimes.indiatimes.com/news/defence/not-far-when-we-will-be-one-of-major-defence-producers-cds-general-anil-chauhan/articleshow/103587093.cms
https://economictimes.indiatimes.com/news/economy/foreign-trade/wto-flags-trade-concerns-over-proposed-eu-carbon-border-tax/articleshow/103616093.cms
https://economictimes.indiatimes.com/markets/expert-view/2024-onwards-expect-return-to-growth-in-it-spending-in-it-services-to-be-in-double-digits-dd-mishra-gartner/articleshow/103656052.cms
https://economictimes.indiatimes.com/news/economy/policy/india-in-talks-with-22-countries-for-bilateral-trade-in-rupee-fm-sitharaman/articleshow/103682018.cms
