IMF’s projection for India is slightly higher than the World Bank’s 8 per cent earlier this month. The series of World Bank reports also had India as the fastest-growing major economy, with China following it at 5 per cent
South Asian Talent Almost Everywhere; Missing is an AI Invention from the Region the World Depends on
The ambition exists across the region. Young Indian companies are building rocket engines and computer chips, products India has long bought from abroad. Pakistan sent a delegation to Silicon Valley to show what its technology industry can do
Where Is India's Apple? A Nation's Strategic Independence is Directly Proportional to its Economic Independence
A country can only be as independent in its diplomacy as it is in its economy. A nation that imports its phones, its chips and much of its energy, will always have less room to manoeuvre than one that makes what the world needs.
China's Open-Source AI Initiative and the Limits of BRICS Consensus
The difference between Xi's New Delhi proposal and the language of the declaration illustrates the distinction between China's ambitions for AI cooperation and the level of agreement achieved among BRICS members. The declaration did not reject China's AI diplomacy; it simply did not explicitly endorse the proposed open-source community.
AI on the Battlefield: The Mirage of Unlimited Capability
The AI revolution may indeed change warfare. But the laws of physics, engineering and economics have not been repealed. AI may be extraordinarily powerful in the data centre. The real challenge is carrying that capability to the battlefield.
More on AI, Tech and Innovation
Sobering lessons for the region from Sri Lanka and Pakistan
Unlike India or also Bangladesh, Pakistan has suffered economic mismanagement; excessive dependence on foreign aid, whether from the IMF or China is also a factor
Neighborhood to provide ‘greatest economic opportunities' to our industry, says Indian Foreign Secretary Shringla
“Bangladesh and Nepal are now among the top ten export destinations for India with our total exports to these two countries amounting to over $16 billion,” Shringla said, terming them as “two success stories.”
Colombo Stock Exchange closed for five days after Sri Lanka defaults on loans
Since 2020, after the pandemic began, Sri Lanka’s central bank has printed over two trillion rupees, in a move to keep interest rates low. This, however, resulted in a balance of payment crisis and also drove up inflation and stock prices (asset price inflation).
After MCC, US to provide $659 million to Nepal under USAID amid growing rivalry with China
While the US’ renewed interest in Nepal, a traditional battlefield of influence between India and China, is evident from the MCC agreement and increased bilateral engagements and assistance offers, Nepal may struggle to satisfy the security concerns of a newly assertive China
Amid depleting forex, Nepal urges non-resident Nepalese to open dollar accounts
From the $800 million in surplus in February last year, the balance of payment recorded a deficit of $2.03 billion in the first seven months of this fiscal [Between July to February].
South Asia to see slower growth: Fallout of Ukraine war, pandemic
Another challenge the region faces is the disproportionate economic impact the pandemic has had on women. The report includes in-depth analysis of gender disparities in the region and their link with deeply rooted social norms
Sri Lanka: World Bank approves $10 mn emergency grant for essential drugs; $500 mn more in line
On Sunday the Sri Lanka Medical Association (SLMA) said that all hospitals in the country no longer had access to imported medical tools and vital drugs. In a letter sent to President Gotabaya Rajapaksa, the association said, “We are made to make very difficult choices. We have to decide who gets treatment and who will not.”
India, US discuss food security, bringing more wheat and sugar to global markets
Blinken said that Modi and Biden who met before their 2+2 meeting “had a very warm and productive conversation today in their virtual summit” and covered a lot of ground, including Covid-19, climate change, strengthening the global economy, the free and open Indo-Pacific
Women entrepreneurs push for revival of women-led businesses in Afghanistan
By 2019, a total of 17,369 businesses were owned by women—most of them were less than five years old then—and created around 129,000 jobs in the country, according to a study conducted by Afghanistan’s Women Chamber of Commerce and Industry
Can wheat be a new area of US-India cooperation to safeguard global food security?
Exports from the world’s largest wheat exporter Russia and the fifth-largest exporter Ukraine have been disrupted by the invasion. The two countries account for about 30 per cent of the world’s export of wheat
India to boost gaming and visual effects sectors; expects annual growth of 25-30 per cent
“The...sector in India has the potential to become the torchbearer of ‘Create in India’ & ‘Brand India’,” the statement by the Ministry of Information and Broadcasting said
Nepal restricts imports of luxury goods to check depleting foreign exchange reserves
From the $800 million in surplus, the balance of payment recorded a deficit of $2.03 billion in the same period this year
Sri Lanka may exhaust $500 million line of credit from India for fuel purchase this month; Colombo seeks further assistance
The crisis has also rocked the country’s political leadership as they face nationwide protests seeking the resignation of President Gotabaya Rajapaksa—a demand the government has refused to entertain
India permits Nepal to export 325MW power in its energy market; major energy cooperation in the offing
Once known as a power-starved country, Nepal became a power surplus state last year during the winter months, with its production capacity touching 2000 MW after the commencement of the Upper Tamakoshi hydropower project (456MW)
