Fueled by record import bills due to global high fuel and commodities prices, the trade deficit is expected to touch $45 billion this year by June, surpassing the earlier record of $37.7 billion in FY18
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 But the laws of physics, engineering and economics have not been repealed.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.
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India’s Russian oil purchases minuscule; energy payments not under sanctions, clarifies US; no preaching to India, says Germany
Given India’s pivotal role in the Biden administration’s Indo-Pacific strategy and its attempts to curtail China’s influence, Washington has generally been supportive of India despite its neutrality on the Russian invasion of Ukraine and its purchases from Russia
India, Australia sign trade pact; Modi calls it a 'watershed moment'
Terming the signing of the pact as another milestone in the growing relationship between India and Australia, Morrison said the agreement further develops on the promise of the burgeoning relationship between the two Indo-Pacific countries that are members of Quad
World Bank approves $250 million for Bangladesh to support post-pandemic growth
“Since 2020, the World Bank has provided over $3 billion to Bangladesh to support emergency response, vaccination, and other Covid-19 recovery efforts,” Mercy Tembon, World Bank country director for Bangladesh and Bhutan, was quoted as saying by Dhaka Tribune
India bags power projects in northern Sri Lanka earlier awarded to Chinese firm
India was quick to offer grants on the condition that projects would be developed by Indian firms—an offer Colombo eventually accepted
Amid dollar crunch, Sri Lanka mulls closing down some missions abroad
In February, the country’s foreign exchange reserves dropped to $2.31 billion, with the authorities struggling to pay for the imports of essentials like fuel, food, and medicine
Indian edtech firm BYJU'S named sponsor of the 2022 Qatar World Cup
The Bengaluru-based firm, which offers online education catering to all age groups, also sponsors the Indian cricket team and said the deal was its first major foray into soccer
After India's $1 bn credit line, China considering Colombo’s request for $2.5 bn assistance in economic crisis
In the last few days, at least three people have reportedly died while standing in these long queues due to exhaustion; another man was killed after a brawl over fuel, according to a report by Daily Mirror
Bangladesh achieves 100 percent electrification, announces Prime Minister Sheikh Hasina
Bangladesh achieved the enviable target of electrifying every house in the country, Prime Minister Sheikh Hasina announced on Monday, almost 13 years after the government launched an ambitious rural electrification program
Ukraine war unlikely to impact Indian economy in a big way
Given the meager oil dependency on Russia and India’s past experience to tackle global oil price shocks, the Russia-Ukraine conflict is unlikely to cause any major impact on the economy, writes S. Majumder for South Asia Monitor
Ten million to get subsidized food in Bangladesh amid skyrocketing inflammation
Over ten million poor people in Bangladesh will receive subsidized food as the government is all set to implement an ambitious scheme aiming to provide relief to poor people being affected by skyrocketing commodities prices
Sri Lanka’s fuel crisis likely to ease as India extends $1 billion line of credit; IMF says exploring all options
Sri Lanka’s crippling energy crisis is expected to ease in the coming days as India extended a $1 billion line of credit, bringing total assistance to Colombo around $2.4 billion since January this year
India needs to expand trade with neighbours: Home Minister
India's Home Minister Amit Shah on Thursday said the country needed to expand trade with the neighbouring countries as in the next ten years it would be among the top manufacturing countries. He, however, did not specify the countries
Sri Lanka to work with IMF, says President Gotabaya Rajapaksa; asks people to have faith in his actions amid economic hardship
Sri Lanka will seek support from the International Monetary Fund (IMF), President Gotabaya Rajapaksa announced in a rare speech on Wednesday, where he acknowledged, for the first time, “sufferings” and “difficulties” faced by people as the island country faces one of its worst economic crises
'India's oil purchases from Russia won't violate US sanctions'; media reports talk of 'deep discount' in Russian sales
Accounting for under 3 per cent, Russia is not a major supplier of oil to India, which gets most of it from the Middle East, while the US is also emerging as an important source for energy products
