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☆ Indonesian Chamber of Commerce and Industry discusses what country needs to hit 8% GDP growth
▼ + stars: | 2024-10-28 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndonesian Chamber of Commerce and Industry discusses what country needs to hit 8% GDP growthAnindya Bakrie, chairman at the Indonesian Chamber of Commerce and Industry, says "we have to build trust in the investment community."

Persons: Bakrie Organizations: Indonesian, of Commerce, Industry, Indonesian Chamber of Commerce and Industry

☆ India to fabricate its first chip in two years as Nvidia, AMD and Micron pledge to expand to the country
▼ + stars: | 2024-10-01 | by ( Seema Mody | ) www.cnbc.com time to read: +3 min

Indian Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles Shri Piyush Goyal is talking to media on EU-India trade relations. India will fabricate its first chip in two years, Commerce Minister Piyush Goyal told CNBC during a one-on-one interview in New York. Nvidia , AMD , Micron are among the U.S. companies that have pledged to expand in the country. Goyal added that Indian behemoth Tata and other domestic companies are working to make India's semiconductor dream a reality. And according to Goyal, Indian customers are increasingly opting for the more expensive iPhones.

Persons: Piyush Goyal, chipmakers, Goyal, behemoth Tata, Narendra Modi, Apple, Warburg Pincus Organizations: of Commerce and Industry, Consumer Affairs, Food, Commerce, CNBC, Nvidia, AMD, Micron, behemoth, Taiwan Semiconductor Manufacturing Company, Samsung, U.S, Apple, BlackRock, KKR, Google, Microsoft Locations: India, New York, Silicon Valley, China, Goyal

☆ India wants to become a semiconductor powerhouse, but it can't do it on its own
▼ + stars: | 2024-09-26 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +7 min

Bhatnagar pointed to how Taiwan's Powerchip Semiconductor Manufacturing Corporation will help India's Tata Electronics to build the country's first 12-inch wafer fab in Gujarat. However, analysts said India first needs to learn the ropes before it can compete with the East Asian giant, especially since its semiconductor manufacturing industry is still at a very nascent stage. "India is far behind China in semiconductor manufacturing. Earlier in September, the U.S. Department of State announced it will partner with the India Semiconductor Mission and India's electronics and IT government body to improve the global semiconductor value chain. "We are encouraging [the] semiconductor industry in a big way.

Persons: Narendra Modi, Eri Ikeda, Trendforce, Bhatnagar, Rishi Bhatnagar, Ikeda, Cozying, Biden, Modi, Jensen Huang, Sundar Pichai, Huang, Thomas Caulfield, Lisa Su, Tarun Pathak, CNBC's Tanvir Gill, Goldman Sachs Organizations: Dixon Technologies, Bloomberg, Getty, India, Indian, CNBC, Department of Management Studies, Indian Institute of Technology, Semiconductor Manufacturing Corporation, Tata Electronics, Micron Technology, Devices, Tata Group, East, External, of Engineering, U.S . Department of State, India Semiconductor, Nvidia, Google, Hindustan Times, AMD, Counterpoint, Apple, Counterpoint Research Locations: Uttar Pradesh, India, Indian Institute of Technology Delhi, Taiwan, China, South Korea, U.S, Japan, Gujarat, American, China India, New York, New Delhi, Beijing

☆ Watch CNBC's full interview with India's Minister of Commerce and Industry Piyush Goyal
▼ + stars: | 2024-09-25 | by ( Tanvir Gill | ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailWatch CNBC's full interview with India's Minister of Commerce and Industry Piyush GoyalCNBC's Tanvir Gill spoke to Indian Commerce and Industry Minister Piyush Goyal in an exclusive interview. He explained why it was not in India's interest to be part of a free trade agreement with China, as well as the country's semiconductor ambitions.

Persons: Tanvir Gill, Piyush Goyal Organizations: India's, Commerce, Industry, Indian Commerce and Industry Locations: China

☆ India rules out joining RCEP, accuses China of non-transparent trade practices
▼ + stars: | 2024-09-23 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndia rules out joining RCEP, accuses China of non-transparent trade practicesIndian Commerce and Industry Minister Piyush Goyal said that it was not in India's interest to do a free trade agreement with China.

Persons: Piyush Goyal Organizations: RCEP, Indian Commerce and Industry Locations: China

☆ India rules out joining world’s largest trade deal, accuses China of 'very opaque' trade practices
▼ + stars: | 2024-09-23 | by ( Lee Ying Shan | In Ying-Shan-Lee | ) www.cnbc.com time to read: +2 min

Anadolu | Anadolu | Getty ImagesIndia's commerce minister rejected the idea of joining the Regional Comprehensive Economic Partnership, the world's largest trade deal, maintaining that it is not in the country's interest to be part of a free trade agreement with China. Negotiations for the RCEP started in 2013 and initially included India, which some members viewed as a counterbalance to China. However, in 2019, India chose not to join RCEP, citing unresolved "core interest" issues. Goyal noted that at that time, India already had a free trade agreement with ASEAN, Japan and Korea, as well as a bilateral trade with New Zealand worth $300 million. "It was not in our farmers' interest, RCEP did not reflect the aspirations of our small and micro medium industries and sector, and in some form, was nothing but a free trade agreement with China," he said.

Persons: Industry Piyush Goyal, CNBC's Tanvir Gill, Goyal, RCEP Organizations: Anadolu, Getty, Regional Comprehensive Economic, ASEAN, Commerce, Industry, —, Association of Southeast Asian Nations, RCEP, New Zealand, Trade, Semiconductor Locations: China, India, Asia, South Korea, Japan, Australia, New Zealand, Korea

☆ Indonesia's Kadin Chairman: 'Feasible' to reduce Chinese ownership of nickel projects in the country
▼ + stars: | 2024-09-18 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailIndonesia's Kadin Chairman: 'Feasible' to reduce Chinese ownership of nickel projects in the countrySpeaking at the sidelines of Milken's Asia Summit, Anindya Bakrie, CEO of Bakrie & Brothers and newly appointed chairman of the Indonesian Chamber of Commerce and Industry (Kadin), discusses the country's critical minerals industry and says that Indonesia has "all the potential" to export nickel to Western nations.

Persons: Anindya Bakrie Organizations: Milken's Asia, Bakrie, Brothers, Indonesian Chamber of Commerce and Industry Locations: Indonesia

☆ India 'clearly has a problem' finding new drivers for economic growth, JPMorgan's Jahangir Aziz says
▼ + stars: | 2024-07-24 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +2 min

Tim Graham | Getty ImagesIndia "clearly has a problem" figuring out new drivers for its economic growth even as its economy expands at a fast pace, JPMorgan's Jahangir Aziz said, following the country's union budget. "If you look at India over the last two years post the pandemic, recorded growth has been strong. But if you look at the drivers of growth, it's essentially these two: Public infrastructure and services export," Aziz, chief emerging markets economist at JPM, told CNBC's "Street Signs Asia" on Tuesday. According to estimates by the Ministry of Commerce and Industry, India's services exports will likely hit $30.3 billion in June, compared with $27.8 billion in the same month last year. According to the International Monetary Fund's latest World Economic Outlook, the country's growth is predicted to decline to 6.5% in 2025.

Persons: Tim Graham, JPMorgan's Jahangir Aziz, Aziz, CNBC's, V Anantha Nageswaran, Raghuram Rajan Organizations: Getty, Ministry of Commerce and Industry, Services, Reserve Bank, India's, International Monetary, University of Chicago Booth School, Reserve Bank of India Locations: Tardeo South Mumbai, India

☆ CNBC Daily Open: Conflicting signals on U.S. jobs market
▼ + stars: | 2024-03-11 | by ( Sumathi Bala | ) www.cnbc.com time to read: +2 min

This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. China warns property developersChina's housing minister signaled real estate developers must go bankrupt if required and won't get a major bailout. Minister of Housing and Urban-Rural Development Ni Hong also warned that those who "harm the interests of the masses" will be punished. India's 'watershed' FTAIndia signed a 'watershed' $100 billion free trade deal that will remove most tariffs with four non-EU nations.

Persons: Hong, Piyush Goyal, Tony Fernandes, Tasha Keeney Organizations: CNBC, Nikkei, CSI, Nasdaq, Dow, Housing, India, EU, Commerce, Industry, AirAsia Locations: Asia, Japan, China, Malaysian

☆ India says Europe trade group commits to $100 billion 15-year deal
▼ + stars: | 2024-03-11 | by ( ) www.cnbc.com time to read: +2 min

Indian Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles Shri Piyush Goyal is talking to media on EU-India trade relations. India will waive tariffs on industrial imports from four European nations for a $100 billion investment over 15 years, ending nearly 16 years of negotiations. It envisages that the European Free Trade Association, comprised of Switzerland, Norway, Iceland and Liechtenstein, will invest $100 billion over 15 years in India's fast-growing market of 1.4 billion people, Trade Minister Piyush Goyal said. "With the new deal, we have secured nil import taxes on nearly every Norwegian good." The five signatories must ratify Sunday's deal before it can take effect, with Switzerland planning to do so by 2025.

Persons: Piyush Goyal, Narendra Modi, Christian Vestre, Goyal Organizations: of Commerce and Industry, Consumer Affairs, Food, United Arab, European Free Trade Association, Trade, Industry Locations: India, Australia, United Arab Emirates, Britain, Switzerland, Norway, Iceland, Liechtenstein

☆ India inks 'watershed' $100 billion free trade deal with four non-EU nations
▼ + stars: | 2024-03-11 | by ( Clement Tan | In Clemtan | ) www.cnbc.com time to read: +1 min

India flag, stock market, exchange economy and Trade, oil production, container ship in export and import business and logistics. India will lift most tariffs on four nations in Europe in a "watershed" deal that is expected to yield $100 billion worth of investment over 15 years and one billion jobs for the world's fifth-largest economy. The trade deal with European Free Trade Association nations, not part of the EU, was inked ahead of the country's general elections due in the next few months that may give Prime Minister Narendra Modi a third-straight term in office. This "marks a new turn and watershed moment in the bilateral relationship between India and [European Free Trade Association] countries of Switzerland, Iceland, Norway and Liechtenstein," India Prime Minister Narendra Modi said in comments shared on X, formerly Twitter. India expects this free trade agreement to stimulate its key exports in IT services, business services, audio-visual services among others, said Commerce and Industry Minister Piyush Goyal.

Persons: Narendra Modi, Piyush Goyal Organizations: European Free Trade Association, Free Trade Association, Twitter, Commerce, Industry Locations: India, Europe, Great Britain, Switzerland, Iceland, Norway, Liechtenstein

☆ Ukraine Needs $486 Billion to Recover, Rebuild After Nearly Two Years of War - World Bank
▼ + stars: | 2024-02-15 | by ( Feb. | At A.M. | ) www.usnews.com time to read: +3 min

That 10-year cost estimate is up from $411 billion last March, with housing needs topping the list at $80 billion or 17%, followed by transport needs of $74 billion or 15%, and commerce and industry at $67.5 billion, or 14%. The new estimate excludes reconstruction needs already met through the Ukraine state budget or through partners and international support. He said the Ukrainian economy had proven remarkably resilient in the face of the war. Four of five firms continued to operate in Ukraine, despite the war, with many relying on digital operations or moving sites to stay in business, he added. The number of internally displaced persons had also gone down to around 3.7 million, compared with 5.4 million in spring 2023.

Persons: Andrea Shalal WASHINGTON, Arup Banerji, Banerji, Andrea Shalal, Jonathan Oatis Organizations: World Bank, United, European Commission Locations: United Nations, Eastern Europe, Donetsk, Kharkiv, Luhansk, Zaporizhzhia, Kherson, Kyiv, Ukraine, Ukrainian

☆ S.Korea Defence Minister Heads to Middle East for Talks, Arms Expo
▼ + stars: | 2024-01-31 | by ( Jan. | At P.M. | ) www.usnews.com time to read: +1 min

SEOUL (Reuters) - South Korea's defence minister Shin Won-sik departs on Thursday for a seven-day trip to the Middle East to hold ministerial talks and attend an arms exhibition in Saudi Arabia, the ministry said. He will also travel to Saudi Arabia on Saturday for the World Defense Show in Riyadh before heading to Qatar to meet Khalid bin Mohammed Al Attiyah, the country's defence minister. South Korea has emerged in recent years as one of the world's biggest arms exporters with sales jumping to $17 billion in 2022 from $7.25 billion the year before, data from the defence ministry showed. The country's arms exports to the Middle East grew nearly tenfold between 2013 and 2022, according to the Korea Chamber of Commerce and Industry. War in Israel and Gaza View All 194 ImagesExperts say arms sales have been buoyed by South Korea's price competitiveness and ability to ensure speedy delivery.

Persons: Shin Won, sik, Shin, Mohammed bin Mubarak Al Mazrouei, Khalid bin Mohammed Al Attiyah, Hyunsu Yim, Ed Davies Organizations: United Arab Emirates, South, Akh Unit, World Defense, Korea Chamber of Commerce, Industry Locations: SEOUL, Saudi Arabia, Riyadh, Qatar, Korea, Israel, Gaza

☆ Defense is a 'huge part' of the U.S.-Australia relationship, Australian industry body says
▼ + stars: | 2023-10-25 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailDefense is a 'huge part' of the U.S.-Australia relationship, Australian industry body saysAndrew McKellar of the Australian Chamber of Commerce and Industry says the United States is Australia's top strategic partner.

Persons: Andrew McKellar Organizations: Email Defense, U.S ., Australian Chamber of Commerce, Industry Locations: U.S, Australia, United States

German Chancellor Olaf Scholz's coalition unveiled in July a strategy toward de-risking Germany's economic relationship with China, calling Beijing a "partner, competitor and systemic rival". German investment in Asia excluding China is rising as a share of overall investment. "No company is going to say that it will leave China," said Sandra Ebner, senior economist at Union Investment, Germany's second-largest fund manager. "But what companies are increasingly doing is to produce in China for China and to position themselves around China for the remaining Asian or global market." In July, German Economy Minister Robert Habeck travelled to India with a delegation of executives to discuss opportunities for German companies.

Persons: Thomas Nuernberger, Nuernberger, Olaf Scholz's, Volker Treier, Munk, Ferdinand Munk, Scholz, Angela Merkel's, Martin Brudermueller, Max Zenglein, Juergen Matthes, Markus Horn, Matthias Bianchi, Joe Biden, Wolfgang Niedermark, Jan Roennfeld, Roennfeld, Sandra Ebner, BDI's Niedermark, Robert Habeck, Christoph Steitz, Sarah Marsh, Maria Martinez, Aditya Kalra, Sarita Chaganti Singh, Xinghui, Orathai, Brenda Goh Organizations: Reuters, Commerce and Industry, Volkswagen, Mercedes, Benz, BASF, IW Institute, Big, Mercator Institute for China Studies, Economic Institute, Horn, German Association of, Indonesian Chamber of Commerce, Union Investment, Thomson Locations: FRANKFURT, BERLIN, Berlin, Beijing, China, Taiwan, India, Asia, Germany, Europe, Vietnam, South Korea, Indonesia, South China, European, Thailand, United States, Mexico, Indonesian, Eastern Germany, Malaysia, Frankfurt, New Delhi, Xinghui Kok, Singapore, Bangkok, Shanghai

☆ Options for G7 discussion for a ban on Russian diamonds
▼ + stars: | 2023-10-18 | by ( ) www.reuters.com time to read: +5 min

Enforcement would be government regulated through customs at a single point of entry for rough diamonds and several G7 entry points for polished stones. The proposal said a single entry point would be needed for rough diamonds without specifying where. Antwerp would be the favoured option for Belgium and the city also already handles most of the rough diamond trade. WORLD DIAMOND COUNCILThe World Diamond Council, which includes the world's largest rough diamond producer by value, De Beers, has proposed a version of the ban that is largely self-regulating. Any diamond sellers would then have to include with the stone they sell a declaration called the "G7 Diamond Protocol Declaration" that the diamond is not Russian.

Persons: De Beers, Sellers, De, WDC, Julia Payne, Jan Strupczewski, David Evans Organizations: Reuters, World Diamond Council, Belgian, Export Promotion Council, WORLD DIAMOND, Diamond Council, Russian, Thomson Locations: Ukraine, Belgium, India, France, BELGIUM, Antwerp, Russian, Botswana, INDIA, Surat, Mumbai, FRANCE

REUTERS/Ali Khara/File Photo Acquire Licensing RightsKABUL, Oct 14 (Reuters) - The Taliban will attend China's Belt and Road Forum next week, a spokesman said on Saturday, underscoring Beijing's growing official ties with the administration, despite its lack of formal recognition by any government. Taliban officials and ministers have at times travelled to regional meetings, mostly those focussed on Afghanistan, but the Belt and Road Forum is among the highest-profile multilateral summits it has been invited to attend. China has been in talks with the Taliban over plans, begun under the previous foreign-backed government, over a possible huge copper mine in eastern Afghanistan. Officials from China, the Taliban and neighbouring Pakistan said in May they would like Belt and Road to include Afghanistan and for the flagship China Pakistan Economic Corridor to be extended across the border to Afghanistan. China has boosted engagement with the Taliban, becoming the first country to appoint an ambassador to Kabul since the Taliban took power, and invested in mining projects.

Persons: Mullah Abdul Ghani Baradar, Wang Yu, Ali Khara, Xi, Haji Nooruddin Azizi, Akhundzada Abdul Salam Jawad, Azizi, Akhundzada, Mohammad Yunus Yawar, Charlotte, Joe Cash, William Mallard Organizations: Afghan, REUTERS, Rights, China Pakistan Economic, Taliban, Thomson Locations: China, Islamic Emirate, Afghanistan, Kabul, Rights KABUL, Beijing, Pakistan, China Pakistan, Charlotte Greenfield, Islamabad

ABUJA, Nigeria (AP) — Nigerian government workers on Tuesday continued working after last-minute efforts by authorities averted a nationwide strike to protest growing hardship that could have shut down government services in Africa's most populous country. The indefinite strike by Nigerian labor unions scheduled to start Tuesday is being suspended for 30 days, while meetings and talks with the government will be held over the coming days, said Joe Ajaero, president of the Nigeria Labour Congress, or NLC, which is the umbrella body of the unions. Talks with the labor unions have stalled and a slow start to several intervention efforts resulted in last week’s announcement of the strike. One major source of concern has been intervention efforts, which the labor unions said have been slow. “But the adverse outcomes of the measures, the hardship, were much higher than what many of us expected.”

Persons: Joe Ajaero, Bola, ”, Muda Yusuf Organizations: Nigeria Labour Congress, NLC, Lagos Chamber of Commerce, Industry, Private Enterprise Locations: ABUJA, Nigeria, Africa's, Lagos

☆ BOJ chief warns of highly uncertain wage, price outlook
▼ + stars: | 2023-09-25 | by ( Leika Kihara | ) www.reuters.com time to read: +3 min

The key to the outlook for monetary policy is whether strong wage growth and consumption, rather than cost pressures from rising import costs, become the key driver of inflation, Ueda said. Ueda said the BOJ was "not fully convinced" that wage hikes would keep accelerating, as many companies seemed undecided on their wage strategy for next year and beyond. That's why we are supporting demand and the broader economy with easy monetary policy," he added. While stressing the need to keep ultra-loose policy for now, Ueda said it was "extremely important" to weigh the benefits and costs of its policy. On the yen's recent falls, Ueda said the BOJ was keeping a close eye on their impact on economic and price developments.

Persons: Kazuo Ueda, Kim Kyung, Ueda, Shingo Torii, Leika Kihara, Chang, Ran Kim, Sam Holmes, Ed Osmond Organizations: Japan, REUTERS, Ueda, Bank of Japan, Panasonic, Osaka Chamber of Commerce and Industry, Thomson Locations: Tokyo, Japan, Ueda OSAKA, Osaka

LONDON (AP) — Prime Minister Rishi Sunak announced Wednesday that he’s delaying by five years a ban on new gas and diesel cars that had been due to take effect in 2030, watering down climate goals that he said imposed “unacceptable costs” on ordinary people. U.K. greenhouse gas emissions have fallen by 46% from 1990 levels, mainly because of the almost complete removal of coal from electricity generation. The government had pledged to reduce emissions by 68% of 1990 levels by 2030 and to reach net zero by 2050. Automakers, who have invested heavily in the switch to electric vehicles, expressed frustration at the government’s change of plan. Ford U.K. head Lisa Brankin said the company had invested 430 million pounds ($530 million) to build electric cars in Britain.

Persons: Rishi Sunak, Sunak, ”, Boris Johnson, backtrack, Prince William —, Will McCallum, Lisa Brankin, Richard Burge, Tara, Hargreaves Lansdown, Clee, Sadiq Khan, Alok Sharma, Peter Cox Organizations: —, Conservative Party, Former, United Nations General Assembly, Greenpeace, Ford, London Chamber of Commerce and Industry, Britain’s Conservatives, Labour, London’s Labour, BBC, Global Systems Institute, University of Exeter Locations: New York, Britain, London Uxbridge, Glasgow

PESHAWAR/KABUL, Sept 15 (Reuters) - The main Afghanistan-Pakistan land border crossing reopened on Friday after being closed for nine days following firing between guards on both sides, a senior Pakistani official told Reuters. Thousands of travellers and hundreds of trucks laden with goods were left stranded last week by the closure the Torkham border crossing, at the western end of the fabled Khyber Pass. Spokespersons for Pakistan's foreign ministry and the Afghan authorities in Nangarhar province confirmed the reopening of the crossing. "The border closure was causing huge losses to traders and common people of the two neighbouring countries," Ziaul Haq Sarhadi, director of the Pakistan-Afghanistan Joint Chamber of Commerce and Industry said. The Taliban foreign ministry criticised the closure of the crossing and said Pakistan security forces had fired on its border guards as they fixed an old security outpost.

Persons: It's, Abdul Nasir Khan, Torkham, Ziaul Haq Sarhadi, Amir Khan Muttaqi, Mushtaq Ali, Mohammad Yunus Yawar, Gibran Peshimam, Tom Hogue, Gerry Doyle, Simon Cameron, Moore Organizations: Reuters, Chamber of Commerce, Industry, Thomson Locations: PESHAWAR, KABUL, Afghanistan, Pakistan, Pakistan's Khyber, Nangarhar province, Pakistani, Peshawar, Jalalabad, Nangarhar, Kabul, Torkham

☆ Australia government to introduce bill barring 'wage theft' on Monday
▼ + stars: | 2023-09-03 | by ( Kirsty Needham | ) www.reuters.com time to read: +1 min

SYDNEY, Sept 3 (Reuters) - Australia's Labor government will introduce legislation to close "loopholes" in workplace law, a move opposed by employer groups fearing higher costs, when parliament returns on Monday. Workplace Minister Tony Burke said on Sunday he would introduce the bill making it a criminal offence to deliberately underpay workers, with a maximum penalty of 10 years in jail and a maximum fine of A$7.8 million ($5.0 million). Penalties would not apply to employers who make honest mistakes, Burke said in a statement. Burke said in a speech last week that in addition to criminalising "wage theft", the bill would make it easier for casual workers to gain permanent roles, scrutinise the use of labour hire firms to undercut minimum pay rates, and introduce minimum standards for "gig economy" workers, including in food delivery and rideshare apps. ($1 = 1.5504 Australian dollars)Reporting by Kirsty Needham; Editing by William MallardOur Standards: The Thomson Reuters Trust Principles.

Persons: Tony Burke, Burke, Jennifer Westacott, Kirsty Needham, William Mallard Organizations: Australia's Labor, Australian Broadcasting Corporation, Business, of Australia, Sky News, Australian Chamber of Commerce, Industry, Thomson

☆ G20 agrees to work on WTO reforms ahead of key meet early next year
▼ + stars: | 2023-08-25 | by ( ) www.reuters.com time to read: +1 min

[1/2] A man walks past a model of G20 logo outside the finance ministry in New Delhi, India, March 1, 2023. Under President Joe Biden, Washington has resisted calls by WTO members to approve appointments and has instead been leading negotiations on how to reboot the WTO's paralysed dispute mechanism. Proposed reforms would include having a well-functioning Dispute Settlement System accessible to all members by 2024, as per the statement. At the Rajasthan meeting, G20 members also agreed to improve WTO functioning and strengthen trust in the multilateral trading system. The G20 takes in countries conducting over 75% of global trade and is presently functioning under Indian presidency.

Persons: Anushree, Piyush Goyal, Donald Trump's, Joe Biden, Washington, Shivangi Acharya, Manoj Kumar, Mark Heinrich Our Organizations: REUTERS, DELHI, World Trade Organization, WTO, Thomson Locations: New Delhi, India, Abu Dhabi, Rajasthan

☆ EVs: We want to be part of the global supply chain, says Indonesian Chamber of Commerce and Industry
▼ + stars: | 2023-08-14 | by ( ) www.cnbc.com time to read: 1 min

Share Share Article via Facebook Share Article via Twitter Share Article via LinkedIn Share Article via EmailEVs: We want to be part of the global supply chain, says Indonesian Chamber of Commerce and IndustryArsjad Rasjid, chairman of the Indonesian Chamber of Commerce and Industry, says although the region's electric vehicle market is big enough for the country to cater to, "we want to be part of that global supply chain."

Persons: Industry Arsjad Rasjid Organizations: of Commerce, Industry, Indonesian Chamber of Commerce and Industry Locations: Indonesian

☆ India restricts laptop imports to boost local manufacturing
▼ + stars: | 2023-08-03 | by ( Rhea Mogul | ) edition.cnn.com time to read: +3 min

The ministry didn’t provide a reason for the change in rules, however Modi has aggressively pushed his “Make in India” campaign, which promotes local manufacturing in a bid to create more jobs. India’s electronic imports stood at $19.7 billion in the April to June period, up 6.25% from the same period in 2022, according to Reuters. Its large and young labor force makes the country a big draw for global companies seeking alternative manufacturing hubs to China. Earlier this year, India’s commerce minister, Piyush Goyal, said Apple was already making between 5% and 7% of its products in India. Foxconn, the world’s largest contract electronics maker and a key supplier to Apple, is also looking to expand its manufacturing operations in India.

Persons: Narendra Modi, Modi, Piyush Goyal, Apple, ” Organizations: CNN, Ministry of Commerce, Industry, Reuters, Apple, Samsung, Organisation for Economic Co, Micron, Vedanta Locations: India, China, Gujarat

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