Indian drug companies could recoup some of the financial losses incurred as Venezuela struggles to make foreign-currency payments and the value of its currency plummets--by participating in a barter plan that would swap medicines for crude oil.
India's first nuclear armed submarine INS Arihant is now ready for full fledged operations, according to Navy sources. It has passed several deep sea diving drills as well as weapons launch tests over the past five months.
India's economic growth picked up in July-September, outpacing China on improving domestic demand and manufacturing activity, and the acceleration could persuade the country's central bank to keep interest rates unchanged at its Tuesday meeting.
By Rengaraj Viswanathan (*) Mauricio Macri’s win will inspire the centre-right opposition parties that hope to replace leftist governments in Brazil and Venezuela but it is too early to declare, as some observers are doing, that the result marks the end of the Left in the region
”It’s unfair to pin the blame on the August 11 Yuan devaluation because currencies were already declining due to the “unconventional monetary policies” of some nations, Raghuram Rajan was cited as saying in an interview with the SCMP.
The state-run China Daily has said that India's plans to conduct oil exploration off Vietnam coast in the South China Sea is illegal and is an unwise move that may sabotage” positive momentum in ties.
Central banks are under too much pressure to fix struggling economies, according to the man in charge of India's monetary policy. Reserve Bank of India governor Raghuram Rajan hinted that using cheap money to tackle economic problems - rather than painful reform - had to stop.
Uruguay's president Tabare Vazquez is planning to visit India next year, while foreign minister Rodolfo Nin Novoa is scheduled to attend the India-Latin-American conference next October. The move is seen as an effort by Uruguay to increase its trade opportunities and access new markets, given the current difficulties to forge an agreement with the European Union.
Nestle says it will destroy more than $50m worth of its hugely popular Maggi noodles, following a ban imposed by India's food safety regulator following tests have found the instant noodles unsafe and hazardous and has accused Nestle of failing to comply with food safety laws.
Food group Nestle has withdrawn Maggi noodles from sale in India due to an environment of confusion for consumers, following a food scare sparked by reports of excess lead in some packets of the popular instant snack.