Economic Recovery

Union Minister for Road and Transport, Nitin Gadkari lauded the jump in bilateral trade between India-US to $149 billion from $16 billion in last the two decades at the 17th Indo-US Economic Summit. The trade is estimated to be valued at $500 billion by 2025. Gadkari added,  "Indo-US play an important role in the post-Covid economic recovery as the world needs creative agenda for a new pathway to recovery".

Mizoram has accused Assam of "economic blockade" due to the ongoing border dispute and has requested the Union government to intervene in the matter. Zoramthanga government wrote to the Center to get Assam to open rail and road blockade "owned and maintained by the government of India". Mizoram said that the blocking of rail routes and roadways has disrupted the transportation of essentials and foodgrains in the state.

The IMF's Managing Director Kristalina Georgieva on October 9 informed that African states may witness a financial deficit of $345 billion through 2023. Reportedly, an extra 2.5% of GDP was spent by African nations to cover the economic losses caused by the pandemic, drop in commodity prices, and locust plague. “All of us, countries and institutions, must do more to support Africa to cope… read-more

With the pandemic wreaking havoc in the global economy, many countries are trying to hold on with various economic measures. In this context, Chairman of Choice Group Mr Jose Thomas, running successful businesses in the US and India, shared his insights on how both the countries are tackling the issue.

He opined that the US, through various schemes, tried to ensure that its… read-more