Pakistan Prime Minister Imran Khan again calls for Trump to mediate on Kashmir dispute

Pakistan Prime Minister Imran Khan once again called for U.S. President Donald Trump and the United Nations to play mediator between his country and neighbor India over disputed territory in Kashmir. “Kashmir is, you know, it’s a far more serious problem than people realize, (than) the world realizes. Khan was referring to the Rashtriya Swayamsevak Sangh (RSS), a Hindu nationalist group affiliated with Indian Prime Minister Narendra Modi and his ruling Bharatiya Janata Party. “That’s why I want


Pakistan Prime Minister Imran Khan once again called for U.S. President Donald Trump and the United Nations to play mediator between his country and neighbor India over disputed territory in Kashmir.
“Kashmir is, you know, it’s a far more serious problem than people realize, (than) the world realizes.
Khan was referring to the Rashtriya Swayamsevak Sangh (RSS), a Hindu nationalist group affiliated with Indian Prime Minister Narendra Modi and his ruling Bharatiya Janata Party.
“That’s why I want
Pakistan Prime Minister Imran Khan again calls for Trump to mediate on Kashmir dispute Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-23  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, kashmir, world, rss, mediate, calls, state, taken, dispute, prime, imran, united, president, serious, minister, india, khan, pakistan, trump


Pakistan Prime Minister Imran Khan again calls for Trump to mediate on Kashmir dispute

Pakistan Prime Minister Imran Khan once again called for U.S. President Donald Trump and the United Nations to play mediator between his country and neighbor India over disputed territory in Kashmir.

Speaking to CNBC’s Hadley Gamble, Khan claimed India has been taken over by “extremist ideology” that could potentially spill over into armed conflict between the two nuclear rivals.

“Kashmir is, you know, it’s a far more serious problem than people realize, (than) the world realizes. The problem is that India has been taken over by an extremist ideology, which is called Hindutva or the RSS,” he said at the World Economic Forum in Davos, Switzerland.

Khan was referring to the Rashtriya Swayamsevak Sangh (RSS), a Hindu nationalist group affiliated with Indian Prime Minister Narendra Modi and his ruling Bharatiya Janata Party.

“This is serious because there are two nuclear-armed countries,” Khan said. “That’s why I want President Trump, head of the most powerful country in the world — he should intervene right now. United Nations, or President Trump through the U.N. at least.”

Last year, fresh off a landslide re-election victory in Parliament, Modi’s government revoked the state of Jammu & Kashmir’s special status that allowed it to make its own laws. As a result, people from outside the state can potentially move in to settle there, buy land, and take government jobs or scholarships.


Company: cnbc, Activity: cnbc, Date: 2020-01-23  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, kashmir, world, rss, mediate, calls, state, taken, dispute, prime, imran, united, president, serious, minister, india, khan, pakistan, trump


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India may be going through a mental health ‘revolution,’ says Bollywood star Deepika Padukone

Deepika Padukone, one of India’s highest paid actresses and mental health campaigner, says the country is at the “beginning of a revolution” in dealing with these issues. Speaking to CNBC’s Tania Bryer, the actress said she felt people in India were now not as afraid to talk about mental health as they once were. Padukone won one of WEF’s cultural leadership Crystal Awards on Monday evening, for her campaigning to raise awareness around mental health. After going public with her mental health st


Deepika Padukone, one of India’s highest paid actresses and mental health campaigner, says the country is at the “beginning of a revolution” in dealing with these issues.
Speaking to CNBC’s Tania Bryer, the actress said she felt people in India were now not as afraid to talk about mental health as they once were.
Padukone won one of WEF’s cultural leadership Crystal Awards on Monday evening, for her campaigning to raise awareness around mental health.
After going public with her mental health st
India may be going through a mental health ‘revolution,’ says Bollywood star Deepika Padukone Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: vicky mckeever
Keywords: news, cnbc, companies, indias, movie, life, world, health, actress, padukone, star, felt, mental, india, going, deepika, having, bollywood, revolution


India may be going through a mental health 'revolution,' says Bollywood star Deepika Padukone

Indian actress Deepika Padukone delivers her acceptance speech during the “Crystal Award” ceremony at the World Economic Forum (WEF) annual meeting in Davos, on January 20, 2020.

Deepika Padukone, one of India’s highest paid actresses and mental health campaigner, says the country is at the “beginning of a revolution” in dealing with these issues.

Speaking to CNBC’s Tania Bryer, the actress said she felt people in India were now not as afraid to talk about mental health as they once were.

Padukone won one of WEF’s cultural leadership Crystal Awards on Monday evening, for her campaigning to raise awareness around mental health.

The actress founded The Live, Love, Laugh Foundation in 2015, after being diagnosed with depression herself the previous year.

The charity not only aims to spread awareness, having launched India’s first national campaign, but also works toward the destigmatization of mental illness.

After going public with her mental health struggles, Padukone said she felt there was a collective “sigh of relief” from those who had similar experiences.

“It almost felt like there was this burden the nation was having to deal with for so many generations and so many years — it felt like this veil had finally been lifted off,” she said at the World Economic Forum in Davos.

While she said people praised her openness about mental health as “brave” and courageous, Padukone viewed it as simply being “honest.”

Padukone went on to explain how her “powerful” experience with depression changed her as a person, in changing her perspective on life.

For this reason, the actress said she had a “love-hate relationship” with her mental illness, as she considered it the “darkest phase of her life” but also “learned a lot from it.”

Padukone most recently starred in “Chhapaak,” translated as “Splash” in which she played an acid attack survivor. The movie was based on the real life story of Laxmi Agarwal, who was attacked when she was 16 years’ old and is now a high-profile campaigner against the sale of acid.

Padukone is also known for her role in the 2018 period drama “Padmaavat” and alongside Vin Diesel, in the 2017 movie “xXx: The Return of Xander Cage.”

In addition to her most recent accolade in Davos, Padukone was named as one of Time magazine’s 100 most influential people of 2018.

Follow CNBC International on Twitter and Facebook.


Company: cnbc, Activity: cnbc, Date: 2020-01-22  Authors: vicky mckeever
Keywords: news, cnbc, companies, indias, movie, life, world, health, actress, padukone, star, felt, mental, india, going, deepika, having, bollywood, revolution


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Uber just sold its food delivery business in India to local rival Zomato

Ride-hailing giant Uber said Tuesday it sold its food delivery business in India to its competitor Zomato in an all-stock transaction. The sale gives Uber a 9.99% stake in the Indian restaurant aggregator and food delivery start-up. Uber Eats is set to discontinue operations starting Tuesday, and it will direct restaurants, delivery partners and users to the Zomato app. Uber will continue competing in the Indian ride-hailing market against start-up Ola. Previously, Uber ceded ground in China and


Ride-hailing giant Uber said Tuesday it sold its food delivery business in India to its competitor Zomato in an all-stock transaction.
The sale gives Uber a 9.99% stake in the Indian restaurant aggregator and food delivery start-up.
Uber Eats is set to discontinue operations starting Tuesday, and it will direct restaurants, delivery partners and users to the Zomato app.
Uber will continue competing in the Indian ride-hailing market against start-up Ola.
Previously, Uber ceded ground in China and
Uber just sold its food delivery business in India to local rival Zomato Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, rival, business, food, stake, market, local, valuation, ridehailing, zomato, uber, sold, million, india, delivery


Uber just sold its food delivery business in India to local rival Zomato

Ride-hailing giant Uber said Tuesday it sold its food delivery business in India to its competitor Zomato in an all-stock transaction.

The sale gives Uber a 9.99% stake in the Indian restaurant aggregator and food delivery start-up.

Zomato is backed by Alibaba affiliate Ant Financial, which recently agreed to invest up to $150 million at a pre-money valuation of $3 billion, according to official filings from Zomato-shareholder Info Edge.

Based on that valuation, Uber’s stake in Zomato would be worth around $300 million. Uber declined to comment on the deal’s value.

Uber Eats is set to discontinue operations starting Tuesday, and it will direct restaurants, delivery partners and users to the Zomato app.

“India remains an exceptionally important market to Uber and we will continue to invest in growing our local Rides business, which is already the clear category leader,” CEO Dara Khosrowshahi said in a statement.

The tech giant is under pressure from investors to turn its business around. Last year, the company reported a $5.2 billion loss in its second-quarter earnings and laid off hundreds of employees in 2019.

Uber will continue competing in the Indian ride-hailing market against start-up Ola. Previously, Uber ceded ground in China and Southeast Asia to local players Didi Chuxing and Grab, respectively and exited its Eats business in South Korea.


Company: cnbc, Activity: cnbc, Date: 2020-01-21  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, rival, business, food, stake, market, local, valuation, ridehailing, zomato, uber, sold, million, india, delivery


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Amazon’s $1 billion investment in India is no big favor, trade minister says

Mobile dealers and members of Ahmedabad Mobile Dealer’s Association hold placards as they protest against online shopping platform Amazon outside their closed mobile shops in Ahmedabad on January 15, 2020. Amazon hasn’t done India any big favors by investing $1 billion in the country, its trade minister said on Thursday, laying bare the tensions with the U.S. online retail giant during a visit by its CEO Jeff Bezos. “They may have put in a billion dollars but then if they make a loss of a billio


Mobile dealers and members of Ahmedabad Mobile Dealer’s Association hold placards as they protest against online shopping platform Amazon outside their closed mobile shops in Ahmedabad on January 15, 2020.
Amazon hasn’t done India any big favors by investing $1 billion in the country, its trade minister said on Thursday, laying bare the tensions with the U.S. online retail giant during a visit by its CEO Jeff Bezos.
“They may have put in a billion dollars but then if they make a loss of a billio
Amazon’s $1 billion investment in India is no big favor, trade minister says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-16
Keywords: news, cnbc, companies, dollars, mobile, investment, minister, indian, amazon, billion, favor, trade, india, online, amazons, visit, big, small


Amazon's $1 billion investment in India is no big favor, trade minister says

Mobile dealers and members of Ahmedabad Mobile Dealer’s Association hold placards as they protest against online shopping platform Amazon outside their closed mobile shops in Ahmedabad on January 15, 2020.

Amazon hasn’t done India any big favors by investing $1 billion in the country, its trade minister said on Thursday, laying bare the tensions with the U.S. online retail giant during a visit by its CEO Jeff Bezos.

Amazon and Walmart’s Flipkart are facing mounting criticism from India’s brick-and-mortar retailers, which accuse the U.S. giants of violating Indian law by racking up billions of dollars of losses to fund deep discounts and discriminating against small sellers. The companies deny the allegations.

“They may have put in a billion dollars but then if they make a loss of a billion dollars every year then they jolly well have to finance that billion dollars,” Indian trade minister Piyush Goyal told a security conference in New Delhi.

“So it’s not as if they are doing a great favor to India when they invest a billion dollars.”

Bezos, who is currently in India, said on Wednesday Amazon would invest $1 billion to bring small businesses online in the country, seen as part of the company’s efforts to dispel criticism.

Ahead of Bezos’ visit, the Competition Commission of India launched a probe into Amazon and Flipkart to look at allegations of deep discounts and whether the companies discriminate against small sellers.

Goyal said the allegations were “an area of concern for every Indian.”


Company: cnbc, Activity: cnbc, Date: 2020-01-16
Keywords: news, cnbc, companies, dollars, mobile, investment, minister, indian, amazon, billion, favor, trade, india, online, amazons, visit, big, small


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Amazon pledges $1 billion to small businesses in India as Jeff Bezos is met with protests

CEO of Amazon Jeff Bezos (R) greets along with Amit Agarwal, senior vice president and country manager for Amazon India, during the Amazon’s annual Smbhav event in New Delhi on January 15, 2020. Bezos appeared on stage Wednesday at Amazon’s Smbhav event in New Delhi for a fireside chat alongside Amit Agarwal, who heads Amazon’s India operations. The company said there are more than 550,000 sellers on the Amazon India marketplace and more than 60,000 Indian manufacturers exporting their goods wor


CEO of Amazon Jeff Bezos (R) greets along with Amit Agarwal, senior vice president and country manager for Amazon India, during the Amazon’s annual Smbhav event in New Delhi on January 15, 2020.
Bezos appeared on stage Wednesday at Amazon’s Smbhav event in New Delhi for a fireside chat alongside Amit Agarwal, who heads Amazon’s India operations.
The company said there are more than 550,000 sellers on the Amazon India marketplace and more than 60,000 Indian manufacturers exporting their goods wor
Amazon pledges $1 billion to small businesses in India as Jeff Bezos is met with protests Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: annie palmer
Keywords: news, cnbc, companies, country, traders, small, met, india, bezos, jeff, amazons, businesses, stage, billion, company, amazon, protests, pledges, smbhav


Amazon pledges $1 billion to small businesses in India as Jeff Bezos is met with protests

CEO of Amazon Jeff Bezos (R) greets along with Amit Agarwal, senior vice president and country manager for Amazon India, during the Amazon’s annual Smbhav event in New Delhi on January 15, 2020. – Bezos, whose worth has been estimated at more than $110 billion, is officially in India for a meeting of business leaders in New Delhi. (Photo by Sajjad HUSSAIN / AFP) (Photo by SAJJAD HUSSAIN/AFP via Getty Images)

Amazon CEO Jeff Bezos announced a $1 billion investment in India, as his company faces a fresh antitrust probe and waves of protests in the country.

Bezos appeared on stage Wednesday at Amazon’s Smbhav event in New Delhi for a fireside chat alongside Amit Agarwal, who heads Amazon’s India operations. He said the $1 billion investment will be used to digitize small and medium-sized businesses in the country and that Amazon hopes to export $10 billion worth of India-made goods around the world by 2025.

“I predict that the 21st century is going to be the Indian century,” Bezos said on stage, while wearing traditional Indian attire. “The dynamism, the energy…this country has something special. The most important alliance is going to be the alliance between India and the United States, the world’s oldest democracy and the world’s largest democracy.”

Bezos touched on other topics during the fireside chat, including climate change and the future of space exploration.

Smbhav is a two-day event held by Amazon that’s aimed at helping the company connect with millions of small and medium-sized businesses in the country. Amazon has already poured more than $5 billion in its India business. It went on a hiring spree in the country last year and announced a partnership with India’s Future Retail earlier this month.

The announcement builds on Amazon’s efforts to expand the marketplace in India. The company said there are more than 550,000 sellers on the Amazon India marketplace and more than 60,000 Indian manufacturers exporting their goods worldwide on Amazon.

Amazon’s investments in India haven’t always been met with enthusiasm. While Bezos appeared on stage, a group of small business owners criticized his trip, hosting protests across 300 cities in India. The Confederation of All India Traders, a group that represents 70 million traders and 40,000 trade associations, called Amazon “the worst enemy” of traders in the country and held signs saying “Jeff Bezos Go Back.”

The company also faces a fresh antitrust probe by India’s antitrust watchdog. The Competition Commission of India on Monday launched a probe into whether Amazon and Walmart’s Flipkart have violated competition laws by promoting “preferred sellers” on their platforms and offering deep discounts. Flipkart and Amazon both say they’re fully compliant with the country’s competition laws.

In addition to his appearance at Smbhav, Bezos has also sought a meeting with India’s Prime Minister Narendra Modi and celebrities from the Bollywood movie industry, according to Bloomberg. On Tuesday, Bezos also paid his respects to a memorial of Mahatma Gandhi in New Delhi.

Follow @CNBCtech on Twitter for the latest tech industry news.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: annie palmer
Keywords: news, cnbc, companies, country, traders, small, met, india, bezos, jeff, amazons, businesses, stage, billion, company, amazon, protests, pledges, smbhav


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Amazon’s Jeff Bezos announces $1 billion investment into India businesses as business owners protest his visit

Amazon’s Jeff Bezos announces $1 billion investment into India businesses as business owners protest his visit1 Hour AgoAmazon CEO Jeff Bezos made the announcement at Amazon’s Smbhav event in New Delhi. Smbhav is a two-day event that Amazon holds to connect with small and medium-sized businesses. At the same time as the event, small business owners across 300 cities in India protested his trip to the country.


Amazon’s Jeff Bezos announces $1 billion investment into India businesses as business owners protest his visit1 Hour AgoAmazon CEO Jeff Bezos made the announcement at Amazon’s Smbhav event in New Delhi.
Smbhav is a two-day event that Amazon holds to connect with small and medium-sized businesses.
At the same time as the event, small business owners across 300 cities in India protested his trip to the country.
Amazon’s Jeff Bezos announces $1 billion investment into India businesses as business owners protest his visit Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: sajjad hussain, afp, getty images
Keywords: news, cnbc, companies, billion, smbhav, protest, small, investment, amazons, india, businesses, owners, visit, bezos, jeff, business, event


Amazon's Jeff Bezos announces $1 billion investment into India businesses as business owners protest his visit

Amazon’s Jeff Bezos announces $1 billion investment into India businesses as business owners protest his visit

1 Hour Ago

Amazon CEO Jeff Bezos made the announcement at Amazon’s Smbhav event in New Delhi. Smbhav is a two-day event that Amazon holds to connect with small and medium-sized businesses. At the same time as the event, small business owners across 300 cities in India protested his trip to the country.


Company: cnbc, Activity: cnbc, Date: 2020-01-15  Authors: sajjad hussain, afp, getty images
Keywords: news, cnbc, companies, billion, smbhav, protest, small, investment, amazons, india, businesses, owners, visit, bezos, jeff, business, event


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Jeff Bezos heads to India as Amazon faces regulatory probes and waves of protests

Amazon CEO Jeff Bezos will face a wave of protests from small business owners when he travels to India this week. The CAIT claims Amazon is hurting small businesses by using heavy discounts to lure shoppers online and away from brick-and-mortar stores. “These preferred sellers are also alleged to be affiliated with or controlled by Flipkart/Amazon either directly or indirectly.” Amazon and Flipkart were forced to alter their operations in the country after India enacted new e-commerce rules in D


Amazon CEO Jeff Bezos will face a wave of protests from small business owners when he travels to India this week.
The CAIT claims Amazon is hurting small businesses by using heavy discounts to lure shoppers online and away from brick-and-mortar stores.
“These preferred sellers are also alleged to be affiliated with or controlled by Flipkart/Amazon either directly or indirectly.”
Amazon and Flipkart were forced to alter their operations in the country after India enacted new e-commerce rules in D
Jeff Bezos heads to India as Amazon faces regulatory probes and waves of protests Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: annie palmer
Keywords: news, cnbc, companies, waves, heads, probes, bezos, businesses, ecommerce, cait, faces, flipkart, small, jeff, sellers, protests, preferred, amazon, india, regulatory


Jeff Bezos heads to India as Amazon faces regulatory probes and waves of protests

Jeff Bezos, founder and chief executive officer of Amazon.com Inc., speaks at the National Press Club in Washington, D.C., on Thursday, Sept. 19, 2019.

Amazon CEO Jeff Bezos will face a wave of protests from small business owners when he travels to India this week.

Bezos will appear on stage Wednesday at Amazon’s Smbhav event for a fireside chat alongside Amit Agarwal, who heads Amazon’s India operations, according to Bloomberg. Smbhav is an annual event held by Amazon in New Delhi that’s aimed at helping the company connect with millions of small and medium-sized businesses in the country.

Bezos has also sought a meeting with India’s Prime Minister Narendra Modi and celebrities from the Bollywood movie industry, Bloomberg reported. An Amazon spokesperson declined to comment on the details of Bezos’ visit.

Not everyone is expected to welcome Bezos when he touches down in India. The Confederation of All India Traders (CAIT), a group that represents 70 million traders and 40,000 trade associations, is planning a “National Protest Day” on Wednesday. The group plans to host protests across 300 cities during Bezos’ visit.

The CAIT claims Amazon is hurting small businesses by using heavy discounts to lure shoppers online and away from brick-and-mortar stores.

“If they could not empower existing retailers on their portal, why they are looking for more retailers?” Praveen Khandewal, CAIT secretary general, and B.C. Bhartia Nagpur, CAIT national president, said in a statement. “Amazon is trying to create false propaganda that it is the true friend of traders, though it is the worst enemy.”

It comes as Amazon faces additional roadblocks that threaten to upend its goal of expanding in India. The Competition Commission of India (CCI) on Monday launched a probe into whether Amazon and Walmart’s Flipkart have violated competition laws by promoting “preferred sellers” on their platforms and offering deep discounts.

“Allegedly, there is an existence of various vertical arrangements between Flipkart with their preferred sellers on the platforms; and Amazon with their preferred sellers on the platforms, respectively which leads to a foreclosure of other nonpreferred sellers from the online marketplace,” the order states. “These preferred sellers are also alleged to be affiliated with or controlled by Flipkart/Amazon either directly or indirectly.”

A spokesperson from Amazon told CNBC in a statement: “We welcome the opportunity to address allegations made about Amazon; we are confident in our compliance, and will cooperate fully with CCI.”

A representative from Flipkart said the company is reviewing the CCI notice, but that it’s “fully compliant” with India’s competition laws.

“We take pride in democratizing e-commerce in India and giving market access to [hundreds of thousands] of [micro businesses], sellers, artisans and small businesses, making quality and affordable goods available to consumers through our transparent and efficient marketplace while creating lakhs of jobs,” the spokesperson said.

Amazon and Flipkart were forced to alter their operations in the country after India enacted new e-commerce rules in December 2018. The rules prevent foreign-owned e-commerce companies like Amazon from selling products through affiliated companies they own a significant stake in, or from offering special discounts and exclusive deals in the country. Amazon pulled an estimated 400,000 items from its shelves as a result of the new rules, while Flipkart removed thousands of products from its platform, according to The New York Times.

Amazon and Flipkart have become fierce rivals in India, which is poised to become one of the fastest growing e-commerce markets in the world. Amazon has poured more than $5 billion into its India business, went on a hiring spree in the country last year and announced a partnership with India’s Future Retail earlier this month. Walmart in 2018 paid $16 billion to acquire Flipkart.


Company: cnbc, Activity: cnbc, Date: 2020-01-14  Authors: annie palmer
Keywords: news, cnbc, companies, waves, heads, probes, bezos, businesses, ecommerce, cait, faces, flipkart, small, jeff, sellers, protests, preferred, amazon, india, regulatory


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Former RBI governor says India needs ‘significant reforms’ to keep young job seekers employed

India needs to implement significant reforms to revive its flagging economic growth and put more young job seekers to work, according to a former central bank governor. Growth in India’s economic output slowed to 4.5% in the three months that ended in September, which marked the slowest pace of expansion in six years. There’s emerging evidence that the economy might be picking up slowly, but growth level around 5% is insufficient for India, Raghuram Rajan told CNBC’s “Street Signs” on Monday. “I


India needs to implement significant reforms to revive its flagging economic growth and put more young job seekers to work, according to a former central bank governor.
Growth in India’s economic output slowed to 4.5% in the three months that ended in September, which marked the slowest pace of expansion in six years.
There’s emerging evidence that the economy might be picking up slowly, but growth level around 5% is insufficient for India, Raghuram Rajan told CNBC’s “Street Signs” on Monday.
“I
Former RBI governor says India needs ‘significant reforms’ to keep young job seekers employed Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, reforms, young, bank, significant, growth, needs, revive, employed, job, seekers, india, rajan, rbi, governor, slowed


Former RBI governor says India needs 'significant reforms' to keep young job seekers employed

India needs to implement significant reforms to revive its flagging economic growth and put more young job seekers to work, according to a former central bank governor.

Growth in India’s economic output slowed to 4.5% in the three months that ended in September, which marked the slowest pace of expansion in six years.

There’s emerging evidence that the economy might be picking up slowly, but growth level around 5% is insufficient for India, Raghuram Rajan told CNBC’s “Street Signs” on Monday.

“We have a lot of young people entering the labor force. We need to provide jobs for them and even if much of the growth is job-oriented, 5% simply doesn’t cut it,” Rajan, who was the governor of the Reserve Bank of India between 2013 and 2016, said.

India’s industrial production grew in November, beating expectations. Along with other indicators like factory activity data, auto sales, and bank credit, some experts said growth likely began to inflect in the final three months of 2019.

Still, in recent quarters, India’s growth did not result in sizeable job creation as the country faced a number of challenges including a troubled financial sector and weakness in corporate earnings and profits that likely weighed on business investment.

“India needs significantly more growth, which means significant reforms, and I think the problem in the last 15 years or so, is the reform momentum has slowed considerably,” Rajan said.

He added that South Asia’s largest economy needs to revive itself to become an attractive destination, particularly for companies that are shifting their supply chains out of China and into countries such as Vietnam.


Company: cnbc, Activity: cnbc, Date: 2020-01-13  Authors: saheli roy choudhury
Keywords: news, cnbc, companies, reforms, young, bank, significant, growth, needs, revive, employed, job, seekers, india, rajan, rbi, governor, slowed


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India trade group plans protests against Amazon founder Jeff Bezos across 300 cities

Jeff Bezos, founder and chief executive officer of Amazon.com Inc., speaks at the National Press Club in Washington, D.C., on Thursday, Sept. 19, 2019. Thousands of small-scale traders in India are planning to organize protests against Amazon founder Jeff Bezos, who will visit the country next week for a company event and potential meetings with government officials. Details of Bezos’ visit, including his arrival date and the duration of his stay are not known. The Confederation of All India Tra


Jeff Bezos, founder and chief executive officer of Amazon.com Inc., speaks at the National Press Club in Washington, D.C., on Thursday, Sept. 19, 2019.
Thousands of small-scale traders in India are planning to organize protests against Amazon founder Jeff Bezos, who will visit the country next week for a company event and potential meetings with government officials.
Details of Bezos’ visit, including his arrival date and the duration of his stay are not known.
The Confederation of All India Tra
India trade group plans protests against Amazon founder Jeff Bezos across 300 cities Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-11
Keywords: news, cnbc, companies, founder, protests, visit, plans, delhi, trade, cities, india, traders, retailers, group, online, amazon, jeff, bezos


India trade group plans protests against Amazon founder Jeff Bezos across 300 cities

Jeff Bezos, founder and chief executive officer of Amazon.com Inc., speaks at the National Press Club in Washington, D.C., on Thursday, Sept. 19, 2019.

Thousands of small-scale traders in India are planning to organize protests against Amazon founder Jeff Bezos, who will visit the country next week for a company event and potential meetings with government officials.

Bezos will participate in an Amazon event in capital New Delhi aimed at connecting with small and medium-sized enterprises, three sources told Reuters.

He has also sought meetings with the prime minister and other government officials, with conversations expected to center around e-commerce, one of the sources familiar with the matter said.

Details of Bezos’ visit, including his arrival date and the duration of his stay are not known.

Amazon did not respond to a request to confirm the visit. The prime minister’s office also did not respond to requests for comment.

The Confederation of All India Traders (CAIT), a group representing roughly 70 million brick-and-mortar retailers, said it will protest across 300 cities during Bezos’ stay in the country.

CAIT has since 2015 waged a battle against online retailers Amazon and Walmart-controlled Flipkart, accusing them of deep discounts and flouting India’s foreign investment rules.

Both e-tailers have denied the allegations.

Amazon has previously said its platform provides business opportunities to thousands of small sellers, artisans, weavers and women entrepreneurs. But CAIT is not convinced.

“We plan to organize peaceful rallies against Jeff Bezos in all major cities such as Delhi, Mumbai, Kolkata as well as smaller towns and cities,” Praveen Khandelwal, the group’s secretary general told Reuters.

“We expect to mobilize at least 100,000 traders in the protests.”

With its 1.3 billion population and the world’s second-biggest smartphone user base that relies on cheap data for social media and online shopping, India is a key market for U.S. retailers Amazon and Walmart to grow their business.

Discounts on their platforms have helped lure Indians to shop online for everything from groceries to large electronic devices, a phenomenon which traders say has unfairly hurt their business.

New Delhi introduced rules last year to protect nearly 130 million people dependent on small-scale retail — a key voter base — by deterring large online discounts.

The rules forced e-commerce firms to change their business structures, drawing criticism from the United States and straining the two countries’ trade ties.

The federal commerce ministry is reviewing complaints and evidence filed by CAIT against Flipkart and Amazon, Reuters reported previously.


Company: cnbc, Activity: cnbc, Date: 2020-01-11
Keywords: news, cnbc, companies, founder, protests, visit, plans, delhi, trade, cities, india, traders, retailers, group, online, amazon, jeff, bezos


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India’s oil demand growth set to overtake China by mid-2020s, IEA says

India’s oil demand growth is set to overtake China by mid-2020s, priming the country for more refinery investment but making it more vulnerable to supply disruption in the Middle East, the International Energy Agency (IEA) said on Friday. “We see India definitely as a key driver for oil demand growth,” IEA Executive Director Fatih Birol told Reuters, but added that the country’s oil demand growth may slow down slightly, in line with slowing global economic growth. India is highly dependent on Mi


India’s oil demand growth is set to overtake China by mid-2020s, priming the country for more refinery investment but making it more vulnerable to supply disruption in the Middle East, the International Energy Agency (IEA) said on Friday.
“We see India definitely as a key driver for oil demand growth,” IEA Executive Director Fatih Birol told Reuters, but added that the country’s oil demand growth may slow down slightly, in line with slowing global economic growth.
India is highly dependent on Mi
India’s oil demand growth set to overtake China by mid-2020s, IEA says Cached Page below :
Company: cnbc, Activity: cnbc, Date: 2020-01-10
Keywords: news, cnbc, companies, demand, bpd, china, oil, growth, east, india, overtake, iea, supply, mid2020s, middle, indias, million, set


India's oil demand growth set to overtake China by mid-2020s, IEA says

Indian and Nepalese citizens queue up with empty containers at a petrol pump in the Indian village of Panitanki.

India’s oil demand growth is set to overtake China by mid-2020s, priming the country for more refinery investment but making it more vulnerable to supply disruption in the Middle East, the International Energy Agency (IEA) said on Friday.

India’s oil demand is expected to reach 6 million barrels per day (bpd) by 2024 from 4.4 million bpd in 2017, but its domestic production is expected to rise only marginally, making it more reliant on crude imports and more vulnerable to supply disruption in the Middle East, the agency said.

“We see India definitely as a key driver for oil demand growth,” IEA Executive Director Fatih Birol told Reuters, but added that the country’s oil demand growth may slow down slightly, in line with slowing global economic growth.

China’s demand growth is likely to be slightly lower than that of India by the mid-2020s, as per IEA’s China estimates given in November, but the gap would slowly become bigger thereafter.

“Indian economy is and will become even more exposed to risks of supply disruptions, geopolitical uncertainties and the volatility of oil prices,” the IEA said in a report on India’s energy policies.

Brent crude prices topped $70 a barrel on rising geopolitical tensions in the Middle East, putting pressure on emerging markets such as India.

India is highly dependent on Middle East oil supplies, like its Asian peers, with Iraq being its largest crude supplier.

India, which ranks No. 3 in terms of global oil consumption after China and the United States, ships in over 80% of its oil needs, of which 65% is from the Middle East through the Strait of Hormuz, the IEA said.

The IEA, which coordinates release of strategic petroleum reserves (SPR) among developed countries in times of emergency, said it is important for India to expand its reserves.

India is the world’s fourth-largest oil refiner and a net exporter of refined fuel, mainly gasoline and diesel. It plans to lift its refining capacity to about 8 million bpd by 2025 from about 5 million bpd at present.

The IEA, however, forecasts India’s refining capacity to rise to 5.7 million bpd by 2024, making “India a very attractive market for refinery investment.”

Drawn to India’s higher fuel demand potential, global oil majors such as Saudi Aramco, BP, Abu Dhabi National Oil Co and Total are looking at investing in its oil sector.


Company: cnbc, Activity: cnbc, Date: 2020-01-10
Keywords: news, cnbc, companies, demand, bpd, china, oil, growth, east, india, overtake, iea, supply, mid2020s, middle, indias, million, set


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