India’s computer services exports have surged by 30% since OpenAI launched ChatGPT in November 2022, according to Franziska Ohnsorge, Chief Economist for South Asia at the World Bank. Speaking at the Fourth Kautilya Economic Conclave, (an annual flagship initiative jointly convened by the Institute of Economic Growth in Delhi, and...
Treasury Secretary Expects India to Be First to Strike Trade Deal
Treasury Secretary Scott Bessent indicated that India is likely to be the first country to reach a bilateral trade agreement avoiding President Trump's "reciprocal" tariffs, while negotiations with China are currently on hold. At a DC roundtable with reporters during the World Bank and IMF meetings, Bessent said talks with...
World Bank: at $125 Billion, India Tops Global Remittance Flows
According to the World Bank's latest Migration and Development Brief, India saw the highest amount of remittance inflows in the world in 2023 at $125 billion. This was driven by several factors: Firstly, declining inflation and strong labor markets in high-income source countries such as the U.S., UK and Singapore...
Powered by Digital Public Infrastructure India’s Masses Modernize
A G20 policy document prepared by the World Bank says that India has achieved financial inclusion targets in just 6 years which would otherwise have taken at least 47 years. Transaction accounts from approximately one-fourth of adults in 2008 are now over 80 percent” the report says. *UPI: A Unified Payments...
President Biden to Visit India for G-20 Summit
According to the White House, President Biden will travel to New Delhi, to attend this year's annual meeting of the leaders of G-20 which India is hosting as the chair from September 7 to 10. Biden’s upcoming visit will be his first to India as U.S. President; he will be...
Are India’s Clean Energy Initiatives Worthy of Emulation?
Bloomberg reports,"right now, the developed countries that have long been in the vanguard of efforts on climate look to be falling behind. India is taking the initiative, fueled by the growing self-confidence of a country that’s the world’s most populous and seeing the fastest economic growth this year among the...