MILK MATTERS: Union Minister Giriraj Singh has asked the commerce ministry to keep dairy sector out of the proposed RCEP free trade pact, voicing reservation on possible import of milk produced by cattle that are given animal feed. Opening of free trade in dairy sector will affect farmers of India, which is the world’s largest producer of milk, the dairy and animal husbandry minister said. The Regional Comprehensive Economic Partnership (RCEP) – a mega free trade agreement being negotiated among 10 ASEAN countries with their six FTA partners (India, China, Japan, South Korea, Australia and New Zealand). The proposed deal is expected to be finalised and signed by the next month.
India, as GDP foretasted as low as 6%, still a fast-growing economy. So even with the recent slowdown, it has growth numbers that are higher than in most countries of the world. It’s still a fast-growing economy with a lot of potential,” World Bank’s Chief Economist for South Asia Hans Timmer told PTI.
PTI
NATIONAL
British Prime Minister Boris Jonson updated Cabinet on the current progress being made in ongoing Brexit negotiations, reiterating that a pathway to a deal could be seen but that there is still a significant amount of work to get there and the must remain prepared to leave on October 31
- High levels of uranium concentration found in groundwater in Telengan
- World Bank cuts India’s growth projection to 6%
- Modi crosses 30 million followers on Instagram
- Pope Francis elevates Indian nun Mariam Thresia to sainthood
- Muslims in India are ‘happiest’, RSS chief Mohan Bhagavat Said.
INTERNATIONAL
CHINA: Chinese President Xi Jinping warned on Sunday that any attempt to divide China will be crushed, as Beijing faces political challenges in months-long protests in Hong Kong and U.S. criticism over its treatment of Muslim minority groups. “Anyone attempting to split China in any part of the country will end in crushed bodies and shattered bones,” he told Nepal’s Prime Minister KP Sharma Oli in a meeting on Sunday, according to China’s state broadcaster CCTV.
- NASA launches satellite to explore the region where air meets space
- Robots could be trained to recognise human emotions, finds study
- Microsoft unveils foldable Android phone, earbuds, ARM-based Surface laptop
ECONOMY TODAY
- World Bank says slowdown in India is severe, cuts GDP forecast to 6%
- India to invest $60 bn in developing gas supply, distribution: Oil minister
- Chinese telecom equipment maker Huawei has asserted that keeping the company out of the 5G play in India will be a “loss” to telecom operators
- Suzuki Motorcycle overtakes Hero MotoCorp to be third largest scooter maker
- IRCTC to make stock market debut on Monday after raising Rs 645 cr in IPO
- Reliance Jio offers 30-minutes free talk time to pacify customers. Previously, Jio user will have to pay 6 paisa/min for calling other operators customers
Eight of the 10 most valued domestic companies together added Rs 80,943.32 crore in market capitalisation last week. In the top-10 ranking, RIL was placed at the numero uno position, followed by TCS, HDFC Bank, HUL, Infosys, HDFC, Kotak Mahindra Bank , ITC, ICICI Bank and Bajaj Finance. During the last week, the BSE Sensex advanced 453.77 points or 1.20 per cent.