India, China, Brazil ready to lead the world economy - failure of G8 the so called club of rich puts G20 in focus : Manmohan Singh
Shenath Ramachandran
Sep. 26, 2009

Brazil, India, and China are on focus. G20 has taken the lead over G8. Prime Minister Manmohan Singh has welcomed a decision to make the Group of 20 as the premier forum for global economic decisions, saying the views of fast growing developing countries like India, China and Brazil have to be taken into account for optimum impact.

Indian prime minister said the Group of Eight, the once elite club of rich industrial nations, was ''ill-equipped'' to handle all global issues.

''Interdependence in a globalised world means that no country, however powerful it may be, can take on the entire burden of economic adjustment and economic decision-making,'' he said. ''It is that perception and that reality which has, I think, persuaded many people in Europe and the United States that this G8 is ill-equipped to handle all the global issues,'' he said.

India, China, Brazil ready to lead the world economy - failure of G8 the so called club of rich puts G20 in focus : Manmohan Singh
Shenath Ramachandran
'It is that perception and that reality which has, I think, persuaded many people in Europe and the United States that this G8 is ill-equipped to handle all the global issues' : Prime Minister of India
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Indian Finance Minster confident of attaining 6 per cent economic growth
Reena Halder
Finance Minster Pranab Mukherjee on Friday said that the country would attain 6 per cent economic growth despite sluggish monsoon and drought like situation.
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900,000 employees of Indian banks plan to strike work on Aug. 6 and Aug. 7 for higher wages
Media Release
Staff at state-run banks, which dominate banking in India, and some private sector and foreign banks would participate in the strike, C.H. Venkatachalam, convenor of the United Forum of Bank Union, said.
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Indian Directorate General of Civil Aviation (DGCA) threatens to take severe action against private airlines for strike on August 18 but the problem is different
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The eventual solution is that these airlines have to consolidate. They rely too much on Government controlled fuel price, airport facilities and upper middle class pseudo income from America and Europe. The business model is faulty.
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India starts action for getting back black money belonging to Indians from Swiss banks
Babu Ghanta
Indian Prime Minister Manmohan Singh told the Rajya Sabha on Thursday that 'action has already started' for getting back black money belonging to Indians from Swiss banks.
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Pakistan, Bangladesh and other countries dumped Rs 1,80,000 crore of fake money into Indian economy
Special Correspondent
This is a new terror threat from Pakistan and other foreign nations. Indian economy faces hyper inflation because of mountains of fake money in circulation.
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Air Indian cancelled the acquisition of five Boeing 777 aircrafts and also put a claim of $ 710 million on the plane-maker for its failure to deliver 27 B-787 aircrafts
Sunita Parikh
Boeing has failed to deliver its B-787 aircrafts ordered by the airline causing huge business losses to the company. The entire schedule of AI has gone haywire.
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Indian food inflation at 70% per year - stagflation precedes depression just like the US economy
Babu Ghanta
Just in one week food prices are up 1.2% with skyrocketing vegetable prices, zooming fish, meet, and egg prices. On top of that transportation costs are moving up rapidly.
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Russia Loses India as Second Largest Defense Customer - India will be buying American weapons
Media Release (Pravda.Ru)
From now on India will be buying American weapons. The USA and India came to such an agreement during Hillary Clinton’s visit to Delhi on July 20. India has been using Russian and Soviet weapons for 50 years.
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