Global trade and tariff uncertainties​ can become catalyst for reforms in India: HSBC Research

New Delhi, (IANS): Global trade and tariff uncertainties could become a catalyst for reforms in India over the medium term and for growth results, the reforms must run deep, an HSBC Research report said on Tuesday.Potential US tariffs may have already become a catalyst for reforms like lowering import tariffs, opening up to regional FDI, fast-tracking trade deals, and making the Indian rupee more flexible."And India does not have to look too far for models to emulate. Its success in services exports has demonstrated the power of moving up the value chain, from basic (call centre services) to high-tech (professional services)," said the report.India's goods trade deficit narrowed sharply in February to $14.1 billion, from $23 billion in January.“The trade deficit tends to narrow in February but this time, it narrowed rather sharply to the lowest in more than three years,” the report mentioned.India's goods trade deficit narrowed to $14 billion and the services trade surplus rose to $18.5 billion, putting the overall trade balance in a rare surplus zone in February.A normalisation in...
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Amazon, Intel, other global giants to slash huge workforce amid AI boom

New Delhi, (IANS): Several major global companies, including Amazon, Morgan Stanley and Goldman Sachs, are planning massive job cuts in 2025 as they focus on reducing costs and streamlining operations in the artificial intelligence (AI) era.The rise of AI and global economic uncertainties are key reasons behind these layoffs.Amazon, one of the world's largest e-commerce companies, is planning to eliminate approximately 14,000 managerial roles, according to reports.The company aims to save around $3 billion annually through this move. CEO Andy Jassy has set a goal to increase the ratio of individual contributors to managers by 15 per cent by the first quarter of 2025.This decision follows Amazon's recent shift to a five-day workweek, which some employees believe is a way to encourage voluntary resignations.According to reports, investment banking giant Morgan Stanley is expected to lay off around 2,000 employees later in March -- 3 per cent reduction in its workforce.These cuts will likely exclude financial advisers. The firm had over 80,000 employees in 2024 and is now looking to restructure...
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Improvement in air quality with decline in pollution levels in India: World Air Quality Report

New Delhi, (IANS) The World Air Quality Report 2024 by Swiss air quality technology company IQAir reveals a positive trend in India’s air quality, despite ongoing challenges.According to the report, India now ranks as the fifth most polluted country globally in 2024, a notable improvement from its third-place ranking in 2023.The country also recorded a 7 per cent decline in PM2.5 concentrations, which dropped from 54.4 micrograms per cubic metre in 2023 to 50.6 micrograms per cubic metre in 2024.While 13 of the world’s 20 most polluted cities are in India, including Byrnihat, Delhi, and Faridabad, this decline signals a step in the right direction for addressing air pollution.Delhi, which remains the most polluted capital city in the world, saw little change in its air quality, with an annual PM2.5 concentration of 91.6 micrograms per cubic metre in 2024, almost identical to 92.7 in 2023.Despite these challenges, India’s progress in reducing air pollution is noteworthy. The decline in PM2.5 levels indicates that the country is making strides in combating air pollution, thanks to various...
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