The BRICS (Brazil, Russia, India, China, and South Africa) grouping has been the forerunner of global economic and political developments for over a decade. The BRICS countries account for over 40% of the world’s population and over 25% of global GDP. They are also among the fastest-growing economies in the world. India is an important player in the BRICS grouping. It is the second most populous country in the world and the sixth largest economy. India has also been growing swiftly in recent years, with GDP growth comprising over 7% per year over the past decade.
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Para Diplomacy: Driving the Rising Rajasthan Investment Summit
Para diplomacy can be understood as the actions initiated by states, provinces, or cities to establish international relations and promote their commercial interests. It also gives regions leverage to engage foreign investors and governments hence opening doors for partnership and capital investment. Rajasthan has adopted this concept in practicing its tourism policies by holding road shows and investor meets nationally and internationally. Such efforts are in the pursuit of introducing itself to a network of potential investors and marketing the state as the hub of opportunities in different fields.
Indo-China Border: A Perspective on Six-Point Consensus
The 23rd round of discussions between India and China’s special representatives on the boundary issue marks an important milestone in their bilateral relationship, particularly after a prolonged gap of five years. The agreement reached in Beijing, comprising six key points, reflects both progress and the complexities that existed in the India-China border dispute. While this consensus signals both parties desire for stabilising relations, it also highlights the deep seated security challenges that continue to shape the interactions.
The AI Revolution Comes to Drugs
Developing a drug is a complex process that often fails. It begins by identifying a target, such as a protein or gene, associated with a disease. Researchers then search for a molecule that can either block or enhance the target’s activity safely. This can involve screening as many as 1 million compounds before selecting just one or two promising candidates. Software can help to identify such molecules. But generative artificial intelligence (AI) can dream up entirely new ones to test. BCG, a consultancy, estimates that about 65 AI-inspired molecules are currently being tested on humans.
African Economies will Flourish in 2025
In October the IMF described a “two-track growth pattern” in sub-Saharan Africa. On one track are most of the 23 countries with sizeable exports of non-renewable commodities such as oil, gold or diamonds. These include Angola, Nigeria and South Africa. As prices for their exports sagged, their GDPs per person have dropped in the past decade. Most resource-rich countries have also been focused more on dividing the spoils of the boom years than on using the proceeds to build resilient economies.
The World’s Economic Titans this Year
By the start of 2024 high inflation had forced the Federal Reserve to raise interest rates to 5.5% – their highest level for more than two decades. Many expected America to have a recession. Instead, its economy has boomed. In the third quarter it grew by 2.8% year on year – a full percentage point more than forecast in July. America’s unemployment rate is around 4%, well below the average of the past 30 years. And inflation is finally coming down. Output per person is 40% higher in America than in Western Europe and Canada and 60% higher than in Japan.
The Biggest Election Surprises this Year
Donald Trump’s first presidential win, in 2016, was shocking. His victory in 2024, was even more extraordinary. It came after he had incited his supporters to try to violently overturn the result of the 2020 election. He then had to weather about 90 felony indictments. In April 2024 he became the first former president to stand in a criminal trial. Drama in the courtroom aside, by early summer the presidential contest seemed almost dull. Trump easily secured the Republican nomination and held a clear lead over his 81-year-old Democratic opponent, Joe Biden.
Artificial Intelligence: Thriving or Teetering?
The artificial intelligence (AI) industry was caught between euphoria and caution. Alphabet (Google), Amazon, Meta and Microsoft raced to invest, spending nearly $200 billion on AI infrastructure. Nvidia, the leader in AI-chip production, reaped gigantic rewards. Sales of such chips are expected to have doubled in 2024, driving its valuation to nearly $3.4 trillion. Demand for AI servers surged: firms such as Dell and HPE reportedly doubled their sales. But cracks began to show. The soaring energy costs of training and running generative AI models raise questions about long-term economic viability.
Special Packages: Unpacking India’s Fiscal Federalism
Earlier this year, the chief ministers of Bihar and Andhra Pradesh had demanded special financial packages for their respective states from the Centre. Special Packages for both states were announced in the Union Budget 2024-25. The issues catered in the package ranged from subjects like Irrigation, Flood Mitigation, Purvodaya: Vikas Bhi, Virasat Bhi, Airports, Medical Colleges, Sports Infrastructure, Highways, Industrial Corridors and Tourism development. Special Packages refer to the support provided to states facing geographical and socio-economic challenges, offering them additional financial assistance and other benefits.
Israel’s Ceasefire in Lebanon and Iran’s Next Move
Iran analysts live by two core assumptions: that the country wants to fight Israel through proxies, rather than directly, and that it doesn’t want all-out war. Both now look fragile. Iran launched missiles at Israel in April and October, both in retaliation for Israeli attacks. Most of the missiles were intercepted. But now Iran appears weaker: Israeli strikes on Iranian military facilities on October 26th struck a blow to its defences and its strategy. And the killing of Hizbollah’s top ranks dealt a blow to the “axis of resistance”, a group of militias backed by Iran.