This week’s headline features a story from Asia :
Chinese AI startup DeepSeek has disrupted the tech industry with its cost-effective model, DeepSeek R1, rivaling OpenAI and impacting US tech stocks, including Nvidia. Founded by Liang Wenfeng in 2023, DeepSeek aligns with China's push for AI self-sufficiency but faces global scrutiny over data security and censorship. Its efficiency challenges the notion that advanced AI requires extensive computing power, raising concerns about US dominance. Experts warn that its rise could deepen tech tensions between China and the West.
Europe: Prime Minister Modi will co-chair the AI Action Summit in Paris with President Macron on February 11, discussing ethical AI development. During his visit, he will meet French CEOs to boost economic ties and hold bilateral talks with Macron on February 12. India will open a new Consulate in Marseille.
North America: PM Modi and former US President Trump reaffirmed their commitment to strengthening the US-India strategic partnership, particularly in the Indo-Pacific region. They emphasized the importance of collaboration within the Quad framework and vowed to deepen bilateral cooperation in areas like defence, technology, and regional stability.
South America: India is expanding investments in Argentina's mining, gas, and oil sectors, focusing on lithium in the Catamarca province to support clean energy goals. State and private firms are exploring opportunities, with plans to announce developments in six months. India also aims to partner on LNG exports with Argentina's YPF.
Asia: The 3rd India-Japan Steel Dialogue, held on February 4, 2025, in New Delhi, focused on bilateral cooperation in the steel sector. Discussions covered trade, green steel initiatives, and global challenges like the EU CBAM. Both nations committed to technology sharing, skill development, and strengthening strategic ties under their 2020 cooperation framework.
Australia: Australia plans to invest $200 million to support business growth in India, focusing on sectors like textiles, agriculture, and automotive. The Australian High Commissioner, Philip Green, highlighted strong export growth between the two nations, with India's exports to Australia rising by 66%. The second phase of the India-Australia free trade agreement is eagerly anticipated.
Africa: India is expanding its global port operations, focusing on Africa, West Asia, and Myanmar. Plans include scaling up Chabahar Port's capacity to 100,000 TEUs by FY26 and developing Sittwe and Kankesanthurai ports. India is also exploring greenfield port projects, aiming to strengthen maritime influence and trade connectivity worldwide.
