This week’s headline features a story from Asia :
On January 16 , 2025, President Droupadi Murmu and Singaporean President Tharman Shanmugaratnam unveiled a joint logo marking 60 years of India-Singapore diplomatic relations, highlighting their growing partnership in trade, defence, technology, and skill development, with significant investments and collaborations.
Europe: India and the EU outlined a six-point plan to strengthen economic ties, focusing on trade barriers, sustainable development, technological collaboration, and mutual growth, with plans for a Free Trade Agreement (FTA) and continued cooperation under the Trade and Technology Council.
North America: The Biden administration's "AI Diffusion" framework restricts AI hardware exports, with India in Tier 2 facing limits on GPU imports. Criticized by Nvidia, the rules aim to secure US AI leadership, with enforcement pending under Trump.
South America: Brazil, under President Lula da Silva, rejects China's Belt and Road Initiative (BRI), seeking alternative collaborations with Chinese investors while avoiding binding agreements, aiming to balance national interests and global partnerships.
Asia: India's "Insurance for All" goal by 2047 will be supported by an InsureTech Hub, skill development programs, and collaborations with Singapore to enhance Odisha's FinTech, AI, hospitality, and semiconductor sectors, encouraging innovation and growth.
Australia: Australian Foreign Minister Penny Wong emphasized the Quad's unity in addressing China's influence, highlighted AUKUS defense partnerships, and discussed increased defense spending, including Australia's financial contribution to U.S. nuclear-powered submarines for regional security.
Africa: Indian Oil Corporation (IOC) acquired 7 million barrels of crude oil from the Middle East and Africa to counter reduced Russian supply, reflecting India's growing influence in global oil markets amid U.S. sanctions and shipping disruptions.
