Latest news with #Kouame
Indian Express
9 hours ago
- Indian Express
Foreigner arrested at Mumbai airport for smuggling cocaine worth Rs 11 crore from West Africa
Officers with the Directorate of Revenue Intelligence (DRI) on Sunday arrested an Ivory Coast national at Mumbai's Chhatrapati Shivaji Maharaj International airport for allegedly smuggling cocaine worth Rs 11.39 crore into India from a West African country. The accused foreigner, identified as Ane Charles Joselin Kouame, had concealed the cocaine-stuffed capsules by ingesting them. The agency suspects a large-scale racket could be behind the smuggling. The central agency on Sunday stated that on receiving specific intelligence regarding an Ivory Coast national who would be smuggling narcotics into India, DRI officers intercepted a male passenger who had arrived at Mumbai airport from Sierra Leone on Thursday. During questioning, Kouame admitted to having ingested capsules containing narcotic drugs for smuggling them into India. He was immediately admitted to a nearby government hospital. During his stay at the hospital over the past two days, the foreigner has expelled 67 capsules containing 1.139 kg of cocaine, which is valued at Rs 11.39 crore in the international illicit market, the DRI stated. The recovered cocaine was seized under provisions of the Narcotic Drugs and Psychotropic Substances (NDPS) Act, 1985, and the accused passenger was subsequently placed under arrest. The DRI is further probing the matter and trying to find out details of the person who was supposed to receive the contraband from the accused, who was playing the role of a carrier in lieu of a commission, sources said. The agency is also checking if the accused had come to India in the past with the intention of smuggling, sources added.
Times of Oman
01-03-2025
- Business
- Times of Oman
India can produce and sell technology at a lower cost than China: World Bank
New Delhi: India has the potential to produce technology at a lower cost than China if it can master and manufacture it efficiently, said World Bank Country Director Auguste Tano Kouame. He highlighted that India's large workforce gives it a competitive edge in the global market. In an exclusive conversation with ANI, Kouame explained how economic growth affects a country's ability to compete. "From an economic perspective, when countries experience income growth, their comparative advantage shifts. Typically, as incomes rise, labor costs increase, making it harder to compete with lower-cost economies. So today, if you take a given technology, assuming India masters that technology produce it, it will produce it at a lower cost China and be able to sell it at a lower cost China. So of course, the rest of the world would buy from India," he said. The key question, according to Kouame, is identifying the industries where India has a cost advantage. While China is known for its efficiency and speed, India has the potential to match or even surpass it in certain sectors. One such area is green technology. India's domestic market already demands green solutions, making it a promising sector for development. By focusing on green technology, India can build expertise, meet domestic needs, and position itself as a global supplier of eco-friendly products. He said, "India's domestic market already demands green technology solutions, and by focusing on this sector, India can develop expertise quickly". Beyond green technology, India also benefits from strong trade ties with various countries. If India can manufacture efficiently at a lower cost, it can become a preferred global trading partner. He added, "I think India should have the confidence. Also, that as a trading partner, India has good relationship with many countries in the world. So if India can really produce at a lower cost and more efficiently, you know, we can be hopeful that other countries will want to buy. India can be a good exporter for goods and services." While India has significant potential, challenges remain. One major challenge is job creation. With a rapidly growing workforce, India needs to ensure enough employment opportunities. If enough jobs are created, it will not only strengthen the labour market but also drive economic growth and social inclusion. Another challenge is sustaining high growth in a tough global economic environment. While India has a strong domestic market, it also depends on exports. However, global trade restrictions and slowing economic growth worldwide make it harder to access international markets. India must navigate these obstacles strategically. Despite these challenges, he noted that India has consistently grown at an average of over 7 per cent in the past three to four years, even during unfavourable global conditions. The COVID-19 pandemic and rising trade barriers did not significantly slow down India's growth. Kouame that by implementing key internal reforms, investing in strategic industries, and leveraging its workforce, India can strengthen its global position. If done right, India can not only compete with China but also move closer to its goal of becoming a developed country by 2047.
