Latest news with #UNDESA
Economic Times
16-05-2025
- Business
- Economic Times
UN cuts India's 2025 growth outlook to 6.3% from 6.6%
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: The United Nations Department of Economic and Social Affairs (UNDESA) has downgraded India's growth forecast for 2025 to 6.3%, from 6.6% projected earlier, attributing it to trade tensions and policy the downgrade, India will remain one of the world's fastest-growing large economies, supported by strong domestic consumption and government spending, according to UNDESA's 'World Economic Situation and Prospects 2025 mid-year update'. "Resilient private consumption and strong public investment, alongside robust services exports, will support economic growth," it ahead to 2026, UNDESA forecast India's gross domestic product (GDP) growth to recover a tad to 6.4%. Optimism in financial markets, solid gains in stock indices, pick up in manufacturing activity, and increase in exports show that "India's economy is not only holding firm but also making headway in an uncertain global environment", the government said on sector's share in India's economic growth remained steady in the last decade, moving to 17.3% in FY24 from 17.2% in FY14. "This steady growth highlights the sector's increasing role in India's economic landscape," the government April 2, the US imposed a reciprocal tariff of 26% on imports from India. Key sectors such as pharmaceuticals, electronics, semiconductors, and energy were exempted from the duty. President Donald Trump later announced a 90-day pause on the tariff implementation until July 9, although a baseline tariff of 10% remains in the exemptions may soften the economic impact on India, the report noted that these may not be India's exports increased to $824.9 billion in FY25, an increase of 6.01% from $778.1 billion in FY24."Exports, especially in strategic areas like defence production, are expanding steadily," said the government on exports surged to ₹23,622 crore in FY25 from ₹686 crore in FY14. "The tariff shock risks hitting vulnerable developing countries hard, slowing growth, slashing export revenues, and compounding debt challenges, especially as these economies are already struggling to make the investments needed for long-term, sustainable development," said Li Junhua, United Nations Under-Secretary-General for Economic and Social growth in the US will decelerate to 1.6% in 2025 from 2.8% in 2024- below the previous forecast of 1.9%--as higher tariffs and policy uncertainty are expected to dampen private investment and consumption, as per the growth is also expected to slow to 4.6% from an earlier estimate of 4.8%, due to weaker consumer sentiment, disruptions in export-focused manufacturing and ongoing issues in the property sector, it GDP growth is anticipated to fall to 2.4% in 2025 from 2.8%."Slower global growth, elevated inflationary pressures and weakening global trade including a projected halving of trade growth jeopardise progress toward the Sustainable Development Goals," said UNDESA.
Time of India
16-05-2025
- Business
- Time of India
UN cuts India's 2025 growth outlook to 6.3% from 6.6%
Live Events (You can now subscribe to our (You can now subscribe to our Economic Times WhatsApp channel New Delhi: The United Nations Department of Economic and Social Affairs (UNDESA) has downgraded India's growth forecast for 2025 to 6.3%, from 6.6% projected earlier, attributing it to trade tensions and policy the downgrade, India will remain one of the world's fastest-growing large economies, supported by strong domestic consumption and government spending, according to UNDESA's 'World Economic Situation and Prospects 2025 mid-year update'. "Resilient private consumption and strong public investment, alongside robust services exports, will support economic growth," it ahead to 2026, UNDESA forecast India's gross domestic product (GDP) growth to recover a tad to 6.4%. Optimism in financial markets, solid gains in stock indices, pick up in manufacturing activity, and increase in exports show that "India's economy is not only holding firm but also making headway in an uncertain global environment", the government said on sector's share in India's economic growth remained steady in the last decade, moving to 17.3% in FY24 from 17.2% in FY14. "This steady growth highlights the sector's increasing role in India's economic landscape," the government April 2, the US imposed a reciprocal tariff of 26% on imports from India. Key sectors such as pharmaceuticals, electronics, semiconductors, and energy were exempted from the duty. President Donald Trump later announced a 90-day pause on the tariff implementation until July 9, although a baseline tariff of 10% remains in the exemptions may soften the economic impact on India, the report noted that these may not be India's exports increased to $824.9 billion in FY25, an increase of 6.01% from $778.1 billion in FY24."Exports, especially in strategic areas like defence production, are expanding steadily," said the government on exports surged to ₹23,622 crore in FY25 from ₹686 crore in FY14. "The tariff shock risks hitting vulnerable developing countries hard, slowing growth, slashing export revenues, and compounding debt challenges, especially as these economies are already struggling to make the investments needed for long-term, sustainable development," said Li Junhua, United Nations Under-Secretary-General for Economic and Social growth in the US will decelerate to 1.6% in 2025 from 2.8% in 2024- below the previous forecast of 1.9%--as higher tariffs and policy uncertainty are expected to dampen private investment and consumption, as per the growth is also expected to slow to 4.6% from an earlier estimate of 4.8%, due to weaker consumer sentiment, disruptions in export-focused manufacturing and ongoing issues in the property sector, it GDP growth is anticipated to fall to 2.4% in 2025 from 2.8%."Slower global growth, elevated inflationary pressures and weakening global trade including a projected halving of trade growth jeopardise progress toward the Sustainable Development Goals," said UNDESA.
Zawya
09-05-2025
- Business
- Zawya
Strategic Partnership between the UAE and the United Nations (UNDESA) to advance regional digital integration
New York, In line with efforts to strengthen international cooperation and accelerate digital transformation, a milestone event in regional digital collaboration and sustainable development was held at the United Nations headquarters in New York, on the sidelines of the Science, Technology and Innovation for the Sustainable Development Goals Forum. A new partnership agreement was signed between the Government of the United Arab Emirates, represented by H.E. Eng. Majed Sultan Al Mesmar, Director General of the Telecommunications and Digital Government Regulatory Authority (TDRA), and the United Nations Department of Economic and Social Affairs (UNDESA). This partnership represents a practical model for implementing the principles of the Global Digital Compact in support of inclusive digital development. During the meeting, participants discussed implementation mechanisms for the agreement and capacity-building efforts, with a focus on leveraging global best practices and the UAE's successful digital government experience as a framework to achieve regional digital integration. The discussions also emphasized the importance of this partnership in supporting digital transformation efforts across the Arab region, rooted in the principles of the Global Digital Compact, while aligning with local needs and the Sustainable Development Goals. This new collaboration further promotes regional dialogue, knowledge exchange, and forward-looking policy development, in line with the vision of the Global Digital Compact. The UAE's experience continues to serve as an inspiring regional model in this vital field. About TDRA: The Telecommunications and Digital Government Regulatory Authority (TDRA) is responsible for regulating and developing the telecommunications and information technology sector in the United Arab Emirates, while also driving digital transformation at the national level. TDRA works to provide an advanced regulatory environment that supports innovation, stimulates investment, and ensures the delivery of cutting-edge and sustainable telecommunications services. The authority plays a pivotal role in leading the digital transformation journey by developing digital infrastructure, empowering the telecommunications sector, and enhancing the ecosystem of digital government services. TDRA is committed to improving the quality and continuity of digital services by establishing legislative and regulatory frameworks that foster innovation and strengthen the country's readiness to keep pace with rapid digital advancements. Its responsibilities include regulating the telecommunications sector to ensure competitiveness, protecting consumer rights, and maintaining a balance between service providers. Additionally, TDRA leads the national digital government strategy, manages the radio frequency spectrum, and regulates the use of wireless frequencies to support various sectors, including telecommunications and smart services. With a visionary approach, TDRA aims to position the UAE as a global hub for digital innovation and enhance its readiness for the digital future, in alignment with the UAE Artificial Intelligence Strategy 2031 and the UAE Centennial 2071 Agenda.
Bahrain News Gazette
24-04-2025
- Business
- Bahrain News Gazette
iGA Engages in Digital Transformation Dialogue at 2025 MENA eGovernment Workshop
Doha: Mohammed Ali Al Qaed, Chief Executive of the Information and eGovernment Authority (iGA), actively participated in the 'Digital Governments in GCC Countries' session during the 2025 MENA eGovernment Workshop held in Doha. The workshop, organized in collaboration with the United Nations Department of Economic and Social Affairs (UNDESA), took place on April 23 and 24. According to Bahrain News Agency, Al Qaed praised the Gulf Cooperation Council's (GCC) prominent status in the United Nations E-Government Survey 2024, acknowledging their persistent efforts and the collaborative work of ministerial, executive, and technical committees in advancing digital transformation and improving government services for citizens and residents. He also appreciated the continuous sharing of expertise and collaboration with the United Nations through international workshops to enhance digital indicators. Al Qaed emphasized the significance of unified Gulf initiatives to implement the GCC Digital Twinning Programme, designed to extend the successful regional digital transformation framework on a global scale. He highlighted the programme's initial launch by Bahrain in December of the previous year. During his address, Al Qaed showcased Bahrain's digital strategies that propelled the Kingdom to 18th place globally in the UN index. These initiatives include the MyGov app, the revamped eKey system, AI-powered services, and plans to integrate smart government applications. He elaborated on Bahrain's implementation of cloud computing in governmental functions, which has improved service efficiency, supported legislative advancements, and led to specialized training programs for public sector employees. Al Qaed also stressed the necessity of unified login and digital ID systems across the GCC, the development of measurement indicators with the UN, and the enhancement of the Human Capital Index through digital education strategies and international certifications. In discussions on the sidelines, Al Qaed met with Arpine Korekyan, Governance and Public Administration Officer at UNDESA, to deliberate on Bahrain's Digital Twinning Programme with Tunisia and the Comoros, and the potential for broader participation in future phases. They also examined suggestions to aid the development of upcoming UN reports. Both parties highlighted the value of such meetings in sharing expertise and supporting the advancement of UN member states.
Zawya
17-03-2025
- Business
- Zawya
Enhancing public asset management practices in Kenya
Kenya's Infrastructure Asset Management Enabling Environment Roadmap Action Plan proposes clear recommendations to enhance the country's national public asset management practices. UNOPS, the UN Department of Economic and Social Affairs (UN DESA) and the UN Capital Development Fund (UNCDF) worked in close collaboration with Kenya's State Department for Public Works to develop the roadmap. "This roadmap will guide us in strengthening our policies, strategies and actions to ensure that Kenya's infrastructure assets continue to provide inclusive and resilient public services throughout their lifecycle,' said Joel Arumonyang, Principal Secretary for the State Department of Public Works. 'A strategic, data-driven approach ensures that infrastructure investments serve communities efficiently, sustainably and inclusively for generations to come,' said Daniel Platz, Senior Economic Affairs Officer, UN DESA. 'Efficient and cost-effective asset management at national and sub-national level is key to unlocking access to affordable investment capital, especially from the private sector, for improved public service delivery,' said Jenifer Bukokhe Wakhungu, Regional Programme Advisor, Local Climate Adaptive Living, UNCDF. Read more here. Distributed by APO Group on behalf of United Nations Office for Project Services (UNOPS).
