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<ul><li>The Indian government is reportedly working on guidelines for adoption of a common charger in the country.</li><li>Companies will be required to offer USB Type-C ports for devices like phones, laptops, tablets, Bluetooth earphones and other portable devices.</li><li>The EU had passed similar rules earlier this year, mandating all companies to offer a USB Type-C port in their devices.</li></ul>The <keyword id="6355110" type="General" weightage="80" keywordseo="european-union" source="Orion">European Union</keyword> (EU) earlier this year announced new rules around chargers, mandating companies to offer a common charger for all small devices such as smartphones and tablets in a bid to reduce electronic waste. According to a PTI report, the Indian government is exploring the adoption of similar rules. The government has called for a meeting on August 17 to discuss the rules with smartphone makers and other industry organisations. The EU had announced that all small electronics that can be charged should offer a USB Type-C port from 2024. <keyword id="3658" type="General" weightage="100" keywordseo="india" source="Orion">India</keyword> is expected to roll out similar rules for devices like smartphones, tablets, laptops, Bluetooth earphones, Bluetooth speakers and more. "If companies can serve in Europe and the US, why cannot they do it in India? Portable electronic devices like smartphones and tablets should have a common charger," an official told PTI. The official added that the government is worried that once the EU rules come into force, such products may be dumped in India. Considering this, we can expect the Indian government to enforce the rules at the same time as the EU, in 2024. <cmsannotation type="cmsannotation" annotationid="Apple to be impacted" comment="subhead" text="Apple to be impacted"><keyword id="6354427" type="General" weightage="80" keywordseo="apple" source="Orion">Apple</keyword> to be impacted</cmsannotation> Apple was one of the most <a href="https://www.reuters.com/article/us-eu-apple-charger-idUSKBN1ZM2EV">vocal critics</a> of the EU's proposal for a common charger, going as far as claiming that this move would hamper innovation and create a mountain of electronic waste. Apple uses its proprietary Lightning connector in devices like iPhones, AirPods and more. It will face the biggest impact of the new rules as it is one of the few companies that does not offer a USB Type-C port with all of their devices. Some of the laptop makers such as Dell, HP and Asus will also have to change the charger offered with their affordable devices. Most of the laptops from these companies already have a USB Type-C port so adopting this for their affordable laptops should not be an issue. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/news/indian-government-is-reportedly-planning-on-restricting-xiaomi-realme-vivo-and-oppo-from-the-budget-smartphone-segment/articleshow/93432631.cms">Indian government is reportedly planning on restricting Xiaomi, Realme, Vivo and Oppo from the budget smartphone segment</a> <a href="https://www.businessinsider.in/business/auto/news/ola-electric-may-finally-introduce-its-first-electric-car-on-august-15/articleshow/93362208.cms">Ola Electric may finally introduce its first electric car on August 15</a> <a href="https://www.businessinsider.in/finance/news/upi-transactions-reach-a-new-high-cross-the-6-billion-mark-in-july-2022/articleshow/93297345.cms">Over 200 million UPI transactions were done each day in July 2022</a>

After EU, India wants companies to offer a common charger for all devices

<keyword id="22215344" type="General" weightage="20" keywordseo="German-businesses" source="keywords">German businesses</keyword> see <keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> as a very "stable place" to <keyword id="19954634" type="General" weightage="20" keywordseo="invest" source="keywords">invest</keyword>, said the country's Ambassador <keyword id="20424857" type="General" weightage="20" keywordseo="philipp-ackermann" source="keywords">Philipp Ackermann</keyword> on Friday, while anticipating increased German <keyword id="19895437" type="General" weightage="20" keywordseo="investment" source="keywords">investment</keyword> in India after the India-EU Free <keyword id="19900989" type="General" weightage="20" keywordseo="trade" source="keywords">Trade</keyword> Agreement resolves tax and tariff "impediments". In an interview with ANI, Ackermann also informed about the possible visit of German Chancellor Olaf Scholz in October this year, during which <keyword id="20766370" type="General" weightage="20" keywordseo="business-relations" source="keywords">business relations</keyword> and trade relations would be on the agenda. Ackerman noted that migration will also be a key item for discussion. Speaking on the sidelines of the release of the German India Business Outlook 2024 survey, Ackerman said, "The survey has given us an impression that <keyword id="22215345" type="General" weightage="100" keywordseo="german-business-in-india" source="Orion">German business in India</keyword> is extremely bullish on India. The surveys found that almost 80% of German businesses want to expand their businesses, want to reinvest, build up more factories, and invest more in India." "The German businesses see enormous potential in the Indian market. It sees the very impressive growth rates of India. That makes them very happy. After elections again, they find it a very stable place to invest," the ambassador expressed. Philipp Ackermann termed the long-pending India-EU Free Trade Agreement a "game changer". He mentioned that no specific deadline has been set for signing the Free Trade Agreement, stating that "it will take some time." "There is no deadline because the <keyword id="20000557" type="General" weightage="20" keywordseo="FTA" source="keywords">FTA</keyword> relationship is very complicated and it has to take time. We have now seen the ninth round, if I'm not mistaken, which just finished a day or two ago. We are in the process of negotiating the German government is very much behind this," he said "We feel that the FTA is very important for our business; it will be even more so if it is a game changer. So I'm very hopeful that at some stage we come to a conclusion, but don't ask me about the timeline. I think it will take some time," he added. When asked what impact the FTA will have on the Indo-German trade relationship, the envoy said that tariffs and taxes are one of the reasons German companies say might impede investment, and with an FTA, the tariff side will be solved. "For many German companies, an FTA will bring a clear solution and regulation on tariffs and trade and it would be a great gift for their business," he added. The proposed trade deal with the EU is one of the most complex FTAs being negotiated by India. There has been no breakthrough despite several rounds of talks. On June 17, 2022, the European Union relaunched negotiations with India for a Free Trade Agreement, and launched separate negotiations for an Investment Protection Agreement and an Agreement on Geographical Indications (GIs). The mandator also gave details about the possible visit of German chancellor Olaf Scholz, saying the chancellor will travel to Delhi and parts of his cabinet, including the German ministers, will accompany him and sit down with their Indian counterparts to develop coming programmes and projects and the roadmap. "So we expect that to happen in the second half of October sometime. The dates have not been finalised yet. But it is a very, very good moment to sit down, compare notes, and say, Where is this apprenticeship going?" he added. "We will try to develop the future of this partnership during these consultations. Other items on the agenda are certainly business relations and trade relations, but also migration, which is a very interesting issue within and certainly does politics as usual," he said.

German businesses see India as a stable place to invest, says German ambassador Philipp Ackermann

<ul class="summary-list"><li>The economist who coined the term BRICS says the bloc's plans for a common currency are ridiculous.</li><li>Jim O'Neill rejected the possibility of the group of countries challenging the dollar's dominance.</li></ul>Lord Jim O'Neill, a former Goldman Sachs economist who first gave the BRICS bloc its name, has slammed the idea of the five nations ever collaborating to create a common currency. The group — which comprises Brazil, Russia, India, China, and South Africa — <a href="https://markets.businessinsider.com/news/currencies/brazil-president-de-dollarization-lula-brics-nations-currency-china-yuan-2023-4?_gl=1*1gzsnxq*_ga*MTY1MDQ2MjYyMy4xNjMyMTUxMDM0*_ga_E21CV80ZCZ*MTY5MDgyMzE0Ny41NTkuMC4xNjkwODIzMTQ3LjYwLjAuMA..&amp;utm_medium=ingest&amp;utm_source=markets">has been calling for ways</a> to end the dollar's dominance as the world's premier reserve currency, and Brazilian President Luiz Inácio Lula da Silva has called for a common trading note between them. But O'Neill, who coined the bloc's name in a 2001 research paper, is unconvinced. "It's just ridiculous," <a href="https://www.ft.com/content/d8347bd0-cc4f-4c3b-9225-0ccd272330a6" target="_blank" rel="noopener">he told the Financial Times</a> in an interview on Monday. "They're going to create a BRICS central bank? How would you do that? It's embarrassing almost."The economist spoke ahead of the 15th BRICS summit next week, where the nations will meet to decide whether to expand membership to other countries and may also float the idea of the common currency — though South Africa denies that this is on the agenda. <a href="https://markets.businessinsider.com/news/currencies/dedollarization-charts-dollar-chinese-yuan-russian-ruble-brics-currency-analysis-2023-7">Dedollarization is the latest buzzword</a> to capture the market's imagination and refers to efforts aimed at undermining the greenback's command of global trade by promoting the use of other currencies. Proponents of the idea point to the fact that the dollar's share of global reserves has fallen over the past two decades — though it still makes up nearly 60% of the world's foreign-exchange holdings, according to the International Monetary Fund. In the interview, O'Neill criticized the dollar's role in directing the movements of other currencies around the world. "The dollar's role is not ideal for the way the world has evolved," he said. "You've got all these economies who live on this cyclical never-ending twist of whatever the [US Federal Reserve] decides to do in the interests of the US." But he does not see a future in which the renminbi, yen, or euro can surpass the US currency. "None of these things will ever happen until those countries want to have their currencies used by people in other parts of the world," he said.

The idea of a BRICS common currency is almost 'embarrassing,' the economist who named the group says

<ul class="summary-list"><li>India will require mobile devices sold in the country to have the USB-C charging port by March 2025.</li><li>The government will find two types of charging ports for mobile devices and wearable electronics.</li></ul>India will require mobile devices in the country to have the USB Type-C standard charging port by March 2025, <a href="https://www.business-standard.com/article/economy-policy/india-makes-usb-type-c-charging-must-for-device-makers-from-march-2025-122122700779_1.html" target="_blank" rel="noopener">Business Standard reported</a>.The Bureau of Indian Standards is setting standards for two common types of chargers — one for mobile devices and possibly another one for wearable electronics, like smartwatches, Rohit Kumar Singh, secretary to the Ministry of Consumer Affairs said.The Ministry of Environment may look at the impact of having a common charger for electronics on e-waste, Business Standard reported.The requirement <a href="https://www.businessinsider.com/apple-usb-c-iphone-eu-rule-date-2022-12">follows suit of the European Union</a>, which set a December 28, 2024, deadline for all smartphones sold in member states to have the USB-C charging port."There is a broad consensus among the industry and government that the use of USB type C charging ports can be made mandatory after six months of the European Union's rolling out of standards for USB charging ports in 2024 as electronic manufacturers have a global integrated supply chain," Singh told Business Standard.In 2019, India <a href="https://www.counterpointresearch.com/india-surpassed-usa-become-second-largest-smartphone-market-world-reaching-158-million-shipments-2019/" target="_blank" rel="noopener">knocked the US out</a> of second place for the largest market for smartphones because of the expansion of Chinese smartphone brands. Androids <a href="https://www.statista.com/statistics/262157/market-share-held-by-mobile-operating-systems-in-india/#:~:text=Share%20of%20mobile%20operating%20systems%20in%20India%202012%2D2021&amp;text=In%202021%2C%20Android%20held%20a,with%203.1%20percent%20market%20share.">have an almost 96% share</a> of the mobile devices market in India, while Apple is in second place with 3.1% of the market share.Apple is reluctant to ditch its proprietary Lightning charging port, which is on all of its iPhones and some iPads. But the company <a href="https://www.businessinsider.com/usb-c-iphone-coming-apple-not-happy-force-ditch-lightning-2022-10">confirmed that it will</a> make iPhones with a USB-C port to comply with EU laws. The company doesn't seem too thrilled about it. Greg Joswiak, Apple's senior vice president of worldwide marketing, said it will "obviously" be forced "to comply" with the new law, at <a href="https://twitter.com/i/broadcasts/1lDxLnDlbDYGm?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1585100274657419264%7Ctwgr%5E5f52e33a23aa27e6444604dffe9a5a9253f0d0dc%7Ctwcon%5Es1_&amp;ref_url=https%3A%2F%2Fwww.theverge.com%2F2022%2F10%2F26%2F23423977%2Fiphone-usb-c-eu-law-joswiak-confirms-compliance-lightning">The Wall Street Journal's Tech Live conference</a>. He added that Apple "doesn't mind governments telling us what they want to accomplish," but that Apple's engineers are "pretty smart" and have figured out better ways to accomplish things before.For example, Joswiak said, Apple created the industry standard for hearing aids made for iPhone after the US government's regulation for hearing aid compatibility with mobile phones didn't work.The <a href="https://www.europarl.europa.eu/news/en/press-room/20220603IPR32196/deal-on-common-charger-reducing-hassle-for-consumers-and-curbing-e-waste">European Parliament said</a> in June that the standard charging port legislation is "part of a broader EU effort to make products in the EU more sustainable, to reduce electronic waste, and make consumers' lives easier."According to the European Parliament, chargers that are thrown away <a href="https://www.europarl.europa.eu/news/en/press-room/20220603IPR32196/deal-on-common-charger-reducing-hassle-for-consumers-and-curbing-e-waste">make up 11,000 tons of e-waste</a> each year, and it believes having a standard charger will help EU consumers <a href="https://ec.europa.eu/commission/presscorner/detail/en/IP_21_4613'" target="_blank" rel="noopener">save up to 250 million euros a year</a> from having to buy more chargers. Apple <a href="https://www.counterpointresearch.com/us-market-smartphone-share/">holds the largest share</a> of the US smartphone market, taking up 48% of the market share in the second quarter of 2022. Samsung is next, with 30% of the market share in the same quarter, and Lenovo is third with 9% of the market share. Samsung and Lenovo smartphones mostly use USB-C or MicroUSB chargers.

India joins EU in mandating USB-C charging port on smartphones, as Americans still have to deal with 3 different types of ports and cables

<ul class="summary-list"><li>Warren Buffett and Vivek Ramaswamy differ in their political views but have some things in common.</li><li>They like bargains and holding companies, and worry about the impact of social issues on business.</li></ul>Warren Buffett and Vivek Ramaswamy are generations apart and hold vastly different political views, but they do have at least three things in common. Both men are bargain hunters with similar taste in corporate structures, and worry about the intersection of business and social issues, albeit for different reasons.Buffett, 93, is a value investor who specializes in spotting underpriced assets and paying as little as possible for them. Ramaswamy — a 38-year-old biotech entrepreneur with a nearly $1 billion net worth who's running to be the next US president — became rich by purchasing abandoned drugs from pharmaceutical companies at rock-bottom prices, successfully bringing them to market, then selling them for a fortune.Buffett, the CEO of <a href="https://markets.businessinsider.com/stocks/brk-b-stock">Berkshire Hathaway</a>, became a centibillionaire by buying and holding stocks like Apple, Coca-Cola, and American Express that have soared in price over the years. He's also purchased businesses like Geico, See's Candies, and the BNSF Railway that have ballooned in value under his ownership.As for Ramaswamy, his Roivant holding company bought an experimental Alzheimer's medicine for $5 million in 2015, then took public the subsidiary that owned it at a <a href="https://www.businessinsider.com/axovant-alzheimers-drug-bought-by-vivek-ramaswamy-2015-6">$3 billion valuation</a> in 2015. However, the drug ultimately failed medical trials, and shareholders voted to dissolve the subsidiary earlier this year. Roivant also developed and secured regulatory approval for five other drugs, resulting in the sale of five subsidiaries to a Japanese company in a <a href="https://www.prnewswire.com/news-releases/sumitomo-dainippon-pharma-and-roivant-sciences-sign-definitive-agreement-for-strategic-alliance-300949110.html" target="_blank" rel="noopener">$3 billion deal</a> in 2019. Ramaswamy has also notched big returns as a money manager in recent years. For example, he purchased shares of Pharmasset, which was acquired by Gilead, and Inhibitex, which was purchased by Bristol-Myers Squibb, <a href="https://www.forbesindia.com/article/cross-border/vivek-ramaswamy-boy-in-the-bubble/41103/1" target="_blank" rel="noopener">according to Forbes India</a>.Perhaps unsurprisingly, the presidential candidate has signaled he wants to emulate at least one aspect of Buffett's career. He told Forbes India in 2015 that his goal was to create the "Berkshire Hathaway of drug development."Ramaswamy was likely nodding to Berkshire's enormous scale — it has <a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-trillion-assets-big-tech-tesla-nvidia-2023-8">$1 trillion of assets</a> and its nearly $800 billion market capitalization ranks it among the world's most-valuable companies — and the conglomerate's vast web of decentralized, autonomous subsidiaries.Separately, the Republican upstart — who portrays himself as an "anti-woke" crusader — has railed against what he sees as corporate virtue-signaling on climate change and social justice. He's also <a href="https://corpgov.law.harvard.edu/2022/10/25/the-esg-fiduciary-gap/" target="_blank" rel="noopener">accused</a> investment managers of breaching their fiduciary duties by pursuing social agendas.<a href="https://markets.businessinsider.com/news/stocks/warren-buffett-berkshire-hathaway-maga-index-investor-backed-obama-clinton-2020-10-1029746635">Buffett is a Democrat</a> who advised President Barack Obama and stumped for Hillary Clinton during her first presidential run in 2016, so it's safe to say he doesn't share those views. But in the past couple of years, he's opted not to speak out about political issues, as doing so could spark boycotts and protests against his companies that could harm his employees and shareholders."I've decidedly backed off," Buffett <a href="https://buffett.cnbc.com/video/2022/05/02/afternoon-session---2022-meeting.html" target="_blank" rel="noopener">said</a> during Berkshire's annual meeting last year. "I don't want to say anything that'll get attributed, basically, to Berkshire, and have somebody else bear the consequences of what I talk about."Buffett and Ramaswamy clearly differ on several fronts. But when it comes to sniffing out bargains, structuring their companies, and asking whether executives should hold forth on the hot-button issues of the day, they're more closely aligned.

Warren Buffett and Vivek Ramaswamy are miles apart politically. But the investing icon and Republican upstart have these 3 things in common.

<ul class="summary-list"><li>The BRICS group of emerging nations is exploring the idea of a common currency.</li><li>But China and India — the two biggest economies in the bloc — often can't get along.</li></ul>Whether it's the Chinese yuan or gold or even bitcoin, a discussion about <a href="https://www.businessinsider.com/dedollarization-usd-greenback-gold-yuan-euro-bitcoin-brics-alternate-2023-5#the-dollar-isnt-going-away-but-other-assets-classes-are-slowly-chipping-away-at-its-dominance-1">alternatives to the US dollar</a> as the world's reserve currency has been raging for over a year.Fanned by fears that <a href="https://www.statestreet.com/sg/en/asset-manager/insights/weaponization-of-us-dollar" target="_blank" rel="noopener nofollow">Washington is weaponizing</a> the US-dollar-denominated global financial system against Russia over the Ukraine war, the debate has gotten so intense that there was even talk during a bloc summit in August about <a href="https://markets.businessinsider.com/news/currencies/de-dollarization-dominance-yuan-china-brics-alternative-currency-sanction-russia-2023-4?utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" target="_blank" rel="noopener noreferrer">creating a dollar-challenging common BRICS currency</a>.The bloc is helmed by the major emerging nations of Brazil, Russia, India, China, and South Africa.And one expert — the former White House economist Joseph Sullivan — even said a BRICS single currency could erode the dominance of <a href="https://markets.businessinsider.com/news/currencies/de-dollarization-dominance-yuan-china-brics-alternative-currency-sanction-russia-2023-4" target="_blank" rel="noopener">the dollar</a>.Creating a common currency isn't easy, however, and would require the diverse <a href="https://theconversation.com/a-brics-currency-is-unlikely-to-dislodge-dollar-any-time-soon-but-it-signifies-growing-challenge-to-established-economic-order-206565" target="_blank" rel="noopener">BRICS countries to align</a> on several issues, including setting up a central bank and phasing out their currencies.For example, <a href="https://european-union.europa.eu/institutions-law-budget/euro/history-and-purpose_en" target="_blank" rel="noopener">the euro</a> took decades of preparation within Europe, and the currency's use globally is still a far second to the US dollar's. In August, the greenback accounted for 48% of global payments via the SWIFT messaging system — way ahead of the euro's share at 23%.There's also one other problem. India and China — the two biggest economies in the bloc — can't quite get along.Even Jim O'Neill, the former Goldman Sachs chief economist who came up with the BRIC acronym in 2001 (South Africa joined the bloc in 2010 to round up BRICS) has been fielding interview questions about the proposed idea of a BRICS single currency on repeat mode recently."You can't even get India and China in the same room, so the idea that they would commit to a shared currency and abandon their own domestic monetary policy, it's just kind of crazy," O'Neill told Insider.Other analysts also described relations between China and India as tense.<h2>China-India's terse relations are said to be a 'pain point' in the BRICS bloc</h2>While Beijing and New Delhi appear actively engaged with each other, the two counties' ties have been strained. In short, they appear to be <a href="https://economictimes.indiatimes.com/news/defence/world-can-learn-from-frenemies-india-china-akbaruddin/articleshow/63414400.cms" target="_blank" rel="noopener">frenemies</a>.China and India's relationship <a href="https://www.mea.gov.in/Portal/ForeignRelation/China_October_2017.pdf" target="_blank" rel="noopener">goes back centuries</a>, but the two have been embroiled in a territorial dispute along their shared Himalayan border in contemporary history — and even fought a war in 1962.While recent decades have been more amicable, the neighbors have appeared to be getting deeper into frenemy territory since 2020 amid the <a href="https://www.businessinsider.com/india-china-border-dispute-conflict-soldiers-killed-himalayas-2020-6" target="_blank" rel="noopener">border dispute</a> and rising nationalism in both <a href="https://www.economist.com/special-report/2021/01/21/how-nationalism-is-shaping-chinas-young" target="_blank" rel="noopener">China</a> and <a href="https://www.foreignaffairs.com/articles/india/2022-04-13/unstoppable-rise-hindu-nationalism" target="_blank" rel="noopener">India</a>.The two sides appeared to make up in August at the BRICS summit in Johannesburg, when China's leader, Xi Jinping, and Indian Prime Minister Narendra Modi agreed to de-escalate tensions at the disputed border.Barely a month later, the relationship was again in question when Xi did not attend the <a href="https://www.reuters.com/world/china-says-premier-li-will-attend-g20-summit-2023-09-04/" target="_blank" rel="noopener">G20 Summit</a> in New Delhi — the first time since 2008 when he didn't attend the conference. Beijing didn't explain Xi's absence, and Premier Li Qiang led the Chinese delegation instead.Liu Pengyu, China's Washington, DC, spokesperson, told Insider that Xi most recently spoke with Modi on the sidelines of the BRICS summit — at the request of the Indian leader."President Xi stressed that improving China-India relations serves the common interests of the two countries and peoples, and is also conducive to peace, stability, and development of the world and the region," said Liu, who added that the situation at the border was stable.Politics aside, it doesn't help that the two countries have become strategic competitors on the economic front, too. China, the world's second-largest economy, is worth $19.4 trillion, per the International Monetary Fund. India is the world's fifth-largest economy, with a gross domestic product of $3.7 trillion. There's little indication India's GDP will overtake China's in the <a href="https://www.goldmansachs.com/intelligence/pages/how-india-could-rise-to-the-worlds-second-biggest-economy.html" target="_blank" rel="noopener">next five decades</a>, but there's still no denying the world's top two emerging markets are fierce rivals.By UN estimates, India overtook China earlier this year as the world's most populous country. As a large country with a young population — the <a href="https://www.pewresearch.org/short-reads/2023/02/09/key-facts-as-india-surpasses-china-as-the-worlds-most-populous-country/" target="_blank" rel="noopener nofollow">median age is 28</a> — it's an enticing draw for companies looking to diversify their risks beyond China, which has been the <a href="https://www.businessinsider.com/china-india-supply-chain-covid-sanctions-manufacturers-relocating-tariffs-options-2022-12" rel="">factory of the world</a> for 40 years.Among the five BRICS members, the "biggest pain point" is India-China friction, Abishur Prakash, the founder of the advisory firm The Geopolitical Business, told Insider. He added it's "highly unlikely either country will rely on a currency dominated by the other party."And given that China and India are the biggest players in BRICS, it's crucial they must at least come to some common ground for a common currency to happen, O'Neill said.For what it's worth, the August <a href="https://markets.businessinsider.com/news/currencies/dedollarization-china-india-russia-leaders-brics-summit-yuan-rupee-2023-8" target="_blank" rel="noopener">BRICS summit</a> ended with no new currency and all five members issuing differing and contradictory commentary on de-dollarization. It also appears that it's just <a href="https://think.ing.com/opinions/brics-the-new-name-in-reserve-currencies/" target="_blank" rel="noopener">Russia</a> and <a href="https://www.reuters.com/article/spain-brazil-lula-idUSL1N36T1WW" target="_blank" rel="noopener">Brazil</a> that have really pushed for a BRICS common currency. China hasn't commented on the idea, while India and South Africa said it wasn't on the agenda at the <a href="https://www.reuters.com/markets/currencies/what-is-brics-currency-could-one-be-adopted-2023-08-23/" target="_blank" rel="noopener">latest summit</a>.<h2>A BRICS currency — if it comes to pass — could have a narrow use</h2>For Amitendu Palit, the research lead for trade and economics at the Institute of South Asian Studies at the National University of Singapore, there are bigger issues standing in the way of a common BRICS currency — like diverse regulatory environments and how all its members' currencies can't be easily traded on foreign-exchange markets.As for political differences, Palit thinks countries are ultimately rational. Both China and India are conscious that they are competitors, and while "nobody is going to really grant concessions to each other, that does not mean that they stop working with each other," Palit told Insider."The important thing," Palit continued, "is that both countries have stayed engaged with each other."O'Neill, the skeptical father of the BRICS political bloc, still sees great potential for the group — if its members can only work together. But even if a BRICS currency comes to pass, its use could be limited.Prakash said a BRICS currency would be used in "very narrow and vertical settings, or for BRICS projects."India's External Affairs Ministry did not respond to multiple requests for comment sent by Insider.

China and India are so far into frenemy zone that they may never join forces to topple the dollar

<ul><li><keyword id="6354427" type="General" weightage="20" keywordseo="apple" source="Orion">Apple</keyword> is scheduled to host its Wonderlust event on September 12.</li><li>The Cupertino tech giant is scheduled to launch the iPhone 15 series at the event.</li><li>The iPhone 15 series will come with a USB Type-C port for charging and connectivity.</li></ul> Apple is all set to host its Wonderlust event on September 12, where the Cupertino tech giant is expected to launch several devices, including the iPhone 15 series, the<a href="https://www.businessinsider.in/tech/gadgets/news/apple-watch-series-9-launch-on-september-12-check-out-expectations-and-rumours/articleshow/103389279.cms"> Watch Series 9</a> and the<a href="https://www.businessinsider.in/tech/gadgets/news/apple-watch-ultra-2-to-launch-on-september-12-expectations-rumours-and-all-you-need-to-know/articleshow/103438121.cms"> Watch Ultra 2</a>. The iPhone 15 series is expected to come with a few firsts for the device, and the major change will be the Lightning port being replaced by the<a href="https://www.businessinsider.in/tech/news/apples-new-iphone-is-set-to-require-a-new-charger-for-the-first-time-in-11-years-and-your-old-lightning-cable-wont-work/articleshow/103406434.cms"> USB Type-C port</a>. Additionally, iPhone fans in India will finally be able to get their hands on the device at the same time as other countries, without any delays. It’s not just that – the phones in the hands of Indians will be made in India. Interested to know what you can expect from the latest iPhone 15? Watch our video to learn more about it. <div type="INSTAGRAMURL" thumbUrl="undefined" caption="Caption not available." user="undefined" cmsId="1694166512872"><url><![CDATA[https://www.instagram.com/reel/Cw2h7klvwnn/?igshid=MzRlODBiNWFlZA]]></url><permalink><![CDATA[https://www.instagram.com/reel/Cw2h7klvwnn/?igshid=MzRlODBiNWFlZA]]></permalink><payload><![CDATA[]]></payload></div> <cmsannotation type="cmsannotation" annotationid="iPhone 15 to feature a USB Type-C port… finally" comment="subhead" text="iPhone 15 to feature a USB Type-C port… finally">iPhone 15 to feature a USB Type-C port… finally</cmsannotation> For the first time in eleven years, the latest iPhone will not feature a lightning port. Apple has been forced to move from a lightning port to the USB Type-C port after the EU<a href="https://www.businessinsider.in/tech/news/after-eu-india-wants-companies-to-offer-a-common-charger-for-all-devices/articleshow/93469948.cms"> introduced</a> rules mandating companies to offer a common charger for all small devices such as smartphones and tablets in a bid to reduce electronic waste. Apple has been the only smartphone company to not offer a USB Type-C port for its smartphones and EU regulations have finally pushed the company to the Type-C port, which is found on most devices these days. USB Type-C port can be called as the industry standard for connectivity when it comes to smartphones and Apple’s shift towards this will make it easier for iPhone users to connect and charge their smartphones. This will also mean that users looking for new cables for the smartphones will be able to get cheaper cables as Type-C cables are available at an affordable price. <cmsannotation type="cmsannotation" annotationid="The iPhone 15 may be limited to USB 2.0" comment="subhead" text="The iPhone 15 may be limited to USB 2.0">The iPhone 15 may be limited to USB 2.0</cmsannotation> While the addition of a USB Type-C port is great news, the iPhone 15 series will reportedly be limited to USB 2.0 data transfer speeds, which is 480 Mbps – just like the lightning port. For some context, the Samsung Galaxy S23 Ultra is equipped with a USB Type-C 3.1 Gen 1 port that offers 5 Gbps data transfer speeds. <cmsannotation type="cmsannotation" annotationid="What’s different for India this time" comment="subhead" text="What’s different for India this time">What’s different for India this time</cmsannotation> Apple has been producing iPhones in India for some time now but the major change this year is expected to be the timing. Unlike last year wherein the company started production of iPhone 14 in India nearly at the end of<a href="https://www.businessinsider.in/tech/enterprise/news/apple-starts-manufacturing-iphone-14-in-india/articleshow/94447212.cms"> September</a>, the production is expected to begin sooner this year. According to reports, Apple is gearing up to begin the production of the iPhone 15 series in India with its three manufacturers – Foxconn, Wistron and Pegatron already sourcing components. In the first wave, the company is expected to introduce “Made in India” iPhones from the Foxconn plant in Chennai in mid-September. “Apple has ramped up manufacturing in India. All three manufacturing partners for Apple in India, Foxconn, Wistron, and Pegatron are awardees of the PLI scheme (Production Linked Incentive) which has been one of the top government schemes aimed at increasing manufacturing in India. India has become a focused market for Apple,” said Shilpi Jain, senior analyst, Counterpoint Research. <cmsannotation type="cmsannotation" annotationid="Exports from India to start in December" comment="subhead" text="Exports from India to start in December">Exports from India to start in December</cmsannotation> Once the festive season ends in India and the demand is reduced, Apple is expected to begin the exports of iPhones from India to the US and other countries. Apple’s exports from India have been increasing over the years. <cmsannotation type="cmsannotation" annotationid="iPhones exports from India" comment="subhead" text="iPhones exports from India">iPhones exports from India</cmsannotation> iPhone exports from India have been gaining steam amid the company’s pivot away from China. India now accounts for around 7% of Apple’s global production, up from around 1% in 2021 when the government introduced the PLI scheme. The three manufacturers of iPhones in India have committed to exports worth Rs 61,000 crore for FY24. Interestingly, the iPhone contributed to over 60% of all mobile exports from India in the first quarter of FY24. Apple’s exports also made electronics the fourth-largest exported items in the first quarter of FY24. In 2022-23 the Cupertino tech giant exported around $5 billion worth of iPhones from India, out of the total local production worth $7.5 billion, as per an ET report. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/iphone-15-series-apple-watch-and-airpods-pro-expected-in-upcoming-apple-event/articleshow/103238563.cms">Apple set to launch new iPhone, watch &amp; AirPods Pro on Sept 12 – Here’s what we know so far</a> <a href="https://www.businessinsider.in/tech/gadgets/news/apple-watch-series-9-launch-on-september-12-check-out-expectations-and-rumours/articleshow/103389279.cms">Apple Watch Series 9 launch on September 12 – expectations, rumours and all you need to know</a> <a href="https://www.businessinsider.in/tech/gadgets/news/apple-watch-ultra-2-to-launch-on-september-12-expectations-rumours-and-all-you-need-to-know/articleshow/103438121.cms">Apple Watch Ultra 2 to launch on September 12 – expectations, rumours and all you need to know</a>

The iPhone 15 will be available in India faster than its predecessors and it is coming with a Type-C port

Brussels, Jun 22 (AP) Top European Union officials are holding talks Monday with Chinese President Xi Jinping and Premier Li Keqiang at a time of rising tensions between two major trading partners over the fallout from the coronavirus crisis and Beijing's increasing control over Hong Kong. European Council President Charles Michel, EU commission President Ursula von der Leyen and the bloc's foreign policy chief, Josep Borrell, will hold two video conferences separately, first with the premier and later with Xi. The meetings are not expected to produce concrete results - no joint statement will be issued - but the Europeans hope it will boost slow-moving talks on an investment agreement and build some common ground for tackling thorny political issues at a face-to-face meeting, hopefully late in the year. The EU sees China as a "systemic rival" that offers great opportunities but also presents many challenges. The coronavirus pandemic has created new obstacles, notably what Brussels sees as a China-orchestrated campaign of disinformation about the pandemic that could put lives at risk. The meetings come at a time when China stands accused of trying to influence European officials and Borrell has twice denied in recent months that the External Action Service - a kind of EU foreign office that he leads - has bowed to Beijing's pressure to alter documents. While the 27-nation EU is China's biggest trading partner, it is often divided in its approach to Beijing. Yet the new security law for Hong Kong has galvanized the bloc. EU member countries insist the law will undermine the territory's autonomy, which was guaranteed in the "one-country, two-systems" framework. Monday's meetings were originally meant to be a summit on March 30, but the coronavirus pandemic pushed it off the agenda, along with another high-level event that was due to take place in September in the German city of Leipzig. The Europeans will hold a news conference later Monday but no Chinese officials are scheduled to take part. (AP) AMS AMS

EU, China look to ease tensions, push on with business

Issues related to crypto assets require immediate attention and the response of the G20 has to ensure that they do not lose any potential benefits while protecting economies from harm, Union Finance Minister <keyword id="129243" type="General" weightage="50" keywordseo="nirmala-sitharaman" source="Orion">Nirmala Sitharaman</keyword> has said. <keyword id="679937" type="General" weightage="100" keywordseo="sitharaman" source="Orion">Sitharaman</keyword> was part of a brainstorming session on "Macrofinancial Implications of Crypto Assets" with G20 finance ministers and central bank governors at the IMF's headquarters here on Friday. India currently holds the rotating annual presidency of G20 countries. Issues related to crypto have emerged as a major point of discussion among G20 countries and there is unanimity among member nations about the urgency to regulate this sector. The brainstorming session was attended by global experts on this issue. In her remarks, Sitharaman said the G20 acknowledges the work of the International Monetary Fund (IMF) and the <keyword id="112428" type="General" weightage="80" keywordseo="financial-stability-board" source="Orion">Financial Stability Board</keyword> (FSB) in bringing out key elements of policy and regulatory framework. She also said a synthesis paper, which would integrate macroeconomic and regulatory perspectives of crypto assets, is required. The minister noted that there was consensus among G20 members to have a globally coordinated policy response on crypto assets that takes into consideration the full range of risks, including those specific to emerging markets and developing economies. Earlier this week, Sitharaman had said that India's G20 Presidency aims to develop a common framework for all countries to deal with risks associated with cryptocurrencies in the wake of the recent shocks witnessed in the crypto market. The last year episode of FTX's bankruptcy, and its spat with Binance triggered a huge sell-off in the market and reduced liquidity. This event made the world realise the vulnerability of this asset class as they do not have any underlying value. "Cryptocurrencies are a very important part of the discussion under the #G20India presidency, given so many collapses and shocks in cryptocurrencies. We seek to develop a common framework for all countries to deal with this matter," she had said at a discussion at Peterson Institute for International Economics here. According to the chair's summary released at the end of the two-day meeting of the first Finance Ministers and Central Bank Governors (FMCBG) held in February, the grouping will be looking forward to the IMF-FSB Synthesis Paper on crypto assets. "I am glad to say one thing: there is almost a clear understanding that anything outside the central bank is not a currency. And this is a position that India has been taking for a very long time and we are glad that such a position of India is now also getting acknowledgement from so many different members. People recognise that the technology is very useful for fintech," she had said after the conclusion of FMCBG. Further, in July, the FSB's paper on crypto assets regulation will be tabled so that it could be discussed at the next meeting of the finance ministers and central bank governors. The International Monetary Fund-Financial Stability Board (IMF-FSB) synthesis paper will be submitted in September, she added. Despite the rapid evolution of the crypto universe, there is no comprehensive global policy framework for crypto assets. Given the concerns over greater interconnectedness between crypto assets and the traditional financial sector as well as the complexity and volatility around crypto assets, policymakers are calling for tighter regulation. The global standard-setting bodies, such as the Financial Action Task Force (FATF), Financial Stability Board (FSB), Committee on Payments and Market Infrastructures (CPMI), International Organization of Securities Commissions (IOSCO) and Basel Committee on Banking Supervision (BCBS), have been coordinating the regulatory agenda while working within their respective institutional mandates. India hopes to broaden the G20 discussion on crypto assets beyond financial integrity concerns and capture the macroeconomic implications and widespread crypto adoption in the economy. This will require a data-based and informed approach to the global challenges and opportunities of crypto assets, allowing G20 members to shape a coordinated and comprehensive policy response. SEE ALSO: <a href="https://www.businessinsider.in/business/auto/news/ather-finally-focuses-on-affordable-electric-scooters-after-losing-its-lead-to-ola-electric-and-tvs-motor/articleshow/99456189.cms">Ather finally focuses on affordable electric scooters after losing its lead to Ola Electric and TVS Motor</a> <a href="https://www.businessinsider.in/tech/news/17-of-people-store-financial-information-on-their-smartphones/articleshow/99426637.cms">Despite a rise in financial frauds, 17% of people store financial information on their smartphones</a> <a href="https://www.businessinsider.in/tech/news/most-common-passwords-can-be-easily-cracked-by-ai-in-under-a-minute/articleshow/99379900.cms">AI chatbots are cracking the code: How PassGAN can break into 51% of common passwords in under a minute</a>

You Searched For "EU India Common Agenda" and got 9 results

After EU, India wants companies to offer a common charger for all devices

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India joins EU in mandating USB-C charging port on smartphones, as Americans still have to deal with 3 different types of ports and cables

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China and India are so far into frenemy zone that they may never join forces to topple the dollar

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The iPhone 15 will be available in India faster than its predecessors and it is coming with a Type-C port

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EU, China look to ease tensions, push on with business

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Crypto issue requires immediate attention, says FM Sitharaman

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