tv Business Deutsche Welle April 11, 2019 10:30am-10:46am CEST
i think. with the gold building and definition of. the party and chat with musicians from all around the world. groups every week. the world's biggest democracy at work nine hundred million people in india start casting their vote will they provide a second term to the prime minister narendra modi and his ambitious economic agenda also on the program the world bank says we all need to stop depending less on fossil fuels so why is it lending money to the world's biggest oil refinery in construction. good to have you with us. the biggest election is in history has
started in india nine hundred million people are eligible to cast our vote with prime minister narendra modi and his international list party put favorites he was swept into power in twenty fourteen on promises of more jobs and a stronger economy but his time in office has had its shares of. g.d.p. growth has indeed been strong in india and twenty eight thousand the country's gross domestic product. seven point three per cent making india the fastest growing economy in the world however it is not creating enough jobs unemployment currently stands at seven point one percent the highest level in years providing jobs is the utmost importance in india as the population is growing fast it's nearly one point four billion and that number is growing by fifteen million every day now the prime minister has attempts to further prop up the economy have been hampered by what many call to self inflicted problems. chaos of banks across india as almost all
paper money is rendered worthless two years ago prime minister narendra modi stripped five hundred one thousand reaping notes of their value leaving millions of indians without their savings it was meant to tackle money laundering but lives and businesses were disrupted this textile factory in tamil nadu had to close for nearly three weeks its c.e.o. is still angry. over today if you get a. list of the words he's on. the made administration didn't just cancel common notes it also took months to replace them and then introduced a new tax on goods and services known as g.s.t. experts say it was necessary many complain of a haphazard rollout it was a double whammy for small businesses the years dever the rate of what we used to have a lot of clients at least two to three hundred in a city it was all in cash we were doing well. after the notes were cancelled and
g.s.t. was brought in the market all but disappeared when we don't get clients from outside the city now business is down a lot lately. some businesses are still hurting and that's something modi's opponents are capitalizing on they say his policies have disproportionately effect of the poor but the prime minister and his supporters say it's all in the past now it's up to india to decide. well for more of the indian electra let's bring in our return car she is the president of the german institute of global an area studies and hamburg and she joins me via skype good you have you with us on return our prime minister modi swept into office with a strong mandate five years ago now large parts of his voters seem disillusioned how would you grade his first term in office. great to be with you and i would i would say that do we need to look at this movies record in
a balanced way so europe as your report covered some of the very serious problems that have come from some of his policies like to monetize ation like the goods and services tax but there have also been some important achievements so for example eason doing business index of the world bank india in two thousand and fourteen ranked one hundred thirty fourth in a group of one hundred ninety countries and now india ranks seventy seven and this is a big leap frogging many of the reforms that more these trying to bring about have been difficult to implement and there have been serious problems but i would argue you look at a digitalization when you look at improvements in formalizing some of the informal sector does more the islam has launched india in a good way but one of the most important issues though is getting enough jobs for
an ever growing society why is this strong g.d.p. growth that we're seeing in the indian economy not creating this required number of jobs. well a lot more needs to be done in terms of industry in terms of infrastructure in terms of also catering to the needs of the fama so a movie has brought about huge improvements for example in the services sector. and india looks very different five years ago. from from from what it's like right now that industry is lagging and we are seeing a massive levels of migration from rural areas to urban areas and unless india a something about its. very weak industrial sector and this is something that has been a problem for previous governments as well he has been trying to fix it but it's going to take a long time to fix it's not going to happen overnight. what are the tensions with pakistan over a battle kashmir have been running high recently and that's always
a delicate and sensitive issue within the indian society i wonder how important is a these these news to have a look at your personal economic situation and have that influence your vote. so all their reaction to the. situation in pakistan and also india's strong response to the situation canceling and in different ways so in the northern states where pakistan is closer the threat is closer the problem and kashmir is closer problems of terrorism have been directly experienced very that might act the strong position that movie showed might actually produce some wins but india is really almost like you are a it's a very diverse country and there are diverse interests within the country and so when you look at the saddam's i'm not so sure whether this would play out entirely
in favor of movie where economic concerns a might be more overwhelming than some of the nationalistic fervor the patriotism that movie managed to harness in relation to present crisis. knowledge are of the germans the truth of global mariya studies thank you for talking to. thank you we wrote on your of the deadline of bragg's a date has been pushed back again conrad rosen in frankfurt how are investors reacting relieved or annoyed that the strawman is apparently carrying on. of course the majority of people on the markets are relieved that hard breaks it will not happen tomorrow but of course this delay means that no one on the financial markets has clarity about what to expect during the coming months will we end up in the customs union with the u.k. will there be another referendum in the u.k.
what will the u.k. and the european union do about those european parliament elections where the brits now have to take place the uncertainty about all this means that financial decision makers of course will continue to plan for you know something going wrong. in congress there are reports of chinese industrial espionage in the netherlands. yes this story involves china and it's involves the dutch from s.m.l. we not often talk about this company but it's a huge player in the world you know computer chip making business the dutch newspaper financier did the reports that there's been huge espionage by chinese employees of a s n l who have given data to a company a chinese company that has links to the chinese government the damage the newspaper writes has been several hundred million euros and that's only the money of course
industrial espionage has become a huge topic a huge political topic and while i said bell the company itself wants to sort of play down the significance of this investors are pretty nervous the share price of s.m.l. is down. in frankfurt thank you. the world needs to stop depending on fossil fuels that's a scientist's view that also the world bank subscribes subscribes to even so the lender is apparently heavily invested in building the world's largest oil refinery in nigeria german public broadcaster and the art of the day news events inside an empty w. went to investigate. at this huge construction site near lagos city a new oil refinery is being built the man behind it an eco dango take estimated worth fourteen point one billion u.s. dollars his goal is to make nigeria one of the biggest exporters of crude oil self-sufficient when it comes to refined oil too but not everyone's
a fan akpan ekpo says oil can't be nigeria's future. and i do because the oil is here we're. still able to move forward. and i guess office i've been developing. at the recent climate summit in kenya the world bank emphasized its commitment to ceasing support for oil and gas and urged africa to shift to sustainable alternatives how come germany who is not so much. enjoying so shy could pay a seven percent of their installed electricity capacity to come from solo and in the africa this capacity to be one point five percent how come however according to an international research project which d.w. was part of the world bank has invested in several fossil fuel projects in africa
including financial intermediary investment and a one hundred fifty million u.s. dollars loan to denko taste refinery project by the world bank's i.f.c. the world bank says this loan was designed to help nigeria increase the value addition of its natural resources sector specifically through fertilizes akpan says instead the world bank should have invested in a stable electricity supply for nigeria. if. he were looking though through for example that enclave going to have more jobs. we need. you know so we could go by without including. he has his fingers in many of the pies in nigeria sugar salt flour all but his name and this man proudly sells denko taste cement the company is a monopoly granted government protection from international competition provide
market for all those with business. and. got out up about this if i was puttin up so money employment but experts say that once construction is finished below and medium skilled jobs at the refinery will vanish and the project could end up as another white elephant supported by a un organization. or program if you want more i can highly recommend our website to you that's called slash business or better yet. another thanks for watching. us.
documentary. hi there and welcome to news from arts and culture i'm karen helms ted well in the midst of what feels like a never ending breck says a new photo book by toby benda brings us closer to the existential angst going on in northern ireland also coming up. another installment in our series baking bread and they are. all about the famous black bread.
and a dancer who's been lauded for both his classical and contemporary performances with . a dance about the project that's about to take berlin by storm. with the u.k. on the brink of leaving the e.u. the irish border question still has no clear answer this means lots of confusion over what the fate of northern ireland ireland will be where the return to a hard border with the republic of ireland could threaten the region's hard won peace lever since the u.k.'s breck said referendum german photographer toby bindra has focused his attention on belfast and the fragile balance that is daily bread for its youth. teenagers in belfast after the good friday agreement they have not experienced the sectarian violence of the past still these images show.
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