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tv   Business - News  Deutsche Welle  September 8, 2022 12:15pm-12:31pm CEST

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on the line, the long term commitment of ukraine's allies to support it against russia. speaking at a meeting of the kind of fence contact proof, austin said that western military backing to ukraine was paying off on the battlefield. the contact group made up of defense ministers and senior military figures is maintained in germany. not to news headline. they sound thanks for watching up next business news with my colleague christy plants and i'm rebecca richard from 8th and the entire team here in build. and thanks for your company with the landscape. a reflection of the turbulent history. the cities, the mosaic of different people and the languages
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o. e. ron's mountains reveal unparalleled beauty. the scenery is magnificent particularly warm and our position is exceptionally a special look at a special country. iran from above. start september 16th on d, w. ah, it's india, the outlier. the country reports massive g d p growth in the 2nd quarter as other major economies economy struggle under inflation and high energy prices are corresponded in delhi tells us why. also in india follow falling water levels in the state of punjab, have severe consequences for a beloved stable crop, writes, but i knew cultivation method could keep the industry there from dying out. and an
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indonesian fashion brand looked into the past for ways to make clothes that are good for the future of the earth. welcome to dw business. i'm chrissy plants in. india's economy grew at 13.5 percent in the 2nd quarter. that's compared to the same period in the last year. it's an astonishing double digit figure at a time when other major economies are in trouble. global economic growth has slumped amid recession fears caused by spiking energy prices that followed russia's invasion of ukraine. india shook off the effects of the downturn of the pandemic period, and is expected to post a $7.00, annual g d, b, d, d p growth this year, seemingly recovering ground last almost 3 years ago. now, india's g d p growth has been outperforming other major world economies, even as they bounce back from the pandemic. they've been struggling with the fault from the war and ukraine, including rising food and energy prices. china's been hard hit by locked on measures. the supply issues. now in the last 10 years,
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india kept growing until the pandemic which hit its economy hard. g d p declined a sharp 6.6 percent in 2020. now the economy started recovering in 2021 with a booming 8.9 percent growth in g d p. this year and he has economy is expected to grow by 7.4 percent. but not all is rosy. falling water levels, there could have severe consequences for rice production and important stable crop . but farmers hope innovative techniques can keep the positive moment. i'm going. ah, anyone who has driven through the state of punjab is familiar with this sect feels of paddy. the rice cropped historically rice has been grown here just like this. the method is called paddling where crops are submerged in water for weeks. this is one of the most water intensive ways to cultivate body. and the results are in,
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been job is now facing and increasingly severe water crisis. farmers and having to figure out ways around it. like go policing. who was experimenting with a technique that is making inroads in north india. ah bonnie, back in. okay. almost every year the water levels falling by 5 to 10 feet of a lot up to 3 meters in our line. arguable only be adopted. the died at sewing of rice technique because it requires less water level of thought. again, you started to understand how the direct sewing technique works, though we've got to look at the older method 1st. traditionally, saplings of rice are grown in a nursery for weeks and transplanted into the field which are flooded. but rice is not actually in aquatic crop. it just has a great ability to tolerate being submerged. the what is mean role is to repel pests and works as a natural we decide. in an on 5 month,
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the crops can be harvested and done into rice in the form. we know. but this method uses up to 5000 liters of water per kilogram of rice and has been jobs. water tables shrinks, it is predicted that rice me not groovy on a few decades. direct sewing or the dsr technique is the alternative where seeds are so indirectly by hand or machines. more seeds may be needed for the same area, but yields remain largely on par with the traditional method machine to save labor and related costs and landed in punjab. whether it was a labor shortage or did you do i did back that it would be yes, i have saved almost 20 percent of my water. and you can see here this has not affected the quality of my paddy at all. i don't. how can i go? the punjab state government is now offering farmers compensation for bees 1500 around 18 euros a season to switch to the new method to conserve water landscape. while for more on
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the ground in india, we go now to our correspondent in delhi charo kartik high up. we just heard a bit ago about the struggles in the rice industry in india. but the, at the same time, the country just registered that huge growth and g d p in the 1st quarter. what seems to be working out there right now? because some things are obviously struggling. well, christie, are, most economists are pointing out 2 things. one, this judy b growth numbers is essentially because of the base effect because last year the growth was pretty bad and i knew when they got to me was still in the throes of urban demik. autonomic related stress and now, and the economy appears to be leaving that stress behind, and which is 0, which is what has been reflected in these numbers. however, what india, as a reserve bank, had predicted was a 16 percent growth. so this is a business that this growth is low here as compared to what was expected out of the
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indian economy. so even though the base effect has trickled in be expired, the expectations have really not been met. do. there is, of course, a positive story and that was to stories about the rebound in the services sector. they seem to have a beat have been doing well. private consumption is picking up, which means that demand in the economy is picking up and are, those are the really the silver linings? ok, what are you at the point that this, these numbers are compared to last year when we were in the midst of the kobe pandemic? how do these figures actually compared to pre covered india? but you can see that's the problem. a freak of it, as most economists are pointing out, as compared to the peak of a situation. this way, the situation is still not comfortable as the growth would be somewhere around 4 percent as compared to the pre corporate level. so which means that the demand is yet to pick up, the growth has yet to pick up as compared to what it was several years ago or even before over the economy had started slowing down because of the cascading effect of
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multiple steps, or multiple developments that happened economy, there was the monetization, there was a introduction of the goods and services tax and then the panoramic image. so the domino effect sort of all these events that the new economy is yet to leave, that kind of stress behind it. okay, well i'm hearing a little bit of a mixed message from you, but what we also know is that g d p in india overtook the u. k in this quarter to become the 5th, 5th largest economy, behind the us, china, japan and germany. and we're also seeing china status diminishing on a global stage. is india going to be taking place? what do you think? well yeah, that's, that's the buzzword and has created a given rise to low celebration. india, that will be in economy b, u. k is. but then that's only strictly in terms of the g d p growth in terms of per capita g d, p. and you're still far, far behind you. kate is also behind china. and
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a lot of going to say that in the us, structural problems are not enabling the economy to unleash the potential that it really has. so while it always becomes a point of discussion to find out whether india or when will india overtake china, the point is that any game is yet to connect to structural a defects manufacturing, for example, which used to be the mainstay and which is responsible for the largest number of jobs in the countries yet to take off. manufacturing growth in manufacturing is not picking up jobs in manufacturing or not coming back and for, for, for the economy to, to really move ahead and to beat other economies. internationally. the sector is most critical and the expected growth in manufacturing sector especially is not happening. christy, right, char, kotik, i and ali, thank you for those insights. let's have a look at some of the other global business stories making this the european
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central bank is set to announce its decision on the interest rates today. the tv is expected to increase the policy rate for a 2nd time this year. i 50 to 75 basis points ahead of the decision the euro was just north of a to decade low. normally, high energy prices have pulled it down against the dollar. meanwhile, the british pound has plummeted to its lowest level against the us dollar since $985.00. it's largely due to a weaker outlook expected for the okay. economy. the bank of england expects the economy to shrink from now until the end of 2023. once again, the main reason rising energy costs due to russia's war and ukraine as you put to loyal prices, have fallen to their lowest level since russia's invasion of ukraine. and february brent crude drop below $88.00 a barrel amid looming recession. risk for the global economy. surging inflation and rising interest rates are weighing on consumption. apple hasn't veiled its new iphone 14 models along with new earbuds, and watch it. despite price inflation across apple supply chains,
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it's kept the prices for the devices the same as last year. apple's last i phone was highly profitable flowing, global smartphone sale the textile industry and indonesia has struggled in recent years and has only just started recovering from a decline a demand due to the pandemic. even though apparel is the key, industry of the country still imports 99 percent of the cognitive processes. now one startup is setting out to change that and reviving the industry with old methods it was a radical change, of course, for any cathy adeney flesh. when a few years ago, she and her dutch husband moved back to her homeland of indonesia. quickly, they were drawn to remote villages. like here near to been on the island of java. when i was in the villages, i start realizing that there are women who flies are impacted by our everyday choice while we wear. and i realized that i wanted to then build
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a bridge between people all around the world. care about this issue for care about where to close come from. with the very women will actually make it the very women who knew the plans that are used to make the clothes in 2016, using her savings, she founded to cut sita. let's indonesian for lack their mission, work with local women to revive their forefathers working techniques. like using plants to color the cotton harvested in the fields. we were kind of showing that you can grow, caught them in a way that's actually beneficial for the environment as beneficial for the farmers that doesn't require tons of pesticides and fertilizers, right? that's so important because they should and biggest footprint of fashion comes from the materials. especially when you talk about climate change is actually more than half of the climate impact comes from the way closer grown or the fibers are made,
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and also how they died. today the start up is working with more than 1500 women on cotton fields is stretching over 20 hectares. the close produce here are sold online. the are social media and in their store in jakarta, the nicoli had any flesh says it wasn't easy to convince customers to spend more money in order to get a more sustainable product. we have to really work very hard to make sure there is enough awareness and therefore the man for all these products basically. and we were actually very happy because we managed to ship our it was product to now over 30 countries. and that managed to feign all the field work that we do on the religious level. to day suca, sita is profitable, and the founders want to even grow the business. the farm is said to be expanded to $1000.00 actors, all based on the expectation that more customers will put green and fear over cheap . a quick reminder of our top story. in the us economy grew
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13.5 percent in the 2nd quarter. that's compared to the same period in the last year. it's an astonishing, doubled a figure at a time and other major economies are troubled. well, that's our show for more check us out at d, w dot com backslash business, and the d. w. news youtube channel for off on facebook. thanks for watching. i'll see you tomorrow. ah, me glaciers. provide nourishment in baton for both body and soul. ah, but climate change is threatening this balance. ah, the blues are adapting to these shifts with innovative strategies. he come
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india or d w a she's got is just a thought say well great, you move ah water is a basic need on living, being without resources out on the threat. trying to save fresh water supplies from the tibetan capital will decline if you must believe by 2060.

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