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India and Belgium on Thursday agreed to significantly expand their cooperation in trade, defence, critical minerals, clean energy and technologies following Prime Minister Narendra Modi's wide-ranging talks with his Belgian counterpart Bart De Wever. In his media statement, Modi highlighted India recording a 7.8 per cent growth rate in the last quarter and said the country's economic rise was a source of confidence and new opportunities for the world. The Belgian prime minister described the conclusion of the India-European Union free trade pact as a major milestone, and said New Delhi and Brussels are building a relationship that is broad and more strategic than ever before. "Today, the world is passing through a phase of great upheaval. In many parts of the world, situations of conflict persist. Food, fuel or supply chains- uncertainty is affecting every sector," Modi said. "Even in this challenging environment, India's economy has maintained its momentum. In the last quarter, we
China on Tuesday rolled out a series of measures to boost consumption in its counties and smaller cities to revive sluggish domestic demand, which has become a major source of its economic slowdown. The measures herald a policy shift to boost domestic demand from top cities and tap the potential of vast lower-tier markets as a new source of economic growth, an official announcement here said. The government calls for upgrading consumption channels in counties, including renovating township commercial centres, rural markets and local fairs. It includes encouraging domestic and international brands to open regional debut stores and promote the revitalisation of existing land resources to improve services, according to the guideline issued by the Ministry of Commerce. The lower-tier markets, generally referring to third-tier and smaller cities, counties, townships and rural areas, account for about 70 per cent of China's population and 60 per cent of total retail sales of consumer ...