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00:00:00government in which he detailed hundreds of achievements of his
00:00:03administration and insisted that he received a country
00:00:06practically destroyed by
00:00:09consolidating India as one of the main previous socialist administrations to which he attributes
00:00:11practically all current evils. In social
00:00:15sectors, the president's report was rejected because it is affirmed that
00:00:18in this time of government he has demonstrated that lies characterize
00:00:22his discourse. It was also highlighted that the president
00:00:25uses erroneous information such as affirming
00:00:29that previous governments broke diplomatic relations with
00:00:33neighboring Peru, which never happened and was only a
00:00:36Bolivian protest in rejection of the coup d'état that
00:00:40enthroned Mrs. Dina Boluarte in the neighboring nation, which
00:00:43led to the withdrawal of ambassadors from both countries, but
00:00:47relations continued. This
00:00:49national anniversary and first 9 months of the new
00:00:53government's administration, finds the country in a state of emergency, formerly
00:00:57known as a state of siege, resources.
00:01:00used to end a union protest of more than 50
00:01:03days against the government, the constant
00:01:06increase in the cost of living due to the
00:01:09dollar's float, which increased
00:01:11consolidating the export channel as the its quotation every day in the
00:01:14first month, is also maintained. In addition, accusations of alleged
00:01:18millionaire state corruption are proliferating
00:01:21in at least five
00:01:28Morales, we conclude this installment of our 360
00:01:31star report. It will be until a next
00:01:34opportunity, stay tuned to our multiplatform,
00:01:50how are you, Jorge Gestoso speaking, I invite you to join me in a new
00:01:53program where we will be talking about the climate crisis,
00:01:57Europe is burning with another one.
00:02:20draft for ships in the
00:02:34investment. Beyond
00:02:40Welcome to Impacto Económico, I'm Santo Domingo becomes the venue for Luis Francisco Blandón from Caracas,
00:02:44Venezuela, much to comment on economic matters in our towns, the world,
00:02:47we begin with
00:02:48headlines.
00:02:52In Latin America, we talk about Venezuela, a country that provides financing to businesses
00:02:56and entrepreneurs for the earthquakes of June 24. Today in context we will see India
00:03:02how it begins to gain
00:03:06prominence in the world
00:03:08economic scenario.
00:03:12and in Economy 360, drought in France forces
00:03:15farmers to use crops resistant to high temperatures.
00:03:58we start our record. In Latin America, speaking of Venezuela, the
00:04:02acting president Elsi Rodríguez delivered financing to businesses
00:04:06and entrepreneurs affected by the double seismic
00:04:09event of June 24 in La Guaira state and as part of an
00:04:13integral plan aimed at accelerating the economic
00:04:16recovery of the entity. The measure seeks to support the sectors that
00:04:20remain standing and accelerate the reactivation of those
00:04:24appreciate our products, currently that were paralyzed by the emergency. Rodríguez highlighted the
00:04:27resilience of the Venezuelan people, noting that more than.
00:04:32remain active in the region, including 10,700
00:04:35entrepreneurs, 7,256 formal
00:04:38commercial units, more than 3, service providers
00:04:41on the beaches and 1910 linked to
00:04:44informal activity. The plan contemplates five fronts:
00:04:48assistance to commerce, entrepreneurship and banking, rehabilitation
00:04:52of the market and in Catia La Mar also support for
00:04:55tourism service providers, rapid employment for affected families.
00:05:00The day included authorities from the economic, financial and
00:05:03tourism areas along with the governor of La Guaira
00:05:06state.
00:05:12The Argentine automotive industry recorded poor results in
00:05:15July, with terminals producing 31,189
00:05:19vehicles, which represents a decrease of
00:05:2215.8% compared to June and 16%
00:05:25compared to July last year, in the accumulated from January to
00:05:29July, manufacturing reached
00:05:31235,847
00:05:33units, an 18% less
00:05:37year-on-year. This reflects a setback and the
00:05:40weakness of the domestic market, hit by restrained
00:05:44consumption, high financial costs and loss of purchasing
00:05:48power, wholesale sales to
00:05:51dealerships also fell 22.4% monthly
00:05:54in July and accumulate a 24.9% drop
00:05:58in the year, in contrast, foreign trade continues to be
00:06:02the main support with exports growing
00:06:06by 28.3% year-on-year in July, adding
00:06:09a slight increase of 1.6% in the first
00:06:127 months, according to the president of the Association of Automotive
00:06:16Manufacturers, Rodrigo Pérez Graciano, production
00:06:19adjusts its rhythms to internal weakness,
00:06:24engine of
00:06:24activity.
00:06:33The Constitutional Court of Chile unanimously declared admissible
00:06:37the opposition's objections against the mega-reform or national
00:06:40reconstruction law of the government of José Antonio Cast, the
00:06:44body will review two key points, such as tax
00:06:48invariability that seeks to maintain for up to 25
00:06:51years the reduction of corporate
00:06:54tax to large companies and in the priority of
00:06:57processing investments above environmental protection. The Court
00:07:01gave a 5-day deadline to the parties and set a public hearing for August
00:07:0512 where the civil society's allegations will be heard.
00:07:09One day later, the court will issue a final
00:07:12and unappealable ruling on this miscellaneous law of more than 40
00:07:16points, questioned for granting alleged tax
00:07:19privileges to large
00:07:20companies.
00:07:27The Panama Canal announced a gradual reduction of the maximum
00:07:32Neopanamax locks, as a
00:07:35preventive measure against the effects of the El Niño
00:07:39phenomenon and to guarantee water and continuous operation.
00:07:43From August 26, the authorized draft will be
00:07:4648 feet and from September 3 it will drop to
00:07:5047.5 feet, a decision that responds to the
00:07:54current levels and projections of Gatún Lake, the main
00:07:57source of water for the locks and the population's
00:08:01consumption. For its part, the administration clarified that these
00:08:03adjustments will not affect the number of daily
00:08:06transits. The measures are based on hydrological analysis
00:08:10and experience from past droughts. Specialists
00:08:13maintain continuous monitoring of climatic
00:08:16conditions to assess future impacts, safeguarding this
00:08:20route where nearly 6% of world
00:08:24maritime
00:08:24trade transits.
00:08:31We move on to Guatemala. The state is debating a second millionaire
00:08:34subsidy to contain the fuel crisis. Analysts
00:08:38warn that the measure favors large distributors, while
00:08:42consumers continue to bear the impact of increasingly
00:08:46high prices,
00:08:50the happy journey of this sign contrasts with the real cost of
00:08:53moving around in Guatemala, in several parts of the country the gallon of
00:08:56fuel already exceeds 5.5 and
00:08:59transporters warn that fares and food could
00:09:03increase, it's too much, it has
00:09:06doubled the price, before if
00:09:10we said we put four gallons it was... 100 quetzales,
00:09:13right, but now two gallons, 100 quetzales, it's
00:09:16too much. For the Ministry of Energy and Mines, the first subsidy
00:09:19of more than 262 million dollars managed
00:09:23to cushion the impact of the rise in fuel prices. On April
00:09:2628, there was a decrease of eight quetzales for
00:09:30diesel and five quetzales for gasoline, which is the yellow
00:09:33line. So, what the population, gasoline
00:09:37consumers, perceived was that yellow line that
00:09:40lasted until July
00:09:422. In Guatemala, the fuel business is concentrated in at
00:09:46least eight wholesale distributors and more than 1,300
00:09:50gas stations nationwide. Analysts question the absence of
00:09:54state controls to detect possible speculative
00:09:57practices that the state does not
00:10:00establish price caps or regulate the
00:10:03market. There is not even a public entity that is
00:10:07capable of doing that. All we have is a very weak
00:10:10consumer ombudsman's office that
00:10:14only supervises and informs through
00:10:17a website. A second subsidy awaits congressional
00:10:21approval, social movements and various opponents warn
00:10:25that the main benefit could once again remain
00:10:29in the hands of large fuel distributors, no, the
00:10:32subsidy will go to large companies, that is, we are
00:10:36once again giving the subsidy to those who
00:10:40even use
00:10:42the war to raise prices
00:10:45immediately, even if the inventory they had was bought
00:10:49cheaper, that is, they are also speculators,
00:10:52unfortunately, that's where Congress directed the subsidy, it didn't
00:10:56direct it to the people. In Guatemala, where a gallon of
00:10:59fuel weighs more than the minimum wage, the global crisis
00:11:03serves as a pretext for an economic model designed to
00:11:06guarantee private rents over collective rights.
00:11:10Santiago Botón, Telesur Guatemala.
00:11:14Thank you, Santiago Botón, our colleague in Guatemala, we move on to Mexico,
00:11:18President Claudia Sheinbaum expects public works to boost the
00:11:22Mexican economy in the second half of the
00:11:25year, thanks to the advance of infrastructure in highways,
00:11:29energy, trains, water, as well as mixed investments and
00:11:33private projects. She highlighted that housing production
00:11:36generates a key impetus for growth. In the energy
00:11:39sector, she indicated that mixed projects with a
00:11:4154% participation of the Federal Electricity
00:11:45Commission and 46% of
00:11:48private initiative add up to about 8 MW, with the
00:11:51goal of reaching 22 MW of
00:11:55renewable energy, finally, citing an article from The Economist,
00:11:59she stressed that economic growth is not everything, since what is
00:12:02truly important is the distribution of wealth and
00:12:05social
00:12:06justice.
00:12:14With that, we go to a brief break in our
00:12:17program and later we will see how India begins to gain
00:12:21prominence in the world economic scenario. We'll be right
00:12:49back. More than 100,000 athletes from
00:12:5237 countries
00:12:56compete in 40 disciplines,
00:16:24Thank you for following us on Impacto Económico, today in our
00:16:27context we talk about India, because well, for years
00:16:30China was considered the main engine of Asian growth and
00:16:34one of the economies that transformed international
00:16:37trade, however, the world economic scenario
00:16:41is beginning to show a new protagonist, India.
00:16:44Let's see in the following material.
00:16:47India maintains one of the highest growth rates among large
00:16:51economies and is consolidating as an increasingly
00:16:54relevant actor in manufacturing, technology, investment and
00:16:58international trade. The International Monetary Fund (IMF)
00:17:02projects that India's economy will grow around
00:17:056.4% in 2026, a pace that
00:17:09widely exceeds that of the main developed economies and remains
00:17:13among the highest in the world, with a gross domestic
00:17:16product close to 4.2 trillion
00:17:19dollars. India is consolidating as the fourth largest
00:17:23economy in the world in nominal terms, while by purchasing
00:17:25power parity it ranks third, only behind
00:17:29China and the United States. This performance is complemented by a
00:17:33domestic market of more than 1.45 billion
00:17:36inhabitants, the largest on the planet, whose growing middle
00:17:40class drives consumption, investment and the
00:17:43expansion of sectors such as construction, services
00:17:46and manufacturing industry. India's
00:17:49rise also occurs in an international context
00:17:52marked by the reorganization of global supply chains.
00:17:56Companies from different sectors seek to diversify their production
00:17:59centers, reduce geopolitical risks and expand their
00:18:03presence in new markets, factors that have
00:18:06made the country one of the main destinations for foreign
00:18:11the growth figures, the true transformation
00:18:15consists of understanding what economic policies are
00:18:18driving this change and why more and more analysts
00:18:21believe that India could become one of the main
00:18:25engines of the world economy in the coming
00:18:28decades. India's rapid growth is not only due to the dynamism
00:18:31of its domestic market. Let's see the details
00:18:35below. Over the last decade,
00:18:39India has promoted a strategy aimed at strengthening
00:18:42its industrial capacity through investments in
00:18:45infrastructure, production incentives and the attraction
00:18:48of international companies seeking to diversify their supply
00:18:52chains. One of the main axes of this policy is the
00:18:56Make In India program, launched to
00:18:58increase the weight of manufacturing within the economy and
00:19:02turn the country into a global production hub. Added to this are
00:19:06initiatives such as the Production Linked Incentives,
00:19:09PLI, which offer economic incentives to boost
00:19:13strategic industries such as electronics,
00:19:16semiconductors, battery manufacturing, pharmaceutical
00:19:19products and the automotive sector. Infrastructure
00:19:22also plays a central role in this
00:19:25strategy. In recent years, the Indian government has
00:19:29steadily increased public investment in
00:19:32highways, industrial corridors, ports,
00:19:35airports and high-capacity
00:19:37railway networks, the budget allocated to infrastructure
00:19:41exceeds $130 million annually, while
00:19:44logistics projects continue to be developed to reduce
00:19:48transportation costs and improve the competitiveness of
00:19:51exports. These advances are beginning to
00:19:54be reflected in the arrival of foreign direct investment and in the
00:19:58expansion of manufacturing production, technology
00:20:01companies and international manufacturers have expanded
00:20:04their operations in India, taking advantage of an environment that combines
00:20:08skilled labor, a large domestic market and an
00:20:11increasingly modern
00:20:13infrastructure. India's growth no longer depends
00:20:17solely on the manufacturing industry. Over the
00:20:20last two decades, the country has built one of the most dynamic
00:20:23technology sectors in the world, becoming a global
00:20:26benchmark in digital services, software
00:20:29development, innovation and pharmaceutical production.
00:20:33Exports of IT and business services exceed
00:20:36200 billion,
00:20:39driven by national companies that provide technology
00:20:42services to companies around the world, cities
00:20:46such as Bengaluru, Hyderabad and Pune
00:20:50concentrate thousands of companies dedicated to software
00:20:53development, artificial intelligence, biotechnology and
00:20:56digital financial services,
00:20:59technology hubs in
00:21:02Asia. At the same time, the country has become the third largest
00:21:06startup ecosystem in the world, only behind the United
00:21:09States and China. The growth of the digital economy
00:21:13has also been driven by national electronic payment
00:21:16platforms, government digitalization programs and
00:21:19rapid expansion of internet access. Added to this scenario is a
00:21:23pharmaceutical industry that supplies medicines and vaccines to
00:21:27dozens of countries, strengthening India's position within global
00:21:30supply chains. The combination of manufacturing,
00:21:34technology and innovation explains why the Indian
00:21:38economy is increasingly diversifying its sources of
00:21:41growth.
00:21:47India's economic rise also modifies the international
00:21:50geopolitical balance, its growing productive capacity,
00:21:54the size of its market and its demographic weight allow
00:21:58it to expand its commercial relations with different regions,
00:22:02without exclusively depending on a single economic bloc. As a
00:22:05member of the BRICS group, India participates in initiatives
00:22:09aimed at strengthening cooperation among emerging economies and
00:22:12promoting new alternatives for financing and investment. At the same time,
00:22:16it maintains a close economic relationship with the United States, the main
00:22:20destination for its service exports, while deepening
00:22:24trade with countries in Southeast Asia, Africa and West
00:22:27Asia. This diversification strategy has allowed Indian
00:22:31foreign trade to exceed $1.6 trillion
00:22:34in goods and services, consolidating the country as
00:22:38one of the most dynamic actors in international exchange. In addition
00:22:42to expanding its exports, India seeks to position itself as a
00:22:46priority destination for companies that are reorganizing their
00:22:49production chains, this process strengthens its role within an
00:22:53increasingly multipolar world economy, where competition
00:22:56to attract investment acquires a strategic
00:22:59character.
00:23:08Let's go with our Economy 360 segment, talking about France,
00:23:11farmers are turning to drought-resistant crops
00:23:15in the face of climatic
00:23:20In the face of recurrent heat waves and drought, more and
00:23:24more farmers in the Alsace region in northeastern
00:23:27France are opting for crops such as
00:23:31lentils, chickpeas and quinoa. These
00:23:34alternatives require significantly less
00:23:37water and pesticides than traditional
00:23:40crops, adapting better to the new climatic
00:23:44demands. This is the first time I've watered my
00:23:47chickpeas, right in the middle of the bloom. In June, we
00:23:51were hit by the first heat wave, I use irrigation carefully and
00:23:55only water when it is really necessary, because with fuel
00:23:58prices we all know what the costs are, for
00:24:02us irrigation is an important expense, but I'm not going to
00:24:06lose an entire harvest, the production of the whole year due to two
00:24:09weeks of extreme heat and say I'm not going to water because they are
00:24:13chickpeas, I need a decent yield and
00:24:16consumers want to eat local products, so this
00:24:20year I decided to water my chickpeas twice. Faced
00:24:23with the growing climatic pressure, the
00:24:26interprofessional association of fruits and vegetables of France
00:24:29warned about the severe impact that heat waves
00:24:33and violent hailstorms are causing in agricultural
00:24:36and horticultural production. And
00:24:40affirmed that, although the current supply is
00:24:43guaranteed, if these extreme
00:24:46conditions intensify, not only will the volume of
00:24:50harvests be jeopardized in the medium term, but a sustained
00:24:54increase in food prices will be triggered,
00:24:56with temperatures like these, the
00:25:00problem is that plants abort their flowers, they bloom, but
00:25:04then the flowers fall off and nothing develops afterwards,
00:25:07my goal is still to achieve a good yield, because in the
00:25:11end there are people who really
00:25:14the most affected crops are onions,
00:25:18chayotes, carrots,
00:25:22leeks, fennel, radishes,
00:25:25garlic, blueberries and strawberries and since
00:25:28May the European country has suffered
00:25:31three heat waves with maximums of up to
00:25:3444 degrees in some parts of the national
00:25:37territory, likewise, official
00:25:40information indicated that of the total of 101 French
00:25:44departments, 98 are in a
00:25:46drought situation, of which 57 are in
00:25:50a crisis situation with significant restrictions for
00:25:53water use, a panorama that, if it shows no prompt
00:25:57improvement, could generate more complications that
00:26:00prevent the functioning of the national agricultural
00:26:03sector.
00:26:08We continue in Europe. Italy recorded a drop in its industrial
00:26:12production. The National Institute of Statistics Istat indicated that in
00:26:16June of this year, the productive index in Italy
00:26:19decreased in the manufacturing of consumer, intermediate and capital
00:26:23goods, by 0.7%, 0.9%
00:26:26and 2.1% respectively. It highlighted that in the same
00:26:30month, Italy's production decreased
00:26:34by 0.6% compared to the same period last
00:26:37year, with marked decreases in the consumer and intermediate
00:26:41goods sectors of between 3.2 and 1.2 percentage
00:26:44points respectively.
00:26:46It also highlighted that
00:26:50in that period there was an increase compared to the month of
00:26:53May in the energy sector with an increase of
00:26:560.8%, adding that in the second quarter of
00:26:592026, an average production growth of
00:27:020.4% was recorded compared to the results
00:27:05achieved in the previous three
00:27:08months.
00:27:16Time to see oil indicators at the close of this day and
00:27:20I'll start with the Texas intermediate crude barrel which marked
00:27:24$78.9
00:27:26in an increase, which represents an increase of 80 cents
00:27:30per dollar. The Brand barrel in Europe with
00:27:33$83.23,
00:27:36this represents a drop of 29 cents per dollar and the
00:27:39crude averaged by the OPEC basket marked
00:27:42$7.34,
00:27:45also a drop, but this time of $3.8 cents
00:27:48at the close of the
00:27:49day.
00:27:53This concludes the economic scenario in our towns and the world,
00:27:56www.telesurtv.net with this real-time signal also on
00:28:00Telegram, all of Telesur's economic service
00:28:04stay with us,