Connect with us

Business

Narendra Modi has his eyes set on boosting business: Joao Cravinho, EU Ambassador

Published

on

ET Logo
While the world’s democratic superpower was maintaining armslength from Narendra Modi (then Gujarat Chief Minister in 2012-13), Europe led by an European Union delegation in India was quietly engaging with the BJP leader nearly two years before the Lok Sabha elections. In fact, Ambassador Joao Cravinho, head of the EU delegation, led Ambassadors of various European countries to a quiet lunch with Modi at the capital last year. And in the runup to the polls, he even travelled across India to get a sense of the probable outcome and interacted with all players cutting across the political spectrum, something foreign envoys seldom do. In an interview with ET, Ambassador Cravinho described India’s new Prime Minister as a man with clarity of thought who has a clear vision for India and governance. The Ambassador feels that EU member states have the potential to drive Modi’s economic diplomacy and help boost India’s economic health.

How do you view this victory of Narendra Modi and the BJP? And how will it impact the Indian economy?

We want India to do well. This election has ensured that there’s political stability for the next five years. A decisive leadership would mean tougher decisions, and no good governance is possible without tough decisions. The BJP-led NDA has a clear mandate to take bold and innovative decisions. International politics is not about zero-sum game and while India would economically engage other powers, EU has the potential to drive growth in India. EU is already the single biggest trading partner as a bloc, and is the single largest source of FDI for India as a bloc. We are ready to meet India’s needs in the fields of technology and funds.

You have interacted with Modi when he was the Gujarat Chief Minister. How do you rate him as a leader of modern India?

Advertisement

As a former Secretary of State for Foreign Affairs and Cooperation of Portugal, I had interacted with various leaders worldwide and I can say that Mr Modi is among the best. He has clarity of thought and clear vision of governance and that’s what India requires. He also has a very clear understanding of the challenges before the country. He is a good listener as well as a good talker and can engage in enriching discussions. No Prime Minister would like to have communal strife on his record, and I am certain that he would not allow any communal tensions in India. His priority is to boost the economy and he has his eyes set on that.

Where do India-EU relations go from here? What are the priority areas for India-EU and what’s the future of Free Trade Agreement that’s being negotiated for many years now?

Negotiators from India and European Union are on the job to conclude the FTA. The proposed agreement will lead to greater openness. In the past, EU held discussions with the BJP on the FTA. We take Mr Modi’s speech on economic issues on February 27 as a positive. I have no doubt that the FTA will benefit India. We hope that there will be progress in FTA before the next India-EU Summit at Brussels.

Advertisement
Continue Reading
Click to comment

You must be logged in to post a comment Login

Leave a Reply

Business

ECB’s Lagarde says Eurozone inflation shock will last longer

Published

on


ECB’s Lagarde says Eurozone inflation shock will last longer

Continue Reading

Business

New report of attack on Strait of Hormuz shipping fans fears of threats to oil supplies

Published

on


New report of attack on Strait of Hormuz shipping fans fears of threats to oil supplies

Continue Reading

Business

Stocks Snap Losing Streak With 1% Rally Ahead of Expected Fed Hike

Published

on

Stocks Little Changed After Fed Decision

The stock market ended the week on a high note, with all three major indexes taking part in a broad rally on Friday.

The S&P 500 rose 0.9%. The Nasdaq Composite gained 1%. The Dow Jones Industrial Average gained 1%, or 508 points.

Stocks ticked higher after August’s consumer price index data fueled a surge in odds that the Fed will raise rates, removing some uncertainty from the market.

Continue Reading

Business

Costco’s Frankenstein chocolate and gummy Halloween treat is 5.5 pounds and $55

Published

on

Costco's Frankenstein chocolate and gummy Halloween treat is 5.5 pounds and $55

A chocolate Frankenstein head filled with gummy candy being sold for more than $50 at Costco is going viral on social media.

The hefty Halloween treat weighs 5.5. pounds and includes a mallet to smash the monster’s head and get at the gummies, which are shaped like body parts.

Advertisement

The “Monster Mash Chocolate” made by Ten Acre Gifts sells for $54.99 at the wholesaler and for more than $60 online, although it appeared to be sold out on Costco’s website Saturday evening.

PUMPKIN SPICE INVADES SUMMER AS AMERICANS KICKSTART FALL TRADITIONS EARLIER THAN EVER

Split of a Costco store and the Monster Mash Chocolate

Costco is selling a $55 “Monster Mash Chocolate” candy Frankenstein in time for Halloween. (Charles-McClintock Wilson/NurPhoto via Getty Images; Costco.com / Getty Images)

The label says the candy is 150 calories per serving and includes 25 servings.

While some Halloween fans were in love with the chocolate treat, others thought it was a little over the top.

Advertisement

One person on Instagram said they would consider it if they were hosting a Halloween party and another commented: “Hard pass but would make a great prank Christmas gift.”

COSTCO FANS ERUPT AFTER BELOVED FOOD COURT ITEM REPLACED BY HIGH-CALORIE NEWCOMER

Monster Mash Chocolate

Costco is selling a chocolate Frankenstein head filled with gummy candy that weighs 5.5 pounds. (Costco.com / Unknown)

“Costco looked at Halloween and said, ‘What if a piñata… but medically concerning?’” someone else joked on X.

Ticker Security Last Change Change %
COST COSTCO WHOLESALE CORP. 904.77 +2.39 +0.26%

Another X user professed: “This is now a priority need in my life…”

Advertisement

LINES WRAP AROUND BLOCK AS CUSTOMERS WAIT HOURS FOR VIRAL DOT CAKES THAT SELL OUT WITHIN MINUTES

Halloween display at Costco

Shoppers walk by a Costco Halloween display in New York.  (Lori Van Buren/Albany Times Union via Getty Images, File / Getty Images)

“Imagine explaining to someone that your Halloween candy comes with its own demolition tool,” someone else posted on X, and another user joked, “A hammer for Halloween candy is insane. Costco wass like, safety can wait.”

CLICK HERE TO DOWNLOAD THE FOX NEWS APP

The product was even selling on eBay for as much as $100.

Advertisement

FOX Business has reached out to Costco for comment.

Continue Reading

Business

SpaceX Eyes $100 Billion Revenue Goal With AI Deal, Starship Flight Ahead

Published

on

SpaceX Eyes $100 Billion Revenue Goal With AI Deal, Starship Flight Ahead

SpaceX CFO Bret Johnsen provided an update on the company’s sales targets and Starship test flight plans while speaking at a Goldman Sachs conference on Thursday. The rocket maker landed a new AI compute customer worth about $13 billion annually, while the Starship flight later this month will mark the spacecraft’s first revenue-generating mission. SPCX stock rose Friday, trading near…

Copyright ©2026 Investor’s Business Daily, LLC. All rights reserved. 87990cbe856818d5eddac44c7b1cdeb8

Continue Reading

Business

JPMorgan Taps Longtime Executives to Run $2.4 Trillion U.S. Private Bank

Published

on

JPMorgan Taps Longtime Executives to Run $2.4 Trillion U.S. Private Bank

JPMorgan Taps Longtime Executives to Run $2.4 Trillion U.S. Private Bank

Continue Reading

Business

Oil Futures Pull Back After Major Gains

Published

on

Oil Futures Pull Back After Major Gains

1539 ET – Oil futures slip but post weekly gains on escalating conflict in the Middle East, with Yemen’s Iran-backed Houthis stepping up attacks on Saudi facilities and making territorial advances to strengthen their position near the Bab al-Mandeb Strait. “Although much of today’s price pullback appears attributable to talk of Middle East countries discussing a reopening of the Strait of Hormuz, and some bearish demand aspects to today’s monthly IEA report, the larger negative driver in our opinion, is simply a deserved market correction following this week’s dramatic gains,” Ritterbusch & Asosciates says in a note. WTI settles down 2.4% at $100.05 a barrel for a 9.4% weekly gain. Brent falls 2.8% to $104.61 and is up 8.7% on the week. (anthony.harrup@wsj.com)

Oil Demand Loss More Damaging for Developing Countries

1239 ET – The IEA’s latest estimate for a 2.5 million barrels-a-day drop in oil demand this year because of the U.S.-Iran conflict puts losses on a par with declines in 2008/09 combined during the global financial crisis, says Raymond James investment strategy analyst Pavel Molchanov. “In developed economies, oil demand destruction involves mostly mild effects, such as suspended airline routes. In lower-income countries, more painful impacts—factory closures, fuel rationing—are visible.” The IEA sees demand barely recovering pre-conflict levels in 2027, “and a portion of demand destruction may be permanent,” he adds.(anthony.harrup@wsj.com)

Copyright ©2026 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8

Continue Reading

Business

Authentic Taps Union Group for Lee’s Operations in Mexico

Published

on

Authentic Taps Union Group for Lee’s Operations in Mexico

Authentic Brands Group continues to grow its network of partners for Lee.

On Friday, the global brand and entertainment company announced a strategic partnership with Union Group for Lee in Mexico. The agreement will take effect following Authentic’s previously announced acquisition of Lee from Kontoor Brands, which is expected to close in the second half of 2026.

More from WWD

Union Group will serve as Lee‘s strategic operating partner in Mexico, leveraging its extensive capabilities and expertise across product development, sourcing, retail, wholesale distribution and e-commerce.

Advertisement

The fully integrated operator has more than 40 years of experience in Mexico, including overseeing the operations for several of Authentic brands. Their partnership began more than a decade ago with Nautica and has since expanded to include Aéropostale, SHAQ, Reebok, Quiksilver, among others.

“Union Group has been a trusted partner to Authentic for many years,” said Victor Alvarino, SVP head of Mexico, Authentic. “Their strong operating capabilities, retail relationships and deep understanding of the Mexican consumer make them an ideal partner for Lee. Lee is an iconic brand with tremendous heritage and significant growth potential in Mexico, and together we have a great opportunity to accelerate its growth and build the brand for the long term.”

Authentic has inked several deals for Lee in recent weeks. Shanghai Huizhong, a wholly owned subsidiary of the HiMaxxGroup, will be the operating partner for Lee across China, Hong Kong and Macau. Authentic also formed strategic partnerships for Lee with One Jeanswear Group for North America and Experience Group across Europe.

“We are proud to expand our longstanding partnership with Authentic by welcoming Lee,” said José Tawil, CEO of Union Group. “Lee is an iconic global brand with a rich heritage and strong foundation in denim and lifestyle, one that generations of Mexican consumers have known and loved. We look forward to working alongside Authentic to bring Lee back to the top of mind position it deserves—e expanding the brand in Mexico and creating new opportunities for its long-term growth.”

Advertisement

Best of WWD

Continue Reading

Business

Five Warning Signs the AI Stock Bubble Is in Its Final Stages

Published

on

Five Warning Signs the AI Stock Bubble Is in Its Final Stages

Five Warning Signs the AI Stock Bubble Is in Its Final Stages

Continue Reading

Business

Saudi Arabia Shuts Key Crude-Oil Pipeline

Published

on

Here’s What the Big Bank CEOs Got Paid in 2025

Saudi Arabia’s Energy Ministry said the East-West pipeline was hit several times Thursday in attacks that caused a number of injuries and led the kingdom to shut it down. The crucial pipeline carries crude from Saudi Arabia’s producing heartland on the Persian Gulf to Yanbu on the Red Sea, bypassing the blockage in Hormuz.

Saudi Arabia’s oil industry was already reeling. The kingdom’s crude-oil production fell to its lowest level in more than three decades last month, dropping by 2.3 million barrels to 6 million barrels a day in August, the International Energy Agency said in a report Friday. Saudi Arabia produced around 9.4 million barrels a day on average last year.

Continue Reading

Trending

Copyright © 2025