through the water, these wings will now be imitated in a robot. imagine the penguin by the doctor had the williams of the pen, wayne 3 such as one to use the new vehicle to check oil pipes for leaks and to find rest species of under most the plans something to get excited about and you're up to date. but to stick around coming up after a short break, it's date of your business reporting on india overtaking china for the worlds fastest growing economy. america. timberland, thanks for joining us. the the

cause of the cool grief. but it was just me. of the rushes charm offensive african leaders gather in st. petersburg for russia, africa. summit, mental strength and business ties also on the show. bumpy road ahead. first 5 and 5 of staking up chinese car make here in a bit to boost sales. and india takes the growth crown from china. so i left says

it will be the fastest growing major economy for the foreseeable future. this is dw business i'm of the vina. welcome to the show. russia is hosting 17 african leaders at a russia africa summit in saint petersburg. it's assign moscow once the strength and the 2nd nomic ties with a continent, according to russia, its trade with african countries last year go to nearly $18000000000.00. it's main partners are all julia egypt, olivia and go lot nigeria. and so don ross has biggest exports to africa, our weapons, they account for 44 percent of exports and don't come with human rights strings attached. moscow is also an important food supplier, especially in green and exchange. it gains access to african raw materials and strategic entry like port bases in libya and so done all that you can develop as a senior lecture and politics and international relations and leads beckon's

university. i asked him, what african nations hope to gain from the summit? so well, thank you for helping me. um i think i mentioned uh quite lots of things to gain. uh, but as i stated previously in my rightful uh, prior to these uh, defaulted under lease would be on easiest related to food insecurity. so um show, wait. uh, the easiest with the green due for security on how to solve that green deal will be, uh, the well, the top on the agenda of secondly, uh they would also want to get some security assurance ease from russia. incense off on the new security architecture of going forward. so yeah, quite a lot of things because the game but they need to be able to speak with one voice. that's the only way to kind of get anything from you so much. yeah. you mentioned

uh foot security here earlier today for russian president flooding there, put in pledge to gift african countries, tens of thousands of tons of green, but at the same time he's also destroy ukrainian green export facilities. that africa relies on it and he's torn up an existing deal. so how concrete and how high are these hopes that there will be a real green deal that emerges from the summit and not just gifts? well, that's nice for me. i think of duplicate is nothing, no for this big because all of that is going to rely on g to the needs a steady supply of grades and then needs to be reassured that this supply would be guaranteed. so gifted is not good enough. and that's why he said that the needs to be a strategy on how the green, not just from russia also from the train will be assessing, goes to the country. so it's not, this is not that myself. you know, he to my, the whole out to maintain. so like,

i think the medium to long term is another aspect that's playing a big role in the summit of security. the russian, a private military company wagner has a strong foothold and a few african countries like the central african republic and libya. and there doesn't only interfere in these countries leadership, but it also holds a lot of economic weights. for example, by running a vast mining network to other african nations fuel where you have the influence of this private company hold on the economy in these comfortable countries. yes, absolutely. many of the countries, especially in west africa, um uh, various just to call home the role of watching a gun. i use a very woke up voice, especially when it comes to these because they have bought out and didn't know to book, you know, fossil i, country that has very strong ties with what no group i do a whole lot spoken previously on, on this group is not really a problem in being in west africa we, i have a point of view but they do central because of because it said

a lot of human rights atrocities are carried on by just bruce they, they, they do what we absolutely impunity say they did when they had the operations a very, very um, i'll seen in some area. so yes, i agree that maybe the doesn't in does rejoined, not confronted, but we do road on one thing that i think should be on the table will be up to 2 ways. the, the new security architectural going forward, which should be devoid of of private miniature companies, including one that was already inca adella, senior lecture and politics and international relations at leaves beckett university. we're now going to our dw correspondence funding. if a chart in riga dw is reporting on russia from rica since the russian government shutdown dw, is most called bureau funny, we just spoke about what african nations hoped to gain from the summit economically

. what about russia? so if you look at the different panels there with 30 of them in the next 2 days, you really 1st would think that this is a purely economic summit in some way where it's about usually about the trade about cooperation agreements with regard to development and of course this part of these 2 days somebody to but if you zooming and all that a little bit more and also look at the specific time when this somebody takes place, literally just 10 days after ross. yeah. we through from the really crucial grain deal with, with ukraine. that, of course, has a very political meaning here for russia. they're basically looking wildly put for friends, for new friends on the african continent. because of course, it's not since yesterday that russia has an interest in having allies in africa. in fact, historically, if, if you look back in countries, for example, like south africa or on going over when it was still at the soviet union. so the

former soviet union, a support of these countries in the liberation movements, historically speaking already, there is a lot of relationship from the past, but now there's a war in ukraine. so for the past one year, of course we have seen russia been increasingly isolated on the international agenda. so they are looking to applicants when you african partners. and i think that's really the main goal here for russia and for us as president, put in to make sure he can walk away from this summit by saying that he's not just saying because he's already of course, are presenting this summit as a success towards the russian domestic audience, but also to know actually that he has moved partners apart from those career for example, but also policy nafrica a hey w as funny, such are in rico and now to some of the other global business stories making news. and european central bank has announced a new 25 basis point re type reading it's key interest rates to 3.75 percent the if

you begin this journey to tackle high inflation a week ago on wednesday, the u. s. federal reserve also increased interest rates. oil firms including james shaw and to tell energies, reported sliding net profits in the 2nd quarter. oil and gas prices fell in the past 6 months. the development that follows record energy prices after the invasion of ukraine by russia, one of the world's heat energy producers. the international energy agency says global coal consumption at a record high in 2022 and is expected to stay at this level for now. according to the report, the coal consumption grew more than a 3 percent last year, surpassing a 1000000000 tons of such a strong demand from china and india. now some of the coal goes into power and electric vehicles. in china, for example, for decades, china has been the biggest market for german car, brand folks button. but recently,

local car makers are overtaking as folks. i'm is lagging behind the e v market. now it's changing gears folks side and has brought in. it has bought nearly 5 percent of chinese e. v make are expanding. the 2 companies will develop cars together as the start of a german chinese car partnership. if you can be them joining them. that seems to be a fox walgreens plant making a deal with local maker ex, paying to happy turn its chinese fortunes around. the chinese conglomerate b y d has now what we've taken fox log in as the top sending brunt tanks to folks loggins' weakness when it comes to electric cause to be why do sold nearly 548000 electric vehicles in the 1st quarter of this year with a nearly 70 percent increase. us manufacturer tests not sold more than 440000 electric cars. in contrast, fox logging on the managed to says 6300 electric vehicles for fox wagon,

it is becoming increasingly difficult to keep up with electric cos. didn't test price competition is also taking a toll on the german altima to giant. more than 40 manufacturers, including tesla have cut their prices for electric vehicles in china. volkswagen is now attempting to contract this with large investments, but it appears that fox sparking will not do up that easily. de agreements with ex, paying indicates that the german car maker is doubling down on the chinese market. earlier this week, the international monetary fund released the global economic outlook warning of slowing growth ahead. but there was one bright spot, india, which is set to grow more than 6 percent this year. that's more than any other major economy. according to the i m. s. an increase in indian domestic investment is here and also said the growth is set to continue in the years ahead. i'm joined

now by the w's daily corresponding charo card to k t r. what fueling india's economic success. it was a different expos, have different opinions about it, but the i'm a see you is that the growth is primarily being fueled by domestic investment. there's a lot of capital expenditure that is happening. in fact, in the us, the government's data shows that investments rose by almost 9 percent during the january march period, which is also the period which the i am of has looked at for its assessment. there's a lot of infrastructure spending that is happening and primarily in sectors like roads and v ways. they don't have highways and expressed ways of being built. so uh, that seems to be the primary driver of growth at this point of time. money taro. india recently overtook china as the world's most populous country. a lot of people are speaking about a demographic dividend also driving economic success. there. is that an accurate

picture? well, that demographic dividend has become more of a challenge now. i'm very given the fact that unemployment is, is that really high levels in the country does estimated to be upwards of 7 percent . in fact that a private estimates that's probably supposed to say that could be over 80 percent. you would find employment is even higher. it's, it's in double digits. so this is a big challenge, which would be the jimmy's to be not just so near to him, but a, but a long term medium term as well as long term challenge for the country. how to secure jobs to millions of youth, especially who are waiting for jobs. many factors are held responsible for that, but that is something that is being highlighted as of now it's, it's a big challenge, a dw, as charl car to kay in delhi. and that's our show. thank you so much for watching for me and the business team here in berlin. you next time,

take care the into the conflict with tim sebastian america expecting to stay down to the clinton was finally engaging in the long delay that's. that's a whole slide in us. china relations. the main sticking point is go tie one. i guess the time when these foreign minister, joseph, the islands living on conflict, on dw the thread to the baltic states. what would happen is russia attacked lithuania, health, and military rehearsal for, in this scenario. in spring of 2023. it was a large scale exercise led by germany with international cooperation and exclusive

look at military tactics. and what motivates soldiers to keep going? in 60 minutes on dw the what there's to us that's why we listen to their stories. reporter every weekend dw, the americans, secretary of state, hampton. a lincoln was finally engaging in a long delayed effort to hold the slide in us china relations. the main speaking point is still tie one with the chinese determined to be unified and warning the west to stay out of the cool interests. my guest, the inside pay is the tie. one east foreign minister, joseph luke, is the island living.