Union commerce and industry minister Piyush Goyal on Monday raised various concerns about food security and TRIPS (Trade Related aspects of Intellectual Property Rights) wavier at the WTO Ministerial in Geneva.

The global growth rate is estimated to slump from 5.7 percent in FY2021 as the World Bank lowered it to 2.9 percent for the present fiscal year, from the previously estimated 4.1 percent.

According to the data of the commerce ministry, in 2021-22, the bilateral trade between the US and India stood at USD 119.42 billion as against USD 80.51 billion in 2020-21. During 2021-22, India's two-way commerce with China aggregated at USD 115.42 billion as compared to USD 86.4 billion in 2020-21, the data showed.

Inflation is the rate of increase in the price of goods and services in an economy. According to the International Monetary Fund (IMF), there will be significant inflation pressures around the world in 2022 with developing economies being the worst hit. The IMF had projected inflation to reach 8.7 percent for the year for developing nations. However, it revised the inflation projection upwards by 2.8 percent after Russia’s invasion of Ukraine. Here’s a look at the countries with the highest inflation in 2022-