'India's behaviour violated agreements...It's a serious military provocation'
As a result, the global investment in developed countries will triple in the next two decades.
It is time the political leaderships in this country arrived at a common ground over issues of foreign and security policy concerns. There has to be a greater communication between the government and the Opposition leaderships for the nation to present a unified face against the rest of the world, advises N Sathiya Moorthy.
In a written reply to a question in Lok Sabha, Minister of State for External Affairs V Muraleedharan gave a brief account of the four-month-long standoff and said the Chinese side attempted to transgress the Line of Actual in several areas of the western sector since mid-May.
'In Eastern Ladakh the Chinese attempted salami slicing.' 'Our response has been superb. Our military has responded magnificently.'
The 16th round of military talks between India and China on the lingering border standoff in eastern Ladakh will be held on July 17 on the Indian side of the Line of Actual Control (LAC) in the region, official sources said on Friday.
The remarks by China's deputy permanent representative to the UN, Geng Shuang, came during an emergency meeting of the Security Council on the situation in Afghanistan on Monday after the sudden and rapid takeover of the Afghanistan government by the Taliban insurgents.
The bank will have initial authorised capital of $100 billion
India is looking forward to a "constructive" dialogue with China to resolve issues in remaining friction points in eastern Ladakh, sources in the security establishment said on Monday ahead of the 14th round of military talks between the two sides on the 20-month row.
In the Sensex pack, NTPC, Tata Steel, SBI and IndusInd Bank were among the major laggards. In contrast, Wipro, HCL Tech, Mahindra & Mahindra and Nestle were among the nine stocks that defied the trend.
Equity markets rallied after softer-than-expected inflation data in the US and UK rekindled hopes of the end of the rate-hiking cycle by major central banks. The soft inflation reading drove down bond yields and the US dollar, whetting the appetite for risky assets. The 10-year US bond yield fell below 4.5 per cent after topping 5 per cent less than a month ago.
Wilful defaulters owe SBI Rs 80,000 crore. 10 nationalised banks are owed another Rs 1.5 trillion.
The Industrial and Commercial bank of China (ICBC) is the world's largest bank in terms of market capitalisation, profitability and customer deposits.
The Chinese government is imposing severe restrictions on their tech companies - whether it is on data security, marketing practices or floating an IPO. Should this be music to the ears of Indian start-ups and home-grown private equity (PE) funds? Ask Indian start-ups and the answer is a resounding "yes".
During their hour-long in-person meeting on the sidelines of a Shanghai Cooperation Organisation (SCO) conclave in Dushanbe on Wednesday, External Affairs Minister S Jaishankar also told his Chinese counterpart and State Councilor Wang Yi that any unilateral change in the status quo along the Line of Actual Control (LAC) was 'not acceptable' to India and that the overall ties can only develop after full restoration of peace and tranquillity in eastern Ladakh.
India on Thursday blamed China's actions of amassing a large number of troops close to the border and attempts to unilaterally alter the status quo along the Line of Actual Control (LAC) last year for the continuing military standoff in eastern Ladakh, and asserted that these acts were in violation of Sino-India bilateral agreements.
'The Chinese are retaining geostrategic pressure on India by keeping troops there and building infrastructure continually.'
Modi knew in his heart that India does not have the financial muscle to support the new bank with offers of co-financing international projects, something China can do from the bank's base in Shanghai. If established in Mumbai, it may have employed a few Indian bankers and satisfied the national ego but there was little financial value to be drawn from it.
"The meeting thus did not result in resolution of the remaining areas," the Army said in a statement.
Citing various macroeconomic parameters that are doing pretty well, India's G20 Sherpa and former CEO of Niti Aayog Amitabh Kant projected that the country is all set to overtake Japan as 4th largest economy in the world by 2025. The size of India's GDP is currently ranked 5th, after the US, China, Germany, and Japan. It overtook the UK in 2022.
India and China are likely to hold the 16th round of high-level military talks on July 17 to resolve the issues in remaining friction points along the Line of Actual Control (LAC) in eastern Ladakh, people familiar with the development said on Wednesday.
Situated at a height of 15,200 feet above sea level, the pass sits on the top of a craggily formed Himalayan range that separates the Tibetan plateau from the Indian sub-continent.
'We added a significant number of freshers in Q1. You will see a good number of hiring in Q2 as well.'
India and China are likely to hold another round of diplomatic talks this week on eastern Ladakh with a focus on moving forward in disengagement of troops in the remaining friction points, people familiar with the development said on Tuesday.
The meeting came after the Indian Army thwarted an attempt by the Chinese Army to transgress into Indian areas near the southern bank of Pangong Tso near Chushul in Ladakh on the intervening night of Saturday and Sunday.
The Delhi high court on Wednesday allowed Chinese smartphone maker Vivo to operate its various bank accounts frozen by the Enforcement Directorate in connection with a money-laundering probe subject to furnishing of a bank guarantee of Rs 950 crore within a week with the agency. Justice Yashwant Varma also directed the company to give details to ED about its remittances and issued notice to the investigating agency on Vivo's plea seeking quashing of the order freezing its various bank accounts. ED contended that presently the proceeds of crime have been quantified to Rs 1200 crore.
'The Indian Army's surveillance had noticed the Chinese movements.' 'There was no intelligence failure.'
"I still have not heard a credible explanation as to why they chose to bring that size of forces to that sector of our border. Now, if peace and tranquility is disturbed and attempts are being made to change the LAC status quo unilaterally and large forces are brought to the border in contravention of written agreements, then obviously the relationship will be impacted," he said.
India and China achieved a major milestone this year when their bilateral trade crossed the landmark figure of $100 billion but it did not generate any fanfare in both capitals as the two Asian giants are going through a "particularly bad patch" in their relations due to a set of actions by Beijing in violation of agreements that led to the military standoff in eastern Ladakh. Starting with a modest $1.83 billion in 2001, the bilateral trade crossed $100 billion-mark in the first 11 months this year, a significant milestone for which the two countries carried out campaigns to boost trade and build it as a major stakeholder to improve the relations between two nations, whose ties otherwise remained frosty over the festering boundary dispute and strategic rivalry. According to last month's data from China's General Administration of Customs (GAC), the India-China bilateral trade totalled $114.263 billion, up 46.4 per cent year-on-year from January to November 2021.
'It makes sense to have gold in one's portfolio keeping the political and economic risks of 2024 in mind.'
China routinely objects to Indian leaders' visits to Arunachal Pradesh to buttress its stand.
One bill provides $60.8 billion for Ukraine, with over 80 percent of it for helping Kyiv amid its ongoing war with Russia, including replenishing supplies of US made weapons and ammunition.
India will become the third largest economy by 2027-28, with a GDP of over $5 trillion, Finance Minister Nirmala Sitharaman said on Wednesday. Even going by conservative estimates, the size of the Indian economy will be $30 trillion by 2047, she noted. "It is possible that we will be the third largest economy by 2027-28, and our GDP will cross $5 trillion by that time. By 2047, it is a conservative estimate that we will reach at least $30 trillion in terms of economy," Sitharaman said at the Vibrant Gujarat summit.
India decisively withstood global headwinds in 2023 and is likely to remain as the world's fastest-growing major economy on the back of growing demand, moderate inflation, stable interest rate regime and robust foreign exchange reserves. Despite widespread pessimism witnessed among the developed nations and the worsening geopolitical situation, India recorded a gross domestic product (GDP) expansion of 6.1 per cent in the March quarter. The growth moved up to 7.8 per cent in the June quarter and was 7.6 per cent in the September quarter. For the first six months of this fiscal, the growth was 7.7 per cent.
India has no option but to shut China out, notes T C A Srinivasa-Raghavan.
The BRICS Development Bank could become a World Bank in future due to the increasing influence of emerging countries, chairman of Goldman Sachs Asset Management said on Wednesday.
Gold is an excellent asset class for diversification and should be included in all long-term portfolios.
The fresh round of Corps Commander-level talks took place at the Chushul-Moldo border point on the Chinese side of the Line of Actual Control in eastern Ladakh, they said.
Russia and the US are the major partners in the ISS programme, which also includes Canada, Japan and several European nations like France, Italy and Spain.
