The major general-level meeting discussed ways to implement the disengagement of troops from Galwan Valley as agreed during high-level military talks between the two sides on June 6. The Indian delegation at the talks was led by Leh-based 3 Infantry Division commander Major General Abhijit Bapat. The two sides held Major General-level talks on Tuesday as well.
NavIC consists of a constellation of seven satellites and a network of ground stations and is touted to be more accurate than GPS.
India's dream to be in the forefront of international politics has come true. India has placed itself firmly as a major player in the shaping of a new world order, observes Ambassador T P Sreenivasan.
From the Sensex pack, State Bank of India, Axis Bank, IndusInd Bank, Tech Mahindra, HCL Technologies, Tata Consultancy Services, Maruti Suzuki, Tata Steel and Tata Motors were the major gainers. Power Grid and HDFC Bank were the laggards from the pack.
'One way of doing this could be offering credit guarantee to the banks, say 10 per cent, for fresh loans given to micro, small and medium enterprises,' observes Tamal Bandyopadhyay.
Top gainers in the Sensex pack included Kotak Bank, HCL Tech, HUL, TCS, Bharti Airtel, Asian Paints, Bajaj Finance and SBI, while Reliance Industries, Tech Mahindra, ICICI Bank and Infosys ended with losses.
Ahead of the Union Budget for 2023-24, Budget makers have welcomed the global consensus view that India will remain one of the bright spots in calendar year 2023. But there is some alarm over the grim global situation and how that might impact the Centre's projections and assessments for next financial year. The big global headwinds include a deep and sustained recession in the West, including India's biggest trading partners in North America and Europe, continuing volatility in commodity markets, and renewed Covid-19 fears, as lifting of strict curbs by China could potentially lead to a massive spread again.
The Reserve Bank on Wednesday allowed inbound travellers from G20 nations arriving at select airports to use the popular UPI for making payments in the country. Later, the RBI also proposes to extend the Unified Payments Interface (UPI) facility to travellers from all countries. UPI is a system that powers multiple bank accounts into a single mobile application, merging several banking features, seamless fund routing & merchant payments into one hood.
China has launched a host of reforms to halt the slow down of the economy, which is hovering around seven per cent with forecasts that it would dip down further.
The new data comes a day after China and the US signed a long-awaited phase one deal, marking a ceasefire in the 18-month-long trade war which saw the world's two largest economies slap 25 per cent tariffs on about half a trillion-dollar worth of each other's exports. The world's second-largest economy grew by 6.1 per cent last year, its worst performance since 1990, but it remained above the psychologically important mark of six per cent, according to the National Bureau of Statistics (NBS).
In the list of world's 50 biggest banks for 2012, China has six banks in top 50-the largest group from any single country, according to Global Finance.
The time is ripe to extend the confrontation with the Chinese to the maritime domain, says former RA&W officer Krishan Varma.
'China has forcibly occupied territory it had never occupied before, blocked Indian patrols' access to areas they had patrolled for decades and, most provocatively, killed 20 Indian soldiers.' 'Most countries would regard these as acts of war.' 'New Delhi has apparently taken off the table the option of evicting the PLA with force,' observes Ajai Shukla.
India's voting pattern in the United Nations with regard to the Israel-Palestine conflict is lately marked by a calibrated distancing from Israel, observes Ambassador M K Bhadrakumar.
The leaders of the five emerging market economies are expected to sign a deal on Tuesday that creates the $100 billion bank and a reserves fund of the same size to challenge Western dominance over global finance.
'There is no Buddha or Gandhi among countries, existing for the service of others; they all exist for the good of themselves.' 'For each country, its own interests should be paramount, and it is futile and churlish to expect China to be an exception to this rule,' says B S Raghavan, the distinguished civil servant and long-time China-watcher.
'By not even acknowledging China's occupation of Indian territory Modi signalled to Beijing that he was not prepared to used forceful means to vacate the Chinese occupation, and that his government was reconciled to this loss of territory and accepted the fait accompli engineered by the PLA.'
The Indian side forcefully pressed for early resolution of the standoff and particularly insisted on expeditious disengagement in Hot Springs and Gogra, a source said.
The Chinese have only created limited defences for protection of their posts which are located well in depth and much away from the Line of Actual Control, notes Colonel S Dinny (retd).
Indices across Indian equity markets have edged towards new record highs before undergoing a small correction in the past few sessions. The National Stock Exchange Nifty has gained 20 per cent in the past year; mid-caps (up 33 per cent), small-caps (up 31 per cent), and micro-caps (up 44 per cent) have done better. Several factors have precipitated this rally.
Speaking at the RSS's annual Vijayadashami rally in Nagpur which was broadcast online and attended 50 swayamsevaks (volunteers) due to the COVID-19 guidelines, Bhagwat said when the Sangh says Hindustan is 'Hindu Rashtra', it does not have any political or power-centered concept in its mind.
Foreign portfolio investors (FPIs) turned net buyers in October after being net sellers in the previous month. In October, FPIs bought shares worth nearly Rs 8,430 crore ($1 billion) against net selling of Rs 13,405 crore ($1.6 billion) in September. Positive flows during three of the previous four months have pushed the domestic markets towards fresh all-time highs. At present, the Sensex and Nifty are less than 2 per cent shy of breaching record highs logged in October 2021. A rally in equity markets in the US and Europe is in hopes that the Federal Reserve may go soft on rate hikes after its November meeting.
What is more surprising is that a surge in Russian oil supplies has come after the G7 imposed stringent sanctions on Moscow.
Sources said the Indian side has prepared very well for responding to the Chinese reaction in view of the action by own troops including a Special Operations unit and Sikh Light Infantry troops there.
The Indian side also told the Chinese delegation that the talks on disengagement should include Depsang as well as all face-off sites, insisting that it should be a simultaneous process and not a selective one.
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