Page 84 - India

ICC Board Meet: India gets maximum share from revenue distribution

The BCCI reaffirmed its status as the financial powerhouse of world cricket as the ICC unanimously passed the revenue distribution model at its all-powerful board meeting in Durban on Thursday. In another important development, the ICC has put a cap on overseas cricketers plying their trade for teams in various leagues, keeping it to four players per playing XI in new events. This is primarily meant for T20 leagues starting in every nook and corner, which is posing a threat to the international version of the game. While the ICC media release didn't state the quantum of revenue that the BCCI will generate from the new distribution model, it is expected that the Indian board will annually earn USD 230 million from the USD 600 million pot for the next four years. It is around 38.4 percent approximately and at least six times more than England and Wales Cricket Board (ECB), who are set to receive approximately USD 41 million at 6.89 percent and Cricket Australia (CA) who will get 37.53

MEA terms Europe's resolution on human rights in India 'unacceptable'

The European Parliament on Thursday adopted a resolution on the human rights situation in India, with particular reference to the recent clashes in Manipur, a move rejected by India as "unacceptable" and a reflection of "colonial mindset". The Parliament in Strasbourg, France, called on Indian authorities to put in place measures to halt the ethnic and religious violence and to "protect all religious minorities". Responding to media queries on the development, Ministry of External Affairs Spokesperson Arindam Bagchi said that "such interference in India's internal affairs is unacceptable, and reflects a colonial mindset". "We have seen that the European parliament held a discussion on developments in Manipur and adopted a so-called Urgency resolution," he said. He said that the Indian authorities at all levels, including the judiciary, are seized of the situation in Manipur and are taking steps to maintain peace and harmony and law and order. "The European parliament would be well

Europe adopts resolution on human rights in India, referring to Manipur

The European Parliament on Thursday adopted a resolution on the human rights situation in India, with particular reference to the recent clashes in Manipur. The Parliament in Strasbourg, France, called on Indian authorities to put in place measures to halt the ethnic and religious violence and to "protect all religious minorities". On Wednesday, Foreign Secretary Vinay Kwatra said EU parliamentarians concerned are being reached out and it has been made clear to them that it is a matter "absolutely" internal to India. Manipur has been witnessing violent clashes, especially between Kuki and Meitei communities for close to two months. "This is a matter totally internal to India," Kwatra said, replying to a question on the matter at a press conference in New Delhi. "We made a reach-out to the concerned EU parliamentarians. But we made it very clear that this is a matter absolutely internal to India," he added. The resolution entitled 'India, the situation in Manipur' was initiated by

India-China trade witnesses first signs of slowdown in years: Report

The India-China trade, which in recent years rose sharply despite bilateral tensions over the border dispute, showed the first signs of a slowdown in years falling by 0.9 per cent in the first half of this year. This came as China's overall foreign trade declined by about five per cent as its economy struggled to recover from COVID blues. China's exports to India in the first half of this year totalled USD 56.53 billion compared to USD 57.51 billion last year registering a decline of 0.9 per cent, according to the data released by Chinese customs on Thursday. India's exports to China during the same period totalled USD 9.49 billion compared to USD 9.57 billion last year. The trade deficit in the first half of 2023 too declined significantly to USD 47.04 compared to USD 67.08 billion last year. Last year was a bumper year for India-China trade as it touched an all-time high of USD 135.98 billion despite the continued chill in the bilateral ties over the military standoff in eastern

OPEC upbeat over 2024 global oil demand outlook despite headwinds

The report also showed OPEC's oil production rose by 91,000 bpd to 28.19 million bpd in June, led by Iran and Iraq, despite output cuts pledged by OPEC+

India has shown it's possible for harmony to exist amid diversity: PM Modi

Prime Minister Narendra Modi has said that India as the world's largest democracy has demonstrated that it is possible for harmony to exist amid diversity and underscored the natural expectation of adjustments in the international system and institutions to give the country its rightful place. Modi told French newspaper Les Echos in an interview that India's young and skilled workforce is steeped in openness and democratic values, and is eager to embrace technology and adapt to the changing world. "When many countries in the world are ageing and their populations are shrinking, India's young and skilled workforce will be an asset for the world over the decades to come. As the world's largest democracy with unparalleled social and economic diversity, our success will demonstrate that democracy delivers. That it is possible for harmony to exist amidst diversity," he said. The progress of one-sixth of humanity will give the world a more prosperous and sustainable future, he said replyi

Tesla in talks with India to set up factory with 500,000 annual capacity

India was keen for Tesla to manufacture vehicles locally, but the company said it wanted to export its cars first so that it could test the strength of demand

'Integrating renewable energy in power system crucial to meet climate goal'

Integrating more renewable energy in the power system is crucial for India to meet climate goals, the Institute for Energy Economics and Financial Analysis (IEEFA) said. In its latest report, IEEFA has also suggested various measures to ramp up the share of clean energy in the country's power system. To cut emissions, India needs to increase renewable energy integration/absorption, the report said. "While India has been adding renewable energy capacity at a fast pace to meet its emissions intensity reduction target for 2030, the country needs to ramp up the share of clean energy in its power system. Integrating more renewable energy in the power system is crucial for India to meet climate goals," it noted. For India to meet growing electricity demand while addressing climate concerns, increased integration of clean energy, including variable renewable energy, is essential, IEEFA Energy Analyst and the report's author Charith Konda said. While raising non-fossil fuel power installe

India mulls banning exports of most rice varieties as local prices surge

The government is discussing a plan to ban exports of all non-Basmati rice, according to people familiar with the matter

Haven't seen peaceful coexistence like India: Muslim World League chief

Muslim World League secretary general Sheikh Mohammed bin Abdulkarim Al-Issa on Wednesday said the diversity of thought in India has impressed him a lot and asserted that he has not experienced anywhere else the kind of peaceful coexistence he has witnessed in the country. Addressing a gathering at the Vivekananda International Foundation here, Al-Issa also stressed the importance of interfaith dialogue to combat misconceptions and said there is a need to protect and guide the next generation right from early childhood in order to prevent a clash of civilisations. Al-Issa, who is on a visit to India, has met President Droupadi Murmu and Prime Minister Narendra Modi. Speaking in Arabic, he said Indian philosophy has been instrumental in the progress of humankind. "The diversity of thought in India has impressed me a lot.... The world can benefit from India's wisdom," Al-Issa said. Talking about promoting peaceful coexistence globally, he said there is a need to celebrate difference

Gujarat holds talk with Foxconn for its semiconductor plant: Official

Foxconn this week exited its project with Vedanta, which was also planned for Prime Minister Narendra Modi's home state of Gujarat, citing issues such as slow progress

GST Council was unanimous in its decision, says revenue secretary

The government's decision, announced late on Tuesday, created an uproar in the $1.5 billion industry, with shares of casino operator Delta Corp & other online gaming firms plunging in Wednesday trade

Focus shifts to rescue efforts as rains abate in parts of north India

As the weather improved in parts of north India, which was pummelled by heavy rains for days, authorities on Wednesday worked on a war footing to rescue stranded tourists, restore vehicular traffic on arterial roads and prevent floodwaters from entering new areas. In Punjab and Haryana, at least 15 people have died in rain-related incidents, according to government data. As many as 2,000 tourists stranded in Himachal Pradesh's Kasol were evacuated and more than 300 tourist vehicles stuck in Lahaul following landslides and flash floods left for their respective destinations, the state government said. In Delhi, the Yamuna swelled to 207.55 metres on Wednesday, breaching its all-time high of 207.49 metres recorded in 1978, according to government agencies. Delhi has recorded a rapid increase in the Yamuna water level over the last three days. It shot up from 203.14 metres at 11 am on Sunday to 205.4 metres at 5 pm on Monday, breaching the danger mark of 205.33 metres 18 hours earlier

On track to achieve over 25% of total sales from EVs this fiscal: MG Motor

MG Motor India is on track to achieve over 25 per cent of total sales from electric vehicles this fiscal year as it continues to enhance its product portfolio, according to company Deputy Managing Director Gaurav Gupta. The company has already crossed the 10,000 unit cumulative sales milestone of EVs in the country. On Wednesday, the automaker introduced a top end variant of its electric SUV ZS EV equipped with level two autonomous driving technology priced at Rs 27.89 lakh for a limited period. "We had mentioned earlier that in this financial year also we will see upwards of 25 per cent of our portfolio coming in from electric vehicle sales. At this point in time, we would like to hold that metric and work towards it," Gupta told PTI. He further said, "This will only increase as we go along in terms of new products and also the growth of our current portfolio. We are building up on that journey. Since the Comet is just a recent launch, I think we have started on that journey and i

India home to 2nd largest population of Muslims in world: President Murmu

India, as a multi-cultural and multi-religious society, celebrates unity in diversity and its over 200 million Muslims make the country the second largest population of the community in the world, President Droupadi Murmu said on Wednesday. Welcoming Muslim World League Secretary General Mohammad bin Abdulkarim Al-Issa, who had called on the president at Rashtrapati Bhavan here, Murmu said India appreciates the role and objectives of the Muslim World League in promoting tolerant values, moderation of consciousness and inter-faith dialogue. She stated that India, as a multi-cultural, multi-lingual, multi-ethnic and multi-religious society, celebrates unity in diversity, a statement issued by the Rashtrapati Bhavan said. "Our more than 200 million Indian Muslim brothers and sisters make us the country with the second largest population of Muslims in the world," the president said. Murmu said India attaches great importance to its relationship with Saudi Arabia. She said both the ...

Will continue investments in India, invested $35 bn till date: Anil Agarwal

Foxconn withdrew from a $19.5 billion semiconductor joint venture with the metals-to-oil conglomerate earlier this week

CapFort Ventures launches Rs 200 cr fund, will back 40 tech start-ups

VC firm says it expects institutional investors, family offices, ultra high net worth individuals to support fund

Foxconn-Vedanta deal off: What went wrong & what next for India's semiconductor dream

Recently, the highly anticipated partnership between Vedanta and Foxconn to establish a $19.5 billion semiconductor manufacturing plant in Gujarat, India, came to an unexpected halt. >

Quadria Capital to invest up to $155 mn in Maxivision Eye Hospital

Maxivision offers eye care services to over five million patients in 42 centres across six states in southern and western India

Cost to cut sickle cell disease's risk beyond reach of most Indians: Lancet

The costs required to reduce the risk of sickle cell disease is beyond the reach of most individuals in India and sub-Saharan Africa, where the disease is most prevalent, says a new Commission published in The Lancet Haematology journal. The Commission publishes shortly after a recent study in the same journal found that the highest burden of sickle cell disease (SCD) disability was concentrated in western and central sub-Saharan Africa and India. The authors of the Commission also noted that there is a shortage of healthcare and scientific professionals with expertise in SCD, as well as a lack of trials aimed at developing novel treatments in these countries. SCD is a group of inherited red blood cell disorders that affect hemoglobin, the protein that carries oxygen through the body. The condition affects more than 20 million people worldwide. The recent study suggested there were 376,000 (3.76 lakh) global SCD-related deaths in 2021, compared to 34,400 cause-specific ...