Page 87 - India

India's June heat wave deaths likely just a foretaste of what is to come

The World Bank has flagged India is likely to be one of the first places in the world where heat waves breach the human survivability threshold

Cooperation should not undermine regional peace: China on Indo-US deals

China on Monday said cooperation between countries should not undermine regional peace and stability and target any third party, as it reacted to a host of defence and commercial pacts recently signed between India and the US including joint production of jet engines in India to power military aircraft and a deal on armed drones. "It has been China's longstanding position that military cooperation between states should not undermine regional peace and stability, target any third party, or even harm the interests of any third party," Chinese Foreign Ministry spokesperson Mao Ning told media briefing here. She was responding to a question by a Russian state-run news agency seeking her reaction about a host of defence and commercial agreements during Prime Minister Narendra Modi's state visit to Washington last week. "We hope relevant countries will act in ways conducive to mutual trust between regional countries in the field of security and stability in the region," she said. General

Economic offences pose serious threat to country's financial health: Court

A Delhi court has denied bail to a man accused of cheating people by inducing them to invest money in different schemes promising exceptionally high returns, saying economic offences were "posing serious threat to the financial health of the country". Vacation Judge Pawan Kumar dismissed the bail application of Priyesh Kumar Sinha and said the allegations against him were "grave and serious in nature". The judge said there was "strong" apprehension that he may influence or hamper the trial. According to the prosecution, Sinha was one of the directors of Bluefox Motion Pictures Pvt. Ltd. and used to cheat people by persuading them to invest money in different schemes with the promise of exponential returns on their investment. More than 200 complainants have come forward so far, it said. "The accused being the director of the company cheated a large number of people who invested small amounts of money in different schemes to the tune of Rs 8 crore... The allegations and accusation .

RBI slaps penalties on Standard Chartered Bank-India, other entities

The Reserve Bank of India on Monday said it has imposed penalties on Standard Chartered Bank-India, TransUnion CIBIL, Equifax Credit Information Services, and other entities for contravention of various norms. A monetary penalty of Rs 30 lakh has been imposed on Standard Chartered Bank-India for non-compliance with certain provisions of the 'Reserve Bank of India (Know Your Customer (KYC)) Directions, 2016'. Also, a penalty of Rs 26 lakh has been imposed on TransUnion CIBIL Limited, Mumbai for non-compliance with certain provisions of the Credit Information Companies (Regulation) Act, 2005 [CIC (R) Act], according to releases. RBI has slapped a penalty of Rs 24.25 lakh on Equifax Credit Information Services, Mumbai for non-compliance with certain provisions of the CIC Rules. Among other entities, a fine of Rs 24.75 lakh has been imposed on Experian Credit Information Company of India, Mumbai for non-compliance with certain provisions of the CIC (R) Act. Further, a penalty of Rs 25

Obama should think about how many Muslim countries he attacked: Rajnath

Defence Minister Rajnath Singh on Monday slammed former US president Barack Obama's statement about minority rights in India, saying he should first think about how many Muslim-majority countries were attacked during his tenure. In an interview with CNN on Thursday, Obama reportedly said if India does not protect the rights of ethnic minorities, there is a strong possibility at some point that the country starts pulling apart. Interacting with mediapersons at a national security conclave here, Singh said Obama should know that the people of India believe in the concept of 'vasudhaiva kutumbakam' and consider all people as members of one global family. "He (Obama) should also think about how many Muslim countries he has attacked (as US president)," Singh told reporters when asked to react to Obama's remarks. Singh said India has a secular character as people of different religions, including Hindus, Muslims, and Christians live together harmoniously. "I want to tell you with confid

Ministry of Youth Affairs invites nominations for Tenzing Norgay Award

The Tenzing Norgay National Adventure Award is the highest adventure sports honour in India

US attaches enormous importance to relationship with India: Shringla

Harsh Vardhan Shingla, former foreign secretary and G20 chief coordinator, has said the message one gets from the US government on Prime Minister Narendra Modi's visit is that, it attaches "enormous importance" to the relationship. Shingla, also India's former ambassador to the US, also pointed out in an interview to PTI on Sunday night, that the strategic relationship between the two nations has deepened with India becoming a technological collaborator with joint manufacturing and joint research and development in state-of-the-art equipment. "From the US government side, the message that you get (on Modi's visit to Washington) is that they attach enormous importance to the relationship," Shingla told PTI, adding that the trip was "clearly the most significant" of the eight visits of the Prime Minister to the US. Shingla was Indian ambasador to Washington between January 2019-January 2020, when he took over as foreign secretary. During his tenure in the US, the 'Howdy Modi' event to

Lulu Group to invest Rs 10,000 cr in India to complete ongoing projects

UAE-based Lulu Group will be investing Rs 10,000 crore in India on various ongoing projects over the next three years and the UAE-based conglomerate has invested over Rs 20,000 crore in the country, Lulu Chairman Yusuff Ali MA said here on Monday. He also said his aim is to provide employment to 50,000 people in India and so far his various enterprises have given over 22,000 jobs. Yusuff Ali also said the Lulu Group has committed about Rs 3,500 crore in investments in Telangana in the next five years in various projects including a Destination Shopping Malls (Rs 3,000 crore) here and also in other cities in the state. "We have got an investment of more than Rs 20,000 crore in different areas including shopping malls, hotels, and food processing units (in India). We will increase this," he said. "We have started the construction of a shopping mall in Ahmedabad. And also another one in Chennai we are coming up. A food processing plant is coming up in Noida and another one in Telangan

Oilseed exports may grow by 10-15% this fiscal as traders get good orders

India's oilseed exports are expected to grow by 10-15 per cent during this fiscal as traders are getting good orders from regions like Southeast Asia, Latin America and Africa, according to exporters. In 2022-23, the oilseed exports rose by over 20 per cent to USD 1.33 billion (around Rs 10,900 crore). The main oilseeds exported by the country are groundnut, sesame, soyabean, castor, niger, and sunflower. Former Chairman Indian Oilseeds and Produce Export Promotion Council (IOPEPC) Khushwant Jain said the order books are good and "we expect healthy growth this year also". Soyabean and groundnut occupy 61 per cent and 23 per cent, respectively of the total kharif oilseeds area, he said adding the planting of sunflower stands at 19.7 per cent and sesame at 12.4 per cent. He said Madhya Pradesh alone has one-third (34.64 per cent) of the national oilseeds area followed by Maharashtra (22 per cent), Gujarat (13.53 per cent) Rajasthan (11.43 per cent), Karnataka (5.04 per cent), Andhra

PM Modi, India represent lynchpin in Prez Biden's strategy in Asia: Report

As he welcomed Modi to the White House earlier in the day, Biden sought to underscore the importance of shared values in the relationship moving forward

Top headlines: Monsoon on track, India to start FTA talks with SACU

Business Standard brings you the latest headlines at this hour

Rupee vs rupiah: In high-yield battle, Indian assets may beat Indonesia's

The highest bond yields among major Asian nations and a less volatile currency thanks to the central bank's intervention are burnishing the appeal of rupee assets

India in bilateral talks with Brazil to resolve sugar dispute at WTO

India is in negotiations with Brazil to resolve a sugar dispute at the World Trade Organisation (WTO) and the commerce ministry is coordinating with concerned departments for the same, government sources said. India is also following a similar process for other complainants of the sugar dispute at the Geneva-based WTO, they said. In 2019, Brazil, Australia and Guatemala dragged India into the WTO's dispute settlement mechanism alleging that New Delhi's sugar subsidies to farmers are inconsistent with global trade rules. The Department of Commerce is coordinating with all the concerned line ministries to arrive at possible alternatives, one of the sources, who is aware of the development, said. The exercise assumes significance as a WTO dispute settlement panel on December 14, 2021, ruled that India's support measures for the sugar sector are inconsistent with the global trade norms. In January 2022, India appealed against the panel's ruling at the WTO's appellate body, which is th

PM's US visit to bolster bilateral ties, strategic collaboration: India Inc

Prime Minister Narendra Modi's US visit will boost bilateral ties and deepen strategic technology collaboration in areas like defence, semiconductor, space and artificial intelligence, India Inc said on Saturday. PM Modi left for Egypt on Saturday after concluding his US state visit, during which he held talks with President Joe Biden and addressed the joint session of Congress. CII Director General Chandrajit Banerjee stated that the visit has culminated in laying a strong foundation for further strengthening the Indo-US relationship. "A new chapter has been added to the partnership that will see a much stronger collaboration in strategic technology collaboration, including defence, semiconductor, and space and in emerging technology sectors like AI and quantum, advanced materials, biotechnology, and telecommunications," Banerjee stated. He observed that the visit is also significant as we see new areas where industry on both sides would benefit significantly from the outcomes. "

PM Modi describes meeting Indian diaspora in US as 'sweet dish after meal'

He said people from India need no longer to go outside the US to renew H1B visas, which he said will majorly help IT professionals

India's history, teachings influenced and shaped world: Kamala Harris

India's history and teachings have influenced, and shaped the world, US Vice President Kamala Harris has said, asserting the country has inspired millions of people through its philosophy. She also lauded the extraordinary impact Indian-Americans have made in the US with a historic number of members of the United States Congress being of Indian heritage. She also said India is a very important part of her life and that she is deeply connected to the country. The history and teachings in India and of India have not only influenced me, they, of course, have shaped the entire globe, Harris said in her address at a luncheon hosted by her and Secretary of State Antony Blinken in the honour of Prime Minister Narendra Modi on Friday. Throughout history, India has inspired millions of people around the world, whether through philosophy and theology, the power of civil disobedience, or the commitment to democracy, the 58-year-old Democratic Party leader said. "As I look around this room, I

Amazon to invest an additional $15 bn in India over the next 7 years

This will take Amazon's total India investment across all businesses to $26 billion

Indo-US joint statement reduces Pak to promoter of terrorism: Imran Khan

Pakistan's former prime minister Imran Khan on Friday said that the joint statement issued by India and the US during the ongoing state visit of Prime Minister Narendra Modi to America has reduced the country to a "promoter of cross-border terrorism in India and nothing more". In their joint statement following one-on-one meetings and delegation-level talks on Thursday, Prime Minister Modi and US President Joe Biden called on Pakistan to punish perpetrators of the 26/11 Mumbai and Pathankot attacks. Later, Prime Minister Modi in his address to the Joint Meeting of the US Congress said there can be "no ifs or buts" in dealing with terrorism and sought action against state sponsors of terrorism, in a veiled attack on Pakistan. He said that more than two decades after 9/11 and more than a decade after 26/11 in Mumbai, radicalism and terrorism still remain a pressing danger for the whole world.

Pack of wolves whose prey is India's future: BJP on opposition unity

As more than a dozen opposition parties came together against the BJP on Friday, the ruling party called it a "multi-headed selfish alliance" and compared it with wolves hunting in packs. Addressing a press conference here soon after the opposition unity meeting in Bihar's Patna, BJP leader and Union Minister Smriti Irani said this coming together of the parties was not targeted at Prime Minister Narendra Modi but the country's coffers. "It is said that wolves hunt in packs! A political pack met in Patna. Their 'prey' is the future of India," Irani said. She said this alliance of selfishness was being forged with India as its target. "Whenever these political parties came together, they brought corruption, nepotism and brought with them the allegation of constricting the economic progress of the nation," she added. Irani said the Aam Aadmi Party's (AAP) blackmailing at the beginning itself shows the future of the unholy alliance. "It is ironic that Trinamool Congress Party member

India, UAE sign pact for AEOs for faster customs clearances, says CBIC

India and UAE on Friday signed Mutual Recognition Arrangement (MRA) for authorised economic operators (AEOs) of both countries, the CBIC said. The AEO programme enables Customs administration to identify safe and compliant exporters and importers and to provide them better facilitation. UnderA, Customs authorities recognise AEOs of both countries, which in turn helps expedite customs clearances. "In pursuance of greater trade facilitation & ease of doing business, India & UAE signed the Mutual Recognition Arrangement for Authorised Economic Operators of both countries today, on sidelines of the 141st/142nd sessions of WCO Customs Co-operation Council meeting, in Brussels," the Central Board of Indirect Taxes and Customs (CBIC) tweeted. Earlier in September 2021, India and the US had signed aA AEO. The Customs authorities of both countries have already evaluated each other's AEO programme and is working to quickly implement the reciprocal arrangement for authorised economic ...