[🇮🇳] India---News & Views

[Saif]

US issues rare criticism of India in religious freedom report

The United States offered rare criticism of close partner India in a report published Wednesday on religious freedom, while also voicing alarm over rising bigotry worldwide against both Jews and Muslims...

www.newagebd.net

US issues rare criticism of India in religious freedom report
Agence France-Presse . Washington 27 June, 2024, 23:45

The United States offered rare criticism of close partner India in a report published Wednesday on religious freedom, while also voicing alarm over rising bigotry worldwide against both Jews and Muslims.

Secretary of state Antony Blinken unveiled the annual report and said that the United States was also facing its own sharp increase of both anti-Semitism and Islamophobia in connection to the Gaza war.

'In India, we see a concerning increase in anti-conversion laws, hate speech, demolitions of homes and places of worship for members of minority faith communities,' Blinken said.

The US ambassador-at-large for international religious freedom, Rashad Hussain, faulted efforts by Indian police.

In India, 'Christian communities reported that local police aided mobs that disrupted worship services over accusations of conversion activities, or stood by while mobs attacked them and then arrested the victims on conversion charges,' he said.

The United States for decades has sought warmer ties with India, seeing the fellow democracy as a bulwark against China, with president Joe Biden embracing prime minister Narendra Modi, a Hindu nationalist who recently secured a third term.

Despite the public criticism in the report, few expect the State Department to take action on India when it drafts its annual blacklist of countries over religious freedom later this year.

The State Department also raised concerns about countries that are on the list, including India's historic rival Pakistan, where Blinken condemned blasphemy laws that 'help foster a climate of intolerance and hatred that can lead to vigilantism and mob violence.'

Blinken noted that in the United States, hate crimes against both Muslims and Jews 'have gone up dramatically.'

He also singled out EU member Hungary, led by nationalist Viktor Orban, saying that 'officials continue to use anti-Semitic tropes and anti-Muslim rhetoric and they penalize members of religious groups who criticise the government.'

He said that nine other European nations 'effectively ban some forms of religious clothing in public spaces.'

He did not name the countries, although France has been at the forefront on restricting full-face veils worn by some Muslim women.​

 

[Saif]

India economic inequality to persist despite roaring GDP growth

The Indian economy is likely to remain the fastest-growing major one in coming years, but a majority of independent economists and policy experts polled by Reuters are not confident it will make any difference in narrowing stark economic inequality. Despite over 8 per cent economic growth last fis

thefinancialexpress.com.bd

India economic inequality to persist despite roaring GDP growth
Published :
Jun 20, 2024 09:38
Updated :
Jun 20, 2024 09:54

A general view of the upcoming coastal road in Mumbai, India Photo : Reuters

The Indian economy is likely to remain the fastest-growing major one in coming years, but a majority of independent economists and policy experts polled by Reuters are not confident it will make any difference in narrowing stark economic inequality.

Despite over 8 per cent economic growth last fiscal year and a roaring stock market in Mumbai that is easily one of the world's most expensive, New Delhi still distributes free food grains to more than 800 million of its 1.4 billion people, as per Reuters reports.

Prime Minister Narendra Modi, sworn in for a third term with the support of regional parties after a shock election where his Bharatiya Janata Party lost its sizeable majority in parliament, has retained most ministers from his second one.

Yet rising economic inequality - around its highest in decades - and high youth unemployment were widely reported as reasons for the electoral drubbing after securing sweeping victories in 2014 and 2019 on development and economic reform platforms.

A nearly 85 per cent majority of development economists and policy experts, 43 out of 51, in a May 15-June 18 Reuters poll, said they were not confident economic inequality would significantly reduce over the next five years, including 21 who said they had no confidence at all.

Only six said they were confident and two said very confident. These are separate from private economists who regularly forecast economic data and interest rates.

"Acknowledging that it is a problem will be a good first step ... Currently, reduction of economic inequality is not a policy objective of decision-makers," said Reetika Khera, a development economist at the Indian Institute of Technology in New Delhi.

"Inequality is not something that will go away on its own ... it needs proactive government interventions."

Even for a developing economy, income inequality in India is too extreme, according to a March report from the World Inequality Lab.

However, not everyone agrees.

"I don't think the inequality metrics are meaningful for India. The key issue is not inequality but how the bottom of the pyramid fares economically. This is not a function of how the top does," said Nagpurnanand Prabhala, finance professor at Johns Hopkins University.

India has the second-highest number of billionaires in Asia but has tens of millions who depend on the government's 100 days minimum guaranteed wage employment programme, digging wells, building roads, and filling potholes for about $4 a day.

"The present government has created an economic system that shrunk the middle-income group considerably. The poor are on public dole ... the rich are on public cross-subsidy using crony capitalism," said Saibal Kar, professor of industrial economics at the Center for Studies in Social Sciences.

"The economic and social freedoms are low owing to repressive public policies. This has to change. Unless it changes, inequality will rise further."

SKILLS NEEDED, NOT JUST JOBS

Asked to rate the quality of India's economic growth over the past 10 years, a near-80 per cent majority of economists surveyed, 42 of 53, said it was not inclusive, with 17 saying not at all. Eight said fairly inclusive and three said inclusive.

And yet 60 per cent, 32 of 53, said India would maintain or exceed the current solid GDP growth rate over the next five years. The rest said it will fall short.

While the Modi government has set a target of turning India into a developed economy by 2047, several experts in the survey said the government should first improve workers' skills, create more jobs and focus on inclusive growth.

In December, the government's chief economic adviser said the subsidised grain distribution, as well as spending on education and health had helped to distribute income more equally.

During the election campaign, a government document showed Modi wanted to focus on 70 areas of improvement including workforce skills and vocational training.

Over 90 per cent of experts polled, 49 of 54, who answered a separate question said unemployment would be the biggest economic challenge for the government over the next five years.

The unemployment rate was at 7.0 per cent in May, according to the Center for Monitoring Indian Economy, a think-tank, up from around 6 per cent before the pandemic.

"Most countries that have experienced more rapid growth did it on the basis of a farm-to-factory structural transformation," said Parikshit Ghosh, professor at the Delhi School of Economics, adding manufacturing as a share of GDP has hovered around 15 per cent for about 30 years.

"Of the multiple factors behind this, perhaps the most important is the failure to invest seriously in education."

India spends around 3 per cent of GDP on public education, half the 6 per cent the government's National Policy on Education recommends.

Other experts pointed out the ongoing challenges presented by a society still mired in caste and class divisions.

"We don't even talk about the cleavage that has been ripping our society apart for thousands of years now in our living rooms - we still live in a world where Dalit families are cleaning toilets in urban and rural areas, generation after generation," said Aditi Bhowmick, a public policy expert, who previously worked as India Director at Development Data Lab.​

 

[Saif]

Modi to visit Russia for talks with Putin on July 8-9

Indian Prime Minister Narendra Modi will visit Russia on July 8 and 9, the Kremlin said yesterday, in his first trip to the country since Moscow launched its military offensive in Ukraine.

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Modi to visit Russia for talks with Putin on July 8-9

Indian Prime Minister Narendra Modi will visit Russia on July 8 and 9, the Kremlin said yesterday, in his first trip to the country since Moscow launched its military offensive in Ukraine.

That campaign has tested relations between Moscow and New Delhi, even though India has ramped up its purchases of Russian oil and not joined Western sanctions.

Modi and Russian President Vladimir Putin will discuss "prospects for further development of traditionally friendly Russian-Indian relations, as well as relevant issues on the international and regional agenda," the Kremlin said in a statement.

Putin sees Modi as a key potential diplomatic and economy ally, with Russia isolated in the West. But Ukraine has complicated ties.

In a September 2022 meeting between Putin and Modi at a regional summit in Uzbekistan, the Russian president told Modi he understood he had "concerns" about the conflict and that Modi wanted it to end "as soon as possible."

Earlier this year, India said it was pushing Russia to release some of its citizens who had signed up for "support jobs" with the Russian army, following reports some were stranded in Russian border towns and forced to fight in Ukraine.

New Delhi has not been a staunch backer of Kyiv, notably declining to sign a joint statement at a peace summit in Switzerland last month that called for Ukraine's territorial integrity to be respected in any peace agreement.​

 

[Saif]

India, China FMs agree to work on border issues

India’s Foreign Minister Subrahmanyam Jaishankar yesterday met his Chinese counterpart Wang Yi in Kazakhstan where the two agreed to step up talks to resolve issues along their border, New Delhi said in a statement.

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India, China FMs agree to work on border issues

India's Foreign Minister Subrahmanyam Jaishankar yesterday met his Chinese counterpart Wang Yi in Kazakhstan where the two agreed to step up talks to resolve issues along their border, New Delhi said in a statement.

India and China share a long Himalayan border, much of it poorly demarcated, and relations between the two countries have been sour since a military standoff in July 2020.

India said Jaishankar met Wang on the sidelines of the Shanghai Cooperation Organisation (SCO) summit in Astana where they agreed that "prolongation of the current situation in the border areas is not in the interest of either side."

The two agreed to enhance meetings between their diplomatic and military officials "to resolve the remaining issues at the earliest," the Indian foreign ministry said. China and India should properly handle their differences and ensure relations advance on a stable track, a Chinese foreign ministry statement quoted Wang as saying during the talks.

"We must maintain a positive mindset, properly handle and control the situation in the border areas on the one hand, and actively resume normal exchanges on the other hand," Wang said. Indian Prime Minister Narendra Modi said in April that the two countries should urgently address the "prolonged situation" on their border.​

 

[Saif]

India races to build power plants: sources

India plans to spend $1 billion to expedite the construction of 12 hydropower stations in the northeastern Himalayan state of Arunachal Pradesh, two government sources said, a move that could raise tensions with China that lays claims to the region.

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ARUNACHAL PRADESH
India races to build power plants: sources

India plans to spend $1 billion to expedite the construction of 12 hydropower stations in the northeastern Himalayan state of Arunachal Pradesh, two government sources said, a move that could raise tensions with China that lays claims to the region.

The federal finance ministry under Nirmala Sitharaman recently approved up to 7.5 billion rupees ($89.85 million) in financial assistance to each hydropower project in the northeastern region, the sources said.

Under the scheme, about 90 billion rupees will likely be allotted for the 12 hydropower projects in Arunachal Pradesh, said the sources, who have direct knowledge of the matter.

The move could raise tensions with China that lays claims to the region.

The scheme is likely to support northeastern states and help them finance equity holdings in the projects they host. Having state governments on board generally helps in expediting regulatory clearances, locals rehabilitation and negotiations on sharing electricity with the host state.

The plans for the hydropower stations are expected to be announced in the 2024/2025 federal budget that Prime Minister Narendra Modi's government will unveil on July 23, the sources said, declining to be named as the information remained confidential.

The Indian finance and power ministries and China's foreign ministry did not immediately respond to Reuters' requests for comment.

Last August, the government awarded contracts to state-run firms NHPC NHPC.NS, SJVNL SJVN.NS and NEEPCO for the construction of the 11.5-gigawatt-capacity plants entailing an estimated investment of $11 billion, as part of a broader project to develop infrastructure in the border region.

None of the companies responded to a request for comments. These power plants were earlier enlisted with private sector firms, but remained non-starters due to various reasons.

India has built less than 15-gigawatt hydropower plants in last 20 years, while installations of new coal and other renewable sources of energy were nearly 10 times of the new hydropower projects.​

 

[Bilal9]

 

[Bilal9]

Indian analysis on why India will need to prepare for war with hostile neighbors. I know this is largely speculative, but the thinking process needs to be understood to realize the method to the propaganda madness.



Preparing plan to invade Bangladesh...

 

[Saif]

Ratan Tata passes away

India’s top industrialist and Tata Sons Chairman Emeritus Ratan Tata died in a hospital in Mumbai last night, the company said.

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Ratan Tata passes away
Indian Padma Vibhushan industrialist Ratan Tata dies at 86

India's top industrialist and Tata Sons Chairman Emeritus Ratan Tata died in a hospital in Mumbai last night, the company said.

"It is with a profound sense of loss that we bid farewell to Mr Ratan Naval Tata, a truly uncommon leader whose immeasurable contributions have shaped not only the Tata Group but also the very fabric of our nation," said a press statement by Tata Sons Chairman N Chandrasekaran.

Ratan was admitted to Breach Candy Hospital for age-related ailments.

Indian Prime Minister Narendra Modi paid rich tributes to the industrialist, describing him as a visionary business leader, compassionate soul and an extraordinary human being.

"One of the most unique aspects of Shri Ratan Tata Ji was his passion towards dreaming big and giving back. He was at the forefront of championing causes like education, healthcare, sanitation, animal welfare to name a few," Modi said on X.

Ratan Tata, who ran the conglomerate for more than 20 years as chairman, had been undergoing intensive care in hospital.

He became chairman of the Tata Sons, the autos-to-steel conglomerate, in 1991 and ran the group founded by his great-grandfather more than a hundred years ago until 2012.

He founded telecommunications company Tata Teleservices in 1996 and made IT company Tata Consultancy Services public in 2004.

After stepping down, Ratan Tata was conferred with the title of chairman emeritus of Tata Sons, Tata Industries, Tata Motors, Tata Steel, and Tata Chemicals, the company website says.

On graduating with a degree in architecture at Cornell University, US, he returned to India and in 1962 began working for the group his great-grandfather.

He worked in several Tata companies, including Telco, now Tata Motors Ltd as well as Tata Steel Ltd and later made his mark by erasing losses and increasing market share at group unit National Radio And Electronics Company.

In 1991, Ratan Tata took charge of the conglomerate when his uncle JRD Tata stepped down with the change of guard coming at a time when India embarked on radical economic reforms opening up to the world.

The Tata group purchased British tea firm Tetley in 2000 for $432 million and Anglo-Dutch steelmaker Corus in 2007 for $13 billion, at the time the biggest takeover of a foreign firm by an Indian company.

Tata Motors then acquired British luxury auto brands Jaguar and Land Rover from Ford Motor Company in 2008 for $2.3 billion.

Ratan Tata's pet projects at Tata Motors included the Indica -- the first car model designed and built in India -- as well as Nano, once projected as the world's cheapest car. He contributed initial sketches for both models.

The Indica was a commercial success but the Nano, priced at just 1,00,000 rupees (about $1,200) and the culmination of Ratan Tata's dream to produce an affordable car for India's masses, was hurt by initial safety issues and bungled marketing. It was discontinued a decade after its launch.

A licensed pilot, Tata would occasionally fly the company plane.

Ratan Tata never married and was known for his quiet demeanour, relatively modest lifestyle, and philanthropic work.

About two-thirds of share capital of Tata Sons, the group's holding company, is held by philanthropic trusts.

Ratan Tata's leadership at Tata had its share of controversy when a bitter public feud broke out after the company ousted Cyrus Mistry, a scion of the billionaire Shapoorji Pallonji clan, as chairman of Tata Sons in 2016.

The Tata Group said Mistry had failed to turnaround poorly performing businesses while Mistry accused Ratan Tata, who was chairman emeritus of the conglomerate, of interfering and creating an alternate power centre at the group.

After he stepped back from the Tata Group, Ratan Tata became known as a prominent investor in Indian startups, backing several companies including digital payments firm Paytm and Ola Electric, a unit of cab ride hailing firm Ola, and home and beauty services provider Urban Company.

Ratan Tata was conferred the Padma Vibhushan award, India's second highest civilian honour, in 2008 for exceptional and distinguished service in trade and industry.​

 

[Saif]

The lasting legacy of Ratan Tata, the business icon

Ratan Tata, the revered chairman emeritus of Tata Sons and one of India’s most respected business magnates, passed away on Wednesday at the age of 86 in a Mumbai hospital.

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The lasting legacy of Ratan Tata, the business icon

Ratan Tata leaves a lasting legacy.

Ratan Tata, the revered chairman emeritus of Tata Sons and one of India's most respected business magnates, passed away on Wednesday at the age of 86 in a Mumbai hospital. Known for his humility and visionary leadership, Tata transformed his family's enterprise into a global conglomerate, profoundly influencing India's economy and industrial landscape. Known for his quiet demeanour and steadfast dedication to ethical business practices, he leaves legacy extends beyond the industrial achievements of Tata Group, earning the admiration of millions both in India and abroad.

A visionary leader with humble beginnings

Born in 1937 into the esteemed Tata family, Ratan Tata faced personal challenges early in life, with his parents' separation leading him to be raised by his grandmother. Despite the privileges that came with his family name, Tata's rise was marked by a deep-seated work ethic. Educated at Cornell University in architecture and structural engineering and later at Harvard Business School's Advanced Management Program, he declined a job at IBM to start at the grassroots level in the Tata Group.

In 1962, he joined Tata Motors—then known as Telco—where he began his career shoveling limestone alongside factory workers. This hands-on experience informed his leadership style, cultivating a deep understanding of Tata Group's diverse industries from the ground up. By 1971, he became director of National Radio and Electronics (NELCO), gradually climbing the ranks through hard work and a commitment to operational excellence.

Shaping Tata Group into a global powerhouse

When Ratan Tata assumed the role of chairman in 1991, he inherited a diverse conglomerate with interests ranging from steel to hotels. However, Tata was determined to propel the family business onto the global stage. He undertook a strategic overhaul, restructuring the group's various companies and implementing a new management style focused on innovation, globalization, and ethical practices. This transformation positioned Tata Group as a leader in multiple sectors.

Under Tata's leadership, the company's revenues soared, surpassing $100 billion by 2011. His focus on expansion saw Tata Group acquire renowned international brands, including Tetley Tea for $431.3 million in 2000 and Corus Steel for $11.3 billion in 2007. These bold moves brought Tata Group into markets worldwide, establishing its presence in over 100 countries. The return of Air India to the Tata fold in 2022, a company founded by his uncle J.R.D. Tata in 1932, underscored Ratan Tata's commitment to building on his family's legacy.

Tata Motors: a pioneer in Indian and global automotive markets

One of Ratan Tata's most notable achievements was his transformation of Tata Motors into a key player in the global automotive industry. He led the company's foray into passenger vehicles with the launch of the Tata Indica in 1998, India's first indigenously designed car. Later, in 2008, Tata introduced the Tata Nano, the world's most affordable car, aimed at making safe, personal transport accessible to India's middle and lower-income families. The Nano, while not commercially successful in the long run, highlighted Tata's commitment to addressing local needs through innovation.

In a strategic masterstroke, Tata Motors acquired the British luxury car brands Jaguar and Land Rover from Ford for $2.3 billion in 2008. The acquisition was initially met with skepticism, but it proved to be a remarkable success. Under Tata's stewardship, Jaguar Land Rover returned to profitability, boosting Tata Motors' international profile and solidifying its position in the luxury automotive market. Today, Jaguar Land Rover remains a vital asset for Tata Motors, contributing significantly to the company's revenues.

A relentless risk-taker and the embodiment of Indian industry

Throughout his tenure, Tata's willingness to take calculated risks distinguished him as an unconventional leader in Indian industry. From the acquisition of international brands to entering new sectors, Tata's decisions often pushed boundaries. His penchant for risks extended to diverse ventures, such as Tata Chemicals and Tata Communications, which facilitated the conglomerate's reach into various essential services globally. His business acumen extended across industries, enabling Tata Group to own stakes in everything from steel to software, making Tata a household name in India.

Tata Group's wide-ranging portfolio now includes Tata Steel, Tata Consultancy Services, Tata Power, and Taj Hotels, with a global reputation for quality and reliability. Ratan Tata's leadership not only grew Tata Group's business but also elevated India's profile as a competitive player in the global market.

A lifetime dedicated to philanthropy and social impact

Beyond business, Ratan Tata's legacy is deeply rooted in his commitment to social responsibility. His philanthropic arm, Tata Trusts, is one of India's largest charitable organizations, supporting projects in healthcare, education, and rural development. Notably, during the Covid-19 pandemic, Tata donated ₹500 crore to help mitigate the crisis, exemplifying his dedication to humanitarian causes. Tata Trusts have also funded numerous educational institutions, including the Indian Institute of Science and several Indian Institutes of Management, reinforcing Tata's belief in the power of education.

Ratan Tata's generosity extends beyond Indian borders; he donated $50 million to Harvard Business School for an executive education center. Moreover, his response to the 26/11 attacks in Mumbai, establishing the Taj Public Service Welfare Trust, provided vital support to victims and their families, underscoring his empathy and dedication to social welfare.

A revered figure with a lasting legacy

Ratan Tata's contributions have earned him numerous accolades, including the Padma Bhushan and Padma Vibhushan, two of India's highest civilian honors. Even after stepping down as chairman in 2012, he remains a beloved figure in India, admired not only for his business achievements but also for his humility and ethical approach. He has backed over 50 startups, including Paytm and Ola Electric, underscoring his continued influence on India's evolving economic landscape.​

 

[Saif]

Modi, Congress leaders pay tribute to Ratan Tata

Indian Prime Minister Narendra Modi tonight paid rich tributes to industrialist Ratan Tata, who passed away at a Mumbai hospital, describing him as a visionary business leader, compassionate soul, and an extraordinary human being

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Modi, Congress leaders pay tribute to Ratan Tata

File photo: Reuters

Indian Prime Minister Narendra Modi tonight paid rich tributes to industrialist Ratan Tata, who passed away at a Mumbai hospital, describing him as a visionary business leader, compassionate soul, and an extraordinary human being.

"One of the most unique aspects of Shri Ratan Tata Ji was his passion towards dreaming big and giving back. He was at the forefront of championing causes like education, healthcare, sanitation, animal welfare to name a few," Modi said on X.

Modi also highlighted that Tata provided stable leadership to one of India's oldest and most prestigious business houses, adding that his contribution went far beyond the boardroom.

The main opposition party, Congress, also condoled Ratan Tata's death. The Leader of Opposition in the Lok Sabha, Rahul Gandhi, described Tata as a man with a vision "who has left a lasting mark on both business and philanthropy."

Congress President Mallikarjun Kharge expressed deep sorrow, stating that in Tata's death, "we have lost an invaluable son of India."

"A philanthropist par excellence whose commitment to India's inclusive growth and development remained paramount, Shri Tata was synonymous with unequivocal integrity and ethical leadership," Kharge said on X.​