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☆ India’s economy and elections: Is the hype around Narendra Modi’s vision justified?
▼ + stars: | 2024-04-16 | by ( Diksha Madhok | Rachel Wilson | ) edition.cnn.com time to read: +9 min

New Delhi/London CNN —In just a few days, India will commence the world’s largest democratic election. So, is the hype around Modi’s India, which remains a largely impoverished country, justified? The world’s largest biometric database has also helped the government save millions by reducing corruption in welfare initiatives. Domestic investors, both retail and institutional, have been driving India’s stock market to unprecedented peaks. Still, India’s economy, much like its democracy, is far from perfect.

Persons: Narendra Modi, Indranil Mukherjee, Modi, Himanshu Sharma, Guido Cozzi, Arun Sankar, Billionaire Elon Musk Organizations: London CNN —, Getty, CNN, World, University of St, Unified, Bank, ”, National Stock Exchange of India, bourse, Bombay Stock Exchange, NSE, Shenzhen Stock Exchange, Hong Kong Exchange, World Federation of Exchanges, Macquarie Capital, Apple, Foxconn, Billionaire, International Labour Organization Locations: New Delhi, London, India, China, Beijing, Ajmer, Rajasthan, University of St Gallen, Switzerland, Asia’s, Washington, Sriperumbudur, Chennai, Mumbai's Churchgate, AFP

☆ India’s gamified equities are a wake-up call
▼ + stars: | 2023-11-08 | by ( Pranav Kiran | ) www.reuters.com time to read: +4 min

The result is an acceleration of Indian savings away from gold and real estate into financial products. However, it is also leading to what Ashish Gupta, chief investment officer at Axis Bank’s mutual fund, dubs “the gamification of Indian equities”. A frenzy for index options has driven up volume in the derivatives market to the tune of $4.3 trillion a day. Retail traders made up a higher share of equity derivatives turnover than their institutional counterparts on the National Stock Exchange between 2017 and 2021. Whatever the fix, it’s a reminder that India’s digital leapfrog which other developing countries are urgently trying to replicate has a dark side too.

Persons: Francis Mascarenhas, Ashish Gupta, Gupta, weren’t, Ananth Narayan, SEBI, Nithin Kamath, Zerodha, Lalit Keshre, Una Galani, Thomas Shum Organizations: Bombay Stock Exchange, REUTERS, Rights, Reuters, National Stock Exchange, Tiger, Securities, Exchange Board of India, Thomson Locations: Mumbai, India, U.S

☆ Indian economy regains its swagger as China stumbles
▼ + stars: | 2023-11-03 | by ( Diksha Madhok | ) edition.cnn.com time to read: +9 min

New Delhi CNN —India’s economy is like an elephant. India’s economy is currently worth nearly $3.5 trillion, making it the world’s fifth largest. “India’s economy is comfortably placed to grow at an annual rate of at least 6% in the coming few years,” Barclays said. But even as India’s heft is increasing, it is far from recreating the economic miracle China unleashed decades ago. It will, no doubt — though it won’t be enough to shield the world economy should China’s economy stumble badly,” they added.

Persons: Narendra Modi, ”, Eswar Prasad, Modi, Prasad, Ludovic Marin, Mukesh Ambani’s, Gautam Adani’s, Willy Shih, Frederic Neumann, Justin Feng Organizations: New, New Delhi CNN, Economic, Cornell University, International Monetary Fund, China, Barclays, IMF, ” Barclays, Hindustan Times, Modi, bonanza, Unified, Bharat, Getty, Bank, Mukesh Ambani’s Reliance Industries, Apple, Harvard Business School, HSBC Locations: New Delhi, India, Switzerland, Davos, ”, ’, China, ” New Delhi, Sewri, Mumbai Bhushan, AFP, Beijing, Washington

☆ India reassures confidence in Aadhaar after Moody's questions its reliability
▼ + stars: | 2023-09-25 | by ( ) www.reuters.com time to read: +2 min

[1/2] A woman goes through the process of finger scanning for the Unique Identification (UID) database system, also known as Aadhaar, at a registration centre in New Delhi, India, January 17, 2018. REUTERS/Saumya Khandelwal Acquire Licensing RightsSept 25 (Reuters) - The Indian government on Monday reassured confidence in its digital identification system, Aadhaar, after a Moody's report last week highlighted concerns about it like establishing authorization and biometric reliability. India's ministry of electronics & IT said the Moody's report "does not cite either primary or secondary data or research in support of the opinions presented in it". The Aadhaar card, which is issued by the Unique Identification Authority of India (UIDAI), has a unique number tied to an individual's fingerprints, face and eye scan. Moody's in its report had said that Aadhaar's system often results in service denials, and questioned the reliability of biometric technologies, especially for manual laborers in hot, humid climates.

Persons: Saumya, Aadhaar, Akanksha, Maju Samuel Organizations: REUTERS, Indian, IT, of India, Gandhi, Rural, Thomson Locations: New Delhi, India, Bengaluru

☆ Opinion | Fareed Zakaria on Where Russia’s War in Ukraine Stands — and Much More
▼ + stars: | 2023-06-02 | by ( The Ezra Klein Show | ) www.nytimes.com time to read: +96 min

Obviously, the line is not perfect, but I think that’s a very sensible line. And I don’t think that’s all about absorption capability. But I don’t think it’s fair to say that the Russians have done everything they can. fareed zakaria[LAUGHS] And by the way, I think that’s some key to understanding the alliance is a personal one. I think India, Israel, and Poland — usually, in the 70 percent-plus say they like — have a favorable view of America.

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☆ India, soon world's most populous nation, doesn't know how many people it has
▼ + stars: | 2023-02-15 | by ( ) www.cnbc.com time to read: +4 min

Students come out after appearing in the Bihar Board class 10th examination at Bankipur Girl's High School on Feb. 14, 2023 in Patna, India. Santosh Kumar | Hindustan Times | Getty ImagesIn two months, India is projected to become the world's most populous country with over 1.4 billion people. "In the absence of latest census data, the estimations are based on data that is one decade old and is likely to provide estimates that are far from reality," Sharma said. The office of the Registrar General of India, which is responsible for the census, did not respond to a request for comment. Teachers' travailsThe United Nations has projected India's population could touch 1,425,775,850 on April 14, overtaking China on that day.

☆ India lets banks use face recognition, iris scan for some transactions - sources
▼ + stars: | 2023-01-13 | by ( Nikunj Ohri | ) www.reuters.com time to read: +2 min

NEW DELHI, Jan 13 (Reuters) - The Indian government is allowing banks to verify individual transactions that exceed a certain annual limit using facial recognition and an iris scan in some cases, in a bid to reduce fraud and tax evasion, three sources told Reuters. The prospect of banks using facial recognition has concerned some privacy experts. "This raises substantial privacy concerns especially when India lacks a dedicated law on privacy, cybersecurity and facial recognition," said Pavan Duggal, an advocate and cyber law expert. The government has said it is targeting parliamentary approval of a new privacy law by early 2023. The Aadhaar card has a unique number tied to an individual's fingerprints, face and eye scan.

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