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☆ How Modi can grab India’s geopolitical “moment”
▼ + stars: | 2023-04-03 | by ( Hugo Dixon | ) www.reuters.com time to read: +7 min

India is in a geopolitical sweet spot because of growing tension between the United States and China. The hard-nosed realpolitik view is that this doesn’t matter as India and the United States have a common threat. This matters for India’s economic future, as geopolitical considerations are increasingly driving global commerce. The United States is encouraging this process through what it calls “friendshoring”. Modi can do a lot to make the most of India’s geopolitical opportunity.

Vahia is one among India’s young and aspirational 1.4 billion population, whose propensity for online spending has attracted global companies and digital platforms. And as private consumption underpins economic growth in India, financial investors are targetting new ways to tap into it. India's per capita consumption of food was at $314 in 2020 compared to $884 for China, while that of clothing stood at $53.9 versus $212.9 for China, data from CLSA showed. FOREIGN INVESTORS JUMP INWith private consumption accounting for 60% of India's $3.5 trillion GDP, foreign portfolio investors have been quick to latch on. To be sure, it has not been all smooth sailing for investors as they chased India's consumption boom.

☆ Asia's 'best restaurants' list is out — and it's no surprise which country made the list 17 times
▼ + stars: | 2023-03-29 | by ( Goh Chiew Tong | ) www.cnbc.com time to read: +10 min

William Drew, director of content for Asia's 50 Best Restaurants, said Japan's strong performance is "no surprise." The top 50 restaurants in AsiaThis year commemorates the 10th anniversary of the "Asia's 50 Best Restaurants" list. Asia's top 50 restaurantsThe list of "Asia's 50 Best Restaurants" for 2023 are: 1. Ten restaurants that ranked among Asia's best 50 restaurants last year fell into the 51-100 ranking this year. Asia's 50 Best Restaurants 2023Labyrinth also rose 29 spots to No.11, winning the "Highest Climber" award.

HISTORY OF DEFAMATION AS A CRIMINAL OFFENCESection 499 of the Indian Penal Code enacted by British colonial rulers in 1860 made defamation a criminal offence and Section 500 set out punishment. Anyone found guilty of criminal defamation can be jailed but a civil offence means they can only be made to pay damages. The criminal law has been invoked in cases filed against journalists, politicians and industry leaders but convictions have been rare. "Criminal defamation laws have an inhibitory and silencing effect, even before a conviction,” it said. However, Supreme Court advocate Raju Ramachandran said the section on criminal defamation "is carefully and elaborately worded" and should stay.

☆ America Shrugs, and the World Makes Plans
▼ + stars: | 2023-03-27 | by ( Walter Russell Mead | ) www.wsj.com time to read: +1 min

War in Europe, tensions rising in the Indo-Pacific, Russia and China deepening ties with Iran: The international political situation continues to darken. In Europe, the North Atlantic Treaty Organization’s commitment to Ukraine remains steadfast as Kyiv looks toward a spring offensive. American allies continue to rally in Asia. India and Australia committed to negotiating a comprehensive economic agreement even as Sydney, Washington and London agreed on the next steps in the Aukus defense partnership. As Mr. Akita sees it, America’s unquestioned supremacy after the Cold War established a global economic and security system that worked very well for key American allies like Germany and Japan.

☆ India summons Canada High Commissioner, concerned over Sikh protesters
▼ + stars: | 2023-03-26 | by ( ) www.reuters.com time to read: +2 min

MUMBAI, March 26 (Reuters) - India summoned Canada's High Commissioner on Sunday to "convey strong concern" over Sikh protesters in Canada and how they were allowed to breach the security of India's diplomatic mission and consulates. According to Canadian media reports, hundreds of protesters gathered in front of the Indian consulate in Vancouver on Saturday over demands for an independent Sikh state, a simmering issue for decades recently triggered again. Canada has the highest population of Sikhs outside their home state of Punjab in India. Khalistan is the name of an independent Sikh homeland that some members of that community aspire to, both at home in India and in countries where Sikhs have settled. Reporting by M. Sriram, editing by YP Rajesh and Michael PerryOur Standards: The Thomson Reuters Trust Principles.

☆ India's travel industry may not overtake China soon but there are still 'massive' opportunities
▼ + stars: | 2023-03-24 | by ( Charmaine Jacob | ) www.cnbc.com time to read: +5 min

Nurphoto | Nurphoto | Getty ImagesIndia's airline industry may be on a strong growth trajectory — but don't expect India's outbound travel to overtake China's soon, aviation analysts say. "The gap between China and India is huge," Lalitya Dhavala, valuations consultant at travel analytics firm Cirium told CNBC. India's robust growth trajectoryThe analysts agree there's potential for growth in India's domestic and international travel market. In comparison to China, India has a larger share of young adults, with 40% of its population under 25 years old, Dhavala said. Late last year, Indian conglomerate Tata Group announced that Vistara will merge with national carrier Air India by March 2024.

☆ California lawmaker introduces bill to ban caste discrimination in state
▼ + stars: | 2023-03-22 | by ( Kanishka Singh | ) www.reuters.com time to read: +2 min

WASHINGTON, March 22 (Reuters) - A bill to ban caste discrimination was introduced in the California Senate on Wednesday by a Democratic lawmaker, which, if passed, could make California the first U.S. state to outlaw the practice, a problem for the state's substantial South Asian diaspora. The Dalit community is on the lowest rung of the Hindu caste system; members have been treated as "untouchables." India outlawed caste discrimination over 70 years ago, yet several studies in recent years show that bias persists. Activists opposing caste discrimination say it is no different from other forms of discrimination like racism and hence should be outlawed. U.S. discrimination laws ban ancestry discrimination but do not explicitly ban casteism.

☆ US report lists 'significant human rights' abuses in India
▼ + stars: | 2023-03-20 | by ( Kanishka Singh | ) www.reuters.com time to read: +3 min

WASHINGTON, March 20 (Reuters) - The annual U.S. report on human rights practices released on Monday listed "significant human rights issues" and abuses in India, including reported targeting of religious minorities, dissidents and journalists, the U.S. State Department said. Advocacy groups have raised concerns over what they see as a deteriorating human rights situation in India in recent years under the Hindu nationalist Bharatiya Janata Party of Prime Minister Narendra Modi. Human Rights Watch has said the Indian government's policies and actions target Muslims while critics of Modi say his Hindu nationalist ruling party has fostered religious polarization since coming to power in 2014. "Human rights activists reported the government was allegedly targeting vocal critics from the Muslim community and using the bulldozers to destroy their homes and livelihoods" without due process, the U.S. report released on Monday added. "Civil society organizations expressed concern that the central government sometimes used UAPA (Unlawful Activities Prevention Act) to detain human rights activists and journalists," the U.S. report said.

☆ SVB Crisis Tests India’s New Finance Hub Potential
▼ + stars: | 2023-03-17 | by ( Megha Mandavia | ) www.wsj.com time to read: +1 min

Many Indian startups rushed this week to open new bank accounts in India’s Gujarat International Finance Tec-City, known as GIFT city. The swift collapse of Silicon Valley Bank has cast an aspiring Indian finance center into sudden relief. India, which has long been a bit player in global finance, has a chance to boost its role—but only if it moves swiftly to rectify some regulatory barriers. This week, many Indian startups rushed to open new bank accounts in India’s Gujarat International Finance Tec-City, known as GIFT city, once they regained access to their SVB deposits. Accounts set up within the hub’s International Financial Services Center, or IFSC, are free of India’s stringent capital controls since the funds are held in U.S. dollars.

☆ JPMorgan turns cautious on Amazon, TikTok faces ban — our Club takes on the news
▼ + stars: | 2023-03-16 | by ( Paulina Likos | ) www.cnbc.com time to read: +5 min

Club holdings Meta Platforms (META) and Amazon (AMZN) are in the news Tuesday. TikTok has seen robust growth since it launched in 2016, competing with Reels at Meta Platforms (META) and Alphabet 's (GOOGL) YouTube Shorts. JPMorgan cautious on Amazon AMZN 1Y mountain Amazon's performance over the last 12 months. The news: JPMorgan said investor sentiment on Amazon (AMZN) stock is near multi-year lows, in a research note Thursday. JPMorgan kept an overweight rating on AMZN stock, but lowered its price target to $135 from $142.

[1/2] Los Angeles Mayor Eric Garcetti stands near a Los Angeles' flag during the opening ceremony of the “Wings of Los Angeles”, a bronze sculpture presented by Mexico's government at Griffith Park, in Los Angeles, U.S., June 6, 2022. REUTERS/Daniel BecerrilWASHINGTON, March 15 (Reuters) - The U.S. Senate confirmed President Joe Biden's nominee Eric Garcetti as ambassador to India on Wednesday, ending a nearly two-year nomination fight over allegations the former Los Angeles mayor mishandled workplace harassment complaints. Senators backed Garcetti by 52-42, as seven Republicans joined the majority of Democrats in supporting Garcetti and three Democrats joined most Republicans in voting no. "The United States-India relationship is extremely important and it's a very good thing we now have an ambassador," said Senate Majority Leader Chuck Schumer, who led a congressional delegation to India last month. Los Angeles mayor from 2013 until a term limit pushed him from office last year, Garcetti is close to Biden and co-chaired his 2020 presidential campaign.

One of the government officials directly involved in the matter said New Delhi is "not comfortable" with foreign trade settled in yuan but said settlement in "dirham is okay." The second official said that India cannot allow settlement in yuan till the relations between the two countries improve. The five officials did not say whether there were also economic reasons behind India's reluctance to accept yuan settlement. Two banking officials, aware of the matter, said the Reserve Bank of India (RBI) is not keen on foreign trade settlement in yuan, and confirmed that the government has discouraged them from using the currency. They also said Russia was keen on yuan settlement as it helps them in purchases of goods from China.

☆ India's rural women are 'bearing the brunt' of climate shocks
▼ + stars: | 2023-03-10 | by ( Sumathi Bala | ) www.cnbc.com time to read: +7 min

India's rural women are bearing the brunt of climate related shocks like severe drought and extreme weather events, Universal Images Group | Getty ImagesIndia's rural women are bearing the brunt of climate related shocks like severe drought and extreme weather events, which are drastically affecting their daily livelihoods. The climate fund will allow women and communities to fight climate change and help provide new livelihood resources and education, said Clinton. Having access to clean water makes a huge difference in tackling the overall health issues for rural women, she added. In the latest economic survey released in February, the government said rural women were increasingly participating in economic activity. Government schemes and policies have helped rural women, said Akanksha Khullar, a visiting fellow with the Observer Research Foundation in New Delhi.

☆ Toronto school board becomes first in Canada to recognize caste discrimination
▼ + stars: | 2023-03-09 | by ( Kanishka Singh | ) www.reuters.com time to read: +2 min

March 9 (Reuters) - Toronto's school board has become the first in Canada to recognize that caste discrimination exists in the city's schools and has asked a provincial human rights body to help in creating a framework to address the issue. The Toronto District School Board on Wednesday voted in favor of a motion to that effect, which was introduced by board trustee Yalini Rajakulasingam. It comes weeks after Seattle became the first U.S. city to outlaw caste discrimination after a city council vote. Rajakulasingam called for a partnership between the human rights commission of Ontario, Canada's most populous province, and Toronto's school board. Activists opposing caste discrimination say it is no different from other forms of discrimination like racism and hence should be outlawed.

☆ INDIA RUPEE Rupee resumes uptrend on likely dollar inflows, Fed risks linger
▼ + stars: | 2023-03-09 | by ( Nimesh Vora | ) www.reuters.com time to read: +2 min

MUMBAI, March 9 (Reuters) - The Indian rupee rose against the U.S. currency on Thursday, supported by dollar inflows and the underlying positive momentum, traders said. The rupee was at 81.8575 to the U.S. dollar by 10:22 a.m. IST compared with 82.0550 in the previous session. The rupee has not been impacted by the change in the repricing of what the Federal Reserve is likely to do at this month's meeting. The local currency is marginally higher than what it was before Fed Chair Jerome Powell's hawkish comments. Dollar inflows are helping negotiate the renewed Fed concerns, they added.

☆ Exclusive: India may issue alert on Marion cough syrup exports after toxins found
▼ + stars: | 2023-03-04 | by ( Krishna N. Das | ) www.reuters.com time to read: +3 min

[1/2] Logo of Marion Biotech, a healthcare and pharmaceutical company is seen on a gate outside their office in Noida, India, December 29, 2022. REUTERS/Anushree FadnavisNEW DELHI, March 4 (Reuters) - India may issue an alert on cough syrup exported by Marion Biotech, whose products have been linked to deaths in Uzbekistan, after tests showed many of the company's drug samples contained toxins, a drug inspector said on Saturday. "The health ministry could issue an alert. Babbar has been part of a team that inspected Marion's plant four times after Uzbekistan said in December the children died after consuming the company's cough syrups. India in October suspended production at Maiden for violating manufacturing standards after the WHO said four of its cough syrups may have killed dozens of children in Gambia.

Two Marion directors were "out of the country and will be arrested as soon as they land in India," senior police official Ram Badan Singh told Reuters. Uzbekistan in December said the children died after consuming Marion's cough syrups. The same toxin was found in cough syrups exported to Gambia by another Indian company, Maiden Pharmaceuticals. India in October suspended production at Maiden for violations of manufacturing standards after the World Health Organization said four of its cough syrups may have killed dozens of children in Gambia. The deaths in Gambia and Uzbekistan have dented the image of the $41 billion pharmaceutical industry in India, which is known as the "pharmacy of the world."

U.S. corn export sales for 2022-23, which ends on Aug. 31, totaled 29.2 million tonnes (1.15 billion bushels) through Feb. 23. Through Feb. 23, China had booked about six U.S. corn cargoes since late January for delivery in the current marketing year. Since July, Brazil has shipped over 45 million tonnes of corn, well above the prior record of 36.4 million set three years ago. Preliminarily, Brazil shipped 2.3 million tonnes of corn last month, down sharply from January’s 6.2 million and the lowest monthly volume since June. USDA’s latest predictions show Japan’s 2022-23 corn imports flat on the year around 15 million tonnes, which suggests Japanese buyers still have substantial corn needs to cover.

☆ China urges global lenders' involvement in developing nations' debt
▼ + stars: | 2023-03-02 | by ( ) www.reuters.com time to read: +2 min

[1/3] Chinese Foreign Minister Qin Gang and India's Foreign Minister Subrahmanyam Jaishankar shake hands before the start of G20 foreign ministers' meeting in New Delhi, India, March 2, 2023. India's Ministry of External Affairs/Handout via REUTERSNEW DELHI, March 2 (Reuters) - Chinese Foreign Minister Qin Gang called on global financial institutions on Thursday to play an active role in restructuring the debt of developing countries. "China has put forth relevant initiatives under the G20," Qin said. "China has suspended more debt service payments than any other G20 member, and participated in the debt treatment under the Common Framework." Last week, China urged G20 nations to conduct a fair, objective and in-depth analysis of the causes of global debt issues and to "resolve the problem in a comprehensive and effective manner".

☆ India Moves Closer to Approving Purchase of Armed Drones From the U.S.
▼ + stars: | 2023-03-01 | by ( Rajesh Roy | ) www.wsj.com time to read: 1 min

General Atomics’s MQ-9B Sea Guardian Drone. India wants to boost its border surveillance by purchasing advanced MQ-9B drones from the U.S.NEW DELHI—India is close to approving a deal to buy high-altitude armed drones from the U.S. as it seeks to counter a more-assertive Chinese stance on the countries’ contested Himalayan border, people with knowledge of the matter said. The purchase of the advanced MQ-9B drones—equipped with anti-submarine warfare capabilities as well as land-attack and anti-ship missiles—would also boost the Indian navy’s surveillance efforts in the Indian Ocean, where China’s naval presence has grown. The decision-making process around the acquisition is gathering momentum in New Delhi, and it could be approved in the next few weeks, according to the people.

☆ India, world’s largest democracy, leads global list of internet shutdowns
▼ + stars: | 2023-03-01 | by ( Rhea Mogul | ) edition.cnn.com time to read: +6 min

Of 187 internet shutdowns recorded worldwide, 84 took place in India, according to the report published Tuesday by Access Now, a New York based advocacy group that tracks internet freedom. India has the world’s second largest digital population, following China, with more than 800 million internet users. Pradeep Guar/Mint/Getty ImagesIn recent years, the government has repeatedly justified blocking internet access on the grounds of preserving public safety amid widespread fears of mob violence. Rest of the worldLast year saw more internet shutdowns worldwide than ever before, Access Now said, prompting the group to raise fears of “digital authoritarianism” as governments continue the trend. Apart from India, other countries that saw internet shutdowns last year include Ukraine, Iran and Myanmar.

☆ A shadow fleet is helping Russia ship oil around the world. And it's growing
▼ + stars: | 2023-03-01 | by ( Julia Horowitz | ) edition.cnn.com time to read: +8 min

London CNN —Russian oil is still finding its way to buyers around the world. Industry insiders estimate the size of that “shadow” fleet at roughly 600 vessels, or about 10% of the global number of large tankers. Andrey Rudakov/Bloomberg/Getty ImagesThe expansion of the shadow fleet highlights the dramatic changes Russia’s war has brought to the global oil market. As a result, an estimated 25 to 35 vessels are being sold per month into the shadow fleet, according to another senior executive at an oil trading firm. There are also questions about who ultimately runs the shadow fleet.

☆ European Parliament to ban TikTok from staff phones, EU official says
▼ + stars: | 2023-02-28 | by ( Foo Yun Chee | ) www.reuters.com time to read: +1 min

BRUSSELS, Feb 28 (Reuters) - The European Parliament has decided to ban Chinese short video-sharing app TikTok from staff phones for security reasons, an EU official said on Tuesday, the latest EU institution to do so. The ban will also apply to private devices with Parliament email and other network access installed on them, the official said, adding that the decision is expected to be announced soon. The European Commission and the EU Council last week banned TikTok from staff phones, underlining growing concerns about the company owned by Chinese firm ByteDance and whether China's government could use its app to harvest users' data or advance its interests. TikTok is banned on U.S. Senate employees' government-owned devices, with Canada adopting a similar decision on Monday. India has banned the app too.

☆ Australia has not received advice to ban TikTok from govt devices -Treasurer
▼ + stars: | 2023-02-28 | by ( ) www.reuters.com time to read: +1 min

SYDNEY, March 1 (Reuters) - Australia has not received advice from its security agencies to follow the example of the United States, the European Parliament and Canada to ban Chinese video-sharing app TikTok from government devices, Treasurer Jim Chalmers said on Wednesday. Canada banned TikTok from government-issued devices on Monday and the following day the European Parliament banned the app from staff phones citing concerns over who could access user data. The White House on Monday gave government agencies 30 days to ensure they do not have TikTok on federal devices. That hasn't been the advice to date," Chalmers told ABC television, when asked if the government would consider a government-wide ban on TikTok. India banned TikTok in 2020.

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