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☆ A growing club led by Xi and Putin to counter the US is adding a staunchly pro-Russia member
▼ + stars: | 2024-07-02 | by ( Nectar Gan | ) edition.cnn.com time to read: +8 min

After adding Belarus, it will boast 10 members, representing more than 40% of the world’s population and roughly a quarter of the global economy. Growing ambitionsAs the SCO grows in international visibility and economic weight, it has also broadened in geopolitical ambitions. Putin speaks to Xi at the SCO summit two years ago in Samarkand, Uzbekistan. But the Belarus membership also creates big question marks that will hang over the organization, Gill said. After the summit in Astana, China is due to take up the rotating presidency of the SCO for a year.

Persons: Xi Jinping, Vladimir Putin, Narendra Modi, Moscow’s, ”, “, Eva Seiwert, Seiwert, Putin, Xi, Sergei Bobylev, Bates Gill, Gill, –, ” Gill, Modi, they’re Organizations: Hong Kong CNN —, Shanghai Cooperation Organization, Indian, SCO, Union, Mercator Institute for China Studies, ”, Putin, AP, National Bureau of Asian Research, “, Central, Modi, Astana –, Kremlin, Central Asia, NATO, European Union, Seven Locations: Hong Kong, China, Russia, Russian, Ukraine, Belarus, Astana, Kazakhstan, Beijing, Moscow, United States, Iran, Kyrgyzstan, Tajikistan, Uzbekistan, India, Pakistan, Afghanistan, Mongolia, Myanmar, Turkey, Berlin, “, Eurasia, Samarkand, Central Asia, New Delhi, Soviet, Xi’an

New Delhi CNN —A crowd crush at a religious gathering in northern India killed more than a hundred people Tuesday, mostly women, in one of the deadliest such incidents the country has seen in recent years. Almost all those killed were women, Singh said earlier, with at least seven children also among the dead. An estimated 80,000 people had been expected to attend the event, where Bhole Baba was giving a sermon. Permission was sought for the event with 80,000 attendees, however a crowd of more than 250,000 devotees gathered, the report said. People there pulled them out,” Shakuntala Devi told the Press Trust of India news agency, according to the Associated Press.

Persons: Bhole Baba, godman, Sandeep Singh, Singh, ” Singh, Anupam Kulshreshtha, Bhole, ”, Shakuntala Devi, General Shalabh Mathur, Narendra Modi, Modi, “ Organizations: New, New Delhi CNN, Police, State for Education, Local, CNN, “, Press Trust of India, Associated Press, Reuters Locations: New Delhi, India, Garhi, Uttar Pradesh, Hathras district, Agra, Ambala, Etah district, Jammu, Maharashtra

☆ Gautam Adani wants to transform India’s biggest slum
▼ + stars: | 2024-06-29 | by ( Jessie Yeung | Noemi Cassanelli | ) edition.cnn.com time to read: +18 min

Noemi Cassanelli/CNNA man works at Shaikh’s workshop in Dharavi slum on April 14. “All slum redevelopment is quite fraught,” Kamath said. Noemi Cassanelli/CNNWomen chatting in Dharavi on April 14 Noemi Cassanelli/CNNA woman carrying fabric walks along a narrow alley in Dharavi on April 14. He is India’s largest airport operator and owns India’s biggest private port operator and private thermal power operator. The state and Adani deny any wrongdoing, but that hasn’t stopped many residents from viewing Adani and his government ties with suspicion.

Persons: Noemi Cassanelli, Masoom Ali Shaikh, ”, “, Gautam Adani, Jeff Bezos, ” Adani, ” Shaikh, ” Lofty, Dharavi, they’re, Lalitha Kamath, ” Kamath, aren’t, Dilip Gabekar, Narendra Modi, Adani, ’, Gabekar, Shaikh, They’re, Baburao Mane, Mane, CNN Neeta Jadhav, Neeta Jadhav, Jadhav, Dhanshuk Purshottamwala, He’s, Kamath, Prasant, hasn’t, Modi, ferociously, Reshma Prasant Organizations: CNN, India CNN, Adani, Tata Institute of Social Sciences, Reuters, Adani Enterprises, Bharatiya Janata Party, Private, Manohar Joshi, NDTV Locations: Mumbai, India, CNN Mumbai, Dharavi, Uttar Pradesh, Gujarat, Tamil Nadu, “, Adani, Maharashtra, It’s, India’s

The debate between Donald J. Trump and President Biden had analysts in Asia fretting. During Thursday night’s debate, President Biden told former President Donald J. Trump that the United States is the “envy of the world.”After watching their performance, many of America’s friends might beg to differ. In Europe and Asia, the back-and-forth between the blustering Mr. Trump and the faltering Mr. Biden set analysts fretting — and not just about who might win the election in November. Image Mr. Biden leaving the debate stage. Kasit Piromya, Thailand’s foreign minister from 2008 to 2011 and a former ambassador to the United States, lamented the state of American politics.

Persons: Donald J, Trump, Biden, ”, fretting —, ” Simon Canning, ” Sergey Radchenko, Vladimir Putin, Xi Jinping, “, Putin, “ I’ve, Mr, Kenny Holston, François Heisbourg, Trump’s, “ I’m, Heisbourg, Radoslaw Sikorski, Marcus Aurelius, Commodus, Sikorski, Joe Biden’s, Donald Trump, Joe Biden, Daniela Schwarzer, Bogdan Butkevych, “ Trump, Chan Heng Chee, Ms, Chan, Lee Byong, ’ ”, Koichi Nakano, Haiyun Jiang, Narendra Modi, Tara Kartha, —, Shen Dingli, don’t, Kasit, Damien Cave, Lee Wee, Choe Sang, Vivian Wang, Camille Elemia, Mujib Mashal, Ségolène Le Stradic, Marc Santora Organizations: Johns Hopkins School, International Studies, —, Mr, Russia, New York Times, Trump, Bertelsmann Foundation, Washington , D.C, Credit, Kremlin, Kyiv Independent, Biden unnerves, Institute for Far Eastern, Kyungnam University, Sophia University, The New York Times, Washington, National Security Council of, ”, Weibo Locations: Asia, Australian, United States, Europe, Australia, Washington, Russia, China, North Korea, Ukraine, Lebanon, Iran, Israel, Japan, South Korea, Gaza, Jerusalem, France, Washington ,, American, Ukrainian, North, Seoul, “, United, Tokyo, The New York Times India, National Security Council of India, New Delhi, Beijing, India, Communist, Shanghai, U.S, Southeast Asia

☆ Modi's government calls on Indian state to look into report on Foxconn hiring
▼ + stars: | 2024-06-27 | by ( ) www.cnbc.com time to read: +1 min

Indian Prime Minister Narendra Modi's government on Wednesday said it has asked the Tamil Nadu state to submit a "detailed report" after a Reuters story revealed that Apple supplier Foxconn rejected married women from iPhone assembly jobs in the country. Indian Prime Minister Narendra Modi's government on Wednesday said it has asked the Tamil Nadu state to submit a "detailed report" after a Reuters story revealed that Apple supplier Foxconn rejected married women from iPhone assembly jobs in the country. The ministry said it has requested a detailed report from the Labor Department of Tamil Nadu, site of a major iPhone factory where Reuters uncovered Foxconn's practice of shunning married women from jobs. The Labor Ministry said it also directed the office of the Regional Chief Labor Commissioner to provide a "factual report." The Tamil Nadu state government did not immediately respond to Reuters' request for comment outside office hours.

Persons: Narendra Modi's, Foxconn Organizations: Indian, Apple, government's Ministry of Labor, Labor Department of Tamil, Reuters, Labor Ministry, Regional Chief Labor Locations: Tamil, Labor Department of Tamil Nadu, India, Chennai, Tamil Nadu

☆ CNBC's Inside India newsletter: The humble onion could be holding India's economy hostage
▼ + stars: | 2024-06-27 | by ( Ganesh Rao | ) www.cnbc.com time to read: +4 min

A seller is arranging onions at a vegetable market in Nagaon district, in the northeastern state of Assam, India, on February 1, 2024. This report is from this week's CNBC's "Inside India" newsletter which brings you timely, insightful news and market commentary on the emerging powerhouse and the big businesses behind its meteoric rise. Food prices, which rose an annual 8.7% in both April and May, account for nearly half of the overall consumer price basket. "The Indian economy remains hostage to intersecting food price shocks," Michael Patra, deputy governor of the Reserve Bank of India, said in his statement at the latest monetary policy meeting. "Food prices are holding back any consideration of possible changes in the monetary policy stance," he added.

Persons: Michael Patra, Jayanth Varma, bode, Sanjeev Chopra, Narendra Modi, abate, James Thom Organizations: CNBC, Reserve Bank of India, New, New India Investment Trust Locations: Nagaon district, Assam, India, New India, London

☆ India’s Modi to visit Moscow soon, Russian state media says
▼ + stars: | 2024-06-26 | by ( Rhea Mogul | ) edition.cnn.com time to read: +2 min

Preparations are being made for Modi’s visit to Moscow and dates will be announced soon, Kremlin spokesperson Yuri Ushakov said, according to Russia’s state-owned TASS news agency. “I can confirm that we are preparing a visit by the Prime Minister of India,” he said, according to TASS. India’s ties with Russia date back decades to the Cold War and have remained strong despite repeated sanctions on Moscow from Western governments. At the same time, India’s ties with the United States have grown stronger, amid shared concerns over China’s assertiveness in the Indo-Pacific region. Modi met with US President Joe Biden during a state visit to Washington last June, in a trip further cementing their defense, trade and technology partnership.

Persons: Narendra Modi, Yuri Ushakov, ”, India’s, Modi, Vladimir Putin, Putin, China –, China’s, Joe Biden Organizations: CNN, Indian, TASS, Affairs, Shanghai Cooperation Organization, Russia, United Nations, Kremlin, SCO Locations: Russia, Ukraine, Washington, Moscow, India, Russian, Uzbekistan, New Delhi, Western, China, United States, ’, Japan, Australia

☆ This stock is 'one of the cheapest ways' to play India's infrastructure boom, fund manager says
▼ + stars: | 2024-06-25 | by ( Weizhen Tan | ) www.cnbc.com time to read: +2 min

Causeway Capital Management's Arjun Jayaraman is bullish on one pure-play infrastructure stock: REC , a company which issues loans to power utilities and to other infrastructure. "It is one of the cheapest ways to play infrastructure," the portfolio manager told CNBC Pro Talks last week. Jayaraman manages Causeway's Emerging Markets Fund and International Opportunities Fund . Though he called the Indian market a "very strong growth story," he said he would focus on its small- to mid-cap segment. "Since India is a strong secular growth market, we would say the mid and small-cap [market] is the place to be.

Persons: Arjun Jayaraman, Jayaraman, Narendra Modi Organizations: Investments, CNBC, International, REC, Markets Fund, Fund Locations: India, bullish

☆ India wants to be a developed nation by 2047. Here are 4 critical areas Modi can't ignore
▼ + stars: | 2024-06-20 | by ( Charmaine Jacob | In Charmainemariajacob | ) www.cnbc.com time to read: +7 min

India has undergone a massive infrastructure push and has made significant strides in connecting and modernizing its highways, railways and airports. He's going to double down on that," said Samir Kapadia, CEO of India Index and managing principal at Vogel Group. "Along with creating physical infrastructure, India needs to remain steadfast on the structural reforms ... Increase foreign investmentsFrom veteran emerging markets investor Mark Mobius to global strategist David Roche, market experts remain bullish on India. Foreign direct investments into the country needs to however pick up pace to further drive economic growth and development, analysts told CNBC.

Persons: Vikram Singh, Narendra Modi, Modi, Reema Bhattacharya, Verisk, Modi's, he's, Samir Kapadia, Nirmala Sitharaman, Santanu Sengupta, Goldman Sachs, Sengupta, Richard Rossow, Kapadia, Sumedha Gupta, Vivek Prasad, Prasad, Mark Mobius, David Roche Organizations: Bharatiya Janata Party, BJP, Infrastructure, India Index, Vogel Group, Nurphoto, CNBC, Center for Strategic, International Studies, Padget Electronics, Dixon Technologies, Bloomberg, Getty, Research, India Electronics, Semiconductor Association, Economist Intelligence Unit, Centre, Monitoring, National Stock Exchange of, World Federation of Exchanges Locations: India, Asia, China, Mumbai, Noida, PwC India, National Stock Exchange of India

☆ CNBC's Inside India newsletter: India Inc might not even need a Fed rate cut — but it wants one
▼ + stars: | 2024-06-20 | by ( Ganesh Rao | ) www.cnbc.com time to read: +7 min

The big storyEmerging markets have been on tenterhooks for the better part of this year as the Federal Reserve has been dangling the prospect of an interest rate cut. Historically, as U.S. interest rates fall, the allure of the mighty dollar fades to the benefit of other currencies. Indeed, unlike most developed economies, India's interest rate regime in 2024 isn't any different from that of 2018. There lies the disconnect between the economy, the stock market, and a single stock. Non-bank lender Akme Fintrade India and engineering firm DEE Development Engineers will debut on the stock market on Wednesday.

Persons: Sumant Sinha, we've, Sinha, It's, Fitch, Rahul Jain, Goldman Sachs, Jake Sullivan, Modi, Narendra Modi, CNBC's Charmaine Jacob, Raamdeo Agrawal, CNBC's Tanvir Gill, Jain Organizations: Bloomberg, Getty, Federal Reserve, India Inc, Nasdaq, Reserve Bank of, U.S, Societe Generale, Goldman, Clean Energy, CNBC, Motilal Oswal Financial Services, of India, Bangladesh, Australia, DEE Development Engineers Locations: Tuticorin, India, Reserve Bank of India, Japan, Britain, Delhi

☆ CNBC Pro Talks: Fund manager reveals how to invest after India’s election
▼ + stars: | 2024-06-19 | by ( ) www.cnbc.com time to read: +2 min

How do investors trade volatile Indian markets after the country's surprising election result? Jayaraman manages Causeway's Emerging Markets Fund and International Opportunities Fund. The portfolio manager would focus on the small- to mid-cap segment of the Indian market, he told CNBC Pro Talks on June 19. "Since India is a strong secular growth market, we would say the mid and small-cap [market] is the place to be. With many international investors not able to access Indian stocks easily, Jayaraman also named a few ETFs that he likes.

Persons: Arjun Jayaraman, Narendra Modi's, Jayaraman Organizations: Markets Fund, International, Fund, MSCI, CNBC, REC Locations: bullish, India, South Korea, Taiwan, U.S

☆ CNBC Pro Talks: Outperforming fund manager reveals how to invest after India's election
▼ + stars: | 2024-06-18 | by ( Cnbc.Com Staff | ) www.cnbc.com time to read: +2 min

On Wednesday's Pro Talks , CNBC's Tanvir Gill will ask Jayaraman how to navigate investing in the country, as well as other emerging markets. The portfolio manager and head of quantitative research at Causeway manages its Emerging Markets Fund and International Opportunities Fund . Join CNBC Pro Talks on Wednesday, June 19, at 6:30 a.m. BST / 1:30 p.m. SGT / 1:30 a.m. Learn more from our previous Pro Talks: The market has 'completely missed' this 'critical' AI chip stock, says fund manager Move over Nvidia: Fund manager likes 'overlooked' chipmaker with billions in AI chip sales Will the AI spending boom pay off? One tech fund manager says it looks 'compelling' for some firms Related coverage from Pro: Looking for top alternatives to Nvidia?

Persons: It's, Narendra Modi, Arjun Jayaraman, CNBC's Tanvir Gill, Jayaraman, Tanvir Gill Organizations: India, Causeway, Markets Fund, International, Fund, MSCI, Big, Nvidia Locations: India

☆ West Bengal, India: Train collision kills at least five in eastern India, police say
▼ + stars: | 2024-06-17 | by ( Rhea Mogul | ) edition.cnn.com time to read: +3 min

“Five passengers have died and 25-30 injured in the accident,” Darjeeling police superintendent Abhishek Roy told reporters from the crash site. People gather around the wreckage of a train after a collision in West Bengal, India on June 17, 2024. But decaying infrastructure is often cited as a cause for traffic delays and numerous train accidents. More than 16,000 people were killed in nearly 18,000 railway accidents across the country in 2021, according to the National Crime Records Bureau. Most railway accidents were due to falls from trains and collisions between trains and people on the track.

Persons: Mamata Banerjee, Abhishek Roy, ” Roy, Banerjee, ”, Narendra Modi Organizations: CNN, West Bengal, Mamata Banerjee . Disaster, Kanchenjunga Express, India, National Crime Records Locations: India, Kolkata, Silchar, Assam, Siliguri, Darjeeling, New Jalpaiguri, West Bengal, Odisha

☆ Nikhil Gupta: Indian suspect in plot to kill Sikh separatist extradited to US
▼ + stars: | 2024-06-17 | by ( ) edition.cnn.com time to read: +3 min

Nikhil Gupta has been accused by U.S. federal prosecutors of plotting with an Indian government official to kill Gurpatwant Singh Pannun, a U.S. resident who advocated for a sovereign Sikh state in northern India. Gupta traveled to Prague from India last June and was arrested by Czech authorities. Canada said in September its intelligence agencies were pursuing allegations linking India’s government to the murder of Sikh separatist leader Hardeep Singh Nijjar in June 2023 in Canada. India’s government has dissociated itself from the plot against Pannun, saying it was against government policy. New Delhi has long complained about Sikh separatist groups outside India, viewing them as security threats.

Persons: Nikhil Gupta, Gurpatwant Singh Pannun, Gupta, Jeffrey Chabrowe, India’s, Hardeep Singh Nijjar, Pannun, ”, Narendra Modi, Washington Organizations: Washington Reuters, U.S, of Prisons, Indian, Metropolitan Detention Center, U.S . Justice, Sikh, Reuters Locations: An, United States, Czech Republic, U.S, India, Prague, Czech, Brooklyn, Brooklyn ., Canada, Washington . New Delhi

☆ Hyundai: India’s biggest IPO could come from South Korean car manufacturer
▼ + stars: | 2024-06-17 | by ( Diksha Madhok | ) edition.cnn.com time to read: +3 min

The world’s biggest car market after China and the United States is the company’s third-biggest revenue generator globally. Hyundai India also said it wants to ship more cars, “strengthening” its position as an export hub. The South Korean parent will sell up to 142 million of the total 812 million shares, or 17.5%, in the IPO. With the IPO, Hyundai aims to unlock value for the Indian business and also help the Korean automaker shed its valuation discount compared to global and Asian peers. Hyundai is being advised on the IPO by investment banks Citi, JP Morgan, HSBC, Morgan Stanley and India’s Kotak.

Persons: Maruti Suzuki, Narendra Modi, JP Morgan, Morgan Stanley, India’s Organizations: Hyundai, Maruti, Tata Motors, Securities and Exchange Board of India, EV, South, Benchmark, Citi, HSBC Locations: India, Mumbai, Korean, China, United States, Hyundai India

☆ Top Wall Street analysts suggest these 3 dividend stocks for enhanced returns
▼ + stars: | 2024-06-16 | by ( Tipranks.Com Staff | ) www.cnbc.com time to read: +5 min

Wall Street's best analysts have insight into companies' ability to provide attractive dividend yield and upside for the long term. Here are three attractive dividend stocks, according to Wall Street's top pros on TipRanks, a platform that ranks analysts based on their past performance. With a quarterly dividend of $1.22 per share ($4.88 on an annualized basis), KMB offers a dividend yield of 3.5%. In June, the company paid a base dividend of $1.25 per share and a variable dividend of $1.69 per share. (See Chord Energy Stock Charts on TipRanks)Cisco SystemsOur third pick is dividend-paying technology stock Cisco Systems (CSCO).

Persons: Wall Street's, Wall, Kimberly, Clark, Nik Modi, Modi, Mike Hsu, TipRanks, William Janela, Janela, Jefferies, George Notter, Notter Organizations: Cisco, Clark Consumer, KMB, RBC Capital, Energy, Enerplus, Cisco Systems Locations: San Jose , California, Kimberly, North America, Williston

☆ Cocoa prices are soaring. Candy makers will need to get creative
▼ + stars: | 2024-06-15 | by ( Amelia Lucas | ) www.cnbc.com time to read: +7 min

Prices of cocoa have more than tripled over the last year, creating a big headache for candy makers and other food companies that use the ingredient to make chocolate. The price surge has since eased off slightly, but the crop is still commanding well above what food companies are used to paying. This season's cocoa crop is expected to experience the largest deficit in at least six decades, according to a Rabobank report from May. A YouGov survey conducted in October found that 72% of U.S. respondents had noticed shrinkflation in food products. J&J Snack Foods CEO Daniel Fachner has been keeping an eye on cocoa and chocolate prices.

Persons: Ferley Ospina, Hershey, Kinder, Ferrero, they'll, Steve Rosenstock, Mondelez, shrinkflation, Daniel Fachner, Fachner, Justin Sullivan, Nik Modi, Modi, shea, Rosenstock Organizations: Bloomberg, Getty, Cadbury, Clarkston Consulting, Rabobank, Reuters, Mondelez, Consumers, Snack, CNBC, RBC Capital, Jumbo Locations: Ragonvalia, Norte de Santader, Colombia, . West Africa, Ghana, U.S, Novato , California, West

☆ What to Know About the G7 Summit, and Why It Matters
▼ + stars: | 2024-06-13 | by ( Matthew Mpoke Bigg | ) www.nytimes.com time to read: +1 min

Every year, as the leaders of the world’s wealthiest large democracies gather for a summit, the same questions arise: What exactly is the summit for, and why does the group matter? The leaders, along with representatives of the European Union and selected guests, meet to discuss economic issues and major international policies. This year the summit’s host, Prime Minister Giorgia Meloni of Italy, has also invited other figures including Pope Francis and Prime Minister Narendra Modi of India. Whatever the leaders’ disagreements on the issues, one feature of the summits tends to be a shared overall outlook. They also share broadly similar views on trade, security and human rights, giving them enormous influence when they act in concert.

Persons: United States —, Giorgia Meloni, Pope Francis, Narendra Modi Organizations: United, European Union, India Locations: Britain, Canada, France, Germany, Italy, Japan, United States, Puglia, Italian, Ukraine, Gaza

☆ How to invest in India, the world's fastest-growing major economy
▼ + stars: | 2024-06-13 | by ( Lucy Handley | In | ) www.cnbc.com time to read: +10 min

India has been dubbed the "perfect" emerging market to invest in, but it can be tricky for those outside the country to gain access. India's stock market has been making headlines this year, and for good reason. "India remains one of the best-performing equity markets this year, underpinned by the world's fastest-growing major economy and a resilient macro backdrop," said James Thom, senior investment director Asian equities at Abrdn, in a note to clients. Some of the top ETFs in North America include the Columbia India Consumer ETF , the First Trust India NIFTY 50 Equal Weight ETF and the BMO MSCI India ESG Leaders Index ETF . In Europe, the list includes the iShares MSCI India UCITS ETF , which provides exposure to around 85% of the stock market, and the Xtrackers MSCI India Swap UCITS ETF Capitalisation 1C .

Persons: Krishnamurthy Subramanian, Narendra Modi's, Kevin T, Carter, Goldman Sachs, James Thom, aren't, GDRs, Arjun Jayaraman, there's, Jayaraman, Abrdn's Thom, Surendra Goyal, Thom, EMQQ Global's Carter, Modi's, it's, Jonathan Pines, — CNBC's Ganesh Rao, Tuul, Bruno Morandi Organizations: CNBC Pro, IMF, Bharatiya Janata Party, EMQQ, CNBC, Wealthmills Securities, Global, Causeway, Mutual, Columbia India Consumer ETF, First Trust India, BMO, India, Nasdaq, Investors, Nokia, Bank of America, Citi, Edge, Reliance Industries, U.S ., Bank of India, Network18, Bank, Getty Locations: India, China, North America, Europe, Singapore, U.S, Indian, Chhatrapati Shivaji Terminus, Mumbai

After a weekslong election, Prime Minister Narendra Modi of India and his party won a third term but lost their majority in parliament. The surprising rebuke gives strength to the voice of the opposition and the Indian public in a country that has drifted toward authoritarianism in recent years. The Opinion columnist Lydia Polgreen argues that this election result matters beyond India — and raises the importance of meeting voters where they are. (A full transcript of this audio essay will be available within 24 hours of publication in the audio player above.)

Persons: Narendra Modi, Lydia Polgreen Organizations: India Locations: India

☆ Modi is sworn in for a rare third term as India’s prime minister
▼ + stars: | 2024-06-09 | by ( ) www.cnbc.com time to read: +3 min

Indian Prime Minister Narendra Modi gestures as he arrives at Bharatiya Janata Party (BJP) headquarters in New Delhi, India, June 4, 2024. NEW DELHI — Narendra Modi was sworn in Sunday for a rare third consecutive term as India's prime minister, relying on his coalition partners after his party failed to win a parliamentary majority in a surprise outcome. The 73-year-old popular but polarizing leader is only the second Indian prime minister after Jawaharlal Nehru to retain power for a third five-year term. An avowed Hindu nationalist, the prime minister is considered a champion of the country's Hindu majority, who make up 80% of India's 1.4 billion population. Several South Asian leaders attended the swearing-in ceremony Sunday, including Bangladesh Prime Minister Sheikh Hasina, Sri Lankan President Ranil Wickremesinghe, Nepalese Prime Minister Pushpa Kamal Dahal and Maldives President Mohamed Muizzu.

Persons: Narendra Modi, Modi, Droupadi Murmu, Jawaharlal Nehru, he's, Sheikh Hasina, Ranil Wickremesinghe, Pushpa Kamal Dahal, Mohamed Muizzu, Muizzu Organizations: Indian, Bharatiya Janata Party, BJP, NEW, Modi's National Democratic Alliance, Modi's BJP, Telugu Desam Party, Janata Dal, INDIA, Bangladesh Locations: New Delhi, India, Andhra Pradesh, Bihar, Sri, Maldives, China

☆ India's race to overtake China will intensify after Modi's reelection because they have the same obsession, analyst says
▼ + stars: | 2024-06-09 | by ( Huileng Tan | ) www.businessinsider.com time to read: +5 min

Read previewIndian Prime Minister Narendra Modi this week secured a historic third term in office — and it's likely to intensify India's economic rivalry with China. Both India and China will be focused on manufacturingTo reach its goal, Modi's India will likely be going big on manufacturing. Companies are diversifying their operations outside China to avoid over-relying on one country, and India is aiming to be the new China. AdvertisementIndia's foreign policy toward China is unlikely to change following Modi's re-election, Ivan Lidarev, an Asian security scholar at King's College London, told Channel NewsAsia. "I think India has strived to position itself as a leader of the global south, and of course, China wants this position," added Lidarev.

Persons: —, Narendra Modi, David Lubin, Modi, Xi Jinping, Bharat, Lubin, Raghuram Rajan, NPR's, Rajan, It's, William Lai's, Mao Ning, Ivan Lidarev Organizations: Service, London, Business, South, Central Bank of India, EV, King's College London, West Locations: —, China, Asia, India, Vietnam, Bangladesh, Malaysia, Delhi, Taiwan, Beijing

☆ Insider Today: Asia's superpower clash
▼ + stars: | 2024-06-09 | by ( Matt Turner | ) www.businessinsider.com time to read: +5 min

The latest to get in on the act: Tesla, which is selling a $450 bottle of mezcal on its website. The election result was a blow to Modi, who has governed India for a decade with an increasingly firm grip. India watchers expect the country's new government to move slower on some issues following the surprise election result. NvidiaGoing up against Nvidia is generally considered a pretty bad idea for startups in Silicon Valley. But Silicon Valley often thrives when true technologists keep hacking away at something they believe in, even if everyone else thinks it's dumb.

Persons: —, Narendra Modi, SAJJAD HUSSAIN, Modi, He'll, Jamie Dimon, Dominic Bugatto, Alyssa Powell, hawking, Goldman Sachs, Goldman, HWA CHENG, Chelsea Jia Organizations: Service, Business, Bharatiya Janata Party's, Bharatiya Janata Party, titans, UN Security Council, Southern, Southern District of, Goldman, BI, HWA, Getty Images, Nvidia Locations: India, New Delhi, China, Southern District, Southern District of Texas, Salt Lake City, Nashville, Atlanta, AFP, Silicon Valley

☆ Modi, Striking a Modest Tone, to Be Sworn In for a Third Term
▼ + stars: | 2024-06-09 | by ( Mujib Mashal | Hari Kumar | ) www.nytimes.com time to read: 1 min

As a humbled Narendra Modi prepared to take the oath for a third term as India’s prime minister on Sunday, the political air in New Delhi appeared transformed. The election that ended last week stripped Mr. Modi of his parliamentary majority and forced him to turn to a diverse set of coalition partners to stay in power. Their leaders have been swarmed by TV crews while on their way to present demands and policy opinions to Mr. Modi. Above all, the change can be seen in Mr. Modi himself. He pitches himself as the modest administrator that voters showed they wanted.

Persons: Narendra Modi, Modi Locations: New Delhi

☆ Narendra Modi sworn in for third term as India's prime minister in pictures
▼ + stars: | 2024-06-09 | by ( Cameron Manley | ) www.businessinsider.com time to read: +1 min

Narendra Modi begins third term as India's prime minister after election victory. Modi's Bharatiya Janata Party won 240 seats, forming a coalition for a parliamentary majority. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . AdvertisementNarendra Modi has been sworn in for a third term as India's prime minister after winning the election but losing a parliamentary majority on Friday. Modi, 73, has been forced to form a coalition government as leader of the BJP-led National Democratic Coalition, which together controls 293 seats.

Persons: Narendra Modi, —, Modi Organizations: Modi's Bharatiya Janata Party, Rashtrapati Bhavan, Service, Bharatiya Janata Party, BJP, National Democratic Coalition, Business Locations: New Delhi

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