NewzIntel.com

Category: India

  • Indian markets end flat amid ongoing consolidation phase

    Source: Government of India

    Source: Government of India (4)

    The Indian stock market closed largely unchanged on Tuesday, reflecting a continuation of the ongoing consolidation phase. The BSE Sensex slipped 53.49 points to settle at 82,391.72, while the NSE Nifty inched up by a single point to end at 25,104.25.

    IT stocks led the gains, with the Nifty IT index rising 1.67%. Other sectoral indices that closed in the green included pharma, FMCG, metals, media, energy, and commodities. On the other hand, auto, PSU banks, financial services, realty, and infra indices registered losses.

    Among the top gainers on the Sensex were Tech Mahindra, Tata Motors, Infosys, HCL Tech, UltraTech Cement, TCS, ITC, Axis Bank, Nestle, and Adani Ports. Meanwhile, Maruti Suzuki, Asian Paints, Bajaj Finance, Tata Steel, Bajaj Finserv, ICICI Bank, and Reliance Industries ended the day in the red.

    According to analysts, the Nifty has managed to sustain levels above its previous consolidation zone on the daily chart, suggesting the uptrend remains intact.

    “This positive sentiment is likely to persist and favours long trades as long as the index stays above the key support level of 24,850. If the Nifty breaks decisively above 25,350, we may see an extended rally in the short term,” said Rupak De, Senior Technical Analyst at LKP Securities.

    Vikram Kasat, Head of Advisory at PL Capital, added that despite the current consolidation, factors such as improving liquidity, resilient corporate earnings, and continued interest from foreign portfolio investors (FPIs) are supporting market optimism.

    On the currency front, the rupee traded flat to slightly positive at around 85.67 to the dollar. Analysts said last week’s 0.50% rate cut by the Reserve Bank of India—bringing the total rate reduction to 100 basis points—has added liquidity, helping offset pressure from rising crude oil prices. The rupee is expected to remain range-bound between 85.25 and 86.00 in the near term.

    Meanwhile, gold prices hovered in a tight range between $3,315 and $3,320 per ounce and around ₹97,000 per 10 grams in the domestic market. Market participants are awaiting cues from upcoming US-China trade talks and the release of US Consumer Price Index (CPI) data later this week.

    “Any positive outcome in US-China trade discussions could push gold down towards ₹95,000, while negative commentary might drive prices higher towards ₹98,500 and $3,360 levels,” said Jateen Trivedi, VP Research Analyst at LKP Securities.

    -IANS

  • Lutnick says US-China trade talks going well on second day

    Source: Government of India

    Source: Government of India (4)

    U.S. Commerce Secretary Howard Lutnick said on Tuesday trade talks with China were going well as the two sides met for a second day in London, seeking a breakthrough on export controls that have threatened a fresh rupture between the superpowers.

    U.S. and Chinese officials are trying to get back on track after Washington accused Beijing of blocking exports of rare earth minerals that are critical to its economy, straining ties after they struck a preliminary deal in Geneva last month to step back from a full-blown trade embargo.

    White House economic adviser Kevin Hassett said on Monday that the U.S. was ready to agree to lift export controls on some semiconductors in return for China speeding up the delivery of rare earths and magnets.

    “(Talks went on) all day yesterday, and I expect (them) all day today,” Lutnick told reporters. “They’re going well, and we’re spending lots of time together.”

    Trump’s shifting tariff policies have roiled global markets, sparked congestion and confusion in major ports, and cost companies tens of billions of dollars in lost sales and higher costs.

    But markets have made up much of the losses they endured after Trump unveiled his sweeping “Liberation Day” tariffs in April, aided by the reset in Geneva between the world’s two biggest economies.

    The second round of U.S.-China talks, which followed a rare phone call between Trump and Chinese President Xi Jinping last week, comes at a crucial time for both economies.

    Customs data published on Monday showed that China’s exports to the U.S. plunged 34.5% in May, the sharpest drop since the outbreak of the COVID pandemic.

    While the impact on U.S. inflation and its jobs market has so far been muted, tariffs have hammered U.S. business and household confidence and the dollar remains under pressure.

    DISCUSSING DISAGREEMENTS

    The talks have been led by U.S. Treasury Secretary Scott Bessent, Lutnick and U.S. Trade Representative Jamieson Greer, with the Chinese contingent helmed by Vice Premier He Lifeng.

    The talks ran for almost seven hours on Monday and resumed just before 1000 GMT on Tuesday, with both sides expected to issue updates later in the day.

    The inclusion of Lutnick, whose agency oversees export controls for the U.S., is one indication of how central rare earths have become. He did not attend the Geneva talks, when the countries struck a 90-day deal to roll back some of the triple-digit tariffs they had placed on each other.

    China holds a near-monopoly on rare earth magnets, a crucial component in electric vehicle motors, and its decision in April to suspend exports of a wide range of critical minerals and magnets upended global supply chains and sparked alarm in boardrooms and factory floors around the world.

    Kelly Ann Shaw, a former White House trade adviser during Trump’s first term and now a trade partner at the Akin Gump law firm in Washington, said she expected China to reaffirm its commitment to lift retaliatory measures, including export restrictions, “plus some concessions on the U.S. side, with respect to export control measures over the past week or two”.

    But Shaw said she expected the U.S. to only agree to lift some new export curbs, not longstanding ones such as for advanced artificial intelligence chips.

    In May, the U.S. ordered a halt to shipments of semiconductor design software and chemicals and aviation equipment, revoking export licences that had been previously issued.

    (Reuters)

  • WTC final: Proteas hunt maiden crown as Australia look to defend title at Lord’s

    Source: Government of India

    Source: Government of India (4)

    Australia and South Africa will collide in the 2023–25 ICC World Test Championship final at Lord’s, starting June 11, with the defending champions aiming to retain their title and the Proteas desperate to finally shake off decades of knockout heartbreak.

    Australia, led by Pat Cummins, qualified with a 67.54% points percentage across 19 Tests. South Africa, captained by Temba Bavuma, finished top with 69.44% from just 12 matches.

    Interestingly, the two sides have not met in the current WTC cycle. The clash at the ‘Home of Cricket’ marks their first red-ball encounter in over two years and only their second Test series meeting since the 2018 ‘sandpapergate’ scandal.

    Australia Hold Edge at Lord’s

    Australia boasts a strong history at Lord’s, with 18 wins and only seven defeats in 40 Tests. The team has won three of its last five Tests at the ground, including a controversial 2023 Ashes encounter overshadowed by the Jonny Bairstow stumping.

    Veteran batter Steve Smith will return to the venue where he made his debut in 2010. Smith has scored 525 runs at an average of 58.33 at Lord’s and requires 17 more to surpass Don Bradman as Australia’s highest run-scorer at the ground.

    South Africa’s Path to Final Raises Questions

    South Africa’s route to the final included a late surge of seven consecutive wins after an indifferent start to the cycle. The streak included series victories over West Indies, Bangladesh, Sri Lanka, and Pakistan.

    Despite the impressive run, South Africa are yet to register a win over any of the top-four ranked sides during the current WTC period. Eight players in their 15-member squad have never played a Test at Lord’s.

    Australia Face Selection Dilemmas

    Australia are considering reshuffling their top order to accommodate all-rounder Cameron Green, who is returning from a back injury. Marnus Labuschagne could be promoted to open alongside Usman Khawaja, with teenager Sam Konstas likely to miss out.

    Green, who will not bowl, could be replaced in the seam department by either Josh Hazlewood or Scott Boland, with all-rounder Beau Webster also under consideration. Australia enter the final with three batters – Khawaja, Smith and Travis Head – among the top ten run-scorers in the WTC cycle.

    South Africa’s Pace Attack Key to Upset

    South Africa will rely heavily on fast bowler Kagiso Rabada, who returns after a one-month suspension. Rabada has taken 49 wickets against Australia at an average of 23.08 and boasts the best average at Lord’s among participating bowlers – 13 wickets at 19.38 from two Tests.

    He is likely to be supported by Marco Jansen, Wiaan Mulder, and one of Lungi Ngidi, Dane Paterson or Corbin Bosch. The Proteas could spring a surprise by fielding the uncapped Bosch, whose raw pace may challenge Australia’s experienced batting line-up.

    Squads:

    Australia Squad: Sam Konstas, Usman Khawaja, Marnus Labuschagne, Steven Smith, Travis Head, Beau Webster, Alex Carey(w), Pat Cummins(c), Mitchell Starc, Nathan Lyon, Scott Boland, Josh Hazlewood, Josh Inglis, Cameron Green, Matthew Kuhnemann

    South Africa Squad: Aiden Markram, Tony de Zorzi, Ryan Rickelton, Tristan Stubbs, Temba Bavuma(c), David Bedingham, Kyle Verreynne(w), Marco Jansen, Keshav Maharaj, Kagiso Rabada, Dane Paterson, Senuran Muthusamy, Wiaan Mulder, Lungi Ngidi, Corbin Bosch

     

  • RBI to discontinue daily Variable Rate Repo auctions amid liquidity surplus

    Source: Government of India

    Source: Government of India (4)

    The Reserve Bank of India (RBI) on Tuesday announced that it will discontinue daily Variable Rate Repo (VRR) auctions from June 11, 2025, in light of a growing liquidity surplus in the banking system, which currently stands at approximately ₹3 lakh crore.

    In a statement, the RBI said, “Further, on a review of current and evolving liquidity conditions, it has been decided that the daily VRR auctions, as announced in the above press release, will be discontinued with effect from June 11, 2025, Wednesday.”

    The decision comes amid tepid demand for daily VRR operations, with banks borrowing just ₹3,711 crore on June 9 and ₹3,853 crore on June 10 against a notified amount of ₹25,000 crore.

    The central bank had introduced daily VRR auctions on January 16, 2025, to address temporary liquidity tightness caused by tax-related outflows and foreign exchange interventions. However, with liquidity conditions now easing, the RBI is shifting its focus to stabilising overnight money market rates, which have been trending lower due to excess funds in the system.

    Despite the discontinuation of daily operations, market participants expect the RBI to continue with 14-day VRR auctions to manage short-term liquidity as needed.

    The move follows the central bank’s recent decision to cut the Cash Reserve Ratio (CRR) by 100 basis points to 3.0%, a measure expected to infuse an additional ₹2.5 lakh crore into the banking system.

    The VRR mechanism allows banks to borrow short-term funds from the RBI against government securities as collateral, with the interest rate determined through an auction. It has been an important tool for liquidity management during periods of financial tightness.

    With the current surplus, the RBI’s decision is in line with its neutral policy stance and reflects a calibrated approach to adjusting liquidity instruments based on prevailing market conditions.

    — ANI

  • Piyush Goyal deepens India–Switzerland trade ties, urges Swiss firms to invest under TEPA

    Source: Government of India

    Source: Government of India (4)

    Union Commerce and Industry Minister Piyush Goyal met with top Swiss business leaders in Bern on Monday to boost bilateral economic ties. The discussions, held under the framework of the recently signed Trade and Economic Partnership Agreement (TEPA) between India and the European Free Trade Association (EFTA), focused on expanding cooperation in innovation, technology transfer, and sustainable manufacturing.

    During his visit, Goyal interacted with senior leadership from some of Switzerland’s most prominent companies spanning sectors such as biotechnology, precision engineering, healthcare, defence, and emerging technologies. The Minister extended an open invitation for Swiss firms to expand their footprint in India, highlighting the vast potential of India’s rapidly growing economy, youthful talent base, and favorable investment climate.

    Reaffirming India’s commitment to enabling global business, Goyal assured Swiss companies of a transparent regulatory framework, a robust intellectual property rights regime, and investor-friendly policies. He urged businesses to view India not merely as a large consumer market, but as a strategic hub for manufacturing, innovation, and global value chain integration.

    Goyal chaired two sector-focused roundtable discussions with Swiss industry leaders. The first session spotlighted Biotech, Pharma, and Healthcare, while the second addressed Precision Engineering, Defence, and Emerging Technologies. Both events were hosted with support from the Indian Embassy in Switzerland and showcased India’s growing reputation as a destination for affordable innovation and scalable production.

    The Minister highlighted the role of the EFTA Desk at Invest India, set up to provide facilitation support and handholding to potential Swiss investors. He emphasized India’s openness to working towards regulatory harmonization and mutual recognition agreements, further smoothing the path for Swiss-Indian partnerships.

    Beyond business interactions, Goyal also met with members of the Switzerland Chapter of the Institute of Chartered Accountants of India (ICAI). He praised the chapter for its efforts in promoting India’s professional excellence abroad and strengthening the India–Switzerland economic and professional networks.

    Swiss business leaders expressed robust confidence in India’s economic trajectory and its potential as a global innovation powerhouse. Commending India’s growing middle class, skilled workforce, and strong R&D capabilities, companies from a range of sectors voiced their intent to deepen engagement with India. Discussions touched on potential joint ventures, manufacturing localization, and co-development of high-tech solutions across fields such as cell sciences, cancer research, fibre optics, industrial automation, space technology, and cybersecurity.

    Many Swiss companies acknowledged India as a natural partner, describing the bilateral economic relationship as one of strategic alignment and long-term commitment. For them, India represents both a key market and a springboard for accessing international customers through integrated supply chains and co-created technologies.

  • Five killed, others injured in Austrian school attack

    Source: Government of India

    Source: Government of India (4)

    At least five people have been killed in an attack at a school in the Austrian city of Graz and others were injured, Austrian media including tabloid Kronen Zeitung reported on Tuesday.

    Citing local police, Austrian state media ORF said several people had been seriously injured, including students and teachers.

    Police said an operation was underway in a street called Dreierschuetzengasse, on which there is a secondary school, but declined further comment.

    Police are currently evacuating the building, ORF said.

    It was not immediately clear whether the suspect was among the reported victims.

    -Reuters

  • PM Modi highlights rapid growth in India’s technical textiles sector

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Tuesday highlighted rapid growth in India’s technical textiles sector, propelled by key government initiatives, including the National Technical Textiles Mission (NTTM) and the Production Linked Incentive (PLI) scheme.

    Responding to an article written by Union Minister Giriraj Singh, PM Modi shared on X, “India’s technical textiles sector is witnessing rapid growth, driven by key initiatives like the National Technical Textiles Mission and the PLI scheme. These efforts are boosting manufacturing, innovation and exports, positioning India as a global leader, writes Union Minister Giriraj Singh.”

    Technical textiles refers to fabrics designed and manufactured for their functional and technical properties, rather than their aesthetic appeal. They are engineered to perform specific tasks, like reinforcement, filtration, protection, and more.

    To boost the technical textiles sector in the country, the National Technical Textiles Mission (NTTM) was launched for the period 2020–21 to 2025–26, with an outlay of ₹1,480 crore. The Mission focuses on promoting the use of technical textiles across various flagship schemes and strategic sectors. NTTM funds are allocated for research, innovation and development; promotion and market expansion; export promotion; as well as education, training, and skilling.

    The Production Linked Incentive (PLI) Scheme is aimed at self-reliance. Targeting key sectors such as electronics, textiles, pharmaceuticals, and automobiles, the scheme offers financial incentives linked to clear performance metrics like increased production and incremental sales. This results-based approach not only attracts both domestic and foreign investment but also drives adoption of advanced technologies and supports the achievement of economies of scale.

     

  • MIL-OSI United Nations: Kamal Kishore: We can celebrate success, but the real work starts now

    Source: UNISDR Disaster Risk Reduction

    Last week the Global Platform for Disaster Risk Reduction brought together an amazing, devoted community of disaster risk reduction practitioners from all around the world.

    Over the past four decades, since the early days of the Decade for Disaster Risk Reduction, this community has really stuck together. It’s a caring community: sensitive, solutions-oriented, increasingly inclusive.

    It’s fantastic that we can come together every few years to take stock of what we’re achieving, where we are falling short, and what we could do more of.

    Throughout the week they have shown us solutions from every corner of the world – from remote communities in Nepal to small island nations across the Pacific, Caribbean, and Indian Ocean, to flood- or drought-prone regions across the globe.

    There’s so much happening – and that is a real cause for optimism. It provides me with determination to do more.

    After reflecting on all that I’ve learnt, the discussions I’ve had and listened to, and the immense collection of experience, perspectives and wisdom that were assembled, I want to highlight three things:

    First: we are succeeding

    Disaster mortality is down 50% decade on decade.

    Over 130 countries have DRR strategies.

    That’s a scale of progress we haven’t seen in any other area of development practice. We are succeeding – and that’s rare.

    But success is fragile: Yes, fewer lives are lost – but the newer risks are shifting. Mortality risk from intensifying hazards like heatwaves, and low-frequency high-impact geophysical hazards such as earthquakes and tsunamis continues to be a cause for concern.

    We still have work to do on Target A – to reduce disaster mortality – and Target E – to put in place national and local DRR strategies.

    Strategies exist; but are they backed by funding? By legislation? Are their effects felt at local level? We must ask these tough questions – to ourselves, our communities, and our governments – so that we can find and fill the gaps.

    Success is not guaranteed to last. We need to consolidate our progress and remain alert. We have to do more.

    Second: we need to get serious about financing 

    This is the next leap: we – as DRR practitioners, as governments, as the international community – still need serious resourcing for disaster risk reduction.

    After 35 years, we still haven’t cracked this problem, and no country is immune. We need to ask, why?

    The evidence shows the value of DRR investments, but we need to make it more robust and granular, and framed in ways that can persuade potential financiers.

    In our quest for more resources, we must look at all sources: national budgets, private capital, insurance, climate finance, development aid. The investments benefit everyone, so the money must come from everywhere.

    But that raises an equally important question: how do we use this money? Do we have the systems to allocate it effectively? Very few countries have national infrastructure investment plans that are informed by risk data.

    Switzerland – our GP 2025 host – is a standout. The Swiss Government and private sector invest billions every year in disaster risk reduction and measuring outcomes. And the returns of this investment are clear: just last week, when the village of Blatten was obliterated by a landslide, triggered by glacial melting, nearly all the population, plus their livestock, were evacuated to safety thanks to early warnings and robust risk management.

    We must continue to focus on infrastructure investment planning. This Platform brought together finance ministers and planners from several countries— but let’s go further. Next time we should bring 70 finance ministers, and ask them: “What is your infrastructure investment strategy, and how is it risk-informed?”

    We must go even further, and take the discussion beyond top-level conversations, down to sector-by-sector planning, and ask, “where is the risk?”

    Our 2025 Global Assessment Report can help show where the risk is; now we need to translate those findings into strategic investments, at scale. Otherwise, our development gains will be continuously eroded.

    This next leap is also about mainstreaming risk-informed development — something we’ve talked about for two decades, but we still haven’t done enough. This means investing in humble infrastructure – homes, schools, hospitals – and not just in power, water, transport, and telecoms.

    During the GP we had a ministerial roundtable on school safety. We know how to make schools safer: in Nepal, after the 2015 earthquake, every one of the 150 retrofitted schools in Kathmandu Valley remained usable.

    And in doing all this, we must keep our promise to the Small Island Developing States, who are at the frontline of increasing climate disasters.

    Third: there is inspiration all around us

    My third point is about inspiration. What has been really inspiring at this Platform is the work of community groups, women’s groups, youth groups, local governments.

    The innovative work is happening at local levels. We need to capture and elevate these initiatives – not just to circulate in reports, but to give legitimacy, voice, and funding so these actions can be scaled.

    The future of disaster risk reduction is not just national. It’s in cities, towns, and villages.

    If we don’t reduce risk at the local level, we won’t succeed. Local actors are already taking action – they are not waiting for the UN or national governments. We must scale this work.

     

    Watch some examples of inspiring initiatives 

    To sum up: If we consolidate our progress – without taking it for granted; if we fast-track financing for DRR; and if we elevate local action, we will go far. In five years, we will be celebrating not just disaster risk reduction, but human flourishing.

    The slogan for the 2025 Global Platform has been ‘Every day counts: act for resilience today.’ We must all take that call to heart.

    The work starts now.

    We have the eight-point Geneva Call for Disaster Risk Reduction to guide us, outlined in the Global Platform Co-Chairs’ Summary.

    When asked how the Global Platform was, I say: I’ll tell you in six months – because the discussions and pledges made this week are only as good as the follow-up.

    Finally, I’d like to thank everyone who put in so much hard work that contributed to the success of the 2025 Global Platform: The Government of Switzerland and the Canton of Geneva for hosting, the Member States and ministers, UN partners, my UNDRR team, and most of all, the dedicated and tireless DRR community who joined us in Geneva and remotely.

    MIL OSI United Nations News –

  • MIL-OSI Video: 1967: Ravi Shankar & Yehudi Menuhin at the United Nations | United Nations

    Source: United Nations (Video News)

    In 1967, two musical legends — Yehudi Menuhin, a British-American violin virtuoso, and Ravi Shankar, India’s sitar master — came together on the world’s stage: the United Nations General Assembly Hall.

    Utilizing footage from the UN Audiovisual Library, this story showcases more than a concert — it reveals a powerful moment of cultural dialogue, mutual respect, and musical unity.

    www.unmultimedia.org/avlibrary

    https://www.youtube.com/watch?v=tKToRz_pmSE

    MIL OSI Video –

  • Russia launches one of war’s largest air attacks on Kyiv

    Source: Government of India

    Source: Government of India (4)

    Russia launched one of its largest air strikes on Kyiv in over three years of war and struck a maternity ward in the southern city of Odesa in attacks that killed at least two people, officials said on Tuesday.

    The overnight strikes followed Russia’s biggest drone assault of the war on Ukraine on Monday and were part of intensified bombardments what Moscow says is retaliation for attacks by Ukrainian forces on Russia.

    Loud explosions shook Kyiv and blasts and fires lit up the sky in the early hours of Tuesday morning, leaving palls of heavy smoke over the city, Reuters witnesses said.

    At least four people were treated in hospital after seven of the capital’s 10 districts were hit, city officials said.

    “Today was one of the largest attacks on Kyiv,” President Volodymyr Zelenskiy said. “Russian missile and Shahed (drone) strikes drown out the efforts of the United States and others around the world to force Russia into peace.”

    Zelenskiy urged Ukraine’s allies to take steps to force Russia into peace, and Ukrainian Foreign Minister Andrii Sybiha called for immediate new sanctions and air defence systems.

    Although Moscow and Kyiv have held two rounds of direct peace talks in recent weeks, the only tangible progress has been an agreement on exchanges of prisoners of war, and Russia has continued to advance along the front line in eastern Ukraine.

    Moscow and Kyiv blame each other for the lack of progress towards ending the war, which has raged since Russia’s full-scale invasion in February 2022, and U.S. President Donald Trump has expressed frustration with both sides.

    Russia temporarily halted flights overnight at four airports serving Moscow, at St Petersburg’s Pulkovo Airport and at airports in nine other cities after the Defence Ministry said Ukraine had launched more drones at Russia, officials said.

    Flights in Moscow and some other cities were later restored but restrictions were still in place in St Petersburg at 0430 GMT. No damage was reported.

    ‘DIFFICULT NIGHT’

    Ukraine’s air force said Russia had fired 315 drones across the country, of which 277 were downed. All seven missiles launched by Russia were also brought down, it said.

    Air raid alerts in Kyiv and most Ukrainian regions lasted five hours until around 5 a.m. (0200 GMT), according to information released by the military.

    “A difficult night for all of us,” Timur Tkachenko, head of Kyiv’s city military administration, said on Telegram.

    Moscow has intensified attacks on Ukraine following Kyiv’s strikes on strategic bombers at air bases inside Russia on June 1. Moscow also blamed Kyiv for bridge explosions on the same day that killed seven and injured scores.

    Over the past week, Russia has launched 1,451 drones and 78 missiles to attack the country, according to Ukrainian air force data.

    In the southern port of Odesa, an overnight drone attack hit an emergency medical building, a maternity ward and residential buildings, regional governor Oleh Kiper said on Telegram.

    Two men were killed in the attack on the city but patients and staff were safely evacuated from the maternity hospital, he said.

    Both sides deny targeting civilians but thousands of civilians have been killed in Europe’s worst conflict since World War Two, the vast majority of them Ukrainian.

    (Reuters)

  • 11 years of Modi govt: Flagship schemes drive India’s sporting transformation

    Source: Government of India

    Source: Government of India (4)

    Over the past 11 years, India has witnessed a dramatic transformation in its sporting landscape, driven by a series of ambitious flagship schemes launched under the Modi government. From building grassroots infrastructure to supporting Olympic medal hopefuls, the Ministry of Youth Affairs and Sports has played a pivotal role in shaping a new sporting era for the nation.

    With India’s youth forming nearly 65% of its population, the government has identified sports as a key tool for empowerment and nation-building. Reflecting this, the sports ministry’s budget has seen a 130.9% increase from ₹1,643 crore in 2014–15 to a record ₹3,794 crore in 2025–26.

    Central to this transformation is the Khelo India programme, launched in 2016–17. With ₹1,000 crore allocated in the latest budget, it has supported the creation of over 1,000 training centres, approved 326 infrastructure projects, and nurtured nearly 2,845 athletes through coaching and financial assistance.

    The Khelo India Games—covering youth, university, para and winter editions—have grown significantly, with over 50,000 athletes participating in 17 editions since 2018. Talent identification is being sharpened through KIRTI, a data-driven program using AI-based protocols to scout young talent aged 9–18.

    At the elite level, the Target Olympic Podium Scheme (TOPS) has backed India’s Olympic and Paralympic champions, offering customized training and monthly allowances to core athletes. The results are evident: India won 7 medals at Tokyo 2020 and 6 at Paris 2024, while Paralympians clinched a record 29 medals in Paris.

    The Fit India Movement, launched in 2019, has further promoted a culture of fitness through mass participation events, online campaigns, and family engagement sessions.

    In addition, a ₹200 crore special package has bolstered sports infrastructure in Jammu & Kashmir, while programs under Nehru Yuva Kendra Sangathan (NYKS) have empowered youth across 623 districts.

    From village-level talent to international podiums, India’s sports ecosystem is now more inclusive, robust, and performance-driven than ever. As the nation looks ahead to the 2036 Olympics and beyond, these initiatives reflect a clear vision: to make India a top-10 sporting nation in the world.

  • 11 years of Modi govt: Indian athletes shine on global stage with record-breaking performances

    Source: Government of India

    Source: Government of India (4)

    India’s sporting achievements have witnessed a remarkable surge over the past 11 years, with Indian athletes delivering historic performances across major international competitions. Backed by flagship initiatives like Khelo India, TOPS, and KIRTI, the country has steadily climbed the global sporting ladder.

    At the Olympics, India went from winning just 2 medals at Rio 2016 to a record 7 medals at Tokyo 2020 and 6 at Paris 2024. Star performers such as Neeraj Chopra, who clinched India’s first Olympic athletics gold, and Mirabai Chanu in weightlifting, led the way in India’s Olympic resurgence.

    The Paralympics marked an even more dramatic transformation. From just 4 medals in Rio 2016, India bagged 19 in Tokyo 2020 and a record-breaking 29 medals in Paris 2024, including 7 golds. This success reflects the impact of structured support and inclusion of para-athletes in schemes like TOPS and the Khelo India Para Games.

    India’s rise continued at the Asian Games, where the Hangzhou 2023 edition became historic with 107 medals from a record 655-member contingent. Similarly, at the Commonwealth Games, India consistently maintained strong performances, securing over 60 medals in each edition from 2014 to 2022.

    Indian athletes also made global headlines elsewhere—winning double gold at the 2024 FIDE Chess Olympiad, a gold in javelin at the World Athletics Championships 2023, and a historic Thomas Cup win in badminton in 2022. Shooters and para-table tennis players also delivered standout performances in global competitions.

    India has also emerged as a hub for major international sports events, hosting the FIDE Chess Olympiad (Chennai), MotoGP Bharat (Noida), BIMSTEC Aquatics Championship (Delhi), and the FIFA U-17 Women’s World Cup (Bhubaneswar). In 2023, India hosted the prestigious IOC Session in Mumbai, further strengthening its role in global sports diplomacy.

    With increased investment, strategic planning, and world-class talent, India’s sporting transformation under the Modi government is no longer a vision — it’s an unfolding reality. As the country eyes the 2036 Olympics, its journey towards becoming a top-10 sporting nation is firmly on track.

  • Yogi Adityanath highlights govt’s achievements as PM Modi completes 11 years in office

    Source: Government of India

    Source: Government of India (4)

    Uttar Pradesh Chief Minister Yogi Adityanath on Tuesday inaugurated an exhibition at the Bharatiya Janata Party (BJP) office in Lucknow to mark Prime Minister Narendra Modi’s completion of 11 years in office. Deputy Chief Ministers Keshav Prasad Maurya and Brajesh Pathak were also present at the event.

    Highlighting the Modi government’s achievements over the past 11 years, Yogi described this period as a golden era of good governance and welfare for the poor—an era that laid the foundation for a developed and self-reliant India. He emphasized that under PM Modi’s leadership, India has not only accelerated its growth but also emerged as a symbol of global trust, gaining a strong international identity.

    Criticizing the Congress for decades of misgovernance, the Uttar Pradesh CM said, “Due to Congress-led governments and other unstable administrations in the 65 years following independence, the common citizen’s trust was broken, and India’s global image was tarnished. But over the past 11 years, under PM Modi’s leadership, a corruption-free, appeasement-free, unified India has been realised.”

    Yogi stressed that during this period, India has forged a new identity in social welfare, governance, the economy, and security. “Government transparency and accountability towards the public have become distinguishing hallmarks. A new harmony between development and heritage has been created,” the UP CM said.

    Emphasising PM Modi’s idea of Sabka Saath, Sabka Vikas, Yogi said the mantra has become the face of the government. “Now, benefits are delivered not based on who someone is, but impartially — and Sabka Saath, Sabka Vikas (together with all, development for all) has become the new face of governance,” he said.

    Yogi pointed out the steps taken by the NDA government against terrorism, highlighting recent actions during Operation Sindoor.

    “Now, we have changed our approach to terrorism compared to before 2014 — India favours peace. PM Modi, by setting a new normal, has changed the entire concept — we will live in peace with friends, but if someone imposes war on us, induces terrorism in our country, and threatens our security, the response will be surgical strikes, air strikes, and Operation Sindoor. We have demonstrated this with ‘Made in India’ capability, and the world has recently realised India’s strength,” he said.

    Yogi also mentioned the abrogation of Article 370: “Article 370, which had been in place since 1952, was repealed by our government. India’s integrity was reinforced — from Kashmir to Kanyakumari.”

    Highlighting achievements in the agriculture sector, he said the double-engine government has benefited farmers and the agri-industry.

    “Before 2017, sugar mills in Uttar Pradesh were shutting down. Between 1996 and 2017, there were payments due for 22 years, but in just the last seven years, an additional ₹71,000 crore has been paid. This is the guarantee of a double-engine government,” Yogi said.

    The UP Chief Minister also underlined government schemes aimed at empowering women, such as the Beti Bachao, Beti Padhao campaign, 33 per cent reservation for women in legislatures, the abolition of triple talaq, granting freedom to women, and the Lakhpati Didi scheme for women entrepreneurs.

    ANI

  • Air Chief Marshal AP Singh wishes Group Captain Shubhanshu Shukla ahead of Axiom-4 space mission

    Source: Government of India

    Source: Government of India (4)

    Chief of the Air Staff, Air Chief Marshal AP Singh, on Tuesday interacted via video conference with Group Captain Shubhanshu Shukla, who is set to embark on the Axiom-4 space mission, an official statement from the Indian Air Force said.

    Air Chief Marshal Singh extended best wishes to Group Captain Shukla, who will be India’s second astronaut to travel to space since 1984.

    In a post on X, IAF said, “As Group Captain Shubhanshu Shukla prepares to embark on the Axiom-4 space mission tomorrow, Chief of the Air Staff and all Air Warriors of IAF wish him and the entire crew of Axiom-4 all the best for a safe and successful trip to the International Space Station. This will add a new chapter to the Indian Space Odyssey”.

    The Axiom-4 mission, originally scheduled for launch on June 10, was postponed due to unfavorable weather and is now set for 5:30 PM IST on June 11. The mission will carry Shukla to the International Space Station (ISS). The crew includes members from India, Poland, and Hungary, marking each nation’s first mission to the ISS. According to Axiom Space, this will be India’s second government-sponsored human spaceflight since Rakesh Sharma’s historic flight in 1984.

    In a video message shared by Axiom Space, Shukla expressed his excitement about the opportunity, recalling how he was inspired by India’s first astronaut, Wing Commander Rakesh Sharma. He also revealed that he learned about his selection just a week before reporting for training.

    Earlier, SpaceX Vice President of Build and Flight Reliability, William Gerstenmaier, emphasized safety improvements in the Dragon capsule used for this mission, noting design changes to propulsion components to enhance reliability for human spaceflight.

    Notably, SpaceX is on track for a record-breaking year, with around 100 launches remaining to reach its ambitious target of 170 orbital missions in 2025.

    -ANI

  • Indian corporates to double capital spending to $800-$850 billion over next 5 years

    Source: Government of India

    Source: Government of India (4)

    Indian corporates are projected to double their capital spending to $800 billion-$850 billion over the next five years, which will be largely financed by operating cash flows and facilitated by ample domestic funding options, said an S&P Global Ratings report on Tuesday.

    Barring execution mistakes or negative macro changes, these investments should boost business scale without driving up leverage, the report noted.

    “Corporate India is chasing growth opportunities. In our view, Indian companies are well positioned for a growth run. Balance sheets are the leanest they’ve been in years. Companies are investing to meet demand underpinned by favourable government policies and a positive economic outlook,” according to the credit rating agency.

    Successful execution of plans would enlarge their operational scale, providing lasting cost benefits and business efficiencies.

    Higher investments in power, particularly renewables, will be a major spending area. Power, including transmission, combined with airlines, and emerging areas like green hydrogen, will (by estimates) account for about three-quarters of the increase in capex over the next five years.

    “In absolute terms, investments in airports could double, or even triple during this period. Conventional sectors such as steel, cement, oil and gas, telecom and autos will grow at a more steady pace of 30-40 per cent,” said the report.

    Healthy starting points and strong operating cash flows will keep credit strains in check. Companies across sectors have deleveraged meaningfully over the past three to four years including utilities (except renewables).

    Earnings and operating cash flow across sectors are about 60 per cent higher or double the levels from five years back, and will grow further, the report noted.

    In the airlines sector, total investment in new aircrafts will likely exceed $100 billion.

    New areas such as green hydrogen, semiconductors and battery plants should see significant debt funding. However, these projects are undertaken predominantly by large companies, including conglomerates, the report noted.

    (IANS)

  • Frederick Forsyth, ‘Day of the Jackal’ author, dies at 86

    Source: Government of India

    Source: Government of India (4)

    British novelist Frederick Forsyth, who authored best-selling thrillers such as “The Day of the Jackal” and “The Dogs of War,” has died aged 86, his publisher said.

    A former correspondent for Reuters and the BBC, and an informant for Britain’s MI6 foreign spy agency, Forsyth made his name by using his experiences as a reporter in Paris to pen the story of a failed assassination plot on Charles de Gaulle.

    “The Day of the Jackal”, in which an English assassin, played in the film by Edward Fox, is hired by French paramilitaries angry at de Gaulle’s withdrawal from Algeria, was published in 1971 after Forsyth found himself penniless in London.

    Written in just 35 days, the book was rejected by a host of publishers who worried that the story was flawed and would not sell as de Gaulle had not been assassinated. De Gaulle died in 1970 from a ruptured aorta while playing Solitaire.

    But Forsyth’s hurricane-paced thriller complete with journalistic-style detail and brutal sub-plots of lust, betrayal and murder was an instant hit. The once poor journalist became a wealthy writer of fiction.

    “I never intended to be a writer at all,” Forsyth later wrote in his memoire, “The Outsider – My Life in Intrigue”. “After all, writers are odd creatures, and if they try to make a living at it, even more so.”

    So influential was the novel that Venezuelan militant revolutionary Illich Ramirez Sanchez, was dubbed “Carlos the Jackal”.

    Forsyth presented himself as a cross between Ernest Hemingway and John le Carre – both action man and Cold War spy – but delighted in turning around the insult that he was a literary lightweight.

    “I am lightweight but popular. My books sell,” he once said.

    His books, fantastical plots that almost rejoiced in the cynicism of an underworld of spies, criminals, hackers and killers, sold more than 75 million copies.

    Behind the swashbuckling bravado, though, there were hints of sadness. He later spoke of turning inwards to his imagination as a lonely only child during and after World War Two.

    The isolated Forsyth discovered a talent for languages: he claimed to be a native French speaker by the age of 12 and a native German speaker by the age of 16, largely due to exchanges.

    He went to Tonbridge School, one of England’s ancient fee-paying schools, and learned Russian from two emigre Georgian princesses in Paris. He added Spanish by the age of 18.

    He also learned to fly and did his national service in the Royal Air Force where he flew fighters such as a single seater version of the de Havilland Vampire.

    THE REPORTER

    Impressing Reuters’ editors with his languages and knowledge that Bujumbura was a city in Burundi, he was offered a job at the news agency in 1961 and sent to Paris and then East Berlin where the Stasi secret police kept close tabs on him.

    He left Reuters for the BBC but soon became disillusioned by its bureaucracy and what he saw as the corporation’s failure to cover Nigeria properly due to the government’s incompetent post-colonial views on Africa.

    It was in 1968 that Forsyth was approached by the Secret Intelligence Service, known as MI6, and asked by an officer named “Ronnie” to inform on what was really going on in Biafra.

    By his own account, he would keep contacts with the MI6, which he called “the Firm”, for many years. His novels showed extensive knowledge of the world of spies and he even edited out bits of The Fourth Protocol (1984), he said, so that militants would not know how to detonate an atomic bomb.

    His writing was sometimes cruel, such as when the Jackal kills his lover after she discovers he is an assassin.

    “He looked down at her, and for the first time she noticed that the grey flecks in his eyes had spread and clouded over the whole expression, which had become dead and lifeless like a machine staring down at her.”

    THE WRITER

    After finally finding a publisher for “The Day of the Jackal,” he was offered a three-novel contract by Harold Harris of Hutchinson.

    Next came “The Odessa File” in 1972, the story of a young German freelance journalist who tries to track down SS man Eduard Roschmann, or “The Butcher of Riga”.

    After that, “The Dogs of War” in 1974 is about a group of white mercenaries hired by a British mining magnate to kill the mad dictator of an African republic – based on Equatorial Guinea’s Francisco Macias Nguema – and replace him with a puppet.

    The New York Times said at the time that the novel was “pitched at the level of a suburban Saturday night movie audience” and that it was “informed with a kind of post‐imperial condescension toward the black man”.

    Divorced from Carole Cunningham in 1988, he married Sandy Molloy in 1994. But he lost a fortune in an investment scam and had to write more novels to support himself. He had two sons – Stuart and Shane – with his first wife.

    His later novels variously cast hackers, Russians, al Qaeda militants and cocaine smugglers against the forces of good – broadly Britain and the West. But the novels never quite reached the level of the Jackal.

    A supporter of the United Kingdom’s exit from the European Union, Forsyth scolded Britain’s elites for what he cast as their treachery and naivety.

    In columns for The Daily Express, he gave a host of withering assessments of the modern world from an intellectual right-wing perspective.

    The world, he said, worried too much about “the oriental pandemic” (known to most as COVID-19), Donald Trump was “deranged”, Vladimir Putin “a tyrant” and “liberal luvvies of the West” were wrong on most things.

    He was, to the end, a reporter who wrote novels.

    “In a world that increasingly obsesses over the gods of power, money and fame, a journalist and a writer must remain detached,” he wrote. “It is our job to hold power to account.”

    (Reuters)

  • Air Chief Marshal AP Singh wishes Group Captain Shubahanshu Shukla ahead of Axiom-4 space mission

    Source: Government of India

    Source: Government of India (4)

    Chief of the Air Staff, Air Chief Marshal AP Singh, on Tuesday interacted via video conference with Group Captain Shubhanshu Shukla, who is set to embark on the Axiom-4 space mission, an official statement from the Indian Air Force said.

    Air Chief Marshal Singh extended best wishes to Group Captain Shukla, who will be India’s second astronaut to travel to space since 1984.

    In a post on X, IAF said, “As Group Captain Shubahanshu Shukla prepares to embark on the Axiom-4 space mission tomorrow, Chief of the Air Staff and all Air Warriors of IAF wish him and the entire crew of Axiom-4 all the best for a safe and successful trip to the International Space Station. This will add a new chapter to the Indian Space Odyssey”.

    The Axiom-4 mission, originally scheduled for launch on June 10, was postponed due to unfavorable weather and is now set for 5:30 PM IST on June 11. The mission will carry Shukla to the International Space Station (ISS). The crew includes members from India, Poland, and Hungary, marking each nation’s first mission to the ISS. According to Axiom Space, this will be India’s second government-sponsored human spaceflight since Rakesh Sharma’s historic flight in 1984.

    In a video message shared by Axiom Space, Shukla expressed his excitement about the opportunity, recalling how he was inspired by India’s first astronaut, Wing Commander Rakesh Sharma. He also revealed that he learned about his selection just a week before reporting for training.

    Earlier, SpaceX Vice President of Build and Flight Reliability, William Gerstenmaier, emphasized safety improvements in the Dragon capsule used for this mission, noting design changes to propulsion components to enhance reliability for human spaceflight.

    Notably, SpaceX is on track for a record-breaking year, with around 100 launches remaining to reach its ambitious target of 170 orbital missions in 2025.

    -ANI

  • MIL-OSI: Revolutionizing Trade Intelligence: Market Inside Unveils Advanced Analytics Dashboard

    Source: GlobeNewswire (MIL-OSI)

    YORK, United Kingdom and LONDON, June 10, 2025 (GLOBE NEWSWIRE) — Market Inside, a global leader in trade intelligence solutions, has launched three brand-new features under its Advanced Analytics Dashboard, designed to take the stress out of working with trade data. With three new features – “Universal Search”, “All Overview”, and “Custom Sorting” – the dashboard gives users a powerful way to understand global markets.

    Explore The New Features Built For Real Trade Challenges

    These tools don’t just add data – they reduce your effort and increase your confidence.

    Universal Search

    All Markets, All Insights – At a Glance

    With Universal Search, all the country data in your plan comes together in one place – no back-and-forth.

    Let’s say you’re tracking machinery exports from China and want to compare them with India and Vietnam. Instead of opening three separate reports, you get a single, clear view that shows it all side by side.

    All Overview

    Spot Untapped Potential Beyond Your Plan

    Not sure which countries might be relevant for your product?

    All Overview gives you a quick, clear snapshot of product activity across all countries, so you can easily spot where the action is and decide which new markets are truly worth exploring.

    It’s like your personal trade preview tool – offering just the right amount of insight to help you make smart, confident, and data-driven decisions.

    Custom Sorting

    Custom Views for Faster, Sharper Insights

    Digging through messy data when you need fast answers is frustrating. That’s why we built Custom Sorting – so you can organize your trade data exactly the way you work.

    Imagine you’re researching electronics shipments. With one click, sort records by HS code to group similar products, then reorder by country to see which markets lead in exports. Next, sort by date to spot rising trends over the last quarter – all without scrolling through hundreds of lines.

    Time to Experience the Next-Gen Dashboard!

    Explore these features today at Market Inside.

    About Market Inside:

    Market Inside is a trusted global trade data platform helping businesses unlock valuable insights from import-export information. Covering more than 195 countries, we serve global companies, small businesses, and trade professionals who rely on data that drives real growth and smart decisions.

    A photo accompanying this announcement is available at https://www.globenewswire.com/NewsRoom/AttachmentNg/5a3cf892-d23f-4867-9502-eb983815ee2c

    The MIL Network –

  • MIL-OSI New Zealand: More funding to grow international tourism

    Source: New Zealand Government

    The Government is increasing funding for attracting overseas visitors and investing in tourism infrastructure as part of its new Tourism Growth Roadmap, Tourism and Hospitality Minister Louise Upston says.
    “We’re investing $35 million to deliver the first stage of the Roadmap, which sets out the Government’s plan to double the value of tourism,” Louise Upston says.
    “International visitors bring billions of dollars into New Zealand, from big ticket spends to everyday purchases in local cafes and accommodation. 
    “We want to welcome more visitors to New Zealand, and we want our regional communities to improve their capacity to look after those visitors.
    “The Government must work with industry to unlock the full potential of our tourism sector, and the Roadmap lays out initiatives and investments to ensure our infrastructure, workforce and communities can support further growth.
    “For the 2025/26 financial year, we’re investing $6 million in international marketing across emerging tourism markets, $3 million to increase the number of business events hosted in New Zealand, and an additional $5 million towards the Major Events Fund.
    “These commitments follow the recent announcements of $13.5 million invested in international tourism marketing and $4 million of investment towards improving the visitor experience along the Milford Road corridor.
    “Recent tourism funding has been about boosting visitor numbers. As those higher numbers become established, the Roadmap will shift over time to focus more on supporting communities to look after them well,” Louise Upston says. 
    This investment comes from the International Visitor Conservation and Tourism Levy. This levy is charged to most international visitors, and ensures they are contributing to the public services, facilities and natural environment they will enjoy while in New Zealand.
    More information can be found on the MBIE website.
    Notes to editor: 
    The Tourism Growth Roadmap is attached as a separate document.
    New tourism investments for the 2025/26 financial year include:

    $6 million in Tourism New Zealand’s marketing in the emerging markets of India and Southeast Asia,
    $3 million to increase the number of business events hosted in New Zealand, as part of Tourism New Zealand’s collaboration with Business Events Industry Aotearoa,
    An additional $5 million towards the Major Events Fund,
    $13.5 million in Tourism New Zealand’s marketing in core markets of Australia, the United States and China,
    $4 million towards a wider package of work to improve visitor experiences and reduce congestion along the Milford Road corridor. 

    MIL OSI New Zealand News –

  • MIL-OSI New Zealand: Tourism Growth Roadmap speech to Business Events Industry Aotearoa (BEIA)

    Source: New Zealand Government

    Tēnā koutou katoa. Thank you for the warm welcome. It is my pleasure to welcome you all to MEETINGS 2025.

    First, I would like to acknowledge Mayor Wayne Brown attending MEETINGS 2025 today and a special acknowledgment to Ngāti Whatua Orakei for their pōwhiri and welcome. 

    I would also like to recognise Tataki Auckland Unlimited and in particular the Auckland Convention Bureau for their dedication and hard work advocating for Auckland as a world-class visitor destination.

    Last but not the least, I’d like to extend a heartfelt thank you to some incredible individuals who make events like this possible, a huge thank you again to BEIA Chief Executive Lisa Hopkins and Board Chair Martin Snedden.

    Your leadership across the business events in New Zealand and creating such vibrant and energetic gatherings like MEETINGS 2025 are truly appreciated and make a difference to New Zealand.

    To our local and international buyers, exhibitors and media – thank you for making the journey from around the world to join us in Auckland. 

    Events like MEETINGS are so important for bringing incredible opportunities to our regions, building valuable connections with our offshore markets and strengthening our business events sector.

    There is no doubt that New Zealand’s business events industry is on the rise – and that’s thanks to the fantastic organisations and individuals like you in this room today. 

    You are the driving force behind a growing pipeline of high-value deals across sectors. These opportunities are helping boost productivity, support local communities, and grow our regions.

    Together, we are putting New Zealand as a top place to do business – and the conversations and connections you make over the next few days will help us even further.

    Events like this are a powerful reminder of what it takes to deliver world-class experiences – whether its state-of-the-art venues, exceptional food and catering, smooth logistics, or engaging content. 

    Beyond their direct economic benefits, business events connect us, foster new ideas and drive innovation across industries. I want to acknowledge the vital role you all play – not just as the professionals of tourism and hospitality, but as ambassadors of New Zealand.

    Your commitment lay the foundation for successful events and help position our country as a world leader in the excellence we are known for.

    Increasing tourism and creating a strong economy is a key focus for the next few years, and the economic contribution of the business events sector is a critical element to success. 

    Business events punch well above their weight in attracting high-value international conferences to our regions and main centres throughout the year, and MEETINGS is a prime example of this. 

    I hope you enjoy your Auckland experience and participate in the amazing visitor experience while you are here. 

    As Minister for Tourism and Hospitality, I have two priorities for the portfolio. 

    My first priority is to grow international tourism by both increasing the number of international visitors to New Zealand in the short term, and doubling the value of tourism exports by 2034.

    My second priority is to grow the number of Kiwis in tourism and hospitality jobs which will further support our wider economic growth objectives.

    Our business events sector plays a huge role in showcasing New Zealand as a progressive, entrepreneurial destination and will play a significant role in achieving our goal of doubling tourism exports. 

    Business event participants spend an average of $175 more per day than other visitors, and importantly, often visit in the off-peak period between March and November, boosting tourism and economic activity year-round. This is exactly why we are making positive changes to support its growth.

    In April, alongside the Minister of Health and the Minister for Regulation, I was thrilled to announce a change to the Medicines Act. The change will allow for medicines to be advertised that have not yet been consented by Medsafe at medical conferences in New Zealand. 

    This shift removes a long-standing barrier and opens the door to hosting more international medical conferences and trade shows, unlocking an estimated $90 million in future revenue. 

    On top of that, we’re continuously working to attract high-value incentive business to New Zealand. It’s all part of our effort to make our country a go-to place for significant business events.

    As part of my Tourism Boost package, I provided $3 million to Tourism New Zealand to make an additional 15-20 bids for business events in 2026 and beyond through its existing Conference Assistance Programme. 

    This investment has already supported Tourism New Zealand to win three bids valued at $7.5 million.

    Our message is clear, New Zealand is open for business. We are looking forward to welcoming more business events and conferences to New Zealand and hosting them in our great facilities.

    Tourism is our second largest export earner and a crucial component of our workforce, and we cannot understate the benefits it provides to our country.

    We’re committed to continue growing the sector, which is why today, I am announcing the launch of the Tourism Growth Roadmap. The Roadmap follows my recent Tourism Boost package and is the second step towards doubling our tourism export value by 2034.

    The final Roadmap has been carefully developed based on the conversations I have had with industry leaders since taking over the portfolio and reflects what I’ve heard is important to you. 

    The first package of investment will continue to prioritise increasing international visitor volumes, with around 80 per cent of the investment going towards demand initiatives and 20 per cent towards supply initiatives.

    I am also announcing a $35 million investment from the International Visitor Conservation and Tourism Levy to deliver the first stage of the Roadmap.

    Yesterday, the Prime Minister and I announced $13.5 million in new funding to Tourism New Zealand to uplift marketing activity in our core markets of Australia, the United States and China. 

    This investment is expected to generate around $300 million in spending and deliver an extra 72,000 international visitors to our shores.

    These are big numbers, but this is only part of the full $35 million package we’re unveiling today.

    I am also committing a further $6 million in new funding to uplift marketing activity in our emerging markets of India and Southeast Asia. 

    We know that Tourism New Zealand does an important job of marketing our country internationally, acting as the primary influence for approximately 14 per cent of international holiday visitors. I expect these investments to result in almost $360 million in incremental visitor spend in the economy.

    As I have been saying today, I see the business events sector as an incredibly valuable visitor market for supporting tourism growth.

    That is why I’m thrilled to announce I am committing an additional $3 million to Tourism New Zealand to boost business events attraction for a further year. This reinforces the important role that all of you play, and I am excited to see the positive outcomes from this investment. 

    I am also providing a $5 million boost for major events attraction. Major events drive economic benefits to New Zealand through international visitation and additional direct spend in the host region. 

    To complement these demand initiatives, I am investing in specific regional tourism infrastructure projects. 

    Last week, alongside Minister Potaka, I announced $4 million to improve visitor experiences along the Milford Road corridor. This investment is co-funded and will be delivered by the Department of Conservation.

    As you all know, Milford Sound Piopiotahi is one of our most iconic destinations and a huge drawcard for international visitors. This investment will support improved visitor experiences, infrastructure and reduced congestion. 

    We have an enormous opportunity on our hands. 

    Tourism has the potential to become our biggest export earner – we’ve done it before, and I believe we can do it again. It will take significant effort from us all, and the industry is united with shared purpose, aspirations, and enthusiasm.

    Achieving this will require action on the supply-side and I have asked my officials to begin a review of our tourism system to support this. This includes looking at issues surrounding our workforce:

    • data
    • infrastructure
    • funding
    • our regions and communities
    • aviation and cruise connectivity
    • and the overall visitor experience that we offer.

    We’re looking at what is working well and what do we need to change to ensure we are fit for the future.

    The key to our success will be working together.

    There is plenty of work to do and I am excited to continue working alongside the tourism and hospitality sector to build on the incredible foundations already in place. 

    Ladies and Gentlemen, the next few days are packed with opportunities. 

    New Zealand is open for business, and we welcome the opportunity to attract more business, exhibition and incentive travellers to New Zealand and grow our economy. Together, let’s maximise the value tourism brings to our beautiful country!

    Thank you again.

    MIL OSI New Zealand News –

  • MIL-OSI: Dai-ichi Life Group and Capgemini sign multi-year agreement to establish a Global Capability Center in India to drive international digital transformation

    Source: GlobeNewswire (MIL-OSI)

    Press contact:
    Pek Kee Sum
    Tel.: +65 89 40 71 98
    E-mail: pek-kee.sum@capgemini.com

    Dai-ichi Life Group and Capgemini sign multi-year agreement to establish a Global Capability Center in India to drive international digital transformation

    Singapore, June 10, 2025 – Capgemini and Dai-ichi Life Holdings, today announced the signing of a multi-year agreement to establish a Global Capability Center (GCC) in India.

    This landmark agreement is poised to accelerate Dai-ichi Life Group’s digital transformation globally. The GCC aims to tap into India’s deep pool of skilled professionals to support and enhance its IT and digital strategies. As a result, Dai-ichi Life Group’s goal is to significantly strengthen its in-house digital capabilities and technology platforms, driving innovation and operational efficiency on a global scale.

    This strategic collaboration with Capgemini, which initially spans Japan, the United States, and Australia, will leverage a broad spectrum of the GCC’s digital capabilities including advanced software development, infrastructure modernization, AI & data solutions, and robust cybersecurity measures. It is designed with the flexibility to expand into other countries based on market needs and potential, to support the global ambitions of Dai-ichi Life Group.

    “This strategic partnership with Capgemini supports our long-term ambition to build differentiated, internal capabilities through the establishment of our Global Capability Center,” said Tetsuya Kikuta, President and CEO at Dai-ichi Life Holdings. “By adopting a Build-Operate-Transfer model, we are not only accelerating our digital transformation but also laying the foundation for in-house expertise in critical areas such as AI, data, and cybersecurity. This approach sets us apart and strengthens our ability to deliver innovative, high-impact solutions across the Dai-ichi Life Group.”

    Capgemini will bring its end-to-end capabilities at scale, including its strong presence and delivery track record in Japan, the Asia Pacific region and globally, to enable Dai-ichi Life Group’s transformation agenda. The partnership will focus on co-innovating solutions that streamline operations, harness the power of data analytics and artificial intelligence, and fortify cybersecurity defenses, all while helping to ensure a seamless and enhanced experience for Dai-ichi Life Group’s customers.

    “This strategic collaboration with Dai-ichi Life Group, a distinguished leader in the insurance sector, comes at a crucial time for the industry. Today, customer service remains one of the most powerful tools for encouraging loyalty and shaping brand perception, and this is increasingly enabled through technology,” said Aiman Ezzat, Chief Executive Officer at Capgemini. “This partnership is built on a shared vision to leverage technology and innovation to not only meet but exceed consumer expectations. By combining Dai-ichi Life’s deep industry knowledge with Capgemini’s global business and technology transformation expertise, including our proven ability to deliver complex solutions, our partnership will help unlock new value for the Dai-ichi Life Group and set new benchmarks in customer service and operational efficiency.”

    About Capgemini
    Capgemini is a global business and technology transformation partner, helping organizations to accelerate their dual transition to a digital and sustainable world, while creating tangible impact for enterprises and society. It is a responsible and diverse group of 340,000 team members in more than 50 countries. With its strong over 55-year heritage, Capgemini is trusted by its clients to unlock the value of technology to address the entire breadth of their business needs. It delivers end-to-end services and solutions leveraging strengths from strategy and design to engineering, all fueled by its market leading capabilities in AI, generative AI, cloud and data, combined with its deep industry expertise and partner ecosystem. The Group reported 2024 global revenues of €22.1 billion.
    Get The Future You Want | www.capgemini.com

    About Dai-ichi Life Group
    Dai-ichi Life Group was founded in 1902 as Japan’s first mutual life insurance company. It became a joint-stock company and was listed on the stock exchange in 2010, before transitioning to a holding company structure in 2016. The Group has since expanded its operations globally, including across the Asia-Pacific region and North America, and now serves over 50 million customers while managing approximately USD 430 billion in consolidated assets. Our IT and Digital strategies enable us to innovate, improve efficiency, and enhance customer experience, while driving long-term growth and sustainability.
    By your side, for life | www.dai-ichi-life-hd.com

    Attachment

    The MIL Network –

  • Making India stronger: PM Modi highlights 11 years of defence reforms, self-reliance

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Tuesday hailed the remarkable strides made by India’s defence sector over the past 11 years, underlining the twin focus on modernisation and self-reliance.

    In a post on X, the Prime Minister said, “The last 11 years have marked significant changes in our defence sector, with a clear focus on both modernisation and becoming self reliant when it comes to defence production. It is gladdening to see how the people of India have come together with the resolve of making India stronger! #11YearsOfRakshaShakti”.

    The post was part of a broader national campaign highlighting the transformation of India’s defence capabilities since 2014, coinciding with the beginning of PM Modi’s first term as the Prime Minister.

    From being heavily import-dependent to becoming a notable arms exporter, India’s defence journey has seen a fundamental shift.

    The Ministry of Defence and senior officials echoed the Prime Minister’s sentiment, praising the nation’s move towards indigenisation and innovation.

    The Ministry of Defence elaborated on this transformation in a post on X: “Over the past 11 years, under PM Narendra Modi’s visionary leadership, India’s defence sector has transformed from import-dependent to a global exporter, powered by Aatmanirbhar Bharat & Make In India. Indigenous innovations like Brahmos missile & advanced submarines have fortified our security and global standing. Defence exports now reach 100+ countries, marking a historic rise in self-reliance. As we celebrate 11 Years Of Raksha Shakti, we salute the strides toward a safer, stronger India.”

    Key milestones during this period include the record growth in defence exports, which have surpassed Rs 21,000 crore in recent years, the successful deployment of the BrahMos supersonic cruise missile, the commissioning of indigenous aircraft carriers like INS Vikrant, and the development of homegrown fighter jets like the HAL Tejas.

    The celebration of ’11 Years of Raksha Shakti’ underscores the government’s emphasis on reducing dependency on foreign suppliers and promoting indigenous defence production under flagship initiatives like Aatmanirbhar Bharat and Make in India.

    (With inputs from IANS)

  • MIL-OSI Banking: Result of the Daily Variable Rate Repo (VRR) auction held on June 10, 2025

    Source: Reserve Bank of India

    Tenor 1-day
    Notified Amount (in ₹ crore) 25,000
    Total amount of bids received (in ₹ crore) 3,853
    Amount allotted (in ₹ crore) 3,853
    Cut off Rate (%) 5.51
    Weighted Average Rate (%) 5.51
    Partial Allotment Percentage of bids received at cut off rate (%) NA

    Ajit Prasad          
    Deputy General Manager
    (Communications)    

    Press Release: 2025-2026/518

    MIL OSI Global Banks –

  • Russia’s latest drone strikes hit Kyiv, maternity ward in Odesa, Ukraine says

    Source: Government of India

    Source: Government of India (4)

    Russia launched another prolonged drone attack on Ukraine, killing one person and damaging swathes of Kyiv as well as striking a maternity ward in the southern port of Odesa, regional officials said early on Tuesday.

    The overnight strikes followed Russia’s biggest drone assault on Ukraine on Monday – part of stepped-up operations that Moscow said were retaliatory measures for Kyiv’s recent brazen attacks in Russia.

    At least four people were hospitalised as a result of the hours-long attacks that hit seven of the city’s 10 districts, city officials said.

    “You can’t break Ukrainians with terror,” Andriy Yermak, President Volodymyr Zelenskiy’s chief of staff, said in a Telegram post after the attacks.

    Air raid alerts in Kyiv and most Ukrainian regions lasted five hours until around 5 a.m. (0200 GMT), according to military data.

    “A difficult night for all of us,” Timur Tkachenko, head of Kyiv’s military district, said on Telegram. “Throughout the night, the enemy relentlessly terrorized Kyiv with attack drones. They targeted civilian infrastructure and peaceful residents of the city.”

    The attack sparked fires in residential and non-residential neighbourhoods and open space areas, city officials said. Reuters’ witnesses heard and saw countless loud explosions shaking the city and lighting the night sky.

    Photos and videos posted on Telegram channels showed heavy smoke rising in the darkness in different parts of Kyiv. The scale of the attack was not immediately known.

    Moscow has dramatically increased the pace of its attacks on Ukraine following Kyiv’s strikes on strategic bombers at air bases inside Russia on June 1. Moscow also blamed Kyiv for bridge explosions on the same day that killed seven and injured scores.

    The attacks come despite pressure from U.S. President Donald Trump on both sides to move towards a resolution on the war. Moscow and Kyiv returned to negotiations for the first time in more than three years, but outside an agreement on the exchange of war prisoners, there has been no tangible progress.

    In addition to swarms of drones and missiles launched in recent days, Russia has also been advancing further on the ground along the frontline in eastern Ukraine, claiming on Tuesday to take more territory there.

    In the southern port of Odesa, a “massive” overnight drone attack targeted an emergency medical building and a maternity ward, as well as residential buildings, Oleh Kiper, governor of the broader Odesa region, said on Telegram.

    A 59-year-old man was killed in the attack on a residential area, and four people were injured, but patients and staff were safely evacuated from the maternity hospital, Kiper said.

    He posted photos of broken windows in what looked like a medical facility and of damage to the facade of several buildings.

    Both sides deny targeting civilians in the war. But thousands of civilians have been killed in the conflict, the vast majority of them Ukrainian.

    (Reuters)

  • Market trade flat after early gains; US-China talks in focus

    Source: Government of India

    Source: Government of India (4)

    Equity benchmarks opened higher on Tuesday, extending their winning streak for a fifth consecutive session, but pared early gains to trade largely flat as investors awaited the outcome of key US-China talks.

    At 9:17 a.m., the BSE Sensex was up 28.49 points or 0.03% at 82,473.70, while the NSE Nifty rose 21.15 points or 0.08% to 25,124.35.

    Technology, metal, and media stocks led sectoral gains, while banking counters witnessed mild selling pressure amid profit booking. Broader markets outperformed, with both midcap and smallcap indices rising up to 0.5%, reflecting broader participation.

    Akshay Chinchalkar, Head of Research at Axis Securities, said Monday’s performance was a continuation of Friday’s breakout. “Whether the index is breaking out of a pennant or a rectangle pattern, the implication is bullish with a target of 25,800. The 25,200 level is crucial on the upside, and as long as the index holds above 24,800, the momentum remains with the bulls,” he said, adding that the outcome of US-China talks could be the next major trigger.

    Vikram Kasat, Head of Advisory at PL Capital, said while efforts to ease tensions between the US and China are welcome, a comprehensive deal could take longer to materialise. “Investors are also eyeing progress on agreements with other trading partners,” he added.

    Analysts noted that with valuations stretched after the recent rally, selective profit booking may be prudent to guard against potential volatility.

    Globally, Wall Street ended marginally higher on Monday, supported by gains in Amazon and Alphabet, as markets closely monitored developments in US-China negotiations. Asian shares also edged up on hopes of a positive outcome.

    On the institutional front, foreign institutional investors (FIIs) continued to support the market, buying equities worth ₹1,992 crore on Monday. Domestic institutional investors (DIIs) were net buyers for the 15th straight session, purchasing stocks worth ₹3,503 crore.

    — IANS

  • India’s youth driving innovation and nation-building: Speaker Om Birla at IIT Jodhpur

    Source: Government of India

    Source: Government of India (4)

    Lok Sabha Speaker Om Birla on Monday emphasized the pivotal role of Indian youth in shaping the nation’s progress, stating that India is emerging as a global leader in addressing contemporary challenges through the strength of its young talent and technological innovation.

    Speaking at the Indian Institute of Technology (IIT), Jodhpur, Birla lauded the contribution of India’s youth in propelling social, economic, and technological advancement, and urged them to continue harnessing cutting-edge technology for the betterment of the nation.

    Birla noted that the youth of India are increasingly transitioning from job seekers to job creators, with IITs playing a crucial role in this transformation. “Graduates from IITs have significantly contributed to strengthening the country’s startup ecosystem and economic development,” he said.

    Birla added that the global demand for skilled and innovative Indian youth is a testament to their growing impact, and encouraged them to become active stakeholders in the journey towards a Viksit Bharat.

    During his visit, the Lok Sabha Speaker inaugurated the state-of-the-art Lecture Hall Complex – II at IIT Jodhpur. He emphasized the importance of integrating modern scientific advancements with India’s rich spiritual heritage, stating that this balanced approach promotes ethical, inclusive, and sustainable growth. “India is moving forward by combining its scientific capabilities with spiritual wisdom, charting a path toward holistic national advancement,” Birla said.

    The LS Speaker also highlighted India’s strides in achieving self-reliance across various sectors — from manufacturing toys to producing defence equipment — and said that the country’s robust digital ecosystem has further fueled the vision of Atmanirbhar Bharat.

    Praising the contribution of IITs in advancing technical education, Birla asserted that every college and university in India should strive to become a hub of innovation and excellence. He called upon higher education institutions to move beyond conventional teaching and foster creativity, research, entrepreneurship, and industry collaboration to drive India’s growth in science and technology.

    “IIT students have enhanced India’s global stature by combining modern technology with Indian thinking and a fresh perspective,” he noted. Birla added that academic spaces should evolve into dynamic ecosystems where ideas are nurtured, talents are shaped, and future leaders are created.

    Referring to IIT Jodhpur’s transformative journey, Birla commended the institute for its pioneering role in global research, innovation, and cultivating scientific temper. He praised the efforts of Director Prof. Avinash K. Agarwal and the institute’s contributions in areas like defence technology and sustainable development in line with the vision of Viksit Bharat 2047.

    Despite being located in a geographically challenging region, the institute has emerged as a beacon of progress, empowering young minds with access to world-class education and innovative thinking, Birla added.

    Birla also distributed ‘Research Initiative Grants’ to support innovation-related projects at the institute. Additionally, he launched IIT Jodhpur’s new official website and planted a sapling on the campus as a symbolic gesture of sustainable growth.

  • 15 states sue over Trump move to return seized rapid-fire devices for guns

    Source: Government of India

    Source: Government of India (4)

    Fifteen Democratic-led U.S. states filed a lawsuit on Monday seeking to block Republican President Donald Trump’s administration from returning thousands of previously seized devices that can be used to convert semiautomatic rifles into weapons that can shoot as quickly as machine guns.

    The states filed the lawsuit in federal court in Baltimore in the wake of the administration’s May 16 settlement that resolved litigation involving a ban on certain “forced-reset triggers” imposed by the government under Trump’s Democratic predecessor Joe Biden. The states in the lawsuit said such devices remain illegal to possess under federal law.

    The Bureau of Alcohol, Tobacco, Firearms and Explosives under Biden issued the ban after it determined that some of these devices should be classified as illegal machine guns under a federal law called the National Firearms Act.

    “We will not stand by as the Trump administration attempts to secretly legalize machine guns in an effort to once again put firearms industry profits over the safety of our residents,” New Jersey Attorney General Matthew Platkin said in a statement.

    The lawsuit was led by New Jersey, Delaware and Maryland, and also included the states of Colorado, Hawaii, Illinois, Maine, Massachusetts, Michigan, Minnesota, Nevada, Oregon, Rhode Island, Vermont and Washington as well as the District of Columbia.

    The Trump administration’s settlement reversed course on the Biden administration’s policies.

    The settlement resolved lawsuits brought by a gun rights group challenging the ban and cases brought by Biden’s Justice Department against a manufacturer of the devices. Those cases had resulted in conflicting court rulings over the legality of classifying these devices as illegal machine guns.

    As part of the settlement, the Trump administration agreed to not apply the machine gun ban to such devices as long as they are not designed for use with handguns and agreed to return nearly 12,000 forced-reset triggers that had been seized by the government to their owners. The new lawsuit seeks to block the return of these devices to their owners.

    The states said conversion devices like forced reset triggers have been frequently used in recent years in violent crimes and mass shootings, and that at least 100,000 such devices that were distributed nationally in recent years should be considered illegal machine guns.

    The Justice Department did not immediately respond to a request for comment.

    (Reuters)

  • Apple opens its AI to developers but keeps its broader ambitions modest

    Source: Government of India

    Source: Government of India (4)

    Apple AAPL.O announced on Monday a slew of artificial intelligence features including opening up Apple Intelligence’s underlying technology in a modest update of its software and services as it lays the groundwork for future advances.

    The presentations at its annual Worldwide Developers Conference focused more on incremental developments, including live translations for phone calls, that improve everyday life rather than the sweeping ambitions for AI that Apple’s rivals are marketing.

    A year after it failed to deliver promised AI-based upgrades to key products such as Siri, Apple kept its AI promises to consumers low-key, communicating that it could help with tasks like finding where to buy a jacket similar to one they have seen online.

    Behind the scenes, Apple hinted at a strategy of offering its own tools to developers alongside those from rivals, similar to a strategy by Microsoft last month. Apple software chief Craig Federighi said the company will offer both its own and OpenAI’s code completion tools in its key Apple developer software and that the company is opening up the foundational AI model that it uses for some of its own features to third-party developers.

    “We’re opening up access for any app to tap directly into the on-device, large language model at the core of Apple,” Federighi said.

    In an early demonstration of this at work, the company added image generation from OpenAI’s ChatGPT to its Image Playground app, saying that user data would not be shared with OpenAI without a user’s permission.

    “You could see Apple’s priority is what they’re doing on the back-end, instead of what they’re doing at the front-end, which most people don’t really care about yet,” said Ben Bajarin, chief executive of analyst firm Creative Strategies.

    Apple is facing an unprecedented set of technical and regulatory challenges as it kicked off its software developer conference.

    Shares of Apple, which were flat before the start of the event, closed 1.2% lower on Monday.

    “In a moment in which the market questions Apple’s ability to take any sort of lead in the AI space, the announced features felt incremental at best,” Thomas Monteiro, senior analyst at Investing.com, said. Compared with what other big AI companies are introducing, he added, “It just seems that the clock is ticking faster every day for Apple.”

    That is a contrast to the ambitious vision laid out by Apple last year.

    “They went from being visionary and talking about agents before a lot of other people did, to now realizing that, at the end of the day, what they need to do is deliver on what they presented a year ago,” said Bob O’Donnell, chief analyst at Technalysis Research.

    Apple executives said that developers will have access only to Apple’s on-device version of Apple Intelligence, which does not tap into special data centers Apple built for its AI efforts. The on-device model is about 3 billion parameters, a measurement of the model’s level of sophistication, meaning that it cannot handle the more complex tasks that cloud-based models can.

    As Apple executives discussed new features at the event in Cupertino, California, OpenAI announced a new financial milestone on Monday, reaching $10 billion in annualized revenue run rate as of June.

    OS UPDATES

    Federighi also said Apple plans a design overhaul of all of its operating systems.

    Apple’s redesign of its operating systems centered on a design it calls “liquid glass” where icons and menus are partially transparent, a step Apple executives said was possible because of the more powerful custom chips in Apple devices versus a decade ago.

    Federighi said the new design will span operating systems for iPhones, Macs and other Apple products. He also said Apple’s operating systems will be given year names instead of sequential numbers for each version. That will unify naming conventions that have become confusing because Apple’s core operating systems for phones, watches and other devices kicked off at different times, resulting in a smattering of differently numbered operating systems for different products.

    Some analysts told Reuters that Apple’s decision to introduce familiar Mac capabilities, such as a multitasking interface and menu bar, to iPad could portend a shift in priorities around which devices it markets to consumers.

    In other new features, Apple introduced “Call Screening” where iPhones will automatically answer calls from an unknown number and ask the caller the purpose of their call. Once the caller states their purpose, the iPhone will show a transcription of the reason for the call, and ring for the owner.

    Apple also said it will add live translation to phone calls, as well as allow developers to integrate its live translation technology into their apps. Apple said the caller on the other end of the phone call will not need to have an iPhone for the live translation feature to work.

    Apple’s Visual Intelligence app – which can help users find a pair of shoes similar to ones at which they have pointed an iPhone camera – will be extended to analyzing items on the iPhone’s screen and linked together with apps. Apple gave an example of seeing a jacket online and using the feature to find a similar one for sale on an app already installed in the user’s iPhone.

    (Reuters)

  • India building alternative rare earth supply chain amid curbs China curbs: Piyush Goyal

    Source: Government of India

    Source: Government of India (4)

    Commerce and Industry Minister Piyush Goyal on Monday described China’s rare earth export restrictions as a global “wake-up call,” underscoring India’s efforts to build alternative supply chains and position itself as a reliable partner for international businesses seeking to reduce dependence on Chinese suppliers.

    Speaking to reporters during his official visit to Switzerland—where he met with Swiss government officials and business leaders—Goyal acknowledged that China’s export curbs would pose short-term challenges for India’s automotive and white goods sectors.

    However, he expressed confidence that collaborative efforts among the government, industry, and innovators would turn these challenges into long-term opportunities.

    The minister outlined a multi-pronged strategy to address the crisis. This includes diplomatic engagement through ongoing dialogue between the Indian embassy and Chinese authorities, as well as the commerce ministry’s push to identify alternative sources. The government is also strengthening Indian Rare Earths Limited by providing resources to accelerate domestic production.

    “This situation serves as a wake-up call for all those who have become over-reliant on certain geographies,” Goyal said. “It’s a wake-up call for the whole world—you need trusted partners in your supply chain.”

    India’s automotive industry has requested the government’s assistance in expediting the approval process for importing rare earth magnets from China—critical components used in passenger vehicles and various automotive applications.

    China currently controls over 90% of global magnet production capacity, creating substantial vulnerabilities across industries. These materials are essential to sectors ranging from automobiles and home appliances to clean energy systems.

    The new Chinese regulations, effective April 4, require special export licenses for seven rare earth elements and related magnetic products.

    “There are clearly issues around the suspension of permanent magnet supplies from China to India, which will particularly affect our auto sector and several white goods manufacturers,” Goyal explained. “Some companies have submitted their applications, and we hope pragmatic considerations will prevail, allowing them to receive the necessary approvals.”

    Asked about possible government support through production-linked incentive (PLI) schemes, Goyal shared that discussions with automotive manufacturers have been encouraging.

    The companies have expressed strong confidence in addressing supply chain challenges through partnerships with domestic innovators and startups.

    “They are actively engaging with our innovators and startups, indicating their willingness to provide funding or pricing adjustments to accelerate growth in this sector,” the minister said.

    Goyal also praised the evolving mindset of Indian industry, noting a shift away from reliance on government subsidies.

    “More and more Indian businesses are moving beyond the old belief that subsidies alone will sustain operations. They are becoming bigger and bolder in their approach,” he said.

    The minister highlighted emerging technologies being developed in India as potential alternatives to Chinese rare earth supplies.

    “There are some technologies that India is developing,” he noted, stressing the importance of the collaborative approach among government, industry, startups, and innovators. “We are all working as a team and remain confident that, while short-term challenges exist, we will emerge as winners in the medium to long term.”

    Goyal concluded by framing the current disruption as a strategic opportunity for India’s manufacturing ecosystem. He believes it will accelerate the push for self-reliance and the formation of trustworthy global supply chain partnerships.

    “There is opportunity even in this crisis,” he said. “More and more companies and people in India will realise the importance of being self-reliant and having trusted partners in supply chains. The world increasingly wants India to be a part of their supply chains, because we are seen as a trusted partner.”

    (ANI)

  • France, Brazil launch initiative to scale up ocean-focused climate action

    Source: Government of India

    Source: Government of India (4)

    On the first day of the third UN Ocean Conference (UNOC3), France and Brazil have launched a landmark international initiative to dramatically scale up ocean-focused climate action.

    The Blue Nationally Determined Contributions (NDC) Challenge calls on all countries to place the ocean at the heart of their climate plans ahead of UN Climate Change Conference (COP30) which Brazil will host in November this year.

    Alongside Brazil and France, an inaugural group of eight countries – Australia, Fiji, Kenya, Mexico, Palau, and Seychelles – has already joined the initiative, committing to include the ocean in their updated climate plans under the Paris Agreement.

    These plans represent the centrepiece of each country’s efforts to reduce emissions and limit warming to 1.5 degrees Celsius and build resilience, and represent the highest level of political will under the UN Framework Convention of Climate Change (UNFCCC).

    Launched on Monday, and building on the momentum this year brings as countries prepare to celebrate the 10th anniversary of the Paris Agreement, the Blue NDC Challenge underscores the urgent need to recognise the ocean’s central role in addressing the climate crisis as a key ally.

    The initiative is supported by Ocean Conservancy, the Ocean and Climate Platform, and the World Resources Institute through the Ocean Resilience and Climate Alliance (ORCA) and has been endorsed by WWF-Brazil.

    In addition to its forests, Brazil is also an oceanic nation, with 40 per cent of its territory located at sea and hosting marine ecosystems of global significance — including the only coral reefs in the South Atlantic and the world’s largest contiguous mangrove belt along the Amazon coast.

    These ecosystems play a vital role in both climate adaptation and mitigation, serving as natural buffers against extreme weather events and contributing to carbon storage.

    “For Brazil, the Blue NDC Challenge represents a key opportunity to strengthen ocean-related climate action and to emphasise the essential role of ocean-based solutions in achieving emission reduction targets. Through this initiative Brazil seeks to advance international cooperation on ocean climate action in the lead-up to COP30, and to underscore the need for all countries to fully integrate the ocean into their national climate strategies,” said Marina Silva, Brazil Minister for the Environment and Climate Change.

    “In its recently submitted NDC, Brazil has explicitly included, for the first time, ocean-based climate actions, recognising the ocean’s critical role in climate regulation. These include the implementation of national Marine Spatial Planning, the enhancement of coastal zone management, and the establishment of programs for the conservation and restoration of mangroves and coral reefs,” she noted.

    Governments joining the Blue NDCs Challenge commit to stepping up efforts to reduce emissions and build resilience through ocean-based solutions, while also delivering benefits for both nature and people.

    Under the leadership of the governments of Brazil and France, eight inaugural countries spanning the globe committed to include ocean action in their national climate plans.

    “Ultimately, industrial marine sectors and natural ecosystems are underused tools in addressing climate change and other development needs. As world leaders gather in Nice and prepare for the United Nations Climate Change Conference in Belem (COP30), they can take inspiration from the Seychelles in championing ocean-based climate action,” said Wavel Ramkalawan, the President of Seychelles.

    “We are pleased to join the Blue NDC Challenge and work alongside COP30 host, Brazil, as well as France, Fiji, Seychelles, Mexico, Palau to highlight the vital role of the ocean in global efforts on climate change,” said Senator Murray Watt, Australia’s Environment Minister.

    (IANS)