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Category: India

  • I have never seen anything quite like it: Former UK PM Rishi Sunak on IPL final atmosphere

    Source: Government of India

    Source: Government of India (4)

    Former UK Prime Minister Rishi Sunak and his wife, Akshata Murty, added a touch of star power to the Indian Premier League (IPL) 2025 final, as they were spotted in the stands of the Narendra Modi Stadium in Ahmedabad on Tuesday, cheering for Royal Challengers Bengaluru (RCB).

    The couple, known for their Bengaluru roots and love for cricket, joined the sea of red and gold in the grand finale against the Punjab Kings. Sunak was seen celebrating the wicket of Josh Inglis while sitting next to ICC Chairman Jay Shah.

    “This is unbelievable, the atmosphere is absolutely buzzing! It’s my first time at an IPL game in India, and I’ve never seen anything quite like it,” Sunak said in a brief on-ground interview after RCB wrapped up their innings.

    During the match, Sunak took to X to share a selfie with his wife, captioned: “Let’s go @RCBTweets.”

    RCB ended their 17-year title drought on Tuesday by winning their maiden Indian Premier League (IPL) trophy, defeating Punjab Kings by six runs in a thrilling final.

  • PM Modi to visit Jammu and Kashmir on June 6 to inaugurate major infra projects

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi will visit Jammu and Kashmir on June 6 to inaugurate several key infrastructure projects aimed at boosting connectivity and development in the region.

    During his visit, PM Modi will inaugurate the Chenab Bridge, the world’s highest railway arch bridge, situated 359 metres above the Chenab River. The 1,315-metre-long steel arch bridge is engineered to withstand seismic and wind forces and will cut travel time between Jammu and Srinagar by two to three hours when the new Vande Bharat trains operate on it.

    The Prime Minister will also inaugurate the Anji Bridge, India’s first cable-stayed rail bridge built in challenging terrain. Later, he will flag off Vande Bharat Express trains between Shri Mata Vaishno Devi Katra and Srinagar, enhancing travel options for residents, tourists, and pilgrims.

    The PM will dedicate the Udhampur-Srinagar-Baramulla Rail Link (USBRL) project to the nation. The 272-km rail link, completed at a cost of around ₹43,780 crore, features 36 tunnels spanning 119 km and 943 bridges, providing seamless all-weather rail connectivity to the Kashmir Valley.

    In addition to rail infrastructure, the Prime Minister will lay the foundation stone and inaugurate road projects to improve last-mile connectivity, particularly in border areas. These include the widening of the Rafiabad-Kupwara stretch on NH-701 and the construction of the Shopian bypass on NH-444, with a combined investment exceeding ₹1,952 crore.

    He will also inaugurate two flyovers at Sangrama Junction on NH-1 in Srinagar and Bemina Junction on NH-44 to ease traffic congestion.

    Further, PM Modi will lay the foundation stone of the Shri Mata Vaishno Devi Institute of Medical Excellence in Katra. The ₹350 crore project will be the first medical college in Reasi district, enhancing healthcare infrastructure in the region.

  • Iran’s Khamenei rejects US nuclear demand, vows to keep enriching uranium

    Source: Government of India

    Source: Government of India (4)

    Iran’s Supreme Leader Ayatollah Ali Khamenei said on Wednesday Tehran will not abandon its uranium enrichment, rejecting a key U.S. demand aimed at resolving a decades-long nuclear dispute, that he said was against the Islamic Republic’s interests.

    The U.S. proposal for a new nuclear deal was presented to Iran on Saturday by Oman, which has mediated talks between Iranian Foreign Minister Abbas Araqchi and President Donald Trump’s Middle East envoy, Steve Witkoff.

    After five round of talks, several hard-to-bridge issues remain, including Iran’s insistence on maintaining uranium enrichment on its soil and Tehran’s refusal to ship abroad its entire existing stockpile of highly enriched uranium – possible raw material for nuclear bombs.

    “Uranium enrichment is the key to our nuclear programme and the enemies have focused on the enrichment,” Khamenei said in a televised speech. The U.S. proposal “contradicts our nation’s belief in self-reliance and the principle of ‘We Can’,” he said.

    “The rude and arrogant leaders of America repeatedly demand that we should not have a nuclear programme. Who are you to decide whether Iran should have an enrichment?,” he added.

    Tehran says it wants to master nuclear technology for peaceful purposes and has long denied accusations by Western powers that it is seeking to develop nuclear weapons.

    On Monday, Reuters reported Tehran was poised to reject the U.S. proposal on the grounds that it was a “non-starter” that failed to soften Washington’s stance on uranium enrichment or to address Tehran’s interests.

    Trump has revived his “maximum pressure” campaign against Tehran since his return to the White House in January, which included tightening sanctions and threatening to bomb Iran if the negotiations yield no deal.

    During his first term in 2018, Trump ditched Tehran’s 2015 nuclear pact with six powers and reimposed sanctions that have crippled Iran’s economy. Iran responded by escalating enrichment far beyond the pact’s limits.

    Iran’s arch-foe Israel, which sees Iran’s nuclear programme as an existential threat, has repeatedly threatened to bomb the Islamic Republic’s nuclear facilities to prevent Tehran from acquiring nuclear weapons.

    (Reuters) 

  • Over 1.4 million pilgrims begin Hajj journey as Saudi Arabia implements unprecedented heat safety measures

    Source: Government of India

    Source: Government of India (4)

    The annual Hajj pilgrimage officially commenced today with over 1.4 million international pilgrims joining hundreds of thousands of domestic participants in Mecca, as Saudi authorities unveiled the most extensive safety preparations in the pilgrimage’s modern history to combat potentially deadly extreme heat.

    Pilgrims began streaming into the tent city of Mina early this morning to observe the Day of Tarwiyah, marking the formal start of one of the world’s largest religious gatherings. The sacred rites are expected to conclude around June 9, with the Day of Arafah anticipated tomorrow and Eid al-Adha celebrations beginning on June 6.

    The Indian Ambassador to Saudi Arabia issued a statement congratulating the thousands of Indian pilgrims participating this year, emphasizing that consular teams are coordinating closely with Saudi authorities and have established administrative and medical teams in all Mina camps. Indian pilgrims can access support through the “Hajj Suvidha” mobile application and dedicated toll-free numbers.

    Learning from last year’s tragic consequences when extreme temperatures contributed to over 1,300 deaths, Saudi authorities have deployed unprecedented resources for pilgrim safety. More than 400 high-powered cooling units have been installed at key ritual sites, while over 100,000 square meters of new shade structures have been erected in Mina and Arafat. Approximately 103,000 square meters of heat-reducing rubber flooring now cover pathways, designed to lower surface temperatures by 12 degrees Celsius.

    The kingdom has mobilized its largest-ever medical contingent, with the  Ministry of Health, announcing the deployment of 50,000 medical and administrative personnel. Over 700 hospital beds have been designated specifically for treating heat-related illnesses, supported by three field hospitals and 71 emergency response points. Healthcare capacity has increased by 60 percent compared to last year, with more than 98,000 medical services already delivered.

    Saudi authorities have implemented strict enforcement measures against unregistered pilgrims, imposing fines up to 5,000 dollars and potential deportation for anyone performing Hajj without proper permits. This applies to both foreign visitors and Saudi citizens or residents. The policy aims to ensure all pilgrims have proper access to shelter, water, and medical services during what meteorologists warn could be another dangerously hot pilgrimage season with temperatures potentially reaching or exceeding 50 degrees Celsius.

    Advanced technology plays a central role in this year’s safety strategy. Over 250,000 personnel from more than 40 government agencies have been deployed, supported by AI-powered crowd monitoring systems, facial recognition technology, and drones for surveillance and emergency response including fire suppression. The Saudi Arabian Civil Defense confirmed this marks the first time drones will be used during Hajj operations.

    Infrastructure improvements extend beyond heat mitigation. Around Namira Mosque, authorities have installed 350 misting fans and 320 canopies, while over 2,400 cold water dispensers have been strategically placed along pedestrian routes. Pilgrims have been advised to avoid direct sun exposure during peak daylight hours.

    This year’s pilgrimage features several procedural changes, with first-time pilgrims receiving priority through the digitalized “Nusuk” platform. Women are permitted to perform Hajj without a male guardian, reflecting ongoing social reforms in the kingdom.Mina, located five kilometers east of the Grand Mosque, serves as a crucial waypoint with its iconic landscape of over 100,000 fire-resistant white tents designed to accommodate more than 2.6 million pilgrims. The site represents a feat of modern logistics, featuring a complex network of roads, tunnels, and bridges facilitating movement between the three principal Hajj sites of Mina, Arafat, and Muzdalifah.

  • MIL-OSI Economics: Samsung R&D Institute Noida Ignites India’s Tech Future with 3rd Startup Summit

    Source: Samsung

    Startup Summit 2025 at SRI Noida
     
    Samsung R&D Institute, Noida (SRI-Noida) successfully hosted its third Startup Summit, a dynamic event designed to showcase disruptive technologies, foster meaningful collaborations, and spark conversations on the future of innovation.
     
    The latest edition brought together AI-first startups and global tech leaders, focusing on cutting-edge advancements in healthcare, language models, audio deepfake detection, and extended reality (XR), among others.
     
    The Summit highlighted the critical need for ethical AI, digital trust, and next-generation innovation through cross-functional collaboration. It served as a testament to Samsung’s unwavering commitment to strengthening India’s innovation ecosystem by leveraging robust technology partnerships, cross-industry collaboration, and talent acceleration.
     
    This year’s event featured eight pioneering startups, including Sarvam AI, Jivi AI, HealthifyMe, ValidSoft, KOGO AI, NeoDocs, EnableX and Magnimus working at the intersection of AI, immersive technologies, healthcare, and natural language processing. These startups showcased their breakthrough products and explored potential pilot collaborations with teams from Samsung’s R&D centers, business units, and Samsung Ventures. The participating startups were carefully selected based on their innovation potential, strategic alignment with Samsung’s vision, and capacity to scale globally.
     
    “As SRI-Noida continues to drive the research and innovation agenda, the success of the third Startup Summit underscores our mission to empower next-generation technology leaders through meaningful upskilling, sustained collaboration, and deep ecosystem engagement. This year’s edition was bigger, bolder, and more impact-driven—addressing contemporary challenges while enabling entrepreneurs to create solutions that are globally competitive and locally relevant,” said Kyungyun Roo, Managing Director of SRI-Noida.
     
    List of participating startups included:

    Sarvam AI: A multilingual single model audio LLM platform
    Jivi AI: A large-language-model-based healthcare platform delivering AI doctor and analytics.
    HealthifyMe: An AI-driven nutrition intelligence engine for personalized dietary recommendations.
    ValidSoft: A cutting-edge audio liveness detection system designed to combat deepfake call threats.
    KOGO AI: Large Action Model (LAM) powering voice-driven applications.
    NeoDocs: Mobile-based diagnostics for real-time, point-of-care health assessments.
    EnableX: Real-time facial expression and feature-detection capabilities for enhanced user interaction.
    Magnimus: Gamified XR-based fitness experiences driving engagement and well-being.

     
    A standout moment of the event was a dynamic panel discussion featuring startup founders and SRI-Noida leadership. The conversation explored the rise of AI agents, the need for personalized engagement in digital health platforms, and the imperative of transparent data governance. Panellists also emphasized the ethical deployment of AI and the critical role of trust in shaping user adoption.
     
    Discussions reinforced the growing importance of tailored user experiences and personalized feedback in motivating behaviour change and improving health outcomes. The Summit’s immersive format offered a 360-degree view of Samsung’s innovation network in India, fostering cross-functional collaborations, unlocking new synergies, and aligning startups with global technology trends. Participants praised the platform for facilitating deep-dive conversations with Samsung experts and accelerating product development and market readiness.
     
    By spotlighting emerging technologies in healthcare AI, language processing, deepfake detection, visual AI, and XR, the Startup Summit reaffirmed SRI-Noida’s pivotal role in driving transformational innovation. The event exemplified Samsung’s larger vision—co-creating a future-ready startup ecosystem that delivers meaningful, human-centered impact at scale.

    MIL OSI Economics –

  • Sanjay Jha-led delegation reaches Delhi after concluding India’s outreach against terrorism

    Source: Government of India

    Source: Government of India (4)

    An all-party Indian Parliamentary delegation led by JD(U) MP Sanjay Kumar Jha returned to Delhi from Malaysia on Tuesday, concluding its outreach campaign aimed at strengthening international support against terrorism and building a shared understanding of security threats.

    During their visit, the delegation met with YB Tan Sri Dato’ (Dr.) Johari bin Abdul, Speaker of the House of Representatives (Dewan Rakyat), and members of the Parliamentary Special Committee on International Relations and International Trade, chaired by YB Wong Chen.

    The Speaker reaffirmed Malaysia’s commitment to peace and appreciated India’s briefing on its counter-terrorism efforts. The delegation also engaged with representatives of the Southeast Asia Regional Centre for Counter-Terrorism (SEARCCT), led by Director General Datin Paduka Nur Ashikin Mohd Taib.

    In discussions with SEARCCT, the Indian side highlighted the Centre’s role in the India-Malaysia Joint Working Group on Counterterrorism and stressed the need for greater regional synergy, especially in legal frameworks, counter-terror financing, community resilience, and research on cross-border terrorism.

    The engagements in Malaysia reinforced the India–Malaysia Comprehensive Strategic Partnership and underscored a shared commitment to regional peace and security.

    Speaking to IANS upon returning to Delhi, Sanjay Jha reflected on the outcomes of the multi-nation tour, which included Japan, South Korea, Singapore, Indonesia, and Malaysia.

    “Four or five key messages emerged from the visit,” he said. “First, the delegation delivered a strong, united message—that all parties in India stand together in the fight against terrorism. Second, countries across the region unequivocally condemned the April 22 Pahalgam terror attack and expressed condolences for the 26 victims.”

    He added, “Third, India’s response—targeting only terrorist camps in Pakistan and Pakistan-Occupied Kashmir—was marked by restraint and precision. Fourth, flights have resumed in Jammu and Kashmir, and a Cabinet meeting was held in Pahalgam to assess the situation. We urged that action should be taken against Pakistan by the FATF (Financial Action Task Force).”

    The delegation’s visit, which included stops in Japan, Indonesia, South Korea, Singapore, and Malaysia, aimed to deepen India’s diplomatic and security cooperation, while reaffirming its commitment to regional peace, counter-terrorism, and sustainable development.

    Apart from Jha, the delegation included BJP MPs Aparajita Sarangi, Brij Lal, Pradan Baruah, and Hemang Joshi; TMC MP Abhishek Banerjee; CPI(M) MP John Brittas; Congress leader Salman Khurshid; and former diplomat Ambassador Mohan Kumar.

    (With inputs from IANS)

  • US: Higher metals tariffs kick in as deadline for ‘best’ offers arrives

    Source: Government of India

    Source: Government of India (4)

    The U.S. tariff rate on most imported steel and aluminum doubled on Wednesday as President Donald Trump ratchets up a global trade war on the same day he expects trading partners to deliver their “best offer” in bids to avoid punishing import tax rates on other goods from taking effect in early July.

    Late on Tuesday, Trump signed an executive proclamation that puts into effect from Wednesday his surprise announcement last week that he was taking the tariffs on steel and aluminum imports that had been in place since March to 50% from 25%.

    “We started at 25 and then after studying the data more, realized that it was a big help, but more help is needed. And so that is why the 50 is starting tomorrow,” White House economic adviser Kevin Hassett said in explaining the move at a steel industry conference in Washington on Tuesday. The increase came into effect at 12:01 am (0401 GMT).

    The increase applies to all trading partners except Britain, the only country so far that has struck a preliminary trade agreement with the U.S. during a 90-day pause on a wider array of Trump tariffs. The rate for steel and aluminum imports from the UK – which does not rank among the top exporters of either metal to the U.S. – will remain at 25% until at least July 9.

    About a quarter of all steel used in the U.S. is imported, and Census Bureau data shows the increased levies will hit the closest U.S. trading partners – Canada and Mexico – especially hard. They rank No. 1 and 3, respectively, in steel shipment volumes to the U.S.

    Canada is even more exposed to the aluminum levies as the top exporter to the U.S. by far at roughly twice the rest of the top 10 exporters’ volumes combined. The U.S. gets about half of its aluminum from foreign sources.

    Prime Minister Mark Carney’s office said Canada was “engaged in intensive and live negotiations to have these and other tariffs removed.”

    Mexico Economy Minister Marcelo Ebrard reiterated that the tariffs were unsustainable and unfair, especially given that Mexico imports more steel from the U.S. than it exports there.

    “It makes no sense for the United States to levy a tariff on a product in which you have a surplus,” he said, adding that Mexico would on Friday seek an exemption from the increase.

    The unexpected increase in the levies jolted the market for both metals this week, especially for aluminum, which has seen price premiums more than double so far this year. With little current capacity to increase domestic production, import volumes are likely to be unaffected unless the price increases undercut demand.

    ‘BEST OFFER’ DUE DATE

    Wednesday is also when the White House would like trading partners to submit their proposals for deals that might help them avoid Trump’s hefty “Liberation Day” tariffs from taking effect in five weeks.

    Administration officials have been in active talks with a number of countries since Trump announced a pause on those tariffs on April 9, but to date only the UK deal has come to fruition. Even that agreement, which provided the basis for the carve out from the metals tariffs, is more of a preliminary framework for more talks.

    With just weeks remaining, the Trump team is eager to bring more deals over the line.

    Reuters reported on Monday that the U.S. Trade Representative was asking countries to list their best proposals in a number of key areas, including tariff and quota offers for purchase of U.S. industrial and agricultural products and plans to remedy any non-tariff barriers.

    In turn, the letter promises answers “within days” with an indication of a “landing zone,” including what tariff rates countries can be expected to be saddled with after a 90-day pause on the tariffs expires on July 8. At issue for most trading partners is whether they retain the current baseline rate of 10% on most exports to the U.S. after that date, or something sharply higher in many cases.

    White House spokeswoman Karoline Leavitt confirmed the report on Tuesday, saying: “USTR sent this letter to all of our trading partners just to give them a friendly reminder that the deadline is coming up.”

    Other items requested by the Trump administration include any commitments on digital trade and economic security, along with country-specific commitments, according to the letter.

    Japan, a major U.S. trading partner, has not received such letter, top government spokesperson Yoshimasa Hayashi told a regular press conference.

    “Regarding U.S. tariff measures, negotiations are underway between Japan and the United States,” Hayashi said. “The government will keep on tackling them, doing our utmost and giving them a top priority.”

    The U.S. embassy in Tokyo did not immediately comment.

    (Reuters)

  • Global alarm rises as China’s critical mineral export curbs take hold

    Source: Government of India

    Source: Government of India (4)

    Alarm over China’s stranglehold on critical minerals grew on Tuesday as global automakers joined their U.S. counterparts to complain that restrictions by China on exports of rare earth alloys, mixtures and magnets could cause production delays and outages without a quick solution.

    German automakers became the latest to warn that China’s export restrictions threaten to shut down production and rattle their local economies, following a similar complaint from an Indian EV maker last week.

    China’s decision in April to suspend exports of a wide range of rare earths and related magnets has upended the supply chains central to automakers, aerospace manufacturers, semiconductor companies and military contractors around the world.

    The move underscores China’s dominance of the critical mineral industry and is seen as leverage by China in its ongoing trade war with U.S. President Donald Trump.

    Trump has sought to redefine the trading relationship with the U.S.’ top economic rival China by imposing steep tariffs on billions of dollars of imported goods in hopes of narrowing a wide trade deficit and bringing back lost manufacturing.

    Trump imposed tariffs as high as 145% against China only to scale them back after stock, bond and currency markets revolted over the sweeping nature of the levies. China has responded with its own tariffs and is leveraging its dominance in key supply chains to persuade Trump to back down.

    Trump and Chinese President Xi Jinping are expected to talk this week, White House spokeswoman Karoline Leavitt told reporters on Tuesday, and the export curbsare expected to be high on the agenda.

    “I can assure you that the administration is actively monitoring China’s compliance with the Geneva trade agreement,” she said. “Our administration officials continue to be engaged in correspondence with their Chinese counterparts.”

    Trump has previously signaled that China’s slow pace of easing the critical mineral export controls represents a violation of the agreementreached last month in Geneva.

    MAGNETS HELD UP AT CHINESE PORTS

    Shipments of the magnets, essential for assembling everything from cars and drones to robots and missiles, have been halted at many Chinese ports while license applications make their way through the Chinese regulatory system.

    The restrictions have triggered anxiety in corporate boardrooms and nations’ capitals – from Tokyo to Washington – as officials scrambled to identify limited alternative options amid fears that production of new automobiles and other items could grind to a halt by summer’s end.

    “If the situation is not changed quickly, production delays and even production outages can no longer be ruled out,” Hildegard Mueller, head of Germany’s auto lobby, told Reuters on Tuesday.

    Chinese state media reported last week that China was considering relaxing the curbs for European semiconductor firms while the Ministry of Foreign Affairs has said it would strengthen cooperation with other countries over its controls.

    However, rare-earth magnet exports from China halved in April as exporters grappled with the opaque licensing scheme.

    Frank Fannon, a minerals industry consultant and former U.S. assistant secretary of state for energy resources during Trump’s first term, said the global disruptions are not shocking to those paying attention.

    “I don’t think anyone should be surprised how this is playing out. We have a production challenge (in the U.S.) and we need to leverage our whole of government approach to secure resources and ramp up domestic capability as soon as possible. The time horizon to do this was yesterday,” Fannon said.

    Diplomats, automakers and other executives from India, Japan and Europe were urgently seeking meetings with Beijing officials to push for faster approval of rare earth magnet exports, sources told Reuters, as shortages threatened to halt global supply chains.

    A business delegation from Japan will visit Beijing in early June to meet the Ministry of Commerce over the curbs, and European diplomats from countries with big auto industries have also sought “emergency” meetings with Chinese officials in recent weeks, Reuters reported.

    India, where Bajaj Auto BAJA.NS warned that any further delays in securing the supply of rare earth magnets from China could “seriously impact” electric vehicle production, is organizing a trip for auto executives in the next two to three weeks.

    In May, the head of the trade group representing General Motors GM.N, Toyota 7203.T, Volkswagen VOWG.DE, Hyundai and other major automakers raised similar concerns in a letter to the Trump administration.

    “Without reliable access to these elements and magnets, automotive suppliers will be unable to produce critical automotive components, including automatic transmissions, throttle bodies, alternators, various motors, sensors, seat belts, speakers, lights, motors, power steering, and cameras,” the Alliance for Automotive Innovation wrote in the letter.

    (Reuters)

     

  • India, UK hold 17th Foreign Office Consultations; launch strategic tech dialogue

    Source: Government of India

    Source: Government of India (4)

    India and the United Kingdom on Tuesday held the 17th round of Foreign Office Consultations (FOC) in New Delhi, where the two sides reviewed the full spectrum of their bilateral ties. The meeting also marked the launch of the first Strategic Exports and Technology Cooperation Dialogue (SETCD), aimed at deepening collaboration in high-technology and strategic sectors.

    Foreign Secretary Vikram Misri led the Indian delegation, while the UK side was represented by Sir Oliver Robbins, Permanent Under-Secretary at the Foreign, Commonwealth & Development Office (FCDO). The last FOC was held in London in May 2024.

    The discussions focused on strengthening cooperation across areas such as trade and investment, defence and security, counter-terrorism, climate action, green energy, science and innovation, education, and people-to-people ties. Both sides welcomed the conclusion of the India-UK Free Trade Agreement and the Double Contribution Convention.

    The inaugural SETCD addressed export control mechanisms, with a view to facilitating greater technology collaboration in strategic areas.

    India appreciated the UK’s expression of solidarity in its fight against terrorism. The two sides also exchanged views on key regional and global developments, including the Russia-Ukraine conflict, the Indo-Pacific, and West Asia.

    Both countries agreed to maintain regular exchanges at the political and senior official levels. The next FOC will be held in London in 2026 at a mutually convenient time.

  • Tharoor-led delegation reaches Washington to push India’s anti-terror message

    Source: Government of India

    Source: Government of India (4)

    An all-party Indian Parliamentary delegation, led by Congress MP Shashi Tharoor, arrived in Washington, D.C., on Tuesday for the final leg of its diplomatic outreach tour aimed at building global consensus against Pakistan-sponsored cross-border terrorism.

    The delegation was received at the airport by Indian Ambassador to the U.S., Vinay Mohan Kwatra.

    Over the next two days, the delegation will engage with U.S. lawmakers, officials from the Trump administration, policy think tanks, media representatives, and key decision-makers to present India’s position on terrorism and highlight the objectives of Operation Sindoor.

    In a post on X, the Indian Embassy in the U.S. said: “An all party delegation led by Shashi Tharoor arrives in Washington D.C. Over the next two days the delegation will be meeting members of the US Congress and administration, think tanks, media and policymakers to brief them on Operation Sindoor and India’s strong stand against terrorism.”

    The U.S. visit follows successful outreach in Guyana, Panama, Colombia, and Brazil, and marks the final stop in the delegation’s global campaign.

    Apart from Tharoor, the delegation includes Lok Janshakti Party (Ram Vilas) MP Shambhavi Choudhary, Jharkhand Mukti Morcha MP Sarfaraz Ahmad, Telugu Desam Party MP G.M. Harish Balayogi, BJP MPs Shashank Mani Tripathi, Bhubaneswar Kalita, and Tejasvi Surya, Shiv Sena MP Milind Deora, and Ambassador Taranjit Singh Sandhu.

    Earlier in Brazil, Tharoor emphasized the significance of the U.S. leg of the tour as a platform to counter misinformation and competing narratives.

    “Washington is a particularly interesting case because it is a large country, a superpower with enormous influence in the world, and there are many crosscurrents of information, misinformation, and other narratives circulating,” Tharoor told IANS.

    He underlined the need for international solidarity against terrorism. “We’re looking for solidarity in our struggle against terrorism. What is very clear in these countries is that some of these issues they understand, some they don’t fully understand. And the natural instinct in many countries is to say — why not have a dialogue? But it’s very difficult to have a dialogue with people who are pointing a gun at your head, who are sending terrorists across your border. That becomes a problem,” he said

    Reflecting on the tour so far, Tharoor said: “For us, in these countries, understanding our position and leaving with a sense of solidarity was important – and that we have done.”

    (With inputs from IANS)

  • ‘On One Mission, One Message, One India’: Indian delegation reaches Brussels to rally global support against terrorism

    Source: Government of India

    Source: Government of India (4)

    An all-party Indian Parliamentary delegation, led by BJP MP Ravi Shankar Prasad, arrived in Brussels on Tuesday, marking the final leg of its European tour aimed at strengthening international consensus against Pakistan-backed cross-border terrorism.

    Highlighting the delegation’s bipartisan nature, the Indian Embassy in Belgium and Luxembourg posted on X: “’On One Mission, One Message, One India’. An All-Party Delegation led by Member of Parliament Ravi Shankar Prasad was received by the Indian Ambassador to EU, Belgium and Luxembourg Saurabh Kumar upon arrival in Brussels.”

    During the two-day visit, the delegation is scheduled to hold a series of meetings with EU officials and Belgian authorities to underscore “the scourge of terrorism, including cross-border terrorism, Pahalgam terrorist attack and India’s response to the same.”

    The group will reiterate India’s resolve to eradicate terrorism in all its forms and manifestations. Meetings with think tanks, members of the media, and the Indian diaspora in Brussels are also on the agenda.

    Brussels is the concluding stop on a multi-nation tour that has already taken the delegation through France, Italy, Denmark, and the UK.

    In addition to Prasad, the delegation includes BJP MPs Daggubati Purandeswari, Samik Bhattacharya, and Ghulam Ali Khatana; Shiv Sena (UBT) MP Priyanka Chaturvedi; AIADMK MP M. Thambidurai; Congress MP Amar Singh; former Union Minister M.J. Akbar; and former Ambassador Pankaj Saran.

  • Supriya Sule-led delegation welcomes condemnation of Pahalgam terror attack by Egypt

    Source: Government of India

    Source: Government of India (4)

    An all-party Indian Parliamentary delegation, led by NCP (SP) MP Supriya Sule, met Egyptian Foreign Minister Badr Abdelatty in Cairo on Tuesday, seeking support for India’s efforts to counter cross-border terrorism. The meeting marked the second day of the delegation’s visit to Egypt.

    According to the Indian Embassy in Cairo, the delegation welcomed Egypt’s strong condemnation of the recent Pahalgam terror attack.

    “Both sides acknowledged the growing momentum in the India-Egypt Strategic Partnership and reaffirmed their unified stance against terrorism,” the embassy said in a statement.

    “Foreign Minister Abdelatty reiterated Egypt’s full solidarity with India and welcomed deeper bilateral collaboration on counter-terrorism,” the statement added.

    The delegation also met with Ahmed Aboul Gheit, Secretary General of the League of Arab States, to discuss India’s broad-based political, economic, and cultural engagement with the Arab world. The embassy noted that both sides “emphasised the priority accorded to countering terrorism and the need for sustained multilateral cooperation in this regard.”

    Earlier in the day, the delegation held a high-level interaction led by Egypt’s former foreign minister Nabil Fahmy, bringing together leading intellectuals, media figures, and opinion makers. The Indian side reiterated its principled stand and collective resolve to fight terrorism, while appreciating Egypt’s consistent support.

    In a symbolic tribute, the members also visited the Heliopolis War Memorial in Cairo to honour Indian soldiers who lost their lives during the First and Second World Wars.

    Besides Sule, the all-party delegation includes BJP leaders Rajiv Pratap Rudy, Anurag Thakur, and V. Muraleedharan; Congress leaders Manish Tewari and Anand Sharma; TDP MP Lavu Sri Krishna Devarayalu; AAP leader Vikramjeet Singh Sawhney; and former diplomat Syed Akbaruddin.

  • PM Modi praises enthusiastic participation in Yogandhra 2025 ahead of International Yoga Day

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Tuesday lauded the spirited participation in Yogandhra 2025, a yoga event held near Chittoor, Andhra Pradesh, as part of the state’s build-up to International Day of Yoga (IDY) 2025.

    Set against the scenic Puligundu Twin Hills, the event saw over 2,000 yoga enthusiasts gather to kick off the month-long celebrations.

    Calling the initiative “commendable,” the Prime Minister encouraged citizens to actively participate in Yoga Day on June 21 and integrate yoga into their daily lives.

    https://x.com/narendramodi/status/1929910015068123397?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1929910015068123397%7Ctwgr%5E553535cfc519e9ecfed47608659a2869584c5fcf%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Fwww.pib.gov.in%2FPressReleasePage.aspx%3FPRID%3D2133645

    Earlier, speaking during the 122nd edition of Mann Ki Baat, Prime Minister Narendra Modi said, ‘The Government of Andhra Pradesh has launched the #YogAndhraAbhiyan. Its objective is to cultivate a strong yoga culture throughout the state. Under this campaign, a pool of 10 lakh yoga practitioners is being created. I will have the opportunity to participate in the Yoga Day programme in Visakhapatnam this year.’

    This year’s International Day of Yoga will be celebrated worldwide under the theme “Yoga for One Earth, One Health,” emphasizing the holistic benefits of yoga for personal well-being and planetary health. The event is expected to witness participation from millions globally, including mass yoga sessions, seminars, and wellness activities aimed at promoting a healthier and more sustainable future.

  • IPL 2025: RCB to celebrate maiden title with CM meet, open-top bus parade and festivities at Chinnaswamy

    Source: Government of India

    Source: Government of India (4)

    Royal Challengers Bengaluru (RCB) are all set for a grand celebration after clinching their first-ever IPL title following a thrilling six-run victory over Punjab Kings in Ahmedabad on Tuesday.

    The team is scheduled to arrive at Bengaluru’s HAL airport at 1:30 pm, followed by a meeting with Karnataka Chief Minister Siddaramaiah at Vidhana Soudha between 4 and 5 pm. Shortly after, at around 5 pm, RCB’s victory parade will commence, proceeding from Vidhana Soudha to M. Chinnaswamy stadium on an open-top bus, allowing fans across the city to join in the celebrations.

    The celebrations will continue at Chinnaswamy stadium from 6 pm onwards, where fans and players will come together to mark the historic triumph.

    Before this landmark win, RCB had faced heartbreak in all three of their previous IPL finals. However, at the Narendra Modi Stadium on June 3, Virat Kohli top-scored with a crucial 43 runs off 35 balls, helping RCB post a competitive total of 190/9.

    In response, Krunal Pandya led a disciplined bowling effort with figures of 2/17 from four overs, restricting Punjab Kings to 184/7 and sealing the victory.

    With this triumph, Kohli, donning the iconic No. 18 jersey, and RCB finally lifted the elusive IPL trophy in their 18th season. The victory sparked celebrations among over 91,000 fans at the stadium and millions more in Bengaluru and worldwide.

    (With agency input)

  • MIL-OSI: Egypt and Saudi Arabia are the easiest countries for doing business in the Middle East, says GBCI 2025

    Source: GlobeNewswire (MIL-OSI)

    LONDON, June 04, 2025 (GLOBE NEWSWIRE) — The Middle East is positioned as a mid-complexity region for doing business in the Global Business Complexity Index (GBCI) recently launched by TMF Group.

    The report ranks 79 jurisdictions, accounting for 94% of the world’s GDP, based on their business complexity, with 1 being the most complex and 79 the least complex. Within the Middle East, Egypt is ranked 37th globally, followed closely by the Kingdom of Saudi Arabia at 38th, the United Arab Emirates (UAE) at 39th and Qatar at 44th.

    Egypt has decreased in complexity from last year’s position of 28th, mainly due to several strategic efforts and developments. For example, the country’s adoption of diverse logistic solutions and strengthening of trade corridors has played a pivotal role in mitigating economic pressures and geopolitical risks. The establishment of integrated logistics corridors and free zones, coupled with incentives like simplified customs procedures, has also enhanced accessibility for foreign businesses.

    Saudi Arabia has also improved its position, ranking 38th this year (one point less complex than last year), with resilience amid geopolitical disruptions and Vision 2030 initiatives being highlighted as key drivers of the ease of complexity. The country’s strategy to diversify its economy beyond oil dependency continues at the forefront, as the Kingdom invests in trade infrastructure and regulatory frameworks, enhancing supply chain resilience. In addition, under Vision 2030, Saudi Arabia is striving to reduce its vulnerability to geopolitical threats. Parallelly, investments in infrastructure aim to establish the Kingdom as a global logistics hub.

    The UAE, ranking 39th this year, continues to position itself as a resilient hub amid global geopolitical disruptions. Strict regulations in place aim to ensure operations are compliant and secure, and contribute to the UAE being seen as a ‘safe haven’ for a diverse range of sectors. These regulations help mitigate risks and provide stability for businesses, fostering confidence among investors and enterprises. With multiple entry points and robust infrastructure, the UAE offers reliable trade corridors.

    With a slight increase in its complexity, Qatar is ranked 44th (last year, it ranked 48th). The geopolitical landscape remains volatile, with Qatar being involved in multiple peace talks, which underscores regional unpredictability and contributes to the heightened sense of uncertainty in the business environment. Additionally, the labour market faces challenges such as increased staff turnover and wage inflation, impacting cost efficiency.

    Achin Malik, TMF Group’s Middle East, India and Africa Market Head, commented:

    “Complexity is no longer the biggest challenge for business worldwide: uncertainty is. At a time of great instability in global trade and rising geopolitical tensions, the Middle East is increasingly strengthening its trade corridors — and exploring new ones. This positions countries like Egypt, Saudi Arabia, UAE and Qatar as resilient hubs for businesses amid geopolitical and natural disruptions, in a context of increased unpredictability.”

    Global top and bottom ten (1= most complex, 79= least complex) 
    1. Greece  79. Cayman Islands 
    2. France  78. Denmark 
    3. Mexico  77. New Zealand 
    4. Turkey  76. Hong Kong, SAR 
    5. Colombia  75. Jersey 
    6. Brazil  74. Netherlands 
    7. Italy  73. Jamaica 
    8. Bolivia  72. British Virgin Islands 
    9. Kazakhstan  71. Curaçao 
    10. China  70. Czech Republic 

    Media Contacts

    TMF Group

    Marina Llibre Martín, Global PR Manager
    marina.llibremartin@tmf-group.com

    The MIL Network –

  • Sensex, Nifty open higher amid positive global cues

    Source: Government of India

    Source: Government of India (4)

    India’s benchmark indices opened in the green on Wednesday, tracking upbeat cues from Asian markets that bolstered investor sentiment.

    The Sensex climbed 155.81 points, or 0.19 percent, to 80,893.32, while the NSE Nifty gained 60 points, or 0.25 percent, to 24,602.80 in early trade.

    Broader market participation remained strong, with midcap and smallcap stocks continuing their upward momentum. The Nifty Midcap 100 advanced 309.30 points, or 0.54 percent, to 57,826.40, and the Nifty Smallcap 100 rose 88.40 points, or 0.49percent, to 18,210.75.

    Top gainers in early trade included Bharti Airtel, Zomato (Eternal), Tata Motors, M&M, IndusInd Bank, Maruti Suzuki, Tech Mahindra, Bajaj Finance, ITC, HUL, and Infosys. TCS, Ultratech Cement, ICICI Bank, Titan, and Sun Pharma were among the major laggards.

    Asian markets traded higher, with indices in Tokyo, Shanghai, Hong Kong, Seoul, and Jakarta posting gains. Overnight, U.S. stocks also ended in positive territory, lending further support to sentiment.

    On the institutional side, foreign institutional investors (FIIs) extended their selling streak for the third consecutive session on Tuesday, offloading equities worth Rs 2,853.83 crore. Meanwhile, domestic institutional investors (DIIs) remained steady buyers for the 11th session in a row, infusing Rs 5,907.97 crore into equities.

    Analysts highlighted that India’s benign CPI inflation provides the Reserve Bank of India (RBI) with scope for at least two more rate cuts in 2025. While this could impact bank margins, large private lenders are expected to deliver 12–15 percent returns over the next year, supported by strong fundamentals.

    (With inputs from IANS)

  • India’s cultural renaissance: A journey of heritage, unity and global influence

    Source: Government of India

    Source: Government of India (4)

    India’s cultural renaissance over the last eleven years has been guided by a vision that seeks to uphold the nation’s deep-rooted heritage while embracing the modern world. Under Prime Minister Narendra Modi’s leadership, this revival has blended spirituality, infrastructure, and inclusivity—bringing India’s timeless traditions into global focus. Culture has become a key pillar of national identity and international diplomacy. From restoring temples to reclaiming artefacts, from celebrating diversity to promoting Yoga and Ayurveda worldwide, India is reaffirming its civilizational strength with pride and purpose.

    Reimagining sacred spaces

    India’s spiritual heartlands have been transformed through landmark projects like the Kashi Vishwanath Corridor in Varanasi, the Mahakaal Lok in Ujjain, and the construction of the Ram Mandir in Ayodhya. Pilgrimage destinations such as Kedarnath and Somnath have undergone extensive restoration and beautification, preserving their sanctity while improving the experience for millions of devotees.

    Improving access to pilgrimage sites

    Recognizing the need to make spiritual journeys safer and easier, the government has significantly upgraded pilgrimage infrastructure. Projects like the Char Dham Highway and the Hemkund Sahib Ropeway are improving access to remote religious sites. Meanwhile, development of the Buddhist Circuit across several states has revived interest in India’s Buddhist legacy.

    Preserving diversity through inclusive development

    Cultural preservation efforts have not been limited to a single faith. Through schemes like PRASHAD and Swadesh Darshan, the government has rejuvenated religious sites across faiths, fostering communal harmony. From mosques to churches to ancient shrines, investments in spiritual infrastructure have revitalized local economies and enriched India’s pluralistic fabric.

    Reviving lost heritage

    Reclaiming stolen antiquities has been a key part of restoring national pride. Since 2014, hundreds of artefacts once lost abroad have been traced and brought back. The United States alone has returned over 570 pieces—more than any other country—symbolizing a major diplomatic and cultural achievement.

    Celebrating true nation builders

    Efforts to honour freedom fighters, reformers, and unsung heroes have gained momentum through initiatives like the Azadi Ka Amrit Mahotsav. This nationwide campaign celebrated 75 years of India’s independence and spotlighted diverse contributors to the nation’s journey. Museums and memorials now serve as living tributes to their legacy.

    Monuments of national pride

    The Pradhan Mantri Sangrahalaya, the National War Memorial, and the Bharat Mandapam are among several major projects that reflect India’s reverence for its leaders and defenders. The new Parliament House, inaugurated in 2023, seamlessly merges traditional design with modern sustainability, serving as a powerful symbol of democratic strength.

    Strengthening civilizational unity

    Initiatives like the Kashi Tamil Sangamam have deepened cultural ties between regions, while the celebration of spiritual leaders across faiths has promoted mutual respect. Events like the Maha Kumbh 2025, attended by over 66 crore devotees, showcased India’s unparalleled spiritual vibrancy and its ability to unite people across backgrounds.

    Embracing transparency and reform

    The passage of the Waqf (Amendment) Act, 2025 has improved governance over religious assets, ensuring accountability through digitization and public access. This reform reinforces the broader commitment to modernizing systems without compromising cultural integrity.

    Showcasing India to the world

    The World Audio Visual Entertainment Summit (WAVES), held in Mumbai in 2025, marked a turning point for India’s media and entertainment sector. With participation from over 100 countries, the summit positioned India as a global hub for cultural exchange, business innovation, and storytelling.

    Yoga as a global wellness movement

    Since its international recognition in 2015, Yoga has united the world through its message of physical and mental harmony. Participation in the International Day of Yoga has grown year after year, and the 2025 theme—“Yoga for One Earth, One Health”—emphasizes wellness as a universal goal.

    Ayurveda’s global reach

    Ayurveda has become a global symbol of holistic health, with the Ministry of AYUSH driving international collaborations, research, and education. Agreements with countries like Vietnam and Malaysia, the launch of the Ayush Visa, and the establishment of the WHO Global Traditional Medicine Centre in Jamnagar have extended Ayurveda’s global footprint.

    World recognition through UNESCO

    India continues to secure global recognition for its heritage. The addition of the Moidams of Assam to the World Heritage List in 2024 took the country’s total to 43 listed sites. These places now serve not only as tourist attractions but as symbols of India’s living history.

    India’s cultural resurgence is as much about remembrance as it is about renewal. Temples restored, infrastructure modernized, heroes celebrated, and traditions globalized—these achievements are rooted in a vision that sees culture not just as history, but as a force for national unity and global influence. Today, India stands tall, not only protecting its legacy but proudly sharing it with the world.

  • Indian delegation wraps up ‘successful’ Brazil visit before departing for US

    Source: Government of India

    Source: Government of India (4)

    An all-party Indian Parliamentary delegation led by Congress MP Shashi Tharoor concluded its visit to Brazil on Tuesday, laying emphasis on counter-terrorism cooperation with the South American country.

    As part of India’s ongoing efforts to foster international cooperation in the global fight against terrorism, particularly in the context of Operation Sindoor and the India’s sustained campaign against cross-border terrorism, the delegation successfully conducted its official visit to Brazil from June 1 to 2, the Indian Embassy in Brazil said in a statement on Tuesday.

    India’s newly appointed Ambassador to Brazil, Dinesh Bhatia also accompanied the delegation during the visit, the Indian Embassy in Brazil added in the press statement.

    The Indian delegation held meetings with senior Brazilian leadership, including Geraldo Alckmin, Vice-President of Brazil; Ambassador Celso Amorim, Chief Adviser to the President; Ambassador Maria Laura da Rocha, Acting Foreign Minister; Senator Nelsinho Trad, President of the Senate Foreign Affairs Committee and also the President of Brazil-India Parliamentary Friendship Group; and Deputy Filipe Barros, Chair of the Committee on Foreign Affairs and National Defence of the Chamber of Deputies.

    In all their discussions, the delegation emphasised India’s unwavering resolve to counter cross-border terrorism in the wake of the Pahalgam terrorist attack and highlighted the threat it poses to global peace and stability.

    The meetings provided an opportunity to convey India’s strong bipartisan consensus and zero-tolerance approach to terrorism in the wake of the Pahalgam attack on April 22, while also exchanging perspectives on regional and global security and democratic cooperation between the two nations.

    The Indian Embassy appreciated the Brazil government and the Parliament for their warm hospitality and constructive dialogue.

    The visit marks a significant step in strengthening the India-Brazil Strategic Partnership and enhancing collaboration in the global fight against terrorism, said the Indian Embassy.

    Apart from Tharoor, the delegation includes Sarfaraz Ahmad from Jharkhand Mukti Morcha, GM Harish Balayogi from the Telugu Desam Party, Shashank Mani Tripathi, Bhubaneswar Kalita and Tejasvi Surya from the Bharatiya Janata Party, and Taranjit Singh Sandhu, former Ambassador of India to the United States. India’s newly appointed Ambassador to Brazil also accompanied the delegation during their visit.

  • India reiterates global resilience push at UN disaster platform in Geneva

    Source: Government of India

    Source: Government of India (4)

    Principal Secretary to the Prime Minister, Dr. P.K. Mishra, on Tuesday reaffirmed India’s commitment to global disaster resilience at the 8th Global Platform for Disaster Risk Reduction.

    “Principal Secretary to PM Dr. P.K. Mishra participates in the opening ceremony of 8th Global Platform for Disaster Risk Reduction in Geneva, reinforcing India’s commitment to global disaster resilience efforts,” the India at UN in Geneva said in a post on X.

    Addressing the opening ceremony, Dr. Mishra spotlighted India’s proactive stance on preparedness and its emphasis on inclusive, risk-informed development.

    On the sidelines, he met with Norway’s Deputy Minister for International Development, Stine Renate Håheim, discussing ways to deepen international cooperation in disaster risk reduction and resilience-building efforts in a changing climate.

    The event, jointly hosted by the United Nations for Disaster Risk Reduction (UNDRR) and the Government of Switzerland, saw India reaffirm its dedication to the Sendai Framework, aligning with its national policies to reduce disaster risks.

    According to the UN, the Global Platform for Disaster Risk Reduction is the main global forum to assess and discuss progress on the implementation of the Sendai Framework for Disaster Risk Reduction.

    The eighth session of the Global Platform for Disaster Risk Reduction (GP2025), convened by the UN Office for Disaster Risk Reduction (UNDRR), is being held from June 2 to 6 in Geneva, Switzerland.

  • Scientists in Japan develop plastic that dissolves in seawater within hours

    Source: Government of India

    Source: Government of India (4)

    Researchers in Japan have developed a plastic that dissolves in seawater within hours, offering up a potential solution for a modern-day scourge polluting oceans and harming wildlife.

    While scientists have long experimented with biodegradable plastics, researchers from the RIKEN Center for Emergent Matter Science and the University of Tokyo say their new material breaks down much more quickly and leaves no residual trace.

    At a lab in Wako city near Tokyo, the team demonstrated a small piece of plastic vanishing in a container of salt water after it was stirred up for about an hour.

    While the team has not yet detailed any plans for commercialisation, project lead Takuzo Aida said their research has attracted significant interest, including from those in the packaging sector.

    Scientists worldwide are racing to develop innovative solutions to the growing plastic waste crisis, an effort championed by awareness campaigns such as World Environment Day taking place on June 5.

    Plastic pollution is set to triple by 2040, the UN Environment Programme has predicted, adding 23-37 million metric tons of waste into the world’s oceans each year.

    “Children cannot choose the planet they will live on. It is our duty as scientists to ensure that we leave them with best possible environment,” Aida said.

    Aida said the new material is as strong as petroleum-based plastics but breaks down into its original components when exposed to salt. Those components can then be further processed by naturally occurring bacteria, thereby avoiding generating microplastics that can harm aquatic life and enter the food chain.

    As salt is also present in soil, a piece about five centimetres (two inches) in size disintegrates on land after over 200 hours, he added.

    The material can be used like regular plastic when coated, and the team are focusing their current research on the best coating methods, Aida said. The plastic is non-toxic, non-flammable, and does not emit carbon dioxide, he added.

    (Reuters) 

  • MIL-OSI: North America high-net-worth individual population surges, while Europe and Middle East shrink

    Source: GlobeNewswire (MIL-OSI)

    Press contact:
    Fahd Pasha
    Tel.: +1 647 860 3777
    E-mail: Fahd.Pasha@capgemini.com

    North America high-net-worth individual population surges, while Europe and Middle East shrink

    • U.S. led the world in growth in its millionaire population, adding 562,000 to reach 7.9 million
    • Ultra-high net worth individual population rises by 6.2% worldwide
    • High-net-worth individuals now allocate 15% of their portfolios to alternative investments, including cryptocurrencies

    Paris, June 4, 2025 – The Capgemini Research Institute’s World Wealth Report 2025, published today, reveals the global high-net-worth individuals1(HNWIs) population rose by 2.6% in 2024. Now in its 29thedition, the report finds this increase was driven by the growth in the population of ultra-high-net-worth individuals (UHNWIs), which grew by 6.2%, as strong stock markets and AI optimism boosted portfolio returns. The data indicates that alternative investments2, such as private equity and cryptocurrencies, are now an established presence in HNWI holdings, representing 15% of their portfolios.

    Bullish stock market performance in the U.S. fuels wealth increase
    A favorable interest rate environment and strong U.S. equity market returns helped boost wealth creation in 2024. North America saw the biggest gains, with the HNWI population rising by 7.3%. In contrast, Europe, Latin America and the Middle East saw declines in their HNWI populations, as macroeconomic challenges weighed.

    At the end of 2024, according to Capgemini’s research: 

    • Europe’s HNWI population declined 2.1% due to economic stagnation in major countries, with United Kingdom, France and Germany losing 14,000, 21,000 and 41,000 millionaires, respectively. In contrast, Europe’s UHNWI population rose 3.5%, reflecting increased wealth concentration.
    • Asia-Pacific’s HNWI population increased 2.7%, with notable variability across the region.
    • Latin America’s HNWI population declined 8.5%, due to currency depreciation and fiscal instability. Brazil (-13.3%) and Mexico (-13.5%) witnessed the biggest population declines.
    • The Middle East’s HNWI population declined 2.1%, driven by lower oil prices.

    Within the largest individual markets, the U.S. was the clear leader, adding 562,000 millionaires as the country’s HNWI population grew by 7.6% to 7.9 million. India and Japan were standouts in the Asia-Pacific region, with both countries registering 5.6% growth, adding 20,000 and 210,000 millionaires, respectively. In contrast, growth in China was negative, with HNWI population declining by 1.0%.

    Next-gen HNWIs seek wealth management firms that align with investment priorities
    Wealth management firms are actively preparing for a new era of wealth transfer in which 83.5 trillion USD3 will change hands over the next two decades, creating the next generation of HNWIs4. According to the report, this handover will unfold in three phases: 30% of HNWIs will receive an inheritance by the end of 2030, 63% will inherit wealth by the end of 2035, and 84% by 2040.

    “The great wealth transfer will be a defining moment for the industry. Despite global wealth on the rise, 81% of inheritors plan to switch firms within one to two years of inheritance. Potentially losing these unsatisfied clients is going to create significant risk for the global wealth management sector,” said Kartik Ramakrishnan, CEO of Capgemini’s Financial Services Strategic Business Unit and Group Executive Board Member. “The next-generation of high-net-worth individuals arrive with vastly different expectations to their parents. This necessitates an urgent shift away from traditional strategies to effectively cater to their evolving needs on this wealth journey. Firms must also prepare to equip advisors with the digital capabilities, potentially augmented with agentic or generative AI, to mitigate the risk of losing both clients and key employees.”

    As of January 2025, HNWI investors parked 15% of their portfolios in alternative investments, including private equity and cryptocurrencies. They are willing to take more risks to expand their wealth – allocating capital to higher growth asset classes and niche product offerings, notably by 61% of millennial and Gen Z HNWIs.

    To attract next-gen HNWIs, wealth management firms must rethink
    The report highlights that wealth management firms need to refresh and revamp their services and offerings to resonate with the next-gen HNWI customer base. Including:

    • Private equity and cryptocurrencies: 88% of advisors observe a greater interest in alternative assets amongst this group of investors over baby boomers
    • New offshore booking centers: 50% of advisors indicate their lack of capabilities in emerging wealth hubs – Singapore, Hong Kong, UAE and Saudi Arabia – will drive these clients to alternate firms, as they seek diversification, better returns and a favorable regulatory environment
    • Tailored services: concierge services such as luxury travel, medical care, and safeguarding against cyber threats, rank as the top non-financial value-added service most sought after
    • Digital interactions: advisors rank a digital platform providing a holistic client view and actionable insights as the most important capability to effectively serve next-gen HNWIs, followed by intelligent automation of operational tasks like meeting summaries and emails

    Insufficient support from wealth management firms makes advisors a flight risk
    According to the report, one-in-three advisors express dissatisfaction with their firms’ lack of digital capabilities, negatively impacting their productivity, and creating a technological divide. In addition, 62% of next-gen HNWIs say they would follow their advisor if they moved to a different firm. Altogether, this directly impacts retention, as advisors struggle to engage these digital-native clients.

    Beyond digital resources, the industry is on the cusp of a talent shortage amid an unprecedented transfer of wealth to Gen X, millennial, and Gen Z inheritors. In the next 12 months, one in four advisors plan to be on the move, with a majority transitioning to a competitor firm and a few starting their own ventures. Additionally, 20% of advisors say they will retire by 2035, with 48% planning to retire by 2040.

    As the great wealth transfer unfolds, the wealth management industry will need to reimagine product offerings through tailored investment options for next-gen HNWIs. Firms must empower and engage advisors with an intuitive digital experience across all channels to secure their loyalty, the report concludes.

    Read the full report: Sailing through the Great Wealth Transfer

    Report Methodology
    The World Wealth Report 2025 market-sizing model covers 71 countries, accounting for more than 98% of global gross national income and 99% of world stock market capitalization. The Capgemini 2025 Global HNW Insights Survey questioned 6,472 HNWIs including 5,473 Next-gen HNWIs across four regions: Americas, Europe, and Asia-Pacific and Middle East. The 2025 Wealth Management Executive Survey includes 141 responses across 10 markets, with representation from pure WM firms, universal banks, independent broker/dealer firms, and family offices. The 2025 Relationship Manager Survey, executed by Phronesis Partners, includes 1,306 responses across twelve markets.

    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 the Capgemini Research Institute
    The Capgemini Research Institute is Capgemini’s in-house think-tank on all things digital. The Institute publishes research on the impact of digital technologies on large traditional businesses. The team draws on the worldwide network of Capgemini experts and works closely with academic and technology partners. The Institute has dedicated research centers in India, Singapore, the United Kingdom, and the United States. It was ranked #1 in the world for the quality of its research by independent analysts for six consecutive times – an industry first.
    Visit us at www.capgemini.com/researchinstitute

    1 HNWIs are high-net-worth individuals with investable assets of USD1 million or more, excluding their primary residence, collectibles, consumables, and consumer durables. HNWIs are segmented into three categories based on wealth bands: Ultra-HNWIs (USD30 million or more), Mid-Tier Millionaires (USD5-30M) and Millionaires Next Door (USD1-5M).
    2 Alternative investments include commodities, currencies, private equity, hedge funds, structured products, and digital assets
    3 UBS, “Global Wealth Report 2024”
    4 Gen X (aged 44 to 59 years as of 2025), millennial (aged 28-43 years as of 2025), and Gen Z (12 to 27 years as of 2025) inheritors are referenced as “next-gen HNWIs” to signify the generational shift in HNWI wealth

    Attachment

    The MIL Network –

  • PM Modi congratulates Lee Jae-myung on election as South Korean President, vows to strengthen strategic ties

    Source: Government of India

    Source: Government of India (4)

    Prime Minister Narendra Modi on Wednesday extended his congratulations to Lee Jae-myung on being elected as the President of the Republic of Korea (ROK), expressing his commitment to further strengthening the India-ROK Special Strategic Partnership.

    In a post on X, the Prime Minister said, “Congratulations to Mr Lee Jae-myung on being elected as the President of the Republic of Korea. Look forward to working together to further expand and strengthen the India-ROK Special Strategic Partnership.”

    Liberal opposition leader Lee Jae-myung secured a decisive victory in the presidential election held early Wednesday. His win marks the culmination of months of political instability in South Korea, following the dramatic but short-lived declaration of martial law by the now-ousted conservative leader Yoon Suk Yeol.

  • FIFA’s inaugural Club World Cup set to kick off in the US amid challenges

    Source: Government of India

    Source: Government of India (4)

    FIFA’s billion-dollar gamble to revolutionise club football begins a week on Sunday with plenty of cash up for grabs but questionable enthusiasm as 32 teams prepare to contest the expanded Club World Cup in 12 stadiums across the United States.

    The tournament – designed as a glittering curtain-raiserfor the 2026 World Cup – has had to contend with the prospect of empty seats along with controversial qualification rules and player welfare concerns after an exhausting European season.

    Lionel Messi’s Inter Miami face Egypt’s Al Ahly in the opening fixture on June 14 in Miami, with tickets still widely available, while FIFA’s website shows seats can still be bought for the July 13 final at New Jersey’s MetLife Stadium.

    FIFA said it was normal policy not to reveal details of ticket sales ahead of a tournament but pointed to the fact that tickets have been sold to fans in more than 130 countries as evidence of the CWC’s broad appeal.

    Inter Miami controversially gained their slot by topping Major League Soccer’s regular season standings, despite then losing in the first round of the playoffs, in a decision critics say showed FIFA’s desperation to have the Argentina great at the showpiece.

    Inter Miami were thus included as the host nation representative – instead of MLS champions LA Galaxy – with Los Angeles FC and Seattle Sounders making it three U.S. teams after qualifying through their Concacaf performances.

    As well as the winners of each confederation’s premier club competition, teams qualified according to a ranking based on their performances over a four-year period.

    In another twist that went all the way to the Court of Arbitration for Sport, Club Leon, the 2023 CONCACAF Champions Cup winners, were eventually excluded from the tournament due to having shared ownership with another qualifier.

    RIGHTS DEAL

    Nailing down a last-gasp $1 billion TV rights deal with sports streaming platform DAZN six months before the tournament means a total of $2 billion in expected revenues.

    That led FIFA to announce a total prize pot of $1 billion, with the winning club to receive up to $125 million.

    FIFA said there is also an unprecedented solidarity investment programme with a target of an extra $250 million provided to club football across the world and that all revenues from the tournament will be distributed to club football.

    That prize pot might look mouth-watering for club owners but for many players it will feel like a step too far after a long season and the European arm of players’ union FIFPro and the European Leagues took legal action against FIFA over the issue.

    In response, FIFA said it has “dozens of testimonies from players and coaches positively discussing the tournament” and said it was unfair to blame the CWC for calendar congestion.

    “It is a competitive tournament that takes place once every four years with a maximum of seven matches only for the two teams who reach the final,” a FIFA spokesman said.

    FIFA has also given assurances that NFL stadiums hosting matches will meet their specifications, confirming all venues will feature natural grass and adhere to standard regulation dimensions following sub-par pitches at last season’s Copa America.

    TOP CONTENDERS

    Divided into eight groups of four teams, top contenders include Real Madrid, winners of six of the last 12 Champions League titles, plus German champions Bayern Munich and 2023 Premier League and Champions League winners Manchester City.

    European champions Paris St Germain are the in-form team heading into the tournament after their historic 5-0 thrashing of Inter Milan in the Champions League final on Saturday.

    But they must survive a tough Group B featuring South American and Brazilian champions Botafogo and 2024 CONCACAF winners Seattle Sounders plus Spanish giants Atletico Madrid.

    Whether you call it soccer or football, for FIFA the tournament represents a dress rehearsal and a referendum on America’s appetite for the sport and on the world governing body’s vision for its commercial future ahead of the 2026 World Cup being co-hosted by the U.S., Mexico and Canada.

    “It will usher in a new era for club football worldwide,” FIFA said in a statement. “It will be the greatest, most inclusive and merit-based global club competition in history, bringing together the most successful club sides from every continent to decide the true world champion at club level.”

    (Reuters)

  • South Korea’s new president Lee Jae-myung vows economic revival, judgment on martial law

    Source: Government of India

    Source: Government of India (4)

    South Korea’s new liberal President Lee Jae-myung began his term on Wednesday, vowing to raise the country from the turmoil of a martial law crisis and revive an economy reeling from slowing growth and the threat of global protectionism.

    Lee’s decisive victory in Tuesday’s snap election stands to usher in a sea change in Asia’s fourth-largest economy, after backlash against a botched attempt at military rule brought down Yoon Suk Yeol just three years into his troubled presidency.

    He faces what could be the most daunting set of challenges for a South Korean leader in nearly three decades, ranging from healing a country deeply scarred by the martial law attempt to tackling unpredictable protectionist moves by the United States, a major trading partner and a security ally.

    With 100% of the ballots counted, Lee won 49.42% of the nearly 35 million votes cast while conservative rival Kim Moon-soo took 41.15% in the polls that brought the highest turnout for a presidential election since 1997, according to National Election Commission data.

    The 61-year-old former human rights lawyer called Tuesday’s election “judgment day” against Yoon’s martial law and his People Power Party’s failure to stop the ill-fated move.

    “The first mission is to decisively overcome insurrection and to ensure there will never be another military coup with guns and swords turned against the people,” Lee said in a victory speech outside parliament.

    “We can overcome this temporary difficulty with the combined strength of our people, who have great capabilities,” he said.

    Lee was officially confirmed as president by the National Election Commission on Wednesday and immediately assumed the powers of the presidency and commander in chief.

    An abbreviated inauguration is planned at parliament at 11 a.m. (0200 GMT), an Interior Ministry official said.

    Lee has said he would address urgent economic challenges facing the country on the first day in office with a focus on the cost-of-living concerns affecting middle and low-income families and the struggles of small business owners.

    He also faces a deadline set by the White House on negotiating import duties that Washington has blamed for a large trade imbalance between the countries.

    ‘DEAL WITH TRUMP’

    The government under a caretaker acting president had made little progress in trying to assuage crushing tariffs announced by U.S. President Donald Trump’s administration that would hit some of the country’s major industries, including autos and steel.

    “President Lee will find himself with little to no time to spare before tackling the most important task of his early presidency: reaching a deal with Trump,” the Washington-based Center for Strategic and International Studies said in an analysis.

    U.S. Secretary of State Marco Rubio congratulated Lee on his election win and said the countries “share an ironclad commitment to the Alliance grounded in our Mutual Defense Treaty, shared values, and deep economic ties.”

    He also said that the countries were “modernising the Alliance to meet the demands of today’s strategic environment and address new economic challenges.”

    The White House said the election of Lee was “free and fair” but the United States remained concerned and opposed to Chinese interference and influence in democracies around the world, according to a White House official.

    Lee has expressed more conciliatory plans for ties with China and North Korea, in particular singling out the importance of China as a major trading partner while indicating reluctance to take a firm stance on security tensions in the Taiwan strait.

    Still, Lee has pledged to continue Yoon’s engagement with Japan and said the alliance with the United States is the backbone of South Korea’s global diplomacy.

    The martial law decree and the six months of ensuing turmoil, which saw three different acting presidents and multiple criminal insurrection trials for Yoon and several top officials, marked a stunning political self-destruction for the former leader and a drag on an economy already slowing growth.

    (Reuters)

  • Musk calls Trump’s tax-cut and spending bill ‘a disgusting abomination’

    Source: Government of India

    Source: Government of India (4)

    Billionaire Elon Musk plunged on Tuesday into the congressional debate over President Donald Trump’s sweeping tax and spending bill, calling it a “disgusting abomination” that will increase the federal deficit.

    Several fiscally conservative Republicans in the U.S. Senate supported the views Musk expressed in social media posts, which could complicate the bill’s path to passage in that chamber.

    “I’m sorry, but I just can’t stand it anymore,” Tesla and SpaceX CEO Musk wrote in a post on his social media platform X. “This massive, outrageous, pork-filled Congressional spending bill is a disgusting abomination.”

    He added: “Shame on those who voted for it: you know you did wrong. You know it.”

    Musk’s comments hit a nerve. Republican deficit hawks have expressed concerns about the cost of the bill, which would extend the 2017 tax cuts that were Trump’s main legislative accomplishment, while boosting spending on the military and border security.

    The House of Representatives passed it by one vote last month, after the nonpartisan Congressional Budget Office said the measure would add $3.8 trillion to the federal government’s $36.2 trillion in debt.

    The Senate, also controlled by Trump’s Republicans, aims to pass the “One Big Beautiful Bill Act” in the next month, though senators are expected to revise the House version.

    Republicans on the Senate Finance Committee, which oversees tax policy, are due to meet with Trump at the White House on Wednesday afternoon to discuss making the bill’s business-related tax breaks permanent, according to Senator Steve Daines, a panel member. Analysts have warned that such a move would greatly increase the measure’s cost.

    Republican Senate Majority Leader John Thune said he disagreed with Musk’s assessment about the cost of the bill and stood by the goal of passage by July 4.

    “We have a job to do – the American people elected us to do. We have an agenda that everybody campaigned on, most notably the president of the United States, and we’re going to deliver on that agenda,” the South Dakota lawmaker told reporters.

    Republican House Speaker Mike Johnson also dismissed Musk’s complaints, telling reporters, “my friend Elon is terribly wrong.”

    TEST OF INFLUENCE

    Musk’s loud opposition to a bill that Trump has urged Republicans to pass presents a test of his political influence a week after leaving his formal role in the administration as a special government employee with the Department of Government Efficiency came to an end. As DOGE chief, he upended several federal agencies but ultimately failed to deliver the massive savings he had sought.

    The richest person in the world, Musk had spent nearly $300 million to back Trump’s presidential campaign and other Republicans in last year’s elections. But he has said he would cut his political spending substantially while returning to his role as Tesla TSLA.O CEO.

    The White House dismissed Tuesday’s attack, just as Trump dismissed earlier Musk complaints about the legislation.

    “Look, the president already knows where Elon Musk stood on this bill,” spokeswoman Karoline Leavitt said at a White House briefing. “It doesn’t change the president’s opinion. This is one big, beautiful bill, and he’s sticking to it.”

    REPUBLICAN DISAGREEMENTS

    Senate Republicans were divided about the bill even before Musk’s missives. Deficit hawks are pushing for deeper spending cuts than the $1.6 trillion over a decade in the House version, while another coalition of rural-state Republicans are pushing to protect the Medicaid healthcare program for low-income Americans.

    One of the hawks, Senator Mike Lee, called on party members to use the Trump bill and future spending measures to reduce the deficit.

    “We must commit now to doing so, as this is what voters justifiably expect – and indeed deserve – from the GOP Congress,” the Utah Republican said on X while reposting Musk’s message.

    Republicans have a 53-47 seat majority in the Senate and can afford to lose support from no more than three members, if they expect to pass the legislation with a tie-breaking vote from Vice President JD Vance by a July 4 deadline.

    Another hardliner, Senator Ron Johnson, predicted that lawmakers would not be able to meet the deadline and secure an adequate number of cuts.

    Lee and Johnson are among at least four Senate hardliners demanding that the bill be changed to restrict the growth of the debt and deficit.

    The faction of party lawmakers determined to limit spending cuts to project Medicaid beneficiaries and business investments in green energy initiatives is of similar size.

    “I certainly have an interest in making sure people with disabilities are not harmed. But also, there’s the broad issue of how does it affect hospital reimbursements,” Senator Jerry Moran told reporters.

    “There’s a set of my colleagues who are pushing to do more. And so it turns on how do you get the votes to pass a bill,” the Kansas Republican said.

    Other Senate Republicans said lawmakers may have to look elsewhere to boost savings, including the possibility of leaving Trump’s much touted tax break proposals for tips, overtime pay and Social Security benefits for later legislation.

    “Those are all Democrat priorities. I’m not sure why we shouldn’t be doing that in a potential bipartisan bill to create headspace for this bill,” said Republican Senator Thom Tillis.

    (Reuters)

  • ‘I’ll sleep like a baby’: Emotional Kohli fulfils 17-year dream with IPL triumph

    Source: Government of India

    Source: Government of India (4)

    Virat Kohli’s carefully crafted image of a snarling warrior melted away as the 36-year-old was reduced to an emotional wreck after Royal Challengers Bengaluru ended their 17-season wait for a maiden Indian Premier League (IPL) title on Tuesday.

    Bengaluru were effectively assured of victory in the final against Punjab Kings in Ahmedabad after Josh Hazlewood began the final over with two dot balls.

    As the broadcasters’ camera panned, it caught a teary-eyed Kohli covering his mouth with cupped hands in disbelief.

    As Bengaluru sealed a six-run victory, Kohli hunched over the turf and punched it in delight before being mobbed by teammates.

    “It’s been 18 long years,” an emotional Kohli, still with bloodshot eyes, told the broadcasters.

    “I’ve given this team my youth, my prime and my experience, and I’ve tried to win this every season…

    “To finally have this moment come true, it’s an unbelievable feeling. I never thought this day would come. I was overcome with emotions as soon as the last ball was bowled.”

    Kohli has been with Bengaluru since the inaugural edition of the league in 2008, including nine seasons as captain of a franchise that made the finals in 2009, 2011 and 2016 but lost on all three occasions.

    The relief was palpable as he hugged former Bengaluru teammate AB de Villiers.

    “I’ve stayed loyal to this team no matter what,” Kohli said.

    “I’ve had moments when I thought otherwise, but I stuck to this team. I stood behind them and they stood behind me.

    “I always dreamt of winning it with them, and this is far more special than winning it with anyone else…

    “This is the team I’m going to play for till the last day in IPL.”

    Kohli has won multiple World Cups with India but the IPL had remained an unticked box, until Tuesday.

    “I’m someone that wants to win the big tournaments, the big moments, and this one was missing. Tonight, I’m going to sleep like a baby,” he said.

    “There is an end date to our career. By the time that I hang up my boots, I want to sit at home and say ‘I gave it everything I had’.”

    (Reuters)

  • Alcaraz bludgeons Paul to reach French Open semis, Swiatek to face Sabalenka

    Source: Government of India

    Source: Government of India (4)

    Defending champion Carlos Alcaraz steamrolled past American 12th-seed Tommy Paul 6-0 6-1 6-4 at the French Open on Tuesday with a jaw-dropping display of attacking tennis in one of the most one-sided men’s quarter-finals in Paris in recent memory.

    Four-time champion Iga Swiatek, who is looking to become the first woman in the professional era to win four consecutive titles in Paris, also punched her semi-final ticket with a straight sets win over Elina Svitolina of Ukraine to set up a mouth-watering semi-final with world number one Aryna Sabalenka.

    But it was four-time Grand Slam champion Alcaraz’s merciless dismantling of Paul that grabbed the fans’ attention, with the 22-year-old Spaniard terrorising the former French Open junior champion who looked like a fish out of water.

    Alcaraz charged through the first two sets in just 53 minutes and in near flawless fashion, hitting winners at will and chasing down every ball before the shell-shocked American had any time to react.

    Paul pulled himself together to hold serve and go 4-3 up in the third but as the sun gradually went down over Paris so did the curtain on his inspired run, with Alcaraz winning three games in a row to put him out of his misery in just 94 minutes.

    “I could close my eyes and everything went in,” Alcaraz said. “My feeling was unbelievable. I tried to hit the shots 100% and not think about it.”

    “Today it was one of those matches where everything went in,” he said.

    He will next take on in-form Italian Lorenzo Musetti who battled past American Frances Tiafoe in four sets after surviving a second-set wobble, to reach the French Open semi-finals for the first time.

    MUSETTI WARNING

    Musetti, the world number seven, who escaped with a warning for unsportsmanlike conduct when he kicked a ball at a line judge, eventually overran 15th seed Tiafoe.

    “Honestly it was really unlucky coincidence,” said Musetti of the incident.

    “I was a little bit scared, because I really didn’t want to harm nobody, of course. So I immediately went to the line umpire, and I of course said, ‘sorry’, I apologise to everyone.”

    “It was right to have a warning, but I think the umpire saw that there was no intention about that, and that’s why probably just, you know, let me continue my game.”

    That occurred in the second set when Musetti, the only man to reach at least the semi-finals of every main claycourt event this season, was given balls to serve.

    He kicked one to inadvertently hit the line judge, who barely flinched even though she was hit on her upper body.

    Grand Slam rules state that players are issued a warning at first instance for any ball abuse. Tiafoe, however, called it ‘comical’ that there was no serious punishment.

    “I mean, obviously he did that and nothing happened,” said Tiafoe, who had looked surprised and pointed out the incident to the chair umpire.

    “I think that’s comical, but it is what it is. Nothing happened, so there’s nothing really to talk about. Obviously it’s not consistent, so it is what it is.”

    Earlier, and in front of a sparse crowd around lunchtime, Swiatek braved the windy conditions to beat Svitolina 6-1 7-5.

    Although Swiatek failed to win a title going into the tournament this season, she looks to have rediscovered her remarkable claycourt form in Paris, stretching her winning run at the French Open to 26 consecutive matches following her title three-peat between 2022-24 to add to her 2020 crown.

    Three-time Grand Slam champion Sabalenka, hunting her first French Open crown, also needed just two sets to overcome Olympic champion Zheng Qinwen and snap her opponent’s 10-match winning streak at Roland Garros with a 7-6(3) 6-3 victory.

    “I think we’re all here for one reason,” Sabalenka said. “Everyone wants that beautiful trophy. I’m glad I have another opportunity, another semi-final to do better than last time.”

    “I really hope that by the end of the claycourt season I’m really proud of myself.”

    (Reuters)

     

  • RCB win maiden IPL title to shed underachievers tag

    Source: Government of India

    Source: Government of India (4)

    Royal Challengers Bengaluru and their talisman Virat Kohli ended a 17-season drought by winning their maiden Indian Premier League (IPL) title, beating Punjab Kings by six runs in the final in Ahmedabad on Tuesday.

    Bengaluru posted a modest 190-9 with Kohli, their leading scorer this season, top scoring for them with a composed 43.

    It was, however, their lion-hearted bowling which secured their win after they restricted Punjab to 184-7 despite Shashank Singh’s unbeaten 61 off 30 balls.

    Kohli was in tears once he realised Bengaluru were about to shed the underachievers tag that has stuck to them since the inaugural 2008 edition of the league.

    “I think it is really special for me and special for Virat Kohli and all the fans who have supported for years. They deserve it,” Bengaluru captain Rajat Patidar said.

    “I think 190 was a good score on this track because it was a bit slow. The way the bowlers executed their plans was tremendous to watch.”

    Put in to bat at a heaving Narendra Modi Stadium, Bengaluru could not stitch together significant partnerships and fell short of the 200-mark.

    Kohli anchored their innings but Bengaluru could never really break loose.

    Bengaluru were 87-2 at the midway stage but with enough overs left for other players to bat around Kohli.

    Azmatullah Omarzai deceived Kohli with a bouncer and took a running, tumbling return catch to dismiss the batter.

    Jitesh Sharma’s 24 off 10 balls injected some momentum into Bengaluru’s stop-start innings and Liam Livingstone made 25 but the side could not really capitalise in the death overs.

    Punjab’s Kyle Jamieson claimed 3-48, while his new ball partner Arshdeep Singh bowled an excellent three-wicket final over, conceding only three runs.

    Punjab got off to a rollicking start in their chase and opener Prabhsimran Singh, then on nine, was lucky to be spilled in the deep by Romario Shepherd.

    Josh Hazlewood, the luckless Bengaluru bowler, did not have to wait long for success though, as Phil Salt took a stunning catch in the deep to remove Priyansh Arya (24) and break the 43-run opening stand.

    Krunal Pandya removed Prabhsimran and Shepherd redeemed himself by dismissing Punjab’s in-form captain Shreyas Iyer to turn the match on its head.

    Player-of-the-match Pandya put Bengaluru on top when he dismissed the dangerous Josh Inglis (39) and Bhuvneshwar Kumar effectively sealed the match in Bengaluru’s favour when he dismissed Nehal Wadhera and Marcus Stoinis in the same over.

    “I am very proud of each and every individual in this team,” Punjab captain Iyer said.

    “There are a lot of youngsters who are playing their first season, they’ve shown a lot of fearlessness.

    “We have to be here and win the trophy next year.”

    (Reuters)

  • MIL-OSI Banking: Money Market Operations as on June 03, 2025

    Source: Reserve Bank of India
    (Amount in ₹ crore, Rate in Per cent)
      Volume
    (One Leg)    		 Weighted
    Average Rate    		 Range
    A. Overnight Segment (I+II+III+IV) 5,89,368.22 5.63 4.00-6.65
         I. Call Money 14,292.98 5.77 4.85-6.65
         II. Triparty Repo 3,94,520.60 5.59 5.40-5.77
         III. Market Repo 1,79,199.44 5.68 4.00-5.90
         IV. Repo in Corporate Bond 1,355.20 5.92 5.85-6.60
    B. Term Segment      
         I. Notice Money** 122.50 5.66 5.40-5.70
         II. Term Money@@ 278.00 – 5.70-6.10
         III. Triparty Repo 1,881.50 5.68 5.64-5.80
         IV. Market Repo 0.00 – –
         V. Repo in Corporate Bond 0.00 – –
      Auction Date Tenor (Days) Maturity Date Amount Current Rate /
    Cut off Rate
    C. Liquidity Adjustment Facility (LAF), Marginal Standing Facility (MSF) & Standing Deposit Facility (SDF)
    I. Today’s Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo Tue, 03/06/2025 1 Wed, 04/06/2025 5,019.00 6.01
         (b) Reverse Repo          
    3. MSF# Tue, 03/06/2025 1 Wed, 04/06/2025 447.00 6.25
    4. SDFΔ# Tue, 03/06/2025 1 Wed, 04/06/2025 3,14,265.00 5.75
    5. Net liquidity injected from today’s operations [injection (+)/absorption (-)]*       -3,08,799.00  
    II. Outstanding Operations
    1. Fixed Rate          
    2. Variable Rate&          
      (I) Main Operation          
         (a) Repo          
         (b) Reverse Repo          
      (II) Fine Tuning Operations          
         (a) Repo          
         (b) Reverse Repo          
    3. MSF#          
    4. SDFΔ#          
    D. Standing Liquidity Facility (SLF) Availed from RBI$       8,272.43  
    E. Net liquidity injected from outstanding operations [injection (+)/absorption (-)]*     8,272.43  
    F. Net liquidity injected (outstanding including today’s operations) [injection (+)/absorption (-)]*     -3,00,526.57  
    G. Cash Reserves Position of Scheduled Commercial Banks
         (i) Cash balances with RBI as on June 03, 2025 9,48,458.20  
         (ii) Average daily cash reserve requirement for the fortnight ending June 13, 2025 9,41,551.00  
    H. Government of India Surplus Cash Balance Reckoned for Auction as on¥ June 03, 2025 5,019.00  
    I. Net durable liquidity [surplus (+)/deficit (-)] as on May 16, 2025 3,48,763.00  
    @ Based on Reserve Bank of India (RBI) / Clearing Corporation of India Limited (CCIL).
    – Not Applicable / No Transaction.
    ** Relates to uncollateralized transactions of 2 to 14 days tenor.
    @@ Relates to uncollateralized transactions of 15 days to one year tenor.
    $ Includes refinance facilities extended by RBI.
    & As per the Press Release No. 2019-2020/1900 dated February 06, 2020.
    Δ As per the Press Release No. 2022-2023/41 dated April 08, 2022.
    * Net liquidity is calculated as Repo+MSF+SLF-Reverse Repo-SDF.
    ¥ As per the Press Release No. 2014-2015/1971 dated March 19, 2015.
    # As per the Press Release No. 2023-2024/1548 dated December 27, 2023.
    Ajit Prasad          
    Deputy General Manager
    (Communications)    
    Press Release: 2025-2026/472

    MIL OSI Global Banks –

  • MIL-OSI: Hong Kong and New Zealand, the easiest jurisdictions for doing business in APAC, says GBCI 2025

    Source: GlobeNewswire (MIL-OSI)

    LONDON, June 04, 2025 (GLOBE NEWSWIRE) — The Global Business Complexity Index (GBCI), recently launched by TMF Group, analyses the business environment of 79 jurisdictions, accounting for 94% of the world’s GDP. It also ranks them based on over 250 indicators of business complexity, with the jurisdiction ranked 1st as the most complex and the jurisdiction ranked 79th, the least.

    Among the world’s 10 least complex jurisdictions for doing business, Hong Kong, SAR remains the 4rth easiest jurisdiction for the second year in a row. The jurisdiction offers a favourable business environment, characterised by a straightforward and low tax regime that appeals to international businesses.

    New Zealand, also included in the 10 easiest jurisdictions worldwide, maintains its reputation as a straightforward place for business operations. This is largely due to the government’s proactive approach in welcoming foreign investments and streamlined administrative processes.

    Meanwhile, business complexity in India (18th) is mainly driven by recent regulatory changes, according to this year’s GBCI report. Over the past year, India has introduced numerous regulatory amendments aimed at boosting transparency and accountability. Although these are expected to bring benefits in the long term, they have added layers of complexity for businesses operating in the country, requiring constant adaptation to new compliance needs.

    Japan is ranked 43rd in this year’s GBCI, showing a decrease in complexity from last year’s position (38th). This decrease in complexity is partly due to recent simplifications and governmental initiatives to provide English-language support to international financial service companies. These measures facilitate easier operations and reduce barriers for foreign businesses, improving investment attractiveness.

    Singapore, ranking 48th, continues to demonstrate resilience and adaptability in its trade corridors. This jurisdiction invests heavily in technology and infrastructure upgrades, reinforcing its status as a regional hub.

    China’s Mainland (10th) enters the top 10 most complex jurisdictions for businesses in 2025. According to the report, the complexity is driven by its frequent regulatory changes and regional disparities. Despite these challenges, the government continues to offer incentives to attract investment and to promote infrastructure development to enhance trade logistics.

    TMF Group’s Head of APAC, Shagun Kumar, commented: “We’re seeing a growing effort by decision-makers and businesses across APAC to reduce unnecessary burdens for doing business in the region — these have in the past delayed development, leading to complex evaluations for investment. Such efforts contribute to unlocking the region’s drive towards economic growth, and we expect businesses to adapt and continue to leverage the potential of APAC as a key contributor for their global strategies.”

    Top and bottom ten (1= most complex, 79= least complex) 
    1. Greece  79. Cayman Islands 
    2. France  78. Denmark 
    3. Mexico  77. New Zealand 
    4. Turkey  76. Hong Kong, SAR 
    5. Colombia  75. Jersey 
    6. Brazil  74. Netherlands 
    7. Italy  73. Jamaica 
    8. Bolivia  72. British Virgin Islands 
    9. Kazakhstan  71. Curaçao 
    10. China’s Mainland  70. Czech Republic 
       

    Media Contacts
    Marina Llibre Martin
    marina.llibremartin@tmf-group.com

    The MIL Network –