Blasts heard in Sanaa as Saudi-led coalition warns civilians to evacuate; Houthis vow retaliation

China's counter-surveillance industry booms amid heightened espionage fears | Gravitas

Saudi Arabia strikes Yemen oil sites as Houthi missiles target Riyadh; 'limited fire' breaks out at Aramco

Navratri 2026: 9 days, 9 forms of Goddess Durga and 9 colours- Check the complete list

Trump accuses Houthis of driving up oil prices before US midterms, warns of consequences

New Delhi rejects Beijing’s claims and remarks on Ladakh location naming exercise

Russian woman and Bihar boy's love story goes viral after she reaches India to marry him

US Midterms 2026: In Alaska, cost-of-living anxiety meets strangest ballot in high-stakes Senate race

CMs Vijay-Naidu meet in Vijayawada, discuss water sharing, river-linking

'Don't ever mess with nature!': Trump’s tiger attack post triggers social media backlash as victim's family issues heartbreaking tribute

OpenAI employee arrested by FBI after allegedly hiding recording device in office

1,500 drones illuminate Mumbai sky as Cordelia Cruises unveils second ship, Cordelia Sky

Ranabaali: Vijay Deverakonda, Rashmika Mandanna film gets U/A certificate with zero cuts

Delhi Police arrest Cockroach Janta Party's Saurav Das, Ashutosh Ranka, Ajinkya Shinde in Jantar Mantar case, to be produced before court

Pope Leo XIV diagnosed with lung cancer after surgery, Vatican says 'successful surgery and recovering'

Pakistan to chair UN-backed global Borrowers’ Platform as its own debt burden mounts, triggers sarcastic reactions on social media

Robot gropes girl, makes thrusting movements in bizarre crime in Germany

France accuses Musk of ‘online harassment’ of European leaders, warns of poll interference

MI5 chief warns Russia is UK’s ‘aggressor number one’ as Iran and AI threats grow

'Turn approver, resign, we'll forgive you': Rahul Gandhi claims receiving messages from CEC Gyanesh Kumar

Trump reconsidering calling off Nidal Hasan's execution livestream. Here's why

‘My president, I mean my husband’: Trump's new press secretary Katie Zacharia's first briefing goes off the rails in 14 minutes

‘How many people did she illegally bring from Somalia?’ Trump targets Ilhan Omar, questions her net worth

Marco Rubio to visit India next week, focus on energy cooperation and strategic ties

Is the AI chip boom already over? Global semiconductor stocks slide as investors question unbridled spending

L Murugan resigns as Union Minister, expresses wish to return to grassroots

'Ouch!!! That must hurt': Kangana Ranaut hails Kamal Haasan's sharp reply to Elon Musk over Starlink row

Girl 'dead' for 8 hours wakes up at her own funeral, dad insists she wasn't breathing

Sidhu Moose Wala’s younger brother wins hearts by recreating late singer’s signature move at Toronto Hologram Show

UK school ditches technology, shifts from screen to pen and paper for learning

New OTT releases this week (October 12-18, 2026): Sacrifice, Koffee with Karan S9, Roadies Rebirth- 6 titles coming on Netflix, JioHotstar and more

Anupam Kher joins Ranbir Kapoor's Ramayana as Jatayu, new poster unveiled

Measles kills again: 6 dead in Pennsylvania as America faces its worst outbreak in decades | Gravitas

Ken Paxton's Dubai night out with two US fugitives sparks political storm as Texas Senate race tightens

Cornell University suspends fraternity parties over 2024 gang rape allegations

A recent study by the Kiel Institute for World Economy finds that closer EU-India economic integration could lift bilateral trade by 41 to 65 per cent, significantly increasing ties between the two partners amid growing global trade fragmentation. Both the regions together make up 21.1 per cent of global GDP and 23.4 per cent of the world's population.&nbsp;The study by the Institute suggests that this deeper integration would boost bilateral trade, along with the expected upsurge of the real incomes by 0.12 to 0.13 per cent of GDP on both sides, while reducing reliance on risk-prone markets, according to a report in the news agency ANI.<h3>EU–India trade surges nearly 90%</h3>EU–India trade has surged nearly 90 per cent over the past decade, with EU exports touching 48.8 billion euros in 2024. Yet, steep Indian tariffs—some as high as 150 per cent- continue to hinder European market access, even as around 6,000 EU companies already operate in India.&nbsp;"India is one of the fastest-growing major markets in the world, but it remains highly protected," says Julian Hinz, Research Director at the Kiel Institute for the World Economy. "A comprehensive EU-India trade agreement would open substantial parts of the economy, strengthen supply chains, and reduce vulnerability to geopolitical shocks," Julian Hinz added.&nbsp;Model simulations indicated that the Indian exports with this deal could increase by 41 per cent, with EU and EU exports to India by 65 per cent. The agreement is projected to generate annual income gains of roughly 22 billion euros ($26.3 billion) for the EU and 4.2 billion euros ($4.73 billion) for India, with the largest advantages expected in sectors such as IT services, textiles, chemicals, machinery and food processing.&nbsp;The timing is significant, as India is grappling with steep US tariffs of up to 50 per cent imposed in 2025, which have dampened trade flows. Analysts say the EU–India deal could offer much-needed stability amid escalating global trade tensions.&nbsp;"Against this backdrop, the EU-India agreement would act as a stabiliser," says Vasundhara Thakur, researcher at the Kiel Institute. "It provides an insurance mechanism against global trade turmoil and sends a strong signal that rules-based trade cooperation still works," Thakur added.&nbsp;Also read: <a href="https://www.wionews.com/world/amazon-to-fire-16-000-employees-us-based-staff-will-get-90-days-to-look-for-new-roles-details-here-1769602191793">Amazon to fire 16,000 employees, US-based staff will get 90 days to look for new roles. Details here</a>

The study by the Institute suggests that this deeper integration would boost bilateral trade, along with the expected upsurge of the real incomes by 0.12 to 0.13 per cent of GDP on both sides, while reducing reliance on risk-prone markets.

A recent study by the Kiel Institute for World Economy finds that closer EU-India economic integration could lift bilateral trade by 41 to 65 per cent, significantly increasing ties between the two partners amid growing global trade fragmentation. Both the regions together make up 21.1 per cent of global GDP and 23.4 per cent of the world's population. The study by the Institute suggests that this deeper integration would boost bilateral trade, along with the expected upsurge of the real incomes by 0.12 to 0.13 per cent of GDP on both sides, while reducing reliance on risk-prone markets, according to a report in the news agency ANI. EU–India trade surges nearly 90% EU–India trade has surged nearly 90 per cent over the past decade, with EU exports touching 48.8 billion euros in 2024. Yet, steep Indian tariffs—some as high as 150 per cent- continue to hinder European market access, even as around 6,000 EU companies already operate in India. "India is one of the fastest-growing major markets in the world, but it remains highly protected," says Julian Hinz, Research Director at the Kiel Institute for the World Economy. "A comprehensive EU-India trade agreement would open substantial parts of the economy, strengthen supply chains, and reduce vulnerability to geopolitical shocks," Julian Hinz added. Model simulations indicated that the Indian exports with this deal could increase by 41 per cent, with EU and EU exports to India by 65 per cent. The agreement is projected to generate annual income gains of roughly 22 billion euros ($26.3 billion) for the EU and 4.2 billion euros ($4.73 billion) for India, with the largest advantages expected in sectors such as IT services, textiles, chemicals, machinery and food processing. The timing is significant, as India is grappling with steep US tariffs of up to 50 per cent imposed in 2025, which have dampened trade flows. Analysts say the EU–India deal could offer much-needed stability amid escalating global trade tensions. "Against this backdrop, the EU-India agreement would act as a stabiliser," says Vasundhara Thakur, researcher at the Kiel Institute. "It provides an insurance mechanism against global trade turmoil and sends a strong signal that rules-based trade cooperation still works," Thakur added. Also read: Amazon to fire 16,000 employees, US-based staff will get 90 days to look for new roles. Details here

The study by the Institute suggests that this deeper integration would boost bilateral trade, along with the expected upsurge of the real incomes by 0.12 to 0.13 per cent of GDP on both sides, while reducing reliance on risk-prone markets.

EU–India FTA could boost bilateral trade by up to 65%, incomes to rise: Report

Amazon was reported to slash around 16,000 jobs in its latest round of layoffs in the tech industry. &nbsp;A senior vice president at the e-commerce giant, Beth Galetti, announced the decision on Wednesday (Jan 28) via a blog post, which was sent to the employees. This came after a round of layoffs in October last year when Amazon fired 14,000 workers.&nbsp;Also read: <a href="https://www.wionews.com/world/us-vs-iran-america-offers-15mn-in-reward-for-information-about-the-irgc-s-oil-transfers-details-inside-1769516715631">US vs Iran: America offers $15mn in reward for ‘information about the IRGC's oil transfers’. Details inside</a>&nbsp;"Some of you might ask if this is the beginning of a new rhythm – where we announce broad reductions every few months. That's not our plan," Galetti said, CBS News reported.&nbsp;"But just as we always have, every team will continue to evaluate the ownership, speed, and capacity to invent for customers, and make adjustments as appropriate. That's never been more important than it is today in a world that's changing faster than ever," she added.&nbsp;Also read: <a href="https://www.wionews.com/world/if-their-soil-sky-or-waters-are-used-against-iran-irgc-s-warning-to-neighbouring-nations-says-they-ll-be-considered-hostile-1769541085343">‘If their soil, sky, or waters are used against Iran...’: IRGC’s warning to neighbouring nations, says they’ll be considered ‘hostile’</a>&nbsp;"While we're making these changes, we'll also continue hiring and investing in strategic areas and functions that are critical to our future. We're still in the early stages of building every one of our businesses, and there's significant opportunity ahead," she further said.&nbsp;Also read: <a href="https://www.wionews.com/world/us-under-state-of-emergency-as-extremely-dangerous-winter-storm-hits-america-millions-at-risk-details-inside-1769264055230">US under ‘State of Emergency’ as ‘extremely dangerous’ winter storm hits America; millions at risk. Details inside</a>&nbsp;She also said that the US-based staff would be allotted a time frame of 90 days to look for a new role. They will be offered severance pay, outplacement services, and health insurance benefits.&nbsp;Also read: <a href="https://www.wionews.com/world/-we-iranians-know-how-to-defend-ourselves-iran-fm-lashes-out-at-confused-clown-zelensky-over-his-remark-on-tehran-1769277845979">‘We Iranians know how to defend ourselves’: Iran FM lashes out at ‘confused clown’ Zelensky over his remark on Tehran</a>

Amazon will lay off around 16,000 employees in a fresh round of job cuts, offering US-based staff 90 days to find new roles along with severance, benefits, and continued strategic hiring.

Amazon was reported to slash around 16,000 jobs in its latest round of layoffs in the tech industry. A senior vice president at the e-commerce giant, Beth Galetti, announced the decision on Wednesday (Jan 28) via a blog post, which was sent to the employees. This came after a round of layoffs in October last year when Amazon fired 14,000 workers. Also read: US vs Iran: America offers $15mn in reward for ‘information about the IRGC's oil transfers’. Details inside "Some of you might ask if this is the beginning of a new rhythm – where we announce broad reductions every few months. That's not our plan," Galetti said, CBS News reported. "But just as we always have, every team will continue to evaluate the ownership, speed, and capacity to invent for customers, and make adjustments as appropriate. That's never been more important than it is today in a world that's changing faster than ever," she added. Also read: ‘If their soil, sky, or waters are used against Iran...’: IRGC’s warning to neighbouring nations, says they’ll be considered ‘hostile’ "While we're making these changes, we'll also continue hiring and investing in strategic areas and functions that are critical to our future. We're still in the early stages of building every one of our businesses, and there's significant opportunity ahead," she further said. Also read: US under ‘State of Emergency’ as ‘extremely dangerous’ winter storm hits America; millions at risk. Details inside She also said that the US-based staff would be allotted a time frame of 90 days to look for a new role. They will be offered severance pay, outplacement services, and health insurance benefits. Also read: ‘We Iranians know how to defend ourselves’: Iran FM lashes out at ‘confused clown’ Zelensky over his remark on Tehran

Amazon will lay off around 16,000 employees in a fresh round of job cuts, offering US-based staff 90 days to find new roles along with severance, benefits, and continued strategic hiring.

Amazon to fire 16,000 employees, US-based staff will get 90 days to look for new roles. Details here

Prime Minister Narendra Modi and European Commission President Ursula von der Leyen concluded the India–European Union Free Trade Agreement (India–EU FTA) at the 16th India–EU Summit on Tuesday. The announcement marks a historic development in India–EU economic relations and trade engagement with important global partners.&nbsp;The FTA concluded with the commitment by India and the European Union to open markets, predictability, and inclusive growth. It comes after years of sustained dialogue and cooperation between India and the EU, which demonstrate the political will and shared vision to deliver a balanced, modern, and rules-based economic and trade partnership.&nbsp;In a press release, the Ministry of Commerce and Industry stated that the India-EU trade pact includes trade in goods, services, trade remedies, rules of origin, customs and trade facilitation, along with the emerging areas such as SMEs and digital trade, amongst others.&nbsp;The India–EU FTA delivers a major push to labour-intensive sectors, including textiles, apparel, leather, footwear, marine products, gems and jewellery, handicrafts, engineering goods and automobiles, cutting tariffs of up to 10% to zero on nearly $33 billion worth of exports once the pact takes effect.&nbsp;In automobiles, a carefully structured, quota-based liberalisation will enable EU carmakers to introduce higher-end models in India, while creating scope for Make in India manufacturing and future exports. Indian buyers stand to gain from advanced technology and stronger competition, even as reciprocal access opens doors for India-made vehicles in the EU market.&nbsp;The agreement is set to significantly uplift agriculture and processed foods by ensuring fairer conditions for farmers and agri-businesses. Beyond tariff cuts, it addresses non-tariff barriers through deeper regulatory cooperation, improved transparency, smoother customs processes, and streamlined SPS and technical standards.&nbsp;Under CBAM-related commitments, the deal secures forward-looking MFN assurances, technical cooperation on carbon pricing and verification, and financial and targeted support to help reduce emissions and meet evolving carbon norms.With services forming the fastest-growing segment of both economies, the FTA enhances certainty of access, non-discriminatory treatment, digital trade, and mobility—strengthening prospects for India’s services exports.<h3>Trade talks include sectors like IT, AI &amp; financial services</h3>The FTA locks in broader, commercially meaningful commitments from the EU in sectors where India holds strong advantages, such as IT and IT-enabled services, professional services, education, financial services, tourism, construction, and other business activities.&nbsp;Guaranteed and predictable access to 144 EU subsectors—including IT/ITeS, professional, business and education services—will strengthen Indian service providers’ ability to deliver competitive, world-class offerings to European consumers. In return, EU access to 102 Indian subsectors is expected to attract high-tech services and investment into India, creating a win-win framework.&nbsp;On mobility, the pact establishes a clear and facilitative system for short-term, temporary and business travel in both directions, allowing professionals to move between the two markets to deliver services. Both sides have committed to mobility for intra-corporate transferees and business visitors, along with entry and work rights for their dependents.&nbsp;Additionally, the EU has opened 37 sectors for contractual service suppliers and 17 for independent professionals, including areas of key interest to India such as professional, IT-related, R&amp;D and education services. Now, the FTA promotes cooperation to advance innovation and global-level electronic payments in financial services, while providing India with increased market access across multiple major EU member states. These provisions are likely to deepen financial integration and support the growth of financial services trade.&nbsp;These commitments reinforce India’s position as a global hub for talent, innovation, and sustainable economic growth, along with the unlocking of high-value employment opportunities. The FTA is set to deepen cooperation in strategic fields such as Artificial Intelligence, clean technologies, and semiconductors, supporting India's technological advancement. It is also expected to significantly expand trade, improve export competitiveness, and embed Indian companies more deeply into the European and global value chains. &nbsp;

The FTA concluded with the commitment by India and the European Union to open markets, predictability, and inclusive growth. It comes after years of sustained dialogue and cooperation between India and the EU, which demonstrate the political will and shared vision.

Prime Minister Narendra Modi and European Commission President Ursula von der Leyen concluded the India–European Union Free Trade Agreement (India–EU FTA) at the 16th India–EU Summit on Tuesday. The announcement marks a historic development in India–EU economic relations and trade engagement with important global partners. The FTA concluded with the commitment by India and the European Union to open markets, predictability, and inclusive growth. It comes after years of sustained dialogue and cooperation between India and the EU, which demonstrate the political will and shared vision to deliver a balanced, modern, and rules-based economic and trade partnership. In a press release, the Ministry of Commerce and Industry stated that the India-EU trade pact includes trade in goods, services, trade remedies, rules of origin, customs and trade facilitation, along with the emerging areas such as SMEs and digital trade, amongst others. The India–EU FTA delivers a major push to labour-intensive sectors, including textiles, apparel, leather, footwear, marine products, gems and jewellery, handicrafts, engineering goods and automobiles, cutting tariffs of up to 10% to zero on nearly $33 billion worth of exports once the pact takes effect. In automobiles, a carefully structured, quota-based liberalisation will enable EU carmakers to introduce higher-end models in India, while creating scope for Make in India manufacturing and future exports. Indian buyers stand to gain from advanced technology and stronger competition, even as reciprocal access opens doors for India-made vehicles in the EU market. The agreement is set to significantly uplift agriculture and processed foods by ensuring fairer conditions for farmers and agri-businesses. Beyond tariff cuts, it addresses non-tariff barriers through deeper regulatory cooperation, improved transparency, smoother customs processes, and streamlined SPS and technical standards. Under CBAM-related commitments, the deal secures forward-looking MFN assurances, technical cooperation on carbon pricing and verification, and financial and targeted support to help reduce emissions and meet evolving carbon norms. With services forming the fastest-growing segment of both economies, the FTA enhances certainty of access, non-discriminatory treatment, digital trade, and mobility—strengthening prospects for India’s services exports. Trade talks include sectors like IT, AI & financial services The FTA locks in broader, commercially meaningful commitments from the EU in sectors where India holds strong advantages, such as IT and IT-enabled services, professional services, education, financial services, tourism, construction, and other business activities. Guaranteed and predictable access to 144 EU subsectors—including IT/ITeS, professional, business and education services—will strengthen Indian service providers’ ability to deliver competitive, world-class offerings to European consumers. In return, EU access to 102 Indian subsectors is expected to attract high-tech services and investment into India, creating a win-win framework. On mobility, the pact establishes a clear and facilitative system for short-term, temporary and business travel in both directions, allowing professionals to move between the two markets to deliver services. Both sides have committed to mobility for intra-corporate transferees and business visitors, along with entry and work rights for their dependents. Additionally, the EU has opened 37 sectors for contractual service suppliers and 17 for independent professionals, including areas of key interest to India such as professional, IT-related, R&D and education services. Now, the FTA promotes cooperation to advance innovation and global-level electronic payments in financial services, while providing India with increased market access across multiple major EU member states. These provisions are likely to deepen financial integration and support the growth of financial services trade. These commitments reinforce India’s position as a global hub for talent, innovation, and sustainable economic growth, along with the unlocking of high-value employment opportunities. The FTA is set to deepen cooperation in strategic fields such as Artificial Intelligence, clean technologies, and semiconductors, supporting India's technological advancement. It is also expected to significantly expand trade, improve export competitiveness, and embed Indian companies more deeply into the European and global value chains.

The FTA concluded with the commitment by India and the European Union to open markets, predictability, and inclusive growth. It comes after years of sustained dialogue and cooperation between India and the EU, which demonstrate the political will and shared vision.

India–EU FTA concluded: Markets open, tariffs cut, services in trade, auto & tech expanded; Check who gains & what changes

India and the European Union (EU) on Tuesday (January 27) unveiled what officials are calling a landmark free trade agreement, one that is unlikely to sit well with US President Donald Trump. The deal brings together a bloc Trump has repeatedly criticised and pressured, and a country he has sought to strong-arm with steep tariffs. Trump, who has openly mocked Europe and clashed with it over issues ranging from defence spending to his controversial Greenland ambitions, is also locked in a tense trade standoff with India.&nbsp;Compounding Trump’s irritation, the European Union has also paused progress on its own trade agreement with the United States. The symbolism is hard to miss: Europe and India, both targets of Trump’s tariff threats, have instead chosen to deepen ties with each other.&nbsp;Signs of Washington’s discomfort surfaced on Monday when US Treasury Secretary Scott Bessent accused Europe of indirectly financing the Russia-Ukraine war by importing energy routed through India. Speaking to ABC News, Bessent pointed out that the US had imposed 25% tariffs on India over Russian oil purchases, only for Europe to finalise a trade pact with New Delhi days later.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/watch-loyal-till-the-end-pitbull-guards-teen-s-body-for-four-days-in-himachal-snow-1769510488560">WATCH | Loyal till the end: Pitbull guards teen’s body for four days in Himachal snow</a>&nbsp;What Bessent did not acknowledge is that Trump’s own trade tactics may have accelerated the deal. Negotiations between India and the EU have dragged on for nearly two decades. It was the growing uncertainty created by US tariffs, export controls, and diplomatic friction that finally pushed both sides to close ranks. Prime Minister Modi alluded to this global disruption while announcing the agreement. Without naming Trump, he noted that the international order was in flux and that the India-EU deal could help bring stability.<h2>How Trump’s pressure backfired</h2>India is currently facing combined US tariffs of 50%—25% under reciprocal measures and another 25% linked to Russian oil imports. Over the past year, Trump and his allies have repeatedly criticised India, branding it a conduit for Moscow and even framing the Ukraine conflict as “Modi’s war.” The pressure was aimed at forcing India into a trade deal tilted heavily in America’s favour.&nbsp;New Delhi, however, chose restraint over retaliation. While refusing to bow to US demands, India avoided direct attacks on Trump himself. Europe’s experience has been similar. Trump’s aggressive rhetoric, threats of additional tariffs, and anger over EU resistance to his Greenland proposal have strained transatlantic ties. In response, Brussels shelved its trade talks with Washington, while several European countries declined to participate in Trump-backed diplomatic initiatives in West Asia.&nbsp;<a href="https://www.wionews.com/videos/white-house-confirms-trump-s-diplomatic-push-amid-europe-russia-tensions-1769512874157/embed">https://www.wionews.com/videos/white-house-confirms-trump-s-diplomatic-push-amid-europe-russia-tensions-1769512874157/embed</a><h2>Why the India-EU deal matters?</h2>For India, the agreement sends a clear message: it will not negotiate under duress. In recent months, New Delhi has concluded trade deals with the UK, New Zealand, and Oman, reinforcing its intent to diversify partnerships. India’s negotiating stance reflects an understanding that Trump responds to leverage, not submission. Unlike Canada, where trade talks with China were frozen after Trump threatened 100% tariffs, India has stayed the course.&nbsp;The EU, for its part, accommodated India’s long-standing sensitivities by excluding agriculture and dairy from the pact, safeguarding Indian farmers. This stands in contrast to US demands for deep access to these politically sensitive sectors. While European leaders have expressed unease over India’s ties with Russia, they have largely avoided public ultimatums or sanctions. That tone helped keep negotiations on track.&nbsp;India, now the world’s fourth-largest economy, offers Europe a vast and steadily expanding market. Despite occasional disagreements, New Delhi has refrained from publicly pressuring or embarrassing Brussels—an approach that paid dividends. The agreement, set to take effect next year, promises significant gains on both sides. Indian exporters in labour-intensive sectors such as textiles, chemicals, gems, and jewellery, hit hard by US tariffs, will gain preferential or duty-free access to European markets.&nbsp;The EU is already India’s largest trading partner. Under the FTA, duties will be eliminated on more than 90% of traded goods, while services sectors like telecom and accounting will see reduced barriers. Europe also stands to benefit from India’s decision to slash tariffs on imported EU cars to 40%, down from levels as high as 110%. This opens the door wider for manufacturers such as Volkswagen, Mercedes-Benz, and BMW in the world’s third-largest automobile market by volume.

Why the India-EU ‘mother of all’ trade deal is bad news for US President Donald Trump

India and the European Union (EU) on Tuesday (January 27) unveiled what officials are calling a landmark free trade agreement, one that is unlikely to sit well with US President Donald Trump. The deal brings together a bloc Trump has repeatedly criticised and pressured, and a country he has sought to strong-arm with steep tariffs. Trump, who has openly mocked Europe and clashed with it over issues ranging from defence spending to his controversial Greenland ambitions, is also locked in a tense trade standoff with India. Compounding Trump’s irritation, the European Union has also paused progress on its own trade agreement with the United States. The symbolism is hard to miss: Europe and India, both targets of Trump’s tariff threats, have instead chosen to deepen ties with each other. Signs of Washington’s discomfort surfaced on Monday when US Treasury Secretary Scott Bessent accused Europe of indirectly financing the Russia-Ukraine war by importing energy routed through India. Speaking to ABC News, Bessent pointed out that the US had imposed 25% tariffs on India over Russian oil purchases, only for Europe to finalise a trade pact with New Delhi days later. Also Read: WATCH | Loyal till the end: Pitbull guards teen’s body for four days in Himachal snow What Bessent did not acknowledge is that Trump’s own trade tactics may have accelerated the deal. Negotiations between India and the EU have dragged on for nearly two decades. It was the growing uncertainty created by US tariffs, export controls, and diplomatic friction that finally pushed both sides to close ranks. Prime Minister Modi alluded to this global disruption while announcing the agreement. Without naming Trump, he noted that the international order was in flux and that the India-EU deal could help bring stability. How Trump’s pressure backfired India is currently facing combined US tariffs of 50%—25% under reciprocal measures and another 25% linked to Russian oil imports. Over the past year, Trump and his allies have repeatedly criticised India, branding it a conduit for Moscow and even framing the Ukraine conflict as “Modi’s war.” The pressure was aimed at forcing India into a trade deal tilted heavily in America’s favour. New Delhi, however, chose restraint over retaliation. While refusing to bow to US demands, India avoided direct attacks on Trump himself. Europe’s experience has been similar. Trump’s aggressive rhetoric, threats of additional tariffs, and anger over EU resistance to his Greenland proposal have strained transatlantic ties. In response, Brussels shelved its trade talks with Washington, while several European countries declined to participate in Trump-backed diplomatic initiatives in West Asia. https://www.wionews.com/videos/white-house-confirms-trump-s-diplomatic-push-amid-europe-russia-tensions-1769512874157/embed Why the India-EU deal matters? For India, the agreement sends a clear message: it will not negotiate under duress. In recent months, New Delhi has concluded trade deals with the UK, New Zealand, and Oman, reinforcing its intent to diversify partnerships. India’s negotiating stance reflects an understanding that Trump responds to leverage, not submission. Unlike Canada, where trade talks with China were frozen after Trump threatened 100% tariffs, India has stayed the course. The EU, for its part, accommodated India’s long-standing sensitivities by excluding agriculture and dairy from the pact, safeguarding Indian farmers. This stands in contrast to US demands for deep access to these politically sensitive sectors. While European leaders have expressed unease over India’s ties with Russia, they have largely avoided public ultimatums or sanctions. That tone helped keep negotiations on track. India, now the world’s fourth-largest economy, offers Europe a vast and steadily expanding market. Despite occasional disagreements, New Delhi has refrained from publicly pressuring or embarrassing Brussels—an approach that paid dividends. The agreement, set to take effect next year, promises significant gains on both sides. Indian exporters in labour-intensive sectors such as textiles, chemicals, gems, and jewellery, hit hard by US tariffs, will gain preferential or duty-free access to European markets. The EU is already India’s largest trading partner. Under the FTA, duties will be eliminated on more than 90% of traded goods, while services sectors like telecom and accounting will see reduced barriers. Europe also stands to benefit from India’s decision to slash tariffs on imported EU cars to 40%, down from levels as high as 110%. This opens the door wider for manufacturers such as Volkswagen, Mercedes-Benz, and BMW in the world’s third-largest automobile market by volume.

India and the EU finalise a major trade deal, easing tariffs and deepening ties as both seek stability amid US pressure and Trump’s trade confrontations

A historic free trade agreement between India and the European Union is set to sharply cut import duties on nearly all European goods coming to India, making many products more affordable for Indian consumers across sectors such as agriculture, food, and automobiles. Under the deal, tariffs on about 96.6 per cent of EU exports to India will either be fully removed or significantly lowered. The agreement is expected to save European exporters up to €4 billion annually in customs duties.&nbsp;Described as the biggest trade deal ever concluded by both sides, the agreement will bring down steep tariffs, currently ranging from 50 to 150 per cent, on items such as chocolate, wine, and cars to levels of zero to 20 per cent. The European Union said the deal comes at a critical moment, strengthening economic and strategic cooperation between the world’s two largest democracies amid global uncertainty and geopolitical strain.&nbsp;Also Read: <a href="https://www.wionews.com/world/-blueprint-for-shared-prosperity-how-india-eu-fta-redefines-defence-and-security-cooperation-1769501459135">‘Blueprint for shared prosperity’: How India-EU FTA redefines defence and security cooperation</a>&nbsp;By cutting red tape and easing market access, the agreement aims to make cross-border trade faster, simpler, and more cost-effective, the EU said. Prime Minister Narendra Modi, announcing the signing on Tuesday (January 27), said the pact would unlock significant benefits for citizens and businesses in both India and Europe.&nbsp;<a href="https://www.wionews.com/videos/europe-bets-big-on-wind-to-power-a-greener-future-1769503867678/embed">https://www.wionews.com/videos/europe-bets-big-on-wind-to-power-a-greener-future-1769503867678/embed</a>&nbsp;Calling it a model partnership between major global economies, Modi noted that the agreement covers economies accounting for roughly 25 per cent of global GDP and one-third of worldwide trade. European Commission President Ursula von der Leyen welcomed the pact as a historic achievement, calling it the “mother of all” trade agreements. In a post on X, PM Modi wrote, “This agreement will drive trade, investment, and innovation while strengthening our strategic relationship. It reflects our shared resolve to shape a stable, prosperous, and future-ready economic relationship.”&nbsp;<h2>Check the complete list below. What gets cheaper for Indians after India-EU deal</h2>

<figure class="table"><table><tbody><tr><td>Product</td><td>Current tariffs</td><td>Future Tariffs</td></tr><tr><td>Machinery and electrical equipment</td><td>Up to 44% &nbsp;</td><td>0% for almost all products</td></tr><tr><td>Aircraft and spacecraft&nbsp;&nbsp; &nbsp;</td><td>Up to 11% &nbsp;</td><td>0% for almost all products</td></tr><tr><td>Optical, medical and surgical equipment</td><td>Up to 27,5% &nbsp;</td><td>0% for 90% of the products</td></tr><tr><td>Plastics</td><td>Up to 16,5% &nbsp;&nbsp;</td><td>0% for almost all products</td></tr><tr><td>Pearls, precious stones and metals</td><td>Up to 22,5% &nbsp;&nbsp;</td><td>0% for 20% of the products and tariff reduction for another 36% of the products</td></tr><tr><td>Chemicals</td><td>Up to 22% &nbsp;</td><td>0% for almost all products</td></tr><tr><td>Motor vehicles</td><td>110%</td><td>10% (quota of 250k)</td></tr><tr><td>Iron and steel&nbsp; &nbsp;</td><td>Up to 22%</td><td>0% for almost all products</td></tr><tr><td>Pharmaceuticals&nbsp; &nbsp;</td><td>11%</td><td>0% for almost all products</td></tr><tr><td>Wine&nbsp;&nbsp;</td><td>&nbsp;150%</td><td>20% (premium range); 30% (medium range)</td></tr><tr><td>Spirits&nbsp;&nbsp;</td><td>Up to 150%</td><td>40%</td></tr><tr><td>Beer&nbsp;&nbsp;</td><td>110%</td><td>50%</td></tr><tr><td>Olive Oil, margarine and other vegetable oils</td><td>Up to 45%</td><td>0%</td></tr><tr><td>Kiwis and pears</td><td>33%</td><td>10% in-quota</td></tr><tr><td>Fruit juices and non-alcoholic beer</td><td>Up to 55%</td><td>0%</td></tr><tr><td>Processed food (breads, pastries, biscuits, pasta, chocolate, pet food)</td><td>Up to 50%</td><td>0%</td></tr><tr><td>Sheep meat</td><td>33%</td><td>0%</td></tr><tr><td>Sausages and other meat preparations</td><td>Up to 110%</td><td>50%</td></tr></tbody></table></figure>

India-EU trade deal | From chocolates to wines to cars: Products that may get cheaper after trade pact. See the complete list

A historic free trade agreement between India and the European Union is set to sharply cut import duties on nearly all European goods coming to India, making many products more affordable for Indian consumers across sectors such as agriculture, food, and automobiles. Under the deal, tariffs on about 96.6 per cent of EU exports to India will either be fully removed or significantly lowered. The agreement is expected to save European exporters up to €4 billion annually in customs duties. Described as the biggest trade deal ever concluded by both sides, the agreement will bring down steep tariffs, currently ranging from 50 to 150 per cent, on items such as chocolate, wine, and cars to levels of zero to 20 per cent. The European Union said the deal comes at a critical moment, strengthening economic and strategic cooperation between the world’s two largest democracies amid global uncertainty and geopolitical strain. Also Read: ‘Blueprint for shared prosperity’: How India-EU FTA redefines defence and security cooperation By cutting red tape and easing market access, the agreement aims to make cross-border trade faster, simpler, and more cost-effective, the EU said. Prime Minister Narendra Modi, announcing the signing on Tuesday (January 27), said the pact would unlock significant benefits for citizens and businesses in both India and Europe. https://www.wionews.com/videos/europe-bets-big-on-wind-to-power-a-greener-future-1769503867678/embed Calling it a model partnership between major global economies, Modi noted that the agreement covers economies accounting for roughly 25 per cent of global GDP and one-third of worldwide trade. European Commission President Ursula von der Leyen welcomed the pact as a historic achievement, calling it the “mother of all” trade agreements. In a post on X, PM Modi wrote, “This agreement will drive trade, investment, and innovation while strengthening our strategic relationship. It reflects our shared resolve to shape a stable, prosperous, and future-ready economic relationship.” Check the complete list below. What gets cheaper for Indians after India-EU deal

India and the EU on Tuesday (January 27) signed their largest-ever trade deal, cutting tariffs on 96.6% of EU exports and boosting trade, savings, and cooperation

India and the European Union on Tuesday finalised the ‘mother of all’ trade deals in a landmark development. In response to the agreement, President of the European Commission, Ursula Von Der Leyen, said on social media platform X (formerly Twitter) that ]Europe and India are making history today'.&nbsp;“Europe and India are making history today. We have concluded the mother of all deals. We have created a free trade zone of two billion people, with both sides set to benefit. This is only the beginning. We will grow our strategic relationship to be even stronger,” Ursula Von Der Leyen said on X.&nbsp;Prime Minister Narendra Modi also said on Tuesday that India and the European Union have finalised a free trade agreement, highlighting that both sides together constitute around 25 per cent of global GDP and around one-third of world trade. While speaking virtually at Indian Energy Week, he called the deal the “mother of all deals” and stated that it opens up key opportunities for 140 crore Indians as well as millions of Europeans.<h3>How the India–EU deal will benefit Indians</h3>The India-EU Free Trade Agreement or FTA, which is also called the ‘mother of all deals’, aims to provide extensive economic benefits to both countries. Following the agreement, Indians European cars, beer, and several food items are likely to get cheaper.&nbsp;The European Union said duties on 96.6% of its goods exports to India will be either eliminated or reduced, resulting in annual savings of up to €4 billion for European exporters. At the India-EU Summit, both sides also launched an EU-India Security and Defence Partnership and announced key breakthroughs under the trade agreement.&nbsp;Under the deal, tariffs will be scrapped on EU exports such as fruit juices and processed foods, while duties on olive oil, margarine and other vegetable oils will be reduced or removed. Tariffs on spirits will be lowered to 40 per cent.&nbsp;The EU also plans to provide 500 million euros in support over the next two years to help India cut greenhouse gas emissions, highlighting the pact’s economic as well as climate focus. In the meantime, India has decided to substantially lower import duties on several European products, and the EU will provide full market access covering a wide range of Indian exports across manufacturing, chemicals, textiles and electronics.&nbsp;In addition, 90 per cent tariffs on European optical, medical and surgical equipment will be removed. Duties on most of the EU aircraft and spacecraft exports to India will also be removed, the European Union added. The deal will also remove tariffs of up to 44 per cent on machinery, 22 per cent on chemicals and 11 per cent on pharmaceuticals, a development that the EU expects to strengthen the market access and double the exports from the EU to India by 2032.&nbsp;Two-way trade in goods between India and the European Union is estimated at $136 billion. Under the agreement, India is expected to gain duty-free access for key exports such as textiles, leather and marine products, while offering tariff reductions in sectors including automobiles, wines and spirits.&nbsp;Also read: <a href="https://www.wionews.com/world/-financing-war-against-itself-us-slams-europe-over-russian-oil-as-india-eu-trade-deal-nears-1769488585079">‘Financing war against itself’: US slams Europe over Russian oil as India-EU trade deal nears</a>

Prime Minister Narendra Modi said on Tuesday that India and the European Union have finalised a free trade agreement, highlighting that both sides together constitute around 25 per cent of global GDP and around one-third of world trade.

India and the European Union on Tuesday finalised the ‘mother of all’ trade deals in a landmark development. In response to the agreement, President of the European Commission, Ursula Von Der Leyen, said on social media platform X (formerly Twitter) that ]Europe and India are making history today'. “Europe and India are making history today. We have concluded the mother of all deals. We have created a free trade zone of two billion people, with both sides set to benefit. This is only the beginning. We will grow our strategic relationship to be even stronger,” Ursula Von Der Leyen said on X. Prime Minister Narendra Modi also said on Tuesday that India and the European Union have finalised a free trade agreement, highlighting that both sides together constitute around 25 per cent of global GDP and around one-third of world trade. While speaking virtually at Indian Energy Week, he called the deal the “mother of all deals” and stated that it opens up key opportunities for 140 crore Indians as well as millions of Europeans. How the India–EU deal will benefit Indians The India-EU Free Trade Agreement or FTA, which is also called the ‘mother of all deals’, aims to provide extensive economic benefits to both countries. Following the agreement, Indians European cars, beer, and several food items are likely to get cheaper. The European Union said duties on 96.6% of its goods exports to India will be either eliminated or reduced, resulting in annual savings of up to €4 billion for European exporters. At the India-EU Summit, both sides also launched an EU-India Security and Defence Partnership and announced key breakthroughs under the trade agreement. Under the deal, tariffs will be scrapped on EU exports such as fruit juices and processed foods, while duties on olive oil, margarine and other vegetable oils will be reduced or removed. Tariffs on spirits will be lowered to 40 per cent. The EU also plans to provide 500 million euros in support over the next two years to help India cut greenhouse gas emissions, highlighting the pact’s economic as well as climate focus. In the meantime, India has decided to substantially lower import duties on several European products, and the EU will provide full market access covering a wide range of Indian exports across manufacturing, chemicals, textiles and electronics. In addition, 90 per cent tariffs on European optical, medical and surgical equipment will be removed. Duties on most of the EU aircraft and spacecraft exports to India will also be removed, the European Union added. The deal will also remove tariffs of up to 44 per cent on machinery, 22 per cent on chemicals and 11 per cent on pharmaceuticals, a development that the EU expects to strengthen the market access and double the exports from the EU to India by 2032. Two-way trade in goods between India and the European Union is estimated at $136 billion. Under the agreement, India is expected to gain duty-free access for key exports such as textiles, leather and marine products, while offering tariff reductions in sectors including automobiles, wines and spirits. Also read: ‘Financing war against itself’: US slams Europe over Russian oil as India-EU trade deal nears

Prime Minister Narendra Modi said on Tuesday that India and the European Union have finalised a free trade agreement, highlighting that both sides together constitute around 25 per cent of global GDP and around one-third of world trade.

How the India–EU deal will impact Indian consumers and exporters: Know key benefits

India and the European Union have wrapped up negotiations on their long-pending Free Trade Agreement, Commerce Secretary Rajesh Agrawal confirmed on Monday (January 26). The agreement, expected to be formally unveiled on Thursday (January 27), has been described as equitable and future-focused, aimed at strengthening India’s economic ties with Europe. Agrawal said the agreement is complete and will likely come into effect next year. The legal review of the text is expected to take five to six months, after which the pact will be officially signed. He added that the deal is poised to significantly boost bilateral trade and investment flows.&nbsp;The announcement coincides with the visit of European Council President Antonio Costa and European Commission President Ursula von der Leyen to New Delhi, where they attended the 77th Republic Day celebrations and the 16th India-EU Summit. Prime Minister Narendra Modi welcomed the EU leadership, noting that their presence reflects the deepening partnership between India and the bloc. The European Commission echoed this sentiment in a post on X, highlighting shared ambitions to address global challenges and advance cooperation at the upcoming summit.&nbsp;Also Read: <a href="https://www.wionews.com/world/uss-abraham-lincoln-aircraft-carrier-arrives-in-middle-east-amid-iran-tensions-1769445072073">USS Abraham Lincoln aircraft carrier arrives in Middle East amid Iran tensions</a><h2>Why did talks move quickly?</h2>Momentum for the deal accelerated after Modi and von der Leyen agreed last year to speed up negotiations. Trade talks, which resumed in 2022 after being stalled for nearly a decade, gained urgency amid shifting global trade dynamics, including higher US tariffs under President Donald Trump. Meanwhile, negotiations on a potential India-US trade pact remain unresolved. Final discussions reportedly centered on automobiles and steel. The EU pushed India to substantially lower import duties on European cars, which currently exceed 100%. India, in turn, sought relief from EU restrictions affecting its steel exports. According to news agency Reuters, New Delhi may cut tariffs on EU car imports to about 40%, down from levels as high as 110%. However, certain agricultural and dairy products were kept outside the agreement, as India aims to shield its farming sector from external competition.<h2>EU calls it the ‘mother of all deals’</h2>EU Trade Commissioner Maros Sefcovic said the agreement could open up vast opportunities for European businesses, referring to it as the “mother of all deals,” a phrase earlier used by Ursula von der Leyen. He noted that negotiators were finalising figures as the EU pressed for reductions in India’s high import duties, which can reach 150% in some categories. Sefcovic said the deal would create one of the world’s largest free trade areas, covering nearly two billion people, while easing customs barriers for European goods in India. Sensitive sectors have been deliberately excluded to ensure consensus and deliver tangible benefits.&nbsp;<a href="https://www.wionews.com/videos/russia-ukraine-continue-to-trade-fire-fury-across-multiple-fronts-1769450756255/embed">https://www.wionews.com/videos/russia-ukraine-continue-to-trade-fire-fury-across-multiple-fronts-1769450756255/embed</a>&nbsp;Calling it the biggest trade agreement ever, he pointed out that nearly 6,000 European companies already operate in India, with bilateral trade growing rapidly over the past decade. EU officials see the pact as a strategic effort to reduce reliance on the US and China, while Indian policymakers view it as a step toward attracting foreign investment and expanding market access. European Commission Vice-President Kaja Kallas also highlighted expanding cooperation beyond trade, including security and defence, noting that EU naval personnel took part in India’s Republic Day parade for the first time.

India and the EU have finalised a landmark free trade agreement, paving the way for deeper economic ties, lower tariffs, and expanded market access

India and the European Union have wrapped up negotiations on their long-pending Free Trade Agreement, Commerce Secretary Rajesh Agrawal confirmed on Monday (January 26). The agreement, expected to be formally unveiled on Thursday (January 27), has been described as equitable and future-focused, aimed at strengthening India’s economic ties with Europe. Agrawal said the agreement is complete and will likely come into effect next year. The legal review of the text is expected to take five to six months, after which the pact will be officially signed. He added that the deal is poised to significantly boost bilateral trade and investment flows. The announcement coincides with the visit of European Council President Antonio Costa and European Commission President Ursula von der Leyen to New Delhi, where they attended the 77th Republic Day celebrations and the 16th India-EU Summit. Prime Minister Narendra Modi welcomed the EU leadership, noting that their presence reflects the deepening partnership between India and the bloc. The European Commission echoed this sentiment in a post on X, highlighting shared ambitions to address global challenges and advance cooperation at the upcoming summit. Also Read: USS Abraham Lincoln aircraft carrier arrives in Middle East amid Iran tensions Why did talks move quickly? Momentum for the deal accelerated after Modi and von der Leyen agreed last year to speed up negotiations. Trade talks, which resumed in 2022 after being stalled for nearly a decade, gained urgency amid shifting global trade dynamics, including higher US tariffs under President Donald Trump. Meanwhile, negotiations on a potential India-US trade pact remain unresolved. Final discussions reportedly centered on automobiles and steel. The EU pushed India to substantially lower import duties on European cars, which currently exceed 100%. India, in turn, sought relief from EU restrictions affecting its steel exports. According to news agency Reuters, New Delhi may cut tariffs on EU car imports to about 40%, down from levels as high as 110%. However, certain agricultural and dairy products were kept outside the agreement, as India aims to shield its farming sector from external competition. EU calls it the ‘mother of all deals’ EU Trade Commissioner Maros Sefcovic said the agreement could open up vast opportunities for European businesses, referring to it as the “mother of all deals,” a phrase earlier used by Ursula von der Leyen. He noted that negotiators were finalising figures as the EU pressed for reductions in India’s high import duties, which can reach 150% in some categories. Sefcovic said the deal would create one of the world’s largest free trade areas, covering nearly two billion people, while easing customs barriers for European goods in India. Sensitive sectors have been deliberately excluded to ensure consensus and deliver tangible benefits. https://www.wionews.com/videos/russia-ukraine-continue-to-trade-fire-fury-across-multiple-fronts-1769450756255/embed Calling it the biggest trade agreement ever, he pointed out that nearly 6,000 European companies already operate in India, with bilateral trade growing rapidly over the past decade. EU officials see the pact as a strategic effort to reduce reliance on the US and China, while Indian policymakers view it as a step toward attracting foreign investment and expanding market access. European Commission Vice-President Kaja Kallas also highlighted expanding cooperation beyond trade, including security and defence, noting that EU naval personnel took part in India’s Republic Day parade for the first time.

India and the EU have finalised a landmark free trade agreement, paving the way for deeper economic ties, lower tariffs, and expanded market access

'Mother of all deals': India, EU FTA finalised, formal announcement on January 27

Gold prices hit $5,000 per ounce for the first time ever in history, even as silver prices breached another all-time record. For two assets long known fore for their store of value than real-world usage, gold and silver’s unprecedented rally is raising questions as to whether this is irrational exuberance. Geopolitical uncertainties, central bank purchases, and the use of silver in emerging technologies like electric vehicles may be some reasons. But how far can this rally be sustained? Here are the factors to consider.<h2>Gold and silver: How have prices risen in past year?</h2>Gold spot prices breached the $5,000 mark for the first time ever, trading in spot markets at around $5,074.48 per ounce on Monday (Jan 26) after hitting an all-time high of $5,091.14. The bull run is because gold is enjoying strong momentum, up roughly 85 per cent year-on-year, having risen 17 per cent in the past month alone.&nbsp;Silver, meanwhile, is growing more explosively, having hit $108.17 per ounce on Monday after an all-time high of over $100 for the first time on January 23. In percentage terms, this represents higher growth than gold, a surge of over 258 per cent on the year and a rise of 50 per cent in the past month alone.<a href="https://www.wionews.com/videos/gold-hits-5-000-an-ounce-for-the-first-time-world-business-watch-1769403964264/embed">https://www.wionews.com/videos/gold-hits-5-000-an-ounce-for-the-first-time-world-business-watch-1769403964264/embed</a><h2>What is driving the precious metals rally?</h2>The growth is mainly because of risk aversion in the market, causing safe-haven flows to the metals. In a world where news flow is virtually led by Donald Trump, heightened geopolitical and policy uncertainties are making investors opt for safer bets. It started with various tariff threats by the Trump administration amid the Ukraine–Russia war. Trade frictions pitting the US on one side and virtually all friends and foes on the other — including China, India and the European Union — continued over the past year. Conflicts and regime-change risks involving nations particularly active in oil trade — Venezuela, Russia and Iran — have indicated broader instability.At the domestic level in the US, expectations of accommodative Federal Reserve monetary policy amid potential rate cuts were another reason, as the dollar became less attractive as an asset. Central banks across the world are now accumulating more gold too.Also read: <a href="https://www.wionews.com/trending/pot-of-gold-buried-900-years-ago-unearthed-in-a-karnataka-village-now-there-is-a-fuss-over-who-owns-it-1768376950848">Pot of gold buried 900 years ago unearthed in a Karnataka village. Now there is a fuss over who owns it</a>&nbsp;There is strong demand for gold in Asia, particularly in nations like India, with higher inflows into exchange-traded funds (ETFs) and investments by both retail and institutional investors.There are also supply-side issues, contributed to by geopolitical tensions. There is an acute shortage of silver due to mining deficits. Silver now has a newfound utility in sunrise industries like solar energy, electric vehicles, electronics, and artificial intelligence.<h2>But is it irrational exuberance?</h2>Investors are hedging against fiscal risks by increasing their gold and silver holdings. Concerns over rising inflation and a lack of confidence in traditional fiat systems like the dollar are contributing to this bull run. There are higher forecasts for gold by Goldman Sachs, which pegged it to hit $5,400 per ounce in 2026, citing sustained demand from investors and central banks.It is not clear if this is a case of irrational exuberance, particularly for gold. Gold derives most of its value as a non-yielding store of value and hedge. It has limited practical utility beyond jewellery, investment, and minor applications in electronics and dentistry.Also read: <a href="https://www.wionews.com/photos/can-silver-outperform-gold-in-future-due-to-rise-in-demand-1766396593842">Can Silver outperform Gold in future due to rise in demand?</a>Silver, as mentioned earlier, is more useful in current industries.&nbsp;There are reasons to believe that current price trends match those of bubble-like characteristics seen in the past. Most of the ETF premiums are driven by fear of missing out, meaning some investors are flocking to the asset because everyone else is. This amounts to what could be called ‘herd momentum’. It is similar to speculative pricing seen in the past.There is a strong chance that price corrections could be very sharp whenever they occur.If the risk of global wars and conflicts ease suddenly, the fall in prices could happen even before 2026 closes.But some analysts, such as those at JP Morgan and Goldman Sachs, argue that the fundamentals are strong for the metals, particularly given asset diversification by central banks and dwindling supply, especially for silver.

Are we seeing a bubble in gold and silver prices that would inevitably burst? Gold crossed $5,000 per ounce for the first time ever, while silver hit new highs above $100. What are the factors driving this, and are we in ‘irrational exuberance’ territory?



Gold prices hit $5,000 per ounce for the first time ever in history, even as silver prices breached another all-time record. For two assets long known fore for their store of value than real-world usage, gold and silver’s unprecedented rally is raising questions as to whether this is irrational exuberance. Geopolitical uncertainties, central bank purchases, and the use of silver in emerging technologies like electric vehicles may be some reasons. But how far can this rally be sustained? Here are the factors to consider. Gold and silver: How have prices risen in past year? Gold spot prices breached the $5,000 mark for the first time ever, trading in spot markets at around $5,074.48 per ounce on Monday (Jan 26) after hitting an all-time high of $5,091.14. The bull run is because gold is enjoying strong momentum, up roughly 85 per cent year-on-year, having risen 17 per cent in the past month alone. Silver, meanwhile, is growing more explosively, having hit $108.17 per ounce on Monday after an all-time high of over $100 for the first time on January 23. In percentage terms, this represents higher growth than gold, a surge of over 258 per cent on the year and a rise of 50 per cent in the past month alone. https://www.wionews.com/videos/gold-hits-5-000-an-ounce-for-the-first-time-world-business-watch-1769403964264/embed What is driving the precious metals rally? The growth is mainly because of risk aversion in the market, causing safe-haven flows to the metals. In a world where news flow is virtually led by Donald Trump, heightened geopolitical and policy uncertainties are making investors opt for safer bets. It started with various tariff threats by the Trump administration amid the Ukraine–Russia war. Trade frictions pitting the US on one side and virtually all friends and foes on the other — including China, India and the European Union — continued over the past year. Conflicts and regime-change risks involving nations particularly active in oil trade — Venezuela, Russia and Iran — have indicated broader instability. At the domestic level in the US, expectations of accommodative Federal Reserve monetary policy amid potential rate cuts were another reason, as the dollar became less attractive as an asset. Central banks across the world are now accumulating more gold too. Also read: Pot of gold buried 900 years ago unearthed in a Karnataka village. Now there is a fuss over who owns it There is strong demand for gold in Asia, particularly in nations like India, with higher inflows into exchange-traded funds (ETFs) and investments by both retail and institutional investors. There are also supply-side issues, contributed to by geopolitical tensions. There is an acute shortage of silver due to mining deficits. Silver now has a newfound utility in sunrise industries like solar energy, electric vehicles, electronics, and artificial intelligence. But is it irrational exuberance? Investors are hedging against fiscal risks by increasing their gold and silver holdings. Concerns over rising inflation and a lack of confidence in traditional fiat systems like the dollar are contributing to this bull run. There are higher forecasts for gold by Goldman Sachs, which pegged it to hit $5,400 per ounce in 2026, citing sustained demand from investors and central banks. It is not clear if this is a case of irrational exuberance, particularly for gold. Gold derives most of its value as a non-yielding store of value and hedge. It has limited practical utility beyond jewellery, investment, and minor applications in electronics and dentistry. Also read: Can Silver outperform Gold in future due to rise in demand? Silver, as mentioned earlier, is more useful in current industries. There are reasons to believe that current price trends match those of bubble-like characteristics seen in the past. Most of the ETF premiums are driven by fear of missing out, meaning some investors are flocking to the asset because everyone else is. This amounts to what could be called ‘herd momentum’. It is similar to speculative pricing seen in the past. There is a strong chance that price corrections could be very sharp whenever they occur. If the risk of global wars and conflicts ease suddenly, the fall in prices could happen even before 2026 closes. But some analysts, such as those at JP Morgan and Goldman Sachs, argue that the fundamentals are strong for the metals, particularly given asset diversification by central banks and dwindling supply, especially for silver.

Are we seeing a bubble in gold and silver prices that would inevitably burst? Gold crossed $5,000 per ounce for the first time ever, while silver hit new highs above $100. What are the factors driving this, and are we in ‘irrational exuberance’ territory?

Gold breaches $5,000 per ounce for first time in history, silver at new high. Are we in ‘irrational exuberance’ territory?

The Indian Union Budget for 2026 is scheduled to be presented on Sunday, February 1, marking the first time since 2000. The timing of the budget announcements on weekends might seem strange, but it serves a specific purpose. Since 2017, the financial announcement has been made on February 1 to provide Parliament with sufficient time to approve policies before the beginning of the financial year on April 4.&nbsp;So, the question might be: in 2026, February 1 falls on a Sunday, but why is the government continuing to present on the holiday? Basically, it allows ministers to conduct their duties on working days without interruptions from office operations. It also provides investors and analysts time to understand the information prior to the beginning of markets on Monday. Therefore, this Sunday effectively turns into India’s most productive “working day” for financial planning and policy decisions.<h3>Can the Union Budget be presented on the weekend?</h3>Yes, the Union Budget can legally be presented on a weekend, as there are no constitutional or procedural barriers. When required, Parliament can hold special sessions to carry out essential business, allowing Budget discussions and approvals to move forward without disrupting the fiscal calendar or routine government functioning.&nbsp;For investors, a Sunday Budget works like an advance guide before the markets open. With the Union Budget scheduled to be presented on February 1, 2026, which falls on Sunday, investors will have ample time to analyse the announcements before trading resumes on the BSE and NSE on Monday. They can comfortably review proposed tax changes, spending plans and incentives at their own pace, helping them plan their next steps more effectively.<h3>Why government choose February 1 for the Budget announcement?</h3>The Indian government shifted the budget presentation from the February-end financial crunch to February 1 to ease the pressure of last-minute financial approvals. This gives Parliament adequate time to pass the Appropriation Bill, which must be cleared before March 31, helping the government avoid the temporary and often complex “Vote on Account” process.With the financial year starting on April 1, this revised timeline allows for a smoother transition into the new fiscal cycle, minimising delays and unfinished clearances. The streamlined approach enables better planning and quicker execution of policies, while also ensuring the timely availability of funds for both the government and investors.<h3>When and where to watch the Budget session 2026?</h3>The Budget Session for 2026 will begin on January 28, 2026, with the President's address to a joint sitting of the Lok Sabha and Rajya Sabha. It will be presented at 11 am on February 1, 2026. Live coverage will be available on Doordarshan as well as on the Government of India’s official YouTube channel.&nbsp;Also read: <a href="https://www.wionews.com/business-economy/deepinder-goyal-steps-down-as-eternal-ceo-albinder-dhindsa-to-take-charge-1768996221996">Deepinder Goyal steps down as Eternal CEO; Albinder Dhindsa to take charge</a>

The Indian government shifted the budget presentation from the February-end financial crunch to February 1 to ease the pressure of last-minute financial approvals. This gives Parliament adequate time to pass the Appropriation Bill.

The Indian Union Budget for 2026 is scheduled to be presented on Sunday, February 1, marking the first time since 2000. The timing of the budget announcements on weekends might seem strange, but it serves a specific purpose. Since 2017, the financial announcement has been made on February 1 to provide Parliament with sufficient time to approve policies before the beginning of the financial year on April 4. So, the question might be: in 2026, February 1 falls on a Sunday, but why is the government continuing to present on the holiday? Basically, it allows ministers to conduct their duties on working days without interruptions from office operations. It also provides investors and analysts time to understand the information prior to the beginning of markets on Monday. Therefore, this Sunday effectively turns into India’s most productive “working day” for financial planning and policy decisions. Can the Union Budget be presented on the weekend? Yes, the Union Budget can legally be presented on a weekend, as there are no constitutional or procedural barriers. When required, Parliament can hold special sessions to carry out essential business, allowing Budget discussions and approvals to move forward without disrupting the fiscal calendar or routine government functioning. For investors, a Sunday Budget works like an advance guide before the markets open. With the Union Budget scheduled to be presented on February 1, 2026, which falls on Sunday, investors will have ample time to analyse the announcements before trading resumes on the BSE and NSE on Monday. They can comfortably review proposed tax changes, spending plans and incentives at their own pace, helping them plan their next steps more effectively. Why government choose February 1 for the Budget announcement? The Indian government shifted the budget presentation from the February-end financial crunch to February 1 to ease the pressure of last-minute financial approvals. This gives Parliament adequate time to pass the Appropriation Bill, which must be cleared before March 31, helping the government avoid the temporary and often complex “Vote on Account” process. With the financial year starting on April 1, this revised timeline allows for a smoother transition into the new fiscal cycle, minimising delays and unfinished clearances. The streamlined approach enables better planning and quicker execution of policies, while also ensuring the timely availability of funds for both the government and investors. When and where to watch the Budget session 2026? The Budget Session for 2026 will begin on January 28, 2026, with the President's address to a joint sitting of the Lok Sabha and Rajya Sabha. It will be presented at 11 am on February 1, 2026. Live coverage will be available on Doordarshan as well as on the Government of India’s official YouTube channel. Also read: Deepinder Goyal steps down as Eternal CEO; Albinder Dhindsa to take charge

The Indian government shifted the budget presentation from the February-end financial crunch to February 1 to ease the pressure of last-minute financial approvals. This gives Parliament adequate time to pass the Appropriation Bill.

Why is Budget 2026 being presented on Sunday? Know reason, history and where to watch live

International Monetary Fund (IMF) Managing Director Kristalina Georgieva warned on Friday that the ‘artificial intelligence (AI) tsunami’ will hit the labour market soon, and 60% of jobs in advanced economies will be affected by it. The ‘AI tsunami’ will wipe out many entry-level roles, and hence the young will be the most affected, Georgieva said, citing research. Artificial intelligence will be a “tsunami hitting the labour market”, with young people being the worst hit, the IMF chief said at the World Economic Forum in Davos on Friday.&nbsp;Georgieva told delegates that the IMF’s own research suggested that there would be a big transformation of demand for skills as the technology becomes increasingly widespread.&nbsp;Also Read: <a href="https://www.wionews.com/world/death-toll-in-karachi-shopping-mall-blaze-rises-to-71-may-go-up-further-as-search-operation-still-on-1769170605758">Death toll in Karachi shopping mall blaze rises to 71, may go up further as search operation still on</a>&nbsp;“We expect over the next years, in advanced economies, 60% of jobs to be affected by AI, either enhanced or eliminated or transformed–40% globally,” she said. “This is like a tsunami hitting the labour market.”She further said that one in 10 jobs in advanced economies had already been “enhanced” by AI, tending to boost these workers’ pay, with knock-on benefits for the local economy.&nbsp;<h2>‘AI would wipe out roles taken up by younger workers’</h2>&nbsp;By contrast, Georgieva warned that AI would wipe out many roles traditionally taken up by younger workers. “Tasks that are eliminated are usually what entry-level jobs do at present, so young people searching for jobs find it harder to get to a good placement.”&nbsp;Also Read: <a href="https://www.wionews.com/world/davos-2026-soon-there-will-be-more-robots-than-people-says-elon-musk-1769105556661">Davos 2026: ‘Soon there will be more robots than people,’ says Elon Musk</a>&nbsp;Besides, people whose jobs are not directly changed by artificial intelligence will be at risk of being squeezed, and their pay may potentially fall without a productivity boost from AI, she said.“So the middle class, inevitably, is going to be affected,” Georgieva predicted.&nbsp;&nbsp;<h2>‘AI insufficiently regulated, moving fast but not safe yet’</h2>&nbsp;&nbsp;She further said that her greatest fear was that AI was insufficiently regulated. “This is moving so fast, and yet we don’t know how to make it safe. We don’t know how to make it inclusive. Wake up, AI is for real, and it is transforming our world faster than we are getting ahead of it,” she said.&nbsp;Georgieva was speaking on a panel alongside the president of the European Central Bank, Christine Lagarde, who warned that the AI boom could be hampered by growing mistrust between rival economies as the US throws up tariff barriers.&nbsp;Also Read: <a href="https://www.wionews.com/world/davos-2026-zelensky-says-europe-needs-to-protect-itself-take-action-to-become-global-force-1769091116500">‘Europe needs to protect itself, take action to become global force,’ says Zelensky at Davos</a>&nbsp;“We are dependent on each other,” she said, pointing out that AI was capital intensive, energy intensive, and data intensive. If countries did not work cooperatively and “define the new rules of the game,” she said, there would be less capital and less data. “We are in a bind, let’s face it,” she said.&nbsp;<h2>‘Disparity getting deeper and bigger,’ says Christine Lagarde</h2>&nbsp;Lagarde also sounded the alarm about widening global inequality, highlighting the “disparity that is getting deeper and bigger”.The session titled ‘The Great Rebalancing: Artificial Intelligence, Jobs, and the Future of Inclusive Growth’ was held at the UAE Pavilion.&nbsp;Also Read: <a href="https://www.wionews.com/world/trump-claims-total-access-greenland-deal-pm-says-unaware-as-europe-unites-1769111824495">Trump claims ‘total access’ Greenland deal, PM Nielsen says unaware of details</a>&nbsp;Earlier, Microsoft chief executive Satya Nadella warned at Davos that AI could lose its “social permission” to compete for resources such as energy, for example, if it failed to generate benefits beyond a few powerful tech firms–such as the rapid development of effective new drugs.

IMF chief Kristalina Georgieva said her greatest fear was that AI was insufficiently regulated. It is moving so fast, and yet we don’t know how to make it safe, she said. “Wake up, AI is for real, and it is transforming our world faster than we are getting ahead of it,” she added.

International Monetary Fund (IMF) Managing Director Kristalina Georgieva warned on Friday that the ‘artificial intelligence (AI) tsunami’ will hit the labour market soon, and 60% of jobs in advanced economies will be affected by it. The ‘AI tsunami’ will wipe out many entry-level roles, and hence the young will be the most affected, Georgieva said, citing research. Artificial intelligence will be a “tsunami hitting the labour market”, with young people being the worst hit, the IMF chief said at the World Economic Forum in Davos on Friday. Georgieva told delegates that the IMF’s own research suggested that there would be a big transformation of demand for skills as the technology becomes increasingly widespread. Also Read: Death toll in Karachi shopping mall blaze rises to 71, may go up further as search operation still on “We expect over the next years, in advanced economies, 60% of jobs to be affected by AI, either enhanced or eliminated or transformed–40% globally,” she said. “This is like a tsunami hitting the labour market.” She further said that one in 10 jobs in advanced economies had already been “enhanced” by AI, tending to boost these workers’ pay, with knock-on benefits for the local economy. ‘AI would wipe out roles taken up by younger workers’ By contrast, Georgieva warned that AI would wipe out many roles traditionally taken up by younger workers. “Tasks that are eliminated are usually what entry-level jobs do at present, so young people searching for jobs find it harder to get to a good placement.” Also Read: Davos 2026: ‘Soon there will be more robots than people,’ says Elon Musk Besides, people whose jobs are not directly changed by artificial intelligence will be at risk of being squeezed, and their pay may potentially fall without a productivity boost from AI, she said. “So the middle class, inevitably, is going to be affected,” Georgieva predicted. ‘AI insufficiently regulated, moving fast but not safe yet’ She further said that her greatest fear was that AI was insufficiently regulated. “This is moving so fast, and yet we don’t know how to make it safe. We don’t know how to make it inclusive. Wake up, AI is for real, and it is transforming our world faster than we are getting ahead of it,” she said. Georgieva was speaking on a panel alongside the president of the European Central Bank, Christine Lagarde, who warned that the AI boom could be hampered by growing mistrust between rival economies as the US throws up tariff barriers. Also Read: ‘Europe needs to protect itself, take action to become global force,’ says Zelensky at Davos “We are dependent on each other,” she said, pointing out that AI was capital intensive, energy intensive, and data intensive. If countries did not work cooperatively and “define the new rules of the game,” she said, there would be less capital and less data. “We are in a bind, let’s face it,” she said. ‘Disparity getting deeper and bigger,’ says Christine Lagarde Lagarde also sounded the alarm about widening global inequality, highlighting the “disparity that is getting deeper and bigger”. The session titled ‘The Great Rebalancing: Artificial Intelligence, Jobs, and the Future of Inclusive Growth’ was held at the UAE Pavilion. Also Read: Trump claims ‘total access’ Greenland deal, PM Nielsen says unaware of details Earlier, Microsoft chief executive Satya Nadella warned at Davos that AI could lose its “social permission” to compete for resources such as energy, for example, if it failed to generate benefits beyond a few powerful tech firms–such as the rapid development of effective new drugs.

IMF chief Kristalina Georgieva said her greatest fear was that AI was insufficiently regulated. It is moving so fast, and yet we don’t know how to make it safe, she said. “Wake up, AI is for real, and it is transforming our world faster than we are getting ahead of it,” she added.

AI ‘tsunami’ will hit job market, young and middle class will suffer most: IMF chief

Tech billionaire Elon Musk made his first appearance at the World Economic Forum in Davos on Thursday and predicted that robots will eventually outnumber humans in the years to come and humanoid machines will become as commonplace as smartphones. “By the end of next year I think we’d be selling humanoid robots to the public,” Musk said, adding, “My prediction is there’ll be more robots than people… everyone on Earth is going to have one and going to want one… who wouldn’t want a robot to… watch over your kids, take care of your pets… we are in the most interesting time in history.”&nbsp;Also Read: <a href="https://www.wionews.com/world/-ukraine-us-russia-to-hold-trilateral-talks-in-uae-hope-war-ends-says-zelensky-at-davos-2026-1769097668812">‘Ukraine, US, Russia to hold trilateral talks in UAE; hope war ends,’ says Zelensky at Davos 2026</a>&nbsp;&nbsp;The South Africa-born Tesla and SpaceX chief, who is the world’s richest person, spoke with BlackRock CEO Larry Fink at the Davos summit he previously dismissed as elitist and boring.Musk began with a joke about US President Donald Trump’s territorial ambitions, referencing a peace summit. “And I was like, is that piece? A little piece of Greenland. A little piece of Venezuela,” he said to limited laughter.Trump also repeated his claim about extraterrestrial life. “I’m often asked: ‘Are there aliens among us?’ And I say, I am one, but they don’t believe me. If anyone would know if there were aliens among us, it would be me.”&nbsp;Also Read: <a href="https://www.wionews.com/world/davos-2026-zelensky-says-europe-needs-to-protect-itself-take-action-to-become-global-force-1769091116500">‘Europe needs to protect itself, take action to become global force,’ says Zelensky at Davos</a><h2>‘AI and robotics would trigger an unprecedented economic explosion’</h2>&nbsp;Musk also told the audience that AI and robotics would trigger an unprecedented economic explosion.“We will actually make so many robots and AI that they will actually saturate human needs,” he said. “My prediction is that there will be more robots than people.”Musk said Tesla’s Optimus humanoid robots would perform simple tasks in factories by the end of this year and more complex industrial work within 12 months.“Who wouldn’t want a robot to, assuming it’s very safe, watch over your kids, take care of your pets?” Musk asked.&nbsp;Also Read: <a href="https://www.wionews.com/world/russia-ukraine-peace-deal-talks-down-to-one-issue-says-us-envoy-steve-witkoff-1769082947582">Russia-Ukraine peace talks ‘down to one issue’, says US envoy Steve Witkoff</a><h2>‘AI would become smarter than any human by 2026-end’</h2>&nbsp;Musk also predicted that AI would become smarter than any individual human by the end of 2026 and surpass the collective intelligence of humanity within five years.Tesla has rolled out robotaxi services in several US cities and expects widespread deployment across the country by year’s end, Musk said. He added that Tesla hopes to receive European approval for the vehicles next month but did not specify which countries.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/world/uae-hands-over-list-of-over-900-indian-prisoners-set-for-release-1769084675586">UAE hands over list of over 900 Indian prisoners set for release</a><h2>‘Ageing a very solvable problem’</h2><h2>&nbsp;</h2>Discussing human longevity, Musk said ageing was “a very solvable problem” and predicted that once identified, the cause would be “incredibly obvious” to scientists.Musk was added to the WEF schedule as a last-minute participant, appearing one day after Trump addressed the forum.&nbsp;Also Read: <a href="https://www.wionews.com/world/davos-2026-ashwini-vaishnaw-corrects-imf-chief-says-india-among-top-tier-ai-powers-1769020163510">Davos 2026: Ashwini Vaishnaw corrects IMF chief, says India among ‘top tier’ AI powers</a>&nbsp;He had previously called the annual gathering “boring” and slammed the WEF as a body that’s “increasingly becoming an unelected world government” in previous years.In December 2022, he said he declined a Davos invitation because it sounded “boring af”.

Tech billionaire Elon Musk told the audience that AI and robotics would trigger an unprecedented economic explosion. He said Tesla’s Optimus humanoid robots would perform simple tasks in factories by the end of this year and more complex industrial work within 12 months.

Tech billionaire Elon Musk made his first appearance at the World Economic Forum in Davos on Thursday and predicted that robots will eventually outnumber humans in the years to come and humanoid machines will become as commonplace as smartphones. “By the end of next year I think we’d be selling humanoid robots to the public,” Musk said, adding, “My prediction is there’ll be more robots than people… everyone on Earth is going to have one and going to want one… who wouldn’t want a robot to… watch over your kids, take care of your pets… we are in the most interesting time in history.” Also Read: ‘Ukraine, US, Russia to hold trilateral talks in UAE; hope war ends,’ says Zelensky at Davos 2026 The South Africa-born Tesla and SpaceX chief, who is the world’s richest person, spoke with BlackRock CEO Larry Fink at the Davos summit he previously dismissed as elitist and boring. Musk began with a joke about US President Donald Trump’s territorial ambitions, referencing a peace summit. “And I was like, is that piece? A little piece of Greenland. A little piece of Venezuela,” he said to limited laughter. Trump also repeated his claim about extraterrestrial life. “I’m often asked: ‘Are there aliens among us?’ And I say, I am one, but they don’t believe me. If anyone would know if there were aliens among us, it would be me.” Also Read: ‘Europe needs to protect itself, take action to become global force,’ says Zelensky at Davos ‘AI and robotics would trigger an unprecedented economic explosion’ Musk also told the audience that AI and robotics would trigger an unprecedented economic explosion. “We will actually make so many robots and AI that they will actually saturate human needs,” he said. “My prediction is that there will be more robots than people.” Musk said Tesla’s Optimus humanoid robots would perform simple tasks in factories by the end of this year and more complex industrial work within 12 months. “Who wouldn’t want a robot to, assuming it’s very safe, watch over your kids, take care of your pets?” Musk asked. Also Read: Russia-Ukraine peace talks ‘down to one issue’, says US envoy Steve Witkoff ‘AI would become smarter than any human by 2026-end’ Musk also predicted that AI would become smarter than any individual human by the end of 2026 and surpass the collective intelligence of humanity within five years. Tesla has rolled out robotaxi services in several US cities and expects widespread deployment across the country by year’s end, Musk said. He added that Tesla hopes to receive European approval for the vehicles next month but did not specify which countries. Also Read: UAE hands over list of over 900 Indian prisoners set for release ‘Ageing a very solvable problem’ Discussing human longevity, Musk said ageing was “a very solvable problem” and predicted that once identified, the cause would be “incredibly obvious” to scientists. Musk was added to the WEF schedule as a last-minute participant, appearing one day after Trump addressed the forum. Also Read: Davos 2026: Ashwini Vaishnaw corrects IMF chief, says India among ‘top tier’ AI powers He had previously called the annual gathering “boring” and slammed the WEF as a body that’s “increasingly becoming an unelected world government” in previous years. In December 2022, he said he declined a Davos invitation because it sounded “boring af”.

Tech billionaire Elon Musk told the audience that AI and robotics would trigger an unprecedented economic explosion. He said Tesla’s Optimus humanoid robots would perform simple tasks in factories by the end of this year and more complex industrial work within 12 months.

Davos 2026: ‘Soon there will be more robots than people,’ says Elon Musk

US President Donald Trump on Wednesday (Jan 21) took a U-turn on his hardline push to acquire Greenland, dropping his 500 per cent tariff threat against those opposing him. Just hours after using the stage at the World Economic Forum in Davos to hint at a softer approach on Greenland, the POTUS met with NATO chief Mark Rutte, and afterwards announced a Greenland framework deal. The deal, as per reports, carries a striking resemblance to the UK's Cyprus territory arrangement. Here's all you need to know about the two deals.Also read | <a href="https://www.wionews.com/world/trump-drops-500-tariff-threat-unveils-greenland-framework-deal-with-nato-all-we-know-1769050593395">Trump drops 500% tariff threat, unveils Greenland ‘framework deal’ with NATO | Details inside</a><h2>Trump's framework deal for Greenland</h2>After meeting NATO Secretary General Mark Rutte, the US president said the two had drawn up what he called a "framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region".He hailed the solution as a "great one for the United States of America, and all NATO Nations," if consummated. The POTUS also backed down from his tariff threats. ON Truth Social, he said, "Based upon this understanding, I will not be imposing the Tariffs that were scheduled to go into effect on February 1st. Additional discussions are being held concerning The Golden Dome as it pertains to Greenland. Further information will be made available as discussions progress."<h2>How is Trump's Greenland deal similar to the UK-Cyprus deal?</h2>Reports suggest that Trump's framework mirrors the United Kingdom's long-standing agreement with Cyprus, a small island nation in the Mediterranean Sea. Under the UK-Cyprus deal, Britain retains sovereign control over military bases on the island, even as Cyprus remains an independent State.Similarly, under the Greenland proposal, the United States is expected to gain sovereignty over some parts of the frozen island. The New York Times, citing senior officials familiar with the talks, reported that the framework being discussed could include a clause giving the United States sovereignty over parts of certain pockets of Greenland, and not the whole island.Also read | <a href="https://www.wionews.com/trending/sometimes-people-need-a-dictator-trump-stuns-davos-after-greenland-rant-1769047692322">Sometimes people 'need a dictator’: Trump stuns Davos with sinister threat after Greenland rant</a>Reportedly, under the proposal, America would be able to carry out military operations, intelligence gathering missions, and training without having to seek permission from Denmark. If the deal goes through, it is expected that American bases in Greenland would be recognised as US territory in the Arctic. The move, as per reports, is intended to alleviate Danish concerns about Trump's America potentially acquiring Greenland.It could also come with provisions for the US to conduct limited local development, including potential mining of rare earth minerals. Greenland sits on large reserves of rare earth elements, materials that are critical for everything from smartphones to missile systems. &nbsp;

US President Donald Trump has announced a Greenland ‘framework’ deal that would potentially give the US control over parts of the island. The plan, as per reports, bears a striking resemblance to a UK-Cyprus deal. Here's all you need to know.

US President Donald Trump on Wednesday (Jan 21) took a U-turn on his hardline push to acquire Greenland, dropping his 500 per cent tariff threat against those opposing him. Just hours after using the stage at the World Economic Forum in Davos to hint at a softer approach on Greenland, the POTUS met with NATO chief Mark Rutte, and afterwards announced a Greenland framework deal. The deal, as per reports, carries a striking resemblance to the UK's Cyprus territory arrangement. Here's all you need to know about the two deals. Also read | Trump drops 500% tariff threat, unveils Greenland ‘framework deal’ with NATO | Details inside Trump's framework deal for Greenland After meeting NATO Secretary General Mark Rutte, the US president said the two had drawn up what he called a "framework of a future deal with respect to Greenland and, in fact, the entire Arctic Region". He hailed the solution as a "great one for the United States of America, and all NATO Nations," if consummated. The POTUS also backed down from his tariff threats. ON Truth Social, he said, "Based upon this understanding, I will not be imposing the Tariffs that were scheduled to go into effect on February 1st. Additional discussions are being held concerning The Golden Dome as it pertains to Greenland. Further information will be made available as discussions progress." How is Trump's Greenland deal similar to the UK-Cyprus deal? Reports suggest that Trump's framework mirrors the United Kingdom's long-standing agreement with Cyprus, a small island nation in the Mediterranean Sea. Under the UK-Cyprus deal, Britain retains sovereign control over military bases on the island, even as Cyprus remains an independent State. Similarly, under the Greenland proposal, the United States is expected to gain sovereignty over some parts of the frozen island. The New York Times, citing senior officials familiar with the talks, reported that the framework being discussed could include a clause giving the United States sovereignty over parts of certain pockets of Greenland, and not the whole island. Also read | Sometimes people 'need a dictator’: Trump stuns Davos with sinister threat after Greenland rant Reportedly, under the proposal, America would be able to carry out military operations, intelligence gathering missions, and training without having to seek permission from Denmark. If the deal goes through, it is expected that American bases in Greenland would be recognised as US territory in the Arctic. The move, as per reports, is intended to alleviate Danish concerns about Trump's America potentially acquiring Greenland. It could also come with provisions for the US to conduct limited local development, including potential mining of rare earth minerals. Greenland sits on large reserves of rare earth elements, materials that are critical for everything from smartphones to missile systems.

US President Donald Trump has announced a Greenland ‘framework’ deal that would potentially give the US control over parts of the island. The plan, as per reports, bears a striking resemblance to a UK-Cyprus deal. Here's all you need to know.

Trump's 'great' Greenland deal bears striking similarities to Britain’s Cyprus base pact | All details here

Zohran Mamdani insists that his administration will tax the rich, as promised. Just three weeks into the job, the New York mayor is already picking a fight with Albany. On Wednesday (Jan 21), he brushed aside Governor Kathy Hochul's newly released state budget, which came without any raise in income taxes, and said that it was time for NYC's "wealthiest residents to pay their fair share"<h2>"Tax the rich"</h2>"Our administration is preparing to make the case that it is the time for New York's most profitable corporations and wealthiest residents to pay their fair share," Mamdani told reporters at the Whitney Museum in Manhattan.This statement comes just a day after Hochul rolled out a $260 billion budget for New York, one of the largest in the state's history, as she heads into a tough election year with pressure coming from all sides.Also read | <a href="https://www.wionews.com/world/davos-2026-key-takeaways-from-donald-trump-s-angry-greenland-obsessed-speech-nato-and-ungrateful-europe-1769040847782">Davos 2026: Key takeaways from Trump's angry, Greenland-obsessed speech</a><h2>Not enough for City Hall</h2>Hochul's plan includes a major expansion of universal pre k, something Mamdani has long backed. Still, it was not enough to soften his stance. The mayor argued that New York City sends far more money to Albany than it gets back.The city, he said, generates 54.5 per cent of the state's tax revenue but receives only 40.5 per cent in return. Any tax hike for the city would need approval from the state legislature."What we are looking to do is to tackle long-standing fiscal issues that both have to do with the need for more revenue from the highest earners, but also the relationship between City Hall and Albany, " Mamdani said, pointing to both the need for more revenue from top earners.Hochul, for her part, has not ruled out tax hikes forever. But her budget director, Blake Washington, made her position clear this week. "She thinks it’s a last resort to raise taxes on anybody at any time," he said.Also read | <a href="https://www.wionews.com/trending/-gulf-of-trump-had-a-good-ring-trump-reveals-wild-renaming-plan-for-gulf-of-mexico-says-he-feared-getting-killed-1768979268262">'Gulf of Trump had a good ring': Trump reveals wild renaming plan for 'Gulf of Mexico,' says he feared getting killed</a><h2>A deficit and a target</h2>Mamdani inherited a problem. A $12.6 billion budget deficit is projected over the next two fiscal years, reports the New York Post. On Wednesday, he pinned the deficit's blame squarely on his predecessor, former Mayor Eric Adams. However, he insisted that the state was on steady ground."I think that it’s actually the governor’s fiscal stewardship, I think it’s also the strength of our city’s tax base, that the state is on firm financial footing," he said. "The issue, however, is that the city is not, and that is a result, a direct result of Eric Adams’s gross fiscal mismanagement," he added.<h2>Political pressure on Hochul</h2>The standoff puts Hochul in a bind. She is already facing a primary challenge from her lieutenant governor, Antonio Delgado, who is running to her left. Republicans in the suburbs, including Nassau County executive Bruce Blakeman, are using Mamdani's rhetoric to paint her as captive to the party’s liberal wing.Despite Mamdani's push, city finances are not collapsing. Comptroller Mark Levine reported that tax revenue rose 7 per cent in the last fiscal year."This wasn't caused by a bad economy," he said. "It’s the result of budgeting decisions from the previous administration that we must now deal with."&nbsp;

New York Mayor Zohran Mamdani clashed with Governor Kathy Hochul after she released a tax-hike-free state budget. He says the city’s richest residents and corporations must pay more to plug a $12.6 billion deficit, blaming former mayor Eric Adams for it.

Zohran Mamdani insists that his administration will tax the rich, as promised. Just three weeks into the job, the New York mayor is already picking a fight with Albany. On Wednesday (Jan 21), he brushed aside Governor Kathy Hochul's newly released state budget, which came without any raise in income taxes, and said that it was time for NYC's "wealthiest residents to pay their fair share" "Tax the rich" "Our administration is preparing to make the case that it is the time for New York's most profitable corporations and wealthiest residents to pay their fair share," Mamdani told reporters at the Whitney Museum in Manhattan. This statement comes just a day after Hochul rolled out a $260 billion budget for New York, one of the largest in the state's history, as she heads into a tough election year with pressure coming from all sides. Also read | Davos 2026: Key takeaways from Trump's angry, Greenland-obsessed speech Not enough for City Hall Hochul's plan includes a major expansion of universal pre k, something Mamdani has long backed. Still, it was not enough to soften his stance. The mayor argued that New York City sends far more money to Albany than it gets back. The city, he said, generates 54.5 per cent of the state's tax revenue but receives only 40.5 per cent in return. Any tax hike for the city would need approval from the state legislature. "What we are looking to do is to tackle long-standing fiscal issues that both have to do with the need for more revenue from the highest earners, but also the relationship between City Hall and Albany, " Mamdani said, pointing to both the need for more revenue from top earners. Hochul, for her part, has not ruled out tax hikes forever. But her budget director, Blake Washington, made her position clear this week. "She thinks it’s a last resort to raise taxes on anybody at any time," he said. Also read | 'Gulf of Trump had a good ring': Trump reveals wild renaming plan for 'Gulf of Mexico,' says he feared getting killed A deficit and a target Mamdani inherited a problem. A $12.6 billion budget deficit is projected over the next two fiscal years, reports the New York Post. On Wednesday, he pinned the deficit's blame squarely on his predecessor, former Mayor Eric Adams. However, he insisted that the state was on steady ground. "I think that it’s actually the governor’s fiscal stewardship, I think it’s also the strength of our city’s tax base, that the state is on firm financial footing," he said. "The issue, however, is that the city is not, and that is a result, a direct result of Eric Adams’s gross fiscal mismanagement," he added. Political pressure on Hochul The standoff puts Hochul in a bind. She is already facing a primary challenge from her lieutenant governor, Antonio Delgado, who is running to her left. Republicans in the suburbs, including Nassau County executive Bruce Blakeman, are using Mamdani's rhetoric to paint her as captive to the party’s liberal wing. Despite Mamdani's push, city finances are not collapsing. Comptroller Mark Levine reported that tax revenue rose 7 per cent in the last fiscal year. "This wasn't caused by a bad economy," he said. "It’s the result of budgeting decisions from the previous administration that we must now deal with."

New York Mayor Zohran Mamdani clashed with Governor Kathy Hochul after she released a tax-hike-free state budget. He says the city’s richest residents and corporations must pay more to plug a $12.6 billion deficit, blaming former mayor Eric Adams for it.

‘Tax the rich’: Zohran Mamdani takes on Kathy Hochul a day after $260 billion New York budget unveiling

Union Minister for Electronics and Information Technology Ashwini Vaishnaw resolutely corrected International Monetary Fund (IMF) Managing Director Kristalina Georgieva’s statement categorising India as a “second-tier” artificial intelligence (AI) power and asserted that India clearly belongs among the world’s leading AI nations, and alluded to the Stanford University rankings that put India in third place globally.&nbsp;Vaishnaw’s calm and composed response to Georgieva’s remarks on Wednesday during a panel discussion titled ‘AI Power Play’ at the World Economic Forum (WEF) Davos 2026, which focused on the global impact and future trajectory of AI, is gathering eyeballs on the social media and the video of the discussion is being shared widely with comments.&nbsp;&nbsp;

<blockquote class="twitter-tweet">Union Minister <a href="https://twitter.com/AshwiniVaishnaw?ref_src=twsrc%5Etfw">@AshwiniVaishnaw</a> says India is democratizing AI by offering government-subsidised GPU access at one-third of the global cost, free AI models for common needs, training 10 million people in AI skills, and steering the IT industry toward scalable AI services for… <a href="https://t.co/drOXcMfK97">pic.twitter.com/drOXcMfK97</a>&mdash; DD News (@DDNewslive) <a href="https://twitter.com/DDNewslive/status/2013880627142238333?ref_src=twsrc%5Etfw">January 21, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

&nbsp;Also Read: <a href="https://www.wionews.com/world/-canada-should-be-grateful-to-us-trump-castigates-carney-after-his-fiery-speech-1769012325712">‘Canada should be grateful to US,’ Trump castigates Carney after his fiery speech</a>&nbsp;Speaking in the panel discussion, the IMF chief said countries such as the US, Denmark, and Singapore formed the top tier in AI development and placed India in the second group, describing it as a second-tier AI power that is not yet a global leader in the field, though she acknowledged India’s long-term investments in information technology.&nbsp;Responding to the comment, Vaishnaw said the IMF’s assessment did not align with widely accepted global benchmarks.&nbsp;“I don’t know what the IMF’s criteria are, but Stanford University ranks India third in the world in AI penetration, AI preparedness, and AI talent. It ranks second in AI talent. Therefore, your second-tier classification is incorrect. India is clearly in the first group,” Vaishnaw said.&nbsp;&nbsp;&nbsp;

<blockquote class="twitter-tweet">Absolute treat watching Ashwini Vaishnaw masterfully school the IMF Chief on AI at Davos, politely dismantling her &quot;second-tier&quot; label with Stanford&#39;s ranking of India at #3 <a href="https://t.co/qfaP93kFwu">pic.twitter.com/qfaP93kFwu</a>&mdash; Rishi Bagree (@rishibagree) <a href="https://twitter.com/rishibagree/status/2013867976802607609?ref_src=twsrc%5Etfw">January 21, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

&nbsp;Also Read: <a href="https://www.wionews.com/world/-europe-prefers-dialogue-and-solutions-but-fully-prepared-to-act-if-necessary-says-von-der-leyen-at-davos-2026-1768995043904">‘Europe prefers dialogue and solutions, but fully prepared to act if necessary,’ says Von der Leyen at Davos 2026</a><h2>‘AI leadership not determined by building large models’</h2>&nbsp;Vaishnaw emphasised that India’s AI strategy is firmly anchored in real-world deployment and return on investment (ROI) rather than an excessive focus on very large models. He stressed that leadership in AI is not defined solely by building large foundational models.“Return on investment (ROI) doesn’t come from building large models. 95% of the work is done by models with 20–50 billion parameters. India has already built many such models and is deploying them in various sectors, leading to improved productivity, efficiency, and technology utilisation,” he said.&nbsp;<h2>‘India advancing across all five layers of AI architecture’</h2>&nbsp;The Union Minister said India is advancing across all five layers of AI architecture, the application layer, model layer, chip layer, infrastructure layer, and energy layer.“India will become the world’s largest service provider at the application layer. Understanding the enterprise’s business and providing services through AI applications will generate the highest ROI. India’s focus is on diffusing AI on a large scale, not just on scale,” Vaishnav said.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/world/-globalisation-failed-the-west-and-us-says-us-commerce-secretary-howard-lutnick-at-davos-2026-1768990421968">‘Globalisation failed the West and US’: says US commerce secretary Howard Lutnick at Davos 2026</a><h2>‘India ranks among the top three globally’</h2>&nbsp;Citing a Stanford report, Vaishnav said India ranks among the top three globally in AI penetration, preparedness and talent, and second in AI talent.He added that India is building a comprehensive semiconductor ecosystem encompassing design, fabrication, packaging, materials and equipment. Global technology firms, including Google, are expanding AI data centres in India and deepening partnerships with Indian startups.Vaishnav said these developments reflect growing international recognition of India as a trusted AI partner, with the country focusing on the fifth Industrial Revolution, where smaller, cost-effective solutions are expected to deliver higher returns.&nbsp;&nbsp;&nbsp;

<blockquote class="twitter-tweet"><a href="https://twitter.com/hashtag/Watch?src=hash&amp;ref_src=twsrc%5Etfw">#Watch</a> | Union Minister <a href="https://twitter.com/AshwiniVaishnaw?ref_src=twsrc%5Etfw">@AshwiniVaishnaw</a> says nearly 95% of AI work can be done using the 20–50 billion parameter models, which India is already deploying across sectors to boost productivity and efficiency. He added that Stanford ranks India third globally in AI penetration,… <a href="https://t.co/i2dc27PaEc">pic.twitter.com/i2dc27PaEc</a>&mdash; DD News (@DDNewslive) <a href="https://twitter.com/DDNewslive/status/2013869737940525128?ref_src=twsrc%5Etfw">January 21, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

&nbsp;Also Read: <a href="https://www.wionews.com/world/japan-restarts-world-s-largest-nuclear-plant-15-years-after-shutting-down-all-reactors-1769006962093">Japan restarts world’s largest nuclear plant, 15 years after shutting down all reactors</a><h2>‘India has developed a bouquet of efficient, cost-effective models’</h2>&nbsp;He highlighted that India has already developed a bouquet of such efficient, cost-effective models, which are being deployed across sectors to enhance productivity, efficiency and effective technology use. This approach, focused on offering maximum return at low cost, reflects India’s emphasis on economically sustainable AI deployment.&nbsp;The panel discussion titled “AI Power Play” was moderated by Ian Bremmer, President of Eurasia Group, also featured Brad Smith, President and Vice Chair of Microsoft, and Khalid Al-Falih, Minister of Investment, Kingdom of Saudi Arabia besides the IMF Managing Director Georgieva and Vaishnaw.

Union Minister Ashwini Vaishnaw emphasised that India’s AI strategy is firmly anchored in real-world deployment and return on investment (ROI) rather than an excessive focus on very large models. He stressed that leadership in AI is not defined solely by building large foundational models.

Union Minister for Electronics and Information Technology Ashwini Vaishnaw resolutely corrected International Monetary Fund (IMF) Managing Director Kristalina Georgieva’s statement categorising India as a “second-tier” artificial intelligence (AI) power and asserted that India clearly belongs among the world’s leading AI nations, and alluded to the Stanford University rankings that put India in third place globally. Vaishnaw’s calm and composed response to Georgieva’s remarks on Wednesday during a panel discussion titled ‘AI Power Play’ at the World Economic Forum (WEF) Davos 2026, which focused on the global impact and future trajectory of AI, is gathering eyeballs on the social media and the video of the discussion is being shared widely with comments.

Union Minister Ashwini Vaishnaw emphasised that India’s AI strategy is firmly anchored in real-world deployment and return on investment (ROI) rather than an excessive focus on very large models. He stressed that leadership in AI is not defined solely by building large foundational models.

Davos 2026: Ashwini Vaishnaw corrects IMF chief, says India among ‘top tier’ AI powers

Deepinder Goyal, founder of Eternal, the parent company of Blinkit and Zomato, has stepped down as the chief executive of the company, according to a stock exchange filing. After the resignation of Goyal, Eternal has appointed Blinkit founder and CEO Albinder Dhindsa as his successor, with the change taking effect on February 1.<h3>Goyal as the role of vice-chairman</h3>Goyal will take on the role of vice-chairman and continue to serve on Eternal’s board. He added that day-to-day operating decisions will now be handled by Dhindsa. "Of late, I have found myself drawn to a set of new ideas that involve significantly higher risk exploration and experimentation. These are the kinds of ideas that are better pursued outside a public company like Eternal," Goyal said in a letter to shareholders.&nbsp;"As group CEO, he will own day-to-day execution, operating priorities, and business decisions," he said. Goyal further said that the journey of Blinkit from acquisition to breakeven was managed by Dhindsa, who is "more than capable of leading Eternal" as group CEO.&nbsp;Citing sources, the Economic Times indicated that, for now, Dhindsa will continue to head Blinkit. As part of the leadership transition, Goyal's unvested stock options will return to the employee stock option (Esop) pool.&nbsp;Goyal co-founded Zomato in 2008 with Pankaj Chaddah. Originally launched as Foodiebay, a restaurant menu and reviews platform, it later grew into one of India’s largest food delivery companies. Over the past year, Goyal has also pursued several deeptech, longevity and research ventures outside Eternal.

Goyal co-founded Zomato in 2008 with Pankaj Chaddah. Originally launched as Foodiebay, a restaurant menu and reviews platform, it later grew into one of India’s largest food delivery companies. 

Deepinder Goyal, founder of Eternal, the parent company of Blinkit and Zomato, has stepped down as the chief executive of the company, according to a stock exchange filing. After the resignation of Goyal, Eternal has appointed Blinkit founder and CEO Albinder Dhindsa as his successor, with the change taking effect on February 1. Goyal as the role of vice-chairman Goyal will take on the role of vice-chairman and continue to serve on Eternal’s board. He added that day-to-day operating decisions will now be handled by Dhindsa. "Of late, I have found myself drawn to a set of new ideas that involve significantly higher risk exploration and experimentation. These are the kinds of ideas that are better pursued outside a public company like Eternal," Goyal said in a letter to shareholders. "As group CEO, he will own day-to-day execution, operating priorities, and business decisions," he said. Goyal further said that the journey of Blinkit from acquisition to breakeven was managed by Dhindsa, who is "more than capable of leading Eternal" as group CEO. Citing sources, the Economic Times indicated that, for now, Dhindsa will continue to head Blinkit. As part of the leadership transition, Goyal's unvested stock options will return to the employee stock option (Esop) pool. Goyal co-founded Zomato in 2008 with Pankaj Chaddah. Originally launched as Foodiebay, a restaurant menu and reviews platform, it later grew into one of India’s largest food delivery companies. Over the past year, Goyal has also pursued several deeptech, longevity and research ventures outside Eternal.

Goyal co-founded Zomato in 2008 with Pankaj Chaddah. Originally launched as Foodiebay, a restaurant menu and reviews platform, it later grew into one of India’s largest food delivery companies.&nbsp;

Deepinder Goyal steps down as Eternal CEO; Albinder Dhindsa to take charge

President of the European Commission Ursula von der Leyen said on Wednesday that Europe prefers dialogue and solutions, but is fully prepared to act if necessary with unity, urgency and determination if such a need arises.Referring to the escalation in tensions over Trump’s quest to acquire Greenland, she said “the threat of additional tariffs for security reasons is simply wrong” and added that Europe’s leaders are meeting on Thursday to discuss response to the US president’s threatened tariffs.“Europe prefers dialogue and solutions, but we are fully prepared to act if necessary with unity, urgency and determination,” she said.She acknowledged that there has been a shift in the international order that “is not only seismic but it is permanent.”“We now live in a world defined by raw power,” Von der Leyen said, adding that it is now “imperative” for Europe to “speed up our push for independence”, and get “new levers of power”.&nbsp;Also Read: <a href="https://www.wionews.com/world/-globalisation-failed-the-west-and-us-says-us-commerce-secretary-howard-lutnick-at-davos-2026-1768990421968">‘Globalisation failed the West and US’: says US commerce secretary Howard Lutnick at Davos 2026</a><h2>Macron urges EU to consider retaliation against US tariffs</h2>&nbsp;European countries are strongly opposing Donald Trump’s efforts to acquire Greenland and threatening tariffs on nations opposing his plan.French President Emmanuel Macron said at the World Economic Forum on Tuesday that he preferred “respect to bullies” and the “rule of law to brutality”.&nbsp;The US president had threatened to levy a 200% tariff on French wine and champagne, after the French premier declined an invitation to join Trump’s international ‘Board of Peace’.Macron is among the leaders who have been urging the EU to consider retaliatory options against US tariffs, including an anti-coercion tool nicknamed “trade bazooka”.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/world/davos-2026-seven-indian-ceos-invited-to-trump-s-wef-reception-know-who-they-are-1768981581092">Davos 2026: Seven Indian CEOs invited to Trump’s WEF reception — Know who they are?</a><h2>What is Anti-Coercion Instrument (ACI) or ‘trade bazooka’?</h2>&nbsp;The ‘Anti-Coercion Instrument’ (ACI) was approved by Brussels in 2023 in order to deter attempts by outside powers to force policy changes on the EU or member states. It was given a nod at a time when a threat was seen as coming from China, which had “punished” Lithuania for its links with Taiwan by putting restrictions on bilateral trade.If there is agreement that coercion has been attempted by an outside power, and if negotiations to resolve the conflict fail, then the EU has enhanced powers to retaliate “within international law”.The ACI permits import and export restrictions to be placed on goods and services, but also on intellectual property rights and foreign direct investment.It also enables the imposition of various restrictions on access to the EU market. However, the ACI has never been used till now.&nbsp;

European countries are strongly opposing Donald Trump’s efforts to acquire Greenland and threatening tariffs on nations opposing his plan. French President Emmanuel Macron said at the World Economic Forum that he preferred “respect to bullies” and the “rule of law to brutality”.

President of the European Commission Ursula von der Leyen said on Wednesday that Europe prefers dialogue and solutions, but is fully prepared to act if necessary with unity, urgency and determination if such a need arises. Referring to the escalation in tensions over Trump’s quest to acquire Greenland, she said “the threat of additional tariffs for security reasons is simply wrong” and added that Europe’s leaders are meeting on Thursday to discuss response to the US president’s threatened tariffs. “Europe prefers dialogue and solutions, but we are fully prepared to act if necessary with unity, urgency and determination,” she said. She acknowledged that there has been a shift in the international order that “is not only seismic but it is permanent.” “We now live in a world defined by raw power,” Von der Leyen said, adding that it is now “imperative” for Europe to “speed up our push for independence”, and get “new levers of power”. Also Read: ‘Globalisation failed the West and US’: says US commerce secretary Howard Lutnick at Davos 2026 Macron urges EU to consider retaliation against US tariffs European countries are strongly opposing Donald Trump’s efforts to acquire Greenland and threatening tariffs on nations opposing his plan. French President Emmanuel Macron said at the World Economic Forum on Tuesday that he preferred “respect to bullies” and the “rule of law to brutality”. The US president had threatened to levy a 200% tariff on French wine and champagne, after the French premier declined an invitation to join Trump’s international ‘Board of Peace’. Macron is among the leaders who have been urging the EU to consider retaliatory options against US tariffs, including an anti-coercion tool nicknamed “trade bazooka”. Also Read: Davos 2026: Seven Indian CEOs invited to Trump’s WEF reception — Know who they are? What is Anti-Coercion Instrument (ACI) or ‘trade bazooka’? The ‘Anti-Coercion Instrument’ (ACI) was approved by Brussels in 2023 in order to deter attempts by outside powers to force policy changes on the EU or member states. It was given a nod at a time when a threat was seen as coming from China, which had “punished” Lithuania for its links with Taiwan by putting restrictions on bilateral trade. If there is agreement that coercion has been attempted by an outside power, and if negotiations to resolve the conflict fail, then the EU has enhanced powers to retaliate “within international law”. The ACI permits import and export restrictions to be placed on goods and services, but also on intellectual property rights and foreign direct investment. It also enables the imposition of various restrictions on access to the EU market. However, the ACI has never been used till now.

European countries are strongly opposing Donald Trump’s efforts to acquire Greenland and threatening tariffs on nations opposing his plan. French President Emmanuel Macron said at the World Economic Forum that he preferred “respect to bullies” and the “rule of law to brutality”.

‘Europe prefers dialogue and solutions, but fully prepared to act if necessary,’ says Von der Leyen at Davos 2026

US Commerce Secretary Howard Lutnick has said that globalisation has proved to be a failed policy as it has failed the West and the United States. Lutnick said that the Trump Administration is very clear that the existing global economic model has left American workers behind. Speaking in Davos, on the sidelines of the World Economic Forum, Lutnick said the policies followed by the West for decades on exports, offshoring, and finding the cheapest labour worldwide damaged the domestic industries and workers.“We are in Davos at the World Economic Forum, and the Trump administration and myself. We are here to make a very clear point. Globalisation has failed the West and the United States of America. It’s a failed policy,” Lutnick said.&nbsp;<h2>‘Globalisation hollowed out domestic industrial bases’</h2>&nbsp;Globalisation was promoted as a way to make the world a better place, but in reality, it hollowed out domestic industrial bases and weakened national economies. The model prioritised offshoring production and far-shoring supply chains, which left America and its workers behind in the long run, he added.&nbsp;Under its ‘America First’ policy, the Trump administration is advocating a different approach, placing domestic workers and national interests at the centre of economic decision-making, said Lutnick, adding that other countries should also consider adopting this model.&nbsp;“And what we are here to say is that America first is a different model, one that we encourage other countries to consider, which is that our workers come first,” he said.Linking economic policy closely with sovereignty, he said that control over critical industries is fundamental and argued that countries should not offshore essential sectors like medicines and semiconductors.“And if you’re going to be dependent on someone, it darn well better be your best allies."&nbsp;<h2>‘Europe’s carbon neutrality goals mean becoming dependent on China’</h2>&nbsp;He pointed out the West’s policy inconsistency on energy and climate and questioned why major European countries are focusing on developing solar and wind energy to achieve ‘carbon neutrality’ goals when they don’t have the battery manufacturing capabilities.&nbsp;“Committing to carbon neutrality by 2030 is no different from deciding to become dependent on battery-producing China,” he added.&nbsp;&nbsp;<h2>‘Lutnick is factually wrong. Why engage in convenient deception’</h2>&nbsp;&nbsp;Reacting to Lutnick’s comments, India’s former foreign secretary Kanwal Sibal said no one forced globalisation on the US, and it was, in fact, the main force behind it.&nbsp;“The US itself was the main force behind globalisation. It was made possible by the collapse of the Soviet Union and US unilateralism that followed. Globalisation was a product of the belief in the end of history in US circles. Globalisation became integral to the unchallenged assertion of America’s global hegemony,” he said in a post on X.&nbsp;&nbsp;

<blockquote class="twitter-tweet">The US itself was the main force behind globalisation . It was made possible by the collapse of the Soviet Union and US unilateralism that followed. Globalisation was a product of the belief in the end of history in US circles. Globalisation became integral to the… <a href="https://t.co/b6lHB00pPI">https://t.co/b6lHB00pPI</a>&mdash; Kanwal Sibal (@KanwalSibal) <a href="https://twitter.com/KanwalSibal/status/2013863207962845315?ref_src=twsrc%5Etfw">January 21, 2026</a></blockquote> <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>

&nbsp;“The US let this happen as it preferred to concentrate on maintaining its advance in high technology areas and wield its financial domination,” he said,“Lutnick is factually wrong. Why engage in convenient deception?” he said.&nbsp;The 56th Annual Meeting of the World Economic Forum is underway in Davos from January 19 to January 23, 2026, bringing together nearly 3,000 leaders from more than 130 countries.

Under its ‘America First’ policy, the Trump administration is advocating a different approach, placing domestic workers and national interests at the centre of economic decision-making, said Lutnick, adding that other countries should also consider adopting this model.

US Commerce Secretary Howard Lutnick has said that globalisation has proved to be a failed policy as it has failed the West and the United States. Lutnick said that the Trump Administration is very clear that the existing global economic model has left American workers behind. Speaking in Davos, on the sidelines of the World Economic Forum, Lutnick said the policies followed by the West for decades on exports, offshoring, and finding the cheapest labour worldwide damaged the domestic industries and workers. “We are in Davos at the World Economic Forum, and the Trump administration and myself. We are here to make a very clear point. Globalisation has failed the West and the United States of America. It’s a failed policy,” Lutnick said. ‘Globalisation hollowed out domestic industrial bases’ Globalisation was promoted as a way to make the world a better place, but in reality, it hollowed out domestic industrial bases and weakened national economies. The model prioritised offshoring production and far-shoring supply chains, which left America and its workers behind in the long run, he added. Under its ‘America First’ policy, the Trump administration is advocating a different approach, placing domestic workers and national interests at the centre of economic decision-making, said Lutnick, adding that other countries should also consider adopting this model. “And what we are here to say is that America first is a different model, one that we encourage other countries to consider, which is that our workers come first,” he said. Linking economic policy closely with sovereignty, he said that control over critical industries is fundamental and argued that countries should not offshore essential sectors like medicines and semiconductors. “And if you’re going to be dependent on someone, it darn well better be your best allies." ‘Europe’s carbon neutrality goals mean becoming dependent on China’ He pointed out the West’s policy inconsistency on energy and climate and questioned why major European countries are focusing on developing solar and wind energy to achieve ‘carbon neutrality’ goals when they don’t have the battery manufacturing capabilities. “Committing to carbon neutrality by 2030 is no different from deciding to become dependent on battery-producing China,” he added. ‘Lutnick is factually wrong. Why engage in convenient deception’ Reacting to Lutnick’s comments, India’s former foreign secretary Kanwal Sibal said no one forced globalisation on the US, and it was, in fact, the main force behind it. “The US itself was the main force behind globalisation. It was made possible by the collapse of the Soviet Union and US unilateralism that followed. Globalisation was a product of the belief in the end of history in US circles. Globalisation became integral to the unchallenged assertion of America’s global hegemony,” he said in a post on X.

Under its ‘America First’ policy, the Trump administration is advocating a different approach, placing domestic workers and national interests at the centre of economic decision-making, said Lutnick, adding that other countries should also consider adopting this model.

‘Globalisation failed the West and US’: says US commerce secretary Howard Lutnick at Davos 2026

Davos Week is in full swing in Switzerland, and Maharashtra isn’t just shaking hands — it’s closing deals and firming up some major plans. After a blockbuster opening day at the World Economic Forum, the state’s delegation returned to packed meeting rooms, more handshakes and fresh investment conversations, signalling that the momentum is very much intact.&nbsp;On the first day, Maharashtra announced investment commitments worth around Rs 14.5 lakh crore. Led by Chief Minister Devendra Fadnavis, Maharashtra has been in full pitch mode — selling its growth story, industrial muscle and long-term stability to global investors who are scanning Asia for their next big bet.&nbsp;Officials say while Day 1 was about big headline numbers, Day 2 focused on deepening commitments and widening the net. One of the key takeaways from the second day was the growing interest in non-metro Maharashtra. A major steel expansion in Gadchiroli stood out, with Surjagad Ispat stepping up its investment plans and doubling down on production capacity.&nbsp;For the state, this wasn’t just another MoU — it was a signal that investors are finally looking beyond Mumbai and Pune, towards resource-rich but underdeveloped districts. One of the standout developments was Maharashtra’s unveiling of the first city of its ambitious “Third Mumbai” project — Raigad–Pen.&nbsp;This new business district is being pitched like a next-generation urban hub, similar to Mumbai’s Bandra-Kurla Complex (BKC), with plans to attract high-paying jobs and big global investors. The day also saw intense discussions around technology, innovation and knowledge partnerships. Instead of only chasing capital, Maharashtra pitched itself as a destination for collaboration — from advanced manufacturing and data centres to clean energy and research ecosystems. Meetings with global universities and technology leaders were aimed at bringing ideas, talent and problem-solving skills back to the state, not just money.&nbsp;Fadnavis repeatedly stressed that Davos is not about quick wins. “These are long-term relationships,” officials said, adding that many of the deals announced will unfold over the next decade, creating jobs and supply chains along the way. The focus, they insist, is on investments that actually land on the ground — not just sign on paper.&nbsp;Back home, Maharashtra’s political churn hasn’t gone unnoticed, but at Davos, the pitch remained steady: policy continuity, fast approvals and a state machinery that understands scale.&nbsp;&nbsp;Also read: <a href="https://www.wionews.com/world/-substantially-larger-gifts-us-ambassador-to-singapore-faces-backlash-over-fundraising-for-july-4-celebrations-1768987748775">'Substantially larger gifts': US Ambassador to Singapore faces backlash over fundraising for July 4 celebrations</a>

After a blockbuster opening day at the World Economic Forum, the state’s delegation returned to packed meeting rooms, more handshakes and fresh investment conversations, signalling that the momentum is very much intact.

Davos Week is in full swing in Switzerland, and Maharashtra isn’t just shaking hands — it’s closing deals and firming up some major plans. After a blockbuster opening day at the World Economic Forum, the state’s delegation returned to packed meeting rooms, more handshakes and fresh investment conversations, signalling that the momentum is very much intact. On the first day, Maharashtra announced investment commitments worth around Rs 14.5 lakh crore. Led by Chief Minister Devendra Fadnavis, Maharashtra has been in full pitch mode — selling its growth story, industrial muscle and long-term stability to global investors who are scanning Asia for their next big bet. Officials say while Day 1 was about big headline numbers, Day 2 focused on deepening commitments and widening the net. One of the key takeaways from the second day was the growing interest in non-metro Maharashtra. A major steel expansion in Gadchiroli stood out, with Surjagad Ispat stepping up its investment plans and doubling down on production capacity. For the state, this wasn’t just another MoU — it was a signal that investors are finally looking beyond Mumbai and Pune, towards resource-rich but underdeveloped districts. One of the standout developments was Maharashtra’s unveiling of the first city of its ambitious “Third Mumbai” project — Raigad–Pen. This new business district is being pitched like a next-generation urban hub, similar to Mumbai’s Bandra-Kurla Complex (BKC), with plans to attract high-paying jobs and big global investors. The day also saw intense discussions around technology, innovation and knowledge partnerships. Instead of only chasing capital, Maharashtra pitched itself as a destination for collaboration — from advanced manufacturing and data centres to clean energy and research ecosystems. Meetings with global universities and technology leaders were aimed at bringing ideas, talent and problem-solving skills back to the state, not just money. Fadnavis repeatedly stressed that Davos is not about quick wins. “These are long-term relationships,” officials said, adding that many of the deals announced will unfold over the next decade, creating jobs and supply chains along the way. The focus, they insist, is on investments that actually land on the ground — not just sign on paper. Back home, Maharashtra’s political churn hasn’t gone unnoticed, but at Davos, the pitch remained steady: policy continuity, fast approvals and a state machinery that understands scale. Also read: 'Substantially larger gifts': US Ambassador to Singapore faces backlash over fundraising for July 4 celebrations

After a blockbuster opening day at the World Economic Forum, the state’s delegation returned to packed meeting rooms, more handshakes and fresh investment conversations, signalling that the momentum is very much intact.

From MoUs to mega plans: Maharashtra’s Davos run continues

At the start of the World Economic Forum 2026 in Davos, China warned the international community against return to the 'law of the jungle'. Donald Trump might want to make WEF all about himself and America, but the US president might take note of the quiet progress made by China in all areas of competition: trade, technology, warfare and climate. One recurring story in the current world order is the increasing territorial ambitions of both nations, one which assumes American supremacy and exceptionalism, and the other stressing a multipolar world. China’s slowly warming relations with European nations, Canada, India and the Arab world sharply contrast with the renewed conflict-mongering of Trump, from Greenland to Iran and further afield. Trump wants to thrust America into the centre of everything, be it the pursuit of peace in Gaza or the technology-trade rivalries involving semiconductors. But it appears China is smiling as Trump destroys alliances and friendships that took American leaders decades to build. Here is how the rivalry is shaping up.<h2>World Economic Forum: An annual 'do' turns into a crisis meeting</h2>Geopolitical tensions and trade and tariff wars form the backdrop for this year’s WEF, taking place on January 19–23, under the theme "A Spirit of Dialogue" with the aim of fostering cooperation amid global fractures. &nbsp;The WEF’s Global Risks Report 2026 identified geoeconomic - not geopolitical- confrontation as the most significant short-term threat to global stability. This includes the use of sanctions, tariffs, export controls and trade restrictions as instruments of state power. Most of it actually applies to the Trump administration. Cooperative mechanisms are crumbling, and multilateralism is in retreat. China–US rivalries are at the core of this global uncertainty.The WEF's session names are also ominous. One is titled "Is the World at a Breaking Point?", an example of the forum's shift from optimism to panic-mode realism. That's because trade, technology and finance are increasingly being weaponised in a global order where economic tools are central to strategic influence.<a href="https://www.wionews.com/videos/davos-2026-economic-development-trade-minister-of-maldives-mohamed-saeed-speaks-to-wion-1768971956455/embed">https://www.wionews.com/videos/davos-2026-economic-development-trade-minister-of-maldives-mohamed-saeed-speaks-to-wion-1768971956455/embed</a><h2>Trade, a new frontline pitting America against China</h2>China is working hard to appear as a stable and predictable trade partner, and has had a record $1.2 trillion trade surplus in 2025 as evidence. Vice-Premier He Lifeng highlighted China’s role in defending globalisation, touting the Belt and Road Initiative (BRI) as a tool for global stability and investment. Remember, only a few years ago, there was a lot of pessimism about BRI. US actions, on the other hand, prioritised protectionism and unilateral action under Trump’s so-called "Donroe doctrine".Tariffs, export controls on high-tech items like chips, and trade restrictions are framed as necessary to counter China’s industrial dominance. This approach risks the US being seen as a "bully".Both US allies and emerging powers are now exploring independent or China-aligned strategies. Global trade, which used to be largely immune to geopolitical tensions, is now fragmenting into geopolitical zones. This is leading several companies to adopt the "China +1" supply-chain strategy, hedging by diversifying production to India, South-East Asia, Mexico and Europe. India, Brazil and Gulf states are seeking more autonomy in global relations, but still face pressure from the US in the form of tariffs, sanctions or disincentives, making some of them tilt more towards China.Also read: <a href="https://www.wionews.com/world/wef-davos-2026-opens-without-founder-after-whistleblower-flags-financial-and-ethical-misconduct-1768897765147">WEF Davos 2026 opens without founder after whistleblower flags 'financial and ethical misconduct'</a><h2>Technology rivalry to the forefront: AI race, semiconductors</h2>Perhaps the fiercest arena of US–China competition is technology. AI acceleration and industrial innovation are dominating the Davos discussions. While the US has leadership in frontier AI research, proprietary ecosystems and advanced semiconductors, it is also employing export controls on critical chips to stay at the top of the race. But China enjoys advantages in scaling, deployment and industrial ecosystems. It is already leading the world in electric vehicles, &nbsp;renewable energy, robotics, 5G infrastructure and batteries. China has perfected this through decades of state-backed strategic investment, process knowledge and ferocious market competition.Low electricity costs in China, at $0.04–0.08/kWh, enable massive AI computing deployment compared to $0.15/kWh in the US. State-backed industrial policy and alternative chip quests position China to compete effectively despite US export restrictions.Also read: <a href="https://www.wionews.com/world/davos-2026-kerala-pavilion-inaugurated-at-wef-davos-as-global-investors-line-up-1768970543478">Davos 2026: Kerala Pavilion inaugurated at WEF Davos as global investors line up</a><h2>China vs US: A tussle between hegemony and multipolarity</h2>Davos 2026 reflects a broader power struggle over global governance, with China and the US at the two ends of the spectrum. China challenges US dominance in covert, overt or subtle manners, advocating a multipolar world through the Global Development Initiative and leadership in AI and clean energy standards. This is an approach that developing nations, particularly in regions like Africa, appear to embrace. China continues to be one of the key contributors to global GDP growth, more than 22 per cent of the total as per some estimates for 2026.The US, on the other hand, appears to be operating in chaos, controlled or otherwise. Under Trump, it is showing inconsistent diplomacy, reliance on sanctions, and choreographed rhetoric regarding actual conflicts and wars. Under such leadership, globalisation is fragmenting, and companies and nations are navigating these dual blocs or adopting hedging strategies.Disclaimer: The writer's views do not represent those of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer. &nbsp;

Davos 2026 is taking place amid intensifying US–China rivalry across geopolitics, trade and technology. China projects stability and multipolarity in spite of its domestic issues, while Trump’s America disrupts alliances and global cooperation.

At the start of the World Economic Forum 2026 in Davos, China warned the international community against return to the 'law of the jungle'. Donald Trump might want to make WEF all about himself and America, but the US president might take note of the quiet progress made by China in all areas of competition: trade, technology, warfare and climate. One recurring story in the current world order is the increasing territorial ambitions of both nations, one which assumes American supremacy and exceptionalism, and the other stressing a multipolar world. China’s slowly warming relations with European nations, Canada, India and the Arab world sharply contrast with the renewed conflict-mongering of Trump, from Greenland to Iran and further afield. Trump wants to thrust America into the centre of everything, be it the pursuit of peace in Gaza or the technology-trade rivalries involving semiconductors. But it appears China is smiling as Trump destroys alliances and friendships that took American leaders decades to build. Here is how the rivalry is shaping up. World Economic Forum: An annual 'do' turns into a crisis meeting Geopolitical tensions and trade and tariff wars form the backdrop for this year’s WEF, taking place on January 19–23, under the theme "A Spirit of Dialogue" with the aim of fostering cooperation amid global fractures. The WEF’s Global Risks Report 2026 identified geoeconomic - not geopolitical- confrontation as the most significant short-term threat to global stability. This includes the use of sanctions, tariffs, export controls and trade restrictions as instruments of state power. Most of it actually applies to the Trump administration. Cooperative mechanisms are crumbling, and multilateralism is in retreat. China–US rivalries are at the core of this global uncertainty. The WEF's session names are also ominous. One is titled "Is the World at a Breaking Point?", an example of the forum's shift from optimism to panic-mode realism. That's because trade, technology and finance are increasingly being weaponised in a global order where economic tools are central to strategic influence. https://www.wionews.com/videos/davos-2026-economic-development-trade-minister-of-maldives-mohamed-saeed-speaks-to-wion-1768971956455/embed Trade, a new frontline pitting America against China China is working hard to appear as a stable and predictable trade partner, and has had a record $1.2 trillion trade surplus in 2025 as evidence. Vice-Premier He Lifeng highlighted China’s role in defending globalisation, touting the Belt and Road Initiative (BRI) as a tool for global stability and investment. Remember, only a few years ago, there was a lot of pessimism about BRI. US actions, on the other hand, prioritised protectionism and unilateral action under Trump’s so-called "Donroe doctrine". Tariffs, export controls on high-tech items like chips, and trade restrictions are framed as necessary to counter China’s industrial dominance. This approach risks the US being seen as a "bully". Both US allies and emerging powers are now exploring independent or China-aligned strategies. Global trade, which used to be largely immune to geopolitical tensions, is now fragmenting into geopolitical zones. This is leading several companies to adopt the "China +1" supply-chain strategy, hedging by diversifying production to India, South-East Asia, Mexico and Europe. India, Brazil and Gulf states are seeking more autonomy in global relations, but still face pressure from the US in the form of tariffs, sanctions or disincentives, making some of them tilt more towards China. Also read: WEF Davos 2026 opens without founder after whistleblower flags 'financial and ethical misconduct' Technology rivalry to the forefront: AI race, semiconductors Perhaps the fiercest arena of US–China competition is technology. AI acceleration and industrial innovation are dominating the Davos discussions. While the US has leadership in frontier AI research, proprietary ecosystems and advanced semiconductors, it is also employing export controls on critical chips to stay at the top of the race. But China enjoys advantages in scaling, deployment and industrial ecosystems. It is already leading the world in electric vehicles, renewable energy, robotics, 5G infrastructure and batteries. China has perfected this through decades of state-backed strategic investment, process knowledge and ferocious market competition. Low electricity costs in China, at $0.04–0.08/kWh, enable massive AI computing deployment compared to $0.15/kWh in the US. State-backed industrial policy and alternative chip quests position China to compete effectively despite US export restrictions. Also read: Davos 2026: Kerala Pavilion inaugurated at WEF Davos as global investors line up China vs US: A tussle between hegemony and multipolarity Davos 2026 reflects a broader power struggle over global governance, with China and the US at the two ends of the spectrum. China challenges US dominance in covert, overt or subtle manners, advocating a multipolar world through the Global Development Initiative and leadership in AI and clean energy standards. This is an approach that developing nations, particularly in regions like Africa, appear to embrace. China continues to be one of the key contributors to global GDP growth, more than 22 per cent of the total as per some estimates for 2026. The US, on the other hand, appears to be operating in chaos, controlled or otherwise. Under Trump, it is showing inconsistent diplomacy, reliance on sanctions, and choreographed rhetoric regarding actual conflicts and wars. Under such leadership, globalisation is fragmenting, and companies and nations are navigating these dual blocs or adopting hedging strategies. Disclaimer: The writer's views do not represent those of WION or ZMCL. Nor does WION or ZMCL endorse the views of the writer.

Davos 2026 is taking place amid intensifying US–China rivalry across geopolitics, trade and technology. China projects stability and multipolarity in spite of its domestic issues, while Trump’s America disrupts alliances and global cooperation.

Davos 2026 is also about US-China rivalry in geopolitics, trade and tech. And China is quietly winning

While speaking on the sidelines of the World Economic Forum in Davos on Tuesday, Minister of Civil Aviation Ram Mohan Naidu said India aims to build around 350 airports by 2047, adding that India has planned to build 50 airports in the next 5 years.&nbsp;"We have a plan to build 50 airports in the next 5 years, and by Viksit Bharat 2047, when we want to see a developed India, we want to have up to 350 airports," Naidu said on Tuesday, news agency ANI reported.&nbsp;"We are the third largest domestic aviation market in the world. It was not a natural growth, but rather due to policy-making, a strong infusion of capital into the civil aviation sector, and the whole idea of democratising civil aviation in the country and expanding regional connectivity..." he added.<h3>India's tremendous growth</h3>Naidu highlighted that India has witnessed a tremendous growth in the last 10-11 years, and it is expected to see this kind of growth for the next 25-30 years. He said that, along with building airports, India has ordered almost 1700 aircraft.&nbsp;"Every sector in India has seen a tremendous growth in the last 10-11 years and we are projected to see this kind of growth for the next 25-30 years. From 74 airports in 2014, we have grown to 164 today... We have a plan to build 50 airports in the next 5 years and by 2047, when we want to see a developed India, we want to have up to 350 airports. We have almost 1700 aircraft orders, and no other country has this kind of order... Every year, in civil aviation itself, we are growing at a growth rate of over 10-12%..." he added.&nbsp;Commenting on the ongoing engagements between state governments and foreign conglomerates, Minister Naidu said the aim was collaboration rather than mere gains. He emphasised the importance of contributing through meaningful dialogue and debate to build a future that is sustainable, safe, secure and driven by technology for everyone.&nbsp;At the World Economic Forum, several states, including Madhya Pradesh, Karnataka, Uttar Pradesh and Assam, have been actively holding talks with global leaders to explore a range of opportunities.&nbsp;Also read: <a href="https://www.wionews.com/business-economy/davos-2026-how-kerala-is-strengthening-brand-image-with-the-motto-responsible-investment-responsible-industry-1768554714220">Davos 2026 | How Kerala is strengthening brand image with the motto ‘responsible Investment, responsible Industry’</a> &nbsp;

Davos 2026: Ram Mohan Naidu highlighted that India has witnessed a tremendous growth in the last 10-11 years, and it is expected to see this kind of growth for the next 25-30 years. He said that, along with building airports, India has ordered almost 1700 aircraft.

While speaking on the sidelines of the World Economic Forum in Davos on Tuesday, Minister of Civil Aviation Ram Mohan Naidu said India aims to build around 350 airports by 2047, adding that India has planned to build 50 airports in the next 5 years. "We have a plan to build 50 airports in the next 5 years, and by Viksit Bharat 2047, when we want to see a developed India, we want to have up to 350 airports," Naidu said on Tuesday, news agency ANI reported. "We are the third largest domestic aviation market in the world. It was not a natural growth, but rather due to policy-making, a strong infusion of capital into the civil aviation sector, and the whole idea of democratising civil aviation in the country and expanding regional connectivity..." he added. India's tremendous growth Naidu highlighted that India has witnessed a tremendous growth in the last 10-11 years, and it is expected to see this kind of growth for the next 25-30 years. He said that, along with building airports, India has ordered almost 1700 aircraft. "Every sector in India has seen a tremendous growth in the last 10-11 years and we are projected to see this kind of growth for the next 25-30 years. From 74 airports in 2014, we have grown to 164 today... We have a plan to build 50 airports in the next 5 years and by 2047, when we want to see a developed India, we want to have up to 350 airports. We have almost 1700 aircraft orders, and no other country has this kind of order... Every year, in civil aviation itself, we are growing at a growth rate of over 10-12%..." he added. Commenting on the ongoing engagements between state governments and foreign conglomerates, Minister Naidu said the aim was collaboration rather than mere gains. He emphasised the importance of contributing through meaningful dialogue and debate to build a future that is sustainable, safe, secure and driven by technology for everyone. At the World Economic Forum, several states, including Madhya Pradesh, Karnataka, Uttar Pradesh and Assam, have been actively holding talks with global leaders to explore a range of opportunities. Also read: Davos 2026 | How Kerala is strengthening brand image with the motto ‘responsible Investment, responsible Industry’

Davos 2026: Ram Mohan Naidu highlighted that India has witnessed a tremendous growth in the last 10-11 years, and it is expected to see this kind of growth for the next 25-30 years. He said that, along with building airports, India has ordered almost 1700 aircraft.

India aims to build 350 airports by 2047: Civil Aviation Minister at Davos

The Artificial Intelligence-driven upskilling is leading to a steady increase in women's participation across India's science, technology, engineering and mathematics (STEM) ecosystem, a latest report by EY India said. Generative AI and technology-enabled skilling are emerging as significant catalysts for expanding women's participation in STEM careers in India. STEM-related upskilling has witnessed rapid adoption among women, supported by increased digital access, flexible learning pathways, and rising demand for future-focused skills, the report said. As per the data released by EY India in a report titled 'Breaking the code: The rise of women in India's STEM landscape', women's participation in STEM upskilling increased from 22 per cent in 2018-19 to 33% in 2023, reflecting a sustained shift in career aspirations and preparedness for high-growth technology roles. This momentum has been further accelerated by the rise of generative AI, with GenAI course enrolments surging 195% year-on-year in 2025. Meanwhile, companies are also signalling a positive trend. 62% of employers reported hiring more women in STEM roles in fiscal year 23-2024. Despite strong graduation rates and growing enthusiasm for technical upskilling, women remain underrepresented across several STEM-intensive sectors. In technology and IT, women account for 36% of STEM jobs, demonstrating comparatively stronger representation but still below parity. Representation drops significantly in heavy manufacturing and engineering, where women make up only 3% of the STEM workforce. In India's rapidly expanding electric mobility space, women hold approximately 13% of roles in the EV/automotive sector. At a macro level, national employment patterns also shape STEM outcomes. India's labour force participation rate for women rose to 41.7% in 2023-24. To fully harness the potential of women in STEM, the report calls for a comprehensive approach that expands inclusive education, strengthens mentorship and career support, and highlights women's achievements to inspire future talent.&nbsp;Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

In India's rapidly expanding electric mobility space, women hold approximately 13% of roles in the EV/automotive sector. At a macro level, national employment patterns also shape STEM outcomes. India's labour force participation rate for women rose to 41.7% in 2023-24.

The Artificial Intelligence-driven upskilling is leading to a steady increase in women's participation across India's science, technology, engineering and mathematics (STEM) ecosystem, a latest report by EY India said. Generative AI and technology-enabled skilling are emerging as significant catalysts for expanding women's participation in STEM careers in India. STEM-related upskilling has witnessed rapid adoption among women, supported by increased digital access, flexible learning pathways, and rising demand for future-focused skills, the report said. As per the data released by EY India in a report titled 'Breaking the code: The rise of women in India's STEM landscape', women's participation in STEM upskilling increased from 22 per cent in 2018-19 to 33% in 2023, reflecting a sustained shift in career aspirations and preparedness for high-growth technology roles. This momentum has been further accelerated by the rise of generative AI, with GenAI course enrolments surging 195% year-on-year in 2025. Meanwhile, companies are also signalling a positive trend. 62% of employers reported hiring more women in STEM roles in fiscal year 23-2024. Despite strong graduation rates and growing enthusiasm for technical upskilling, women remain underrepresented across several STEM-intensive sectors. In technology and IT, women account for 36% of STEM jobs, demonstrating comparatively stronger representation but still below parity. Representation drops significantly in heavy manufacturing and engineering, where women make up only 3% of the STEM workforce. In India's rapidly expanding electric mobility space, women hold approximately 13% of roles in the EV/automotive sector. At a macro level, national employment patterns also shape STEM outcomes. India's labour force participation rate for women rose to 41.7% in 2023-24. To fully harness the potential of women in STEM, the report calls for a comprehensive approach that expands inclusive education, strengthens mentorship and career support, and highlights women's achievements to inspire future talent. Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for WION audience.

In India's rapidly expanding electric mobility space, women hold approximately 13% of roles in the EV/automotive sector. At a macro level, national employment patterns also shape STEM outcomes. India's labour force participation rate for women rose to 41.7% in 2023-24.

GenAI fuels surge in women entering India’s STEM ecosystem, EY report says

The Reserve Bank of India is expected to keep key policy rates unchanged at its upcoming monetary policy review meeting, slated for February 4-6, 2026, according to Crisil. The monetary policy committee had reduced the repo rate by 25 basis points in its December meeting to 5.25 per cent. Their policy stance remained neutral, indicating a data-dependent approach going ahead.&nbsp;"We expect the RBI to stay put on policy rates given the creep up in inflation," Crisil said in a report. India's retail inflation rose from 0.71 per cent in November to 1.33 per cent in December, marking a moderate uptick. Though it remained below the RBI's target range of 2-4 per cent.&nbsp;RBI Governor Sanjay Malhotra in December characterised India's current macroeconomic moment as a "rare goldilocks period", which currently marks high economic growth and exceptionally low inflation. Given strong growth reported inthe July-September quarter, the RBI raised its GDP growth projection at 7.3 per cent for the full year, up by half a percentage point.&nbsp;Against this backdrop, Crisil expect India's GDP growth to moderate to 6.7 per cent next fiscal compared with the first advance estimate of 7.4 per cent this fiscal. "Challenging global trade environment, moderating domestic fiscal support and waning support from statistical factors, namely a low base and this fiscal's low deflator, are expected to drag growth next fiscal. However, nominal growth is expected to be higher due to rising inflation," Crisil said. The National Statistics Office's first advance estimates pegged real GDP growth at 7.4 per cent for this fiscal 2025-26, compared with 6.5 per cent last fiscal.&nbsp;Moving on to inflation, Crisil expects India's retail inflation to rise to 5.0 per cent next fiscal 2026-27 from an estimated 2.5 per cent in the current fiscal 2025-26. "Low food inflation of this fiscal should lend a statistical lift to inflation next year. However, softer commodity prices and continued impact of the Goods and Services Tax rationalisation should keep inflation within the RBI's target band," it said.&nbsp;Crisil also gave a view on crude oil prices. It expects crude oil prices to remain benign this fiscal, averaging USD 62-67 per barrel. In calendar 2026, it sees prices averaging USD 60-65 per barrel. Brent crude oil prices fell to USD 62.7 per barrel average in December, down 1.4 per cent month-on-month and 15.1 per cent year-on-year. At the time of filing this report, crude oil traded at USD 59 per barrel.&nbsp;Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for the WION audience.

RBI Governor Sanjay Malhotra in December characterised India's current macroeconomic moment as a "rare goldilocks period", which currently marks high economic growth and exceptionally low inflation.

The Reserve Bank of India is expected to keep key policy rates unchanged at its upcoming monetary policy review meeting, slated for February 4-6, 2026, according to Crisil. The monetary policy committee had reduced the repo rate by 25 basis points in its December meeting to 5.25 per cent. Their policy stance remained neutral, indicating a data-dependent approach going ahead. "We expect the RBI to stay put on policy rates given the creep up in inflation," Crisil said in a report. India's retail inflation rose from 0.71 per cent in November to 1.33 per cent in December, marking a moderate uptick. Though it remained below the RBI's target range of 2-4 per cent. RBI Governor Sanjay Malhotra in December characterised India's current macroeconomic moment as a "rare goldilocks period", which currently marks high economic growth and exceptionally low inflation. Given strong growth reported inthe July-September quarter, the RBI raised its GDP growth projection at 7.3 per cent for the full year, up by half a percentage point. Against this backdrop, Crisil expect India's GDP growth to moderate to 6.7 per cent next fiscal compared with the first advance estimate of 7.4 per cent this fiscal. "Challenging global trade environment, moderating domestic fiscal support and waning support from statistical factors, namely a low base and this fiscal's low deflator, are expected to drag growth next fiscal. However, nominal growth is expected to be higher due to rising inflation," Crisil said. The National Statistics Office's first advance estimates pegged real GDP growth at 7.4 per cent for this fiscal 2025-26, compared with 6.5 per cent last fiscal. Moving on to inflation, Crisil expects India's retail inflation to rise to 5.0 per cent next fiscal 2026-27 from an estimated 2.5 per cent in the current fiscal 2025-26. "Low food inflation of this fiscal should lend a statistical lift to inflation next year. However, softer commodity prices and continued impact of the Goods and Services Tax rationalisation should keep inflation within the RBI's target band," it said. Crisil also gave a view on crude oil prices. It expects crude oil prices to remain benign this fiscal, averaging USD 62-67 per barrel. In calendar 2026, it sees prices averaging USD 60-65 per barrel. Brent crude oil prices fell to USD 62.7 per barrel average in December, down 1.4 per cent month-on-month and 15.1 per cent year-on-year. At the time of filing this report, crude oil traded at USD 59 per barrel. Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for the WION audience.

RBI Governor Sanjay Malhotra in December characterised India's current macroeconomic moment as a "rare goldilocks period", which currently marks high economic growth and exceptionally low inflation.

RBI likely to hold rates in February as inflation edges up; no rate cut expected: Crisil

India is likely to retain its position as the fastest-growing major economy in the world with 6.4 per cent economic growth in both 2026 and 2027, amid global uncertainty, as per data released by the International Monetary Fund's (IMF) World Economic Outlook Update in January 2026.&nbsp;The IMF estimated India's economy to grow by 7.3 per cent in 2025, and 6.4 per cent for the next two years, significantly outshining global and advanced economy averages. Meanwhile, before easing slightly to 3.2 per cent in 2027, the world economy is expected to expand at 3.3 per cent in 2025 and 2026.<h3>India's growth path remains stronger</h3>India’s strong economic outlook is supported by solid domestic demand, continued public spending and a gradual pickup in private investment. In comparison with other major economies, India's growth path remains notably stronger. The United States is expected to expand at 2.4 per cent in 2026, China at 4.5 per cent, and the Euro Area by a modest 1.3 per cent.&nbsp;India also continues to lead among emerging and developing economies in Asia, outperforming its regional peers and playing a key role in Asia’s projected growth of 5.0 per cent in 2026. The IMF said emerging market and developing economies overall are likely to grow at 4.2 per cent in 2026, well below India’s forecast pace.&nbsp;"In India, growth is revised upward by 0.7 percentage point to 7.3 per cent for 2025, reflecting the better-than expected outturn in the third quarter of the year and strong momentum in the fourth quarter. Growth is projected to moderate to 6.4 per cent in 2026 and 2027 as cyclical and temporary factors wane," the IMF said.&nbsp;The IMF added that inflation in India is likely to return close to the target levels (2-6 per cent) after easing sharply in 2025, largely due to subdued food prices.&nbsp;On the global front, the IMF noted that challenges from changing trade policies are being balanced by strong investment in technology, including artificial intelligence (AI), particularly in North America and Asia, along with fiscal and monetary support, generally supportive financial conditions, and adaptability of the private sector.

The IMF estimated India's economy to grow by 7.3% in 2025 and 6.4 % for the next two years, significantly outshining global and advanced economy averages. Meanwhile, before easing slightly to 3.2 per cent in 2027, the world economy is expected to expand at 3.3 per cent in 2025 & 2026.

India is likely to retain its position as the fastest-growing major economy in the world with 6.4 per cent economic growth in both 2026 and 2027, amid global uncertainty, as per data released by the International Monetary Fund's (IMF) World Economic Outlook Update in January 2026. The IMF estimated India's economy to grow by 7.3 per cent in 2025, and 6.4 per cent for the next two years, significantly outshining global and advanced economy averages. Meanwhile, before easing slightly to 3.2 per cent in 2027, the world economy is expected to expand at 3.3 per cent in 2025 and 2026. India's growth path remains stronger India’s strong economic outlook is supported by solid domestic demand, continued public spending and a gradual pickup in private investment. In comparison with other major economies, India's growth path remains notably stronger. The United States is expected to expand at 2.4 per cent in 2026, China at 4.5 per cent, and the Euro Area by a modest 1.3 per cent. India also continues to lead among emerging and developing economies in Asia, outperforming its regional peers and playing a key role in Asia’s projected growth of 5.0 per cent in 2026. The IMF said emerging market and developing economies overall are likely to grow at 4.2 per cent in 2026, well below India’s forecast pace. "In India, growth is revised upward by 0.7 percentage point to 7.3 per cent for 2025, reflecting the better-than expected outturn in the third quarter of the year and strong momentum in the fourth quarter. Growth is projected to moderate to 6.4 per cent in 2026 and 2027 as cyclical and temporary factors wane," the IMF said. The IMF added that inflation in India is likely to return close to the target levels (2-6 per cent) after easing sharply in 2025, largely due to subdued food prices. On the global front, the IMF noted that challenges from changing trade policies are being balanced by strong investment in technology, including artificial intelligence (AI), particularly in North America and Asia, along with fiscal and monetary support, generally supportive financial conditions, and adaptability of the private sector.

The IMF estimated India's economy to grow by 7.3% in 2025 and 6.4 % for the next two years, significantly outshining global and advanced economy averages. Meanwhile, before easing slightly to 3.2 per cent in 2027, the world economy is expected to expand at 3.3 per cent in 2025 &amp; 2026.

India likely to remain world's fastest-growing economy amid global uncertainty: IMF

The International Monetary Fund (IMF) on Monday (Jan 19) upwardly revised India's economic growth projections for the current financial year (FY26) to 7.3 per cent from its earlier forecast of 6.6 per cent. The rise in growth figures is attributed to the "better-than-expected outturn in the third quarter of the year and strong momentum in the fourth quarter,” the IMF said.&nbsp;The multilateral agency estimated a sharp drop in India's GDP growth in FY 27 and FY 28 to moderate at 6.4 per cent. The country will retain its position as the world's fastest-growing major economy, outperforming global and advanced economy averages.&nbsp;IMF said inflation in India is expected to go back to near target levels (2-6 per cent) after a marked decline in 2025, driven by subdued food prices.In its latest World Economic Outlook, the IMF also upgraded its estimates for global economic growth for calendar years 2025 and 2026 to 3.3%, from 3.2% and 3.1%, respectively, in October. For 2027, it forecast 3.2% growth. However, it cautioned that over-optimism about about arteficial intellignece coupled with rising trade and geopolitical tensions can lead to a sharp market crash and disruption in the global economy.&nbsp;Also Read:<a href="https://www.wionews.com/world/after-pm-modi-russia-president-vladimir-putin-invited-to-join-trump-s-gaza-board-of-peace-1768822239920"> After PM Narendra Modi, Russia President Vladimir Putin invited to join Donald Trump's Gaza 'Board of Peace'</a>&nbsp;The IMF noted that emerging market and developing economies as a group are expected to grow at 4.2 per cent in 2026, while advanced economies as a bloc are estimated to grow at 1.8 per cent. India's growth figures released at the end of November 2025 surprised experts as the GDP growth unexpectedly surged to 8.2 per cent in the July-September quarter, surpassing earlier estimates. Based on the high figures, the Reserve Bank of India revised its growth forecast for teh the current financial year to 7.3 per cent. Earlier this month, the Ministry of Statistics and Programme Implementation (MoSPI) released the first advance estimate of GDP growth for 2025-26, pegging it at 7.4%. This implies a slowdown in growth to 6.9% in the second half of the year, from 8% in the first half.

The multilateral agency estimated a sharp drop in India's GDP growth in FY 27 and FY 28 to moderate at 6.4 per cent. The country will retain its position as the world's fastest-growing major economy, outperforming global and advanced economy averages.

The International Monetary Fund (IMF) on Monday (Jan 19) upwardly revised India's economic growth projections for the current financial year (FY26) to 7.3 per cent from its earlier forecast of 6.6 per cent. The rise in growth figures is attributed to the "better-than-expected outturn in the third quarter of the year and strong momentum in the fourth quarter,” the IMF said. The multilateral agency estimated a sharp drop in India's GDP growth in FY 27 and FY 28 to moderate at 6.4 per cent. The country will retain its position as the world's fastest-growing major economy, outperforming global and advanced economy averages. IMF said inflation in India is expected to go back to near target levels (2-6 per cent) after a marked decline in 2025, driven by subdued food prices. In its latest World Economic Outlook, the IMF also upgraded its estimates for global economic growth for calendar years 2025 and 2026 to 3.3%, from 3.2% and 3.1%, respectively, in October. For 2027, it forecast 3.2% growth. However, it cautioned that over-optimism about about arteficial intellignece coupled with rising trade and geopolitical tensions can lead to a sharp market crash and disruption in the global economy. Also Read: After PM Narendra Modi, Russia President Vladimir Putin invited to join Donald Trump's Gaza 'Board of Peace' The IMF noted that emerging market and developing economies as a group are expected to grow at 4.2 per cent in 2026, while advanced economies as a bloc are estimated to grow at 1.8 per cent. India's growth figures released at the end of November 2025 surprised experts as the GDP growth unexpectedly surged to 8.2 per cent in the July-September quarter, surpassing earlier estimates. Based on the high figures, the Reserve Bank of India revised its growth forecast for teh the current financial year to 7.3 per cent. Earlier this month, the Ministry of Statistics and Programme Implementation (MoSPI) released the first advance estimate of GDP growth for 2025-26, pegging it at 7.4%. This implies a slowdown in growth to 6.9% in the second half of the year, from 8% in the first half.

The multilateral agency estimated a sharp drop in India's GDP growth in FY 27 and FY 28 to moderate at 6.4 per cent. The country will retain its position as the world's fastest-growing major economy, outperforming global and advanced economy averages.

IMF raises India’s growth forecast to 7.3% in current fiscal; predicts sharp drop next year

India’s aviation regulator, the Directorate of Civil Aviation (DGCA), on Saturday, took action against IndiGo in connection with the large-scale flight disruptions in December 2025, when thousands of passengers were stranded across the country after flights were cancelled or diverted for an extended duration. After a detailed inquiry into the aviation crisis, the DGCA has imposed a hefty fine of Rs 22.20 crore on IndiGo. Besides, the body has asked the airline to pledge a bank guarantee of Rs 50 crore in favour of the DGCA to ensure compliance with the directives and long-term systemic correction.&nbsp;The large-scale flight delays and cancellations from 3rd to 5th December 2025, including the cancellation of 2,507 flights and 1,852 flights being delayed, led to inconvenience to over three lakh passengers.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/-never-seen-anyone-so-crazy-for-nobel-kailash-satyarthi-on-machado-handing-prize-to-trump-1768659496824">‘Never seen anyone so crazy for Nobel’: Kailash Satyarthi on Machado handing prize to Trump</a>&nbsp;On the directions of the Union Ministry of Civil Aviation (MoCA), the DGCA constituted a four-member committee for a comprehensive review and assessment of the circumstances leading to the disruptions.&nbsp;<h2>‘IndiGo management adopted over-optimised operational model’</h2>&nbsp;The committee concluded that the management of the airline had adopted an over-optimised operational model that was centred on maximum utilisation of crew, aircraft, and network resources, leaving nearly no margin to absorb disruptions. The key findings of the Inquiry Committee were that the primary causes for the disruption were over-optimisation of operations, inadequate regulatory preparedness, deficiencies in system software support, and shortcomings in management structure and operational control on the part of M/s IndiGo.&nbsp;Also Read: <a href="https://www.wionews.com/world/khamenei-calls-trump-a-criminal-blames-him-for-slander-casualties-and-damage-during-protest-1768653081527">Khamenei calls Trump a ‘criminal,’ blames him for slander, casualties and damage during protest</a>&nbsp;The committee also observed that the airline’s management failed to adequately identify planning deficiencies, maintain sufficient operational buffer, and effectively implement the revised Flight Duty Time Limitation (FDTL) provisions. These lapses resulted in widespread flight delays and large-scale cancellations.&nbsp;<h2>DGCA takes action against several officials</h2>&nbsp;After due deliberations, DGCA also took some enforcement actions, including action against officials of InterGlobe Aviation, and cautioned the CEO for inadequate overall oversight of flight operations and crisis management.It also issued a warning to the Accountable Manager (COO) for failure to assess the impact of Winter Schedule 2025 and the revised FDTL CAR that led to disruptions. A warning was also issued to the Senior Vice President (OCC) with directions to relieve him of current operational responsibilities and not to assign any accountable position.&nbsp;Also Read: <a href="https://www.wionews.com/world/iranian-hardline-cleric-calls-for-death-penalty-to-protesters-threatens-trump-1768584627521">Iranian hardline cleric calls for death penalty to protesters, threatens Trump</a>&nbsp;The DGCA also issued warnings to Deputy Head–Flight Operations, AVP–Crew Resource Planning, and Director–Flight Operations for lapses.IndiGo has also been directed to take appropriate action against any other personnel identified through its internal inquiry and submit a compliance report to DGCA.&nbsp;The total penalty of Rs 22.20 crore includes Rs 1.80 crore as one-time systemic penalties for violations under six provisions, with each violation attracting a fine of Rs 30 lakh, and Rs 20.40 crore as a continued non-compliance penalty, calculated at Rs 30 lakh per day for 68 days of non-compliance.&nbsp;InterGlobe Aviation Limited issued a statement, saying, “We are in receipt of the orders of the Directorate General of Civil Aviation of India in relation to the events which led to a major operational disruption of IndiGo’s flights in early December, 2025.”“We would like to take this opportunity to inform all of our stakeholders, particularly our valued customers, that the Board and the Management of IndiGo are commited to taking full cognizance of the orders and will, in a thoughtul and timely manner, take appropriate measures.”

The large-scale flight delays and cancellations from 3rd to 5th December 2025, including the cancellation of 2,507 flights and 1,852 flights being delayed, led to inconvenience to over three lakh passengers across the nation.

India’s aviation regulator, the Directorate of Civil Aviation (DGCA), on Saturday, took action against IndiGo in connection with the large-scale flight disruptions in December 2025, when thousands of passengers were stranded across the country after flights were cancelled or diverted for an extended duration. After a detailed inquiry into the aviation crisis, the DGCA has imposed a hefty fine of Rs 22.20 crore on IndiGo. Besides, the body has asked the airline to pledge a bank guarantee of Rs 50 crore in favour of the DGCA to ensure compliance with the directives and long-term systemic correction. The large-scale flight delays and cancellations from 3rd to 5th December 2025, including the cancellation of 2,507 flights and 1,852 flights being delayed, led to inconvenience to over three lakh passengers. Also Read: ‘Never seen anyone so crazy for Nobel’: Kailash Satyarthi on Machado handing prize to Trump On the directions of the Union Ministry of Civil Aviation (MoCA), the DGCA constituted a four-member committee for a comprehensive review and assessment of the circumstances leading to the disruptions. ‘IndiGo management adopted over-optimised operational model’ The committee concluded that the management of the airline had adopted an over-optimised operational model that was centred on maximum utilisation of crew, aircraft, and network resources, leaving nearly no margin to absorb disruptions. The key findings of the Inquiry Committee were that the primary causes for the disruption were over-optimisation of operations, inadequate regulatory preparedness, deficiencies in system software support, and shortcomings in management structure and operational control on the part of M/s IndiGo. Also Read: Khamenei calls Trump a ‘criminal,’ blames him for slander, casualties and damage during protest The committee also observed that the airline’s management failed to adequately identify planning deficiencies, maintain sufficient operational buffer, and effectively implement the revised Flight Duty Time Limitation (FDTL) provisions. These lapses resulted in widespread flight delays and large-scale cancellations. DGCA takes action against several officials After due deliberations, DGCA also took some enforcement actions, including action against officials of InterGlobe Aviation, and cautioned the CEO for inadequate overall oversight of flight operations and crisis management. It also issued a warning to the Accountable Manager (COO) for failure to assess the impact of Winter Schedule 2025 and the revised FDTL CAR that led to disruptions. A warning was also issued to the Senior Vice President (OCC) with directions to relieve him of current operational responsibilities and not to assign any accountable position. Also Read: Iranian hardline cleric calls for death penalty to protesters, threatens Trump The DGCA also issued warnings to Deputy Head–Flight Operations, AVP–Crew Resource Planning, and Director–Flight Operations for lapses. IndiGo has also been directed to take appropriate action against any other personnel identified through its internal inquiry and submit a compliance report to DGCA. The total penalty of Rs 22.20 crore includes Rs 1.80 crore as one-time systemic penalties for violations under six provisions, with each violation attracting a fine of Rs 30 lakh, and Rs 20.40 crore as a continued non-compliance penalty, calculated at Rs 30 lakh per day for 68 days of non-compliance. InterGlobe Aviation Limited issued a statement, saying, “We are in receipt of the orders of the Directorate General of Civil Aviation of India in relation to the events which led to a major operational disruption of IndiGo’s flights in early December, 2025.” “We would like to take this opportunity to inform all of our stakeholders, particularly our valued customers, that the Board and the Management of IndiGo are commited to taking full cognizance of the orders and will, in a thoughtul and timely manner, take appropriate measures.”

The large-scale flight delays and cancellations from 3rd to 5th December 2025, including the cancellation of 2,507 flights and 1,852 flights being delayed, led to inconvenience to over three lakh passengers across the nation.

DGCA levies Rs 22.20 crore fine on IndiGo for Dec 2025 flight disruptions

Even with external uncertainties lingering, the Indian economy is expected to record healthy growth of seven per cent in the upcoming financial year 2026-27, CareEdge Ratings has asserted. The growth momentum, according to the rating agency, will be supported by factors such as low inflation, lower interest rates, and a lower tax burden.&nbsp;"While India's merchandise exports have come under pressure amid tariff uncertainties, the healthy services exports are expected to remain supportive of the external position," it said. The Indian economy has demonstrated relative resilience in the current financial year 2025-26, with the GDP growth pegged at 7.4 per cent, as per the First Advance Estimate (FAE) by the government.&nbsp;The growth momentum has been supported by income tax cuts, GST rate rationalisation, continued momentum in services exports, easing inflationary pressures and RBI rate cuts, the rating agency added. "Overall, the domestic fundamentals remain largely resilient despite a turbulent global economic landscape," the CareEdge Ratings report read.&nbsp;For 2026-27, CareEdge projected real GDP growth at 7 per cent, with nominal GDP growth estimated at 10.1 per cent. India's macroeconomic outlook remains constructive heading into 2026-27. For 2025-26, the RBI has projected GDP growth at 7.3 per cent. Sachin Gupta, Chief Rating Officer and Executive Director, CareEdge, said, "As India steps into 2026, the macroeconomic picture appears, at first glance, remarkably encouraging."&nbsp;Gupta said inflation is largely under control, interest rates remain reasonable, and the banking sector is in its strongest shape in over a decade, supported by low non-performing assets and robust corporate credit quality. "Add to this a steadily declining fiscal deficit, a stabilising public debt profile, political continuity, and an increasing emphasis on structural reforms, and the narrative seems overwhelmingly positive," Gupta asserted. Yet beneath this optimistic surface lie emerging challenges that warrant closer attention. One concerning trend is the weakening of the Indian rupee, not only against the US dollar but also more sharply against other major currencies. Over the past year, the rupee has depreciated by over 15 per cent against the British pound and the euro. Foreign investment trends also paint a sobering picture, it added.&nbsp;According to CareEdge, foreign portfolio investors recorded net outflows of nearly USD 18 billion in 2025, while net FDI has fallen sharply over the past four years, from USD 44 billion in 2021-22 to barely USD 0.5 billion in 2024-25. These declines, however, signal more than a cyclical shift in sentiment, CareEdge added.&nbsp;India's ambition to become a "Viksit Bharat" hinges not only on strong domestic fundamentals but also on its ability to attract long-term investment and compete effectively in global markets. "While the growth story remains intact for now, the warning signs--weak capital inflows, currency pressures, and rising trade barriers--suggest that sustaining this momentum will require a careful recalibration of economic strategy."&nbsp;This year's Union Budget will be presented in the backdrop of healthy domestic growth and low inflation, even though on the external front, there continues to be a threat. Rajani Sinha, Chief Economist, CareEdge, suggested that the government must focus on R&amp;D and innovation, job creation, and concerted support to the agriculture sector. As has been the convention, the Union Budget for 2026-27 will be presented in the Parliament on February 1, 2026.&nbsp;Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for the WION audience.

The rating agency said that the growth momentum has been supported by income tax cuts, GST rate rationalisation, continued momentum in services exports, easing inflationary pressures and RBI rate cuts.

Even with external uncertainties lingering, the Indian economy is expected to record healthy growth of seven per cent in the upcoming financial year 2026-27, CareEdge Ratings has asserted. The growth momentum, according to the rating agency, will be supported by factors such as low inflation, lower interest rates, and a lower tax burden. "While India's merchandise exports have come under pressure amid tariff uncertainties, the healthy services exports are expected to remain supportive of the external position," it said. The Indian economy has demonstrated relative resilience in the current financial year 2025-26, with the GDP growth pegged at 7.4 per cent, as per the First Advance Estimate (FAE) by the government. The growth momentum has been supported by income tax cuts, GST rate rationalisation, continued momentum in services exports, easing inflationary pressures and RBI rate cuts, the rating agency added. "Overall, the domestic fundamentals remain largely resilient despite a turbulent global economic landscape," the CareEdge Ratings report read. For 2026-27, CareEdge projected real GDP growth at 7 per cent, with nominal GDP growth estimated at 10.1 per cent. India's macroeconomic outlook remains constructive heading into 2026-27. For 2025-26, the RBI has projected GDP growth at 7.3 per cent. Sachin Gupta, Chief Rating Officer and Executive Director, CareEdge, said, "As India steps into 2026, the macroeconomic picture appears, at first glance, remarkably encouraging." Gupta said inflation is largely under control, interest rates remain reasonable, and the banking sector is in its strongest shape in over a decade, supported by low non-performing assets and robust corporate credit quality. "Add to this a steadily declining fiscal deficit, a stabilising public debt profile, political continuity, and an increasing emphasis on structural reforms, and the narrative seems overwhelmingly positive," Gupta asserted. Yet beneath this optimistic surface lie emerging challenges that warrant closer attention. One concerning trend is the weakening of the Indian rupee, not only against the US dollar but also more sharply against other major currencies. Over the past year, the rupee has depreciated by over 15 per cent against the British pound and the euro. Foreign investment trends also paint a sobering picture, it added. According to CareEdge, foreign portfolio investors recorded net outflows of nearly USD 18 billion in 2025, while net FDI has fallen sharply over the past four years, from USD 44 billion in 2021-22 to barely USD 0.5 billion in 2024-25. These declines, however, signal more than a cyclical shift in sentiment, CareEdge added. India's ambition to become a "Viksit Bharat" hinges not only on strong domestic fundamentals but also on its ability to attract long-term investment and compete effectively in global markets. "While the growth story remains intact for now, the warning signs--weak capital inflows, currency pressures, and rising trade barriers--suggest that sustaining this momentum will require a careful recalibration of economic strategy." This year's Union Budget will be presented in the backdrop of healthy domestic growth and low inflation, even though on the external front, there continues to be a threat. Rajani Sinha, Chief Economist, CareEdge, suggested that the government must focus on R&D and innovation, job creation, and concerted support to the agriculture sector. As has been the convention, the Union Budget for 2026-27 will be presented in the Parliament on February 1, 2026. Disclaimer: This story has been published from a news agency feed with minimal edits to adhere to WION's style guide. The headline may have been changed to better reflect the content of the story or to make it more suitable for the WION audience.

The rating agency said that the growth momentum has been supported by income tax cuts, GST rate rationalisation, continued momentum in services exports, easing inflationary pressures and RBI rate cuts.

India’s economy to remain resilient with 7% growth in FY27 amid global uncertainties: Report