India's oil minister, Hardeep Singh Puri, has expressed concerns over the supply-side management by OPEC+ in recent months, suggesting that it could lead to demand destruction. In an interview given to Argus Media, Puri emphasises the need for OPEC+ producers to consider the consequences of their decisions, as high oil prices strain fragile economies.

Indian Oil Minister Hardeep Singh Puri on oil prices

Following a thrilling opening to the 50-over competition at the Narendra Modi Stadium in Ahmedabad between reigning champions England and New Zealand, Pakistan will now prepare to play the Netherlands, a team that advanced through the World Cup qualifying process. This will be Pakistan's first official T20 World Cup encounter played in India since the 2016 tournament and their first in the format in more than ten years.

ICC World Cup 2023: First game for Pakistan in India since 2016, take on Netherlands

The Ministry of External Affairs, on Thursday (Oct 5), addressed several issues including the security of Indian diplomats in the United Kingdom, the reduction in Canadian diplomats, and the shutdown of the Afghan embassy in India.

<h2>India demands parity in diplomatic presence with Canada</h2>

The Ministry of External Affairs, on Thursday (Oct 5), demanded 'parity' in diplomatic presence with Canada citing their continued "interference" in India's "internal matters".

During a press briefing, MEA spokesperson Arindam Bagchi said, "Given the much higher presence of diplomats or diplomatic presence here...and their continued interference in our internal matters, we have sought parity in our respective diplomatic presence. Discussions are ongoing on the modalities of achieving this".

"Given that Canadian diplomatic presence is higher, we would assume that there would be a reduction," he added.

Also read:&nbsp;<a href="https://www.wionews.com/world/watch-justin-trudeaus-unprofessional-behaviour-in-parliament-draws-widespread-criticism-online-642993">Trudeau's 'unprofessional' behaviour in Parliament draws widespread criticism</a>

"It's up to the Canadian side, who they choose to staff the High Commission with...our concerns are related to ensuring parity in diplomatic presence," Bagchi said on being asked if the reduction in the number of Canadian diplomats could see a decrease in the number of visas issued by the Canadian High Commission in India.

<h2>Security of Indian diplomats in UK</h2>

Bagchi said that India has been taking up concerns about the security of Indian diplomats and premises with the UK authorities.

"We have been taking up concerns about the security of our diplomats and our premises and other elements related to people there who are, wanted by our security or our judicial systems and we will continue to do that. And that's an ongoing conversation. I don't want to get into individual persons," he said.

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&nbsp;

"In the UK, there was a protest on 2nd October, and we certainly have taken up our concerns on the security of diplomats and premises there with the UK authorities. And this has been an ongoing thing. The issue is about security, about ensuring that our diplomats are able to function normally and our premises are safe and that the community is not targeted," he added.

<h2>'Will continue assisting people of Afghanistan,'&nbsp;says MEA on Afghan embassy shutdown</h2>

MEA said that India will continue taking steps to "assist the people of Afghanistan."

"We are also aware that there has been a prolonged absence of the ambassador and that a large number of Afghan diplomats have left India in the recent past. We would hope that a substantial number of Afghan nationals in India, including students, are able to continue to receive necessary consular support. On our part, we will continue with our efforts to assist the people of Afghanistan," said Bagchi.

"However, we received communication last week purportedly from the embassy, indicating that it intends to suspend operations at the end of September. Of course, such a decision is an internal matter of a foreign mission. However, we have noted that the Afghan consulates general in Mumbai and in Hyderabad voiced their objection to that decision or to such a decision," the MEA spokesperson added.

(With inputs from agencies) 
&nbsp;

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The Ministry of External Affairs, on Thursday (Oct 5), addressed several issues including the security of Indian diplomats in the United Kingdom, the reduction in Canadian diplomats, and the shutdown of the Afghan embassy in India.

The Ministry of External Affairs, on Thursday (Oct 5), addressed several issues including the security of Indian diplomats in the United Kingdom, the reduction in Canadian diplomats, and the shutdown of the Afghan embassy in India. India demands parity in diplomatic presence with Canada The Ministry of External Affairs, on Thursday (Oct 5), demanded 'parity' in diplomatic presence with Canada citing their continued "interference" in India's "internal matters". During a press briefing, MEA spokesperson Arindam Bagchi said, "Given the much higher presence of diplomats or diplomatic presence here...and their continued interference in our internal matters, we have sought parity in our respective diplomatic presence. Discussions are ongoing on the modalities of achieving this". "Given that Canadian diplomatic presence is higher, we would assume that there would be a reduction," he added. Also read: Trudeau's 'unprofessional' behaviour in Parliament draws widespread criticism "It's up to the Canadian side, who they choose to staff the High Commission with...our concerns are related to ensuring parity in diplomatic presence," Bagchi said on being asked if the reduction in the number of Canadian diplomats could see a decrease in the number of visas issued by the Canadian High Commission in India. Security of Indian diplomats in UK Bagchi said that India has been taking up concerns about the security of Indian diplomats and premises with the UK authorities. "We have been taking up concerns about the security of our diplomats and our premises and other elements related to people there who are, wanted by our security or our judicial systems and we will continue to do that. And that's an ongoing conversation. I don't want to get into individual persons," he said. #WATCH | MEA Spokesperson Arindam Bagchi says, "In the UK, there was a protest on 2nd October, and we certainly have taken up our concerns on the security of diplomats and premises there with the UK authorities. And this has been an ongoing thing. The issue is about security,… pic.twitter.com/TwMKozqcPi — ANI (@ANI) October 5, 2023 × "In the UK, there was a protest on 2nd October, and we certainly have taken up our concerns on the security of diplomats and premises there with the UK authorities. And this has been an ongoing thing. The issue is about security, about ensuring that our diplomats are able to function normally and our premises are safe and that the community is not targeted," he added. 'Will continue assisting people of Afghanistan,' says MEA on Afghan embassy shutdown MEA said that India will continue taking steps to "assist the people of Afghanistan." "We are also aware that there has been a prolonged absence of the ambassador and that a large number of Afghan diplomats have left India in the recent past. We would hope that a substantial number of Afghan nationals in India, including students, are able to continue to receive necessary consular support. On our part, we will continue with our efforts to assist the people of Afghanistan," said Bagchi. "However, we received communication last week purportedly from the embassy, indicating that it intends to suspend operations at the end of September. Of course, such a decision is an internal matter of a foreign mission. However, we have noted that the Afghan consulates general in Mumbai and in Hyderabad voiced their objection to that decision or to such a decision," the MEA spokesperson added. (With inputs from agencies) WATCH WION LIVE HERE You can now write for wionews.com and be a part of the community. Share your stories and opinions with us here.

MEA briefing: India reiterates demand for parity in diplomatic presence with Canada

The Reserve Bank of India (RBI) Governor Shaktikanta Das announced on Friday that the monetary policy committee (MPC) has opted to maintain the policy repo rate at 6.50 per cent, marking the fourth consecutive time the rate remains unchanged.

In his policy statement, The Indian Express quoted Das as saying, "After a detailed assessment of the evolving macroeconomic and financial developments and the outlook, RBI's Monetary Policy Committee decided unanimously to keep the Policy Repo Rate unchanged at 6.5 per cent."

He emphasised the importance of both macroeconomic stability and inclusive growth, asserting that the combination of policies implemented in recent years, despite facing numerous and unprecedented challenges, had contributed to the achievement of stability in both macroeconomics and finance.

Das noted that India has transitioned from the twin balance sheet stress of a decade ago to a twin balance sheet advantage, with both banks and corporate demonstrating healthier financial positions.

Reacting to the RBI's decision to continue with the rate pause, Adhil Shetty, CEO of Bankbazaar.com, said, "The Reserve Bank of India expectedly kept the policy rates paused in its monetary policy review for October.&nbsp;This is welcome, although inflation is expected to remain elevated for longer than anticipated."

According to Shetty, interest rates and inflation are moving in a positive direction with limited upward risks. Additionally, he noted that the central bank intends to maintain control over growth expectations through various monetary policy tools.

This decision comes as the RBI continues to grapple with keeping retail inflation within the target of 4 per cent. While India's retail inflation eased to 6.83 per cent in August, Das acknowledged that it remains above the upper limit of RBI's tolerance band, highlighting concerns about inflation.

While the RBI governor anticipates a potential easing of retail inflation in September, the decline in kharif sowing poses a potential threat. The RBI has maintained its CPI-based inflation forecast for FY24 at 5.4 per cent.

In terms of GDP, the RBI has retained its forecast, expecting real gross domestic product (GDP) to grow at 6.5 per cent for the fiscal year 2023-24 (FY24).

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The Reserve Bank of India (RBI) Governor Shaktikanta Das announced on Friday that the monetary policy committee (MPC) has opted to maintain the policy repo rate at 6.

The Reserve Bank of India (RBI) Governor Shaktikanta Das announced on Friday that the monetary policy committee (MPC) has opted to maintain the policy repo rate at 6.50 per cent, marking the fourth consecutive time the rate remains unchanged. In his policy statement, The Indian Express quoted Das as saying, "After a detailed assessment of the evolving macroeconomic and financial developments and the outlook, RBI's Monetary Policy Committee decided unanimously to keep the Policy Repo Rate unchanged at 6.5 per cent." He emphasised the importance of both macroeconomic stability and inclusive growth, asserting that the combination of policies implemented in recent years, despite facing numerous and unprecedented challenges, had contributed to the achievement of stability in both macroeconomics and finance. Das noted that India has transitioned from the twin balance sheet stress of a decade ago to a twin balance sheet advantage, with both banks and corporate demonstrating healthier financial positions. Reacting to the RBI's decision to continue with the rate pause, Adhil Shetty, CEO of Bankbazaar.com, said, "The Reserve Bank of India expectedly kept the policy rates paused in its monetary policy review for October. This is welcome, although inflation is expected to remain elevated for longer than anticipated." According to Shetty, interest rates and inflation are moving in a positive direction with limited upward risks. Additionally, he noted that the central bank intends to maintain control over growth expectations through various monetary policy tools. This decision comes as the RBI continues to grapple with keeping retail inflation within the target of 4 per cent. While India's retail inflation eased to 6.83 per cent in August, Das acknowledged that it remains above the upper limit of RBI's tolerance band, highlighting concerns about inflation. While the RBI governor anticipates a potential easing of retail inflation in September, the decline in kharif sowing poses a potential threat. The RBI has maintained its CPI-based inflation forecast for FY24 at 5.4 per cent. In terms of GDP, the RBI has retained its forecast, expecting real gross domestic product (GDP) to grow at 6.5 per cent for the fiscal year 2023-24 (FY24). WATCH WION LIVE HERE

RBI holds repo rate steady at 6.5 per cent for the fourth time, inflation remains a concern

Indian tech giants TCS, Infosys, and HCL are all set to announce their July to September quarter results next week. JPMorgan analysts expect investors to parse upcoming results & commentary from these companies for signs of recovery in deal signings next year after a "Washout" year.

‘Washout’ year for Indian tech firms?

India calls for balance in oil supply

Will the fight with India cost Canadian Prime Minister Justin Trudeau his political career? Viral video shows Trudeau being humiliated by a voter who alleged that the PM has ruined Canada. Canadian universities are nervous about losing Indian students. Will angry voters forgive Trudeau?

Gravitas: Canada's Justin Trudeau to lose his job over fight with India?

Fans to flood the city of Ahmedabad for the India vs Pakistan match on October 14. Experts say the tournament could cause inflation to rise. India will host the ICC World Cup for the first time since 2011.

Gravitas | ICC World Cup 2023: India-Pak match to steal the show

Russian President Vladimir Putin has praised Indian Prime Minister Modi's leadership and lauded India for 'acting independently in the interests of its nation'. Putin slammed the West for 'attempting to turn India away from Russia'. The Russian President's comments come amidst India's diplomatic rift with Canada.

India Vs Canada: Putin backs 'powerful' India, praises PM Modi's strong leadership

Flash floods are wreaking havoc in India's Sikkim State. According to the latest reports, thousands of tourists stranded in Sikkim have been declared safe now and the Army and local administrations are providing assistance to restore Road connectivity as well. Evacuations and rescue operations are expected to start today.

Sikkim flash floods: Thousands are stranded, officials declare tourists safe

The India-Canada diplomatic row continues to worsen and there are media reports that state that Canada has actually evacuated its diplomatic staff from its High Commission in India.

India to raise issues with Canada at the P20 Summit next week

Leading Indian tech firms are preparing for a tough year ahead as they look to bounce back in the next financial year after what JPMorgan analysts have referred to as a "washout" year.

The financial giant's analysts anticipate investors to closely examine the upcoming second-quarter results and comments from Indian tech companies for signs of a recovery in deal signings.

However, analysts Ankur Rudra and Bhavik Mehta have expressed their reservations, “We remain negative on the sector as we haven't seen a meaningful uptick in demand in our recent checks. We think the overall setup is not as positive as last quarter," Reuters quoted them as saying.

The Indian tech sector has been grappling with challenges as clients, primarily based in the United States, have reduced tech spending, delayed projects, and even cancelled contracts, citing concerns over slower economic growth and potential long-term interest rate hikes.

"Investors have assumed FY24 is a washout and shifted focus to FY25, hoping for a rebound," Reuters quoted the analysts as saying. They noted that this shift in focus has contributed to the Nifty IT index outperforming the broader Nifty 50 over the past three months.

In the upcoming quarterly earnings reports, the key areas of interest will be deal signings and the distinction between new deals and renewals. This analysis will help assess the potential for growth in fiscal 2025.

However, despite this anticipation, Rudra and Mehta have argued that their recent discussions with industry executives did not reveal "any meaningful optimism of a demand rebound."&nbsp;

"There are green shoots in certain paths, but overall decision-making and deal ramp-ups remain sluggish," both analysts noted.&nbsp;

JPMorgan's outlook for large-cap tech companies in fiscal 2025 suggests high single-digit earnings growth, which is lower than market expectations of double-digit growth. Similarly, mid-cap companies are expected to see low double-digit growth, compared to market expectations of mid-teens growth.

&nbsp;(With inputs from Reuters)

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Leading Indian tech firms are preparing for a tough year ahead as they look to bounce back in the next financial year after what JPMorgan analysts have referred to as a "washout" year.

Leading Indian tech firms are preparing for a tough year ahead as they look to bounce back in the next financial year after what JPMorgan analysts have referred to as a "washout" year. The financial giant's analysts anticipate investors to closely examine the upcoming second-quarter results and comments from Indian tech companies for signs of a recovery in deal signings. However, analysts Ankur Rudra and Bhavik Mehta have expressed their reservations, “We remain negative on the sector as we haven't seen a meaningful uptick in demand in our recent checks. We think the overall setup is not as positive as last quarter," Reuters quoted them as saying. The Indian tech sector has been grappling with challenges as clients, primarily based in the United States, have reduced tech spending, delayed projects, and even cancelled contracts, citing concerns over slower economic growth and potential long-term interest rate hikes. "Investors have assumed FY24 is a washout and shifted focus to FY25, hoping for a rebound," Reuters quoted the analysts as saying. They noted that this shift in focus has contributed to the Nifty IT index outperforming the broader Nifty 50 over the past three months. In the upcoming quarterly earnings reports, the key areas of interest will be deal signings and the distinction between new deals and renewals. This analysis will help assess the potential for growth in fiscal 2025. However, despite this anticipation, Rudra and Mehta have argued that their recent discussions with industry executives did not reveal "any meaningful optimism of a demand rebound." "There are green shoots in certain paths, but overall decision-making and deal ramp-ups remain sluggish," both analysts noted. JPMorgan's outlook for large-cap tech companies in fiscal 2025 suggests high single-digit earnings growth, which is lower than market expectations of double-digit growth. Similarly, mid-cap companies are expected to see low double-digit growth, compared to market expectations of mid-teens growth. (With inputs from Reuters) WATCH WION LIVE HERE

Here is JPMorgan's outlook for Indian tech firms

India's impressive performance at the Hangzhou Asian Games highlights its growing prominence in sports. Across various disciplines like shooting, compound archery, and athletics, India has excelled and shattered previous records. Remarkably, India is on the verge of reaching 100 medals, a significant leap from their previous best of 70 medals in the history of the Asian Games.

Asian Games 2023: India shines with 95 medals, surpasses its previous record of 70 medals in 2018

The United Auto Workers strike against the Detroit Three automakers and is now in its third week. Watch this story to know how it is related to the economic crisis.

Last-minute deal to avert shutdown raises economic crisis

There are challenges in the world economy. There was a long period where the countries especially the US and other countries in the West kept their interest rates really down which led to debt building up. Watch this to know more.

US auto strike adds to economic challenges

At least 7 people were killed and over 40 injured in a blaze at a seven-story building in the Indian city of Mumbai. The blaze was reported at 3 am on at the Jai Bhavani building near Azad Maidan in Goregaon west area of India's financial capital. The fire department tagged the incident as a level-2 fire. Many vehicles were burnt to ashes. The injured have been admitted to two hospitals in the city. Mumbai fires have long raised questions about fire safety in India. Thousands of older buildings in India’s key financial hub are in disrepair, and experts say safety standards are not being universally enforced.

Building blaze in India's financial capital: 7 dead, over 40 injured | Many vehicles burnt to ashes

A power shift in the Maldives with pro-China Mohamed Muizzu taking over as President means a massive shift in the Maldives-India relationship. Muizzu has already said he would adopt a pro-China stance and work to evict what he called 'foreign troops' from the Maldives. India watches with concern as Chinese influence rises in the Indian Ocean Region - in Sri Lanka, Nepal and now the Maldives.

China in, 'India out' in Maldives?

4 Indian states - Madhya Pradesh, Chhattisgarh, Rajasthan and Mizoram - go to polls by the end of 2023. Besides Telangana, these will be the last round of state polls before the national elections in the middle of 2024. That makes them a big litmus test for the parties going to the hustings. The states going to elections cover 66 parliamentary seats.

Election season heats up in India

On Inside South Asia with Dasuni Athauda: -Maldives to tilt towards China? -Election season heats up in India -Pakistan warns illegal afghan migrants -Nepal's Indra Jatra festival

Maldives to tilt towards China? Election season heats up in India

Sikkim Flash Floods: NDRF says rescue operations to start today

Sikkim flash floods leave trail of destruction flash flood is wreaking havoc in India’s Sikkim state. According to the latest reports, thousands of tourists stranded in Sikkim have been declared safe. Army and local administration are providing assistance to restore road connectivity. Evacuations and rescue operations are expected to start today.

Sikkim flash floods: At least 22 killed including 7 Army personnel; 2,000 evacuated so far

An anti-terror conference is being held in India. Union Home Minister Amit Shah inaugurated a two-day anti-terror conference. The conference is organised by the National Investigation Agency in Delhi.

What is Amit Shah's 'ruthless approach' to 'destroy terrorism & its entire ecosystem'?

1992 World Champions Pakistan begin their World Cup Campaign against Netherlands. Toss details, Playing XIs and a detailed preview to the game in Hyderabad with 1996 World Cup-winning coach Dav Whatmore. Write in to us and tell us what your Playing XI will be and also ask questions to Dav live. Use the hashtag #AskDav and #WIONCricket on social media.

ODI World Cup: First game for Pakistan in India since 2016

Russian president Vladimir Putin praises India prime minister Narendra Modi while speaking at the Valdai discussion club in Sochi. Putin refers prime minister Modi as 'a very wise man' and said that India had made great strides under his leadership.

Russian president Vladimir Putin voices support for Bangladesh

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