Indian stocks extend record high surge further on Wednesday. India's Sensex Index soared to over 71,800. Consumer & tech stocks propel benchmarks to record highs.

Indian stocks surge to a new high | World News | WION

In the backdrop of mass suspensions of MPs from the Parliament for the second consecutive day on Tuesday, 19 December, parties of the Indian National Developmental Inclusive Alliance (INDIA) bloc met in New Delhi where strategies for seat sharing for the 2024 Lok sabha elections and probable names for the PM face were discussed.

4th I.N.D.I.A alliance meet concludes in New Delhi

In the backdrop of mass suspensions of MPs from the Parliament for the second consecutive day on Tuesday, 19 December, parties of the Indian National Developmental Inclusive Alliance (INDIA) bloc met in New Delhi where strategies for seat sharing for the 2024 Lok sabha elections and probable names for the PM face were discussed

I.N.D.I.A alliance to stage nation-wide protests on Dec 22

Some 800 train passengers have been stranded in the state's Thoothukudi district. Villages, towns, highways and railroads in several regions of southern Tamil Nadu now resemble rivers.

India: Rescue operation underway in Tamil Nadu, IAF air-drops relief material

India is poised to be the top recipient of remittances globally in 2023, with an anticipated surge of over 11 per cent, reaching $125 billion, according to the World Bank's latest Migration and Development Brief reported by Moneycontrol. <o:p></o:p>

This growth solidifies India's position ahead of countries like Mexico ($67 billion) and China ($50 billion). The report underscored the importance of remittances to India's economy, helping offset the impact of declining foreign direct investment and higher trade deficits.<o:p></o:p>

The World Bank highlighted a global growth of approximately 3.8 per cent in remittances to low- and middle-income countries (LMICs) in 2023, totalling $669 billion. Resilient labour markets in advanced economies and Gulf Cooperation Council (GCC) countries contribute to migrants' ability to send money home.<o:p></o:p>

However, the World Bank expressed concern about the risk of a decline in real income for migrants in 2024, given the backdrop of global inflation and low growth prospects.<o:p></o:p>

Remittances to South Asia, estimated to grow by 7.2 per cent in 2023, reaching $189 billion, are primarily driven by remittances to India. The US remains the largest source of remittances globally, with Saudi Arabia ranking second. Factors contributing to India's robust remittance growth include declining inflation and strong labour markets in high-income source countries, particularly the US, UK, and Singapore.<o:p></o:p>

The regional breakdown reveals varied trends, with remittances growing for Latin America and the Caribbean (8 per cent), East Asia and the Pacific (3 per cent), and Sub-Saharan Africa (1.9 per cent). However, flows to the Middle East and North Africa experienced a 5.3 per cent decline for the second consecutive year, primarily attributed to a sharp drop in flows to Egypt. Remittances to Europe and Central Asia also saw a dip of 1.4 per cent after substantial gains in 2022.<o:p></o:p>

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India is poised to be the top recipient of remittances globally in 2023, with an anticipated surge of over 11 per cent, reaching $125 billion, according to the World Bank's latest Migration and Development Brief reported by Moneycontrol.

India is poised to be the top recipient of remittances globally in 2023, with an anticipated surge of over 11 per cent, reaching $125 billion, according to the World Bank's latest Migration and Development Brief reported by Moneycontrol. This growth solidifies India's position ahead of countries like Mexico ($67 billion) and China ($50 billion). The report underscored the importance of remittances to India's economy, helping offset the impact of declining foreign direct investment and higher trade deficits. The World Bank highlighted a global growth of approximately 3.8 per cent in remittances to low- and middle-income countries (LMICs) in 2023, totalling $669 billion. Resilient labour markets in advanced economies and Gulf Cooperation Council (GCC) countries contribute to migrants' ability to send money home. However, the World Bank expressed concern about the risk of a decline in real income for migrants in 2024, given the backdrop of global inflation and low growth prospects. Remittances to South Asia, estimated to grow by 7.2 per cent in 2023, reaching $189 billion, are primarily driven by remittances to India. The US remains the largest source of remittances globally, with Saudi Arabia ranking second. Factors contributing to India's robust remittance growth include declining inflation and strong labour markets in high-income source countries, particularly the US, UK, and Singapore. The regional breakdown reveals varied trends, with remittances growing for Latin America and the Caribbean (8 per cent), East Asia and the Pacific (3 per cent), and Sub-Saharan Africa (1.9 per cent). However, flows to the Middle East and North Africa experienced a 5.3 per cent decline for the second consecutive year, primarily attributed to a sharp drop in flows to Egypt. Remittances to Europe and Central Asia also saw a dip of 1.4 per cent after substantial gains in 2022. WATCH WION LIVE HERE

India leads global remittance surge with projected 23pc increase to $125 bn in 2023

Indian authorities on Monday (Dec 18) issued an advisory to the states to stay alert amid an alarming rise of coronavirus (COVID-19) cases across the nation.&nbsp;

The Union Health Ministry data on Monday revealed that India recorded 260 new Covid infections in the last 24 hours.&nbsp;

Centre has urged all states to maintain a state of constant vigil over the current Covid situation, which has started causing panic among people.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/india-news/india-asi-submits-sealed-cover-report-on-scientific-survey-of-gyanvapi-mosque-670926">ASI submits sealed cover report on scientific survey of ‘disputed’ Gyanvapi Mosque</a>&nbsp;

The authorities have asked the states to report and monitor district-wise Influenza-like Illness (ILI) and severe Acute Respiratory Illness (SARI) cases on a regular basis.&nbsp;

States have also been advised to ensure adequate testing including a higher number of RT-PCR tests and send positive samples for genome sequencing to INSACOG laboratories.&nbsp;

The advisory mentioned that the states were advised to put in place requisite public health measures and other arrangements to minimise the risk of Covid.&nbsp;

It also asked the states to ensure effective compliance with the detailed operational guidelines for the revised surveillance strategy for Covid as shared by the Union Ministry of Health and Family Welfare.&nbsp;

Also read:&nbsp;<a href="https://www.wionews.com/india-news/indian-pm-modi-inaugurates-worlds-largest-meditation-centre-swarved-mahamandir-in-varanasi-670897">PM Modi inaugurates world’s largest meditation centre ‘Swarved Mahamandir’ in India’s Varanasi</a>&nbsp;

Watch: India on alert, Govt issues advisory as Kerala detects new Covid variant&nbsp;

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<h2>JN.1 variant&nbsp;</h2>

The advisory comes just a few days after the first case of the new JN.1 variant was detected in India. The variant was reported in the southern state of Kerala while the authorities were conducting routine surveillance as part of the Indian SARS-CoV-2 Genomics Consortium (INSACOG).&nbsp;

Dr Rajiv Bahl, Director General of the ICMR, said that the case was detected on December 8 in an RT-PCR positive sample from Karakulam in Thiruvananthapuram district.&nbsp;

According to the doctor, the 79-year-old patient had mild Influenza-like symptoms and she is better now.&nbsp;

(With inputs from agencies)&nbsp;

Indian authorities on Monday (Dec 18) issued an advisory to the states to stay alert amid an alarming rise of coronavirus (COVID-19) cases across the nation. The Union Health Ministry data on Monday revealed that India recorded 260 new Covid infections in the last 24 hours.

Indian authorities on Monday (Dec 18) issued an advisory to the states to stay alert amid an alarming rise of coronavirus (COVID-19) cases across the nation. The Union Health Ministry data on Monday revealed that India recorded 260 new Covid infections in the last 24 hours. Centre has urged all states to maintain a state of constant vigil over the current Covid situation, which has started causing panic among people. Also read: ASI submits sealed cover report on scientific survey of ‘disputed’ Gyanvapi Mosque The authorities have asked the states to report and monitor district-wise Influenza-like Illness (ILI) and severe Acute Respiratory Illness (SARI) cases on a regular basis. States have also been advised to ensure adequate testing including a higher number of RT-PCR tests and send positive samples for genome sequencing to INSACOG laboratories. The advisory mentioned that the states were advised to put in place requisite public health measures and other arrangements to minimise the risk of Covid. It also asked the states to ensure effective compliance with the detailed operational guidelines for the revised surveillance strategy for Covid as shared by the Union Ministry of Health and Family Welfare. Also read: PM Modi inaugurates world’s largest meditation centre ‘Swarved Mahamandir’ in India’s Varanasi Watch: India on alert, Govt issues advisory as Kerala detects new Covid variant × JN.1 variant The advisory comes just a few days after the first case of the new JN.1 variant was detected in India. The variant was reported in the southern state of Kerala while the authorities were conducting routine surveillance as part of the Indian SARS-CoV-2 Genomics Consortium (INSACOG). Dr Rajiv Bahl, Director General of the ICMR, said that the case was detected on December 8 in an RT-PCR positive sample from Karakulam in Thiruvananthapuram district. According to the doctor, the 79-year-old patient had mild Influenza-like symptoms and she is better now. (With inputs from agencies)

India: Advisory issued to states amid recent upsurge in COVID-19 cases, new variant concerns

With extremely heavy rainfall having pounded the southernmost region of Tamil Nadu, southern India, a flood-like situation prevails particularly in the Tirunelveli(Nellai) and Thoothukudi(Tuticorin) districts. The Indian Navy, Air Force, Coast Gurd and National Disaster Response Force have been pressed into action for carrying out the rescue and relief operations. The aforementioned Forces are providing aid to civil authority(as per the request of Tamil Nadu Government), by carrying out Humanitarian Assistance and Disaster Relief(HADR) operations.&nbsp;

The extreme weather in the region is owing to a cyclonic circulation in the southeast Bay of Bengal, in the areas of Sri Lanka and the southern districts of Tamil Nadu. On Sunday and Monday, these regions were at the receiving end of unprecedented amounts of rainfall, leading to a flood-like situation.&nbsp;

According to private weather blogger Tamil Nadu Weatherman, Kayalpattinam in Thoothukudi has recorded 932mm rainfall in 24hours. It is mentioned that the district received entire annual rainfall in a single day. "This is the highest ever rainfall recorded in plains ever in Tamil Nadu in 24hours and the second highest rainfall after the Kakkachi(Manjolai) 965mm recorded in 1992," said the X post of Tamil Nadu Weatherman.  

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Daring airlift ops by <a href="https://twitter.com/hashtag/IndianNavy?src=hash&amp;ref_src=twsrc%5Etfw">#IndianNavy</a> ALH Mk3 helicopter, amid floods in South <a href="https://twitter.com/hashtag/TamilNadu?src=hash&amp;ref_src=twsrc%5Etfw">#TamilNadu</a> <a href="https://twitter.com/hashtag/TamilNaduRains?src=hash&amp;ref_src=twsrc%5Etfw">#TamilNaduRains</a> <a href="https://twitter.com/hashtag/Nellai?src=hash&amp;ref_src=twsrc%5Etfw">#Nellai</a> <a href="https://twitter.com/hashtag/NellaiRains?src=hash&amp;ref_src=twsrc%5Etfw">#NellaiRains</a> <a href="https://twitter.com/hashtag/NellaiFloods?src=hash&amp;ref_src=twsrc%5Etfw">#NellaiFloods</a> 
 
3 pregnant women are among the 42 rescued by <a href="https://twitter.com/indiannavy?ref_src=twsrc%5Etfw">@indiannavy</a> 
 
Ground and air teams are supporting <a href="https://twitter.com/hashtag/TNGovt?src=hash&amp;ref_src=twsrc%5Etfw">#TNGovt</a> flood relief &amp; rescue efforts.. <a href="https://t.co/UngwGf1XtR">pic.twitter.com/UngwGf1XtR</a>
— Sidharth.M.P (@sdhrthmp) <a href="https://twitter.com/sdhrthmp/status/1736751540554309953?ref_src=twsrc%5Etfw">December 18, 2023</a></blockquote>
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<a href="https://www.wionews.com/india-news/india-advisory-issued-to-states-amid-recent-upsurge-in-covid-19-cases-and-new-variant-concern-671029">Also read |&nbsp;India: Advisory issued to States amid recent upsurge in COVID-19 cases and new variant concern</a>

Indian Coast Guard alone has deployed six Disaster Relief teams in Thoothukudi and Tirunelveli, in addition to an Offshore Patrol Vessel with an on-board helicopter that are monitoring the situation at sea and shore locations. As the airport in the district has been closed, the ICG is positioning its Dornier Aircraft and an ALH Mk3 helicopter at the nearest airport in Madurai, in order to support rescue and relief efforts and transportation of NDRF personnel from Chennai. The ICG has also sent a rescue diver team with paddle boats, kayaks with an additional Disaster relief team to Thoothukudi.&nbsp;

The National Disaster Response Force(NDRF) has deployed 10 teams (of 25 members each) across the two affected districts. The teams have been moved from the NDRF 04 Battalion at Arakkonam, near Chennai. The Indian Air Force Southern Air Command has tasked the MI-17V5 helicopters from the Sulur Air Force Station in Western Tamil Nadu, to carry out the relief operations.

Also watch |&nbsp;India: 78 MPs suspended from Indian parliament for unruly behaviour

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Indian Navy has deployed both ground and aerial rescue teams to aid the flood relief operations by the local administration. The Navy has rescued 42 personnel and it included three pregnant women. The Indian Army has rescued more than 130 persons, including pregnant women and infants. The rescue efforts by the Forces and the civil administration are expected to continue on Tuesday as well.&nbsp;

With extremely heavy rainfall having pounded the southernmost region of Tamil Nadu, southern India, a flood-like situation prevails particularly in the Tirunelveli(Nellai) and Thoothukudi(Tuticorin) districts.

With extremely heavy rainfall having pounded the southernmost region of Tamil Nadu, southern India, a flood-like situation prevails particularly in the Tirunelveli(Nellai) and Thoothukudi(Tuticorin) districts. The Indian Navy, Air Force, Coast Gurd and National Disaster Response Force have been pressed into action for carrying out the rescue and relief operations. The aforementioned Forces are providing aid to civil authority(as per the request of Tamil Nadu Government), by carrying out Humanitarian Assistance and Disaster Relief(HADR) operations. The extreme weather in the region is owing to a cyclonic circulation in the southeast Bay of Bengal, in the areas of Sri Lanka and the southern districts of Tamil Nadu. On Sunday and Monday, these regions were at the receiving end of unprecedented amounts of rainfall, leading to a flood-like situation. According to private weather blogger Tamil Nadu Weatherman, Kayalpattinam in Thoothukudi has recorded 932mm rainfall in 24hours. It is mentioned that the district received entire annual rainfall in a single day. "This is the highest ever rainfall recorded in plains ever in Tamil Nadu in 24hours and the second highest rainfall after the Kakkachi(Manjolai) 965mm recorded in 1992," said the X post of Tamil Nadu Weatherman.   Daring airlift ops by #IndianNavy ALH Mk3 helicopter, amid floods in South #TamilNadu #TamilNaduRains #Nellai #NellaiRains #NellaiFloods 3 pregnant women are among the 42 rescued by @indiannavy Ground and air teams are supporting #TNGovt flood relief & rescue efforts.. pic.twitter.com/UngwGf1XtR — Sidharth.M.P (@sdhrthmp) December 18, 2023 × Also read | India: Advisory issued to States amid recent upsurge in COVID-19 cases and new variant concern Indian Coast Guard alone has deployed six Disaster Relief teams in Thoothukudi and Tirunelveli, in addition to an Offshore Patrol Vessel with an on-board helicopter that are monitoring the situation at sea and shore locations. As the airport in the district has been closed, the ICG is positioning its Dornier Aircraft and an ALH Mk3 helicopter at the nearest airport in Madurai, in order to support rescue and relief efforts and transportation of NDRF personnel from Chennai. The ICG has also sent a rescue diver team with paddle boats, kayaks with an additional Disaster relief team to Thoothukudi. The National Disaster Response Force(NDRF) has deployed 10 teams (of 25 members each) across the two affected districts. The teams have been moved from the NDRF 04 Battalion at Arakkonam, near Chennai. The Indian Air Force Southern Air Command has tasked the MI-17V5 helicopters from the Sulur Air Force Station in Western Tamil Nadu, to carry out the relief operations. Also watch | India: 78 MPs suspended from Indian parliament for unruly behaviour Indian Navy has deployed both ground and aerial rescue teams to aid the flood relief operations by the local administration. The Navy has rescued 42 personnel and it included three pregnant women. The Indian Army has rescued more than 130 persons, including pregnant women and infants. The rescue efforts by the Forces and the civil administration are expected to continue on Tuesday as well.

South Tamil Nadu floods: Army, Navy, Air Force, Coast Guard, NDRF pressed into action

I.N.D.I.A opposition grand alliance might have hinted at a possible Prime Minister face who will take on incumbent leader Narendra Modi. The revelation came after alliance met in a meeting.

I.N.D.I.A Election: Who is the opposition's face?

Is India's growth story not sitting well with the International Monetary Fund? The IMF has reclassified India's foreign exchange regime as 'stabilized arrangement' from 'floating system', after accusing the RBI of excessive interference. Was the IMF assessment in bad taste?

Gravitas: Is India's growth story not sitting well with IMF?

Chaos and uproar continue in India's Parliament as a record number of MPs have now been suspended from the house. The tally now stands at 141.

India: 141 MPs get suspended for disrupting proceedings of Parliament

A Korean vlogger was groped on camera by a stranger in a shocking incident. This isn't the first time tourists have been harassed on Indian streets. Priyanka Sharma tells you more.

Gravitas: Man gropes vlogger on camera

The International Monetary Fund (IMF) has lauded India's stellar economic performance, projecting the nation to contribute more than 16 per cent to global growth, thanks to robust growth fuelled by key reforms in digitisation and infrastructure. <o:p></o:p>

Nada Choueiri, the Mission of India at IMF, highlighted India's progress in an exclusive interview with PTI. She emphasised that India stands out among its peer countries as one of the fastest-growing large emerging markets, stating, "It's one of the fastest-growing large emerging markets and it's contributing, in our current projections, more than 16 per cent of global growth this year."<o:p></o:p>

The IMF's annual Article IV consultation with India, released on Monday, affirms the country's trajectory as one of the fastest-growing major economies globally. Despite facing global headwinds, including a slowdown in a fragmented world, India's prudent macroeconomic policies continue to drive its economic momentum.<o:p></o:p>

Choueiri underscored the government's commitment to infrastructure development, citing it as a crucial foundation for sustained growth. She noted India's sizable, young, and growing population, emphasising the potential for even stronger growth if harnessed through strategic structural reforms.<o:p></o:p>

Digitalisation stands out as a flagship reform, building a strong platform for increased productivity and future growth. The IMF's annual report recommends focusing on policy priorities such as replenishing fiscal buffers, ensuring price stability, maintaining financial stability, and fostering inclusive growth through comprehensive structural reforms while preserving debt sustainability.<o:p></o:p>

India's rebound from the pandemic has positioned it as a vital driver of global growth. Headline inflation, after a surge in FY2022-23, has moderated, and employment has surpassed pre-pandemic levels. The informal sector dominates, but formalisation is progressing, reflecting a resilient financial sector largely unaffected by global financial stress.<o:p></o:p>

The report also highlights India's hosting of the G20 presidency in 2023, showcasing the nation's role in advancing multilateral policy priorities on the global stage. According to the report, "Globally, India's 2023 G20 presidency has demonstrated the country's important role in advancing multilateral policy priorities."<o:p></o:p>

As the country prepares for general elections in April 2024, the IMF report notes that India has the potential for higher growth with additional labour and human capital, provided comprehensive reforms are implemented.<o:p></o:p>

Choueiri stressed the importance of political stability for investment and growth, citing research that underscores the need for a transparent and stable policy environment. The government's efforts to encourage the business environment, including the single national window, have been acknowledged, but there is still work to be done to streamline bureaucracy in some states. S<o:p></o:p>

he remarked, "It's a glass half full, they're still important procedures that are needed to simplify further. But there are important steps that were taken. For example, the single national window, the one-stop shop for companies is a very important one. But still, in many states, there's a lot of bureaucracy that needs to be tackled and streamlined and a lot of red tape. So this is also a work in progress that needs to be continued."<o:p></o:p>

The IMF advocates for labour reform in India, pointing out the abundance of untapped labour potential that needs concerted efforts in education, skilling, and increasing female labour force participation. Choueiri expressed the view, "India has in abundance labour. And Labour is not used to its potential in India. And so, in our view, there has to be a very concerted effort to make sure that the advantages and demographics in India are played up to the maximum.”<o:p></o:p>

Addressing risks, Choueiri mentioned the tricky external environment and the potential medium-term risks from climate change. She emphasized the need for proper management of these risks to ensure India's continued success. She cautioned that India was performing well and had tremendous potential, adding that several important policies needed to be addressed to harness that potential.<o:p></o:p>

(With inputs from PTI)<o:p></o:p>

WATCH WION LIVE HERE

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The International Monetary Fund (IMF) has lauded India's stellar economic performance, projecting the nation to contribute more than 16 per cent to global growth, thanks to robust growth fuelled by key reforms in digitisation and infrastructure.

The International Monetary Fund (IMF) has lauded India's stellar economic performance, projecting the nation to contribute more than 16 per cent to global growth, thanks to robust growth fuelled by key reforms in digitisation and infrastructure. Nada Choueiri, the Mission of India at IMF, highlighted India's progress in an exclusive interview with PTI. She emphasised that India stands out among its peer countries as one of the fastest-growing large emerging markets, stating, "It's one of the fastest-growing large emerging markets and it's contributing, in our current projections, more than 16 per cent of global growth this year." The IMF's annual Article IV consultation with India, released on Monday, affirms the country's trajectory as one of the fastest-growing major economies globally. Despite facing global headwinds, including a slowdown in a fragmented world, India's prudent macroeconomic policies continue to drive its economic momentum. Choueiri underscored the government's commitment to infrastructure development, citing it as a crucial foundation for sustained growth. She noted India's sizable, young, and growing population, emphasising the potential for even stronger growth if harnessed through strategic structural reforms. Digitalisation stands out as a flagship reform, building a strong platform for increased productivity and future growth. The IMF's annual report recommends focusing on policy priorities such as replenishing fiscal buffers, ensuring price stability, maintaining financial stability, and fostering inclusive growth through comprehensive structural reforms while preserving debt sustainability. India's rebound from the pandemic has positioned it as a vital driver of global growth. Headline inflation, after a surge in FY2022-23, has moderated, and employment has surpassed pre-pandemic levels. The informal sector dominates, but formalisation is progressing, reflecting a resilient financial sector largely unaffected by global financial stress. The report also highlights India's hosting of the G20 presidency in 2023, showcasing the nation's role in advancing multilateral policy priorities on the global stage. According to the report, "Globally, India's 2023 G20 presidency has demonstrated the country's important role in advancing multilateral policy priorities." As the country prepares for general elections in April 2024, the IMF report notes that India has the potential for higher growth with additional labour and human capital, provided comprehensive reforms are implemented. Choueiri stressed the importance of political stability for investment and growth, citing research that underscores the need for a transparent and stable policy environment. The government's efforts to encourage the business environment, including the single national window, have been acknowledged, but there is still work to be done to streamline bureaucracy in some states. S he remarked, "It's a glass half full, they're still important procedures that are needed to simplify further. But there are important steps that were taken. For example, the single national window, the one-stop shop for companies is a very important one. But still, in many states, there's a lot of bureaucracy that needs to be tackled and streamlined and a lot of red tape. So this is also a work in progress that needs to be continued." The IMF advocates for labour reform in India, pointing out the abundance of untapped labour potential that needs concerted efforts in education, skilling, and increasing female labour force participation. Choueiri expressed the view, "India has in abundance labour. And Labour is not used to its potential in India. And so, in our view, there has to be a very concerted effort to make sure that the advantages and demographics in India are played up to the maximum.” Addressing risks, Choueiri mentioned the tricky external environment and the potential medium-term risks from climate change. She emphasized the need for proper management of these risks to ensure India's continued success. She cautioned that India was performing well and had tremendous potential, adding that several important policies needed to be addressed to harness that potential. (With inputs from PTI) WATCH WION LIVE HERE

India contributes over 16% to global growth, IMF report reveals strong economic performance

After Kerala, JN.1 variant has now been found in Goa. 142 new cases have been reported in India in the last 24 hours. Singapore has become a country of concern, Indonesia is asking travellers to be vigilant. In Malaysia, cases have doubled. This is December Deja Vu.

Gravitas: Covid-19: After Kerala, JN.1 variant reported in Goa

The COVID scare does not seem to go away four years since China reported its first case and new variants are still circulating globally. The Indian government has now confirmed the presence of JN.1 subvariant of COVID-19 in the southern state of Kerala.

Covid variant JN.1 in India: Masks mandatory for everyone aged 60 & over in Karnataka

Here, we bring you the news that is trending across WION's social media platforms.

India: Over 800 stranded in rainfall in Tamil Nadu | Covid makes global comeback | Trending on WION

Covid cases are once again on the rise, in India. The Indian government has confirmed the presence of JN.1 subvariant of COVID-19 in the southern state of Kerala. The Union Health Ministry data on Monday revealed that India recorded 260 new Covid infections in the last 24 hours.

Covid-19 makes global comeback; new Omicron sub-variant JN.1 causes global concern | WION

JN.1 sub-variant cases surge worldwide; India, Singapore, UK among many nations to report rise

India’s key opposition parties gather to discuss 2024 roadmap. After the recent setback in state polls, the parties are expected to discuss a joint campaign strategy and seat sharing.

India's opposition bloc key meet underway amidst the mass suspension of MPs from Parliament

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy.<o:p></o:p>

India contributes over 16pc to global growth, IMF report reveals strong economic performance<o:p></o:p>

India's strong economic performance has been lauded by the International Monetary Fund (IMF), which has projected that the country will contribute more than 16 per cent to global growth as a result of significant infrastructure and digitalisation reforms.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/india-contributes-over-16pc-to-global-growth-imf-report-reveals-strong-economic-performance-671140">Read more here</a><o:p></o:p>

EU launches first probe under Digital Services Act, targets X over suspected violations<o:p></o:p>

Under the Digital Services Act (DSA), the European Union (EU) has launched its first inquiry, targeting social media behemoth X for alleged breaches, mostly pertaining to posts made in the wake of Hamas's attacks on Israel.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/eu-launches-first-probe-under-digital-services-act-targets-x-over-suspected-violations-671151">Read more here</a><o:p></o:p>

Red Sea attacks disrupt global shipping: Coalition forming to tackle threat<o:p></o:p>

The United States is working quickly to form a coalition to counter the growing threat posed by recent attacks on ships in the Red Sea by Houthi insurgents from Yemen affiliated with Iran.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/red-sea-attacks-disrupt-global-shipping-coalition-forming-to-tackle-threat-671164">Read more here</a><o:p></o:p>

Rupiah faces testing times as Indonesia gears up for elections<o:p></o:p>

The strength of the rupiah is being closely watched as Indonesia gets ready for its national elections in February 2024; experts see a possible downward trend in the value of the currency.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/rupiah-faces-testing-times-as-indonesia-gears-up-for-elections-671201">Read more here</a><o:p></o:p>

India leads global remittance surge with projected 23pc increase to $125 bn in 2023<o:p></o:p>

As per the World Bank's latest Migration and Development Brief, India is expected to become the world's largest recipient of remittances in 2023, with an expected increase of more than 11 per cent, culminating in $125 billion.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/india-leads-global-remittance-surge-with-projected-23pc-increase-to-125-bn-in-2023-671207">Read more here</a><o:p></o:p>

Turkey saves billions on Russian oil amid sanctions, boosting imports<o:p></o:p>

Turkey and Turkish businesses were able to dramatically increase imports of Russian oil and refined goods in 2023, saving them almost $2 billion in energy costs.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/turkey-saves-billions-on-russian-oil-amid-sanctions-boosting-imports-671228">Read more here</a><o:p></o:p>

UPI transactions skyrocket, marking a 147pc surge in five years: Government Reports<o:p></o:p>

The Unified Payments Interface (UPI) has become the driving force behind an increase in digital payments, resulting in a 7.8 per cent growth in banknotes in circulation during the most recent fiscal year.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/upi-transactions-skyrocket-marking-a-147pc-surge-in-five-years-government-reports-671247">Read more here</a><o:p></o:p>

Apple halts US sales of Series 9 and Ultra 2 smartwatches amid patent dispute<o:p></o:p>

Apple has announced the temporary suspension of sales for its Series 9 and Ultra 2 smartwatches in the United States due to a legal issue that affects the blood oxygen feature.<o:p></o:p>

<a href="https://www.wionews.com/business-economy/apple-halts-us-sales-of-series-9-and-ultra-2-smartwatches-amid-patent-dispute-671263">Read more here</a><o:p></o:p>

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WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. India contributes over 16pc to global growth, IMF report reveals strong economic performance India's strong economic performance has been lauded by the International Monetary Fund (IMF), which has projected that the country will contribute more than 16 per cent to global growth as a result of significant infrastructure and digitalisation reforms.

WION's Business Desk brings you this daily round-up of global stories from the world of business and economy. India contributes over 16pc to global growth, IMF report reveals strong economic performance India's strong economic performance has been lauded by the International Monetary Fund (IMF), which has projected that the country will contribute more than 16 per cent to global growth as a result of significant infrastructure and digitalisation reforms. Read more here EU launches first probe under Digital Services Act, targets X over suspected violations Under the Digital Services Act (DSA), the European Union (EU) has launched its first inquiry, targeting social media behemoth X for alleged breaches, mostly pertaining to posts made in the wake of Hamas's attacks on Israel. Read more here Red Sea attacks disrupt global shipping: Coalition forming to tackle threat The United States is working quickly to form a coalition to counter the growing threat posed by recent attacks on ships in the Red Sea by Houthi insurgents from Yemen affiliated with Iran. Read more here Rupiah faces testing times as Indonesia gears up for elections The strength of the rupiah is being closely watched as Indonesia gets ready for its national elections in February 2024; experts see a possible downward trend in the value of the currency. Read more here India leads global remittance surge with projected 23pc increase to $125 bn in 2023 As per the World Bank's latest Migration and Development Brief, India is expected to become the world's largest recipient of remittances in 2023, with an expected increase of more than 11 per cent, culminating in $125 billion. Read more here Turkey saves billions on Russian oil amid sanctions, boosting imports Turkey and Turkish businesses were able to dramatically increase imports of Russian oil and refined goods in 2023, saving them almost $2 billion in energy costs. Read more here UPI transactions skyrocket, marking a 147pc surge in five years: Government Reports The Unified Payments Interface (UPI) has become the driving force behind an increase in digital payments, resulting in a 7.8 per cent growth in banknotes in circulation during the most recent fiscal year. Read more here Apple halts US sales of Series 9 and Ultra 2 smartwatches amid patent dispute Apple has announced the temporary suspension of sales for its Series 9 and Ultra 2 smartwatches in the United States due to a legal issue that affects the blood oxygen feature. Read more here WATCH WION LIVE HERE

WION Business Wrap | India’s 16pc contribution to global growth, EU’s probe on X, Red sea attacks & more

The Unified Payments Interface (UPI) has emerged as the powerhouse behind a remarkable surge in digital payments, reducing the growth of banknotes in circulation to 7.8 per cent in the last fiscal year, according to a government statement reported by Hindustan Times.<o:p></o:p>

Minister of State for Finance Bhagwat K Karad revealed in a written reply to Lok Sabha that UPI transactions have skyrocketed from 92 crore rupees ($11 million) in FY 2017-18 to 8,375 crore rupees ($1 billion) in FY 2022-23, boasting an impressive Compound Annual Growth Rate (CAGR) of 147 per cent in terms of volume.<o:p></o:p>

Simultaneously, the value of UPI transactions has soared from 1 lakh crore rupees ($1 trillion) in FY 2017-18 to 139 lakh crore rupees ($16 trillion) in FY 2022-23, demonstrating a robust CAGR of 168 per cent. 

In the ongoing financial year until December 11, UPI has achieved a staggering 8,572 crore transactions. UPI constitutes 62 per cent of digital payment transactions in FY 2022-23, contributing significantly to the decline in the Year-on-Year growth of banknotes in circulation.<o:p></o:p>

The journey of UPI, initiated in 2016 as an instant payment system by the National Payments Corporation of India (NPCI), has seen continuous evolution.

Recently, the Reserve Bank of India (RBI) granted approval to link RuPay credit cards to UPI, eliminating the need for a physical plastic card. This move enables customers to use RuPay credit cards seamlessly at small merchant outlets equipped with QR codes.<o:p></o:p>

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The Unified Payments Interface (UPI) has emerged as the powerhouse behind a remarkable surge in digital payments, reducing the growth of banknotes in circulation to 7.

The Unified Payments Interface (UPI) has emerged as the powerhouse behind a remarkable surge in digital payments, reducing the growth of banknotes in circulation to 7.8 per cent in the last fiscal year, according to a government statement reported by Hindustan Times. Minister of State for Finance Bhagwat K Karad revealed in a written reply to Lok Sabha that UPI transactions have skyrocketed from 92 crore rupees ($11 million) in FY 2017-18 to 8,375 crore rupees ($1 billion) in FY 2022-23, boasting an impressive Compound Annual Growth Rate (CAGR) of 147 per cent in terms of volume. Simultaneously, the value of UPI transactions has soared from 1 lakh crore rupees ($1 trillion) in FY 2017-18 to 139 lakh crore rupees ($16 trillion) in FY 2022-23, demonstrating a robust CAGR of 168 per cent. In the ongoing financial year until December 11, UPI has achieved a staggering 8,572 crore transactions. UPI constitutes 62 per cent of digital payment transactions in FY 2022-23, contributing significantly to the decline in the Year-on-Year growth of banknotes in circulation. The journey of UPI, initiated in 2016 as an instant payment system by the National Payments Corporation of India (NPCI), has seen continuous evolution. Recently, the Reserve Bank of India (RBI) granted approval to link RuPay credit cards to UPI, eliminating the need for a physical plastic card. This move enables customers to use RuPay credit cards seamlessly at small merchant outlets equipped with QR codes. WATCH WION LIVE HERE

UPI transactions skyrocket, marking a 147pc surge in five years: Government Reports

Critical meeting of the Opposition INDIA group will take place in Delhi and cover a range of topics, including as seat-sharing, developing a common campaign roadmap, and formulating a plan to challenge the BJP in the 2024 Lok Sabha elections.

2024 Lok Sabha elections preparation: INDIA alliance to meet today after over three months

During the state visit of Oman's ruler, Sultan Haitham bin Tarik, India and Oman have made progress in discussions over a Comprehensive Economic Partnership Agreement (CEPA), bilateral investments, and potential bilateral rupee trade on Saturday.<o:p></o:p>

This marks a pivotal moment in bilateral relations, with Sultan Haitham being the first Omani ruler to visit India since 1997. Mint cited Foreign Secretary Vinay Mohan Kwatra, who emphasised the recent advancements, stating, "Although the negotiations on CEPA have started only recently, they have made substantial progress in the last few rounds of discussion." <o:p></o:p>

The proposed CEPA aims to eliminate import duties, benefiting key sectors like motor gasoline, textiles, electronics, machinery, and iron and steel.<o:p></o:p>

Boosting economic cooperation and investments<o:p></o:p>

Prime Minister Narendra Modi and Sultan Haitham discussed the multifaceted aspects of economic cooperation, with a focus on the release of the third tranche of the Oman India Joint Investment Fund, totalling $300 million. The objective of this joint venture between the Oman Investment Authority and the State Bank of India is to direct investments towards the rapidly expanding sectors of India.<o:p></o:p>

According to a report by the Hindustan Times, Modi expressed optimism about the ongoing CEPA discussions, stating, "I am glad that discussions on CEPA are ongoing between the two sides. Two rounds of talks have been successfully completed, in which consensus has been reached on many important issues."<o:p></o:p>

The leaders adopted the "India-Oman Joint Vision: A partnership for the future," outlining concrete action points for 10 sectors.<o:p></o:p>

Exploring new avenues of cooperation<o:p></o:p>

Beyond economic ties, the discussions between India and Oman delved into various sectors. Foreign Secretary Kwatra highlighted the exploration of financial technologies, the possibility of establishing rupee trade, and cooperation in space-related activities, including services, satellite building and launching, and capacity building. The talks also extended to green hydrogen, renewable energy, and the strategic utilisation of Oman's Duqm port by Indian navy ships for logistical and humanitarian purposes.<o:p></o:p>

Shared vision for the future<o:p></o:p>

The joint vision document, shaped by the Oman Vision 2040 and India's development vision till 2047, focuses on 10 key areas. These include maritime cooperation, energy security, space cooperation, digital payments, health, tourism, disaster management, agriculture, and the use of cricket to enhance people-to-people ties. Sultan Haitham and Modi expressed confidence that the joint vision would pave the way for a new and modern shape to their partnership.<o:p></o:p>

Challenges and regional issues<o:p></o:p>

The discussions also addressed challenges in West Asia, with a specific mention of the crisis in the region. Foreign Secretary Kwatra emphasised a shared appreciation of the challenges arising from the Israel-Hamas conflict, describing it as an "important element of the discussions." <o:p></o:p>

The leaders exchanged perspectives on terrorism, advocating for a two-state solution as a way forward. Additionally, agreements were signed on cooperation in combating financial crimes, information technology, culture, and the establishment of a Hindi chair of the Indian Council for Cultural Relations (ICCR) in Oman.<o:p></o:p>

Maritime security and defence engagement<o:p></o:p>

India and Oman reaffirmed their partnership in maritime security in the western Indian Ocean, with robust defence engagement. Maritime cooperation is extensive, and Oman's Duqm port is positioned as a logistical base for joint efforts in humanitarian assistance and disaster relief. Foreign Secretary Kwatra underscored the vital role of the Indian community in Oman, with 700,000 members contributing significantly to the country's economic development.

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During the state visit of Oman's ruler, Sultan Haitham bin Tarik, India and Oman have made progress in discussions over a Comprehensive Economic Partnership Agreement (CEPA), bilateral investments, and potential bilateral rupee trade on Saturday.

During the state visit of Oman's ruler, Sultan Haitham bin Tarik, India and Oman have made progress in discussions over a Comprehensive Economic Partnership Agreement (CEPA), bilateral investments, and potential bilateral rupee trade on Saturday. This marks a pivotal moment in bilateral relations, with Sultan Haitham being the first Omani ruler to visit India since 1997. Mint cited Foreign Secretary Vinay Mohan Kwatra, who emphasised the recent advancements, stating, "Although the negotiations on CEPA have started only recently, they have made substantial progress in the last few rounds of discussion." The proposed CEPA aims to eliminate import duties, benefiting key sectors like motor gasoline, textiles, electronics, machinery, and iron and steel. Boosting economic cooperation and investments Prime Minister Narendra Modi and Sultan Haitham discussed the multifaceted aspects of economic cooperation, with a focus on the release of the third tranche of the Oman India Joint Investment Fund, totalling $300 million. The objective of this joint venture between the Oman Investment Authority and the State Bank of India is to direct investments towards the rapidly expanding sectors of India. According to a report by the Hindustan Times, Modi expressed optimism about the ongoing CEPA discussions, stating, "I am glad that discussions on CEPA are ongoing between the two sides. Two rounds of talks have been successfully completed, in which consensus has been reached on many important issues." The leaders adopted the "India-Oman Joint Vision: A partnership for the future," outlining concrete action points for 10 sectors. Exploring new avenues of cooperation Beyond economic ties, the discussions between India and Oman delved into various sectors. Foreign Secretary Kwatra highlighted the exploration of financial technologies, the possibility of establishing rupee trade, and cooperation in space-related activities, including services, satellite building and launching, and capacity building. The talks also extended to green hydrogen, renewable energy, and the strategic utilisation of Oman's Duqm port by Indian navy ships for logistical and humanitarian purposes. Shared vision for the future The joint vision document, shaped by the Oman Vision 2040 and India's development vision till 2047, focuses on 10 key areas. These include maritime cooperation, energy security, space cooperation, digital payments, health, tourism, disaster management, agriculture, and the use of cricket to enhance people-to-people ties. Sultan Haitham and Modi expressed confidence that the joint vision would pave the way for a new and modern shape to their partnership. Challenges and regional issues The discussions also addressed challenges in West Asia, with a specific mention of the crisis in the region. Foreign Secretary Kwatra emphasised a shared appreciation of the challenges arising from the Israel-Hamas conflict, describing it as an "important element of the discussions." The leaders exchanged perspectives on terrorism, advocating for a two-state solution as a way forward. Additionally, agreements were signed on cooperation in combating financial crimes, information technology, culture, and the establishment of a Hindi chair of the Indian Council for Cultural Relations (ICCR) in Oman. Maritime security and defence engagement India and Oman reaffirmed their partnership in maritime security in the western Indian Ocean, with robust defence engagement. Maritime cooperation is extensive, and Oman's Duqm port is positioned as a logistical base for joint efforts in humanitarian assistance and disaster relief. Foreign Secretary Kwatra underscored the vital role of the Indian community in Oman, with 700,000 members contributing significantly to the country's economic development. WATCH WION LIVE HERE

India and Oman strengthen economic ties: CEPA progress and joint vision

A total of 78 opposition MPs were suspended from both houses of parliament on Monday, December 18, taking the total of suspended MPs since December 15 to 92. While 33 MPs were suspended in the Lok Sabha, 45 were suspended in the Rajya Sabha. On December 14, a total of 14 MPs (13 in Lok Sabha and one in Rajya Sabha) were suspended

India: 78 MPs suspended for unruly behaviour in Parliament

Surat, the diamond cutting and polishing capital of the world, processes 90% of the globe's rough diamonds. With the inauguration of this massive bourse, the city aims to solidify its position as the world's diamond capital.

Modi launches world's largest diamond bourse, promises 150,000 jobs

Covid-19: Kerala records 111 new Covid cases & 1 death | World News | WION

India's National Investigation Agency (NIA) conducts extensive raids across four states, targeting a network with suspected Islamic State ties. Spanning 19 locations in Karnataka, Jharkhand, Maharashtra, and Delhi, these actions build on recent operations against terrorism. The report delves into the strategy, key figures detained, and the seizure of explosive materials and incriminating evidence, highlighting India's multifaceted fight against terror groups like ISIS and PLFI.

Gravitas | India's NIA targets terror networks in nationwide raids

India and Oman are rapidly advancing towards a lucrative trade deal that promises significant economic gains. With a focus extending beyond petroleum, the negotiations reveal strategic manoeuvres and opportunities.

Oman deal offers gains for India

India: 78 MPs suspended from Indian parliament for unruly behaviour

Congress president Mallikarjun Kharge, on December 18 launched the party's crowdfunding campaign in Delhi, asking people to join the fight against unemployment and rising costs. Kharge donated a sum of ₹1,38,000 from his salary to launch the "Donate for Desh" campaign in the presence of party leaders and general secretaries K. C. Venugopal and Jairam Ramesh and treasurer Ajay Maken.

Congress launches 'Donate for Desh' crowdfunding campaign

Nitin Gadkari, India's Minister of Road Transport and Highways, voiced strong opposition to the introduction of driverless cars in the world's fifth largest economy after the Member of Parliament from Maharashtra's Nagpur cited concerns over potential job losses for drivers.&nbsp;

"I will never allow driverless cars to come into India because it will take away the jobs of several drivers, and I will not let that happen," Gadkari was quoted as saying by Business Today.

While&nbsp;welcoming&nbsp;Elon Musk's Tesla to operate in India, Gadkari laid out a condition that could impact the electric vehicle giant's plans.&nbsp;

Also watch |&nbsp;Self-driving cars: $100 billion bet gone wrong?

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He specified that Tesla could not manufacture vehicles in China for sales in India, stating, "We will allow Tesla to come to India, but they cannot manufacture in China and sell it in India. That is an impossible thing to happen."

In the past, while Elon Musk has criticised what he claimed were India's high import taxes, New Delhi remains averse to the idea of letting Tesla sell electric vehicles made in China.&nbsp;

<h2>Gadkari's remarks on driverless cars: What do they mean?</h2>

Gadkari's remarks highlight the intersection of technology, employment, and international trade policies in India's evolving automotive landscape.&nbsp;

The government's approach towards autonomous vehicles also reflects a policy of caution rather than a sense of excitement over innovation whose potential may impact human jobs in India where a large number of people are employed in the transportation sector.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/ai-based-tech-start-up-develops-indias-first-autonomous-car-zpod-600898">AI-based tech start-up develops India's first autonomous car 'zPod'</a>

In addition to addressing concerns about the future of transportation, Gadkari underlined the significance of hydrogen as the fuel of the future. He affirmed New Delhi's move to embrace advanced technology for improving public infrastructure.

"Hydrogen is the futuristic fuel, and we are working towards bringing the best technology to help in enhancing public infrastructure."

<h2>What's the bottom line?</h2>

As India navigates the evolving landscape of mobility and energy amid spree of innovations, the government's decisions will likely have far-reaching implications for both the automotive industry as well as the workforce.

(With inputs from agencies)

Nitin Gadkari, India's Minister of Road Transport and Highways, voiced strong opposition to the introduction of driverless cars in the world's fifth largest economy after the Member of Parliament from Maharashtra's Nagpur cited concerns over potential job losses for drivers.

Nitin Gadkari, India's Minister of Road Transport and Highways, voiced strong opposition to the introduction of driverless cars in the world's fifth largest economy after the Member of Parliament from Maharashtra's Nagpur cited concerns over potential job losses for drivers. "I will never allow driverless cars to come into India because it will take away the jobs of several drivers, and I will not let that happen," Gadkari was quoted as saying by Business Today. While welcoming Elon Musk's Tesla to operate in India, Gadkari laid out a condition that could impact the electric vehicle giant's plans. Also watch | Self-driving cars: $100 billion bet gone wrong? × He specified that Tesla could not manufacture vehicles in China for sales in India, stating, "We will allow Tesla to come to India, but they cannot manufacture in China and sell it in India. That is an impossible thing to happen." In the past, while Elon Musk has criticised what he claimed were India's high import taxes, New Delhi remains averse to the idea of letting Tesla sell electric vehicles made in China. Gadkari's remarks on driverless cars: What do they mean? Gadkari's remarks highlight the intersection of technology, employment, and international trade policies in India's evolving automotive landscape. The government's approach towards autonomous vehicles also reflects a policy of caution rather than a sense of excitement over innovation whose potential may impact human jobs in India where a large number of people are employed in the transportation sector. Also read | AI-based tech start-up develops India's first autonomous car 'zPod' In addition to addressing concerns about the future of transportation, Gadkari underlined the significance of hydrogen as the fuel of the future. He affirmed New Delhi's move to embrace advanced technology for improving public infrastructure. "Hydrogen is the futuristic fuel, and we are working towards bringing the best technology to help in enhancing public infrastructure." What's the bottom line? As India navigates the evolving landscape of mobility and energy amid spree of innovations, the government's decisions will likely have far-reaching implications for both the automotive industry as well as the workforce. (With inputs from agencies)

Will driverless cars run on Indian roads? Minister Nitin Gadkari clears the air

The Indian government has tabled Telecommunications bill 2023 in the lower house of the parliament, The Union cabinet approved the bill in August 2023. The bill will replace the colonial era Indian Telegraph Act.

Telecom Bill 2023: Modernising India's telecom sector

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