India will be focusing on 3Cs-Culture, Crafts, and Cuisine as it hosts G20, Muktesh K Pardeshi, Special Secretary and head of operations and logistics for India's G20 Presidency Secretariat.

India will be focusing on 3Cs-Culture, Crafts, and Cuisine as it hosts G20, Muktesh K Pardeshi, Special Secretary and head of operations and logistics for India's G20 Presidency Secretariat. The Bharat Mandapam would serve as the epicentre of cultural celebration, housing an exhibition highlighting India's role as the "mother of democracy." Speaking to our diplomatic correspondent Sidhant Sibal, Pardeshi explained, "What you will see at Bharat Mandapam, with the assistance of the Ministry of Culture, is to create an exhibition showcasing the evolution, birth, and evolution of democratic credentials in our country." The Crafts Bazaar, a central attraction at the Bharat Mandapam, the venue of the summit, will allow delegates to witness and purchase exquisite creations while experiencing a seamless digital payment system. Pardeshi emphasised, "The central idea is that delegates who are coming in, you know they have a paucity of time so they can walk across to the craft bazaar, they can see the exhibition and also buy." Security and medical preparedness remain paramount, with Pardeshi stating, "Delhi police have deployed personnel," and, "a dedicated G20 cell...certainly 500 doctors and medical personnel in readiness to help us out." India hosts the G20 summit on 9-10 September in Delhi. WION: If you can talk about the preparations for the summit? Muktesh K Pardeshi: We have been preparing for this week, for the last year. You know the G 20 Secretariat, where we are speaking, it was created in February last year. Since then we developed an operational plan, a plan for logistics, media management, security protocols, and all of the associated elements. As we are getting close to the summit, we have an experience of dealing with some 200 meetings all over India. In 60 locations, we have hosted G 20 meetings and events. So I would say there is a certain level of self-assurance that we have when we are going to lead to the summit this week. WION: Can we talk about what can be expected in terms of the leader's visit? Muktesh K Pardeshi: Most of the leaders will arrive at eight, some might arrive also in seven late evening night. So eight is basically a day of arrival. Main meetings will take place on Ninth and 10th at Bharat Mandapam, its newly named and newly built Convention Center, which has come up at Pragati Maidan. This is a very modern convention centre, and this has facilities for hosting the main conference, and the G20 summit, as well as we have been able to create all associated facilities at Bharat Mandapam itself. For instance, in Bali, we have the media centre in some other place, it was not at the leader's convention centre, but here at Bharat Mandapam, it's a self-contained unit where we have delegates lounge, we have the leader's meeting room and large media centre is also coming up. We also have a place, an exhibition come sale called craft bazaar, which will happen next to the media centre. Apart from that there are several exhibitions and we can speak about that but so far as the program is concerned, On the ninth, there will be sessions and a Gala dinner, and on the ninth, there will be the last and concluding session where there will be a few minutes also dedicated on symbolic handing over to Presidency and as you know Brazil will be taking over the presidency, from us from first of December. So this handing over is very symbolic. In fact, India will continue to do its role performance role at G20 until 30th November. WION: What can be expected at the Gala dinner? Muktesh K Pardeshi: Some kind of cultural program is, of course, part of the gala dinner, we'll have a musical ensemble presenting some classical and folk to leaders, the whole idea is also to allow leaders to converse. The dinner is also utilized for social interaction among the leaders. So, lighter music will allow them to make some decision-making acquaintances and carry on interaction with other world leaders. WION: Maybe leaders shaking a leg at Natu Natu Muktesh K Pardeshi: The exact how it will be choreographed, has different components that are being done by the cultural group. I can broadly share that there will be a combination of classical not necessarily on film, but the focus would be more on classical instruments. WION: Summits are opportunities to showcase, we saw that in Bali. If you can give details on the crafts which you talked about Muktesh K Pardeshi: From the beginning when we took over the presidency, and one of the mann ki baat addresses of the Prime Minister, he himself had shared his vision about conducting the G 20 meetings. So as part of our hospitality, sharing strategy, we are focusing on the three C's in a big manner, culture, crafts, and cuisine. You will also see a focus on these three C's during the summit in terms of culture. What you will see at Bharat Mandapam, what we are going to see, with the assistance of the Ministry of Culture is to create an exhibition on Bharat, the mother of democracy, so there will be several panels, which will be installed at the media centre and in the delegates lounge, showcasing the evolution, birth and evolution of democratic credentials in our country. So that's one narrative that is being created through our G20 presidency. Apart from this, there is also a cultural gallery, and exhibits and artefacts from the participating G 20 will also be displayed that will again happen, There'll be a separate cultural program and exposure to crafts for the spouses at Jaipur house. Apart from this the craft bazaar, the central idea is that delegates who are coming in, you know they have a paucity of time so they can walk across to the craft bazar, they can see the exhibition and also buy. The shopping experience will also be the means for payment etc. will be through digital means. So besides the craft bazaar, creating an experienced digital experience zone so that delegates who are visiting India, can see for themselves the advancement in the digital technology sector, improvements and transformation through UPI, Aadhaar and other such platforms will be showcased during the summit for which the ministry of IT and RBI is also helping us. WION: So, essentially we will see the revolution the IT revolution in India, the democratic revolution, and of course, craft and cuisine as well. But some moving on to the protocol aspect. Dealing with so many leaders is not an easy thing. The last time we hosted so many leaders was ASEAN leaders who came for Republic Day, but essentially when it comes to dealing with so many leaders, how difficult it is, how challenging it is and what kind of protocol you have put in place when it comes to the arrivals and of course, their two day or one day stay here in the Indian Capital Muktesh K Pardeshi: As you know, our Chief of Protocol is responsible for the reception and conducting of leaders' arrival, departure and bilateral meetings. So for the last few months, we have been working on a plan and how they will be received, and how they will be taken to different locations and we are working very closely with the security apparatus, which is led by the Delhi police front. Then, for each delegation, for each foreign leader, we have a liaison team, younger officers from MEA and from another ministry we have created a team. So if there is a delegation of x, so few people are already identified, and their names and contact details are shared with the embassies. So they are in touch with each other about their bilateral requirements, what kinds of things we need to know about their arrival or departure schedule, if there are any dietary restrictions, there are any special bilateral meetings that the embassy might be organizing. So this team has been in touch with each delegation. And these teams are also attached to international organizations. So by now we have a fair idea of the requirements and we are sharing details about the movement and hospitality plan. So I would say the Chief of Protocol and his setup is fully geared to look after arrival, departure and conduct of the meetings etc. One thing I wanted to add here apart from the security, when we talk about hospitality and the protocol, the medical facilities are very important. So Director General of Health Services, which is under the Ministry of Health, we have developed a plan that incorporates a number of hospitals. They have been readied to take care of any medical emergency and evacuation as well. So protocol, security and medical arrangements work in tandem to give what is a very pleasurable experience to each delegation. WION: Any special request by any delegation.. Muktesh K Pardeshi: There are always you know, when we are dealing with the leaders of any country for that matter. I mean, we cannot have one clear-cut benchmark. Yes, there are some standard protocols in place but there are always some given an understanding of their security requirements, understanding of their medical leader's medical requirements, and some bilateral requests which are flowing from each delegation. That's the job of the process, to have a standard template, but at the same time, respond to any particular request. WION: So it is a whole-of-government approach. It is a whole-of-society approach in many ways as well. But talking about numbers, how many personalities whether it's MEA or other ministries, security, can you give a ballpoint figure as to how many people are involved exactly to deal with the entire summit proceedings? Muktesh K Pardeshi: We have not calculated as such but there is a big number. For example, the Delhi police has deployed a large number of personnel to take care of security requirements. Medical side, I can say some 500 people are directly working in this because at each hotel, there is a small medical unit and all sites where the leaders will be visiting their medical facility are apart from each hospital creating a dedicated G 20 cell. So if there are some 20 hospitals involved, you can imagine certainly 500 doctors and medical personnel in readiness to help us out. Now from the G 20 Secretariat, apart from the normal size that MEA is deploying a large number of people from other divisions, some colleagues have also come from embassies to help us out. At the instruction of the Prime Minister, we have inducted approximately 140 young officers from different services to help us out. They are from IAS, IPS, and forest services, representing different central services like Railways and telecom services. Prime Minister is very keen to impart the experience, and knowledge to the newer generation. That is why the special focus is to involve some 140 Younger officers who have five to seven years of work experience. They have been divided into different groups, this is how we are creating capacity amongst the younger civil servants. WION: Will the measures impact the common man, if you clarify this.. Muktesh K Pardeshi: I think careful consideration has been given by the government. And there is a fair balance between the convenience and protocols associated with the arrival of leaders and also the convenience of normal people. So that's why the holiday has been declared on the 8th so that they don't have to go to the workplace they can work from home or if they want to go out and Delhi. Delhi police have already shared through the newspaper ads, the traffic management plan, some areas are called regulated zones, and some areas are control zones, so the sense I get is within the periphery of the ring road, there will be more restrictions but outside the life should go. Apart from hospitals, which are taking care of the requirements of the VIPs and other delegates, does not mean that the hospital is completely closed on the other requirements. They are on standby for extending any service to the building. Otherwise, they will be working. Life around the hotels and the venues will certainly be restricted. What is important is the Delhi police are sharing all this information with the public through newspaper ads, and they have also created a portal where real-time information is there. The idea is that the government and citizens, become a stakeholder in conducting this larger international interest exercise, which is called a G20. 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.

G20: India to showcase its democratic evolution, culture & digital payments revolution, says Muktesh Pardeshi

Nigerian President Bola Ahmed Tinubu is en route Delhi for the G20 summit with the delegation of leading businessman, industrialists and technocrats of his country. The G20 summit will be held on 9th and 10th September.

India G20 2023: Nigerian delegation leaves for summit, President Tinubu en route New Delhi | WION

The International Air Transport Association (IATA) has removed the airline codes “G8” and “9W” assigned to Go First and Jet Airways after being non-operational, Mint reported.

IATA’s head of communications stated that in order to be considered for an IATA two-letter designator, an airline must be in operation. Early in May of this year, Go First Airlines stopped operating its commercial flights.

The "G8"&nbsp;for Go First has been revoked by the IATA, which gives airlines a two-letter designator and numeric codes, for a period of one year.

According to the IATA website, companies are given the airline designator code to use for bookings, schedules, timetables, telecommunications, ticketing, cargo paperwork, legal, tariffs, and other commercial and related traffic purposes.

“One of the requirements for a company to be eligible for an IATA two-letter designator is that the airline needs to be operating. As Go First ceased to operate commercial flights since early May 2023, it is currently not eligible for the IATA two-letter designator,” Mint quoted Albert Tjoeng, Head of Corporate Communications at IATA, as saying in a statement.

According to him, the two-letter designator and numeric codes will be blocked for a period of a year, after which Go First may apply to have the designator reinstated provided the conditions are satisfied.

Budget airline Go First stopped flying on May 3 and is currently going through an insolvency resolution procedure due to financial difficulties and engine problems.

“9W,” a two-letter designator, is still barred in the case of Jet Airways, which was grounded in April 2019.

IATA codes are essential for identifying an airline, its destinations, and papers used in traffic.

The National Company Law Tribunal (NCLT) asked the Insolvency and Bankruptcy Board of India (IBBI) and the Committee of Creditors (CoC) for their approval earlier in July regarding Go First’s proposal to return money to passengers who had made reservations for flights after May 3, the day the airline ceased operations.

The Go First management team, under the direction of the Resolution Professional (RP), filed a refund plan that called for a combination of payment through credit notes given to travellers and travel broker with settlements done using operating revenue.

The National Company Appellate Tribunal (NCLAT) also handed the winning bidder for Jet Airways, the Jalan-Kalrock consortium, till September 30 to pay the Rs 350 crore ($ 42 million) in debts owed to the airline’s lenders.

The consortium’s request to apply Rs 150 crore ($18 million) from a performance bank guarantee towards the payment of 350 crore was also granted by the tribunal.

The NCLAT will take up the remaining issues after September 30th, including the one from the workers who are requesting the recovery of around 224 crore in unpaid wages.

The resolution plan for Jet Airways was approved by the NCLT on June 22, 2021. It was submitted by the Jalan-Kalrock consortium, which included Florian Fritsch and non-resident Indian Murari Lal Jalan. Jalan will own shares in Jet Airways through his investment holding company Kalrock Capital Partners Ltd., Cayman.

In April 2019, Jet Airways was forced to stop operations due to financial issues. However, due to ongoing disagreements between the consortium and the lenders, the transfer of ownership has been on hold.

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The International Air Transport Association (IATA) has removed the airline codes “G8” and “9W” assigned to Go First and Jet Airways after being non-operational, Mint reported.

The International Air Transport Association (IATA) has removed the airline codes “G8” and “9W” assigned to Go First and Jet Airways after being non-operational, Mint reported. IATA’s head of communications stated that in order to be considered for an IATA two-letter designator, an airline must be in operation. Early in May of this year, Go First Airlines stopped operating its commercial flights. The "G8" for Go First has been revoked by the IATA, which gives airlines a two-letter designator and numeric codes, for a period of one year. According to the IATA website, companies are given the airline designator code to use for bookings, schedules, timetables, telecommunications, ticketing, cargo paperwork, legal, tariffs, and other commercial and related traffic purposes. “One of the requirements for a company to be eligible for an IATA two-letter designator is that the airline needs to be operating. As Go First ceased to operate commercial flights since early May 2023, it is currently not eligible for the IATA two-letter designator,” Mint quoted Albert Tjoeng, Head of Corporate Communications at IATA, as saying in a statement. According to him, the two-letter designator and numeric codes will be blocked for a period of a year, after which Go First may apply to have the designator reinstated provided the conditions are satisfied. Budget airline Go First stopped flying on May 3 and is currently going through an insolvency resolution procedure due to financial difficulties and engine problems. “9W,” a two-letter designator, is still barred in the case of Jet Airways, which was grounded in April 2019. IATA codes are essential for identifying an airline, its destinations, and papers used in traffic. The National Company Law Tribunal (NCLT) asked the Insolvency and Bankruptcy Board of India (IBBI) and the Committee of Creditors (CoC) for their approval earlier in July regarding Go First’s proposal to return money to passengers who had made reservations for flights after May 3, the day the airline ceased operations. The Go First management team, under the direction of the Resolution Professional (RP), filed a refund plan that called for a combination of payment through credit notes given to travellers and travel broker with settlements done using operating revenue. The National Company Appellate Tribunal (NCLAT) also handed the winning bidder for Jet Airways, the Jalan-Kalrock consortium, till September 30 to pay the Rs 350 crore ($ 42 million) in debts owed to the airline’s lenders. The consortium’s request to apply Rs 150 crore ($18 million) from a performance bank guarantee towards the payment of 350 crore was also granted by the tribunal. The NCLAT will take up the remaining issues after September 30th, including the one from the workers who are requesting the recovery of around 224 crore in unpaid wages. The resolution plan for Jet Airways was approved by the NCLT on June 22, 2021. It was submitted by the Jalan-Kalrock consortium, which included Florian Fritsch and non-resident Indian Murari Lal Jalan. Jalan will own shares in Jet Airways through his investment holding company Kalrock Capital Partners Ltd., Cayman. In April 2019, Jet Airways was forced to stop operations due to financial issues. However, due to ongoing disagreements between the consortium and the lenders, the transfer of ownership has been on hold. WATCH WION LIVE HERE

Jet Airways and Go Fist lose their airlines codes after being non-operational: Report

Grene Robotics, a well-known deep-tech business with headquarters in Hyderabad, has unveiled "Indrajaal," India's first AI-powered anti-drone system, in a ground-breaking development. This cutting-edge system is intended to protect crucial facilities, governmental infrastructure, and the commercial sector from the growing threat posed by drones.

Indrajaal: India's first AI-powered anti-drone system

Chinese President Xi Jinping will not be attending the G20 Summit in New Delhi next week and Premier Li Qiang is set to represent China at the mega event on September 9th and 10th, according to Chinese Foreign Ministry spokesperson.

G20 India: US President Joe Biden expresses disappointment at Xi Jinping's absence | WION

The G20 Summit today because all eyes will be on the crucial Summit this week. Several world leaders will gather and discuss key issues on the global economy but the meat in New Delhi is not only from its challenges it will be a test for New Delhi as a delegate game of diplomacy plays out well ahead of the summit the UK India trade deal seems to be in jeopardy.

G20 India: Possible challenges ahead of G20; Russia-Ukraine divisions loom over summit

The Indian Space Research Organisation (ISRO) has announced that the Vikram lander of the Chandrayaan-3 mission has been set into sleep mode. This significant development took place at approximately 8 am IST on Monday (September 4). This comes as the Vikram lander exceeded its mission objectives and made a second soft landing on the surface of the moon, as a part of a 'hop experiment.'&nbsp;

While sharing the images of the Vikram lander before and after the hop, ISRO in a post on X (formerly known as Twitter), wrote, "Chandrayaan-3 Mission: Vikram Lander is set into sleep mode around 08:00 Hrs. IST today. Prior to that, in-situ experiments by ChaSTE, RAMBHA-LP and ILSA payloads are performed at the new location."

"The data collected is received at the Earth. Payloads are now switched off. Lander receivers are kept ON. Vikram will fall asleep next to Pragyan once the solar power is depleted and the battery is drained. Hoping for their awakening, around September 22, 2023. "

Also Read | <a href="https://www.wionews.com/india-news/asias-second-largest-fruit-mandi-in-kashmir-abuzz-with-buyers-from-across-india-632186">Asia’s second-largest fruit mandi in Kashmir abuzz with buyers from across India&nbsp;</a>

The term "in-situ" is a Latin phrase that translates to "in place" or "on-site," and it implies that researchers are studying a phenomenon or conducting experiments directly where it naturally occurs, without removing samples or specimens to a different location. Thus, in this, the data is collected directly adjacent to the measuring instrument. These types of experiments offer unfiltered insights into the lunar environment.

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Chandrayaan-3 Mission: 
Vikram Lander is set into sleep mode around 08:00 Hrs. IST today. 
 
Prior to that, in-situ experiments by ChaSTE, RAMBHA-LP and ILSA payloads are performed at the new location. The data collected is received at the Earth. 
Payloads are now switched off.… <a href="https://t.co/vwOWLcbm6P">pic.twitter.com/vwOWLcbm6P</a>
— ISRO (@isro) <a href="https://twitter.com/isro/status/1698618694795219401?ref_src=twsrc%5Etfw">September 4, 2023</a></blockquote>
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The Vikram Lander, named in honour of Dr Vikram A Sarabhai, widely regarded as the father of the Indian Space Programme, was designed to operate for one lunar day, roughly equivalent to 14 Earth days.&nbsp;

<h2>Lunar water</h2>

The data obtained from these experiments has been successfully transmitted back to Earth, contributing significantly to the primary mission objective, which is to locate lunar water.

Also Read | <a href="https://www.wionews.com/entertainment/vijay-deverakonda-visits-yadadri-temple-with-family-post-release-of-kushi-632171">Vijay Deverakonda visits Yadadri Temple with family post release of Kushi</a>

Following the completion of these operations, the lander's payloads have been deactivated, while the lander receivers now remain operational.

<h2>Pragyan rover&nbsp;</h2>

The Pragyan Rover, a companion to the Vikram Lander, has also been placed into sleep mode. Both the lander and the rover will remain in this state until they can recharge their onboard batteries using solar power.

Watch | G20 Summit 2023: Indian PM shrugs off Pakistan, China objections on G20 venues

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This recharging is expected to happen around September 22&nbsp;after the lunar sunrise over the South Pole.&nbsp;The world now eagerly anticipates the reawakening of the Vikram Lander and Pragyan Rover.&nbsp;

<h2>India in space exploration</h2>

The success of the Chandrayaan-3 mission has further solidified India's position as a prominent player in space exploration, following in the footsteps of nations like the United States, China, and Russia. Chandrayaan-3 mission has made India the first nation to land a spacecraft on the unexplored South Pole of the moon and the fourth nation to land on Earth’s lunar satellite.&nbsp;

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The Indian Space Research Organisation (ISRO) has announced that the Vikram lander of the Chandrayaan-3 mission has been set into sleep mode. This significant development took place at approximately 8 am IST on Monday (September 4).

The Indian Space Research Organisation (ISRO) has announced that the Vikram lander of the Chandrayaan-3 mission has been set into sleep mode. This significant development took place at approximately 8 am IST on Monday (September 4). This comes as the Vikram lander exceeded its mission objectives and made a second soft landing on the surface of the moon, as a part of a 'hop experiment.' While sharing the images of the Vikram lander before and after the hop, ISRO in a post on X (formerly known as Twitter), wrote, "Chandrayaan-3 Mission: Vikram Lander is set into sleep mode around 08:00 Hrs. IST today. Prior to that, in-situ experiments by ChaSTE, RAMBHA-LP and ILSA payloads are performed at the new location." "The data collected is received at the Earth. Payloads are now switched off. Lander receivers are kept ON. Vikram will fall asleep next to Pragyan once the solar power is depleted and the battery is drained. Hoping for their awakening, around September 22, 2023. " Also Read | Asia’s second-largest fruit mandi in Kashmir abuzz with buyers from across India The term "in-situ" is a Latin phrase that translates to "in place" or "on-site," and it implies that researchers are studying a phenomenon or conducting experiments directly where it naturally occurs, without removing samples or specimens to a different location. Thus, in this, the data is collected directly adjacent to the measuring instrument. These types of experiments offer unfiltered insights into the lunar environment. Chandrayaan-3 Mission: Vikram Lander is set into sleep mode around 08:00 Hrs. IST today. Prior to that, in-situ experiments by ChaSTE, RAMBHA-LP and ILSA payloads are performed at the new location. The data collected is received at the Earth. Payloads are now switched off.… pic.twitter.com/vwOWLcbm6P — ISRO (@isro) September 4, 2023 × The Vikram Lander, named in honour of Dr Vikram A Sarabhai, widely regarded as the father of the Indian Space Programme, was designed to operate for one lunar day, roughly equivalent to 14 Earth days. Lunar water The data obtained from these experiments has been successfully transmitted back to Earth, contributing significantly to the primary mission objective, which is to locate lunar water. Also Read | Vijay Deverakonda visits Yadadri Temple with family post release of Kushi Following the completion of these operations, the lander's payloads have been deactivated, while the lander receivers now remain operational. Pragyan rover The Pragyan Rover, a companion to the Vikram Lander, has also been placed into sleep mode. Both the lander and the rover will remain in this state until they can recharge their onboard batteries using solar power. Watch | G20 Summit 2023: Indian PM shrugs off Pakistan, China objections on G20 venues × This recharging is expected to happen around September 22 after the lunar sunrise over the South Pole. The world now eagerly anticipates the reawakening of the Vikram Lander and Pragyan Rover. India in space exploration The success of the Chandrayaan-3 mission has further solidified India's position as a prominent player in space exploration, following in the footsteps of nations like the United States, China, and Russia. Chandrayaan-3 mission has made India the first nation to land a spacecraft on the unexplored South Pole of the moon and the fourth nation to land on Earth’s lunar satellite. 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. ×

Chandrayaan-3: Vikram lander is asleep and expected to wake up on Sep 22

Days after Chandrayaan-3's successful moon landing, the Vikram Lander has "soft-landed" on the lunar surface again.

Vikram Lander caps mission goal with a hop, soft-landed on moon again | India News | WION

In a landmark development towards reshaping country connectivity landscape. Bhutan is gearing up to establish its first internationally connected cross border railway with India's Northeastern region.

India-Bhutan railway link: Over $10 million allocated for railway project

G20 Summit 2023: Canada unexpectedly pauses trade talks with India

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Chinese President Xi Jinping is “almost certain” to skip the G20 Summit in New Delhi next week and Premier Li Qiang is set to represent China at the mega event, people familiar with the development said.

G20 Summit 2023: China signals Xi Jinping will not attend G20 summit in India

As concerns about an impending rate hike in the US arise, foreign portfolio investment flows (FPIs) into Indian markets have decreased in August following a strong inflow from April to July, according to a report by Mint.

This led to higher bond yields and a stronger dollar. August saw the weakest inflows since February. Due to worries about a rate hike, emerging countries have begun to pull out.

The portfolio flow data is inclusive of investments made on the primary market and in wholesale transactions. After three months of nonstop buying in the cash market, foreign portfolio investors (FPIs) were net sellers, Mint cited VK Vijayakumar, chief investment strategist at Geojit Financial Services.

According to Vijayakumar, the main factor driving FPIs to sell in the cash market has been the rise in US bond yields and the strength of the dollar index, both of which are detrimental to capital inflows. He said that the financial industry’s profit-booking practices also played a role in the selling by FPIs.

Mint cited Siddharth Khemka, head of retail research at Motilal Oswal Financial Services Ltd., who maintained that, the uncertainty is likely to persist. “There is no clear trend. Uncertainty has increased with no clear indication of the US Federal Reserve’s outlook from US jobs data. The China factor remains another major concern,” Khemka told Mint.

However, block agreements and private equity fund investments show that there is still significant wide market activity. According to analysts, market demand is still quite high as evidenced by subscriptions to initial public offerings (IPOs). Despite their positivity, the market trend is expected to continue to be erratic.

Another rate increase will affect the currency and liquidity, and there are negative risks, according to Khemka.

India is presently facing threats over rising oil prices and uncertainty, raising concerns.

“Currency volatility is again a major risk, and dry weather conditions in September could also add to concerns,” &nbsp;Vikram Cassatt, head of advising at Prabhudas Lilladher Pvt Ltd told Mint. He also pointed out that there may be additional variables, such as inflation rates.

Nishit Master, a portfolio manager at Axis Securities PMS, mentioned that depreciation in rupee versus dollar valuation arbitrage, which could push flows to the Chinese market because it is less expensive, as well as potential increases in energy prices and inflation, are factors that could have a “not very positive” impact on FPI flows in the short term.

On brighter side, FPIs have been selling in the majority of emerging economies in August, primarily as a result of the strengthening dollar and declining bond yields. However, they have performed well in India as compared to other rising markets.

According to Cassatt, Malaysia is the only other Asian market that has had inflows that are higher than those of China, South Korea, and a number of other nations that have experienced significant outflows.

“India can continue to outperform other emerging markets,” Cassatt said.

In terms of economic growth, India is doing well. The robust profit trajectory seen during the first quarter also helped to underpin the markets.

According to Master, the majority of developed markets, including the US, Japan, and the EU (European Union), are either experiencing a recession or have relatively poor growth rates. Even China’s growth has fallen short of market estimates and is predicted to continue to be weak moving forward.

The only big country that would experience substantial growth and draw FPI inflows in such a case is India, according to Master.

Master predicts that FPIs would continue to pour into India despite the dearth of investment prospects.

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As concerns about an impending rate hike in the US arise, foreign portfolio investment flows (FPIs) into Indian markets have decreased in August following a strong inflow from April to July, according to a report by Mint.

As concerns about an impending rate hike in the US arise, foreign portfolio investment flows (FPIs) into Indian markets have decreased in August following a strong inflow from April to July, according to a report by Mint. This led to higher bond yields and a stronger dollar. August saw the weakest inflows since February. Due to worries about a rate hike, emerging countries have begun to pull out. The portfolio flow data is inclusive of investments made on the primary market and in wholesale transactions. After three months of nonstop buying in the cash market, foreign portfolio investors (FPIs) were net sellers, Mint cited VK Vijayakumar, chief investment strategist at Geojit Financial Services. According to Vijayakumar, the main factor driving FPIs to sell in the cash market has been the rise in US bond yields and the strength of the dollar index, both of which are detrimental to capital inflows. He said that the financial industry’s profit-booking practices also played a role in the selling by FPIs. Mint cited Siddharth Khemka, head of retail research at Motilal Oswal Financial Services Ltd., who maintained that, the uncertainty is likely to persist. “There is no clear trend. Uncertainty has increased with no clear indication of the US Federal Reserve’s outlook from US jobs data. The China factor remains another major concern,” Khemka told Mint. However, block agreements and private equity fund investments show that there is still significant wide market activity. According to analysts, market demand is still quite high as evidenced by subscriptions to initial public offerings (IPOs). Despite their positivity, the market trend is expected to continue to be erratic. Another rate increase will affect the currency and liquidity, and there are negative risks, according to Khemka. India is presently facing threats over rising oil prices and uncertainty, raising concerns. “Currency volatility is again a major risk, and dry weather conditions in September could also add to concerns,” Vikram Cassatt, head of advising at Prabhudas Lilladher Pvt Ltd told Mint. He also pointed out that there may be additional variables, such as inflation rates. Nishit Master, a portfolio manager at Axis Securities PMS, mentioned that depreciation in rupee versus dollar valuation arbitrage, which could push flows to the Chinese market because it is less expensive, as well as potential increases in energy prices and inflation, are factors that could have a “not very positive” impact on FPI flows in the short term. On brighter side, FPIs have been selling in the majority of emerging economies in August, primarily as a result of the strengthening dollar and declining bond yields. However, they have performed well in India as compared to other rising markets. According to Cassatt, Malaysia is the only other Asian market that has had inflows that are higher than those of China, South Korea, and a number of other nations that have experienced significant outflows. “India can continue to outperform other emerging markets,” Cassatt said. In terms of economic growth, India is doing well. The robust profit trajectory seen during the first quarter also helped to underpin the markets. According to Master, the majority of developed markets, including the US, Japan, and the EU (European Union), are either experiencing a recession or have relatively poor growth rates. Even China’s growth has fallen short of market estimates and is predicted to continue to be weak moving forward. The only big country that would experience substantial growth and draw FPI inflows in such a case is India, according to Master. Master predicts that FPIs would continue to pour into India despite the dearth of investment prospects. WATCH WION LIVE HERE

Uncertainty surrounding India's FPI likely to continue as it hits its six-month low: Report

G20 Summit 2023: Will Xi Jinping attend the summit?

In the electrifying arena of global smartphone manufacturing, a heavyweight showdown is unfolding. In one corner, we have Vietnam, the reigning champion, the world's second-largest handset exporter after China, with its tariff-free components. And in the other corner, we have India, the contender eager to dethrone the champion and ascend to the throne of smartphone manufacturing greatness.

India vs Vietnam: Fight for smartphone market

Is India moving towards a uniform civil code? If so, what does it mean for a diverse country like India? @MollyGambhir decodes.

Gravitas Plus: Uniform Civil Code debate reignited, Is India really ready for 'One Nation, One Law'?

As India gathers for the G20 Summit in New Delhi, in this report. take a look at the origins and significance of the 20-member bloc.

How G20 nations dominate the world

The Indian Space Research Organization (ISRO) announced today that the Chandrayaan-3 mission's rover Pragyaan had finished its tasks. According to a statement by ISRO on X, formerly known as Twitter, the rover has been securely parked and switched to sleep mode.

Chandrayaan-3: Pragyaan rover completes all of its tasks | India

In a recent interview, Indian PM Modi said, “India's G20 Presidency also sowed seeds of confidence in countries of the so-called third world. Africa is a top priority for us in G20; no future plan of earth can succeed without all voices being heard."

Africa is top priority: Indian PM Modi on India's proposal for African Union's G20 membership

Indian PM proposes full G20 membership for African Union

The ambitious first mission to study the Sun has been launched by the Indian Space Research Organization. The Aditya L1 mission was due to launch on Saturday from Sriharikota's Satish Dhawan Space Center and travel for four months to Lagrange Point 1.

Aditya-L1: India successfully launches its first mission of the Sun

India hosts G20 Summit: Africa at top priority

Prime Minister Narendra Modi has said that India's economic growth is a "natural by-product" of his nine-year-old government's political stability, as he expressed optimism that it will be a developed nation by 2047 with "corruption, casteism and communalism" having no place in our national life.

In an exclusive interview with PTI, the prime minister also stressed on the need for timely and clear communication of policy stance by central banks, and policy actions by each country in their fight against inflation so that it can prevent negative repercussions on others countries. 
 
While most advanced economies are facing an economic slowdown, chronic shortages, high inflation, and ageing populations, the Indian economy is acknowledged to be the fastest-growing large economy with the largest youth population. 
 
"For a long time in world history, India was one of the top economies of the world. Later, due to the impact of colonisation of various kinds, our global footprint was reduced," he said. 
 
"But now, India is again on the rise. The speed with which we jumped five spots, from the 10th largest economy to the fifth largest in less than a decade has conveyed the fact that India means business," he noted. 
 
Adding a fourth 'D' - development - to the 3Ds of democracy, demography and diversity, he said the period till 2047 is one of huge opportunity and "Indians who are living in this era have a great chance to lay a foundation for growth that will be remembered for the next thousand years." India's USD 3.39 trillion GDP overtook that of the UK in the fiscal year ending March 31, 2022, making it the fifth-largest economy in the world behind the US, China, Japan and Germany. 
 
In the three decades before 2014, Modi said, the country saw many governments that were unstable and therefore, unable to get much done. 
 
"But in the last few years, the people have given a decisive mandate [to BJP], which has led to a stable government, predictable policies and clarity in the overall direction," he said.

"This stability is the reason that over the past nine years, several reforms were brought in." These reforms, related to the economy, education, financial sector, banks, digitalisation, welfare, inclusion and social sector, have laid a strong foundation, and “growth is a natural by-product," he said.

The rapid and sustained progress made by India has evoked interest across the world and many countries have been "watching our growth story very closely."

"They are convinced that this progress is not an accident but is happening as a result of a clear, action-oriented roadmap of 'Reform, Perform, Transform'," he said. "For a long time, India was perceived as a nation of over one billion hungry stomachs. But now, India is being seen as a nation of over one billion aspirational minds, more than two billion skilled hands, and hundreds of millions of young people," he said. 
 
He noted that India is home to more than 100 unicorns, is the third-largest start-up hub and its space sector's achievements are being celebrated the world over. India is also breaking all previous records in almost every global sports event and more universities are entering the top rankings of the world year after year, he said. 
 
"With such momentum, I am positive that we will be in the top three economies in the near future," he said. 
 
"By 2047, I am sure that our country will be among the developed countries." Modi said that as a developed nation, the Indian economy will be even more inclusive and innovative, poor people will comprehensively win the battle against poverty, and the nation's health, education and social sector outcomes will be among the best in the world. 
 
"Corruption, casteism and communalism will have no place in our national life," he said. 
 
"The quality of life of our people will be on par with the best countries of the world. Most importantly, we will achieve all of this while caring for both nature and culture," he said. 
 
EY projects India's GDP to cross USD 5 trillion by 2028 to overtake both Japan and Germany. But the US economy is projected to still be nearly six times as large as the Indian economy. 
 
The prime minister said inflation is a key issue that the world faces.

Also read |&nbsp;<a href="https://www.wionews.com/india-news/modi-sets-the-tone-for-un-security-council-reforms-before-hosting-g20-leaders-631947">Modi sets the tone for UN Security Council reforms before hosting G20 leaders</a> 
 
"Our G-20 Presidency engaged the G-20 Finance Ministers and Central Bank Governors. It was recognised that timely and clear communication of policy stances by Central Banks is crucial. This can ensure that policies taken by each country to combat inflation do not lead to negative repercussions in other countries," he said. 
 
The Organisation for Economic Co-operation and Development (OECD) has been targeting proposals to reduce incentives for tax planning and avoidance by limiting tax competition and changing where companies pay taxes.

Also watch |&nbsp;India's G20 presidency: what to expect?

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Pillar 1 of the OECD proposal expands a country's authority to tax profits from companies that make sales into their country but don't have a physical location there.

"This convention will allow countries and jurisdictions to move forward with historic, major reform of the international tax system," Modi said. "As you can see, there is substantial progress across many issues. 
 
This is also a result of the confidence that other partner countries have shown in India's Presidency."

In a recent report, Morgan Stanley called the nine years of Modi government transformational and listed bringing corporate tax at par with peers, infrastructure investment picking pace, rising collection of GST and the increasing share of digital transactions as a percentage of GDP as major initiatives.

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Prime Minister Narendra Modi has said that India's economic growth is a "natural by-product" of his nine-year-old government's political stability, as he expressed optimism that it will be a developed nation by 2047 with "corruption, casteism and communalism" having no place in our national life.

Prime Minister Narendra Modi has said that India's economic growth is a "natural by-product" of his nine-year-old government's political stability, as he expressed optimism that it will be a developed nation by 2047 with "corruption, casteism and communalism" having no place in our national life. In an exclusive interview with PTI, the prime minister also stressed on the need for timely and clear communication of policy stance by central banks, and policy actions by each country in their fight against inflation so that it can prevent negative repercussions on others countries. While most advanced economies are facing an economic slowdown, chronic shortages, high inflation, and ageing populations, the Indian economy is acknowledged to be the fastest-growing large economy with the largest youth population. "For a long time in world history, India was one of the top economies of the world. Later, due to the impact of colonisation of various kinds, our global footprint was reduced," he said. "But now, India is again on the rise. The speed with which we jumped five spots, from the 10th largest economy to the fifth largest in less than a decade has conveyed the fact that India means business," he noted. Adding a fourth 'D' - development - to the 3Ds of democracy, demography and diversity, he said the period till 2047 is one of huge opportunity and "Indians who are living in this era have a great chance to lay a foundation for growth that will be remembered for the next thousand years." India's USD 3.39 trillion GDP overtook that of the UK in the fiscal year ending March 31, 2022, making it the fifth-largest economy in the world behind the US, China, Japan and Germany. In the three decades before 2014, Modi said, the country saw many governments that were unstable and therefore, unable to get much done. "But in the last few years, the people have given a decisive mandate [to BJP], which has led to a stable government, predictable policies and clarity in the overall direction," he said. "This stability is the reason that over the past nine years, several reforms were brought in." These reforms, related to the economy, education, financial sector, banks, digitalisation, welfare, inclusion and social sector, have laid a strong foundation, and “growth is a natural by-product," he said. The rapid and sustained progress made by India has evoked interest across the world and many countries have been "watching our growth story very closely." "They are convinced that this progress is not an accident but is happening as a result of a clear, action-oriented roadmap of 'Reform, Perform, Transform'," he said. "For a long time, India was perceived as a nation of over one billion hungry stomachs. But now, India is being seen as a nation of over one billion aspirational minds, more than two billion skilled hands, and hundreds of millions of young people," he said. He noted that India is home to more than 100 unicorns, is the third-largest start-up hub and its space sector's achievements are being celebrated the world over. India is also breaking all previous records in almost every global sports event and more universities are entering the top rankings of the world year after year, he said. "With such momentum, I am positive that we will be in the top three economies in the near future," he said. "By 2047, I am sure that our country will be among the developed countries." Modi said that as a developed nation, the Indian economy will be even more inclusive and innovative, poor people will comprehensively win the battle against poverty, and the nation's health, education and social sector outcomes will be among the best in the world. "Corruption, casteism and communalism will have no place in our national life," he said. "The quality of life of our people will be on par with the best countries of the world. Most importantly, we will achieve all of this while caring for both nature and culture," he said. EY projects India's GDP to cross USD 5 trillion by 2028 to overtake both Japan and Germany. But the US economy is projected to still be nearly six times as large as the Indian economy. The prime minister said inflation is a key issue that the world faces. Also read | Modi sets the tone for UN Security Council reforms before hosting G20 leaders "Our G-20 Presidency engaged the G-20 Finance Ministers and Central Bank Governors. It was recognised that timely and clear communication of policy stances by Central Banks is crucial. This can ensure that policies taken by each country to combat inflation do not lead to negative repercussions in other countries," he said. The Organisation for Economic Co-operation and Development (OECD) has been targeting proposals to reduce incentives for tax planning and avoidance by limiting tax competition and changing where companies pay taxes. Also watch | India's G20 presidency: what to expect? × Pillar 1 of the OECD proposal expands a country's authority to tax profits from companies that make sales into their country but don't have a physical location there. "This convention will allow countries and jurisdictions to move forward with historic, major reform of the international tax system," Modi said. "As you can see, there is substantial progress across many issues. This is also a result of the confidence that other partner countries have shown in India's Presidency." In a recent report, Morgan Stanley called the nine years of Modi government transformational and listed bringing corporate tax at par with peers, infrastructure investment picking pace, rising collection of GST and the increasing share of digital transactions as a percentage of GDP as major initiatives. 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.

India will be developed nation by 2047, says PM Modi, hails last 'nine years of stability'

India's Prime Minister Narendra Modi, ahead of G-20 leaders' summit in New Delhi, called for reform of the United Nations to match the changing geo-economic realities of the world and ensure representation of voices that matter.

Modi's call resonates with South Africa's President Cyril Ramaphosa, who during last month's BRICS summit in Johannesburg called for reforms in the&nbsp;United Nations Security Council.

Also read |&nbsp;<a href="https://www.wionews.com/world/south-africas-president-ramaphosa-calls-for-unsc-reform-sets-pitch-for-brics-expansion-ahead-of-summit-627366">South Africa's President Ramaphosa calls for UNSC reform, sets pitch for BRICS expansion</a>

In an exclusive interview to the Press Trust of India, Modi said the G20 is one of the institutions that is being looked at with "hope" by many countries as the world is looking for actions and outcomes, "no matter where they come from."

India will host the annual summit of the influential grouping in New Delhi on September 9 and 10. 
 
"Today's world is a multipolar world where institutions are extremely important for a rules-based order that is fair and sensitive to all concerns. However, institutions can retain relevance only when they change with the times," the prime minister said. 
 
"A mid-20th century approach cannot serve the world in the 21st century. So, our international institutions need to recognise changing realities, expand their decision-making forums, relook at their priorities and ensure representation of voices that matter," he said. 
 
"When this is not done on time, then smaller or regional forums begin to attain more importance," Modi said in the 80-minute interview. 
 
"The G20 is certainly one of the institutions that is being looked at with hope by many countries. Because the world is looking for actions and outcomes, no matter where they come from,"&nbsp;PM Modi said while noting&nbsp;that India's presidency of the G-20 has come at such a juncture.

<h2>India a growth engine of the world: Modi</h2>

"In this context, India's position within the global framework becomes especially pertinent. As a diverse nation, the Mother of Democracy, the home to one of the world's largest populations of youth, and the growth engine of the world, India has a lot to contribute to the shaping of the future of the world," he said. 
 
"The G20 has provided a platform for India to further its human-centric vision and also collaboratively work towards innovative solutions to problems that are faced by humanity as a whole."

India has been pressing for reform of the United Nations, especially the UN Security Council.

Also read |&nbsp;India's G20 presidency: what to expect?

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New Delhi has been particularly upset over lack of any meaningful movement forward in the Intergovernmental Negotiations (IGN) on Security Council reform. India, along with Brazil, Germany and Japan is part of the G4 grouping that seeks reforms in the United Nations.

India is a strong contender for a permanent membership at the UN Security Council (UNSC). 
 
At present, the UNSC comprises five permanent members and 10 non-permanent member countries which are elected for a two-year term by the General Assembly of the UN. 
 
The five permanent members are Russia, the UK, China, France and the United States and these countries can veto any substantive resolution.

(With inputs from agencies) 
 
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India's Prime Minister Narendra Modi, ahead of G-20 leaders' summit in New Delhi, called for reform of the United Nations to match the changing geo-economic realities of the world and ensure representation of voices that matter.

India's Prime Minister Narendra Modi, ahead of G-20 leaders' summit in New Delhi, called for reform of the United Nations to match the changing geo-economic realities of the world and ensure representation of voices that matter. Modi's call resonates with South Africa's President Cyril Ramaphosa, who during last month's BRICS summit in Johannesburg called for reforms in the United Nations Security Council. Also read | South Africa's President Ramaphosa calls for UNSC reform, sets pitch for BRICS expansion In an exclusive interview to the Press Trust of India, Modi said the G20 is one of the institutions that is being looked at with "hope" by many countries as the world is looking for actions and outcomes, "no matter where they come from." India will host the annual summit of the influential grouping in New Delhi on September 9 and 10. "Today's world is a multipolar world where institutions are extremely important for a rules-based order that is fair and sensitive to all concerns. However, institutions can retain relevance only when they change with the times," the prime minister said. "A mid-20th century approach cannot serve the world in the 21st century. So, our international institutions need to recognise changing realities, expand their decision-making forums, relook at their priorities and ensure representation of voices that matter," he said. "When this is not done on time, then smaller or regional forums begin to attain more importance," Modi said in the 80-minute interview. "The G20 is certainly one of the institutions that is being looked at with hope by many countries. Because the world is looking for actions and outcomes, no matter where they come from," PM Modi said while noting that India's presidency of the G-20 has come at such a juncture. India a growth engine of the world: Modi "In this context, India's position within the global framework becomes especially pertinent. As a diverse nation, the Mother of Democracy, the home to one of the world's largest populations of youth, and the growth engine of the world, India has a lot to contribute to the shaping of the future of the world," he said. "The G20 has provided a platform for India to further its human-centric vision and also collaboratively work towards innovative solutions to problems that are faced by humanity as a whole." India has been pressing for reform of the United Nations, especially the UN Security Council. Also read | India's G20 presidency: what to expect? × New Delhi has been particularly upset over lack of any meaningful movement forward in the Intergovernmental Negotiations (IGN) on Security Council reform. India, along with Brazil, Germany and Japan is part of the G4 grouping that seeks reforms in the United Nations. India is a strong contender for a permanent membership at the UN Security Council (UNSC). At present, the UNSC comprises five permanent members and 10 non-permanent member countries which are elected for a two-year term by the General Assembly of the UN. The five permanent members are Russia, the UK, China, France and the United States and these countries can veto any substantive resolution. (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.

Indian PM Modi sets the tone for UN Security Council reforms before hosting G20 leaders

Congress leader Adhir Ranjan Chowdhury on Saturday declined the invitation to be part of the panel which was formed by the central government to examine the possibility of implementing the idea of 'One Nation, One Election'. This comes just hours after it was announced that he would be part of the eight-member panel headed by former President Ram Nath Kovind.

India: Adhir Ranjan Chowdhury declines to be part of panel on 'One Nation, One Election'

Discontent and unrest once again hit the region of Gilgit Baltistan in Pakistan as locals gathered in large numbers to protest against the Pakistani government and demanded the immediate release of their leaders. The locals also threatened the Pakistani government with "civil war" and said that they would "merge with India" if their demands were not.

Gilgit-Baltistan protest: Govt deploy army amid unrest

The 71st edition of the Miss World pageant, will be held in India's Kashmir. In an exclusive chat with WION's Zeba Khan, Karolina Bielawska, Julia Morley and Sini Shetty share how they are preparing for the big day.

Miss World 2023: Karolina Bielawska shares why India is the best country to host the 71st edition

UPI or unified payments interface payments system, India's digital payments platform, has now crossed the landmark of 10 billion transactions. The journey from zero to 10 billion transactions has been a fascinating one.

UPI crosses 10 billion transactions

A remarkable post-pandemic revival is underway in the tourism sector. Foreign tourist arrivals surged by 106 percent in just the first half of 2023, reflecting the nation's enduring allure for dreamers, explorers and soul searchers.

India back on the bucketlist of soul searchers

India's antitrust body has given the green light to the merger of two prominent players in the Indian airline industry—Air India and Vistara, both under the umbrella of the Tata group.

India's antitrust body gives nod to merger

In a surprise move, Canada on Friday unexpectedly paused talks on a proposed trade treaty with India, just three months after the two nations said they aimed to seal an initial agreement this year.

Canada pauses trade talks with India

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