Let's embark on an insightful journey through India's economic trajectory since 1991. This period stands as a testament to India's remarkable transition from adversity to eminence, carving its presence on the world map.

India's economic journey since 1991| World Business Watch Special

India got freedom on August 15, 1947, and it is set to celebrate its 77th Independence Day in 2023. This year may be considered the 76th anniversary of Indian Independence as the first anniversary was marked a year from the actual year that is 1948.

India's 77th Independence Day Celebrations: Indian PM addresses the Nation

"In the past few weeks, during the period of violence in the North East, especially in Manipur, many people lost their lives, and the honour of mothers and daughters suffered a lot, but in the last few days, there are reports of peace. The nation is with Manipur,” the Prime Minister said at the outset of his 10th consecutive address from the Red Fort.

Independence Day 2023: India with Manipur, peace returning in state: PM Modi

Heavy rains trigger landslides in Northern Indian states of Himachal Pradesh and Uttarakhand, schools to remain shut.

India: Heavy rains batter Himachal Pradesh, CM Sukhu visits disaster-hit Solan's Jadon | WION

In a switch from addressing the people of India as "my fellow citizens", Prime Minister Narendra Modi on Wednesday addressed the nation as his "family members" while speaking from the ramparts of the Red Fort on the 77th Independence Day.

Independence Day 2023 : ‘Working hard to fulfill every citizen's dreams': PM Modi

<p>In a groundbreaking development that marks a significant step towards enhancing bilateral economic ties, the Abu Dhabi National Oil Company (ADNOC) and the Indian Oil Corporation Limited (IOCL) completed the first-ever crude oil transaction under the newly implemented Local Currency Settlement (LCS) system.</p>

<p>The transaction involved the sale of approximately 1 million barrels of crude oil, with both Indian Rupees (INR) and UAE Dirhams (AED) being used for settlement. A statement from the Indian mission in UAE said, "LCS is likely to have a transformational impact not only on the bilateral economic relationship but in the larger economic engagements across the world."</p>

<p>Also Read | <a href="https://www.wionews.com/world/from-ew-to-yum-new-york-chef-promotes-eating-creepy-crawlies-as-sustainable-delicacies-625500">From 'ew' to 'yum': New York chef promotes eating creepy crawlies as sustainable delicacies</a></p>

<p>The LCS mechanism was established as a result of a Memorandum of Understanding (MoU) exchanged during Prime Minister Narendra Modi's visit to UAE last month on July 15. This agreement is expected to significantly reduce transaction costs and time, while also promoting the use of national currencies for cross-border transactions.</p>

<p>The LCS mechanism provides traders with the flexibility to choose the payment currency based on mutual agreement. Additionally, the surplus balance in local currencies resulting from transactions can be invested in various local currency assets such as corporate bonds, government securities, and equity markets. This innovative approach is set to have a transformative impact on not only the economic relationship between India and the UAE but also on broader economic engagements across the world.</p>

<p>Also Read | <a href="https://www.wionews.com/world/at-least-five-killed-seven-missing-after-migrant-boat-capsizes-off-tunisian-coast-625496">At least five killed, seven missing after migrant boat capsizes off Tunisian coast</a></p>

<p>While the oil transaction between ADNOC and IOCL is the second major exchange under the LCS, the first transaction involved&nbsp;gold. This earlier transaction involved the sale of 25 kg of gold from a prominent UAE gold exporter to a buyer in India, with the invoice totalling approximately Rs 12.84 crore. This successful gold transaction demonstrated the feasibility and efficiency of the LCS mechanism.</p>

<p><strong>WATCH | India: Chandrayaan-3 craft completes 30 days in space</strong></p>

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<p>Petroleum and petroleum products constitute a major portion of bilateral trade between the two nations. Last year alone, the trade in petroleum products amounted to a staggering US$ 35.10 billion, accounting for 41.4 per cent&nbsp;of the total bilateral trade volume. The UAE stands as the fourth-largest source of crude oil and the second-largest source of LNG and LPG for India.</p>

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In a groundbreaking development that marks a significant step towards enhancing bilateral economic ties, the Abu Dhabi National Oil Company (ADNOC) and the Indian Oil Corporation Limited (IOCL) completed the first-ever crude oil transaction under the newly implemented Local Currency Settlement (LCS) system.

In a groundbreaking development that marks a significant step towards enhancing bilateral economic ties, the Abu Dhabi National Oil Company (ADNOC) and the Indian Oil Corporation Limited (IOCL) completed the first-ever crude oil transaction under the newly implemented Local Currency Settlement (LCS) system. The transaction involved the sale of approximately 1 million barrels of crude oil, with both Indian Rupees (INR) and UAE Dirhams (AED) being used for settlement. A statement from the Indian mission in UAE said, "LCS is likely to have a transformational impact not only on the bilateral economic relationship but in the larger economic engagements across the world." Also Read | From 'ew' to 'yum': New York chef promotes eating creepy crawlies as sustainable delicacies The LCS mechanism was established as a result of a Memorandum of Understanding (MoU) exchanged during Prime Minister Narendra Modi's visit to UAE last month on July 15. This agreement is expected to significantly reduce transaction costs and time, while also promoting the use of national currencies for cross-border transactions. The LCS mechanism provides traders with the flexibility to choose the payment currency based on mutual agreement. Additionally, the surplus balance in local currencies resulting from transactions can be invested in various local currency assets such as corporate bonds, government securities, and equity markets. This innovative approach is set to have a transformative impact on not only the economic relationship between India and the UAE but also on broader economic engagements across the world. Also Read | At least five killed, seven missing after migrant boat capsizes off Tunisian coast While the oil transaction between ADNOC and IOCL is the second major exchange under the LCS, the first transaction involved gold. This earlier transaction involved the sale of 25 kg of gold from a prominent UAE gold exporter to a buyer in India, with the invoice totalling approximately Rs 12.84 crore. This successful gold transaction demonstrated the feasibility and efficiency of the LCS mechanism. WATCH | India: Chandrayaan-3 craft completes 30 days in space × Petroleum and petroleum products constitute a major portion of bilateral trade between the two nations. Last year alone, the trade in petroleum products amounted to a staggering US$ 35.10 billion, accounting for 41.4 per cent of the total bilateral trade volume. The UAE stands as the fourth-largest source of crude oil and the second-largest source of LNG and LPG for India. 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. ×

Historic first: India and UAE settle crude oil transaction using national currencies

In his speech on 77th Independence Day, Indian PM Modi said "The world is technology-driven, and with its talent in technology, India will have a new role and impact on the global stage."

Independence Day 2023 | India would play important role in upcoming technology driven world: PM Modi

On India's 77th Independence Day, we celebrate how Indian food has gone global, some iconic Indian restaurants that have existed since pre-independence and how some sweet shops in old Delhi were linked to independence in interesting ways.

Flavours of freedom | Independence Day Special 2023

In his speech on 77th Independence Day, Indian PM Modi said that the world is facing inflation but India made all efforts to control inflation. "The world has still not recovered from Corona. The war gave rise to another crisis. Today, the world is facing the crisis of inflation.

Independence Day 2023: ‘Have to fight 3 evils of corruption, nepotism, appeasement’: Indian PM Modi

Independence Day 2023: India now identified as a ‘Vishwamitra’, says PM Modi

<p>A segment of the Kalka-Shimla railway track, situated between Joyogh and Summer Hill railway station&nbsp;in the Indian state of Himachal Pradesh, was left suspended in mid-air due to a landslide, induced by heavy rains.&nbsp;The soil beneath the track was eroded away by the force of the landslide, causing disruption and raising safety concerns.</p>

<p>Consequently, train services between Kandaghat and Shimla have been cancelled, with the state government&nbsp;informing the public of the situation.</p>

<p>A photograph of the critical site was shared on X (previously known as Twitter) by ANI, capturing the precarious state of the railway track.</p>

<p><strong>Watch the video here:</strong></p>

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<p dir="ltr" lang="en"><a href="https://twitter.com/hashtag/WATCH?src=hash&amp;ref_src=twsrc%5Etfw">#WATCH</a> | Soil underneath Kalka-Shimla railway line washed away following heavy rainfall in the area<a href="https://twitter.com/hashtag/HimachalPradesh?src=hash&amp;ref_src=twsrc%5Etfw">#HimachalPradesh</a> <a href="https://t.co/0UHvMDcnRw">pic.twitter.com/0UHvMDcnRw</a></p>
— ANI (@ANI) <a href="https://twitter.com/ANI/status/1691303537987493888?ref_src=twsrc%5Etfw">August 15, 2023</a></blockquote>
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<h2><strong>Temple collapse and lives lost</strong></h2>

<p>Earlier on Monday (August 14), Shimla experienced another calamity as a temple collapsed, the result of a landslide triggered by unceasing rains.</p>

<p>This tragic incident led to the loss of nine lives, and fears of additional casualties rose as several people were believed to be trapped beneath the debris.</p>

<p>The relentless rainfall has taken a severe toll on Himachal Pradesh, with a total of 29 lives lost in rain-related incidents across the state. Chief Minister Sukhvinder Singh Sukhu expressed the gravity of the situation, attributing the tragedies to the continuous downpour over the preceding 48 hours.</p>

<p><strong>Also read |&nbsp;</strong><a href="https://www.wionews.com/india-news/india-supreme-court-denies-bail-to-three-convicts-in-2002-godhra-train-burning-625615">India: Supreme Court denies bail to three convicts in 2002 Godhra train burning case</a></p>

<h2><strong>Rescue efforts and caution amidst desolation</strong></h2>

<p>Chief Minister Sukhu, accompanied by Governor Shiv Pratap Shukla, conducted thorough inspections of various landslide-affected areas within Shimla.</p>

<p>Recognising the severity of the situation, the state government took the decision to refrain from organising cultural programmes&nbsp;on Independence Day, instead focusing efforts on rescue and relief operations.</p>

<p>Over 50 lives have been claimed by the relentless rains in the past 24 hours, with more than 20 people still trapped, and the death toll possibly escalating further as rescue operations continue.</p>

<p><strong>Also watch |&nbsp;India: Heavy rains batter Himachal Pradesh, CM Sukhu visits disaster-hit Solan's Jadon</strong></p>

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<p>The grim consequences of the ongoing natural disasters extended beyond Shimla, with more than a dozen individuals losing their lives. Tragedies unfolded in different districts, including seven fatalities in Solan district and an additional seven in Mandi district. The scale of devastation highlights the broad impact of the weather-related crises.</p>

<p>Union Minister of Home Affairs, Amit Shah, expressed condolences to the bereaved families through X. He conveyed the distress caused by the loss of lives due to heavy rains and landslides across various locations in Himachal Pradesh. Shah emphasised the involvement of NDRF teams in relief and rescue operations, collaborating closely with local administrations to mitigate the suffering caused by the devastating natural events.</p>

<p>(With inputs from agencies)</p>

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A segment of the Kalka-Shimla railway track, situated between Joyogh and Summer Hill railway station in the Indian state of Himachal Pradesh, was left suspended in mid-air due to a landslide, induced by heavy rains.

A segment of the Kalka-Shimla railway track, situated between Joyogh and Summer Hill railway station in the Indian state of Himachal Pradesh, was left suspended in mid-air due to a landslide, induced by heavy rains. The soil beneath the track was eroded away by the force of the landslide, causing disruption and raising safety concerns. Consequently, train services between Kandaghat and Shimla have been cancelled, with the state government informing the public of the situation. A photograph of the critical site was shared on X (previously known as Twitter) by ANI, capturing the precarious state of the railway track. Watch the video here: #WATCH | Soil underneath Kalka-Shimla railway line washed away following heavy rainfall in the area#HimachalPradesh pic.twitter.com/0UHvMDcnRw — ANI (@ANI) August 15, 2023 × Temple collapse and lives lost Earlier on Monday (August 14), Shimla experienced another calamity as a temple collapsed, the result of a landslide triggered by unceasing rains. This tragic incident led to the loss of nine lives, and fears of additional casualties rose as several people were believed to be trapped beneath the debris. The relentless rainfall has taken a severe toll on Himachal Pradesh, with a total of 29 lives lost in rain-related incidents across the state. Chief Minister Sukhvinder Singh Sukhu expressed the gravity of the situation, attributing the tragedies to the continuous downpour over the preceding 48 hours. Also read | India: Supreme Court denies bail to three convicts in 2002 Godhra train burning case Rescue efforts and caution amidst desolation Chief Minister Sukhu, accompanied by Governor Shiv Pratap Shukla, conducted thorough inspections of various landslide-affected areas within Shimla. Recognising the severity of the situation, the state government took the decision to refrain from organising cultural programmes on Independence Day, instead focusing efforts on rescue and relief operations. Over 50 lives have been claimed by the relentless rains in the past 24 hours, with more than 20 people still trapped, and the death toll possibly escalating further as rescue operations continue. Also watch | India: Heavy rains batter Himachal Pradesh, CM Sukhu visits disaster-hit Solan's Jadon The grim consequences of the ongoing natural disasters extended beyond Shimla, with more than a dozen individuals losing their lives. Tragedies unfolded in different districts, including seven fatalities in Solan district and an additional seven in Mandi district. The scale of devastation highlights the broad impact of the weather-related crises. Union Minister of Home Affairs, Amit Shah, expressed condolences to the bereaved families through X. He conveyed the distress caused by the loss of lives due to heavy rains and landslides across various locations in Himachal Pradesh. Shah emphasised the involvement of NDRF teams in relief and rescue operations, collaborating closely with local administrations to mitigate the suffering caused by the devastating natural events. (With inputs from agencies) WATCH WION LIVE HERE:

Watch | Heavy rains leave part of Kalka-Shimla railway track hanging after landslide erodes ground beneath

Independence Day 2023: Indian PM addresses nation, says, India will become 3rd largest economy soon’

Indian Prime Minister Narendra Modi is leading the 77th Independence Day celebrations today, August 15, Tuesday. After hoisting the national flag from the Red Fort in Delhi, he is delivering 10th consecutive Independence Day speech at 7.30 am today. Around 1,800 people from various walks of life have been invited to the Independence Day celebrations at the Red Fort today.

Independence Day 2023 LIVE: PM Modi says, 'The whole nation is with people of Manipur'

Indian Prime Minister Narendra Modi is all set to lead the 77th Independence Day celebrations today, August 15, Tuesday. After hoisting the national flag from the Red Fort in Delhi, he will deliver his 10th consecutive Independence Day speech at 7.30 am today. Around 1,800 people from various walks of life have been invited to the Independence Day celebrations at the Red Fort today.

Independence Day 2023: Indian PM addresses the nation, says ‘Modi reform, perform, transform’

<p>A journalist from Chennai&nbsp;took to X (formerly Twitter) to recount a disconcerting experience he had after watching the film <em>Oppenheimer</em> at a PVR cinema in Chennai. He shared a photo of his arm covered in bug bites, displaying red patches caused by the apparent insect bite during his movie outing.</p>

<p>The journalist had chosen to watch the movie at the PVR cinema situated in Chennai's VR Mall. He accompanied his photo with the caption, "Watched #Oppenheimer @_PVRCinemas VR Mall #Chennai and this is the return gift #Bugs #PVR." His post rapidly gained traction, spreading across online platforms and capturing the attention of PVR Cinemas.</p>

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<p dir="ltr" lang="en">Watched <a href="https://twitter.com/hashtag/Oppenheimer?src=hash&amp;ref_src=twsrc%5Etfw">#Oppenheimer</a> <a href="https://twitter.com/_PVRCinemas?ref_src=twsrc%5Etfw">@_PVRCinemas</a> VR Mall <a href="https://twitter.com/hashtag/Chennai?src=hash&amp;ref_src=twsrc%5Etfw">#Chennai</a> and this is the return gift <a href="https://twitter.com/hashtag/Bugs?src=hash&amp;ref_src=twsrc%5Etfw">#Bugs</a> <a href="https://twitter.com/hashtag/PVR?src=hash&amp;ref_src=twsrc%5Etfw">#PVR</a> <a href="https://t.co/I7ddqoEtX5">pic.twitter.com/I7ddqoEtX5</a></p>
— Vijay Kumar S (@vijaythehindu) <a href="https://twitter.com/vijaythehindu/status/1690420949878034432?ref_src=twsrc%5Etfw">August 12, 2023</a></blockquote>
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<h2><strong>PVR's response: Third-party audit and denial of issues</strong></h2>

<p>In response to the journalist's concerns, PVR Cinemas issued a detailed statement. The cinema chain stated, "Thanks for reaching out to us. The moment we received your concern, an extensive check was done yesterday, and we didn't find any issues related to insects and bed bugs. Please note that we have got a third-party audit done in the cinema to ensure everything is intact."</p>

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<p dir="ltr" lang="en">Thanks for reaching out to us. The moment we received your concern, an extensive check was done yesterday, and we didn't find any issues related to insects and bed bugs. Please note that we have got a third-party audit done in the cinema to ensure everything is intact -(1/3)</p>
— P V R C i n e m a s (@_PVRCinemas) <a href="https://twitter.com/_PVRCinemas/status/1690738080486203392?ref_src=twsrc%5Etfw">August 13, 2023</a></blockquote>
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<p dir="ltr" lang="en">and as per PVR's standards and as per the report our audi was insect and beg bug free. This may have been an allergic reaction or you may have got it from some other infested place. -(2/3)</p>
— P V R C i n e m a s (@_PVRCinemas) <a href="https://twitter.com/_PVRCinemas/status/1690738838334021632?ref_src=twsrc%5Etfw">August 13, 2023</a></blockquote>
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<p><strong>Also read |</strong>&nbsp;<a href="https://www.wionews.com/india-news/who-was-bindeshwar-pathak-the-man-behind-indias-toilet-building-revolution-dies-at-80-625718">Who was Bindeshwar Pathak? The man behind India’s toilet-building revolution dies at 80</a></p>

<p>The statement asserted that the cinema hall met PVR's standards and passed the third-party audit for insect and bed bug infestations. PVR suggested that the journalist's condition could be attributed to an allergic reaction or exposure to infested surroundings elsewhere.</p>

<p>The image of the journalist's bug-bitten arm triggered a wave of reactions&nbsp;among social media users.</p>

<p>They flooded the comments section with their thoughts and personal encounters. One user expressed surprise and concern, asking if the journalist endured the entire movie with the discomfort. Another recounted their own unfavourable experience, noting a delayed movie start and shared dissatisfaction.</p>

<p><strong>PVR's History of Controversy: Past Incidents Sparking Discontent</strong></p>

<p>This isn't the first time PVR Cinemas has faced criticism. In a previous incident back in July, another journalist highlighted the exorbitant prices of regular popcorn and a Pepsi at a PVR cinema in Mall of India, Noida. The high bill, amounting to Rs 820 ($9.84)&nbsp;was compared to the cost of an annual subscription to Amazon Prime Video.</p>

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<p><iframe allowfullscreen="" autoplay="1" class="includeVideo" frameborder="0" height="350" src="https://www.wionews.com/live-tv/embed" style="width:100%;max-width:560px;" width="560"></iframe></p>


A journalist from Chennai took to X (formerly Twitter) to recount a disconcerting experience he had after watching the film Oppenheimer at a PVR cinema in Chennai.

A journalist from Chennai took to X (formerly Twitter) to recount a disconcerting experience he had after watching the film Oppenheimer at a PVR cinema in Chennai. He shared a photo of his arm covered in bug bites, displaying red patches caused by the apparent insect bite during his movie outing. The journalist had chosen to watch the movie at the PVR cinema situated in Chennai's VR Mall. He accompanied his photo with the caption, "Watched #Oppenheimer @_PVRCinemas VR Mall #Chennai and this is the return gift #Bugs #PVR." His post rapidly gained traction, spreading across online platforms and capturing the attention of PVR Cinemas. Watched #Oppenheimer @_PVRCinemas VR Mall #Chennai and this is the return gift #Bugs #PVR pic.twitter.com/I7ddqoEtX5 — Vijay Kumar S (@vijaythehindu) August 12, 2023 × PVR's response: Third-party audit and denial of issues In response to the journalist's concerns, PVR Cinemas issued a detailed statement. The cinema chain stated, "Thanks for reaching out to us. The moment we received your concern, an extensive check was done yesterday, and we didn't find any issues related to insects and bed bugs. Please note that we have got a third-party audit done in the cinema to ensure everything is intact." Thanks for reaching out to us. The moment we received your concern, an extensive check was done yesterday, and we didn't find any issues related to insects and bed bugs. Please note that we have got a third-party audit done in the cinema to ensure everything is intact -(1/3) — P V R C i n e m a s (@_PVRCinemas) August 13, 2023 × and as per PVR's standards and as per the report our audi was insect and beg bug free. This may have been an allergic reaction or you may have got it from some other infested place. -(2/3) — P V R C i n e m a s (@_PVRCinemas) August 13, 2023 × Also read | Who was Bindeshwar Pathak? The man behind India’s toilet-building revolution dies at 80 The statement asserted that the cinema hall met PVR's standards and passed the third-party audit for insect and bed bug infestations. PVR suggested that the journalist's condition could be attributed to an allergic reaction or exposure to infested surroundings elsewhere. The image of the journalist's bug-bitten arm triggered a wave of reactions among social media users. They flooded the comments section with their thoughts and personal encounters. One user expressed surprise and concern, asking if the journalist endured the entire movie with the discomfort. Another recounted their own unfavourable experience, noting a delayed movie start and shared dissatisfaction. PVR's History of Controversy: Past Incidents Sparking Discontent This isn't the first time PVR Cinemas has faced criticism. In a previous incident back in July, another journalist highlighted the exorbitant prices of regular popcorn and a Pepsi at a PVR cinema in Mall of India, Noida. The high bill, amounting to Rs 820 ($9.84) was compared to the cost of an annual subscription to Amazon Prime Video. WATCH WION LIVE HERE:

'Bugged out' movie experience: Indian man bitten by insects at theatre, shares startling photo

Line of Control (Naugam Sector, JK), Aug 15 (PTI) Members of the Border Security Force (BSF) observed Independence Day on Tuesday in this isolated location close to the Line of Control in the Kupwara region of Jammu and Kashmir. The battalion's commanding officer raised the national flag as the jawans sang nationalistic anthems to celebrate the 77th anniversary of the nation's independence.

Jammu and Kashmir: BSF soldiers celebrate independence day in high spirits | India

"Today India is becoming the voice of the global south. India's prosperity and heritage have become an opportunity for the world," he said. In his 10th consecutive Independence Day speech, the Prime Minister said, “Global experts saying India will not stop now, all rating agencies are lauding country.

Independence Day 2023 | PM Modi: India stands with Manipur, peace is slowly returning to the region

On Sunday, the Chandrayaan-3 spacecraft successfully inserted itself into the lunar orbit. Between August 23 and 24, the mission will safely land close to the Moon's under-explored south pole. The Chandrayaan-3 spacecraft has been being propelled by ISRO into ever-distancer orbits since its launch on July 14.

India: Chandrayaan-3 craft completes 30 days in space

As India celebrates its 77th independence Day. The Indian Space Research Organisation (ISRO) celebrates its 54th founding day. The ISRO has taken the dreams of Indians into space and the Indian flag to the moon and the Mars.

ISRO Foundation Day: ISRO formally established on 15th August 1969 | India News | WION

On August 15, India will commemorate its 77th anniversary of Independence. From the Red Fort's ramparts, Prime Minister Narendra Modi will raise the national flag and address the crowd. It will be Prime Minister Modi's tenth speech to the nation in a row. His lecture is scheduled to start about 7:30 AM.

India: Prime Minister Narendra Modi to address the nation on August 15 to mark 77th Independence Day

India is set to celebrate the 76th anniversary of its independence on 15th August. And Srinagar is not far behind, as vibrant preparations are underway at the historical Lal chowk, which has been decked up with the national flag.

India: Hundreds participate in flag march showing changed Kashmir

India commemorates the atrocities of the Partition on August 14. It is an homage to the millions of people who endured the social unrest and bloodshed that followed the British departure.

August 14: Partiton Horrors | How India fed, clothed, housed and resettled millions of migrants

Southern Indian state of Kerala wants to change its name to Keralam. Chief Minister Pinarayi Vijayan introduced a resolution for this in the Kerala Assembly. It requests the central government to officially rename Kerala to 'Keralam,' which is the accepted usage in the state's language Malayalam.

India | Kerala seeks to change its name: Kerala vs Keralam, what do people want?

India's economic metamorphosis: Reforms and triumphs

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