India's Agni long-range missiles broke UN limits, says China

January 5, 2017

Beijing, Jan 5,: India has "broken" UN limits on nuclear arms and long-range missiles and Pakistan should also be accorded the same "privilege", state-run Chinese media said today as it criticised New Delhi for carrying out Agni-4 and 5 missile tests whose range covers the Chinese mainland.

agni

"India has broken the UN's limits on its development of nuclear weapons and long-range ballistic missile," the ruling Communist Party-run tabloid Global Times said in its editorial.

"The US and some Western countries have also bent the rules on its nuclear plans. New Delhi is no longer satisfied with its nuclear capability and is seeking intercontinental ballistic missiles that can target anywhere in the world and then it can land on an equal footing with the UN Security Council's five permanent members," it said.

"India is 'promising' in vying for permanent membership on the UN Security Council as it is the sole candidate who has both nuclear capability and economic potential," it said.

"China should realise that Beijing wouldn't hold back India's development of long-range ballistic missiles," it said apparently highlighting China's limitations in restricting India developing a nuclear and missile deterrence against Chinese military power.

Agni-5, a 5,000-km range intercontinental ballistic missile (ICBM), is widely regarded as a strategic missile targeted at China as it can reach almost all parts of the Chinese mainland.

The editorial said that "Chinese don't feel India's development has posed any big threat to it".

The daily known for its sabre-rattling rhetoric said "India wouldn't be considered as China's main rival in the long run" due to vast disparity of in power between the two countries.

But at the same time it suggested that the "best choice for Beijing and New Delhi is to build rapport".

However, while accusing India of violating limits imposed by UN on nuclear and long range missile development, "if the Western countries accept India as a nuclear country and are indifferent to the nuclear race between India and Pakistan, China will not stand out and stick rigidly to those nuclear rules as necessary", it said.

"At this time, Pakistan should have those privileges in nuclear development that India has," it said, indicating that China which shared an all-weather ties with Islamabad will back it if it develops long-range missiles.

"In general, it is not difficult for India to produce intercontinental ballistic missiles which can cover the whole world. If the UN Security Council has no objection over this, let it be. The range of Pakistan's nuclear missiles will also see an increase. If the world can adapt to these, China should too," it said.

The references to violation of UN rules by the daily were significant as the Chinese Foreign Ministry spokesperson Hua Chunying while reacting to India's Agni-5 missile test said on December 27 that"on whether India can develop this ballistic missile that can carry nuclear weapons, I think relevant resolutions of the UNSC have clear rules".

Comments

Rikaz
 - 
Thursday, 5 Jan 2017

Good, China is scared of us.....

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 17,2020

New Delhi, Jun 17: With an increase of 10,974 new cases and 2,003 deaths in the last 24 hours, India's COVID-19 count reached 3,54,065 on Wednesday while the toll due to the virus stands at 11,903.

This includes 1,55,227 active cases and 1,86,935 cured, discharged and migrated patients, according to the Union Health Ministry.

While the spike in the number of cases has stayed below the 11-thousand mark, the death toll has increased manifold today as compared to the 380 death reported on Tuesday.

Maharashtra with 1,13,445 cases continues to be the worst-affected state in the country with 50,057 active cases while 57,851 patients have been cured and discharged in the state so far. The toll due to COVID-19 has crossed the five thousand mark and reached 5,537 in the state.

It is followed by Tamil Nadu with 48,019 and the national capital with 44,688 confirmed cases.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 16,2020

New Delhi, Mar 16: A total of 110 cases of coronavirus, including 17 foreign nationals have been confirmed across India, Union Ministry of Health and Family Welfare said on Sunday.

The maximum positive cases have been reported from Maharashtra (32), followed by Kerala (22).

The total number of passengers screened at airports is 12,76,046, the ministry said.

The World Health Organisation (WHO) has declared that Europe has become the new 'epicentre' of the coronavirus pandemic that has infected more than 15 lakh people with over 6,000 deaths globally.

The virus had first emerged in China's Wuhan city in December last year.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
May 4,2020

Munbai/New Delhi, May 4: India expects bad debts at its banks could double after the coronavirus crisis brought the economy to a sudden halt, a senior government official and four top bankers said.

Indian banks are already grappling with 9.35 trillion rupees ($123 billion) of soured loans, which was equivalent to about 9.1% of their total assets at the end of September 2019.

"There is a considered view in the government that bank non-performing assets (NPAs) could double to 18-20% by the end of the fiscal year, as 20-25% of outstanding loans face a risk of default," the official with direct knowledge of the matter said.

A fresh surge in bad debt could hit credit growth and delay India's recovery from the coronavirus pandemic.

"These are unprecedented times and the way it's going we can expect banks to report double the amount of NPAs from what we've seen in earlier quarters," the finance head of a top public sector bank told Reuters.

The official and bankers declined to be named as they were not officially authorized to discuss the matter with media.

India's finance ministry declined to comment, while the Reserve Bank of India and Indian Banks' Association, the main industry body, did not immediately respond to emails seeking comment.

The Indian economy has ground to a standstill amid a 40-day nationwide lockdown to rein in the spread of coronavirus cases.

The lockdown has now been extended by a further two weeks, but the government has begun to ease some restrictions in districts that are relatively unscathed by the virus.

India has so far recorded nearly 40,000 cases of the coronavirus and more than 1,300 deaths from COVID-19, the respiratory disease caused by the coronavirus.

'RIDING THE TIGER'

Bankers fear it is unlikely that the economy will fully open up before June or July, and loans, especially those to small- and medium-sized businesses which constitute nearly 20% of overall credit, may be among the worst affected.

This is because all 10 of India's largest cities fall in high-risk red zones, where restrictions will remain stringent.

A report by Axis Bank said that these red zones, which contribute significantly to India's economy, account for roughly 83% of the overall loans made by its banks as of December.

One of the sources, an executive director of a public sector bank, said that economic growth had been sluggish and risks had been heightened, even ahead of the coronavirus crisis.

"Now we have this Black Swan event which means without any meaningful government stimulus, the economy will be in tatters for several more quarters," he said.

McKinsey & Co last month forecast India's economy could contract by around 20% in the three months through June, if the lockdown was extended to mid-May, and growth in the fiscal year was likely to fall 2% to 3%.

Bankers say the only way to stem the steep rise in bad loans is if the RBI significantly relaxes bad asset recognition rules.

Banks have asked the central bank to allow all loans to be categorized as NPAs only after 180 days, which is double the current 90-day window.

"The lockdown is like riding the tiger, once we get off it we'll be in a difficult position," a senior private sector banker said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.