Iran nuclear deal to energize New Delhi’s ties with Tehran

July 15, 2015

New Delhi, Jul 15: Anticipating an end to sanctions against Iran, India, which had reduced its oil imports from Tehran under western pressure, stepped up its oil imports from the Gulf nation from April this year, upping it by over 50% from the same period last year.

nuclear deal

It was an early signal to Tehran that while India resisted the sanctions, it plans to enter Iran in a big way. Welcoming the deal, the foreign ministry said, "India's always maintained the issue should be resolved peacefully through dialogue by respecting Iran's right to peaceful uses of nuclear energy ... international community's interest in the exclusively peaceful nature of Iran's nuclear programme."

US secretary of state John Kerry said the deal "shuts off four principal pathways to a bomb for Iran" — the uranium facilities at Natanz and Fordow, Arak plutonium facility and covert attempts to produce fi ssile material. The deal's rewritten rules of geopolitics in West Asia and the Gulf.

India will have to be more nimble to be a genuine player. Whatever its Arab neighbours may say, Iran will emerge as the region's dominant power now.

Reports suggest the sanctions relief could allow Iran to bring home over $100 billion in oil revenues. India's held a delicate balance on Iran as the West, particularly US, turned the screws on Tehran over its nuclear programme. India voted against Iran in the IAEA many times but opposed non-UN sanctions, though that complicated its payment system for Iranian oil.

Iran was a big stick the US used to beat India with. During negotiations on India's nuclear deal with the US, Iran even found mention in the deal's fi nal text. The view from New Delhi, therefore, is wholly welcoming. "It is ultimately in India's interest," said an official source.

From early this year, India's stepped up its highlevel engagement — NSA Ajit Doval visited Tehran, followed by union minister Nitin Gadkari and then foreign secretary S Jaishankar. Last week, PM Modi held his first meeting with Iran's President Rouhani in Ufa, on the SCO summit's sidelines. Foreign minister Sushma Swaraj had announced she'd be travelling to Iran.

This could be a precursor to a summit-level interaction.

The Chabahar port, India's showpiece connectivity project in Iran, formed a significant part of Modi's conversation with Rouhani last week. Iran can now be part of the Afghanistan stabilization story. In the past decade, Tehran has, on occasion, flirted with the Taliban, citing common enemy US. The US is no longer enemy but Islamic State is the new common enemy, also for the Taliban.

As the frontline state that's battling the Islamic State (ISIS), it's not difficult to see where New Delhi, and Washington, will engage Tehran. But India's return to Iran won't be easy.

First, though former PM Manmohan Singh travelled there for a NAM summit in 2012, in reality engagement with Iran came down while India enhanced ties with Iran's rivals Saudi Arabia and Israel. Having balanced Iran and US all these years, New Delhi will now balance its relations with Tehran and Tel Aviv, and Tehran and Riyadh. Second, China's a bigger player; Beijing's pushed a high-speed rail project from Tehran to Isfahan and development of the Chabahar port on a scale and speed India will fi nd impossible to match. Third, India has way fewer citizens working in Iran than it does in the Gulf emirates and Saudi Arabia.

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News Network
April 14,2020

New Delhi, Apr 14: With 1,211 fresh cases of coronavirus reported in the last 24 hours, the total number of confirmed cases of COVID-19 in the country has reached 10,363 including 339 deaths, said Lav Aggarwal, Joint Secretary, Health and Family Welfare, here on Tuesday.

As many as 1,036 people have recovered from the disease so far, said Aggarwal during the daily media briefing on the coronavirus. "In one day, 179 people were diagnosed and found cured," he added.

"A total of 10,363 confirmed cases have been reported in India including 339 deaths and 1,036 people, who were COVID-19 positive have recovered. Out of the total deaths, 31 deaths have been reported in the last 24 hours," said Aggarwal.

Aggarwal said that an evaluation of each district and city will be done till April 20.

"An evaluation of each district and city will be done till April 20 in which it will be evaluated what measures did that authorities take in these cities and districts to combat COVID-19," he said.

"Based on the results of this litmus test approach, permission will be granted for some selective activities to those districts and cities which controlled the situation effectively. Detailed guidelines will be issued soon," he added.

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News Network
February 9,2020

Mumbai, Feb 9: Given the slow progress on the ongoing Rs 38,000-crore capacity expansion at the four largest metro airports, and also the surging traffic, the snaky queues will continue at least till 2023, warns a report.

The four largest airports -- New Delhi, Mumbai, Bengaluru and Hyderabad -- handle more than half of the traffic and are operating at 130 per cent of their installed capacity. These airports are under a record Rs 38,000-crore capex but the capacity will not come up before end-2023, says a Crisil report.

“With the dip in traffic growth largely behind, we expect congestion at the top four airports of New Delhi, Mumbai, Bengaluru and Hyderabad, which handle more than half of the load, to continue till about FY23,” says the report.

Already these airports are operating at over 130 percent of installed capacity, and the ongoing healthy traffic growth this operating rate is expected to rise further in the next 12 months.

“Operationalising of capacities in the following two fiscals will bring down utilisation levels albeit still high at over 90 per cent by fiscal 2023 and that is despite an unprecedented Rs 38,000 crore capex being undertaken by the operators of these airports over five fiscals 2020-24,” says the report.

Despite this unprecedented capex that is debt-funded, ratings are likely to be stable given the strong cash flows expected due to healthy traffic growth, low project risks associated with the capex and improving regulatory environment, notes the report.

“Capacity at these four airports will increase a cumulative 65 per cent to 228 million annually (from 138 million now) by fiscal 2023. However, traffic is expected to grow strong at up to 10 per cent per annum over the same period. Since additional capacities will become operational in phases only by fiscal 2023, high passenger growth will add to congestion till then,” warn the report.

High utilisation will ride on pent-up demand (accumulated in 2019 as traffic was impacted with the grounding of Jet Airways) and one-off issues with new aircraft of certain airlines.

Further impetus will also come from improving connectivity to lower-tier cities and reducing fare difference between air and rail. Increasing footfalls at airports provide a leg-up to non-aero streams such as advertising, rentals, food and beverage and parking, which comprise around half of the revenue of airports already.

These are expected to grow strongly at over 10-12 per cent, also supported by higher monetisation avenue coming along with current capex. The other half of revenue (aero revenue) is an entitlement approved by the regulator, providing a pre-determined, fixed return over the asset base and a pass-through of costs.

Aero revenue is also expected to get a bump up during fiscals 2022-24, when a new tariff order for airports is likely. Overall aggregate cash flows are likely to double by fiscal 2024 and provide a healthy cushion against servicing of debt contracted for capex, the report concludes.

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News Network
March 3,2020

New Delhi, Mar 3: Delhi's Tihar Prison authorities had made all necessary preparations for the hanging of four convicts in the Nirbhaya gangrape-and-murder case which was scheduled for Tuesday, officials said Monday.

However, on Monday evening, a city court deferred the hanging till further orders.

Postponing the execution, Additional Sessions Judge Dharmender Rana said the hanging cannot be carried out pending disposal of Pawan Gupta's mercy plea before the President, observing any condemned convict must not meet his "Creator" with grievance against courts for not acting fairly on the opportunity to exhaust legal remedies.

"We had made all the necessary arrangements for the execution of the four convicts which was scheduled for Tuesday at 6 AM. Now, the execution has been postponed and we are waiting for the further order by the court," a senior jail official said.

The hanging of the four men -- Mukesh Kumar Singh (32), Vinay Kumar Sharma (26), Akshay Kumar Singh (31) and Pawan -- who are lodged in Tihar jail, was fixed for March 3 in Tihar jail on a court order.

"We had checked the ropes. Hangman was called and dummy executions were carried out," another senior jail official said.

Barring Pawan, the other three had in the previous weeks moved curative petitions and mercy pleas which were all dismissed.

The first date of execution -- January 22 -- fixed on January 7 was postponed by the court to February 1. But on January 31, the court indefinitely postponed the hanging. On February 17, the court again issued fresh date for execution of death warrants for March 3 at 6 AM.

The court in its orders observed that the four convicts cannot be hanged since a mercy plea of one or the other convict was pending.

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