Missing AirAsia plane may have crashed: Indonesia

Washington, Feb 18: The upcoming visit of President Donald Trump to India later this month has the potential to usher in a new era of bilateral ties between the two countries, a top American business advocacy group has said.

President Trump will pay a state visit to India on February 24 and 25 at the invitation of Prime Minister Narendra Modi. He would be accompanied by First Lady Melania Trump.

This would be the president's first bilateral visit in the third decade of the 21st century and also the first after his acquittal by the Senate in the impeachment trial.

"I believe President Trump's upcoming visit to India has the potential to usher in a new era of our bilateral ties," Mukesh Aghi, President of the US India Strategic and Partnership Forum (USISPF) said in a statement on Monday.

On the sidelines of the visit, the USISPF, in collaboration with the Federation of Indian Chambers of Commerce and Industry (FICCI) and the ORF, has announced to organise a program entitled "US-India Forum: Partners for Growth".

The full-day discussion will focus on the key pillars defining India and the US' strategic, economic, and cultural partnership over the next decade.

"We have an opportunity before us to make real progress on multiple aspects of the relationship— whether it is upholding peace and security in the Indo-Pacific region; building upon an already strong energy partnership; developing co-production and co-development opportunities in the defense space; or strengthening bilateral trade," Aghi said.

"We look forward to an extremely successful visit and some concrete outcomes from the visit," he said.

The day-long programme on February 25 in New Delhi, will bring together over 500 senior business executives, members of the US-India think tank community and leading figures of the Indian diaspora to set the agenda for this strategic partnership.

Discussions during the day will touch upon areas, including the Indo-Pacific Strategy and Maritime Security; the US-India Defence Partnership, the US-India Energy Partnership, Elevating US-India Trade and Investment and Role of the Indian Diaspora in US-India Relations.

Washington, Feb 1: The Indian economy experienced some abrupt slowdown in 2019 due to turbulence in non-banking financial institutions and major reform measures such as GST and demonetisation, but it is not in a recession, IMF Managing Director Kristalina Georgieva has said.

"The Indian economy indeed has experienced an abrupt slowdown in 2019. We had to revise our growth projections, downwards to four percent for last year. We are expecting 5.8 per cent (growth rate) in 2020 and then an upward trajectory to 6.5 percent in 2021," Georgieva told a group of foreign journalists here on Friday.

"It appears that the main reason for this slowdown was the non-banking financial institutions experiencing a turbulence," she said on the eve of Union Finance Minister Nirmala Sitharaman presenting the annual budget in Parliament on Saturday.

She said India had undertaken some important reforms that over the longer term would be beneficial for the country, but they do have some short-term impact.

"For example, coming with the unified tax system, and the demonetisation that took place. These are steps that over time are beneficial, but of course they might, might be somewhat disruptive over short term," Georgieva said in response to a question.

The International Monetary Fund (IMF) Managing Director said that there is not a lot of fiscal space in India. “But we also recognise that the policies of the government on that side, on the fiscal side have been prudent. We will see how the reading of the budget, the submission of the budget goes, tomorrow,” she said.

In the medium-term, she said, the IMF remains optimistic about India. “This is why we see that upswing potential for the growth in the country,” she said.

Georgieva said that the current economic slowdown cannot be described as a recession. "No.... You're far from that. But it is a significant slowdown, not the recession," she said.

The IMF managing Director noted that the consumption in India also slowed down and that contributed to the overall slowdown in the economy. The IMF would be keen to see what India does to get relatively sound macroeconomic fundamentals to pay off in terms of better growth trajectory, she said ahead of the budget.

One thing that is important for India is that budgetary revenue have been below target. "The country knows that. The finance minister knows it. They need to increase budgetary revenue collection so they can improve their fiscal position. I said it's tight on the spending side, but I also want to stress that there is room to improve collection on the revenue side," she said.

Washington, Jan 10: It is “highly likely” that Iran shot down the civilian Ukrainian jetliner that crashed near Tehran late Tuesday, killing all 176 people on board, U.S., Canadian and British officials declared Thursday.

They said the fiery missile strike could well have been a mistake amid rocket launches and high tension throughout the region.

The crash came just a few hours after Iran launched a ballistic attack against Iraqi military bases housing U.S. troops in its violent confrontation with Washington over the U.S. drone strike that killed an Iranian Revolutionary Guard general. The airliner could have been mistaken for a threat, said four U.S. officials, speaking on condition of anonymity to discuss sensitive intelligence.

Canadian prime minister Justin Trudeau, whose country lost at least 63 citizens in the downing, said in Toronto: “We have intelligence from multiple sources including our allies and our own intelligence. The evidence indicates that the plane was shot down by an Iranian surface-to-air missile.”

Likewise, U.K. prime Minister Boris Johnson and Australian prime minister Scott Morrison offered similar statements. Morrison also said it appeared to be a mistake. “All of the intelligence as presented to us today does not suggest an intentional act,” he said.

The assessment that 176 people were killed as collateral damage in the Iranian-U.S. conflict cast a new pall over what had at first appeared to be a relatively calm aftermath following the U.S. military operation that killed Iranian Gen. Qassem Soleimani.

At the White House, U.S. president Donald Trump suggested he believed Iran was responsible for the shootdown and dismissed Iran's initial claim that it was a mechanical issue with the plane.

“Somebody could have made a mistake on the other side.” Trump said, noting the plane was flying in a “pretty rough neighborhood."