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PM Modi arrives in Kabul

December 25, 2015

Kabul, Dec 25: Prime Minister Narendra Modi today arrived here on a visit during which he is expected to hold talks with Afghan leadership, including President Ashraf Ghani, and inaugurate the Parliament building which has been constructed by India at a cost of USD 90 million.

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Modi who flew in the wee hours from Moscow, where he had annual summit talks with Russian President Vladimir Putin, was received by Afghan National Security Adviser Mohammad Hanif Atmar and deputy Foreign minister Hekmat Karzai.

"From Russia to Afghanistan. A pre-dawn arrival in Kabul begins a day of engagements with another dost," External Affairs Ministry Spokesperson Vikas Swarup tweeted.

On his arrival Modi said, "delighted to be in Kabul among friends. Will meet Ashraf Ghani, Chief Executive Officer (CEO) Abdullah Abdullah and former President Hamid Karzai".

Modi will be holding talks with Afghan leaders on key bilateral issues, including security co-operation and discuss the ways to help war-torn country where India has committed over two billion assistance.

The Prime Minister will also be inaugurating the Parliament building and expected to address the Afghan lawmakers.

The Parliament building project, which was initially conceived at a cost of USD 45 million, was started by India in 2007 as a mark of friendship and cooperation to help rebuild Afghanistan.

Significantly, prior to the Prime Minister's visit, India has delivered three Mi 25 attack helicopters to Afghanistan, in what is seen as a shift in its strategy towards the strife-torn country.

Defence sources said that three such choppers have already been delivered to the Afghan government, which will boost its capability against Taliban terrorists.

The Parliament building project, which was initially conceived at a cost of USD 45 million, was started by India in 2007 as a mark of friendship and cooperation to help rebuild Afghanistan.

Situated between historic landmarks King's Palace "Darulaman" and the Queen's Palace - the building has elements of Mughal and modern architecture and has Asia's largest dome as its key feature.

The building will house the Wolesi Jirga (Lower House) with a seating capacity of 294, a 190-seat Meshrano Jirga (Upper House), besides other facilities like conference hall and press room.

Meanwhile, Mi 25 choppers were taken to Afghanistan in a C-17 transport aircraft of the Indian Air Force, sources said.

While Afghanistan has repeatedly sought India's support in beefing up its military's fighting capability in terms of machinery, India had shied away till now.

The development came after the recent visit of Afghan National Security Adviser Mohammad Hanif Atmar to New Delhi.

Afghanistan has till now been dependent on the US air support in its operations against the Taliban.

However, with the American forces pulling out that country to a large extent, the Afghan forces will be using the Mi 25 now.

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Agencies
July 30,2020

New Delhi, Jul 30: India's gold demand in 2020 is expected to fall to the lowest level in 26 years with domestic bullion prices hitting a record high and as falling disposable incomes could curtail retail purchases, the World Gold Council (WGC) said on Thursday.

Lower demand by the world's second-biggest bullion consumer could limit a rally in global prices, which hit a record high earlier this month, although it could also reduce India's trade deficit and support the ailing rupee.

"Fast rising gold prices could act as headwinds," said Somasundaram PR, the managing director of WGC's Indian operations.

Local gold futures have jumped 35% so far this year after rising a quarter in 2019.

India's gold consumption in the first half of 2020 plunged 56% on-year to 165.6 tonnes. Meanwhile, the coronavirus-triggered lockdown also slashed demand by 70% in the June quarter to 63.7 tonnes, the lowest in more than a decade, the WGC said in a report published on Thursday.

Millions of Indians have lost their jobs or taken a pay cut after the country imposed a lockdown on its 1.3 billion people to curb the spread of the virus that has infected more than 1.5 million Indians.

Consumption is generally high during the June quarter due to weddings and key festivals such as Akshaya Tritiya, but lockdown restrictions kept shoppers indoors this year.

The weak demand in the first half could drag down India's gold consumption in 2020 to the lowest since 1994, when demand stood at 415 tonnes, Somasundaram said, adding that it is still difficult to provide an estimate for full-year demand as the coronavirus crisis is still unfolding.

"Indian demand has previously jumped as much as 300 tonnes in a quarter. Latent demand could come out in the second half," Somasundaram said.

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Agencies
February 5,2020

New Delhi, Feb 5: Days after a gunman opened fire in Delhi's Shaheen Bagh, the epicentre of anti-CAA movement, YouTuber Gunja Kapoor was detained at the protest site on Wednesday after she was caught covertly filming the protests in a burqa.

Kapoor runs the channel ‘Right Narrative’ on YouTube and her pinned tweet on Twitter says she is followed on the microblogging site by PM Narendra Modi.

According to police, the protesters turned suspicious after Kapoor asked them "too many questions". She was caught by some of the women protesters after they identified her as the popular YouTuber. The incident led to a commotion at Shaheen Bagh, the epicentre of protests against the Citizenship Amendment Act (CAA), a senior police official said.

She was taken to Sarita Vihar police station where her identity was ascertained, police said.

The incident sparked outrage on social media. Many took to Twitter to question why Kapoor was at the protest in disguise. Others expressed concern about her motives at secretly filming the protests.

Meanwhile, praises flew in for the women of Shaheen Bagh who can be seen defending Kapoor from angry protesters after she was caught.

This is not the first time that a right wing social media activist has landed in trouble in Shaheen Bagh where residents and other women and children have been sitting in protest for nearly two months since the passing of the contentious Citizenship Amendment Act 2019 in December last year.

In January, Deepa Sharma had posted videos online about the "traumatic" experience she had when she was allegedly heckled and harassed by Shaheen Bagh protesters. While the woman's claim could never be verified, other pieces of rampant fake news aimed at delegitimising and villainising protesters has taken social media by storm.

From doctored videos of women protesters allegedly accepting they were paid Rs 500 to attend protests to alleged fights over biriyani and anti-India sloganeering, trolls on social media seem to be working overtime to taint the ongoing protests.

The latter, however, show no signs of giving up. In fact, as Delhi nears elections on February 8, protesters have arranged for music performances by eminent artists, including pop celebrity Prateek Kuhad, till February 7.

Sit in protests take place 24x7 with women showing up in thousands to spend the night and sing songs of protest. And with polls around the corner, the protests have become an active part of political discourse with Aam Aadmi Party's Manish Sisodia expressing his support for the protesters at a recent press conference.

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Agencies
June 2,2020

Singapore, Jun 2: Moody's Investors Service on Tuesday downgraded 11 Indian banks along with as many non-financial companies and infrastructure majors besides four government-related issuers following a downgrade of the Indian government's issuer rating to Baa3 from Baa2 with a negative outlook.

The rapid and widening spread of the coronavirus outbreak, deteriorating global economic outlook, volatile oil prices and asset price declines are creating a severe and extensive credit shock across many sectors, regions and markets, said Moody's.

The Indian banking sector has been affected given the disruptions to India's economic activity from the coronavirus outbreak, which is weakening borrowers' credit profiles, it added.

The 11 lenders include Bank of Baroda, Bank of India, Canara Bank, Central Bank of India, Export-Import Bank of India, HDFC Bank, Indian Overseas Bank, IndusInd Bank, Punjab National Bank, State Bank of India and Union Bank of India.

The 11 non-finance companies are Oil and Natural Gas Corporation, Hindustan Petroleum Corporation, Oil India, Indian Oil Corporation, Bharat Petroleum Corporation, Petronet LNG, Tata Consultancy Services, Infosys, Reliance Industries, UPL Corporation and Genpact.

The 11 infrastructure companies are NTPC, NHPC, National Highways Authority of India, Power Grid Corporation, Gail India, Adani Green Energy Restricted Group (RG-2), Adani Transmission Restricted Group, Adani Ports and Special Economic Zone, Adani Transmission, Adani Electricity Mumbai and Azure Power Solar Energy.

The four Indian government-related issuers are Indian Railway Finance Corporation, Housing and Urban Development Corporation, Power Finance Corporation and REC Ltd.

"Government-related issuers in India have been affected because of disruptions to India's economy which will weaken borrowers' credit profiles," said Moody's.

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