Tillerson's speech set tone of India-US bilateral ties for 100 yrs: official

Agencies
October 19, 2017

Washington, Oct 19: Secretary of State Rex Tillerson in his first major India-policy speech set the tone of bilateral relationship between India and the US for 100 years, a State Department official said, observing that the talk had many audiences, including China.

"China's obviously an audience of the speech. But this is a speech, obviously, which we hope all countries in the Indo- Pacific region will take to heart, that the Secretary and the President has placed a priority," a State Department official told reporters.

He was speaking after Tillerson described India as an opportunity for the US.

"It's a speech that was designed for many audiences," the official said.

Noting that a free and open Indo-Pacific is a priority for both the President and the Secretary of State, the official said, because India is one of the anchors of an Indo-Pacific strategy, the Trump Administration wants to devote a lot of time to this country.

Tillerson is travelling to India next week. President Donald Trump is scheduled to travel to Japan, South Korea, China, Vietnam and Philippines next month.

"So that's the reason for the speech today; there are many audiences for this. But we really view this as a speech with a global audience," the official said.

The speech on US-India relations for the next hundred years to implement President Trump's new strategy for South Asia is culmination of several months of deliberation within the national security cabinet on the best approach to address challenges in South Asia and on the opportunities.

"The Trump Administration considers India as an opportunity and he wanted to present extended remarks and reflections on many ways that US can deepen its ties with India for the next hundred years, and how it is a critical component to a free and open Indo-Pacific," the official said.

"There is a lot of bilateral benefits that follow deepening economic, cultural, diplomatic, and security ties with India. But there are a range of benefits that also follow for the region, the Indo-Pacific region," the State Department official said.

China has risen alongside India, but China has done so less responsibly and China has undermined the international rules-based order while countries like India operate within this rules-based order, the official said.

"We obviously want constructive relations with China. The Secretary is in regular contact with Chinese leadership. But we are not going to shrink or ignore China's challenges to the rules-based order, or where China subverts the sovereignty of neighboring countries," the official said.

"What we like is for many decades, the US has supported China's rise, we have also supported India's rise, but those two countries have risen very differently," the official said.

As Tillerson said about the shared values, shared security, shared national security interests, shared economies, shared democracies, this is a great friendship that US wants to expand and deepen on all areas.

The official argued that there are good reasons bilaterally for the US and India to deepen its ties, but there are opportunities to grow the connectivity in the region.

Referring to the India-US and Japan tri-lateral in New York last month, the official said Japan is very supportive of a free and open Indo-Pacific.

"I've had many consultations with the Japanese about this. We have also talked with the Australians, and we envision a quadrilateral sort of -- an anchoring - the Indo- Pacific anchored by these four countries of Australia, the US, India, and Japan, he said.

While the speech was mostly about India, the subtitle of the speech was "The Foundations of a Free and Open Indo- Pacific."

"So that's what he talked about, including financing mechanisms, and he did talk about some of the predatory economics that we see in the area, and you have countries that are looking for better financing mechanisms and better partners, and we believe that countries like the US and India are those partners," the official said.

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News Network
February 12,2020

New Delhi, Feb 12: Unidentified people opened fire at the convoy of the newly elected Aam Aadmi Party legislator Naresh Yadav in Southwest Delhi when he and his supporters were returning home after visiting a temple after his victory, killing a party volunteer, police and a senior AAP leader said.

The firing incident happened in Kishangarh village late Tuesday night.

Police said they have detained a person for questioning and the incident appears to be a case of personal enmity. Sources said seven rounds were fired at the MLA's convoy.

Another person injured in the incident has been admitted to a hospital.

AAP leader Sanjay Singh identified the dead party volunteer as Ashok Mann.

“Convoy of MLA Naresh Yadav attacked in Mehrauli, Ashok Mann killed. Naresh Yadav was returning home after visiting a temple,” Singh said in a tweet in Hindi.

“At least one volunteer has passed away due to bullet wounds. Another is injured,” AAP tweeted.

Ankit Lal, AAP's social media in-charge, added that miscreants in another car opened fire on the MLA's convoy near Fortis Hospital.

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News Network
March 10,2020

Mar 10: Indian energy tycoon Mukesh Ambani is no longer Asia’s richest man, relinquishing the title to Jack Ma after oil prices collapsed along with global stocks.

The rout, exacerbated by mounting fears that the spread of the novel coronavirus will thrust the world into a recession, erased $5.8 billion from Ambani’s net worth on Monday and pushed him to No. 2 on the list of Asia’s richest people, according to the Bloomberg Billionaires Index. Ma, the Alibaba Group Holding Ltd. founder who relinquished the No. 1 ranking in mid-2018, is back on top with a $44.5 billion fortune, about $2.6 billion more than Ambani.

Oil plunged the most in 29 years on Monday as Saudi Arabia and Russia vowed to pump more in a struggle for market share. The slump comes just as the coronavirus is spurring the first decline in demand in more than a decade. That raises questions about whether Ambani’s flagship Reliance Industries Ltd. will be able to cut net debt to zero by early 2021, as he has pledged. The plan hinges on a proposal to sell a stake in the group’s oil and petrochemicals division to Saudi Arabian Oil Co., the world’s biggest crude producer.

While the coronavirus has curtailed some of tech giant Alibaba’s businesses, the damage has been mitigated by increased demand for its cloud computing services and mobile apps.

Reliance Industries, by comparison, has no such silver lining. The Indian conglomerate’s shares plunged 12% on Monday, the most since 2009, extending this year’s decline to 26%. Alibaba’s American depositary receipts have slipped 6.8% so far in 2020.

Ma reclaims crown after Reliance shares were pummeled in 2020.

Few of the world’s billionaires fared well in Monday’s collapse as the S&P 500 Index and Dow Jones Industrial Average each plunged more than 7.5%, the most since the 2008 financial crisis, threatening to end the longest bull market in history. But no one did worse than those whose fortunes are underpinned by oil. Wildcatter Harold Hamm’s fortune was cut almost in half to $2.4 billion and fellow oil magnate Jeff Hildebrand lost $3 billion, bumping both from Bloomberg’s 500-member wealth ranking.

In a pivot toward new businesses such as telecommunications, technology and retail, Ambani’s Reliance Industries has piled on billions of dollars of debt over the years.

It spent almost $50 billion -- most of it funded by borrowings -- to build Reliance Jio Infocomm Ltd., which became India’s No. 1 wireless carrier within about three years of its debut. As the mobile venture took off, Ambani also unveiled plans for an e-commerce empire to rival Amazon.com Inc. in India.

Addressing concerns over the liabilities, Ambani pledged in August to cut the group’s net debt to zero from about $21 billion as of last March. The Aramco deal is crucial to that plan for which Reliance Industries has valued its oil-to-chemicals division at $75 billion including debt, implying a $15 billion valuation for the 20% stake that’s for sale.

Signs of a potential delay to that deal unnerved some investors, hammering the stock since it touched a record high on Dec. 19.

Reliance Industries expected the Aramco transaction to be completed by March, but people familiar with the matter said in February that talks were still ongoing to bridge differences between the two parties over the deal’s structure.

Adding to the uncertainty, Indian Prime Minister Narendra Modi’s administration has petitioned a court to halt the proposed stake sale, threatening a key source of funds needed to pare net debt.

But Ambani, 62, may soon bounce back from the setback, said Harish H.V., managing partner at ECube Investment Advisors in Bengaluru, India.

“The game isn’t over,” he said. “Ambani has successfully built a robust business model which would keep him in the game. Moreover, his telecom business will start yielding results in coming years.”

Comments

SmR
 - 
Tuesday, 10 Mar 2020

The curses of the bank depositors savings which vanished with collapsing economy and fraudlent seems to have gradully affecting riches of Ambani's.

 

AU
 - 
Tuesday, 10 Mar 2020

in Holy Quran Allah says; but they plan and Allah plans, and Allah is the best planners..(Surah Al Anfal 8:30)

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News Network
June 4,2020

New Delhi, Jun 4: India's Defence Secretary Ajay Kumar tested positive for COVID-19 on Wednesday, following which the defence ministry carried out a massive contact-tracing exercise, official sources said.

Kumar's condition is stable and he is currently under home-quarantine, they said.

At least 35 officials working at the ministry's headquarters in South Block in the Raisina Hills have been sent on home quarantine after reports of Kumar testing positive for the infection emerged on Wednesday morning.

There was no official comment on Kumar's health condition. The defence ministry spokesperson refused to comment on the issue.

It is learnt that Defence Minister Rajnath Singh did not attend office as part of a precautionary measure.

The offices of the defence minister, the defence secretary, the Army Chief and the Navy Chief are on the first floor of the South Block.

The sources said all laid down protocols on contact-tracing and quarantining of people are being scrupulously followed.

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