Highlighting the transformative power of digitization, Dennis Francis, President of the 78th UN General Assembly session, praised India for its remarkable achievements in leveraging technology to drive rapid development. Over the past 5-6 years, India’s digital advancements have lifted 800 million people out of poverty. Francis pointed out how rural communities in India now conduct financial transactions, pay bills, and manage their businesses effortlessly using smartphones. He pointed out that India’s rapid development highlights how smartphones have helped 800 million people rise out of poverty. The UNGA President attributed this success to India’s extensive internet coverage and high cellphone usage,…
Author: Shradhanjali Mukherjee
Shradhanjali Mukherjee
Salina Shah
On Tuesday, India’s market capitalization surpassed $5.5 trillion for the first time, just over two months after it initially exceeded $5 trillion. This achievement reflects strong market performance, even as the benchmark indices remained relatively stable for the second consecutive day. By the end of Tuesday’s trading session, the total market capitalization of all BSE-listed companies reached Rs 461 trillion (approximately $5.5 trillion). India’s market capitalization first crossed $5 trillion on May 24, 2024, according to Bloomberg data. The market had reached the $1 trillion mark on May 28, 2007, and it took another decade to double that figure. Since…
Mani Skaria, originally from the small village of Amayannor in Kerala, India, is now a transformative force in Texas’s citrus industry. His journey from aspiring civil servant to agricultural innovator began with a teaching stint in Jordan and led him to a groundbreaking career in the U.S. In Texas, Skaria has built an impressive citrus empire with his company, U.S. Citrus, located in Hargill. This vast orchard has become a testament to his innovative approach, incorporating cutting-edge techniques such as micro-budding technology to boost fruit yields and speed up production. His methods have set new standards in the industry, making…
On Monday, former Maldivian foreign minister Dunya Maumoon expressed optimism about the relationship between New Delhi and Male, anticipating that ties would soon get “back on track” after a significant diplomatic dispute earlier this year. Maumoon’s comments came following Maldives President Mohamed Muizzu’s gratitude towards India for assisting in easing the island nation’s debt repayment. President Muizzu also expressed hope for stronger ties with India and the potential signing of a free trade agreement. Reflecting on the country’s recent Independence Day, Maumoon noted the financial challenges and heavy reliance on external support faced by the Maldives. She welcomed the renewed…
Indian Prime Minister Narendra Modi is expected to visit Ukraine next month, marking his first trip to the country since the onset of the conflict with Russia. The visit is likely to occur during the third week of August, potentially on August 23. India, known for its longstanding friendly relations with Russia and good ties with Ukraine, might propose mediation in resolving the Ukrainian crisis. This proposition underscores India’s established policy of facilitating conflict resolution through dialogue and diplomacy, contingent upon the consent of both involved parties. Modi’s potential role as a mediator is bolstered by his amicable relationship with…
U.S. Vice President Kamala Harris’s rapid ascent to the Democratic Party’s presidential ticket has ignited enthusiasm among Indian Americans, enhancing the community’s political visibility and stirring excitement. Harris, with her Indian and Jamaican heritage, is poised to become the first female presidential nominee of color following President Joe Biden’s withdrawal from the race. However, the excitement extends beyond her candidacy alone. Indian Americans, regardless of their political affiliations, are thrilled to see other prominent figures of Indian descent gaining national attention, such as Usha Vance, wife of Republican vice presidential nominee J.D. Vance, and former presidential contenders Nikki Haley and…
The political landscape in the United States has been significantly altered by recent events, including a failed assassination attempt on former President and Republican nominee Donald Trump and President Joe Biden’s decision not to seek re-election. Biden, citing the best interests of the Democratic Party, endorsed Vice President Kamala Harris as the party’s presidential nominee, further intensifying the political climate. In this context, former Indian Ambassador to the US, Harsh Vardhan Shringla, stated that regardless of the political party in power, both Democrats and Republicans support strong relations with India. In an exclusive interview with ANI, Shringla discussed the implications…
Former Indian tennis stars Leander Paes and Vijay Amritraj have made history as the first Asian men inducted into the International Tennis Hall of Fame. Paes entered the Hall as a player, while Amritraj was honored in the contributor category. The induction ceremony took place in Newport, USA, on Saturday, where veteran British journalist Richard Evans was also celebrated. The event featured a lineup of tennis legends, including Paes’ former doubles partner, Martina Navratilova, as well as Grand Slam champions Andre Agassi, Chris Evert, Stan Smith, and International Tennis Hall of Fame Honorary President Kim Clijsters. Leander Paes, who retired…
On Tuesday, the Indian startup ecosystem celebrated the Union Budget 2024’s decision to eliminate angel tax, which had been levied on funds raised by startups from angel investors. This move is seen as a significant boost for the startup community, aiming to enhance entrepreneurial activity and support innovation. Union Finance Minister Nirmala Sitharaman highlighted that the removal of angel tax is designed to strengthen the startup environment, stimulate entrepreneurship, and foster innovation. Varun Gupta, Co-Founder of BOULT, noted that this change is particularly beneficial for early-stage startups and reflects the government’s commitment to supporting startup funding. He also emphasized the…
On Tuesday, India’s Finance Minister Nirmala Sitharaman revealed an ambitious $576 billion spending plan for the current fiscal year. This budget, slightly above earlier estimates, is designed to stimulate manufacturing and job creation in the world’s fastest-growing major economy. The government will allocate 2.66 trillion rupees ($32 billion) specifically for rural development and introduce new programs in states governed by key coalition allies supporting Prime Minister Narendra Modi. The updated budget projects spending of 48.21 trillion rupees, marking a 1.2% increase from the interim budget’s 47.66 trillion rupees estimate. This adjustment is partly due to a substantial dividend transfer from…
