India's external debt rises 1.2% to $613.1 bn as of end-December, highlights govt
The external debt of India rose 1.2 per cent quarter-on-quarter to $613.1 billion as of end-December, the government stated on Friday. According to the data, country's external debt-to-GDP ratio stood at the same level as the September quarter at 19.1 per cent. Key Points
Economic TimesGoldman Sachs cuts India's CAD forecast, sees improving external balances
Goldman Sachs has revised India's 2024 current account deficit projection to 1.3% of GDP from 1.9%. Optimistic about external balances, the bank expects services exports to perform well, forecasts lower crude oil prices at $81 per barrel, and foresees strong capital flows with potential inclusion in the JP Morgan bond index. Key Points
Economic TimesReset of floating rate home loan EMIs to get more transparent, option to switch to fixed interest rate soo
RBI asks banks to be more transparent in resetting of interest and EMIs of floating rate home loans under external benchmark based lending rate. The banking regulator has also asked the banks to offer the borrowers an option to switch to floating rate. The banking regulator has also asked the banks to be refrain from changing the tenure unreasonably without borrower's consent. Key Points
Economic TimesExpect action, not assurances on incidents of vandalism at Indian missions: MEA
Addressing the weekly briefing, external Affairs Ministry spokesman Arindam Bagchi said New Delhi also expects the host governments to take measures to prevent recurrence of such incidents. Indian missions in London, British Columbia, and San Francisco were vandalised recently, allegedly by pro-Khalistan activists following the police action against radical preacher Amritpal Singh in Punjab. Key Points
Economic TimesChinese technicians, engineers may get faster visas for work
There are some sectors which require technicians to come to set up plants here and that's a good idea as it will benefit our manufacturing and exports. We will raise it with the external affairs ministry, said an official, who did not wish to be identified. Exporters have raised the issue of delay in visas to Chinese technicians, which is affecting companies such as those making non-leather footwear and sports shoes in commencing their operations. Key Points
Economic Times
'India not in mood to overlook terrorists': S Jaishankar's swipe at Pakistan
External Affairs Minister S Jaishankar slammed China and Pakistan while speaking at an event in Singapore. While he called out China for the country's claims over Arunachal Pradesh, the minister asserted India cannot "overlook" terrorism to mend ties with Pakistan. Key Points
India TodayVideo: S Jaishankar, Chinese Foreign Minister meet after 6 months at Munich event
External Affairs Minister S Jaishankar and his Chinese counterpart Wang Yi met on the sidelines of the Munich Security Conference amid the border tensions. Both leaders had a brief chat. This was the first meeting in over six months. Key Points
India TodayMEA spokesperson Arindam Bagchi appointed India's ambassador to UN in Geneva
Arindam Bagchi, the spokesperson for India's Ministry of external Affairs, has been appointed as India's permanent representative to the United Nations and other international organizations in Geneva. Bagchi, a 1995-batch Indian Foreign Service official, has been praised for his handling of critical issues, including the Ladakh border dispute and India's response to COVID-19. He will succeed Indra Mani Pandey in the role. Bagchi has previously served as ambassador to Croatia, deputy high commissioner to Sri Lanka, and director in the Prime Minister's Office. Key Points
Economic TimesMEA employee passes on information to Karachi, arrested for espionage
A person employed with the Ministry of external Affairs was arrested from Ghaziabad on charges of espionage. Police said the man had allegedly shared classified information related to the Ministry and the G20 meeting with a contact in Karachi, Pakistan, using WhatsApp. Key Points
India TodayThe World vs India's economy, S2 Ep 1
Each of these does, indeed, pose a threat. But India has remedies by way of access to discounted Russian oil, and food, foreign exchange and banking capital buffers. Besides, external shocks this year are unlikely to be as intense as last year's Russia-Ukraine conflict and ensuing Western sanctions, or the pace of coordinated liquidity tightening by central banks. Key Points
The Economic Times
Pakistan seeks $11 billion aid from China, Saudi Arabia to keep IMF bailout programme on track: Report
Pakistan is reportedly seeking around $11 billion from China and Saudi Arabia to fill external and domestic resource gaps and ensure economic stability until a new government is formed. The caretaker government is also focusing on expanding the tax net to sectors such as retail, agriculture, and real estate, while cracking down on illegal currency movements. Key Points
Economic TimesRecent remarks by US State Dept 'unwarranted', says MEA on Washington's remarks on Arvind Kejriwal's arres
The Ministry of external Affairs criticized the US State Department's comments on the arrest of Delhi CM Arvind Kejriwal as 'unwarranted.' India had summoned a senior US diplomat on Wednesday to express strong objection to Washington's remarks. Key Points
Economic TimesWorked for government, not family: S Jaishankar on Congress's 'plum postings' dig
External Affairs Minister S Jaishankar said "we work for the government of India... not for a family", adding that he "earned his post". Key Points
India TodayEAM Jaishankar launches 'Tulsi Ghat Restoration Project' in Uganda
External Affairs Minister S. Jaishankar, who is on a three-day visit to Uganda, appreciated the initiatives of Overseas Friends of BJP-Uganda’s initiative to contribute to further beautifying the oldest living city in the world. Key Points
The HinduJaishankar highlights broadening partnership at 6th India-Japan Indo-Pacific Forum
India-Japan's external Affairs Minister, S. Jaishankar, highlighted the growing partnership between the two countries at the 6th India-Japan Indo-Pacific Forum. The partnership includes various initiatives such as the Quad, supply chain resilience initiative, clean energy partnership, semiconductor supply chain partnership, and the Indo-Pacific Economic Framework for Prosperity (IPEC). Key Points
Economic Times
EAM: For Opposition, partisan politics more important than progress
External Affairs Minister S Jaishankar on Friday released a video containing the salient points of his statement in the Rajya Sabha the previous day. This was an unprecedented third time that the minister recounted some important developments pertaining to foreign policy. After the din in the House Key Points
The Tribune IndiaMoto Razr 2023 to come with bigger external display, may launch soon
Moto Razr 2023 will succeed the Moto Razr 2022. To recall, the Moto razr 2022 was launched in August last year. Key Points
mintIndia has not sent any artillery ammunition to Ukraine: MEA
On Tuesday, external Affairs Minister S Jaishankar held a useful phone conversation with his Ukrainian counterpart Dmytro Kuleba focusing on the ongoing conflict in Ukraine, Kyiv's peace formula and ways to advance bilateral ties. The phone conversation came days after Jaishankar paid a five-day visit to Russia during which he held extensive talks with Foreign Minister Sergey Lavrov and called on President Vladimir Putin. Key Points
Economic TimesDrop in oil prices and US treasury yield good news for India but govt, RBI remain alert to inflation: Finm
The ministry said India can look forward to a longer economic and financial cycle over the medium term than in the past, thanks to the sustained focus on public investment in infrastructure and advances in digital public infrastructure. However, external headwinds could threaten these projections. Key Points
Economic TimesCAD to remain moderate, eminently manageable, says RBI Governor Shaktikanta Das
Overall, our external sector indicators have improved significantly. Foreign exchange reserves have rebounded from USD 524.5 billion on October 21, 2022 and now stand in excess of USD 600 billion taking into account our forward assets, said Das while announcing the key decisions of the Monetary Policy Committee (MPC) meeting. Key Points
Economic Times
No direction on loading ₹2,000 notes in ATMs: Nirmala Sitharaman
The Finance Minister also said total amount of the Central government debt/liabilities is estimated at about ₹155.8 lakh crore (57.3% of GDP) as on March 31, 2023. Key Points
The HinduNo direction on loading Rs 2,000 notes in ATMs: FM Sitharaman
As per Annual Reports of the Reserve Bank of India (RBI), the total value of Rs 500 and Rs 2,000 denomination bank notes in circulation as at end-March 2017 and as at March-end 2022 was Rs 9.512 lakh crore and Rs 27.057 lakh crore, Finance Minister Nirmala Sitharaman said in a written reply in Lok Sabha. Key Points
Economic Times'For me, the best diplomat of all time is...': S Jaishankar in Thailand
The external Affairs Minister is in the Indonesian capital to attend a meeting of the Asean-India Foreign Ministers. He began his week-long visit to Indonesia and Thailand beginning Wednesday for meetings, including with counterparts of the ASEAN and BIMSTEC groupings. Key Points
Business TodaySecretary of State Antony Blinken meets Jaishankar, discusses PM Modi's upcoming visit to U.S.
U.S. Secretary of State, Antony Blinken on May 21 met external Affairs Minister S Jaishankar on the sidelines of the G7 Summit in Hiroshima and discussed the upcoming visit of Prime Minister Narendra Modi to America. Key Points
The Hindu