Left condemns war in Gaza, stages protest
The members of Left parties led by CPI(M) district secretary K. Neela, CPI district secretary Mahesh Rathod, SUCI-C district secretary R.K. Veerabhadrappa gathered at Sardar Vallabhbhai Patel Chowk to express their 'solidarity' with Palestine.
Ms. Neela alleged that in the last 20 months Israel has killed more than 55,000 Palestinians, mainly women and children. Essential infrastructure, including hospitals, schools and refugee shelters, have been deliberately targeted, she claimed.
The protestors claimed that it is disturbing that the Indian government, instead of standing with Palestinians, has increasingly adopted a stance of appeasement of Israel.

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New Indian Express
29 minutes ago
- New Indian Express
Govt to criminalise promotion of online money gaming
The government plans to criminalise the offering or promotion of online money gaming and make it an offence for banks, financial institutions or individuals to facilitate fund transfers related to such activities. A bill to regulate the online gaming industry by prohibiting online money gaming was approved by the Cabinet on Tuesday and is expected to be introduced in the Lok Sabha tomorrow. The Promotion and Regulation of Online Gaming Bill, 2025 seeks to regulate the sector by promoting e-sports and online social games while banning online money gaming. The Bill also prohibits advertisements for money gaming platforms and prescribes penalties and fines for violations, with stricter punishment for repeat offenders. It prohibits offering, aiding, abetting, inducing or otherwise in the offering of any online money gaming service and declares it as an offence. Authorities will also be empowered to block access to prohibited games and seize related property to ensure compliance. Government sources said online money gaming is increasingly being used as a channel for money laundering, fraudulent transactions and other illicit activities, including cybercrime and terror financing. Offshore platforms have also been able to evade Indian tax and legal obligations, further complicating the situation. The absence of a central regulator has left the industry without uniform standards for content, user safety or financial practices, leaving players vulnerable and the sector without a coherent growth path. According to the government, in the absence of a clear framework, both e-sports and online social games in India continue to operate in a regulatory grey zone, restricting the sector's growth while exposing users, particularly young audiences, to various risks. Officials noted that there is currently no central authority overseeing online money gaming, while judicial interpretations of the distinction between 'games of skill' and 'games of chance' have been inconsistent, resulting in legal uncertainty and weak enforcement. The Bill will accord formal recognition and governance of e-Sports, 'enabling India to tap into the global competitive gaming ecosystem, promote sportsmanship, and open new career opportunities for youth'. The government claims that establishing institutional mechanisms for both e-Sports and online social games will support innovation, attract responsible investment, and ensure alignment with international best practices. The bill envisages the establishment of a new regulatory authority with an initial capital outlay of ₹50 crore and an annual recurring expenditure of Rs 20 crore. Implementation measures are expected to be rolled out within six months of Cabinet approval.
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Business Standard
29 minutes ago
- Business Standard
India's richest families benefit from Russian crude oil deals: Bessent
US Treasury Secretary Scott Bessent claimed some of the 'richest families in India' benefited from the purchase of Russian crude oil, while reiterating plans to boost tariffs on the South Asian nation. 'We have planned to up the tariffs on India — these are secondary tariffs for buying the sanctioned Russian oil,' Bessent said in an interview to CNBC on Tuesday. Before Russia's 2022 invasion of Ukraine, less than 1% of India's oil came from Russia, 'and now, I believe, it's up to 42%. So India is just profiteering,' he said. 'They are reselling, they made $16 billion on excess profits — some of the richest families in India,' he said. The latest comments show that President Donald Trump's administration is doubling down on its attack on India and indirectly Asia's richest billionaire Mukesh Ambani for purchase of cheap Russian oil. Ambani's Reliance Industries Ltd., which runs the world's largest petroleum refining complex in western India, has been among the buyers of Russian crude. It has bought cargoes under long-term contracts. An email query to Reliance outside of business hours was not immediately replied to. Earlier this week, White House trade adviser Peter Navarro in a column for the Financial Times took a swipe at the South Asian country's oil tycoons and their ties to the government, saying that the surge in purchases were driven by 'profiteering by India's Big Oil lobby' and not 'domestic oil consumption needs.' Trump has threatened to raise the levies on Indian exports to the US to 50% — among the highest on any country's products — on Aug. 27. Half of that penalty is for New Delhi's purchases of Russian oil. The South Asian nation has defended its right to buy oil from the cheapest source, calling the additional tariffs 'unreasonable.' Historically, India hasn't been a significant importer of Russian crude, depending more heavily on the Middle East. That changed in 2022, after the invasion of Ukraine and a $60-per-barrel price cap imposed by the Group of Seven nations that aimed to limit the Kremlin's oil revenue while keeping supplies flowing globally. India's ability to purchase discounted cargoes was a feature of that mechanism acknowledged by US officials. Bessent defended the administration's lack of secondary tariffs on China, which buys more crude oil from Russia than India. China was importing 13% of its oil from Russia before the 2022 invasion, and now it's 16%, 'so China has a diversified input of their oil,' he said.


Time of India
31 minutes ago
- Time of India
CEOs navigating a world shaped by shifting trade & AI
The rules of business are being rewritten. Trade shifts and technological breakthroughs have not just disrupted markets, they've altered the architecture of the global economy. For all the challenges in front of them, this is a great time for CEOs to make a difference. Their choices really matter. India's CEOs are facing these twin forces head-on. They are navigating global turbulence at the very moment their own economy continues to experience extraordinary expansion. A young, upwardly mobile population is fuelling unprecedented consumption. India's Gen Z population is 377 million strong-more than the entire population of the US-and they are already driving $860 billion of spending. Indian companies are pushing into new frontiers, from becoming suppliers of choice to a global customer base to reinventing IT services through AI-powered value creation. RESHAPING SUPPLY CHAINS One of the most visible shifts is playing out in global supply chains . For more than a decade, " Make in India " was a national aspiration, but the sector's share of GDP remained at 15-17%. That is changing. The pandemic exposed the fragility of lean supply networks. Geopolitical tensions have accelerated the shift toward strategic alliances and diversified sourcing. In this reshaped landscape, India is emerging as a strong contender as companies look to find new and expanded partners for their supply chains. Trade shifts are presenting both challenges and opportunities. While the US has announced significant tariffs on over half of India's exports to the nation, thus presenting a challenge to the impacted sectors; its overall impact to Indian economy is quite limited, given exports to US account to only ~2% of India's GDP. Live Events On the other hand, India has been improving access to other markets through Free Trade Agreements - such as with Australia, the UK, EFTA, and the UAE. Negotiations underway with the EU could unlock an even larger prize. As companies recalibrate supply chains toward "friend-shoring" and politically aligned corridors, India's position as a reliable, strategic partner becomes more valuable. In addition, as India continues to push towards greater self-reliance, there are significant opportunities for companies in strategic sectors like electronics & semiconductors and green energy. THE AI PRIZE FOR INDIA'S CEOs At the same time, AI is redefining the fundamentals of business. For most CEOs, it is no longer simply a play for efficiency - it is a platform for reinventing their companies. From automating complex tasks such as coding and logistics planning to transforming customer engagement with AI agents and AI-powered service centres, the technology is redrawing workflows and job boundaries. India's AI ecosystem is evolving quickly. It is home to nearly 3,000 AI startups. The $1.2 billion India AI Mission is accelerating progress as well as funding sovereign large language models, subsidised compute infra, and national skilling programmes. Over 2 million STEM graduates each year give India capabilities that are hard to replicate. NEW PLAYBOOK For CEOs, the combination of shifting trade patterns and AI disruption demands a fundamentally different approach to leadership. Leading companies are embedding geopolitical intelligence and adaptiveness into their core strategy, redesigning supply chains with resilience as the primary objective. Leveraging AI, they reshape functions, invent new business models, and pursue opportunities. Expectations for CEOs are rising as the operating environment becomes less predictable. This era calls for sharper judgment, faster pivots, and bolder bets. Execution, not intention, will determine winners and losers. Trade shifts and acceleration of AI are not passing storms, they are the prevailing winds of the next decade. Leaders who can harness both will not just navigate disruption, they will define what comes next. (Schweizer is CEO and Jain is India Head of BCG . Schweizer will be speaking at The Economic Times World Leaders Forum in New Delhi)