Pi Coin Price Surges 50% Amid Positive US-China Trade Talks
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Pi Coin Price: Over the past seven days, the price are up 113 per cent as per CoinMarketCap.
Pi Coin Price: Pi Coin price zoomed 50 per cent to cross $1-mark amidst the positive trade talks between the United States and China. According to CoinMarketCap, the price of Pi Coin was up 33 per cent to $1.25 around 9:20 am IST, with a 280% jump in volume at $1.32 billion.
Over the past seven days, the price are up 113 per cent as per CoinMarketCap. With the rise in investors' optimism and interest, the market cap of Pi Coin surged to $8.87 billion with a jump of 34 per cent.
The positive developments surrounding the trade talks between the US and China have improved market sentiment, increasing buying interest in risk assets like cryptocurrencies, stated Shivam Thakral, CEO of BuyUcoin.
'If the trade deal leads to reduced tariffs and improved global trade, increased corporate profits and overall liquidity in the financial markets could spill over into the cryptocurrency market," he added.
Meanwhile, Bitcoin also crossed the psychological $100,000 mark on the optimism of several bilateral trade deals forged by the United States including US-Uk trade deal.
Bitcoin is trading above $104,000 as the markets remain optimistic about the US-China trade deal. With the RSI holding above 70, the asset is showing strong bullish momentum at current levels.
Additionally, On-chain data reveals nearly 350,000 new BTC wallets created in a day, indicating rising retail interest and fresh liquidity, said Alankar Saxena, Co-founder and CTO of Mudrex.
US-China Trade Talk
US Treasury Secretary Scott Bessent on Sunday reported 'substantial progress" in US talks with China's top economic officials to de-escalate a damaging trade war, but offered no details of an agreement reached as two days of negotiations wrapped up in Geneva.
Bessent told reporters that details would be announced on Monday and that US President Donald Trump was fully aware of the results of the 'productive talks."
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May 12, 2025, 09:44 IST
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Business Standard
an hour ago
- Business Standard
India to raise agri, fisheries, investment facilitation issues at WTO meet
India will flag its concerns on issues pertaining to agriculture, fisheries agreement, China-led proposal on investment facilitation and dysfunctional appellate body of the WTO during an informal meeting of about 25 trade ministers in Paris on June 3, an official said. The mini-ministerial meeting will be held on the margins of the OECD (Organisation for Economic Co-operation and Development) Ministerial Council Meeting in Paris. Commerce and Industry Minister Piyush Goyal will participate in this meeting. He is on a five-day visit to France and Italy from June 1. The official said that India will raise its concerns on all key issues of the WTO including agriculture (finding permanent solution to the public stock holding); fisheries agreement, investment facilitation proposal, reforms in the WTO and dysfunctional appellate body of the Geneva-based forum. India is against the move led by countries such as China to push a proposal on investment facilitation at the World Trade Organization (WTO). A China-led group of 128 countries is pushing for the Investment Facilitation for Development (IFD) proposal. Since 2009, WTO's dispute settlement mechanism is not functioning properly as the US has stalled appointments of members in the appellate body. Meanwhile, a commerce ministry statement said that during his stay in Paris, Goyal will participate in the informal gathering of trade ministers from countries including the US, Singapore, Saudi Arabia, South Korea, Nigeria, Brazil, and Israel. "At this crucial forum, he will engage with global counterparts on key multilateral trade issues and articulate the perspectives and priorities of India," the ministry said. Goyal is also scheduled to hold bilateral meetings with French ministers, including Eric Lombard, Minister of Economy, and Laurent Saint-Martin, French Trade Minister. The discussions will focus on strengthening the Indo-French economic partnership and exploring new avenues for enhancing trade and investment cooperation. He will also meet top leadership of major French companies such as Vicat, Total Energies, L'Oreal, Renault, Valeo, EDF and ATR, besides attending the India-France Business Round Table and the India-France CEO Forum. As part of the visit, the minister will hold a series of high-level bilateral meetings with key international partners. These include the UK's Secretary of State for Business and Trade, Jonathan Reynolds; Singapore's Deputy Prime Minister and Minister for Trade and Industry Gan Kim Yong; and Saudi Arabia's Minister of Commerce, Majid bin Abdullah Al-Kasabi. Goyal will also engage with Israel's Minister for Trade and Investment Nir Barkat; Nigeria's Minister for Trade, Industry and Investment Jumoke Oduwole OON; Commissioner for Trade and Economic Security Marcos Sefcovic; and Brazil's Foreign Minister Mauro Luis Iecker Vieira. "These dialogues are aimed at advancing strategic economic cooperation and fostering mutually beneficial partnerships across regions. They will also provide significant impetus to India-EU FTA (free trade agreement) negotiations," it said. India and the EU are looking at concluding an early harvest trade agreement by July. (Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
Indian Express
2 hours ago
- Indian Express
UPSC Key: Landslides, Uranium enrichment, and China's curbs on rare-earths
Important topics and their relevance in UPSC CSE exam for June 1, 2025. If you missed the May 31, 2025, UPSC CSE exam key from the Indian Express, read it here. Syllabus: Preliminary Examination: Current events of national and international importance, Economic Development Main Examination: General Studies-II, III: Effect of policies and politics of developed and developing countries on India's interests, Indian Economy, Effects of liberalisation on the economy What's the ongoing story: US PRESIDENT Donald Trump Friday announced he would double import tariffs on steel to 50 per cent, a move that was termed 'unfortunate' by India's exporters, who said this made trade talks 'much more difficult and complicated'. Key Points to Ponder: • What are tariffs? Why are tariffs imposed? • How are tariffs retaliated? • What is a 'tariff-rate quota' (TRQ)? Are they permitted under WTO rules? • What is the US Trade Expansion Act of 1962? • How can high US tariffs on steel and aluminium trigger ripple effects globally? • What can be the implications of the US doubling steel import tariffs on India-US bilateral trade relations? How can it affect ongoing Bilateral Trade Agreement (BTA) negotiations? • What is the role of the World Trade Organisation (WTO) in resolving unilateral trade actions? • What are India's major exports to the US? • What strategies is India using to navigate potential trade negotiations with the U.S.? • Read about the bilateral trade agreement between India and the USA? Key Takeaways: • Addressing a rally at a US steel plant in West Mifflin, Pennsylvania, Trump said Friday, the sharp hike in tariffs on steel from 25 per cent to 50 per cent will 'even further secure the steel industry in the United States'. 'Nobody's going to get around that,' he said. • Later in a social media post, Trump said, 'It is my great honour to raise the tariffs on steel and aluminium from 25% to 50%, effective Wednesday, June 4th. Our steel and aluminium industries are coming back like never before. This will be yet another BIG jolt of great news for our wonderful steel and aluminium workers. Make America Great Again.' • This fresh tariff hike follows a similar increase earlier this year, when Trump raised tariffs on aluminium and steel to 25 per cent. Exporters had told the Union Ministry of Commerce and Industry that exports worth $5 billion were affected. • 'It's unfortunate that, while bilateral trade agreement (BTA) negotiations are ongoing, such unilateral tariff hikes are being introduced. It only makes the work of negotiators much more difficult and complicated. This will definitely impact engineering exports, which currently stand at around $5 billion under this category,' said Pankaj Chadha, Chairman, Engineering Export Promotion Council (EEPC) India. • 'We urge that, since the UK has been granted exemption from Section 232, India should also be extended a similar exemption, possibly under tariff rate quota (TRQ) restrictions.' • The tariff hike has been implemented under Section 232 of the US Trade Expansion Act of 1962, a law that allows the President to impose tariffs or other trade restrictions if imports are deemed a threat to national security. Trump first invoked this provision in 2018 to impose a 25 per cent tariff on steel and 10 per cent on aluminium. • US tariffs on steel and aluminium tend to trigger ripple effects globally. During Trump's first term, the European Union imposed restrictions on Indian exporters in response to similar US measures. • India has already issued a formal notice at the World Trade Organization (WTO) signalling its intention to impose retaliatory tariffs on US goods in response to the earlier steel tariffs. With Trump now doubling the duties, it remains to be seen whether India will proceed with retaliation, potentially by increasing tariffs on select US exports within a month. Do You Know: • Tariffs are taxes or duties imposed by a government on imported goods and services. Their objective is to make foreign products more expensive compared to domestically produced goods, thereby encouraging consumers to prefer local products. Tariffs also act as a protective measure for domestic industries against foreign competition. Additionally, they serve as a source of revenue for the government. • As the US is India's largest trading partner, with bilateral trade in 2023 crossing $117 billion. India is also vulnerable to changes in American trade policy, as the US market is India's largest export market for both goods and services. Most importantly, the US is the only country with which India has a trade surplus, making it a crucial source of US dollar earnings. In this context, the tariff policy of the US also affects the Indian economy on multiple fronts. Other Important Articles Covering the same topic: 📍UPSC Issue at a Glance | From Trump's reciprocal tariffs announcement to 90-day pause: Everything in between 📍Between Scylla and Charybdis 📍UPSC Issue at a Glance | Tariff war: 4 Key Questions You Must Know for Prelims and Mains Previous year UPSC Mains Question Covering similar theme: What are the key areas of reform if the WTO has to survive in the present context of 'Trade War', especially keeping in mind the interest of India? (UPSC CSE 2018) Syllabus: Preliminary Examination: Current events of national and international importance. Mains Examination: General Studies-II, III: India and its neighbourhood- relations, Role of external state and non-state actors in creating challenges to internal security. What's the ongoing story: Chief of Defence Staff General Anil Chauhan's interviews to news agencies Reuters and Bloomberg on the sidelines of the Shangri-La Dialogue security forum in Singapore shed new light on combat operations during Operation Sindoor, going beyond the media briefings by the Indian Armed Forces during the hostilities. Key Points to Ponder: • Read about the Operation Sindoor. • Know about the Shangri-La Dialogue security forum and its role in defence diplomacy? • What is Chief of Defence Staff (CDS)? What is the role of CDS? • What is the strategic significance of Operation Sindoor 2025 in the context of India's counter-terrorism policy and regional security dynamics? • What is the significance of indigenous aircraft development in enhancing India's defence self-reliance? • Read about the 5th generation fighter aircraft and its strategic importance. Where does India stand in this race? • Know about the India's AMCA project. • India's important past military and humanitarian operations – Know in detail Key Takeaways: • First, General Chauhan's remark about initial losses in the air, without going into details or giving a count of aircraft lost, is the first official admission of fighter jets being downed in combat operations. Asked by Bloomberg if the Pakistani claim of downing six Indian jets was correct, the CDS said: 'Absolutely incorrect.' • On May 11, a day after the two militaries reached a truce, Air Marshal A K Bharti, Director of Air Operations, responding to a question at a media briefing, said he would not like to comment on whether India lost any aircraft and cited the prevailing combat situation. He said losses were part of any combat, and the Indian military had achieved all its selected objectives and all IAF pilots were back home. • General Chauhan, while acknowledging Indian losses in the air, underlined that what was more important was why these losses (of aircraft) occurred, and what India did after that. • He told Reuters that the IAF 'flew all types of aircraft with all types of ordnances on the 10th' of May, the day India struck air bases deep inside Pakistan, including the Nur Khan air base in Rawalpindi. Do You Know: • Operation Sindoor: India launched 'Operation Sindoor' on May 7, hitting nine terror locations in Pakistan and Pakistan-occupied Kashmir (PoK). India's retaliatory attack is ostensibly considered a reference to only men being singled out based on their faith before being killed in Pahalgam. This marked the most expansive and widespread retaliation by India in recent years, since the Balakot airstrikes in 2019 and the surgical strikes following the Uri attack in 2016. The attacks were made at nine locations, which were terrorist infrastructure in Pakistan and Pakistan-occupied Kashmir. • India's planned fifth-generation fighter jet—advanced medium combat aircraft (AMCA) — hit a new milestone on 27th May with Defence Minister Rajnath Singh approving the execution model. With this, the state-owned Hindustan Aeronautics Limited (HAL) will have to bid independently or in partnership with other firms to get the contract for manufacturing it. The execution model approach provides equal opportunities to both the private and public sectors on a competitive basis. The AMCA will be India's indigenous fifth-generation fighter aircraft. The indigenous Light Combat Aircraft (LCA) Tejas is a 4.5-generation single-engine multirole aircraft. Other Important Articles Covering the same topic: 📍Cactus Lily to Bandar: India's ops against Pak 📍Nine lessons from Operation Sindoor UPSC Prelims Practice/Previous Year Question Covering similar theme: (1) With reference to India's military operations, consider the following pairs: How many pairs given above are correctly matched? (a) None of the pairs (b) Only one pair (c) Only two pairs (d) All three pairs (2) Operations undertaken by the Army towards upliftment of the local population in remote areas to include addressing of their basic needs is called: (UPSC CSE 2024) (a) Operation Sankalp (b) Operation Maitri (c) Operation Sadbhavana (d) Operation Madad Previous year UPSC Mains Question Covering similar theme: 📍The terms 'Hot Pursuit' and 'Surgical Strikes' are often used in connection with armed action against terrorist attacks. Discuss the strategic impact of such actions. (UPSC CSE 2016) Syllabus: Preliminary Examination: Current events of national importance, General issues on Environmental Ecology, and Climate Change. Mains Examination: General Studies-I, II, III: Geography, government policies and interventions, disaster management. What's the ongoing story: At least 28 people have died across different states in the Northeast in the last two days, with heavy rainfall battering the region with floods and landslides. Authorities in all states in the region have been put on high alert, particularly after Friday's bout of rain, which the IMD attributed to a depression over Bangladesh. Key Points to Ponder: • What are landslides? What causes landslides? • How are landslides classified? • How prone is India to landslides? • What are the geographical and climatic factors that make the Northeastern region of India vulnerable to floods and landslides? • What are the key causes of urban flooding, and what mitigation measures can be adopted? • Read about the roles and responsibilities of State Disaster Management Authorities (SDMAs) in managing disasters such as floods and landslides. • What are the impacts of flash floods and landslides on infrastructure and human lives? • What measures have been taken by the government to reduce the damage caused by landslides and floods? • Read about the National Landslide Risk Management Strategy and Sendai Framework for Disaster Risk Reduction. • What measures should be taken by the government to strengthen resilience in ecologically fragile regions? Key Takeaways: • Seven people were killed in Arunachal Pradesh after a landslide on the National Highway 13 swept a vehicle into a gorge along the stretch from Bana and Seppa in East Kameng district on Friday night. In another landslide-related incident, two people were killed in the Lower Subansiri district. • In Assam, Guwahati city was brought to its knees by urban floods and five people were killed in a landslide in Bonda, on the outskirts. • As of Saturday afternoon, the Mizoram State Disaster Management Authority reported landslides at 113 locations across the state, and five people were reported killed. • In Manipur, the banks of the Imphal River were breached, inundating a large area of Imphal East district. Flash floods and landslides were reported in the hill districts of Senapati, Ukhrul, Tamenglong, Noney, and Pherzawl. Do You Know: • A landslide is a physical phenomenon in which a mass portion of rock, debris, or soil falls due to the influence of gravity. Landslides are one of the common geological hazards in hilly areas throughout the world. According to WHO, areas that are most vulnerable to landslides include: — Any area where surface runoff is directed or land is heavily saturated; — Steep terrain, including areas at the bottom of canyons; — Land that has been modified due to human activity, such as deforestation or construction; — Land previously burned by wildfires; — Channels along a stream or river. • The Indian Space Research Organisation (ISRO) released the 'Landslide Atlas of India' in 2023. Landslides mapped in the ISRO atlas are mainly event-based and season-based. • Excluding snow covered areas, approximately 12.6 per cent of the country's geographical land area (0.42 million sq km) is prone to landslides. As many as 66.5 per cent of the landslides are reported from the North-western Himalayas, about 18.8 per cent from the North-eastern Himalayas, and about 14.7 per cent from the Western Ghats. • Nearly half of the country's landslide-prone area (0.18 sq km) is located in the states of Assam, Arunachal Pradesh, Sikkim, Meghalaya, Mizoram, Manipur, Tripura and Nagaland. Uttarakhand, Himachal Pradesh, Jammu and Kashmir cover 0.14 million sq km of the total landslide-prone areas, whereas Maharashtra, Goa, Karnataka, Kerala, and Tamil Nadu account for 0.09 million sq km. A relatively small area (0.01 million sq km) of the Araku region in Andhra Pradesh along the Eastern Ghats, too, reports landslide events. In the Western Ghats, despite fewer events, landslides were found to be making inhabitants significantly vulnerable to fatalities, especially in Kerala. Other Important Articles Covering the same topic: 📍UPSC Issue at a Glance | Landslides : 5 Key Questions You Must Know for Prelims and Mains Previous year UPSC Prelims Question Covering similar theme: (3) Consider the following statements: 1. Any area where surface runoff is directed or land is heavily saturated is vulnerable to landslides. 2. The soil topography, rock type, geomorphology, and slope angles in certain areas can make them more vulnerable to landslides than others. Which of the statements given above is/are correct? (a) 1 only (b) 2 only (c) Both 1 and 2 (d) Neither 1 nor 2 Previous year UPSC Mains Questions Covering similar theme: Describe the various causes and the effects of landslides. Mention the important components of the National Landslide Risk Management Strategy. (UPSC CSE 2021) The Himalayas are highly prone to landslides.' Discuss the causes and suggest suitable measures of mitigation. (UPSC CSE 2016) Syllabus: Preliminary Examination: Current events of national and international importance. Mains Examination: General Studies-II, III: Effect of policies and politics of developed and developing countries on India's interests, Indian Economy and issues relating to planning, mobilisation of resources, growth, development and employment, Science and Technology. What's the ongoing story: Global auto executives are sounding the alarm on an impending shortage of rare-earth magnets from China – used in everything from windshield-wiper motors to anti-lock braking sensors – that could force the closure of car factories within weeks. Key Points to Ponder: • What are rare earth magnets? Why is it called rare earth minerals? • What is the difference between critical minerals and rare earth elements? • Which country has the most rare earth deposits? • What effects does China's dominance over the processing of rare earth magnets have on global supply chains? • What is its role in the automobile and electronics sector? • What are the rare earth minerals found in India? • What should India do to prepare for future shortages of strategic minerals such as rare earth elements? Key Takeaways: • In a previously unreported May 9 letter to Trump administration officials, the head of the trade group representing General Motors (GM.N), Toyota (7203.T), Volkswagen ( Hyundai ( and other major automakers raised urgent concerns. • 'Without reliable access to these elements and magnets, automotive suppliers will be unable to produce critical automotive components, including automatic transmissions, throttle bodies, alternators, various motors, sensors, seat belts, speakers, lights, motors, power steering, and cameras,' the Alliance for Automotive Innovation wrote the Trump administration. • The letter, which also was signed by MEMA, The Vehicle Suppliers Association, added that, without those essential automotive components, it would only be a matter of time before U.S. vehicle factories are disrupted. • China – which controls over 90% of global processing capacity for the magnets used in everything from automobiles and fighter jets to home appliances – imposed restrictions in early April requiring exporters to obtain licenses from Beijing. Do You Know: • Rare Earth Elements (REEs) or Rare Earth Metals are a set of 17 chemical elements in the periodic table — the 15 lanthanides, plus scandium and yttrium, which tend to occur in the same ore deposits as the lanthanides, and have similar chemical properties. REEs are classified as light RE elements (LREE) and heavy RE elements (HREE). • The 17 Rare Earths are cerium (Ce), dysprosium (Dy), erbium (Er), europium (Eu), gadolinium (Gd), holmium (Ho), lanthanum (La), lutetium (Lu), neodymium (Nd), praseodymium (Pr), promethium (Pm), samarium (Sm), scandium (Sc), terbium (Tb), thulium (Tm), ytterbium (Yb), and yttrium (Y). • Some REEs are available in India — such as Lanthanum, Cerium, Neodymium, Praseodymium and Samarium, etc. Others such as Dysprosium, Terbium, and Europium, which are classified as HREEs, are not available in Indian deposits in extractable quantities. Hence, there is a dependence on countries such as China for HREEs, which is one of the leading producers of REEs, with an estimated 70 per cent share of the global production. Other Important Articles Covering the same topic: 📍Knowledge Nugget: Geopolitics and Minerals – What is the UPSC relevance of Rare Earth Elements? 📍China curbs on rare earth magnets: Electric Vehicle makers face shortage, approach govt UPSC Prelims Practice Question Covering similar theme: (4) With reference to the Rare Earth Elements, consider the following statements: 1. These are crucial for manufacturing high-value goods in defence and clean energy. 2. The United States dominated rare earth elements, supplying 85 to 95 per cent of the world's demand. 3. Gadolinium (Gd) and holmium (Ho) are considered Rare Earth Elements. Which of the statements given above are correct? (a) 1 and 2 only (b) 2 and 3 only (c) 1 and 3 only (d) 1, 2 and 3 Syllabus: Preliminary Examination: Current events of national and international importance. Main Examination: General Studies-II, III: Effect of policies and politics of developed and developing countries on India's interests, Science and Technology. What's the ongoing story: Iran has further increased its stockpile of uranium enriched to near weapons-grade levels, a confidential report by the U.N. nuclear watchdog said Saturday. In a separate report, the agency called on Tehran to urgently change course and comply with its years-long probe. Key Points to Ponder: • What is uranium enrichment? • What is the difference between natural uranium and enriched uranium? • What is the significance of uranium enrichment levels in the context of nuclear non-proliferation? • Read about the International Atomic Energy Agency. What is its role in ensuring global nuclear security? • What was the 2015 Iran nuclear deal? • What are the key issues surrounding Iran's nuclear program and its implications for regional and global security. • What can be the implications of Iran's increased enriched uranium stockpile on regional and global security? • Read about the Non-Proliferation Treaty (NPT). Key Takeaways: • The report comes at a sensitive time, as the administration of U.S. President Donald Trump seeks to reach a deal with Tehran to limit its nuclear program. The two sides have held several rounds of talks, so far without agreement. • The report by the Vienna-based International Atomic Energy Agency — which was seen by The Associated Press — says that as of May 17, Iran has amassed 408.6 kilograms (900.8 pounds) of uranium enriched up to 60%. • That's an increase of 133.8 kilograms (294.9 pounds) — or almost 50% — since the IAEA's last report in February. The 60% enriched material is a short, technical step away from weapons-grade levels of 90%. A report in February put this stockpile level at 274.8 kilograms (605.8 pounds). • Iran said the report is 'politically motivated and repeats baseless accusations', state media reported. Iran said it will 'implement appropriate measures' in response to any effort to take action against Tehran at the IAEA governors' meeting. • Approximately 42 kilograms of 60% enriched uranium is theoretically enough to produce one atomic bomb, if enriched further to 90%, according to the watchdog. • Iran has maintained its nuclear program is for peaceful purposes only, but the IAEA chief, Rafael Mariano Grossi, has warned that Tehran has enough uranium enriched to near-weapons-grade levels to make 'several' nuclear bombs if it chose to do so. Do You Know: • Established in 1957, the IAEA was created in response to the deep fears and expectations generated by the increased use of nuclear technology. It was the result of U.S. President Eisenhower's 'Atoms for Peace' address to the General Assembly of the United Nations on 8 December 1953. • In 2005, the IAEA and its Director General, Mohamed ElBaradei, were awarded the Nobel Peace Prize for their work for a safer and more peaceful world. The Committee honoured the IAEA and its leader 'for their efforts to prevent nuclear energy from being used for military purposes and to ensure that nuclear energy for peaceful purposes is used in the safest possible way.' • IAEA Safeguards are embedded in legally binding agreements. These safeguards are accepted by the states after the conclusion of such agreements with the agency. It plays a central role in preventing the proliferation of nuclear weapons through the independent verification of States' compliance with nuclear non-proliferation undertakings. • In 2014, India ratified the Additional Protocol (AP), which granted the IAEA greater access to India's civil nuclear programme. India has signed an item-specific safeguards agreement under the IAEA along with Pakistan and Israel. They are nuclear-power states that are not a member of the Nuclear Suppliers Group (NSG). Other Important Articles Covering the same topic: 📍The history of Iran's nuclear programme Previous year UPSC Prelims Question Covering similar theme: (5) Which of the following is not a member of 'Gulf Cooperation Council'? (UPSC CSE 2016) (a) Iran (b) Saudi Arabia (c) Oman (d) Kuwait (6) Consider the following statements: (UPSC CSE 2023) Statement-I: India, despite uranium deposits, depends on coal for most of its electricity production. Statement-II: Uranium, enriched to the extent of at least 60%, is required for the production of electricity. Which one of the following is correct in respect of the above statements? (a) Both Statement-I and Statement-II are correct and Statement-II is the correct explanation for Statement-I (b) Both Statement-I and Statement-II are correct and Statement-II is not the correct explanation for Statement-1 (c) Statement-I is correct but Statement-II is incorrect (d) Statement-I is incorrect but Statement-II is correct Subscribe to our UPSC newsletter. Stay updated with the latest UPSC articles by joining our Telegram channel – Indian Express UPSC Hub, and follow us on Instagram and X. 🚨 Click Here to read the UPSC Essentials magazine for May 2025. Share your views and suggestions in the comment box or at Roshni Yadav is a Deputy Copy Editor with The Indian Express. She is an alumna of the University of Delhi and Jawaharlal Nehru University, where she pursued her graduation and post-graduation in Political Science. She has over five years of work experience in ed-tech and media. At The Indian Express, she writes for the UPSC section. Her interests lie in national and international affairs, governance, economy, and social issues. You can contact her via email: ... Read More
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Business Standard
2 hours ago
- Business Standard
British Airways plans new India flights, eyes cargo opportunities from FTA
British Airways, which has been flying to India for more than 100 years, will look to further expand routes and frequency of flights as well as tap the cargo opportunities from the India-UK free trade agreement, the airline's Chairman and CEO, Sean Doyle has said. Currently, the airline operates 56 flights a week from five Indian cities, including three-weekly flights from Mumbai, double daily services from Delhi. It also has daily flight from Chennai, Bengaluru and Hyderabad. In an exclusive interview to PTI, Doyle said India is a "very, very important" market for British Airways and hopes to continue with expansion in the future in terms of both routes and flight frequencies. From October this year, the airline is set to re-introduce first class seats in one of the flights in the Mumbai-London Heathrow route, after a gap of nearly five years. "I think we want to be part of the growth of aviation in India. We have been part of it for 100 years... about 2,500 people work for British Airways in India... outside of the United States, our biggest single market is India," he said and highlighted that the airline has increased capacity to India by around 25 per cent compared to the pre-coronavirus pandemic levels." Doyle, who is in the national capital to participate in the annual general meeting of the global airlines' grouping IATA, also said that travel demand will catch up very quickly in India in the next decade, especially with a big and emerging middle class who wants to travel. "I think that the growth is going to be incredibly exciting, and something that you won't see. It's a once-in-a-generation growth opportunity here, what's happening in India," he noted. The airline is also bullish about the cargo opportunities between India and the UK, especially in the wake of the Free Trade Agreement (FTA) between the two countries, and expects to transport more cargo. "I expect more cargo being exported from India under the FTA. And I would expect as well that it would be an increase in certain niche exports coming into India as well. Not necessarily out of the UK but also out of the surrounding kind of markets that we serve," he said. On tariff uncertainties, Doyle said that everybody is watching what is happening and the impact. "I was extolling the positives of a free trade agreement between the UK and India, and I think anything which goes in the opposite direction, you obviously look at very closely. Because we've been used to, in the last 40 years, that trade is liberated and opened up," he added. British Airways has increased its weekly flights from India to 56 compared to 46 before the coronavirus pandemic. "I think we've been expanding steadily since the end of the pandemic, and in fact, we're bigger now than we were pre-pandemic, which is quite unique because there's a lot of markets where we haven't really been fully yet. But India is one where we're actually bigger. And we are obviously down to three per day in Mumbai, and we're going to a third daily service in Delhi come winter," Doyle said. Besides, upgradation of the fleet with more wide-body aircraft will help the airline significantly expand its long haul operations that in turn will offer opportunities for strategic markets like India. While stressing that British Airways offers value for money in every segment it serves, Doyle said that since the pandemic, there has been growth in premium leisure travel and that is expected to stay. From October 27, British Airways will re-introduce first class seats in its Boeing 787-9 fleet operating in the Mumbai-London Heathrow route. The airline also offers business, premium economy and economy class seats. To a query about the airline's connecting as well as O&D (Origin & Destination) traffic from India, the British Airways chief said that in the case of mature markets like Delhi and Mumbai, more traffic is O&D traffic that starts and ends in the UK. "If you look at markets like Bangalore and Hyderabad, that still is very much driven by connecting traffic into the United States... as we launch more services into India, and as we add more services into the United States, we give people more of a one-stop solution to get to more places than they can with any other carrier," Doyle said.
