
World's largest container ship MSC IRINA docks at Vizhinjam port
Proud to welcome MSC Irina, the world's largest container ship with a capacity of 24,346 TEUs, to our Vizhinjam Port. This marks the vessel's maiden visit to South Asian shores, making it a milestone not just for Vizhinjam but for India's emergence as a key player in global… pic.twitter.com/dmSGpwHQfK
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India Gazette
4 hours ago
- India Gazette
India accuses West of double standards on Ukraine and Pakistan
Foreign Minister S. Jaishankar has criticized Western countries for being reluctant to condemn terrorism in Kashmir Indian Foreign Minister S. Jaishankar has said Western countries are hypocritical to expect India to take a strong stance against Russia, while shying away from condemning what New Delhi sees as Pakistan's sponsorship of terrorism in Kashmir. In an interview with Euractiv on Tuesday, Jaishankar reiterated that India refuses to take sides in the Russia-Ukraine conflict. "We don't believe that differences can be resolved through war - we don't believe a solution will come from the battlefield," he said. "It's not for us to prescribe what that solution should be. My point is, we're not being prescriptive or judgmental - but we are also not uninvolved." Jaishankar added that India is justified in questioning the West's moral authority regarding international matters, given their past actions. "India has the longest-standing grievance - our borders were violated just months after independence, when Pakistan sent in invaders to Kashmir. And the countries that were most supportive of that? Western countries," he said. "If those same countries - who were evasive or reticent then - now say 'let's have a great conversation about international principles,' I think I'm justified in asking them to reflect on their own past." Jaishankar went on to say that India has a strong relationship with both Russia and Ukraine, adding that every country has its own history and interests. The foreign minister is on a one-week visit to Europe. This comes as India is involved in negotiations with the EU on a free trade agreement with the South Asian nation, according to media reports. The trip comes close on the heels of a visit to India by a delegation led by European Commission President Ursula von der Leyen to hammer out a trade deal. The EU has been critical of New Delhi's lack of support for Western sanctions against Moscow. India remains one of the largest buyers of Russian oil, despite the sweeping sanctions imposed by Western governments on Russia's energy and financial sectors. (

Time of India
8 hours ago
- Time of India
Pakistan's Budget After Op Sindoor Prioritises Defence Over Development Amid Soaring Debt, IMF Watch
Pakistan has unveiled a PKR 17.573 trillion ($62B) budget for FY26, sharply increasing defence spending by 20% despite a crippling PKR 76,000 billion ($270B) debt and economic instability. Prime Minister Shehbaz Sharif's government slashed overall expenditure by 7% but allocated over $11.67 billion to the military, excluding pensions. This move follows last month's military tensions with India over the Pahalgam terror attack. While Pakistan projects 4.2% growth next year, the actual growth for this year stands at just 2.7% — well below the South Asian average. Finance Minister Muhammad Aurangzeb claims the budget aims to reset the economy's DNA, boost exports, and stabilize reserves. However, economists remain sceptical, warning that IMF-mandated reforms and structural weaknesses continue to weigh down recovery efforts. Is Pakistan choosing military might over economic revival? Watch the full analysis.#pakistan #pakistanbudget2025 #pakistandebtcrisis #defencespending #imfpakistan #pahalgamattack #militaryoverdevelopment #shehbazsharif #pakistaneconomy #aurangzebbudget #indiarelations #toi #toibharat #bharat #breakingnews #indianews Read More


NDTV
10 hours ago
- NDTV
Guns Over Growth? Pak Hikes Defence Budget By 20%, Slashes Overall Spending
Pakistan, whose overall debt has increased to nearly PKR 76,000 billion (approx USD 270 billion) in the first nine months of the current fiscal year, seems to be prioritising its military spending over development in the aftermath of a military clash with India last month. The budget presented on Tuesday by Prime Minister Shehbaz Sharif's government saw a whopping 20 per cent hike in defence spending, but the overall expenditure has been slashed by 7 per cent. Pakistan Finance Minister Muhammad Aurangzeb hoped his ambitious PKR 17.573 trillion ($62 billion) proposal would drive economic growth by 4.2 per cent in the coming fiscal year, saying Islamabad has steadied the economy, which looked at risk of defaulting on its debts as recently as 2023. Pakistan also projected a deficit of 3.9 per cent of GDP (gross domestic product) against the 5.9 per cent targeted for 2024-25. Inflation was projected at 7.5 per cent and growth at 4.2 per cent. But, the growth this fiscal year is likely to be 2.7 per cent, against the budgeted target of 3.6 per cent, according to news agency Reuters. Pakistan's growth lags far behind the region. In 2024, South Asian countries grew by an average of 5.8 per cent, and the Asian Development Bank expects 6.0 per cent in 2025. Defence Spending The new budget allocated 2.55 trillion rupees ($9 billion) to defence in July-June 2025-26, up from 2.12 trillion. This excludes 742 billion Pakistani rupees ($2.63 billion) allocated to military pensions, taking the entire defence budget to 3.292 trillion Pakistani rupees ($11.67 billion). The budget also includes 704 billion Pakistani rupees ($2.5 billion) in spending on equipment and other physical assets. Prime Minister Sharif, in a statement, said Pakistan need to surpass India "in the economic field." The clashes with India were sparked in April after the terrorist attack in Jammu and Kashmir's Pahalgam killed 26 people. India has blamed Pakistan for backing terrorists who carried out the attack. Toeing To IMF Terms Islamabad last month received $2.4bn in financial aid from the International Monetary Fund (IMF). Islamabad has said that it was committed to preparing the FY26 budget "in close consultation with the Fund." Finance Minister Muhammad Aurangzeb said the government intended to complete the privatisation of Pakistan International Airlines, a request of the IMF. Growth should be aided by a sharp drop in the cost of borrowing, the government says, after a succession of interest rate cuts. But economists warn that monetary policy alone may not be enough, with fiscal constraints and IMF-mandated reforms still weighing on investment. Aurangzeb said that the budget was the start of a strategy to boost exports, increase foreign currency reserves to avoid the balance of payments crises of the past, and create a more competitive economy. "In short, our budget strategy is to change the economy's DNA by bringing basic changes," he said.