Chola Empire an ancient roadmap for developed India: PM Modi on Tamil dynasty's contributions
Chola Empire
's role in bolstering ancient India's economy and military, describing it as a historical blueprint that serves as an "ancient roadmap" for modern India.
PM Modi also emphasised that for India to build a '
Viksit Bharat
' (Developed India), it must draw inspiration from the Chola Empire's powerful navy by strengthening its defence forces and exploring new opportunities.
Explore courses from Top Institutes in
Please select course:
Select a Course Category
PGDM
Leadership
Others
MBA
Management
CXO
Data Science
Finance
Digital Marketing
Healthcare
Operations Management
Product Management
Data Science
Public Policy
Data Analytics
Project Management
Technology
Artificial Intelligence
healthcare
MCA
Cybersecurity
Degree
others
Design Thinking
Skills you'll gain:
Financial Analysis & Decision Making
Quantitative & Analytical Skills
Organizational Management & Leadership
Innovation & Entrepreneurship
Duration:
24 Months
IMI Delhi
Post Graduate Diploma in Management (Online)
Starts on
Sep 1, 2024
Get Details
The Prime Minister was addressing the public at the valedictory function at the 'Aadi Thiruvathirai' festival on the occasion of the birth anniversary of King
Rajendra Chola I
at the
Gangaikonda Cholapuram
temple in
Tamil Nadu
's Ariyalur.
by Taboola
by Taboola
Sponsored Links
Sponsored Links
Promoted Links
Promoted Links
You May Like
Glīd Technologies Delivers: The World's First Autonomous Dual-Mobile Road-to-Rail Platform - TechBullion
TechBullion
Undo
PM Narendra Modi also released a commemorative coin honouring the great Chola emperor Rajendra Chola I.
"The economic and military heights India reached during the Chola era continue to inspire us even today. Rajaraja Chola built a powerful navy, which he further strengthened. The Chola Empire is like an ancient roadmap for developed India. It tells us that if we have to make 'Viksit Bharat,' then we have to strengthen our navy and defence forces and explore new opportunities. Today, India is embracing the philosophy of Vikas Bhi, Virasat Bhi. Modern India takes great pride in its rich history and cultural legacy. Over the past decade, we have worked tirelessly in mission mode to protect and preserve India's heritage," PM Modi said.
Live Events
The Prime Minister donned traditional attire, consisting of a white veshti (dhoti), a white shirt, and an angavasthram around his neck.
He mentioned that the country has recovered many ancient statues and artefacts that were stolen and sold abroad, and has successfully brought them back to the country in recent years.
"Efforts have been made to recover ancient statues and artefacts that were stolen and sold abroad, and many of these priceless treasures have been successfully brought back to the country. After 2014, more than 600 ancient artefacts and statues have been brought back to India. Out of these, 36 are from the state of Tamil Nadu. The
Shaivite tradition
has greatly influenced India's cultural identity," he said, emphasising that the Chola emperors were important in building and preserving the heritage.
Underscoring the cultural and historical importance of the southern state,
Prime Minister Modi
said that Tamil Nadu remains a centre where the rich traditions of the past continue to thrive.
He also noted that the revered saints from the Shaivite Adheenams led the ceremony with spiritual grace during the inauguration of the new Parliament building.
"During the inauguration of the new Parliament building, the revered saints from our Shaivite Adheenams led the ceremony with spiritual grace. The sacred Sengol, a symbol deeply embedded in Tamil culture, was ceremoniously installed in the new Parliament. Reflecting on that moment today fills me with immense pride. The Chola emperors had woven India into a thread of cultural unity. Today, our government is carrying forward the same vision of the Chola era. Through initiatives like the Kashi-Tamil Sangamam and the Saurashtra-Tamil Sangamam, we are strengthening these centuries-old bonds of unity," he added.
He further mentioned that Rajendra Chola built the magnificent Gangaikonda Cholapuram Temple, which remains an architectural marvel admired worldwide. The Chola Empire's legacy also gave rise to the celebration of the Maa Ganga festival on the land of the sacred river Kaveri, the Prime Minister added.
He was welcomed by the local pandits in the temple. Earlier in the day, crowds thronged to see the Prime Minister as he held a roadshow in the Tiruchirappalli district. His convoy received a warm welcome from the commoners gathered to witness his arrival. The temple, a UNESCO World Heritage Site, is famed for its intricate sculptures, Chola bronzes, and ancient inscriptions. The
Aadi Thiruvathirai festival
also celebrates the rich Tamil Shaiva Bhakti tradition, fervently supported by the Cholas and immortalised by the 63 Nayanmars--the saint-poets of Tamil Shaivism. Notably, Rajendra Chola's birth star, Thiruvathirai (Ardra), begins on July 23, making this year's festival all the more significant.
Hashtags
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Economic Times
9 minutes ago
- Economic Times
Earnings biggest overhang on the market, don't chase recent outperformers: Jimeet Modi
Agencies Multi-Asset Allocation Funds offer a structured and efficient way to achieve this. They provide a disciplined approach to diversification and help retail investors build long-term risk-adjusted wealth. While singling out earnings as the biggest overhang on the market right now, Jimeet Modi, Founder & CEO, SAMCO Group, said valuations have run ahead of reality. "One key mistake retail investors are making today is chasing recent outperformers in the mid- and small-cap space, driven by recency bias. This often leads to overexposure and heightened portfolio risk,' Modi said. Edited excerpts from a chat: The market seems to be in a consolidation mode with downward bias. Is earnings the biggest headache for the market right now? Yes, earnings are clearly the biggest overhang on the market right now. Valuations have run ahead of reality, and with global liquidity tight, investors are no longer rewarding potential — they want performance. The market's downward bias reflects this disappointment. Growth in a few sectors isn't enough to offset weak commentary in IT, realty, and global-facing names. The market is consolidating because it's waiting for clarity and earnings are the filter. This is not panic, it's accountability. For investors, this is the time to separate hype from fundamentals. Stay focused on quality, execution, and margin trends. In markets like these, discipline is your edge, and patience, your biggest is your reading of the Q1 earnings season so far? Why do you think that the recovery that was expected in Q1 is gradually being pushed to Q2? The earnings of Q1 FY26 were underwhelming versus expectations. Sectors like BFSI, auto, and capital goods have shown resilience, broader earnings lacked momentum. The recovery expected in Q1 is now deferred to Q2—not due to structural weakness, but timing pressures played their part. Global demand remains soft, hitting export-oriented sectors like IT, pharma, and textiles. Geopolitical tensions and policy uncertainty dampened capital flows and margin stability across segments signals underlying resilience. As festive demand, inventory normalization, and capex revival take shape, Q2 could bring better visibility. For now, the market is seeking evidence before rewarding growth again. Do you think that earnings are likely to see strong recovery from H2 onwards, given festive demand, impact of rate cuts, tax relief and low base effect? Earnings are likely to see a meaningful recovery in H2, driven by multiple supportive factors. The festive season should boost consumer demand across discretionary and FMCG segments. Additionally, the anticipated rate cuts and recently announced tax relief measures are expected to improve consumption and corporate margins. A favorable base effect from last year's subdued performance is likely to further enhance year-on-year growth visibility. Overall, the macro tailwinds and improved sentiment create a strong setup for earnings momentum to accelerate in the second half of the fiscal year. If you had Rs 10 lakh to invest in the market right now, how would you spread it across gold/silver, equities and debt? Asset allocation drives long-term returns more effectively than stock picking. With ₹10 lakh to invest, a 60-25-15 strategy balances growth and stability. I'd allocate 60% to equities - split into 30% large caps for valuation comfort and defensive strength, 15% mid-caps and 15% small caps to capture high-growth potential. Large caps offer resilience amid inflation and rate cycles. 25% in debt mutual funds cushions volatility, given its low correlation with equities. The remaining 15% goes to precious metals—10% silver and 5% gold—based on silver's industrial demand and a favorable gold-silver ratio. The IT sector has been the biggest loser in 2025 and many stocks are now facing their worst phase since the 2008 crisis. Do you think that more pain is in the offing or valuations have become cheaper now? The Indian IT sector faced a tough first half of 2025, with the Nifty IT index down 24% YTD and its P/E at 25.5x, just above its ten-year average of 24x. Early Q1 earnings held up, but weak US tech budgets and new tariffs cloud the near-term outlook. Industry wide, we expect decent revenue growth in the future, yet stagnant share prices could drive P/Es lower. Still, India's IT firms benefit from lower operating costs and a large, skilled workforce. These structural advantages should support a gradual recovery in H2 2025, making current levels a selective entry point for long-term investors in top-quality IT names. The recovery that we saw in small caps petered out in July, along with selling pressure in blue chips. At a broader segment level, do you think smallcaps are giving buy signals once again? Q4 FY25 earnings came in below expectations, with broad-based profit pressures across the segment. This reinforces the need for caution, even as valuations have moderated post the July correction. The recent dip has reset market expectations, creating a more favourable entry point for sound companies. With India's structural growth drivers intact and domestic liquidity remaining robust, smallcaps could see improved traction in H2 FY26. While near-term volatility and external headwinds may persist, this phase offers a window to gradually accumulate quality businesses with resilient models and clear earnings visibility. What's the one big mistake you think retail investors are making right now and one contrarian idea you'd back for the next 12 months? Diversification into non correlated assets is the best approach. One key mistake retail investors are making today is chasing recent outperformers in the mid- and small-cap space, driven by recency bias. This often leads to overexposure and heightened portfolio risk. A contrarian idea I would back for the next 12 months is to diversify meaningfully across non-correlated assets such as debt, gold, silver, or even U.S. equities to manage volatility and preserve capital. Multi-Asset Allocation Funds offer a structured and efficient way to achieve this. They provide a disciplined approach to diversification and help retail investors build long-term risk-adjusted wealth.
Time of India
26 minutes ago
- Time of India
Raymond Realty shares in focus after Q1 profit more than doubles
Shares of Raymond Realty are likely to be in focus on Wednesday after the company reported a 121.8% year-on-year (YoY) surge in consolidated net profit for the first quarter of FY26, rising to Rs 16.5 crore from Rs 7.4 crore in Q1FY25. In its first earnings report since the demerger from Raymond on May 1, the company posted consolidated revenue of Rs 374.4 crore, up 188.7% YoY. However, on a like-to-like basis (post-demerger), revenue declined 23% YoY, while EBITDA dropped 39% YoY to Rs 41 crore. Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like This new air conditioner cools down a room in just seconds News of the Discovery Undo Explaining the dip, Managing Director Harmohan Sahni told Business Standard, 'We had done a bumper Q3 and Q4 last year and were low on inventory in Q1. Demand was strong, but we didn't have enough inventory to sell. We had to rush to get approvals for fresh launches.' Booking value stood at Rs 306 crore in Q1FY26, down from Rs 611 crore a year ago. Collections also declined to Rs 374 crore from Rs 483 crore in the same period. However, Sahni said pricing remained firm, with realisations up 5% YoY. Raymond Realty's current real estate portfolio has a potential revenue of Rs 40,000 crore, including Rs 25,000 crore from a 100-acre land parcel in Thane. The company is also developing six joint development agreement (JDA) projects with a revenue potential of Rs 14,000 crore. Live Events Also Read: PNB Housing Finance, RBL Bank among 10 small-cap stocks where FIIs increased stake in Q1 Raymond Realty shares technical indicators On the technical side, the stock's relative strength index (RSI) is at 31.9, indicating it is nearing the oversold zone. It is trading above its 5-day and 10-day simple moving averages but below the 20-day average. Raymond Realty share price performance Shares of Raymond Realty closed 4.4% higher at Rs 725.6 on Tuesday, even as the Sensex fell 0.38%. The stock is down 4% over the past two weeks and 22% in the last month. Market capitalisation stands at Rs 4,830 crore. Also Read: These 10 stocks delivered consistent dividend yields over the last 3 years
Time of India
29 minutes ago
- Time of India
Corporate bonds to gain as RBI easing cycle nears, says Suresh Darak of Bondbazaar
As India inches closer to a potential monetary easing cycle, the corporate bond market is poised for renewed momentum. According to Suresh Darak, Founder of Bondbazaar, expectations of rate cuts in late 2025 or early 2026 could significantly boost corporate bond issuance, as companies look to lock in lower borrowing costs. Falling yields on government securities are also likely to drive investor appetite toward high-grade corporate bonds , improving pricing and deepening market participation. In an exclusive conversation, Darak outlines the emerging trends shaping India's bond landscape—from the rise in short-term issuances and evolving retail participation to the growing appeal of ESG bonds. Edited Excerpts – Q) We have already seen 100 bps rate cut from the RBI. Historically, how does a rate cut cycle influence corporate bond issuance in India? Productivity Tool Zero to Hero in Microsoft Excel: Complete Excel guide By Metla Sudha Sekhar View Program Finance Introduction to Technical Analysis & Candlestick Theory By Dinesh Nagpal View Program Finance Financial Literacy i e Lets Crack the Billionaire Code By CA Rahul Gupta View Program Digital Marketing Digital Marketing Masterclass by Neil Patel By Neil Patel View Program Finance Technical Analysis Demystified- A Complete Guide to Trading By Kunal Patel View Program Productivity Tool Excel Essentials to Expert: Your Complete Guide By Study at home View Program Artificial Intelligence AI For Business Professionals Batch 2 By Ansh Mehra View Program by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Instant Payment for Used Cars Cars24 - Sell Your Car Sell Now Undo A) Rate cut cycles have historically had a positive impact on corporate bond issuance in India. As the RBI lowers policy rates, borrowing costs for corporates reduce, prompting companies to tap the bond market for refinancing or expansion at more favourable terms. Simultaneously, falling yields on government securities encourage institutional investors to seek higher returns in AAA rated corporate bonds (led by increase in spread between Gsec and AAA rated bonds), boosting demand and improving pricing for issuers. Bonds Corner Powered By RBI auctions help bring average call rate closer to repo The weighted average call rate remained below the repo rate. The Reserve Bank of India used variable rate repo and reverse-repo auctions. This was to align overnight rates with the policy gauge. In June, the WACR was closer to the lower end of the LAF corridor. The RBI prefers the overnight rate to align with the repo rate. Liquidity still a challenge, but corporate bond market progressing with policy push: Hajra India's top state green energy firm mulls first local bond sale Fibe's NBFC arm raises Rs 225 crore via NCDs to fuel innovation and lending growth Corporate bonds to gain as RBI easing cycle nears, says Suresh Darak of Bondbazaar Browse all Bonds News with Many corporates also use this period to shift from short-term to longer-tenure borrowings. Additionally, investors holding long-dated G-Secs or high-grade bonds often benefit from capital gains in the secondary market as yields fall. Live Events Q) With rate cuts expected, do you foresee a significant uptick in corporate bond issuance in the coming quarters? A) While a rate cut in the upcoming August policy is unlikely, expectations are building for easing to begin in late 2025 or early 2026. Once monetary easing begins, it is likely to trigger a significant uptick in corporate bond issuance, as issuers seek to lock in lower borrowing costs. The shift in interest rate expectations will also improve risk appetite among investors, further supporting issuance volumes. Q) There's been a pick-up in short-term corporate bond issuance recently. What's driving this trend? A) Short-term corporate bond issuance (up to 5 years maturity) has seen a marked rise, largely driven by interest rate expectations and improving liquidity conditions. In May 2025 alone, Indian companies raised ₹61,200 crore via five-year bonds—nearly a threefold jump from ₹21,400 crore in May 2024. Mutual fund allocations to 1–5 year bonds have grown significantly, driven by better system liquidity and attractive spreads of 30–40 basis points over comparable alternatives. Issuers are also preferring shorter tenors amid uncertainty around the timing and quantum of rate cuts. Q) Are retail investors showing interest in short-term corporate bonds or is demand largely institutional? A) Retail participation in corporate bonds has increased meaningfully over the past two years, aided by SEBI's regulatory reforms such as enhanced market accessibility to increase transparency, lowering of Minimum Investment Amount (i.e. Face Value from Rs. 10 Lacs to now Rs. 1 Lacs / Rs. 10,000 / Rs. 1,000) have opened the door for more individual retail investors. Despite this progress, retail investors still account for less than 2% of the overall corporate bond market and institutional investors continue to dominate the market. Q) What's driving the growing popularity of these instruments? What sectors are leading India's ESG bond issuance? A) ESG bonds are swiftly transitioning from a niche product to a mainstream funding tool in India. This shift is driven by growing investor focus on sustainable finance, regulatory clarity from SEBI, and the global push for decarbonisation. SEBI's updated ESG framework has enhanced transparency, enabling issuers to attract a broader and more diverse investor base, often at more competitive pricing. In FY 2025, ESG bond issuance in India stood at ₹8,743 crore across 27 deals, with most issues witnessing strong oversubscription. The renewable energy sector led the charge, with active issuers like ReNew, IREDA, and Avaada. Infrastructure giant L&T raised ₹500 crore through India's first listed sustainability-linked bond (SLB), while the Pimpri Chinchwad Municipal Corporation's green bond issuance of ₹100 crores received 5.13× bids. Recently, Vertis Infrastructure Trust (formerly known as Highways Infrastructure Trust) has successfully raised ₹900 crore through a Sustainability Linked Bond (SLB), marking the largest SLB issuance by an Indian InvIT to date. With growing demand, pricing benefits, and widening sectoral participation, ESG bonds are becoming an increasingly important capital-raising tool for companies focused on sustainable and future-ready business models.
