logo
Renowned economist Meghnad Desai passes away at 85; PM Modi condoles his demise

Renowned economist Meghnad Desai passes away at 85; PM Modi condoles his demise

Times of Oman5 days ago
New Delhi : Distinguished Indian-origin economist, author, and member of the UK House of Lords, Lord Meghnad Desai, passed away at the age of 85 on Tuesday, prompting an outpouring of condolences from across the world, including Prime Minister Narendra Modi and the British High Commissioner to India, Lindy Cameron.
Born as Meghnad Jagdishchandra Desai in 1940 in Vadodara, the economist began his academic journey in economics at the University of Mumbai, where he earned both his Bachelor's and Master's degrees, following which he received a scholarship to the University of Pennsylvania, completing his PhD in economics in 1963, three years after enrolling.
Following the news of his demise, PM Modi expressed grief and recalled his valuable contributions to economic thought and India-UK relations.
"Anguished by the passing away of Shri Meghnad Desai Ji, a distinguished thinker, writer and economist. He always remained connected to India and Indian culture. He also played a role in deepening India-UK ties. Will fondly recall our discussions, where he shared his valuable insights. Condolences to his family and friends. Om Shanti," PM Modi stated in a post on X.
The British High Commissioner to India also expressed her condolences over Desai's demise, stating, "RIP Lord Desai. Thoughts with Kishwar Desai and his wider family and friends. Such fond memories of watching the UK general election with him last year," in a post on X.
"So sad to learn Lord Meghnad Desai passed away in Delhi this evening. First Indian Labour Party Peer, Professor Emeritus LSE, renowned economist and author. A passionate advocate for UK-India links. Thoughts of all UK in India with his wife Lady Kishwar and their children," the Deputy High Commissioner of the UK to India, Christina Scott, stated in a post on X.
The High Commission of India in London also paid tribute to Desai, noting that he had championed the strong and lasting ties between India and the UK and that his contributions would continue to inspire diplomats, academics, and thought leaders in both nations.
"The High Commission of India in London is deeply saddened by the passing of Lord Meghnad Desai. A teacher, scholar, thought leader and great advocate of the enduring friendship between India and the UK. Lord Desai's work will be cherished by generations of diplomats, scholars and thought leaders in both countries. His role in the installation of a statue of Mahatma Gandhi at Parliament Square in London ensures that his legacy will endure," the High Commission of India in London stated in a post on X.
Desai was elevated to the UK House of Lords in 1991, where he served as the first Indian-origin peer from the Labour Party. He held the title of Professor Emeritus at the London School of Economics (LSE) and was widely respected for his academic contributions and public policy insights.
Orange background

Try Our AI Features

Explore what Daily8 AI can do for you:

Comments

No comments yet...

Related Articles

Philippines President to visit India from August 4-8, set to hold talks with PM Modi, Murmu
Philippines President to visit India from August 4-8, set to hold talks with PM Modi, Murmu

Times of Oman

time8 hours ago

  • Times of Oman

Philippines President to visit India from August 4-8, set to hold talks with PM Modi, Murmu

New Delhi: Philippines President Ferdinand Romualdez Marcos Jr is set to visit India from August 4-8, and hold talks with President Droupadi Murmu, Prime Minister Narendra Modi and other officials. Marcos after arrival in New Delhi on August 4 will meet with External Affairs Minister S Jaishankar. On August 5, he will lay a wreath at Rajghat. Marcos will then hold talks with PM Modi in Hyderabad House. Exchange of Memoranda of Understanding and Press Statements will take place thereafter. Marcos will then meet JP Nadda, Minister of Health and Family Welfare and thereafter President Droupadi Murmu. The Philippines' President will then travel to Bengaluru and meet Karnataka Governor Thawar Chand Gehlot. At the invitation of Prime Minister Narendra Modi, Ferdinand R Marcos Jr will pay a State Visit to India, a statement by the Ministry of External Affairs said on Thursday. This would be the first visit of Marcos to India since the assumption of office of the President of the Philippines. Diplomatic relations between India and the Philippines were established in November 1949. Both countries have since developed a strong partnership across a broad spectrum of areas, including trade and investment, defence and security, maritime cooperation, agriculture, healthcare, pharmaceuticals and digital technologies. The two countries also engage closely at the regional level, including through India's Comprehensive Strategic Partnership with ASEAN. The statement added that India's relations with the Philippines are an integral pillar of our 'Act East' Policy, Vision MAHASAGAR and our vision of the Indo-Pacific. The forthcoming State Visit of President Marcos coincides with the 75th anniversary of India-Philippines diplomatic relations. The visit is an opportunity for both leaders to set the path for future bilateral cooperation and to engage on regional and international issues of mutual interest, it added. India and the Philippines share warm and multifaceted bilateral relations rooted in historical ties and shared democratic values. Cooperation spans various sectors, including defence, trade, investment, and cultural exchange.

Filmmakers try to cash in on India-Pakistan battle
Filmmakers try to cash in on India-Pakistan battle

Observer

time11 hours ago

  • Observer

Filmmakers try to cash in on India-Pakistan battle

Mumbai - Indian filmmakers are locking up the rights to movie titles that can profit from the patriotism fanned by a four-day conflict with Pakistan, which killed more than 70 people. The nuclear-armed rivals exchanged artillery, drone, and air strikes in May, after India blamed Pakistan for an armed attack on tourists in Indian-administered Kashmir. The fighting came to an end when US President Donald Trump announced a surprise ceasefire. Now, some Bollywood filmmakers see an opportunity to cash in on the battle. India tagged its military action against Pakistan 'Operation Sindoor', the Hindi word for vermilion, which married Hindu women wear on their foreheads. The name was seen as a symbol of Delhi's determination to avenge those widowed in the April 22 attack in Kashmir's Pahalgam, which sparked the hostilities. Film studios have registered a slew of titles evoking the operation, including: 'Mission Sindoor', 'Sindoor: The Revenge', 'The Pahalgam Terror', and 'Sindoor Operation'. "It's a story which needs to be told," said director Vivek Agnihotri. "If it were Hollywood, they would have made 10 films on this subject. People want to know what happened behind the scenes," he told AFP. Agnihotri struck box office success with his 2022 release, "The Kashmir Files", based on the mass flight of Hindus from Kashmir in the 1990s. - Coloured narratives - The ruling Bharatiya Janata Party gave that film a glowing endorsement, despite accusations that it aimed to stir up hatred against India's minority. Since Hindu nationalist Prime Minister Narendra Modi took office in 2014, some critics say Bollywood is increasingly promoting his government's ideology. Raja Sen, a film critic and screenwriter, said filmmakers felt emboldened by an amenable government. "We tried to wage a war, and then we quietened down when Trump asked us to. So what is the valour here?" Sen told AFP of the Pakistan clashes. Anil Sharma, known for directing rabble-rousing movies, criticised the apparent rush to make films related to the Pahalgam attack. "This is herd mentality... these are seasonal filmmakers, they have their constraints," he said. "I don't wait for an incident to happen and then make a film based on that. A subject should evoke feelings and only then cinema happens," said Sharma. Sharma's historical action flick "Gadar: Ek Prem Katha" (2001) and its sequel "Gadar 2" (2023), both featuring Sunny Deol in lead roles, were big hits. In Bollywood, filmmakers often seek to time releases for national holidays like Independence Day, which are associated with heightened patriotic fervour. "Fighter", featuring big stars Hrithik Roshan and Deepika Padukone, was released on the eve of India's Republic Day on January 25 last year. - Anti-Muslim bias - Though not a factual retelling, it drew heavily from India's 2019 airstrike on Pakistan's Balakot. The film received mixed-to-positive reviews but raked in $28 million in India, making it the fourth highest-grossing Hindi film of that year. This year, "Chhaava", a drama based on the life of Sambhaji Maharaj, a ruler of the Maratha Empire, became the highest-grossing film so far this year. It also generated significant criticism for fuelling anti-Muslim bias. "This is at a time when cinema is aggressively painting Muslim kings and leaders in violent light," said Sen. "This is where those who are telling the stories need to be responsible about which stories they choose to tell." Sen said filmmakers were reluctant to choose topics that are "against the establishment". "If the public is flooded with dozens of films that are all trying to serve an agenda, without the other side allowed to make itself heard, then that propaganda and misinformation enters the public psyche," he said. Acclaimed director Rakeysh Omprakash Mehra said true patriotism is promoting peace and harmony through the medium of cinema. Mehra's socio-political drama "Rang De Basanti" (2006) won the National Film Award for Best Popular Film and was chosen as India's official entry for the Golden Globe Awards and the Academy Awards in the Best Foreign Language Film category. "How we can arrive at peace and build a better society? How can we learn to love our neighbours?" he asked. "For me that is patriotism."

India's domestic demand shields economy from tariff impact: BoB Chief Economist
India's domestic demand shields economy from tariff impact: BoB Chief Economist

Times of Oman

time14 hours ago

  • Times of Oman

India's domestic demand shields economy from tariff impact: BoB Chief Economist

New Delhi: India's reliance on domestic consumption rather than exports is a key strength in navigating the recently imposed reciprocal tariff, said Madan Sabnavis, Chief Economist at Bank of Baroda. Speaking during a webinar on the impact of Tariffs on India, Sabnavis highlighted that India's non-export-oriented nature makes its economy more resilient to external shocks arising due to the imposition of tariffs. "Since we are not an export-oriented economy, it is becoming advantageous for us because we are more dependent on domestic consumption," said the Bank of Baroda Chief Economist. For context, on Wednesday, US President Donald Trump announced the imposition of 25 per cent tariffs on Indian goods plus an unspecified penalty, even as there were hopes of an interim India-US trade deal that would have otherwise helped avoid elevated tariffs. On April 2, 2025, President Trump signed an executive order for reciprocal tariffs on various trade partners, imposing varied tariffs in the range of 10-50 per cent. As per the BoB, under the base case scenario, a 10 per cent decline in exports could lower GDP by about 0.2 per cent. However, Bank of Baroda's GDP growth forecast of 6.4-6.6 per cent already factors in this risk, which was released earlier. India's export-to-GDP ratio stands at 21 per cent, with services making up 47 per cent of total exports, which makes overall exports relatively insulated, the presentation at the webinar showed. According to the BoB, the Consumer Price Index (CPI) is not expected to rise in the near term, though about 10 per cent of the Wholesale Price Index (WPI) basket could be affected by imported inflation. Some industries may face higher input costs, which could impact profit margins, the bank's presentation added. The BoB assumes that the current account deficit (CAD) is expected to stay below 1 per cent of GDP. Talking about the trade figures, India's export reliance on the USA is high at 19.8 per cent. India's import reliance is lower at 6.3 per cent. The BoB added that in terms of exposure of the export basket, industries such as electronic goods, marine products, readymade garments, gems and jewellery, chemicals, poultry, etc, might face a dent. In terms of tariff rate, clarity is awaited regarding the exemption, which might again be fruitful, the chief economist of BoB added. He further supported that India's significant reliance on service exports also cushions the economy in this volatile tariff environment imposed especially on goods.

DOWNLOAD THE APP

Get Started Now: Download the App

Ready to dive into a world of global content with local flavor? Download Daily8 app today from your preferred app store and start exploring.
app-storeplay-store