Coast Guards of India, Sri Lanka vow to strengthen maritime partnership
According to the Ministry of Defence, discussions focused on enhancing cooperation in marine pollution response, maritime search and rescue, maritime law enforcement, and expanding capacity building and technical assistance. The Sri Lankan delegation was led by Director General Rear Admiral Y.R. Serasinghe, while the Indian side was headed by ICG Director General Paramesh Sivamani. Both sides reaffirmed their commitment to address contemporary maritime challenges and promote safety, security, and environmental protection in their shared waters.
The meeting reinforced plans for deeper operational coordination, sharing of best practices, and sustained efforts towards regional maritime stability. The SLCG delegation is visiting India from August 10–14 for the talks and other professional exchanges under a 2018 Memorandum of Understanding between the two coast guards, said the Defence Ministry.
Separately, the 5th India–Uzbekistan Joint Working Group on Defence Cooperation was also held in New Delhi on Monday. Joint Secretary (International Cooperation) Vishwesh Negi and Uzbekistan's Head of the Central Department for International Military Cooperation, Col. Zafaron Tokhirov, led the delegations. Talks covered defence and industrial collaboration, training, capacity building, and exchange programmes.
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Indian Express
15 minutes ago
- Indian Express
Make in India push in PM Modi's I-Day speech reflects tactical response to rising protectionism and tariff wars
By Soumya Bhowmick On August 15, 2025, Prime Minister Narendra Modi delivered a landmark speech that went beyond nostalgia, framing a vision directly attuned to today's economic realities. His call for 'daam kam, dum zyada' (lower price, higher quality) is more than a slogan — it is a tactical response to a global environment marked by rising protectionism and tariff wars, which are forcing nations to rethink their economic strategies. While India pursued export-led growth through special economic zones, trade agreements, and production clusters geared toward international markets, the emphasis is now also shifting towards supply-chain reforms, infrastructure upgrades, and financial support being reoriented to serve Indian consumers first. This pivot ensures that India's growth narrative is increasingly defined by its existing strong point as a consumption-driven economy rather than an export-dependent one. Private consumption accounted for over 61.4 per cent of GDP in FY2025, reaching levels not witnessed in two decades. Unlike countries highly reliant on export markets, vulnerable to external shocks and geopolitical changes, India's economic resilience is underpinned by the spending power of its 1.4 billion citizens. Further strengthening this foundation is India's demographic advantage. Over half the population is under 30 years old, and the middle class is projected to add 75 million middle-income and 25 million affluent households by 2030, making these segments 56 per cent of the population. This growing affluence fuels consumption-led industrial capacity, which in turn generates jobs and rises income, perpetuating positive growth cycles. Central to Modi's strategy is the Production Linked Incentive (PLI) scheme, designed to leverage this huge domestic market into global manufacturing strength. The PLI programme is reported to have attracted investments worth Rs 1.76 lakh crore, created lakhs of jobs, and boosted exports. Electronics manufacturing is a standout example, with smartphone exports surging as India shifts from a net importer to a significant exporter in the domain. The unique feature of PLI lies in its incentive structure with rewards tied to incremental sales of locally made goods, encouraging companies to build scale that serves both domestic and international markets. This model moves away from traditional low-cost export strategies and instead builds on India's vast consumption base to achieve economies of scale, driving down costs while improving quality. This focus on scale and quality also underpins the semiconductor industry's rapid growth – India's first domestically made semiconductor chips are expected by the end of 2025. Investments by firms like Micron and Tata Electronics are laying the groundwork for fabrication facilities primarily serving an electronics market hungry for self-sufficiency. The country is also set to increase nuclear energy capacity tenfold by 2047 through the construction of 10 reactors. Complementing this are missions to explore deepwater energy resources and expand renewable infrastructure, including hydro and solar power. A strategic highlight is the National Critical Minerals Mission, aiming to fill gaps in lithium, cobalt, and rare earth supply chains, crucial to India's electric vehicle and renewable ambitions amid global resource nationalism. However, India's path is not without challenges. Structural issues like infrastructural bottlenecks, regulatory hurdles, and shortages of skilled labour threaten to inhibit rapid scaling unless addressed urgently. Reforms beyond tariffs and subsidies, towards fostering dynamic comparative advantages, remain imperative. While digital innovations like UPI and the JAM trinity showcase India's inventive capacity, replicating such success in manufacturing demands consistent policy support and efficient execution. The Make in India 2.0 framework that emerged from the Prime Minister's Independence Day speech underlines that rather than competing solely on low costs, India is positioning itself to compete on value proposition — combining reasonable costs with high quality, technological sophistication, and innovative solutions. The emphasis on 'vocal for local' and 'swadeshi' manufacturing creates a virtuous cycle where domestic preference drives scale, scale drives competitiveness, and competitiveness enables global market penetration. This approach proves particularly relevant as global supply chains fragment and countries prioritise supply security over cost optimisation. 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Business Standard
15 minutes ago
- Business Standard
Govt to set up task force for next-generation reforms, says PM Modi
The government will set up a task force for the next-generation reforms aimed at overhauling laws, rules, and procedures governing economic activity, Prime Minister Narendra Modi said in his Independence Day address on Friday. The Prime Minister said the task force would complete its work within a set time frame. 'Current rules, laws, policies, and procedures must be re-drafted to suit the 21st century, fit the global environment, and align with the vision of making Bharat a developed nation by 2047,' Modi said. As a result of these reforms, the Prime Minister said, start-ups, small and cottage industries, and entrepreneurs would see a significant reduction in compliance costs. Changes in logistics and systems would also give a major advantage in the field of exports. 'These reforms will give courage to all those who wish to shape their future,' he added. He noted that the government had already abolished more than 40,000 unnecessary compliances and 1,500 outdated laws, and, in the latest parliamentary session, over 280 provisions were removed. During his address, the Prime Minister said that global rating agencies constantly praised India, expressing growing confidence in the Indian economy. 'Today the entire world is confident about India's economy and economic condition. Amid so much instability, India's financial discipline, the energy of India's finance, remains a ray of hope,' he said. On Thursday, S&P Global Ratings raised India's long-term sovereign credit rating by a notch to 'BBB' from the lowest investment grade of 'BBB-' with a stable outlook. The upgrade came after a gap of 18 years, citing the country's economic resilience, sustained fiscal consolidation, and improved quality of public spending. Modi also stressed that India's inflation was under control, foreign exchange reserves were healthy, and macroeconomic indicators remained strong. 'We are making new efforts in this direction so that the benefits of this growing economy reach the poor of my country, the farmers of my country, the women power of my country, the middle class of my country, and it becomes a source of strength for the development of my country,' he said in his Independence Day speech.
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Business Standard
15 minutes ago
- Business Standard
H-1B visa revamp may leave fresh graduates with no shot at US jobs: Decoded
On August 8, the US Office of Information and Regulatory Affairs (OMB) approved a proposal to change H-1B visa rules, a move that could make it harder for fresh graduates to secure a visa. The plan, titled 'Weighted Selection Process for Registrants and Petitioners Seeking to File Cap-Subject H-1B Petitions,' is now with the US Citizenship and Immigration Services (USCIS) and will soon be opened for public comment. What are the H-1B visa changes? 'While the text of the proposed rule has not yet been released, the proposal could potentially replace the current random H-1B lottery system with a wage-based selection process,' said Sheela Murthy, president and CEO of the Murthy Law Firm. It is expected to revive a move from Donald Trump's first term that would have ranked petitions by the wages offered. 'In January 2021, near the end of Trump's first term in office, he unsuccessfully attempted to implement a rule that would have tied the H-1B lottery selection process to the wage level. Presumably, the new rule will be similar to the 2021 rule,' Joel Yanovich, attorney at the Murthy Law Firm told Business Standard. H-1B Visa: From lottery to wage-based selection 'Right now, the H-1B selection is like a lucky draw — you enter the lottery and hope your name comes up. Under the wage-based system, luck takes a back seat. USCIS would see the salaries being offered for H-1B visas and select applications starting from the highest going down until the annual cap was exhausted,' Sanjay Laul, founder of MSM Unify explained to Business Standard. Currently, the lottery is triggered when applications exceed the annual cap of 85,000 visas — 65,000 for regular applicants and 20,000 for those with a US master's degree or higher. If this happens, USCIS runs a computerised draw to decide who can proceed. The programme is heavily used by the technology sector. 'If the rule is substantially similar to the 2021 rule, cap-subject H-1B petitions filed for entry-level positions would likely have next-to-no chance of being selected. This would undoubtedly harm foreign nationals who are recent graduates,' said Yanovich. Four wage tiers The four tiers come from the US Department of Labor's prevailing wage levels for a given job and location: Level 1: Entry-level pay for the position Level 2: Qualified workers with some experience Level 3: Experienced workers with advanced skills Level 4: Highly specialised, senior workers Under the 2021 plan, level 4 roles would be selected first, followed by lower levels. 'The change applies both to the regular cap (65,000 visas) and advanced degree exemption (20,000 visas for holders of US master's degrees), thereby fundamentally altering how all H-1B slots are distributed. Employers will also be required to substantiate their claims concerning wages with documents such as the Labour Condition Application, prevailing wage data, and proof of the actual offer to the applicant,' said Laul. Impact on Indian applicants 'Indian professionals, especially in IT, have dominated H-1B numbers for years — roughly seven out of every ten visas go to Indian nationals. With the new system, the higher-paying roles, often in big US tech companies, will be first in line. That means applicants in mid-level service roles, which are common in the IT services industry, may find it tougher,' said Laul. He added that India could still remain the top recipient, but competition among Indian applicants themselves would be sharper. Sectors such as AI, fintech and biotech, where salaries are higher, could see more representation. In the 2023 financial year, around 191,000 H-1B visas went to Indian nationals. This rose to about 207,000 in FY 2024. Your salary will be your ticket 'In this new setup, your salary isn't just your pay — it's your ticket in. If you can move to an employer that pays at the top of the scale or negotiate a bump before applying, your odds go up. Location matters too. A software role in San Francisco will have a higher prevailing wage than the same role in a smaller city. And if you can upskill into niche, in-demand areas like AI engineering or cloud architecture, you're automatically in a higher-wage bracket. It's all about positioning yourself where the wages and the chances are better,' Laul explained. Big fish eats the small Big tech companies can pay top rates and will naturally rank higher under this system. 'Smaller businesses and startups, even if they're doing great work, might not be able to match those salaries, which means fewer chances for them to bring in global talent. It could make the H-1B pool more elite, but also less diverse in terms of company size and industry,' said Laul. Will the proposal need congressional approval? 'The rule would not need congressional approval. But, if the rule does not comply with the framework of the H-1B programme as set by Congress in the statute that created it, the rule could be struck down by a federal court,' said Yanovich. Murthy said that while the proposal signals possible changes to H-1B selection, it is just the start of a long regulatory process. 'Without access to the actual rule text and given the multiple steps required for finalisation, it remains uncertain whether, when, or in what form these changes might be implemented,' she said.
