Latest news with #Galwan
Time of India
5 days ago
- Business
- Time of India
India Revokes Security Clearance for Turkish Firm Celebi: A Shift in Geopolitical Strategy, ET Infra
Highlights India's revocation of Celebi Aviation's security clearance signals a strategic shift after Turkey backed Pakistan during 'Operation Sindoor.' Experts like Jitender Bhargava say the move, driven by national security, was overdue. Legal voices assert the decision won't dent India's investment image, as security clearances reflect evolving geopolitical realities. Advt Advt By , ETInfra NEW DELHI: The decision of the government to revoke the security clearance to Turkish-origin ground handling firm Celebi, which until very recently operated at nine Indian airports, is not expected to have any long-term impact on foreign investments in the country and signals a recalibration in India's geopolitical the Galwan skirmish with China in 2020, the Indian government had taken measures to restrict investment of Chinese companies in India, indicating that hostilities and commercial relations cannot go together. Recent action against Celebi has been undertaken after Turkey provided diplomatic and military support to Pakistan against India during ' Operation Sindoor Apart from civilian passenger aircraft and at airports, Celebi also provided ground handling services for Indian military and government aircraft, according to the company's website.'India's decision to terminate ground handling agreements with Celebi Aviation signifies a strategic recalibration of its aviation and geopolitical priorities. The decision to discontinue Celebi arrangements is a significant step and reflects India's priority for the security and safety of its citizens,' said Poonam Verma Sengupta, Partner, JSA Advocates & Bhargava, aviation sector expert and former executive director of Air India backed the decision of the government highlighting that the decision should have been undertaken much earlier.'The ground handling firm can have an agreement with the airport operators or the airlines but the government action on the grounds of national security will have greater supremacy,' said is not the first time that developments in the Indian aviation sector which had a Turkish connection raised security 2022, Tata Group's appointment of former Turkish Airlines Chairman Ilker Ayci as managing director and chief executive officer at Air India, drew a lot of criticism and concerns. Reports alleged Ayci's had a role in facilitating investments of Egyptian-born Saudi Arabian national Yasin al-Qadi, who was earlier designated as a financier for Al-Qaeda by the US Treasury and the United Nations. Due to intense media scrutiny in India, Ayci later declined to accept the post offered by the Tata Ayci's earlier role as an advisor to Turkish President Recep Tayyip Erdoğan, also raised red flags in India.'Erdoğan has not been very hospitable to India, especially after the revocation of Article 370 in Kashmir, and his policy towards India is having a significant impact,' said diplomatic relations with Turkey have strained since 2019, with a noticeable shift in Turkey's foreign policy. The Turkish President over the years has expanded the country's diplomatic and military relations with Pakistan and has termed Kashmir as a disputed territory, which India strongly Hemant Sahai, Founding Partner at HSA Advocates, who specialises in legal issues related to energy and infrastructure as well as regulatory and dispute resolution, expects the Celebi incident not to dent India's credential as an investment destination.'In my view, this decision will not have any long-term negative impact on foreign investments into India. Security clearances are inherently subjective and must be tested from time to time on the touchstone of geopolitics and strategic considerations,' said has legally challenged the decision taken by the Bureau of Civil Aviation Security, highlighting that it has been regularly audited by Indian aviation and security authorities, and maintained full compliance with Indian aviation, national security, and tax regulations, and provided complete transparency.
Economic Times
16-05-2025
- Business
- Economic Times
India-Pak wars won't stop at LoC, they'll hit the economy hard, from trade to balance sheets
All wars are economically destructive. A full-blown India-Pakistan conflict would be no different. Its consequences wouldn't stay limited to LoC. They would jolt India's economy, the world's fastest-growing large economy, rupturing key arteries and showing up clearly on balance sheets. Therefore, India has more to lose than Pakistan, and a war would result in industries haemorrhaging, investor sentiment shaken and GDP growth wars are not waged solely with tanks and missiles. They scorch fiscal budgets, fracture trade corridors and unsettle capital markets. Economists forecast that a sustained India-Pakistan conflict could wipe out 1.5-3% of India's GDP. Based on anticipated FY26 GDP of ₹300 lakh cr, that's an economic loss of up to ₹9 lakh cr, roughly the size of some national budgets. Since border tensions escalated earlier this month, the rupee has plunged to ₹85.57 a dollar, its steepest fall in recent years. FIIs have pulled out $1.7 bn within two weeks. Historical warnings paint a clear picture: Kargil war (1999) cost over ₹5,000 cr. That's a fraction of what a modern-day conflict would demand. Galwan clash (2020) with China caused momentary market tremors. But a two-front war involving Pakistan could inflict deeper, longer scars. Uri surgical strikes (2016) triggered an immediate 2% decline in equity indices, and 1.6% fall in the rupee. Analysts fear that today, with greater capital market exposure and tighter global interlinkages, the same events would have 2-3x the financial impact. Many sectors are vulnerable to immediate shocks. Trade and logistics: Although formal trade with Pakistan remains symbolic post-2019, war hampers vital trade infra. Kandla, Mundra and Mumbai face threats of shipping insurance premiums and logistical bottlenecks. India's connectivity with Central Asia, already under strain, may be choked. Tourism and hospitality: In FY24, the sector generated over ₹16 lakh cr in revenue. A full-scale war could vaporise ₹2 lakh cr from this, with cancellations cascading across airlines, hotels and allied services. Energy and commodities: India imports more than 80% of its crude oil. In the event of war, crude prices could soar by $10-15 a barrel, inflating India's CAD by 0.4% of GDP and stoking consumer inflation by up to 0.6%, according to RBI estimates. Transport network: Disruptions in road, rail and air networks, coupled with volatile raw material prices, could cripple MSMEs, as many of them lack the capital buffers to survive prolonged crises. Many analysts estimate a potential 20% contraction in output if war drags beyond six weeks. Finance: Capital markets abhor uncertainty. In previous episodes of conflict, equity indices slid by 5-8% in the immediate aftermath of escalation. While domestic institutions have stabilised recent declines, foreign investors remain skittish. Global funds with ESG mandates are reassessing allocations, wary of reputational and regulatory risks. Real estate: This sector, especially in tier-1 cities, could experience a temporary freeze, as buyers delay big-ticket purchases amid uncertainty. Meanwhile, the startup ecosystem, fuelled largely by overseas capital, might face a funding winter if the perception of India as a stable investment destination dims. Here's a playbook for corporate preparedness: Bolster liquidity buffers: Preserve cash, enhance working capital and avoid discretionary capex. Liquidity is not optional in wartime economics - it's existential. Reconfigure supply chains: India Inc must reduce dependence on single-route imports and explore decentralised procurement, across Asean, Latin America and Africa. Scenario planning: Conduct war simulations, not just cyber drills. From workforce safety protocols to customer communication strategies, every node of the organisation must be battle-ready. Secure digital fortresses: Cyberattacks are a silent artillery in modern warfare. Strengthening firewalls, tightening access controls and running intrusion audits are no longer the chief information security officer's (CISO) job alone - it's the CEO's imperative. Strengthen communication: False news and misinformation thrive in uncertainty. Transparent, frequent communication with staff, especially frontline and remote employees, builds resilience and GoI can deploy fiscal stimuli, slash fuel excise duties or issue war bonds, businesses must proactively adopt an austerity-plus-agility framework. Sectoral ministries and industry chambers must work together on contingency planning - from logistics to legal frameworks, insurance to import and MSMEs, usually the worst hit, should be granted war insurance packages, working capital credit extensions and deferred GST filings. A dedicated economic continuity taskforce could play a critical role in policy are antithetical to economic progress. But preparedness is not paranoia, it's prudence. For businesses, this is a moment not just to protect profits but to prove purpose. Winners in wartime are not those who merely survive, but those who adapt, tweak and emerge more resilient. The economy may not fire the first shot. But it certainly bleeds the longest.
Time of India
10-05-2025
- Politics
- Time of India
Eye on Bangladesh & China, eastern sector on toes amid escalating India-Pakistan tensions
GUWAHATI: India's eastern sector, encompassing international borders with China, Bangladesh, Bhutan and Myanmar, is under heightened security and surveillance following Operation Sindoor against Pakistan and the need to ramp up preparedness for a multi-front threat. A top security source said the current situation along Northeastern borders presents a complex security landscape where China's threat, while serious, is more about strategic encirclement and military posturing. Operation Sindoor India's air defence systems shoot down Pak drones in J&K, Punjab & Rajasthan India-Pakistan tensions: Delhi airport issues travel advisory Operation Sindoor: Multiple explosions heard at several Pakistan air bases By contrast, Bangladesh's ISI-backed terror modules appear to pose a more direct threat to Northeast's security due to proximity, historical precedent, and ongoing activities. "Operation Sindoor has escalated tensions, creating a volatile environment where Pakistan may seek to exploit Bangladesh as a proxy to pressure India, particularly in Northeast," the military source said. The LAC with China remains calm but tense, with no major escalations since 2020 Galwan clash. Meghalaya's West Jaintia Hills district administration Thursday imposed night curfew along the Bangladesh border, saying this stretch was unfenced and highly prone to infiltration by illegal migrants. These could include members of organised crime rings with links to anti-national elements, including militant groups, who could gather in large numbers near the border at night to continue their nefarious activities. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like 15 Most Beautiful Female Athletes in the World Click Here Undo In Assam, police in all districts bordering Bangladesh have been on high alert."We are keeping watch. Earlier attempts by JMB ( Jamaat-ul-Mujahideen Bangladesh ), ABT ( Ansarullah Bangla Team ) modules to enter Assam have been broken," a top police official said.
Hans India
27-04-2025
- Politics
- Hans India
Kailash Mansarovar Yatra To Resume In 2025 After Five-Year Hiatus
The Ministry of External Affairs has announced the restoration of the Kailash Mansarovar pilgrimage after a five-year interruption, with journeys scheduled between June and August 2025 through both Uttarakhand's Lipulekh Pass and Sikkim's Nathu La Pass. Prospective pilgrims can now register for the yatra through the official website at Participant selection will employ a computerized system designed to ensure fairness, randomness, and gender balance. The ministry has organized five groups of 50 pilgrims each for the Lipulekh Pass route, while the Nathu La Pass route will accommodate ten groups of 50 pilgrims each. The application and selection process has been fully digitized since 2015. Applicants seeking assistance are encouraged to utilize the website's feedback options rather than sending traditional correspondence. The pilgrimage's revival follows diplomatic discussions between India and China, marking a significant improvement in bilateral relations after tensions stemming from the 2020 Galwan clash and COVID-19 pandemic disruptions. The breakthrough came after Prime Minister Narendra Modi and President Xi Jinping met in Kazan in October 2024, resulting in an agreement to disengage from friction points in Eastern Ladakh and resume normal patrolling activities. The last pilgrimage occurred in 2019 before being suspended due to the pandemic and border tensions. Indian officials consistently advocated for its resumption during various diplomatic engagements, including External Affairs Minister S. Jaishankar's discussion with Chinese Foreign Minister Wang Yi during the November 2024 G-20 Summit in Rio de Janeiro, followed by talks at the Special Representative meeting in December 2024 and during diplomatic exchanges in January 2025. The 2025 pilgrimage coincides with the 75th anniversary of diplomatic relations between India and China. During a March 2025 meeting in Beijing, officials agreed to enhance people-to-people connections, including restoring direct Delhi-Beijing flights and fostering media and think tank interactions.
The Hindu
26-04-2025
- Politics
- The Hindu
India resumes Kailash Manasarovar Yatra after five years
Five years after the pilgrimage to Kailash Mansarovar was suspended, India is all set to launch the yatra again from June this year. The Ministry of External Affairs on Saturday (April 26, 2025) invited applications from pilgrims. Announcing that the yatra will take place between June and August, the Ministry of External Affairs said as many as 750 pilgrims will be allowed to take part in it. 'This year, 5 batches, each consisting of 50 Yatris, and 10 batches, each consisting of 50 Yatris, are scheduled to travel through Uttarakhand State crossing over at Lipulekh Pass, and through Sikkim State crossing over at Nathu La Pass, respectively, a ministry statement read. Since the entire process is fully computerised since 2015, pilgrims can register at The selection will be through a fair, computer-generated, random and gender-balanced selection process, the ministry said. The Indian and Chinese officials have been discussing on the resumption of yatra, which was suspended in 2020 due to COVID-19 pandemic, since October 2024 during the border agreement talks. The yatra remained suspended since 2020 due to tensions at the Line of Actual Control after the Galwan killings. In an unusual move, the issue was also discussed by the Working Mechanism for Coordination and Consultation (WMCC) on India-China border affairs, which normally focuses on defence and border management issues. '(The two sides) exchanged views on early resumption of cross-border cooperation and exchanges, including on trans-border rivers and Kailash-Mansarovar Yatra,' a press statement issued after the 33rd WMCC meeting on March 25 this year read. The Kailash Mansarovar Yatra is organised by the Ministry of External Affairs; the Ministry of Home Affairs; the Indo Tibetan Border Police; the Delhi, Sikkim and Uttarakhand governments; and state agencies, including the Kumaon Mandal Vikas Nigam. The two official routes of the pilgrimage are Lipulekh Pass in Uttarakhand (since 1981) and the Nathu La Pass (since 2015) in Sikkim.
