Latest news with #INDIAN
Time of India
5 hours ago
- Business
- Time of India
Key facts about India-UK free trade deal as PM Modi, Starmer set to sign FTA soon
Britain and India are set to formally sign a free trade agreement on Thursday during Prime Minister Narendra Modi's UK visit, following three years of negotiations. The deal then needs approvals from the British parliament and India's federal cabinet, likely within a year. Here are the key points of the agreement: Explore courses from Top Institutes in Please select course: Select a Course Category Cybersecurity Finance Management Product Management healthcare MBA Degree Operations Management others MCA PGDM Leadership Project Management Data Analytics Healthcare Public Policy Others Digital Marketing Artificial Intelligence Design Thinking Data Science Data Science CXO Technology Skills you'll gain: Duration: 10 Months MIT xPRO CERT-MIT xPRO PGC in Cybersecurity Starts on undefined Get Details TARIFF CUTS India to reduce tariffs on nearly 90% of UK goods Whisky and gin levy to fall from 150% to 75%, then to 40% in a decade Live Events Automobile tariff to fall from 100%-plus to 10% under quota Tariffs to be cut on other goods including cosmetics, medical devices, salmon, chocolates, biscuits UK to offer duty-free access to 99% of Indian items, according to Indian commerce ministry, covering nearly 100% of trade value BENEFITS FOR INDIAN SECTORS Indian exports such as textiles, footwear, gems & jewellery, furniture, auto components, chemicals, machinery, sports goods and other items likely to have zero duties, down from current levels of 4%-16% in the UK. SERVICES According to Indian commerce ministry, the UK will provide assured access for temporary stay to business visitors and contractual service providers as well as to yoga instructors, chefs and musicians. Indian workers working temporarily in the UK and their employers will be exempted from paying social security contributions in the UK for three years, with savings estimated at about 40 billion rupees ($463 million) annually. UK FIRMS TO GET ACCESS TO INDIAN GOVERNMENT PROCUREMENT India will provide access to British suppliers for non-sensitive government procurement tenders in the federal government, with a threshold of 2 billion rupees. The deal will give UK businesses access to India's public procurement market, comprising about 40,000 tenders with a value of about 38 billion pounds a year, according to UK government estimates. BOOST TO UK ECONOMY The trade pact is expected to increase UK GDP by 4.8 billion pounds ($6.5 billion) annually in the long term, according to British government estimates, with consumers getting access to cheaper garments, footwear and food items from India. INDIAN FIRMS TO BENEFIT Indian textile and apparel manufacturers such as Welspun India , Arvind Ltd , Raymond , Vardhman likely to benefit from duty-free access for exports to the UK. Footwear manufacturers such as Bata India , Relaxo , auto manufacturers like Tata Motors , Mahindra Electric and also Bharat Forge could benefit, according to industry analysts. UK COMPANIES UK firms including whisky distiller Diageo, auto manufacturer Aston Martin and Tata-owned Jaguar Land Rover could benefit from access to fast-growing Indian market.
India Today
19 hours ago
- Politics
- India Today
When India's Vice-President quit mid-term and CJI had to fill in as President
Fifty-six years before Jagdeep Dhankhar's surprising resignation from the post of Vice-President on Monday, India witnessed the first resignation of a Vice-President in 1969. But far from the intrigue in the Dhankhar case, the 1969 resignation was forced by circumstances and eventually resulted in the Chief Justice of India (CJI) taking charge of the Republic as the President of the sudden death of President Zakir Husain in May 1969, Vice-President VV Giri stepped down from his post to run for the President's led to the young Republic facing a unique situation, where Giri's resignation to run for the President's post resulted in the CJI, Mohammad Hidayatullah, taking charge as the President. His tenure lasted a month, until VV Giri was elected and sworn in as the full-time President of India. For over a month, the CJI was the acting President of India, and even hosted then US President Richard Nixon at the Rashtrapati Dhankhar's resignation on Monday, citing health reasons, makes him the fourth Vice-President to quit without completing his 5-year term. While Dhankhar's case is exceptional, the others quit to run for the President's than Giri, Ramaswamy Venkataraman (1987) and Shankar Dayal Sharma (1992) were the other two who quit mid-term and contested presidential resignation provides an opportunity to revisit the VV Giri chapter and examine how the CJI became the acting Article 67(a) of the Indian Constitution, a Vice-President may resign by submitting a written notice to the President, effective immediately upon acceptance. In the absence of a Vice-President, the Deputy Chairman of the Rajya Sabha assumes interim duties, while the Chief Justice of India (CJI) may act as President if both offices are vacant, as outlined in the President (Discharge of Functions) Act, these provisions that enable transitions in India's top leadership to take place smoothly, in accordance with the OF AN INDIAN PRESIDENT, AND A FRACTURED CONGRESSOn May 3, 1969, President Zakir Husain, who had been the Vice-President between 1962-1967, died in office. A constitutional crisis was India's third President, Husain was a respected figure, and his passing left the presidency the time, the Congress party was grappling with internal party was split between the old guard, known as the Syndicate, and the faction led by then-Prime Minister Indira rift set the stage for the contentious presidential election of VV Giri, who had been serving as acting President following Husain's death, emerged as a key figure in the unfolding political Congress faced pressure to select a candidate who could have the support and unify the factions. But the divide between the Syndicate (namely the Congress Organisation) and Gandhi's supporters Congress (Requisitionists) made consensus elusive.A PRESIDENTIAL BID IN INDIA LIKE NO OTHER; VV GIRI WON BY A NARROW MARGINadvertisementThe Syndicate, a group of senior Congress leaders, including K Kamaraj and Morarji Desai, sought to assert control over the presidential favoured Neelam Sanjiva Reddy as their candidate, believing he would align with their conservative faction. Meanwhile, Indira Gandhi, pushing for greater influence within the party, backed VV Giri, who was seen as more sympathetic to her pursue the presidency, Giri, acting as the President, resigned as the Vice-President on May 13, 1969. The move was an unprecedented one as no Vice-President had election became a battleground for control of the Congress Party. Giri, running as an independent candidate with Gandhi's support, faced Reddy. Gandhi called for a "conscience vote", allowing Congress MPs to vote won the election in August 1969, by a narrow margin. He secured 4,20,077 votes against Reddy's 4,05,427, becoming India's fourth CJI WELCOMED US PRESIDENT NIXON, AS A PRESIDENTWith both the presidency and vice-presidency vacant after Giri's resignation, an interim arrangement was required. From May to August 1969, the Vice-President's post remained vacant for more than 100 President's role, temporarily assumed by Vice-President VV Giri in May, came to an end in July after he resigned, having discharged the duties of both offices for over two was then, based on the provisions of the Constitution and the President (Discharge of Functions) Act, 1969, enacted just before this crisis, the Chief Justice of India acted as the Chief Justice of India Mohammad Hidayatullah assumed the role of acting President from July 20, until Giri's inauguration on August tenure as the acting President became historic when he hosted US President Richard Nixon during his official visit to India. He even delivered a formal address at Rashtrapati Bhavan's Banquet Hall, according to the American Presidential Project, a digital archive maintained by the University of a short tenure of a month, as Article 62 of the Constitution mandates that a presidential election must be held within six months of a vacancy, Hidayatullah's stint came to an end after Giri took the oath of India's highest office on August becoming a full-time Vice-President, Hidayatullah went on to act as President thrice in the 1980s during President Zail Singh's foreign part of post-Independence lore, this precedent gains some renewed relevance in 2025. However, now, Dhankhar's resignation has paved the way for an election to fill the Vice-President's post in six months.- Ends
India Today
2 days ago
- Business
- India Today
CoinDCX loses $44 million in cyberattack: Here's what the crypto platform said
CoinDCX, one of India's leading cryptocurrency exchanges, has confirmed a major cyberattack that led to the loss of around $44 million from one of its internal breach occurred on July 19 and was publicly acknowledged by co-founder Neeraj Khandelwal the next IMPACT ON USER FUNDS, SAYS COINDCXIn a detailed post on X (formerly Twitter), Neeraj Khandelwal said, 'The total amount lost was ~$44Mn out of our treasury assets. CoinDCX Treasury will be bearing these losses. Our first and foremost objective throughout the day has been to first secure assets.'CoinDCX also issued a press note stating that the incident involved only one internal operational account used for liquidity provisioning on a partner exchange. 'No customer funds or wallets were affected,' the company Gupta, co-founder of CoinDCX, also addressed the situation. 'I want to thank everyone who reached out with support and sought clarity in the spirit of trust and transparency. At CoinDCX, our first responsibility is to our users and the security of their assets.''While this breach was limited to one internal operational account—and no customer funds were impacted—we take this incident with the utmost seriousness,' he it a wake-up call for the industry, Gupta said, 'This is more than an internal matter; it's a stark reminder of the evolving threats facing the crypto ecosystem, not just in India but globally. As the country's largest exchange, we are committed to set new benchmarks in security and resilience.'He added, 'Our commitment is clear: to protect our customers, strengthen industry-wide defences, and help build a safe and trusted foundation for India's digital asset economy.'DETAILS OF THE ATTACKAccording to the company, the attack resulted in exposure of approximately $44 million from one operational account. The stolen funds were transferred through Solana-Ethereum blockchain bridges and broken down into:4,443 ETH worth around $15.7 million155,830 SOL worth around $27.6 million (currently dormant)CoinDCX said wallet activity is being monitored closely with the help of global blockchain analytics MAJOR INDIAN CRYPTO HACK IN A YEARThis is the second large-scale hack involving an Indian crypto exchange in the past year. In July 2024, WazirX lost $234 million when one of its wallets hosted on Liminal was breach forced WazirX to suspend trading and withdrawals temporarily, leading to panic among its 4.4 million Indian users. The company filed an FIR and even announced a white-hat bounty programme with a reward of up to $23 million for information leading to the recovery of funds.- Ends advertisement
India Today
5 days ago
- India Today
Indian woman held for 7-hour shoplifting in Illinois; then a US visa warning
An Indian woman was detained in Illinois, US, for allegedly stealing items worth over $1,300 (approximately Rs 1.11 lakh) from a Target store in May. Even as a video of the May incident went viral, the US Embassy in India issued a statement cautioning all visa holders that involvement in crimes such as assault, theft, or burglary in the host country could lead to visa revocation and future inadmissibility. Responding to a question on the shoplifting incident, India's Ministry of External Affairs (MEA) has urged all citizens travelling abroad to respect local laws and uphold the country's image, while confirming that over 1,500 Indians have been deported from the US this video of the woman, reportedly called Alvani, allegedly attempting to shoplift goods went viral. The undated bodycam footage shows the woman being confronted and later detained by the police. The incident reportedly occurred in incident sparked widespread attention even as the advisory issued this week by the US Mission in India cautioned that committing crimes could not only lead to visa denial but also permanently block future entry into the US. "Committing assault, theft, or burglary in the United States won't just cause you legal issues – it could lead to your visa being revoked and make you ineligible for future US visas. The United States values law and order and expects foreign visitors to follow all US laws," the US Mission said in a post on X on Wednesday, July US Embassy last week also issued a strict warning that visa holders found violating American laws or immigration rules would face deportation."US visa screening does not stop after a visa is issued," the embassy said in a statement posted on social media platform X on Saturday, July 12."We continuously check visa holders to ensure they follow all US laws and immigration rules – and we will revoke their visas and deport them if they don't," it on July 15, the US State Department, in a statement, also warned that individuals arrested for crimes such as assault, domestic violence, or other serious offences while in the US may face immediate visa revocation and become ineligible for future US visas."If you are arrested for assault, domestic violence, or other crimes while in the United States, your US visa may be revoked, and you may be ineligible for future US visas. A visa is a privilege, not a right – one that can be revoked if you break the law," the Department of State Consular Affairs said in the statement AUTHORITIES DETAINED INDIAN TOURIST AFTER SHE STAYED IN STORE FOR 7 HOURSOriginally shared as an 18-minute vlog by the YouTube channel "Body Cam Edition", the footage has since been broken into shorter clips and widely circulated on social original video begins with a Target employee stating that the woman spent nearly seven hours inside the store before attempting to exit with a full shopping cart."We saw this woman roaming around the store for the last 7 hours," the staffer could be heard in the clip. "She was picking up items, checking her phone, moving between aisles, and eventually tried to walk out the west gate without paying," he further video shows the woman repeatedly telling the police that she can pay for the items, asking them to "end the matter". However, the officers maintained that the opportunity to pay had passed. "You want to pay for it now, but you weren't paying for it previously," one officer incident reportedly occurred on May 1 but surfaced publicly after video of a Target employee confronting the woman went woman was handcuffed and taken to the police station."Are you allowed to steal things in India? I did not think so," a woman police officer questioning the woman can be heard ASKS PEOPLE TO FOLLOW THE RULES OF VISITING COUNTRYOn being asked about the Indian tourist's arrest in the alleged shoplifting case, Ministry of External Affairs (MEA) spokesperson Randhir Jaiswal, in a press briefing on Thursday, urged people who go abroad to follow the law and order of the visiting country."Our constant request to all our people who go abroad is that they should follow the law and order of that country and create a good image of the country," Jaiswal MEA, during the weekly press briefing, also informed that 1,563 Indian nationals have been deported from the US since Donald Trump assumed office as US President for a second term."Since 20 January of this year, till yesterday, some 1,563 Indian nationals have been deported from the United States so far," the spokesperson said.- Ends
India Today
7 days ago
- Business
- India Today
Delhi ranks world's most affordable student city in QS 2026 rankings
India's rising academic reputation, affordability, and graduate employability shine in the latest QS Best Student Cities a significant recognition of India's growing stature as an education hub, four Indian cities—Mumbai, Delhi, Bengaluru, and Chennai—have registered impressive gains in the QS Best Student Cities Rankings 2026. Delhi emerged as the most affordable student city in the world, while Mumbai re-entered the global top 100, landing at the 98th annual rankings, released by global higher education analysts QS Quacquarelli Symonds, assess cities based on a blend of factors including university quality, student diversity, affordability, and employment prospects for graduates. All four Indian cities in the 2026 edition have climbed the ladder from their 2025 positions—an upward trend signalling enhanced global visibility and improving standards in India's urban academic STANDOUTS: WHO RANKED WHERE? Mumbai was the top-performing Indian city overall, jumping 15 spots to secure the 98th rank globally. Delhi moved up by seven positions to 104th, and stood out by clinching the #1 global spot in affordability, a key category for students considering overseas education. Bengaluru, renowned for its thriving tech and research sectors, recorded one of the sharpest rises globally—advancing 22 places to the 108th position. Chennai also made a respectable climb, moving 12 spots up to rank the full list of QS Best Student Cities Rankings 2026These improvements come as Indian cities continue to leverage their strong academic institutions. Mumbai boasts premier centres like the Indian Institute of Technology (IIT) Bombay and the University of Mumbai, while Delhi is home to powerhouses such as IIT Delhi and the University of Delhi. Bengaluru's reputation is anchored by institutions like the Indian Institute of Science (IISc) and IIM Bangalore, whereas Chennai features leading universities, including IIT Madras and Anna INDIAN CITIES ARE STANDING OUTA major draw for students is the cost advantage. In the QS affordability index, Delhi scored 96.5, claiming the top global rank. Bengaluru followed with 84.3, and Chennai posted a commendable 80.1. The affordability metric considers average tuition fees and living costs, which are markedly lower in Indian cities compared to traditional education destinations like the UK, USA, and affordability isn't the only factor driving India's rise. The 'Employer Activity' score—a metric that evaluates how favourably employers view graduates from a particular city—has seen notable improvements for Indian metros. Delhi and Mumbai both broke into the global top 50, while Bengaluru soared by 41 places to reach 59th position, and Chennai climbed 29 spots, reflecting growing industry faith in India's talent INDIAN CITIES IMPROVED FROM 2025 RANKINGSadvertisementIndia's upward trajectory from the previous year is striking:Mumbai: climbed from 131 to 98Delhi: moved from 117 to 104Bengaluru: jumped from 130 to 108Chennai: improved from 140 to 128These gains align with broader trends seen in the QS World University Rankings 2025, where nearly half of India's institutions improved their global standing. IIT Delhi led the pack as India's top university, while MIT (Massachusetts Institute of Technology) retained its global #1 position for the 14th straight 5 CITIES FOR STUDENTS IN 2026While Indian cities gained ground, Seoul topped the global list, pushing London—the previous #1—down to third, mainly due to worsening affordability. The top five cities globally in the QS Best Student Cities 2026 are:Seoul, South KoreaTokyo, JapanLondon, United KingdomMunich, GermanyMelbourne, AustraliaIndia's improving international education footprint coincides with the fifth anniversary of the National Education Policy (NEP) 2020. Amongst its key goals, the NEP seeks to internationalise Indian higher education, bolster quality, and foster research latest QS city rankings suggest that these policy shifts are beginning to yield measurable results—not just at the institutional level, but also across cities as attractive destinations for both domestic and international India looks to cement its place on the global education map, the latest QS rankings provide a strong signal: Indian cities are no longer just affordable—they are increasingly aspirational.- Ends
