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India, Iran sign 10-year agreement for Indian operations at Chabahar port
Sarbananda Sonowal’s visit amid India’s general elections emphasises the importance attached by New Delhi to the Chabahar port.
India and Iran on Monday signed a long-term agreement covering Indian operations at the Chabahar port, with New Delhi offering a credit window worth $250 million for the development of infrastructure around the strategic facility in the Gulf of Oman.
The agreement was signed in Tehran in the presence of ports and shipping minister Sarbananda Sonowal and his Iranian counterpart Mehrdad Bazrpash.
Sonowal’s visit amid India’s general elections emphasises the importance attached by New Delhi to the Chabahar port and its place in ambitious plans to forge greater connectivity with Iran, Afghanistan and the landlocked central Asian states.
Sonowal said with the signing of the agreement, the two countries have laid the foundations for India’s long-term involvement in Chabahar.
“The signature of this contract will have a multiplier effect on the viability and visibility of Chabahar port,” Sonowal said. “Chabahar is not only the closest Iranian port to India, but it is also an excellent port from [a] nautical point of view.”
The long-term agreement, to be valid for 10 years and extended subsequently, was being negotiated by the two sides over the past three years and had been held up over differences on a clause related to arbitration. It replaces an initial pact inked in 2016 that covered India’s operations at the Shahid Beheshti terminal of Chabahar port and has been renewed annually.
India Ports Global Chabahar Free Zone (IPGCFZ), a subsidiary of state-run India Global Ports Limited (IGPL), currently operates the Shahid Beheshti terminal at Chabahar port.
Under the new contract between IPGL and the Ports and Maritime Organisation of Iran (PMO), the Indian state-run firm will invest about $120 million to further equip the Shahid Beheshti terminal, people familiar with the matter said on condition of anonymity.
India has also offered a credit window equivalent to $250 million for mutually identified projects aimed at improving Chabahar-related infrastructure, the people said.
The Indian side handed over a letter from external affairs minister S Jaishankar to his Iranian counterpart Hossein Amirabdollahian regarding the credit window and reiterated India’s commitment to cooperate in developing the port, the Indian embassy in Tehran said in a post on X.
Sonowal and Bazrpash discussed “furthering the shared vision of making Chabahar port a regional connectivity hub connecting India to Afghanistan, Central Asia, and Eurasia”, the embassy said in another post.
Sonowal travelled from New Delhi to Tehran on a special Indian Air Force (IAF) and his delegation included JP Singh, the joint secretary who heads the Pakistan, Afghanistan and Iran desk in the external affairs ministry.
The move comes at a time when China has been showing greater interest in investments in ports and other coastal infrastructure in Iran, with Tehran pressing Beijing to take up the development of other terminals at Chabahar port.
Both India and Iran see the deep-water port in the Sistan-Baluchistan province as a hub for the International North-South Transport Corridor (INSTC), which will allow shipping companies to use an alternative route that bypasses the sensitive and busy Persian Gulf and Strait of Hormuz.
Chabahar’s location in the open sea provides easy and secure access for large cargo ships and the port has benefited from a carve-out from the US sanctions on Iran.
HT first reported in September 2022 that India and Iran were working on a long-term agreement for IGPL’s operations at Chabahar port. The only issue holding up the agreement at that time was related to the jurisdiction for arbitration of differences on any matter. Under Iran’s Constitution, such arbitration cannot be referred to foreign courts, and a proposal under the agreement required a constitutional amendment.
It was not immediately clear how the two sides worked out these differences, though Iranian officials told HT some time ago that this issue had been resolved. Iranian ambassador Iraj Elahi told HT last month the long-term agreement was ready and India’s ports and shipping minister was invited to Tehran for its signing.
Since IPGL began operations at Shahid Beheshti terminal in December 2018, it has handled more than 8.4 million tonnes of bulk and general cargo, including trans-shipments from Australia, Bangladesh, Brazil, Germany, Russia and the United Arab Emirates.
Chabahar has also facilitated the supply of humanitarian aid, especially during the Covid-19 pandemic. A total of 2.5 million tonnes of wheat and 2,000 tonnes of pulses have been trans-shipped from India to Afghanistan through Chabahar. In 2021, India supplied 40,000 litres of the pesticide Malathion to Iran through the port to fight a locust menace.
India took up the development of the Shahid Beheshti terminal under a tripartite agreement on Chahbahar signed with Iran and Afghanistan in May 2016. Afghanistan is effectively no longer part of the arrangements since the takeover of the country by the Taliban in 2021.
India had earlier pledged to invest $85 million in the terminal and has so far supplied six mobile harbour cranes (two of 140 tonnes and four of 100 tonnes capacity) and other equipment worth $25 million.
source/content: hindustantimes.com (headline edited)
India and Oman to jointly undertake research on sharks and rays in Arabian Sea
A joint initiative between India and Oman to boost research and conservation of sharks and rays in the Arabian Sea will be launched at an upcoming workshop at ICAR-Central Marine Fisheries Research Institute (CMFRI), it was announced on Friday.
Experts from both countries will take part in the workshop which is expected to take place shortly, here, which will take up the collaborative research works and capacity building in elasmobranch research.
CMFRI Director, Dr A. Gopalakrishnan said the upcoming workshop is a joint venture between the CMFRI and the Marine Science and Fisheries Centre of Oman’s Directorate General of Fisheries Research as part of a research linkage between the two countries.
“The workshop will lay the foundation for a collaborative future in marine research between the two countries and open avenues for regional management and conservation of iconic resources such as sharks and rays in the Arabian Sea,” he said.
“We hope that the collaboration will extend further to other important resources such as tunas, as well as other areas in marine fisheries research, including mariculture and biotechnology,” he added.
The CMFRI is the national marine scientific authority for CITES (Convention on International Trade in Endangered Species of Wild Fauna and Flora).
The institute has been running a dedicated research programme on sharks and rays in Indian waters for over a decade, leading to the development of policy advisories, conservation plans and species-specific databases on several shark and ray species of the Indian EEZ.
During the workshop, participants from both countries will share their knowledge and experience of working with sharks and rays in their respective regions.
The research team from Oman will be headed by Dr Khalfan Al Rashdi, Director of the Aquaculture Centre, Directorate General of Fisheries Research, and also the leader of the Rays Project of Oman.
The Indian research team will be headed by Dr Shoba Joe Kizhakudan, Head of the Finfish Fisheries Division and Principal Investigator of CMFRI’s national project on elasmobranch.
The workshop is coordinated by the India-Shark & Ray Lab of the Finfish Fisheries Division of the CMFRI.
–IANS
source/content: bhaskarlive.in (headline edited)
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10 – RR Accura
INTERNATIONAL: NATIONAL: India received over $111 billion in remittances in 2022, FIRST country to ever reach that figure: UN
According to the report’s data, India was the top country receiving remittances in 2010 (USD 53.48 billion), 2015 (USS 68.91 billion), and 2020 (USD 83.15 billion), with the remittances crossing the USD 100 billion mark to reach USD 111.22 billion in 2022.
India received over USD 111 billion in remittances in 2022, the largest in the world, becoming the first country to reach and even surpass the USD 100 billion mark, the United Nations migration agency has said.
The International Organisation for Migration (IOM), in its World Migration Report 2024 launched Tuesday, said that in 2022, India, Mexico, China, the Philippines and France were the top five remittance recipient countries.
“India was well above the rest, receiving more than USD 111 billion, the first country to reach and even surpass the USD 100 billion mark. Mexico was the second-largest remittance recipient in 2022, a position it also held in 2021 after overtaking China, which historically had been the second-biggest recipient after India,” the report said.
According to the report’s data, India was the top country receiving remittances in 2010 (USD 53.48 billion), 2015 (USS 68.91 billion), and 2020 (USD 83.15 billion), with the remittances crossing the USD 100 billion mark to reach USD 111.22 billion in 2022.
It noted that with a very large number of migrant workers from the subregion, Southern Asia receives some of the largest inflows of remittances globally.
Three countries in Southern Asia – India, Pakistan and Bangladesh, rank among the top ten recipients of international remittances in the world, underscoring the significance of labour migration from the subregion.
“With India estimated to have received more than USD 111 billion in 2022, it is by far the largest recipient of international remittances in the world and the first country to ever reach that figure,” the report said.
Pakistan and Bangladesh were the sixth and eighth largest international remittance recipients in 2022, receiving nearly USD 30 billion and USD 21.5 billion respectively.
The report however noted that while remittances remain a lifeline for many people in the subregion, migrant workers from these countries continue to face a myriad of risks, including financial exploitation, excessive financial debt due to migration costs, xenophobia and workplace abuses.
The Gulf States remain significant destinations for migrant workers from around the world, and the 2022 football World Cup further underscored the importance of migrant labour to the subregion as well as rights violations.
Migrants continue to comprise high proportions of the total populations in many Gulf Cooperation Council (GCC) States.
In the United Arab Emirates, Kuwait and Qatar, migrants made up 88 per cent, nearly 73 and 77 per cent of the national populations, respectively.
Most migrants – many of whom come from countries such as India, Egypt, Bangladesh, Ethiopia and Kenya – work in sectors such as construction, hospitality, security, domestic work and retail.
The report added that nearly 18 million or 1.3 per cent of the total population, India is also the origin of the largest number of international migrants in the world, with large diasporas living in countries such as the United Arab Emirates, the United States and Saudi Arabia.
India came in 13th as the destination country for immigrants, with 4.48 million.
India – United Arab Emirates, India – US, India – Saudi Arabia and Bangladesh – India were among the top 10 international country-to-country migration corridors, the report said.
Mexico is now the second largest recipient of international remittances in the world after India. China had long held the second spot but it was surpassed by Mexico in 2021, with the Central American country estimated to have received more than USD 61 billion in 2022, while China received about USD 51 billion.
“The contraction of remittance flows to China has been attributed to multiple factors, including demographic shifts that have resulted in the shrinking of the working age population and the country’s zero-COVID policy, which prevented people from travelling abroad for work,” the report said.
The report further said that countries in Asia are the origins of the largest number of internationally mobile students in the world.
In 2021, more than one million internationally mobile students were from China, by far the highest number globally and more than double the number of students from India, which ranks second (around 508,000).
The US is the largest destination country for international mobile students in the world (more than 833,000), followed by the UK (nearly 601,000), Australia (around 378,000), Germany (over 376,000) and Canada (nearly 318,000).
China is also an important destination for international students, especially those from the Republic of Korea, Thailand, Pakistan and India.
The report said that there are more female than male international migrants in destination countries in Europe and Northern America, such as the US, Canada, France, Spain and Italy, but also in India.
India has a slightly higher share of female immigrants than males. Countries with a significantly high proportion of male emigrants include India, Bangladesh and Pakistan.
Irregular migration to the US remains an ongoing challenge and major policy issue, with increasing numbers of arrivals from atypical origin countries. There were 2.4 million encounters at the United States–Mexico border in 2022, the highest on record. “Encounters” constitute both apprehensions and expulsions, and these statistics also include many migrants who tried to enter the US several times without authorisation.
For years, most irregular migrants were overwhelmingly from Mexico, Guatemala, El Salvador and Honduras but in 2022 and for the first time, there were more encounters with migrants from Venezuela, Cuba and Nicaragua.
“There were also a large number of arrivals from Haiti, Brazil and from countries outside the region such as India and Ukraine,” it said.
“The shift in origin country geography has also been attributed to Title 42, which suspends the right to claim asylum under United States and international law on the basis of preventing the spread of COVID-19,” it said.
The report noted that the impact of the pandemic has been severe on both internal and international Indian emigrant workers, particularly low-skilled emigrants on short-term contracts, migrants working within the informal economy and undocumented workers.
Loss of jobs along with wage theft and lack of social security during the pandemic has plunged many Indian migrants into deep debt and insecurity.
“The pandemic has had an overwhelming effect on internal labour migration patterns and has reshaped work in both rural and urban areas. There has been a decline of almost 10 per cent in blue-collar workforce mobility towards cities, which has drastically cut the labour supply for major industries. The official estimate of reverse internal migration is 51.6 per cent for men and 11 per cent for women,” the report said citing experts and official data.
Since 2000, IOM has been producing its flagship world migration reports every two years.
source/content: indianexpress.com (headline edited)
NATIONAL: FREEDOM FIGHTERS 1857: Rajasthan Govt to reach out to UK Govt to find names of 24 martyrs of 1857 Revolt
The Rajasthan Government is all set to highlight the contribution of the desert state in the 1857 Revolt and plans to reach out to the UK Government to find the names of 24 freedom fighters who were killed in Pali District’s Auwa Village and who remain unsung till date, said officials.
The state government also plans to declare the places associated with the martyrs who rebelled against the British, as heritage villages and install their statues there.
This work has been assigned to Rajasthan Heritage Conservation and Promotion Authority.
Omkar Lakhawat, Chairman of the Authority said that in the Auwa case, the British had imposed death penalty on 24 revolutionaries and conducted a court martial of rebel soldiers, but the names of the 24 freedom fighters were never made public.
“Now we will raise this demand from the UK Government to make these names public,” he added.
The state government is searching for the records of the 24 freedom fighters who were blown up by cannons in Auwa Village during the revolution.
All related documents are being scrutinised in the Archaeological Survey of India archives as well as in England, going beyond borders.
As the UK Government did not reveal the names of these martyrs hence no information is available about their descendants, said officials.
In 1857, when the revolution was spreading across the country, Auwa in Pali District, triggered panic among the British due to its war acumen.
The tale of Thakur Khushal Singh as the commander of the revolutionaries still echoes in every corner of Auwa Village.
In 1857, a military rebellion started in Erinpura in Rajasthan and the rebel soldiers marched towards Delhi via Auwa to participate in the freedom struggle.
Thakur Kushal Singh gave shelter to the rebel soldiers and angered by this, the British army along with the Jodhpur army attacked Auwa.
Thakur Kushal Singh beheaded Jodhpur Political Agent Captain Monck Mason and hung his head on the ramparts of Auwa Fort.
This enraged the British army and they destroyed the entire village with guns and cannons.
They even uprooted the statue of Sugali Mata and took it with them.
The state government will now rebuild the idol of Mata Sugali and install it, said officials.
The British also arrested many revolutionaries and rebel soldiers.
On January 24, 1858, a case of mutiny was registered against 120 soldiers but the 24 revolutionaries were kept in custody for one day.
The very next day, on January 25, 1858 the 24 freedom fighters were killed.
The history of the Auwa rebellion is quite inspiring as the army of Thakur Kushal Singh defeated the army of Maharaja Takht Singh of Jodhpur who fought along with the British and now the Rajasthan Government wants to honour these brave men by acknowledging their contribution and sacrifice.
source/content: daijiworld.com / IANS (headline edited)
NATIONAL: MANUFACTURING / AC: Voltas records highest-ever AC sales by any brand in a fiscal in India
HSBC is bullish on the stock. It has maintained a ‘buy’ rating on the stock expecting that the company’s unitary cooling products (UCP) division will witness a significant increase in profitability.
Voltas sold over 2 million air conditioners in FY24, which it said is the highest-ever sales of ACs by any brand in a financial year in India.
The Tata Group company recorded a 35 per cent sales growth to over two million units in FY24, on the back of consistent demand for cooling products during the year, coupled with a strong offline and online distribution network, and new innovative launches.
“The company achieved over 2 million AC units during this fiscal 2023-24, the highest ever sale of ACs by any brand in a financial year in India, with a volume growth of 35 per cent,” it added.
With these landmark sales, Voltas is “the first ever brand to achieve this extraordinary milestone in the Air Conditioning industry in India”, it said.
The Indian residential AC market is estimated to be around 10 million units in FY24 and is expected to grow to 11.5 million units this year. Even during the March quarter, when sales of compressor-based cooling products are low due to convenient temperatures: “Voltas registered a significant volume growth of 72 per cent in AC sales during Q4 FY24”.
The company claimed that with these sales numbers, “Voltas is the undisputed market leader and has maintained its number one position in the Room Air Conditioner category”. Its MD and CEO Pradeep Bakshi said: “We believe that our wide presence, focus on the emerging retail channels, excellent distribution network, strong brand equity and attractive consumer offers have helped us to achieve this significant milestone”.
HSBC is bullish on the stock. It has maintained a ‘buy’ rating on the stock expecting that the company’s unitary cooling products (UCP) division will witness a significant increase in profitability. The brokerage has increased target price to ₹1,350 per share from the previous target of ₹1,250. This a potential upside of 11% from the previous closing levels of ₹1,217 apiece on the BSE.
In its note, HSBC said the UCP segment of the Tata Group firm will experience a significant increase in profitability due to both, robust demand for the company’s products and a decrease in the costs of materials needed for production. The brokerage added that margin improvement for the UCP segment is likely to be a positive surprise for investors.
source/content: businesstoday.in (headline edited)
INTERNATIONAL: INDIA WINS: The Indian Express wins Design Award for Parliament Infographic at 6th International Newspaper Design Competiion
The new Parliament building houses a larger Lok Sabha hall with a capacity of up to 888 seats, and a larger Rajya Sabha hall with a capacity of upto 384 seats.
The Indian Express has won the 6th International Newspaper Design Competition’s Best of Show honour under the Best of Infographics category.
The winning infographic, titled ‘The Parliament of India’, was an in-depth look at the country’s old Parliament building, weaving in important dates, numbers, photographs, and detailed sketches. It was published ahead of the opening of the new Parliament building, inaugurated on May 28, 2023.
The infographic was designed by Bivash Barua, illustrated by Suvajit Dey, and included text by Chakshu Roy, Damini Nath, and Divya A.
“This is a clean and elegant execution, easy to read and follow, and the colour palette does not take the attention away from the topic,” the judges said.
Other winners of the 6th International Newspaper Design Competition included German newspaper Die Zeit under the Best of Page One, The Hindu under the Best of Sports Page category, and Hindustan Times under the Best of Double Spread.
Here is the infographic:
You can download the poster here
source/content: indianexpress.com (headline edited)