Nehruโs Non-Alignment To Modiโs Multi-Alignment: How India Rewrote Its Foreign Policy Playbook
The core aim remains strategic autonomy, but the method has changed: India no longer stays away from power centres, it engages them simultaneously.
๐ฎ๐ณ ์ธ๋ ยท "METHOD" ยท ์ด 16๊ฑด
ํํฐ ๋ณด๊ธฐํ์ฌ ์ง์
50.0
0 = ๋ถ์ ์ฐ์ธ
50 = ์ค๋ฆฝ
100 = ๊ธ์ ์ฐ์ธ
์ต๊ทผ 7์ผ ๊ธฐ์ค 5,903๊ฑด์ ๋ถ์ํ ๊ฒฐ๊ณผ, ๋ด์ค ์ฌ๋ฆฌ์ง์๋ 50.0(๊ท ํ)์ ๋๋ค. ๊ธ์ 0๊ฑด(0.0%)ยท์ค๋ฆฝ 5,903๊ฑด(100.0%)ยท๋ถ์ 0๊ฑด(0.0%)์ด๋ฉฐ, ์ค๋ฆฝ ๋น์ค์ด ๋๋ ทํ๊ฒ ๋์ต๋๋ค. ์ฑํฅ ์ง์๋ ์ข ํฉ 0.0(์ค๋ ๊ท ํ)์ ๋๋ค.
The core aim remains strategic autonomy, but the method has changed: India no longer stays away from power centres, it engages them simultaneously.
Israeli Ambassador to India Reuven Azar has raised doubts over Pakistan's potential role as a regional mediator, warning India that the Middle East conflict serves as a "preview" of radical tactics that could soon impact its own neighbourhood.In an interview with PTI Videos, he rejected the notion that Pakistan possesses the credibility to act as a mediator in regional negotiations.Labelling the country unreliable, Azar characterized Pakistan as a "problematic player" whose involvement requires the US to exercise "special caution" to avoid potential traps."I don't think they are reliable," he said about Pakistan's mediation role.He added that when mediators lean towards a "terrorist entity" or "legitimize radicalism", it becomes "very tricky because the United States has to exercise special caution not to fall into traps set not only by the opposing side but also by the mediator".The envoy further alleged an increasing connection between radical elements and the region, noting a rise in visits by Hamas leaders to both Pakistan and Bangladesh over the last two years.Turning to the India angle, Azar claimed that because Israel is the most attacked country in the world, the threats it faces often serve as a "preview to a movie coming to a theatre in your neighbourhood".He specifically alleged that radical groups are drawing twisted inspiration from the October 7 attacks and warned that the methodologies of hybrid warfare, including using human shields and manipulating media, are likely to be emulated elsewhere.While commenting on Israel's policy of mandatory military service, Azar refrained from suggesting India adopt similar models.He observed that India is "blessed" with a large territory and population, expressing confidence that the Indian government is making the "right decisions" regarding its own recruitment and defence needs.He, however, noted the "positive aspect of conscription" in maturing young citizens and instilling a sense of responsibility."It doesn't mean that one size fits all. Each country has to find its own way." PTI SHJ ZMN
The recent Supreme Court (SC) judgment on online gaming and betting is expected to have wider implications across gambling, horse racing, and casinos, experts feel. The court clarified that the GST valuation framework is not confined to any one segment but applies across betting and gambling activities.The ruling makes it clear that the tax framework cannot be read narrowly. โRule 31Aโฆ applies broadly to all betting, gambling and horse racingโฆ Limiting its applicability only to horse racing would render parts of the rule otiose,โ a PwC India note on the SC ruling said.Nitin Vijaivergia, partner at Pricewaterhouse & Co LLP, said the judgment upholds the imposition of the top GST slab on online gaming platforms, triggering significant retrospective tax exposure. The courtโs reasoning also centres on how such transactions are structured. It has been clarified that in betting and gambling, valuation can be based on the full amount staked and not merely on a narrower measure.โSection 15(1)โฆ permits valuation based on the entire stake,โ and โmerely because a different method of valuationโฆ may also have been possible, it does not render the Rule unconstitutional,โ the note added.For online gaming and casinos, the judgment clarifies when tax liability arises. The court held that the taxable event is triggered when players commit funds to participate in games with uncertain outcomes and no longer retain control over those funds.This also alters the treatment of player funds. The ruling notes that once amounts are committed for participation, โsuch arrangements cannot be considered deposits or entrustments,โ and โthe entire staked amount is treated as consideration for the supply.โIn the case of casinos, the position is very clear. The court held that tax would be levied on each instance of staking money on an uncertain outcome, and not on the operatorโs net earnings or gross gaming revenue.โThe mention of staking money on โuncertain future outcomesโ may have broader implications for promotional and skill contests with deterministic scoring, and similar other formats. Key operational elements such as wallet architecture, re-deposits, and cashback will be crucial to determine tax demands, especially considering amendments to GST Rules 31 and 31B affecting valuation,โ Vijaivergia said.Tax experts say that, broadly, the GST law will now apply where money or moneyโs worth is staked on uncertain outcomes, and such amounts are treated as consideration for the supply.
The government will launch a revised WPI with a 2022-23 base year and introduce a set of producer price indices on 15 June. The overhaul expands coverage, updates methodology and aligns India's producer inflation framework with global practices.
The National Stock Exchange (NSE) has announced a significant change to trading hours in the equity derivatives segment with the introduction of the Closing Auction Session (CAS) framework.Starting August 3, 2026, the normal market closing time for equity derivatives will be extended by 10 minutes to 3:40 pm from the current 3:30 pm. While the extension is noteworthy, the bigger change lies in how closing prices for eligible securities will be determined.The move aims to ensure a smoother transition between the cash and derivatives markets at the end of the trading day while maintaining consistency in the pricing framework across segments.What is the closing auction session?The CAS is a structured trading window held at the end of the trading day. During this period, market participants place buy and sell orders to determine a single closing price for a security through an auction-based mechanism.Unlike the current system where prices evolve through normal trading until market close, the auction process discovers a fair closing price based on orders entered during the designated session.According to the exchange, CAS will initially apply only to securities in the cash segment that have derivative contracts available. The framework will roll out in phases, and any future expansion will be subject to SEBI guidance and separate operational instructions from the exchange.Why are derivatives trading hours being extended?Although CAS applies only to the equity segment, NSE decided to extend trading hours in the derivatives segment to ensure both markets remain aligned during the closing process.The exchange also clarified that the price bands and pre-trade risk control measures introduced as part of CAS in the cash market will be mirrored in the derivatives segment. This is intended to maintain consistency between the two segments during the closing phase of trading.How will the closing auction session work?The CAS will run for 20 minutes, from 3:15 pm to 3:35 pm. The process will begin with a transition phase between 3:15 pm and 3:20 pm, during which the reference price will be calculated using the volume-weighted average price (VWAP) of trades executed between 3:00 pm and 3:15 pm.Between 3:20 pm and 3:25 pm, participants will be able to enter both market and limit orders. From 3:25 pm to 3:30 pm, only limit orders will be permitted. During this period, market orders cannot be modified or cancelled.The order entry session will close randomly at any point between 3:28 pm and 3:30 pm, after which the auction process will determine the final closing price.How will closing prices be calculated?One key point highlighted by NSE is that there will be no change in the methodology used to calculate closing prices of derivative contracts. The volume-weighted average price (VWAP) used for derivatives closing price calculation will continue to be based on trades executed during the final 30 minutes of trading. However, because market hours are being extended, that 30-minute window will now shift to 3:10 pm-3:40 pm instead of the current 3:00 pm-3:30 pm.For securities eligible for CAS, the closing price in the cash segment will be determined through the auction process.Ashish Nanda, President and Digital Business Head at Kotak Securities summed up the shift by noting that the market is moving from a "continuous trading close" to an "auction discovered close".Under the current framework, closing prices are derived from the VWAP of trades executed between 3:00 pm and 3:30 pm. Under the new framework, closing prices for F&O-eligible stocks will effectively be linked to a 20-minute auction process running from 3:15 pm to 3:35 pm.What happens if a stock is removed from F&O?NSE clarified that eligibility for CAS is linked to the presence of derivatives on the stock. If a security is excluded from the equity derivatives segment on both exchanges, it will no longer be eligible for the CAS.In such cases, the closing price will revert to the existing methodology and be determined using the VWAP of trades executed during the last 30 minutes of trading. However, if the security continues to be part of the derivatives segment on at least one exchange, it will remain eligible for CAS.What happens to pending orders?The exchange outlined operational changes relating to order management. All unexecuted special orders, including stop-loss orders and disclosed quantity orders, will be cancelled. Pending orders that fall outside the revised price band will also be cancelled automatically, and members will receive appropriate cancellation notifications.Why does this matter for traders?For many market participants, the biggest implication is that the final closing price may no longer mirror the last traded price visible on trading screens at 3:30 pm.According to Ashish Nanda, this could require adjustments to trading strategies, particularly for option writers and arbitrageurs who rely heavily on closing prices for valuation, settlement and hedging decisions.While the derivatives market will remain open until 3:40 pm, the broader shift is not simply about extending trading by 10 minutes. It marks a change in how closing prices for eligible securities are discovered, with the exchange moving toward an auction-based mechanism designed to determine a single closing price at the end of the trading day.What happens to existing market timings?Apart from the revised closing time, most trading schedules remain unchanged. The pre-open session in the derivatives segment will continue to begin at 9:00 am and the normal trading session will continue to start at 9:15 am. Similarly, the trade modification window will remain unchanged and continue until 4:15 pm.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
Thailand is considering increasing its long-planned foreign tourist entry fee beyond the proposed 300 baht as authorities review rising insurance and healthcare costs associated with international visitors. The proposal was announced by Surasak Phancharoenworakul, who said the fee, first proposed in 2020 but never implemented, may need to be revised upward to reflect inflation and higher insurance expenses, according to a report by Bangkok Post. The move comes a day after Thailand announced plans to shorten visa-free stays for travellers from 93 countries. According to the Ministry of Tourism and Sports, most of the revenue generated from the fee would be used to provide insurance coverage for tourists, while the remainder would support the maintenance of tourist attractions and tourism-related infrastructure. Government reviewing collection methods Authorities are currently finalising how the fee would be collected without affecting traveller sentiment. One option under consideration is adding the charge to airline tickets. However, airlines have reportedly raised concerns because they would be unable to distinguish between Thai citizens and foreign passengers when collecting the fee. Another option is to collect the fee through the Thailand Digital Arrival Card (TDAC), which foreign visitors are required to complete before entering the country. Officials said the final fee amount will depend largely on projected insurance costs and medical treatment expenses at private hospitals. Visa policy changes The announcement comes as Thailand ends the current 60-day visa exemption for travellers from 93 countries and territories. Authorities are considering a return to shorter visa-free stays and visa-on-arrival arrangements similar to those in place before the recent expansion of visa privileges. The Ministry of Tourism and Sports has also proposed adjustments for certain key markets. Indian travellers will qualify for visa-on-arrival facilities, and the ministry supports introducing a 15-day visa exemption for visitors from India.
The recovery of victims has been slow and methodical.
Foreign portfolio investors (FPIs) emerged as heavy sellers in Indian equities on Friday, pulling out a net Rs 20,637 crore in a single session, recording one of the sharpest single-day selloffs in recent years, as markets grappled with the impact of the latest MSCI index rebalancing.Before this, the sharpest fall occurred last month (April 2, 2026), when FIIs pulled out Rs 19,837 crore in a single day, data from ACE Equity showed.The selloff came as benchmark indices fell 1.5%, with market participants attributing much of the late-session weakness to passive fund flows linked to the index reshuffle. The scale of foreign investor activity stood out not just because of the outflow figure, but also because of the sheer volume traded during the session.FPIs accounted for Rs 198,465 crore of trading activity out of the NSE's total turnover of Rs 287,452 crore, representing nearly 69% of the day's traded value, provisional data on the NSE showed.Despite ending the day as net sellers of Rs 20,637 crore, FPIs traded nearly 9.6 times that amount during the session. In comparison, domestic institutional investors (DIIs) were net buyers of Rs 16,260 crore and recorded total trades worth Rs 53,772 crore, or around 3.3 times their net purchase value.The high participation prompted questions over whether the activity was solely driven by MSCI-related portfolio adjustments or whether high-frequency trading (HFT) strategies amplified volumes around the index rebalance. The size of the turnover also sparked debate over how much of the reported foreign outflow reflected actual portfolio repositioning and how much may have been linked to short-term trading activity.Nilesh Shah, MD of Kotak Mahindra Asset Management, questioned whether the surge in activity was surprising given that Indian equities are currently not a key focus area for FPIs. He also asked whether Friday's volumes were driven purely by MSCI rebalancing or whether high-frequency trading (HFT) activity around the index reshuffle had amplified turnover. Shah further wondered how much of the reported net FPI outflow of Rs 20,637 crore could be attributed to HFT trades.Market expert Gurmeet Chadha also questioned the sharp rise in trading volumes, arguing that โspeed and money muscleโ were being used to distort market moves. He further highlighted the addition of 31,000 short contracts even as Brent crude hovered around $90 a barrel and hopes of a weekend deal persisted. Calling the activity suspicious, he said โwe need to act and trap this cartelโ.According to Abhilash Pagaria, Head of Alternative and Quantitative Research at NuvamaWealth, the rebalancing led to outflows of around Rs 8,000-8,500 crore. He said the figure was somewhat higher than in previous reviews due to free-float adjustments in stocks such as Bajaj Finance, HUL and TCS, among others, describing the impact as a one-time adjustment arising from a new methodology.MSCI RejigMSCI's latest review saw Federal Bank, MCX, NALCO and Indian Bank added to the MSCI Standard Index, while Hyundai Motor India, Jubilant FoodWorks, Kalyan Jewellers and RVNL were removed. The changes took effect at the close of trade on May 29.The review also resulted in weight increases for Adani Power, BPCL, Nykaa, Trent and OFFS. Despite the reshuffle, India's overall weight in the MSCI Standard Index remained broadly stable at around 12.3%, compared with 12.4% earlier. The total number of Indian constituents in the index also remained unchanged at 165.Beyond the Standard Index, MSCI announced a broader rejig of its Small Cap Index. According to Nuvama, more than a dozen Indian stocks were excluded, reducing the India stock count to 459 from 474. New additions included IREDA, Anthem Biosciences, Fractal Analytics, Pine Labs and Emmvee Photovoltaic, while Cello World, Redtape, Raymond Lifestyle, Indigo Paints, Balu Forge and Blue Jet Healthcare were among the exclusions.Index review days typically witness elevated volumes as passive funds tracking MSCI benchmarks adjust their holdings to match the revised composition.(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of The Economic Times)
The National Stock Exchange (NSE) has extended trading hours for the equity derivatives segment by 10 minutes, with the normal market closing time revised to 3:40 pm from the current 3:30 pm. The change will come into effect from August 3, 2026.According to an NSE circular, the pre-open session timings in the derivatives segment will remain unchanged, with trading beginning at 9:00 am and the pre-open session ending at 9:08 am through a system-driven random closure in the final minute. The normal market session will continue to open at 9:15 am.The trade modification window will also remain unchanged and will continue until 4:15 pm.There will be no change in the methodology used for computing closing prices of derivative contracts. NSE said the volume-weighted average price used for close price calculation will continue to be based on trades executed during the last half hour of trading, which will now be from 3:10 pm to 3:40 pm.The exchange added that the functional changes arising from the implementation will be made available for testing during mock trading sessions. A separate circular detailing the mock sessions will be issued later.The exchange will also broadcast a message on NEAT trading terminals at the start of the Closing Auction Session in the equity segment when the operating price range for stock futures is reset. As part of the process, outstanding orders lying outside the revised price range will be cancelled by the exchange in accordance with existing rules.
Mumbai: India's equity indices fell 1.5% on Friday, posting losses for the month, as outflows on account of MSCI index rebalancing triggered a late decline during the trading session. The extension of the tentative ceasefire deal by 60 days eased oil prices but did little to improve sentiment in equities, with Donald Trump yet to sign off on it.The NSE Nifty closed at 23,547.75, down 1.5%, or 359.40 points, while the BSE Sensex ended at 74,775.74, down 1.4% or 1,092.06 points. For May, the Nifty and Sensex slipped 1.9% and 2.8% lower, respectively.Both indices were on track to post modest gains on Friday but selling in the last 30 minutes sent shares tumbling."The MSCI rebalancing led to outflows worth โน8,000-8,500 crore, which were slightly higher than previous instances, but that was due to float adjustments in certain names like Bajaj Finance, HUL, TCS, and many others," said Abhilash Pagaria, head of alternative and quantitative research, Nuvama Wealth. "This is a one-time new methodology adjustment that weighed on the market on Friday."When global index providers like MSCI add or remove stocks in their indices, passive funds tracking these are forced to buy or sell them in line with the new weights.131402604Fear Gauge Jumps On Friday, Federal Bank, MCX, Nalco and Indian Bank were added to the MSCI Standard Index, while Hyundai Motor India, Jubilant FoodWorks, Kalyan Jewellers and RVNL were excluded.According to Nuvama Alternates, India's weight in the MSCI Standard Index is expected to remain broadly stable at around 12%, with the overall stock count unchanged as four got added and four were excluded.All sectoral indices ended lower on Friday with the IT index bucking the weak trend. Nifty Oil & gas dropped 2.5% while Nifty Metal and Auto indices fell around 2%. Nifty Consumer Durables and FMCG indices declined close to 1.5% while Bank Nifty slid 1.1% lower.Even before the sell-off linked to the MSCI index rejig, gains were measured in response to the provisional deal between the US and Iran."The deal for extension of ceasefire between the US and Iran is not yet signed and it doesn't seem that either of them is in a hurry to sign the deal either," said UR Bhat, cofounder and director, Alphaniti. "The nuclear material in Iran remains a point of contention and investors don't expect a concrete agreement immediately. If the stalemate continues and oil prices shoot up, then the market could see declines. However, if it is signed, then some respite is likely."Brent crude oil futures eased about 2% to nearly $90 on Friday after rising 0.5% on Thursday.The India VIX volatility index jumped 8% to 16.2 on Friday, suggesting traders are not convinced that risks have subsided. The measure was, however, down 9% in the week. "Nifty is stuck in a downward sloping range of around 24,000 levels on the higher side and 23,250-23,000 on the lower side," said Vipin Kumar, AVP, Globe Capital Market. "These levels are unlikely to be broken in the coming week."Foreign portfolio investors sold shares worth a net Rs 21,105.9 crore on Friday, while domestic institutional investors bought shares worth Rs 16,764.1 crore. In May, foreign investors sold shares worth Rs 49,192 crore."Overseas investors could continue to churn large-cap holdings. However, the broader market remains resilient and poised for outperformance," said Pagaria.Out of 4,463 shares traded on the BSE, 1,611 advanced, and 2,673 declined. The Nifty Midcap 150 index declined 1.4%, while the Nifty Smallcap 250 ended 0.7% lower. In the past week, the two gained 1% and 1.2%, respectively.
Drones are revolutionizing warfare, with their cost-effectiveness making them ubiquitous. Counter-drone systems are evolving rapidly, increasingly relying on non-kinetic methods like lasers and EMPs to neutralize threats. Advanced detection and identification technologies, including AI and sophisticated sensors, are crucial in this escalating technological arms race.
Betting platforms aggressively target users during IPL season
India is undertaking the revision of Index of Industrial Production (IIP) and plans to release the new series on June 1, 2026, marking the tenth revision of base year. The Ministry of Statistics and Programme Implementation (MoSPI) has broadened the scope of the index to include 120 new item groups and enhance the granularity by providing separate indices for numerous sectors.The base year of IIP is being shifted to 2022-23 from 2011-12. The new IIP will track several new items such as magnetic stripe cards including debit and credit cards, CCTV cameras, non-woven textile products, aircraft and spacecraft parts, stents, and vaccines.The revised series significantly widens the scope of industrial activity captured in the index by adding emerging and previously underrepresented sectors such as rare earth minerals, gas supply, water management and waste treatment.MoSPI has also overhauled the product basket to better reflect contemporary industrial production patterns, replacing obsolete items with newer commodities and aligning the series with the updated National Industrial Classification (NIC)-2025 framework. The revised basket now comprises 1,042 products mapped to 463 item groups, including 120 new item groups. MoSPI has dropped 64 item groups from the list, which include kerosene, fluorescent tubes and CFLs, tubes for bicycle, tricycle and rickshaw tyres.The new series introduces more granular sub-indices, including separate tracking of renewable and non-renewable electricity generation, allowing policymakers to better monitor Indiaโs evolving energy mix. The mining and quarrying segment has also been split into dedicated indices for fuel minerals, metallic minerals and non-metallic minerals.The revised methodology also allows statistical authorities to replace permanently shut factories with comparable operating units and induct newly commissioned large factories into the sample base during the life of the series. This is expected to improve the representativeness and timeliness of industrial output data.MoSPI will use a geometric mean-based approach to transition from the 2011-12 base series to the new 2022-23 series.Why is the base year being revised?According to a government release, the IIP base year is revised to reflect structural changes in the economy, technological progress, and the growth of new industries and products. โRevising the base year ensures that the index accurately represents current production patterns and provides more reliable data for economic analysis and policy-making,โ MoSPI said.A Report of the Technical Advisory Committee for โNew Series of All India Index ofIndustrial Production 2022-23โ highlighted the need for periodic revision which arises from the dynamic nature of the economy.โThe structure of production, the relative importance of industries, and the range of products manufactured undergo continuous change over time,โ it said, adding that regular revisions of the base years of economic indicators like IIP are therefore essential to ensure that they remain representative of current industrial activity.The index must continue to accurately reflect evolving economic realities.Citing โsignificantโ advancements in statistical methodologies and computational capabilities over the period, MoSPI report said that the processes that were difficult to execute have now become relatively easier to implement.The new IIP series retains the existing sectors of Mining, Manufacturing, and Electricity. However, it expands the scope by including Gas Supply and Water Supply, Sewerage & Waste Management activities, giving a broader and more accurate picture of industrial production. In the Mining sector, the new IIP series also includes minor minerals and rare earth minerals along with major minerals, making the index more comprehensive.131367884The item basket for sectors, other than Manufacturing, is selected based on the nature of activities and key measurable outputs of each sector. MoSPI, in certain cases, has held consultation with concerned ministries and departments.The new item baskets are as follows:The โMining & Quarryingโ basket includes 34 minerals comprising fuel minerals and metallic & non-metallic minerals regulated, along with 1 rare earth mineral and 9 minor minerals.The โElectricityโ basket covers total electricity generation from both renewable and non-renewable sources.The โGas Supplyโ basket uses the volume of gas supplied or distributed through mains/pipelines as the item of measurement.Under the โWater Supply, Sewerage & Waste Managementโ, the government tracks water supply through tap connections, sewerage through sewerage/septage connections and waste management through the quantity of waste collected and processed.MoSPI has formed the item groups for IIP by aggregating products based on similarity within the industry group to ensure consistency, comparability, and operational feasibility in monthly data reporting.The government has also kept the revision of substitution of the factories in the new series of IIP to address the challenges of prolonged non-response or closed factory.While the six use-based categoriesโPrimary Goods, Capital Goods, Intermediate goods, Infrastructure/ Construction Goods, Consumer Durable Goods and Consumer Non-Durable Goodsโremain the same as the 2011โ12 series, individual item classifications have been reviewed in detail and updated.Why is IIP important?The report recognised that the index is โnot just a technical statistical indicator, but an important measureโ that stakeholders understand the health and direction of the economy.The IIP provides one of the earliest signals of industrial performance, and hence plays a crucial role in economic planning, policymaking, and market analysis.The index plays a pivotal role in tracking cyclical conditions, informing fiscal and monetary policy deliberations, and shaping expectations of businesses and investors, helped by macro and sectoral analysts.MoSPI believes in the idea that economic statistics must keep pace with the economic transformations, and hence new products, emerging technologies, evolving production systems, and changing patterns of industrial activity are being included in the index calculation.โIndustrial statistics cannot remain fixed while industries themselves are rapidly changing,โ it said in the report cited above.
Mantra chanting transcends mere repetition, with distinct methods profoundly altering the experience and mental impact. From loud Vaikhari Japa for atmosphere to inward-focused Upanshu and mental Manasik Japa, each form offers unique benefits. Likhit Japa grounds restless minds, while Sankirtan fosters collective energy. Advanced Ajapa Japa sees the mantra flow effortlessly, signifying a deep spiritual connection.
Scientists used advanced radar polarimetric methods to study the craters.
An expert said that 47% of farm work was now mechanised, and that the introduction of scientific methods has led to surplus production