[NATIONAL]

US, Japan, Australia, India hold Malabar naval exercise in the Bay of Bengal (↓)

The ‘Quad’ nations say they are working together to realize a free and open Indo-Pacific region and counter China’s growing economic and military clout.

Need to ensure Afghan territory does not become a source of terrorism: PM Modi at G20 summit on Afghanistan (↓)

PM Modi told the G20 summit on Afghanistan that there should be an “inclusive administration” in the country 

Cross-border terrorism isn’t statecraft: External Affairs minister S Jaishankar (↓)

Addressing foreign ministers’ at the Conference on Interaction and Confidence-Building Measures in Asia (CICA) in Kazakhstan, Jaishankar said the world no longer tolerates the use of terrorism by one state against another.

Modi’s new adviser Amit Khare is an IIM grad, helped NEP launch (↓)

A 1985-batch IAS officer from the Jharkhand cadre, Amit Khare has earlier served as I&B secretary and higher education secretary. He retired in September.

Over 10 crore Indians own cryptocurrency, highest in the world: Report (↓)

A study conducted by the portal BrokerChoose’s annual crypto proliferation index reveals that at over 10 crore Indians has the largest number of crypto owners in the world followed by the US and Russia.

PM Modi unveils Rs 100 lakh crore Gati Shakti plan

PM launched the ambitious Rs 100 lakh crore Gati Shakti Master Plan to provide multi-modal connectivity to more than 1,200 industrial clusters, including two defense corridors across the country. “We are laying a foundation for the next 25 years. This national master plan will give ‘gatishakti’ to development plans of the 21st century and will help in the timely completion of these plans,” the Prime Minister said. (For details see yesterday’s newsletter)

Bhutan’s exports hit by ‘extortion racket’ of Bengal journalists, SSB officers, police probe on

Bhutan hasn’t taken up the matter officially with India, but officials say extortion is common at border posts like Jaigaon and has become more common since Covid lockdowns.

IMF warns supply snarls slowing global recovery

The global economy is expected to grow 5.9% this year, only slightly lower than projected in July, before slowing to 4.9% in 2022, the IMF report said. But the overall figures mask large downgrades and ongoing struggles for some countries, including the US, Germany, and Japan that are feeling the impact of supply bottlenecks, IMF chief economist Gita Gopinath said.

India to increase coal production to two million tonnes per day in a week (WION)

Govt. sources told that there is no shortage in the daily supply of coal to states and power companies and it is maintaining 5 days stock, In a month’s time situation will be back to normal. The govt is ramping up its coal production from 1.94 to 2 mn tonnes/day within a week. (for more, Oct 7^th newsletter)

Delay in picking judges not government’s fault: Kiren Rijiju

Speaking exclusively to TOI about large vacancies in various HCs and the time lag between each set of recommendations and appointments, the law minister said that if the vacancies in the HCs are examined it could be seen they are not pending with the government.

PM Modi to host Sri Lankan Prez Rajapaksa in UP’s Kushinagar on Oct. 20

Rajapaksa will land at the new Kushinagar International Airport which will be inaugurated the same day by Modi. PM Modi and Sri Lanka President Gotabaya Rajapaksa will be in Kushinagar in Uttar Pradesh on Oct 20. The Sri Lankan President will be accompanied by a 2-dozen-member official and 125 Buddhist monks Ambassadors of many foreign countries are also expected to be in Kushinagar that day, especially of countries with Buddhist populations, while it remains doubtful about China, with a significant Buddhist population (News18).

[ NEIGHBORHOOD ]

China says military drills near Taiwan are a ‘just’ move (↓)

Chinese military exercises near Taiwan are targeted at forces promoting the island’s formal independence and are a “just” move to protect peace and stability, China’s Taiwan Affairs Office said on Wed (Oct 13).

China opposed the visit of the Vice President:

China doesn’t recognize the so-called Arunachal Pradesh illegally set by India and firmly opposes the recent visit of India’s vice president M Venkaiah Naidu to the area: Chinese FM spokesperson Zhao Lijian. “The area is called Zangnan in China.

China plans to ban non-Communist media outlets in a further blow to free speech (↓)

China may prohibit all private investment in the media, implying that the Communist Party would finance it entirely. A submission to a senior decision-making committee would halt spending in news collecting and broadcasting.

Afghan Embassy in India reels under the financial crunch

Afghanistan’s embassy in India is under a financial crunch as the funds from Kabul have been stopped to the mission in New Delhi after the Taliban regime took over the country. The embassy has been instructed to cut unnecessary expenditure, With no communications being established between Kabul and New Delhi, the official noted that “the situation of diplomatic decision making is in limbo.”

US, Japan, Australia, India hold Malabar naval exercise in the Bay of Bengal

The naval forces of the United States, Japan, Australia, and India have started a joint exercise, Pentagon press secretary John Kirby confirmed, in the face of China’s maritime assertiveness in the region.

• The drill involves two Japanese escort vessels, the US nuclear-powered aircraft carrier Carl Vinson, an Australian frigate, and an Indian destroyer
• The ‘Quad’ nations say they are working together to realize a free and open Indo-Pacific region and counter China’s growing economic and military clout

Japan  Maritime Self-Defence Force (SCMP) -The 4 nations (Quad) are holding the Malabar exercise from Tuesday to Thursday in the Bay of Bengal, NE Indian Ocean.

The exercise involves 2 Japanese escort vessels, the US Navy’s nuclear-powered aircraft carrier Carl Vinson, an Australian frigate, and an Indian destroyer to realize a free and open Indo-Pacific region and counter China’s growing economic and military clout.

The four countries also held a joint drill in late August as they bolster security cooperation.

“… recommit to promoting the free, open, rules-based order, rooted in international law and undaunted by coercion, to bolster security and prosperity in the Indo-Pacific and beyond,” QUAD said in a joint statement released in Sept.

In a press conference on Wednesday, Seiji Kihara, Japan’s deputy chief cabinet secretary, said, “I would like these exercises to lead to strengthening ties with the US, India, and Australia that share a vision for a free and open Indo-Pacific.”

• The Malabar exercises started in 1992 as a bilateral drill involving the US and Indian navies, with Japan joining in 2015, while Australia returned in 2020 after last taking part in 2007.
• Speaking to Indian media, the US Navy’s Chief of Naval Operations Admiral Michael Gilday said the exercise could expand in the future, but it was up to the partners to discuss that.
• There were already multiple exercises taking place in the Indo-Pacific annually, he pointed out.
• In April, the four nations joined the French navy for a three-day ‘Quad-plus’ La Perouse naval exercise in the Bay of Bengal.
• In August, the US launched a large-scale, all-domain military exercise in the Indo-Pacific region with Britain, Australia, and Japan, the first of its kind in more than four decades.

Need to ensure Afghan territory does not become a source of terrorism: PM Modi at G20 summit on Afghanistan

Prime Minister Narendra Modi on Tuesday, while participating in the virtual G20 summit on Afghanistan called for urgent humanitarian assistance for Afghan citizens.

• PM also asserted that Afghanistan’s territory should not become “the source of radicalization and terrorism”. 
• The PM emphasized the need to enhance the joint fight against the nexus of radicalization, terrorism, and smuggling of drugs and arms in the region (PMO).
• “A unified international response based on UNSC Resolution 2593 is necessary to improve the situation in Afghanistan,” PM said.
• PM Modi also called for an “inclusive administration” in Afghanistan. 
• He also called on the international community to forge a unified response to Afghanistan’s situation.

The meeting was convened by Italy which currently holds the G20 presidency and chaired by Italian PM Mario Draghi.

PM on Indo-Afgan Ties: underscoring the centuries-old people-to-people ties between India and Afghanistan, PM mentioned that over the last 2 decades, India has contributed to promoting socio-economic development and capacity building of youth and women in Afghanistan.

He also recalled that over 500 development projects have been implemented in Afghanistan by India. PM noted that the Afghan people have a great feeling of friendship with India.

IMF warns supply snarls slowing global recovery

Indian economy to grow at 9.5% in 2021: International Monetary Fund

India’s economy, which contracted by 7.3% due to the COVID-19 pandemic, is expected to grow by 9.5% in 2021 and 8.5% in 2022, according to the latest projections released by IMF on Tuesday.

India’s growth projection released by the latest World Economic Outlook remains unchanged from its previous WEO (World Economic Outlook) update of July this summer but is a 3% point in 2021 and a 1.6% point drop from its April projections.

WEO update – released ahead of the annual meeting of the IMF and the World Bank, the world is expected to grow at 5.9% in 2021 and 4.9% in 2022.

Gita Gopinath, Chief Economist, IMF- Compared to their July forecast, the global growth projection for 2021 has been revised down marginally to 5.9% and is unchanged for 2022 at 4.9%. However, this modest headline revision masks large downgrades for some countries.

• The foremost policy priority is, therefore, to vaccinate at least 40% of the population in every country by the end-2021 and 70% by mid-2022.
• The dangerous divergence in economic prospects across countries remains a major concern, she said aggregate output for the advanced economy group is expected to regain its pre-pandemic trend path in 2022 and exceed it by 0.9% in 2024.

Last month authorities in China’s Yunnan province had announced the average monthly output of local silicon companies should not exceed 10% of the August output from September to December period leading due to the power shortage, which has affected several industries linked to the product.

• The shortage of semiconductors has already hit the global supply chain amid the pandemic alarming automakers.

Modi’s new adviser Amit Khare is an IIM grad who exposed Lalu’s fodder scam, helped NEP launch

The former higher education secretary, A 1985-batch IAS officer (Jharkhand cadre) Amit Khare, who played a key role in implementing the new National Education Policy (NEP) and brought in key policy changes, was appointed as an adviser on a contractual basis for two years to Prime Minister Narendra Modi on Tuesday.

He had taken certain decisive changes, like implementing NEP, Academic credit system, 4 years of graduation resolved JNU fees crisis, unearthed the Bihar fodder scam, and brought the IT Rules released earlier this year.

Armenia supports India’s bid for a permanent seat at UNSC

Armenian FM Ararat Mirzoyan said at a joint press conference with his Indian counterpart S Jaishankar in Yerevan that the latter’s visit is a testament to the deepening and enhancing relations between the two friendly countries and peoples, and that the visit will boost the Armenian-Indian ties in all sectors.

Armenia and India are enhancing cooperation in various areas, and the FMs of the two countries reached concrete agreements over the effective implementation of several projects.

• Mirzoyan was pleased to note the agreements reached during the meeting and reiterated Yerevan’s readiness to swiftly implement all agreements.
• This year marks the 30^th anniversary of the establishment of diplomatic relations between Armenia and India, and the Mirzoyan attached importance to taking steps in the defense, political, economic, and cultural sectors to elevate the relations.
• Mirzoyan reiterated Armenia’s support to India in the issue of becoming a permanent member of the UN Security Council.

The Armenian side also offered to hold bilateral political consultations and the meeting of the inter-governmental commission.

Cross-border terrorism isn’t statecraft: Jaishankar

Addressing foreign ministers’ at the Conference on Interaction and Confidence-Building Measures in Asia (CICA) in Kazakhstan, external affairs minister S Jaishankar said the world no longer tolerates the use of terrorism by one state against another, who is on the visit of Kazakhstan.

Jaishankar -“Cross-border terrorism is not statecraft; it is simply another form of terrorism…. Any calculation that extremism, radicalization, violence, and bigotry can be used to advance interests is a very short-sighted one” (pointed towards Pakistan & Taliban)

Peace in South Asia is not possible without resolution of the Kashmir issue, said Pakistan Foreign Minister SM Qureshi on Tue while addressing the 6^th Ministerial Meeting of the CICA through a video statement.

He raked up the Kashmir issue at a multilateral meeting in Kazakhstan, saying that sustainable peace in South Asia was not possible without the resolution of the “core dispute” with India.

While India has repeatedly told Pakistan that Jammu and Kashmir “was, is and shall forever” remain an integral part of the country.

• Jaishankar took a jibe at China too, saying while connectivity was essential in the modern-day, it needed to follow certain rules.
• “…it is essential that the most basic principles of international relations … Respect for the sovereignty and territorial integrity of nations rank foremost among them,”

Dr. Jaishankar on Tue met his Mongolian counterpart, Battsetseg Batmunkh, and discussed “development partnership“. He assured that India will always remain a strong spiritual neighbor.

• On Mon, Jaishankar had arrived at Nur-Sultan and participated in Conference on Interaction and Confidence-Building Measures (CICA) Ministerial.
• Jaishankar began his Kazakhstan visit with a bilateral meeting with Uzbek foreign minister Abdulaziz Kamilov.

CICA was established in 1999 as a forum aimed at enhancing cooperation through elaborating multilateral approaches towards promoting peace, security, and stability in Asia.

• It currently has 27 member states and 9 observer states and 5 observer organizations.
• India is a member of CICA since its inception in 1999 and has been actively participating in various activities conducted under the aegis of CICA.

Dr. Jaishankar also met FM of Bahrain and tweeted, “On the 50^th anniversary of our diplomatic relations, a great pleasure to meet my counterpart FM Dr. Abdullatif bin Rashid Al-Zayani of Bahrain.”

Over 10 crore Indians own cryptocurrency, highest in the world: Report

Indians are outpacing the rest of the world when it comes to cryptocurrency adoption even as investors are still awaiting the official verdict on cryptocurrency exchanges in the country.

India has the 5^th-highest rate of crypto owners at 7.3% just lower than Ukraine (12.73%), Russia (11.91%), Kenya (8.52%), and the US (8.31%).

In the last year, India had the 2^nd-highest number (nearly 36 lakh) of total crypto searches, while the US was the highest number (69 lakh), out of 154 countries in 2021.

India’s market grew 641% over the past year.

“Large institutional-sized transfers above $10 million worth of cryptocurrency represent 42% of transactions sent from India-based addresses,” said the report, adding that the numbers suggest that India’s cryptocurrency investors are part of larger, more sophisticated orgs.

Point to note:

• The world’s biggest cryptocurrency, bitcoin, has already gained more than 50% since the start of the year.
• The one-year gain stands at around 400%, which is promoting more and more Indians to opt for crypto exchanges.
• A survey conducted by consulting firm Kantar shows that 19% of urban Indians intend to invest in virtual tokens in the next 6 months.
• And when it comes to crypto ownership, Bitcoin rules the roost with a preference of 75%, followed by Ethereum at 40%, Binance coin at 23%, and XRP at 18%.
• One major attraction is the chance to earn high profits by investing in small amounts.
• WazirX allows investments into bitcoin with as little as Rs100-500.
• Indians who own cryptocurrency are mostly in the age bracket of 21 to 35 and live in metro cities.
• Crypto exchange Zerodha has over 7 mn users against 11 mn at CoinSwitch Kuber, while 8.3 mn at WazirX.
• Last week, CoinSwitch Kuber raised over $260 mn in a Series C funding round from a clutch of investors, valuing the company at $1.9 bn.
• A 19% of urban Indians intend to invest in virtual tokens in the next six months- consulting firm Kantar.

The company tracks the movement of cryptocurrencies on blockchain to help financial crime compliance. Earlier in May, a Brazilian money management firm focused on cryptocurrencies raised about $26 million from investors including SoftBank Group Corp and in July the SoftBank Latin America fund invested $200 million in the Series B funding of 2TM Group, the digital asset group that owns cryptocurrency exchange Mercado Bitcoin.

China plans to ban non-Communist media outlets in a further blow to free speech

In a further blow to the country’s freedom of expression, the Chinese government is proposing new regulations that would prohibit news reporting by sources that are not directly financed by the Communist Party, which would strengthen the CCP’s Chinese govt’s control over news and information. 

As per a paper filed with China’s National Development and Reform Council (SDRC) on Fri, private cash cannot be used to support news collecting, broadcasting, and distribution, including social media. 

• It would also prohibit news organizations from duplicating news information produced by foreign media organizations.
• Hong Kong’s SCMP, which is owned by Alibaba, and the financial news site Caixin, which is funded by Tencent, might be affected. 
• CCP’s website– the SDRC is ‘soliciting public opinion’ on adding private sector involvement in media organizations to a list of prohibited ventures, according to Radio Free Asia. 
• According to a CFR analysis, China has one of the world’s most restricted media environments, depending on censorship to regulate content in the news, online, and on social media.
• The Chinese government employs libel lawsuits, arrests, and other tactics to force Chinese journalists and media companies to restrict themselves.
• Most US websites, including Facebook, Instagram, and other Google services, are banned in China.
• Authorities in China can crackdown on news articles by alleging that they disclose state secrets and harm the country.
• In China, the concept of state secrets remains ambiguous, allowing authorities to suppress any material they deem damaging to their political or economic interests.

China says military drills near Taiwan are a ‘just’ move

China’s Taiwan Affairs Office (Ma Xiaoguang) -Chinese military exercises near Taiwan are targeted at forces promoting the island’s formal independence and are a “just” move to protect peace and stability.

Military tensions with China are at their worst in more than 40 years, Taiwan’s defense minister said last week, adding that China will be capable of mounting a “full-scale” invasion by 2025, after China mounted 4 straight days of mass air force incursions into Taiwan’s air defense identification zone, from Oct 1, part of a pattern of what Taipei views as “military harassment” by Beijing

Ma – the cause of current tensions was Taiwan’s ruling Democratic Progressive Party’s (DPP) “collusion” with foreign force and “provocations” over seeking Taiwan’s independence.

• Chinese drills are aimed at this collusion – a veiled reference to US support for Taiwan – and separatist activities, protecting the country’s sovereignty and territorial integrity as well as peace and stability in the Taiwan Strait, he added.
• China regards Taiwan as a renegade province awaiting reunification, by force if necessary. Taiwan says it will defend its freedoms and democracy, blaming China for the tensions.
• However, both Chinese President Xi Jinping and Taiwan President Tsai Ing-wen made relatively conciliatory speeches at the weekend.
• Xi did not mention resorting to force over Taiwan, while Tsai reiterated a desire for peace and dialogue with China.

China opposed the visit of Vice President

China doesn’t recognize the so-called Arunachal Pradesh illegally set by India and firmly opposes the recent visit of India’s vice president M Venkaiah Naidu to the area: Chinese FM spokesperson Zhao Lijian.

Added to this state media GT informed “The area is called Zangnan in China.”

Vice President of India and Rajya Sabha Chairman M.Venkaiah Naidu, who reached Arunachal Pradesh on Fri (Oct 8) for a three days visit, asserted that the North-Eastern Region (NER) is now decisively breaking from its troubled past and is witnessing a New Era of Resurgence (NER) as evident in substantial improvement in economic and Human Development Indices, expansion of infrastructure development and a steep decline in insurgency over the last 7 years.