Decisive, Inclusive, Forward-Looking: FM Sitharaman Urges Global South to Unite at NDB
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Time of India
19 hours ago
- Time of India
A beginning but with caution: Sitharaman hints at easing India-China economic ties; says 'we need a lot more interaction'
Finance minister Nirmala Sitharaman on Saturday signaled a possible revival of India-China business relations, saying both sides have shown interest in reviving economic engagement after years of tension. Speaking at a Delhi event to mark the release of a book in honour of economist Shankar Acharya, the finance minister noted that "a beginning has been made" following external affairs minister S Jaishankar's recent visit to China. Sitharaman said stakeholders within India have been urging the government to ease investment restrictions on Chinese firms, and that Beijing has also reached out through diplomatic channels. "We need more access, and we need to have a lot more interaction, and possibly open some windows. And that's not just from our side, even the Chinese have been approaching through the MEA," she said. "There is something, some kind of a beginning, as to how much it will take us far; how far it will go is something we will have to wait and see. It might help the economy; however, a sense of caution would have to be built in," she added. by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Is it better to shower in the morning or at night? Here's what a microbiologist says CNA Read More Undo Ties between the two nations soured sharply after the 2020 Galwan Valley clash in Ladakh, prompting India to impose tighter foreign direct investment (FDI) norms for neighbouring countries, suspend tourist visas for Chinese nationals, and ban several Chinese apps. These restrictions came alongside the onset of the Covid-19 pandemic. In recent months, however, both sides appear to be taking tentative steps toward normalisation. India resumed issuing tourist visas for Chinese nationals this week to advance Indian renewable projects. While China lifted its visa restrictions on Indian citizens in March. Jaishankar visited China recently, his first visit in six years, meeting Chinese President Xi Jinping as both nations work towards improving relations. The government had earlier made exceptions to allow Chinese professionals involved in key renewable energy projects to return. Sitharaman also highlighted progress in India's broader trade diplomacy, noting that bilateral trade talks with the US and European Union are advancing well. "It is bilateral trade which is taking priority over multilateral trade. On the bilateral trade front we are moving forward and we have seen bilateral agreements been signed in the last four-five years with Australia, UAE and the UK. Negotiations are progressing well with the United States as well as the European Union," she noted. Stay informed with the latest business news, updates on bank holidays and public holidays . AI Masterclass for Students. Upskill Young Ones Today!– Join Now
The Print
20 hours ago
- The Print
Maintaining sustained growth top priority, says FM Sitharaman
The Economic Survey has projected the GDP growth for FY26 between 6.3 per cent and 6.8 per cent, while the RBI lowered its growth forecast from an earlier level of 6.7 per cent to 6.5 per cent for the ongoing financial year. The statement assumes significance as the Indian economy grew by 6.5 per cent in FY25. This growth was the slowest in four years, and compares to a 9.2 per cent expansion in the previous 2023-24 fiscal. New Delhi, Jul 26 (PTI) Maintaining sustained growth is the top priority amid global uncertainties, and an incremental rise in public capital expenditure is one of the drivers for economic development, Finance Minister Nirmala Sitharaman said on Saturday. Speaking at a book release event here, Sitharaman said, 'To maintain the growth is the topmost priority. Growth is the topmost, and therefore, it will have an overlap with how you create jobs…' Keeping India relevant amid global challenges and being there in a leadership position, and moving forward along with other countries are other priority areas, she said, adding that the priority would also be to redefine the voice of the Global South. Finding resources for meeting many domestic economic aspirations within fiscal constraints is another priority, she said while releasing the book titled 'A World in Flux: India's Economic Priorities'. She further said the incremental rise in public capital expenditure is one of the primary drivers of sustained economic growth. 'Public investments have kept pace. It has been Prime Minister Narendra Modi's clear instruction that we have to have capital expenditure grow and grow significantly. I confidently believe that it is one of the primary drivers of sustained economic growth,' she said. The other focus area of the government is to push growth through a friendly and attractive FDI policy to be able to get more and more investments happening in India. Besides, she said, the healthy competition among states to attract investment is also a good sign. Speaking about bilateral trade deals, the finance minister said such agreements are taking priority over multilateral trade. 'On the bilateral trade front, we are moving forward and we have seen bilateral agreements being signed in the last four to five years with Australia, UAE and the UK. Negotiations are progressing well with the United States as well as the European Union,' she said. Asked about relations with China, Sitharaman said it is getting a bit better, and the beginning has been made with the visit of the External Affairs Minister recently. 'We need more access, and we need to have a lot more interaction, and possibly open some windows. And that's not just from our side, even the Chinese have been approaching through the MEA. 'So, you had External Affairs Minister S Jaishankar go. There is something, some kind of a beginning, as to how much it will take us far; how far it will go is something we will have to wait and see. It might help the economy; however, a sense of caution would have to be built in,' she added. PTI DP BAL BAL This report is auto-generated from PTI news service. ThePrint holds no responsibility for its content.
Hindustan Times
20 hours ago
- Hindustan Times
Over 1,300 seats added across five new IITs for 2025–26: Education ministry
New Delhi: Over 1,300 seats have been added across undergraduate (UG), postgraduate (PG) and PhD programmes at five third-generation Indian Institutes of Technology (IITs) for academic year 2025-26, said an education ministry official on Saturday. In the 2025-26 Union Budget, finance minister Nirmala Sitharaman announced 6,500 additional seats for IITs established after 2014. (Representative photo) Of the total 1,364 seats added at IITs in the 2025-26 academic year, IIT Bhilai accounts for the highest share with 378 seats, followed by IIT Dharwad with 343 seats, IIT Jammu with 251 seats, IIT Tirupati with 199 seats, and IIT Palakkad with 193 seats. 'The seats are added in various courses at these IITs in accordance with the demands of the course as shared by the institutions. Approvals have been given for addition of seats for these IITs till 2028-29 in a phased manner,' said a senior official from the education ministry. Also Read: Union Budget: 10,000 additional medical seats, 6,500 more in IITs in edu push In the 2025-26 Union Budget, finance minister Nirmala Sitharaman announced 6,500 additional seats for IITs established after 2014. Among the six new IITs set up between 2015 and 2016—Palakkad, Bhilai, Jammu, Dharwad, Tirupati, and Goa. IIT Goa was excluded from the expansion as it is yet to shift to a permanent campus, contrary to the original plan of all new IITs becoming fully operational within four years of establishment. On May 7, 2025, the Union Cabinet approved the expansion of academic and infrastructure capacity at the five IITs, with a total investment of ₹11,828.79 crore over four years (2025-26 to 2028-29). Over the four academic years from 2025-26 to 2028-29, the five new IITs—Bhilai, Dharwad, Jammu, Palakkad, and Tirupati—will collectively add 6,576 seats. Also Read: Four IIT-Kanpur profs to impart AI training to Uttar Pradesh MLAs, schedule worked out Among them, IIT Bhilai will record the maximum addition of 1,485 seats, followed closely by IIT Dharwad with 1,473 seats. IIT Jammu will add 1,288 seats, IIT Palakkad 1,264, and IIT Tirupati 1,066. According to the expansion plan for 6,576 seats over four years, 1,364 seats have been added in 2025-26, followed by a planned addition of 1,738 seats in 2026-27, 1,767 seats in 2027-28, and 1,707 seats in 2028-29. On completion of the expansion project, these five IITs will enroll 13,687 students against current student strength of 7,111 – an increase of 92.47%. The Union Cabinet had approved the creation of 130 faculty posts in these IITs in May, and recruitment process has started, officials said.
