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Time of India
an hour ago
- Time of India
Jindal hopes for 8 trillion dollar economy in 6 years
Hubballi: India will achieve an eight trillion dollar economy in the next six years, Parth Jindal, managing director of JSW Cement Limited and JSW Paints said. Addressing the 97th Founders Day of the Karnatak Chamber of Commerce and Industry (KCCI) here on Saturday evening, Jindal said that Indians need not worry about the US President Donald Trump's statement regarding a dead economy. "The Indian economy is the fastest-growing one. Since we have 75% of the youth force, we need to create 20 lakh jobs per year, whereas we are currently creating 10 lakh. We have plenty of investment opportunities in the manufacturing sector, which can boost our economy," he opined. He presented the Vanijya Ratna Awards-2025 to Jayanth Ashok Humbarawadi of Belagavi, Prakash S Bafna and G Devaki Yogananda of Hubballi, Siddanna Nalwad of Koppal, Sharanabasappa Gudimani of Gadag, and Ravindrakumar Beknal of Kalaburagi. Get the latest lifestyle updates on Times of India, along with Friendship Day wishes , messages and quotes !
India.com
2 hours ago
- India.com
New labour laws in Saudi Arabia are big news for migrant workers as..., especially good for Indians due to...
New Delhi: The Saudi Arabian government has come up with new labour laws for workers. In this, workers have been given two months to resign, change jobs or leave the country. It has been reported on Saudi Arabia's Qiva platform that a grace period of 60 days has been made mandatory before declaring an employee 'absent from work' after the contract ends. This change in rules will directly affect foreign workers. Indians will be especially affected in this because a large part of the foreigners working in Saudi Arabia are Indian workers. In such a situation, it is important for Indians to know these rules. What do the new rules say? The Qiva platform of the Ministry of Human Resources and Social Development of Saudi Arabia now gives 60 days' grace before declaring an employee absent from work. This means that employers can no longer mark employees absent from work immediately after the contract expires. They will have to wait at least 60 days, provided the employee's residence permit remains valid. During this period, disconnected employees can re-contract with their current employer, move to a new employer or leave Saudi Arabia. Failure to take action within 60 days will automatically remove their name from the employer's records. From which date have the new rules been implemented? The Qiva labour platform has made these significant changes to employment-contract rules from July 31, 2025, the Saudi Gazette reported. It said the new rule gives employees time to legalise their status and employers time for due process. This helps stabilise changes in the labour market and reduces the risk of a sudden loss of legal residency. An employer can report an employee as absent only if the employee has no active contract and the iqama is valid for at least 60 days. During this time, a disconnected employee will have the option to re-contract with the same employer, move to another job through Qiva, or leave Saudi Arabia within a 60-day window. If no action is taken within this period, i.e. 60 days, the employee will be considered absent and removed from the employer's records. Information about this will be given to the Ministry of Human Resources and Home Affairs. Even after this, employees can access salary and service certificates to verify their previous or current roles.
Indian Express
3 hours ago
- Indian Express
PM Modi underlines ‘economic priorities', gives call for Swadeshi push after Trump's ‘dead economy' jibe
Days after US President Donald Trump labelled India a 'dead economy,' Prime Minister Narendra Modi on Saturday said that the country must remain alert to its 'own economic priorities' amid the instability and uncertainty facing the world economy. He urged Indians to stand firm on economic nationalism and self-reliance. Speaking at a public rally in Varanasi's Banauli village, Modi underscored that India is on track to become the world's third-largest economy amid growing international uncertainty. 'In such times, countries are focusing solely on their own interests. India, too, must remain alert to its own economic priorities,' Modi said, invoking a renewed push for Swadeshi. 'At a time when the world is going through uncertainty, let us take a pledge to sell only Swadeshi goods from our shops and markets. Promoting made in India goods will be the truest service to the country.' The remarks come days after Trump announced a 25 per cent import tariff on Indian goods, effective August 7, and warned of further penalties for India's ongoing purchase of Russian crude oil and military equipment. In a post on Truth Social, Trump said: 'They (Russia and India) can take their dead economies down together, for all I care.' After Trump's statement, India's response was measured. Commerce Minister Piyush Goyal told Parliament on Thursday that India remains the world's fastest-growing major economy and is widely expected to emerge as the third-largest globally in the near future. In his speech Saturday, Modi framed the global economic instability as a moment of opportunity for India. 'The feeling of Swadeshi in every action will define our future,' he said. 'This will also be a true tribute to Mahatma Gandhi. Only through collective effort can we fulfil the dream of a developed India.' He urged citizens to become conscious consumers and adopt the 'Vocal for Local' mantra. 'Whatever we buy, we should ask ourselves – has an Indian toiled to make this? If it has been made by the sweat of our people, with their skills, that product is Swadeshi for us.' The prime minister also called on all political parties to unite behind the goal of national economic advancement. 'If we want India to become the third-largest economy, every political party and every leader, keeping aside their hesitations, must work in the nation's interest and awaken the spirit of Swadeshi among the people,' he said.
