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  • Conflict over the clock: China among countries where time is political

    Conflict over the clock: China among countries where time is political

    When Nuria Shamsed* was a child, she would sit with her family in front of her grandparents’ house on the outskirts of the Western Chinese city of Kashgar in the Xinjiang region and watch the summer sun set at about midnight.

    Kashgar is not located particularly far north – it is approximately at the same latitude as the Turkish capital, Ankara, where sundown is several hours earlier.

    But the sun goes down late in the Kashgar night because the Chinese Communist Party decided that all of China must operate in the same time zone as Beijing.

    This means that clocks in Kashgar are about three hours ahead of the time that the city’s geographical location actually dictates.

    “The midnight sunsets with my family are among the fondest memories I have from my childhood in Xinjiang,” 26-year-old Shamsed told Al Jazeera, speaking from her new home in San Diego, California, the United States.

    “But at the same time, the phenomenon also shows how the Chinese authorities want to control everything in Xinjiang – even our time,” she said.

    Police officers patrol the square in front of Id Kah Mosque in Kashgar, Xinjiang Uighur Autonomous Region, China, in 2021 [File: Thomas Peter/Reuters]

    Time is political in China, says Yao-Yuan Yeh, who teaches Chinese history and politics at the University of St Thomas in Houston, the US, and is used to instil a sense of interconnection and control.

    “It is used to reinforce the official narrative of a Chinese nation united under the rule of the Communist Party,” Yeh explained.

    Time zones are constructs that are constantly being renegotiated, and in few places has this been more true than in China and elsewhere in Asia.

    State control through time

    For as long as 56-year-old Payzulla Zaydun can remember, time has been a point of contention between the Uighurs in Xinjiang and the authorities in Beijing.

    Xinjiang’s provincial capital, Urumqi, is geographically two hours behind Beijing, and Zaydun recounts that when he attended university in Urumqi in the 1980s and 1990s, some of his fellow Uighur students deliberately arrived two hours late for class if classes were only listed in Beijing time.

    “They believed that Xinjiang time should be used in Xinjiang, and there was a sense that as an Uighur there was a responsibility to uphold the local time,” Zaydun told Al Jazeera from Maryland in the US.

    Therefore, many local shops and businesses in Urumqi also opened and closed following a two-hour time difference in adherence to the local time over Beijing time.

    However, that is not the case any longer.

    Upholding the local time in Xinjiang is much more difficult today, Zaydun says.

    “If you openly challenge the Beijing time now, you can be prosecuted for subversion,” he says.

    “My elderly mother never used Beijing time before, but then a few years ago she suddenly started using Beijing time when we talked on the phone because she feared the consequences if she didn’t.”

    Canadian-Uighur activist Rukiye Turdush says enforcing the use of Beijing time in Xinjiang is just one of many ways the Chinese authorities are trying to dilute the Uighur identity, alongside means such as social control, large-scale surveillance and mass detentions.

    “Language, religion, culture, space and time are all elements of the Uighur national identity that the Chinese are trying to tear apart in Xinjiang,” Turdush says.

    Other minorities in China are also experiencing that the keeping of time is the strict preserve of China’s central authorities.

    “For other minorities in China’s outer regions such as the Tibetans and the Mongolians time is also controlled from Beijing,” says Yeh of the University of St Thomas.

    Although there are practical and economic advantages to a single time zone, the impetus for standardisation was more about a signal the Chinese Communist Party wanted to send when it came to power in 1949.

    “The Chinese state did not exercise full control over China before 1949, but the Communists sought to change that in order to consolidate and legitimise their power in China,” Yeh explains.

    In pursuing that mission, controlling time became part of an official narrative about a China united under the party’s rule, which spurred the creation of a single time zone that temporally aligned the entire country with Beijing.

    Under President Xi Jinping, who came to power in 2012, there has been a renewed focus on assimilating China’s minorities into the dominant Chinese culture promoted by the Communist Party.

    “Due to that, the authorities have taken a tougher stance against any kind of separatist notions among the minority groups, including any ideas about belonging to a separate time zone,” Yeh says.

    Time is sovereignty

    China is not the only place where time is shaped more by politics than by geography.

    One look at the jigsaw puzzle that constitutes the world’s distribution of time zones clearly indicates this and recent events in Ukraine are a case in point.

    In January, Russian authorities announced that annexed regions of Ukraine were to switch from Ukrainian time to Moscow time.

    A wall clock with a picture of Russian President Vladimir Putin is seen in this photo illustration taken in a hotel room in Kazan, Russia, July 31, 2015. He may be in charge of an economy in crisis, but if mobile phone covers and souvenir mugs are a barometer of popularity, Russian President Vladimir Putin need not fear for his political future. In fact, Moscow’s annexation of Crimea from Ukraine last year has given the memorabilia makers even more material to glorify, sometimes wryly, a president whose image as a champion of Russian national interests in a hostile world is barely challenged in his own country. REUTERS/Stefan Wermuth TPX IMAGES OF THE DAYTHE IMAGES SHOULD ONLY BE USED TOGETHER WITH THE STORY - NO STAND-ALONE USES. PICTURE 12 OF 17 FOR WIDER IMAGE STORY "FROM RUSSIA WITH LOVE"SEARCH "WERMUTH PUTIN" FOR ALL PICTURES TPX IMAGES OF THE DAY
    A wall clock with a picture of Russian President Vladimir Putin is seen in this photo illustration taken in a hotel room in Kazan, Russia, in 2015 [File: Stefan Wermuth/Reuters]

    In March, Greenland also moved one hour closer to Europe.

    Time can also be used by minorities to fight back against state power.

    During the 25-year-long civil war in Sri Lanka between the central government and the Tamil Tigers, the government introduced a time change that set the country’s clock back half an hour. However, the Tamil Tigers refused to recognise and implement the change in 1996 in the areas of the island under their control, meaning Sri Lanka effectively existed in two different time zones simultaneously.

    Just as time is used politically within the borders of nations, it is also used politically between the borders of nations.

    In 2015, the North Korean government announced that the country would change its time zone by setting clocks back half an hour.

    The shift was defended as a belated reckoning with Japanese imperialists that had deprived Korea historically of its time – a reference to the early 20th century when the Japanese, as Korea’s then-colonial rulers, brought the country into the same time zone as the Empire of Japan.

    An unidentified man adjusts his wristwatch in front of a clock tower of the Pyongyang Station in Pyongyang, North Korea, in this photo taken by Kyodo early May 5, 2018. Mandatory credit Kyodo/via REUTERS ATTENTION EDITORS - THIS IMAGE WAS PROVIDED BY A THIRD PARTY. MANDATORY CREDIT. JAPAN OUT.
    A man adjusts his wristwatch in front of a clock tower in Pyongyang, North Korea, in this photo taken by Kyodo in 2018 [File: Kyodo via Reuters]

    In fact, the establishment of modern timekeeping traces its roots back to the colonial era and it was the world’s colonial powers that confirmed the global time zone system during a conference in the US in 1884, according to Karl Benediktsson, who has studied the connection between politics and time zones at the University of Iceland.

    According to Benediktsson, it is revealing that the modern time zone system is based around the so-called Greenwich meridian, or the prime meridian, which runs through Greenwich in London.

    “The prime meridian could technically have been placed anywhere, but it was centred around London because Great Britain was the leading power at the time,” Benediktsson says.

    While the time zone system established by Britain and the other colonial powers in the 19th century remains largely the same as the system still in use today, the division of the world within time zones has changed frequently since the dismantling of Europe’s colonial empires.

    And the repositioning of postcolonial states on the world map has also led to some new and novel time zones.

    A general view of Rajabai Clock Tower is seen in Mumbai, India, September 1, 2016. REUTERS/Danish Siddiqui
    The Rajabai Clock Tower in Mumbai, India [File: Danish Siddiqui/Reuters]

    For example, when India gained independence from Britain in 1947, it abolished Mumbai time and Kolkata time and established Indian time as the country’s only official time.

    Nepal has aligned its own time zone with the peak of the sacred Gaurishankar Mountain, located east of Kathmandu, which places the country within a quarter-hour time zone unlike most other states that position their time keeping within a certain hourly time zone or more rarely within a half-hour time zone.

    Time zones are constructed

    The jigsaw puzzle that makes up the map of time zones across borders and around the world reflects the many political considerations and histories at play in the creation of clock time.

    Shifting geopolitical circumstances also means that the world’s time zone puzzle will likely continue to change into the future, according to the University of Iceland’s Benediktsson.

    “I usually say that time zones are social constructions,” says Benediktsson, noting that the placement of countries within certain time zones was determined by people and can therefore be changed by people over and over again.

    Workers are pictured beneath clocks displaying time zones in various parts of the world at an outsourcing centre in Bangalore, February 29, 2012. India's IT industry, with Bangalore firms forming the largest component, is now worth an annual $100 billion and growing 14 percent per year, one of the few bright spots in an economy blighted by policy stagnation and political instability. Picture taken on February 29, 2012. To match Insight INDIA-OUTSOURCING/ REUTERS/Vivek Prakash (INDIA - Tags: BUSINESS EMPLOYMENT SCIENCE TECHNOLOGY)
    Workers are pictured beneath clocks displaying time zones in various parts of the world at an outsourcing centre in Bengaluru [File: Vivek Prakash/Reuters]

    Reflecting back on her youth and observing the sun set at midnight during summer time in her native Kashgar, Nuria Shamsed believes that the enduring difference between local time and Beijing’s official time in Xinjiang demonstrates the power of people over timekeeping.

    Attempts to deny the observance of local time is another tool to deprive Uighurs of their identity, Shamsed says.

    “Time should not be a tool used by authoritarians to pursue their imperialist ambitions,” she says.

    “I also consider it a human rights violation when Uighurs in Xinjiang do not have a say in what time defines their lives.”

    *Nuria Shamsed is a pseudonym created to respect the source’s request for anonymity due to the sensitivity of the topic.

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  • Indian automaker Mahindra says competition from Tesla ‘does not faze us’

    Indian automaker Mahindra says competition from Tesla ‘does not faze us’

    Mahindra atom electric car at Auto Expo 2020, on February 5, 2020, in Greater Noida, India.

    Pradeep Gaur | Mint | Hindustan Times | Getty Images

    Mahindra Group isn’t worried about global players like Tesla entering India’s highly competitive electric vehicle market, its CEO and managing director Anish Shah told CNBC.

    “We’ve seen tremendous competition in India over the last 20 years. So Tesla or anyone else coming in does not faze us,” Shah said on “Street Signs Asia” Tuesday. 

    “At one point, Mahindra was written off when all the global majors were coming into India. Today, we continue to have the number one market share in SUVs from a revenue standpoint,” he added.

    Tesla is reportedly discussing plans to enter the EV space in India, which is the world’s third-largest auto market, according to Reuters.  

    CEO Elon Musk met Prime Minister Narendra Modi in June and said he has plans to “make significant investments in India.”

    Despite the global competition, Mahindra has “not just survived but thrived” in the Indian market, said Shah.

    “We have close to a 50% market share in the light commercial vehicle segment. We continue to have 40% plus market share in farm equipment and tractors,” the CEO said, adding the company expects to perform well in the coming years.

    Last week, Mahindra raised $145 million from Singapore’s state-owned investor Temasek for its electric vehicle unit at a valuation of up to 805.8 billion Indian rupees ($9.8 billion), in the latest fundraising by the Indian automaker. Temasek will take up to 3% stake in the EV unit Mahindra Electric Automobile Limited.

    The company said it expects EVs to make up between 20% and 30% of its total SUV sales by 2027.

    Market potential

    Read more about electric vehicles, batteries and chips from CNBC Pro

    Given current global supply chain disruptions and the government’s policy of making India self reliant, the report added, “It is important that India creates its own indigenous solutions and a supporting domestic value chain.”

    Shah highlighted that “supply chain obviously is an important part” for India’s EV market.

    “We do have a research center in India that develops a fair bit of technology as well,” he said. “But the auto industry technology is global. To that extent, there is a dependence similarly with semiconductors. And we’ve seen some of the challenges in that in the last couple of years.”

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  • Can India’s opposition win against the BJP?

    Can India’s opposition win against the BJP?

    India’s opposition leader Rahul Gandhi is returning to politics after a conviction was overturned.

    It’s a case some see as an example of political persecution.

    India’s opposition leader Rahul Gandhi was sentenced to jail after being convicted of defaming Prime Minister Narendra Modi in March.

    Now the Supreme Court has suspended his conviction. That could pave the way for the Congress party chief to make a political comeback.

    But this case is prompting questions about India’s judicial system, and the state of its democracy.

    So how will this affect the chances of the government and opposition in next year’s elections?

    Presenter: Sami Zeidan

    Guests:

    Shazia Ilmi – Spokeswoman for governing Bharatiya Janata Party

    Saba Naqvi – Visiting professor at Jindal School of Journalism and Communication

    Supriya Shrinate – Spokeswoman for opposition Indian National Congress Party

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  • Taj Mahal Fast Facts | CNN

    Taj Mahal Fast Facts | CNN



    CNN
     — 

    Here’s a look at the Taj Mahal, India’s most popular tourist attraction. The monument is located on the banks of the Yamuna River in Agra, India.

    The Taj Mahal was built in the 17th century by Mughal Emperor Shah Jahan to honor his third wife, Mumtaz Mahal, who died in childbirth.

    “Taj Mahal” means “crown of palaces” in Urdu and Persian.

    In fiscal year 2021-2022, more than 3 million people visited the Taj Mahal, according to statistics from the Indian Ministry of Tourism.

    The site is maintained by the Archaeological Survey of India, which has organized multi-year cleaning projects to restore discolored areas on the Taj Mahal’s facade caused by air pollution and excretions from insects coming from the adjacent Yamuna River.

    The most recognizable feature of the Taj Mahal is the large, white, domed mausoleum, which is surrounded by four tall minarets on each corner. The exterior is made of white marble.

    The main building contains two cenotaphs memorializing Shah Jahan and Mumtaz Mahal. A cenotaph is a Greek word that means “empty tomb.” The couple is actually interred in sarcophagi underneath.

    The cenotaphs and the screen surrounding them are covered in intricately designed mosaics made of semi-precious stones.

    On either side of the Taj Mahal are two buildings made of red sandstone: a mosque and an assembly hall.

    The grounds also include gardens and a long reflecting pool.

    1628 – Shah Jahan becomes emperor as part of the Mughal dynasty, ruling northern India.

    1631 – His wife, Mumtaz Mahal, dies during childbirth.

    1632 – Construction of the Taj Mahal begins. It is estimated that 20,000 workers helped build the structure.

    1648 – The main mausoleum of the Taj Mahal is completed.

    1653 – Additional features, including a mosque, guest house and courtyard are completed.

    1666 – Shah Jahan dies and his remains are interred next to Mumtaz Mahal beneath the Taj Mahal complex.

    1861 – The Archaeological Survey of India (ASI) is founded in order to help preserve and restore Indian monuments and historical sites.

    1899-1905 – Britain’s Lord Curzon serves as the Viceroy of India. During his tenure, he orders the restoration of certain historic places, including the Taj Mahal.

    1983 – UNESCO designates the Taj Mahal as a World Heritage site.

    July 7, 2007 – The Taj Mahal is named one of the “New Seven Wonders of the World.” as part of an online marketing campaign.

    April 1, 2018 – A three-hour limit for Taj Mahal visitors is implemented.

    May 9, 2018 – India’s Supreme Court orders the ASI to do a better job with its restoration plan, as discoloration and stains on the Taj Mahal’s exterior have not been resolved as promised.

    March 17, 2020 – The ASI orders all monuments and museums to close due to the threat of coronavirus, including the Taj Mahal.

    June 14, 2021 – The ASI issues a statement that the monuments and museums closed due to the coronavirus pandemic will reopen June 16, with protective guidelines in place.

    Pollution is damaging iconic Taj Mahal

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  • Deadly communal violence flares in India a month before world leader summit | CNN

    Deadly communal violence flares in India a month before world leader summit | CNN


    Gurugram and New Delhi
    CNN
     — 

    Separate outbreaks of violence this week, including the alleged shooting of three Muslim men by a police officer on a train, have exposed the deep communal fissures in India weeks before it welcomes Group of 20 (G20) leaders to the capital.

    Violence erupted in the northern state of Harayana state on Monday after a right-wing Hindu organization led a religious procession in the city of Nuh.

    Clashes spread to several districts of the finance and tech hub, Gurugram, also known as Gurgaon, home to more than 1.5 million people and hundreds of global firms, where violent mobs predominantly targeted Muslim-owned properties, setting buildings ablaze and smashing shops and restaurants.

    At least six people died, including a cleric who was inside a mosque that was set alight, and more than 110 people have been arrested, authorities said.

    Gurugram’s district counselor urged residents to remain home and ordered the closure of some private education institutes and government offices.

    As the violence unfolded, about 1,300 kilometers (807 miles) south in Maharashtra on a train traveling to Mumbai, another deadly attack demonstrated the depth of the country’s sectarian divide.

    Haryana Police conduct checks near Nuh Chowk on August 1, 2023 in Gurugram, India.

    A police officer opened fire on a moving train, killing four people, including a senior constable and three Muslim passengers, according to local reports and some family members CNN has spoken with.

    In a video that has emerged of the aftermath and quickly gone viral, the officer can be seen standing over a lifeless body, rifle in arm, as terrified travelers huddle at the end the coach.

    The officer glances at the body, then scans the carriage before saying: “If you want to vote, if you want to live in Hindustan (India), then there’s only (Narendra) Modi and Yogi (Adityanath).”

    Referencing the country’s leader, and the Hindu monk turned chief minister of India’s most populous state, he appeared to be advocating for their popular, but deeply divisive policies.

    One of the victims, Asgar Ali, was a bangle seller on his way to take a new job in Mumbai when the fatal attack took place, his cousin Mohammed told CNN, adding that Ali is survived by a wife and four children.

    “We haven’t heard a lot from the authorities,” he added. “But I believe this happened because we are Muslim.”

    Police have arrested the officer and a motive is yet to be determined, authorities have said. However, opposition politicians and activists have called the attack a “hate crime” that targeted India’s Muslim minority population.

    Police haven’t released the names of the passengers. CNN has contacted the Maharashtra police but is yet to receive a response.

    Asaduddin Owaisi, a member of parliament and leader of the All India Majlis-e-Ittehad-ul-Muslimeen political party called it a “terror attack that specifically targeted Muslims.”

    Another lawmaker and member of India’s main opposition Congress party, Jairam Ramesh, said it was a “cold-blooded murder” that was the result of a polarized media and political landscape.

    The image of India that Modi and his Bharatiya Janata Party (BJP) want to project is one of a confident, vibrant, and modern superpower – and it will be one they want on display in India when G20 leaders meet in New Delhi next month.

    But analysts say these scenes of violence underscore an uncomfortable reality as the BJP’s Hindu nationalist policies gain momentum in the world’s largest democracy after nearly a decade of Modi’s rule.

    On Wednesday, hundreds of members from the Hindu extremist right-wing Bajrang Dal group took to the streets in several cities, including Delhi, burning effigies and chanting slogans against Muslims in protest against what they called “Islamic jihad and terrorism.”

    Asim Ali, a political researcher based in New Delhi and no relation to Asgar Ali, said that official silence over sectarian assaults and rhetoric is encouraging for the radical groups and such attacks have become “more brazen” since BJP ascended to power nearly a decade ago.

    “When you don’t take action against these elements, the message that gets sent is that it’s okay,” he told CNN. “If the government spoke (against it), it would help.”

    Ethnic violence has been raging in the northeastern state of Manipur for the last two months, a topic that has received little public comment from Modi.

    Ali fears sectarian tensions may only worsen next year as India heads into a bitterly fought election with Modi seeking a third term and an opposition building a coalition to unseat him.

    The latest communal violence come against a broader rise in hate crimes against minority groups.

    A study by economist Deepankar Basu noted a 786% increase in hate crimes against all minorities between 2014 and 2018, following the BJP’s election victory.

    The BJP, however, says it does not discriminate against minorities and “treats all its citizens with equality.”

    But Basu’s study shows – and news reports indicate – the brunt of these hate crimes targeted Muslims. And activists point to a host of recent incidents that they say contribute to India’s sharp communal divide.

    Last month, the BJP chief minister of the state of Assam, Himanta Biswa Sarma, blamed Muslims for the soaring prices of tomatoes. His accusation came weeks after he lashed out at former US President Barack Obama, saying Indian police should “take care of” the many “Hussain Obama” in the country, referring to the country’s Muslims.

    Former US President Obama is not a Muslim.

    Meanwhile Adityanath, the chief minister of Uttar Pradesh who was referenced by the police officer allegedly involved in the train shooting, is among the most divisive of the BJP politicians.

    Since he took office, the state has already passed legislation that, critics say, is rooted in “Hindutva” – the ideological bedrock of Hindu nationalism.

    It has protected cows, an animal considered sacred to Hindus, from slaughter, and made it increasingly difficult to transport cattle. It also introduced a controversial anti-conversion bill, which makes it difficult for interfaith couples to marry or for people to convert to Islam or Christianity. Some cities named after historic Muslim figures have also been renamed to reflect India’s Hindu history.

    Adityanath is also known for his provocative rhetoric against Muslims.

    He once praised former US President Donald Trump’s travel ban barring citizens of several Muslim-majority countries and called for India to take similar measures, according to local channel NDTV.

    India has one of the largest Muslim populations in the world with an estimated 170 million adherents, roughly 15 percent of its 1.4 billion population.

    Adityanath’s cabinet members have previously denied allegations they are promoting Hindu nationalism.

    But prominent Muslim author and journalist, Rana Ayyub, who has written extensively about India’s sectarian shift, says the current political rhetoric “emboldens” radical right wing groups who feel increasingly protected and untouchable in today’s India.

    “It feels like an Orwellian novel playing out in front of you,” she said, adding she fears for the safety of her Muslim friends and family. “I think the silence of the country is a tacit approval for these hate politics.”

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  • Foreign buyers are bailing on the U.S. housing market. Here’s why

    Foreign buyers are bailing on the U.S. housing market. Here’s why

    International buyers are pulling back from the U.S. housing market, as high mortgage rates, soaring home prices, a meager supply of homes for sale and a strong dollar all make the purchases much less financially attractive.  

    From April of last year to this March, international buyers bought roughly 84,600 homes; that’s the lowest number since the National Association of Realtors began tracking such purchases in 2009 and a 14% drop from the year before.

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    And while overseas buyers bought fewer homes, they paid more for them. The median price of homes they purchased was $396,400, the highest the Realtors ever recorded.

    China, Mexico, Canada, India and Colombia were the top five countries of origin for international buyers of existing homes by number of houses, not dollar volume. The survey does not count new construction, where international buyers are also active. 

    Chinese buyers had the highest average purchase price, at $1.23 million, likely because a third of them bought in California, where home prices are highest. In total, 15% of foreign buyers bought homes worth more than $1 million.

    “Home purchases from Chinese buyers increased after China relaxed the world’s strictest pandemic lockdown policy, while buyers from India were helped by the country’s strong GDP growth,” said Lawrence Yun, NAR’s chief economist, in a press release. “A stronger Mexican peso against the U.S. dollar likely contributed to the rise in sales from Mexican buyers.”

    While foreign sales dropped overall, Chinese purchases did make sizable gains. The total of 2023 Chinese home purchases is the highest since 2018, which was one of the peak years for Chinese international property purchasing, according to Juwai IQI, an Asia-based international real estate technology group.

    “Only about one in every 10 Chinese buyers is purchasing purely as an investment, which is a big change from the mid-2010s, when wealthy Chinese consumers looked to diversify their wealth out of China,” said Kashif Ansari, Juwai IQI co-founder and group CEO. “In 2023, the typical Chinese buyer is no longer an offshore investor but is on their way towards becoming an American resident and citizen.”

    Foreign buyers continue to flock to the same places as they have in the past, namely Florida (23%), California (12%), Texas (12%), North Carolina (4%), Arizona (4%) and Illinois (4%). Chinese buyers in particular like California, as they often buy so that their children can attend local schools and universities.  

    “Florida, Texas and Arizona continue to attract foreign buyers despite the hot weather conditions during the summer and the significant spike in home prices that began a few years ago,” Yun added.

    About 42% of foreign buyers used cash. As for why they are buying, half purchased the properties for use as a vacation home, rental property or both, up from 44% the previous year.

    The drop in overall foreign purchases is unlikely to ease the competition for domestic buyers, as international buyers only made up a little more than 2% of all buyers. But it could help on the margins in certain local markets favored most by foreign buyers.

    Today’s domestic buyers, however, are more concerned with mortgage rates, which are more than twice what they were in the first two years of the pandemic, and with the meager supply of homes for sale.

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  • India restricts laptop, PC imports to boost local manufacturing | CNN Business

    India restricts laptop, PC imports to boost local manufacturing | CNN Business



    CNN
     — 

    India has placed restrictions on the import of computers and laptops in a surprise move from the government of Prime Minister Narendra Modi which has been trying to encourage domestic manufacturing in the tech sector.

    Importers will now need to apply for licenses in order to bring laptops, tablets, personal computers and other electronic devices into the country, according to a notice issued by the Ministry of Commerce and Industry on Thursday. Previously, the import of such items was unrestricted.

    The ministry didn’t provide a reason for the change in rules, however Modi has aggressively pushed his “Make in India” campaign, which promotes local manufacturing in a bid to create more jobs. It follows a similar curb on smart TV imports in 2020.

    India’s electronic imports stood at $19.7 billion in the April to June period, up 6.25% from the same period in 2022, according to Reuters.

    CNN has contacted Apple

    (AAPL)
    and Samsung

    (SSNLF)
    , top laptop sellers in the South Asian country, for comment but has not yet received responses.

    India’s push to manufacture domestically comes at a crucial time for the world’s most populous nation, as companies look beyond China to secure crucial supply chains.

    India’s working-age population is expected to hit one billion over the next decade, according to the Organisation for Economic Co-operation and Development. Its large and young labor force makes the country a big draw for global companies seeking alternative manufacturing hubs to China.

    Earlier this year, India’s commerce minister, Piyush Goyal, said Apple was already making between 5% and 7% of its products in India.

    “If I am not mistaken, they are targeting to go up to 25% of their manufacturing,” he said at an event in January.

    In June, US chipmaker Micron

    (MICR)
    announced a new factory in the western state of Gujarat, calling it the country’s first semiconductor assembly and test manufacturing facility.

    The venture will see Micron invest up to $825 million and create “up to 5,000 new direct Micron jobs and 15,000 community jobs over the next several years,” according to the company.

    Foxconn, the world’s largest contract electronics maker and a key supplier to Apple, is also looking to expand its manufacturing operations in India.

    Last month, it abruptly announced it was exiting an ambitious $19.4 billion joint venture with Vedanta

    (VEDL)
    , an Indian metals and energy conglomerate, to help build one of the country’s first chip factories.

    But, the company said it was still committed to investing in Indian chipmaking and was applying to a government program that subsidizes the cost of setting up semiconductor or electronic display production facilities in the country.

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  • India arrests Chinese smartphone executive in fraud probe | CNN Business

    India arrests Chinese smartphone executive in fraud probe | CNN Business


    New Delhi/Hong Kong
    CNN
     — 

    An executive at Vivo, one of China’s top smartphone makers, has been arrested in India in connection with a money laundering probe, raising fears of a renewed crackdown on Chinese businesses in the country.

    Guangwen Kuang, the head of administration at Vivo India, was taken into custody on Tuesday by India’s Enforcement Directorate (ED), his lawyer, Mudit Jain, told CNN. The ED is the country’s main financial crimes investigation agency, responsible for probing money laundering and violations of foreign exchange laws.

    Kuang, a Chinese national, was arrested alongside three other people and would be held in custody for three days, according to a court document shared with CNN by Jain.

    One of the other detainees was a person who had helped Vivo set up its offices in India, and the other two were accountants, according to the document.

    In a statement to CNN, a Vivo spokesperson confirmed that one employee had been arrested and vowed that the company would “exercise all available legal options.”

    “The recent arrest deeply concerns us,” the representative said. “Vivo firmly adheres to its ethical principles and remains dedicated to legal compliance.”

    Allegations of money laundering against Vivo were first made in July 2022, when the ED said it had carried out searches at 48 Vivo locations in the country and seized $60 million from the company’s bank accounts.

    The agency accused Vivo of tax fraud and said the firm had remitted 624.8 billion rupees ($7.9 billion), mostly to China.

    “These remittances were made in order to disclose huge losses in Indian incorporated companies to avoid payment of taxes in India,” the ED said at the time.

    The company said at the time that it was cooperating with the investigation.

    The raids came two months after India seized more than $700 million from another big Chinese smartphone maker, Xiaomi, which was also accused of moving money out of the country illegally.

    Xiaomi denied wrongdoing, saying all its operations were “firmly compliant with local laws and regulations.”

    Xiaomi and Vivo are hugely popular with Indian consumers, both ranking in the top three of the country’s vast smartphone market behind Samsung.

    Despite the regulatory crackdown, Vivo is still India’s second biggest smartphone brand, commanding 17% of the market in the second quarter, according to Counterpoint Research.

    Xiaomi, meanwhile, has seen its market share slip from 19% to 15% in the same period.

    Relations between China and India soured significantly after a deadly clash at their shared contested border in 2020. Authorities in India later banned Chinese apps and subjected deals with Chinese firms to greater scrutiny.

    Since then, tensions between India and China have continued to simmer.

    Vivo’s troubles this week prompted a swift reaction in Chinese media. State-run tabloid Global Times accused India of “rising protectionism.”

    The executive’s detainment appears to signal a “hardened crackdown on Chinese companies,” the outlet said in a report Wednesday.

    China’s embassy in India has previously warned that the probes of Chinese firms in India risked damaging its reputation among foreign investors and have disrupted “normal business activities.”

    — Vedika Sud contributed to this report.

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  • Workers crushed to death as crane collapses at India road construction site

    Workers crushed to death as crane collapses at India road construction site

    The accident in the Thane region of Maharashtra state killed five engineers and 12 labourers.

    At least 17 workers have been crushed to death in western India when a giant crane collapsed at a highway construction site, according to police.

    The accident took place on the Samruddhi Expressway in the Thane region of Maharashtra state early on Tuesday.

    A crane used to lift and place girders collapsed, killing people working at the site where an overbridge was being built, an official at the Thane police control room said. Five of the people killed were engineers, while the rest were labourers.

    Teams of rescue workers from the National Disaster Response Force, the fire department and police rushed to the site, using cranes to remove debris and rescue trapped people.

    Three injured people were being treated in hospital, the Indian Express newspaper reported.

    India’s Prime Minister Narendra Modi expressed his condolences in a message on the social media platform X, formerly known as Twitter.

    “Pained by the tragic mishap in Shahapur, Maharashtra,” the prime minister’s office said in a post. “My deepest condolences to the families of those who lost their lives.”

    The government said it would provide relief assistance of 200,000 rupees ($2,432) for the families of the dead and 50,000 rupees ($608) for the injured.

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  • CNBC Daily Open: Oil joined the July stocks rally

    CNBC Daily Open: Oil joined the July stocks rally

    Pumpjack near school buses, Arvin, Kern County, California, USA.

    Citizens Of The Planet | Universal Images Group | Getty Images

    This report is from today’s CNBC Daily Open, our new, international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Like what you see? You can subscribe here.

    What you need to know today

    Digesting data
    U.S. markets
    traded higher Monday as all three major indexes edged up. Asia-Pacific markets were mostly higher Tuesday. Hong Kong’s Hang Seng Index was near flat as advance estimates showed the city’s second-quarter gross domestic product contracting 1.3% quarter on quarter. Meanwhile, Australia’s S&P/ASX 200 rose around 0.7% as the central bank kept interest rates unchanged at 4.1% for the second straight month.

    Intrigue in India
    Investors are growing interested in India as the country’s economy expands and stock market rallies — even amid high inflation. “Whatever the world is grappling with, it’s business as usual for India,” said Feroze Azeez, deputy CEO of Anand Rathi Wealth. Here are four sectors analysts think are the most appealing for investors.

    HSBC’s humongous profit
    HSBC reported second-quarter earnings that easily beat analysts’ expectations. Pre-tax profit of the largest bank in U.K. jumped 89% year-on-year to $8.77 billion, while revenue surged 38% to $16.71 billion. In light of those sterling results, HSBC’s board announced they’re planning to initiate a share buyback of up to $2 billion.

    New filing against JPMorgan Chase
    JPMorgan Chase handled more than $1.1 million in payments from Jeffrey Epstein to “girls or women” even after the bank says it removed the sex offender as a client in 2013, a lawyer for the U.S. Virgin Islands told a judge Monday. The Virgin Islands alleges that JPMorgan facilitated and financially benefited from Epstein’s sex trafficking of young women.

    [PRO] Benefiting from bankruptcies
    Corporate insolvencies in the U.K. have been rising in recent months. While it’s bad news, obviously, for those bankrupt firms, two global stocks stand to gain from the trend — analysts expect one of them to pop 31% over the next 12 months.

    The bottom line

    A soft landing — where inflation cools while the U.S. economy, labor market and corporate earnings continue growing — is, of course, good news for markets.

    Traders think that scenario is looking increasingly likely. Stocks inched up Monday. The S&P 500 added 0.15%, the Dow Jones Industrial Average rose 0.28% and the Nasdaq Composite advanced 0.21%.

    That gave all indexes a rosy July. For the month, the S&P climbed 3.1%, its fifth consecutive month of gains. The Dow jumped 3.4% after experiencing a 13-day rally, its longest since 1987. The Nasdaq Composite popped 4.1%, its first five-month streak in more than two years.

    The optimism extended to the commodities market. The promise of higher economic activity, after all, raises demand for the raw input needed to keep the world moving, literally.

    Oil prices had their best month since January 2022, when both Brent crude and West Texas Intermediate crude added more than 17.2%. As of publication time, October Brent futures were trading at $85.19 per barrel and the September WTI contract at $81.6 per barrel.

    Metal prices are climbing as well. Prices for aluminum and zinc rose 2.7%. Copper — typically seen as an indicator of economic activity because it’s used in most parts of the economy — is at its highest since May 1, putting it on track to have its best month since January.

    Rocketing stock prices might not necessarily, or directly, have effects on the cost of eggs in grocery stores, for example. But a hot commodities market nudges up prices in the real world.

    That’s the difficult balancing act the Federal Reserve has to contend with: As a soft-landing scenario becomes more plausible, renewed economic activity might, ironically, make inflation harder to suppress.

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  • India is said to be an ‘oasis’ in the desert. Here are some sectors to watch for

    India is said to be an ‘oasis’ in the desert. Here are some sectors to watch for

    India is poised to become the world’s second-largest economy by 2075, according to Goldman Sachs.

    Darren Robb | The Image Bank | Getty Images

    India’s strong growth prospects and recent stock market boom has piqued investor interest, drawing attention and increasing exposure to a once ignored market.

    “India’s growth story is greater than the average … Whatever the world is grappling with, it’s business as usual for India,” said Feroze Azeez, deputy CEO of Anand Rathi Wealth.

    Major economies were hit by higher inflation during the Covid-19 pandemic, but India’s inflation was already elevated. The country’s inflation rate stood at 7.59% in January 2020, while that of other large economies like the United Kingdom and Japan were low, at 1.8% and 0.8% respectively in the same month.

    Azeez said high inflation is a situation that India is used to and it has “always traveled the path of higher inflation and higher interest rates.”

    In June, India’s inflation rate was 4.81%, which remains within the Reserve Bank of India’s tolerance band of 2% to 6%. The central bank has left interest rates unchanged at 6.5% since April.

    “All the macro variables are stacking and we are in the growth cycle … There is a paradigm shift and flight of capital from Indian households savings to equity to contribute to the India growth story,” Azeez told CNBC’s “Squawk Box Asia” last week.

    The International Monetary Fund recently raised its 2023 growth forecast for India, citing stronger growth in the fourth-quarter last year, powered by domestic investment.

    Both the Sensex and Nifty hit all-time highs in July and analysts are confident the indexes will bring positive returns for years to come.

    “Many people have said in the past that India is the place to invest in, but they have been disappointed because [the momentum] will start and it’ll suddenly die out,” said Soumya Rajan, CEO and founder of Mumbai-based Waterfield Advisors.

    But recently there has been a “confluence of positive flows” from both domestic retail and foreign institutional investors due to an “amazing allocation towards equity investments,” Peeyush Mittal, portfolio manager at Matthews Asia, told CNBC. 

    More companies are also adopting a “China plus one” strategy and setting up manufacturing operations in India, boosting the country’s long-term outlook, Nilesh Shah, managing director at Kotak Mahindra Asset Management said.

    “There is a combination of positive sentiments, higher flows, and backing from the fundamentals which is causing the Indian market to move higher … Overall investments in India are on revival mode,” said Shah.

    “So whichever way one looks at the economic numbers, India appears as an oasis in the global desert,” he added.

    Although India’s monsoon season and general elections in 2024 could create volatility in the coming months, analysts remain optimistic and recommended four sectors.

    Sectors to watch

    1. Financials

    India’s financial industry has done well recently, Rajan said, adding the sector is the biggest contributor to the country’s capital markets.

    “The corporate balance on banks is the best it’s ever been,” Waterfield’s Rajan said. “We’ve had an outstanding run in what we’ve seen in the last few years and a lot will continue to happen in this space.” 

    Earlier this month, IDFC First Bank said its board had approved its merger with IDFC Ltd., which the company estimated would increase standalone book value by 4.9% compared with its financials as of March 31.

    This came days after India’s largest private lender HDFC Bank completed its $40 billion mega merger with Housing Development Finance Corporation, making it the world’s fourth largest bank by market cap. 

    Analysts said Indian banks also remained insulated from the Adani crisis. In February, short seller firm Hindenburg accused the conglomerate of decades of stock manipulation and accounting fraud.

    “The fact that they weren’t caught on the wrong side of that entire trade was, was good. So clearly, their underwriting standards are looking much better,” she highlighted.

    Matthews’ Mittal said India’s HDFC Bank and ICICI Bank are good buys and are set to continue taking market share from public sector banks. Shares of HDFC Bank have gained 1.4% so far this year, while ICICI Bank has jumped 11%. 

    Although Rajan was optimistic, she remains neutral on banks as the sector “had a really good run, so the exponential upside is not huge, but will be fair.” 

    Mittal also noted there are “decent” opportunities in non-banking financial names such as Bajaj Finance and Mahindra Finance

    Bajaj Finance has gained 11% since the start of 2023, while Mahindra Finance surged by 26% during the same time. 

    2. Fast-moving consumer goods

    Rajan and Mittal are both optimistic on fast-moving consumer goods and mentioned Nestle India as a sector pick. The sector was “beaten down quite a bit” during the pandemic, but has shown strong recovery and positive growth in the short term, Rajan said.

    Shares of Nestle India have climbed more than 15% since the beginning of the year, and both analyats expect they could continue to run further.

    According to the World Bank, about 68% of India’s population is of working age (15 to 64 years old), a positive demographic dynamic for consumer spending.

    “It’s as simple as consuming biscuits. If you extrapolate your biscuit consumption across a population of 1.4 billion, it’s still quite a lot,” Rajan said.

    Shoppers purchase groceries at the upscale LuLu Hypermarket located in the Lulu International Shopping Mall in Kerala, India, on May 25, 2022.

    Nurphoto | Nurphoto | Getty Images

    Rajan also noted that consumption is also rising in rural India, which stands to benefit companies like Hindustan Unilever and Britannia Industries.

    “These companies are now suddenly realizing their power as the aspiration of Indians grow and they move towards branded products,” she added.

    3. Manufacturing

    Global companies are moving their manufacturing lines to India as more of them begin to see it as Asia’s alternative to China.

    The country would hence highly prioritize ramping up its manufacturing capacity so it has the adequate infrastructure in place to be a leader in global supply chains, Kotak’s Shah pointed out.

    “The China plus one trend means that a lot of global outsourcing is shifting, and we believe Indian manufacturing companies will be able to participate in global supply chains. The sector will do well in the next couple of years,” said Shah said.

    An engineer works on a component at the Godrej Aerospace manufacturing plant, in Mumbai on July 10, 2023.

    Punit Paranjpe | Afp | Getty Images

    However, Rajan pointed out that India has a lot of catching up to do if it wants to match China’s manufacturing prowess.

    Even though companies say that they are adopting a “China plus one” strategy, “that plus one has not necessarily been India, it could be other South Asian and Southeast Asian countries,” as the country is still grappling with shortfalls in its infrastructure, she said.

    “The big play is of course around infrastructure and capital goods,” she added. “Whether it’s auto components or heavy engineering, these companies are expected to do well.” 

    4. Health care

    If investors were to bet on which sector in India will continue remaining strong in the next three to five years, pharmaceuticals will be a good pick, according to Shah. 

    “The world is aging and needs cheaper competitive medicine, and Indian companies fit well,” Shah said. “When the world is looking for competitive healthcare, Indians through their doctors, medicines, treatment or cost of delivery, will be able to do better.” 

    India could enjoy 'some very high growth years,' says analyst

    However, Matthew Asia’s Mittal said that instead of buying into pharmaceutical companies, upstream companies such as Syngene will be a good investment opportunity. Although such companies do not directly sell pharmaceutical products, they are involved in the research, development and manufacturing of them.

    Will investors return to China? 

    Investor sentiment in China remains weak as the country continues to miss growth expectations, and there are clearly industries and companies in India that have benefited from that, Rajan said. 

    She emphasized that even if China’s economy rebounds more robustly in the next nine to 12 months, investors will remain interested in India. Rajan noted that investors can also include exposure to both economies in their portfolios.

    Furthermore, Rajan noted domestic investors play a pivotal role in India’s stock market and that is “really what has kept markets more elevated.”

    “It’s not as if our companies are necessarily looking for foreign markets or exports to survive or thrive.”

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  • India’s accelerating growth can fill the global commodity demand gap left by a slowing China

    India’s accelerating growth can fill the global commodity demand gap left by a slowing China

    Rashtrapati Bhavan, the official residence of the President of India, in New Delhi.

    Kriangkrai Thitimakorn | Moment | Getty Images

    China’s growth slowdown is set to hurt global commodity demand, but India could make up for some of that shortfall, according to ANZ.

    India’s economic growth is likely to outpace China’s, with the South Asian nation set to become the third-largest economy by the end of this decade, the bank predicted.

    That means India’s demand for commodities will likely surge, and it could cover more than half of China’s demand shortfall especially in the energy sector, the bank said in a recent report.

    “India’s demand for commodities is slated to grow rapidly, supported by favorable demographics, urbanization, the expansion of manufacturing and exports and the build-up of infrastructure,” ANZ analysts wrote. 

    India has overtaken China to become the most populous country, and according to ANZ’s data, its rate of urbanization is expected to rise to 40% by 2030 from current levels of 35% — stoking demand for industrial metals and energy commodities which are often associated with a rise in demand for infrastructure and manufacturing.

    India will scale up its efforts to decarbonize by 2030, but those efforts may be frustrated by the nation’s rapidly growing energy needs…

    India’s annual demand for major commodities — like oil, coal, gas, copper, aluminum and steel — is expected to rise collectively by more than 5% from now till 2030, the bank estimated. 

    In comparison, China’s demand for these same commodities will slow to between 1% to 3%, accompanying a projected GDP slowdown to 3.5% growth by the end of this decade. China’s second-quarter GDP expanded 6.3% year-on-year, falling below market expectations for 7.3% growth.

    Most prominent pick-up?

    Stock picks and investing trends from CNBC Pro:

    The Indian government’s increasing emphasis on infrastructure development, energy transition and capex could also mean demand for steel and iron will pick up for the country.

    “Metals and bulks may see a strong rise in demand,” the report said.

    ANZ said the immense shortfall left by China for steel and aluminum demand may be tougher to fill.

    “For aluminum and steel, India’s pick-up of demand left unrealized in China may not be very substantial, simply because the scale of consumption of these items in the latter is very large,” ANZ highlighted.

    China consumes more than 50% of global industrial metals and steel production.

    While China will continue to retain its status as a behemoth in the commodity markets, India can still be a “significant influencer,” says ANZ.

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  • Why substituting cryptocurrency for gold exposure may be a costly mistake

    Why substituting cryptocurrency for gold exposure may be a costly mistake

    Viewing cryptocurrency as “digital gold” may be a mistake.

    State Street Global Advisors’ George Milling-Stanley, whose firm runs the world’s largest gold exchange-traded fund, believes cryptocurrency is no substitute for the real thing due its vulnerability to big losses.

    “Volatility does not back up any claims for crypto to be a long-term strategic asset as a competitor to gold,” the firm’s chief gold strategist told CNBC’s “ETF Edge” earlier this week.

    Milling-Stanley’s firm is behind SPDR Gold Shares, the world’s largest physically backed gold ETF. It has a total asset value of more than $57 billion as of last week, according to the company’s website. The ETF is up 7% year to date as of Friday’s market close.

    Milling-Stanley believes gold’s 6,000-year history as a monetary asset serves as a significant sample basis to understand the benefits of investing in gold.

    “Gold is a hedge against inflation. Gold’s a hedge against potential weakness in the equity market. Gold’s a hedge against potential weakness in the dollar,” he noted. “To me, historically, the promise of gold for investors has … overtime [helped] to enhance the returns of a properly balanced portfolio.”

    The precious metal is having trouble this year staying above the $2,000 an ounce mark. But Milling-Stanley believes the economic backdrop bodes well for gold — recession or not.

    “It’s pretty clear that we’re liable to be in a period of slow growth. … Historically, gold has always done well during periods of slower growth,” Milling-Stanley said.

    Milling-Stanley also believes the relaxation of Covid-19 restrictions in China should spark more demand for gold. It’s known as the world’s largest consumer of gold jewelry behind India, according to the World Gold Council.

    “It’s not just China and India. It’s Vietnam, it’s Indonesia, it’s Thailand and Korea. It’s a whole raft of Asian countries that are really the main drivers of gold jewelry demand,” Milling-Stanley said.

    Gold settled at $1,960.47 an ounce Friday. The commodity is up more than 7% so far this year.

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  • Global Startup Cities: Bengaluru | Bank Automation News

    Global Startup Cities: Bengaluru | Bank Automation News

    Financial institutions are looking to personal finance management tools to increase financial literacy among customers.

    Indian fintech FinMapp breaks personal finance management into four categories — planning, budgeting, saving and investing — founder and Chief Executive Kumar Binit told Bank Automation News on this edition of the Global Startup Cities podcast from “The Buzz.”

    “FinMapp [is] a full financial ecosystem in one app,” Binit said, pointing to services that include a financial health check, portfolio tracking and tax planning.

    Founded in 2020, Finmapp partners with more than 40 FIs in India, including $313 billion HDFC Bank and $29 billion IDFC First Bank, which give a commission on all transactions initiated through the app and allow the company to offer its services to consumers for free, Binit said.

    Listen as Binit discusses the flourishing startup scene in Bengaluru, India, and explains how the city went from IT hub to the “Silicon Valley of Asia.”

    The following is a transcript generated by AI technology that has been lightly edited but still contains errors.

    Victor Swezey 0:04
    Hello and welcome to a special edition of the buzz, a bank automation news podcast. Today is July 27 2023. My name is Victor Swezey, and I’m the editorial intern at Bank Automation News. Today is the third episode of our global startup cities series, where we take you to some of the most innovative tech hubs around the world to give you a look at these startup cultures and the markets they serve. Along the way, we’ll be talking to FinTech founders from new cities about the products they’re bringing to market. This week, we’ll be making a stop in Bengaluru, India’s lush garden city and buzzing tech capital will follow Bengaluru growth from IoT hub to full fledged startup ecosystem and compare it to the developing entrepreneurial culture in the capital of Delhi. Joining me today is the founder and CEO of FinMapp, a startup partnering with financial institutions to bring financial literacy to India’s growing middle class. Please welcome Kumar Binit.Kumar Binit 1:04
    My name is Kumar Binit. I’m the founder and CEO of FinMapp. It’s a Fintech startup on a personal finance management space. As far as my background is concerned, I’m from the banking industry worked over two decades in multinational banks, in various locations in India, starting from Mumbai, to Bangalore to eastern side to Northern side in Delhi. And over the two decades of experience, whatever I’ve learned, being a banker, and the pain points, which normally a common working population faces in managing the day to day finances, is where we thought those experiences will come into the picture and we’ll be able to solve the problem of financial literacy which is not only an Indian problem, but a global problems even in the developed country like US or Europe have the financial literacy issue, right. And India specifically the financial literacy rate in India is probably less than 20% Among the Indian working population, and into which a lot of common people faces day to day challenges in managing their personal finance. That is the reason why a fin map came into existing existence, we just launched fin map around eight months back. And currently we’re expanding

    Victor Swezey 2:25
    to tell me a bit more about how food Map Works and you know, what tools does it provide users for tracking their financial health?

    Kumar Binit 2:33
    So, if you see personal finance management is categorized into four core sector which is planning budgeting, savings and investing right now, most of the people what happens so, just to give you a little bit of idea in terms of Indian household income, and India, how the markets is that top is that you know, say probably 40 million people in India belongs to a high income bracket right for example, earning probably you know $100,000 plus right, which is and but there is a huge middle class segment and India right, where people earn anywhere between you know, $1,000 to say 10,000 to $50,000. Now, these are the, this this segment is what we call as a middle class segment, and around 440 million people, you know, currently is within that segment. Now, in case if they want to take personal finance advice or take a financial advisor on board, it costs money right. Now, most of these people trust their parents for their work advisors or their close friends and families right, but those, but those hamper the decision making process, the reason why is whatever advice this they are taking from the parents from the friends and families are based on their own gut feel, and their own, you know, experience and that financial product, right. So, that is why we caught you know, fan map as a tools and services what we are offering as any user can do the entire financial planning, financial health check as to what they are doing is right or wrong, they can do the entire tax planning, they can get all the recommendations and advice on all the retail financial products, which is available in within the banking circle in India. They can get their real time, you know, portfolio tracking. So, all these tools and services are provided free of cost, you know, people can take and it’s on a real time basis. It’s run by, you know, a logarithm machine intelligence and AI right. Now, along with that tools and services. What we have also provided is all the retail financial products under one umbrella so that when people do their financial planning, take recommendations and advices from us that if and actually help capture they can do once the report is generated, you know, they have to take an action in order to, you know, to ensure their financial well being and the security of the families right. Now, when they take an action, we have all the retail financial products to help them to do it seamlessly. So you can call it fin map as a full financial ecosystem in one app. And that is what funnel map is all about.

    Victor Swezey 5:24
    I see. So if you provide this financial ecosystem, you know, free of charge to your to your users, what’s the business model? And where does the revenue come from?

    Kumar Binit 5:34
    Alright, so business model is basically so any transaction which is done by our users through my app, or if they buy any product based on our recommendations based on their financial planning based on their, you know, financial health check, right, whatever critic apps actions they do, and whatever product they buy, we have partnered with more than 40 banks and financial institutions in India offering more than 200 financial products across various retail financial products available in India. So whenever they transact, we don’t charge anything from the user. You know, but the banking and the financial institutions whom we have tied up with, they pay a certain percentage of commission on the transaction value. And that’s how fun map one of the revenue models often map as

    Victor Swezey 6:18
    I see, and I see the some of your partners include, you know, HDFC Bank. And

    Kumar Binit 6:25
    so as I said, we have more than 40 Plus banking and financial institutions, including the leading banks, and and ICSA, HDFC, IDFC. Bank, then we have all the all the asset management companies, people who are offering cards, Amex is one of them, which is already there in our app. So we have all the sub sectors of a FinTech industry covered under one umbrella, whether you require for a wealth tech, whether you’re you require it for lending tech, whether you require it for insurance, all insurance products are available. So that’s how it is currently,

    Victor Swezey 7:05
    you know, given your experience in the in the banking sector, how would you say that this banking landscape in India differs from the one that our users might be more familiar with in, in the US

    Kumar Binit 7:17
    banking landscape, I’m saying the banking landscape might be more or less similar to the US, right? But the way the product is offered to the end consumers is where through the technology is where, you know, probably you can differentiate, that’s that’s a good differentiation between Indian and the US banking approach towards towards the consumers. So, you know, and for example, if you see LM there, it’s more of a problem oriented approach, we take into hands where, you know, many Indian startups focus on solving local problems, you know, addressing the needs of the Indian population. Secondly, you know, if you see, if I compare with US and India, while the United States has a more mature startup ecosystem, India’s startup scene has gained prominence in probably recent years, due to these unique factors like collaborative ecosystem, venture capital funding offices of venture capital, family offices, rising middle class and digital penetration initiative taken by the government of India, diversity and talent load, which is which is, which is also dependent upon the first class education institutions we have. So, all these things put together, I guess that is where, you know, we see a combination of problem oriented approach. Our diverse talent balloon, a government support a growing consumer market, is what differentiates between the US startup ecosystem and the Indian ecosystem startups. It’s,

    Victor Swezey 8:47
    it’s fascinating, and do you think that this growing startups ecosystem is part of, you know, what’s created the market for fin map and the market for people you know, who require financial literacy tools? And what do you think that the impact of an increase in financial literacy could be on the Indian population?

    Kumar Binit 9:06
    See, the impact of financial literacy is somehow you can see it, you can you can see it on the data of the Indian working populations. Now, for example, you know, because of this low financial literacy rate, you will be astonished to hear that 80% of the Indian working population still don’t plan for their financial future. Right? They don’t invest in financial assets, you know, real estate and gold was a traditional way of investing. My father’s forefathers have invested in real estate and gold but they have never looked into various other investment opportunities, which is there in India and still 90% of the Indian working population still don’t invest in financial assets. You know, you know, probably more than 80% pay their medical bills from savings, they don’t have adequate insurance, you know, and probably, you know, more than 50% are not aware of the cop As required for retirement. So, you know the the statistics itself tells that you know, in case if we are able to increase the financial literacy problem in India, right or financial literacy rate in India, all these figures will come down and once these figures will come down it will help us in achieving a trillion dollar economic which we are invoicing and messaging. So, it gives an overall macroeconomic situation of India will improve considerably

    Victor Swezey 10:30
    understood. So, you know, returning to India’s startup scene, I think a lot of people associate Indian startups with Bengaluru and you know, its reputation as the Silicon Valley of Asia. Could you maybe walk our listeners through how Bengaluru became this startup hub? What the startup scene the develop there is? And, you know, where, where maybe where it’s going today?

    Kumar Binit 10:55
    All right, I mean, say for example, I mean, everybody knows that Bangalore is now called as a Silicon Valley finisher. And it can be attributed to various factors, you know, including the emergence of companies like Infosys and Wipro in the 1980s. The liberalization of Indian economy and the subsequent development in the 21st century, which has happened. So, for example, you know, I just mentioned Infosys and Wipro in the 1980s you know, Bangalore had become the birthplace of these two Indian leading IT services companies. And these companies were founded by Indian enterpreneurs focused on software development and IT services, their success chakra asked bangaloreans potential as a technology help and laid the foundations of city’s growth in the IT sector, liberalisation of Indian economy, you know, added of you to the file. And that’s how, you know, development of all the technology parks, the government initiative, like special economic zones, office spaces, infrastructure, electronic city, you know, all these initiatives and amenities provided a collaborative ecosystem for the technology companies to operate and thrive. And that’s how Bangalore came into existence. And along with that, obviously, because the education system in India is so robust, and there are very superior education institutions, like you know, and the bad ideas, you know, Indian Institutes of science etc, which is based out of Bangalore, you know, the talent pool just kept on growing, and it’s not about the growth of the talent pool also, it is about sharing the knowledge. So, if you see banglori, Bangalore, Bangalore is probably, you know, the hub of various, you know, accelerators, program, incubation programs for the startups and mentorship program for the startups and it is also backed by the government of Karnataka. So, that’s how, you know, the Bangalore, Bangalore came into existence in the world, global worldspace as a Silicon Valley of Asia.

    Victor Swezey 13:00
    Thank you so much for walking us through that history. I think that’s really informative for our listeners, and you compare maybe being based in Delhi, but you know, I believe you’re about to open an office in Bangalore and you compare the startup scenes there a bit that tell me what it’s like to be an entrepreneur in Delhi and you know, maybe how what similarities and what differences exist between those two, which I know Delhi, you know, some are saying that now Delhi startup scene is growing really fast too and it’s almost comparable to Bengaluru. So, can you maybe compare those two cities? Yeah. So,

    Kumar Binit 13:33
    probably if you see, if you see the history of investments, which has happened in startup in India, specifically in Bangalore tops, the second comes to Delhi right. And obviously, if you compare the startup ecosystem or the culture probably you know, Bangalore were the pioneers of that and Bangalore is currently the number one, but in comparison to Delhi, if you see the Bangalore and the Delhi comparison, if you see I can you know, there are three prominent you know, the comparison which can look at it Bangalore as a wretched talent pool, right, that is for sure, in terms of educations and institutions and you know, the learning or the even the basic education is on the learning which normally happens in Bangalore, the startup ecosystem culture, the environment, the diversity, which Bangalore has probably Delhi is yet to see that but it is still coming up to that ladder. So, you know, probably, I can see, five years down the line probably, you know, Bangalore and Delhi will be one comparative cities to look at it. The Delhi has proven over the last two, three years that they are catching up very soon, but the Bangalore City as such.

    Victor Swezey 14:50
    You’ve been listening to the bugs, a bank automation news podcast, please follow us on LinkedIn and Twitter. As a reminder, you can rate this podcast on your platform of choice thank you for your time and be sure to visit us at Bank automation news.com For more automation news

    Victor Swezey

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  • Russia will monitor Saudi-hosted Ukraine peace talks

    Russia will monitor Saudi-hosted Ukraine peace talks

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    Russia said Monday it will closely follow talks on Ukraine set to take place in Saudi Arabia early next month.

    Saudi Arabia is planning to host peace talks including Ukraine, Western nations and selected major developing countries in August, the Wall Street Journal reported Saturday.

    Russia — which launched a full-scale invasion of Ukraine in February 2022, and continues to pound Ukraine with missile attacks — was not invited to the talks, but Kremlin spokesperson Dmitry Peskov said Moscow will “follow this meeting,” reported Russian state-owned media outlet RIA Novosti on Monday.

    “It remains to be fully understood what goals are set and what, in fact, the organizers plan to talk about,” said Peskov, adding that any attempts to promote a peaceful settlement are “worthy of a positive assessment.” Russian President Vladimir Putin recently said there could be no cease-fire while Ukrainian forces are “on the offensive.”

    The upcoming Saudi-hosted talks, which could bring together officials from up to 30 countries, are set to take place in Jeddah on August 5 and 6.

    The U.K., South Africa, Poland and the EU have all confirmed attendance, and U.S. National Security Adviser Jake Sullivan is also expected to attend, the Wall Street Journal said. India and Brazil have also been invited.

    Earlier this summer, leaders and senior officials from more than a dozen countries gathered in Copenhagen to discuss a possible peace plan for Ukraine.

    But some major developing countries are still hesitant to condemn the war, as evident during last month’s EU summit with Latin American leaders.

    According to the Journal, officials are hoping the upcoming talks could garner international support for Ukraine’s peace demands, and potentially lead to a summit later this year. Western diplomats reportedly said that Saudi Arabia was picked to host this round of talks partly in hopes of persuading China — which has close ties to Saudi Arabia — to participate.

    Claudia Chiappa

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  • Viral sexual assault video prompts police in India to act more than 2 months later

    Viral sexual assault video prompts police in India to act more than 2 months later

    Note: Some of the details in this story are disturbing.  

    A viral video of a horrific sexual assault in India forced police to act after they’d failed to respond to the victims’ complaints over two months. Several men had paraded two naked women publicly and gangraped at least one of them.

    It took the disturbing video, which many said put the whole country to shame, for police and the government to act and for Prime Minister Narendra Modi to break his silence on an underlying ethnic  conflict that has claimed more than 140 lives and displaced some 60,000 people.

    Police in the small northeastern Indian state of Manipur, which has witnessed deadly ethnic clashes and widespread violence for two months, finally arrested six men over the last few days for publicly parading the two women, reportedly in the presence of police, and allegedly raping at least one of them.  

    The video shows a frenzied mob of men carrying knives and sticks in their hands walking two naked women on a road and onto an agricultural field, with some men groping them on the way.  

    The incident happened on May 4, during the early days of the ethnic clashes in Manipur. The two women, along with the father and brother of one of them, were trying to escape after their village was attacked and burned down by an armed mob of hundreds.

    The mob intercepted them. First, they killed the two men, then sexually assaulted at least one of the two women.

    The gruesome incident went unreported until the video finally made its way onto social media last week, shocking this country of 1.42 billion people and attracting international attention.

    The video sparked widespread protests and led to thousands expressing anger on social media, terming it “disgusting,” “shameful” and “shocking” and urging the government to bring the attackers to justice.

    Protest against the alleged sexual assault in Manipur state, in Ahmedabad
    A demonstrator holds up a placard on July 23, 2023 as police officers detain others during a protest against the alleged sexual assault of two tribal women in the eastern state of Manipur, in Ahmedabad, India.

    AMIT DAVE / REUTERS


    One of the two women in the video later claimed in an interview with the Indian news outlet Scroll that the attackers told her, “If you don’t take off your clothes, we’ll kill you.”

    Modi called the incident “shameful.”  

    “The Manipur incident is shameful for any civilized nation; the entire country has been shamed,” Modi said Thursday. “I assure the nation the law will take its course with all its might. What happened with the daughters of Manipur can never be forgiven.”

    Women put burning hays in the house of the accused in viral Manipur video case, in Manipur
    Women put burning bales of hay in house of the accused in a viral video case, in Manipur, India, on July 20, 2023, in this screengrab obtained from a handout video.

    ASIAN NEWS INTERNATIONAL / Reuters


    India’s Supreme Court said it was “deeply disturbed” by the “simply unacceptable” viral video and asked the government to bring the perpetrators of the crime to justice and file a report on what it was doing to prevent such incidents in future.  

    On Sunday, the U.S. State Department said it was deeply concerned by reports about the video and called the incident “brutal” and “terrible,” the Reuters news agency said.  

    Washington encouraged a peaceful and inclusive resolution to the Manipur violence and urged authorities to respond to humanitarian needs while protecting all groups, homes and places of worship, a State Department spokesperson said. 

    Not an isolated incident  

    India has a shameful record of sexual assaults, with 86 women being raped daily on average, according to the latest government data.

    And more cases of sexual violence reported to police in the last two months but never acted on have come to light.

    Indian media reported Saturday that police records show a similar incident happened May 5, with two women in their early 20s being gangraped and brutally murdered by a mob of about 200 people. But after more than two months, no arrests have been made. 

    In another incident on May 15, an 18-year-old girl was abducted and gangraped in the state’s Imphal East district, Indian media reported.  

    Manipur police, now under pressure to act swiftly, are examining thousands of complaints, including those of arson, killings and sexual assaults, even as the violence continues unabated.  

    A conflict over territory

    The violent conflict in Manipur, the northeast Indian state of 3.3 million people, is between two communities – Meiteis and Kukis – predominantly over land but with evident religious overtones.  Meiteis are mainly Hindu, comprise 53% of the state’s population and live in the valley. Kukis are mainly Christian, about 40% of the population, and live in the hills.   

    The violence began early in May when a court suggested that land rights and other economic benefits enjoyed only by the tribal community of Kukis could be extended to Meiteis too. Kukis started protesting, arguing that the move would further strengthen rival Meiteis, allowing them to buy land and settle in predominantly Kuki areas. 

    The protests led to regular violent and armed clashes between the two communities in which several houses, temples, and churches were burned down and sexual violence was used as a tool of intimidation.

    “There is a complete collapse of governance,” Patricia Mukhim, and activist and editor of The Shillong Times, told CBS News. “It is a humanitarian crisis and a civil war.”   

    Manipur’s tribal communities have fought one another for decades but also clashed with India’s military over varied demands of a separate homeland. More than a dozen militant outfits are still active in the state.  

    Did “divisive policies” lead to the conflict?  

    Opposition politicians have alleged that the government of the state, which is run by Modi’s Bhartiya Janata Party (BJP), is biased in favor of the Meiteis.  

    Mukhim asserted that even the police are siding with Meiteis.

    She explained that the right-wing political party has concern on the part of Meiteis that Kukis will outnumber them as non-Indian Kukis from the bordering country of Myanmar constantly come in.  

    “For Meiteis, it’s kind of a fight to the finish. … It’s now or never,” she explained. “They feel if they drive Kukis out they would be able to occupy some of their land.”  

    Earlier this month, a European Parliament resolution said the violence in Manipur was a result of the “divisive policies promoting Hindu majoritarianism.”

    India responded by saying the EU Parliament should focus on its own internal issues and that “such interference in India’s internal affairs” was “unacceptable” and reflected “a colonial mindset.” 

    Several opposition leaders have questioned the federal and the state governments for, in their view, not doing enough to quell the widespread violence in the state. 

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  • Goldman Sachs expects ‘all time high’ oil demand to spur large deficits, boosting prices

    Goldman Sachs expects ‘all time high’ oil demand to spur large deficits, boosting prices

    Oil storage tanks stand at the RN-Tuapsinsky refinery, operated by Rosneft Oil Co., at night in Tuapse, Russia.

    Andrey Rudakov | Bloomberg | Getty Images

    Goldman Sachs expects record demand in oil markets to drive crude prices higher in the near term.

    “We expect pretty sizable deficits in the second half with deficits of almost 2 million barrels per day in the third quarter as demand reaches an all-time high,” Goldman’s head of oil research Daan Struyven told CNBC’s “Squawk Box Asia” on Monday.

    He added that the bank forecasts Brent crude to rise from just above $80 per barrel now to $86 per barrel by year-end.

    Global benchmark Brent futures traded 0.39% lower at $80.75 a barrel, while U.S. West Texas Intermediate futures stood 0.42% at $76.75 per barrel.

    ‘Elevated demand uncertainty’

    While Struyven acknowledged that U.S. crude oil production has risen significantly over the past year to 12.7 million barrels per day, he said that pace of growth will slow throughout the rest of 2023.

    “We expect U.S. crude supply growth to slow down pretty significantly to a sequential pace of just 200 barrels per day from here,” he said, pointing to the decline in rig counts. That metric, which tallies the number of active oil rigs, is used as an indicator of drilling activity and future output.

    The U.S. oil rig count recently hit its lowest level in 16 months, down 15% from its late 2022 peak, a recent Goldman report observed, citing data from Baker Hughes and Haver.

    Last week, Baker Hughes reported U.S. oil rigs fell by 7 to 530 the lowest since March 2022.

    Struyven suggested that the lack of an agreement following the G20 energy ministers’ meeting indicates “very substantial” uncertainty about long-run oil demand.

    The Group of 20 energy ministers met in India over the weekend, but left without reaching a consensus on the phasing down of fossil fuels, complicating the transition toward clean energy.

    “Key point here for investors is, with the uncertainty about oil demand being so elevated, investors may require a premium to compensate for the for the elevated risk from such elevated demand uncertainty,” Struyven said.

    The International Energy Agency in June had predicted that global oil demand is on track to rise by 2.4 million barrels per day in 2023, outpacing the previous year’s 2.3 million barrel per day increase. 

    Over the weekend, secretary general of the International Energy Forum Joseph McMonigle had forecast that both India and China will make up 2 million barrels a day of demand pick-up in the second half of 2023.

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  • What will be the fallout of ethnic violence in India’s Manipur?

    What will be the fallout of ethnic violence in India’s Manipur?

    Video of two tribal women being assaulted has caused outrage with questions for the governing BJP.

    It happened more than two months ago, but video only released last week of a mob in the northeastern Indian state of Manipur, attacking two women has led to outrage.

    The women were stripped naked and paraded in public with no help from the police.

    The governing BJP is also in charge of the state – and changes it has made to tribal land rights have been behind the region’s recent ethnic unrest.

    So will this have any impact on Prime Minister Narendra Modi’s BJP, with elections next year?

    Could it have any influence on women’s rights in India?

    Presenter: Adrian Finighan

    Guests: 

    Tora Agarwala – Independent journalist who covers India’s northeastern region

    Mohan Krishna – Spokesperson for India’s governing Bharatiya Janata Party (BJP)

    Binalakshmi Nepram – Convenor at the Northeast India Women Initiative for Peace

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  • In India, fantasy gaming is causing addiction and financial ruin

    In India, fantasy gaming is causing addiction and financial ruin

    Within one month Santosh Kol, an aspirant for government jobs in India, lost in betting apps the entire 40,000 rupees ($489) that his father had sent him in March to pay for his tuition.

    Kol’s father, a construction labourer in Sidhi district in the central Indian state of Madhya Pradesh, had borrowed the money from the community leaders in his village to pay for the coaching classes where his son was enrolled to prepare for national competitive exams for government jobs. Kol, 25, said that one of his friends suggested he bet on these apps, which offer the opportunity to earn large sums of money. Initially, he won a few thousand rupees but then became greedy and lost everything.

    Kol’s name has been changed to protect his identity.

    Kol, who lives in a one-room apartment with books scattered everywhere and a small kitchen in one corner, told Al Jazeera that he was hoping to win money from his betting and return it to the village elders.

    He said, “My family is extremely poor. They somehow managed to gather this much money for my fees. I thought I would win money in this app and return his money. However, when I invested my money in these apps, I lost it. Now, I am getting suicidal thoughts” because he is worried about how he will return the money, he said.

    Kol is not the only one who is addicted to these apps.

    Prateek Kumar, a 16-year-old teen from the same area and an ardent cricket fan has developed a habit of betting on fantasy gaming apps.

    His father Lalji Dwivedi is a small farmer and earns about 6,000 to 7,000 rupees ($73 to $85) a month. He told Al Jazeera that his son is hooked on cricket and watches all the matches of the Indian Premier League (IPL), cricket’s most lucrative domestic tournament and which counts some of these gaming apps as its sponsors. Dwivedi blames the ads for luring his son into the gaming world.

    “He got influenced by an advertisement during the breaks, and he started using fantasy gaming apps to bet every day,” Dwivedi said. “Now, before each match, he asks me to give him money to bet on these apps. When I refuse to give him money, he gets upset.”

    Fantasy gaming apps have exploded in popularity in India in recent years [Anil Kumar Tiwari/Al Jazeera]

    In recent years, fantasy gaming apps have exploded in popularity in India, with millions of users joining platforms such as Dream11, My11Circle and MPL, among others. These apps offer users the chance to create virtual teams of real-life athletes and compete against others based on the performance of these athletes, with the chance to win cash prizes or other rewards.

    However, the lack of regulatory authority and the massive advertising campaigns by these platforms have led to concerns about the addictive nature of these apps and the potential harm they can cause to users, particularly children and vulnerable individuals.

    Prateek’s favourite apps are Dream11 and My11Circle, his father said. They require a user to be 18 years old to be able to play, but that hasn’t deterred Prateek who used his father’s ID to sign up on both apps.

    Al Jazeera’s emails to Dream11, My11Circle and the industry body the Federation of Indian Fantasy Sports, went unanswered.

    Dwivedi told Al Jazeera that initially, Prateek used to bet between 50 to 100 rupees ($0.60  to $1.20). However, now he creates two to three teams and ends up losing an average of 300 to 400 rupees ($3.70 to $4.90) – money from the family’s savings and from his mother’s earnings as an agricultural labourer – on most days.

    “I don’t earn enough money to feed my family. If my son keeps losing this much money, I don’t know how we will manage to survive,” said Dwivedi, adding that he has tried to deny his son the money but as the teen gets agitated, he gives in to his demands.

    He added, “I am deeply concerned about my son’s behaviour, which has left me feeling anxious and helpless.”

    Massive advertising by fantasy apps

    Fantasy gaming apps were the top advertisers on television during IPL-16, which ended in late May, with 18 percent of the advertising share, up from 15 percent in the previous IPL, according to a TAM advertising report.

    The apps use famous cricket players including Saurav Ganguly, Virat Kohli, Shubman Gill, Hardik Pandya, as well popular actors like Aamir Khan, R Madhavan, Sharman Joshi and others to endorse them.

    As per a report by consultancy RedSeer, the income of fantasy gaming platforms increased by 24 percent during the IPL cricket matches from 2022 to 2023, reaching over 28 billion rupees ($341m). Around 61 million users took part in fantasy gaming activities, nearly 65 percent of who came from small towns.

    These gaming apps require an entry fee to participate, and there is a risk of losing money if the team underperforms. Dream11, the largest fantasy sports platform in India, boasts over 180 million users. MPL claims to have 90 million users, and My11Circle claims to have 40 million users.

    Santosh Kol planning his fantasy team as he bets money
    Santosh Kol planning his fantasy team as he bets money [Anil Kumar Tiwari/Al Jazeera]

    The great debate: Game of skill or chance?

    Shashank Tiwari, a lawyer at Jabalpur High Court, said that in India, the law for controlling fantasy gaming apps is mainly based on the Public Gambling Act of 1867. This law forbids all types of gambling in the country, except for certain games that involve skill, including bridge and chess. He added that ads for these apps can be misleading because they show people winning a lot of money, but in reality, most players only win a small amount.

    Nikkhhil Jethwa, a technology expert and a lawyer, said that if we consider a game as a game of skill, then we must comprehend that the app algorithm controls the entire game, which is synchronised in such a way that the company generates more profit than the players. If a game is classified as a skill game, it should include analytics, statistics, or data studies. Assumption-based decisions cannot be considered skilful.

    In India, games requiring a substantial amount of skill can be played for money without being classified as gambling. However, the absence of a standardised set of laws across all states has resulted in difficulties in regulating fantasy gaming apps in the country. For now, certain states have legalised and regulated online gaming, whereas a handful of others have completely prohibited it.

    ‘Need Uniform law’

    Last year in January, Madhya Pradesh – Santosh Kol and Prateek Kumar’s home state – said it would bring in a new law to regulate online gaming. Home Affairs Minister Narottam Mishra made the announcement after an 11-year-old boy died allegedly by suicide. The boy, according to local media reports, was addicted to online gaming apps and had spent 6,000 rupees ($73) on them without his parents’ knowledge. In December, the state set up a task force to study the technical, legal and other aspects of banning online gambling. It is yet to submit its report.

    While Indian law has some provisions – such as the Juvenile Justice Act of 2015, to protect, care for and help rehabilitate children who need it, and the Information Technology Rules of 2021, which require intermediaries to make sure that minors are kept safe from harmful content – these laws are “insufficient in effectively addressing the extensive psychological repercussions, especially the detrimental effects on minors”, lawyer Tiwari said. Instead of piecemeal measures, “a uniform national law to regulate these apps could help to create clarity and consistency in the legal landscape”, he added.

     

    Prateek Kumar with his father
    Lalji Dwivedi (left) is worried that his son Prateek Kumar (right) is addicted to these gaming apps [Anil Kumar Tiwari/Al Jazeera]

    Surge in addiction treatment seekers

    In 2014, the National Institute of Mental Health and Neuro-Sciences  (NIMHANS) in Bengaluru, India, started the Service for Healthy Use of Technology, or SHUT Clinic. It is India’s first clinic that deals exclusively with mental health problems related to technology use. At the time, the clinic used to get about three to four patients with gaming addictions per week. That number has now shot up to about 20 to 22 individuals seeking help per week, Dr Manoj Sharma, professor of clinical psychology and head of the SHUT Clinic, told Al Jazeera.

    According to Dr Sharma, some students are treating these apps as the equivalent of their education, which, he said, is “a worrying trend”. They believe that if they continue to use these apps, they will earn a significant amount of money and recover their losses. This kind of thinking can lead to addiction to these gaming apps, he said.

    Most addicted individuals do not acknowledge that they have developed an obsession with these apps, he added. Many parents bring their children to the clinic for treatment, but it takes a considerable amount of time for the children to admit that they are addicted to such apps.

    According to Jethwa, fantasy games should not involve money. Instead, the winner should be awarded points so that only individuals with a genuine interest in gaming will participate.

    Dr Sharma suggested that instead of focusing on imposing stricter laws, it is crucial to establish forums in smaller cities to create public health awareness about the mental health issues caused by these apps.

    High tax

    The Indian government declared on July 11 that it will impose a 28 percent tax on online gaming, which analysts expect will be collected from customers who will now have to pay higher fees.

    Anirudh Tagat, a research author at the Department of Economics at Monk Prayogshala, a nonprofit research organisation, said the government is treating online games similar to cigarettes and alcohol, hoping that the high taxes will make people not want to play them.

    Tagat said, “The government wants to make it more expensive to play these games so that people will stop playing them. But I don’t think people will actually stop playing just because of the high taxes.”

    He added, “These apps use different strategies to get people to play and spend money on them. Even if they have to pay a lot of taxes, these apps will still continue to be popular in the long run.”

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  • India’s Chandrayaan-3 moon mission takes off with a successful launch as rocket hoists lunar lander and rover

    India’s Chandrayaan-3 moon mission takes off with a successful launch as rocket hoists lunar lander and rover

    New Delhi — Scientists with India’s space program erupted with joy on Friday as a massive rocket lifted off with a bang and tore through the clouds, carrying an unmanned spacecraft on a mission to land on the dark side of the moon. A LVM3-M4 heavy-lift rocket carried the Chandrayaan-3 spacecraft, with its lunar lander and small rover, away from the Satish Dhawan Space Centre in Sriharikota, southern India, at 2:35 p.m. local time on Friday without a hitch.

    It was a “text-book launch” as the rocket successfully delivered Chandrayaan-3 into orbit, scientists from the Indian Space Research Organization (ISRO) said.

    India Lunar Mission
    Indian spacecraft Chandrayaan-3, the word for “moon craft” in Sanskrit, is launched from the Satish Dhawan Space Centre in Sriharikota, India, July 14, 2023 aboard a LVM3-M4 heavyweight rocket.

    Aijaz Rahi/AP


    Chandrayaan-3 is the country’s third lunar exploration mission and scientists are hoping for a soft landing near the moon’s little-explored south pole in the months ahead.

    It is India’s second attempt to land on the moon’s surface. In 2019, India’s second lunar probe, Chandryaan-2, failed, with a heart-breaking crash of its lander on the moon’s surface. The orbiter from the Chandrayaan-2 mission is still in lunar orbit and continues to send back data on the moon’s atmosphere today. That information will be used by Chandrayaan-3 in the current mission.

    The spacecraft’s journey to the moon should take about 40 days, with the landing attempt expected on August 23. If the landing is successful, India will join an elite club currently made up of just three countries — the United States, Russia and China — that have pulled off successful moon landings.

    If the lander touches down safely, the rover will explore the moon’s surface for one lunar day, or approximately 14 Earth days, to collect scientific data on our nearest celestial body’s composition.

    “Chandrayaan-3 scripts a new chapter in India’s space odyssey. It soars high, elevating the dreams and ambitions of every Indian,” Indian Prime Minister Narendra Modi wrote on Twitter after the launch. “This momentous achievement is a testament to our scientists’ relentless dedication. I salute their spirit and ingenuity!”

    India’s first mission, 13 years ago, was a huge success as scientists said their lunar orbiter had detected water molecules around the moon’s south pole. It was the first evidence of water there – a discovery that startled scientists globally and raised hopes of the possibility of sustaining human life on moon in future.

    India’s moon missions are seen as a demonstration of the country’s growing space prowess.

    ISRO chief Sreedhara Panicker Somanath said the space agency had studied data from the last crash and used it to improve their lander.

    Chandrayaan-3 weighs about 4.3 tons in total. The lander, called Vikram, weighs about 3,300 pounds and carries the rover, named Pragyaan, which weighs less than 60 pounds.

    Mission Moon, India Attempting A Robotic Moon Landing
    Models and images of India’s lunar lander are seen on July 7, 2023 in Bengaluru, India. India launched its third lunar mission, Chandrayaan-3, on July 14, 2023, carrying the actual lunar lander, named Vikram, into orbit.

    Pallava Bagla/Getty


    “The rover is carrying five instruments which will focus on finding out about the physical characteristics of the surface of the moon, the atmosphere close to the surface and the tectonic activity to study what goes on below the surface,” Somanath told an Indian news outlet. “I’m hoping we’ll find something new.”

    ISRO said the lander and rover were fitted with sensors and other high-tech instruments designed to carry out experiments and collect data on the chemical composition of lunar soil, measure any seismic activity, and measure the thermal properties of the lunar surface near its south pole.

    Millions of Indians watched the spectacular launch of the rocket live on TV and social media platforms. Many described it as “a moment of pride, glory and joy,” while some said they got “goosebumps” watching the rocket lift off.

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