Morning Briefing
ModiWatch: Following the Indian Prime Minister’s official 2 day visit to Poland — the first visit by an Indian Prime Minister to the nation in 45 years — the countries announced the upgrading of their bilateral relations to the level of a “Strategic Partnership.” In their joint statement, Polish Prime Minister Donald Tusk and Prime Minister Modi stressed the need to maintain regular high-level contacts to strengthen bilateral political dialogue and develop mutually beneficial initiatives in the official communique. In establishing a Strategic Partnership, the two sides have agreed to formulate and execute a five-year Action Plan (2024-2028) to guide bilateral collaboration across areas such as political dialogue and security cooperation, trade and investment, climate, energy, mining, science and technology, terrorism, cyber security, health, people-to-people ties and cultural cooperation.
The trillion dollar club: Minister of Commerce and Industry, Piyush Goyal, claims India is set to add $30 trillion to its economy in the next 30 years - giving India “a position of strength” while negotiating agreements with other nations. According to Goyal, India has negotiated “a legally binding commitment” with the European Free Trade Association (EFTA) countries to “invest $100 billion and create one million jobs in India as Foreign Direct Investment for the next 15 years.
Reactor blast in Andhra Pradesh: A reactor blast in Escientia Advanced Sciences Private Ltd., a company manufacturing chemicals and pharmaceutical ingredients has led to a major fire. At least 17 workers were killed and 20 others sustained burns.
SEBI's Madhabi Buch faces protests: The Congress Party’s Delhi unit staged a demonstration at Jantar Mantar demanding the resignation of Securities and Exchange Board of India (SEBI) Chairperson Madhabi Buch and the constitution of a Joint Parliamentary Committee probe over last week’s Hindenburg report. The report alleges Buch and her husband had a stake in the obscure offshore entities used in the Adani money syphoning scandal.
First meeting of Joint Committee on the Waqf (Amendment) Bill: The Lok Sabha had tasked the 31-member committee to scrutinise the bill, which has drawn protests from opposition parties and Muslim organisations. A waqf is personal property set aside by Muslims for specific purposes like religious, charitable, or for private purposes. The proposed bill by the Government seeks to alter the way waqf properties are governed and regulated in the country.
Delhi Today: Cloudy; a couple of thunderstorms in the morning followed by occasional rain and a thunderstorm in the afternoon.
Lok Sabha: Not in session.
Rajya Sabha: Not in session.
Closing prices: Delhi Spot Gold +0.15% ₹7,119 (24 karat), ₹/$ +0.1% 83.865, BSE Sensex +0.2% 81053, 10 Year Gilt 6.85%.