ModiWatch: Prime Minister Narendra Modi met U.S. President Joe Biden at his home in Wilmington, Delaware, on the sidelines of the Quad Summit. The leaders discussed ways to cooperate in areas of mutual interest, including regional and global issues like the Indo-Pacific region. Both expressed confidence in the strength of the comprehensive strategic partnership, driven by shared democratic values.
PM Modi also met Japanese Prime Minister Fumio Kishida and Australian Prime Minister Anthony Albanese on the sidelines of the Quad Leaders’ Summit. PM Modi and Kishida reflected on their strong relationship, marking the 10th year of the India-Japan Special Strategic and Global Partnership, and discussed deepening cooperation in defence, security, and business ties. Modi and Albanese focused on enhancing bilateral ties across multiple sectors, including trade, renewable energy, and strategic partnerships. Both leaders reaffirmed their commitment to multilateral cooperation and advancing the India-Australia Comprehensive Strategic Partnership.
Atishi sworn in: Atishi was sworn in as Delhi's third woman Chief Minister on Saturday, becoming the youngest to hold the position in the National Capital. She is also the 17th woman to serve as Chief Minister in independent India. However, her tenure is expected to be short-lived, with Assembly elections scheduled for February 2025.
U.S. and India strengthen strategic partnership: U.S. President Joe Biden and Indian Prime Minister Narendra Modi reaffirmed their nations' Comprehensive Global and Strategic Partnership, focusing on democracy, human rights, and shared values. Both leaders highlighted the importance of the Major Defense Partnership in global security, and applauded collaboration on critical technologies, including space, semiconductors, and clean energy. They also committed to further cooperation in cybersecurity, artificial intelligence, and sustainable energy solutions like nuclear and solar power. Both countries aim to strengthen supply chains and reduce barriers to technology transfers.
Quad leaders announce new initiatives to strengthen Indo-Pacific partnerships: On Sunday, PM Modi attended the sixth Quad Leaders' Summit in Wilmington, Delaware, hosted by U.S. President Joseph Biden. Alongside Australian Prime Minister Anthony Albanese and Japanese Prime Minister Fumio Kishida, Modi stressed the Quad’s role in promoting global stability and a free, open, and prosperous Indo-Pacific. Initiatives announced included the "Quad Cancer Moonshot" to combat cervical cancer, the "Maritime Initiative for Training in the Indo-Pacific" (MAITRI), and the first-ever "Quad-at-Sea Ship Observer Mission" in 2025. India also introduced a space-based web portal for Mauritius and a new engineering fellowship under the Quad STEM (Science, Technology, Engineering, and Mathematics) programme. The Summit concluded with the adoption of the Quad Wilmington Declaration and the announcement that India will host the next Quad Leaders' Summit in 2025.
Quad leaders unite for a free and open Indo-Pacific: At the Quad Leaders Summit Prime Minister Narendra Modi, Prime Minister Anthony Albanese, Prime Minister Kishida Fumio, and President Joe Biden, reaffirmed their commitment to a stable and inclusive Indo-Pacific. They condemned destabilising actions in the region, highlighted the importance of international law, and emphasised support for ASEAN (Association of Southeast Asian Nations). The leaders announced initiatives to enhance cooperation in health security, critical technologies, and climate action, while also condemning recent terrorism and violence in the Middle East.
US-India collaboration targets $1 billion clean energy supply chain boost: The United States and India have unveiled a roadmap to strengthen global clean energy supply chains, with a focus on creating high-quality jobs and accelerating global clean energy deployment. The partnership aims to unlock $1 billion in financing through the International Bank for Reconstruction and Development (IBRD) to support India’s clean energy manufacturing, focusing on sectors like solar, wind, batteries, and energy-efficient technologies. Both countries plan to expand cooperation in Africa, with potential clean energy projects involving solar and electric vehicle (EV) deployment. This initiative builds on existing collaborations, including India’s $4.5 billion Production Linked Incentive (PLI) Schemes and US clean energy legislation. The roadmap also focuses on collaboration with private sectors, government agencies, and civil society to launch pilot projects across the clean energy value chain.
India inks landmark clean economy pact in $23 billion Indo-Pacific deal: India has signed agreements under the Indo-Pacific Economic Framework (IPEF) for prosperity, focusing on clean and fair economies. The pacts, inked on Saturday in Delaware, aim to promote technical cooperation, combat corruption, and enhance trade transparency across the Indo-Pacific region. As part of the Clean Economy Agreement, IPEF partners have identified $23 billion in priority infrastructure projects, with India offering potential opportunities worth $4 billion in renewable energy. The framework also includes initiatives like the IPEF Upskilling Initiative, which has provided 4 million digital skills training opportunities in India, primarily for women and girls. These agreements are expected to boost investment, facilitate India's integration into global value chains, and support the country's efforts in fighting corruption and promoting sustainable development.
Invest India opens first overseas office in Singapore: Commerce and Industry Minister Piyush Goyal inaugurated Invest India's first overseas office in Singapore on Sunday. This office aims to strengthen investment ties and facilitate foreign investors looking to engage with India. Goyal highlighted Singapore's role as an important strategic partner and noted plans to open more overseas offices for better access to India's growing economy.
India processes 49% of global real-time payments as UPI transactions hit 131 billion: The Department of Financial Services (DFS), Ministry of Finance, is driving India's digital payments growth, with the Unified Payments Interface (UPI) transforming real-time transactions. Digital payments jumped from 20.7 billion in Fiscal Year (FY) 2017-18 to 187.4 billion in FY 2023-24, while UPI transactions soared from 920 million to 131 billion. UPI’s simplicity and widespread adoption have made it the preferred payment method, with 62.4% of transactions in August 2024 being Person-to-Merchant (P2M). UPI and RuPay are expanding globally, now operational in seven countries, improving cross-border payments. India accounts for 49% of global real-time transactions.
India engages with Bangladesh opposition after political shift: In a diplomatic move following the fall of the Sheikh Hasina government on August 5, 2024, India's High Commissioner to Bangladesh, Pranay Verma, and his team met with Mirza Fakhrul Islam Alamgir, General Secretary of the Bangladesh Nationalist Party (BNP), in Dhaka. This marks the first interaction between Indian diplomats and BNP leadership since the political change. Alamgir shared that the discussion focused on improving India-BNP relations and bolstering ties with Indian political parties, as well as addressing security concerns in Bangladesh.
61.38% voter turnout in first phase of Jammu and Kashmir assembly elections: The first phase of the 2024 Jammu and Kashmir Assembly Elections saw a voter turnout of 61.38% across 24 Assembly Constituencies.
India-Australia trade ties: At the invitation of Australia's Trade and Tourism Minister Don Farrell, Commerce and Industry Minister Piyush Goyal will visit Australia from today to co-chair the 19th India-Australia Joint Ministerial Commission meeting in Adelaide. Goyal will engage with Australian and Indian CEOs, industry leaders, and pension fund representatives to highlight investment opportunities in India, while promoting collaboration in sectors like critical minerals, education, renewable energy, and space. The visit comes as both nations strengthen ties, with a focus on boosting trade through the Economic Cooperation and Trade Agreement. Goyal will also virtually attend the Indo-Pacific Economic Framework (IPEF) meeting on Tuesday.
India ranks among global cybersecurity leaders: India has achieved a major milestone by securing Tier 1 status in the Global Cybersecurity Index 2024, published by the International Telecommunication Union. With a score of 98.49 out of 100, India joins the ranks of top nations globally recognised for demonstrating a strong commitment to cybersecurity.
India and ASEAN push for trade agreement upgrade: Commerce and Industry Minister Piyush Goyal co-chaired the 21st ASEAN-India Economic Ministers (AEM-India) meeting in Vientiane, reviewing the $120.9 billion bilateral trade for 2023-24. Discussions focused on upgrading the ASEAN-India Trade in Goods Agreement (AITIGA) to address industry concerns over tariff imbalances, with plans to conclude the review by 2025. Goyal also urged the creation of Joint Committees to review the 2014 agreements on Services and Investment. On the sidelines, he discussed the India-EFTA Trade and Economic Partnership Agreement, including a $100 billion Foreign Direct Investment commitment with Switzerland’s Secretary for Economic Affairs. Additionally, Goyal engaged with industry leaders from the Federation of Indian Chambers of Commerce and Industry and the ASEAN-India Business Council.
Minister Goyal at East Asia Summit: During his visit to Vientiane, Lao People's Democratic Republic, Commerce and Industry Minister Piyush Goyal attended the 12th East Asia Summit Economic Ministers’ Meeting (EAS EMM). He reaffirmed India's commitment to the East Asia Summit and highlighted India's projected growth rate of 7-7.2% for 2024-25, positioning it as the third-largest economy by 2027.
India-South Korea revamps trade relations: India and South Korea are in discussions to upgrade their existing free trade agreement, aiming to balance bilateral commerce and boost investments. Commerce and Industry Minister Piyush Goyal met with his South Korean counterpart, Inkyo Cheong, in Vientiane, Laos, where they focused on achieving more equitable trade through the India-Korea Comprehensive Economic Partnership Agreement (CEPA). Goyal highlighted the need for investments that create jobs and the importance of addressing non-tariff barriers to strengthen economic relations between the two nations.
India and Brazil unite for sustainable energy transition: During his official visit to Brazil, India's Minister of Petroleum and Natural Gas Hardeep S. Puri, and Brazil's Minister of Mines and Energy Alexandre Silveira, discussed enhancing cooperation in the energy sector. They reviewed Indian investments in Brazilian oil and gas, reaffirming their commitment to boost bilateral trade, particularly in sustainable fuels and biofuels. Both nations, as founding members of the Global Biofuels Alliance, emphasised the importance of Sustainable Aviation Fuels (SAF) in decarbonising aviation.
India and Bhutan strengthen food safety ties: The Food Safety and Standards Authority of India (FSSAI) and Bhutan Food and Drug Authority (BFDA) held a bilateral meeting during the Global Food Regulators Summit to implement the Agreement signed on 21 March 2024, during Prime Minister Narendra Modi’s visit to Bhutan. The Agreement aims to align regulatory frameworks, simplify food import procedures, and foster technical collaboration, recognising Bhutan's control over food business operators (FBOs). FSSAI CEO, G. Kamala Vardhana Rao, highlighted the partnership’s role in streamlining trade and raising food safety standards.
Delhi Today: Humid with hazy sunshine.
Rajya Sabha: Not in session.
Lok Sabha: Not in session.