ModiWatch: Prime Minister Narendra Modi met German Chancellor Olaf Scholz and discussed a wide range of issues focused on bolstering bilateral strategic ties.

PM Modi urged German investors to invest in India, stating this is the “right time” for the growing economy.

In his “Mann Ki Baat” podcast show, PM Modi discussed the cybercrime of “digital arrests,” noting that it has affected all sections of society and urging people to adopt the mantra of “stop, think, and take action” when faced with such a scam.

PM Modi and Spanish PM Pedro Sanchez will inaugurate the Tata-Airbus facility in Gujarat today for manufacturing C-295 aircraft by Tata Advanced Systems.

PM Modi will also inaugurate various development projects worth ₹4,800 crore in Gujarat today.

India’s space journey

India’s space station to be ready by 2035: The Minister of State (Independent Charge) for Science and Technology, Jitendra Singh, announced that India will have its own Space Station by 2035, which will be known as "Bharatiya Antriksh Station".

India eyes major seat in the global space economy: ISRO chairman S Somanath said India is aiming to increase its contribution to the global space economy to at least 10% in the next decade, from the current 2%. He also announced Gaganyaan, the manned space mission, likely in 2026; sample return mission Chandrayaan-4 in 2028; and the much-delayed India-US joint NISAR mission is scheduled for next year.

Indian diplomats target Canada and Pakistan

Recalled envoy attacks Trudeau: Sanjay Verma, who was recalled from Canada after being labelled ‘person of interest’ in a murder plot by Canada, attacked Canadian Prime Minister Justin Trudeau saying, that not acting against Khalistanis is similar to terrorism.

India questions the condition of women in Pakistan: India questioned the conditions of women belonging to minority communities, notably Hindus, Sikhs, and Christians in Pakistan at the UN Security Council meeting on women, peace and security.

Domestic Politics

Congress to not contest UP by-polls: The Indian National Congress, the largest opposition party, has decided not to contest the 9-seat UP bye-elections. The party released a statement saying, that Congress is looking to strengthen the INDIA bloc, the opposition coalition, by supporting the Samajwadi Party.

Parliamentary committee questions the Foreign Secretary: The Parliamentary Standing Committee on External Affairs demanded a response from Foreign Secretary Vikram Misri on why there was no joint statement from India and China on the “disengagement” at the Line of Actual Control in eastern Ladakh.

Congress accuses BJP of protecting SEBI chairperson: The Congress accused the BJP of aiding Securities and Exchange Board of India (SEBI) chairperson Madhabi Puri Buch in not answering the Parliament’s Public Accounts Committee (PAC).

Green energy news

Asian Development Bank approves $434.25 million for Indian state: The Asian Development Bank has approved a $434.25 million loan to increase renewable energy capacity and improve energy in Assam.

Natural gas board invites bids for a natural gas pipeline: The Petroleum and Natural Gas Regulatory Board (PNGRB) has opened bids until February 18, 2025, to develop a 425-km Kochi-Kanyakumari-Thoothukudi natural gas pipeline.

Greenhouse gas emissions increase in India: According to the UN report, Indian greenhouse gas emissions rose 6.1% in 2023, contributing 8% to the global landscape. However, India's all-time emissions remain at 3%.

Apple supplier to invest in India: Jabil, an Apple supplier, is aiming to invest an additional ₹2,102-₹2,312 crore ($250-$275 million) in India to establish at least two new production sites over the next three to four years.

L&T bags significant order for nuclear fusion project: Infrastructure major Larsen & Toubro (L&T) reported it has bagged a 'significant' order from the global body ITER Organization for the deployment of advanced welding technologies at its nuclear fusion project in France.

Ericsson identifies network densification to drive growth: Ericsson, a Swedish telecom gear company, is expecting network densification to drive the next phase of growth in India due to the rising data consumption trends among end users.

Airbus deal, Reliance pulls back team from Dubai

India to procure 15 additional aircraft: India will procure 15 additional C-295 transport aircraft from Airbus, other than the 56 already contracted, of which 12 will be manufactured in India by Tata Advanced Systems Limited (TASL).

Reliance recalls Dubai crude team to Mumbai: India's Reliance Industries Ltd, operator of the world's biggest refining complex, is restructuring its trading operations, including moving most of its Dubai crude oil trading team back to Mumbai. The relocation of its crude trading team by the end of this year comes after the private refiner secured long-term oil supplies from Russia.

RTEF to get Ratan Tata’s stake: The Ratan Tata Endowment Foundation (RTEF) is expected to receive most of Tata's estimated ₹10,000 crore estate, including his stake in Tata Sons and other Tata Group enterprises. He also left assets for his brother, sister, companion Shantanu Naidu, his cook and his dog Tito.

Bolstering ties across the globe

Delegation from Rhineland discusses opportunities with state government: A high-level delegation from Rhineland, Germany discussed business opportunities in Telangana with ministers and leaders focusing on chemicals, pharmaceuticals, biotechnology, vaccines, packaging, poultry, agriculture, automobiles and logistics.

Commerce minister hails collaboration with Germany: The Commerce and Industry Minister, Piyush Goyal, speaking on the India-Germany collaboration said that from AI adoption to semiconductors, from fostering the nation’s vibrant startup ecosystem to collaborating on green technology, the synergies between India and Germany can drive unprecedented growth.

India’s Free Trade Agreement demands from EU: Speaking at the Asia-Pacific Conference of German Business, the Commerce and Industry Minister, Piyush Goyal, highlighted the need to understand and respect mutual sensitivities to expedite India-European Union free trade agreement (FTA) negotiations.

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US, Japan and South Korea to support digital infrastructure in India: The US, Japan, and Korea announced they will launch the Digital Infrastructure Growth Initiative for India Framework (DiGi Framework), further strengthening their partnership with the Indian private sector to support digital infrastructure in India.

Hoax bomb threats continue to rise

Centre orders Meta and X to share data on hoax bomb threats: The Centre has ordered social media platforms Meta and X to share data on hoax bomb threats to Indian airlines via their medium.

Foreign investors continue to withdraw money

Foreign portfolio investments continue to withdraw: Due to Chinese stimulus measures, attractive stock valuations, and the high price of domestic shares, foreign investors have continued to sell in the Indian market, withdrawing ₹85,790 crore ($10.2 billion) from stock markets in October.

India-China border agreement

India-China begins the disengaging process: Following the border patrolling agreement, India and China have begun disengaging from Depsang and Demchok, the disputed areas along the Line of Actual Control (LAC).

China confirms disengagement proceeding smoothly: After India, China released a statement saying the disengagement process is going smoothly in Eastern Ladakh. The process is set to be completed by October 29.

Kenya rethinks Adani deal

Kenya’s High Court suspends Adani deal: Kenya's High Court suspended a $736 million deal between a state utility and India’s Adani Energy Solutions to build infrastructure including transmission lines.

Views from the Op-Eds: Should the RBI Cut Interest Rates?

Ishan Bakshi (The Indian Express) argues that the RBI may be "behind the curve" in addressing growth-inflation dynamics. With subdued core inflation and the expected softening of food prices, he believes rate cuts could be warranted to support economic growth.

Mithali Mukerjee (Frontline) contends that the RBI should remain vigilant against inflationary pressures and not rush into cuts. She warns that easing rates too soon might undermine the central bank’s hard-won credibility.

Mihir Sharma (Bloomberg) suggests revising India's inflation framework to exclude volatile food prices from the target. He argues that keeping rates high due to temporary food inflation is constraining growth, with monetary policy unable to fix supply-side issues.

Delhi today: Plenty of sunshine.

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