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India’s fleet expansion of nuclear-powered submarines will significantly boost its security interests in the Indian Ocean as it jostles for influence with China, but a yawning technological gap still exists between New Delhi and Beijing, observers say.
Hyundai Motors India’s US$3.3 billion IPO, the country’s largest ever public share offering, opened on Tuesday in a test of global investor confidence in the country’s ambition to become a manufacturing powerhouse as it positions itself as a key alternative to China.
Air India’s ambitious expansion plans are expected to be on track even as the death of Tata Group’s family patriarch Ratan Tata, the driving force behind the conglomerate’s bet on aviation, has turned attention to the flag carrier’s legacy issues and growth challenges, analysts say.
Electoral surveys had unanimously predicted a resounding defeat for the BJP in Haryana, with India’s main opposition Congress Party expected to trounce the ruling party in the northern state. Against all forecasts, the BJP secured a third consecutive term by winning 48 seats – its biggest win ever in the state – compared to the Congress party’s 37 seats, based on official results released on Tuesday.
“India has consistently acted as the first responder for the Maldives,” Modi said.
The Indus Waters Treaty between the two countries was signed in 1960 and facilitated by the World Bank. India controls the Beas, Ravi and Sutlej rivers, while Pakistan oversees the Indus, Chenab and Jhelum rivers under the treaty.
“I asked them, ‘Why do you want me to be the PM, and why should I not be with the PM [Modi]?’ So, becoming prime minister is not my ambition,” Gadkari said, without revealing who the offer came from.
Vishal Mega Mart, a supermarket chain backed by Partners Group Holding AG and Kedaara Capital, plans to raise between US$850 million and US$1 billion.