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Friday,20-June-2025

Business

India to remain fastest-growing economy, trade talks with US on track: Piyush Goyal

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New Delhi, May 30: India is an attractive investment destination and has the potential to remain the fastest-growing large economy in the world for the next 30 years, Union Minister for Commerce and Industry, Piyush Goyal, has said.

Goyal said the country has maintained sustained growth of 6–7 per cent and hopes to push it to 8 per cent at constant prices.

Speaking at the CII ‘Annual Business Summit 2025’ here, the minister said that even amid international upheavals, “we are among the better-performing emerging markets”.

“Today, India holds the 4th largest foreign exchange reserves in the world at about $690 billion. Our inflation has remained below 4 per cent for the last three months. The Reserve Bank has done a commendable job balancing liquidity and currency management,” he told the gathering.

Goyal highlighted India as an attractive investment destination. “Over the past 20–25 years, Indian companies have delivered nearly 20 per cent CAGR returns, making India a compulsive investment destination. FDI inflows are consistently breaking records. We are back on track on the growth trajectory, working through international trading relations,” he added.

The minister cited progress on various Free Trade Agreements (FTAs), including those with the UAE, Australia, the UK, the four EFTA countries (Iceland, Liechtenstein, Norway, and Switzerland), and the ongoing bilateral trade agreement negotiations with the US.

“We are well on track with our bilateral trade agreement with the USA and making fast progress with the European Union’s 27-nation bloc. We have also launched negotiations with New Zealand,” he stated.

The EFTA countries have committed $100 billion in foreign direct investment (FDI) to India over the next 15 years. This is expected to crystallise into a total investment of $500 billion.

Furthermore, the large ecosystem that will be created around this investment has the potential to attract an additional $500 billion. “We are not aiming small,” said Goyal, emphasising that this figure does not include investments from the Norwegian Pension Fund and represents pure FDI.

He further highlighted that this is the first Free Trade Agreement (FTA) in the world to include such a forward-looking investment clause.

Goyal expressed pride at India’s continued economic progress and stated that the IMF has projected that by 2027, India will be the world’s third largest GDP. He added that despite global volatility, uncertainty and complexity, India remains the fastest-growing economy and continues to power global growth through growth in India.

The minister underlined that growth through trade, resilient supply chains and innovation would remain incomplete without inclusive growth.

Crime

Delhi: Three thieves arrested, six stolen phones recovered

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crime

New Delhi, June 20: Three thieves were arrested and six stolen mobile phones were recovered along with a dummy pistol and a scooter used in multiple crimes by the Tilak Marg Police in Delhi, an official said on Friday.

The accused have been identified as Arbaz (22) of Sarai Kale Khan, Pankaj Mourya (22) of Jungpura, and Rahul Bagh (26) of Chirag Delhi.

“Six stolen mobile phones, one dummy pistol and a scooter used in the crime were recovered from the accused,” said Delhi Police in a statement.

The official said that the arrested accused had been selling stolen mobile phones on e-commerce platforms using fake Aadhaar cards and forged invoices.

The breakthrough in the case came after a complaint was filed by a Blinkit delivery boy, who reported the theft of his mobile phone, stating that it was stolen while he was delivering an order on Pandara Road.

The accused had tricked him by pretending to make an online payment before fleeing with his mobile phone. An E-FIR (No. 80056549/2025) was registered under Section 303(2) BNS at PS Tilak Marg on June 13, 2025.

A special team led by SI Kamlesh Kumar, along with HC Sanjeet Kumar, Ct. Jhabbar Mal and Ct. Ram Tyagi worked under the supervision of SHO Gurmail Singh and ACP Nageen Kaushik to crack the case.

CCTV footage from the area showed the culprits fleeing on a scooter. Order details from Blinkit and further analysis of internet logs helped police trace one suspect to Sarai Kale Khan. However, he vacated the premises a month ago.

Using technical surveillance and informants, police eventually tracked the trio to a rented house in Chhatarpur.

So far, three E-FIRs from Tilak Marg, Kalkaji, and Vasant Kunj South, and one lost report from Sunlight Colony, have been worked out with these arrests.

The official said that further investigation is underway to uncover the full extent of the racket and recover additional stolen items.

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International

Russia shot down over 61 Ukrainian drones overnight

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Moscow, June 20: The Russian Defence Ministry on Friday stated that its air defences shot down 61 Ukrainian Unmanned Aerial Vehicles (UAVs) over several Russian regions overnight.

“On-duty air defences intercepted and destroyed 61 Ukrainian fixed-wing unmanned aerial vehicles between 8 pm and 7 am. Moscow time, 22 over the Oryol Region, 14 over the Kursk Region, seven over the Belgorod Region, five over the Voronezh Region, three over the Volgograd Region, three over the Rostov Region, three over the Tula Region, three over the Bryansk Region and one over the Moscow Region,” read the statement.

The Voronezh Region Governor, Alexander Gusev mentioned on Telegram that the drones had been destroyed over the city of Voronezh and on the region’s border, adding that there were no casualties or damage as per the preliminary reports.

Bryansk Region Governor Alexander Bogomaz stated that there were no casualties or damage in the region. “Response teams are working on the ground,” Bogomaz wrote on Telegram.

Meanwhile, in an interview with British media outlet Sky News, Kremlin Spokesman Dmitry Peskov said that Russia has no plans to lose its strategic advantage over Ukraine by agreeing to a ceasefire.

“Now we have a strategic advantage. Why should we lose it? We are not going to lose it. We are going further. We’re advancing and we’ll continue to advance,” he stated.

Russia has repeatedly stated that it will only agree to a ceasefire if Kyiv stops receiving foreign military aid, as any pause in hostilities would allow Ukraine to rearm and regroup its forces.

Stressing that Russia would not take advantage of a potential ceasefire, Peskov said, “A ceasefire is a ceasefire, and you stop.”

Russian President Vladimir Putin said on Thursday that he was ready to meet with Ukrainian President Volodymyr Zelensky in a “final phase” of negotiations, but again questioned his Ukrainian counterpart’s legitimacy.

“I am even ready to meet him (Zelensky) but only if it is some kind of final phase,” he said at a press conference with foreign media in St. Petersburg.

Russia wants to end the war in Ukraine “as soon as possible,” preferably through peaceful means, and is ready to continue negotiations, provided that Kyiv and its Western allies are willing to engage, Putin added.

He also added that he is ready to meet with Zelensky and “Russia does not care who represents Ukraine in negotiations, but insists that any final agreement must bear the signature of legitimate authorities”.

Russian and Ukrainian negotiators are prepared to resume direct talks after June 22, Putin said.

“I am ready to meet with anyone, including Zelensky,” the Russian leader said. “That is not the issue. If Ukraine entrusts him to negotiate, let it be Zelensky. The real question is: who will sign any resulting documents? We are not dealing with propaganda here; when it comes to serious matters, what matters is not political messaging but legal legitimacy,” he added.

Putin also said that if no peaceful resolution is reached, Russia will pursue its objectives in Ukraine by military means.

“Undoubtedly, if we fail to reach an agreement through peaceful negotiations, we will achieve our goals by military means,” he added.

He reiterated that the aim of Russia’s special military operation is the demilitarisation of Ukraine, depriving it of the capacity to maintain military forces that could endanger Russia.

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National

Mumbaikars want only Mahayuti flag to fly over Mumbai: Maha Minister

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Mumbai, June 20: Maharashtra BJP chief and state Revenue Minister Chandrashekhar Bawankule slammed Shiv Sena(UBT) chief Uddhav Thackeray, saying that Mumbaikars want only the BJP-Mahayuti flag to fly over Mumbai and in the upcoming BMC elections, they will seal it with their verdict.

In sharp response to Thackeray’s outburst against the BJP and the Mahayuti at a rally on Thursday on the occasion of the party’s anniversary, Bawankule said that his speech was nothing but the “frustration of someone spewing helplessness out of fear of defeat”.

“When public support wanes, the shouting increases. That’s exactly what he did. While claiming “Shiv Sena hasn’t ended”, you’ve not only lost the ‘Sena’ yourself, but by abandoning the two pillars of ‘Shiv’ and ‘Hindutva’, Uddhavji, you’ve bowed at Sonia’s feet. It’s easy to make personal allegations against respected Modiji, Amitbhai, and Devendraji, but when these leaders were touring across the country and state, Uddhavji was delivering online speeches from Matoshree. The people of Maharashtra have seen this,” said Bawankule.

“Those who say ‘Mumbai is ours’ should first explain what they’ve done for the Marathi people in Mumbai. Even when in power at the municipal corporation, did they do anything for the slums, water schemes, education, or healthcare?” the minister asked, referring to Thackeray-led Shiv Sena’s inaction during its over two-decade rule in the BrihanMumbai Municipal Corporation.

“Mumbaikars know that the Coastal Road, Metro, Cluster Redevelopment, and Slum Rehabilitation schemes happened because of Devendraji’s initiatives. Keep shouting that Mumbai is yours, but if development, safety, and dignity are desired, Mumbaikars want only the BJP-Mahayuti flag to fly over Mumbai,” he claimed.

He took a dig at Thackeray, saying, “Uddhavji, keep spewing venom like this, keep mocking and taunting. Your future life will be spent in this. Public service and welfare require passion in the heart, which you lack. The people of Maharashtra have already realised this. Now, in the upcoming elections, the public will seal it with their verdict.”

Thackeray in his speech on Thursday targeted the BJP and alleged that it was trying to prevent the Marathi Manoos from coming together in Mumbai. He accused the BJP of imposing Hindi in schools for Classes 1 to 5. He also took a swipe at the prime minister, saying the “country needs a prime minister, and Modi was just the BJP’s PM”.

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