Highlights: New Parliament session begins, Women’s bill introduced, India-Canada trade dispute escalates, and other significant news.

Symbol of new beginning: A look at PM Modi’s address in old and new Parliament buildings

The Indian Parliament moved into a swanky new complex on Tuesday with Prime Minister Narendra Modi addressing lawmakers from both Houses. The new Parliament building is seen as a symbol of a new beginning for India’s democracy. It is equipped with modern facilities and state-of-the-art technology to enable efficient legislative proceedings. The old Parliament building, on the other hand, holds historical significance and will be preserved as a heritage site. PM Modi’s address highlighted the importance of democracy and the role of lawmakers in shaping the nation’s future.

Women’s Reservation Bill: ‘Stalled for over three decades,’ leaders hail passage of bill, demand swift implementation

The Parliament passed the Women’s Reservation Bill, which mandates a 33 per cent reservation for women in both the Lok Sabha (House of the People) and state assemblies. The bill aims to empower women and increase their representation in decision-making bodies. Leaders across party lines hailed the passage of the bill, emphasizing the need for swift implementation. The bill is seen as a significant step towards achieving gender equality and promoting women’s participation in politics.

TotalEnergies to invest $300 million in JV with Adani Green Energy

French oil major TotalEnergies will invest $300 million to form a joint venture (JV) with Adani Green Energy. The JV aims to develop renewable energy projects, including solar and wind power. The partnership will have a capacity to generate 1,050 megawatts of power, contributing to India’s clean energy goals. This investment highlights the growing interest of international companies in India’s renewable energy sector and the country’s potential as a renewable energy hub.

Micron’s top supplier Simmtech gets approval for set up unit in Sanand

The top supplier to US chipmaker Micron Technology, Inc., Simmtech, has received approval to set up a unit in Sanand, Gujarat. The unit will be located close to Micron’s facility, facilitating efficient supply chain operations. This development is expected to boost the electronics manufacturing sector in India and attract more investments from global semiconductor companies. It also aligns with the government’s vision of making India a global manufacturing hub.

FPIs offload ₹10,164 crore in Indian equities this month

Foreign portfolio investors (FPIs) have continued to be net sellers in the Indian equities market this month. The selling pressure can be attributed to rising US bond yields and a stronger dollar. FPIs have offloaded ₹10,164 crore worth of Indian equities as of September 22. While this trend may cause short-term volatility, it presents an opportunity for domestic investors to enter the market at attractive valuations.

Varanasi cricket stadium: Sachin Tendulkar joins PM Modi

Cricket legend Sachin Tendulkar joined Prime Minister Narendra Modi and Chief Minister Yogi Adityanath in the stone laying ceremony of an international cricket stadium in Varanasi, Uttar Pradesh. The stadium, located in PM Modi’s Lok Sabha constituency, aims to provide world-class sports facilities and promote the development of cricket in the region. This initiative reflects the government’s focus on sports infrastructure and nurturing sporting talent in India.

India-Canada ties in turmoil as rift grows

Bilateral ties between India and Canada have been strained following Canadian Prime Minister Justin Trudeau’s remarks on a “potential link” between Indian government agents and the killing of Khalistani leader Hardeep Singh Nijjar. India has dismissed these claims as “absurd and motivated.” The two countries have also carried out expulsions of senior diplomats in a tit-for-tat response. This rift highlights the challenges in maintaining diplomatic relations and the need for open dialogue to resolve differences.

Indian economy to grow at 6.5% real GDP for FY24: Finance Ministry

The Union Ministry of Finance has projected a 6.5 percent real GDP growth for India in FY24. Despite the challenges posed by the pandemic, the economy is expected to recover and regain momentum. The government remains confident in the country’s economic prospects and is focused on implementing policies to support growth. The projection provides optimism for businesses and investors, signaling a positive outlook for the Indian economy.

India’s forex reserves near 4-month low; declines $867 million to $593.037 billion: RBI Data

India’s foreign exchange (forex) reserves have fallen for the second consecutive week, reaching a near four-month low of $593.037 billion as of September 15. The decline amounts to $867 million from the previous week. The decrease in forex reserves can be attributed to various factors, including the country’s import payments and foreign exchange market dynamics. The Reserve Bank of India continues to closely monitor the forex reserves and take necessary measures to maintain stability in the currency market.

Updated: 24 Sep 2023, 08:38 AM IST