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‘Can a dead economy grow at 8.2%?’: FM Sitharaman rebuts Trump remark in Lok Sabha; cites IMF ratings upgrade – The Times of India

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‘Can a dead economy grow at 8.2%?’: FM Sitharaman rebuts Trump remark in Lok Sabha;  cites IMF ratings upgrade – The Times of India


Finance Minister Nirmala Sitharaman on Monday cited India’s strong growth and sovereign rating upgrades to counter claims that the country was a “dead economy”, telling the Lok Sabha that such upgrades would not have been possible if the economy were weak, PTI reported.Responding to Opposition members who sought the government’s reaction to US President Donald Trump’s description of India as a “dead economy”, Sitharaman said India remains the fastest-growing major economy, recording 8.2% growth in the September quarter.“The economy in the last 10 years has transitioned from external vulnerability to external resilience,” the minister said while replying to the Supplementary Demands for Grants for 2025-26 in the House.“Every institution is raising our growth outlook for this year and the forthcoming year. There are clear expressions (from the IMF) recognising India’s growth and no dead economy gets a credit rating upgrade by DBRS, S&P and R&I,” Sitharaman said.Trump had made the “dead economy” remark in July while expressing disappointment with India’s decision to continue buying oil from Russia. Sitharaman said data and assessments by global institutions contradicted that characterisation.“The economy today has moved from fragility to fortitude,” she said.“So somebody said something somewhere, however important that somebody is, we should not depend on that but rely on data available within the country and also data coming from elsewhere. Rely on data,” she told Opposition members.“Can a dead economy grow at 8.2%? Can a dead economy get credit rating upgrades?” Sitharaman asked.The Reserve Bank of India last week raised its GDP growth projection for FY26 to 7.3% from 6.8% earlier. India grew 8.2% in the September quarter and 7.8% in the June quarter.On concerns raised over the International Monetary Fund’s assessment of India’s national accounts — including Gross Domestic Product (GDP) and Gross Value Added (GVA) — Sitharaman said India’s overall grading remains unchanged at the median rating of ‘B’.She said the IMF had flagged the outdated base year for national accounts and suggested rebasing. “So to say that there has been a downgrade by IMF is misleading the House. For this year, IMF gave B for overall statistics,” she said, adding that India has remained the fastest-growing major economy for the fourth consecutive year despite the pandemic.Sitharaman also addressed concerns over public debt, saying India’s debt-to-GDP ratio rose to 61.4% after Covid but was brought down to 57.1% by 2023-24 due to policy measures taken by the central government.“By this year-end, I expect it to come down to 56.1%,” the finance minister said.



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He Started In A Garage, Built An Indian IT Empire, And Now Donates Rs 7 Crore Daily

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He Started In A Garage, Built An Indian IT Empire, And Now Donates Rs 7 Crore Daily


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From a modest garage to a IT powerhouse, his journey reshaped India’s tech dreams. But what truly sets him apart is how quietly his wealth flows back into society every single day

Shiv Nadar founded HCL in a garage in 1976, growing it into a global IT giant. (Photo Credit: Shiv Nadar Foundation)

Success Story: One name stands out whenever India’s IT success stories are told: Shiv Nadar. What began in a modest garage in 1976 went on to become Hindustan Computers Limited (HCL), one of India’s leading global IT companies.

Today, Shiv Nadar is not only a celebrated entrepreneur but also one of the country’s most generous philanthropists, donating nearly Rs 7.4 crore every day.

From A Small Garage: The Birth Of HCL

Shiv Nadar was born on July 14, 1945, in the Tiruchirappalli district of Tamil Nadu. After completing his engineering education, he joined the DCM Group. During his time there, discussions with colleagues about the future of computers and electronics in India sparked a bold idea, that is, to start something of their own.

In 1976, Shiv Nadar and a small group of engineers founded HCL from a garage in Delhi. Initially, the company focused on computer hardware and electronic products, with a clear aim: to bring computer technology to India and create employment opportunities for young professionals.

Challenges On The Road To Success

The early years were far from easy. HCL faced financial constraints, technical hurdles, and intense market competition. However, Shiv Nadar’s long-term vision and commitment to innovation kept the company moving forward. He firmly believed that technology should simplify lives and drive progress for everyone.

During the 1980s and 1990s, HCL diversified from hardware manufacturing into software development and IT services. The company steadily expanded beyond India, establishing operations across the US, Europe, and Asia.

Today, HCL Technologies operates in nearly 60 countries and employs more than 2,22,000 people. It is a major player in areas such as cloud computing, cyber security, digital transformation, and enterprise software solutions.

Passing The Baton To Roshni Nadar Malhotra

After leading HCL for over four decades, Shiv Nadar stepped down as chairman in 2020. He appointed his daughter, Roshni Nadar Malhotra, as the new chairman, making her the first woman to hold the position in the company’s history.

Shiv Nadar now serves as Chairman Emeritus and Strategic Advisor.

According to the Bloomberg Billionaires Index, Shiv Nadar’s net worth stands at $38.2 billion (approx. Rs 3.17 lakh crore), placing him among the world’s richest individuals at 54th position globally. As of now, HCL’s market capitalisation is Rs 4,49,369 crore.

Commitment To Social Service and Philanthropy

Shiv Nadar’s legacy extends far beyond business. Through the Shiv Nadar Foundation, he has made significant contributions to education by establishing schools and universities across India.

As per the ‘EdelGive-Hurun Philanthropy List 2025’, Shiv Nadar and his family topped the list of India’s biggest philanthropists for the fourth time in five years. In the past year alone, the family donated Rs 2,708 crore, averaging Rs 7.4 crore every day. In recognition of his contribution to the IT sector and his vision for empowering India’s youth, Shiv Nadar was awarded the Padma Bhushan in 2008. Today, HCL symbolises India’s technological strength on the global stage.

Shiv Nadar’s journey proves that extraordinary success can begin with the smallest of steps. From a single garage to a global IT empire, his story remains one of vision, perseverance, and purpose.

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Misty Winter Mornings Slow Flights Across North and East India: IndiGo Urges Passengers To Plan Ahead

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Misty Winter Mornings Slow Flights Across North and East India: IndiGo Urges Passengers To Plan Ahead


New Delhi: IndiGo has issued a travel advisory for Wednesday (December 17) morning as thick winter mist and dense fog are expected to blanket parts of North and East India, leading to reduced visibility and slower flight movements.

In a post shared on X, the airline said, “As the morning approaches under misty winter skies, fog is predicted across parts of North and East India, which may lead to reduced visibility and a slower pace of flight movements during the early hours. In the interest of safety, some flights may experience delays or adjustments.”

The airline emphasised that it is taking proactive steps to ensure passenger safety. “Our teams across airports are fully prepared and working in close coordination to manage schedules smoothly, assist customers and maintain a steady flow of operations,” the post added.

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Passengers are being urged to plan ahead, allowing extra travel time to reach the airport and to check the latest flight status through IndiGo’s website or mobile app.

“Foggy conditions may also impact road traffic, with slower movement and longer travel times expected while commuting to the airport. Customers travelling early are advised to plan with additional buffer time and check the latest flight status on our website or app before leaving home,” the advisory stated.

IndiGo also expressed gratitude to passengers for their patience. “Thank you for your patience and continued trust as we work steadily through the early hours, with visibility expected to improve as the day progresses,” the airline added.

The advisory coincides with similar warnings from the Indira Gandhi International (IGI) Airport in Delhi. On Tuesday (December 17) morning, the IGI Airport issued a fog advisory, cautioning that departures and arrivals might face disruptions due to low visibility. Around 6:06 am, Delhi Airport reported that flight operations were “steadily recovering” but warned that some delays could persist.

The airport urged passengers to remain in touch with their respective airlines for the most accurate schedule updates. “We appreciate your cooperation and understanding,” the airport said, adding that ground staff and personnel have been deployed across terminals to assist travellers.

The situation is further complicated by Delhi’s deteriorating air quality. According to data from the Central Pollution Control Board (CPCB), the city’s overall Air Quality Index (AQI) was recorded at 378 around 8 am on Tuesday, placing it in the “very poor” category.

The combination of dense fog and heavy pollution has reduced visibility in the early morning hours, disrupting air traffic and prompting repeated advisories from both airlines and airport authorities. Passengers are being urged to remain vigilant and plan their journeys with extra time, as conditions are expected to improve gradually as the day progresses.



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Azerbaijan open to investing $2b | The Express Tribune

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Azerbaijan open to investing b | The Express Tribune


Finance Minister Muhammad Aurangzeb is interviewed during the G20 Finance Ministers and Central Bank Governors’ Meeting at the IMF and World Bank’s 2024 annual Spring Meetings in Washington. PHOTO: REUTERS


ISLAMABAD:

Federal Minister for Finance and Revenue Senator Muhammad Aurangzeb on Tuesday said Pakistan and Azerbaijan were working to translate their strong relations into tangible trade and investment outcomes, with Azerbaijan expressing an appetite to invest close to $2 billion in Pakistan.

In an interview with Report, the minister said bilateral relations, particularly with Azerbaijan, had grown stronger since the current government assumed office, with frequent high-level engagements including visits by Prime Minister Muhammad Shehbaz Sharif and Pakistan’s participation during the COP29 timeframe in Baku.

He said the focus was now on enhancing trade and investment flows, adding that energy, oil and gas, as well as minerals and mining, had emerged as key sectors for potential joint projects. “These are clear areas of focus as we move forward,” he remarked.

Providing details on the proposed investment package, Aurangzeb said discussions were underway with Azerbaijan’s state oil company SOCAR, which was exploring the possibility of investing in an oil pipeline project in Pakistan. He termed the talks as being at an early stage but expressed hope that it could be among the first projects to materialise.

Commenting on Azerbaijan’s readiness to provide a further $1 billion loan to Pakistan, the finance minister said the financing could take multiple forms, including placements with the State Bank of Pakistan or support for Azerbaijani investors operating in Pakistan. He said the current bilateral trade of less than $50 million did not reflect the true potential, and efforts were underway to identify priority sectors to make trade flows more meaningful.



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