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India will celebrate its 77th Republic Day tomorrow with a grand parade at Kartavya Path in New Delhi, showcasing the country’s military strength, cultural diversity, and democratic values. President Droupadi Murmu will unfurl the national flag, followed by a 21-gun salute.

The ceremonial parade is expected to feature marching contingents of the armed forces, vibrant tableaux from states and Union Territories, and displays highlighting India’s indigenous defence capabilities. This year’s celebrations are set to reflect themes of self-reliance, unity, and national progress.

The President is also scheduled to address the nation, reiterating the core ideals enshrined in the Constitution justice, liberty, equality, and fraternity. Nationwide, schools, government institutions, and local communities will mark the occasion with flag-hoisting ceremonies and cultural programmes.

Observed annually on January 26, Republic Day commemorates the adoption of the Indian Constitution in 1950, symbolising India’s journey as a sovereign, democratic republic.

Short Summary

India will mark its 77th Republic Day tomorrow with a grand parade at Kartavya Path, celebrating constitutional values, cultural unity, and military strength across the nation.

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India’s Republic Day Parade, held annually on January 26, has long served as both a celebration of the nation’s democratic constitution and a diplomatic showcase. For the 77th Republic Day in 2026, New Delhi has invited two top leaders from the European Union as chief guests, underscoring the growing strategic and economic relationship between India and Europe.

European Commission President Ursula von der Leyen and European Council President António Costa are set to attend the Republic Day celebrations in New Delhi as chief guests from January 25 to January 27, 2026. Their joint presence is historic: this is the first time that top officials of the EU will attend the parade together, signalling India’s emphasis on strengthening ties with the bloc amid ongoing trade negotiations, including a potential India–EU Free Trade Agreement that could cover nearly 2 billion people and about 25% of global GDP.

The choice of chief guests each year often reflects India’s foreign policy priorities and evolving global partnerships. A chronological list of India’s Republic Day chief guests since 2015 illustrates this trend:

Republic Day Chief Guests (2015–2026)

2015: President Barack Obama – United States

2016: President François Hollande – France

2017: Crown Prince Mohammed bin Zayed Al Nahyan – United Arab Emirates

2018: ASEAN Leaders (ten heads of state/government) – ASEAN countries

2019: President Cyril Ramaphosa – South Africa

2020: President Jair Bolsonaro – Brazil

2021–22: No chief guest (due to the COVID-19 pandemic)

2023: President Abdel Fattah el-Sisi – Egypt

2024: President Emmanuel Macron – France

2025: President Prabowo Subianto – Indonesia

2026: Ursula von der Leyen (European Commission) and António Costa (European Council) – European Union

The pattern of invitations illustrates India’s global diplomatic reach: from major Western powers and neighbouring regions to Southeast Asia, Africa, Latin America and now the European Union as a bloc partner. Calling European leaders as chief guests at this year’s parade highlights India’s strategic intent to diversify partnerships, deepen economic cooperation, and strengthen multilateral engagement in a shifting global order.

Short Summary

For Republic Day 2026, India has invited European Commission President Ursula von der Leyen and European Council President António Costa as chief guests the first time EU leadership will appear together, reflecting deepening India–EU strategic and trade ties. A historical list of Republic Day chief guests since 2015 highlights India’s evolving diplomatic engagements.

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The United States has signalled a possible diplomatic pathway to remove the additional 25% tariffs imposed on India, following a sharp decline in Indian refinery purchases of Russian oil. The indication came from U.S. Treasury Secretary Scott Bessent during the World Economic Forum in Davos.

Speaking to Politico, Bessent said India’s imports of Russian crude by its refineries have “collapsed” after Washington imposed the tariff, calling the outcome a “huge success” for U.S. policy. While the tariffs remain in place for now, he suggested that conditions exist under which they could be lifted.

“We put a 25 per cent tariff on India for buying Russian oil, and the Indian purchases by their refineries of Russian oil have collapsed. So that is a success. The tariffs are still on. I would imagine there is a path to take them off,” Bessent said.

The remarks come amid heightened geopolitical tension over energy security, sanctions on Russia, and global trade realignments. India has repeatedly defended its energy strategy, stressing the need to ensure affordable fuel for its population of over 1.4 billion people.

New Delhi has also acknowledged a proposed bipartisan bill in the U.S. Congress that could impose duties of up to 500% on countries purchasing Russian oil. Reacting to the development, Ministry of External Affairs spokesperson Randhir Jaiswal said India is closely monitoring the situation.

Bessent further criticised European nations for purchasing refined petroleum products from India that originate from discounted Russian crude, accusing them of indirectly financing the war in Ukraine. He described Europe’s stance as “ironic,” arguing that while the EU avoided similar tariffs on India, it continues to buy refined products made from Russian oil.

The comments come as India and the European Union prepare for the 16th India-EU Summit in New Delhi, where a comprehensive strategic agenda and a long-pending Free Trade Agreement are expected to be finalised. European Commission President Ursula von der Leyen has described the FTA as “the mother of all deals,” potentially creating a market of nearly 2 billion people and covering about a quarter of global GDP.

As global trade faces disruption due to Washington’s tariff policies, India continues to balance strategic autonomy, energy security, and evolving partnerships with both the U.S. and the EU.

Short Summary

U.S. Treasury Secretary Scott Bessent has hinted at a possible removal of the 25% tariffs on India, saying Indian refinery purchases of Russian oil have sharply declined, calling the tariff policy a “huge success” while leaving room for diplomacy.

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The European Union is on the verge of concluding a landmark free trade agreement (FTA) with India, European Commission President Ursula von der Leyen announced on Tuesday (January 20, 2026), calling it “the mother of all deals” that could create a market encompassing nearly two billion people and about a quarter of global GDP.

Speaking at the World Economic Forum Annual Meeting in Davos, von der Leyen said negotiations are in their final stages and that Europe stands to gain a first-mover advantage with one of the world’s fastest-growing economies. “Right after Davos, I will travel to India. There is still work to do, but we are on the cusp of a historic trade agreement,” she said.

European Council President Antonio Costa and von der Leyen will visit India from January 25 to 27 to attend the Republic Day celebrations as chief guests and hold summit talks with Prime Minister Narendra Modi. The two sides are expected to formally announce the conclusion of FTA negotiations at the India-EU summit on January 27.

India is currently the EU’s largest trading partner, with bilateral trade in goods touching $135 billion in FY2023–24. The proposed agreement is expected to significantly boost trade flows, deepen supply-chain integration and open new opportunities across manufacturing, services, technology and green energy sectors.

Beyond trade, the summit is also likely to deliver major strategic outcomes. India and the EU are expected to unveil a defence and security framework, along with a comprehensive strategic vision for the 2026–2030 period. A proposed Security and Defence Partnership (SDP) would enhance defence interoperability and enable Indian firms to participate in the EU’s SAFE programme a €150 billion financial instrument aimed at strengthening European defence readiness.

Negotiations for a Security of Information Agreement (SOIA) are also expected to be launched, which would facilitate deeper industrial defence cooperation. The developments come amid global trade disruptions driven by Washington’s evolving tariff policies, which have affected both India and the 27-nation EU bloc.

India and the EU have been strategic partners since 2004. FTA talks were first launched in 2007 but were suspended in 2013 due to differences in ambition, before being relaunched in June 2022. If concluded, the deal would mark one of the most significant trade agreements for both sides in recent decades.

📌 Short Summary

The European Union is close to finalising a landmark free trade agreement with India, described by Ursula von der Leyen as “the mother of all deals.” Expected to be announced during the India-EU summit on January 27, the agreement aims to deepen trade, defence and strategic cooperation at a time of global trade uncertainty.

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Article

India’s latest Household Consumption Expenditure Survey (HCES) 2023–24 exposes a deeply uncomfortable reality: tobacco consumption is rising rapidly across the country, even as the state expands publicly funded healthcare. The surge is most pronounced among poorer households, creating a dangerous feedback loop of preventable disease and rising fiscal burden on welfare systems.

Adjusted for inflation, per capita tobacco spending rose 58% in rural India and 77% in urban areas over the past decade. The number of tobacco-consuming households has surged dramatically, with nearly 69% of rural and 46% of urban households now consuming tobacco products. Gutkha has emerged as the dominant driver, especially in rural India, where its consumption has increased nearly sixfold.

The impact is most severe among the poor. Over 70% of rural households in the bottom 40% income bracket consume tobacco, spending a higher share of their limited resources on addictive products than wealthier households. In several states, including Uttar Pradesh, Madhya Pradesh and Bihar, prevalence exceeds 85%.

This trend has serious implications for public health and public finances. Tobacco-related illnesses contribute to nearly 13 lakh deaths annually, while non-communicable diseases now account for 63% of all deaths in India. As schemes like Ayushman Bharat expand coverage and reduce out-of-pocket expenses, the long-term cost of tobacco-induced disease increasingly shifts to the state.

Despite this, tobacco contributes only 2.4% of gross tax revenue, and regulatory enforcement remains weak. Surrogate advertising and celebrity endorsements continue largely unchecked. The HCES data signals a clear policy alarm: without stronger taxation, regulation and prevention, India risks undermining its own welfare and human capital goals.

Short Summary

The HCES 2023–24 reveals a troubling paradox in India’s welfare trajectory: while publicly funded healthcare is expanding, tobacco consumption especially gutkha is rising sharply, particularly among poorer households. Tobacco use has spread widely across rural and urban India, imposing severe health risks and threatening the fiscal sustainability of welfare schemes like Ayushman Bharat. Without stronger taxation, regulation, and public health intervention, the state risks subsidising preventable disease while undermining human capital development.

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Apple Pay is reportedly preparing for its long-awaited entry into the Indian market, with the digital payments service expected to launch by the end of 2026, according to a report by Business Standard citing unnamed sources.

The service, which is currently available in 89 global markets, is said to be awaiting regulatory approval in India. Apple is reportedly in discussions with banks, regulators, and card networks to finalise the rollout framework.

In its initial phase, Apple Pay in India is expected to focus on card-based contactless payments rather than the Unified Payments Interface (UPI). The report notes that UPI integration may be introduced later due to more complex regulatory requirements. Apple is also said to be negotiating fee structures with card issuers and is unlikely to seek third-party application provider (TPAP) approval for UPI at the outset.

Once launched, Apple Pay is expected to support Tap to Pay on iPhone, allowing users to make NFC-based contactless payments at compatible point-of-sale terminals. The service can be used via iPhone and Apple Watch at retail stores, restaurants, fuel stations, and other locations displaying contactless payment symbols. It also supports in-app and online payments where Apple Pay is enabled.

The entry of Apple Pay is expected to intensify competition in India’s digital payments ecosystem. Apple’s rival Samsung already offers Samsung Wallet in the country, which supports contactless payments on compatible devices.

Globally, Apple Pay is supported by over 11,000 banks and network partners, including more than 20 local payment networks, according to Apple. If launched, Apple Pay would add another major international player to India’s rapidly evolving digital payments landscape.

Short Summary

Apple Pay is reportedly set to launch in India by the end of 2026, pending regulatory approval. The initial rollout is expected to focus on card-based contactless payments, with UPI integration likely at a later stage.

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IBSEA and World Environment Council

New Delhi: The International Business Startup and Entrepreneurs Association (IBSEA) and the World Environment Council (WEC) signed a Memorandum of Understanding (MoU) on National Startup Day in New Delhi, marking a step toward promoting green entrepreneurship and sustainability-led innovation in India.

The MoU was signed at Laghu Udyog Bharti, with the collaboration aligned to the national vision of Viksit Bharat 2047. The partnership aims to integrate environmental sustainability into the growth of startups and micro, small and medium enterprises (MSMEs), with a focus on expanding outreach in Tier II and Tier III cities.

IBSEA, a national-level organisation operating through 21 specialised councils, works to support entrepreneurs, startups and MSMEs across sectors. The association focuses on capacity building, policy engagement and enabling inclusive economic development. The initiative is led by Dr. Anshuman Singh, Chairman of IBSEA, who has been actively involved in promoting entrepreneurship and startup ecosystems across the country.

The World Environment Council, represented by its Founder and President Prof. Ganesh Channa, brings expertise in environmental conservation, climate action, sustainability education and global environmental advocacy. Under the MoU, IBSEA and WEC will jointly promote green startups, sustainability-driven business models, ESG awareness, and entrepreneurship training programmes.

Addressing the gathering, Prof. Channa outlined WEC’s initiatives and stressed the role of startups in addressing environmental challenges. He highlighted the importance of responsible innovation, climate-conscious enterprises and youth-led sustainability initiatives in building a resilient economy.

The event was attended by entrepreneurs, industry representatives and stakeholders, including Dr. Ruhi Banergee and PVR Murthy, who have been associated with startup development and sustainability-focused initiatives.

According to both organisations, the collaboration will also encourage policy dialogue and awareness programmes aimed at aligning business growth with environmental responsibility. The partnership seeks to position startups as key contributors to India’s long-term development goals while supporting ecological stewardship.

The MoU reflects a broader effort to link entrepreneurship with sustainability as India moves toward its 2047 development vision.

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Maharashtra Municipal Elections

Polling for the Maharashtra municipal corporation elections concluded on Thursday, with the State Election Commission (SEC) releasing final voter turnout figures on Friday. Elections were held across 29 municipal corporations, recording an overall voter turnout of 54.77%, according to official data.

The SEC stated that Ichalkaranji registered the highest voter participation at 69.76%, while Mira Bhayandar reported the lowest turnout at 48.64%, highlighting variations in civic engagement across urban centres.

Among the major municipal corporations, Mumbai recorded a voter turnout of 52.94%, followed by Thane (55.59%), Nashik (56.67%), Pune (52.42%), and Nagpur (51.38%). Polling concluded peacefully across all corporations, with vote counting currently underway.

Turnout Across Municipal Corporations

According to the SEC, several mid-sized and smaller municipal corporations reported comparatively higher participation. Parbhani recorded a turnout of 65.99%, Kolhapur 66.53%, Ahilyanagar 64.67%, and Malegaon 64.08%. Other notable figures included Nanded-Waghala (61.37%), Jalna (61.16%), Sangli-Miraj-Kupwad (61.03%), and Latur (60.08%).

Turnout in urban industrial and suburban regions remained moderate. Pimpri-Chinchwad recorded 57.71%, Navi Mumbai 57.15%, Vasai-Virar 57.12%, and Panvel 55.67%. Civic bodies such as Ulhasnagar (52.10%), Bhiwandi-Nizampur (53.43%), and Solapur (53.02%) remained close to the state average.

Election officials noted that polling arrangements were completed without major disruptions, and security arrangements were in place across sensitive areas.

BJP Leads in Brihanmumbai Municipal Corporation

Meanwhile, early results and trends released by the Brihanmumbai Municipal Corporation (BMC) indicate that the Bharatiya Janata Party (BJP) has emerged as the single largest party so far, leading in 72 seats.

The Shiv Sena (Uddhav Balasaheb Thackeray faction) is currently ahead in 60 seats, while the Shiv Sena led by Chief Minister Eknath Shinde is leading in 25 seats. The Indian National Congress has secured 19 seats.

Other parties have also made their presence felt. The All India Majlis-e-Ittehadul Muslimeen (AIMIM) has won 7 seats, followed by the Maharashtra Navnirman Sena (MNS) with 5 seats. The Nationalist Congress Party (NCP) has won 2 seats, while the NCP–Sharad Pawar faction has secured 1 seat. The Samajwadi Party has won 2 seats, with the remaining wards going to independents and smaller parties.

AIMIM’s performance was concentrated in eastern Mumbai, with five seats in Govandi and one seat in Chittanagar, according to BMC data.

Ward-wise Winners Announced

The BMC has officially released the list of winners for several wards. BJP candidates secured victories in wards including Ward 2 (Tejashvi Goshalkar), Ward 3 (Prakash Derekar), Ward 4 (Mangesh Pangare), Ward 9 (Shivanan Shetty), Ward 10 (Jitendra Patel), and Ward 23 (Shivkumar Jha), among others.

The Shiv Sena (UBT) won seats such as Ward 1 (Rekha Yadav), Ward 32 (Geeta Bhandari), Ward 53 (Jitender Valvi), and Ward 187 (Joseph Koli). Congress candidates were declared winners in Ward 33 (Kamarjha Siddique), Ward 90 (Tulip Miranda), Ward 183 (Asha Kale), and Ward 184 (Babbu Khan).

The MNS won Ward 38, while the Shiv Sena (Shinde faction) secured Ward 51.

Unopposed Candidates

Earlier, the SEC announced that 65 candidates were elected unopposed across 10 civic bodies in the state. Most of these candidates belonged to the BJP and the Shiv Sena led by Eknath Shinde. The declaration followed a review of official reports submitted by municipal commissioners.

Counting of votes continues across several municipal corporations, and final results are expected to be declared after the completion of all counting rounds.

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Makar Sankranti 2026

Makar Sankranti, also known as Uttarayana, Makara Sankranti, or simply Sankranti, is one of India’s most vibrant and auspicious festivals. Celebrated every year with immense joy and devotion, it marks the Sun’s transition into Capricorn (Makar Rashi), symbolizing the end of winter and the beginning of longer, warmer days.

In 2026, Makar Sankranti brings with it renewed hope, prosperity, and positivity, as farmers welcome a new agricultural season and families come together to celebrate abundance, gratitude, and unity.

Unlike many Indian festivals that follow the lunar calendar, Makar Sankranti is based on the solar cycle, making it one of the most consistent festivals, usually celebrated on January 14 or 15. This sacred transition of the Sun into the northern hemisphere, known as Uttarayana, is considered highly auspicious in Hindu tradition. It represents:

  • The victory of light over darkness
  • Knowledge over ignorance
  • Positivity over negativity
  • New beginnings and spiritual awakening
  • How Makar Sankranti Is Celebrated Across India
  • Makar Sankranti is celebrated in diverse ways across different regions:
  • Pongal in Tamil Nadu 🌾
  • Lohri in Punjab 🔥
  • Uttarayan in Gujarat with colorful kite flying 🪁
  • Magh Bihu in Assam 🌾
  • Khichdi Parv in Uttar Pradesh

Despite regional differences, the essence remains the same gratitude for nature, harvest, and life’s blessings.

Traditions and Rituals

  • Kite Flying: Filling the sky with vibrant colors, symbolizing freedom and joy
  • Holy Dips: Taking ritual baths in sacred rivers like the Ganga
  • Sesame & Jaggery Sweets: Tilgul, laddoos, chikkis signifying warmth, unity, and sweetness in relationships
  • Charity & Sharing: Donating food, clothes, and essentials to the needy

Why Sesame (Til) and Jaggery Are Important

The phrase “Til-gul ghya, god-god bola” beautifully captures the spirit of the festival take sweets and speak sweet words.

Sesame provides warmth during winter, while jaggery symbolizes sweetness, harmony, and goodwill.

Meaningful Makar Sankranti Wishes 2026

  • May this Makar Sankranti 2026 bring lasting peace, good health, and prosperity to your home, and may every new sunrise fill your life with hope and happiness.
  • As the Sun enters Makar Rashi, may your life move toward success, clarity, and positive growth in every direction. Happy Makar Sankranti!
  • May the warmth of the Sun God bless you with strength, wisdom, and the courage to overcome every challenge in the year ahead.
  • On this auspicious day of Uttarayana, may all negativity fade away and your life be filled with joy, harmony, and new opportunities.
  • May your hard work yield abundant results, just like a rich harvest, and may your days ahead be bright and fulfilling.
  • As kites rise high in the sky, may your dreams soar higher and your efforts lead you to great success. Wishing you a joyful Makar Sankranti 2026.
  • May sweetness of til and jaggery strengthen your relationships and fill your life with kindness, love, and understanding.
  • May this festival mark a fresh beginning, bringing stability to your career, happiness to your family, and peace to your heart.
  • With the Sun’s northward journey, may your life move toward prosperity, good fortune, and spiritual growth.
  • May Makar Sankranti bless you with good health, steady progress, and the fulfillment of your dreams throughout the year.
  • Wishing you and your loved ones a Makar Sankranti filled with laughter, togetherness, delicious sweets, and unforgettable memories.
  • May this sacred festival bring your family closer and your home overflow with warmth, respect, and happiness.
  • May every moment of Makar Sankranti strengthen bonds, spread smiles, and create beautiful memories with those you cherish.
  • May this Makar Sankranti inspire new goals, steady growth, and continued success in your professional journey.
  • Wishing you prosperity, progress, and positive outcomes in all your endeavors this Makar Sankranti 2026.
  • May this Makar Sankranti bring clarity, confidence, and consistent success into your life.
  • Wishing you a joyful Makar Sankranti filled with peace, purpose, and prosperity.
  • May the blessings of the Sun God guide you toward happiness and fulfillment this year.

Let this Makar Sankranti 2026 be a turning point where hope rises higher, efforts turn fruitful, and life moves toward lasting happiness. Happy Makar Sankranti!

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Equity Markets

Indian equity markets delivered a confident performance in the first trading week of 2026, ending January 2 at record closing levels after weeks of consolidation. A mix of improving earnings expectations, optimism around the upcoming Union Budget, and sector-specific tailwinds helped indices move higher, while broader markets also showed steady participation.

After trading in a narrow range through most of December, investors appeared more willing to take positions, encouraged by early signals of resilient domestic demand and stable macroeconomic conditions.

One of the key factors supporting the rally was anticipation around December quarter (Q3FY26) earnings. Market participants expect corporate results to reflect steady consumption trends, improving margins in select sectors, and continued credit growth.

At the same time, expectations that the Union Budget may include measures to support growth, infrastructure spending, and manufacturing added to the positive undertone. Together, these factors helped lift sentiment across both frontline and broader indices.

Sector-wise, the auto space stood out, supported by encouraging December sales data that pointed to sustained demand across passenger and commercial segments. PSU banks also remained in focus as improving asset quality and expectations of faster credit expansion attracted buying interest.

The utilities segment gained traction on hopes of rising power demand and increased industrial activity. In contrast, FMCG stocks faced pressure, largely due to selling in ITC, which weighed on the otherwise stable defensive pack.

Broader markets outperformed benchmark indices during the week, with midcap stocks showing stronger momentum than large caps. Smallcaps also posted gains, though at a more measured pace.

Meanwhile, precious metals witnessed sharp profit booking. Gold futures fell nearly five percent during the week, while silver declined around 1.5 percent, reflecting shifting risk appetite and positioning after recent gains.

Weekly Market Performance Snapshot

By the close of the week, the Nifty 50 had gained 286 points, rising 1.1 percent to end at 26,329. The BSE Sensex advanced 721 points, or 0.85 percent, to settle at 85,762.

Among broader indices, the Nifty Midcap 100 climbed 1.74 percent, while the Nifty Smallcap 100 added 0.77 percent, underlining improving participation beyond frontline stocks.

What to Watch in the Coming Week

Looking ahead to the week beginning January 5, markets are expected to trade in a range with a positive bias. Investors will closely track provisional quarterly business updates and early earnings-related commentary.

Global cues may introduce some near-term volatility, particularly around geopolitical developments involving the US and Venezuela. Additionally, key global data points such as US payroll numbers, unemployment figures, services PMI, and inflation data from China could influence market direction. Movements in crude oil and precious metals prices will also remain on the radar.

While near-term fluctuations cannot be ruled out, the broader market tone remains constructive. Strong domestic fundamentals, improving sectoral trends, and expectations of policy support continue to provide a stable base for equities as the new year unfolds.

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