Modi govt slams global ranking firms as India ranks lower than Pak, Afghan in Press Freedom

News Network
May 27, 2023

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The Bharatiya Janta Party-led government of India plans to push back against the country rankings produced by global agencies on topics like governance and press freedom, a key advisor to Indian Prime Minister Narendra Modi was quoted as saying by news agencies.

Sanjeev Sanyal, a member of Modi's Economic Advisory Council, said India has begun to raise this issue at global forums. He said the indices were being compiled by a "tiny group of think tanks in the North Atlantic," sponsored by three or four funding agencies that are "driving a real-world agenda."

"It is not just narrative building in some diffused way. This has clear direct impact on trade, investment and other activities," Sanyal said.

India ranked lower than Afghanistan and Pakistan in the new World Press Freedom Index released by Reporters Without Borders. It was below Pakistan and Bhutan in an academic freedom index by V-Dem Institute.

Over the past year, Indian government has in various meetings pointed out the flaws in methods used to compile global indices used by institutions like the World Bank, World Economic Forum (WEF) and the United Nations Development Programme (UNDP), Sanyal said.

The "World Bank is involved in this discussion because it takes these opinions from these think tanks and effectively sanctifies it by putting it into something called the world governance index," Sanyal said.

The World Bank, WEF, Reporters Without Borders and V-DEM Institute did not immediately respond to requests for comment. UNDP said it would respond shortly.

Sanyal said the ratings also get hard-wired into decision-making through environmental, social and governance (ESG) norms and sovereign ratings. Multilateral development banks offer subsidised loans to ESG-compliant projects.

"The idea of having some ESG norms is not the problem in itself. The problem relates to how these norms are defined and who certifies or measures compliance to these norms," he said. "As things are currently evolving, developing countries have been completely left out of the conversation."

The matter is being taken up by the Cabinet Secretariat, which has held more than a dozen meetings on the issue this year, a government official said. The Cabinet Secretariat and finance ministry did not immediately respond to requests for comment.

India has said it plans to be an advocate for developing countries under its G20 presidency. Sanyal did not say if India has flagged the issue of country rankings with the G20.

"There are other developing countries who are also concerned about this because effectively this is a form of neo-colonialism," he said, adding that concerned ministries have been asked to establish benchmarks and engage continuously with rating agencies.

Some of the upcoming indices being watched out by India are the financial development index by International Monetary Fund, gender inequality and human development indices by UNDP, logistics performance and worldwide governance indicators by the World Bank, sources said. 

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News Network
November 15,2024

Udupi: The Tourism Department is planning a major eco-friendly development initiative for Kamini Island, located near the Blue Flag-certified Padubidri End Point beach, aiming to attract more visitors while maintaining environmental sustainability.

Assistant Director Kumar CU emphasized that, given the island’s proximity to the Blue Flag beach, all development efforts will center around eco-friendly practices. “We are looking to enhance the Kamini River and the island’s surroundings by adding a hanging bridge, nature trails, and eco-friendly food courts offering traditional cuisine. Visitors will also be able to reach the island by pedal boats or kayaking,” he said.

The development project is estimated to cost between Rs 3 crore and Rs 4 crore. Meanwhile, the Blue Flag beach, Padubidri, continues to see a steady flow of visitors. Vijay Shetty, manager of the beach, shared that tenders for food courts and water sports have been awarded to private parties. Recently, three new coracles have been introduced, which are proving to be a hit with visitors. Additionally, three more shelters are expected to be ready by November 20.

Shetty mentioned that the beach can now accommodate between 2,500 and 3,000 visitors daily, although footfall remains lower than other district beaches due to user fees and activity restrictions. “Initially, most visitors were from Mangaluru, but now nearly 40% come from other districts, showing a shift in the visitor demographics,” Shetty noted.

To further boost tourism and promote a healthy lifestyle, a Beach Carnival is set to take place on November 23-24, featuring the National Sea Swimming Championship and a sea marathon in collaboration with the Padubidri JCI, which is celebrating its golden jubilee. Cultural events will be held at the main beach, with some sports events taking place at the Blue Flag beach. Emphasis will be placed on making all activities environmentally friendly.

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News Network
November 17,2024

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An Israeli airstrike on the office of Syria’s Baath party in Lebanon’s capital Beirut has killed the Lebanese resistance movement Hezbollah's Media Relations Officer, Mohammad Afif, reports say.

Lebanon's National News Agency (NNA) reported that the Israeli raid struck the Ba'ath party’s building in central Beirut district of Ras Al-Naba'a on Sunday, adding that the strike was an attempt to assassinate the leader of the resistance media front.

According to Baath Secretary-General Ali Hijazi, Afif was having a meeting in the Baath Party headquarters when Israel carried out the attack.

"Afif did not fight with weapons and did not lead a military unit in Hezbollah. Rather, he led a media unit," he said.

Reuters, Sky News, Al Jazeera and a number of Henrew-language media reported that Afif was killed in the Israeli strike.

However, Hezbollah has not yet confirmed Afif’s death or whether he was present at the site or not.

Earlier, the Lebanese Health Ministry said at least one person was killed and three others injured after an Israeli strike targeted a central district in Beirut.

Lebanon's al-Mayadeen television network reported that five people were killed in the attack.

The latest development came after Afif said Hezbollah was behind the Caesarea operation and targeting Netanyahu’s home during a speech at the Ghobeiry area in the southern suburbs of Beirut on October 22.

This was the second assassination attempt on Afif in the last two months, after he survived an attack on the Hezbollah media relations office several weeks ago.

Israel launched a ground assault and massive air campaign against Lebanon in late September after a year of exchanging fire across the Lebanese border in parallel with the Gaza war.

At least 3,287 people have been killed in Israeli strikes in Lebanon over the past year, with the vast majority in the past seven weeks. Another 14,222 have been wounded, mostly women and children.

In response to the ongoing aggression, the Lebanese resistance movement Hezbollah has been staging hundreds of retaliatory strikes against the occupied Palestinian territories and the Israeli forces trying to advance on southern Lebanese areas.

The movement has vowed to sustain its strikes until the regime ends the escalation.

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News Network
November 21,2024

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Shares of Adani Group companies lost about $28 billion in market value in morning trade on Thursday after US prosecutors charged the billionaire chairman of the Indian conglomerate in an alleged bribery and fraud scheme.

Gautam Adani's flagship company Adani Enterprises tumbled 23 per cent, while Adani Ports, Adani Total Gas, Adani Green, Adani Power, Adani Wilmar and Adani Energy Solutions, ACC , Ambuja Cements and NDTV fell between 20 per cent and 90 per cent.

Adani group's 10 listed stocks had a total market capitalisation of about $141 billion at 0534 GMT, compared to $169.08 billion on Tuesday.

US authorities said Adani and seven other defendants, including his nephew Sagar Adani, agreed to pay about $265 million in bribes to Indian government officials to obtain contracts expected to yield $2 billion of profit over 20 years, and develop India's largest solar power plant project.

Adani Green in a statement on Thursday said the US Justice Department had issued a criminal indictment against board members Gautam Adani and Sagar Adani and the Securities and Exchange Commission had issued a civil complaint against them.

The US Justice Department also included Adani Green board member Vneet Jaain in the criminal indictment, it said.

Adani Green's units had decided not to proceed with the proposed US dollar denominated bond offerings due to developments, it added.

"Investors will shy away from Adani Group stocks ... and that's what this sharp selling is signifying," said Saurabh Jain, assistant vice president of retail equities research at SMC Global Securities.

"This could hurt the credibility of the group and maybe borrowing costs will rise," he said.

The indictment comes nearly two years after US shortseller Hindenburg Research alleged that Adani had improperly used tax havens and was involved in stock manipulation, allegations the conglomerate denied.

Also in early Asian trading on Thursday, Adani dollar bonds slumped, with prices down 3c-5c on bonds for Adani Ports and Special Economic Zone. The falls were the largest since the Adani Group came under a short-seller attack in February 2023.

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