Month: September 2024

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PROFEE: For once, the most beneficial money transfer service has been found!

Profee has been recognised as the fastest-growing money transfer service in Europe, according to Global Banking & Finance Review, a leading financial magazine. As an EU-licensed and fully regulated Electronic Money Institution (EMI), Profee is supervised by the Central Bank of the Republic of Cyprus. Visit www.profee.com or download the app from Google Play or the Apple Store

Do you know how much money Indians in the UK lose each year on money transfers home? Millions and millions! And the only reason is that many do not know how to do it in a smart way, so they keep on paying ridiculously high fees to traditional banks and remittance services. But no more! To take advantage of new technology and save the hard-earned money, look no further than Profee, an online money transfer service.

First, what options are there for Indians working in the UK to send money overseas, including home?

  • Cash. Perhaps the most obvious, and surely the oldest way to transfer money to another country is sending cash with someone who is travelling appropriately. However, it is also the slowest (add to the duration of the trip the time needed for the cash to change hands on both ends), rather expensive (most probably, the courier needs a remuneration), and not particularly safe even if your courier is a trusted person. Luckily, the times when this was the only available option have long gone.
  • Wire transfer. Until recently, this was one of the most popular channels for international money remittance. Sending money via bank is surely safe but is it fast? Not really, as bank transfer processing can take days or even weeks. Is it cheap? It is definitely not the cheapest option available today. Plus, there might be numerous, and sometimes quite substantial hidden fees which transpire only when the transfer has already been delivered.
  • Cryptocurrency. The demand for cryptocurrencies as a vehicle to move money across boards has been steadily growing in recent years. Nevertheless, it largely remains an option for the ‘chosen ones’ with advanced skills and knowledge about the crypto market’s operations. Moreover, those skills and knowledge are required on both the sending and the receiving sides of an international payment, which excludes, for example, many elderly people who might rely on their children supporting them financially from abroad. Thankfully, today money transfers do not have to be that complicated.
  • Money remittance services. One of ‘traditional’ methods which has been radically transformed to embrace the latest technology. What in the past was a kiosk where you had to bring cash to, perform an impressive amount of paperwork, and then pay a small fortune in fees for your money to be sent to a recipient abroad, is nowadays an… app. Online money transfer services are the simplest, fastest, cheapest, and most convenient solution for sending money overseas. With the right provider, of course, such as Profee.

Choosing your provider

There are dozens of money transfer services on the market. Keep the following in mind when choosing the one suitable for your needs:

  • Credentials. To avoid fraud, always verify the legitimacy of the provider first: its registration with the supervising authority, licences, industry certifications, and so on. With proper services this information is easily located (usually on their website) and crosschecked. Turning to user review platforms also helps.
  • Registration process. Legitimate online money transfer services are strictly regulated and by law required to know certain basic information about their customers such as their phone number, full name, date of birth, and such. However, for larger amounts the sender has to prove their identity, address, and sources of income. The difference is that while some providers keep it simple and would only ask for additional details once certain limits are reached, others demand all of it when signing up, that is, even before the service is used.
  • Fees and charges. Commonly, there are two types of fees attached to a money transfer. One is a fixed fee, that is the amount you pay per transaction regardless of how much you send. The other is a flexible fee which is a share of the amount sent. Besides these, providers also profit from foreign exchange for multicurrency transfers. Their margin is included in the money transfer charges from the UK to India, for example, where pounds are converted into rupees. What matters is the overall charge comprising these three elements.
  • Ease of use. There is a growing number of providers that offer other features in addition to money transfers, such as cards, tiered subscription plans, and even investment tools. So, ask yourself whether you need all those around a simple money transfer transaction.

How to send international transfers

The fastest growing money transfer service in Europe according to Global Banking & Finance Review, an influential financial magazine, is Profee. It is an EU-licensed and fully regulated Electronic Money Institution (EMI) which is supervised by the Central Bank of the Republic of Cyprus and implements all industry standards and regulations including the GDPR, PCI DSS, 3DS, and so on. On Trustpilot, a popular user review platform, Profee has over 3,000 reviews with an ‘Excellent’ rating of 4.4/5.

The service allows users to instantly send money from the countries of the European Economic Area to over 60 destinations globally, including online money transfers from the UK to India. A state-of-the-art solution, Profee uses a unique monitoring system to ensure its customers get the most competitive currency exchange rates on the market.

What do you need to send money via Profee? Only a bank card issued by a European bank and a smartphone with a European phone number. Available as a web-based service and an iOS/Android app, signing up with Profee and sending your first transfer only takes a couple of minutes. Here is how it works:

  1. Go to www.profee.com or download the app from Google Play or the Apple Store.
  2. Verify your phone number and provide basic personal details such as your full name, mailing address, and email.
  3. To send a transfer, select the UK as your home country in Europe, enter the amount you want to transfer, and select the destination. In the converter, you will immediately see the final amount your recipient gets with no hidden fees.
  4. Provide the recipient’s full name and bank card number and your payment details (either a bank card, Sofort, Apple Pay, or Google Pay).
  5. Confirm the information entered is correct and tap ‘Send’. The money will be deposited to the recipient’s card within minutes.

As you can see, sending money with Profee is simple, profitable, and convenient which truly makes it the most beneficial money transfer service for Indians in the UK.

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Business India News UK News

Spread the Diwali spirit: Send money from the UK to India with Profee’s festive rates

For Indians in the UK, Diwali may be more than a festive occasion: the distance separating them from their loved ones becomes especially tangible. Reaching out to them is a way to enjoy the holiday season even when far from India—and Profee, an innovative money transfer app, is a means to bridge the distance seamlessly.

According to a 2023 survey, Indians struggle to adapt when moving abroad: 33% of the respondents feel they do not belong to their new country. While the language barrier is not much of a problem, it is integrating with the new country that Indians are worried about most. Homesickness comes in many shapes and forms, but every Indian abroad knows that it becomes more assertive on special occasions. The bright Diwali light, the strong traditions, and the care of the loved ones turn the holiday into an exceptional experience no words can describe. While many NRIs turn to self-care to overcome homesickness, sending gifts can bring in the holiday spirit. Let us dwell on Profee, a remittance service with several advantages Indians abroad can benefit from. Read the article and get Profee’s special offer for Diwali!

Profee came into the spotlight in 2023 as one of the primary means of sending money from the UK to India. Its key benefit is the outstanding GBP to INR rate, which attracts Indians who keep an eye on the currency exchange market and thrive on sending more money to their loved ones. Profee has crafted its own monitoring system to make the conditions brighter for its clients.

Profee does not compromise on safety: it uses top data storage solutions and adheres to international financial security standards like any bank with a decades-long history. The company uses all available means to show how much it values its clients’ trust.

Profee cares about its customers: creating an account and transferring are simplified for seamless remittance. The support team is available to give clients more information about the service or any processes they encounter.

The steps you’ll need to perform to make a transfer from the United Kingdom to India are easier than cooking a traditional Indian dish or performing a festive dance.

1)      Create a Profee account. Go to profee.com or get the Profee app for your smartphone. Share your name, surname, date of birth, email and phone number, and residential address in the UK.

2)      Enter your transfer details. Enter the transfer sum in the UK pounds and see the amount to be received in India.

3)      Fill in the payment info. You may pay using your card issued in the UK or via Google or Apple Pay (in the app). For the card, you will need to identify the number, expiration date and the CVV/CVC code. 

4)      Fill in the receiver’s data. Enter the recipient’s name, surname, and bank account details, such as the bank’s name, the IFSC code, and the account number.

5)      Check the details and confirm your transfer. 

If you are to use Profee for the first time, there will be a gift for you: a 0% fee for your first transfer from the UK to India and a promo rate: Profee’s special offer for GBP-INR exchange that helps you send even more rupees to light up the festive spirit! And if you are already a Profee client, use the DIWALI24 promo code to send money with no fee – it is valid until November 10th. Go to profee.com or use the Profee app to get your holiday offer right now.

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-Top News India News World News

‘This is only Karma’: India slams Pakistan’s cross-border terrorism

The external affairs minister stated that “Terrorism is antithetical of everything that the world stands for.”…reports Asian Lite News

In a sharp reply to Pakistan, External Affairs Minister S Jaishankar said on Saturday that Islamabad’s policy of cross-border terrorism will never succeed, and the country “can have no expectation of impunity.”

“Actions will certainly have consequences,” said Jaishankar in his address at the 79th session of the UN General Assembly in New York.

“We heard some bizarre assertions from this very forum yesterday. Let me make India’s position very clear – Pakistan’s policy of cross-border terrorism will never succeed. And it can have no expectation of impunity. On the contrary, actions will certainly have consequences.”

India has repeatedly raised its concern over Pakistan’s support of cross-border terrorism and has asserted that terror and talks cannot go together.

“The issue to be resolved between us is only the vacation of illegally occupied Indian territory by Pakistan and, of course, abandonment of Pakistan’s long-standing attachment to terrorism,” Jaishankar added.

The external affairs minister stated that “Terrorism is antithetical of everything that the world stands for.”

“All its forms and manifestations must be resolutely opposed. The sanctioning of global terrorists by the United Nations should also not be impeded for political reasons,” he said.

In his all out attack on Pakistan, Jaishankar said, “GDP can be measured in terms of radicalisation” and “its exports in the form of terrorism.”

“Many countries get left behind due to circumstances beyond their control. But some make conscious choices with disastrous consequences. A premier example is our neighbour, Pakistan. Unfortunately, their misdeeds affect others as well, especially the neighbourhood,” Jaishankar said.

“Today, we see the ills it sought to visit on others consume its own society. It can’t blame the world; this is only karma.”

He said that “A dysfunctional nation coveting the lands of others must be exposed and must be countered.”

The First Secretary, Permanent Mission of India to the United Nations, Bhavika Mangalanandan, on Friday (local time) called out Pakistan’s “hypocrisy” for raking up Kashmir and questioning the Jammu and Kashmir election in India’s Right to Reply at the UNGA session.

In a strong rebuttal to allegations made by Pakistani Prime Minister Shehbaz Sharif in his address at UNGA, the Indian diplomat highlighted that Pakistan had used “terrorism to disrupt elections in Jammu and Kashmir.”

“The truth is that Pakistan covets our territory and has continuously used terrorism to disrupt elections in Jammu and Kashmir, an inalienable and integral part of India. A reference has been made to some proposals of strategic restraint,” she said.

The Indian diplomat brought up the 2008 Mumbai attacks and the 2001 attack on the Indian Parliament.

“Pakistan has long employed cross-border terrorism as a weapon against its neighbours,” Mangalanandan stated. “It has attacked our parliament, our financial capital Mumbai, marketplaces, and pilgrimage routes. The list is long,” she said.

Earlier on Friday, Sharif in his address to the UNGA said that India should reverse the Abrogation of Article 370 and enter into a dialogue with Pakistan for “peaceful” resolution of the Jammu and Kashmir issue.

“Let me state in no uncertain terms, Pakistan will respond most decisively to any Indian aggression, therefore, to secure durable peace, India must reverse the unilateral and illegal measures it has taken since 5th of August 2019 and enter into a dialogue for a peaceful resolution of the Jammu and Kashmir dispute in accordance with the UN Security resolutions and the wishes of the Kashmiri people,” he claimed.

Shehbaz Sharif claimed that India was “engaged in massive expansion of its military capabilities,” which are essentially deployed against Pakistan.

India has already made it clear after the Pulwama attack in 2019 that it wants normal bilateral ties with Pakistan, adding that it is incumbent upon them to create a conducive environment free from terrorism and hostilities.

India has also provided evidence at various international forums of Pakistan’s support for terrorist groups. (ANI)

ALSO READ: Bangladesh Needs Indian Help For Food Security

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-Top News Asia News India News

Armed men abduct 12 Quetta labourers, set machinery ablaze

Pakistan rushes more troops to Balochistan as rights movement spreads wings.(Photo:IN)

According to district administration officials, the abducted workers include drivers and labourers….reports Asian Lite News

Over 12 labourers of a private construction company were abducted and their firm was set ablaze by a group of armed men in the Musa Khel area of Quetta in Pakistan, ARY News reported.

According to district administration officials, the abducted workers include drivers and labourers. The incident occurred in the Taiser Isot area of Musa Khel.

However, the Deputy Commissioner has refuted such reports, claiming that the workers rushed to nearby areas to save their lives and later returned to the company site.

Earlier, some unidentified gunmen gunned down seven labourers in Khudabadan – a locality in Panjgur District – Balochistan.

The labourers, originally from Punjab, were staying in a workers’ quarter when some unidentified armed men stormed the quarter and opened fire, killing them on the spot, as reported by ARY News.

Earlier, seven labourers from Multan were killed late Saturday night in a terrorist attack in the Khuda-i-Abadan area of Panjgur town in Balochistan, as reported by Dawn.

The victims were identified as Sajid, Shafiq, Fayyaz, Iftikhar, Salman, Khalid, and Allah Wasia. They labourers were attacked while sleeping in the same room of the house where they were working.

According to the police, armed men stormed the site and opened fire with automatic weapons, indiscriminately targeting the workers.

“Seven labourers were killed on the spot and another was injured in the firing,” Inspector General of Police Moazzam Jah Ansari said.

Police and other law enforcement agencies reached the spot and the victims were transported to the district hospital for immediate care, as reported by Dawn.

“All the labourers who lost their lives in the firing belong to the Shujabad area of Multan and Abu Bakr brought them to Panjgur for the construction of his house,” Panjgur SSP Fazil Shah Bokhari confirmed. “It is a terrorist attack,” he added, noting that investigations into the incident are ongoing. (ANI)

ALSO READ: Bangladesh Needs Indian Help For Food Security

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Asia News India News Politics

Prakash Karat to coordinate CPM politburo functioning  

The next permanent General Secretary will be selected at the next party congress scheduled to be held at Madurai in Tamil Nadu in April next year….reports Asian Lite News

After the sudden demise of the CPI-M General Secretary Sitaram Yechury earlier this month, the party will now function through the collective leadership of the exiting politburo with Yechury’s predecessor Prakash Karat acting as the “politburo coordinator.”

The next permanent General Secretary will be selected at the next party congress scheduled to be held at Madurai in Tamil Nadu in April next year.

A decision to function through collective leadership of the existing politburo was made at the party’s politburo meeting on Saturday. On Monday, the party’s central committee cleared that proposal and also selected Karat as the “politburo coordinator” during the interim period till the next party congress.

“The Central Committee of the Communist Party of India (Marxist) now in session in New Delhi, has decided that Comrade Prakash Karat will be the coordinator of the politburo and the central committee, as an interim arrangement until the 24th Party Congress to be held in April 2025 at Madurai. This decision was taken due to the sad and sudden demise of the sitting General Secretary of the CPI-M, Comrade Sitaram Yechury,” a statement issued by the party on Sunday afternoon read.

As per the party’s constitution, any decision of the party politburo is subject to the final clearance of the central committee.

On Saturday only, a politburo member from West Bengal pointed out that the party’s constitution does not allow having the post of a ‘working general secretary’. “There is nothing called ‘interim’ in our party. The new central committee and the politburo will be selected at the next party Congress in Madurai next year. There only the new party General Secretary will be selected,” he said.

Yechury was the first existing General Secretary to die before the end of his term. He was supposed to be replaced at the Madurai party congress as he would have completed his third term in office.

ALSO READ: Bangladesh Needs Indian Help For Food Security

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-Top News EU News India News

France submits final price offer to India for 26 Rafale jets

France: Exercise Garuda 2019, the Indo-French joint air drill, concluded in Mont-de-Marsan in France on Friday. The Indian Air Force had sent a large contingent of four Su-30 MKI fighters, an IL-78 mid-air refueller and two C-17 heavy lift aircraft. The IAF fighters flew along with French Rafale jets. IAF Vice Chief R.K.S Bhadauria flew in the final mission. The combination of Su-30 MKIs and Rafales, which IAF will fly in the coming years, was tried out during the joint drills. (Photos: IANS)

India and France are negotiating the deal for buying 26 Rafale Marine jets which are going to be deployed on the INS Vikrant aircraft carrier and different bases….reports Asian Lite News

France has submitted the final price offer to India for the 26 Rafale Marine Jet deal just ahead of the scheduled visit of Indian National Security Advisor Ajit Doval to the country.

Defence sources told ANI that the best and final price offer has been submitted to the Indian authorities by the French side for the project and a significant price reduction has been given after tough negotiations in the proposed contract.

India and France are negotiating the deal for buying 26 Rafale Marine jets which are going to be deployed on the INS Vikrant aircraft carrier and different bases.

The two sides had also held negotiations last week when a French team was in the national capital for finalizing the discussions with India.

The deal is scheduled to be taken up for discussion during the India-France Strategic Dialogue where the Indian NSA is scheduled to meet his French counterparts from tomorrow in Paris.

The deal is important for the Indian Navy as it is looking at strengthening its maritime strike capability.

India has also approved deviations in the letter of request, which is the tender document equivalent in government to government deals, like the integration of the indigenous Uttam radar in the jets for the Indian Navy.

Sources said that the integration would have taken a longer time of around eight years along with a high price to be paid to the French side for doing so.

India had also asked France for integration of indigenous weapons on the plane. This includes the Astra beyond visual range missiles along with the Rudram anti-radiation missiles.

The sources added that the price for the deal has been based on the agreements over rate it inflation to be taken into account and would be using the previous deal for 36 Rafale fighter aircraft for the Indian Air Force as the basis.

Some of the Indian Air Force requirements have also been incorporated in the naval deal which will include around 40 drop tanks and a small number of work stations for the planes.

The Indian side is also going to get more number of long range air to air Meteor missiles and with the anti-ship weaponry in this project planned to be concluded before the end of this financial year. (ANI)

ALSO READ: Bangladesh Needs Indian Help For Food Security

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-Top News India News Politics

Won’t die till Modi ‘removed’ from power: Kharge

Prime Minister Narendra Modi on Sunday spoke to Congress President Mallikarjun Kharge and inquired about his health after his sudden illness during campaigning…reports Asian Lite News

Congress President Mallikarjun Kharge, who fell ill while addressing a poll campaign rally in J&K’s Kathua district on Sunday, said that he won’t die till Prime Minister Narendra Modi is “removed” from power.

While addressing a huge gathering on the last day of the campaign for the third and final phase of the state Assembly elections, he said: “We will fight to restore statehood. I am 83 years old, I am not going to die so early. I will stay alive until Prime Minister Narendra Modi is removed from power.”

As Kharge fell dizzy on stage, several party leaders rushed to support him.

Claiming that the Central government never wanted to conduct elections in J&K, Kharge said: “They would have done it within a couple of years if they wanted to. They started preparing for elections after the Supreme Court’s order. They did not want elections. They wanted to operate a remote-controlled government through the Lt Governor.”

Alleging that PM Modi did not give anything to the country’s youth in the last 10 years, Kharge said: “Can you believe in a person who cannot bring back your prosperity in 10 years? If a BJP leader comes in front of you, ask them if they brought prosperity or not.”

After the campaign rally, the Congress president will undergo a preliminary medical examination to ascertain the reason for dizziness.

The National Conference and Congress are fighting the J&K Assembly polls in a pre-poll alliance against the BJP. According to the terms of the agreement between the two parties, the NC has fielded candidates for 52 constituencies and the Congress for 31.

The two alliance partners have left two seats uncontested, one in the Kashmir Valley for CPI-M and the other in the Jammu division for the Panthers Party.

Both, the Congress and the NC have fielded candidates for five seats in Sopore, Nagrota, Kishtwar, Doda and Banihal. The two parties are poised for a friendly contest in these five seats.

Two phases of the three-phased J&K Assembly polls ended on September 18 and September 25. Voting for the third and final phase is scheduled for October 1. The counting of votes is scheduled for October 8.

Around 40 Assembly seats, including 11 in Jammu, six in Kathua, three in Samba and four in Udhampur districts of Jammu division, will go to polls on October 1.

In the two districts of Baramulla and Kupwara of the Valley, 16 Assembly constituencies will vote.

Campaigning for the third phase will end at 6 p.m. on Sunday

Shah slams Kharge over remarks on PM

Union Home Minister Amit Shah on Monday criticised Congress President Mallikarjun Kharge over his remarks against Prime Minister Narendra Modi saying it was “distasteful and disgraceful”.

Taking this to social media X, HM Shah stated, “Yesterday, the Congress President Shri Mallikarjun Kharge Ji has outperformed himself, his leaders and his party in being absolutely distasteful and disgraceful in his speech.”

“In a bitter display of spite, he unnecessarily dragged PM Modi into his personal health matters by saying that he would die only after removing PM Modi from power. It just shows how much hate and fear these Congress people have of PM Modi, that they are thinking of him constantly,” said HM Shah.

HM Shah further stated, “As for the health of Kharge, PM Modi prays, I pray and we all pray that he lives a long, healthy life. May he continue to live for many years and may he live to see the creation of a Viksit Bharat by 2047.”

Prime Minister Narendra Modi on Sunday spoke to Congress President Mallikarjun Kharge and inquired about his health after his sudden illness during campaigning.

“PM Modi spoke to Congress President Mallikarjun Kharge Ji and enquired about his health,” the Prime Minister’s Office said.

Rahul highlights growth of ‘Indira Fellowship’

Congress MP and Leader of Opposition in Lok Sabha Rahul Gandhi emphasised the growth of ‘Indira Fellowship’ since its launch last year and called for greater participation of women in politics.

In a post on X, Gandhi said that “true equality and justice” requires more women in politics and urged all women to become active participants in “women-centric politics” by joining Shakti Abhiyan.

“A year ago, we launched the ‘Indira Fellowship’ with a mission to amplify women’s voices in politics. Today, this initiative has grown into a powerful movement for women’s leadership,” Gandhi said in the post.

“True equality and justice require more women in politics. “Aadhi Abadi, Poora Haq” embodies our unwavering commitment to this cause. I urge all women who are passionate about creating real change to join the ‘Shakti Abhiyan’ and become active participants in women-centric politics. By getting involved, you will contribute to building robust grassroots organisations and driving meaningful change. Join us and register today at http://shaktiabhiyan.in. Together, we can create change, from the villages to the nation as a whole,” the post mentioned.

Indira Fellowship is an initiative in honour of former Prime Minister Indira Gandhi, to amplify the voices of women in the political arena.

As per the Indira Fellowship website, Shakti Abhiyan is a movement ‘by women for women’ to ‘Educate, Organize, Agitate’ for equal rights and ownership (Haq & Hissedari) inspired by the principle of Aadhi Abadi, Pura Haq.

Participants receive mentorship, training on policy-making, grassroots campaigning, and leadership development over a nine-month program. (ANI)

ALSO READ: Bangladesh Needs Indian Help For Food Security

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-Top News Bangladesh India News

Bangladesh Needs Indian Help For Food Security

Anti-India sentiments can only take them to the Pakistan way, where inflation hovered between 11% and 38% between April 2021 and July 2024, writes Abdulrahman Kareem

Bangladesh is dogged by sustained double-digit food inflation. The inflation is following a rising trend since May 2022 in the aftermath of the Russia-Ukraine conflict. Bangladesh is not alone. Geopolitical contest, sporadic wars and trade wars are have added to the price volatility across the world. USA suffered higher food inflation than Bangladesh during October 2021 and March 2023 period.

As a large and resourceful economy, it is easier for USA to neutralise the impacts. They can import food and subsidise it for common people. But, Bangladesh doesn’t have that liberty. They have nearly half of the US population to feed, without access to as much of agriculture land. From food to energy and raw material for their sole RMG export; Bangladesh has disproportionate import dependence. A slowdown in global trade saw their foreign currency reserves dwindling and food prices rising.

For solution, Dhaka should learn from India’s agriculture-market operations, pace up creation of transport infrastructure for easy and cheap transfer of goods between the two nations and, most critical of all, they must strengthen bilateral cooperation. Anti-India sentiments can only take them to the Pakistan way, where inflation hovered between 11% and 38% between April 2021 and July 2024. It was down to 9.6% in August.

India’s Jaishankar meets Bangladesh Foreign Affairs Adviser Md. Touhid Hossain

Efficient marketing

Common Bangladeshis feel excited to see that food items are is sold in lowest minimum quantities in India. In Bangladesh they are forced to buy a whole fish, a minimum of one kilogram of apple or curd. Eggs are sold in a minimum of four pieces. On the other hand, in India, you can buy parts of a large Rohu fish or one piece of apple, banana or egg. Curd comes in different containers, weighing 100 grams and above.

This is sachet marketing technique. It widens the customer base and ensures faster and bigger sales. Faster movement off the shelves reduces the financial and storage costs of the food marketing channel. The benefit comes through competitive pricing. Buying in smaller quantities reduces the capital block and potential wastages at the consumer-end. Even the poor enjoys wide food options. This is a highly efficient marketing system.

The bigger benefit comes through stabilisation of demand and supply. In Bangladesh, people buy food items in very large quantities and store it for weeks or months in electricity-guzzling freezers. This system is prone to suffer from demand spikes. Effective demand may often surpass the effective supply. Trade may find it difficult to bridge the gap and prices may suffer artificial escalation. Larger part of the food platter remains inaccessible to the poor. In contrast, the Indian system is more equitable.

Supply side management

Demand side management cannot be successful without matching supply. India was food deficient when born. Today it is ranked 7th or 8th in list of top food exporters. Over the last three years, food inflation remains lower than Bangladesh. And, whatever volatility it had witnessed in the recent past was due to vegetables, which are extremely perishable in nature and are susceptible to weather risks. Prices of staples, fish, egg, fruits, sugar, oil mostly remain stable.

The reason behind this stability lies in meticulous planning. India is not self-sufficient on edible oil. So, it goes for long term import contracts. It had also built huge infrastructure to create buffer stocks. India is a leading force in space technology, weather prediction and biotechnology. Space and weather prediction are related. They help India in monitoring and predicting domestic and global agri-production. Based on the outcome,Delhi gets into import and export operations. Biotechnological prowess offers access to high-yielding and weather resistant varieties.

It is impossible for Dhaka to replicate India’s success story in food, at least not in the foreseeable future. But population growth ensures that Bangladesh’s demand for food will keep rising. Importing food is costly due to high shipping charge. It had become costlier and more time-consuming in the days of Houthi, Israel-Hamas, Ukraine-Russia etc. Myanmar was a food exporter but the political turmoil had hit it hard. Bangladesh has no option but depending on next door neighbour India.

Geopolitics and food

Noticeably, food has become a part of the global geopolitical contest, and India is in the most advantageous situation. In 2022, United Arab Emirates (UAE) entered a food security deal with India. UAE is India’s third largest trade partner. India needs Abu Dhabi for sourcing energy. UAE’s dependence on food is acting as a counter-balance. The relationship is now strategic and, stronger than ever.

UAE is not alone. India is offering assurance of food supply in lieu of energy or technology to several countries around the world. A memorandum of understanding was also signed with Sheikh Hasina government in Dhaka in 2022. It is the job of the Muhammad Yunus administration to take it forward. But that would not happen at Dhaka’s terms. India would demand strategic advantages from Dhaka for solving its long-term concern.

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-Top News Arab News Asia News

Senior Hezbollah Commander Dies in Israeli Strikes

Hezbollah said on Sunday in a statement that Karaki “was martyred with a group of his jihadist brothers in the enemy’s criminal raid on Haret Hreik…reports Asian Lite News

Hezbollah has confirmed that the group’s senior leader Ali Karaki, head of the southern front, was killed, along with top leader Sayyed Hassan Nasrallah, in the Israeli airstrikes targeting Beirut’s southern suburbs.

Hezbollah said on Sunday in a statement that Karaki “was martyred with a group of his jihadist brothers in the enemy’s criminal raid on Haret Hreik, accompanied by… Hezbollah Secretary-General Sayyed Hassan Nasrallah”.

On Friday evening, Israeli warplanes launched airstrikes on Hezbollah’s main headquarters in Dahieh, the southern suburbs of Beirut, during which Nasrallah and some other commanders of the armed group were killed, Xinhua news agency reported.

The Israel Defense Forces (IDF) has claimed on Sunday that it killed Nabil Qaouk, the commander of Hezbollah’s Preventive Security Unit and a member of Hezbollah’s central council, in an airstrike on Saturday. It gave no detail on where the strike took place.

The IDF said that Qaouk was “considered to be close to the top of” Hezbollah and “was directly engaged in promoting terrorist designs against the State of Israel and its citizens, even in recent days”.

The US designated Qaouk a global terrorist in October 2020, saying he had represented Hezbollah at events commemorating deceased Hezbollah terrorists as well as the Iranian Revolutionary Guards commander Qasem Soleimani, who died in a US drone strike in January 2020.

The raids flattened several residential buildings, resulting in at least six deaths, 91 injuries, and significant infrastructure damage in the neighbourhood, local media reported earlier.

These heavy assaults mark the latest escalation of the ongoing clashes between Israel and Hezbollah, which began on October 8, 2023, when Hezbollah started launching rockets at Israel in solidarity with Hamas in the Gaza Strip, prompting Israel’s retaliatory artillery fire and airstrikes in southeastern Lebanon.

ALSO READ: Jaishankar amplifies voice of Global South

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-Top News Asia News India News

Jaishankar appreciates efforts of Indian diaspora

Jaishankar on Saturday also emphasised that large parts of the world cannot be left behind while addressing key issues…reports Asian Lite News

External Affairs Minister S Jaishankar participated in the launch of the PanIIT Alumni Foundation in New York, alongside the 79th United Nations General Assembly session on Saturday.

During the event, he appreciated the efforts and contributions of India’s diaspora community in developing the Viksit Bharat.

Sharing a post on X, Jaishankar wrote, “Pleased to participate in the launch of PanIIT Alumni Foundation in New York. A good chat with Dr. Purnendu Chatterjee on developing a technology and manufacturing ecosystem in India.”

He added, “Appreciate the efforts and contributions of our diaspora in developing a Viksit Bharat.” Meanwhile, Jaishankar also met his counterparts from Mexico and Algeria on the sidelines of UNGA.

Sharing a post on X, Jaishankar wrote, “After the speech at UNGA79. With FM Alicia Barcena of Mexico.” In another post, he said, “A warm meeting with FM Ahmed Attaf of Algeria today on the sideline of UNGA79. Useful exchange on taking forward our long-standing partnership. Also discussed advancing our multilateral cooperation.”

Jaishankar on Saturday also emphasised that large parts of the world cannot be left behind while addressing key issues and highlighted the need for a United Nations that is effective, efficient, and representative.

The remarks by Jaishankar came during his address at the 79th session of the UN General Assembly in New York on Saturday. He said, “The global order is inherently pluralistic and diverse. The UN began with 51 members; we are now 193. The world has changed profoundly and so have its concerns and opportunities. But to address both and indeed to strengthen the order itself, it is essential that the UN be the central platform for finding common ground. And that it certainly cannot be, by remaining anachronistic.

He added, “Large parts of the world cannot be left behind when it comes to deciding the key issues of our times. An effective and efficient UN, a more representative UN and a UN fit for purpose in the contemporary era are essential.”

Highlighting the importance of global cooperation, the EAM noted that through sharing experiences, and pooling resources, the world can be transformed. “Let us therefore send out a clear message from this UNGA Session: we are determined not to be left behind. By coming together, sharing experiences, pooling resources and strengthening our resolve, we can change the world for the better,” Jaishankar said. (ANI)

EAM advocates for efficient and representative UN

External Affairs Minister S Jaishankar emphasised that large parts of the world cannot be left behind while addressing key issues and highlighted the need for a United Nations that is effective, efficient, and representative.

The remarks by Jaishankar came during his address at the 79th session of the UN General Assembly in New York on Saturday.

He said, “The global order is inherently pluralistic and diverse. The UN began with 51 members; we are now 193. The world has changed profoundly and so have its concerns and opportunities. But to address both and indeed to strengthen the order itself, it is essential that the UN be the central platform for finding common ground. And that it certainly cannot be, by remaining anachronistic.

He added, “Large parts of the world cannot be left behind when it comes to deciding the key issues of our times. An effective and efficient UN, a more representative UN and a UN fit for purpose in the contemporary era is essential.”

Highlighting the importance of global cooperation, the EAM noted that through sharing experiences, and pooling resources, the world can be transformed. “Let us therefore send out a clear message from this UNGA Session: we are determined not to be left behind. By coming together, sharing experiences, pooling resources and strengthening our resolve, we can change the world for the better,” Jaishankar said.

Jaishankar during his address, also highlighted the concerns of the Global South, and said that development plans and Sustainable Development Goal (SDG) targets are drifting away. He said, “We are gathered here at a difficult time. The world is yet to recover from the ravages of the Covid pandemic. A war in Ukraine is well into its third year. The conflict in Gaza is acquiring wider ramifications. Across the Global South, development plans have gone off rails and SDG targets are receding. But there is more.”

He highlighted the threats facing the region — unfair trade practices, devastating climate events, and food security concerns. He said, “Unfair trade practices threaten jobs, just as unviable projects raise debt levels… Technology advancements, which have long been a source of hope, are now equally a factor of anxiety. Climate events occur with greater intensity and frequency. Food security is as worrisome as health security.”

He further said, “As the world contemplates these concerns, India has sought to respond in a variety of ways.”

Elaborating on the measures, Jaishankar added, “First, by focusing on the issues of the vulnerable, women, farmers and youth. And fashioning targeted policies and initiatives for their betterment. Assured access to piped water, to electricity, to cooking gas and new homes are changing millions of lives. The gender gap has started to close, be it in health, in education or in the work place. Our food producers, thrice a year, get financial support at the click of a button. And a third-term government has made skilling of the youth its key priority.”

Jaishankar further asserted that India has made significant strides in expanding opportunities for employment and entrepreneurship. “Second, by expanding opportunities for employment and entrepreneurship, including through stronger training and large-scale financial incentives. 495 million Mudra loans have been given to small businesses in the last decade. 67 per cent of them are women. Equally telling, 6.56 million street vendors have availed 8.85 million Svanidhi loans. This is just in the last 4 years. 45 per cent of the beneficiaries are again women.”

He added, “Third, by creating templates that are replicable elsewhere. It could be digital delivery or enhancing the quality of governance and public services. As indeed, making medicines and health facilities accessible and affordable…”

The EAM stressed the importance of empowering the Global South to share its collective concerns. “Fourth, by encouraging the Global South to voice its shared concerns and come together. To that end, we have convened three Global South Summits, the most recent in August of 2024.”

He further said, “And fifth, by contributing to the well-being of the global commons and responding to the pressing needs of those in distress. This has ranged from undertaking projects in 78 nations, providing resources to neighbours and responding to HADR situations, to supplying medicines and ensuring maritime safety and security.” (ANI)

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