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AI Revolutionises Industries: From Education, Finance to Warfare and Gaming

From its early days as a mere academic curiosity to its current status as a powerhouse of innovation, AI has undergone significant transformations, shaping the world as we know it, writes Chetanya Mundachali

Artificial Intelligence (AI) has come a long way since its inception, transforming from a fledgling concept to a revolutionary technology that permeates every aspect of our lives. From its early days as a mere academic curiosity to its current status as a powerhouse of innovation, AI has undergone significant transformations, shaping the world as we know it. Pioneers like Alan Turing, Marvin Minsky, and Frank Rosenblatt laid the groundwork for AI’s future advancements that had an impact on the world as we see today. Following are the various sectors where AI has brought in significant changes:

AI in Education

Artificial Intelligence (AI) is transforming the education sector, enhancing the learning experience, and improving outcomes. AI’s applications in education range from personalized learning to intelligent tutoring systems. 

AI integration enhances student engagement, improves learning outcomes, increases accessibility, reduces teacher workload, and provides personalized learning experiences.

Challenges and Future Directions

While AI transforms education, challenges remain, including data privacy, equity, bias, and teacher training. Examples of AI-powered educational tools include Carnegie Learning’s Cognitive Tutor, DreamBox Learning’s Math Platform, Coursera’s AI-driven Course Recommendations, IBM’s Watson Education, and Google’s Classroom and Expeditions. By embracing AI, educators can create a more inclusive, effective, and inspiring learning environment.

Personalized Learning Paths: Recommending customized learning routes based on students’ strengths and weaknesses. This is very important since all students from the school to the university level have varied potential with strengths and weaknesses. AI can measure IQ learning curves and can potentially come up with specific digital learning tools to improve learning. 

For example, AI-powered learning tools can help and enhance the performance of students with low aptitude for mathematics and similar quantitative subjects

AI in Cryptocurrency and Stock Market

AI has revolutionized stock market predictions, offering tangible results and a decisive edge in the financial landscape. AI-based systems accurately predict stock prices, executing trades within milliseconds, and reducing human bias. AI models provide objective perspectives, free from cognitive biases and human emotions, leading to optimal investment decisions.

WorldCoin by Sam Altman

AI’s predictive capabilities also enhance market analysis, risk management, and portfolio optimization. Natural Language Processing (NLP) algorithms gauge market sentiment trends, providing traders with valuable insights. AI-powered bots assist users with stock trading queries, streamlining the investment process. AI-powered bots assist users with stock trading-related tasks and queries, quickly understanding and responding to requests. By leveraging AI, the stock market experiences improved efficiency, accuracy, and customer satisfaction.

Enhanced Security and Fraud Detection

The application of Artificial Intelligence in the cryptocurrency market has greatly enhanced security measures. Structurally, AI systems monitor transaction data tendencies and identify potentially fraudulent activities. Despite increasing threats from hackers, such as the ‘WinX’ crypto defraudation by Korean hackers, AI protects and prevents security risks.

The integration of AI in cryptocurrency is a game-changer, offering unparalleled opportunities and challenges. From enhanced market analysis and automated trading to advanced security measures and predictive maintenance, Artificial Intelligence has reshaped the crypto market.

AI in Finance

AI-based high-frequency trading accurately predicts stock prices, executing trades within milliseconds and capitalizing on minuscule price discrepancies. AI models provide objective perspectives, free from cognitive biases and human emotions, leading to optimal investment decisions.

AI offers personalized financial recommendations, considering individual preferences, financial goals, and risk tolerance. AI models analyze historical market data and volatility, adjusting portfolios in real-time to align with changing market conditions and suggesting diversification strategies to mitigate potential risk.

Warfare and Defence

The significance of AI in modern warfare is growing rapidly. The Responsible Use Of Artificial Intelligence In The Military Domain (REAIM) conference in Seoul highlighted the need for responsible AI deployment. AI applications in warfare include autonomous weapons systems, predictive maintenance, intelligence gathering, cyber warfare, and command and control.

Israeli forces have utilized AI-powered programs such as ”Lavender” and ”The Gospel” to detect enemy movements and monitor enemy territory using AI-powered drones. AI-enhanced sensors improve battlefield awareness, and AI-driven tools detect and respond to cyber threats. Military experts have opined that AI will be instrumental in creating ‘super soldiers’ or military robots in future.

Revolutionising the Gaming Industry

AI has already transformed the gaming industry, with remastering old games using AI being a notable trend. AI algorithms enhance graphics, upscale textures, and improve lighting. AI generates new textures based on original game assets and recreates 3D models from 2D assets.

Famous remastered games using AI include GTA San Andreas (Definitive Edition), Resident Evil series, and Call of Duty series.

As AI continues to expand into new sectors, it drives innovation, creates new opportunities, and demands specialized skills. The responsible development and deployment of AI remain crucial across industries.

Accelerating Human Progress and Growth

The adoption of Artificial Intelligence (AI) continues to accelerate, fostering innovative opportunities and skills. As the culmination of human intelligence and potential, AI relentlessly reshapes the world. AI’s pervasive integration across industries expedites workflows, boosting efficiency and productivity. This surge in AI adoption has sparked unprecedented demand for AI-specialized professionals, fueling a significant expansion in the AI job market. In response, esteemed universities worldwide have introduced cutting-edge AI courses, equipping the next generation with the expertise to harness AI’s transformative power.

As AI assumes a pivotal role in driving human progress, its potential to revolutionize the world becomes increasingly evident. By embracing AI’s limitless possibilities, we can propel societal advancement, redefining the future of various industries and disciplines in the world of tomorrow. Artificial Intelligence has proven itself to be the driving force behind technological advancements and global progress in the 21st century.

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Columns Motoring UAE News

Lotus UAE Unveils 2025 Emeya Electric Hyper-GT

One of the fastest electric grand tourers in the world with 0-100km/h in 2.8 seconds, 610 km range, and fast-charging capability. Prices start at AED 439,000….reports Asian Lite News

Adamas Motor Group, the official dealer of Lotus Cars in the United Arab Emirates, has officially introduced the 2025 Lotus Emeya hyper-GT during a private VIP event held in the futuristic city of Dubai.

The new Emeya follows in the footsteps of the Eletre and joins the range as a next-generation all-electric lifestyle vehicle to support Lotus’ vision of becoming an all-electric global luxury brand. This revolutionary four-door vehicle seamlessly blends the excellent dynamic performance that Lotus is renowned for, with world-class refinement, comfort, usability and connectivity – bringing drivers the ultimate grand tourer package.

Emeya is competitively priced in the luxury GT segment. It is available in Emeya, Emeya S, and Emeya R trim levels, with prices starting from AED 439,000 and with the first local deliveries scheduled by year-end. The Lotus Emeya retains the core Lotus sports car DNA while redefining the hyper-GT segment with a fusion of cutting-edge technology, exhilarating performance, and sophisticated design.

Combining classic Lotus aesthetics with modern luxury, the Emeya is available in six striking colours and features bold wheel arches and aerodynamic elements that honour Lotus’s racing heritage. Its opulent interior is crafted with sustainable materials, including real metal touch points for added sophistication. A 55-inch head-up display ensures vital information remains in the driver’s line of sight, while KEF’s Uni-Q™ speakers and Dolby Atmos surround sound offer an immersive audio experience.

Delivering an unparalleled driving experience, the Emeya offers up to 905 bhp, accelerating from 0-100 km/h (0-62 mph) in under 2.8 seconds and 0-200 km/h (0-124 mph) in just 9 seconds. Advanced active aerodynamics, including a pioneering front grille, rear diffuser, and rear spoiler, contribute to a class-leading drag coefficient and generate over 150kg of downforce.

Equipped with a high-performance twin-layer battery and enhanced cooling, the Emeya boasts a range of up to 610 km (379 miles) and ultra-fast charging capabilities. The car can charge from 10 to 80 per cent in just 14 minutes using a 400-kW DC fast charger, which supports up to 600 amps, making it one of the fastest-charging EVs available today. This advanced technology allows the Emeya to gain up to 310 km of range in just 10 minutes, providing drivers with unparalleled convenience and reducing time spent at charging stations. The new Emery also features the latest in-car technology and safety systems, including a 15.1-inch HD OLED Lotus Hyper OS infotainment system powered by Unreal Engine, delivering a responsive, interactive 3D display and highest quality visuals.

Karl Hamer, Chairman and CEO of Adamas Motor Group, commented: “We are thrilled to introduce the all-new Lotus Emeya Electric Hyper-GT to our valued customers and partners here in the UAE. The launch of this amazing lifestyle vehicle marks an important milestone in our journey over recent years to establish Lotus Cars at the forefront of the market here in the UAE. With its exceptional performance, luxurious design, and advanced technology, we are confident that the new Emeya will make a strong impact on the market and join the Lotus Emira and Eletre Hyper SUV, which entered the UAE market successfully in June 2024.”

Dan Balmer, President and CEO of Lotus Cars Asia Pacific and Middle East commented: The new Emeya plays a vital role for Lotus Cars as we expand our Electric vehicle lineup. The UAE’s enthusiastic response towards our cars is a testament that our technology and designs – especially with our newest Hyper-GT – will continue to meet our customer’s expectations and solidify our presence in the Emirates.  

The new Lotus Emeya is available for test drives with order book open via Lotus Cars UAE, operated by Adamas Motor Group. For further information on the Lotus Emeya in the UAE, please visit: https://www.lotuscars.com/en-AE.

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Categories
China Columns UK News

The end of civil liberties in Hong Kong: Beijing using 1997 agreement with the U.K. as toilet paper

Photo taken on July 14, 2020 shows the Golden Bauhinia Square in south China's Hong Kong, July 14, 2020. (Xinhua/Wu Xiaochu/IANS)

It is no wonder that in Hong Kong, like in Beijing, the anniversary of the Tiananmen Square massacre of 1989 was marked by silence in the graveyard this year, writes Anirudh Jain

The case of pro-democracy activist of Hong Kong Joshua Wong in the biggest case under the National Security Law brought to trial in the former British colony is a glaring instance of how the new law imposed by Beijing is being used against democracy activists in the island city.

Wong was one of 47 activists charged in 2021 under the NSL with conspiracy to commit subversion for their involvement in an unofficial primary. The activists were accused of attempting to paralyse the government in Hong Kong and topple the Leader of Hong Kong by aiming to win a legislative majority and using it to block the budgets of the city indiscriminately.

Wong first became a household name in Hong Kong as a teenager in 2012 for leading protests against the implementation of national education in schools in Hong Kong.

In 2014, he rose to fame as one of the student leaders in the Occupy Movement in the city, during which demonstrators occupied streets for 79 days and brought traffic in some areas to a standstill, demanding direct elections for Hong Kong’s leader.

Hong Kong police conduct a dispersal operation outside the Hong Kong International Airport. (Xinhua/IANS)

In the leaderless pro-democracy movement in Hong Kong in 2019 against a law for extradition of accused citizens of Hong Kong to mainland China for trial, Wong helped drum up overseas support for the protests. His activism resulted in Beijing calling him as an advocate of the independence of Hong Kong who had “begged for interference” from foreign forces. When the security law was enacted on June 30, 2020, “Demosisto,” a political party he had co-founded, was disbanded.

The convictions have drawn concern from foreign governments. The United States has said it plans to impose new visa restrictions on both Chinese and Hong Kong officials responsible for implementing the security law. A British judge has said the verdict “is symptomatic of a growing malaise in the Hong Kong judiciary,” days after resigning from a post on the top court in Hong Kong. In fact, a series of resignations of British and Australian judges from top courts in Hong Kong has put a serious question mark on the independence of judiciary in the island city. Courts in Hong Kong may soon be reduced to the status of kangaroo courts.

A former chief justice of the Supreme Court of Canada stepped down from the top court of Hong Kong last year, following a series of resignations by other overseas judges from the court. Beverly McLachlin ended her term serving as a non-permanent overseas judge at the Court of Final Appeal in Hong Kong. Jonathan Sumption, a British judge who has resigned from the Court of Final Appeal of Hong Kong, has subsequently mentioned about a growing “paranoia of the authorities” and judges being intimidated by a “darkening political mood” in the Asian financial hub. “Hong Kong, once a vibrant and politically diverse community, is slowly becoming a totalitarian state. The rule of law is profoundly compromised in any area about which the government feels strongly,” he has written. “The least sign of dissent is treated as a call for revolution.” He has written that he had remained on the court in the hope that the presence of overseas judges would help sustain the rule of law, but “I fear that this is no longer realistic.”

Another British judge, Lawrence Collins, resigned last June; saying his departure was “because of the political situation in Hong Kong.” In 2022 another British judge, Robert Reed, stepped down while saying the administration “has departed from values of political freedom, and freedom of expression.”

In fact, the NSL enacted by the Chinese government in 2020 has eroded the judicial independence of Hong Kong and all but wiped out public dissent. Many pro-democracy activists have been arrested under the NSL.

In the latest of such outrage, at the end of August two former editors of a news outlet already forced to down its shutters were convicted on the charge of sedition. Former Editor-in-Chief Chung Pui-kuen and former Acting Editor-in-Chief Patrik Lam of Stand News were arrested in December 2021. Stand News was one of the last media outlets that had openly criticized the government for the crackdown on dissent that followed the massive pro-democracy protests in Hong Kong in 2019.

One of the most prominent detainees has been publisher Jimmy Lai, the 76-year-old founder of the now-defunct Apple Daily newspaper. He was arrested in 2020 during a crackdown on the pro-democracy protests in 2019. He was charged with colluding with foreign forces to endanger national security and conspiring with others to put out seditious publications. If convicted, he faces up to life in prison.

Last month, Lai’s lawyer Robert Pang argued before a Hong Kong court his client had no case to answer because the evidence of the prosecutors was insufficient and that the prosecution had failed to prove Lai’s intent and had stressed the importance of freedom of speech. But a three-judge bench ruled against him last week, without any elaboration. “Having considered all the submissions, we rule that the first defendant has a case to answer on all charges,” was all that the judges said.

Observers say Lai’s high-profile case is a trial of press freedom and a test for judicial independence in the Asian financial hub. When Britain handed back Hong Kong to China in 1997, the city was promised to have its Western-style civil liberties kept intact for 50 years. The freedoms that once set Hong Kong apart from mainland China, including freedoms of press and assembly and judicial independence, has however drastically shrunk since the enactment of the NSL of 2020.

On the other hand, the Hong Kong authorities are devising new ways every second day to crush civil liberties and voices of dissent. They have lately cancelled the passports of six overseas-based activists under the NSL, stepping up its crackdown on dissidents who have moved abroad. Among them are former pro-democracy lawmaker Nathan Law, unionist Mung Siu-tat and activists Simon Cheng, Finn Lau, Johnny Fok and Tony Choi; all accused of endangering national security by authorities in Hong Kong. The government has said they have “absconded” to the UK.  The Hong Kong police have offered rewards of 1 million Hong Kong dollars each for information leading to their arrests; a step that has drawn sharp criticism from Western governments.

It is no wonder that in Hong Kong, like in Beijing, the anniversary of the Tiananmen Square massacre of 1989 was marked by silence in the graveyard this year. Tiananmen memorials have been scrubbed out in Hong Kong. A carnival organised by pro-Beijing groups was held in a park that for decades was the site of a huge candlelight vigil marking the anniversary of the massacre.

As Beijing’s toughened political stance has effectively extinguished any large-scale commemorations within its borders, overseas commemorative events have grown increasingly crucial for preserving memories of the Tiananmen crackdown. Over the past few years, a growing number of talks, rallies, exhibitions and plays on the subject have emerged in the US, UK, Canada, Australia and Taiwan. These activities foster hope and counteract the aggressive efforts to erase reminders of the crackdown.

Categories
Bollywood Columns Films

When reel Captain Sharan met the real Captain Sharan

Vijay penned a long note in the caption as he recollected meeting the pilot for the first time….reports Asian Lite News

Actor Vijay Varma, who is gearing up for his upcoming limited series ‘IC 814: The Kandahar Hijack’, has shared a glimpse from the cockpit.

On Saturday, the actor took to his Instagram, and shared 2 pictures with Captain Devi Sharan who was the pilot during the hijack of the Indian Airlines Flight 814, along with first officer Rajinder Kumar, alongside flight engineer Anil Kumar Jaggia. Captain Devi Sharan exhibited tremendous courage and composure during the critical moments.

Vijay also penned a long note in the caption as he recollected meeting the pilot for the first time.

He wrote, “Real and Reel Captain Sharan. When I first met the captain.. I was taken in by his pleasant smile and his simplicity.. and then I saw a scar on his neck.. I asked him about it.. he simply and politely said ‘wo hijackers ki gun 7 din tak yahi ragadti rahi toh wound ho gaya tha jo heal nahi hua’ I froze (the wound that I got because of hijacker’s gun never healed) He smiled”.

He further mentioned, “I knew I was talking to a real life hero. It was such a huge honour to get to depict Captain Devi Sharan on screen. His efforts to save lives amidst chaos and dread is truly inspiring! A tale of resilience and honour.. of critical thinking and duty.. of patience and hope and most of all.. bravery. We salute you captain IC814 streaming on Netflix from 29th august. @anubhavsinhaa @netflix_in @matchboxshots”.

The series is based on the hijack of Indian Airlines Flight 814, an Indian Airlines Airbus A300 en route from Tribhuvan International Airport in Kathmandu, Nepal, to Indira Gandhi International Airport in Delhi, India, in December 1999. The flight was hijacked and was flown to several locations before landing in Kandahar, Afghanistan which was then under the control of Taliban.

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Categories
-Top News Columns India News

Is India Done With Crypto?

Bitcoin.

The India government is looking for more time to clarify the issue of taxing transactions on digital assets, writes Chetanya Mundachali

Cryptocurrency’s current status in India is a debate among financial experts, especially after the July 2024 budget that announced the status quo in tax regulations. However, experts expect the government to reduce tax deducted at source (TDS) on the transfer of virtual digital assets to 0.01 %.

Apparently, the government is looking for more time to clarify the issue of taxing transactions on digital assets.  While many view crypto as a boon, it has been banned by many others.  Many challenges and complexities surfaced over the impact of cryptocurrency or crypto – as it is colloquially known globally.

Cryptocurrency in the Indian Context

India is no stranger to the latest technologies around the globe, as the country has always opened its gates to technological innovations, be it social media giants such as Facebook, Twitter, Instagram or the introduction of cryptocurrencies such as Bitcoin, Dogecoin, etc.

Cryptocurrency was introduced in India in the nation’s effort to move toward a global cashless economy and meet India’s financial goals.

Cryptocurrency held a massive promise for venture capitalists who saw this digital currency as a promising future and were struggling to establish their crypto credentials.

The inspired crypto-enthusiasts invested heavily in cryptocurrency startups to the tune of $30–40 million. Crypto was hot in the global scenario, and these venture capitalists sought to find the next Flipkart and Phonepe as part of their digital portfolios. With crypto going mainstream, it seemed the next logical thing to do. Bullish reports across all finance newspapers showed the figure of at least 100 million crypto participants.

After being institutionalised globally, cryptocurrency became a booming commodity and a digital monetary figure for the Indian economy. Indian startups already generated a sizeable revenue of $100 billion over the last decade.

Hackathons already attracted thousands of young engineers, with colossal pay promises and a once-in-a-lifetime opportunity to reinvent the financial markets and the internet. Amidst the excitement, it seemed that India would turn around its GDP by 2030. With crypto going mainstream, it seemed the next logical thing to do. Bullish reports predicted India housed over 100 million crypto participants when only a few had participated in investment instruments.

When crypto was skyrocketing, it suddenly saw a steep downfall. The tide had turned. 

But prices were only half the problem in India. An equally thorny issue has been restrictive regulation under the central bank, the Reserve Bank of India, which has long opposed cryptocurrencies. The rise in the number of cybercrimes is another issue. It was effortless to go on to the Google Play Store and just Download Crypt—it was used by one and all. 

With apps such as “MyGov” and “Digilocker” that enabled Indians to go paperless, our digital revolution has already begun. PM Modi’s move to make India a cashless economy did see its ups and downs. 

New Delhi: Finance Minister Nirmala Sitharaman leaves to present the budget in Parliament in New Delhi July 23, 2024. (Photo: IANS)

Crypto has been viewed, debated, disregarded, and praised from various angles. However, an interesting angle from which to view and understand the failure of Crypto in India is from a cultural standpoint. India is a nation deeply rooted in its cultural conditioning, values, and ethics, which preach and praise stability, temperance, and balance. Large-scale adoption of something as volatile as cryptocurrency does not sit right with our teachings and core values.

Crypto assets are, by definition, borderless and require international collaboration to prevent regulatory arbitrage. Therefore, any legislation on the subject can be effective only with significant international cooperation in evaluating the risks and benefits and evolution of common taxonomy and standards. This is what the Finance Minister said.

The government of India was scheduled to introduce new cryptocurrency regulations during the Winter Session of Parliament. This was the second time the cryptocurrency bill was listed, but it was delayed.

Cryptocurrency in India does not have a centralised regulatory authority, and all crypto transactions are done at the investor’s risk. Finance Minister Nirmala Sitharaman has proposed taxing digital assets and has increased the debate on the legality of cryptocurrency in India.

While many have embraced the idea of taxing virtual currency in India, the government has yet to pass a formal resolution for whether Bitcoin and similar other currencies are legal. They are unregulated, but according to the recent Union Budget 2022, the government of India announced a 30% tax on gains from cryptocurrencies and a 1% tax deducted at source.

Indian crypto exchanges like WazirX, CoinDCX, Zebpay, etc., are witnessing a giant volume leap. An unregulated crypto market is unfavourable and risky even when the government wants to protect young entrepreneurs and investors. By introducing the Cryptocurrency Bill in 2021, the government officially took a step toward regulating cryptocurrency. The bill seeks a favourable structure for creating the official digital currency the Reserve Bank of India (RBI) issued. 

Call for regulation against crypto theft

Since its inception, cryptocurrency has proved to be an efficient virtual currency. However, it continues to face security risks and challenges from its biggest enemy-hackers. Recently, WazirX was hacked by North Korean hackers to the tune of $250 million from Indian investors. Consequently, the company had to freeze ongoing transactions between parties.

In 2022, $3.7 billion was stolen; in 2023, $1.7 billion was stolen in Crypto theft. 

Hacker threats cannot be ignored. The Indian crypto industry has voiced its concerns regarding the current taxation framework. During the recent budget announced in the Parliament on July 23, 2024, the government clarified taxation, and crypto exchanges are now strictly monitored and scrutinised under PMLA (Prevention of Money Laundering Act). The topic that surfaced was whether India would see a reduction in TDS and others currently in crypto.

Apparently, the solution is that taxation should be on par with other businesses, the TDS must be reduced from 1% to 0.01%, and a setoff of losses must be permitted.

Creating a vibrant Web3 ecosystem presents a unique opportunity for India to attract investments, create jobs, and become a global leader in this burgeoning technological revolution.

Budget 2024

However, after the nation’s budget for the year 2024-2025 was announced on July 23, 2024, in the Parliament, the Finance Minister announced that the rules for managing and monitoring crypto will remain unchanged.

The crypto industry has asked the Indian government to establish progressive taxes on gains instead of the recurring 30% flat rate and allow losses to offset gains. It has also pushed for multi-agency regulation for crypto. 

International approach to crypto

The notion of using crypto varies from nation to nation. For example, take the example of America. The USA has a dual governance system. New York has supported cryptocurrency since 2016, and it launched ‘Bit License,’ a licensing framework for managing cryptocurrencies.

However, the other states have a ‘mixed’ approach towards crypto. But overall, the US has taken a positive stance towards crypto. Conversely, the EU has opted for a softer regulatory framework for managing crypto for its 27 member countries and ensuring that citizens have smooth and secure access to managing crypto. Canada became the first country to adopt a Bitcoin Traded Fund (BTF), with some trading on the Toronto Trade Exchange. The United Kingdom gains taxes from crypto trading like any other paper currency trading. The businesses involved in cryptocurrency and crypto exchanges have to follow corporate tax rules. However, the UK has not passed separate legislation regarding the regularisation of cryptocurrency.

China, Nepal, Egypt, Morocco, and Qatar are some countries where cryptocurrency wasn’t welcomed. China, known for banning famous web giants such as Google and Facebook, took a negative stand against crypto. 

Prime Minister Narendra Modi attends the Union Budget 2024-25 being presented by Union Minister of Finance and Corporate Affairs Nirmala Sitharaman in the Lok Sabha during the Monsoon Session, at Parliament in New Delhi. (ANI Photo/Sansad TV)

Despite the uncertainty of crypto, it yet continues to grow on the International front, giving rise to new trading opportunities, and the future of this form of currency seems promising as long as governments strictly monitor crypto by deploying agencies and thus do not harm the interests of the economy and national security. Consequently, cryptocurrency can also increase job opportunities for security agencies deployed to monitor crypto transactions from the micro to macro level.

Will cryptocurrency survive in India?

Well, that’s probably a question for taxpayers! Financial experts have expressed worry over the fact that crypto can bounce back and hit harder on the Indian economy, especially when the nation is heading towards new ventures due to the impact of globalisation that has had its influence over the country for over three decades. Cryptocurrency as a virtual currency is on par with the current technological growth and can soon open new doors to similar innovations.

Categories
-Top News Columns India News

India And Reformed Multilateralism

India has been the biggest votary of strengthening multilateralism over the years. But, in a changed world, if the most populous country and the fifth largest economy, with a track record of multilateralism, democracy and a civilizational ethos of humanity, cannot be given its due in global governance, then there is need for reform, writes T S Tirumurti

T S Tirumurti

Multilateralism is in crisis. With every turn of events, multilateral systems and international organisations are being debilitated almost always at the cost of the Global South. The United Nations stands paralysed. Even as, on the one hand, international laws and agreements are adopted to strengthen the rules-based international order, on the other hand, these are being violated with impunity without accountability.

But the problem is much deeper. Majority of developing countries have become bystanders in the unravelling of the world order. Their only insurance i.e. universal participation in decision-making, is vanishing. Instead, they are being presented with two differing, even opposing, world views which they have been asked to subscribe to.

Almost all current problems, whether in the UN, WTO, IMF or the World Bank, can be traced back to the inability of the multilateral system to accommodate the new and emerging powers in the post-World War 2 architecture. Multilateralism is caught between those who fight to preserve the status-quo of 1945 and those who demand reform to reflect current realities which is more multipolar.  

India has been the biggest votary of strengthening multilateralism over the years. But, in a changed world, if the most populous country and the fifth largest economy, with a track record of multilateralism, democracy and a civilizational ethos of humanity, cannot be given its due in global governance, then there is need for reform. In fact, it was at the 10th annual summit of the BRICS in 2018 in Johannesburg, South Africa, that Prime Minister Modi proposed for the first time his vision of “reformed multilateralism” to give major emerging powers a voice in global governance. 

India’s track record in the recent past and its two-year stint in the UN Security Council (2021-2022) have numerous examples, if at all examples are required, of how we bridged or overcame differences to build a more inclusive multilateral world. Accosted with global challenges like covid, climate change, digital and AI divide, terrorism etc, and sprouting of conflicts which threaten international peace and security, India has become indispensable in finding solutions.

Lest we forget, when the world was reeling under covid, and countries were hoarding vaccines for themselves, it was India which came forward to produce and distribute vaccines. For our Vaccine Maitri, we prioritized small and vulnerable countries and saved numerous lives.

In December 2021, in UN Security Council (UNSC), we successfully thwarted a move to wrest climate change from the inclusive UN Framework Convention on Climate Change-led process (UNFCCC), where all countries are present, and bring it under the ambit of UNSC – effectively putting climate action at the mercy of five permanent members (P-5), who are the major historical polluters. India underscored that the draft resolution “seeks to hand over that responsibility to a body which neither works through consensus nor is reflective of the interests of the developing countries.” The draft was defeated through a vote since India voted against, while Russia exercised the veto. If it had succeeded, climate change architecture would have, by now, kept out the voice of the Global South, especially the most vulnerable and the Small Island Developing States. India yet again came on the side of inclusivity and multilateralism. It was in the same vein that India was instrumental in setting up the International Solar Alliance which now has 100 member countries.

G20 is now an influential plurilateral group consisting of major economies taking decisions on global economic and developmental issues which impact all other countries as well. However, a glaring lacuna was that it was not fully representative of the smaller and medium sized states of the Global South. To bridge this gap, when India took over G20 Presidency (2022-23), Prime Minister Modi convened the Voice of Global South Summit where 125 developing countries participated. TheSummit’s outcome was channelized into G20 discussions during India’s Presidency making sure that G20 took informed and inclusive decisions affecting the vast majority. In addition, India lobbied and inducted African Union into G20 – a huge step for a continent which has not been adequately represented either in G20 or UNSC or in other international bodies.

Needless to add, India has been at the forefront of efforts to reform the UN Security Council. Dealing with conflicts is the business of UNSC but inability to deal with them has become its hallmark. When the UN was established, there were 51 member states. Now we have 193. But we still have only five permanent members, who are polarized and have paralysed decision-making in the Council. The days when a small group of countries decided what the world should do are over. The logical fall-out of an unreformed Security Council is the emergence of other power centres to challenge it leading to fragmentation of the world order. Unless there is legitimate, representative and permanent representation of the Global South, especially that of the largest country India and a continent of 54 countries Africa, we cannot have meaningful decisions in the Council.

Our support to the developing world was reinforced during India’s stint in UNSC, where we stood for their territorial integrity, increased humanitarian assistance, correcting historical injustice, reform, development partnership, fighting terror and for peaceful resolution of disputes.

However, it was India’s independent and proactive stand during the Ukraine war which acted as a catalyst in helping other developing countries voice their dissatisfaction on a military solution being pursued and call for diplomacy and dialogue even in the midst of intense fighting and high emotions, when all levers were being weaponized. In effect, this was India saying that we do not have to choose sides between warring blocs however big or important they may be. This was India saying that we stand for another world view which seeks the path of dialogue over war, seeks an inclusive world over polarization and fragmentation, seeks independence of policy-making over coercion of small and medium states in their decision-making, seeks territorial integrity over occupation and seeks reformed multilateralism over status-quo or unilateralism.

(Ambassador (Retd.) T.S. Tirumurti is a former Indian Ambassador and presently Professor at IIT Madras)

ALSO READ: Geopolitics Of The Indo-Pacific

Categories
-Top News Columns World

Geopolitics Of The Indo-Pacific

Title : Sydney: Indian Navy take part in the 27th edition of Exercise MALABAR Caption : Sydney: Indian Navy's indigenously built Destroyer INS Kolkata, Frigate, INS Sahyadri & P8I Maritime Patrol Aircraft take part in the 27th edition of Exercise MALABAR with the navies of United States, Australia, and Japan on the East Coast of Australia off Sydney, on Tuesday August 22, 2023. (Photo: IANS/Twitter/@indiannavy)

It is easy to understand why the Indo-Pacific is important for democratic countries which believe in keeping sealines of communication open and advocate a rules-based maritime order, writes Dr Mohan Kumar

Way back in 1890, Captain Alfred Thayer Mahan, a lecturer in naval history and the president of the United States Naval War College, published The Influence of Sea Power upon History, 1660–1783, a revolutionary analysis of the importance of naval power as a factor in the rise of the British Empire. Mahan argued that British control of the seas, combined with a corresponding decline in the naval strength of its major European rivals, paved the way for Great Britain’s emergence as the world’s dominant military, political, and economic power. Mahan and some leading American politicians believed that these lessons could be applied to U.S. foreign policy, particularly in the quest to expand U.S. markets overseas.

The United States of America considers itself a maritime power and more recently, as an Indo-Pacific nation. The concept of Indo-pacific was first enunciated by the late Japanese leader Shinzo Abe in August 2007.  In a speech to the Indian Parliament, he said presciently: “We are now at a point at which the Confluence of the Two Seas is coming into being. The Pacific and the Indian Oceans are now bringing about a dynamic coupling as seas of freedom and of prosperity.”

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Building on the informal cooperation between US, Japan, India and Australia during the Tsunami that hit Asia in 2004, a quadrilateral security dialogue (hereinafter referred to as Quad) was suggested by the late Japanese leader Shinzo Abe in 2007. But by 2008, the initial enthusiasm wore off with both Australia and India at various times expressing reluctance. It took until March 2018 for the Quad to really be institutionalised. Geopolitics was evident when in one of the first reactions to this renewed initiative, the Chinese Foreign Minister then (and now) Wang Yi said it was a “headline grabbing” idea which will “dissipate like sea foam”. Well, the Quad is here to stay and far from dissipating like sea foam has gone from strength to strength, much to the angst of China. More on this later.

It is easy to understand why the Indo-Pacific is important for democratic countries which believe in keeping sealines of communication open and advocate a rules-based maritime order. The region is home to more than half the world’s population, and it accounts for 60 percent of global GDP as well as two-thirds of global economic growth. 

Chinese Foreign Minister Wang Yi and US Secretary of State Antony Blinken

Japanese leader Abe’s genius lay in enunciating an integral view of both the Indian and Pacific Oceans by arguing that maritime security is indivisible and inalienable. Of course, for the United States of America, Australia and Japan the Pacific Ocean is the world’s largest and deepest ocean covering more than 30 per cent of the Earth’s surface. The sheer economic importance of this in the form of minerals, oil & gas, fishing grounds etc cannot be overstated. It also matters because of climate and food security. Equally, from a geopolitical perspective, China wants the United States of America out of the Pacific so it can call the shots there. China views the US as an extraneous power which has no business being in the Pacific, which it considers as its own backyard. The US, on the other hand, considers itself as an Indo-Pacific power and recognises the region as vital to its security and prosperity. The United States has expressed determination to strengthen its long-term position in and commitment to the Indo-Pacific. With this in mind, the United States of America intends to focus on every corner of the region, from Northeast Asia and Southeast Asia to South Asia and Oceania, including the Pacific Islands. In a quickly changing strategic landscape, the United States of America believes its interests can only be advanced if it firmly anchors itself in the Indo-Pacific and strengthen the region  alongside its closest allies and partners.

India deciding to join and work with Quad countries is a strategic move of great import. It can even be described as the most important geopolitical strategy of India’s since the end of cold war. The reason for this important move must first and foremost be traced to China’s aggressive designs in the region. China believes it is entitled to a permanent maritime presence in the Indian Ocean. This is of recent vintage dating back to 2008. China believes while it is called “Indian Ocean” it is certainly not India’s Ocean! However, it does not admit of the same logic when it comes to South China or East China Sea; it can be argued equally that this is not China’s Sea after all! For India, there is a twin challenge posed by China: one which is maritime and the other which is continental. India cannot allow either the Indian Ocean or the Himalayas to be dominated by China. India knows that in the Himalayas, it must bear the cross all by itself. In the Indian ocean however, India is enlisting help from its partners and friends and has decided on a series of plurilateral or mini-lateral groupings to counter China. This is based on the sober assessment of a significant power differential between China and India.

Indian Navy’s indigenously built warship INS Sahyadri, mission deployed in Indo-Pacific, participating in the trilateral Maritime Partnership Exercise with the ships and aircraft from the Royal Australian Navy (RAN) and Indonesian Navy from 20-21 Sep 2023. (ANI Photo)

India is aware that the US and its Western allies are more focused on the Pacific theatre. This has led India to undertake several initiatives of its own in the Indian Ocean. Some of these are: Indian Ocean Naval Symposium which seeks to enhance maritime cooperation among the littoral states of the Indian Ocean region; SAGAR or security and growth for all in region; Colombo Security Conclave involving India, Sri Lanka, Maldives and Mauritius; and the Information Fusion Centre-Indian Ocean Region which enhances efforts to combat maritime security threats.  Finally, India is a part of the Indo-Pacific Partnership for Maritime Domain Awareness (IPMDA), a Quadrilateral Security Dialogue initiative that aims to offer an integrated and cost-effective awareness to its members so they can fully monitor the waters on their shores.

All this is to say that, geopolitics will continue to drive strategy of different countries in the all-important Indo-Pacific region.

(Dr Mohan Kumar is a former Indian Ambassador to France and presently Dean/Professor at O.P. Jindal Global University)

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Asia News Columns UK News

A PM committed to South Asian Communities

Sir Keir has demonstrated his full commitment to South Asian communities across our country. I would like to illustrate this with the appointment of an individual, who I have had the immense pleasure of getting to know over the last year or two and working with. Vidhya Alekson OBE – who was recently appointed Political Director at Number 10 … writes Professor Kishan Devani BEM

Sir Keir Statmer has shown not just in words but in action his undying commitment to the South Asian Diaspora in the UK. Whether it is through his own work in his Camden Constituency or through his own offices while he was Leader of the Opposition and now in Number 10.

Sir Keir has demonstrated his full commitment to South Asian communities across our country. I would like to illustrate this with the appointment of an individual, who I have had the immense pleasure of getting to know over the last year or two and working with. Vidhya Alekson OBE – who was recently appointed Political Director at Number 10.

Prime Minister Sir Keir Starmer with Prof. Kishan Devani BEM

Vidhya is an inspiration to many of us in the diaspora as she was appointed to this role by Sir Keir after the General Election victory, but prior to that Vidhya served as Sir Keir’s Director of External Relations & Stakeholder engagement – while he was Leader of the Opposition. Having worked with Vidhya, myself, I can say to the wider South Asian Community that there is not a better person for the role and that it is a matter of pride that we have a member of the South Asian Diaspora at the heart of Number 10. Her humiliy, passion and dedication to our country through her public service. Vidhya was previously instrumental in starting up Power to Change – an independent trust, established in 2015 to support and grow community-led businesses across England. She led the trust from 2015 to 2022. 

Prior to this, Vidhya was the deputy chief executive at the Resolution Foundation, an independent think tank focusing on living standards, and was also the mental health lead for the personal health budgets delivery programme at NHS England. Vidhya worked at the US Department of Health and Human Services in Washington D.C. from 2006-2010 and before that at the UK Treasury and the Prime Minister’s Strategy Unit. 

Vidhya Alakeson

Vidhya has a modern languages degree from the University of Oxford and an MSc from the London School of Economics. She is a former Trustee of the Young Foundation. This appointment in itself illustrates our Prime Ministers commitment to the South Asian Community, by having individuals such as Vidhya at the heart of Government is a matter of pride for all of us and shows Sir Keir’s commitment to our wider community. We now have a Labour Prime Minister in Number 10 who is committed to Equality, Diversity and inclusion.

With his formidable Cabinet, Parliamentary team and his Number 10 Team – he is a force for good and will bring about the change necessary to give South Asian Communities across our country the ability to thrive and flourish.

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China Columns USA

China’s strategic maneuver: BRICS counters NATO in disinformation war

On the evening of June 23, Chinese President Xi Jinping chaired the 14th BRICS Summit in Beijing via video link. South African President Cyril Ramaphosa, Brazilian President Jair Bolsonaro, Russian President Vladimir Putin and Indian Prime Minister Narendra Modi attended the Summit.(Photo:Xinhua/IANS)

BRICS is presented as a significant player in this multipolar scenario, while NATO is depicted as a Cold War leftover, excessively aggressive, and a source of global instability, writes Dr Rajesh Sharma

The Chinese government is actively trying to undermine NATO as the defence alliance shifts its focus towards the Asia Pacific, addressing the menace posed by the People’s Liberation Army (PLA). Following the recent NATO summit, China Military Online, the PLA’s official English news portal, stated, “Despite US Secretary of State Blinken describing the NATO Summit held on July 9 in Washington, D.C. as ‘the most ambitious summit since the end of the Cold War’, the organization, which has been around for 75 years, is facing significant internal and external challenges.”

The Chinese Communist Party (CCP) is employing tactics of misinformation to sway public sentiment towards the BRICS, led by China, and against NATO. Their objective is to contest the supremacy of the West and establish their own global order. BRICS, an international body consisting of Brazil, Russia, India, China, and South Africa, has expanded its membership to include Iran, Egypt, Ethiopia, and the United Arab Emirates (UAE) as of 2024.

Influencers of the CCP, state-regulated media, the “wumao” or 50 Cent Army, and automated bot accounts are vigorously disseminating propaganda on social media platforms. Their objective aligns with the CCP’s goal to supersede the United States as the leading economic, military, and diplomatic force. Lately, there has been a noticeable increase in efforts to portray BRICS as wealthier, more influential, and stronger than the Group of Seven (G7) and NATO.

BRICS, essentially a tool for the Chinese Communist Party (CCP) to bolster its influence and challenge the US, is portrayed in pro-BRICS messaging as a symbol of a multipolar world. In this depiction, power is shared among various global centres, unlike the Western-dominated NATO. BRICS is presented as a significant player in this multipolar scenario, while NATO is depicted as a Cold War leftover, excessively aggressive, and a source of global instability. NATO acknowledges being targeted by CCP’s disinformation campaigns aimed at undermining its unity. Conversely, BRICS is portrayed as a peaceful, cooperative group that respects sovereignty.

The Global Times, a CCP-backed outlet, claims NATO’s involvement in the Russia-Ukraine conflict could spark a global war. The CCP’s propaganda paints NATO’s actions as disturbing regional peace and meddling in Russia’s affairs. This narrative is tied to the international support for Taiwan, seen by the CCP as a breach of China’s sovereignty.

Propaganda often emphasizes BRICS for its economic collaboration and potential to establish a financial system alternative to the IMF and World Bank, dominated by the West. However, due to economic disparities and hesitance to relinquish national currencies, BRICS is merely a coalition without a free trade agreement or shared currency. It lacks a central bank, crucial for a common currency, and its only institution is the New Development Bank, a predominantly dollar-denominated development bank steered by China.

While the CCP encourages nations to distrust the US and NATO, recent wumao activities assert that BRICS possesses a stronger military than NATO. This claim is paradoxical as BRICS lacks defence agreements, unlike NATO, a defence alliance. The US, on its own, has greater military strength than either Russia or China, and its alliance with NATO nearly doubles this power. The US also maintains military bases in Saudi Arabia and the UAE and is enhancing its defence cooperation with India, a participant in the Quadrilateral Security Dialogue aimed at countering China’s aggression in the Indo-Pacific. These realities question BRICS’ portrayal as a military and diplomatic powerhouse.

NATO’s strength lies in its close ties with the G7 and the European Union. Many NATO countries are also part of the EU, enhancing its diplomatic and economic influence and expanding common interests. The G7, comprising some of the world’s largest economies, facilitates joint economic strategies and sanctions against China, Russia, and Iran. This alliance, coupled with the EU’s Common Security and Defence Policy, bolsters NATO’s military prowess and promotes cohesive responses to security threats, including those from the CCP. The combined diplomatic influence of NATO, the G7, and the EU covers a vast global area. The CCP’s efforts to undermine these Western alliances indicate Beijing’s awareness of BRICS’ comparative insignificance.

The CCP’s disinformation campaigns aim to sway public sentiment towards BRICS and away from NATO, especially in strategically crucial regions like Africa, Latin America, and Asia. This is evident in China’s emergence as a leading arms supplier to Africa and its growing influence in Latin America. The CCP employs military diplomacy to discourage nations from aligning with or supporting NATO, with the goal of curbing the alliance’s expansion into Asia. China is already a significant arms provider to heavily sanctioned Asian nations such as Burma (Myanmar) and is striving to increase arms sales to countries like Indonesia and other current and potential U.S. allies to create discord and undermine the cohesion of Western alliances.

Xi Jinping with Russian President Vladimir Putin.(photo:instgaram)

This social media activity is part of a broader geopolitical rivalry in which the CCP seeks to challenge Western dominance and promote its governance models. This use of social media is a key component of modern information warfare, in which winning hearts and minds is as crucial as traditional military engagements. By leveraging these tactics, the CCP aims to erode trust in Western institutions and reshape the global balance of power to its advantage.

Categories
Asia News Columns PAKISTAN

Crisis-Hit Pakistan Squanders Funds on Kashmir Event

A flood-affected woman prepares food in Jamshoro district in Pakistan's Sindh province on Sept. 8, 2022. (Str/Xinhua/IANS)

The Pakistani government has been spending a huge amount on observing the ‘Youm-e-Istehsal’ – an event to condemn India’s decision to revoke the special status of Jammu & Kashmir state. It is observed on August 5thevery year … writes Sakariya Kareem

Pakistan’s economy is in a dire state and a majority of its population is suffering from worst-ever food inflation. Yet, Islamabad’s priority remains inciting enmity with neighbouring India. The Pakistani government has been spending a huge amount on observing the ‘Youm-e-Istehsal’ – an event to condemn India’s decision to revoke the special status of Jammu & Kashmir state. It is observed on August 5thevery year.

Islamabad has not kept the observation of the ‘Youm-e-Istehsal’ event restricted to Pakistani cities but the embassies in different countries have been directed to mark the anniversary. South Africa, Afghanistan, New Zealand, Sweden, United States, China, Nepal, Austria, Kyrgyzstan, Maldives, Myanmar, Kazakhstan, Korea, United Arab Emirates, Switzerland, France, Japan, and Ghana are among the countries where Islamabad held the event.

Pakistani Prime Minister Shahbaz Sharif speaks in an interaction with foreign media in Islamabad, Pakistan, Aug. 30, 2022. (Photo by Ahmad Kamal/Xinhua/IANS)

Pakistani embassies in different countries regularly hold the Youm-e-Istehsal event, which adds a burden on its public exchequer. Pakistan’s foreign ministry has always been blamed for making inordinate expenses. Recently, Pakistani Prime Minister Shehbaz Sharif had to enforce austerity measures amid growing criticism about exorbitant expenditure on foreign matters. ​ 

The Auditor General of Pakistan has expressed concerns over the excess expenditure incurred by the foreign missions in its 2022-23 and 2021-22 reports. “(Foreign) Ministry incurred an expenditure of PKR 11.550 million against the budget allocation of PKR 38,373, resultantly excess expenditure of PKR 11.512 million (29,998.32 percent in excess) was incurred in violation of rules,” it said. The audit reports slammed foreign missions for irregular payments and mishandling of funds when holding events abroad.

Pakistan’s 68 percent population cannot afford a healthy diet and half of their earning goes into buying food. This led the World Bank to demand urgent reforms to strengthen Pakistan’s food system. However, Islamabad appears apathetic as its priorities are placed on inciting enmity with India by fuelling the Kashmir issue.   

It seems a political compulsion for Pakistani leaders to keep the Kashmir controversy alive to keep the local population calm and distracted from seeking basic rights. “For Pakistan, Kashmir stands as its jugular vein. Altering its status poses challenges to Pakistan’s security and integrity,” admitted former Pakistani Prime Minister Imran Khan. 

Notably, the local people of Jammu & Kashmir have not ever held any such event to condemn the move to fully integrate the region with the rest of India. It has seen bloodshed for decades, which India claimed was supported by Pakistan. Now the revocation of special status has ensured the infrastructure and human development in Jammu & Kashmir occurred at a faster rate.

Leaders from different countries including the US and Russia have clarified that the Jammu & Kashmir issue is an internal matter of India. US Congressmen including Scott Perry said the Indian decision to revoke Article 370 of the Constitution led to the welfare of local people and economy. He said it allowed India to “address the stagnant economy and high youth unemployment plaguing the region by providing economic opportunity and sound governance.”

UK parliamentarian Bob Blackman was among the big voices that supported revocation of the special status of Jammu & Kashmir. He said those who migrated out of Kashmir due to alleged Pakistan-sponsored militancy could return to their homes. “Kashmiri Pandits must be guaranteed right of return after they were the victims of ethnic cleansing and this move should prevent any other minority groups being forced to leave the Kashmir Valley,” he said.

While Islamabad raises the issue of the plight of Kashmiris in Jammu & Kashmir, the situation is very bad for those Kashmiris living in Pakistan-controlled Kashmir. In Jammu & Kashmir, the unemployment rate is just 4 percent where as it is a staggering 14.4 percent in Pakistan-controlled Kashmir. In Jammu & Kashmir, the per capita income is USD 950, which is almost five times that in Pakistan-controlled Kashmir.

When the people of Kashmir, experts, and global leaders welcomed the change in the status of Kashmir, Pakistan’s criticism seemed irrelevant and futile. Yet, Pakistan continues to spend a huge sum of money on the event of ‘Youm-e-Istehsal’. Pakistani leaders harped on resolving the alleged problems of Muslims living in Jammu & Kashmir when the average Muslim in Pakistan is struggling to earn daily bread and butter.

Pakistani journalist Imad Zafar said activities by Islamabad such as observing Youm-e-Istehsal or printing a map showing Indian areas inside Pakistan’s territory would not help Kashmiris. “Maps do not change realities, and a country only has control of those areas under its administration. Everything else is dreaming, perhaps for the consumption of respective audiences. In Islamabad’s case, it is the Kashmir dispute that justifies billions of dollars of investment on defense,” he said.