Tag: the United States

US top official calls Khalistani attacks ‘deeply regrettable’, says will ensure Indian diplomats feel safe

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Kurt Campbell, the US National Security Council’s coordinator for Indo-Pacific affairs, termed the attack by Khalistani radicals on Indian Consulate in San Francisco “deeply regrettable”. Speaking with news agency ANI, he said, “We take very seriously the safety and security of diplomats that are living in the US.”

“We have been in close contact with the Indian authorities, local law enforcement. We are trying to take necessary steps to ensure that Indian diplomatic community feels safe and secure here and will continue with their work,” Campbell said on Thursday.

#WATCH | Washington, DC | On Khalistani attack on Indian Consulate in San Francisco, Kurt Campbell – the US National Security Council’s coordinator for Indo-Pacific affairs says, “These are deeply regrettable events. We take very seriously the safety and security of diplomats… pic.twitter.com/BLhJtkPvE1

— ANI (@ANI) July 6, 2023

Campbell’s statement came days after a group of Khalistan radicals set the Indian Consulate in San Francisco, United States, on fire. The incident wa took place on July 2. No major damages were caused or staffers were harmed, reports said.

A video by Khalistan supporters, dated July 2, was also posted on Twitter. It showed the act of arson at the Indian Consulate in San Francisco. The video, with the words “violence begets violence” emblazoned over it, also showed news articles related to the death of Canada-based Khalistan Tiger Force (KTF) chief Hardeep Singh Nijjar, news agency PTI reported.

This was the second time within months that the Indian Consulate in San Francisco came under attack from Khalistani supporters. The Indian Consulate in San Francisco was attacked on March 20. The same month, Khalistan supporters protested outside the Indian Embassy in Canada. Pro-Khalistani protests also happened in the United Kingdom (UK) on March 19.

The Khalistan movement is a Sikh separatist movement that seeks to establish a sovereign state in the Punjab region called Khalistan (‘Land of the Khalsa’), according to reports.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

American dream gone sour: Couple from Gujarat trapped and tortured in Iran, video goes viral

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Such is the charm of the US in the minds of a few people that they are ready to go any distance to get there. If they are unable to go there directly they will opt for the other way around, after visiting different countries even scaling a wall and putting their lives at risk.

Dingucha and many other cases are a great testimony to these kinds of incidents.  Now, a new case has come to the fore from Gujarat. A Gujarati couple chasing the American dream has to undergo severe torture in Iran after paying a hefty sum to an agent. The captors even made a video of the torture and send it to the family members demanding ransom.

As per the details available, this Gujarati couple was taken to Iran the on pretext of sending them to America. In Iran, they were held hostage, harassed and tortured for money. The victims have been identified as Pankaj Patel and his wife Nisha, who live in Krishnanagar, Ahmedabad.

In this horrifying video, Pankaj Patel is seen being tied up and tortured by his captors. He has been put to sleep and a person is injuring him on the back with a sharp weapon.  Pankaj was heard begging the family members to comply with the demands of the captors.

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One of the relatives of Pankaj informed the police about the incident and the police are investigating the matter. They say that the video could be captured in Iran or in Hyderabad.

The Crime Branch has taken over the case after the torture video went viral.

According to the information received from the family, Pankaj Patel had given Rs 1.15 crore to an agent named Abhay Rawal to go to America.  The agent disappeared after taking the money.

While chasing the dream of moving to America, this couple from Ahmedabad was first taken to Hyderabad. After staying there for five-seven days, they along with five other couples were shifted to Iran, according to local media reports.

Dingucha’s case

Dingucha’s case shows how desperate are the families to move to America. Settling abroad has become a trend in this small Gujarati village. There are about 300 Dingucha families in the US. People here are ready to pay any price to chase their dream.

Last year, four members of a family from Dingucha near Gandhinagar died in Canada while trying to illegally enter the US through the Canadian border. The family was first flown to Dubai. Later, they were taken to Canada. The plan was to enter the US illegally via Toronto and Winnipeg. Unfortunately, the four members of a family, including two children, died after being hit by snow in Winnipeg.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

PM Modi’s meeting with President Biden to deliver substantial outcomes on semi conductors, defence and critical technology

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Prime Minister Modi’s visit to the United States next week will be truly historic and the visit will deliver substantial outcomes on semi conductors, defence and critical & emerging technology. That was the message from Jake Sullivan, the US National Security Advisor who was in Delhi for preparatory meetings ahead of the Prime Minister’s state visit next week.

Narendra Modi will only be the third leader, who President Biden would be hosting for a state visit.​ On Wednesday, Sullivan said that hard work and celebrations will accompany this high level visit.

Sullivan said, the high level meetings between US and India next week would deliver results on a range of issues including, defence co production, semi conductors, AI, deployment of 5G, 6G and OpenRan. Both leaders will spend a lot of time together, he said.

Speaking to journalists Sullivan said, that there would be substantial results on India-US cooperation on semi conductor supply chains. “US and India are working on ways to promote semi conductor manufacturing in India. US has invested resources in reshoring semi conductor supply chain to US but we would like to contribute to semi conductor manufacturing in India. This is one area we would like to make rapid progress and show results”, he said.

The US NSA also said that there would be announcements on training Indian engineers, designers, startups in every aspect of semi conductor manufacturing and value chains. There would be agreements between research organisations of India and US for work on future collaboration on semi conductor applications. 

A multi billion dollar deal between GE and HAL is also likely to be signed during the Prime Minister’s visit. Without commenting on the contours of the deal, Sullivan said, 

“The President has directed every element of the US government to remove unnecessary barriers to defence technology cooperation with India. He wants to make good on the long standing promise to deepen cooperation on co production and co development. This includes co production of critical defence technology here in India.” 

“GE engine technology is an exquisite and important technology. We don’t regard any one project as a sum total of the relationship. GE deal will build momentum for greater integration of defence supply chains, co develpopment, technology transfer which is in India and US interests.”

Sullivan conceded that removing regulatory hurdles and easing export controls on transfer of defence technology to India was long past due and US was now focusing on removing these barriers through executive actions.

“There are legislative proposals to make adjustments to regulatory controls for tech transfer. We have had productive discussions with both Democrats and Republicans on these”, he added. 

Both leaders will also spend time on Artificial Intelligence. “AI is going to be so tranformative for our societies, economies and national security. It is important to align approach to AI and have joint research”, he said.

Reacting to a Reuters report about sale of more Guardian drones to India, Sullivan said that US was talking to India about sale of defence material which would help India increase its maritime domain awareness.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

First Republic Bank’s stock crashes as hopes for rescue plan fade

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Tyre Nichols police encounter: What the latest bodycam and CCTV footage shows

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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Following a confrontation with the police in Memphis, 29-year-old Tyre Nichols died on January 10, 2023, due to his injuries. An independent autopsy report said that he “suffered excessive bleeding caused by a severe beating.”

The Memphis Police Department released the bodycam and CCTV footage of the January 7 encounter between Nichols and the police.

Officials released four videos of the incident which show five police officers punching, kicking, and beating him with batons all the while Nichols did not try to resist or fight back. The highly violent and expletive-filled video also shows how Nichols did not receive medical aid in time. Three of the videos were from body cameras on the police officers involved in the beating and one was from a police surveillance camera mounted on a nearby pole.

[Full video] City of Memphis releases video clips that show police beating Tyre Nichols, a former Sacramento resident.

The five officers charged with Nichols’ beating and death have been released from jail on bail. https://t.co/IYqEK2nYpD #TyreNichols #TyreNicholsVideo pic.twitter.com/Log485e3ap

— Matthew Keys (@MatthewKeysLive) January 28, 2023

The video shows the first encounter between the police and Nichols at 8:24 pm when they stop Nichols at a traffic signal. While Nichols remains calm and cooperative, the officers can be seen immediately pulling their guns on Nichols and dragging him out of the car. One policeman yells, “Get the fuck out of the car” while another says, “Get the fuck on the ground and turn his ass around.” Nichols responds by saying, “I didn’t do anything.”

The officers then pin Nichols to the ground while one officer yells at him to put his arms behind his back even though another officer has his arm in a vice grip. All the while officers are threatening to tase Nichols and break his arm.

“You guys are doing a lot right now. … I’m just trying to go home. I am on the ground!” shouted Nichols in response.

Within a minute and with no apparent sign of resistance from Nichols, an officer uses pepper spray on Nichols, which also catches some of the other officers in the scuffle. At this point, Nichols breaks away and runs off towards his mother’s house and a police officer attempts to taser him unsuccessfully. Eight minutes later, the officer caught up with Nichols at 8:33 pm. The footage shows at least three officers standing above Nichols, who is lying on the ground, punching his head and pepper spraying him again. At this point, Nichols screams for his mother, whose house is less than 75 metres away.

Footage from the surveillance camera clearly shows Nichols being beaten for the next three to four minutes while the bodycam footage from the cops captures audio of the officers still asking for Nichols to “give me your hands” even as they punch, kick and baton him.

The cops pull Nichols to his feet with his hands held behind his back and punch him straight in the face without letting him drop to the ground. “I’m going to baton the fuck out of you. Give me your fucking hands,” one officer can be heard yelling.

They’re literally just passing him around between officers who want a swing… #TyreNichols pic.twitter.com/M0SIfNqIbO

— James Kozanitis (@JamKozy) January 28, 2023

While the beating stops when two more police cars arrive at the scene, no one helps Nichols, who is obviously distressed and heavily injured at this point. Even though the emergency medical team arrives at 8:41 pm, Nichols is not taken away until 16 minutes later.

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Memphis Police chief Cerelyn Davis said that the police department reviewed the footage and found no probable cause for why Nichols was stopped in the first place. Davis also stated that footage showed “acts that defy humanity … a disregard for life, [the] duty of care that we’re all sworn to and a level of physical interaction that is above and beyond what is required in law enforcement.”

District Attorney Steve Mulroy asked the Tennessee Bureau of Investigation to conduct a probe on the use of excessive force in the incident while at the federal level, the US Department of Justice and the Federal Bureau of Investigation (FBI) also opened their respective investigations.

The five police officers involved in the incident — Tadarrius Bean, Demetrius Haley, Emmitt Martin III, Desmond Mills Jr., and Justin Smith – have all been fired. They also have been charged with murder, kidnapping, assault, and misconduct. Though the five were arrested, they were shortly out on bail. The medical responders who had arrived at the scene have also been suspended pending an investigation.

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US President Joe Biden said he was “outraged and deeply pained” over the incident.

Police brutality and complaints of the use of excessive force by police officers remain a major concern in the United States. The country has the highest number of deaths caused by police officers of any other developed country in the world.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

US economic growth beats expectations; weekly jobless claims fall

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The U.S. economy grew faster than expected in the fourth quarter as consumers maintained a solid pace of spending, but momentum had slowed significantly by the end of the year, with higher interest rates eroding demand.

The Commerce Department’s advance fourth-quarter gross domestic product report on Thursday also showed growth getting a big boost from a sharp rise in inventory accumulation, some of which is likely unwanted. Business spending on equipment contracted in the fourth quarter.

It could be the last quarter of solid growth before the lagged effects of the Federal Reserve’s fastest monetary policy tightening cycle since the 1980s are fully felt. Most economists expect a recession by the second half of the year, though a mild one compared to previous downturns, because of extraordinary labor market strength.

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Retail sales have weakened sharply over the last two months and manufacturing looks to have joined the housing market in recession. While the labor market remains strong, business sentiment continues to sour, which could eventually hurt hiring.

“The U.S. economy isn’t falling off a cliff, but it is losing stamina and risks contracting early this year,” said Sal Guatieri, a senior economist at BMO Capital Markets in Toronto. “That should limit the Fed to just two more small rate increases in coming months.”

Gross domestic product increased at a 2.9 percent annualized rate last quarter, the government said in its estimate on Thursday. The economy grew at a 3.2 percent pace in the third quarter. Economists polled by Reuters had forecast GDP would rise at a 2.6 percent rate.

Robust second-half growth erased the 1.1 percent contraction in the first six months of the year. For 2022, the economy expanded 2.1 percent, down from the 5.9 percent logged in 2021. The Fed last year raised its policy rate by 425 basis points from near zero to a 4.25 percent-4.50 percent range, the highest since late 2007.

Consumer spending, which accounts for more than two-thirds of U.S. economic activity, helped to power growth, mostly reflecting a rebound in goods spending at the start of the quarter, mostly on motor vehicles. Consumers also spent on services like healthcare, housing, utilities and personal care.

Spending has been underpinned by labor market resilience as well as excess savings accumulated during the COVID-19 pandemic. Income at the disposal of households after accounting for inflation increased at a 3.3 percent after rising at a 1.0 percent pace in the third quarter. The saving rate rose to 2.9 percent from 2.7 percent.

But demand for long-lasting manufactured goods, which are mostly bought on credit, has fizzled and some households, especially lower income, have depleted their savings.

As a result, inventories surged at a $129.9 billion rate compared to a $38.7 billion rate in the prior quarter. Inventories added 1.46 percentage points to GDP growth. Stripping out inventories, government spending and trade, domestic demand increased at only a 0.2 percent rate, decelerating from the third quarter’s 1.1 percent pace.

U.S. stocks opened higher. The dollar was steady against a basket of currencies. Prices of U.S. Treasuries fell.

ROLLING RECESSION

Despite clear signs of a weak handover to 2023, some economists are cautiously optimistic the economy will skirt an outright recession, suffering instead a rolling downturn where sectors decline in turn rather than all at once.

They argue that monetary policy now acts with a shorter lag than was previously the case because of advances in technology and the U.S. central bank’s transparency, which they said resulted in financial markets and the real economy acting in anticipation of rate hikes.

Residential investment suffered its seventh straight quarterly decline, the longest such streak since the collapse of the housing bubble triggered the 2007-2009 Great Recession, but there are signs the housing market could be stabilizing.

Mortgage rates have been trending lower as the Fed slows the pace of its rate hikes.

A separate report from the Labor Department on Thursday showed initial claims for state unemployment benefits dropped 6,000 to a seasonally adjusted 186,000 for the week ended January 21, the lowest level since April 2022.

The number of people receiving benefits after an initial week of aid, a proxy for hiring, increased 20,000 to 1.675 million for the week ended January 14.

Companies outside the technology industry as well as interest-rate sensitive sectors like housing and finance are hoarding workers after struggling to find labor during the pandemic.

Also Read: Indian digital economy can touch trillion dollars over next few years: Rajeev Chandrasekhar

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

On SCO sidelines, Putin-Jinping set to meet and Modi may meet China’s Xi

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The two-day Shanghai Cooperation Organization (SCO) Summit (September 15-16) is set to kick off today with all eyes focused on leaders from the member states meeting on the sidelines, particularly — Russia’s Vladimir Putin, China’s Xi Jinping, Indian Prime Minister Narendra Modi and Pakistan’s PM Shehbaz Sharif.  A much-anticipated meeting is between Russia and China amid the ongoing Ukraine war and the more recent border clashes between Armenia and Azerbaijan in the caucus region.

The Russian delegation has provided a schedule to the media showing that Russian President Putin is set to meet his Chinese counterpart Jinping in Uzbekistan early on Thursday afternoon. According to a Reuters report, they are likely to hold a three-way meeting with Mongolian President Ukhnaa Khurelsukh as well.

Ahead of the meeting, here’s a look at the agenda for the Russia-China meeting:

The West vs Russia and China

Russia and China have cozy and warm bilateral ties and according to a 2022 Democracy Perception Index (DPI), even the citizens of the two countries hold positive opinions about each other. The other common variable in the ties between the two nations is their frosty relationship with the US-led West, more in the case of Moscow since the start of the Ukraine war.

For starters, as Russia’s invasion of Ukraine unfolded over the past few months, Putin-led Russia has faced severe economic sanctions imposed by the US and its allies. Reeling under a tough sanctions regime, Russia is facing a stiff resistance in Ukraine with the latest developments indicating Ukraine reclaiming a substantial chunk of its territory, about 8,000 square kilometres of land, in a surprise counter-offensive reportedly boosted by Western aid and weapons.

For China, even as Beijing and Washington ties have remained tense over trade issues since the Trump era, the latest thorn has been the visit of multiple US dignitaries to Taiwan, including House Speaker Nancy Pelosi. China considers Taiwan (often referred as Formosa) as its own territory and has responded aggressively to countries reaching out to Taipei. During Pelosi’s Taiwan visit, Chinese forces carrying out “largest-ever military drills” around the island nation, in what was seen as a retaliation to US visits.

Not just that, another irritant in the US-China ties is Beijing backing Putin’s “military operation” in Ukraine. And, in turn, Russia backed China over Pelosi’s visit, calling the latter’s move provocative.

Putin-Xinping meet — Ukraine and Taiwan in focus

Amid such a geopolitical milieu, the two powerful leaders will discuss the Ukraine conflict in depth, as well as the Taiwan issue, during the meeting in Uzbekistan, Russian Times quoted Kremlin representative or presidential aide Yury Ushakov as saying.

He said the leaders, in their “long-anticipated personal contact”, will also address “the bilateral agenda, as well as major regional and international topics.” The two sides are also expected “to positively assess” their bilateral strategic partnership.

On the issue of the Russia-Ukraine war, Ushakov noted that Beijing “clearly states that it understands the reasons that had forced Russia to launch the special military operation” against Kyiv in February this year.

Calling the meeting “a working meeting of the leaders”, Ushakov said the two nations “do not intend to sign any documents”.

Russia-China trade relations

According to a report in the Times, Chinese companies, especially technology firms and automakers have seized business opportunities in Russia as Western firms have exited en masse. Meanwhile, Russia remains China’s top oil supplier.

About SCO Summit and India

The SCO Summit in Uzbek capital Samarkand will be held on September 15-16. It will be attended by a number of high-ranking officials and heads of state, including Indian Prime Minister Narendra Modi, Pakistan Prime Minister Shehbaz Sharif and Turkish President Recep Tayyip Erdogan.

On the sidelines of the SCO event, several other meetings including that of India and China and India and Iran are expected to take place. There is also an expectation of a meeting between PM Modi and China’s Jinping. The two leaders had last met in 2019 and if the meeting takes place, it will be the first between the two leaders after the clashes between the Indian Army and People’s Liberation Army in Ladakh’s Galwan.

Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Risk of developing Alzheimer’s after COVID-19 higher in senior citizens: Study

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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A new large-scale study has found that elderly people, who have suffered from COVID-19, are at a significantly higher risk of developing Alzheimer’s disease. The study found that individuals aged 65 and above have a 50 to 80 percent higher chance of developing Alzheimer’s within a year when compared to others. The study was recently published in the Journal of Alzheimer’s Disease.

While the study clearly shows that contracting COVID-19 can nearly double the risk of developing memory loss diseases among senior citizens. However, it is not yet clear to scientists whether COVID-19 is just merely accelerating Alzheimer’s in those who are already suffering from it or triggering it to appear in other elderly people.

The research highlights the growing body of evidence of how COVID-19 infections can affect individuals with more diseases than expected earlier. With the sheer number of infections of COVID-19 around the world, the doubling risk of Alzheimer’s can result in a new epidemic of Alzheimer’s.

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“If this increase in new diagnoses of Alzheimer’s disease is sustained, the wave of patients with a disease currently without a cure will be substantial, and could further strain our long-term care resources,” Pamela Davis, the study’s co-author said.

The scientists used the data of 6.2 million adults of 65 years old and above in the United States, who received treatment between February 2020 and May 2021 and had no previous diagnosis of Alzheimer’s. Of these, 4,00,000 people had contracted COVID-19 while 5.8 people were put in the control group, who hadn’t contracted COVID-19 before. The scientists found that the risk for developing Alzheimer’s shot up from 0.35 percent to 0.68 percent after contracting COVID-19.

This is not the first time that COVID-19 infections have been linked with a higher risk of developing neurological conditions. Studies have found higher chances of developing dementia, substance abuse disorder and even brain stroke among those who recovered from Covid-19.

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Elon Musk forms several ‘X Holdings’ companies to fund potential Twitter buyout

3 Mins Read

Thursday’s filing dispelled some doubts, though Musk still has work to do. He and his advisers will spend the coming days vetting potential investors for the equity portion of his offer, according to people familiar with the matter

KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow

Rural Indians rush to study abroad as prospects dim at home

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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When 19-year-old Sachin failed to score the grades, he needed to get into a good Indian college. His father, a small shopkeeper, took a loan and dug deep into the family savings to help him secure a Canadian student visa.

The 2 million rupees ($25,035) they scraped together covered the fees for English language tuition provided by Western Overseas, one of dozens of visa consultancies in Ambala, about 250km from of New Delhi, that promise better lives through study overseas.

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“My dream is to settle abroad as I see no future in India,” said Sachin, who uses only a single name. He now plans to fly to Canada where he hopes to complete a two-year diploma in business management and eventually secure a longer work visa.

While middle-class Indians have for decades sought better prospects in other countries, worsening economic conditions are now driving families from poorer rural areas like Sachin’s to make big investments to set up new lives for their children overseas.

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Sachin says his two friends now in Canada earn about C$1,200 ($918) a month through part-time work while studying for diplomas.

With many countries now lifting COVID restrictions, the number of Indian students heading to places like the United States, Canada, Australia, UK, Ireland and New Zealand was almost one million in early 2022, roughly doubling from pre-pandemic levels, according to government and industry estimates.

Consultancies like Western Overseas provide coaching for English language proficiency tests, services for course selection, visa application processing, travel and even placements for part-time work.

In Sydney, Catriona Jackson, chief executive of Universities Australia, said more than 76,000 Indian students were now pursuing education in Australia, which is expected to accelerate after both countries signed a bilateral trade pact this year.

Many are applying for short courses in Canada and Australia driven by increasingly bleak job prospects at home and as Western governments loosen immigration requirements to fill university and job vacancies.

The overseas education market is estimated to more than double to $80 billion by 2024 from about $30 billion, according to a 2021 report from Red Seer, a consultancy, as global incomes and middle-class aspirations rise.

The increasing cost of private education and falling job opportunities in the public sector and manufacturing in India have forced thousands of families to mortgage properties or take bank loans for overseas education, visa consultants said.

Not even a 7 percent decline in the Indian rupee this year has deterred families from forking out the fees.

“The return on investment is very, very good,” said Piyush Kumar, South Asia head of IDP Education.

The Melbourne-based company sends Indian students to English-speaking countries including Canada, United States, UK and Australia.

The company plans to open 27 offices in small towns across India this year, encouraged by a more than 90 percent rise in enrolments after two years of the pandemic, he said.

DAZZLING PROSPECTS

Several foreign universities and their local partners are organising education fairs at costly five-star hotels and through virtual sessions in small towns to woo students.

At one such event, over 500 students gathered recently to explore opportunities with over 40 universities from Australia and Canada at a luxury hotel in Chandigarh, about 40 km from Ambala.

Gagandeep Singh, a small businessman from nearby Dera Bassi town, came with his daughter, who has received offers from some Australian universities.

“I have zeroed in on the University of Canberra, from where my sister has done Masters in Pharmacy,” said Jashandeep Kaur, Singh’s daughter, citing women’s safety and career prospects as her main considerations.

Improved internet access in recent years has allowed visa consultancies to reach new markets in rural areas, in addition to traditional advertising channels.

“We publish our success stories on Facebook and other platforms,” said Bhupesh Sharma, marketing head of Western Overseas, which has expanded to nine major cities in northern India and sent nearly a thousand students overseas.

“We aim to send about 5,000 students abroad this year,” said Pradeep Baliyan, its founder, adding they had also opened branches in Australia and Canada offering job placement services.

With over 300 million students in school and growing numbers seeking higher education, India is struggling to provide enough college spots and jobs for its young.

Prospects for women are particularly bleak, with a participation rate of just 25%, the lowest among major economies. That, coupled with the elimination of millions of salaried jobs in the last few years, has driven many Indians out.

PULL FACTOR

Indeed, many Western nations can’t reopen fast enough after two painful years of pandemic travel restrictions starved their economies of foreign labour and universities of full fee-paying international students.

In particular, the continued absence of Chinese students, with Beijing’s strict zero-COVID border policies still in place, has made Indian students even more important and intensified competition in the global education sector for their fees.

“The ease of securing permanent residency has become a big draw for Indian students rushing to Canada,” Rahul Oswal, the founder of consultancy Wisdom Overseas, said.

Compared with the UK and the United States, Canada’s post-graduate work and residency programmes are much more flexible, he added.

Canadian universities are tying up with international consultancies such as ApplyBoard and IDP to tap the booming demand for foreign education in India’s hinterland.

“We have a partnership with universities on one hand and on the other, tied up with local immigration services in India,” said David Tubbs, director of marketing communications at ApplyBoard, which runs an online platform for international student recruitment.

These agencies host about eight to 10 fairs a year including one large conference for the busy September intake and one in May, he said. A recent recruiters workshop in New Delhi drew more than 1,100 people.

According to ApplyBoard, Canadian academic institutions are more affordable than the UK, Australia and the United States. Canadian annual international undergraduate tuition costs averaged C$32,019, while graduate tuition costs averaged C$19,252, Tubbs said.

NO MORE IRON RICE BOWL

Despite the promises, the passage to a new life in the West is neither easy nor guaranteed.

Many visas are currently stuck in limbo in places like Australia as immigration officials struggle to clear a backlog of applications made during the pandemic.

The costs of studying and living in countries like Canada, Australia and the United States are also extremely high for lower-income Indians.

“It is a huge amount, paying thrice the amount that a domestic student pay is a major problem we face, especially when it gets converted into Indian currency,” said Nitika Mishra, a student studying broadcasting at Fanshawe College in London, Ontario, said.

Yet even with the rupee around record lows, it’s a risk many Indians remain willing to take.

Every year, Ambala, a British colonial-era army cantonment, has typically drawn hundreds of youth into the military with the prospect of lifetime employment.

Recent amendments to India’s armed forces recruitment programme, however, have slashed benefits and tenure, downgrading one of the few avenues for social mobility in the country of 1.4 billion.

That triggered violent protests in some places in June and has forced thousands to reconsider their career paths.

“I prepared for two years, and had appeared for a written test to join the army. But now, I see no incentive to join,” said Vijay Chauhan, 18, taking English language classes at Western Overseas, where Sachin also did his visa preparation.

“There is no option but to quit India.”

($1 = 79.8875 Indian rupees)

($1 = 1.3067 Canadian dollars)

(Additional reporting by Anushree Fadnavis; Editing by Mike Collett-White and Sam Holmes)

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Key US growth measures diverge, complicating recession debate

KV Prasad Jun 13, 2022, 06:35 AM IST (Published)

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The government’s main measures of US growth pointed in different directions in the first half of 2022, adding to the ongoing debate on the health of the economy.

Inflation-adjusted gross domestic product, or the total value of all goods and services produced in the economy, decreased at a 0.6 percent annualized rate in the April to June period, Commerce Department data showed Thursday.

That reflects an upward revision to consumer spending and compares with a previously reported 0.9 percent contraction.

However, the other, lesser-known official measure of economic growth — known as gross domestic income — climbed at a 1.4 percent rate in the second quarter after increasing 1.8 percent in the first three months of the year. It measures activity by calculating all income generated from producing those goods and services, like compensation and company profits.

Theoretically, GDP and GDI should be roughly equal, but in reality, they tend to differ, especially in early estimates. But the current gap is particularly large.

The GDP figures suggest an abrupt slowdown in economic momentum in the first half of the year. Under the surface, there’s more at play, including the impact of volatile categories like imports and inventories, but overall, consumer spending has decelerated. The back-to-back negative quarters, a common rule of thumb for recessions, have not only fueled fears of an imminent downturn but also led some to believe it was already under way.

GDI, however, points to a more gradual cooling. It paints a picture of an economy supported by a robust labor market and resilient consumer spending, though one that’s starting to feel the pinch of the worst inflation in a generation.

Recession Arbiter

The official arbiter of recessions in the US, the National Bureau of Economic Research’s Business Cycle Dating Committee, uses the average of both measures, along with a range of other economic variables, when making its recession call. The average of GDP and GDI rose 0.4 percent in the second quarter after a 0.1 percent increase in the January to March period.

Separately on Thursday, a report showed applications for US unemployment benefits fell for a second week, suggesting that employers are holding on to workers despite growing economic uncertainty.

Consumer spending, which accounts for the majority of the economy, expanded an upwardly revised 1.5 percent. That compares with a previously reported 1 percent gain.

Thursday’s report also included the government’s initial estimates of corporate profits in the second quarter. Adjusted pretax corporate profits increased 6.1 percent from the prior quarter — the fastest pace in a year — after falling 2.2 percent in the first three months of the year. Profits are up 8.1 percent from a year earlier.

Inventory Drag

Along with consumer spending, private inventory investment was revised higher though remained a drag on the headline figure. Residential fixed investment was adjusted lower, the data showed.

Looking ahead, forecasters expect GDP to bounce back in the third quarter but recession fears remain elevated. The Federal Reserve is aggressively raising interest rates in an effort to cool the economy enough to stem price pressures without causing a recession. So far, the clearest impact for consumers has come in the form of a jump in mortgage rates and ensuing sharp slide in the housing market.

Fed Chair Jerome Powell could point to such developments as evidence that the central bank’s policies are working at its annual Jackson Hole symposium, which starts later Thursday. Powell is due to speak Friday morning, when he’s expected to restate the Fed’s resolve to keep raising interest rates to get inflation under control.

Corporate Profits

Companies have sought to pass the rising cost of materials and labor onto consumers in the form of higher prices, weighing on Americans’ ability to spend. Some firms have been able to offset the slip in demand by charging more of their customers, but others, like Target Corp., saw inventories swell, forcing the company to employ steep discounting to clear stockpiles.

While companies report individual profits based on historical costs, the government adjusts the figures to reflect the current cost of replacing capital stock such as equipment and structures. Due to surging inflation, the current replacement costs are much higher.

Excluding that adjustment, as well as one for inventory valuation, after-tax profits climbed 10.4 percent in the second quarter. After-tax profits as a share of gross value added for non-financial corporations, a measure of aggregate profit margins, improved in the period to 15.5 percent — the most since 1950 — from 14 percent in the first quarter.

The Bureau of Economic Analysis will release its annual update on September 29, which will include revised statistics for GDP and GDI for the five years through the first quarter of 2022. The first estimate of third-quarter GDP will be released Oct. 27.

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KV Prasad Journo follow politics, process in Parliament and US Congress. Former Congressional APSA-Fulbright Fellow