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Making a formal declaration of India’s interest in hosting the Olympics, Prime Minister Narendra Modi said here Saturday that the country will “leave no stone unturned in our efforts” to host the Summer Games in 2036.
Hosting the Olympics, Modi said, is the “age-old dream and aspiration of 140 crore Indians.” He was addressing a gathering of more than 100 of the who’s who of world sport – with International Olympic Committee (IOC) president Thomas Bach seated on the dais – in Mumbai during the opening ceremony of the governing body’s annual summit, called the IOC Session.
India is eager to host the Olympics in the country. India will leave no stone unturned in the preparation for the successful organisation of the Olympics in 2036, this is the dream of 140 crore Indians.
This dream has to be fulfilled with your cooperation and support,” the Prime Minister told the IOC delegates. “I am very confident that India will get consistent support from the IOC.
Govt & Politics
P20 Summit : India protests EU Manipur resolution (Page no. 8)
(GS Paper 2, International Organisation)
India registered its protest on the European Parliament’s recent move to bring a resolution on the Manipur issue. Lok Sabha Speaker Om Birla broached the issue during a bilateral meeting with European Union Vice-President Nicola Beer on the sidelines of the ongoing G20 Parliamentary Speakers Summit (P20).
Birla “underlined India’s sovereignty and protested against bringing a proposal in the European Parliament on India’s internal issues”.
He insisted that every nation and parliament is sovereign and their internal issues should not be discussed by others.
On her part, Beer emphasised on closer relations between the European Parliament and India, adding that Europe is going through challenging times and sought India’s cooperation.
Ferry service to India to Sri Lanka resumes after 40 yrs (Page no. 8)
(GS Paper 2, International Relation)
Prime Minister Narendra Modi and Sri Lankan President Ranil Wickremesinghe inaugurated a ferry service connecting India and Sri Lanka, nearly four decades after the last such service was cancelled amid civil war in the island nation.
The ferry plies between Nagapattinam in Tamil Nadu and Kankesanthurai in Sri Lanka’s Jaffna.
Connectivity is not only about bringing two cities closer. It also brings our countries closer, our people closer and our hearts closer,” Modi said in a video message, in which he recalled Nagapattinam’s rich history of maritime trade.
He referenced the song Sindhu Nadhiyin Misai by the iconic Tamil poet, Subramania Bharati, that touches on a bridge between the two countries. “The ferry service brings alive all those historical and cultural links.
The PM also provided a broader perspective on India’s collaboration with Sri Lanka, saying fintech, energy, and digital payments were potential spheres of mutual benefit.
Opinion
On Israel & Palestine, hear Ambedkar and Gandhi (Page no. 13)
(GS Paper 2, International Relation)
Mindless wars that has turned the beautiful Arab world into a militarised territory have been the feature of modern times. The unfortunate damage caused by the attacks of opposing groups is alarming, exposing world peace to near-permanent damage and inflicting everyday casualties by the thousands — of children, women, and men.
The war in Palestine is as old as the biblical record. The Abrahamic faith is riven with faithful differences between the creator and the condemned. The Jewish people followed the direction of their prophet, Moses, to escape war.
Their life has been that of displacement and recovery. In an amazing demonstration of calibre, the Jewish people have bounced back at an impressive speed.
However, the right-wing crude elements running the government in Israel currently have no sense of solidarity and empathy for their own ancestry.
Prime Minister Netanyahu has time and again proven that he is not the right man to hold peace accords together.
The most important sites for the desert religions are in Jerusalem, where Judaism, Christianity and Islam stake their claim. The fight for their ownership has changed the region’s portfolio.
World
Saudi Arabia puts Israel deal on ice engages with Iran (Page no. 14)
(GS Paper 2, International Relation)
Saudi Arabia is putting US-backed plans to normalise ties with Israel on ice, two sources familiar with Riyadh's thinking said, signalling a rapid rethinking of its foreign policy priorities as war escalates between Israel and Palestinian group Hamas.
The conflict has also pushed the kingdom to engage with Iran. Saudi Crown Prince Mohammed bin Salman took his first phone call from Iranian President Ebrahim Raisi as Riyadh tries to prevent a broader surge in violence across the region.
The two sources told Reuters there would be a delay in the US-backed talks on normalisation with Israel that was a key step for the kingdom to secure what Riyadh considers the real prize of a US defence pact in exchange.
Until Iran-backed Hamas sparked a war on Oct 7 by launching a devastating attack on Israel, both Israeli and Saudi leaders had been saying they were moving steadily towards a deal that could have reshaped the Middle East.
Saudi Arabia, birthplace of Islam and home to its two holiest sites, had until the latest conflict indicated it would not allow its pursuit of a US defence pact be derailed even if Israel did not offer significant concessions to the Palestinians in their bid for statehood, sources had previously said.
But an approach that sidelined Palestinians would risk angering Arabs around the region, as Arab news outlets broadcast images of Palestinians killed in Israeli retaliatory airstrikes.
Economy
Forex reserves fall $14.15 bn in last one month on valuation impact, RBI intervention (Page no. 15)
(GS Paper 2, International Relation)
Country’s foreign exchange reserves have declined by $14.154 billion in almost one month due to valuation loss and the Reserve Bank of India’s (RBI) intervention in the currency spot market to curb the fall in the rupee against the dollar.
From $598.897 billion as of September 1, the foreign exchange reserves have dipped to $584.742 billion, the lowest in more than five months, on October 6.
During the period, the Foreign Currency Assets (FCA), a major component of the overall forex reserves, have fallen by $11.162 billion and the valuation of gold reserves has reduced by $2.633 billion.
The fall in (forex) reserves is because of selling of dollars by the RBI to support the rupee and also because of the impact on valuation as the dollar has strengthened.
The rupee has depreciated as the strengthening of the dollar index and hardening of US bond yields have triggered outflows from India.