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Remember the pictures of Indian Prime Minister Narendra Modi and Russian President Vladimir Putin locked in a good-natured embrace that had surfaced on the internet not long ago? While they might not be indicative of the leaders’ alignment in their politics, it is certainly representative of the close ties between India and Russia on multiple strategic aspects, including their respective space programs. The two nations have been mostly pally with each other since India’s post-independence — despite tensions between the US and USSR. And what is perhaps the best example of this friendship would be how the Soviet Union has contributed to the establishment and growth of India's space program. <div type="Article" hostid="261" msid="111577453" title="Modi&amp;#39;s Russia visit shows India isn&amp;#39;t worried about making the US mad" mstype="2" mssubtype="0"></div>India's space program, conceived in the 1960s under the visionary leadership of Dr <keyword id="20550009" type="General" weightage="20" keywordseo="vikram-sarabhai" source="keywords">Vikram Sarabhai</keyword>, was primarily focused on utilising space technology for national development. Unlike the space programs of the United States or the Soviet Union, which were heavily influenced by military competition and the Cold War, India's space endeavours were rooted in civilian and developmental objectives. Recognising the potential of space technology, India sought international cooperation, and the Soviet Union emerged as a crucial partner. As India celebrates its first <keyword id="18542869" type="General" weightage="20" keywordseo="national-space-day" source="Orion">National Space Day</keyword>, we would be remiss to not acknowledge all that Russia has done for our nation in terms of space exploration. And here are seven examples of the USSR's involvement during <keyword id="19915124" type="General" weightage="20" keywordseo="ISRO" source="keywords" meta.keywordsubtype="org" meta.entityname="ISRO" meta.hostid="261" meta.entityid="ISRO">ISRO</keyword>'s early years, with multiple instances of assistance. <h2>1. Aryabhata satellite (1975) </h2>The USSR was instrumental in the launch of India's first satellite, Aryabhata, in 1975. While the satellite was designed and developed by Indian scientists, it was launched using a Soviet Kosmos-3M rocket from the Kapustin Yar launch site in Russia. This marked India's first step into space and would not have been possible without Soviet support. <h2>2. Training of ISRO scientists</h2>Throughout the 1960s and 1970s, many Indian space scientists received training in Soviet institutions. This included training in areas like satellite communications, telemetry, and space mission operations. The transfer of technical knowledge was crucial for ISRO as it developed its own capacity to build and operate satellites independently. <h2>3. Bhaskara-I and Bhaskara-II satellites (1979 and 1981)</h2>The USSR launched two Indian Earth observation satellites, Bhaskara-I and Bhaskara-II, which were crucial for remote sensing applications in areas like meteorology, oceanography, and hydrology. Both satellites were launched aboard Soviet rockets, contributing to India's development of satellite-based Earth observation capabilities. <div type="Article" hostid="261" msid="109511778" title="US satellites could face threat from Russia and China&amp;#39;s &amp;#39;unfriendly&amp;#39; space behavior, warn defense analysts" mstype="2" mssubtype="0"></div><h2>4. Launch of apple satellite (1981)</h2>The Ariane Passenger Payload Experiment (APPLE) satellite, India's first experimental communication satellite, was launched in 1981 with Soviet assistance. While the satellite was launched aboard a European Ariane rocket, the Soviet Union provided crucial technical support during its development and also supported telemetry during its early operations. <h2>5. Tracking and telemetry support</h2>The USSR provided technical and infrastructural support to India by helping set up tracking and telemetry stations in India. These facilities were essential for controlling and receiving data from Indian satellites. Soviet technical assistance helped India develop its ground infrastructure for space missions. <h2>6. Interkosmos program (1984) </h2>Under the Soviet Union's Interkosmos program, India participated in a manned spaceflight mission. Rakesh Sharma, an Indian Air Force pilot, was sent into space aboard the Soviet Soyuz T-11 spacecraft, making him the first Indian to travel to space. This was a landmark event for India's space program, showcasing the close collaboration between ISRO and the Soviet space agency. <h2>7. Support for PSLV development</h2>In the early 1990s, during the development of ISRO's Polar Satellite Launch Vehicle (PSLV), the Soviet Union provided guidance and support, particularly in rocket propulsion technology. This collaboration helped ISRO overcome technical hurdles and achieve greater self-reliance in launching satellites. The dissolution of the Soviet Union in 1991 marked the end of an era in Indo-Soviet space collaboration. However, the legacy of the USSR's contributions to ISRO continues to influence India's space program. Russia, as the successor state of the Soviet Union, maintained friendly ties with India, and space collaboration continued, albeit with a different focus and scale. India’s manned space mission project, Gaganyaan, which aims to send Indian astronauts into space, involves training astronauts in Russia, demonstrating the lasting legacy of <keyword id="22892657" type="General" weightage="20" keywordseo="Indo-Soviet-space-cooperation" source="keywords">Indo-Soviet space cooperation</keyword>. <div type="Article" hostid="261" msid="112569406" title="ISRO targets first Gaganyaan mission launch by December: Chairman" mstype="2" mssubtype="0"></div>

7 times Russia aided India's space program — in chronological order

<ul class="summary-list"><li>Russian President Vladimir Putin is engaging in a war of attrition in Ukraine.</li><li>Russia has more to gain by prolonging the war, regardless of who wins the US presidential election.</li></ul>Kamala Harris and Donald Trump have starkly different visions of how they'll seek to end one of the gravest security crises in recent decades: <a target="_blank" href="https://www.businessinsider.com/zelenskyy-ukraine-north-korean-troops-preemptively-long-range-strike-restrictions-2024-11">the</a><a target="_blank" class="" href="https://www.businessinsider.com/zelenskyy-ukraine-north-korean-troops-preemptively-long-range-strike-restrictions-2024-11"> Ukraine war.</a>Harris has pledged to continue the policy of President Joe Biden, <a target="_blank" class="" href="https://www.businessinsider.com/us-soldiers-look-up-abrams-tanks-face-new-threats-ukraine-2024-8">arming Ukraine to defend itself </a>against Russia's two-year invasion.Trump, meanwhile, claims he can bring about a <a target="_blank" class="" href="https://www.businessinsider.com/how-trump-could-handle-ukraine-war-if-reelected-scenarios-2024-10">rapid end to the conflict </a>through negotiations.Whoever is in charge in the White House come January, analysts believe Putin is likely wagering that he has more to gain by prolonging his war of attrition than ending it.<h2 id="3a744150-ba82-4dfb-b30b-8811820f42fe">Pressure mounts on Ukraine</h2>Russia has, in recent months, been ratcheting up pressure on Ukraine, bringing its larger troop numbers and artillery supplies to bear, and making incremental but important gains on the front lines."There are plans to call up more than 160,000 people," the secretary of Ukraine's National Security Council, Oleksandr Lytvynenko, told parliament last week.North Korea is also believed to have <a target="_blank" rel="" class="" href="https://www.businessinsider.com/video-appears-show-north-korean-soldiers-gearing-up-in-russia-2024-10">sent thousands of troops</a> to aid Russia in its war against Ukraine, per officials from South Korea, Ukraine, and the US."The key advantage gained by Russia [in prolonging the war] is 'events'" Robert Dover, Professor of Intelligence and National Security at the University of Hull in the UK told Business Insider."Ukraine seems to be highly strained by the conflict, and this is - in part - a product of the numbers Russia is able to throw into the conflict," he said.<div type="image" title="Trump n Putin" height="820" width="1024" msid="114953184" hostid="261" sizebytes="31598"></div><h2 id="712a570c-ce6b-49c6-b90b-0c08b2faeb64">Trump's peace plans could embolden Russia</h2>The terms on which Trump would seek to broker peace in Ukraine are unclear, though he's criticized the aid Biden sent to Ukraine, suggesting it could be used as leverage.He has also <a target="_blank" class="" href="https://newrepublic.com/post/185652/trump-sanctions-promise-adviser-charged-russia-media">questioned the effectiveness </a>of the administration's sanctions against Russia.His running mate, JD Vance<a target="_blank" class="" href="https://www.businessinsider.com/how-trump-could-handle-ukraine-war-if-reelected-scenarios-2024-10">, recently outlined a </a><a target="_blank" rel=" nofollow" class="" href="https://www.washingtonpost.com/politics/2024/09/12/vance-trump-ukraine-russia-war-plan/">plan for ending the war in Ukraine</a> under a possible Trump administration, with the establishment of a "demilitarized zone" in Russian-occupied Ukrainian territories.Both candidates have also questioned US commitments to NATO, the security pact that has been the main bulwark against Russian aggression in Europe.However, in reducing aid to Ukraine and, in effect, handing over swaths of territory to Russia, the US would likely embolden Kremlin aggression, say critics."If Russia knows its territorial revisionism in Ukraine can be permissible by Washington, it is hard to see how Moscow will not see the same elsewhere (or even further in Ukraine, like it did after 2014)," Paul Cormarie, a policy analyst at the RAND Coproration, told BI."Peace in Ukraine in favor of Russia isn't peace, it's a truce."Undermining Western unity by criticizing NATO could have much the same effect.<div type="image" title="Ukrainian President Volodymyr Zelenskyy and US President Joe Biden shake hands during a joint press conference at the Masseria San Domenico on the sidelines of the G7 Summit hosted by Italy." height="683" width="1024" msid="114953181" hostid="261" sizebytes="29734"></div><h2 id="43d5159f-1892-46df-b087-cadcd5c43edf">Harris pledges to continue backing Ukraine – but it likely won't be enough</h2>Harris, by contrast, has pledged to continue US support for Ukraine, which <a target="_blank" class="" href="https://www.state.gov/u-s-security-cooperation-with-ukraine/#:~:text=To%20date%2C%20we%20have%20provided,invasion%20of%20Ukraine%20in%202014.">has cost $64.1 billion</a> in military assistance since the 2022 Russian invasion.US aid has played a key role in helping Ukraine fend off the Russian invasion and inflict vast losses on Russia's forces.But the Biden administration has long placed limits on how Ukraine can use the weapons. Ukraine also says US aid often arrives in a piecemeal way.It's part of a US effort to balance support for Ukraine with not provoking Russia and causing a bigger war.But it means that Putin likely believes he can continue to wage his war of attrition against Ukraine with Harris as president as she likely won't provide enough military aid to defeat his forces.It's a war Putin has staked Russia's economic future on, underlining the importance of victory for the Russian leader.One key tool Biden has used to punish Russia is sanctions designed to damage its economy by limiting its capacity to sell oil and gas internationally.However, Russia has managed to open new export markets in major economies including China and India, making the economic damage of the sanctions has been more limited than some experts projected.Economist <a target="_blank" class="" href="https://www.businessinsider.com/russia-economy-crisis-ukraine-war-moscow-inflation-sanctions-putin-spending-2024-10">Alexander Mertens recently wrote</a> that Russia would likely suffer economic damage regardless of whether it continues the war or not, meaning there's not a major incentive for Putin to stop now.<div type="image" title="Russian President Vladimir Putin and Chinese President Xi Jinping enter the hall for Russian-Chinese talks on May 16, 2024 in Beijing, China." height="760" width="1024" msid="114953186" hostid="261" sizebytes="24578"></div><h2 id="41991dd2-f4c0-4eea-aac2-1fdc873df772">Putin plays the long game</h2>Putin's thinking about the global picture, too said Dover.China is observing the Ukraine conflict closely as it weighs whether to launch an invasion of US-ally Taiwan, say analysts, while the Middle East is engulfed in a conflict that could spiral into a much bigger war.Dover said a major conflict in either region could draw in US resources and energy and distract from Ukraine."A regional conflict in the Middle East will help Russia maintain a conflict in Ukraine, with lower risks," he said, cautioning though that the situation was a "fluid assessment conditioned by events."Overall, Putin's mission is to not just seize Ukraine but also work in tandem with <a target="_blank" href="https://www.businessinsider.com/russia-china-brink-military-alliance-may-overwhelm-us-putin-xi-2023-12">other authoritarian leaders</a> to damage US global power."In the near-term, Russia and China have embraced a strategy of joint confrontation with the United States and its Allies in Europe and Asia respectively," analyst Jonathan Ward of the Hudson Institute told BI last year.Neither Harris nor Trump are likely to get Putin to change course in his pursuit of victory in Ukraine, and his bigger global ambition."He has taken personal responsibility for achieving that outcome and likely judges it as worth nearly any cost. Trying to coerce him into giving up is a fruitless exercise that just wastes lives and resources," wrote Peter Schroeder, former Principal Deputy National Intelligence Officer for Russia and Eurasia at the National Intelligence Council, for <a target="_blank" class="" href="https://archive.is/Y92WB#selection-1479.348-1479.412">Foreign Relations in September.</a>The best course, writes Schroeder, is for the US to play Putin at his own game and outlast him in his war of attrition, waiting for him to die or leave office."Only then will there be a chance for a lasting peace in Ukraine," he said.

Putin is in no hurry to end the Ukraine war, no matter who wins the US election

<ul class="summary-list"><li>The Senate just passed a TikTok "ban" as part of a larger foreign-aid bill.</li><li>Once <keyword id="19970520" type="General" weightage="20" keywordseo="President-Joe-Biden" source="keywords" meta.keywordsubtype="org" meta.entityname="President Joe Biden" meta.hostid="261" meta.entityid="President Joe Biden">President Joe Biden</keyword> signs it into law, <keyword id="3749909" type="General" weightage="20" keywordseo="bytedance" source="Orion">ByteDance</keyword> will have 270 days to sell TikTok.</li></ul>The Senate passed a multifaceted bill on Tuesday evening that will effectively ban TikTok from the <keyword id="21416130" type="General" weightage="20" keywordseo="US-app-store" source="keywords">US app store</keyword> once President Joe Biden signs it, as he has signaled he will. The final vote was 79 in favor and 18 opposed. The House of Representatives <a target="_blank" href="https://www.businessinsider.com/house-republicans-plan-ukraine-israel-aid-explained-2024-4">passed a series of bills</a> over the weekend to provide foreign aid to Ukraine, Israel, and Taiwan and humanitarian funding for the Gaza Strip. Tucked into the foreign-aid bills was text forcing TikTok's parent company, ByteDance, to sell the social-media service to an American company or face a ban. The House passed a similar bill in March, pressuring <a target="_blank" href="https://www.businessinsider.com/tiktok-ban-house-vote-results-uncertain-in-the-senate-2024-3">ByteDance to divest within 180 days</a>. The newer version gives ByteDance 270 days to divest, a decision that appears to have been enough to sway the chair of the Senate Commerce Committee, Sen. Maria Cantwell. Cantwell didn't support the previous TikTok bill, saying she was unsure it could pass legal scrutiny. This is a problem other senators have pointed out, given the legislation specifically identifies ByteDance by name. Biden has said for months that he'll pass the legislation once it reaches his desk. In his last year in office, former President Donald Trump tried to force ByteDance to sell to an American company via executive order, but a federal district court struck down the order. The bill's passage in the Senate has come after months of TikTok lobbying against it. The app prompted its users to reach out to their representatives, and its CEO personally traveled to Washington, DC, to try to stop it. <a target="_blank" href="https://www.businessinsider.com/china-just-proved-why-congress-wants-to-ban-tiktok-2024-4">China</a> itself has apparently lobbied against the bill, too. Politico reported earlier in April that officials from the Chinese Embassy met with congressional staffers to voice their displeasure with the legislation. <a target="_blank" href="https://www.businessinsider.com/tiktok-could-bring-potential-house-congress-ban-legal-battle-2024-3">TikTok</a> has vowed to <a target="_blank" href="https://www.cnn.com/2024/04/22/tech/tiktok-vows-legal-challenge-to-potential-us-app-ban/index.html">challenge the bill in court</a> once Biden signs it. Enacting the TikTok "ban" could hurt Biden's chances at <a target="_blank" href="https://www.businessinsider.com/banning-tiktok-could-haunt-bidens-reelection-campaign-2024-3">reelection</a> in November, given the app's popularity among younger demographics and the likelihood of a close final vote. Trump may have picked up on that, too — earlier in the year, he spoke against banning TikTok despite his actions while president.

Will the US follow India's suit? US Senate passes bill that could ban TikTok

<ul class="summary-list"><li>The relationship between Trump and Putin has long been a source of controversy.</li><li>Analysts say Trump could broker a Ukraine peace deal on terms favorable to Russia.</li></ul>With only a month to go before the presidential election, <a target="_blank" class="" href="https://www.businessinsider.com/trump-touts-russia-army-history-justify-deal-putin-over-ukraine-2024-9">Donald Trump's relationship with Russian President Vladimir Putin</a> has once again come under the spotlight.In a forthcoming book, journalist <a target="_blank" rel="" class="" href="https://www.businessinsider.com/bob-woodward-trump-unparalleled-danger-democracy-president-2022-10">Bob Woodward</a> says that the former president and Putin have a closer friendship than previously known.According to <a target="_blank" class="" href="https://www.businessinsider.com/trump-putin-woodward-book-secret-covid-tests-seven-calls-2024-10">excerpts</a> published by CNN and the Washington Post on Tuesday, Trump sent Putin COVID testing devices in early 2020 for his personal use.The book also says that Trump may have had up to seven phone calls with Putin since leaving office in 2021, citing a Trump aide.The Trump campaign denied the report, with spokesman Steve Cheung claiming it is "the work of a truly demented and deranged man who suffers from a debilitating case of Trump Derangement Syndrome."The Kremlin on Tuesday<a target="_blank" class="" href="https://www.nbcnews.com/news/world/donald-trump-vladimir-putin-covid-testing-devices-phone-calls-kremlin-rcna174632"> said </a>that Russia received the COVID-19 testing kits, though added that Russia sent kits to the US in return. It denied <a target="_blank" class="" href="https://www.businessinsider.com/kremlin-says-trump-sent-putin-covid-tests-pandemic-denies-calls-2024-10">the seven calls that Woodward said Trump had with Putin.</a>While speculation and criticism about Trump's relationship with Russia's autocratic leader are nothing new, they are taking on a new significance amid the possibility of a second Trump presidency.<h2 id="ca1622e9-b987-46c8-878b-d263ec452e14">The Trump-Putin relationship</h2>Only weeks before Trump took office after his presidential victory, his administration-in-waiting was rocked by the publication of a dossier prepared by a former British spy.The report said that the Kremlin had secured compromising information that it could use to blackmail Trump.Trump's legal team said the dossier contained inaccurate information and that it breached his data protection rights.A subsequent inquiry by Special Counsel Robert Mueller found no evidence of coordination between Putin and the Trump campaign.<div type="image" title="Robert Mueller, who headed the FBI for 12 years, speaks into a microphone." height="2316" width="3500" msid="114090479" hostid="261" sizebytes="235904"></div>Throughout his presidency, however, Trump appeared friendly toward Putin and was reluctant to criticize Russia over reports of interference in the 2016 US presidential election.Trump has continued to praise Putin for being <a target="_blank" rel="" href="https://www.businessinsider.com/trump-praised-smart-putin-us-stupid-country-2022-2">"smart" </a>and<a target="_blank" rel="" href="https://www.businessinsider.com/donald-trump-vladimir-putin-ukraine-invasion-justification-genius-savvy-2022-2"> "genius"</a> after he began his unprovoked invasion of Ukraine."I'd say that's pretty smart. He's taking over a country – really a vast, vast location, a great piece of land with a lot of people, and just walking right in," Trump <a target="_blank" class="" href="https://x.com/american_bridge/status/1496682759208775683?s=21">said</a> in 2022.<h2 id="8940f3b3-81cf-4fcd-b657-4036ec84ba83">A Ukraine deal</h2>The US, under President Joe Biden, has provided billions in aid to Ukraine to battle the invasion launched by Russia in 2022, which the president has characterized<a target="_blank" class="" href="https://www.cbsnews.com/news/biden-normandy-d-day-ukraine-unchecked-tyranny/"> as a fight between</a> the forces of democracy and tyranny.Yet Trump has questioned why the US is helping Ukraine defend itself and had urged Republicans in Congress to block a Ukraine aid bill earlier this year, resulting in Ukraine suffering ammunition shortages.He has claimed that he'd be able to swiftly negotiate a peace deal between Ukraine and Russia if he became president.And though he's offered few details on how, a peace plan suggested by his running mate, JD Vance, on a podcast <a target="_blank" class="" href="https://thehill.com/opinion/international/4884798-the-trump-vance-plan-for-ukraine-is-insane/">in September indicates </a>that it'd involve Ukraine ceding the territory Russia holds and pledging neutrality.Trump could hypothetically compel Ukraine's President Volodymyr Zelenskyy to agree to the deal or face US aid being cut off.Critics say it's a deal that would likely delight the Kremlin and infuriate US allies in Europe and beyond. It could also come back to haunt the US.<h2 id="8ad46fa4-95d4-47d5-919b-551c0fc2121b">There could be catastrophic consequences</h2>Philip Ingram, a former UK military intelligence officer, told Business Insider that a Trump deal with Putin that involved ceding Ukrainian territory could have catastrophic effects."I think if Trump forces Zelenskyy into a peace deal where he has to give up any territory, then that will stimulate the start of World War Three, and it will happen within a relatively short period of time," he said."And the economic impact that that will have across the globe will be enormous."The Ukraine war has already roiled markets for food, oil, gas, and other products, and wider conflict could have an even more devastating impact.Economist Kenneth Rogoff in an article for <a target="_blank" class="" href="https://www.imf.org/en/Publications/fandd/issues/2022/03/the-long-lasting-economic-shock-of-war">The International Monetary Fund</a> warned that the war is worsening "rising inflation, extreme poverty, increasing food insecurity, deglobalization, and worsening environmental degradation."William Pomerantz, an analyst at the Wilson Center in Washington, DC, told BI a deal would hugely damage US alliances."Trump believes that he can end the war in Ukraine in a week, but that would require conceding to all of Putin's demands," he said."That would essentially end our alliance with Europe and our international credibility."<h2 id="62871981-d67f-4884-a229-94adfdbc3ed3">Empowering China</h2>Some Republicans, including Vance, say the US needs to shift its stance away from helping Ukraine battle Russian aggression toward the more urgent threat they say China poses.Yet analysts <a target="_blank" class="" href="https://www.businessinsider.com/vance-trump-wants-us-focus-china-russia-one-big-problem-2024-7">told BI in July </a>that China's threat is closely linked to Russia's, with Putin and fellow Chinese autocrat Xi Jinping having formed a pact to weaken US global dominance.A Russian victory in Ukraine would likely embolden Xi to launch an invasion of US ally Taiwan, said Ingram.<div type="image" title="Vladimir Putin and Xi Jinping talking." height="3452" width="5402" msid="114090480" hostid="261" sizebytes="395676"></div>If Xi believes that the West has "given in" regarding Russia's invasion of Ukraine despite the money and diplomatic effort spent trying to defeat Russia, "we would very quickly see his invasion of Taiwan," he said.European leaders have also issued stark warnings that Russia, emboldened by its territorial victory in Ukraine, could seek to attack a NATO state in as little as five years.Spiralling conflicts in Asia, Europe, and the Middle East would have a devastating economic impact.<a target="_blank" rel="" class="" href="https://markets.businessinsider.com/stocks/jpm-stock">JPMorgan</a> CEO Jamie Dimon warned last month that investors are overlooking geopolitcal tensions as key risk that could significantly weaken the global economy."Geopolitics is getting worse, they are not getting better. There is chance for accidents in energy supply. God knows if other countries get involved. You have a lot of war taking place right now," Dimon told <a target="_blank" rel=" nofollow" class="" href="https://www.cnbc.com/2024/09/24/jpmorgan-ceo-jamie-dimon-warns-geopolitics-is-getting-worse.html">CNBC-TV18</a> during a visit to India.Dimon said that if geopolitical tensions elevate to instability and conflict, it will drag down the stock market in a way that pales in comparison to prior market crashes.<h2 id="cccccb09-431b-470e-9b1b-e688d2ce7308">Trump's words and actions differ</h2>Ingram pointed out that there has in the past been a gap between Trump's words and actions, and questioned whether Trump would be willing to risk the economic blowback on the US of canceling Ukraine aid, with arms manufacturing firms in swing states such as Pennsylvania massively boosted by the Congressional aid bills."What we're hearing from him, from a political perspective, but what he'd actually practically do will be different," said Ingram.It is also unclear Trump would continue to impose sanctions on Russia if he becomes president."It's much harder to predict him on that stuff," William Reinsch, a senior advisor at the Center for Strategic and International Studies, told <a target="_blank" href="https://www.wsj.com/articles/tough-u-s-sanctions-packages-are-here-to-staywhether-its-harris-or-trump-11f884ba">The Wall Street Journal</a> in August. "I would say [he is] sort of inconstant. He tends to veer from one thing to another.'"Either way, Trump will have to deal with economic problems at home, including record debt levels and surging interest payments.Trump's economic plans are estimated to raise the federal debt level by double the figure expected if Kamala Harris is elected, according to a <a target="_blank" href="https://www.crfb.org/sites/default/files/media/documents/CRFB_US%20Budget%20Watch%202024_The%20Fiscal%20Impact%20of%20the%20Harris%20and%20Trump%20Campaign%20Plans_Final_10062024.pdf">report</a> out this week.Harris would add $3.5 trillion to the projected fiscal debt through 2035, while Trump would add $7.5 trillion, the <a target="_blank" href="https://www.crfb.org/papers/fiscal-impact-harris-and-trump-campaign-plans">Committee for a Responsible Federal Budget</a> analysis said."Our large and growing national debt threatens to slow economic growth, boost interest rates and payments, weaken national security, constrain policy choices, and increase the risk of an eventual fiscal crisis," it added.If elected for a second term, Trump has pledged to purge the US government of those he deems disloyal to his agenda if reelected and could surround himself with loyalists rather than career officials seeking to check his more impulsive decisions.Pomeranz said that Trump's policies in a second term would more openly reflect his admiration for Russia's leader, regardless of the US' economic plight."Putin is the autocratic leader that Trump most admires," he said. "Trump will present any end of hostilities [in Ukraine] as a personal victory, and Putin will validate this."

Trump's close relationship with Putin could come back to haunt the US

<ul class="summary-list"><li>The US reneged on Trump's promise to sell F-35 stealth fighters to Egypt.</li><li>The Egypts are reportedly in talks with China to acquire some of its advanced aircraft.</li></ul>Egypt's military still desperately wants a world-class fighter jet.With the deal it sought to acquire 20 <a target="_blank" href="https://www.businessinsider.com/us-f-35-stealth-fighter-trainining-red-flag-air-defenses-2024-2">F-35 stealth fighters</a> from the US on ice, Egyptian officials reportedly discussed buying fourth- and even fifth-generation fighter jets from China. It could be a sign that Cairo, a top recipient of American military aid, is either seriously pursuing advanced aircraft from a US rival or trying to ratchet up pressure on the US to cave and sell it F-35 Lightning IIs.The Egyptian wish list reportedly includes the fourth-generation <a target="_blank" href="https://www.businessinsider.com/chinese-fighter-jet-popped-flares-in-front-of-australian-helicopter-2024-5">J-10C Vigorous Dragon</a> fighter, in service in the air forces of China and Pakistan, and fifth-generation <a target="_blank" href="https://www.businessinsider.com/china-fc31-stealth-fighter-developing-but-still-has-weight-problem-2021-7">FC-31 Gyrfalcon</a>, which is still a prototype.One <a target="_blank" href="https://www.tacticalreport.com/daily/62929-egypt-china-defense-relations-talks-to-procure-j-20-fighter-jets">report in August</a> even claimed Egyptian officials sought China's premier fifth-generation fighter, the <a target="_blank" href="https://www.businessinsider.com/china-j20-stealth-jet-isnt-dominating-doesnt-need-to-be-2023-10">J-20 Mighty Dragon</a>, which is in all likelihood a nonstarter given Beijing's <a target="_blank" href="https://www.businessinsider.com/uae-forges-china-ties-but-wont-get-j20-stealth-fighter-2024-5">reluctance to export it</a> to anyone."China would no doubt want to sell Egypt advanced fighters because the Egyptians tend to purchase a lot of military hardware, and thus could become a reliable and valued customer for China," Nicholas Heras, senior director of strategy and innovation at the New Lines Institute, told Business Insider."However, Egypt would likely be cautious about upsetting the United States by purchasing Chinese-made, advanced warplanes, and would also have to navigate Israeli concerns about what that type of purchase would signal about Egypt's future intentions toward Israel."Two American laws are making it difficult for Egypt to buy its stealth fighters.First, the United States' commitment to uphold Israel's so-called Qualitative Military Edge by not selling advanced weapons to others in the region was <a target="_blank" href="https://obamawhitehouse.archives.gov/blog/2011/11/17/ensuring-israels-qualitative-military-edge">written into law in 2008</a>. Second, the 2017 Countering America's Adversaries Through Sanctions Act (CAATSA) federal law mandates sanctions against countries that import military hardware from US adversaries."Egypt is constrained by the US policy of providing Israel with a QME over its Arab neighbors, even if those states have a peace treaty with Israel, such as Egypt does," Heras said. "The F-35 is especially problematic from an Israeli perspective because those planes can be used to counter Israel's air superiority in the event that Egypt and Israel become enemies again."During his presidency, Donald Trump <a target="_blank" href="https://www.washingtoninstitute.org/policy-analysis/understanding-egyptian-militarys-perspective-su-35-deal">verbally committed</a> to selling Egypt 20 F-35As in 2018 but opposition from the Department of Defense and Israel killed any potential deal. Frustrated, Egypt turned to Russia for 24 non-stealthy, fourth-generation <a target="_blank" href="https://www.businessinsider.com/ukraine-says-destroyed-2-russia-jets-6-in-3-days-2024-2">Su-35s</a> but canceled that order under threat of sanctions."Why doesn't the US supply Egypt with F-35 fighters that it supplied Israel with, since it is objecting to the Russian Su-35 fighters deal?" Maj. Gen. Naser Salem, former head of the Egyptian army's reconnaissance department, <a target="_blank" href="https://www.al-monitor.com/pulse/originals/2020/07/egypt-arms-deal-russia-fighter-jets-united-states-sanctions.html">remarked to Al-Monitor in 2020</a>, aptly epitomizing Cairo's frustration.Ryan Bohl, a senior Middle East and North Africa analyst at the risk intelligence company RANE, wouldn't be surprised if these recent reports of Egypt-China talks over potential fighter acquisitions are accurate, but thinks they're unlikely to make progress."I tend to think that if such talks do take place, they're designed to pressure the US to offer some kind of other defense option for Egypt," Bohl said.That could include upgraded <a target="_blank" href="https://www.businessinsider.com/what-american-missiles-can-do-ukraine-f-16s-against-russia-2024-7">F-16s</a>. The United States also suggested in 2022 that it was open to <a target="_blank" href="https://www.businessinsider.com/fighter-jet-buys-could-reshape-turkey-iraq-iran-egypt-militaries-2023-7">selling Egypt F-15s</a> for the first time. Neither of these decades-old fighters would undermine Israel's military prowess; the <a target="_blank" href="https://www.businessinsider.com/us-fighter-jets-israel-air-war-gaza-2024-1">Israel Defense Force flies</a> advanced versions of them, as well as the F-35 — one of a leading class of so-called <a target="_blank" href="https://www.businessinsider.com/russia-china-us-militaries-fifth-gen-fighter-jets-problems-2023-12">fifth-generation fighter aircraft</a> with a stealth design and advanced avionics that give it increased survivability in contested airspace too dangerous for older aircraft.Since signing its peace with Israel in 1979, Egypt has been a major customer of US military hardware and aid. Washington provides Cairo with <a target="_blank" href="https://www.nytimes.com/2023/09/14/us/politics/egypt-biden-military-aid.html">$1.3 billion in military aid each year</a>, and the Egyptian armed forces operate large quantities of American military hardware, from F-16s to <a target="_blank" href="https://www.businessinsider.com/ukraine-abrams-better-than-russias-best-tanks-in-war-commander-2024-7">M1 Abrams main battle tanks</a>. In light of this, it's questionable whether China would feel comfortable selling Egypt one of its most advanced fighters."China would not want to sell advanced hardware to a major non-NATO ally like Egypt where the US might be able to glean information (or outright steal it)," Bohl said. "I expect that Beijing would want these security concerns addressed first, which would take time and building trust."Egypt has bought Chinese warplanes before, such as the Shenyang J-6. But that's a vintage fighter of a bygone age compared to the modern, cutting-edge FC-31. At best, Beijing may expect Cairo to invest in less advanced aircraft like the J-10C before seriously considering any sale of fifth-generation jets.It's unclear if Cairo can convince Washington to reverse its ban on selling F-35s anytime soon for several reasons."Right now, Egypt getting F-35s is not a priority for the US, given both the QME for Israel, Egypt's lack of immediate pressing defense needs for F-35s, and Washington's concerns about delivering such systems abroad when it has major geopolitical challenges in Europe and Asia that weaken the interest in exporting them," Bohl said.It's not inconceivable that Egypt could make the case that 20 F-35As would not undercut Israel. After all, Israel has already bought 50 and recently <a target="_blank" href="https://www.timesofisrael.com/israel-inks-deal-to-buy-25-more-f-35-fighter-jets-for-3-billion/">signed a deal for another 25</a>. Furthermore, Israel has a unique and specialized variant, the <a target="_blank" href="https://www.businessinsider.com/israel-war-planes-fighter-jets-f35-2024-4">F-35I Adir</a>, most likely more advanced than any basic F-35A model the Egyptian Air Force would receive."On that front, it's possible, and particularly with Egypt's support for Israel in the <a target="_blank" href="https://www.businessinsider.com/israel-no-win-situation-gaza-after-months-war-crush-hamas-2024-1">Gaza War</a>, the Israelis might be more open to it," Bohl said. "I think the constraints are stronger in the US at the moment than in Israel over the F-35s overall."Egypt may also have a third option for acquiring stealth fighters that sidesteps China and the US. They could tap countries like South Korea, Turkey, and India that are developing stealthy jets."This is the most viable option, but all of these systems are years away from deployment, let alone export," Bohl said. "<a target="_blank" href="https://www.businessinsider.com/nato-greece-turkey-plan-to-get-new-stealth-fighter-jets-2023-9">Turkey's TF Kaan</a> might fit the bill given that it's the most progressed and Ankara wants it as an export option.""If Egypt is to move into fifth-generation fighter jet territory, I would venture these second-tier options are the most likely way."

Egypt looks elsewhere to get the stealth fighters the US reneged on 

The <keyword id="19949639" type="General" weightage="20" keywordseo="rupee" source="keywords">rupee</keyword> appreciated 5 paise to 83.44 against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> in early trade on Monday, as the American currency and crude <keyword id="19900090" type="General" weightage="20" keywordseo="oil-prices" source="keywords">oil prices</keyword> retreated from their elevated levels. <keyword id="19950258" type="General" weightage="20" keywordseo="Forex" source="keywords">Forex</keyword> traders said foreign fund inflows also aided investors' sentiments and supported the rupee. At the interbank foreign exchange market, the local unit opened at 83.45 and gained further to 83.44 against the greenback, registering a rise of 5 paise from its previous close. On Friday, the rupee settled at 83.49 against the US dollar. According to CR Forex Advisors MD Amit Pabari the Reserve Bank of India (<keyword id="19899808" type="General" weightage="20" keywordseo="RBI" source="keywords">RBI</keyword>) seems determined to prevent the rupee from depreciating below 83.70. Even with pressure from oil companies due to elevated oil prices. "Overall, positive economic indicators such as a good growth rate, stable inflation, a reduced fiscal deficit, record-high RBI forex reserves, and a pipeline of inflows are all supportive factors that should ideally bolster the rupee," Pabari said, adding that given these factors, the rupee is expected to trade within a broad range of 83.20 to 83.70 levels. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, was trading at 104.86, lower by 0.01 per cent. Brent crude futures, the global oil benchmark, declined 0.03 per cent to USD 86.51 per barrel. On the domestic equity market front, the 30-share BSE Sensex fell 174.57 points, or 0.22 per cent, to 79,822.03 points. The broader NSE Nifty declined 13.05 points, or 0.05 per cent, to 24,310.80 points. Foreign Institutional Investors (FIIs) were net buyers in the capital markets on Friday, as they purchased shares worth Rs 1,241.33 crore, according to exchange data. On the domestic macroeconomic front, India's forex reserves dropped USD 1.713 billion to USD 651.997 billion for the week ended June 28, the Reserve Bank of India (RBI) said on Friday. In the previous reporting week, the overall kitty had dropped USD 2.922 billion to USD 652.895 billion. The reserves had touched an all-time high of USD 655.817 billion on June 7 this year. SEE ALSO: <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-ipo-mukesh-ambani-led-telco-might-be-gearing-up-for-indias-biggest-ipo/articleshow/111519009.cms">Reliance Jio IPO – Mukesh Ambani-led telco might be gearing up for India’s biggest IPO</a> <a href="https://www.businessinsider.in/business/telecom/news/jio-vs-airtel-vs-vi-prepaid-plans-comparison-plan-benefits-and-price-comparison-after-tariff-hike/articleshow/111512587.cms">Jio vs Airtel vs Vi recharge plans comparison – plan benefits and price comparison after tariff hike</a> <a href="https://www.businessinsider.in/tech/news/hp-envy-x360-14-review/articleshow/111407165.cms">HP Envy x360 14 review – feature-packed laptop with a sleek design</a>

Rupee rises 5 paise to 83.44 against US dollar in early trade

A couple of days back, tickets for iconic band Coldplay's concert went up for sale on <keyword id="20215809" type="General" weightage="20" keywordseo="BookMyShow" source="keywords" meta.keywordsubtype="org" meta.entityname="BookMyShow" meta.hostid="261" meta.entityid="BookMyShow">BookMyShow</keyword>. However, the tickets were sold out within a few minutes of being listed and a lot of people took to social media to share their experiences. While some managed to get the tickets to one of the most-anticipated concerts in India, others were disappointed. Shortly after this, there were reports of tickets being bought and sold in black, for much higher prices. Social media was then rife with discussions about scalpers, and how they are hoarding tickets to sell them at higher prices. Now, BookMyShow has filed an FIR for black marketing of Coldplay's tickets. According to an ANI report, the company has taken legal action against unknown scalpers involved in the reselling of tickets for Coldplay's "<keyword id="23232180" type="General" weightage="20" keywordseo="Music-Of-The-Spheres-World-Tour" source="keywords">Music Of The Spheres World Tour</keyword> " in India. The online ticket platform filed an FIR with the <keyword id="19906039" type="General" weightage="20" keywordseo="Mumbai-Police" source="keywords" meta.keywordsubtype="org" meta.entityname="Mumbai Police" meta.hostid="261" meta.entityid="Mumbai Police">Mumbai Police</keyword> on October 2, accusing scalpers of black market activity surrounding tickets for the band's highly anticipated shows in January 2025 at DY Patil Stadium in Navi Mumbai. The FIR was registered at Vile Parle Police Station, with the Mumbai Police charging the accused under sections 318(4) and 319(2) of the Bhartiya Nyay Sanhita (BNS), as well as section 66(C) of the Information Technology Act. Investigations are currently underway to identify those involved in the unauthorised resale of concert tickets. The issue arose when BookMyShow, which opened ticket sales for the concert on September 22, received emails from two people who claimed to have secured tickets for others in exchange for money. Several WhatsApp messages were also sent to BookMyShow requesting additional tickets, which the platform ignored. BookMyShow had clearly warned buyers against purchasing tickets from third-party sources, yet scalping activities persisted. In response to these concerns, the ticketing company lodged a complaint with the police on September 23, well before the formal FIR was filed. BookMyShow's spokesperson said the company remains committed to combating ticket reselling and is cooperating with the authorities to investigate all instances of illegal sales, including those on social media platforms such as Instagram and WhatsApp, as well as digital reselling platforms like Viagogo and Stubhub. "In its ongoing fight against <keyword id="23311384" type="General" weightage="20" keywordseo="ticket-scalping" source="keywords">ticket scalping</keyword> and black marketing of tickets for Coldplay's Music Of The Spheres World Tour 2025 in India, BookMyShow has lodged a formal FIR (First Information Report) on October 2, 2024. This action follows our initial complaint filed proactively with the Mumbai Police on September 23, 2024, addressing these concerns much before any formal complaint was raised against us. BookMyShow's FIR filed with the Mumbai police also urges authorities to investigate the unauthorised resale of tickets by individuals and platforms. "We have provided details of all resellers that have come to our attention, including independent individuals reselling tickets for this tour across social media platforms such as Instagram, WhatsApp and beyond, as also digital platforms such as Viagogo, Stubhub Holdings and more, to aid authorities in a thorough investigation," a statement from the company read. The platform is also reportedly considering cancelling tickets that have been sold through unauthorised channels and reiterated its strong opposition to illegal ticket resale. "Our stance remains clear and unchanged - BookMyShow vehemently condemns and opposes ticket reselling which is deemed illegal and is punishable by law in India. BookMyShow has no association with any such unauthorised ticket selling/reselling platforms and/or any third party individuals/platforms for the purpose of reselling Coldplay's Music Of The Spheres World Tour 2025 in India," a company spokesperson said as per ANI. BookMyShow had also posted a statement on Instagram last month, saying that scalping of tickets is punishable by law in India and that people should stay safe from scammers. "Scalping is strictly condemned and punishable by law in India. We have filed a complaint with the police authorities and will provide complete support to them in investigation of this matter. We urge you not to fall victim to these scams. Any tickets bought from unauthorised sources will be at risk of consumer and can turn out to be fake tickets. Beware of such scammers," the statement had read. Coldplay is set to perform three shows in Navi Mumbai on January 18, 19, and 20, 2025, as part of their world tour.

Coldplay India 2025 concert: BookMyShow might cancel tickets sold through unauthorised channels, files FIR

<ul class="summary-list"><li>The US sought the help of non-allies to try to dissuade Russia from carrying out a nuclear strike in 2022.</li><li>The US feared a Ukrainian counteroffensive against Kherson could trigger Putin.</li></ul>The US asked non-allies for help in an attempt to dissuade Russia from carrying out a nuclear strike in 2022, a senior US administration official told CNN."One of the things we did was not only message them directly but strongly urge, press, encourage other countries, to whom they might be more attentive, to do the same thing," they said, per the report.The official said their assessment was that input from the likes of India, China, and others "may have had some effect" on Russia's thinking."The concern from key countries for Russia and the Global South, was also a helpful, persuasive factor and showed them what the cost of all this could be," another US official told the outlet.<div type="image" title="Xi/Putin" height="701" width="1024" msid="108355650" hostid="261" sizebytes="37592"></div>Worries that Putin might resort to using nuclear weapons spread in 2022 after Russian forces faced a series of defeats and <a target="_blank" href="https://www.businessinsider.com/ukraine-troops-enter-kherson-humiliate-for-putin-as-russia-retreats-2022-11">Ukraine launched a counteroffensive against the prized city of Kherson</a> in southern Ukraine."If significant numbers of Russian forces were ­overrun —­ if their lives were shattered as such —­ that was a sort of precursor to a potential threat directly to Russian territory or the Russian state," one of the senior officials said.And the Biden administration feared that this might trigger Putin to use nuclear weapons as a deterrent to avoid further losses, as he viewed the captured town of Kherson as part of Russia itself, per the CNN report.<h2>Russia's 'dirty bomb' claim</h2>In October 2022, Russian propagandists also began circulating a story suggesting that Ukraine was planning to use a "<a target="_blank" href="https://www.businessinsider.com/russia-baseless-claim-ukraine-dirty-bomb-ploy-to-scare-west-2022-10">dirty bomb</a>," a device containing both radioactive material and regular explosives.Sergei Shoigu, Russia's defense minister, put the claim to the US and a number of its allies.<div type="image" title="sergei shoigu" height="1174" width="1500" msid="108355652" hostid="261" sizebytes="78780"></div>"Russian public messaging came way out of the left field on the potential for Ukraine to use a dirty bomb, which we saw not grounded in reality," one of the administration officials said.But they added that there were fears Russia was making the claims as "a pretext for them to do something crazy or as a cover for something they themselves were looking at doing."The Institute for the Study of War think tank <a target="_blank" href="https://twitter.com/TheStudyofWar/status/1584304801495814144">said</a> at the time that the move "likely sought to slow or suspend Western military aid" and "possibly weaken the NATO alliance in scare-mongering calls."Nevertheless, one official said, "the risk level seemed to be going up, beyond where it had been at any other point in time."In June 2023, President Joe Biden said Russia's nuclear threat remained "real" following the news that Russia had moved nuclear weapons into neighboring Belarus.Last month, Putin made some of his most explicit nuclear threats so far after French President Emmanuel Macron suggested NATO could send troops to aid Ukraine — despite the idea being rejected by the US and other NATO allies."(Western nations) must realise that we also have weapons that can hit targets on their territory," he said, per <a target="_blank" href="https://www.reuters.com/world/europe/putin-warns-west-risk-nuclear-war-says-moscow-can-strike-western-targets-2024-02-29/">Reuters</a>. "All this really threatens a conflict with the use of nuclear weapons and the destruction of civilisation. Don't they get that?"

US asked China and India for help to prevent Russia from carrying out a nuclear strike in 2022, report says

<ul><li>You can get <keyword id="23085304" type="General" weightage="20" keywordseo="Apple-AirPods-4" source="keywords">Apple AirPods 4</keyword> and <keyword id="20524550" type="General" weightage="20" keywordseo="Apple-Pencil" source="keywords">Apple Pencil</keyword> for free in India</li><li>This is part of a <keyword id="23216168" type="General" weightage="20" keywordseo="limited-time-deal" source="keywords">limited-time deal</keyword> by <keyword id="19894961" type="General" weightage="100" keywordseo="Apple" source="keywords" meta.keywordsubtype="org" meta.entityname="Apple" meta.hostid="261" meta.entityid="Apple">Apple</keyword></li><li>The accessories are available for free with purchase of selected devices</li></ul> Apple, during the “It’s Glowtime” event held earlier this month, introduced us all to the <keyword id="20994992" type="General" weightage="20" keywordseo="airpods-4" source="Orion">AirPods 4</keyword>. In addition to this, the company also announced that the AirPods Pro would now be functioning as a hearing aid as well. The company also got FDA’s nod for the same recently. What if we tell you that you can grab the new AirPods 4 and the Apple Pencil for free? Read on to know how. <h2>Apple’s limited-time deal in India </h2> Apple has rolled out a special offer for university students and staff across India, providing substantial discounts on some Mac and iPad models. The offer also includes <keyword id="23216169" type="General" weightage="20" keywordseo="free-accessories" source="keywords">free accessories</keyword> like AirPods or an Apple Pencil, as well as a 20 percent discount on AppleCare+ plans. This promotion is available exclusively through Apple’s Education Store and will run until September 30, 2024. Eligible students and staff can purchase Apple devices at reduced prices under this deal. One of the standout offers is the <keyword id="19927330" type="General" weightage="20" keywordseo="MacBook-Air" source="keywords">MacBook Air</keyword>, which is available at a starting price of Rs 89,900, and comes with a free set of AirPods 4. Additionally, the <keyword id="20025151" type="General" weightage="20" keywordseo="iPad-Air" source="keywords">iPad Air</keyword> is priced at Rs 54,900 and includes a complimentary Apple Pencil. For those seeking higher-end devices, Apple is also offering discounts on its premium products. The MacBook Pro can be purchased starting at Rs 158,900, while the iPad Pro is available for Rs 89,900. Both of these devices come with either AirPods or an Apple Pencil, depending on the model. Apple’s Mac Mini and iMac are also part of this educational promotion, offering savings and coming bundled with free AirPods. <h2>How to access the deal </h2> To get the discounts or free AirPods 4 and Apple Pencil, students and staff will have to verify their status through Unidays, a third-party service that confirms their eligibility. The verification process is straightforward and requires a valid university or educational institute ID. Once verified, customers can access Apple’s Education Store and complete their purchase. It is important to note that this promotion cannot be combined with other offers, such as no-cost EMI or cashback from banks. Additionally, the offer is only valid for purchases made during the promotional period, which concludes on September 30, 2024.

You can get free Apple Airpods 4 and Apple Pencil with this limited-time deal in India, details here

The rupee stayed range-bound and closed 3 paise lower at 83.46 (provisional) against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> on Thursday amid a strong American currency and rising crude oil prices in global markets. <keyword id="20024982" type="General" weightage="20" keywordseo="forex-traders" source="keywords">Forex traders</keyword> said positive sentiment in the domestic equity markets and the inflow of <keyword id="20480744" type="General" weightage="20" keywordseo="foreign-capital" source="keywords">foreign capital</keyword> capped a sharp fall in the domestic currency. At the interbank foreign exchange, the domestic unit opened strong at 83.41 and touched the intra-day low of 83.49 against the greenback. The local unit finally settled at 83.46 (provisional) against the dollar, down 3 paise from its previous close. The rupee had settled 2 paise higher at 83.43 against the dollar on Tuesday, a day after losing 7 paise on Monday. The foreign exchange market was closed on Wednesday on account of Maharashtra Day. On Wednesday, the US Federal Reserve decided to maintain the status quo on the benchmark interest rates, in line with the market expectations. Anuj Choudhary, Research Analyst, Sharekhan by BNP Paribas, said the rupee fell on disappointing <keyword id="20313555" type="General" weightage="20" keywordseo="PMI-data" source="keywords">PMI data</keyword> from India. "However, positive domestic markets...cushioned the downside." Meanwhile, India's manufacturing PMI fell to 58.8 in April 2024 from 59.1 in the previous month. The seasonally adjusted HSBC India Manufacturing Purchasing Managers' Index (PMI), however, recorded the second fastest improvement in operating conditions in three-and-a-half years supported by buoyant demand, a monthly survey said on Thursday. "We expect the rupee to trade with a slight negative bias on dismal PMI data and expectations of a recovery in the US dollar amid further delay in rate cut by Fed. However, weak crude oil prices and positive domestic markets may support the rupee at lower levels," Choudhary said, adding, "USD-INR spot price is expected to trade in a range of Rs 83.25 to Rs 83.70". Analysts also said market participants are expected to keep a close watch on the US non-farm payroll data to be released on Friday. Besides, weekly unemployment claims, trade balance and factory order data from the US may provide further cues. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.04 per cent to 105.67. Brent crude futures, the global oil benchmark, climbed 0.91 per cent to USD 84.20 per barrel. On the domestic equity market front, Sensex climbed 128.33 points, or 0.17 per cent, to settle at 74,611.11, and Nifty rose 43.35 points, or 0.19 per cent, to close at 22,648.20. Foreign institutional investors (FIIs) were net buyers in the capital markets on Tuesday, as they purchased shares worth Rs 1,071.93 crore on a net basis, according to exchange data. India's Goods and Services Tax (GST) collections grew 12.4 per cent to a record high of Rs 2.10 lakh crore in April, aided by strong economic momentum and increased domestic transactions and imports, the finance ministry said on Wednesday. SEE ALSO:<a href="https://www.businessinsider.in/sports/webstories/india-t20-world-cup-squad-kulcha-back-on-menu-kl-rahul-dropped/slidelist/109730805.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/india-t20-world-cup-squad-kulcha-back-on-menu-kl-rahul-dropped/slidelist/109730805.cms" target="_blank">India T20 World Cup squad: KulCha back on menu, KL Rahul dropped</a><a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/april-auto-sales-hyundai-continues-to-hold-the-second-position-as-tata-motors-inches-closer/articleshow/109777834.cms" target="_blank">April auto sales – Hyundai continues to hold the second position as Tata Motors inches closer</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank">Upcoming cars and two-wheelers launching in India in May 2024</a>

Rupee falls 3 paise to settle at 83.46 against US dollar

The <keyword id="19949639" type="General" weightage="20" keywordseo="rupee" source="keywords">rupee</keyword> traded on a flat note at 83.43 against the <keyword id="19949640" type="General" weightage="20" keywordseo="US-dollar" source="keywords">US dollar</keyword> in early trade on Thursday amid a strong greenback after the American central bank decided to keep <keyword id="20071327" type="General" weightage="20" keywordseo="interest-rate" source="keywords">interest rate</keyword> unchanged. Forex traders said that an upward movement in the <keyword id="20024983" type="General" weightage="20" keywordseo="crude-oil-prices" source="keywords">crude oil prices</keyword> also pressured the Indian currency. However, it found support from positive domestic <keyword id="19911354" type="General" weightage="20" keywordseo="equity-market" source="keywords">equity market</keyword> sentiment and inflow of foreign capital. At the interbank foreign exchange, the domestic unit opened strong at 83.41 but later slipped to its previous closing level of 83.43 against the dollar. The rupee had settled 2 paise higher at 83.43 against the dollar on Tuesday, a day after losing 7 paise on Monday. Foreign exchange market was closed on Wednesday on account of Maharashtra Day. On Wednesday, the US Federal Reserve decided to maintain the status quo on the benchmark interest rates, which was in line with the market expectations. Analysts said that market participants will keep a close watch on the US non-farm payroll data to be released on Friday. Meanwhile, the dollar index, which gauges the greenback's strength against a basket of six currencies, rose 0.02 per cent to 105.64. Brent crude futures, the global oil benchmark, advanced 0.56 per cent to USD 83.91 per barrel. In the domestic equity market, the 30-share BSE Sensex was trading 152.67 points or 0.20 per cent higher at 74,635.45. The broader NSE Nifty advanced 25.75 points or 0.11 per cent to 22,630.60. Foreign institutional investors (FIIs) were net buyers in the capital markets on Tuesday, as they purchased shares worth Rs 1,071.93 crore on a net basis, according to exchange data. India's Goods and Services Tax (GST) collections grew 12.4 per cent to a record high of Rs 2.10 lakh crore in April, aided by strong economic momentum and increased domestic transactions and imports, the finance ministry said on Wednesday. SEE ALSO:<a href="https://www.businessinsider.in/sports/webstories/india-t20-world-cup-squad-kulcha-back-on-menu-kl-rahul-dropped/slidelist/109730805.cms" target="_blank"></a> <a href="https://www.businessinsider.in/sports/webstories/india-t20-world-cup-squad-kulcha-back-on-menu-kl-rahul-dropped/slidelist/109730805.cms" target="_blank">India T20 World Cup squad: KulCha back on menu, KL Rahul dropped</a><a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/upcoming-cars-and-two-wheelers-launching-in-india-in-may-2024/slidelist/109723620.cms" target="_blank">Upcoming cars and two-wheelers launching in India in May 2024</a><a href="https://www.businessinsider.in/business/auto/news/mahindra-xuv-3xo-compact-suv-launched-in-india-starting-at-7-49-lakh/slidelist/109715525.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/auto/news/mahindra-xuv-3xo-compact-suv-launched-in-india-starting-at-7-49-lakh/slidelist/109715525.cms" target="_blank">Mahindra XUV 3XO compact SUV launched in India starting at ₹7.49 lakh</a>

Rupee turns flat at 83.43 against US dollar in early trade

<ul class="summary-list"><li>The US military may be forced to confront a Chinese invasion of Taiwan without top allies.</li><li>Japan, Australia, the UK and Canada are likely to provide no military forces to counter China.</li></ul>If the US decides to defend Taiwan from Chinese invasion, it may have to do so alone.Several of America's biggest allies are unlikely to commit troops to save Taiwan, either because they lack the military capability or don't want to risk all-out war with an increasingly formidable China, according to a new <a target="_blank" href="https://www.rand.org/pubs/research_reports/RRA3108-1.html">report</a> by the RAND Corp..For Japan, Australia, the UK and Canada, aid "would be confined to diplomatic support for Taiwan and endorsement of likely US sanctions on China," concluded RAND, an American think tank, which surveyed experts in the four nations. If this proves right, it means that any military response to a <a target="_blank" class="" href="https://www.businessinsider.com/us-missing-how-china-could-seize-taiwan-without-invading-experts-2024-5">Chinese invasion</a> would be limited to American forces."Our respondents believe that the US will receive logistics and materiel support from other countries, but its forces will have to go it alone in responding to an invasion by China," Rafiq Dossani, a RAND senior economist who co-authored the study, told Business Insider. However, there was more support in Japan and Australia to commit their navies to assisting an American-led effort to break a Chinese blockade of Taiwan.That Canada, for example, might not be able or eager to rush to Taiwan's defense isn't a surprise. But for Japan, whose security would be gravely affected by a Chinese takeover of Taiwan, the issue is more complicated."Despite its military power, commitment to the region, and US backing, Japanese pacifism (both popular and constitutional) and the fear of a retaliatory attack by China are likely to limit Japan's <a target="_blank" class="" href="https://www.businessinsider.com/us-arming-taiwan-against-china-invasion-but-it-could-backfire-2023-11">military support for Taiwan</a>, perhaps only to logistics and supplies," RAND said. "Any support that they would offer to a US-led military response would likely be limited to logistics and materiel support."The goal of the RAND study, which was sponsored by Taiwan's Ministry of Foreign Affairs, was to examine how America's medium-sized allies may deter or mediate a <a target="_blank" class="" href="https://www.businessinsider.com/chinas-taiwan-drills-looked-like-rehearsal-for-invasion-us-admiral-2024-5">conflict between China and Taiwan</a>, a democratic island that China's communist leaders consider a breakaway province. The US is highly dependent on its regional allies like South Korea and Japan for basing, but the prospect it would have to fight without their ships and troops against what's likely to be a larger Chinese force may tarnish its deterrent power.Researchers classified Japan, Australia, the UK and Canada as "middle powers," which RAND defined as nations "that are not small but lack the sheer size and influence to significantly disrupt the global order." The study excluded nations that already faced a risk of direct conflict with China, the US and their respective allies. India and South Korea were also excluded "because those countries have declared that they will not play a mediating role in a cross-Strait conflict."RAND sent questionnaires to 49 diplomats, defense officials, policy analysts, business executives, journalists and legislators in the four nations. The various responses shared "remarkably common" views about a <a target="_blank" class="" href="https://www.businessinsider.com/china-doesnt-have-military-power-invade-taiwan-experts-csis-us-2024-1">China-Taiwan war</a>.What is especially striking is the pessimistic self-image. The British experts, for example, felt that "the UK's distant location and weak military assets, in addition to its trade dependence on China, lead to limited UK interest in defending Taiwan militarily."Nor do the four US allies believe that Beijing fears them enough to refrain from <a target="_blank" class="" href="https://www.businessinsider.com/us-missing-how-china-could-seize-taiwan-without-invading-experts-2024-5">attacking Taiwan</a>. "Our respondents thought that China views these four middle-power countries as too weak militarily to take on China on their own and as marginal players in a US-led coalition," the report found.On the other hand, America's top allies don't <a target="_blank" class="" href="https://www.businessinsider.com/china-trying-boost-its-economy-is-china-preparing-war-taiwan-2024-5">share</a> <a target="_blank" class="" href="https://www.businessinsider.com/red-flags-tell-us-when-chinas-ready-to-invade-taiwan-2024-4">American fears</a> that a <a target="_blank" class="" href="https://www.businessinsider.com/us-military-china-missile-problem-getting-worse-2024-5">massive Chinese military buildup</a> and Chinese leader <a target="_blank" class="" href="https://www.businessinsider.com/xi-claim-us-trying-trick-china-invaded-taiwan-divide-allies-experts-2024-6">Xi Jinping's</a> avowed determination to "reunify" Taiwan with China are steps toward war, but rather may be nationalistic posturing. "According to our respondents, China's main goal is to legitimize its current domestic political system (i.e., the rule of the Chinese Communist Party)," the report said. "To accomplish this goal, China must be seen within as a great power, preeminent in Asia, and able to achieve high economic growth. An invasion of Taiwan would jeopardize such perceptions and thus be deemed an unacceptable risk relative to the status quo."<a target="_blank" class="" href="https://www.businessinsider.com/how-taiwan-seals-would-fight-a-chinese-military-invasion-2021-12">Taiwan's military</a> is not inconsequential, with nearly 200,000 active-duty soldiers, anti-ship missiles and <a target="_blank" class="" href="https://www.businessinsider.com/how-taiwan-could-use-sea-mines-to-stop-chinese-invasion-2024-3">mines</a>, and soon F-16 fighters and submarines. But this is a fraction of <a target="_blank" class="" href="https://www.businessinsider.com/china-showed-how-easily-no-notice-it-can-surround-taiwan-2024-6">China's military</a> might, and Taiwan would probably need outside assistance to repel an invasion or <a target="_blank" class="" href="https://www.businessinsider.com/us-missing-how-china-could-seize-taiwan-without-invading-experts-2024-5">break a blockade</a>. While the US would provide the bulk of such a relief effort, allied contributions would be vital, as would unfettered use of bases in Japan and Australia.To American hardliners already resentful that some <a target="_blank" class="" href="https://www.businessinsider.com/trump-didnt-scare-nato-defense-spending-putin-did-experts-2024-2">NATO nations </a>aren't spending enough to defend Europe, the reluctance of its allies may smack of cowardice, and stick the US with the burden of Pacific security. But this may also reflect military and geographic reality. Canada's small military could muster only a token force for Taiwan's defense. Britain's shrinking armed forces, which already have European commitments, would struggle just to dispatch a small carrier task force 6,000 miles to the <a target="_blank" class="" href="https://www.businessinsider.com/china-ax-attack-philippines-south-china-sea-grab-territory-experts-2024-6">South China Sea</a>.Though <a target="_blank" class="" href="https://www.businessinsider.com/aukus-plans-for-new-submarine-base-amid-increased-undersea-competition-2023-5">Australia</a> is a Pacific nation, and has diesel-electric submarines and F-35 stealth fighters, it still lacks the ability to project and sustain military operations 5,000 miles away in Taiwan.But the biggest question mark is Japan: Okinawa is about 500 miles from Taiwan, Japan has territorial disputes with China over various islands in the East China Sea, and the Japanese military is rated among the 10 most powerful in the world. Furthermore, Japan's territory and the US military bases it hosts will be essential to any <a target="_blank" href="https://www.businessinsider.com/us-plans-turn-taiwan-strait-into-drone-hellscape-against-china-2024-6">US effort</a> to counter China.Yet if Japan, Australia, Britain and Canada are reluctant to confront China, there are actions they can take to help Taiwan. RAND recommends that they create a joint plan for trade sanctions to deter China from attacking Taiwan. In addition, the four middle powers could play a role in mediators to prevent a Taiwan war from happening."Indeed, middle powers might be the only ones that can play a mediating role in such a conflict if tensions between the great powers were to escalate," the study noted. "However, as of this report's writing, no middle power has enough influence over both great powers to play such a role, even in coalition with other middle powers."Which means these middle-ranked nations need to build up their capabilities, military and otherwise. "To build credibility with both great powers, the four middle powers need to rebuild and bolster their strategic autonomy, material power, and commitment to the Asia-Pacific region."The study also implicitly raises questions about how much the US can count on its NATO allies for support outside Europe. While NATO nations did send small contingents during the Afghan war, confronting China is different."I think that NATO should take seriously the possibility of European middle powers preferring not to be involved in a conflict in which their adversary does not directly threaten their national security," Dossani said."Michael Peck is a defense writer whose work has appeared in Forbes, Defense News, Foreign Policy magazine, and other publications. He holds an MA in political science from Rutgers Univ. Follow him on <a target="_blank" href="https://www.twitter.com/@mipeck1">Twitter</a> and <a target="_blank" href="https://www.linkedin.com/in/mipeck/">LinkedIn</a>.

In a Taiwan war, the US could find itself fighting China without its top allies

<ul class="summary-list"><li>TikTok is suing the US government over its new law that forces a sale or ban of the app.</li><li>The company has argued that the law violates its users' First Amendment rights.</li></ul>TikTok promised to fight its potential ban in the US — and now the social-media giant has made it official.TikTok and its parent company, ByteDance, sued the federal government on Tuesday to halt a nationwide ban on the app, according to a <a target="_blank" href="https://sf16-va.tiktokcdn.com/obj/eden-va2/hkluhazhjeh7jr/AS%20FILED%20TikTok%20Inc.%20and%20ByteDance%20Ltd.%20Petition%20for%20Review%20of%20H.R.%20815%20(2024.05.07)%20(Petition).pdf?x-resource-account=public">petition</a> filed by the company on May 7.The bill, which was bundled with foreign aid and signed into law by <a target="_blank" href="https://www.businessinsider.com/banning-tiktok-could-haunt-bidens-reelection-campaign-2024-3">President Joe Biden</a> on April 24, gives ByteDance nine months to a year to sell or spin off TikTok's American assets or face a ban from US app stores.The legislation specifically mentioned TikTok and ByteDance but could affect other apps with ties to China, Russia, or other countries that the US considers foreign adversaries.State and federal politicians have spent years trying to assert greater control over TikTok's US operations.Politicians fear that ByteDance — which is headquartered in Beijing — could be compelled to share US user data with the Chinese Communist Party or run influence operations on its behalf.TikTok has denied both these claims and the US government has yet to present formal evidence that either action has occurred.TikTok's legal arguments are based on the First Amendment, which says that Congress can't pass a law that inhibits free speech. TikTok argues in the suit that the bill — called the Protecting Americans from Foreign Adversary Controlled Applications Act — deprives the app's 170 million American users of their First Amendment rights.TikTok also said in the petition that selling the app would be "simply not possible."Legal scholars told Business Insider that well-articulated First Amendment arguments tend to prevail in court but <a target="_blank" href="https://www.businessinsider.com/tiktok-ban-bill-is-first-amendment-disaster-may-survive-courts-2024-4">Congress' national-security concerns</a> could ultimately win out."The First Amendment is the trump card that basically allows you to prevail if you can plausibly make a First Amendment argument," G.S. Hans, an associate clinical professor of law at Cornell Law School and associate director of its First Amendment Clinic, told BI. "National security also is a trump card, and the government often wins when it claims that. The question for me is, 'Which trump card does the court think is more valuable?'"TikTok's case will be heard in the US Court of Appeals for the DC Circuit. Matthew Schettenhelm, a senior litigation analyst at Bloomberg Intelligence, told BI that this appellate court tends to have deference to Congress on national-security issues."National security is pretty much at the top of the list of those things where the DC Circuit judges are going to tread very carefully before they interfere," Schettenhelm said. He estimated that the law had a 70% chance of surviving a legal challenge.The US is not the first country to target TikTok because a Chinese company owns it. <a target="_blank" href="https://www.businessinsider.com/why-did-india-ban-tiktok-us-states-fcc-government-2023-1">India banned the app</a> in 2020 amid its geopolitical dispute with China.TikTok referred BI to the petition when asked for comment.May 7, 2024, 12:58 p.m. ET: This story has been updated with additional details.

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