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<div type="image" title="For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire" height="900" width="1200" msid="114064202" hostid="261" caption="&amp;lt;p&amp;gt;For the unversed, trading in futures and options can be akin to setting their hard-earned money on fire&amp;lt;/p&amp;gt;"></div> Once upon a time, there thrived a wild, wild land. Here, it was all about super high monetary stakes, lightning-fast trade deals, and bucketloads of money shifting hands every single second. This wilderness lured millions of individuals with the promise of super duper high returns. But, at what cost? Welcome to the unforgiving, ultra-risky wild west of <keyword id="19991165" type="General" weightage="20" keywordseo="Indian-equity-markets" source="keywords">Indian equity markets</keyword> called the <keyword id="145718" type="General" weightage="100" keywordseo="Futures-and-Options" source="Orion">futures and options</keyword>. Here, everyone seems to just fly right through the bright red-flagged warnings of financial risks to earn even a fraction of these promised returns. Most burn themselves in the process, but carry on nevertheless, as if nothing ever happened. <h2>Chasing the cloudy profits</h2>The data conclusively proves that every 9 out of 10 individuals only lost their hard-earned money in this land. But hey, what do the numbers know? Some hide their losses out of shame, some out of fear. The proponents, meanwhile, proudly boast unusually high returns on their investments, some open social media channels while others encourage their friends and family to take the plunge. Naturally, news of this unstoppable and humongous en-masse migration to the F&amp;O (futures and options) town has reached sheriff <keyword id="19901201" type="General" weightage="20" keywordseo="SEBI" source="keywords" meta.keywordsubtype="org" meta.entityname="SEBI" meta.hostid="261" meta.entityid="SEBI">SEBI</keyword>, galvanising them into action. After all, it was time to put a leash on this madness and save the common man. The inhabitants of this town doubled in the last 2 years, from 51 lakh in FY22 to 96 lakh in FY24—99.8% of whom were small and mid-income traders. But profits? Well, that's a different, rather completely absent story. <h2>Que Sera Sera, much?</h2>A recent report by SEBI (Securities and Exchange Board of India) that studied profits and losses made by traders in the equity derivatives segment between FY22-24 exposed the mad mania of futures and options trading in India, especially since the pandemic. Per the report, 91.1% of individual traders, or about 73 lakh traders had only lost money trading in futures and options in FY24. Between FY 22-24, over 1 crore traders, or about 92.8% of individual traders, had lost Rs 2 lakh each. But once bitten, twice shy? Well, not in this case. More than 75% of individuals, who had only made losses trading in F&amp;O in FY22 and FY23, continued to trade vigorously in FY24 as well, without any changes in the bottom line, which remained deep in red and negative. So, then all these traders must be uber-rich, with tons of cash and not much care to spare? Nope. 76% of traders in the F&amp;O space in FY24 had an annual income of less than Rs 5 lakh. 2 years ago, their share stood at 71%. And their choice of poison? Options! In FY24, 60% of traders made losses trading in futures, but a whopping 91.5% burnt their funds trading in options. Mind you, futures are riskier than options. With futures, which require significant capital investment, the buyer and seller both are contractually bound to adhere to the pre-determined strike price of the futures or options contract, irrespective of whether the prevailing prices are higher or lower (and thus, resulting in losses for either the buyer or seller). With options, since this adherence ain't necessary, individuals end up taking debt to take highly leveraged positions while trading here. <h2>Scale of the explosion</h2>Anyone who trades even infrequently will tell you that a demat account is the mitochondria or powerhouse of the trading cell. As of August 2024, India had over 17.1 crore <keyword id="20957284" type="General" weightage="20" keywordseo="demat-accounts" source="keywords">demat accounts</keyword>, which are a prerequisite for trading in the markets. India is the 9th biggest country in the world, in terms of total demat accounts. Did you know that our demat accounts are at par with the entire population of Bangladesh? Talk about scale! Just 4 years ago, in March 2020, this number was a mere 4 crore. Naturally, the total F&amp;O turnover on both <keyword id="20004725" type="General" weightage="20" keywordseo="NSE" source="keywords" meta.keywordsubtype="org" meta.entityname="NSE" meta.hostid="261" meta.entityid="NSE">NSE</keyword> and BSE has hit the roof, and also broken it. As of October 4, 2024, the total futures and options turnover on NSE stood at a massive Rs 4,78,27,27,750.30 crore. Good luck counting the thousands! <table style="border-width: initial; border-style: none;" class="redcator-table-advance"></colgroup><tbody><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Year </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">Total Turnover (Both Futures and Options) (In Rs Crore) </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2020-21 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">64,36,03,951.51 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2021-22 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">1,69,52,33,134.47 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2022-23 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">3,82,23,26,468.06 </td></tr><tr><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">2023-24 </td><td style="border-left:solid #000000 1pt;border-right:solid #000000 1pt;border-bottom:solid #000000 1pt;border-top:solid #000000 1pt;vertical-align:top;padding:5pt 5pt 5pt 5pt;overflow:hidden;overflow-wrap:break-word;">7,99,27,67,152.43 </td></tr></tbody><tbody></tbody><tbody></tbody><tbody></tbody></table>Source : NSE Another metric that underlines the meteoric growth of trading in India is the collection of STT or <keyword id="20930760" type="General" weightage="20" keywordseo="Securities-Transaction-Tax" source="keywords">Securities Transaction Tax</keyword>. As of September 2024, India's STT mop-up had gone past Rs 26,000 crore. Traders have to pay STT whenever they buy or sell any security in the market. So, more trading brings in more STT, and hence, more revenue for the government, so they're not really complaining. After all, this is certainly what they'd call enviable growth. As of August 2023, our STT collection stood at about Rs 21,599 crores. And in FY20-21, India's STT collection had been Rs 16,000 crore. If only our salaries also managed to grow at this rate! <h2>So, what's happening?</h2>Two things. One, it's the big bulls who are raking in all the moolah. And it's the younger lot (those aged under 30) who are propping them up for this. In FY24, 43% of individual traders in the market were less than 30 years of age. In just one year, this number has swelled by 12 percentage points from just 31% of individual traders. But who says ageing is bad? Wrinkles and silver hair seemingly have a propensity of incurring lesser losses in the market. In FY24, only 79% of traders aged above 60 years made losses, as compared to 93% of those aged below 30. Small and mid-income traders, which make up 98% of the total trader base, witnessed average losses per person of Rs 65,000 and Rs 1.5 lakh in FY24 in futures and options, respectively. The winner here? Clearly, the big bulls, who declared an annual income of over Rs 1 crore, ended up with average profits of Rs 96,000 per person this year. <h2>What’s the sheriff up to?</h2>The government has finally swung into action, hiking the STT rate for F&amp;O during this year’s budget. Effective October 1, 2024, the STT on futures stands at 0.02%, up from 0.0125%. For options, it was upped to 0.1% versus 0.0625% previously. Small margins, but huge impact oncoming. Says Puneet Sharma- CEO and Fund Manager at Whitespace Alpha, “SEBI aims to enhance market stability while safeguarding investor interests, reflecting the regulator's intent to balance risk management with market participation”. But this might come with its own share of challenges, too. “Stricter norms around leverage, transparency, and capital adequacy could limit the ability of investors to determine their own risk appetite, thereby stifling innovation in trading strategies. Over-regulation in an environment that thrives on strategic flexibility and creativity could dampen the market’s dynamism, affecting India's competitiveness in the global derivatives landscape”, he observes. SEBI recently came out with a set of guidelines that aim to thwart <keyword id="19972907" type="General" weightage="20" keywordseo="retail-investors" source="keywords">retail investors</keyword>' participation in futures and options and hinder them from taking undue risks. Here's a quick recap of what's to come for the residents of the F&amp;O town Margin Requirements: To battle the high volatility and chaos which is generally seen on expiry days(i.e the last mandated date, post which an option becomes invalid), SEBI will put in place an extreme loss margin (ELM) of 2% for all open short options on the day of expiry. Translation? Traders will need to pony up more cash upfront, leaving them with fewer funds to take on risky bets. It ain't a choice: No more of one expiry every single day! Going ahead, an exchange like BSE or NSE will just be able to offer weekly expiries, that too, only on one benchmark index, as opposed to an entire buffet it currently offers. At present, NSE offers weekly options contracts for its financial index, bank and midcap indices. But say goodbye to this, and hello to derivatives on only 1 index per exchange. Raising the bar: Effective November 30, 2024, the minimum contract value for index derivatives will be upped to Rs 15 lakh, from the present Rs 5-10 lakh. The hope is that by making it ultra-expensive to enter these trades, investors will be dissuaded from taking on risky trades. Pay upfront: Starting February 2025, those trading in options will have to pay the entire options premium upfront, even before their trades are executed. This is because options generally carry very high leverage, and paying a significant sum upfront can force traders to think twice. Invigilation Pro Max: Starting April 1 2025, to make sure that the number of positions for equity index derivatives does not slyly slip over the mandated limit, especially on expiry days when trade volumes are huge, the exchanges will have to take a minimum of 4 position snapshots randomly. The question is, will these injections of sobriety be enough to calm down the steroid-fed bull of the futures and options market in India? Well, only time and market turnover will tell! For more insights into the financial markets and business news, stay tuned to our site and social media handles. And don’t forget to subscribe to Business Insider India’s newsletters for your weekly dose of Simply Put! Disclaimer: The content on this website is for informational purposes only and should not be construed as investment advice. We recommend readers consult certified, qualified and registered advisors for professional and personalised financial advice.

SIMPLY PUT: SEBI is on a mission to take on the wild, wild west of futures and options in India. Here’s why, what, and how

India is organizing the 'Global <keyword id="22243491" type="General" weightage="20" keywordseo="IndiaAI-Summit-2024" source="keywords">IndiaAI Summit 2024</keyword>' under the aegis of the Ministry of Electronics and Information Technology, scheduled for July 3-4 in New Delhi. According to a press release by the Ministry of Electronics and IT, the summit aims to foster collaboration and facilitate knowledge exchange among international <keyword id="22243492" type="General" weightage="20" keywordseo="AI-experts" source="keywords">AI experts</keyword>, reinforcing India's dedication to ethical and inclusive AI growth. The Global IndiaAI Summit 2024 will serve as a vital platform for stakeholders from diverse sectors, including science, industry, civil society, governments, international organizations, and academia. These experts will convene to discuss key AI issues, share insights, and address the challenges faced by the <keyword id="20055332" type="General" weightage="20" keywordseo="AI-ecosystem" source="keywords">AI ecosystem</keyword>. By hosting this summit, India is reaffirming its role as a proactive player in the global AI community, focusing on advancing technologies that are safe, secure, and beneficial to society. As the lead chair of the Global Partnership on Artificial Intelligence (GPAI), India is set to host member countries and experts to advance GPAI's commitment to trustworthy AI practices. The summit aims to showcase India's capability to lead in the AI domain and emphasizes the country's goal of ensuring that AI benefits are accessible to all, thereby contributing to the nation's socio-economic development. Central to the summit is the <keyword id="20869035" type="General" weightage="20" keywordseo="IndiaAI-Mission" source="keywords">IndiaAI Mission</keyword>, an initiative designed to build a comprehensive ecosystem that promotes AI innovation across the country. This mission focuses on democratizing access to computing resources, enhancing data quality, developing indigenous AI capabilities, attracting top AI talent, fostering industry collaboration, providing risk capital to startups, ensuring the societal impact of AI projects, and promoting <keyword id="20750054" type="General" weightage="20" keywordseo="ethical-AI-practices" source="keywords">ethical AI practices</keyword>, read the press release. The IndiaAI Mission is built upon seven key pillars, each targeting a crucial aspect of AI development and deployment. The first pillar, IndiaAI Compute Capacity, aims to establish a scalable AI computing ecosystem with over 10,000 GPUs through public-private partnerships. This will include the creation of an AI marketplace offering AI as a service and pre-trained models, providing essential resources for AI innovators and researchers. The second pillar, IndiaAI Innovation Centre, focuses on developing and deploying large multimodal models (LMMs) and domain-specific foundational models tailored to the unique needs of India's diverse industries and sectors. The third pillar, IndiaAI Datasets Platform, seeks to streamline access to high-quality non-personal datasets through a unified platform. This initiative will support Indian startups and researchers by providing seamless data access, thereby aiding in the development of robust AI models. The fourth pillar, IndiaAI Application Development Initiative, aims to promote AI applications across critical sectors by addressing problem statements from various government bodies and institutions, focusing on creating impactful AI solutions for large-scale socio-economic transformation, read the press release. The fifth pillar, IndiaAI FutureSkills, is dedicated to reducing barriers to AI education by increasing the availability of AI courses at different academic levels and establishing Data and AI Labs in Tier 2 and Tier 3 cities. This effort is crucial for building a steady pipeline of skilled AI professionals, ensuring that talent development keeps pace with technological advancements. The sixth pillar, IndiaAI Startup Financing, supports deep-tech AI startups by providing streamlined access to funding and risk capital, nurturing a vibrant ecosystem of AI startups that drive technological advancements and economic growth. The seventh pillar, Safe &amp; Trusted AI, emphasizes responsible AI development through the implementation of projects focused on ethical AI practices. This includes developing indigenous tools and frameworks and establishing guidelines for the transparency and trustworthiness of AI technologies. SEE ALSO:<a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank"></a> <a href="https://www.businessinsider.in/stock-market/news/vraj-iron-and-steel-ipo-allotment-how-to-check-allotment-ipo-gmp-listing-date-and-more/articleshow/111394752.cms" target="_blank">Vraj Iron and Steel IPO allotment – How to check allotment, IPO GMP, listing date and more</a><a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank"></a> <a href="https://www.businessinsider.in/business/telecom/news/reliance-jio-and-airtel-price-hike-new-plans-and-how-you-can-save-money/articleshow/111331794.cms" target="_blank">Reliance Jio and Airtel price hike – new plans and how you can save money</a><a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank"></a> <a href="https://www.businessinsider.in/tech/mobile/webstories/upcoming-smartphones-launching-in-india-in-july-2024/slidelist/111304902.cms" target="_blank">Upcoming smartphones launching in India in July 2024</a>

India to host Global India AI Summit 2024 in New Delhi on July 3-4

The fastest way to turn public sentiment in your favour might just be pulling off the sort of engineering marvel the world has never seen before and casually making history — because the internet cannot stop talking about <keyword id="19903807" type="General" weightage="20" keywordseo="Elon-Musk" source="keywords">Elon Musk</keyword> and his “chopsticks”. In case you don’t know what we’re talking about, <keyword id="19905255" type="General" weightage="20" keywordseo="SpaceX" source="keywords" meta.keywordsubtype="org" meta.entityname="SpaceX" meta.hostid="261" meta.entityid="SpaceX">SpaceX</keyword> recently “caught” its massive, 15-storey tall <keyword id="23544091" type="General" weightage="20" keywordseo="Super-Heavy-rocket" source="keywords">Super Heavy rocket</keyword> Booster as it approached Earth using mechanical arms — the <keyword id="20215700" type="General" weightage="20" keywordseo="chopsticks" source="keywords">chopsticks</keyword> in question. After its launch in Texas, the booster returned to pad just 7 minutes later and neatly fell into the tower’s arms.<div type="twitter" handle="shaunmmaguire" handlename="shaunmmaguire" favoritecount="0" retweetcount="0" id="1845444890764644694"></div>These massive mechanical arms on the launch tower were designed to catch the <keyword id="23533141" type="General" weightage="20" keywordseo="rocket-booster" source="keywords">rocket booster</keyword> mid-air as it returned to the launch pad, rather than letting it crash into the ground or splash into the ocean. Might we add, this was a test flight that was a part of Elon Musk’s efforts to make the Starship system fully reusable and they got it right in the first try! Meanwhile, the Starship rocket, which flew to more than 130 miles in altitude, also successfully completed a controlled descent into the Indian Ocean. SpaceX intends on finding ways to make that reusable as well. And as Elon himself said, this is an important step towards making <keyword id="23544092" type="General" weightage="20" keywordseo="multiplanetary-travel" source="keywords">multiplanetary travel</keyword> possible — something the man’s been talking about for years.<div type="twitter" handle="elonmusk" handlename="elonmusk" favoritecount="0" retweetcount="0" id="1845463518671466934"></div>But as mind-numbingly cool as this entire event was, how exactly do these chopsticks tie into the multiplanetary transport goal — and also potentially alter the course of human history? <h2>Boosting reusability and good ol’ cost-cutting</h2>Sending a rocket to space and having it come back usually means that it's going to splash down in water or worse — hard-land. Traditionally, rockets are either destroyed after use or land in the ocean, requiring complex recovery operations. By catching the rocket more gently using the chopstick manoeuvre, the rocket booster experiences less damage and can be refurbished and reused more quickly and with fewer repairs. This brings us to the other important barrier in making interplanetary travel a thing: how insanely expensive it is. SpaceX's goal is to make space travel affordable and efficient by reusing rockets instead of discarding them after each launch. Fully <keyword id="23532644" type="General" weightage="20" keywordseo="reusable-rockets" source="keywords">reusable rockets</keyword> drastically reduce the costs of launching payloads into space, making regular <keyword id="20018231" type="General" weightage="20" keywordseo="space-missions" source="keywords">space missions</keyword> more feasible. By catching and reusing the massive Super Heavy boosters, SpaceX can slash the costs associated with building new rockets for every mission. Not to mention, it would also help cut costs if we didn’t need to go fetch the booster back from remote landing sites. <h2>More efficient and frequent launches!</h2>Apart from the cost aspect of it, the ability to catch and reuse these massive boosters directly at the launch site means SpaceX can streamline the whole launch process as it eliminates the need to transport the boosters back. Reusability also means that SpaceX can shorten the time between launches, allowing for more frequent spaceflights. This would also save time and resources, making space missions more practical and sustainable for the long haul. This means the company can launch more often, potentially sending supplies, habitats, and crew to the Moon or Mars on a regular basis. For humanity to survive and thrive on another planet, we’ll need a reliable and consistent flow of resources. The "Chopsticks" help create a logistical system where rockets can be prepped and launched frequently, something critical for long-term colonisation. <h2>Scaling up for deep space missions</h2>The Super Heavy booster that the "Chopsticks" caught isn’t just any rocket — it’s the most powerful ever built. Starship, the spacecraft designed to ride atop this booster, is intended to carry massive payloads, including people and cargo, on interplanetary missions. The ability to catch and reuse such a large rocket is a technical leap that will make future missions to the Moon, Mars, and beyond more feasible. However, safely recovering and reusing these enormous boosters is a technical challenge that SpaceX needs to master if it hopes to send frequent missions to Mars. With each test flight, SpaceX refines the technology that will one day send astronauts to colonise other planets. And by developing this technology, SpaceX is paving the way for the continuous, cost-effective supply chain necessary to support human colonies on other planets. <div type="Article" hostid="261" msid="113162328" title="Elon Musk: SpaceX to launch first Starships to Mars in two years" mstype="2" mssubtype="0"></div>

3 ways SpaceX’s “chopsticks” tie into making multiplanetary transport possible!

<ul class="summary-list"><li>India's Prime Minister Narendra Modi won a narrower-than-expected reelection victory.</li><li>But the setback likely won't deter his global ambitions.</li></ul>India's Prime Minister <a target="_blank" href="https://www.businessinsider.com/indian-election-results-shocking-blow-narendra-modi-2024-6">Narendra Modi</a> emerged from Tuesday's election victory with his air of invincibility damaged.The strongman leader of the world's largest democracy had been predicted to win reelection for a third term by a landslide.But his Bharatiya Janata Party <a target="_blank" href="https://www.businessinsider.com/india-election-results-narendra-modi-bjp-congress-2024-6">failed to gain enough seats</a> to claim outright victory, and it will need the support of coalition partners to form a government.The result, though, is unlikely to deter Modi, as he continues to pursue one of the core goals of his decade in power: transforming India into one of the world's most powerful nations.<h2 id="272ba8df-0d6b-4e4a-960e-7da93df8450f">A leader of the Global South</h2>Under Modi, India's growth has put it <a target="_blank" href="https://www.forbes.com/sites/benjaminlaker/2024/02/23/india-to-become-third-largest-economy-by-2027-implications-for-leaders/?sh=58b178754fd5">on the path</a> to becoming the world's third-biggest economy by 2027 — and it has become an important and increasingly abrasive global power player.Modi wants to position India as a leader of the Global South — a term often used to describe a group of developing nations — and for it to have a permanent position on the UN Security Council to mark its new global status.He has strengthened ties with the US, a long-standing ally, but he's also sought to build ties with Russia and has clashed with Asia's chief power, China.Modi will work to cement his foreign-policy legacy in his third term.<h2 id="c3e5a4c5-0e40-407e-a012-9b6448008edc">Countering Chinese aggression</h2>Richard Rossow, a senior advisor at the Center for Strategic and International Studies, told Business Insider that countering China's aggression and seeking foreign investment will be key focuses for Modi going forward."India's main priorities will remain unchanged," he said.A clash between India and China in June 2020 over a long-simmering Himalayan border dispute resulted in the death of 20 Indian soldiers. Meanwhile, tensions in the Indian Ocean are escalating, with <a target="_blank" href="https://www.businessinsider.com/china-produces-vast-undersea-maps-submarine-warfare-report-says-2024-1">a report from earlier this year</a> finding that China is mapping vast undersea areas in preparation for a potential naval conflict with the rival regional power.<div type="image" title="Biden Modi" height="2666" width="4000" msid="110739802" hostid="261"></div>India is part of the Quadrilateral Security Dialogue with the US, Australia, and Japan, and it'll be looking to counter China's aggression by strengthening these strategic relationships."On security affairs, India wants to continue building partnerships that can help it manage belligerent actions China is taking today and in the future. This includes robust engagement with nations in its own neighborhood, particularly in the maritime domain," Rossow said.<h2 id="1c4bdd94-6b6b-4a40-a00c-8ff78e101722">A dark side</h2>India's new assertiveness under Modi has a dark side.<a target="_blank" href="https://www.google.com/search?q=wapo+india+assassination&amp;rlz=1C5GCEM_enGB1112&amp;oq=wapo+india+assassination+&amp;gs_lcrp=EgZjaHJvbWUyBggAEEUYOTIICAEQABgWGB4yCAgCEAAYFhgeMg0IAxAAGIYDGIAEGIoFMgoIBBAAGIAEGKIEMgoIBRAAGIAEGKIEMgoIBhAAGIAEGKIEMgoIBxAAGIAEGKIEMgoICBAAGIAEGKIE0gEINDg2N2owajeoAgCwAgA&amp;sourceid=chrome&amp;ie=UTF-8">The Washington Post in April</a> reported that India's security services were behind the assassination of a dissident in Canada last June and the attempted assassination of a Modi critic in the US, claims that India has denied.Modi's disappointing election result is unlikely to change his often abrasive and aggressive pursuit of foreign goals."This election result is unlikely to have much of an impact on India's international security actions," Rossow said.<div type="image" title="Narendra Modi and Vladimir Putin" height="3196" width="4714" msid="110739803" hostid="261"></div>But Modi will face serious challenges in his efforts to cement India's new global status.India has bought vast quantities of Russian oil, and that money has been used by Putin to fund his war in Ukraine. This move has aggravated the US, which <a target="_blank" href="https://www.youtube.com/watch?v=aQ9WiQPyLFk&amp;ab_channel=Reuters">has reportedly</a> pressured Modi to stop the purchases.Putin's "no limits" relationship with China's Xi Jinping presents another strategic conundrum for Modi, who seems keen to retain good ties with Putin but is wary of China's global might.Modi's core challenges in the years ahead will be ensuring regional stability by avoiding war with China and Pakistan and continuing India's economic rise through vital domestic reforms."India's journey towards true great power capabilities is thus likely to be long and arduous," <a target="_blank" href="https://eastasiaforum.org/2024/04/21/indias-arduous-road-to-achieving-its-great-power-ambitions/">Ashley J. Tellis</a>, an analyst at the Carnegie Endowment for International Peace, wrote.Correction: June 5, 2024 — An earlier version of this story misstated which countries are part of the Quadrilateral Security Dialogue. It's a group consisting of India, the US, Australia, and Japan; the UK is not part of it.

Modi is on a mission to assert India's global power. His election setback won't deter him.

<ul class="summary-list"><li>US Marines and the guided-missile submarine USS Georgia trained together in the Mediterranean recently.</li><li>The exercises included launching small boats, executing combined-arms attacks, recovering personnel, and more.</li></ul>Stunning undersea photos from recent training exercises captured Force Reconnaissance Marines diving in the blue waters of the Mediterranean alongside the crew of the <a target="_blank" class="" href="https://www.businessinsider.com/us-aircraft-carrier-f-35-submarine-tomahawks-to-middle-east-2024-8">Ohio-class guided-missile submarine USS Georgia</a>.The larger training, which involved the Georgia, Marines from the 2nd Reconnaissance Battalion, and special operations forces, wrapped last week, US Naval Forces Europe-Africa/Sixth Fleet and the 2nd Marine Division said in a joint statement.The goal of the training was to develop and improve joint tactics and operations, ultimately making it easier to connect some of the <a target="_blank" class="" href="https://www.businessinsider.com/navy-seals-take-combat-diving-capability-to-another-level-2021-1">amphibious and special warfare capabilities and existing submarine missions</a>.<div type="image" title="Two US Marines swim out of the dry dock shelter of a US Navy submarine in blue ocean water." height="766" width="1106" msid="112533600" hostid="261" sizebytes="49750"></div>"Early in the series, Marines from the 2nd Force Reconnaissance Company launched and recovered small craft aboard USS Georgia in order to develop capabilities to execute combined arms attacks, advanced personnel recovery, and expeditionary theater undersea warfare deployments," the Navy and Marines said.Major W. Connor Smithson, the commander of the 2nd Force Reconnaissance Company, shared that the joint operational planning between some of the Marines and USS Georgia's sailors was "at a level not executed before between the US Marine Corps and the submarine force," though details were limited.The Force Reconnaissance Marines involved in the exercises are assets used for deep reconnaissance missions, accessing target areas and withdrawing from them in sometimes atypical ways.<div type="image" title="US Marines pull a small vessel out of the blue ocean onto the top of a US Navy submarine." height="3024" width="4032" msid="112533599" hostid="261" sizebytes="1798510"></div>In the photos shared online, the Marines could be seen operating out of the Georgia's modular, detachable dry deck shelter for divers. They could also be seen <a target="_blank" class="" href="https://www.businessinsider.com/stunning-photos-of-sailors-swimming-next-to-their-nuclear-submarine-2018-8">swimming around the sub in the open ocean</a>, which isn't something seen every day.Later in the recent training series, US Naval Special Warfare Operators completed Submarine-Special Operations Forces training with the Georgia, including participation from the the UK, Norway, and Italy. Last month, <a target="_blank" class="" href="https://www.businessinsider.com/navy-seals-dropped-in-on-a-submarine-in-the-pacific-2024-8">Navy SEALs on the US West Coast trained with the submarine USS Greeneville</a> for similar purposes, linking conventional forces up with special capabilities.<div type="image" title="A group of US Marines sit underwater in the dry deck shelter of a US Navy submarine." height="723" width="1096" msid="112533602" hostid="261" sizebytes="78874"></div>"The scale and importance of the accomplishments made by the teams onboard USS Georgia cannot be over-stated." said Capt. Benjamin Selph, the Task Force 69 commander, of the latest training. "Integration with joint and allied SOF enhances our undersea forces' ability to respond to any threat with increased speed and lethality."Just days after the completion the joint training, the Georgia submarine was ordered by US Secretary of Defense Lloyd J. Austin to <a target="_blank" class="" href="https://www.businessinsider.com/these-us-navy-warships-near-middle-east-going-to-region-2024-8">deploy to the Middle East</a> amid rising concerns over the possibility of a retaliatory attack on Israel from Iran could spark broader regional conflict that could put US forces and their partners at risk.<div type="image" title="Two US Marines dive in blue water above a US submarine in the open ocean." height="736" width="1099" msid="112533598" hostid="261" sizebytes="26428"></div>On Tuesday, Maj. Gen. Pat Ryder, the Pentagon's press secretary, said the Georgia hadn't arrived in the Central Command area of responsibility yet and was still on its journey from the Mediterranean Sea. The public announcements about its movement are unusual and are seen as <a target="_blank" class="" href="https://www.businessinsider.com/us-sending-powerful-submarine-middle-east-loud-warning-to-iran-2024-8">sending a message to Iran and its proxies</a>.The Georgia, which is home-ported in Kings Bay, Georgia, is assigned to Task Force 69, which is responsible for submarine operations within the 6th Fleet area. It can carry over 150 Tomahawk land-attack cruise missiles, as well as Mk-48 torpedoes.

Check out these stunning underwater photos of reconnaissance Marines diving next to a US missile submarine in the open ocean

Since the past week, the <keyword id="6355100" type="General" weightage="100" keywordseo="Indian-Navy" source="Orion">Indian Navy</keyword>'s showdown with <keyword id="19905062" type="General" weightage="20" keywordseo="somali-pirates" source="keywords">Somali Pirates</keyword> has dominated news headlines, capturing attention not only in India but across the globe. During this period, the navy successfully tracked and intercepted the <keyword id="739169" type="General" weightage="20" keywordseo="hijacked-vessel" source="Orion">hijacked vessel</keyword>, executed a 40-hour operation to coerce the pirates into surrendering, rescued hostages, and is now in the process of bringing the culprits back to India for legal action. But what precisely unfolded during these events? Here's a comprehensive recap of the events that transpired in the <keyword id="12350" type="General" weightage="20" keywordseo="Indian-Ocean" source="Orion">Indian Ocean</keyword>. <ul><li>Bulk carrier <keyword id="20972354" type="General" weightage="20" keywordseo="mv-abdullah" source="keywords">MV Abdullah</keyword>, flying the flag of Bangladesh, is seized by armed Somali pirates in the Indian Ocean, approximately 600 nautical miles east of Mogadishu, Somalia. </li><li>Upon receiving notification, a Long Range Maritime Patrol (LRMP) aircraft responds to the piracy attack on MV Abdullah on the evening of March 12, 2024. It attempts to establish communication to ascertain the status of the ship's crew members, but receives no response. </li><li>A diverted Mission Deployed warship intercepts the hijacked MV Abdullah on the morning of March 14. It ensures the safety of the MV's crew (all Bangladesh nationals) held hostage by the armed pirates and remains in the MV’s close vicinity until its arrival in the territorial waters of Somalia. </li><li>On March 15, the <keyword id="1155886" type="General" weightage="20" keywordseo="indian-navy-warship" source="Orion">Indian Navy warship</keyword> <keyword id="20119823" type="General" weightage="20" keywordseo="ins-kolkata" source="keywords">INS Kolkata</keyword> intercepts the MV, calling upon the pirates onboard to surrender and release the vessel and any civilians they may be holding against their will. </li><li>The MV opens fire on INS Kolkata, prompting the warship to take actions in self-defence and to counter piracy with minimal force necessary to neutralise the pirates’ threat to shipping and seafarers. </li><li>In a display of jointness and integration, an <keyword id="15141" type="General" weightage="20" keywordseo="Indian-Air-Force" source="Orion">Indian Air Force</keyword> C-17 aircraft executes a precision Airborne Drop of two Combat Rubberised Raiding Craft (CRRC) boats, along with Indian Navy MARCOS, in the Arabian Sea to support the ongoing anti-piracy ‘<keyword id="7783016" type="General" weightage="20" keywordseo="Operation-Sankalp" source="Orion">Operation Sankalp</keyword>’. </li><li>INS Kolkata, assisted by the Indian warship <keyword id="21000782" type="General" weightage="20" keywordseo="ins-subhadra" source="keywords">INS Subhadra</keyword>, High Altitude Long Endurance (HALE RPA) drones, P8I maritime patrol aircraft, and MARCOS PRAHARs parachuted by HALE RPA, carries out the interception of the Pirate Ship Ruen almost 1400 nm (2600 km) from the Indian Coast. It subsequently forces the pirate ship to stop through calibrated actions that include disabling the vehicle’s steering system and navigational aids. </li><li>On March 14, the 40-hour-long operation culminates with INS Kolkata successfully coercing all 35 Pirates to surrender and ensuring the safe evacuation of 17 crew members from the pirate vessel without any injury. </li><li>The 35 Somalian pirates who surrendered to the Indian Navy are now being brought back to India for prosecution.</li></ul> Typically, the Indian Navy adheres to standard protocols by apprehending pirates, disarming them, and subsequently permitting their departure after ensuring they no longer present a threat to other vessels. However, given the pirates' engagement in an act of aggression against the Indian Navy, coupled with concerns about these pirates regrouping and resuming attacks if allowed to depart freely, authorities have opted to bring them back to India. Meanwhile, the Ministry of Defence’s statement on this mission read: “The culmination of the ongoing Anti-Piracy operation involving pirate ship Ruen in the Southern Indian Ocean Region (IOR) highlights the commitment of the Indian Navy towards reinforcing peace and stability, and also to thwart the resurgence of Piracy in the region. The Indian Navy remains steadfast in performing its role as the 'First Responder' in IOR.”

Here’s a detailed recap of the Indian Navy's recent showdown with Somali Pirates

In a significant diplomatic move, Prime Minister Narendra Modi met with Maldives President Mohamed Muizzu at <keyword id="20751669" type="General" weightage="20" keywordseo="Hyderabad-House" source="keywords" meta.keywordsubtype="org" meta.entityname="Hyderabad House" meta.hostid="261" meta.entityid="Hyderabad House">Hyderabad House</keyword> in Delhi on Monday. This visit is widely seen as an effort to reset ties between the two nations after a year of tense relations. <keyword id="20101322" type="General" weightage="20" keywordseo="President-Muizzu" source="keywords">President Muizzu</keyword>, who arrived in India on Sunday for a five-day visit, received a red carpet welcome. During a joint press briefing, President Muizzu expressed heartfelt gratitude to India, thanking President Droupadi Murmu, <keyword id="19899320" type="General" weightage="20" keywordseo="PM-Modi" source="keywords">PM Modi</keyword> and the people of India for their warm reception. He emphasised the Maldives' deep-rooted ties with India, noting that tourism — especially Indian visitors—remains a crucial pillar of the Maldivian economy. “India is our largest source market for tourists, and we hope to welcome even more Indian visitors in the future,” Muizzu remarked. Key areas of cooperation discussed included economic ties and maritime security, critical given the Maldives' position in the Indian Ocean. Following their talks, India granted the financially struggling Maldives a rollover of USD 100 million in Treasury bills, in addition to formalising a <keyword id="23458604" type="General" weightage="20" keywordseo="currency-swap-agreement" source="keywords">currency swap agreement</keyword> and a ₹3,000 crore currency swap. Prime Minister Modi characterised the "development partnership" as a key component of India-Maldives relations, asserting that India has consistently prioritised the needs of the Maldivian people. "Our development partnership is vital to our relationship with the Maldives, and we have always placed importance on the priorities of its people. This year, SBI rolled over USD 100 million in Treasury Bills, and a USD 400 million currency swap agreement was signed based on the Maldives' requirements," he explained. <div type="Article" hostid="261" msid="106837748" title="Withdraw troops by mid-March, Maldives tells India" mstype="2" mssubtype="0"></div>In September, India announced that the <keyword id="19934368" type="General" weightage="20" keywordseo="State-Bank-of-India" source="keywords" meta.keywordsubtype="org" meta.entityname="State Bank of India" meta.hostid="261" meta.entityid="State Bank of India">State Bank of India</keyword> would purchase Maldivian government bonds worth USD 50 million, following a similar USD 50 million transaction in May 2024. Additionally, Prime Minister Modi and President Muizzu witnessed the first <keyword id="20563654" type="General" weightage="20" keywordseo="RuPay-card" source="keywords">RuPay card</keyword> payment transaction launched in the Maldives and virtually inaugurated the runway at Hanimaadhoo International Airport. Modi stated that India and the Maldives would soon be connected through UPI. "Recently, we launched the RuPay card in the Maldives, and in the future, we will link both countries via UPI," he said during a joint press briefing. Muizzu also expressed his desire to conclude a <keyword id="19945642" type="General" weightage="20" keywordseo="Free-Trade-Agreement" source="keywords">Free Trade Agreement</keyword> with India, a step he believes will open the door to greater Indian investment in the Maldives. Modi emphasised India's commitment to supporting the Maldives through various initiatives, including supplying essential commodities and Covid vaccines, inaugurating airports, and constructing social housing. He noted that a new drinking water project is now operational on 28 islands, providing clean water to over 30,000 residents. The leaders also discussed the opening of consulates in Addu and Bengaluru. Tensions between India and the Maldives escalated following Muizzu's election last year, which saw a shift towards a pro-China stance and the promise to withdraw Indian troops stationed in the archipelago. His visit to China before India in January had raised eyebrows in New Delhi, as it was perceived as a slight. However, since attending Modi's swearing-in ceremony for a third term in June, Muizzu has moderated his anti-Indian rhetoric, signalling a thaw in relations. External Affairs Minister S Jaishankar has stated that the discussions provided "a new impetus" to the relationship. This meeting likely marks a positive turn in Indo-Maldivian relations, setting the stage for further cooperation between the two South Asian neighbours. (With inputs from agencies) <div type="Article" hostid="261" msid="112094153" title="Maldives President Muizzu thanks India for economic support, affirms hope of signing FTA" mstype="2" mssubtype="0"></div>

Maldives President Muizzu met with PM Modi in Delhi today. Here’s how it went!

<keyword id="19895063" type="General" weightage="20" keywordseo="India" source="keywords">India</keyword> and Maldives have signed an agreement to introduce the <keyword id="19998949" type="General" weightage="20" keywordseo="Unified-Payments-Interface" source="keywords">Unified Payments Interface</keyword> in the archipelago nation, which will have a "very positive" impact on its <keyword id="20260982" type="General" weightage="20" keywordseo="tourism-sector" source="keywords">tourism sector</keyword>, External Affairs Minister S Jaishankar has said. The Memorandum of Understanding was signed on Friday during Jaishankar's three-day official visit to the Maldives. "Witnessed signing of MoU between (the) National Payments Corporation of India and (the) Ministry of Economic Development and Trade of Maldives on (the) introduction of (a) digital payment system in the Maldives," he said in a post on X. Developed by the National Payments Corporation of India (<keyword id="19998946" type="General" weightage="20" keywordseo="NPCI" source="keywords">NPCI</keyword>), Unified Payment Interface (UPI) is an instant real-time payment system to facilitate inter-bank transactions through mobile phones. Addressing a press conference with his Maldivian counterpart Moosa Zameer after their "productive discussions", Jaishankar said that India, through its UPI, has "revolutionised digital transactions". Stressing that it has taken financial inclusion in India to new levels, he said "Today 40 per cent of the world's real-time digital payments take place in our country." "We see this revolution, every day in our lives. I am pleased to note that with the signing of the MoU today, we have taken the first step towards bringing this digital innovation to Maldives," he said. "I wish the very best to stakeholders on both sides and hope that we will soon see the first UPI transaction here. I should mention that it will have a very positive impact on tourism," he added. Tourism is the main source of economic activity for the Maldives, contributing nearly 30 per cent of the GDP and generating more than 60 per cent of foreign exchange. Jaishankar's visit aims to reset the bilateral relationship with the Maldives and is the first high-level trip from India after the archipelago nation's pro-China president, Mohamed Muizzu, assumed office last year. "India's partnership with the Maldives is based on our deep desire to work together for each other's welfare and interests. It is a partnership that has enabled us to always swiftly and effectively respond to challenges, as witnessed in the past," Jaishankar said. "It is a partnership that has enabled us to deliver results and bring tangible benefits to our people in accordance with their wishes, aspirations and priorities," he said. In a post on X, Jaishankar also said, "Jointly inaugurated six High Impact Projects in areas of street lighting, mental health, children speech therapy and special education." "Welcome renewal of MoU between National Centre for Good Governance and Civil Services Commission on (the) training of additional 1,000 civil services officers," he added. Addressing the joint press conference, Maldivian Foreign Minister Zameer said, "India has always been one of our closest friends and a vital development partner." He said the "enduring friendship" was built on a foundation of mutual trust and respect and has continued to flourish over the years. "High-level exchanges between our countries have deepened our dialogue and cooperation in areas of shared interest. We remain dedicated to strengthening and advancing this mutually beneficial partnership," he said. "Minister Dr Jaishankar and I agreed that much more needs to be done to promote trade and investment between the Maldives and India," he said, adding that both sides are committed to establishing "effective mechanisms to enhance economic cooperation, fostering a vibrant and prosperous partnership that will benefit both the nations." Zameer said he conveyed President Muizzu's proposal to begin negotiations on a Free Trade Agreement between the Maldives and India. "This agreement alongside other economic and trade-related agreements will facilitate trade liberalisation and ease the risks of doing business in both our countries," he said. Zameer said that India and Maldives have also mutually agreed to further strengthen their partnership by continuing joint exercises and expanding training opportunities for officers from both countries, asserting that this reflects "our commitment to working together to ensure the security of our nations as well as ensuring the safety and stability of the Indian Ocean region." India's relations with the Maldives suffered a major setback last year when President Muizzu demanded the withdrawal of Indian military personnel manning three aviation platforms in the Maldives. Subsequently, the Indian military personnel were replaced by civilians by May 10, the mutually agreed date. "On regional and multilateral issues of importance, our countries have a common understanding and are united in our efforts to resolve them. We agreed to continue our cooperation on issues ranging from combating terrorism, violent extremism, drugs, human trafficking and to the promotion and protection of human rights," Zameer said. In his press statement, Jaishankar said that India and the Maldives "are not just close neighbours, we are also natural partners." "Today, we are mutually invested in each other's development and progress. In a globalised and interconnected world, we see a lot of volatility and global tensions. Even as the world is recovering from the impact of the COVID pandemic, we have been confronted with new challenges arising from international conflicts," he said. In this tumultuous environment, India has been and will be, an anchor of stability for its friends, partners and neighbours. To the Maldives specifically, India has provided support to deal with economic challenges through financial assistance and budgetary support, and by ensuring an uninterrupted supply of critical items, he noted. India's actions have been and will continue to be guided by its firm commitment to the philosophy of 'Sabka Saath, Sabke Vikas - which is- Together, we prosper', Jaishankar said. 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India to introduce UPI payment service in Maldives

Phoning home becomes becomes increasingly difficult as we venture further into <keyword id="41531" type="General" weightage="20" keywordseo="space" source="Orion">space</keyword>. Even India's Chandrayaan-3 lunar mission, despite its relatively close proximity to <keyword id="6359982" type="General" weightage="100" keywordseo="earth" source="Orion">Earth</keyword>, relied on computer simulations instead of a live feed of its landing. Much of this is due to our reliance on <keyword id="12905" type="General" weightage="20" keywordseo="radio" source="Orion">radio</keyword> waves for space communication poses a significant challenge. While radio waves are somewhat reliable, it is difficult for them to carry as much data as other types of emissions. <keyword id="6360409" type="General" weightage="50" keywordseo="nasa" source="Orion">NASA</keyword>'s <keyword id="19594526" type="General" weightage="50" keywordseo="deep-space-optical-communications" source="Orion">Deep Space Optical Communications</keyword> (DSOC) experiment has made a major breakthrough in this area. Travelling on NASA's <keyword id="176204" type="General" weightage="80" keywordseo="psyche" source="Orion">Psyche</keyword> spacecraft, the experiment successfully transmitted data via a near-infrared <keyword id="6534807" type="General" weightage="20" keywordseo="laser" source="Orion">laser</keyword> to Earth from a distance of 16 million kilometres — 40 times the distance between Earth and the <keyword id="42440" type="General" weightage="50" keywordseo="moon" source="Orion">Moon</keyword>. This achievement marks the first time such capabilities have been demonstrated with near-infrared emissions. Laser beams offer a distinct advantage over radio waves: they can transmit vastly more data at significantly higher speeds. In fact, the DSOC technology aims to achieve transmission rates 10 to 100 times greater than current top radio communication systems. This breakthrough will enable us to transmit immense amounts of information about the cosmos and facilitate the development of next-generation space satellites capable of capturing higher-resolution data. Faster communication speeds would also allow for live video streams from the surface of <keyword id="47638" type="General" weightage="50" keywordseo="mars" source="Orion">Mars</keyword>, providing real-time glimpses of the Red Planet's landscapes. Despite these advancements, there are still challenges to overcome. Precisely aligning laser beams becomes increasingly difficult over long distances, requiring effective calibration between space and ground satellites. Additionally, signal weakening as the laser beam travels introduces delays in communication. During the November 14 test, it took approximately 50 seconds for the data-carrying photons to travel from Psyche to Earth. When Psyche reaches its farthest point, this delay will extend to around 20 minutes. To compensate for these shifts, real-time adjustments must be made to both the ground-based and spacecraft-based lasers to ensure uninterrupted communication. This was the first test to fully incorporate the ground assets and flight transceiver, requiring the DSOC and Psyche operations teams to work in tandem, explains Meera Srinivasan, operations lead for DSOC at <keyword id="136455" type="General" weightage="50" keywordseo="jpl" source="Orion">JPL</keyword>. "It was a formidable challenge, and we have a lot more work to do, but for a short time, we were able to transmit, receive, and decode some data." The DSOC experiment is a significant step forward in space communication, paving the way for faster, more reliable data transmission from deep space.

Earth receives first transmission via laser beam from 16 million kilometres away!

<ul class="summary-list"><li>A 43 year-old hedge fund exec was revealed as one of the world's leading deep-sea treasure hunters.</li><li> For years he's been funding missions and investing in high-tech tools to discover shipwrecks.</li></ul>A hedge fund executive has been unmasked as one of the world's leading deep-sea shipwreck hunters after a Bloomberg Businessweek <a target="_blank" href="https://www.bloomberg.com/features/2023-deep-sea-treasure-hunter-hedge-funds/?srnd=premium">investigation</a> uncovered his decades-long hunt for sunken treasure worth billions.Anthony Clake, a 43-year-old executive at Marshall Wace in London, has not been going to the bottom of the ocean himself, however. He's been investing in and directing high-tech operations to find lost treasures on the ocean floor.Marshall Wace is one of the world's biggest hedge funds, managing assets worth about $62 billion.According to Bloomberg, Clake has quietly spearheaded treasure hunts using advanced <a target="_blank" href="https://www.businessinsider.com/stanfords-humanoid-robot-found-treasure-in-ocean-2016-4#oceanone-was-created-by-a-stanford-team-led-by-oussama-khatib-a-professor-of-computer-science-1">underwater technology</a> including million-dollar marine robots that can descend to depths of 6,000 meters, and a sonar system that creates 3D maps of the seabed.The technology has allowed wealthy individuals like Clake to fund exploration of the seabeds.Clake's successes include the SS Coloradan, an American steamer sunk by a German U-boat off the coast of South Africa. Found by his contractors in 2016, the wreck contained drums of gold precipitate.Another ship found at at depth of 4,500 meters off the coast of west Africa contained 50 tons of silver coins. The discovery was kept secret, the coins melted down and sold, and everyone involved had to sign an NDA, Bloomberg reported.It isn't clear how much money Clake has made from the salvaged treasure. But often the most lucrative wrecks draw competing claims, legal battles, and seizures.In 2015, the San José, a Spanish galleon sunk off the Colombian coast, was discovered by a Clake-affiliated company. It contained bounty thought to be worth billions of dollars.However, competing claims from another US treasure-hunting entity, as well as the Colombian government and a Bolivian indigenous group, have halted plans to recover items from the San José.At times, in a move known as "wet storage," Clake's crews would sometimes leave their finds at a different location underwater to avoid such governmental interference, according to the report.It's unclear how much Clake has made from his treasure hunting."I don't do it for a living," Clake told Bloomberg in a brief interview. "I find it interesting to use technology to solve problems under the sea."Treasure hunting is not illegal, but under international law anyone who discovers a shipwreck must report their findings to authorities, per <a target="_blank" href="https://www.lawinfo.com/resources/admiralty-maritime/are-finders-keepers-under-the-sea-what-you-ne.html">Law Info</a>.Under the US Abandoned Shipwrecked Act of 1987, all shipwrecks within US waters belong to the state.Clake did not respond to a request for comment from Business Insider.

A hedge fund exec is funding hunts for treasures in shipwrecks at the bottom of the ocean

Almost 4 lakh diarrhoeal disease deaths can be averted if '<keyword id="7834202" type="General" weightage="100" keywordseo="jal-jeevan-mission" source="Orion">Jal Jeevan Mission</keyword>' meets its target of providing clean water to all rural households, according to a new study by the <keyword id="6356311" type="General" weightage="50" keywordseo="world-health-organisation" source="Orion">World Health Organisation</keyword>. The government launched the Jal Jeevan Mission (JJM) in 2019, a nationwide programme that aims to provide all houses in rural areas with safe and adequate drinking water through individual tap connections by next year. The <keyword id="43588" type="General" weightage="50" keywordseo="world-health-organization" source="Orion">World Health Organization</keyword> (WHO) was requested by the Ministry of Drinking Water and Sanitation to conduct a study to assess potential health gains and associated cost savings due to increased access in safely-managed drinking water services in <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>. The study found that, on an estimate, if the Jal Jeevan Mission provided safely-managed drinking water to all of India, this would result in averting almost 4 lakh deaths caused by diarrhoeal disease. According to official figures, till now 62 per cent rural households have been provided with tap water connection. "With universal coverage of safely-managed drinking water in India, almost 14 million DALYS (Disability adjusted life years) from the diarrhoeal disease are estimated to be averted, resulting in estimated cost savings of up to USD 101 billion," the study said. Also, the study said that providing a tap connection to every household would result in significant time saved on water collection (66.6 million hours each day), especially among women. Presenting the research findings, Richard Johnston, co-lead of WHO/UNICEF Joint Monitoring Programme for Water Supply, Sanitation and Hygiene, said if the world achieves its Sustainable Development Goals (SDG) targets of drinking water and sanitation, it will be because of India. "There are two reasons for it -- population and size -- as India is the country with the largest population in the world so what happens in India is important for the world but it is also because India is demonstrating what can be done and what is possible when it makes commitments and investments," he said. Dr Rajiv Bahl, Director General of the <keyword id="6364555" type="General" weightage="50" keywordseo="indian-council-of-medical-research" source="Orion">Indian Council of Medical Research</keyword>, said these findings are plausible. "We must understand that these are gross underestimates of the total benefits of providing safe water not only because these benefits go beyond health and they affect many communicable and non-communicable diseases. And even malnutrition, which is a big issue for us as they are all also related to water, so we must consider these just modest assumptions and tip of the iceberg," Bahl said. WHO estimation of health impacts is based on comparative risk assessment (CRA) methods, which are used extensively in the burden of disease assessments (Ezzati 2002, Pruss-Ustun 2019). The analysis estimated potential health gains from the Mission by comparing two scenarios. The JJM scenario assumed that coverage of safely managed drinking water services in India increases linearly from baseline levels to 100 per cent coverage at the end of the programme, whereas, the business-as-usual scenario assumed improvements in coverage rates are in line with historical annual rates of 0.5 percentage points change per year. For the economic analysis, the value per DALY averted from the JJM initiative was based on an approach described in the 2001 report of the WHO's Commission on Macroeconomics and Health which assigned each life year a value of three times the GDP per capita. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/sustainability/news/the-worlds-oceans-last-month-were-warmer-than-any-other-may-since-the-beginning-of-the-19th-century/articleshow/100875382.cms">The world's oceans last month were warmer than any other May since the beginning of the 19th century</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/auto/news/bmw-m2-launched-in-india-here-are-some-of-the-top-sports-cars-available-in-the-country/slidelist/100874746.cms">BMW M2 comes to India: Here’s how it compares with top sports cars available here</a>

Almost 4 lakh diarrhoeal disease deaths can be averted if Jal Jeevan Mission meets target: WHO study

<ul><li>The Indian Space Research Organisation (<keyword id="6358064" type="UNKNOWN" weightage="20" keywordseo="isro">ISRO</keyword>) completed its design for India’s first manned submersible to boost deep sea exploration. </li><li>Currently, only five other countries around the world have the capability to dive 6,000 meters under the sea with humans onboard. </li><li>The design is yet to be certified but India expects the submersible vehicle to be ready by 2022. </li></ul>The Indian Space Research Organisation (<a href="https://www.businessinsider.in/isro-wants-moon-stories-after-chandrayaan-2-launch/articleshow/70548181.cms">ISRO</a>) is already exploring the <a href="https://www.businessinsider.in/science/space/news/isro-shares-first-discovery-from-chandrayaan-2-orbiter/articleshow/71435228.cms">depths of space</a> and now it wants to dive down into the oceans. The agency is developing a design for a crew module that can take humans upto 6,000 meters under the sea. The project is a part of India’s ₹6,500 crore Deep Ocean Mission. By 2022, India plans to join the elite list of nations that have their own underwater manned submersibles. Right now, only China, the US, Russia, France and Japan have the technology to conduct <a href="https://www.businessinsider.in/12-photos-show-how-humans-explored-earths-oceans-from-the-1600s-to-now/articleshow/63835487.cms">manned deep-sea exploration</a>. 
 
 <div type="image" title="manned submerible design" msid="71887525" hostid="261"></div>





Credits:NIOT Most submersibles that go 6,000 meters deep are ROVs or <a href="https://www.businessinsider.in/A-48-million-submarine-will-dive-to-the-deepest-point-in-the-ocean-where-only-3-people-have-been-before/articleshow/66416829.cms">remote operated vehicles</a>. They can be controlled using a cable that attaches to the main ship on the surface but they don’t have any humans on board. India’s submersible vehicle, on the other hand, will be able to carry three people — two scientists and one operator. "The design for the manned submersible's sphere has been successfully developed by ISRO. Now it has to be certified and then we will go ahead with the fabrication," said Madhavan Nair, from the Ministry of Earth Sciences during a press conference at the National Institute of Ocean Technology (<a href="https://www.niot.res.in/niot1/dst_intro.php">NIOT</a>). How India’s deep sea submersible works The submersible is going to be a titanium sphere with a diameter of 3.2 meters. The craft will be lowered from the main ship and can remain underwater for eight to ten hours. Once underwater, the onboard pilot or operator can steer the vehicle underwater. The base of the sphere will be a glass pane so that crew members can view the seafloor. Using a robotic arm, the crew will be able to collect samples. According to NIOT, the goal of the mission is to study <a href="https://www.businessinsider.in/scientists-caught-the-deepest-fish-in-the-ocean-on-camera-over-5-miles-below-the-surface---take-a-look/articleshow/62640514.cms">rare marine life</a>, <a href="https://www.businessinsider.in/these-amazing-images-from-the-bottom-of-the-sea-reveal-a-mysterious-world-scientists-are-just-starting-to-explore/amp_articleshow/50569221.cms">explore the ocean bed</a> for mineral resources, recover lost objects and repair underwater equipment. Building the manned submersible Designing the titanium crew module is a challenge. While the material is ideal to withstand high water pressure, it’s also difficult to mold. The design will take another month to get certified by an agency in Germany. After which, it will take another year to physically put it together. While ISRO is in-charge of the crew module, other agencies in India are going to be pitching in as well. NIOT, for instance, will be developing electronics and navigation for the manned submersible. The National Center for Polar and Ocean Research in Goa, Center for Marine Living Resources and Ecology in Kochi and the Indian National Centre for Ocean Information Services in Hyderabad are also working on the project. (With agency inputs) See also: <a href="https://www.businessinsider.in/isro-nasa-just-spotted-a-black-hole-spinning-so-fast-that-it-could-be-making-space-itself-rotate/articleshow/66416605.cms">ISRO, NASA just spotted a black hole spinning so fast that it could be making space itself rotate</a> <a href="https://www.businessinsider.in/science/news/deep-sea-explorers-discovered-creatures-at-the-bottom-of-the-ocean-feasting-on-decaying-whales/articleshow/71713400.cms">Deep-sea explorers discovered creatures at the bottom of the ocean feasting on decaying whales</a> <a href="https://www.businessinsider.in/miscellaneous/an-explorer-took-a-48-million-submarine-on-3-record-breaking-dives-to-the-deepest-corners-of-the-ocean-and-discovered-a-mysterious-new-species/slidelist/68930814.cms">An Explorer Took A $48 Million Submarine On 3 Record-Breaking Dives To The Deepest Corners Of The Ocean - And Discovered A Mysterious New Species</a>

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