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CHINESE COMPANIES TO BEAR THE BRUNT.

One such firm whose business is likely to be impacted in India is China Railway Signal and Communication corporation. The company excels in railway signaling and was awarded a contract in 2016 to install signals in more than 400 kilometre of railway lines.

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Boycott Chinese products

One such firm whose business is likely to be impacted in India is China Railway Signal and Communication corporation. The company excels in railway signaling and was awarded a contract in 2016 to install signals in more than 400 kilometre of railway lines.

In anothe development, the Telecom Ministry on Wednesday ordered BSNL, MTNL and other private companies to ban all Chinese deals and equipment. They have been asked to avoid Chinese equipment in upgradation. The decision by the Telecom ministry could play a major role in the 4G upgradation purchases by its subsidiaries.

The government service providers have been asked to change conditions in such a way that Chinese companies aren’t able to participate in the tender process. The companies have been asked to cancel all previous tenders for telecom equipment. Directives will also be issued for private mobile service providers to rule out use of any existing Chinese equipment, and ban any new purchase.

Meanwhile, the  Confederation of All India Traders has released a list of more than 500 ‘Made in China’ products to be boycotted after border tensions between India and China escalated on June 16.

Products on the list include toys, fabrics, textiles, apparel, everyday items, kitchen items, furniture, hardware, footwear, handbags, luggage, electronics, cosmetics and gift items, electronics, watches, gems and jewellery, stationery, paper, household items, health products, auto parts, etc.

Initially, the body has set a target to meet a shortfall of Rupees 1 lakh crore approximately in imports from China by December 2021. Presently, annual imports from China amount to Rs 5.25 lakh crore. The first phase has focused on products that can be made in India, but price has been the deciding factor when importing.

The body is also likely to raise the matter with Commerce and Industry Ministry for government support and assistance to small scale industries, entrepreneurs and startups so that domestic manufacturing picks up.

India-China bilateral trade is heavily tilted in favour of China. According to trade figures released by the General Administration of Customs of China (GACC) in mid-January 2020, India’s trade deficit with China was $56.77 billion in 2019; bilateral trade amounted to about $92.68 billion last year, a 1.6% annual increase.

Swadeshi Jagran Manch, an offshoot of the RSS, has also launched a campaign against China, its national co-convenor said.

India News

Delhi High Court denies interim relief to Telegram in challenge against NEET-related ban

Telegram did not receive interim relief from the Delhi High Court in its challenge to the Centre’s temporary restriction imposed before the NEET-UG 2026 re-examination.

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Delhi High Court issues notice to the Centre but does not stay the temporary restriction imposed ahead of the NEET-UG 2026 re-examination.

Messaging platform Telegram has not received interim relief from the Delhi High Court in its challenge to the Centre’s temporary restriction on the app ahead of the NEET-UG 2026 re-examination.

The court issued notice to the Union government and agreed to hear the matter, but did not pass any immediate order suspending the restriction. The temporary curbs were imposed until June 22 as part of measures aimed at preventing exam-related fraud and the circulation of fake paper leak claims before the June 21 re-test.

Telegram has argued that the restriction affects millions of users and is disproportionate to the alleged misuse by a small number of individuals. The company has also questioned the legality and procedure followed while imposing the restriction.

During the proceedings, the Centre defended its decision, maintaining that the measure was necessary to protect the integrity of the high-stakes medical entrance examination. Government representatives argued that Telegram had been used to spread leaked exam material, misinformation and fraudulent claims linked to the examination process.

The court sought the Centre’s response and scheduled further consideration of the matter. Until a final decision is reached, the temporary restriction remains in effect.

The dispute comes amid heightened scrutiny of examination security following the cancellation of the original NEET-UG 2026 exam and the decision to conduct a re-examination for affected candidates.

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India News

IT stocks drag markets lower as Accenture outlook sparks selloff

A sharp selloff in IT stocks after Accenture’s weak outlook weighed on Indian markets, pushing Sensex and Nifty lower while major technology shares recorded significant losses.

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Indian equity benchmarks came under pressure on Friday as a sharp decline in information technology stocks erased a portion of the gains made during the recent market rally. Weak guidance from global technology services giant Accenture triggered concerns about demand trends in the IT sector, leading to broad-based selling across major Indian technology companies.

The benchmark Sensex and Nifty opened lower, while the Nifty IT index emerged as the worst-performing sectoral gauge of the day. Shares of major IT firms, including TCS, Infosys, Wipro and HCLTech, witnessed steep declines as investors reacted to concerns over slowing technology spending and limited visibility on future demand.

Accenture guidance rattles investor confidence

Market sentiment weakened after Accenture reported quarterly results and revised its revenue outlook, citing softer demand conditions. The development raised concerns about the broader global technology services industry, particularly for Indian IT companies that derive a significant portion of their revenue from overseas clients.

Analysts noted that Accenture’s cautious commentary added to existing worries about discretionary technology spending and delayed client decision-making. The company’s outlook is often viewed as an indicator of global demand trends for IT services.

Nifty IT sees sharp decline

The Nifty IT index dropped more than 5%, with all constituent stocks trading in negative territory. TCS, Infosys, Wipro and HCLTech were among the major laggards, falling between roughly 3% and 8% during trading.

The weakness in technology shares also weighed on broader market sentiment, ending the momentum seen in recent sessions. Investors turned cautious amid concerns about global growth, technology spending trends and earnings visibility for export-focused IT companies.

Broader market under pressure

Apart from the IT selloff, analysts pointed to profit-booking after the recent rally, weaker global cues and risk aversion among investors as additional factors behind the market decline. Mid-cap and small-cap indices also traded lower, reflecting broader weakness across sectors.

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PM Modi extends birthday wishes to Rahul Gandhi, prays for his good health

PM Narendra Modi extended birthday greetings to Rahul Gandhi on his 56th birthday, wishing the Congress leader good health and a long life.

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Prime Minister Narendra Modi on Friday extended birthday greetings to Congress leader and Leader of the Opposition in the Lok Sabha, Rahul Gandhi, on the occasion of his 56th birthday.

In a post on X, PM Modi conveyed his wishes for Rahul Gandhi’s well-being and longevity. He described the Congress MP as the Leader of the Opposition in the Lok Sabha and prayed for his good health and a long life.

Rahul Gandhi, one of the senior-most leaders of the Congress party, celebrated his 56th birthday on June 19. He currently serves as the Leader of the Opposition in the Lok Sabha.

The Prime Minister’s message was noted as a gesture of courtesy between leaders from rival political parties, who frequently engage in sharp political debates on national issues.

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