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French President Emmanuel Macron, PM Modi hold talks; 14 agreements worth over Rs 1 lakh crore signed

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French President Emmanuel Macron, PM Modi hold talks; 14 agreements worth over Rs 1 lakh crore signed

India and France on Saturday inked 14 key agreements in the strategic areas of security, nuclear energy, and protection of classified information, as companies from the two countries signed contracts worth Rs 1,04,000 crore, said media reports.

The agreements, which include sectors like education, environment, urban development and railways, were signed after extensive bilateral talks between Prime Minister Narendra Modi and French President Emmanuel Macron in New Delhi on Saturday.

Addressing a joint press conference after the talks with President Macron, PM Modi said the two countries have robust cooperation in the fields of defence and security.

“Our strategic partnership may be just 20 years old, but our cultural and spiritual partnership is much older. The values of liberty, equality and fraternity echo not just in France but have been embedded in India’s Constitution as well,” said PM Modi.

For his part, Macron said India and France have decided to work together to deal with threats of terrorism and radicalisation.

Defence cooperation between the two countries now has a new significance, he said. “We want India as our first strategic partner here, and we want to be India’s first strategic partner in Europe, and even the western world,” the French president said.

Both the leaders also talked about cooperation in the Indo-Pacific region.

The deals signed by companies from the two countries include a contract for France’s Safran to supply airline SpiceJet with engines, water system modernisation by Suez in the southern city of Davangere and a contract between industrial gas company Air Liquide and Sterlite, the French presidency said in a statement, according to media reports.

Macron’s office did not provide a breakdown of the contracts’ values or details about the deals. It said some €200 million (over Rs.160 crore) of investments will be made in India.

A so-called “Industrial Way Forward Agreement” was signed between French utility EDF and India’s NPCIL for the construction of six nuclear reactors at Jaitapur. Negotiations over the construction of next-generation nuclear reactors in India have been dragging on for years.

It was not immediately clear whether these were firm contracts or letters of intent.

The bilateral trade between India and France from April 2016 to March 2017 reached 10.95 billion dollars. France is the ninth largest foreign investor in India with a cumulative investment of over six billion dollars from April 2000 to October 2017.

Macron, who arrived in India on Friday night on a four-day visit was received at the airport on Friday night by PM Modi, in a special gesture. He was given a ceremonial welcome this morning. This is Macron’s first visit to India after he assumed office in May in 2017.

“Another chapter in the glorious book of our friendship! PM Narendra Modi welcomes President of France Emmanuel Macron at the Hyderabad House in New Delhi ahead of the bilateral talks,” MEA spokesperson Raveesh Kumar tweeted along with pictures of the two leaders.

The visiting leader also met President Ram Nath Kovind and Minister of External Affairs (MEA) Sushma Swaraj.

Speaking to media after being accorded a ceremonial reception at the Rashtrapati Bhavan, Macron said he has three purposes for this visit.

He said the first one is to open a new era in the India-France Strategic Partnership “in terms of defence and security, in terms of research and science, especially in terms of our youth, higher education and science”.

“It is absolutely critical because our two democracies have common challenges regarding terrorism, a lot of common risks, a lot of threats,” Macron said.

“The second purpose of this trip is to organise this International Solar Alliance (conference),” he said.

“The third objective of this visit is to deliver the message that France should be the best partner for India, especially in Europe, the entry point for Europe. And I aim to have more and more Indian citizens coming to France studying, becoming a partner, creating start-ups and I want my country to be your best partner in Europe.”

On Sunday, Modi and Macron will co-chair the founding conference of the India-initiated International Solar Alliance (ISA), which was launched by Modi and then French President Francois Hollande during the Paris Climate Summit in 2015.

The ISA is conceived as a coalition of solar resource-rich countries to address their special energy needs and provide a platform to collaborate on dealing with the identified gaps through a common, agreed approach. It is open to all 121 prospective member countries falling between the tropics of Cancer and Capricorn. Sunday’s conference will be attended by 23 of those who have submitted the instruments of ratification and 24 of those who have signed the framework agreement.

On his India tour, Macron will also visit Agra and Varanasi and have a town hall interaction with students in New Delhi. During his visit to Varanasi on Monday, he will inaugurate a 75 MW solar plant built by French firm Engie Solar in Mirzapur in Uttar Pradesh.

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Byju’s founder Byju Raveendran sentenced to six months in jail by Singapore court over asset orders

In a major setback, a Singapore court has sentenced Byju’s founder Byju Raveendran to six months in prison for contempt after he failed to comply with multiple court orders regarding his assets.

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In a massive legal blow to the founder of the failed Indian educational technology firm Think & Learn Pvt (better known as Byju’s), a Singapore court has sentenced Byju Raveendran to six months in jail for contempt of court.

The court ordered the jail term after concluding that Raveendran had deliberately disobeyed multiple judicial directives regarding his personal assets, dating as far back as April 2024.

Disobedience of asset orders leads to prison sentence

According to people familiar with the matter, the Singapore court has instructed Raveendran to immediately surrender himself to the officials. Alongside the six-month prison sentence, the Byju’s founder has been ordered to pay legal costs amounting to S$90,000 (approximately $70,500). Furthermore, he has been mandated to provide documents verifying his official legal ownership of Beeaar Investco Pte, a corporate entity that holds equity shares in a related firm.

At the time of reporting, it remains unclear whether Raveendran is currently residing in Singapore or located elsewhere, and he did not immediately respond to requests for comment.

Escalating global legal battles

This sentencing marks the latest and perhaps most severe setback for the entrepreneur, who once achieved billionaire status amid a massive wave of global capital flowing into Indian start-ups. Today, Raveendran is being rigorously pursued by foreign investors across international jurisdictions. This includes intensifying legal battles in the United States, where global lenders are actively trying to recover heavy financial losses stemming from a defaulted $1.2 billion loan.

Media reports indicate that the ongoing Singapore court proceedings represent a broadening web of legal and financial crises following the operational collapse of the once-celebrated edtech giant.

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US hits Iranian missile sites and mine-laying boats near Strait of Hormuz amid peace talks

US Central Command executed targeted strikes against Iranian missile launch sites and mine-laying vessels near Bandar Abbas, testing a fragile ceasefire even as high-stakes diplomatic talks continue in the region.

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In a major development testing a fragile regional ceasefire, the United States military carried out targeted strikes in southern Iran on Monday. The operation hit missile launch sites and vessels allegedly attempting to lay mines near the crucial Strait of Hormuz, according to statements from the US Central Command (CENTCOM).

The military action took place near Bandar Abbas, a prominent southern port city hosting a primary Iranian naval base. Media reporting indicated that explosions were heard across multiple coastal locations, including Sirik and Jask.

Focus on ‘Self-Defense’ Amid Active Ceasefire

A spokesperson for CENTCOM, Capt. Tim Hawkins, confirmed that the engagement was defensive in nature. “US forces conducted self-defense strikes in southern Iran today to protect our troops from threats posed by Iranian forces,” Hawkins stated. He noted that the operational targets included active missile launch sites alongside Iranian boats attempting to emplace naval mines. Despite the escalation, CENTCOM emphasized that it continues to exercise restraint under the parameters of the ongoing ceasefire brokered in early April.

According to media reports, the tactical response was triggered when two Islamic Revolution Guard Corps (IRGC) boats were detected laying mines in the strategic shipping lane. Additionally, a surface-to-air missile site reportedly targeted American warplanes, prompting US forces to neutralize both the vessels and the missile installations. Media channels citing local updates indicated that four individuals were killed in the strikes, though the complete casualty figures remain unverified.

Diplomatic Dialogue Continues in Parallel

The strikes coincide with a critical phase of diplomatic negotiations aimed at extending the current truce. Top Iranian negotiators traveled to Qatar early this week to discuss a potential 60-day extension of the ceasefire, alongside provisions to keep the Strait of Hormuz fully operational for global trade.

US officials maintain that the military action does not signal an end to the active truce. A senior administration source clarified that the specific operations are “over for now”. US Secretary of State Marco Rubio, speaking from India, affirmed that diplomatic channels remain open and active. Rubio stated that intensive language discussions regarding the initial documents are ongoing, reiterating that the opening of the strategic strait remains a core objective.

Meanwhile, political leaders in Washington have separately reiterated demands for the secured disposal or international transfer of enriched uranium stockpiles as part of any comprehensive long-term agreement.

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US announces new America First visa schedule to boost business ties with India

During his official state visit to New Delhi, US Secretary of State Marco Rubio announced a new America First visa schedule designed to prioritise business professionals and boost bilateral trade efficiency.

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In a significant development aimed at strengthening bilateral cooperation, the United States has introduced a new “America First” visa schedule. The policy update was announced by US Secretary of State Marco Rubio during his official four-day visit to India. The new schedule is specifically designed to prioritise business professionals who play a key role in fortifying trade and strategic connections between the two nations.

Speaking about the initiative in the national capital, the top US diplomat clarified that the updated framework will not only assist visa applicants but will also significantly enhance operational productivity for the diplomatic mission. “We’re introducing a new America First visa schedule that prioritises business professionals that strengthen these ties,” Rubio stated. He added that the arrangement will enable the system to process applications with greater accuracy, speed, and efficiency.

Focus on Indo-Pacific and regional security

The announcement coincided with high-level discussions between the visiting diplomat and Prime Minister Narendra Modi. The meeting, which lasted for over an hour, covered critical areas of bilateral interest, including trade, energy security, strategic technologies, defence cooperation, and the ongoing West Asia crisis. During the interaction, Rubio extended an official invitation from US President Donald Trump for PM Modi to visit the White House in the near future.

The US Secretary of State described the partnership between New Delhi and Washington as a foundational cornerstone of America’s overarching strategy for the Indo-Pacific region. Highlighting India’s central role, Rubio noted that his very first official engagement upon taking office was a meeting of the Quadrilateral Security Dialogue (Quad), emphasizing that hosting the upcoming foreign ministers’ meeting in India acts as a tangible sign of the deep commitment to this framework.

Clarification on immigration rules

Addressing separate concerns regarding recent shifts in American immigration policies, the top diplomat provided a crucial clarification regarding the new guidelines for permanent residency. Media reports had previously highlighted anxieties surrounding a newly instituted rule that requires many legal immigrants to exit the US and apply for green cards from their home countries.

Rubio explicitly stated to the media that these measures are universal regulatory updates rather than policy shifts targeted at any specific nation. He reassured that the rule is applicable globally to all international applicants and is not directed exclusively at Indian citizens.

The visit marks Rubio’s first official trip to India since assuming office. His comprehensive itinerary began in Kolkata and includes a scheduled bilateral dialogue with External Affairs Minister S Jaishankar, alongside participation in the Quad Foreign Ministers’ meeting alongside international counterparts.

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