Prime Minister Narendra Modi has urged global corporations to invest in India, underlining that the country is emerging as the leading hub for diversification and risk reduction. Speaking at the 14th India-France CEO Forum in Paris, Modi emphasized India’s growth trajectory and commitment to becoming a developed country by 2047.

He emphasized the latest budget’s economic measures, emphasizing their potential to increase investment and make conducting business easier.

“I tell you, this is the right time to come to India – the perfect time,” he said, urging French and international investors to participate in India’s economic growth. Speaking at the 14th India-France CEO Forum in Paris, Modi emphasized India’s growth trajectory and commitment to becoming a developed country by 2047.

He also highlighted India’s infrastructure expansion, noting that the country plans to open 120 new airports. “You can estimate future possibilities,” he added, encouraging investors to look into prospects in a variety of areas.

“Today, India is the world’s fifth-largest economy and the fastest-growing major economy.” Soon, we will be the world’s third-largest economy, and I invite you all to join India’s development path,” PM Modi stated.

Prime Minister Modi acknowledged the increasing strategic alliance between India and France. He lauded the two countries’ collaborative spirit, saying, “This is a meeting of the brightest business minds from India and France. I welcome the Summit report, which was just presented. I notice that you are all following the slogan of innovation, collaboration, and integration. You are not only making connections; you are also developing the India-France strategic alliance.”

As India strives to become a developed nation by 2047, Modi’s message was clear: now is the perfect moment for businesses to establish and expand their presence in the country. Speaking at the 14th India-France CEO Forum in Paris, PM encouraging investors to drive their business in India.

He reassured investors that the Indian government is dedicated to creating a business-friendly climate and driving long-term economic growth.

Prime Minister Narendra Modi, who co-chaired the AI Action Summit in France alongside French President Emmanuel Macron, told that artificial intelligence is writing the 21st century’s “code for humanity.”

Already, artificial intelligence is changing our culture, economy, politics, and security. This century, AI is scripting the code for humanity. However, compared to earlier technological turning points in human history, it is significantly different. Artificial Intelligence is evolving at a never-before-seen pace, and it is being modified and implemented even more quickly. There is also a strong cross-border interdependence.

“AI is evolving at a pace and scale never seen before. There is also a strong border-based interdependence, and it is being deployed and modified even more quickly. Global cooperation is required to create norms and governance that support our joint endeavors, mitigate risks, and foster confidence,” He stated.

The Prime Minister explained AI in simple terms and gave an example of the human touch by saying that an AI app can provide a health recommendation free of medical jargon if a medical report is uploaded to it. However, if the app is asked to draw a picture of someone writing with their left hand, it is likely to draw a picture of someone writing with their right hand.

He also remarked that the world will need to carefully consider artificial intelligence and voiced reservations about its potential vices. He added, “AI is already changing our economy, security, quality, and even our society.”

He emphasized that AI has the potential to improve health, education, agriculture, and a host of other areas, thereby changing the lives of millions of people. It can contribute to the creation of a future where achieving the Sustainable Development Goals (SDGs) is simpler and quicker. We need to pool our resources and talent to do this. We need to create open-source systems that improve transparency and confidence.

He said that AI’s “most feared disruption” is job loss and advocated for investing in people’s skill development and retraining for a future driven by AI. He advocated democratizing technology, developing programs that focus on people, and tackling issues with deepfakes, disinformation, and cybersecurity.

The PM also mentioned AI’s potential to replace human labor. AI’s biggest feared disruption is jobs, yet history demonstrates that technology does not eliminate work. Its character shifts, and new kinds of work are produced. In order to prepare for an AI-driven future, we must invest in retraining and skilling our workforce,” he stated.

He claimed that the human brain uses less energy than most light bulbs to create spaceships and compose poetry. Along with highlighting India’s achievements in the tech sector, PM Modi said that the country had constructed a digital public infrastructure for more than 1.4 billion people at a relatively low cost.

“With our architecture for data empowerment and protection, we have unleashed the power of data and made digital commerce accessible and democratic for everyone,” he continued.

India is currently at the forefront of adopting AI and developing techno-legal solutions for data privacy. We have one of the biggest AI talent pools in the world and are creating AI applications for the general public’s benefit. Taking into account our diversity, India is creating its own extensive language model.

Our companies and researchers may access resources like computer power at a reasonable price thanks to our special public-private cooperation model,” the PM added.

Banks prefer to lend more when the repo rate is lowered, which makes credit more available to businesses. Additionally, it expands the economy’s total money supply. In the end, this accelerates the economy’s growth rate.
For people who have taken out loans, particularly home loans, the Reserve Bank of India (RBI) has announced a 25 basis point reduction in the repo rate.

After October 1, 2019, all retail floating rate loans are based on the repo rate, an external benchmark. In such a scenario, banks are required to compel their clients to gain anytime the central bank lowers the repo rate.

Banks must reset interest rates quarterly in order to carry out this. Refinancing your house loan would be a smart way to benefit from the lower repo rate if it was taken out prior to October 1, 2019, and it is associated with the Marginal Cost of Funds Based Lending Rate (MCLR).

Interest rates on all loans associated with the repo rate decrease whenever it is lowered, resulting in lower interest payments for borrowers. Most banks do not drop your EMI when the RBI lowers the repo rate; instead, they provide you the advantage of a lower interest rate by shortening the loan’s term.

For Example, suppose a borrower has a home loan of Rs 75 lakh with a 20-year interest rate of 9%. After 36 months, the interest rate will drop to 8.75%.

The borrower would now pay interest of Rs 1.57 crore for 17 years rather than Rs 1.62 crore on the loan due to the interest rate reduction. As a result, the loan will be more than seven months sooner and Rs 4.97 lakh would be saved.

Notably, the borrower can save Rs 5.8 lakh (Rs 1.56 crore versus Rs 1.62 crore) in interest expenses and close the loan eight months sooner if the interest rate is lowered after 24 months.

Due to banks’ liquidity shortage, fierce competition for deposits, and the resulting high cost of funds, the RBI’s rate drop last week is anticipated to have a gradual impact on lending and deposit rates over several months.

The interest rate at which the RBI lends money to commercial banks is known as the repo rate. Since May 2020, this is the first repo rate reduction. In its unanimous ruling, the six-member MPC clarified that the repo rate was lowered to lower borrowing costs while promoting investment and consumption.

Since loan EMIs are anticipated to decrease in line with the RBI’s lending rates, the repo rate is anticipated to offer significant relief to borrowers.

Rohit Sharma’s outstanding century made sure that the 305-run mark never appeared too far off, even if India lost its last three wickets for 28 runs. After Rohit and Shubman Gill scored 136 runs for the first wicket, England rallied and once again dismissed Virat Kohli cheaply.

Nevertheless, Rohit and Shreyas Iyer teamed up to put India in a position to win. Axar Patel kept India on track for victory even after Rohit fell. Even though India has struggled in the last two games of this ODI series with a rush of wickets in the closing stages of the contest, this victory was still very comprehensive.

Rohit was in his typical form with the bat during the knock; his fluid strokes, deft wrist placement, and flawless timing gave the fans what they paid for. In the second over, Rohit, chasing 305, got off to a fast start when he got a thick edge off Gus Atkinson that flew over backward point for four. After that, Rohit’s performance took a spectacular turn as he carved Saqib Mahmood for a maximum and flicked Atkinson off his wrists for a six.

Shubman Gill was flawless from the other end, collecting two boundaries with his signature flick and short-arm punch over the in-field. Gill got one to soar over the outside edge for a boundary after Rohit skillfully used his hands to lift Mahmood over long-off for six.

After play was halted for thirty-five minutes due to a floodlight failure above the far-off fence, Rohit returned in a commanding manner, glancing at Mahmood over fine leg for four before hitting a six over long-on. Before breaking through point for another boundary to reach his fifty in just thirty balls, he greeted Adil Rashid with a sweep going for four.

Following the conclusion of the power play, Gill short arm-jabbed and pulled Mark Wood four boundaries after slog-sweeping Rashid for six. Before achieving a fantastic 15th ODI fifty, Gill continued to find extra cover fence twice for boundaries after Rashid returned.

After hitting his century, Rohit didn’t slow down; he reverse-swept, looked at Rashid for fours, and then carved wood over the backward point for another boundary. Rohit toe-ended a slog to short mid-wicket off a full toss from Liam Livingstone and left for 119 off 90 balls after Iyer lashed and pulled thrice to earn two fours and a six off Wood.

Iyer and Axar Patel slowed down a little when Rohit left, with the latter smacking the boundaries. However, Iyer was run out for 44 on the final ball of the 37th over after a mix-up in pursuit of a second run, which caused India to falter a little.

KL Rahul gave Salt a glove edge behind him after attempting to pull a short ball from Overton and falling for 10. After hitting two fours off Atkinson, Hardik Pandya dragged the bowler to mid-wicket. However, Axar and Jadeja made sure India crossed the finish line, with the latter hitting a beautiful inside-out cover drive for four to give the hosts a decisive victory.

Prior to this, England amassed a massive 304 in 49.5 overs, despite losing their final seven wickets for 85 runs, thanks to brilliant scores of 69 and 65 from Joe Root and 65 from Ben Duckett, respectively, and 41 from Liam Livingstone. Jadeja was India’s outstanding batsman, taking 3-35 in his 10 overs while maintaining an economy rate below four.

Duckett chose to bat first and was immediately at his best, giving England a strong start to their innings. Duckett was able to select nine boundaries with ease since he was given short, wide balls in addition to some balls that went down leg.

Axar Patel dropped Salt in the first ten overs, but Salt struggled and was unable to fully benefit from the reprieve. His attempt at a big shot ended up throwing a top-edge to mid-on, giving debutant spinner Varun Chakaravarthy his first ODI wicket.

Duckett went on to reach his fifty off thirty-six deliveries, but he took a big shot and holed out to long-on in a tame manner in an attempt to challenge Jadeja. However, Root put his foot down and used a calculated stroke to be the fulcrum of England’s innings. His use of reverse sweeps and pulls to obtain his boundaries while playing spinners on the back foot and choosing them early was the high point of his knock.

There was a lot of pressure on Root and Jos Buttler to keep England going when Gill had to rush back from mid-off and look up over his shoulder to catch the dangerous Harry Brook’s catch off Harshit Rana’s bowling. Buttler attempted to loft off a slower ball from Pandya shortly after Root reached fifty, but was caught at mid-off.

The major setback for England came in the 43rd over when Root holed out to long-off after failing to hold his aerial shot down against Jadeja, marking the seventh time that Jadeja had dismissed him.

The teams left for Ahmedabad to play their third One-Day International at Narendra Modi Stadium on February 12.

Brief Scores:
England 304 in 49.5 overs (Joe Root 69, Ben Duckett 65; Ravindra Jadeja 3-35)
India 308/6 in 44.3 overs (Rohit Sharma 119, Shubman Gill 60; Jamie Overton 2-27)

Defense Minister Rajnath Singh officially opened the 15th edition of Aero India, regarded as Asia’s largest aerospace and defense show, at the Yelahanka Air Force Station here on Monday.

With an unprecedented level of worldwide engagement, the performance has begun in Bengaluru. Rajnath Singh, the minister of defense, emphasized the event’s importance as a stage for demonstrating India’s expanding aerospace capabilities.

There are more than 900 exhibitors from 90 countries taking part in this enormous defense show. Business days are followed by public viewing days during the February 10–14 event.

This year’s Aero India 2025 theme, “The Runway to a Billion Opportunities,” highlights India’s dedication to promoting expansion in the aerospace and defense industry. The occasion will showcase India’s achievements in domestic defense manufacturing, technical innovation, and global collaboration.

With more than 900 exhibitors registered to attend, including 150 international companies, and an overall space of more than 42,000 square meters, the event is expected to be the largest Aero India to date in the nation.

Aero India 2025 is a strategic platform to advance India’s defense sector, not just an exhibition. The occasion will offer a thorough demonstration of domestic drones, planes, and defense technologies created by significant Indian defense companies, including:

• Hindustan Aeronautics Limited (HAL)
• Defence Research and Development Organisation (DRDO)
• Bharat Electronics Limited (BEL)
• Indian private defence firms and startups

In addition, participants will be enthralled by live air displays of fighter planes, unmanned aerial vehicles (UAVs), and next-generation aircraft, which will showcase India’s expanding aerospace capabilities.

Defence Minister Rajnath Singh earlier praised the event and emphasised its importance, calling the involvement of over 90 countries a sign of the increasing international trust in India’s aerospace and defence capabilities, especially considering that up to 30 countries’ defence ministers or representatives will be attending.

“Aero India is an important platform that will advance the Union government’s goal of an India that is powerful, capable, and independent. The presence of air chiefs and secretaries from 43 countries further highlights the significance of this event – not just for India, but for the entire international Defence community,” stated Rajnath Singh.

“Aero India serves as a stage for showcasing ‘New India’s’ power, tenacity, and independence. It is not only essential for India’s defense readiness, but it also has a significant impact on how our country develops in the future. It will establish international alliances and showcase our defense capabilities. In order to promote greater cooperation and mutual advancement, we aim to strengthen cooperation in areas of shared interest with our friendly countries,” He stated.

According to him, the event would inspire India’s youth and cultivate a scientific temperament and innovative spirit in addition to being a display of technology and invention.

In addition to serving as a center for military and commercial collaboration, Aero India 2025 seeks to motivate India’s young. In order to encourage students and young professionals to have a scientific temperament and an innovative attitude, the exhibition will include interactive sessions, career opportunities, and seminars.

The Ministry of Information and Broadcasting is organizing WAVES 2025 to honor and promote India’s media and creative sector.

The Ministry is also introducing the Create in India Challenge, Season 1, which will include a number of ‘challenges’ designed to promote creativity and innovation as part of the Waves Summit, which will take place from February 5 to 9, 2025. Leaders, stakeholders, and innovators from the industry have come together for the Summit. Previously, the Summit was scheduled to take place in Goa in November in conjunction with the International Film Festival of India (IFFI).

PM Modi spoke with leading experts from India and other countries who are on the WAVES Summit Advisory Board on Friday. In an effort to establish India as a major worldwide center for entertainment, He Modi chaired a lengthy video conference meeting of the WAVES Advisory Board. He participated in a virtual conversation with leading experts and business executives from India and other countries who are on the WAVES Summit Advisory Board.

According to an official statement released by the Prime Minister’s Office on Friday, WAVES is a global event that unites the entertainment, creative, and cultural industries.

In a post on X, he wrote: “Just concluded an extensive meeting of the Advisory Board of WAVES, the global summit that brings together the world of entertainment, creativity and culture. The members of the Advisory Board are eminent individuals from different walks of life, who not only reiterated their support but also shared valuable inputs on how to further enhance our efforts to make India a global entertainment hub.”

In addition to music composer AR Rahman, he had virtual conversations with actors Amitabh Bachchan, Diljit Dosanjh, Rajinikanth, Shah Rukh Khan, Ranbir Kapoor, Chiranjeevi, Anil Kapoor, Akshay Kumar, and Anupam Kher.

The Prime Minister also spoke with corporate executives, including as Microsoft CEO Satya Nadella, Mahindra & Mahindra Chairperson Anand Mahindra, and Reliance Industries Chairman Mukesh Ambani.

Prime Minister Modi declared the World Audio Visual Entertainment (WAVES) Summit’s opening in December 2024, describing it as an important step in establishing India as a global center for content development. He encouraged young creative professionals to attend the summit, which is set for next year.

“We will host the World Audio Visual Entertainment Summit, or WAVES, for the first time in our nation next year. People from the creative world and media and entertainment titans will visit India for the WAVES summit. The goal of this summit is to establish India as a global center for content production. “I am pleased to inform you that young creators are also taking part in this summit,” PM Modi stated during his speech on the 117th “Mann Ki Baat” episode.

As India works to become a five trillion dollar economy, he added, the creator economy is adding fresh vitality. He urged all members of India’s creative and entertainment sector to attend the WAVES meeting.

“Our creator economy is bringing in new vitality as we go toward a $5 trillion economy. Whether you are a young or seasoned artist, connected to Bollywood or regional cinema, a TV industry professional, an animation or gaming expert, or an innovator in entertainment technology, I would encourage the entire Indian entertainment and creative industry to attend the WAVES Summit,” PM Modi stated.

According to a press release from the Ministry of Information and Broadcasting, the first-ever WAVES-International Animation Filmmakers Competition (AFC) has become a ground-breaking event, providing a worldwide platform for artists working in animation, visual effects, AR-VR, and virtual production.

The tournament, which was introduced on September 8, 2024, as a component of the World Audio Visual Entertainment Summit (WAVES), has drawn competitors and business executives, enhancing its standing as a leading forum for innovative technology and imaginative narrative.

For the Animation Filmmakers Competition, the main event of the forthcoming WAVES Summit, the Ministry of Information and Broadcasting has teamed up with Dancing Atoms. With the launch of “Create in India Season 1,” this momentous partnership ushers in a new era for India’s creative sector.

A record 5 crore claims have been settled so far in the fiscal year (FY) 2024–2025, according to a statement released by the Employees’ Provident Fund Organization (EPFO) on Thursday.

This is the most claims that a government agency has ever settled. The Employees’ Provident Fund Organization (EPFO) has crossed the 5-crore claims settlement mark in the fiscal year 2024–2025, according to Labor Minister Mansukh Mandaviya, who made the announcement on Thursday.

The retirement fund authority has processed more than 5.08 million claims totaling Rs 2,05,932.49 crore in the current FY25. The 4.45 lakh claims totaling Rs 1,82,838.28 crore that were resolved in the most recent fiscal year 2023–2024 are far less than this.

Mandaviya emphasized that this outstanding number was made possible by a number of revolutionary reforms that EPFO started. The modifications improved the procedures for settling claims and decreased member complaints.

“We have taken important steps, such as raising the cap and categories of auto-settled claims, making member profile modifications easier, streamlining PF transfers, and raising KYC compliance rates. The effectiveness of EPFO has greatly increased as a result of these adjustments,” the minister said.

The auto-claim settlement mechanism, which guarantees that claims be settled within three days of submission, has been a key facilitator of quicker claim processing. “In FY 2024–2025, 5.08 crore claims were resolved, and Rs 2.05 lakh crore was paid out in total. 4.45 crore claims were resolved and Rs 1.82 lakh crore was paid in the most recent fiscal year“, EPFO said.

The EPFO is settling record claims in the current fiscal year due to the process’s simplicity and adoption of reforms. EPFO has expanded the scope and scope of automatic claim settlement. Three days are allotted for payment under automatic claim settlement. Compared to 89.52 lakh in the previous fiscal year, the number of such claims has doubled to 1.87 crore this year.

In addition, members now have the option to self-correct their profiles thanks to the EPFO. Additionally, the Provident Fund (PF) transfer procedure has been simplified and now requires less employer permission.

Due to the streamlining of the PF transfer procedure, 48% of claims are now submitted straight to the EPFO without the employer’s consent. A mechanism that operates automatically handles 44% of PF transfers. Only 8% of the time is the employer’s consent needed.

The EPFO allows its members to self-correct their profiles; 97.18 percent of connections are accepted by the member voluntarily. Permission from the employer is only needed in 1% of cases. In just 0.4% of situations, the EPFO officials’ approval is necessary.

The EPFO reports that the number of rejected claims has drastically decreased, with only 0.21% of claims currently being denied.