dharmapuri l Saturday l February 15, 2025 l `9.00 l PAGES 14 l city EDITION `45 lakh crore wiped out from equity markets so far this year indices in the red eight times in a row On Friday, the BSE Sensex and NSE Nifty closed in the red for the eighth consecutive session, with the Sensex dropping 199.76 points to 75,939.21 and the Nifty falling 102.15 points to 22,929.25. The decline has been much steeper in the midcap and smallcap segments, mostly owing to FII sell-off, as they shifted focus to other emerging markets The decline, driven by weak quarterly earnings, high valuations, and FII outflows, saw `24 lakh crore loss in the past week alone 1.5% market cap dips below $4 trillion mark ■ Market capitalisation of BSE firms, which was `479 lakh crore on September 27, 2024, fell to `401 lakh crore by February 14 ■ Bloomberg data (which excludes ETFs and ADRs) shows India’s market cap dipped below the $4 trillion for the first time in over 14 months. President Trump’s tariff policies, too, is a factor in the dip by which Rupee depreciated against the U.S. dollar year-to-date CHENNAI ■ MADURAI ■ VIJAYAWADA ■ BENGALURU ■ KOCHI ■ HYDERABAD ■ VISAKHAPATNAM ■ COIMBATORE ■ KOZHIKODE ■ THIRUVANANTHAPURAM ■ BELAGAVI ■ BHUBANESWAR ■ SHIVAMOgGA ■ MANGALURU ■ TIRUPATI ■ TIRUCHY ■ TIRUNELVELI ■ SAMBALPUR ■ HUBBALLI ■ DHARMAPURI ■ KOTTAYAM ■ KANNUR ■ VILLUPURAM ■ KOLLAM ■ TADEPALLIGUDEM ■ NAGAPATTINAM ■ THRISSUR ■ KALABURAGI all for msp Farmers meet Central team, agree to talk on Feb 22 Def, trade deals to ease tariff sting 10-year defence framework, $500-billion mega trade deal in the works; India to get F-35 fighter jets H a r p r e e t B a j w a @ Chandigarh A meeting between a Central team led by Union Minister Pralhad Joshi and farmers’ representatives to discuss their demands, including a legal guarantee for MSP on crops, was held here cordially on Friday followed by a consensus on the next round of talks slated for February 22. Union Agriculture Minister Shivraj Singh Chouhan is likely to take par t in the next meeting The over two-and-a-half-hour meeting with the 28-member delegation from the Samyukta Kisan Morcha (Non-Political) and the Kisan Mazdoor Morcha was held after a year-long protest by farmers. The two outfits have been spearheading the ongoing farmers’ protest at Shambhu and Khanauri on the Punjab-Haryana border for the past one year. Following the meeting at the Mahatma Gandhi State Institute of Public Administration here, Joshi said the talks were held in a cordial atmosphere. “Details about the steps taken by the Narendra Modi government for farmers’ welfare were shared with their leaders in today’s meeting,” he added. Farmer leader Jagjit Singh Dallewal, who is on an indefinite fast, said that the meeting w a s h e l d i n a p o s i t ive atmosphere. He was brought to the meeting venue from Khanauri protest site in an ambulance. Dallewal, the Samyukta Kisan Morcha convenor, has been on an indefinite hunger strike at the Khanauri border point since November 26 to press the Centre for a legal guarantee for MSP on crops, among other demands. Farmer leader Abhimanyu Kohar said that the central team urged Dallewal to end his fast. We believe that collaboration and cooperation between India and US can shape a better world Modi is a much tougher negotiator than me, and he is a much better negotiator than me - Donald Trump - Narendra Modi Prime Minister Narendra Modi with US President Donald Trump during a meeting at the White House, in Washington, DC, on Friday | pti JAYANT H JAC O B @ New Delhi INDIA and the US on Friday decided to bolster their ties through a mega trade deal that will see bilateral trade hit an unprecedented $500 billion in five years and a new defence framework that will rekindle cooperation across space, air defence, missile, maritime, and undersea technologies. Notably, India will get the coveted F-35 fighter jets from the US, which is keen to expand defence sales and co-production with India. New Delhi will also consider importing oil and gas from the US to narrow the trade deficit to a large extent. Speaking to the media at a joint press meet after talks with US President Donald Trump, Prime Minister Narendra Modi said India and the US can have a MEGA partnership for prosperity by aligning Trump’s MAGA (Make America Great Again) with his own MIGA trump tariffs face firm response from eu The European Union said Trump’s plans were a step in the wrong direction that heightened economic uncertainty and disrupted the efficiency of global markets; the EU will react firmly and immediately with reciprocal duties | P11 (Make India Great Again). Reflecting the tone and substance of their nearly four-hour meeting, which included formal talks, dinner, and a press conference, the joint statement issued after the meeting mentioned “cooperation” 18 times, “collaboration” 11 times, and “trade” 16 times. “Starting this year, we’ll be increasing military sales to India by many billions of dollars,” Trump told a joint news conference with Modi. “We’re also paving the way to ultimately provide India with the F-35 stealth fighters,” he said. “The leaders pledged to accelerate defence technology cooperation across space, air defense, missile, maritime and undersea technologies, with the US announcing a review of its policy on releasing fifth generation fighters and undersea systems to India,” the joint statement said. cheated by fake cbse school, 19 class 10 kids denied hall tickets express news service @ Thanjavur Nineteen Class 10 students of a private CBSE school in Thanjavur district, who had spent an entire year preparing for the board exam, had the shock of their lives on Friday when they did not get hall tickets for the board exam scheduled to start on Saturday . The Prime Public School at Adirampattinam had faked its affiliation with the CBSE and the students have not been issued hall tickets by the central board, sources said. The school has at least 500 students on its rolls from LKG to Class 10, sources said. “Show cause notice will be issued to the school and action will be taken against the management,” said Thanjavur Collector B Priyanka Pankajam. Shakila Banu, one of the parents, said the school enrolled students claiming that it was affiliated with CBSE. “Only on Thursday night we came to know that it was not affiliated and our children were not given hall tickets,” she said. The collector said the affected students were given the option to write the Class 10 exam under State Board syllabus under special provision, but their parents had rejected that offer. She said the decision was made after discussions with School Education Minister Anbil Mahesh Poyyamozhi and department secretary . P5 In the wake of Trump announcing reciprocal tariffs, a major part of the discussion was around trade issues and taking measures to have a road map for a bilateral trade agreement. “Today, we have set a target of more than doubling bilateral trade to $500 billion by 2030. Our teams will work on an early conclusion of a mutually beneficial Trade Agreement. We will strengthen the oil and gas trade to ensure India’s energy security . Investment in energy infrastructure will also increase,” Modi said. President Trump acknowledged India’s decision to reduce tariffs on certain imports and expressed his intention to begin discussions on trade disparities, aiming to reach an agreement. He also suggested that the trade deficit with India could be addressed through the sale of oil and gas. India rejects Don’s offer on China row JAYANT H JAC O B @ New Delhi INDIA on Friday rejected Donald Trump’s offer to mediate in the ongoing tensions between India and China, after the US president expressed his willingness to help stop what he called the “vicious skirmishes” along the India-China border. Speaking to reporters, Foreign Secretary Vikram Misri said India always addresses issues with neighbouring countries through bilateral discussions and this approach remains unchanged in the case of China. “We have always adopted a bilateral approach to dealing with these issues. It’s no different between India and China. We have been discussing any issues that we have with them on a bilateral plane, and we will continue to do so,” Misri said. The foreign secretary’s comment was in response to a question during a media briefing about Trump’s proposal that he could mediate between India and China over territorial disputes and skirmishes. Earlier, at the joint presser with Modi, Trump had said: “I look at India, I do see the skirmishes on the border, which are quite vicious, and I guess they continue to go on. If I could be of help, I’d love to help, because that should be stopped.” Trump said he enjoyed a “very good relationship” with China in his first term and that he got along with Chinese President Xi Jinping very well. express read SC: Abatement doesn’t mean acquittal of Jaya in DA case New Delhi: The Supreme Court on Friday dismissed a plea filed by the legal heir of former CM J Jayalalithaa seeking the return of the properties confiscated in the disproportionate assets case against her and said abatement of proceedings did not mean she was acquitted of the crime. The bench said the abatement would not imply that the judgment by the Karnataka HC in 2017 against the former CM has attained finality | P5 Kovai, Madurai master plans will be unveiled in March: CM Chennai: Chief Minister M K Stalin on Friday announced that the master plans for Coimbatore and Madurai will be unveiled next month. The state is also formulating 10 regional development plans to boost growth in both urban and rural areas, he said. After inaugurating the 17th edition of FAIRPRO 2025, he said the upcoming master plan for Chennai will be a roadmap for the development of the city over the next two decades | P4 Don’t allow protests on Thiruparankundram issue: HC E x p r e s s N e w s S e r v i c e @ Chennai THE Madras High Court on Friday directed the Tamil Nadu government not to permit any protest that would disrupt public peace and communal harmony. The court also wanted the state to take action to ease communal tension and restore peace in Thiruparankundram, which recently witnessed protests by Hindu religious organisations over the practice of animal sacrifice at the Dargah in Sikkandar Hills. Stating that permitting such protests would lead to “breach of peace”, Justice G K Ilanthiraiyan dismissed a petition filed by S Yuvaraj of Bharat Hindu Munnani seeking permission to take out a procession by holding ‘vel’ (spear) and chanting devotional songs in the commercial area from Ekambareswarar temple to Muthukumarasamy temple near Flower Bazaar. The judge said, “The incident that happened in Thiruparankundram hill has already been sorted out among all the religions by passing a resolution (at a meeting chaired by) the Revenue Divisional Officer. The resolution was also endorsed by Madurai collector. Thus, there is no need to conduct any procession to condemn the incident.” Further, he stated, “It will once again provoke people from other religions and will breach peace. The respondents shall not permit any form of protest that disrupts public peace and harmony. They have to take necessary measures to ease religious tensions and restore order and harmony .” Justice Ilanthiraiyan noted that so far, Hindus, Muslims and Jains have lived together in the hills peacefully Unity in diversity is the . strength of our nation and the government has to maintain harmony among all communities and religions, he said. The petitioner and other devotees, however, are always permitted to worship the deity at Sri Muthukumarasamy temple and no one can restrain them from doing so, he said. State Public Prosecutor Hasan Mohamed Jinnah, appearing for the police, had made a strong case to reject the plea citing the court orders settling the ownership issues over the hills and the endorsement made by the Privy Council of the Colonial rulers. He had also said that permitting such protests would affect public order in the state’s capital. 2nd US planeload of deportees lands in Amritsar today H a r p r e e t B a j w a @ Chandigarh A US aircraft carrying 119 illegal immigrants is likely to land at the Amritsar airport on Saturday, the second such batch of Indians deported by the Donald Trump dispensation as par t of its crackdown ag ainst ille g al immigration. According to official sources, the aircraft is expected to land at the Guru Ram Dass International airport in Amritsar around 10 pm on Saturday. Among the 119 Indian immigrants, 67 hail from Punjab, 33 from Haryana, eight from Gujarat, three from Uttar Pradesh, two each from Goa, Maharashtra and Rajasthan and one each from Himachal Pradesh and Jammu and Kashmir, officials said. Another US plane carrying deportees is also expected to land on February 16. The development came days after a US aircraft carrying 104 deportees landed at the Amritsar airport last week. Of them, 33 each were from Haryana and Gujarat and 30 from Punjab. Punjab Chief Minister Bhagwant Singh Mann launched a tirade against the Centre’s decision to land the aircrafts at Amritsar, calling it a conspiracy to defame Punjab. “Illegal immigration is not only Punjab’s problem, but is a national issue,” Mann said.
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