NEW DELHI: India’s economy grew at its fastest pace in one-and-half years in the final three months of 2023, led by strong manufacturing and construction activity and bolstering Prime Minister Narendra Modi’s economic record just months before a national election.
Asia’s third largest economy grew 8.4 percent in the October-December quarter, much faster than the 6.6 percent estimated by economists polled by Reuters and higher than the 7.6 percent recorded in the previous three months.
“The ongoing growth momentum is indicative of the Indian economy’s resilience, notwithstanding global headwinds,” said Sunil Kumar Sinha, economist at India Ratings, noting that industrial growth continued its good run in the quarter.
India has consistently beat market expectations and is ranked as one of the fastest-growing economies in the world, with China struggling to recover after the pandemic and the euro zone narrowly escaping a recession.
India revised its growth estimate for the current fiscal year to March 31 to 7.6 percent from 7.3 percent.
Such a strong showing in the last major economic data release before elections due by May could bolster Modi’s chances after he made high economic growth one of his main platforms at rallies across the country.
The December growth “shows the strength of Indian economy and its potential,” Modi said in a social media post.
Modi has sharply raised government spending on infrastructure and offered incentives to boost manufacturing of phones, electronics, drones and semiconductors to help India compete with likes of Vietnam and Thailand.
The manufacturing sector, which for the past decade has accounted for 17 percent of Asia’s third-largest economy, expanded 11.6 percent year-on-year in the December quarter, while investment growth was above 10 percent for the second consecutive quarter, and the construction sector grew by more than 9 percent.
“Manufacturing sector growth was supported by lower input costs,” said Rajani Sinha, Economist at CareEdge
Private consumption, accounting for 60 percent of gross domestic product (GDP), recovered slightly in the quarter, with a 3.5 percent year-on-year rise, compared with 2.4 percent in the previous three months.
Government spending contracted 3.2 percent year-on-year, compared with 1.4 percent growth in the previous quarter.
RURAL WEAKNESS
The farm sector, which accounts for about 15 percent of the $3.7 trillion economy, continued to struggle due to unfavorable monsoon rains. It contracted 0.8 percent in the December quarter, compared with 1.6 percent growth in the September quarter.
Slowing rural growth dragged down farm incomes and some farmers have hit the streets
demanding higher procurement prices.
Rural weakness has led to slower growth for major retail companies like Hindustan Unilever and Britannia Industries.
The pace of growth in real rural wages was around 1 percent in 2023 after contracting nearly 3 percent in the previous two years, according to ICRA, while average salaries in urban areas have been going up by nearly 10 percent a year.
However, policymakers remain optimistic about rural recovery.
“With the anticipated better value addition in the farm sector next financial year, rural demand growth and rural income growth will be even better and more evident in FY25,” country’s Chief Economic Adviser V Anantha Nageswaran said.
India’s economy grows at its fastest pace in six quarters in election boost for Modi
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India’s economy grows at its fastest pace in six quarters in election boost for Modi

- India’s economy grew 8.4% in the October-December quarter, much faster than 6.6% estimate
- India has beaten market expectations, is ranked as one of fastest-growing economies in the world
Philippine divorce activists vow to fight on

- The Philippines is one of just two countries – along with Vatican City – where divorce remains illegal
- Ending a marriage in the deeply Catholic society of 117 million is possible only via annulment or ‘nullification’
MANILA: In her bid to convince lawmakers to legalize divorce, Filipino fruit vendor Avelina Anuran has publicly testified about the abuse she said she regularly endured at the hands of her husband.
She also keeps a copy of the medical certificate from the bloody injuries she says he inflicted, hoping it might one day serve as evidence in court.
But the mother of two-turned-activist has gotten no closer to ending her marriage.
The Philippines is one of just two countries — along with Vatican City — where divorce remains illegal.
Last week, the latest attempt to introduce a divorce law evaporated as the upper house ended its session without even a hearing.
“They kept passing it around,” Anuran said.
The last time such legislation made its way to the Senate in 2019, she painstakingly detailed her experience for a public hearing. But the bill foundered.
Spouses have a “right to be free,” she said, adding that she would keep pushing for a law.
“Hopefully it will (pass) next year, with new senators coming in.”
Ending a marriage in the deeply Catholic society of 117 million is possible only via annulment or “nullification.”
But few Filipinos can afford the fee of up to $10,000, and the process does not consider domestic violence, abandonment or infidelity as qualifying grounds.
“I just want to be free from this marriage,” said Anuran, whose estranged husband remains the beneficiary on a life insurance policy she cannot change without his consent.
Campaigners like Anuran believe the tide of public support for divorce is turning, with surveys showing about half of Filipinos now firmly back a change.
Before taking office in 2022, President Ferdinand Marcos said he was open to supporting divorce.
But the latest effort to introduce such a bill still faced strong opposition in the Senate.
The proposed law would have compelled courts to provide free legal and psychological assistance to low-income petitioners, capped lawyers’ fees at 50,000 pesos ($859) and mandated divorce petitions be resolved within a year.
The divorce bill’s co-author, lawmaker Arlene Brosas, said it was “unacceptable” that the Senate had refused to tackle the measure given the “strong public demand.”
She said her Gabriela Women’s Party will refile it when a newly elected Congress convenes in July.
“We will continue fighting for the divorce bill, no matter the composition of the Senate and House of Representatives in the next term,” Brosas said.
The previous bill was likely influenced by the mid-term elections in May, family lawyer Lorna Kapunan said.
“Because (half of senators) are seeking re-election, they are afraid of the backlash of the Catholic Church,” Kapunan said.
Senate President Francis Escudero had argued the bill would “create divisiveness,” suggesting instead that the grounds for nullification could be expanded while avoiding the word “divorce.”
Father Jerome Secillano of the Catholic Bishops’ Conference of the Philippines, meanwhile said divorce contravenes the Church’s teachings on marriage and would ultimately destroy families.
“We will see more couples separating. We will see children who don’t know where to go,” Secillano said.
He also argued the number of domestic abuse victims would “double” as divorced men would “have another chance to be violent again” to new spouses.
Kapunan called the existing laws “very complicated, very expensive, very anti-woman and anti-child.”
Despite the opposition and failed previous attempts to legalize divorce, Anuran remains determined.
“No one’s backing down. Win or lose, the fight will continue.”
Suspected Somali pirates seize boat off Horn of Africa

- Increased international naval patrols, a strengthening central government in Mogadishu, Somalia’s capital, and other efforts saw the piracy beaten back
DUBAI, United Arab Emirates: Suspected Somali pirates have seized a Yemeni fishing boat off the Horn of Africa, authorities said late Monday.
A European naval operation in the Mideast, known as EUNAVFOR Atalanta, said the incident remained under investigation.
It said the attack targeted a dhow, a traditional ship that plies the waters of the Mideast, off the town of Eyl in Somalia.
The maritime security firm Ambrey said the attack saw the suspects steal three small boats equipped with 60-horsepower engines. Ambrey said early Tuesday “a suspected pirate action group has been sighted departing” off the coast of Eyl.
Once-rampant piracy off the Somali coast diminished after a peak in 2011. That year, there were 237 reported attacks in waters off Somalia. Somali piracy in the region at the time cost the world’s economy some $7 billion — with $160 million paid out in ransoms, according to the Oceans Beyond Piracy monitoring group.
Increased international naval patrols, a strengthening central government in Mogadishu, Somalia’s capital, and other efforts saw the piracy beaten back.
However, Somali pirate attacks have resumed at a greater pace over the last year, in part due to the insecurity caused by Yemen’s Houthi rebels launching their attacks in the Red Sea corridor over the Israel-Hamas war in the Gaza Strip.
In 2024, there were seven reported incidents off Somalia, according to the International Maritime Bureau.
Elon Musk-led group proposes buying OpenAI for $97.4bn. OpenAI CEO says ‘no thank you’

- Musk had invested about $45 million in the startup from its founding until 2018
A group of investors led by Elon Musk is offering about $97.4 billion to buy OpenAI, escalating a legal dispute with the artificial intelligence company that Musk helped found.
Musk and his own AI startup, xAI, and a consortium of investment firms want to take control of the ChatGPT maker and revert it to its original charitable mission as a nonprofit research lab, according to Musk’s attorney Marc Toberoff.
OpenAI CEO Sam Altman quickly rejected the deal on Musk’s social platform X, saying, “no thank you but we will buy Twitter for $9.74 billion if you want.”
Musk bought Twitter, now called X, for $44 billion in 2022.
Musk and Altman, who together helped start OpenAI in 2015 and later competed over who should lead it, have been in a long-running feud over the startup’s direction since Musk resigned from its board in 2018.
Musk, an early OpenAI investor and board member, sued the company last year, first in a California state court and later in federal court, alleging it had betrayed its founding aims as a nonprofit research lab benefiting the public good. Musk had invested about $45 million in the startup from its founding until 2018, Toberoff has said.
Musk and OpenAI lawyers faced off in a California federal court last week as a judge weighed Musk’s request for a court order that would block the ChatGPT maker from converting itself to a for-profit company.
US District Judge Yvonne Gonzalez Rogers hasn’t yet ruled on Musk’s request but in the courtroom said it was a “stretch” for Musk to claim he will be irreparably harmed if she doesn’t intervene to stop OpenAI from moving forward with its planned for-profit transition.
But the judge also raised concerns about OpenAI and its relationship with business partner Microsoft and said she wouldn’t stop the case from moving to trial as soon as next year so a jury can decide.
“It is plausible that what Mr. Musk is saying is true. We’ll find out. He’ll sit on the stand,” she said.
Along with Musk and xAI, others backing the bid announced Monday include Baron Capital Group, Valor Management, Atreides Management, Vy Fund, Emanuel Capital Management and Eight Partners VC.
Toberoff said in a statement that if Altman and OpenAI’s current board “are intent on becoming a fully for-profit corporation, it is vital that the charity be fairly compensated for what its leadership is taking away from it: control over the most transformative technology of our time.”
Musk’s attorney also shared a letter he sent in early January to the attorneys general of California and Delaware.
“As both your offices must ensure any such transactional process relating to OpenAI’s charitable assets provides at least fair market value to protect the public’s beneficial interest, we assume you will provide a process for competitive bidding to actually determine that fair market value,” Toberoff wrote, asking for more information on the terms and timing of that bidding process.
Two flights carrying US deportees heading to Venezuela, alleged gang members aboard

- Some of the people on the flights are allegedly involved in illegal activities with the Tren de Aragua gang
- Trump envoy Richard Grenell met with Nicolas Maduro in Caracas on Jan. 31, and left with six Americans who had been held by Venezuelan authorities
Two planes carrying Venezuelan migrants deported from the United States — the first since a January deal between the administration of US Donald Trump and Venezuelan President Nicolas Maduro — are heading to Venezuela, the South American country’s government said on Monday.
The flights, run by Venezuelan airline Conviasa, are part of a plan to repatriate thousands of migrants who fled Venezuela “because of economic sanctions and the campaigns of psychological warfare against our country,” the government statement said.
Some of the people on the flights are allegedly involved in illegal activities with the Tren de Aragua gang, the statement said, and will be vigorously investigated for criminal ties.
Trump envoy Richard Grenell met with Maduro in Caracas on Jan. 31, where the two men discussed migration and sanctions, among other issues. Grenell left the South American country with six Americans who had been held by Venezuelan authorities.
The Trump administration has said it is a priority to deport members of Tren de Aragua from the US and Trump himself said after Grenell’s visit that Maduro agreed to receive all Venezuelan illegal migrants and provide for their transportation back home.
The Venezuelan government says it destroyed Tren de Aragua within its borders in 2023.
Trump’s administration has also moved to remove deportation protection from about 348,000 Venezuelans in the US, who could lose work permits and then be deported in April.
More than 7 million Venezuelan migrants have left their country in recent years amid a sustained economic and social collapse blamed by the government on sanctions by the United States and others.
Maduro and several allies have been indicted by the United States on drug trafficking charges and international observers and the country’s opposition say a July election which gave Maduro his third term was fraudulent.
USAID is stripped of its lease and staffers turned away from DC headquarters

- USAID’s eviction from its headquarters marks the latest in the swift dismantling of the aid agency and its programs by President Donald Trump and his billionaire ally, Elon Musk
WASHINGTON: Officials and federal officers turned away scores of US Agency for International Development staffers who showed up for work Monday at its Washington headquarters, after a court temporarily blocked a Trump administration order that would have pulled all but a fraction of workers off the job worldwide.
The Trump administration confirmed to The Associated Press that it had taken USAID off the lease of the building, which it had occupied for decades.
USAID’s eviction from its headquarters marks the latest in the swift dismantling of the aid agency and its programs by President Donald Trump and his billionaire ally, Elon Musk. Both have targeted agency spending that they call wasteful and accuse its work around the world of being out of line with Trump’s agenda.
A steady stream of agency staffers — dressed in business clothes or USAID sweatshirts or T-shirts — were told by a front desk officer Monday that he had a list of no more than 10 names of people allowed to enter the building. Tarps covered USAID’s interior signs.
A man who earlier identified himself as a USAID official took a harsher tone, telling staffers “just go” and “why are you here?”
USAID staff were denied entry to their offices to retrieve belongings and were told the lease had been turned over to the General Services Administration, which manages federal government buildings.
A GSA spokesperson confirmed that USAID had been removed from the lease and the building would be repurposed for other government uses.
Even as Trump and Musk, who runs what is billed as a cost-cutting Department of Government Efficiency, have taken aim at other government agencies, USAID has been hit hardest so far.
The president signed an executive order freezing foreign assistance, forcing US-funded aid and development programs worldwide to shut down and lay off staff. Secretary of State Marco Rubio had sought to mitigate the damage by issuing a waiver to exempt emergency food aid and “life-saving” programs.
Despite the waiver, neither funding nor staffing has resumed to get even the most essential programs rolling again, USAID officials and aid groups say.
The Norwegian Refugee Council, one of the largest humanitarian groups, called the US cutoff the most devastating in its 79-year history and said Monday that it will have to suspend programs serving hundreds of thousands of people in 20 countries.
“The impact of this will be felt severely by the most vulnerable, from deeply neglected Burkina Faso, where we are the only organization supplying clean water to the 300,000 trapped in the blockaded city of Djibo, to war-torn Sudan, where we support nearly 500 bakeries in Darfur providing daily subsidized bread to hundreds of thousands of hunger-stricken people,” the group said in a statement.
In an interview aired Sunday with Fox News host Bret Baier ahead of the Super Bowl, Trump suggested that he might allow a handful of aid and development programs to resume under Rubio’s oversight.
“Let him take care of the few good ones,” Trump said. Aid organizations say the damage that has been done to programs would make it impossible to restart many operations without additional substantial investment.
A federal judge on Friday temporarily blocked a Trump administration order that would have put thousands of USAID staffers on administrative leave that day and given those abroad 30 days to get back to the United States at government expense.
The temporary restraining order came in a lawsuit by two groups representing federal workers, and another hearing is scheduled for Wednesday.
While the judge ordered the administration to restore agency email access for staffers, the order said nothing about reopening USAID headquarters. Some staffers and contractors reported having their agency email restored by Monday, while others said they did not.
Some staffers said they came to the USAID offices because they were confused by conflicting agency emails and notices over the weekend about whether they should go in. Others expected they would be turned away but went anyway.
A USAID email sent Sunday night, saying it was “From the office of the administrator,” told employees that what it called “the former USAID headquarters” and other USAID offices in the Washington area were closed until further notice. It told workers to telework unless they are instructed otherwise.