Shillong (Meghalaya) [India], March 24 (ANI): On Tuesday, March 25, India and Bangladesh will face off for the 29th time in international football. The subcontinental rivalry, perhaps the biggest in the region, has been dominated by the Blue Tigers, who have won 14 contests — including the first one at the 1978 Asian Games — lost just four, and 10 have ended in draws, as per the AIFF Media Team.
The last decade or so has seen plenty of dramatic moments whenever the neighbours have clashed – be it Adil Khan’s 88th-minute header that erupted the Vivekananda Yuba Bharati Krirangan in 2019, or Sunil Chhetri’s 95th-minute free-kick in the 2013 SAFF Championship.
The last senior-level meeting in the 2021 SAFF Championship ended in a 1-1 draw, with Sunil Chhetri finding the net. The India captain has netted six of India’s last seven goals against Bangladesh, who are statistically one of his favourite international opponents. He also scored the penalty in the 1-0 win in the 2023 Asian Games, where he was included as one of the over-aged players in the U23 squad.
To search for Bangladesh’s last win over India, you have to go back more than two decades when they won 2-1 in extra time at the 2003 SAFF Championship semi-final in Dhaka. On Indian soil, the Blue Tigers have never lost to the Bengal Tigers.
Defender Sandesh Jhingan kept a clean sheet in a 2-0 win against Bangladesh in the FIFA World Cup Qualifiers in 2021 and also played alongside Chhetri as one of the over-aged players at the 2023 Asian Games.
“Whenever we face Bangladesh, we always know that it’s going to be a game with a lot of passion and high intensity. Of course, they are our neighbours, so you can expect that, not just in football, but in every sport. The last time we faced them was at the Asian Games in China. It was a tough game, and we won 1-0. Before, too, in the World Cup Qualifiers, it was a narrow victory,” Sandesh Jhingan said, as quoted by the AIFF official website.
Bangladesh is ranked 185th in the FIFA Rankings, 59 places below India, which is 126th. But Jhingan stated that Bangladesh cannot be taken lightly despite the on-paper difference.
“I expect them to be at their best, and you cannot take any game easily, especially when you come into the Qualifiers, and the weight of those three points is a lot. Whoever the opponents are, we have to play at our full potential, and we’ll get the job done,” said Jhingan.
While India is aiming to qualify for the Asian Cup for the third successive time, Bangladesh has only qualified once before–in 1980. There’s room for just one this time, as the group winners will make it to the final tournament in Saudi Arabia in two years’ time. Singapore and Hong Kong, who also meet on Tuesday, are the other two teams in Group C.
In the FIFA World Cup Preliminary Joint Qualification Round 2, Bangladesh finished Group I winless and in last place with a solitary point from a draw at home against Lebanon, while suffering heavy defeats against Australia and Palestine. In September 2024, they got a win and a loss against Bhutan in two friendlies. In November, they lost 0-1 and won 2-1 in two friendlies against Maldives, the same opponents India beat 3-0 last Wednesday.
Bangladesh head coach Javier Cabrera, also a Spaniard like Manolo Marquez, has been in-charge of the Bengal Tigers since 2022. The 40-year-old has prior Indian connection, having served as the assistant coach of Sporting Clube de Goa between 2013 and 2015. Captain and midfielder Jamal Bhuyan, who has the highest caps in Bangladesh history at 87, has also been involved in Indian football, playing for Mohammedan Sporting in 2020-21.
The highlight of the Bangladesh squad is 27-year-old midfielder Hamza Choudhury, a former England youth international who recently received his Bangladeshi passport and switched allegiance to the country of his mother’s birth. Other key players in Cabrera’s squad include experienced midfielder Sohel Rana, defender Topu Barman, who is the highest international scorer in the squad with six goals, young midfielders Shekh Morsalin and Mojibur Rahman Jony, and forward Rakib Hossain. Five-time Bangladesh Premier League champions Bashundhara Kings predominate the national squad, with as many as 11 players hailing from the club. (ANI)
March 24 (Reuters) – India’s benchmark indexes kicked off the week on a positive note, driven by banks and energy companies, setting them on course for a sixth consecutive session of gains.
The NSE Nifty 50 BSE Sensex were each up nearly 1% at 23,547.95 and 77,554.59, respectively, as of 10:23 a.m. IST on Monday.
All 13 major sectors were in the green, with small-cap and mid-cap stocks each rising about 1.2%. Investors continued bargain-hunting, and sentiment was further supported by hopes of foreign investors turning net buyers.
On Friday, foreign portfolio investors (FPI) purchased Indian shares worth 74.70 billion rupees ($868.3 million), the biggest single-day inflow in four months.
FPIs have been buyers in the Indian cash market for three of the last four sessions, indicating a potential reversal after a persistent sell-off over the past six months.
The recent FPI buying was accompanied by short-covering, said Devarsh Vakil, head of prime research at HDFC Securities.
Short-covering is a process of buying back the borrowed shares or contracts to close an existing bearish position.
Vakil said 68% of the FPI positioning still remains on the bearish side, which may lead to further short-covering activity in the coming days, which augurs well for the market.
Heavyweight financials rose 1.4%, led by Kotak Mahindra Bank, which jumped 2.6% to hit its highest levels since October 2021.
Other leading private sector lenders were also ranked among the top gainers on the day, supporting the index’s upward momentum.
The energy index rose 1.5%, led by GAIL and Gujarat State Petronet, which rose 5% and 2.5%, respectively, on likely gains from the proposed amendments in gas transmission tariff determination regulations. Shares of Indraprastha Gas rose 3%.
Shares of Larsen & Toubro rose 2% on reports that the infrastructure major may win $4 billion to $4.5 billion expansion project from Qatar Energy.
(Reporting by Vivek Kumar M and Bharath Rajeswaran; Editing by Rashmi Aich, Mrigank Dhaniwala and Sherry Jacob-Phillips)
As debates surrounding the Aurangzeb tomb in Maharashtra’s Chhatrapati Sambhajinagar continues, Union minister Ramdas Athawale on Sunday gave a new suggestion to resolve the matter.
Union minister of state Ramdas Athawale urged authorities to build a big memorial for Chhatrapati Sambhaji Maharaj instead. (HT Photo) {{^userSubscribed}}
Speaking to reporters, the Republican Party of India (Athawale) leader suggested that a memorial for the Maratha warrior Chhatrapati Sambhaji be built in the region instead of removing Mughal emperor Aurangzeb’s grave.
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The union minister is of the view that removing the tomb will not solve anything. “Don’t remove his grave. But there should be a big memorial to Chhatrapati Sambhaji Raje in Sambhajinagar,” he was quoted as saying by news agency PTI.
‘Move forward with Sambhaji’s ideology’
Athawale’s remarks gain significance in the backdrop of Hindu outfits’ repeated demands, seeking the removal of the grave of Aurangzeb from Sambhajinagar. They have alleged that the 17th century Mughal emperor imposed several atrocities on Hindus.
Meanwhile, the union minister also noted that the tomb was under the protection of the Archaeological Survey of India (ASI). “We have to move forward with the ideology of Sambhaji Maharaj but there should be peace in the country,” he added.
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Meanwhile, the union minister also noted that the tomb was under the protection of the Archaeological Survey of India (ASI). “We have to move forward with the ideology of Sambhaji Maharaj but there should be peace in the country,” he added.
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Athawale, the union minister of state who holds the social justice and empowerment portfolio, urged Muslims to not associate themselves with Aurangzeb. “My request to the Muslim community is that you should not associate yourself with Aurangzeb. The Muslims here were Hindus. The Muslims here are not the children of Aurangzeb. They have no relation with him,” he said.
Last week, ASI had covered parts of the Aurangzeb tomb with tin sheets on two sides amid the growing demand for its removal. The district administration made the decision in the backdrop of the violence that broke out in Nagpur.
The topic surrounding the Mughal emperor regained attention after the success of Bollywood film ‘Chhaava’, which depicts the life of Chhatrapati Sambhaji Maharaj, the Maratha king who was executed on Aurangzeb’s orders.
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News/India News/ Union minister suggests alternative to removing Aurangzeb’s tomb: ‘Build a memorial…’
Long before celebrated Urdu poet Mirza Ghalib made Ballimaran his home, the locality in Chandni Chowk was inhabited by families of men who used tall bamboo poles called “balli” to row boats in Nahar-e-Faiz, which was a canal built by Mughal emperor Shahjahan in a bid to bring Yamuna waters into the city of Shahjahanabad. It is believed that since “balli maarne waale (those who use bamboo poles)” lived here, the area, which is now a busy wholesale market, got its name – Ballimaran.
A bridge of boats across the Yamuna, as viewed from Delhi, in 1858. Photo by Felice Beato (Getty Images)
Such is the relationship of the river with the city that even when it has disappeared, turned filthy black, become a victim of political slugfest and unfulfilled electoral promises, it remains an integral part of the city, its people and its lexicon.
Over the past week, this series by HT has traced the tragic transformation of the Yamuna as it flows through Delhi. In just 50km, the river journeys from a pristine Himalayan marvel to a lifeless, toxic canal. Despite grand promises and ambitious plans by successive governments and agencies, the Yamuna remains on life support—a shadow of its former self, choked by neglect and pollution. It is a river in name only, its waters now a grim testament to human apathy.
The concluding part of this series looks at how, for Delhi, the Yamuna has always been more than just a river. It is the city’s lifeblood, woven into its history, geography, culture, and even language. It has witnessed empires rise and fall, nurtured civilizations, and inspired poets and artists for centuries.
Two years ago, on a June morning, the city woke up to the river swelling and reclaiming its old course as it flowed alongside the Red Fort, as it did when Shahjahan built it in mid-17th century. Many of Delhi’s great cities were built next to the Yamuna – in the 14th century, Firozabad was built by Firoz Shah Tughlaq (only Kotla remains), in the 16th century, Mughal ruler Humayun founded Din Panah (only Purana Qila remains), and then in the 17th century Mughal ruler Shajahan built Shahjahanabad.
“The most important reason why cities needed to be built near the Yamuna was because it was a major artery for transportation. In the era before railways, bulky goods were transported via the river. Secondly, it was used for bathing… The river was an important part of the daily routine of the people. People used to fish, there were swimming competitions even though that was quite dangerous due to the presence of crocodiles! The sandy bank of the river was a social place – there were fairs, elephant fights, kite flying competitions. The area where the Red Fort parking is nowadays is where fishermen used to sell their catch,” said historian and author Dr Swapna Liddle. She said that by the 19th century, the river had started to change its course a little.
There’s also Yamuna Bazar, which is the area comprising 32 old ghats of Yamuna abutting the Nigambodh ghat and their surroundings. Here, there are temples, dharamshalas, cow shelters, homes of priests as well as illegal slums. Locals say that the area started developing towards the second half of the 19th century.
Sunil Sharma, a priest and treasurer of the Yamuna Ghat Panda association, said: “Our ancestors were earlier based near Red Fort when the river flowed right next to the fort. Over centuries, the river gradually shifted course and so did we. The original cremation ground used to be situated near Marghat Wale Baba Hanuman temple which also derives its name from the crematorium and this entire area is called Nigambodh shetra (region),” Sharma said.
He added that the ghats, as they exist now, were rebuilt in 1902 and then again in 1932 under British colonial period and other additions have come up. Sharma said that the oldest temple in the area is Neeli Chhatri temple. Myth is that the temple dates back its origin to the Panadavas.
Even the choice of the British to build the Capital on Raisina Hills was in part decided due to the river – but this time, its absence from the area was the main reason. Manu Bhatnagar, principal director of the natural heritage division at the Indian National Trust for Cultural Heritage (Intach) said that when the British began planning Delhi as the Capital, a site was selected north of Shahjahanabad where the Coronation Memorial was held in 1912, but floods struck the same year which discouraged the British and Lutyens Delhi was built on Raisina Hills instead.
In a chapter on the river and city by Bhatnagar in Narratives of the Environment of Delhi: A Ramble in the Archives and Reminiscences, edited by Meenkshi Dhawale, and published by Intach in 2010, he wrote, “The floods submerged the intended site creating in its wake marshes and pools of stagnant water, which bred mosquitoes.”
Liddle said that the British did want a riverside setting while setting up the Capital in Delhi. “They considered doing some sort of engineering which will bring the river back to its old course… They wanted some sort of waterfront, stretching all the way from the old city of Shahjahanabad to New Delhi but it was a very expensive proposition, and they dropped it.”
And then there is Trans-Yamuna (or the colloquial term for it: Jamna paar) which comprises the eastern and northeastern districts of Delhi – a land where auto drivers routinely refuse to ferry passengers to, where the sordid world of OTT series Pataal Lok is set, and whose inhabitants (including the writer herself) are often reminded of being born on the “wrong side of the Yamuna”. Delhi’s many cities have historically been settled on the western side of the river, while east and northeast Delhi are on the eastern banks.
AK Jain, former commissioner (planning) of Delhi Development Authority (DDA), said that in 1962 when the Delhi master plan was notified, the term “Trans-Yamuna” was used officially for the first time. “Before this, the area was known as Shahdara. These were low-lying areas, which gradually began to be populated. In Lahore too, there’s an area named after river Ravi that flows through the city, called Trans-Ravi. Even that is known as Shahdara,” said Jain.
As refugees from western Pakistan poured into Delhi after the 1947 Partition, resettlement colonies sprung up in Trans-Yamuna – Krishna Nagar, Gandhi Nagar and Preet Vihar. The next influx of people took place in 1975, post Emergency, when colonies such as Trilokpuri and Welcome were established, while the apartment complexes for India’s newly minted middle-class started burgeoning in marshy Patparganj in the 1980s.
Bhatnagar said that till as late as 1971, ferries operated on the Yamuna. In a chapter on the river and city in the aforementioned Narratives of the Environment of Delhi, he wrote: “The ferry boats at Wazirabad transported villagers and their merchandise throughout the year… The public ferry at Sungrarpur helped movement of villagers not merely of the neighbouring villages but also of Uttar Pradesh.”
The book mentions how a “dramatic change” is noticed by the Gazetteer of 1976 “…as a waterway the river has ceased to be of any consequence”. Bhatnagar said that sailing, however, remained a favourite pastime of the city. “At the Okhla sailing club, there were 35-40 boats… The club used to host regattas too.” He mentioned that Delhi University colleges such as St Stephens and Hindu had their own boat clubs and how some students would row a boat from Wazirabad to Qudsia Bagh or all the way to Okhla.
At the time, he said, there were at least 65 varieties of fish in the Yamuna and now there are barely four. On being asked about the city’s current relationship with the city, Bhatnagar asked what the city would look like if there was no Yamuna. “The city has been shaped by the river… So much wouldn’t be there if the river wasn’t here. Will there be a Jamna paar, for instance? The Yamuna now is the backyard of the city. Direct dependence on it has gone down, no one travels by boat anymore, and it is out of sight, out of mind because of the design of our bridges – they don’t let you see the river. There are no new memories, just old archives… Ab nadi ki taraf koi dekhta hi nahi hai lekin woh abhi bhi yahi hai (No one looks at the river anymore but it’s still here),” said Bhatnagar.
In Percival Spear’s 1943 book Delhi: Its Monuments and History, which has been updated and annotated by historian Narayani Gupta and author Laura Sykes, the latter mentions an old Hindi proverb that sums up the city’s relationship with the river and its rulers – the three things necessary to build a city are daria, badal, badshah (river, rainclouds, and ruler). And once upon a time, there was no river more suitable than the beloved Yamuna to build a city next to.
PATIALA: Farmer representative in Punjab accused police and the state’s AAP govt of looting their belongings after their protest camps were demolished last week, while key protester Jagjit Singh Dallewal remained in critical condition as his hunger strike entered its 118th day Sunday. “Tractors, trailers, even refrigerators, ACs, inverters, beds, and gas cylinders – everything that was under police supervision has now been found in the homes of AAP legislators’ supporters,” alleged BKU (Ekta Sidhupur) secretary Gurdeep Singh Chahal, demanding compensation for the losses. He also alleged that stolen tractors and trolleys were being openly sold at cheap rates, with police complicit in their misappropriation. Police have recovered six stolen tractors so far – three from Loh Simbly village, and one each from Suhron and Khandoli villages – according to DSP Ghanaur Harmanpreet Singh. Police have registered three cases related to the thefts. Punjab police discreetly moved Dallewal, 70, who heads SKM (Non-Political), to a private hospital in Patiala under tight security Sunday. He stopped drinking water on March 19 evening to escalate his protest against what he calls govt oppression. Dallewal has been on hunger strike since Nov 26 last year demanding legal guarantees for MSP and other farmer rights. Farmer representative have vowed to fight on. “Govt should not think this protest is over,” said Chahal. “The fight for farmers’ rights will go on until the last breath.”
Lucknow: Union Minister of Youth Affairs & Sports, Mansukh Mandaviya, shared a roadmap for hosting the 2036 Olympic Games, emphasising how the Sports Ministry has systematically developed infrastructure while bidding for the event. He also highlighted plans to establish Uttar Pradesh as a major sports hub in the coming years. The Indian Olympic Association (IOA) has submitted an ‘expression of interest’ to the IOC’s Future Host Commission to host the 2036 Games, marking the first concrete step in an ambitious plan following months of informal discussions with the apex body. Speaking to TOI, Mandaviya explained the Sports Ministry’s roadmap for the 2036 Olympics. “Under the Sports Authority of India, we have adopted the PPP model to strengthen sports infrastructure across the country. By upgrading our existing sports facilities, we aim to elevate them to international standards. This strategic approach will ensure India is well-prepared to achieve excellence in both the medals tally and sports infrastructure when we host the Olympics in 2036,” he said. Fit India Sunday on Cycle initiative launched Union Minister Mansukh Mandaviya launched his nationwide campaign, ‘Fit India Sunday on Cycle,’ from Lucknow on Sunday. He urged people to demonstrate their commitment to the nation by adopting cycling as a way to stay fit. “Cycling offers numerous benefits, including improved physical health, reduced pollution, enhanced mental well-being, and conservation of petroleum resources. Show your commitment to the nation by cycling and staying healthy. In Lucknow, students, youth, and the elderly are cycling in large numbers. Prime Minister Modi has expressed concern over the rising issue of obesity, which can be tackled through cycling. Let’s all cycle together and promote the message of health in Uttar Pradesh and across the country,” Mandaviya said. The 3-km cycling rally, which started from Marine Drive and passed through Samta Mulak Chauraha and 1090 Chauraha, saw the participation of more than 500 cyclists. Among those present were UP Sports Minister Girish Chandra Yadav and Principal Secretary (Sports) Manish Chauhan. Lucknow: Union Minister of Youth Affairs & Sports, Mansukh Mandaviya, shared a roadmap for hosting the 2036 Olympic Games, emphasising how the Sports Ministry has systematically developed infrastructure while bidding for the event. He also highlighted plans to establish Uttar Pradesh as a major sports hub in the coming years. The Indian Olympic Association (IOA) has submitted an ‘expression of interest’ to the IOC’s Future Host Commission to host the 2036 Games, marking the first concrete step in an ambitious plan following months of informal discussions with the apex body. Speaking to TOI, Mandaviya explained the Sports Ministry’s roadmap for the 2036 Olympics. “Under the Sports Authority of India, we have adopted the PPP model to strengthen sports infrastructure across the country. By upgrading our existing sports facilities, we aim to elevate them to international standards. This strategic approach will ensure India is well-prepared to achieve excellence in both the medals tally and sports infrastructure when we host the Olympics in 2036,” he said. Fit India Sunday on Cycle initiative launched Union Minister Mansukh Mandaviya launched his nationwide campaign, ‘Fit India Sunday on Cycle,’ from Lucknow on Sunday. He urged people to demonstrate their commitment to the nation by adopting cycling as a way to stay fit. “Cycling offers numerous benefits, including improved physical health, reduced pollution, enhanced mental well-being, and conservation of petroleum resources. Show your commitment to the nation by cycling and staying healthy. In Lucknow, students, youth, and the elderly are cycling in large numbers. Prime Minister Modi has expressed concern over the rising issue of obesity, which can be tackled through cycling. Let’s all cycle together and promote the message of health in Uttar Pradesh and across the country,” Mandaviya said. The 3-km cycling rally, which started from Marine Drive and passed through Samta Mulak Chauraha and 1090 Chauraha, saw the participation of more than 500 cyclists. Among those present were UP Sports Minister Girish Chandra Yadav and Principal Secretary (Sports) Manish Chauhan.
His business is booming in India, but his golf courses have been vandalized in Ireland and Scotland, and he has had business setbacks in Indonesia: two months after his frenetic return to the White House, Donald Trump‘s brand has had mixed success worldwide.
No stranger to blending business and politics, the US president got a taste of the hazards recently when the elegant clubhouse of the Trump Turnberry golf resort in Scotland was splashed in blood-red paint, an immaculate green spray-painted with the words: “GAZA IS NOT 4 SALE.”
A pro-Palestinian group claimed the “act of resistance,” saying it was in answer to Trump’s proposal to take over the Gaza Strip, expel its inhabitants and turn it into the “Riviera of the Middle East.” Another Trump golf course in Ireland was targeted last week, when activists planted Palestinian flags on the greens.
But management at the property in the village of Doonbeg says the golf course is receiving record numbers of membership applications since its owner’s re-election.
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Luxury symbol A world away, on the tropical island of Bali, weeds have overrun the Nirwana golf resort, which the Trump Organization and a local partner signed a deal in 2015 to develop a six-star destination. The resort closed two years later, costing local workers their jobs. The Trump family empire has since then joined up with local partners in a large real estate project near Indonesia’s capital Jakarta. But that venture, a vast luxury development called Lido City, has also run into problems. In February, the Indonesian government halted the billion-dollar project over environmental violations.
Still, a Trump-branded golf course should soon open on the site in collaboration with a local group.
“Trump as a brand in Indonesia is not too famous, different than Trump as a president,” Yoes Kenawas, a political scientist at Indonesia’s Atma Jaya University, told AFP.
India is another story: there, flamboyant Trump towers already scrape the smoggy skies of Mumbai, Delhi, Kolkata and Pune, making the country the most important overseas market for the Trump organization.
Like in the Philippines, Turkey, South Korea and Uruguay, the real-estate tycoon’s family does not invest directly in the properties, which are built and managed by local developers.
Instead, the Trump family collects royalties, sometimes running into the millions of dollars, for licensing its brand — which, to a newly wealthy Indian jet set, is widely seen as a byword for luxury and success.
“I think the brand has become much larger than life, particularly after he’s come back for a second term,” Anuj Puri, chairman of real-estate consultancy Anarock, told AFP.
“He’s more in the newspapers than even any Indian politician.”
Another Trump-branded office and retail project was announced this week in Pune, and there are plans for five new Trump towers around the country in the coming years.
Conflicts of interest? As in his first term, Trump, 78, has officially ceded management of his business interests to his children during his presidency.
But that has not erased concerns over potential conflicts of interest.
“The Trump presidency is transactional, and is turning America into a more neo-patrimonial state, where there are blurred lines between the public and private space,” said Deepanshu Mohan, a professor at India’s OP Jindal Global University.
“This is how the Trump government operates and (what it) expects of its allies. India has also accordingly reacted to cozy up to Trump.”
A blooming bromance between Trump and Indian Prime Minister Narendra Modi was on display during the latter’s recent visit to Washington.
In January, the Trump Organization pledged it would engage in “no new transactions with foreign governments” during Trump’s second term, except for “ordinary course transactions.”
It said all money generated by transactions such as foreign dignitaries staying at Trump properties would be donated to the US treasury.
But the boundaries can be fuzzy.
A Trump-branded hotel and golf complex is currently under construction in Oman on government-owned land. The Trump family also has a deal with LIV Golf, the pro tour controlled by Saudi Arabia’s sovereign wealth fund.
The Trump Organization did not respond to requests to comment from AFP.
In another significant step towards the Zero Tolerance Policy against drugs, a notorious gangster and drug trafficker, Jagdeep Singh alias Jaggu Bhagwanpuria, today shifted from Bathinda in Punjab to Central Jail, Silchar (Assam).
The coordinated operations, driven by intelligence-led investigations, aim to sever the operational command of entrenched criminal networks functioning from behind bars.
This is a strategic success in dismantling drug networks operating from jail: NCB
You’re at a dinner gathering. You know, the kind where arguments break out over everything from politics to sports. Then someone, usually the “finance guy” of the group, leans in and says, “If only we had bought Bitcoin 10 years ago.” You roll your eyes. Everyone has that friend. The table erupts in groans. Someone jokes, “Yeah, and if only we had bought land in Mumbai in the ’90s!” Everyone laughs, but deep down, there’s an uneasy truth hanging in the air. You know what they’re saying is right!
Now, imagine that conversation happening not at a dinner table, but inside India’s central bank or finance ministry. The regret isn’t about an individual’s lost opportunity, but about our failure to act as a nation. India, often touted as one of the fastest-growing economies and a future global powerhouse, has yet to secure its stake in the digital asset revolution. By not investing in cryptocurrencies, India risks missing out on one of the most asymmetric financial opportunities of the century.
We have a choice to make: we can either start gradually building strategic cryptocurrency reserves now, leveraging digital assets for diversification and as hedges against financial uncertainty, or wait until these assets become too difficult to accumulate at scale.
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Crypto Tracker
Cryptocurrencies aren’t an experiment anymore. While Bitcoin is the most widely adopted, making it the primary example in this discussion, the broader argument applies to cryptocurrencies as a whole. The Bitcoin network has been operational for over 99.98% of the time since its inception in 2009. Cryptocurrencies have survived wars, regulatory crackdowns, and multiple financial crises. If you had bought Bitcoin at any point and held it for any period of four years, history shows you would have never lost money. Fast forward to the present, and we see major institutions like BlackRock, sovereign wealth funds, and even some national governments securing their exposure to cryptocurrencies as part of their long-term economic strategies.
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Unmatched in contemporary financial history, Bitcoin has increased in value by almost 200X within the past ten years alone. For context, this performance outpaces even the most successful stocks of the last decade. Even NVIDIA grew about 50X and Apple about 10X during the same period. If another asset class showed even close to these returns, we would be stockpiling it as if there were no tomorrow and considering it the ultimate source of value. So, why do we hold cryptocurrencies to such different and higher standards? Does the skepticism still make sense?
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There is no denying the fact that the crypto space has seen various scams, rug pulls, meme coins, and bad actors, just like any emerging financial system throughout history. That’s exactly why regulation is necessary and long overdue, to protect investors and ensure responsible adoption. But none of this takes away from the fundamental appeal of cryptocurrencies. So, here’s the real question… If individuals, corporations, and even some governments are leveraging cryptocurrencies as a strategic asset, why shouldn’t India do the same? India is a fast-growing economy that is deeply integrated into global trade and exerts sizable influence in the global economy. Despite this, India does not have the privilege of a global reserve currency like the US dollar. Consider this: India represents over 17% of the global population and contributes approximately 7% of global GDP, yet remains vulnerable to external economic shocks. While we have built a strong and well-functioning financial system, our reserves remain concentrated in traditional assets like gold and foreign exchange. A strategic cryptocurrency reserve could serve as a forward-looking hedge against future financial uncertainty.
As the world’s fifth-largest economy with over $600 billion in forex reserves, India’s economic decisions carry global weight. A strategic cryptocurrency allocation would not only diversify our national reserves but could potentially reduce our vulnerability to US dollar fluctuations and provide a hedge against global monetary instability.
Diversification: The Age-Old Wisdom That Still Holds True
Ask any central banker, fund manager, or financial advisor, and they will all agree that diversification is key to successful investing. You don’t put all your eggs in one basket, and you certainly don’t bet the future of an economy on a single asset class. India has always taken a diversified approach, including gold, foreign exchange reserves, and a mix of assets to weather economic storms. But in a world that’s rapidly digitizing, are we really diversified if we’re ignoring digital assets? This becomes particularly relevant as these assets tend to have little correlation with the performance of traditional assets.
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So, let’s get one thing clear: Bitcoin isn’t the new digital gold, nor is it here to replace gold. It’s an evolution of value, bringing new utility and possibilities that gold never needed to offer.
Gold and Bitcoin share fundamental traits; both are scarce, resilient, and serve as hedges against uncertainty in different ways. Gold’s value is rooted in tradition and history, while Bitcoin’s is defined by its fixed supply and its digital, decentralized nature.
But they serve different purposes. Gold is stable, tangible, and time-tested. Bitcoin is borderless, programmable, and built for a digital economy. Bitcoin offers properties that gold cannot match: it can be transferred anywhere in the world in minutes, divided into microscopic fractions, and secured with cryptographic protocols that make theft or confiscation virtually impossible with proper security practices. One preserves value; the other expands its possibilities. If gold is the anchor that keeps wealth steady, then cryptocurrencies are the bridge to the financial future. Neither needs to replace the other; they need to work together.
The US Is Making Big Crypto Moves… Will India Catch Up or Lag Behind? While we debate whether digital assets deserve a place in sovereign reserves, the United States is already making decisive moves. President Donald Trump recently signed an executive order to establish a strategic Bitcoin reserve, signaling a significant shift in how nations perceive and utilize digital assets. He has even joked about solving America’s deficit with Bitcoin! That might be a stretch, but what’s clear is that they’re taking this seriously.
India stands at a unique geopolitical crossroads, with the opportunity to chart its own path between China’s crypto prohibition and America’s increasing embrace. With our strategic position in the Indo-Pacific region and our growing economic influence, India’s approach to cryptocurrency reserves could become a model for other emerging economies while strengthening our financial sovereignty.
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Meanwhile, we’re seeing entire publicly listed companies built around Bitcoin as a core asset. Take Michael Saylor’s MicroStrategy (now Strategy), which started as a software firm and has now become a Bitcoin powerhouse, holding over $42 billion worth of BTC. This strategy has paid off handsomely. MicroStrategy’s stock has appreciated by over 1,500% since launching its Bitcoin treasury strategy in August 2020. It’s no longer just an investment for some; it’s the foundation of an entire corporate strategy. Countries like El Salvador have adopted Bitcoin as legal tender. According to Chainalysis’ 2023 Global Crypto Adoption Index, India ranks among the top 10 countries globally for cryptocurrency adoption!
If the US and large corporates are preparing for a world where digital assets play a major role in sovereign strategy, why are we still waiting on the sidelines? China tried banning Bitcoin. It didn’t work. The US is embracing it. What’s going to be our move?
The Rising Utility of Cryptocurrencies An argument that keeps resurfacing is that ‘Crypto is just speculation.’ But reality tells a different story. Digital assets aren’t just another investment class; they’re shaping industries in real-time.
Take payments: Companies like Microsoft, Starbucks, and AT&T now accept Bitcoin and stablecoins for transactions. The financial system is shifting, whether we like it or not.
Look at investment vehicles: The US’ approval for Bitcoin ETFs has made it easier for institutions to enter the market. Within the first three months of approval, US Bitcoin ETFs attracted over $12 billion in inflows, demonstrating massive institutional demand. More liquidity, more mainstream adoption.
Think about remittances: Millions of people send money across borders every day. Crypto allows them to do it faster, cheaper, and without higher transaction costs, especially in regions with underdeveloped financial markets. The World Bank estimates that remittance fees average 6.4% globally, while cryptocurrency transfers can reduce this to under 1%, saving developing economies billions annually.
India receives over $130 billion in yearly remittances. That’s roughly 15% of all remittances worldwide! Cryptocurrency-based transfers could save Indian families billions in fees while dramatically reducing settlement times from days to minutes. This represents both an economic and social benefit for millions of Indian households.
Then there’s DeFi (Decentralized Finance). The total value locked in DeFi protocols exceeds $100 billion, demonstrating significant market confidence in these new financial systems. The future of finance isn’t being debated; it’s being built on blockchain. And as the real-world utility of digital assets continues to grow, so does their value.
A Smarter Approach: Start Small, Scale Fast The argument is about making a strategic, forward-thinking move that positions India at the forefront of the digital economy.
The approach? Start small, think big. A 1-2% allocation in digital assets is a measured step, not a gamble. Track its performance, take cues from early movers like the US, El Salvador, and even large companies like MicroStrategy, and refine the approach as we go. Encourage Indian financial institutions to experiment with crypto-backed financial instruments in a limited way. Instead of waiting on the sidelines, we can proactively shape a regulatory framework that fosters innovation while ensuring stability.
This approach aligns perfectly with India’s broader digital transformation goals under the Digital India initiative. Just as we’ve digitized payments, government services, and identification systems, a measured approach to cryptocurrency reserves represents the next frontier in our digital leadership journey.
ETMarkets.com
Why Crypto Reserves Make Sense for India
India must think about how we want to position ourselves for the future. Holding digital assets could give India an edge by reducing reliance on external financial systems and insulating us from geopolitical and monetary shifts. It’s about economic sovereignty in a world where financial landscapes are changing fast.
We’ve seen this playbook before. India wasn’t the first mover in digital payments, but we built UPI into a system that the world now looks up to. The same can be done with sovereign crypto reserves… not by following, but by leading. The long-term appreciation of digital assets has been staggering. Cryptocurrencies have outpaced traditional assets in returns, proving that they’re more than just a gamble. A small allocation today could translate into massive financial strength in the coming decades.
India possesses another unique advantage: the world’s largest pool of technology talent. Our engineers and developers are already contributing to blockchain projects globally. A national strategy for cryptocurrency reserves would not only benefit from this expertise but could potentially create a new sector of high-skilled jobs and innovation hubs across the country, strengthening India’s position as a global technology leader.
Crypto isn’t going away. The real question is… will India be a leader or a follower?
While the Reserve Bank of India has expressed valid concerns about cryptocurrencies in the past, a carefully regulated strategic reserve approach addresses these concerns while capturing the benefits. Many countries, including Singapore and Japan, have demonstrated that thoughtful regulation can mitigate risks while fostering innovation. India has the regulatory sophistication to thread this needle successfully.
We can either start building a strategic reserve today, or in five years, we’ll be at another dinner party, hearing someone say, “If only India had bought Bitcoin back in 2025…” The time to act is now. Let’s not wait until it’s too late.
About the Author Anurag Arjun, co-founder of Avail, is a seasoned entrepreneur who has founded several successful startups across diverse industries, including cash flow lending, regulatory tech, and blockchain infrastructure. He entered the blockchain space in 2017 with the co-founding of Matic Network, which evolved into Polygon Labs — one of the most prominent platforms for scaling Ethereum.
(Disclaimer: Recommendations, suggestions, views and opinions given by the experts are their own. These do not represent the views of the Economic Times)
Singapore, Award-winning Indian-origin writer and playwright Kamaladevi Aravindan was among six women who were inducted into the Singapore Women’s Hall of Fame recently, making up a total of 198 women who have been honoured since 2014.
Singapore-Indian writer inducted into Women’s Hall of Fame
Initiated by the Singapore Council of Women’s Organisations , which marks its 45th anniversary this year, the Women’s Hall of Fame celebrates progress in gender equality and recognises inductees’ contributions to Singapore’s history, society, and progress.
Aravindan, 75, writes in both Tamil and Malayalam, and some of her works have been translated into English and published in India, Canada, and Malaysia, Channel News Asia reported on Sunday.
She has published more than 160 short stories and essays, 18 stage plays, 300 radio dramas, and five books. She also conducts creative writing workshops organised by the National Library Board and the Association of Singapore Tamil Writers.
“Balancing the roles of a mother and wife was never easy. I devoted my days to caring for my children and would write through the quiet hours of the night. Despite the challenges, my love for writing never wavered,” she was quoted as saying by the channel.
She said that reading the works of Tamil writer-journalist and advocate of women’s rights Subramania Bharati, also known as Bharathiyar, sparked her interest in writing.
“I observed the struggles women faced as they navigated their many roles, yet I also saw their resilience. No Singaporean woman is ever truly defeated. Writing became my own way of capturing that strength and perseverance,” she said.
Aravindan joined five other Singapore women in the Hall of Fame on Friday.
Liu Bin, 51, is an internationally recognised scientist, engineer and innovator.
Ivy Ng, 67, is a clinician and former group chief executive officer of SingHealth and KK Women’s and Children’s Hospital. June Rusdon, 65, has grown her business into a regional network of 142 centres with an enrolment of more than 15,000 children, and two teacher training colleges.
A pioneer art curator of the National Museum of Singapore, Constance Sheares, 84, helped establish the National Museum Art Gallery in 1976.
Vivien Goh, 77, is a pioneer music educator. She founded the Singapore National Youth Orchestra in 1980, now regarded as one of the best youth orchestras in Asia.
This article was generated from an automated news agency feed without modifications to text.
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