How a food crisis in India fed America’s library collections

Getty Images A Sanskrit book in IndiaGetty Images

In 1996, Ananya Vajpeyi, a story graduate student, discovered the famous South Asia collection of books at the University of Chicago’s Regenstein Library.

” I’ve spent day in some of the leading South Asia books of the world, at Oxford and Cambridge, Harvard and Columbia. But nothing has ever matched the eternal riches held at the University of Chicago”, Ms Vajpeyi, then a visiting teacher at India’s Ashoka University, told me.

The 132-year-old University of Chicago homes more than 800, 000 levels related to South Asia, making it one of the world’s top choices for research on the area. But how did a place where there is such a treasure trove of North Eastern writing?

The answer lies in a programme called PL-480, a US initiative launched in 1954 under Public Law 480, also known as the Food for Peace, a hallmark of Cold War diplomacy.

Signed into law by President Dwight D Eisenhower, PL-480 allowed countries like India to get US corn with local money, easing their international exchange problem and reducing US deficits. One of the largest consumers of this meal aid was India, especially in the 1950s and 1960s, when it experienced severe food shortages.

Participating US institutions received the local coin money at no extra cost. These resources were used to purchase native books, periodicals, recorder records, and “other media” in many American languages, enriching collections at over two hundred universities. As a result, universities like the University of Chicago served as academic centers for South Eastern reports. According to Indian ancient laws, manuscripts were kept out.

Getty Images hicago, IL, USA - March 12, 2015: The Joseph Regenstein Library at the University of Chicago in Chicago, IL, USA on March 12, 2015.Getty Images

According to James Nye, chairman of the University of Chicago’s Digital South Asia collection, “PL-480 has had amazing and unexpected implications for the University of Chicago and for more than 30 different US choices.”

Building a compelling collection series from South Asia was not a simple task.

In Delhi, in 1959, a particular team made up of 60 Indians was created. Primarily focused on picking up state papers, the project expanded over five years to encompass books and periodicals. By 1968, 20 US institutions were receiving supplies from the growing set, as noted by Maureen LP Patterson, a leading bibliographer of South Asian research.

In a paper published in 1969, Patterson recounted that in the early days of the PL-480, the team in India faced the challenge of sourcing books from a vast, diverse country with an intricate network of languages.

They needed the knowledge of book dealers with a track record of good judgment and efficiency. Given India’s size and the complexity of its literary landscape, no single dealer could handle the procurement on their own, Patterson, who died in 2012, wrote.

Instead, dealers were selected from various publishing hubs, each focusing on specific languages or groups of languages. This collaboration worked seamlessly, with dealers sending titles they were not certain about for approval. The final selection rested with the Delhi office, Patterson noted.

Photographic Archives at the University of Chicago Joseph Regenstein LibraryPhotographic Archives at the University of Chicago

The program wanted to pick up a comprehensive collection of all-encompassing Indian fiction. Patterson wrote,” The policy netted a large number of detective stories and novels of no lasting value.”

In 1963, the option to buy books was narrowed down to “research level material,” and the intake of fiction in many languages was reduced by half. By 1966, more than 750, 000 books and periodicals were sent to American universities from India, Nepal and Pakistan, with India contributing more than 633, 000 items.

“We’ve sent works like History of India from 1000 to 1770 AD, Handicrafts in India, Hindu Culture and Personality: A Psychoanalytic Study, and more,” a report on a meeting in an US library on the programme in 1967 said.

Todd Michelson-Ambelang, librarian for South Asian studies at the University of Wisconsin–Madison, wonders if vast collections from the region in US and other Western libraries took away literary resources from the Indian sub-continent.

Founded during Cold War tensions and funded by PL-480, his university’s South Asia centre grew its library to more than 200, 000 titles by the 21st Century.

According to Mr. Michelson-Ambelang, the removal of books from South Asia through programs like PL-480″ creates knowledge gaps,” as researchers there frequently need to travel to the West to access these resources.

If all the books that were then purchased by US universities from India are still available there, it’s not clear whether or not. According to Maya Dodd, of India’s FLAME University, many books now unavailable in India can be found in the University of Chicago’s library collections, all marked with the stamp saying “PL-480”.

” Books that were awarded through the PL-480 program are still popular in South Asia for the most part. However, keeping up with temperature and humidity levels is frequently difficult due to white ants, pests, and poor preservation. In contrast, most materials in the West remain well-preserved thanks to the preservation and conservation efforts in our libraries”, Mr Michelson-Ambelang says.

Ananya Vajpayee Ananya VajpeyiAnanya Vajpayee

Another reason why Mr Michelson-Ambelang calls the Western libraries colonial archives “partly is because they serve academics, often excluding those outside their institutions. While librarians are aware of the barriers to sharing of South Asian materials, copyright laws only narrow these gaps.

So, what happened when the PL-480 programme ended?

Mr Nye says the end of the programme in the 1980s, shifted the financial burden to American libraries. “Libraries in the US have had to pay for the selection, acquisition, collection, and delivery of resources,” he said. For example, the University of Chicago now spends more than $100,000 annually on buying books and periodicals through the Library of Congress field office in Delhi.

Ms Vajpeyi believes the books-for-grain deal had a positive outcome. She studied Sanskrit, but her research in University of Chicago spanned Indian and European languages- French, German, Marathi, and Hindi- and touched on linguistics, literature, philosophy, anthropology, and more. ” At the Regenstein Library, I never failed to find the books I needed or get them quickly if they weren’t already there”, she says.

” The books are safe, valued, accessible and used. Everywhere I’ve been, I’ve visited libraries, archives, and other institutions, and the state of our nation’s economy is generally dismal. They were frequently lost, neglected, or otherwise rendered inaccessible in this case.

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Bangladesh-Pakistan thaw to redraw South Asia’s power map – Asia Times

Pakistan’s Prime Minister Shehbaz Sharif saw an opportunity to revive generally strained relationships just days after Sheikh Hasina’s withdrawal and Muhammad Yunus ‘ appointment as Bangladesh’s time chief executive.

Both officials have met half in the last few weeks, opening the way for a political reset with significant implications for South Asia’s politics, following a rare hot conversation between Islamabad and Dhaka.

Bangladesh has acted to end a specific security area at Dhaka Airport for Pakistani people, waived the need for physical inspection of packages, and welcomed the first strong cargo ship to dock at Chittagong Port from Pakistan.

These actions suggest a major heat trend. Pakistan and Bangladesh were after a single country before they split up following a terrible conflict in 1971. Since therefore, Bangladesh has developed stronger relations with neighboring India, Pakistan’s historic enemy.

Even though Pakistan officially recognized Bangladesh in 1974, the historical repercussions of the separation of East Pakistan in 1971 have long persisted in diplomatic relations, with persistently conflicted political and historical narratives also periodically stoking conflicts.

Sheikh Mujibur Rahman, Hasina’s parents, played a vital role in the isolation of Bangladesh, a tradition that added challenges to diplomatic relations. Sheikh Hasina’s relationship to India may have been influenced by that past.

However, Hasina’s ties with Islamabad were somewhat strained. Pakistan, which saw the tests when politically motivated, drew the ire of its own leaders from the Jamaat-e-Islami Party’s murder on conflict murder charges for events relating to 1971. In 2016, both countries expelled officials, more souring relationships.

On December 19, Sharif and Yunus met on the outside of the D-8 event in Cairo, Egypt, for their next meeting, taking place in New York City since September.

In Cairo, the two leaders expressed” satisfaction]with ] the increasing frequency of high-level contacts”, Sharif’s office said in a statement.

He expressed Pakistan’s “keen wish to increase bilateral cooperation, particularly in the areas of industry, people-to-people connections and social exchanges”.

In particular, Sharif mentioned the option for “new avenues of monetary cooperation” and industry in chemicals, concrete clinkers, medical goods, leather goods and the IT sector.

But, reflecting past scars, Yunus urged Sharif to” live the problems of 1971 to support Dhaka proceed forward with its relationship”, the Bangladesh official news agency reported.

” The issues have kept coming up,” he continued. Let’s settle those issues for us to move forward”, he told Sharif. It would be nice to resolve things “once and for all for the future generations”, Yunus said. &nbsp,

Before Hasina came to power in 1996, Dhaka had never previously requested an apology from Islamabad for the “genocide” committed during its war of independence.

In response, Pakistan only described the events as “regrettable” during former military dictator General Pervez Musharraf’s visit to Dhaka in July 2002.

Sharif informed his federal cabinet that his nation was beginning a new chapter of its relationship with Bangladesh upon returning from Egypt after a “positive engagement” in Cairo.

Additionally, he made the announcement that a high-level delegation would travel to Dhaka in February of next year, a ephemeral visit that might alter the dynamics of South Asian alliances.

Regional reset

India appears to be the biggest geopolitical loser as Islamabad and Dhaka get closer as a result of Hasina’s fall, with once-friendly relations experiencing significant decline in recent months.

Hasina maintained a complex relationship with India throughout her tenure. That included a rail connectivity agreement, which would enable India to transport goods to its far-off-the-beaten-path states using Bangladesh’s rail network.

Additionally, Bangladesh approved India’s request to send experts to assess the Teesta River Project, a key bilateral water-sharing initiative.

However, following her ouster amid violent protests, Hasina fled to New Delhi to seek refuge. Since then, Bangladesh has formally requested India’s assistance in extraditing Hasina from court proceedings.

India has acknowledged the request, but it has not provided any additional information, highlighting that Hasina is staying in India for safety reasons.

When protests began against Hasina, she was in China, which has deep and wide ties to Dhaka’s defense establishment, having supplied 72 % of Bangladesh’s military equipment.

The modernization of Bangladesh’s military under the” Forces Goal 2030” has the potential to boost Chinese arms imports further.

As she aimed to strengthen ties with China, Hasina made sure to avoid alienating India while attempting to maintain a strategic balance between the two geopolitical rivals.

However, unlike its relations with India, Bangladesh’s ties with China appear unchanged in the transition from Hasina to Yunus. Yunus was quickly welcomed as the interim leader in Beijing.

On the UNGA in New York in September, Chinese Foreign Minister Wang Yi made a call to Yunus. That same month, Beijing’s ambassador to Bangladesh Yao Wen also called on Yunus.

” No matter what changes have taken place in the domestic situation of Bangladesh, China’s commitment to develop China-Bangladesh relations remains unchanged”, Yao said.

In addition to their conversation, Yunus and Sharif discussed reviving the South Asian Association for Regional Cooperation ( SAARC ), a multilateral body that hasn’t held a summit since 2014.

The last summit took place in Nepal, while the planned 2016 summit in Pakistan was canceled after India, Bangladesh, Bhutan and Afghanistan chose not to participate under Delhi’s influence.

” I am a big fan of the idea of SAARC. I keep harping on the issue. Even if the summit is just for a photo session, Yunus said,” I want a summit of SAARC leaders because it will convey a powerful message.”

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Christmas in India: How Indian artists envisioned Christ’s birth

From the American Library library A 1630 painting of Virgin and child with influences of Islamic artFrom the American Library library

The birth of Jesus Christ, a pivotal bible event, has been the subject of numerous paintings by European painters who have frequently used the themes of splendor and ingenuity to depict the occasion on cloth.

These works subconsciously prevent those outside the West from having an impact on this bible event and are one of the most commonly available examples of Christian art.

However, Indian artists have tried to convey their vision of this event through the depiction of Jesus ‘ birth and other Christian themes over the years.

Some have done so deliberately, some unintentionally, but the end result is a body of work that breathes new life and meaning into the event of Christ’s birth, and Christianity itself.

Here are some drawings from the history of Indian art that examine Jesus ‘ delivery from a particular context.

Muhammad Jalaluddin Akbar, the Mughal prince, is credited with bringing Jesuit missionaries to his court and converting north India to Christianity.

The preachers brought with them German artworks and sacred scriptures that influenced court painters. Akbar and his descendants even commissioned numerous paintings with Christian styles, and some court paintings started incorporating elements of Muslim art into these works.

Neha Vermani, a scholar of South Asia, discusses a painting by Mughal judge artists that featured king Muhammad in the traditional Mary, Joseph, and baby Jesus in the birth scene.

” Roman rulers saw themselves as being’ just’ leaders, capable of maintaining unity and harmony in their kingdoms, they were’ general rulers’. According to Ms Vermani, allowing various sects to coexist was essential to how they saw themselves and wanted to become remembered.

The 18th Century artwork below features standard artistic elements of Mughal art, including very stylised figures, vivid colours, naturalism and ornamentation.

The British Museum's Trustees Mary in blue cloak and mauve dress, seated on a terrace holding baby Jesus, surrounded by attendants holding various bowls and dishes. A tree and a building with red and green curtains in background. Ornate colourful floral border.The British Museum’s Trustees
From the American Library library A 1630 painting of Virgin and childFrom the American Library library

Born in 1887 in what is now India’s West Bengal state, Jamini Roy is credited with bringing up parts of Bengali traditions skill and Kalighat paintings, a unique art form that was first developed close to a well-known church in Kolkata area.

According to Ashish Anand, CEO and managing director of DAG, art critic WG Archer once pointed out that Christ represented a Santhal number for Jamini Roy ( the Santhals are an American cultural party ).

Roy found his paintings on Christian themes to be at least as significant as those on Hindu myth, all of which were rendered in a folk type of modernism, to be unique and his own, he says.

Image Courtesy: DAG A painting of Mary with baby Jesus by Jamini RoyImage Courtesy: DAG
Image Courtesy: DAG Madonna with Jesus and the Magi by Jamini RoyImage Courtesy: DAG

Angelo de Fonseca, who was born in Goa in 1902, is credited with creating a unique Christian symbolism that incorporated both his Goan tastes and Eastern influences.

Mary is not depicted as a fair lady in a blue outfit in his paintings, but she resembles a woman with brown skin, sari, and classic Indian jewelry, which married Hindu women wear.

Biblical scenes take place in regional contexts and contain themes and elements appropriate for American audiences.

He attempted to refute the notion that the West is the birthplace of visual creativity and beauty through his art.

” Fonseca wanted to interpret Christianity within the Indian peninsula, which has largely been seen as a western religious history.” It was from this anxiety that his paintings painted Christianity anew”, RinaldD’Souza, chairman of the Xavier Centre of Historical Research, Goa, told the BBC.

Xavier Centre of Historical Research, Goa A watercolour on paper painting of Mary and baby JesusXavier Centre of Historical Research, Goa
Xavier Centre of Historical Research, Goa An oil on canvas painting of Mary with baby JesusXavier Centre of Historical Research, Goa

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GIC boosts investment by 0m in Asia Healthcare Holdings | FinanceAsia

Asia Healthcare Holdings ( AHH), which runs a specialty hospitals focused healthcare platform, has received$ 150 million of backing GIC, Singapore’s sovereign wealth fund.

Following GIC’s initial$ 170 million investment in AHH in February 2022, alternative asset manager TPG even supports AHH.

Bangalore-headquartered AHH has invested roughly$ 300 million across hospital chains in Oncology, Mother &amp, Childcare, Urology &amp, Nephrology, and IVF &amp, Fertility under nursery specialist.

AHH’s platform includes Motherhood Hospitals, Nova IVF, and Asian Institute of Nephrology &amp, Urology ( AINU) hospitals. The largest network of Neonatal Intensive Care Units ( NICUs ) is part of the pan-India chain of mother and child hospitals that provide services for women from pre-conception to post-birthing care for both children and children.

Nova, a leading ovulation company, offers best-in-class IVF treatments in South Asia. India’s even network of cardiac and nephrology specialty hospitals with advanced urology care, including mechanical surgery and cutting-edge nephrology procedures, is India’s only Urology & Nephrology specialty hospital network.

” We started AHH as a care delivery system that would invest, enhance and increase single niche enterprises under one holding organization”, said Vishal Bali, executive chairman, AHH, in a statement. Our distinguished purchase strategy has since created significant growth opportunities to address India’s healthcare services demand/supply gap.

Looking back, we continue to discover significant growth potential for single-specialty healthcare delivery companies. AHH’s unique running type and the synergies we can use from the platform’s level may enable us to recreate our achievement across the new areas we bring under our fold. GIC and TPG Growth’s long-term devotion to AHH is the precursor to expand our growth”, Bali added.

Dah Yong Cheen, chief investment officer of secret capital, GIC, noted:” As a long-term trader, we are confident in India’s second specialty healthcare sector, which has powerful tailwinds for growth driven by increasing per capita income, urbanisation, higher awareness of specialty care, and improved supply of high-quality clinics. Its potential to grow into new sub-segments makes AHH well suited for continued success.

¬ Haymarket Media Limited. All rights reserved.

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Asia’s bond outlook upbeat for issuers in 2025: JP Morgan | FinanceAsia

A combination of lower interest rates, lower failures, and more securities is good for businesses and governments looking to enter Asia’s bond market in 2025.

There are hopes for Asia’s tie business next year to beat 2024 which is expected to hit$ 160-165 billion in 2024 for Asia, ex-Japan. There is a lot of willingness from banks to provide in the area as issuers prepare to enter the market, which is helping to keep extends small.

Speaking at an early December press presentation in Hong Kong, Jessica Chen, head of China DCM, creation Asia ex-Japan, JP Morgan:” General spreads are small and look extremely attractive to issuers. In 2024, China is expected to overtake Korea in terms of release ( from 2023 ) as the country’s largest business”.

Chen added:” We are expecting$ 170 billion of supply in 2025 in Asia, ex Japan with stockpile to pick up over 2024. We anticipate that this pattern will continue as some businesses mortgage next year.

Another positive factor is that regional relationship failures are declining, and that the US Fed will cut interest rates even further in the coming year. &nbsp, &nbsp,

Soo Chong Lim, managing director, head of Asia credit research, JP Morgan, said:” Bond default rates declined to around 4.4 % in 2024 compared with 17 % in 2023, and we expect them to decline further to 3 % in 2025″.

Despite falling interest rates in the US, anticipation are mixed regarding home bonds and the potential for some headwinds. &nbsp,

Lim added:” We expect three]US Fed ] rate cuts in 2025 and China’s GDP to grow 3.9 % next year. There will still be market volatility, particularly for the Chinese real estate sector, which is recovering slowly after a number of years of volatility. For instance, in Hong Kong, the company occupancy rate will continue to decline as a result of the supply that enters the market.

In 2024, India – probably Asia’s best performing market– had a very powerful yr for bond issuances, a trend that is set to remain in the new year.

Puja Shah, head of Southeast Asia ( SEA ), DCM and sustainable finance Asia ex-Japan, JP Morgan, said:” The high yield bond market in India was a particular bright spot in 2024 with some large names coming onto the market. It is at$ 4.7 billion YTD, and we expect that momentum to continue into 2025 with around$ 5 billion in supply”.

The issuing of green bonds is expected to increase as well. Singapore-based Shah added:” We expect stable demand, at between 25-30 % of issuances, for sustainable ( green and social ) bonds next year in the region, compared with 25 % in 2024″.

¬ Plaza Media Limited. All rights reserved.

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India must atone for Bangladesh’s lost decade – Asia Times

In the annals of South Asia’s social background, India’s role in sustaining Sheikh Hasina’s government in Bangladesh stands as a striking training in the dangers of evaluating short-term corporate interests over long-term regional security.

India may deal with its guilt in preserving a program that had hampered a nation’s democratic aspirations as Bangladesh emerges from Hasina’s authoritarian rule.

The seeds of Bangladesh’s lost generation were first put in 2013 during a key visit by Sujata Singh, therefore India’s Foreign Secretary. Her visit included a meeting with General Hossain Mohammad Ershad to urge him to join in an election that all major opposition parties had abandoned only weeks before Bangladesh’s contentious general elections.

Bangladesh’s lost decade was initiated by this direct action to turn its brittle yet effective politics into fascism with American support.

It marked a pivotal moment for some Bangladeshis, highlighting the fact that India had chosen to support a routine rather than the people’s political aspirations.

In 2018 and again in 2024, much of the global society distanced itself from the Awami League’s controlled elections. However, India stood solid as Hasina’s only backer, providing her government with the worldwide legitimacy it sorely needed.

This unwavering support, combined with New Delhi’s silence on human rights abuses and political fraud, reinforced India’s picture as the innovator of a dictator. Without India’s approval, Hasina’s grip on power could not have endured.

Decade of oppression

India’s aid for Hasina was no moral. Throughout her career, essential agreements favored American interests, from transport routes to energy exports, usually at Bangladesh’s expense.

These offers were perceived by many as Hasina’s “return of favour” for India’s social support, reinforcing the storyline that she served American interests rather than her own individuals. Further eroded trust as a result of the fear that Hasina was turning Bangladesh into an Indian customer condition, similar to the death of Sikkim.

This view is key to Bangladesh’s federal consciousness. While Hasina’s state leaned heavily on India, regular Bangladeshis saw this marriage as manipulative. The Awami League’s law became associated with both local persecution and additional persecution.

Yet, India, remarkably, seems oblivious to the deep resentment this has fostered. Indian policymakers have historically seen their relationship with Bangladesh through the lens of Hasina, failing to meaningfully engage with the Bangladeshis.

India’s missteps were compounded by its media establishment, which played a significant role in distorting the narrative around Bangladesh’s political student-led revolution that ousted Hasina, as she shamefully fled to India by helicopter.

Rumor Scanner discovered that 49 Indian media outlets had spread 13 false stories about Bangladesh, many of which depicted the country’s democratic uprising as an Islamist insurgency.

One of the most glaring examples was Indian media’s coverage of the post-Hasina uprising. Newspapers like Firstpost and The Economic Times made illogical claims that China and Pakistan’s ISI intelligence agency orchestrated the protests to install an anti-India government.

Such propaganda did not only include opulent media outlets. Mamata Banerjee, the chief minister of West Bengal, joined the chorus and demanded an UN mission to help in Bangladesh. This action heightened tensions even further.

India framed the post-revolution backlash against the Awami League’s oppressive apparatus as targeted Hindu oppression, ignoring its roots in widespread political grievances.

India further alienated Bangladesh’s people by reducing the uprising to a communal narrative, presenting it as an attempt to shield a discredited regime under the pretext of protecting minorities.

The Agartala attacks and the communal framing of events in the Indian media have only heightened anti-India sentiment in Bangladesh.

Indeed, these narratives ignored the democratic essence of the uprising, portraying it instead as a threat to regional stability. By perpetuating such disinformation, Indian media and politicians alienated the Bangladeshi populace further.

Rebuilding trust

As Bangladesh transitions from Hasina’s authoritarianism, India faces a critical choice: continue the policies of the past or recalibrate its approach to reflect the aspirations of a democratic Bangladesh. In order to achieve this, New Delhi must fundamentally alter its engagement strategy.

    Engage without any plans to bring Sheikh Hasina back: India must give up its obsession with bringing the Awami League back to power. Any efforts to stifle Hasina’s return or sway domestic politics in Bangladesh will face opposition, which will unfavor bilateral ties irreparably. India should instead concentrate on interacting with Bangladesh’s new leaders and fostering relationships that promote reciprocity and democratic values.

  1. Recognize its contribution to the decade of oppression: Indian policymakers must acknowledge their contribution to enabling Hasina’s oppressive regime. This is a necessary step in the rebuilding of trust, not just an introspection exercise. By putting pressure on Hasina, India suffocated a country that had valiantly fought for the 1990s ‘ restoration of democracy. Without India’s active effort to make amends for its mistakes, this betrayal of democratic ideals will not be forgotten.
  2. Promote equity in partnerships: Bangladeshis widely perceive India’s deals with Hasina’s government as exploitative, benefiting India at Bangladesh’s expense. Moving forward, New Delhi must prioritize equitable agreements that serve both nations ‘ interests. This includes open negotiations on trade, energy, and transit that show a genuine partnership rather than power imbalance.
  3. Combat misinformation and fabricated stories: The Indian media needs to stop spreading false information about Bangladesh. Recognizing the democratic essence of Bangladesh’s struggles, rather than framing them as communal or Islamist threats, is crucial. This also extends to Indian political discourse, which must shed its communal lens when analyzing Bangladesh’s internal affairs.

Burying the Hasina past

India’s relationship with Bangladesh cannot continue to be boundless by the Hasina era.

India must make amends for the country’s role in maintaining a system that stifled democracy and alienated its citizens in order to find a new course. From political interference to exploitative deals and divisive media narratives, it must first acknowledge the harm that its actions have caused.

Bangladesh’s fight for democracy has been long and arduous. Having emerged from the shadows of dictatorship, the nation now seeks a partner, not a patron. For India, this is an opportunity to build a relationship rooted in equality, respect and shared aspirations.

However, if New Delhi fails to adapt and continues to provoke during Bangladesh’s transition toward a new national identity, it runs the risk of causing the country to go down a similar path as Pakistan, which is defined by resistance to Indian influence.

India’s choice is clear: rebuild trust and embrace a democratic Bangladesh, or remain haunted by the legacy of a lost decade.

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Pakistan rolling out a green carpet for global EV makers – Asia Times

By the end of 2030, Pakistan’s New Energy Vehicle ( NEV ) policy aims to have 30 % of new vehicles ( EV ) and envisages a gradual transition to a zero-emission road fleet by 2060, establishing itself as a new player in the global EV market. &nbsp,

In January, China’s BYD partnered with Habibullah Khan to provide Pakistan’s business. Khan’s holding company, Mega Conglomerate, owns Hub Power Company, one of the largest independent power producers ( IPPs ) in the country. The BYD cars may be imported, not produced domestically, according to the news.

An EV boomlet has followed. Pakistan’s Nishat Group announced its car division had debut an Volt with South Korea’s Hyundai, while another secret enterprise issued a statement committing a US$ 250 million investment in Pakistan’s EV market. &nbsp,

Foreign state-owned car makers Changan and MG announced plans to introduce their electric vehicles in Pakistan, while Aima, a brand of Chinese energy two-wheelers, opened an outlet in October.

Awais Leghari, Pakistan’s national energy minister, reported to Asia Times that his team was working on a draft for establishing charging points throughout the nation as part of a campaign to promote electronic cars, motorcycles, and also electrical rickshaws.

Show Dewan Companies, significant for representing BMW in Pakistan, just partnered with Taiwanese EV charger maker Donar. The joint walk aims to provide the necessary equipment for EV charging.

Other Chinese firms such as Great Wall Motors, BAIC, Changan, JAC Motors, FAW, and Chery Automobiles are likewise quickly expanding their footsteps in the country.

Pakistan has the option of reducing its reliance on imported fossil fuels, which drains foreign trade and exposes the country to the uncertainty of the world’s oil prices. By adopting Tesla, Pakistan has the opportunity to reduce its dependence on imported fossil fuels.

However, Pakistan’s success will depend on how well-known electric car manufacturers around the world answer. Despite China’s first supremacy, Pakistan’s EV industry is still largely undiscovered by Western manufacturers, including those from the US and UK. &nbsp,

In the US, the Biden administration’s Inflation Reduction Act ( IRA ) has aimed to spur green energy investments, including in EVs, through tax incentives and other measures. It’s not apparent, but, the IRA‘s EV generate will thrive under Trump 2.0.

” To further defeat inflation, my plan will terminate the Green New Deal, which I call the’ Green New Scam ‘”, Trump said in a speech to the Economic Club of New York in September. ” ]We will ] rescind all unspent funds under the misnamed IRA”, he added.

In his speech at the Republican National Convention in Milwaukee in August, Trump declared,” I will stop the electric car mandate on day one.

The Zero Emission Mandate ( ZEM) was passed into law in the UK in January, making it mandatory to go completely electric vehicles by 2035.

This time, labor leaders said it would restore the ZEV mandate’s unique purpose: 100 % zero-emission cars by 2030. The Daily Mail reported that the government’s federal set its initial mission goal of five years earlier, and that there is a demand that automakers are unable to meet.

This strategy has caused a number of automakers in the UK to be in despair setting. These businesses frequently offer discounts and promotions in exchange for meeting EV sales goals, but maintaining demand has put pressure on even the most well-established businesses.

In response, Vauxhall has announced plans to shut down its Luton mill, and Ford has announced it may reduce 800 jobs in the UK over the next three years due to tense market conditions.

Local collaborations with Pakistan-based businesses may make sense, even though US and UK EV manufacturers are increasingly faced with challenging domestic circumstances.

” We’re offering a range of bonuses, including tax cuts, subsidies, and investment in infrastructure growth”, said Minister Leghari.

Additionally, we’re establishing a one-stop factory for investors, giving them the needed guidance and support to launch their companies in Pakistan. Our goal is to create a level playing field for all owners, regardless of their country of origin”, he said.

While EV desire is stalling in some European countries, it’s growing closely in Pakistan. Additionally, Pakistan’s geographical proximity provides a gate not just to Pakistan but to many other nations just starting to adopt Batteries. It also provides a gateway to South Asia, Central Asia, and the Middle East.

” Our goal is to create a dynamic and business-friendly environment that encourages international manufacturers to establish factories in Pakistan and trade to local industry,” Leghari said. &nbsp,

The state is providing NEV-specific technologies zones at lower price space, leasing options, and natural loans to promote EV manufacturing investment. There will also be sales tax exemptions for locally produced parts, as well as a 1 % customs duty on NEV pieces and 10 % on total NEV imports until 2027, among other financial opportunities.

Other incentives include a lower electricity tariff, a lower goods and services tax rate of 1 % for EVs, and a lower import duty of only 1 % for charging equipment.

Leghari claims that his government is looking into introducing more incentives, such as lowering the express bank’s financing rates, to draw in foreign automakers with domestic market challenges.

While the hopes for Pakistan’s EV industry are promising, there are still several challenges and risks. Like elsewhere, one major obstacle is the lack of charging channels, which certainly is essential for the common EV adoption. &nbsp,

Leghari claimed that the government supports public-private alliances to support the creation of charging system. The government is also working on setting standards for EV charging stations and offering incentives for their setup.

The government and private organizations are installing more charging stations, but the rate is still delayed. Despite the various cost-savings measures, the higher upfront costs of Vehicle automobiles can also be a significant challenge for many consumers.

Pakistan has the ability to become a hotspot for South Asia, Central Asia, and the Middle East’s EV production and trade industry. And not just for Taiwanese EV makers, but also for Western and other Eastern car makers as well. &nbsp, &nbsp,

Owais Rawda is a scientist on power and technology who writes about governmental policy. He can be reached on [email protected]

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Adani Group: Will bribery charges hinder India’s renewable energy goals?

Reuters Indian billionaire Gautam Adani attends the 51st Gems and Jewellery Awards in Jaipur, India, November 30, 2024. REUTERS/StringerReuters

Business leaders have told the BBC that corruption allegations made by a US judge against the Adani Group are unlikely to significantly alter India’s commitment to fresh energy.

Delhi, which is essential to global efforts to combat climate change, has committed to getting half of its energy needs or 500 gigawatts ( GW ) of electricity from renewable sources by 2032.

The Adani Group is expected to make a twelfth of that contribution.

The legal troubles in the US could temporarily delay the group’s expansion plans but will not affect the government’s overall targets, analysts say.

Over the past ten years, India has made significant progress in building a clean energy facilities.

The nation is growing at the “fastest level among key economy” in adding solar potential, according to the International Energy Agency.

Installed fresh strength power has grown five-fold, with some 45 % of the region’s power-generation capacity- of almost 200GW- coming from non-fossil fuel sources.

Charges against the Adani Group- essential to India’s fresh energy ambitions- are “like a passing black cloud”, and will not adequately impact this momentum, a previous CEO of a rival firm said, wanting to remain anonymous.

Getty Images A maintenance worker inspects solar panels at a solar power plant operated by Ayana Renewable Power Pvt. in Tuticorin, India, on Wednesday, March 20, 2024. Getty Images

Gautam Adani has vowed to invest $100bn (£78.3bn) in India’s energy transition. Its green energy arm is the country’s largest renewable energy company, producing nearly 11GW of clean energy through a diverse portfolio of wind and solar projects.

Adani has a goal to scale that to 50GW BY 2030, which will make up roughly 10 % of the region’s unique installed power.

Over half of that, or 30GW, may be produced at Khavda, in the northern Indian state of Gujarat. It is billed as the largest fresh power plant in the world, five times the size of Paris, and the crown jewel of Adani’s solar initiative.

However, US prosecutors are now focusing on Khavda and Adani’s other renewable energy amenities, alleging that they obtained bribes from American officials after winning contracts to supply power to express submission companies from these facilities. The organization has refuted this assertion.

However, the consequences are now discernible at the organization level.

Adani Green Energy immediately canceled a$ 600 million bond offering in the US when the indictment was made public.

France’s TotalEnergies, which owns 20 % of Adani Green Energy and has a joint endeavor to develop various solar projects with the company, said it will end new capital infusion into the business.

Significant credit ratings agencies- Moody’s, Fitch and S&amp, P- have since changed their view on Adani team companies, including Adani Green Energy, to bad. This may affect the company’s ability to raise money and increase the cost of doing so.

As global loans become resentful of the group’s increased exposure, researchers have also raised fears about Adani Green Energy’s ability to refinance its debts.

International lenders like Jeffries and Barclays are now said to be reviewing their ties to Adani despite the group’s dependence on foreign banks and local friendship issues for long-term bill increasing from little 14 % in the 2016 fiscal year to nearly 60 % as of this writing, according to a Bernstein note.

Nomura, a Japanese brokerage, claims that new financing should “gradually resume in the long term” despite the possibility that it might dry up in the short term. Meanwhile, Japanese banks like MUFG, SMBC, Mizuho are likely to continue their relationship with the group.

The “reputational and sentimental impact” will fade away in a few months, as Adani is building” solid, strategic assets and creating long-term value”, the unnamed CEO said.

Getty Images This aerial photograph taken on October 15, 2024 shows solar panels installed at the Adani Green Renewable Energy Plant in Khavda, in India's Gujarat state. Getty Images

The Adani Group’s spokesperson told the BBC that it was” confident of delivering 50 GW of renewable energy capacity and committed to its 2030 goals.”

Adani stocks have rebounded significantly from their lowest levels since the US court’s indictment.

Some analysts told the BBC that Adani’s competitors might benefit from a potential slowdown in funding.

While Adani’s financial influence has allowed it to rapidly expand in the sector, its competitors such as Tata Power, Goldman Sachs-backed ReNew Power, Greenko and state-run NTPC Ltd are also significantly ramping up manufacturing and generation capacity.

” It’s not that Adani is a green energy champion. Being the biggest private developer of coal plants in the world, it is a big player that has walked both sides of the street,” said Tim Buckley, director at Climate Energy Finance.

A large entity, “perceived to be corrupt” possibly slowing its expansion, could mean “more money will start flowing into other green energy companies”, he said.

According to Vibhuti Garg, director of South Asia at the Institute for Energy Economics and Financial Analysis ( IEEFA ), market fundamentals also continue to be strong, with India’s demand outpacing supply, which is likely to maintain the appetite for large investments.

What could in fact slow the pace of India’s clean energy ambitions is its own bureaucracy.

” Companies we track are very upbeat. Finance isn’t a problem for them. If anything, it is state-level regulations that act as a kind of deterrent”, says Ms Garg.

Getty Images Wind turbines at the ReGen Powertech Pvt. farm in Dewas, Madhya Pradesh, India, on Friday, Sept. 9, 2022. Getty Images

Most state-run power distribution companies continue to face financial constraints, opting for cheaper fossil fuels, while dragging their feet on signing purchase agreements.

According to Reuters, the controversial tender won by Adani was the first major contract issued by state-run Solar Energy Corp of India (SECI) without a guaranteed purchase agreement from distributors.

According to SEC I’s chairman, there are 30GW of operational green energy projects on the market without buyers.

According to experts, the 8GW solar contract at the heart of Adani’s US indictment also reveals the tense tendering process, which required solar power generation companies to produce modules, which limited the number of bidders and increased power costs.

According to Ms. Garg, the court’s indictment will undoubtedly cause the bidding and tendering rules to tighten.

According to Mr. Buckley, a cleaner tendering process that lowers risks for both developers and investors will be crucial going forward.

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COP29’s new climate finance deal: Will India and China step up? – Asia Times

India and China, the country’s two most popular nations, are key to international environment efforts. They make up over a third of the international community as a whole, and they tremendously increase global pollution. As significant economies and emerging market leaders, their actions may have a significant impact on achieving or preventing international climate goals.

This reality was highlighted by the recent 29th Conference of the Parties ( COP29 ) in Azerbaijan, which was a significant advance in the global climate agenda. Countries converged to set a more ambitious climate finance target, which would accelerate action on pollution and adaptation, after key agreements were reached to promote climate action at the summit, known as the” climate finance COP.”

The New Collective Quantified Goal (NCQG), which will remove the US$ 100 billion goal that is pending, and commit to organizing US$ 300 billion yearly for developing nations by 2035, was a crucial result.

Nevertheless, the NCQG falls little of the US$ 1.3 trillion goal that developing nations had advocated for, and even that figure may not be sufficient to meet their climate financing needs.

Important questions remain: Who will make the expenses? Does the money remain in the form of grants, concessional funding, or private field loans? And, crucially, how will these tools be allocated and distributed? For the NCQG to really work, these difficulties must get addressed.

Major effects will be had by the new agreement for both China and India. As main players in this environment financing commitment, their contributions, alongside international support, may be crucial in determining whether the world can match its climate objectives.

India is a key emerging economy that struggles to strike a balance between achieving climate goals and achieving financial growth and reducing poverty. India’s need for more climate finance was highlighted by current COP29 discussions as a result of its need for a low-carbon business.

New Delhi has much argued that developed countries, which account for the majority of traditional pollution and have experienced higher levels of economic growth, may bear a larger share of the fiscal load. India has made significant progress in renewable energy, setting a lofty goal of 500 gigawatts ( GW ) of non-fossil fuel-based energy by 2030, but it still faces significant challenges in implementing these initiatives without substantial financial and technological support.

Hope is provided by the NCQG’s commitment to raising US$ 300 billion annually for developing nations. However, India’s request for more significant climate fund is still unheeded.

India’s strategy to weather motion is essentially linked to its growth priorities. India is ranked 10th in the most recent Climate Change Performance Index (CCPI), with a relatively low per capita emissions of 2.9 tons of carbon dioxide equivalent (tCO2 ), which is significantly lower than the global average of 6.6 tCO2. This ranking reflects India’s vigilant climate policies, which demonstrate that green growth is possible even for developing nations.

India has, however, constantly emphasized that climate finance should not have constrained by factors like green standards or policy restrictions that might impair its ability to grow economically. The important issue facing New Delhi may be balancing its development needs with its commitments to the environment, making sure that financial aid is both fair and clear.

China, for its part, has also faced investigation. China’s inappropriate contributions to climate financing at COP29 were subject to intense scrutiny. Its monetary commitment to international climate action is increasingly seen as a decisive test of its authority on the international level because it is the world’s largest emission.

Under the 2015 Paris Agreement, weather fund responsibility falls on developed countries due to their historical pollution. But, negotiators are increasingly urging China to play a bigger economic part.

China maintains its position as a developing nation and opposes mandated contributions, but its deliberate pledges have raised questions about their commitment, setting the stage for further discussion of China’s financial responsibility in international climate actions.

Critics argue that China’s rising world influence, its powerful technological capacity and its reputation as the country’s largest greenhouse gas emitter&nbsp, involve greater role in addressing climate change. China’s position in climate finance will be under increased scrutiny as the pressure mounts against it, especially if Beijing wants to exert greater influence in shaping international climate politics.

Since 2016, China has committed over US$ 24.5 billion in climate financing to developing countries, according to Chinese leaders. Monthly efforts are thought to be around US$ 4 billion, which is around 5 % of what developed nations contribute. While important, it also falls short of the US$ 100 billion annual goal for developed countries, a duty China has yet to join.

China has emerged as a significant person in climate financing, but it does so on its own terms and outside the conventional United Nations construction. Importantly, a significant portion of its monetary contributions are in the form of loans rather than grants, which raises questions about the potential debt burdens of the recipient countries over the long term and the potential viability of the project.

As China’s geopolitical and economic power grows, its climate finance plan will be under increasing pressure, especially as demands for greater accountability and stronger commitments grow.

COP29 set a crucial step with the NCQG. The meeting made clear that India and China are crucial in funding international climate action. Both nations may then set the example. After all, their actions may shape the future of climate politics and international conservation.

Neeraj Singh Manhas is the Republic of Korea’s Parley Policy Initiative’s special assistant for South Asia. He recently held the position of Research Director for the Indo-Pacific Consortium at Raisina House in New Delhi.

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