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Sajid Chinoy: 'We should be thinking of easing Press Note 3 and attracting more Chinese FDI'

This India Today Special Report, hosted by Rajdeep Sardesai, features a pre-budget roundtable ahead of Finance Minister Nirmala Sitharaman's ninth consecutive Union Budget. The panel, including economists Neelkanth Mishra and JP Morgan’s Sajid Chinoy, analyzes the 2026 Union Budget challenges amidst global headwinds and geopolitical uncertainty. Key discussion points include fiscal consolidation, job creation, and the necessity of private investment to drive long-term economic growth. Sajid Chinoy advocates for strategic trade shifts, suggesting the easing of Press Note 3 to attract Chinese Foreign Direct Investment (FDI) for local job creation and technology transfer. The experts debate India's potential entry into the CPTPP and the impact of rupee volatility on macroeconomic stability. The program examines the balance between fiscal discipline and structural reforms required to boost labor incomes. This comprehensive analysis explores how global financial instability and fragmented trade environments influence India's growth trajectory as the nation approaches its demographic peak in 2047, emphasizing the urgency of a fast-paced reform agenda.

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Iran has no choice but to fight back ferociously: Esmaeil Baghaei on war with US

In an exclusive interview with India Today TV, Esmaeil Baghaei, the spokesperson of the Ministry of Foreign Affairs of Iran, discussed Tehran's response to US President Donald Trump's threats. He detailed the history of Tehran's diplomatic engagement with Washington, highlighting the US withdrawal from the JCPOA and the assassination of IRGC Commander Qassem Soleimani. He explained Iran's recent proposal to end the war and reopen the Strait of Hormuz, which the US rejected. Baghaei stated, "Blockade itself is a declaration of an act of war," attributing the current international maritime and energy crises, including those affecting India, to actions by the US and Israel. He also questioned why the disarmament of Israel's nuclear weapons is not part of global demands, noting Iran's compliance with the NPT. Addressing the possibility of a ground invasion by the US, Baghaei affirmed Iran's military readiness, warning, "We have no other choice other than fighting back ferociously." He emphasised that Iran is defending its homeland and international law against aggression.