July 11, 2026

Representative image (PTI file) NEW DELHI: A 28-year-old Indian tourist from Bihar died after drowning in Nepal’s Phewa Lake in Pokhara, police said on Friday.The deceased was identified as Rohit Kumar, who had travelled to Pokhara with four friends. The incident took place on Thursday evening after the group visited the Tal Barahi Temple, located on an island in the lake.According to the district police office, Kaski, the group had docked their boat at the temple when Rohit and one of his friends decided to swim in the lake. During the swim, Rohit reportedly sank into the water and went missing.A disaster management team led by armed police force assistant Sub Inspector Devendra KC, deployed from the Phewa Watch and Rescue Tower, launched a search operation immediately after receiving information about the incident.Rohit was rescued at around 5 pm by a team of the armed police force, Kaski district police spokesperson Birendra Kumar Paswan said.He was rushed to the Western Regional Hospital in Pokhara, where he succumbed during treatment, police said.Authorities are investigating the incident.Get the latest India news and live updates. Download the TOI App.About the AuthorTOI News DeskThe TOI News Desk comprises a dedicated and tireless team of journalists who operate around the clock to deliver the most current and comprehensive news and updates to the readers of The Times of India worldwide. With an unwavering commitment to excellence in journalism, our team is at the forefront of gathering, verifying, and presenting breaking news, in-depth analysis, and insightful reports on a wide range of topics. The TOI News Desk is your trusted source for staying informed and connected to the ever-evolving global landscape, ensuring that our readers are equipped with the latest developments that matter most.”Read MoreEnd of ArticleFollow Us On Social MediaVideosSupriya Sule Dismisses Pawar-Shinde Meeting Row, Calls It A ‘Storm In A Tea Cup’ Amid SpeculationINS Mahendragiri Joins Indian Navy, Boosting Maritime Power Amid Indo-Pacific Challenges | WatchHighway Blocked, Resignations Threatened As BJP Faces Backlash Over Ticket Choice In MPNEET Paper Leak Traced To Contracted Paper Setters, Charge Sheet Likely This Month | WatchIndia, New Zealand Grows Ties to Strategic Partnership; Aim to Double Trade to ₹35,000 Crore by 2030″J&K Is Part Of India”: Indian Diplomat Objects To Map Row At Dhaka Foreign Policy EventSupreme Court Drama: Petitioner Abuses CJI, Throws Papers; No Contempt Action TakenDevendra Fadnavis Clarifies ‘Bhade Ke Tattu’ Remark, Says He Will Call Critics ‘Hired Fools’Amit Shah Announces Smart Border Vision With Four-Pronged Security Grid40-Foot Illegal Pipeline Linked To IOCL Oil Network Found In Rajasthan; Police Probe Oil Theft123PhotostoriesStylish Shubman Gill joins Anjali Sachin Tendulkar at Wimbledon 2026; fans ask, ‘Where is Sara?’World’s 10 most populous cities in 2026 every traveller should know7 foods that feed good gut bacteria better than curd5 DIY haircare ingredients that may be causing more hair fall than you thinkAnanya Panday ditched conventional Wimbledon whites for a chic red Ralph Lauren dress that turned every headEating these 8 foods excessively may contribute to hair fall10 things every Indian child born in the 90s and 2000s remembersRelationship lessons from Riteish Deshmukh and Genelia D’Souza that couples can learnHow to know if fish is fresh: 5 simple signs that can save you from buying stale seafoodWhat happens to your body when you eat chickpeas every day for a month123Hot PicksSIRBlake LivelyGurgaon EncounterCM VijayAlex PereiraPM ModiNico HischierStrait of HormuzSimone BilesTop TrendingGurgaon MonsoonAMU Seerat CertificateTelangana Techie Wife MurderFIFA World Cup 2026Weather TodayTS EAMCET Phase 1 seat allotmentRamesh MhatreDelhi NCR rainGurgaon EncounterIran war

Vamsikrishna01 mins mins
Representative image (PTI file) NEW DELHI: A 28-year-old Indian tourist from Bihar died after drowning in Nepal’s Phewa Lake in Pokhara, police said on Friday.The deceased was identified as Rohit Kumar, who had travelled to Pokhara with four friends. The incident took place on Thursday evening after the group visited the Tal Barahi Temple, located on an island in the lake.According to the district police office, Kaski, the group had docked their boat at the temple when Rohit and one of his friends decided to swim in the lake. During the swim, Rohit reportedly sank into the water and went missing.A disaster management team led by armed police force assistant Sub Inspector Devendra KC, deployed from the Phewa Watch and Rescue Tower, launched a search operation immediately after receiving information about the incident.Rohit was rescued at around 5 pm by a team of the armed police force, Kaski district police spokesperson Birendra Kumar Paswan said.He was rushed to the Western Regional Hospital in Pokhara, where he succumbed during treatment, police said.Authorities are investigating the incident.Get the latest India news and live updates. Download the TOI App.About the AuthorTOI News DeskThe TOI News Desk comprises a dedicated and tireless team of journalists who operate around the clock to deliver the most current and comprehensive news and updates to the readers of The Times of India worldwide. With an unwavering commitment to excellence in journalism, our team is at the forefront of gathering, verifying, and presenting breaking news, in-depth analysis, and insightful reports on a wide range of topics. The TOI News Desk is your trusted source for staying informed and connected to the ever-evolving global landscape, ensuring that our readers are equipped with the latest developments that matter most.”Read MoreEnd of ArticleFollow Us On Social MediaVideosSupriya Sule Dismisses Pawar-Shinde Meeting Row, Calls It A ‘Storm In A Tea Cup’ Amid SpeculationINS Mahendragiri Joins Indian Navy, Boosting Maritime Power Amid Indo-Pacific Challenges | WatchHighway Blocked, Resignations Threatened As BJP Faces Backlash Over Ticket Choice In MPNEET Paper Leak Traced To Contracted Paper Setters, Charge Sheet Likely This Month | WatchIndia, New Zealand Grows Ties to Strategic Partnership; Aim to Double Trade to ₹35,000 Crore by 2030″J&K Is Part Of India”: Indian Diplomat Objects To Map Row At Dhaka Foreign Policy EventSupreme Court Drama: Petitioner Abuses CJI, Throws Papers; No Contempt Action TakenDevendra Fadnavis Clarifies ‘Bhade Ke Tattu’ Remark, Says He Will Call Critics ‘Hired Fools’Amit Shah Announces Smart Border Vision With Four-Pronged Security Grid40-Foot Illegal Pipeline Linked To IOCL Oil Network Found In Rajasthan; Police Probe Oil Theft123PhotostoriesStylish Shubman Gill joins Anjali Sachin Tendulkar at Wimbledon 2026; fans ask, ‘Where is Sara?’World’s 10 most populous cities in 2026 every traveller should know7 foods that feed good gut bacteria better than curd5 DIY haircare ingredients that may be causing more hair fall than you thinkAnanya Panday ditched conventional Wimbledon whites for a chic red Ralph Lauren dress that turned every headEating these 8 foods excessively may contribute to hair fall10 things every Indian child born in the 90s and 2000s remembersRelationship lessons from Riteish Deshmukh and Genelia D’Souza that couples can learnHow to know if fish is fresh: 5 simple signs that can save you from buying stale seafoodWhat happens to your body when you eat chickpeas every day for a month123Hot PicksSIRBlake LivelyGurgaon EncounterCM VijayAlex PereiraPM ModiNico HischierStrait of HormuzSimone BilesTop TrendingGurgaon MonsoonAMU Seerat CertificateTelangana Techie Wife MurderFIFA World Cup 2026Weather TodayTS EAMCET Phase 1 seat allotmentRamesh MhatreDelhi NCR rainGurgaon EncounterIran war


Indian tourist drowns while swimming in Nepal's Phewa Lake
Representative image (PTI file)

NEW DELHI: A 28-year-old Indian tourist from Bihar died after drowning in Nepal’s Phewa Lake in Pokhara, police said on Friday.The deceased was identified as Rohit Kumar, who had travelled to Pokhara with four friends. The incident took place on Thursday evening after the group visited the Tal Barahi Temple, located on an island in the lake.According to the district police office, Kaski, the group had docked their boat at the temple when Rohit and one of his friends decided to swim in the lake. During the swim, Rohit reportedly sank into the water and went missing.A disaster management team led by armed police force assistant Sub Inspector Devendra KC, deployed from the Phewa Watch and Rescue Tower, launched a search operation immediately after receiving information about the incident.Rohit was rescued at around 5 pm by a team of the armed police force, Kaski district police spokesperson Birendra Kumar Paswan said.He was rushed to the Western Regional Hospital in Pokhara, where he succumbed during treatment, police said.Authorities are investigating the incident.



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Abdullah said he had given the Centre time to fulfil its promise of restoring statehood after his government took office, but claimed that “the reality is that they want to keep the situation like this”. NEW DELHI: Jammu and Kashmir chief minister Omar Abdullah on Saturday stepped up his demand for the restoration of statehood, urging the Centre not to mistake his government’s patience for weakness and asking it to clearly define what it means by the “appropriate time” for restoring the Union Territory’s full status.Addressing a grand workers’ convention at the mausoleum of his grandparents in Hazratbal on the 26th death anniversary of his grandmother, Akbar Jehan, Abdullah said his party had deliberately chosen dialogue over confrontation but warned that restraint should not be seen as surrender.Abdullah said he had given the Centre time to fulfil its promise of restoring statehood after his government took office, but claimed that “the reality is that they want to keep the situation like this”.He alleged that the elected government was being prevented from functioning effectively, accusing the BJP-led Centre of governing Jammu and Kashmir through the Lieutenant Governor. “Why did you (let us) form the government if you will not allow it to function? What is the benefit? Then you should not have conducted the elections,” he said.Calling for clarity, Abdullah asked the Centre to explain what constituted the “appropriate time” for restoring statehood. “I ask them, for God’s sake, how will we know that the appropriate time has come. What do I and my colleagues have to do to reach that appropriate time,” he said.He also questioned whether the Centre’s definition of the “appropriate time” depended on the BJP coming to power in Jammu and Kashmir. Referring to voter participation in parliamentary and assembly elections, he asked how many more elections people would have to contest in the hope that statehood would eventually be restored.While saying his government also wanted local bodies and panchayat elections to be held, Abdullah asserted that the Jammu and Kashmir government would decide the “appropriate time” for conducting those polls, adding that the Centre had turned the people’s patience, decency and silence into “a joke”.Get the latest India news and live updates. Download the TOI App.About the AuthorTOI News DeskThe TOI News Desk comprises a dedicated and tireless team of journalists who operate around the clock to deliver the most current and comprehensive news and updates to the readers of The Times of India worldwide. With an unwavering commitment to excellence in journalism, our team is at the forefront of gathering, verifying, and presenting breaking news, in-depth analysis, and insightful reports on a wide range of topics. The TOI News Desk is your trusted source for staying informed and connected to the ever-evolving global landscape, ensuring that our readers are equipped with the latest developments that matter most.”Read MoreEnd of ArticleFollow Us On Social MediaVideosSonam Wangchuk Rejects ‘Modern Gandhi’ Label As Hunger Strike Enters Fourteenth Day In DelhiSupriya Sule Dismisses Pawar-Shinde Meeting Row, Calls It A ‘Storm In A Tea Cup’ Amid SpeculationINS Mahendragiri Joins Indian Navy, Boosting Maritime Power Amid Indo-Pacific Challenges | WatchHighway Blocked, Resignations Threatened As BJP Faces Backlash Over Ticket Choice In MPNEET Paper Leak Traced To Contracted Paper Setters, Charge Sheet Likely This Month | WatchIndia, New Zealand Grows Ties to Strategic Partnership; Aim to Double Trade to ₹35,000 Crore by 2030″J&K Is Part Of India”: Indian Diplomat Objects To Map Row At Dhaka Foreign Policy EventSupreme Court Drama: Petitioner Abuses CJI, Throws Papers; No Contempt Action TakenDevendra Fadnavis Clarifies ‘Bhade Ke Tattu’ Remark, Says He Will Call Critics ‘Hired Fools’Amit Shah Announces Smart Border Vision With Four-Pronged Security Grid123PhotostoriesStylish Shubman Gill joins Anjali Sachin Tendulkar at Wimbledon 2026; fans ask, ‘Where is Sara?’World’s 10 most populous cities in 2026 every traveller should know7 foods that feed good gut bacteria better than curd5 DIY haircare ingredients that may be causing more hair fall than you thinkAnanya Panday ditched conventional Wimbledon whites for a chic red Ralph Lauren dress that turned every headEating these 8 foods excessively may contribute to hair fall10 things every Indian child born in the 90s and 2000s remembersRelationship lessons from Riteish Deshmukh and Genelia D’Souza that couples can learnHow to know if fish is fresh: 5 simple signs that can save you from buying stale seafoodWhat happens to your body when you eat chickpeas every day for a month123Hot PicksSIRBlake LivelyGurgaon EncounterCM VijayAlex PereiraPM ModiNico HischierStrait of HormuzSimone BilesTop TrendingGurgaon MonsoonAMU Seerat CertificateTelangana Techie Wife MurderFIFA World Cup 2026Weather TodayTS EAMCET Phase 1 seat allotmentRamesh MhatreDelhi NCR rainGurgaon EncounterIran war

Abdullah said he had given the Centre time to fulfil its promise of restoring statehood after his government took office, but claimed that “the reality is that they want to keep the situation like this”. NEW DELHI: Jammu and Kashmir chief minister Omar Abdullah on Saturday stepped up his demand for the restoration of statehood, urging the Centre not to mistake his government’s patience for weakness and asking it to clearly define what it means by the “appropriate time” for restoring the Union Territory’s full status.Addressing a grand workers’ convention at the mausoleum of his grandparents in Hazratbal on the 26th death anniversary of his grandmother, Akbar Jehan, Abdullah said his party had deliberately chosen dialogue over confrontation but warned that restraint should not be seen as surrender.Abdullah said he had given the Centre time to fulfil its promise of restoring statehood after his government took office, but claimed that “the reality is that they want to keep the situation like this”.He alleged that the elected government was being prevented from functioning effectively, accusing the BJP-led Centre of governing Jammu and Kashmir through the Lieutenant Governor. “Why did you (let us) form the government if you will not allow it to function? What is the benefit? Then you should not have conducted the elections,” he said.Calling for clarity, Abdullah asked the Centre to explain what constituted the “appropriate time” for restoring statehood. “I ask them, for God’s sake, how will we know that the appropriate time has come. What do I and my colleagues have to do to reach that appropriate time,” he said.He also questioned whether the Centre’s definition of the “appropriate time” depended on the BJP coming to power in Jammu and Kashmir. Referring to voter participation in parliamentary and assembly elections, he asked how many more elections people would have to contest in the hope that statehood would eventually be restored.While saying his government also wanted local bodies and panchayat elections to be held, Abdullah asserted that the Jammu and Kashmir government would decide the “appropriate time” for conducting those polls, adding that the Centre had turned the people’s patience, decency and silence into “a joke”.Get the latest India news and live updates. Download the TOI App.About the AuthorTOI News DeskThe TOI News Desk comprises a dedicated and tireless team of journalists who operate around the clock to deliver the most current and comprehensive news and updates to the readers of The Times of India worldwide. With an unwavering commitment to excellence in journalism, our team is at the forefront of gathering, verifying, and presenting breaking news, in-depth analysis, and insightful reports on a wide range of topics. The TOI News Desk is your trusted source for staying informed and connected to the ever-evolving global landscape, ensuring that our readers are equipped with the latest developments that matter most.”Read MoreEnd of ArticleFollow Us On Social MediaVideosSonam Wangchuk Rejects ‘Modern Gandhi’ Label As Hunger Strike Enters Fourteenth Day In DelhiSupriya Sule Dismisses Pawar-Shinde Meeting Row, Calls It A ‘Storm In A Tea Cup’ Amid SpeculationINS Mahendragiri Joins Indian Navy, Boosting Maritime Power Amid Indo-Pacific Challenges | WatchHighway Blocked, Resignations Threatened As BJP Faces Backlash Over Ticket Choice In MPNEET Paper Leak Traced To Contracted Paper Setters, Charge Sheet Likely This Month | WatchIndia, New Zealand Grows Ties to Strategic Partnership; Aim to Double Trade to ₹35,000 Crore by 2030″J&K Is Part Of India”: Indian Diplomat Objects To Map Row At Dhaka Foreign Policy EventSupreme Court Drama: Petitioner Abuses CJI, Throws Papers; No Contempt Action TakenDevendra Fadnavis Clarifies ‘Bhade Ke Tattu’ Remark, Says He Will Call Critics ‘Hired Fools’Amit Shah Announces Smart Border Vision With Four-Pronged Security Grid123PhotostoriesStylish Shubman Gill joins Anjali Sachin Tendulkar at Wimbledon 2026; fans ask, ‘Where is Sara?’World’s 10 most populous cities in 2026 every traveller should know7 foods that feed good gut bacteria better than curd5 DIY haircare ingredients that may be causing more hair fall than you thinkAnanya Panday ditched conventional Wimbledon whites for a chic red Ralph Lauren dress that turned every headEating these 8 foods excessively may contribute to hair fall10 things every Indian child born in the 90s and 2000s remembersRelationship lessons from Riteish Deshmukh and Genelia D’Souza that couples can learnHow to know if fish is fresh: 5 simple signs that can save you from buying stale seafoodWhat happens to your body when you eat chickpeas every day for a month123Hot PicksSIRBlake LivelyGurgaon EncounterCM VijayAlex PereiraPM ModiNico HischierStrait of HormuzSimone BilesTop TrendingGurgaon MonsoonAMU Seerat CertificateTelangana Techie Wife MurderFIFA World Cup 2026Weather TodayTS EAMCET Phase 1 seat allotmentRamesh MhatreDelhi NCR rainGurgaon EncounterIran war

Vamsikrishna 0
Median wealth of Indians are increasing If the UBS Global Wealth Report 2026 is anything to go by, acche din has arrived for a growing slice of Indians who are fast moving up the social ladder. India added 31,033 new US-dollar millionaires in 2025, more than twice mainland China’s 14,079. India’s millionaire count rose 3.4% in the year against China’s 0.3%, though China is working off a far bigger base. For all the talk of the dragon breathing fire while the elephant lags on infrastructure and industrial heft, this is one scorecard where India comes out ahead. But the shape of that wealth carries a pattern policymakers will want to watch, because even as Indians get richer, they still don’t store their wealth the way the West does.UBS defines wealth as financial assets plus real assets, principally housing, minus debt. Measured that way, only 25.8% of India’s gross personal wealth sits in financial assets, against 78.9% in the US, 68.9% in Japan, 54.9% in South Korea and 51.9% in mainland China. India is close to the bottom of the table on this count.How the data has changedChina still has a far larger millionaire base. UBS estimates over 5.3 million dollar millionaires there, against India’s roughly 944,000, with the US in a league of its own at more than 23.6 million. But in 2025, India minted more new dollar millionaires than China, Russia, South Korea, Germany and Italy. India beats ChinaThat is a sharp shift from the previous cycle, though UBS cautions against reading too much into such comparisons because its methodology has changed. In 2024, the US added 379,000 dollar millionaires, or more than 1,000 a day, and mainland China added 141,000, or over 386 a day, while India added around 39,000 in the year.A second yardstick tells a similar story. The Mercedes-Benz Hurun India Wealth Report 2025 estimated the number of millionaire families in India at 871,700, up from 458,000 in 2021 and 159,900 in 2017, with Mumbai alone accounting for 142,000, followed by New Delhi at 68,200 and Bengaluru at 31,600. Hurun counts families and UBS counts individuals, so the totals aren’t directly comparable, but the trends run in the same direction. The millionaire class is expanding fast, but remains concentrated in a few cities. India nearing 1 million millionaires How Indians are differentHere, the Indian wealth story diverges from richer financial economies. The Indian wealthy are far more attached to real estate than their peers in the West. The habit is old and well documented, an RBI-linked household finance study found that the average Indian household held 77% of its assets in real estate, 11% in gold, 7% in durable goods and just 5% in financial assets. In that sense, UBS’s 2026 finding confirms a well-established trend.The World Gold Council estimates that Indian households sit on as much as 25,000 tonnes of gold, held not only as an investment but also as wedding heirlooms, emergency collateral and what many regard as an inflation hedge. Gold and real estate, especially in posh locations, are also visible markers of upward mobility. For many, being seen as rich is as important as being rich. India is rich but not liquid Equities have gone more mainstream on the back of SIPs, mutual funds, demat accounts and the post-pandemic retail rush, but UBS figures show it is still early days for those instruments. Fresh savings continue to flow more into tangible assets. In FY24, household net financial savings came to 5.3% of GDP while savings in physical assets rose to 13.5%.The preference isn’t costless, though the comparison depends heavily on the period chosen. Official housing-price data points to modest national gains. National Housing Bank study puts India’s housing price index CAGR at 4.75% over 2013Q2–2024Q3, while residential rental yields have generally stayed modest, in the 2–6% range. Gold did well too, compounding at roughly 9–11% a year over the decade on most estimates, before the 2025–26 price spike pushed returns even higher.Equities, however, have generally rewarded financialisation more strongly over long periods, with Nifty 50 total returns in the low double digits and midcap indices higher. A house in the right Tier-1 pocket may have done far better than the national average, but a typical property-heavy portfolio has often seen lesser returns. At 8.2% of gross wealth, India’s household debt sits below mainland China’s 10.6%, the US’s 10.9%, Japan’s 11.9%, Australia’s 18%, the UK’s 20% and Brazil’s 23.4%. Prima facie, it is reassuring that Indians aren’t overleveraged, but coupled with India’s thin financial-asset share, it points to wealth that is deeply concentrated and locked mostly away from market instruments. India’s wealth is low-debt Very high inequalityThe inequality data points to a similar picture. UBS puts India’s wealth Gini at 0.74, close to the US’s 0.77 and well above mainland China’s 0.60. A Gini score of 0 indicates perfect equality, while 1 indicates extreme inequality, so India’s 0.74 is fairly high by UBS’s metric.As UBS chief economist Paul Donovan notes in the report, people tend to judge their wealth relative to others rather than in absolute terms, so many don’t feel rich even when they are better off than before. For many, Sharma ji ka ladka in the neighbourhood is always one notch higher on the social-mobility ladder. Yet there is hard data to show that Indians are doing better, and even beating the global average. UBS notes India is among the few markets where median wealth has climbed roughly 20% since 2020, while many others saw it fall. Stark inequalityFor policymakers, the stakes are obvious. A more financialised base of household wealth would deepen capital markets, put retirement planning on firmer ground and ease the economy’s overdependence on property. The economic historian Joel Mokyr, interviewed in the same report, makes the case that money follows opportunity, if the conditions are right and the idea is good, he argues, capital will flow to it.India’s challenge is the reverse of a capital shortage. The money is already here, sitting in gold and brick. Whether a new crop of affluent Indians breaks the pattern of yore will be a trend worth following.Get the latest India news and live updates. Download the TOI App.About the AuthorArghya Prasun RoychowdhuryInterested in politics, policy, data and cricket.End of ArticleFollow Us On Social MediaVideosSupriya Sule Dismisses Pawar-Shinde Meeting Row, Calls It A ‘Storm In A Tea Cup’ Amid SpeculationINS Mahendragiri Joins Indian Navy, Boosting Maritime Power Amid Indo-Pacific Challenges | WatchHighway Blocked, Resignations Threatened As BJP Faces Backlash Over Ticket Choice In MPNEET Paper Leak Traced To Contracted Paper Setters, Charge Sheet Likely This Month | WatchIndia, New Zealand Grows Ties to Strategic Partnership; Aim to Double Trade to ₹35,000 Crore by 2030″J&K Is Part Of India”: Indian Diplomat Objects To Map Row At Dhaka Foreign Policy EventSupreme Court Drama: Petitioner Abuses CJI, Throws Papers; No Contempt Action TakenDevendra Fadnavis Clarifies ‘Bhade Ke Tattu’ Remark, Says He Will Call Critics ‘Hired Fools’Amit Shah Announces Smart Border Vision With Four-Pronged Security Grid40-Foot Illegal Pipeline Linked To IOCL Oil Network Found In Rajasthan; Police Probe Oil Theft123Photostories5 DIY haircare ingredients that may be causing more hair fall than you thinkAnanya Panday ditched conventional Wimbledon whites for a chic red Ralph Lauren dress that turned every headEating these 8 foods excessively may contribute to hair fall10 things every Indian child born in the 90s and 2000s remembersRelationship lessons from Riteish Deshmukh and Genelia D’Souza that couples can learnHow to know if fish is fresh: 5 simple signs that can save you from buying stale seafoodWhat happens to your body when you eat chickpeas every day for a monthFrom Samosa to Bread Pakoda: Popular deep-fried snacks of India and their calorie count you should knowTop 6 most visited national parks in the USA every nature lover should experience once in their lifetimeHow Chanel No. 5 got its famous name: The story behind the iconic fragrance123Hot PicksSIRBlake LivelyGurgaon EncounterCM VijayAlex PereiraPM ModiNico HischierStrait of HormuzSimone BilesTop TrendingGurgaon MonsoonAMU Seerat CertificateTelangana Techie Wife MurderFIFA World Cup 2026Weather TodayTS EAMCET Phase 1 seat allotmentRamesh MhatreDelhi NCR rainGurgaon EncounterIran war

Median wealth of Indians are increasing If the UBS Global Wealth Report 2026 is anything to go by, acche din has arrived for a growing slice of Indians who are fast moving up the social ladder. India added 31,033 new US-dollar millionaires in 2025, more than twice mainland China’s 14,079. India’s millionaire count rose 3.4% in the year against China’s 0.3%, though China is working off a far bigger base. For all the talk of the dragon breathing fire while the elephant lags on infrastructure and industrial heft, this is one scorecard where India comes out ahead. But the shape of that wealth carries a pattern policymakers will want to watch, because even as Indians get richer, they still don’t store their wealth the way the West does.UBS defines wealth as financial assets plus real assets, principally housing, minus debt. Measured that way, only 25.8% of India’s gross personal wealth sits in financial assets, against 78.9% in the US, 68.9% in Japan, 54.9% in South Korea and 51.9% in mainland China. India is close to the bottom of the table on this count.How the data has changedChina still has a far larger millionaire base. UBS estimates over 5.3 million dollar millionaires there, against India’s roughly 944,000, with the US in a league of its own at more than 23.6 million. But in 2025, India minted more new dollar millionaires than China, Russia, South Korea, Germany and Italy. India beats ChinaThat is a sharp shift from the previous cycle, though UBS cautions against reading too much into such comparisons because its methodology has changed. In 2024, the US added 379,000 dollar millionaires, or more than 1,000 a day, and mainland China added 141,000, or over 386 a day, while India added around 39,000 in the year.A second yardstick tells a similar story. The Mercedes-Benz Hurun India Wealth Report 2025 estimated the number of millionaire families in India at 871,700, up from 458,000 in 2021 and 159,900 in 2017, with Mumbai alone accounting for 142,000, followed by New Delhi at 68,200 and Bengaluru at 31,600. Hurun counts families and UBS counts individuals, so the totals aren’t directly comparable, but the trends run in the same direction. The millionaire class is expanding fast, but remains concentrated in a few cities. India nearing 1 million millionaires How Indians are differentHere, the Indian wealth story diverges from richer financial economies. The Indian wealthy are far more attached to real estate than their peers in the West. The habit is old and well documented, an RBI-linked household finance study found that the average Indian household held 77% of its assets in real estate, 11% in gold, 7% in durable goods and just 5% in financial assets. In that sense, UBS’s 2026 finding confirms a well-established trend.The World Gold Council estimates that Indian households sit on as much as 25,000 tonnes of gold, held not only as an investment but also as wedding heirlooms, emergency collateral and what many regard as an inflation hedge. Gold and real estate, especially in posh locations, are also visible markers of upward mobility. For many, being seen as rich is as important as being rich. India is rich but not liquid Equities have gone more mainstream on the back of SIPs, mutual funds, demat accounts and the post-pandemic retail rush, but UBS figures show it is still early days for those instruments. Fresh savings continue to flow more into tangible assets. In FY24, household net financial savings came to 5.3% of GDP while savings in physical assets rose to 13.5%.The preference isn’t costless, though the comparison depends heavily on the period chosen. Official housing-price data points to modest national gains. National Housing Bank study puts India’s housing price index CAGR at 4.75% over 2013Q2–2024Q3, while residential rental yields have generally stayed modest, in the 2–6% range. Gold did well too, compounding at roughly 9–11% a year over the decade on most estimates, before the 2025–26 price spike pushed returns even higher.Equities, however, have generally rewarded financialisation more strongly over long periods, with Nifty 50 total returns in the low double digits and midcap indices higher. A house in the right Tier-1 pocket may have done far better than the national average, but a typical property-heavy portfolio has often seen lesser returns. At 8.2% of gross wealth, India’s household debt sits below mainland China’s 10.6%, the US’s 10.9%, Japan’s 11.9%, Australia’s 18%, the UK’s 20% and Brazil’s 23.4%. Prima facie, it is reassuring that Indians aren’t overleveraged, but coupled with India’s thin financial-asset share, it points to wealth that is deeply concentrated and locked mostly away from market instruments. India’s wealth is low-debt Very high inequalityThe inequality data points to a similar picture. UBS puts India’s wealth Gini at 0.74, close to the US’s 0.77 and well above mainland China’s 0.60. A Gini score of 0 indicates perfect equality, while 1 indicates extreme inequality, so India’s 0.74 is fairly high by UBS’s metric.As UBS chief economist Paul Donovan notes in the report, people tend to judge their wealth relative to others rather than in absolute terms, so many don’t feel rich even when they are better off than before. For many, Sharma ji ka ladka in the neighbourhood is always one notch higher on the social-mobility ladder. Yet there is hard data to show that Indians are doing better, and even beating the global average. UBS notes India is among the few markets where median wealth has climbed roughly 20% since 2020, while many others saw it fall. Stark inequalityFor policymakers, the stakes are obvious. A more financialised base of household wealth would deepen capital markets, put retirement planning on firmer ground and ease the economy’s overdependence on property. The economic historian Joel Mokyr, interviewed in the same report, makes the case that money follows opportunity, if the conditions are right and the idea is good, he argues, capital will flow to it.India’s challenge is the reverse of a capital shortage. The money is already here, sitting in gold and brick. Whether a new crop of affluent Indians breaks the pattern of yore will be a trend worth following.Get the latest India news and live updates. Download the TOI App.About the AuthorArghya Prasun RoychowdhuryInterested in politics, policy, data and cricket.End of ArticleFollow Us On Social MediaVideosSupriya Sule Dismisses Pawar-Shinde Meeting Row, Calls It A ‘Storm In A Tea Cup’ Amid SpeculationINS Mahendragiri Joins Indian Navy, Boosting Maritime Power Amid Indo-Pacific Challenges | WatchHighway Blocked, Resignations Threatened As BJP Faces Backlash Over Ticket Choice In MPNEET Paper Leak Traced To Contracted Paper Setters, Charge Sheet Likely This Month | WatchIndia, New Zealand Grows Ties to Strategic Partnership; Aim to Double Trade to ₹35,000 Crore by 2030″J&K Is Part Of India”: Indian Diplomat Objects To Map Row At Dhaka Foreign Policy EventSupreme Court Drama: Petitioner Abuses CJI, Throws Papers; No Contempt Action TakenDevendra Fadnavis Clarifies ‘Bhade Ke Tattu’ Remark, Says He Will Call Critics ‘Hired Fools’Amit Shah Announces Smart Border Vision With Four-Pronged Security Grid40-Foot Illegal Pipeline Linked To IOCL Oil Network Found In Rajasthan; Police Probe Oil Theft123Photostories5 DIY haircare ingredients that may be causing more hair fall than you thinkAnanya Panday ditched conventional Wimbledon whites for a chic red Ralph Lauren dress that turned every headEating these 8 foods excessively may contribute to hair fall10 things every Indian child born in the 90s and 2000s remembersRelationship lessons from Riteish Deshmukh and Genelia D’Souza that couples can learnHow to know if fish is fresh: 5 simple signs that can save you from buying stale seafoodWhat happens to your body when you eat chickpeas every day for a monthFrom Samosa to Bread Pakoda: Popular deep-fried snacks of India and their calorie count you should knowTop 6 most visited national parks in the USA every nature lover should experience once in their lifetimeHow Chanel No. 5 got its famous name: The story behind the iconic fragrance123Hot PicksSIRBlake LivelyGurgaon EncounterCM VijayAlex PereiraPM ModiNico HischierStrait of HormuzSimone BilesTop TrendingGurgaon MonsoonAMU Seerat CertificateTelangana Techie Wife MurderFIFA World Cup 2026Weather TodayTS EAMCET Phase 1 seat allotmentRamesh MhatreDelhi NCR rainGurgaon EncounterIran war

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NEW DELHI: Congress general secretary and Punjab in-charge Bhupesh Baghel on Saturday held a meeting with party leaders considered close to former chief minister Charanjit Singh Channi amid the ongoing rift in the party over its state leadership.This comes after Channi, along with several Congress workers, stayed away from a meeting with Baghel after he was overlooked by the party and Amarinder Singh Raja Warring was appointed Punjab Congress chief.Senior party leaders like Sukhjinder Singh Randhawa, Bharat Bhushan Ashu and Tript Rajinder Singh Bajwa attended the meeting. Leader of opposition and senior party leader Partap Singh Bajwa, who was invited by Rana Gurjit Singh, and former deputy chief minister O P Singh were also present at the meeting.’Will safeguard everyone’s interests’After the meeting concluded, Baghel said every leader agreed that the party should abide by the decision of the high command. He also assured that concerns raised by the party workers would be conveyed to the party high command.”I met and spoke with all our colleagues, and they shared their views with me. Everyone agrees that the party should abide by the decision of the high command, and there is no objection to that. Everyone stands united. There were a few issues that our colleagues raised. I assured all of them that, as the General Secretary in charge, I will safeguard everyone’s interests,” Baghel said.”If someone is a deserving and winnable candidate, they will certainly be given a ticket. I have given them that assurance. Our colleagues have raised certain concerns, and I will convey all of them to the party high command,” he added.Dismissing speculation over a possible change in the Punjab Congress leadership, Baghel said there was no discussion regarding the replacement of Punjab Congress president Amarinder Singh Raja Warring.”No such talk took place,” he said, adding, “All is well.”‘Tel dekhenge, tel ki daar dekhenge’Earlier in the day, Channi fueled speculation with his cryptic remarks ahead of the meeting. “Baaki tel dekhenge, tel ki daar dekhenge (wait and watch),” he said.Asked if Warring was acceptable to them as the state Congress president, Channi said everything would be discussed in the meeting.”We have just arrived for the meeting. Let us go inside first. We will sit down and hold detailed discussions there. After that, we will assess the situation and decide the next course of action,” he said.In an X post on Friday evening, Channi wrote, “United for Punjab. We have invited Punjab Congress in-charge Bhupesh Baghel ji on July 11 to place before him the sentiments of Congress workers and the people of Punjab.”Interestingly, Warring was not part of Saturday’s meeting with Baghel.When asked before the meeting if the Channi camp had not invited Warring, senior leader and MP Sukhjinder Randhawa said, “He (Warring) can better reply whether he was not invited or he is not coming.”When asked about his absence from the meeting, Warring said from another venue, “The party’s general secretary in-charge meets everyone. It is not necessary that all meetings have to happen in the presence of the state unit president.”When asked if the Punjab Congress would see unity, Warring quipped, “This meeting is about that.”This comes after the Congress high command announced a major organisational reshuffle in Punjab, retaining Warring as Punjab Pradesh Congress Committee (PPCC) president while appointing Channi as chairman of the Campaign Committee, a move widely seen as an attempt to balance competing factions within the state unit.According to a statement issued by AICC general secretary K C Venugopal, Congress president Mallikarjun Kharge approved the appointments with immediate effect. Under the new structure, Channi will head the campaign committee, Vijay Inder Singla will chair the election management and coordination committee, Sukhjinder Singh Randhawa will lead the core committee, and Amar Singh will head the manifesto committee.Later, Channi called a crucial meeting at his residence in Morinda, where several leaders, including stalwarts such as Bharat Bhushan Ashu, were in attendance and voiced support for his leadership. The leaders urged the party high command to reconsider the recently announced organisational appointments in Punjab, asserting that the Congress would return to power under Channi’s leadership.Get the latest India news and live updates. Download the TOI App.About the AuthorTOI News DeskThe TOI News Desk comprises a dedicated and tireless team of journalists who operate around the clock to deliver the most current and comprehensive news and updates to the readers of The Times of India worldwide. With an unwavering commitment to excellence in journalism, our team is at the forefront of gathering, verifying, and presenting breaking news, in-depth analysis, and insightful reports on a wide range of topics. The TOI News Desk is your trusted source for staying informed and connected to the ever-evolving global landscape, ensuring that our readers are equipped with the latest developments that matter most.”Read MoreEnd of ArticleFollow Us On Social MediaVideosSupriya Sule Dismisses Pawar-Shinde Meeting Row, Calls It A ‘Storm In A Tea Cup’ Amid SpeculationINS Mahendragiri Joins Indian Navy, Boosting Maritime Power Amid Indo-Pacific Challenges | WatchHighway Blocked, Resignations Threatened As BJP Faces Backlash Over Ticket Choice In MPNEET Paper Leak Traced To Contracted Paper Setters, Charge Sheet Likely This Month | WatchIndia, New Zealand Grows Ties to Strategic Partnership; Aim to Double Trade to ₹35,000 Crore by 2030″J&K Is Part Of India”: Indian Diplomat Objects To Map Row At Dhaka Foreign Policy EventSupreme Court Drama: Petitioner Abuses CJI, Throws Papers; No Contempt Action TakenDevendra Fadnavis Clarifies ‘Bhade Ke Tattu’ Remark, Says He Will Call Critics ‘Hired Fools’Amit Shah Announces Smart Border Vision With Four-Pronged Security Grid40-Foot Illegal Pipeline Linked To IOCL Oil Network Found In Rajasthan; Police Probe Oil Theft123PhotostoriesWorld’s 10 most populous cities in 2026 every traveller should know7 foods that feed good gut bacteria better than curd5 DIY haircare ingredients that may be causing more hair fall than you thinkAnanya Panday ditched conventional Wimbledon whites for a chic red Ralph Lauren dress that turned every headEating these 8 foods excessively may contribute to hair fall10 things every Indian child born in the 90s and 2000s remembersRelationship lessons from Riteish Deshmukh and Genelia D’Souza that couples can learnHow to know if fish is fresh: 5 simple signs that can save you from buying stale seafoodWhat happens to your body when you eat chickpeas every day for a monthFrom Samosa to Bread Pakoda: Popular deep-fried snacks of India and their calorie count you should know123Hot PicksSIRBlake LivelyGurgaon EncounterCM VijayAlex PereiraPM ModiNico HischierStrait of HormuzSimone BilesTop TrendingGurgaon MonsoonAMU Seerat CertificateTelangana Techie Wife MurderFIFA World Cup 2026Weather TodayTS EAMCET Phase 1 seat allotmentRamesh MhatreDelhi NCR rainGurgaon EncounterIran war

NEW DELHI: Congress general secretary and Punjab in-charge Bhupesh Baghel on Saturday held a meeting with party leaders considered close to former chief minister Charanjit Singh Channi amid the ongoing rift in the party over its state leadership.This comes after Channi, along with several Congress workers, stayed away from a meeting with Baghel after he was overlooked by the party and Amarinder Singh Raja Warring was appointed Punjab Congress chief.Senior party leaders like Sukhjinder Singh Randhawa, Bharat Bhushan Ashu and Tript Rajinder Singh Bajwa attended the meeting. Leader of opposition and senior party leader Partap Singh Bajwa, who was invited by Rana Gurjit Singh, and former deputy chief minister O P Singh were also present at the meeting.’Will safeguard everyone’s interests’After the meeting concluded, Baghel said every leader agreed that the party should abide by the decision of the high command. He also assured that concerns raised by the party workers would be conveyed to the party high command.”I met and spoke with all our colleagues, and they shared their views with me. Everyone agrees that the party should abide by the decision of the high command, and there is no objection to that. Everyone stands united. There were a few issues that our colleagues raised. I assured all of them that, as the General Secretary in charge, I will safeguard everyone’s interests,” Baghel said.”If someone is a deserving and winnable candidate, they will certainly be given a ticket. I have given them that assurance. Our colleagues have raised certain concerns, and I will convey all of them to the party high command,” he added.Dismissing speculation over a possible change in the Punjab Congress leadership, Baghel said there was no discussion regarding the replacement of Punjab Congress president Amarinder Singh Raja Warring.”No such talk took place,” he said, adding, “All is well.”‘Tel dekhenge, tel ki daar dekhenge’Earlier in the day, Channi fueled speculation with his cryptic remarks ahead of the meeting. “Baaki tel dekhenge, tel ki daar dekhenge (wait and watch),” he said.Asked if Warring was acceptable to them as the state Congress president, Channi said everything would be discussed in the meeting.”We have just arrived for the meeting. Let us go inside first. We will sit down and hold detailed discussions there. After that, we will assess the situation and decide the next course of action,” he said.In an X post on Friday evening, Channi wrote, “United for Punjab. We have invited Punjab Congress in-charge Bhupesh Baghel ji on July 11 to place before him the sentiments of Congress workers and the people of Punjab.”Interestingly, Warring was not part of Saturday’s meeting with Baghel.When asked before the meeting if the Channi camp had not invited Warring, senior leader and MP Sukhjinder Randhawa said, “He (Warring) can better reply whether he was not invited or he is not coming.”When asked about his absence from the meeting, Warring said from another venue, “The party’s general secretary in-charge meets everyone. It is not necessary that all meetings have to happen in the presence of the state unit president.”When asked if the Punjab Congress would see unity, Warring quipped, “This meeting is about that.”This comes after the Congress high command announced a major organisational reshuffle in Punjab, retaining Warring as Punjab Pradesh Congress Committee (PPCC) president while appointing Channi as chairman of the Campaign Committee, a move widely seen as an attempt to balance competing factions within the state unit.According to a statement issued by AICC general secretary K C Venugopal, Congress president Mallikarjun Kharge approved the appointments with immediate effect. Under the new structure, Channi will head the campaign committee, Vijay Inder Singla will chair the election management and coordination committee, Sukhjinder Singh Randhawa will lead the core committee, and Amar Singh will head the manifesto committee.Later, Channi called a crucial meeting at his residence in Morinda, where several leaders, including stalwarts such as Bharat Bhushan Ashu, were in attendance and voiced support for his leadership. The leaders urged the party high command to reconsider the recently announced organisational appointments in Punjab, asserting that the Congress would return to power under Channi’s leadership.Get the latest India news and live updates. Download the TOI App.About the AuthorTOI News DeskThe TOI News Desk comprises a dedicated and tireless team of journalists who operate around the clock to deliver the most current and comprehensive news and updates to the readers of The Times of India worldwide. With an unwavering commitment to excellence in journalism, our team is at the forefront of gathering, verifying, and presenting breaking news, in-depth analysis, and insightful reports on a wide range of topics. The TOI News Desk is your trusted source for staying informed and connected to the ever-evolving global landscape, ensuring that our readers are equipped with the latest developments that matter most.”Read MoreEnd of ArticleFollow Us On Social MediaVideosSupriya Sule Dismisses Pawar-Shinde Meeting Row, Calls It A ‘Storm In A Tea Cup’ Amid SpeculationINS Mahendragiri Joins Indian Navy, Boosting Maritime Power Amid Indo-Pacific Challenges | WatchHighway Blocked, Resignations Threatened As BJP Faces Backlash Over Ticket Choice In MPNEET Paper Leak Traced To Contracted Paper Setters, Charge Sheet Likely This Month | WatchIndia, New Zealand Grows Ties to Strategic Partnership; Aim to Double Trade to ₹35,000 Crore by 2030″J&K Is Part Of India”: Indian Diplomat Objects To Map Row At Dhaka Foreign Policy EventSupreme Court Drama: Petitioner Abuses CJI, Throws Papers; No Contempt Action TakenDevendra Fadnavis Clarifies ‘Bhade Ke Tattu’ Remark, Says He Will Call Critics ‘Hired Fools’Amit Shah Announces Smart Border Vision With Four-Pronged Security Grid40-Foot Illegal Pipeline Linked To IOCL Oil Network Found In Rajasthan; Police Probe Oil Theft123PhotostoriesWorld’s 10 most populous cities in 2026 every traveller should know7 foods that feed good gut bacteria better than curd5 DIY haircare ingredients that may be causing more hair fall than you thinkAnanya Panday ditched conventional Wimbledon whites for a chic red Ralph Lauren dress that turned every headEating these 8 foods excessively may contribute to hair fall10 things every Indian child born in the 90s and 2000s remembersRelationship lessons from Riteish Deshmukh and Genelia D’Souza that couples can learnHow to know if fish is fresh: 5 simple signs that can save you from buying stale seafoodWhat happens to your body when you eat chickpeas every day for a monthFrom Samosa to Bread Pakoda: Popular deep-fried snacks of India and their calorie count you should know123Hot PicksSIRBlake LivelyGurgaon EncounterCM VijayAlex PereiraPM ModiNico HischierStrait of HormuzSimone BilesTop TrendingGurgaon MonsoonAMU Seerat CertificateTelangana Techie Wife MurderFIFA World Cup 2026Weather TodayTS EAMCET Phase 1 seat allotmentRamesh MhatreDelhi NCR rainGurgaon EncounterIran war

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Defence minister Rajnath Singh (PTI photo) NEW DELHI: Defence minister Rajnath Singh on Saturday specified the growing importance of the Indian Navy, saying recent global developments have once again proved that every nation needs a strong and responsive naval force to safeguard its interests.Speaking at the commissioning ceremony of INS Mahendragiri in Visakhapatnam, Rajnath said, “Recent events have once again demonstrated how essential a capable and responsive navy is for any nation.”Citing the Navy’s role during the recent conflict in West Asia, the defence minister praised its efforts under Operation Urja Suraksha. He said the operation ensured the safe passage of merchant vessels carrying vital cargo despite regional tensions.”After the conflict began in West Asia, the Indian Navy, through Operation Urja Suraksha, safely escorted 18 merchant vessels carrying essential cargo worth over 9,000 crore. This shows that our Navy is not just a fighting force but has also emerged as a strong guardian of India’s economic interests,” Rajnath said.The defence minister also stressed the strategic importance of the Indo-Pacific, saying the region has become the focus of global attention and that India has a key role to play in ensuring its stability and growth.”Today the eyes of the entire world are on the Indo-Pacific region, and India has a crucial role to play in this part of the world. Our Prime Minister has articulated a vision for this region: MAHA SAGAR (Mutual and Holistic Advancement for Security and Growth Across Regions),” he said.Emphasising India’s approach to regional cooperation, Rajnath added, “We seek security and development for everyone in the region. India has emerged as a net security provider and a trusted partner across the Indo-Pacific. Time and again, our Navy has demonstrated that it is the region’s most reliable partner. Whether it is conducting Humanitarian Assistance and Disaster Relief operations during natural disasters, taking action against maritime piracy, or safely evacuating Indian and friendly foreign nationals from countries in crisis, the Indian Navy has consistently served as both the first responder and the preferred security partner.”Turning to India’s defence manufacturing capabilities, Rajnath said every indigenously built warship strengthens the country’s technological expertise and industrial capacity.”Whenever we build an indigenous warship, we are not merely creating a new fighting platform. Our design expertise becomes more mature, our technological base grows stronger, and we develop a highly skilled workforce capable of building even more advanced warships for future generations,” he said.He said warship construction also creates a wider ecosystem of industries and skilled jobs, helping strengthen India’s maritime sector.”Constructing a warship is not just about building a ship; it also creates an entire industrial ecosystem around it. In the years ahead, we have numerous naval projects before us. Our goal is to make India a global hub for shipbuilding and maritime defence innovation. I am confident that, in the coming years, our country will establish a distinct identity among the world’s leading nations in this field,” Rajnath said.Get the latest India news and live updates. Download the TOI App.About the AuthorTOI News DeskThe TOI News Desk comprises a dedicated and tireless team of journalists who operate around the clock to deliver the most current and comprehensive news and updates to the readers of The Times of India worldwide. With an unwavering commitment to excellence in journalism, our team is at the forefront of gathering, verifying, and presenting breaking news, in-depth analysis, and insightful reports on a wide range of topics. The TOI News Desk is your trusted source for staying informed and connected to the ever-evolving global landscape, ensuring that our readers are equipped with the latest developments that matter most.”Read MoreEnd of ArticleFollow Us On Social MediaVideosSupriya Sule Dismisses Pawar-Shinde Meeting Row, Calls It A ‘Storm In A Tea Cup’ Amid SpeculationINS Mahendragiri Joins Indian Navy, Boosting Maritime Power Amid Indo-Pacific Challenges | WatchHighway Blocked, Resignations Threatened As BJP Faces Backlash Over Ticket Choice In MPNEET Paper Leak Traced To Contracted Paper Setters, Charge Sheet Likely This Month | WatchIndia, New Zealand Grows Ties to Strategic Partnership; Aim to Double Trade to ₹35,000 Crore by 2030″J&K Is Part Of India”: Indian Diplomat Objects To Map Row At Dhaka Foreign Policy EventSupreme Court Drama: Petitioner Abuses CJI, Throws Papers; No Contempt Action TakenDevendra Fadnavis Clarifies ‘Bhade Ke Tattu’ Remark, Says He Will Call Critics ‘Hired Fools’Amit Shah Announces Smart Border Vision With Four-Pronged Security Grid40-Foot Illegal Pipeline Linked To IOCL Oil Network Found In Rajasthan; Police Probe Oil Theft123PhotostoriesWorld’s 10 most populous cities in 2026 every traveller should know7 foods that feed good gut bacteria better than curd5 DIY haircare ingredients that may be causing more hair fall than you thinkAnanya Panday ditched conventional Wimbledon whites for a chic red Ralph Lauren dress that turned every headEating these 8 foods excessively may contribute to hair fall10 things every Indian child born in the 90s and 2000s remembersRelationship lessons from Riteish Deshmukh and Genelia D’Souza that couples can learnHow to know if fish is fresh: 5 simple signs that can save you from buying stale seafoodWhat happens to your body when you eat chickpeas every day for a monthFrom Samosa to Bread Pakoda: Popular deep-fried snacks of India and their calorie count you should know123Hot PicksSIRBlake LivelyGurgaon EncounterCM VijayAlex PereiraPM ModiNico HischierStrait of HormuzSimone BilesTop TrendingGurgaon MonsoonAMU Seerat CertificateTelangana Techie Wife MurderFIFA World Cup 2026Weather TodayTS EAMCET Phase 1 seat allotmentRamesh MhatreDelhi NCR rainGurgaon EncounterIran war

Defence minister Rajnath Singh (PTI photo) NEW DELHI: Defence minister Rajnath Singh on Saturday specified the growing importance of the Indian Navy, saying recent global developments have once again proved that every nation needs a strong and responsive naval force to safeguard its interests.Speaking at the commissioning ceremony of INS Mahendragiri in Visakhapatnam, Rajnath said, “Recent events have once again demonstrated how essential a capable and responsive navy is for any nation.”Citing the Navy’s role during the recent conflict in West Asia, the defence minister praised its efforts under Operation Urja Suraksha. He said the operation ensured the safe passage of merchant vessels carrying vital cargo despite regional tensions.”After the conflict began in West Asia, the Indian Navy, through Operation Urja Suraksha, safely escorted 18 merchant vessels carrying essential cargo worth over 9,000 crore. This shows that our Navy is not just a fighting force but has also emerged as a strong guardian of India’s economic interests,” Rajnath said.The defence minister also stressed the strategic importance of the Indo-Pacific, saying the region has become the focus of global attention and that India has a key role to play in ensuring its stability and growth.”Today the eyes of the entire world are on the Indo-Pacific region, and India has a crucial role to play in this part of the world. Our Prime Minister has articulated a vision for this region: MAHA SAGAR (Mutual and Holistic Advancement for Security and Growth Across Regions),” he said.Emphasising India’s approach to regional cooperation, Rajnath added, “We seek security and development for everyone in the region. India has emerged as a net security provider and a trusted partner across the Indo-Pacific. Time and again, our Navy has demonstrated that it is the region’s most reliable partner. Whether it is conducting Humanitarian Assistance and Disaster Relief operations during natural disasters, taking action against maritime piracy, or safely evacuating Indian and friendly foreign nationals from countries in crisis, the Indian Navy has consistently served as both the first responder and the preferred security partner.”Turning to India’s defence manufacturing capabilities, Rajnath said every indigenously built warship strengthens the country’s technological expertise and industrial capacity.”Whenever we build an indigenous warship, we are not merely creating a new fighting platform. Our design expertise becomes more mature, our technological base grows stronger, and we develop a highly skilled workforce capable of building even more advanced warships for future generations,” he said.He said warship construction also creates a wider ecosystem of industries and skilled jobs, helping strengthen India’s maritime sector.”Constructing a warship is not just about building a ship; it also creates an entire industrial ecosystem around it. In the years ahead, we have numerous naval projects before us. Our goal is to make India a global hub for shipbuilding and maritime defence innovation. I am confident that, in the coming years, our country will establish a distinct identity among the world’s leading nations in this field,” Rajnath said.Get the latest India news and live updates. Download the TOI App.About the AuthorTOI News DeskThe TOI News Desk comprises a dedicated and tireless team of journalists who operate around the clock to deliver the most current and comprehensive news and updates to the readers of The Times of India worldwide. With an unwavering commitment to excellence in journalism, our team is at the forefront of gathering, verifying, and presenting breaking news, in-depth analysis, and insightful reports on a wide range of topics. The TOI News Desk is your trusted source for staying informed and connected to the ever-evolving global landscape, ensuring that our readers are equipped with the latest developments that matter most.”Read MoreEnd of ArticleFollow Us On Social MediaVideosSupriya Sule Dismisses Pawar-Shinde Meeting Row, Calls It A ‘Storm In A Tea Cup’ Amid SpeculationINS Mahendragiri Joins Indian Navy, Boosting Maritime Power Amid Indo-Pacific Challenges | WatchHighway Blocked, Resignations Threatened As BJP Faces Backlash Over Ticket Choice In MPNEET Paper Leak Traced To Contracted Paper Setters, Charge Sheet Likely This Month | WatchIndia, New Zealand Grows Ties to Strategic Partnership; Aim to Double Trade to ₹35,000 Crore by 2030″J&K Is Part Of India”: Indian Diplomat Objects To Map Row At Dhaka Foreign Policy EventSupreme Court Drama: Petitioner Abuses CJI, Throws Papers; No Contempt Action TakenDevendra Fadnavis Clarifies ‘Bhade Ke Tattu’ Remark, Says He Will Call Critics ‘Hired Fools’Amit Shah Announces Smart Border Vision With Four-Pronged Security Grid40-Foot Illegal Pipeline Linked To IOCL Oil Network Found In Rajasthan; Police Probe Oil Theft123PhotostoriesWorld’s 10 most populous cities in 2026 every traveller should know7 foods that feed good gut bacteria better than curd5 DIY haircare ingredients that may be causing more hair fall than you thinkAnanya Panday ditched conventional Wimbledon whites for a chic red Ralph Lauren dress that turned every headEating these 8 foods excessively may contribute to hair fall10 things every Indian child born in the 90s and 2000s remembersRelationship lessons from Riteish Deshmukh and Genelia D’Souza that couples can learnHow to know if fish is fresh: 5 simple signs that can save you from buying stale seafoodWhat happens to your body when you eat chickpeas every day for a monthFrom Samosa to Bread Pakoda: Popular deep-fried snacks of India and their calorie count you should know123Hot PicksSIRBlake LivelyGurgaon EncounterCM VijayAlex PereiraPM ModiNico HischierStrait of HormuzSimone BilesTop TrendingGurgaon MonsoonAMU Seerat CertificateTelangana Techie Wife MurderFIFA World Cup 2026Weather TodayTS EAMCET Phase 1 seat allotmentRamesh MhatreDelhi NCR rainGurgaon EncounterIran war

Vamsikrishna 0