New Delhi, June 30 (IANS) Mahindra Group Chairman Anand Mahindra said on Tuesday that India Inc will rise to the occasion to counter "the Chinese provocation" that not many Indian goods are manufactured.
"I suspect this comment might well be the most effective & motivating rallying cry that India Inc. has ever received. Thank you for the provocation. We will rise to the occasion," Mahindra said on Twitter.
Mahindra was referring to a tweet in the name of Hu Xijin. "Well, even if Chinese people want to boycott Indian products, they can't really find many Indian goods. Indian friends, you need to have some things that are more important than nationalism," he said in a tweet.
The Modi government on Monday banned 59 Chinese apps including TikTok, WeChat and UC Browser and Xiaomi's Mi Community over national security concerns amid strained India-China bilateral relations after the death of 20 Indian soldiers in the Galwan Valley clash with Chinese PLA troops in eastern Ladakh.
The Ministry of Electronics and Information Technology (MeitY) has issued a list of 59 Chinese apps that are now banned in the country.
"These measures have been undertaken since there is credible information that these apps are engaged in activities which are prejudicial to sovereignty and integrity of India, defence of India, security of state and public order," said a MeitY statement.
Indians have rushed to download social app Chingari, a desi alternative to Chinese TikTok, which is witnessing nearly 1 lakh downloads and over 2 million views per hour since the government banned 59 Chinese apps, last night.
New York, July 10 (IANS) Wall Street's major averages finished mixed on Thursday as investors pored through the newly-released weekly report on US jobless claims.
The Dow Jones Industrial Average shed 361.19 points, or 1.39 per cent, to 25,706.09. The S&P 500 was down 17.89 points, or 0.56 per cent, to 3,152.05. The Nasdaq Composite Index increased 55.25 points, or 0.53 per cent, to 10,547.75, Xinhua reported.
Nine of the 11 primary S&P 500 sectors closed lower, with energy and financials down 4.04 per cent and 2.33 per cent, respectively, leading the laggards. Technology and consumer discretionary climbed 0.15 per cent and 0.11 per cent, respectively, the only two gainers.
Meanwhile, U.S.-listed Chinese companies traded mostly higher, with eight of the top 10 stocks by weight in the S&P US Listed China 50 index ending the day on an upbeat note.
On the data front, US initial jobless claims, a rough way to measure layoffs, registered 1.314 million in the week ending July 4, following a revised 1.413 million in the prior week, as the pandemic continues to weigh on the labor market, the Department of Labor reported on Thursday.
More than 3 million confirmed Covid-19 cases have been reported in the United States, with nearly 133,000 deaths, as of Thursday afternoon, according to the Center for Systems Science and Engineering at Johns Hopkins University.