India better prepared to deal with US tapering: P Chidambaram

Attempting to soothe the stock markets, Finance Minister P Chidambaram today said India is better prepared to deal with the situation arising out of a cut in US bond purchases and markets have already factored in the impact of such a move.

"The government is of the view that the markets had already factored in the US Federal Reserve’s decisions and therefore is not likely to be surprised by these moderate changes," he said in a statement.

The Minister, who spoke to Reserve Bank Governor Raghuram Rajan in the morning about the impact of US tapering, said "we are better prepared than in May 2013 to deal with consequences, if any, of the US Federal Reserve’s decisions.

The BSE Sensex plunged by about 190 points in the early trade, while the rupee weakened to 62.44 to a dollar following the US Fed announcement to reduce the quantum of bond purchases.

The US Federal Reserve last night announced that it would reduce the monthly bond purchases to USD 75 billion from the existing level of USD 85 billion from January.

Chidambaram said: "This is a mild reduction and the US Federal Reserve has not announced any sequential reduction".

The US Federal Reserve, the Minister said, will "continue its purchases of treasury and agency mortgaged-backed securities and employ its other policy tools as appropriate, until the outlook for the labour market has improved substantially in the context of price stability".

The US Federal Reserve had first in May announced it will taper bond purchases, sending the markets world over in a tizzy. However, later it postponed the decision.

Captain Sunil James freed from Togo jail, to reach India today; family relieved

Indian sailor Captain Sunil James, who was arrested in July on charges of aiding pirates off the coast of Togo, was released in the wee hours of Thursday.

Captain James is set to leave for India later today after spending six months in jail in Togo.

Reacting to the development, External Affairs Minister Salman Khurshid said, "I am satisfied & happy, I am grateful to those who worked for his release."

The family of James also thanked the Prime Minister after shortly after getting the news of Captain James' release from Togo jail.

Earlier this month, the family members of Sunil James had met Prime Minister Manmohan Singh seeking his intervention in getting the sailor released to conduct the last rites of his 11-month-old son who died of septicaemia in a hospital on December 2.

However, it not yet clear whether the charges levelled against James have been completely dropped. James had filed an application asking to be released on parole to conduct the last rites of his son.

Ministry of External Affairs spokesperson Syed Akbaruddin said, "Securing Captain James release was really difficult. President of Togo intervened and ensured justice." Akbaruddin had on Wednesday said that India's High Commissoner in Accra met with President Gnassingbe of Togo seeking early release of James and other Indian sailors.

James had stopped at Togo to report an attack on his ship MT Ocean Centurion by pirates when he was arrested July 31, along with two other crew members, for allegedly aiding the pirates.

More: http://zeenews.india.com/news/nation/captain-sunil-james-freed-from-togo-jail-to-reach-india-today-family-relieved_897841.html

LIVE: Case against Devyani Khobragade should be withdrawn, says Salman Khurshid

1:49 pm: Won't tolerate injustice, says Raj Babbar

Congress spokesman Raj Babbar said India's message to the US is clear that we won't tolerate injustice meted out to our citizens.

1:28 pm: Case against Devyani should be withdrawn, says Khurshid

Maintaining a tough stand, External Affairs Minister Salman Khurshid said the case against Devyani should not be pursued and be withdrawn. Commenting on India-US ties, Khurshid noted that the relationship between the countries "has a lot of investment". It is "not an irreversible matter and we have to deal with it sensibly," added Khurshid. He has sought details of what has happened in the case of Khobragade in the US.

1:18 pm: India wants good ties with US, says Tharoor

Commenting on Devyani's issue, Union Minister Shashi Tharoor said though India wants good relations with the US since it is an important country, yet it won't accept this. Reiterating "reciprocity as the cardinal principle" of diplomatic relations, Tharoor said if the US does not have friendly spirit, then it is diffciult to see the same in us.

1:02 pm: IACC seeks unconditional apology from US

The Indo-American Chamber of Commerce has strongly objected to the "humiliating treatment" meted out to Khobragade by the US law enforcement agencies.

"The Chamber considers the action unacceptable and feels that the US government should tender an unconditional apology for the humiliation of the diplomat," said Nanik Rupani, president of Chamber's West India Council, in a statement here.

12:40 pm: India says US didn't respond to any of its requests on Khobragade's domestic help

In a statement that was issued in response to a media query, the Indian embassy in Washington has said that along with the Ministry of External Affairs, it took up the matter of Khobragade's domestic assistant Sangeeta Richard with the US State Department and the US embassy in New Delhi.

The US, however, did not respond.

The statement added that the Indian embassy had asked for US' assistance in tracing Richard, action against her for blackmailing the Indian diplomat, assistance in repatriating her and arresting her for robbing cash, a mobile phone and documents from the Indian diplomat.

11:56 pm: US apology will be satisfying, says Nath

An apology from America, acceptance of their fault is what we will be satisfied with, said Parliamentary Affairs Minister Kamal Nath.

11.15 am: Protest outside US consulate in Hyderabad

Activists belonging to Left parties and All India Peace and Solidarity Organisation (AIPSO) gathered near the US consulate in Hyderabad to protest against the US government's handling of the Devyani issue.

Holding banners that read, "Uncle Sam don't act ugly with India", protesters shouted slogans against the US administration.

11.00 am: Ensure Devyani comes back with dignity, BJP tells govt

The BJP said the government must keep up the pressure against the United States. "Rajya Sabha has expressed their anguish and has condemned what the US has done to Devyani, who was under diplomatic immunity," BJP spokesperson Prakash Javadekar said.

"Government has said charges will be dropped and will be brought back with full dignity and honour... They must now walk the talk and nothing less will be acceptable by the people."

10.50 am: Salman Khurshid may speak to John Kerry

With India hinting at a deeper conspiracy behind Indian diplomat Devyani Khobragade's arrest in the United States, Secretary of State John Kerry is expected to speak to External Affairs Minister Salman Khurshid on Thursday evening to clarify on the issue.

Confirming the development, Khurshid told reporters, "Yes it is possible. I will have word with Kerry on Thursday evening. This matter should be resolved. We will do whatever more is needed to be done."

7:45 am: US prosecutor defends actions against Khobragade

Manhattan's high profile India-born US attorney Preet Bhrara, also known as the "Sherriff of Wall Street", has defended his department's actions against an Indian diplomat sparking a diplomatic row between India and the US, insisting she was not handcuffed and was given due courtesies.

He also said the domestic help, Sangeeta Richard's family was "evacuated" from India to protect the "victim" as there were attempts to silence her and compel her to return to India.

But he confirmed that Khobragade was "fully searched" by a female deputy marshal in private as per "standard practice" for "every defendant, rich or poor, American or not."

Otherwise, she was treated very well and was even given coffee and allowed to make phone calls in a car for two hours to arrange for child care.

2:38 am: 'Kerry was aware of Khobragarde's arrest' US Secretary of State John Kerry was aware of the senior Indian diplomat's arrest.

"He (Kerry) was certainly aware, yes, absolutely. He's been kept up to speed on this case," State Department Deputy Spokesperson Marie Harf told reporters soon after informing them that Kerry spoke over telephone to the National Security Advisor Shivshankar Menon.

12.08 am: John Kerry expresses regret over treatment of Khobragade

US Secretary of State John Kerry called India's National Security Advisor Shiv Shankar Menon to express his "regret".

In a damage control exercise, Kerry also expressed his concern saying this "unfortunate public issue" of the arrest and strip search of Devyani Khobragade should not be allowed to hurt "our close and vital relationship with India".

Kerry "expressed his regret, as well as his concern that we not allow this unfortunate public issue to hurt our close and vital relationship with India," State Department spokesperson Marie Harf said in a readout of the conversation.

More: http://zeenews.india.com/news/nation/live-case-against-devyani-khobragade-should-be-withdrawn-says-salman-khurshid_897876.html

Captain Sunil James freed from Togo jail, to reach India today; family relieved

Indian sailor Captain Sunil James, who was arrested in July on charges of aiding pirates off the coast of Togo, was released in the wee hours of Thursday.

Captain James is set to leave for India later today after spending six months in jail in Togo.

Reacting to the development, External Affairs Minister Salman Khurshid said, "I am satisfied & happy, I am grateful to those who worked for his release."

The family of James also thanked the Prime Minister after shortly after getting the news of Captain James' release from Togo jail.

Earlier this month, the family members of Sunil James had met Prime Minister Manmohan Singh seeking his intervention in getting the sailor released to conduct the last rites of his 11-month-old son who died of septicaemia in a hospital on December 2.

However, it not yet clear whether the charges levelled against James have been completely dropped. James had filed an application asking to be released on parole to conduct the last rites of his son.

Ministry of External Affairs spokesperson Syed Akbaruddin said, "Securing Captain James release was really difficult. President of Togo intervened and ensured justice." Akbaruddin had on Wednesday said that India's High Commissoner in Accra met with President Gnassingbe of Togo seeking early release of James and other Indian sailors.

James had stopped at Togo to report an attack on his ship MT Ocean Centurion by pirates when he was arrested July 31, along with two other crew members, for allegedly aiding the pirates.