Kashmir dispute, communal strife 'risks' to India investment

May 21, 2017

New Delhi, May 21: A number of large foreign funds, managing trillions of dollars of investor assets globally, have flagged 'persisting religious conflicts' and 'Kashmir dispute' as potential risks to their investments in India, saying such "tensions" could destabilise the Indian economy.

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JPMorgan, one of the largest wealth managers in the world with asset under management of over USD 1.7 trillion, alone has flagged these "religious and border disputes" regarding investments in India in at least eight regulatory filings made by its various funds so far this month.

Besides, a number of other funds, including the India Fund managed by Aberdeen Asset Management which has over USD 380 billion of assets under management, have listed similar "risks" in their regulatory filings made with the US Securities and Exchange Commission (SEC).

Other such funds include Eaton Vance Greater India Fund, Mathews International Funds, Alps Funds (Financial Investors Trust), Franklin Templeton International Trust, Global X Funds and iShares Trust (managed by BlackRock Fund Advisors).

Besides, Wasatch Funds Trust, Arthur J Gallagher & Co and Causeway Capital Management Trust have also flagged similar concerns. Similar concerns have been flagged by a few funds regarding Pakistan also.

When contacted, senior officials at some of these funds and other experts said such 'risk factors' follow a generic pattern in regulatory filings by various companies and investors and not much should be read into them, but they admitted that religious conflicts and Kashmir dispute remain an overhang.

They refused to be named citing regulatory issues and due to "sensitivities" involved in such matters.

While cross-border tension continues in Kashmir region, the Indian government has been trying to send across a positive message to the world and some saw hosting of the GST Council meeting in Srinagar last week as a step in that direction.

In a filing made by JPMorgan Trust II on May 18, the fund said, "Political and economic structures in India are undergoing significant evolution and rapid development, and may lack the social, political and economic stability characteristic of the US."

It further said, "Religious and border disputes persist in India. Moreover, India has from time to time experienced civil unrest and hostilities with neighbouring countries such as Pakistan. The Indian government has confronted separatist movements in several Indian states.

"The longstanding dispute with Pakistan over the bordering Indian state of Jammu and Kashmir, a majority of whose population is Muslim, remains unresolved. If the Indian government is unable to control the violence and disruption associated with these tensions, the results could destabilise the economy and consequently, adversely affect the Fund's investments."

Similar filings have been made this month by funds like JPMorgan Trust I, JP Morgan Exchange Traded Fund Trust, JP Morgan Mutual Fund Investment Trust and JP Morgan Insurance Trust.

A few US-listed Indian and India-focussed companies have also made similar observations in their filings during 2017. These include HDFC Bank, Cognizant, Cancer Genetics, WNS Holdings, Genpact and MoneyOnMobile Inc.

In the 'risk factors' listed in one of its regulatory filings, HDFC Bank said the risks to its financial results would include "instability or uncertainty in India and the other countries... caused by any factor including terrorist attacks in India, the US or elsewhere...".

The other risk factors listed by HDFC Bank include "tensions between India and Pakistan related to the Kashmir region or between India and China, military armament or social unrest in any part of India", among various other political and economic risks.

Political system stable in India, but religious conflicts remain overhang.

In its SEC filing, Eaton Vance Greater India Fund said Indian population is comprised of diverse religious and linguistic groups, but despite this diversity, India has "one of the more stable political systems among the world's developing nations".

"However, periodic sectarian conflict among India's religious and linguistic groups could adversely affect Indian businesses, temporarily halting work of institutions, or undermine or distract from government efforts to liberalise the Indian economy".

In its filing, Matthews International Funds also said that religious and border disputes persist in India and escalating tensions between India and Pakistan could impact the broader region.

MoneyMobile also talked abut the Kashmir dispute remaining unresolved and the potential risks to its businesses.

"Also, India has seen an increase in politically motivated insurgencies and a fairly active communist following. Any hostilities or civil unrest could adversely influence the Indian economy and, as a result, negatively affect businesses," it added.

Cancer Genetics said a portion of its assets and operations are in India and we are subject to regulatory, economic, political and other uncertainties in India.

The India Fund said India's economic development has exceeded forecast with faster growth than China's, but "heightened tensions with Pakistan over Kashmir, Trump's US presidential election victory and the Fed's increased hawkishness for 2017 also roiled investor sentiment".

IT major Cognizant, which has a substantial portion of its assets and operations in India, said in one of its SEC filings that the potential for hostilities between India and Pakistan "has been high in light of tensions related to recent terrorist incidents in India and the unsettled nature of the regional geopolitical environment, including events in and related to Afghanistan, Iraq and Syria".

Genpact said Southern Asia has, from time to time, experienced instances of civil unrest and hostilities among neighbouring countries, including India and Pakistan.

Alps Funds also talked about persisting religious and border disputes including on Kashmir issue and said these factors are extremely difficult, if not impossible, to predict and take into account with respect to the Fund's investments.

Franklin India Growth Fund said its investments are subject to "much greater risks of adverse events that occur in India and the surrounding regions, and may experience greater volatility than a fund that is more broadly diversified geographically".

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News Network
December 16,2025

jordan.jpg

Prime Minister Narendra Modi on Monday held talks with Jordan’s King Abdullah II in Amman, during which the two leaders discussed ways to further strengthen bilateral relations, with the Prime Minister outlining an eight-point vision covering key areas of cooperation.

Describing the meeting as “productive”, PM Modi said he shared a roadmap focused on trade and economy, fertilisers and agriculture, information technology, healthcare, infrastructure, critical and strategic minerals, civil nuclear cooperation, and people-to-people ties.

In a post on social media platform X, the Prime Minister praised King Abdullah II’s personal commitment to advancing India–Jordan relations, particularly as both countries mark the 75th anniversary of the establishment of diplomatic ties this year.

“Held productive discussions with His Majesty King Abdullah II in Amman. His personal commitment towards vibrant India-Jordan relations is noteworthy. This year, we are celebrating the 75th anniversary of our bilateral diplomatic relations,” PM Modi said.

The meeting took place at the Al Husseiniya Palace, where the two leaders also exchanged views on regional and global issues of mutual interest. According to the Ministry of External Affairs (MEA), both sides agreed to further deepen cooperation in areas including trade and investment, defence and security, counter-terrorism and de-radicalisation, fertilisers and agriculture, infrastructure, renewable energy, tourism, and heritage.

The MEA said both leaders reaffirmed their united stand against terrorism.

PM Modi arrived in Amman earlier on Monday and was received by Jordanian Prime Minister Jafar Hassan, who accorded him a formal welcome. Following the talks, King Abdullah II hosted a banquet dinner in honour of the Prime Minister, reflecting the warmth of bilateral ties.

Jordan is the first leg of PM Modi’s three-nation tour. From Amman, the Prime Minister will travel to Ethiopia at the invitation of Prime Minister Abiy Ahmed Ali, marking his first official visit to the African nation. The tour will conclude with a visit to Oman.

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News Network
December 13,2025

New Delhi: School-going children are picking up drug and smoking habits and engaging in consumption of alcohol, with the average age of introduction to such harmful substances found to be around 13 years, suggesting a need for earlier interventions as early as primary school, a multi-city survey by AIIMS-Delhi said.

The findings also showed substance use increased in higher grades, with grade XI/XII students two times more likely to report use of substances when compared with grade VIII students. This emphasised the importance of continued prevention and intervention through middle and high school.

The study led by Dr Anju Dhawan of AIIMS's National Drug Dependence Treatment Centre, published in the National Medical Journal of India this month, looks at adolescent substance use across diverse regions.

The survey included 5,920 students from classes 8, 9, 11 and 12 in urban government, private and rural schools across 10 cities -- Bengaluru, Chandigarh, Delhi, Dibrugarh, Hyderabad, Imphal, Jammu, Lucknow, Mumbai, and Ranchi. The data were collected between May 2018 and June 2019.

The average age of initiation for any substance was 12.9 (2.8) years. It was lowest for inhalants (11.3 years) followed by heroin (12.3 years) and opioid pharmaceuticals (without prescription; 12.5 years).

Overall, 15.1 per cent of participants reported lifetime use, 10.3 per cent reported past year use, and 7.2 per cent reported use in the past month of any substance, the study found.

The most common substances used in the past year, after tobacco (4 per cent) and alcohol (3.8 per cent), were opioids (2.8 per cent), followed by cannabis (2 per cent) and inhalants (1.9 per cent). Use of non-prescribed pharmaceutical opioids was most common among opioid users (90.2 per cent).

On being asked, 'Do you think this substance is easily available for a person of your age' separately for each substance category, nearly half the students (46.3 per cent) endorsed that tobacco products and more than one-third of the students (36.5 per cent) agreed that a person of their age can easily procure alcohol products.

Similarly, for Bhang (21.9 per cent), ganja/charas (16.1 per cent), inhalants (15.2 per cent), sedatives (13.7 per cent), opium and heroin (10 per cent each), the students endorsed that these can be easily procured.

About 95 per cent of the children, irrespective of their grade, agreed with the statement that 'drug use is harmful'.

The rates of substance use (any) among boys were significantly higher than those of girls for substance use (ever), use in the past year and use in the past 30 days. Compared to grade VIII students, grade IX students were more likely, and grade XI/XII students were twice as likely to have used any substance (ever).

The likelihood of past-year use of any substance was also higher for grade IX students and for grade XI/XII students as compared to grade VIII students.

About 40 per cent of students mentioned that they had a family member who used tobacco or alcohol each. The use of cannabis (any product) and opioid (any product) by a family member was reported by 8.2 per cent and 3.9 per cent of students, respectively, while the use of other substances, such as inhalants/sedatives by family was 2-3 per cent, the study found.

A relatively smaller percentage of students reported use of tobacco or alcohol among peers as compared to among family members, while a higher percentage reported inhalants, sedatives, cannabis or opioid use among peers.

Children using substances (past year) compared to non-users reported significantly higher any substance use by their family members and peers.

There were 25.7 per cent students who replied 'yes' to the question 'conflicts/fights often occur in your family'. Most students also replied affirmatively to 'family members are aware of how their time is being spent' and 'damily members are aware of with whom they spend their time'.

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News Network
December 20,2025

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At least seven elephants were killed and one calf injured after a herd collided with the Sairang-New Delhi Rajdhani Express in Assam's Hojai on Saturday morning, leading to disruption of rail services. 

The Sairang-New Delhi Rajdhani Express struck a herd of elephants, resulting in the derailment of the locomotive and five coaches. No passenger casualties or injuries were reported, officials said.

The New Delhi-bound train met with the accident around 2.17 am, PTI reported. The Sairang-New Delhi Rajdhani Express connects Mizoram's Sairang (near Aizawl) to Anand Vihar Terminal (Delhi). 

Railway has issued helpline numbers at the Guwahati Railway Station:-

•    0361-2731621
•    0361-2731622
•    0361-2731623

The accident site is located about 126 km from Guwahati. Following the incident, accident relief trains and railway officials rushed to the spot to initiate rescue operations.

Train Services Disrupted

Sources said that due to the derailment and elephant body parts scattered on the tracks, train services to Upper Assam and other parts of the Northeast were affected.

Passengers from the affected coaches were temporarily accommodated in vacant berths available in other coaches of the train. Once the train reaches Guwahati, additional coaches will be attached to accommodate all passengers, after which the train will resume its onward journey.

The incident occurred at a location that is not a designated elephant corridor. The loco pilot, upon spotting the herd on the tracks, applied emergency brakes. Despite this, the elephants dashed into the train, leading to the collision and derailment.

Last month, an elephant was killed after being hit by a train in Dhupguri in West Bengal's Jalpaiguri district. The incident took place on November 30. 

The adult elephant was killed on the spot, and a calf was discovered lying injured beside the tracks. 

Over 70 Elephants Killed In Train Collisions Over Last 5 Years

At least 79 elephants have died in train collisions across the country in the last five years, the Environment Ministry had informed Parliament in August.

In a written reply in the Lok Sabha, Minister of State for Environment Kirti Vardhan Singh had said the figure is based on reports from state governments and Union Territory administrations for the period 2020-21 to 2024-25.

He said that the ministry does not maintain consolidated data on the deaths of other wild animals on railway tracks, including in designated elephant corridors.

Singh confirmed that three elephants, including a mother and her calf, were killed on July 18 this year after being hit by a speeding express train on the Kharagpur-Tatanagar section in West Bengal's Paschim Midnapore district. The incident took place near Banstala between Jhargram and Banstala stations.

The minister said several measures have been taken jointly by the Environment Ministry and the Railways to prevent such accidents.

These include imposing speed restrictions in elephant habitats, pilot projects such as seismic sensor-based detection of elephants near tracks and construction of underpasses, ramps and fencing at vulnerable points.

The Wildlife Institute of India, in consultation with the ministry and other stakeholders, has also issued guidelines titled 'Eco-friendly Measures to Mitigate Impacts of Linear Infrastructure' to help agencies design railways and other projects in ways that reduce human-animal conflicts.

Singh added that capacity-building workshops were conducted for railway officials at the Wildlife Institute of India in 2023 and 2024 to raise awareness on elephant conservation and protection.

A detailed report titled 'Suggested Measures to Mitigate Elephant & Other Wildlife Train Collisions on Vulnerable Railway Stretches in India' had also been prepared after surveys across 127 railway stretches covering 3,452 km.

Of these, 77 stretches spanning 1,965 km in 14 states were prioritised for mitigation, with site-specific interventions suggested. 

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