ST. PETERSBURG — Speaking Friday at an economic forum once set up to court Western companies and showcase Russia as a lucrative investment destination, President Vladimir Putin declared that stagnation and recession in the economy would not be allowed after experts and high-ranking officials warned of a slowdown. The St. Petersburg International Economic Forum, which a few years ago hosted energy giants such as BP and Total and announced billion-dollar deals like the Nord Stream 2 pipeline, has had sparse attendance from Western investors this year. It is an indication of the drastic transformation that the Russian economy has undergone since the full-scale invasion of Ukraine in 2022 as it has shifted to a war footing and Western companies have left in droves.

“Some specialists and experts point to the risks of stagnation and even recession. This, of course, should not be allowed in any case,” Putin said during the plenary session, noting that Russian economic growth for the first four months of the year had been 1.5 percent. “We must achieve moderate inflation and low unemployment.”

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With an economy firmly focused on the war, Putin said that Russia needs to move away from dividing companies “into purely defense-industrial and enterprises operating exclusively in the civil segment.” He called for combining the defense industry with the civil sector.

Putin also maintained his hard line on the Ukraine war. “The Russian and Ukrainian people are one people, [so] in this sense, all of Ukraine is ours,” he said, adding that “wherever a Russian soldier’s foot steps, that’s ours.”

Early in the forum, Economy Minister Maxim Reshetnikov warned that the nation’s economy was headed for a recession.

“The numbers indicate cooling, but all our numbers are a rearview mirror,” he was quoted as saying by the RBC business daily. “Judging by the way businesses currently feel and the indicators, we are already, it seems to me, on the verge of going into a recession.”

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“I said that we are on the verge,” he added, when asked how this could be avoided. “Then everything depends on our decisions.”

Sky-high interest rates of around 21 percent have failed to rein in rampant inflation at around 10 percent, and business owners have warned they are facing bankruptcy and being forced to delay investment plans as they can’t afford to raise capital or pay their debts.

In previous years at the forum, Putin held public meetings with foreign investors, but no such events were announced this year. Asked whether that format had been abandoned, Kremlin spokesman Dmitry Peskov said Friday that the Russian leadership had moved these contacts behind closed doors to protect the businesses from sanctions.

“The president is having contacts with foreign businessmen on the sidelines of the forum. In particular, yesterday meetings took place. We simply don’t announce them to protect those representatives from crazy lawlessness they are facing in their countries,” Peskov said, referring to the international sanctions placed on Russia in response to its invasion of Ukraine.

An apparent thaw in U.S.-Russia relations during the first few months of Donald Trump’s presidency fueled rumors that Western companies might be returning to Russia, sparking optimism in the business community that at least some sanctions could be lifted soon. Such hopes began to fade by summer, however, as it became increasingly clear that a resolution to the war in Ukraine would not come within Trump’s promised 24 hours or even his first 100 days in office.

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At the forum, the chairman of Russia’s VTB Bank, Andrey Kostin, said Western companies are unlikely to return anytime soon. “So far, I do not see any companies that could return to Russia in the current geopolitical situation,” Kostin told the Russian newspaper Izvestia, blaming U.S. and European Union policies that “pressure” businesses to stay away.

The E.U. has no intention of softening its stance on Russia, Kostin said, and the Trump administration is still “thinking about where to go next.”

Speaking at another panel, Deputy Finance Minister Ivan Chebeskov said that so far no foreign company has applied to come back to Russia and that the government is still receiving dozens of requests each month from businesses seeking to leave.

While there has been a slight slowdown in departures amid the diplomatic rapprochement with the United States, Chebeskov said that Russia’s toughening exit rules — including forcing foreign companies to sell their assets at no more than 40 percent of market value — had done little to stop the exodus.

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What began as excitement around Trump’s presidency has given way to a more protectionist mood, with officials saying that the country cannot rely on foreign money to advance its economy. Russian entrepreneurs, who have quickly moved to fill the gaps left by departing Western firms, are now pushing for policies that would make it harder for those businesses to return and reclaim their former positions.

Oleg Paroev, the CEO of Vkusno i Tochka (Tasty and That’s It), a fast-food chain that replaced McDonald’s in Russia, has been spearheading the lobbying effort to keep Western competition at bay.

At a meeting with Putin in late May, Paroev complained that the return of the original Big Mac would undo the investment and work his company put into rebranding. Putin promised to support the company and joked that while the “not entirely scrupulous partners” technically have the right to buy the company back, “only cowards pay their debts.”

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Efforts to improve relations between the United States and Russia appear to have hit a setback after the Americans postponed talks to address long-standing issues between the countries. Peskov in his news conference admitted that these negotiations were moving “sluggishly.”

“There’s a view among American diplomats that progress on clearing out these irritants must be directly tied to resolving the situation in Ukraine,” he said, reiterating Russia’s stance that engagement with the U.S. should be separate from negotiations on the war in Ukraine. “We, on the contrary, believe that improving bilateral relations will help a speedier settlement in Ukraine.”

Kirill Dmitriev, the head of Russia’s sovereign wealth fund, who has been offering joint deals on rare earth minerals and cooperation in the Arctic to the U.S., said his discussions with American business circles are ongoing, “but of course they will only come to fruition after some political progress” on the negotiations track.

Russia’s President Vladimir Putin delivers a speech during a plenary session of the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia, June 20, 2025. REUTERS/Anton Vaganov Purchase Licensing Rights , opens new tab

Item 1 of 3 Russia’s President Vladimir Putin delivers a speech during a plenary session of the St. Petersburg International Economic Forum (SPIEF) in Saint Petersburg, Russia, June 20, 2025. REUTERS/Anton Vaganov

Summary

Companies Putin says Russia must not let economy slip into recession

Tells officials to ensure balanced growth for cooling economy

Pressure mounting on central bank to cut rates more quickly

Sberbank says it has financed no new projects this year

ST PETERSBURG, Russia, June 20 (Reuters) – Russian President Vladimir Putin on Friday dismissed claims the war in Ukraine is devastating the Russian economy, citing continued growth, low debt and economic diversification as signs of resilience, while business leaders voiced concern about the economy’s health.

Speaking at the closing session of the Saint Petersburg Economic Forum, Putin responded to a moderator’s statement that credible reports suggest the war is “killing” the Russian economy. “As a well-known writer once said: ‘The reports of my death are greatly exaggerated,’” Putin said, quoting Mark Twain.

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Putin said 43% of Russia’s GDP is now unrelated to the energy or defence sectors, underscoring efforts to diversify the economy.

The three-day forum featured intense debate over the risks of economic stagnation. Inflation remains high at 9.59% annually, more than double the central bank’s 4% target, but it has been gradually easing since late April, according to the economy ministry.

In October, the Bank of Russia raised its key interest rate to its highest level since the early 2000s to combat inflation. Earlier this month, it cut the rate by one percentage point to 20%.

But the Kremlin has criticised the move as insufficient, warning that the economy could cool too rapidly after two years of war-driven growth.

“Our most important task is to ensure the economy’s transition to a balanced growth trajectory,” Putin said in a keynote address. He defined balanced growth as moderate inflation, low unemployment and sustained economic momentum.

“At the same time, some specialists and experts point to the risks of stagnation and even recession. This should not be allowed under any circumstances,” Putin said.

Striking a more pessimistic tone, Economy Minister Maxim Reshetnikov warned on Thursday that Russia is teetering on the edge of a recession. He said future monetary policy decisions will determine whether the country avoids a downturn.

Central Bank Governor Elvira Nabiullina, who has led the institution through multiple crises since 2013, has faced criticism over high interest rates and currency volatility. She remains in her post with Putin’s personal support

Deputy Prime Minister Alexander Novak said: “It’s time to cut the rate and start heating up the economy.

Demand for credit is weak, said German Gref, CEO of Russia’s largest lender, Sberbank (SBER.MM) , opens new tab , and called for faster rate cuts.

“It is especially worrying that we, as the largest bank, which finances … almost 60% of all investment projects in the country, have not financed a single new project since the new year,” Gref said on Friday.

Alexey Mordashov, majority shareholder of steelmaker Severstal, warned of a looming credit crisis and rising bankruptcies. He noted that steel consumption fell 14% in the first five months of 2025 compared to the same period last year.

“This cooling is a serious problem right now,” Mordashov said. “Continuing with the current monetary policy could worsen these negative consequences.”

Reporting by Vladimir Soldatkin and Darya Korsunskaya; additional reporting by Anastasia Teterevleva; Writing by Alexander Marrow and Gleb Bryanski; Editing by Mark Trevelyan, Toby Chopra and Cynthia Osterman

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By contrast, he noted, business sentiment suggested very strongly that the economy is “on the brink of a recession.”

Putin pointed to statistics showing that gross domestic product is still growing — by 1.5 percent in the first four months of the year. However, analysts have pointed out that that is due entirely to ever-higher volumes of output from the defense sector to fight the war in Ukraine. Civil sectors of the economy have slowed sharply, as the government has ended various subsidy programs over the past year, notably for residential mortgages.

The government is being squeezed harder than at any time since the invasion by the fact that global prices for crude oil, exports of which generate a third of its revenue, have slumped to their lowest in over three years as Saudi Arabia and its Gulf allies opened a battle to win back global market share from higher-cost producers in the United States and elsewhere.

Putin’s public comments are often aimed at settling disputes between the various agencies, businesses and cliques that vie for influence in the Kremlin. In recent months, tension has become more obvious between big business and the central bank, which has had to raise interest rates to more than 20 percent to rein in the inflation caused by excessive government spending.

Putin, who has supported the central bank throughout, again referred to its policy as “responsible” on Friday. But he warned that bringing down inflation, which is still running at nearly 10 percent, was “far from the whole picture.”

“Our most important task this year is to transition the economy to balanced growth,” he said. “That is moderate inflation, and low employment, and the continuation of a positive economic dynamic. It’s important to keep in focus all the indicators of how our [various] sectors and companies are feeling.”

Putin gave no indication at the conference that economic problems were about to force any kind of conciliation with the West over the fate of Ukraine.

“I’ve often said that Russians and Ukraine are the same people,” he said in a panel discussion. “In that sense, all of Ukraine is ours.”

Wrap-up: Here are the top news stories of the day Judge orders Columbia University protester Mahmoud Khalil freed from detention

Apple sued by shareholders in proposed class action claiming it downplayed time needed to bring artifical intelligence features to Siri

US Supreme court declines to order Trump administration to quickly respond to appeal filed by toy company challenging tariffs

IMF staff and south Sudan reach staff-level agreement on a nine-month staff-monitored program

Afghanistan in talks with Russia to secure food supplies amid attacks on Iran, agriculture minister says

Putin: We don’t have any evidence that Ukraine is going to use a dirty bomb against Russia

India’s central bank cuts small finance banks’ lending requirement to priority sectors

Yashasvi Jaiswal hits century in the first match of the five-match series against England

Meta introducing Oakley Meta Glasses, a new category of performance AI glasses

India’s forex reserves rise to $698.95 billion, up $2.29 billion as of June 13

Gaza rescuers say 43 killed by Israeli forces

Prime Minister Narendra Modi lays foundation stone and inaugurates multiple development projects in Bihar

Judge orders Columbia University protester Mahmoud Khalil freed from detention A federal judge on Friday ordered the U.S. government to free former Columbia University graduate student Mahmoud Khalil from the immigration detention center where he has been held since early March while the Trump administration sought to deport him over his role in pro-Palestinian protests.

U.S. District Judge Michael Farbiarz announced the decision from the bench in New Jersey, responding to a request from Khalil’s lawyers to free him on bail or, at the very least, move him from a Louisiana jail to New Jersey so he can be closer to his wife and newborn son.

Khalil was the first arrest under President Donald Trump ’s crackdown on students who joined campus protests against Israel’s devastating war in Gaza. U.S. Secretary of State Marco Rubio has said Khalil must be expelled from the country because his continued presence could harm American foreign policy.

The judge ruled earlier that the government can’t continue to hold Khalil on those grounds, but the government argued the legal U.S. resident was instead being held based on allegations that he lied on his green card application. Khalil disputes the accusations that he wasn’t forthcoming on the application.

“It is highly, highly unusual to be seeking detention of a petitioner given the factual record of today,” Farbiarz said during the more than hourlong hearing that took place by phone.

In reaching his decision, he said Khalil is likely not a flight risk and “is not a danger to the community. Period, full stop.”

The judge noted Khalil is married to a U.S. citizen and has a newborn son who is also a U.S. citizen. He said Khalil is now clearly a public figure given his prominence during the campus protests and since his detainment.

(reports AP)

Apple sued by shareholders in proposed class action claiming it downplayed time needed to bring artifical intelligence features to Siri, court filing says reports Reuters

Buxar, Bihar: A car fell into the Ganga River after breaking the railing of the Veer Kunwar Singh Setu Bridge. Police and rescue teams are at the spot

Action has been taken against three illegal Madrassas in the Gaindi Khata area. They were issued notices, but they did not reply. Action has been taken because they were unregistered. So far, 85 Madrassas have been sealed in the entire district. Further action will be taken if anything comes to notice… Every Madrassa is given a notice and a chance to present their side. Action is being taken when they fail to provide proper papers – Haridwar SDM Jitendra Kumar on sealing of three illegal Madrassas

US Supreme court declines to order Trump administration to quickly respond to appeal filed by toy company challenging tariffs reports Reuters

Skipper Shubman Gill smashes his maiden red-ball overseas century against England in the first match of the five-match test series at Headingley, Leeds reports ANI

Putin: I think Russia will end the year with inflation of 7% reports Reuters

Putin, asked if Ukraine war is killing Russian economy: rumors of its death are exaggerated reports Reuters

IMF staff and south Sudan reach staff-level agreement on a nine-month staff-monitored program reports Reuters

Putin says he is worried when asked if he is concerned world is heading towards World War Three Russian President Vladimir Putin said on Friday that he was worried when asked if he was concerned that the world was heading towards World War Three.

Putin, speaking at an economic forum in St Petersburg, said there was a lot of potential for conflict in the world and that it was growing.

He mentioned Russia’s own war in Ukraine, the conflict between Israel and Iran, and said he was concerned by what was happening around nuclear facilities in Iran where Russian specialists are building two new nuclear reactors for Tehran.

“It is disturbing. I am speaking without any irony, without any jokes. Of course, there is a lot of conflict potential, it is growing, and it is right under our noses, and it affects us directly,” said Putin.

“And this requires, of course, not only our careful attention to the events taking place, but also the search for solutions, the search for solutions, preferably by peaceful means, in all directions.”

(reports Reuters)

Afghanistan in talks with Russia to secure food supplies amid attacks on Iran, agriculture minister says reports Reuters

Putin, on return of western companies to Russia: Those who left due to political pressure at home are not reliable reports Reuters

Putin: Russian companies should comply with buyback clauses in case foreign companies seek return reports Reuters

Putin: Russia welcomes foreign investment reports Reuters

Putin: Nationalization is not beneficial for Russian economy reports Reuters

Armenia PM and Turkey’s Erdogan start meeting: presidency Talks between Armenian Prime Minister Nikol Pashinyan and President Recep Tayyip Erdogan began in Istanbul Friday as part of what Yerevan has described as a “historic” step toward regional peace.

“The meeting has started,” the Turkish presidency said of the talks which began just before 7:00 pm (1600 GMT) at the Dolmabahce Palace on the banks of the Bosphorus.

(Source: AFP)

Putin: We don’t have any evidence that Ukraine is going to use a dirty bomb against Russia reports Reuters

Putin: If Ukraine ever did use a dirty bomb against Russia, it would probably be their last mistake reports Reuters

India, France hold talks at Paris Air Show; formally launch Rafale Marine programme for Indian Navy Indian defence delegation led by Joint Secretary and Acquisition Manager (Maritime Systems) Dinesh Kumar met with French defence officials at the Paris Air Show in France on Thursday, June 19. The French side was headed by French Director General of Armament Lt Gen Gael Diaz De Tuesta; The meeting between the two sides was also for the formal launch of the Rafale marine programme, which already equips the Indian Air Force: French Defence officials

2024 Morocco’s hottest year on record: meteorology agency The year 2024 was Morocco’s hottest on record, the North African country’s meteorological agency said on Friday, mirroring the record surface temperatures measured globally.

“The year 2024 stands out as the hottest ever recorded in Morocco,” the agency said in its annual report, citing “an increase in thermal anomalies, particularly during the autumn and winter seasons” with record temperatures such as the 47.6 degrees Celsius (117.7 Fahrenheit) registered in Marrakesh in July last year.

(reports AFP)

Putin says does ‘not rule out’ Russia taking Ukrainian city of Sumy Russian President Vladimir Putin said Friday he did not “rule out” his forces taking control of Ukraine’s northeastern city of Sumy as part of efforts to create a buffer zone along the border.

“We have no objective to take Sumy, but in principle I do not rule it out… They pose a constant threat to us, constantly shelling the border areas,” Putin told attendees at Russia’s flagship economic forum in Saint Petersburg.

(reports AFP)

Putin: That’s because Ukraine creates threats to Russia reports Reuters

Putin: We don’t have a task to take control over Ukraine’s Sumy, but I don’t rule it out reports Reuters

Putin: Ukrainian forces commited crimes against civilian population in Russia’s Kursk region reports Reuters

Putin: We are forced to set up security zone along the border with Ukraine reports Reuters

BSNL forays into 5G fixed wireless service reports PTI

Intercommunal attack kills at least 17 in southwest Chad: local officials reports AFP

Putin: Russia is not seeking Ukraine’s capitulation reports Reuters

Putin: Russia wants recognition of reality on the ground in ukraine reports Reuters

Today we talked to senior officials of the entire state and instructed them to assess the damage caused by this rain and the troubles faced by the people and inform us as soon as possible so that relief can be provided to all those people. We have also asked for a report on the bridges, etc, that have been broken or washed away, so that work can be done there as well – Jharkhand Chief Minister Hemant Soren

As of 5.45 pm, 231 DNA samples of the deceased have matched with their family members. Out of those 231 matched samples, 210 bodies have been handed over to their families. The families of 21 bodies are waiting for the DNA match of another member of their family. We are in contact with the families of 10 deceased, for them to come and get the body. Three bodies are waiting in the postmortem room for clearance from the airport… Out of this 210, bodies of 16 were transferred by air, and 194 by road – Ahmedabad Civil Hospital Superintendent Rakesh Joshi

India’s central bank cuts small finance banks’ lending requirement to priority sectors reports Reuters

US prepares action targeting allies’ chip plants in China reports Wall Street Journal

Yashasvi Jaiswal (100 not out) brings up his fifth Test ton as India get to 215 for 2 at tea on day 1 of the series opener against England in Leeds

Joint statement: If vessels fail to fly a valid flag in the Baltic sea and the North sea, we will take appropriate action within international law Reuters quoting Britain, Nordic-Baltic nations

Joint statement: We have agreed to further strengthen our cooperation and ensure a joint and coordinated approach to address Russia’s shadow fleet Reuters quoting Britain, Nordic-Baltic nations

Britain, Nordic-Baltic nations and others issue joint statement on measures to further counter Russia’s shadow fleet reports Reuters

Yashasvi Jaiswal hits century in the first match of the five-match series against England

AIFF President Kalyan Chaubey responds to Bhaichung Bhutia’s allegations. “We live in a democratic country where every citizen has the constitutional right to freedom of speech. As a member of the AIFF Executive Committee, Mr. Bhaichung Bhutia has access to an appropriate and empowered platform to express his views, raise concerns, and contribute constructively towards the development and performance of Indian football in the various AIFF Executive Committee meetings. However, it has been observed that since Mr. Bhaichung Bhutia’s defeat in the September 2022 elections, he has consistently and deliberately made baseless allegations and presented a distorted image of the AIFF. Such actions not only tarnish the reputation of the Federation, but also throw Indian football in a negative light on international platforms…” reads the statement.

Operation Sindoor is paused and not stopped, this is the message I want to convey to our neighbour – Defence Minister Rajnath Singh

BJP MLAs protest against the state government for not allowing Yoga Day celebrations within the West Bengal Assembly premises BJP leader Shankar Ghosh said, “Leaders of the BJP legislative party requested the Speaker to allow us to celebrate Yoga Day in the Assembly premises. He rejected our request, so we had to look for an alternative place. This decision shows the anti-India mentality of this government.”

(reports PTI)

Bada Khana’ reminds us that we are a family that may not be bound by blood but surely by patriotism, dedication and sacrifice. When we are all together, many of our soldiers are on the borders, some in snow, some at higher altitudes, and some are keeping an eye on the enemy on the other side of the border – Defence Minister Rajnath Singh addressing the Army Jawans

Stranded UK Navy F-35 jet in India after hydraulic failure; IAF had aided emergency landing, say defence officials A few days ago, the F-35 fighter jet of the UK Navy had made an emergency landing due to low fuel, after which the Indian Air Force had provided all required support, including refuelling. However, when the aircraft was going back, it developed a hydraulic failure and could not go back. A maintenance team of the UK Navy had come and tried to rectify the problem, but could not. A bigger maintenance team is expected to come to recover the aircraft. If required, the aircraft may even be taken back in a military transport aircraft: Defence officials

Meta introducing Oakley Meta Glasses, a new category of performance AI glasses Meta: Introducing Oakley Meta glasses, a new category of performance AI glasses

Meta: Limited-edition Oakley Meta HSTN will be available for preorder starting July 11 for $499 USD

Meta – Rest of Oakley Meta HSTN collection starting at $399 USD dropping later this summer

Meta: Working to bring Oakley Meta HSTN to Mexico, India, & United Arab Emirates later this year

(reports Reuters)

(reports Reuters)

Putin: We will develop military-technical cooperation with friendly states reports Reuters

Vodafone Idea says promoters will continue to have operational control reports Reuters

UK lawmakers back bill to allow terminally ill adults to end their lives, taking a step nearer to becoming law reports AP

Putin: Russia will remove obstacles in trade with our partners reports Reuters

UK lawmakers vote in favour of legalising assisted dying reports Reuters

We didn’t use to make our own decisions; we depended on the laws made in the parliament of a different country. Today, we are the fourth largest economy, and when we came to the fifth rank from the sixth, we left behind a country, England, that ruled us for over 200 years – Union Home Minister Amit Shah

Putin says Russia must not fall into recession ‘under any circumstances’ Russian President Vladimir Putin said Friday he was aware experts were warning of a recession in the Russian economy and urged officials not to allow this “under any circumstances”.

“Some specialists and experts are pointing to the risks of stagnation and even a recession. This must not be allowed to happen under any circumstances,” Putin told attendees at Russia’s flagship economic forum in Saint Petersburg.

(reports AFP)

Bhubaneswar, Odisha: PM Narendra Modi says, “Naxalism will be eradicated from the country and this is Modi’s guarantee.” The BJP government has taken strict action against those involved in violence and has given priority to the development of tribal areas. As a result, Naxal-related violence is now limited to just 20 districts…,” said PM Modi

Today, the entire economy and industries have become global. Even when the war between Israel and Iran or between Russia and Ukraine, it affects all. The chamber of commerce from the entire country, the industries, and agriculture need to introspect and get help from professionals – Union Home Minister Amit Shah

Turkish Airlines explores bid for minority stake in Air Europa Reuters citing sources

Putin: Our task is to switch economy to balanced growth reports Reuters

Putin: Russia’s economy is growing not only thanks to military complex reports Reuters

Putin: Inflation dynamic is better than many experts had expected reports Reuters

Putin: Recession or stagnation of Russia’s economy should not be allowed reports Reuters

A very large number of tribal community lives in Odisha, but unfortunately, in the past, they have only been neglected. The party that ruled the country for a long time used the tribals for its politics. These people neither gave development nor participation to the tribal society. These people pushed a large part of the country into the fire of Naxalism, violence and oppression. Before 2014, more than 125 tribal districts of the country were in the grip of Naxalite violence. In the past years, we have worked to take the tribal society out of violence and put it on a new path of development – PM Narendra Modi

Odisha witnessed corruption, no infrastructure development, while many regions remained backwards under previous regimes, alleges PM Modi

When the BJP government in Odisha is completing its first year, all of you are busy preparing for the Rath Yatra of Lord Jagannath. Mahaprabhu is our idol and inspiration and with the blessings of Mahaprabhu, the issues related to the Sri Mandir have also been resolved. I congratulate Mohan ji and his government for respecting the requests of crores of devotees. As soon as the government was formed here, all the four doors of the Sri Mandir were opened. The Ratna Bhandar of the Sri Mandir has also been opened and this is not a matter of political victory or defeat. This has been done to respect the faith of crores of devotees – Prime Minister Narendra Modi

New era of socio-economic development has begun in states where BJP has formed govt, claims PM Modi at Bhubaneswar rally reports PTI

Tesla Inc is set to open its first showrooms in India in July Bloomberg News reports

Lack of good governance in India during Congress rule, alleges PM Modi at Bhubaneswar rally reports PTI

I will give you the example of Assam. Till a decade ago, the situation in Assam was very bad. Instability, violence, all this was visible in Assam. But today, Assam is running on a new path of development… Similarly, I will mention another state. In Tripura, too, after many decades of leftist rule, people gave a chance to BJP for the first time. Tripura was also lagging behind on every scale of development, the condition of infrastructure was bad… Today, Tripura is becoming an example of peace and progress – Prime Minister Narendra Modi

Until a decade ago, Assam was near ruins. But today, the same state is moving faster than many Indian states: PM Modi

Trump called me during my visit to Canada for G7. He asked me to visit Washington since I was on the continent. However, I told him it was important for me to be at ‘Maha Prabhu’s dharti’, declined the invite, and came here (Odisha) instead of travelling to America – PM Modi

June 20 is a significant day as the BJP-led Odisha government has successfully completed one year: Modi

PM Modi launches 105 projects worth over Rs 18,600 cr, unveils Odisha Vision Document reports PTI

India lose two wickets in quick succession to reach 92/2 at lunch on opening day of first Test against England in Leeds reports PTI

This mock drill is being conducted by the district authority of Anantnag. All the agencies are involved in this mock drill. I am from the 39 RR… SDRF and other agencies are here. The main aim is to spread awareness among the people and develop coordination amongst all the agencies related to disaster management… Separate teams are deployed for the Amarnath Yatra. Here, we are conducting a mock drill for the district-level disaster – NDRF Second-in-Command officer Hilal on flood mock drill conducted in Pahalgam

UK defence minister Healey: Vandalism of RAF planes is totally unacceptable, I have ordered an investigation and a review of wider security at our bases reports Reuters

The global economic situation remains fragile and fluid. Apart from the nearterm uncertainties, the medium-term outlook is also overcast amidst recurrent geopolitical flareups and reshaping of a new global trade order. At present, global growth is on a weak footing, while inflation is generally receding, though at a slow pace. – Sanjay Malhotra, Governor, Reserve Bank of India

We need to remain watchful of weather-related uncertainties and still evolving tariff related concerns with their attendant impact on global commodity prices: RBI Via Monetary Policy Committee minutes

Spillovers emanating from protracted geopolitical tensions, and global trade and weather-related uncertainties pose downside risks to growth: RBI Via Monetary Policy Committee Minutes

RBI says global uncertainty has eased slightly but still weighs on sentiment and growth prospects “The uncertainty around the global economic outlook has ebbed somewhat since the MPC met in April in the wake of temporary tariff reprieve and optimism around trade negotiations. However, it continues to remain elevated to weaken sentiments and lower global growth prospects,” the RBI said in its Monetary Policy Committee minutes from June.

India’s forex reserves rise to $698.95 billion, up $2.29 billion as of June 13

The combined Index of Eight Core Industries (ICI) increased by 0.7 per cent (provisional) in May, 2025 as compared to the Index in May, 2024

Enabling the Battlefield of Tomorrow with Quantum Tech The Indian Army takes a significant leap in harnessing Quantum Technologies with the development of indigenous Post-Quantum Cryptography (PQC) applications. These applications have been developed by the Military College of Telecommunication Engineering #MCTE, Mhow, under the aegis of the Corps of Signals and in alignment with the Technology Research vision of the Chief of the Army Staff #COAS. Post-Quantum Cryptography based solutions are being progressively integrated across Army networks — strengthening capabilities across domains and ensuring Indian Army remains future ready in ever evolving technological landscape – ADG PI – INDIAN ARMY

Russia says completed another POW exchange with Ukraine Russia and Ukraine exchanged more captured soldiers on Friday, Moscow said, the latest in a series of prisoner swaps agreed at peace talks in Istanbul earlier this month.

“A group of Russian servicemen was returned from the territory controlled by the Kyiv regime. In exchange, a group of Ukrainian prisoners of war was handed over,” Russia’s defence ministry said in a statement.

Centre’s panel to study reasons behind emergence of ‘dummy schools’, role in encouraging full-time coaching at cost of formal schooling reports PTI

MoE panel to review advertising practices of coaching centres, use of misleading claims and promotion of selective success stories: Officials reports PTI

Gaza rescuers say 43 killed by Israeli forces Gaza’s civil defence agency said Israeli forces killed at least 43 people on Friday, including 26 who had gathered near an aid distribution centre, the latest in a string of deadly incidents targeting aid seekers in the Palestinian territory.

“Forty-three martyrs have fallen as a result of the ongoing Israeli bombardment on the Gaza Strip since dawn today, 26 of whom were waiting for humanitarian aid,” Mohammad Al-Mughayyir, director of medical supply at the civil defence agency in Gaza, told AFP.

Centre’s nine-member panel to examine gaps in current schooling system that contribute to students’ reliance on coaching centres: Officials reports PTI

Macron: France will hold a summit on space in 2026 reports Reuters

Macron: Europe must invest more money in space sector reports Reuters

Macron: France will discuss space strategy with Germany, Britain and others including UAE and India reports Reuters

Ministry of Education sets up a panel to examine issues related to coaching, effectiveness and fairness of entrance examinations: Officials reports PTI

Russia and Ukraine carry out new exchange of prisoners of war TASS reports, citing source

Odisha: Prime Minister Narendra Modi holds a roadshow in Bhubaneswar PM Modi will chair the State-level function in Bhubaneswar to commemorate the completion of one year of the Government of Odisha. He will also inaugurate and lay the foundation stone of multiple development projects worth over Rs 18,600 crore.

(reports ANI)

Macron: Europe must accelerate deployment of LEO satellites reports Reuters

Macron: Cannot accept dependence on non-European LEO satellite constellations reports Reuters

Macron: Hopes for creation of new european satellite manufacturing champion as soon as possible reports Reuters

France’s Macron: Europe has moved past the problem of restoring access to space via launchers and must now accelerate reports Reuters

Based on the cooperative model, National Taxi will be started in which the taxi drivers will not be just related to it but will be the owners of Bharat Cooperative Taxi. The profit will directly go to the bank accounts of taxi drivers – Union Home Minister & Minister of Cooperation Amit Shah

“Leaving New Delhi for Udhampur in Jammu and Kashmir. Shall attend the International Yoga Day celebrations tomorrow morning. Also, looking forward to interact with the Armed Forces personnel at Udhampur Cantt.” posts Union Defence Minister Rajnath Singh

Nathu La, Gangtok: Sikkim Governor Om Prakash Mathur flags off first batch of pilgrims for Kailash Mansarovar Yatra 2025

Rajasthan: Heavy rainfall in capital city Jaipur causes waterlogging in some areas

Hindustan Aeronautics Limited top bidder for transfer of technology for Small Satellite Launch Vehicle: India’s space regulator INSPACE

Cong’s licence raj responsible for poverty in India, while families of its leaders became rich, people remained poor, alleges PM Modi We say ‘Sabka saath, sabka vikas’ but RJD believes in ‘parivaar ka vikas’, claims PM Modi at Siwan rally.

1,18,000 MBBS doctors are coming out every year in India, says Amit Shah in Bengaluru

Prime Minister Narendra Modi lays foundation stone and inaugurates multiple development projects in Bihar

DNA samples of 220 victims of Air India plane crash matched with family members; 202 bodies handed over to kin: Gujarat minister

Bihar | PM Narendra Modi greets Bihar Chief Minister Nitish Kumar as he takes the stage at a public meeting in Siwan, where he will lay the foundation stone and inaugurate multiple development projects, including water, rail, and power sector.

Prime Minister Modi reaches Bihar’s Siwan district to lay the foundation stone and inaugurate multiple development projects

Bihar | Large crowd moves towards the venue, where PM Modi will address a public rally and inaugurate several development projects for the state, in Siwan today

Uttar Pradesh CM Yogi Adityanath inaugurates Gorakhpur Link Expressway in Azamgarh

Bihar: PM Modi will flag off Patliputra-Gorakhpur Vande Bharat Express from Patna Railway Station. Here’s what Railway Board official Dilip Kumar said “Vande Bharat Express is a new symbol of national pride and has become very popular among passengers, especially among the youth. This train is playing a significant role across various regions of the country. Initially, we launched Vande Bharat trains with eight coaches. However, as demand increased, we introduced 16-coach and later 20-coach versions. The Vande Bharat Express running between Patliputra and Gorakhpur has been strategically planned to connect several historical and important tourist destinations…”

Chennai: Tamil Nadu Chief Minister MK Stalin inaugurates various projects completed under the higher education department

UK public finances show 17.7 billion-pound deficit in May

Nine killed in head-on collision between car and truck in Bengal’s Purulia district: Police

Cognizant Technology Solutions is all set to establish a world-class IT/ITES campus in Visakhapatnam with an investment of Rs 1,582.98 crore. The project is expected to create 8,000 jobs over the next few years Cognizant has sought 21.31 acres of land at Kapulauppada under the Visakhapatnam Metropolitan Region Development Authority (VMRDA), and the state government would allot the land for a nominal rate of just 99 paisa.

Madurai-bound flight returns after mid-air ‘snag,’ say officials

Dehradun: President Droupadi Murmu visits the National Institute for the Visually Handicapped (NIVH) in Dehradun; distributes special kits and low-vision glasses to children

Woman Naxalite killed in encounter with security personnel in Chhattisgarh’s Kanker district: Police

Uttar Pradesh: Children participate in a yoga session in Prayagraj as preparations underway for International Yoga Day

Air India’s international flights AI906 from Dubai to Chennai; AI308 from Delhi to Melbourne; AI309 from Melbourne to Delhi; AI2204 from Dubai to Hyderabad and domestic flights AI874 from Pune to Delhi; AI456 from Ahmedabad to Delhi; AI-2872 from Hyderabad to Mumbai and AI571 from Chennai to Mumbai have been cancelled due to enhanced maintenance and operational reasons: Air India

Delhi Police Crime Branch busts a fake degree syndicate with the arrest of five accused

Rupee rises 15 paise to 86.58 against US dollar in early trade

US court lets Trump retain control of California National Guard for now A U.S. appeals court let Donald Trump on Thursday retain control over California’s National Guard while the state’s Democratic governor proceeds with a lawsuit challenging the legality of the Republican president’s use of the troops to quell protests and unrest in Los Angeles.

A three-judge panel of the San Francisco-based 9th U.S. Circuit Court of Appeals extended a pause it placed on U.S. District Judge Charles Breyer’s June 12 ruling that Trump had called the National Guard into federal service unlawfully.

NASA puts off Sunday’s launch of Axiom-4 mission to International Space Station; new launch date to be announced in coming days

Visuals of first locomotive later that PM Modi will flag today

India News Live updates: PM Modi to flag off first ‘made in India’ locomotive for export to Guinea from Marhowra plant in Bihar Furthering the vision of “Make in India – Make for the World,” Prime Minister Narendra Modi will flag off a state-of-the-art locomotive built at the Marhowra Plant in Bihar’s Saran for export to the Republic of Guinea on Friday, a release said.

According to the Prime Minister’s Office (PMO) release, this is the first export locomotive manufactured in this factory. The release said the locomotives are equipped with high-horsepower engines, an advanced AC propulsion system, microprocessor-based control systems, ergonomic cab designs, and incorporate technologies like regenerative braking.

Speaking to ANI, Dilip Kumar, Executive Director of Information and Publicity (EDIP) at the Railway Board, said the plant earlier produced locomotives exclusively for Indian Railways, but with increased capacity, India is now entering the global locomotive export market.

Russian officials sparred publicly on Friday over how to boost the economy, as growth slows more than three years into its Ukraine offensive.

Moscow had shown unexpected economic resilience in 2023 and 2024, despite the West’s sweeping sanctions, with massive state spending on the military powering a robust expansion.

But economists have long warned that heavy public investment in the defence industry is no longer enough to keep Russia’s economy growing.

Businesses and some government figures have urged the central bank to further cut interest rates to stimulate activity.

‘The indicators show the need to reduce rates,’ deputy prime minister Alexander Novak said at Russia’s flagship economic forum in Saint Petersburg.

‘We must move from a controlled cooling to a warming of the economy,’ said Novak, who oversees Russia’s key energy portfolio in the government.

He described the current economic situation facing the country as ‘painful’.

President Vladimir Putin on Friday urged officials not to let Russia fall into recession ‘under any circumstances’, as some in his own government warned of a hit to economic growth.

Economists have warned for months of a slowdown in the Russian economy, with the country posting its slowest quarterly expansion in two years in the first quarter of 2025.

The Kremlin has said this is to be expected after two years of rapid expansion as it ramped up military expenditure to fund the Ukraine campaign, but officials including the country’s economy minister have warned of pain ahead.

‘Some specialists and experts are pointing to the risks of stagnation and even a recession,’ Putin told attendees in an address at the forum in Saint Petersburg.

‘This must not be allowed to happen under any circumstances.’

‘We need to pursue a competent, well-thought-out budgetary, tax and monetary policy,’ he added.

The call for more cuts to borrowing costs comes a day after Moscow’s economy minister warned the country was ‘on the verge of a recession’.

‘A simple and quick cut in the key rate is unlikely to change anything much at the moment, except for… an increase in the price level,’ the central bank’s monetary policy department chief Andrey Gangan said.

The central bank lowered interest rates from a two-decade-high earlier this month, its first cut since September 2022.

The bank, which reduced the rate from 21 per cent to 20 per cent, said at the time that Russia’s rapid inflation was starting to come under control but monetary policy would ‘remain tight for a long period’.

The central bank has resisted pressure for further cuts, pointing to inflation of around 10 per cent, more than double its four-per cent target.

Russia’s gross domestic product growth slowed to 1.4 per cent year-on-year in the first quarter, the lowest quarterly figure in two years.