Pramod Thomas is a senior correspondent with Asian Media Group since 2020, bringing 19 years of journalism experience across business, politics, sports, communities, and international relations. His career spans both traditional and digital media platforms, with eight years specifically focused on digital journalism. This blend of experience positions him well to navigate the evolving media landscape and deliver content across various formats. He has worked with national and international media organisations, giving him a broad perspective on global news trends and reporting standards.
KEY emerging market economies are taking a severe hit to GDP amid the coronavirus pandemic, with India seeing the first contraction in decades, the IMF said.
The updated World Economic Outlook shows India's GDP will fall 4.5 per cent this year, far worse than expected in April just after the pandemic first took hold outside of China.
Mexico will see a double digit decline of 10.5 per cent while Brazil just misses that mark with a drop of 9.1 per cent.
Argentina is projected to fall 9.9 per cent, with the country already in the middle of a massive debt crunch on top of the health and economic crises after once again defaulting on its foreign obligations.
During the global financial crisis in 2009, these emerging markets, along with China, were booming, supporting the global economy even as advanced nations faced severe recessions.
Meanwhile, South Africa's GDP is seen dropping 8.0 per cent, while oil-producer Nigeria falls 5.4, the IMF said.
According to IMF, this is a "crisis like no other". The world GDP will sink 4.9 per cent this year and wiping out $12 trillion over two years, the IMF said.
Worldwide business shutdowns destroyed hundreds of millions of jobs, and major economies in Europe face double-digit collapses.
The prospects for recovery post-pandemic -- like the forecasts themselves -- are steeped in "pervasive uncertainty" given the unpredictable path of the virus, the global agency said.
"The Covid-19 pandemic has had a more negative impact on activity in the first half of 2020 than anticipated, and the recovery is projected to be more gradual than previously forecast," the fund warned.
While businesses are reopening in many countries and China has seen a bigger rebound in activity than expected, a second wave of viral infections threatens the outlook, the report said.
World GDP is expected to rebound by just 5.4 per cent in 2021, and only if all goes well, the IMF warned.
Poor most vulnerable
IMF chief economist Gita Gopinath said under current forecasts, the crisis will destroy $12 trillion over two years, and cautioned, "we are not out of the woods."
"Substantial joint support from fiscal and monetary policy must continue for now," Gopinath said in a blog post.
The downturn is particularly damaging for low-income countries and households, and threatens to endanger the progress made on reducing extreme poverty, the Washington-based crisis lender said in its report.
The fund made drastic downward revisions to most of the April forecasts made in the early days of the pandemic, and IMF economists fear the coronavirus will leave lasting scars on employment, businesses and trade.
Hanging over the predictions is the bill for massive government stimulus plans, which were fueled by extremely low interest rates and likely prevented the recession from turning into a depression even as they created huge and ever-increasing debt levels.
- Drastic, downward revisions -
The damage is nonetheless stunning, and more widespread than any downturn in recent decades. The recession in many major economies will be more than double that suffered during the global financial crisis in 2009, which came as major developing economies like China, India and Brazil were booming.
China will eke out growth of one percent this year, the only positive figure on the long list of key economies the IMF tracks.
The United States will shrink eight percent and Germany slightly less, while France, Italy, Spain and Britain will suffer double-digit contractions. Japan makes out a bit better with a drop of just 5.8 percent, according to the forecasts.
Mexico also will see a double-digit decline while Brazil just misses that mark, as does Argentina, which is in the middle of a massive debt crunch on top of its health and economic crises after the country once again defaulted on its foreign obligations.
The IMF pointed to International Labour Organization data estimating more than 300 million jobs were lost in the second quarter of the year.
The "sizeable" flood of government funds to support workers and businesses "have forestalled worse near-term losses," but the IMF urged countries to avoid a situation where aid is "prematurely withdrawn or improperly targeted" since that could worsen the economic damage.
"A more prolonged decline in activity could lead to further scarring, including from wider firm closures, as surviving firms hesitate to hire jobseekers after extended unemployment," the fund warned.
With transport and manufacturing shut down for weeks, the IMF projects global trade volume will collapse by just under 12 percent -- and advanced economies will see an even more dramatic drop.
The IMF also warned of dangers posed by eroding relations between and within countries.
"Beyond pandemic-related downside risks, escalating tensions between the US and China on multiple fronts, frayed relationships among the Organization of the Petroleum Exporting Countries (OPEC+) coalition of oil producers and widespread social unrest pose additional challenges to the global economy," the report said.
INDIA must take an investor-centric approach to attract global funding for its growing sustainable infrastructure needs, the UK-India Infrastructure Financing Bridge (UKIIFB) said in a report released in London on Monday.
The UKIIFB, co-chaired by NITI Aayog and the City of London Corporation, completed one year this week. The group was launched in September last year to help bridge the gap between global investor interest and infrastructure projects in India.
Over the past year, the steering board of the group has consulted on projects such as national highways and regional rapid transport in India. The result is a report with proposals and recommendations to improve investor confidence and financing.
“The transformative UK-India Infrastructure Bridge, jointly steered by India's visionary policy think-tank NITI Aayog and the historic City of London Corporation, is unlocking vast international capital for India's infrastructure revolution,” said BVR Subrahmanyam, CEO of NITI Aayog and Co-Chair of the UKIIFB.
“This landmark partnership draws on India's unmatched capacity for high-growth, sustainable ventures and aligns it with the UK's proven skills in project finance and strategic execution,” he said.
“Together, we are crafting a robust framework to accelerate India's ambitious goals in smart cities, renewable energy, and connectivity,” he added.
Subrahmanyam said the collaboration under the UKIIFB strengthens India’s progress towards becoming a global economic power by combining domestic leadership with international cooperation.
The UKIIFB aims to build bilateral collaboration in project finance to meet India’s demand for sustainable infrastructure growth. Chris Hayward, Policy Chairman of the City of London Corporation and Co-Chair of the UKIIFB, said the initiative plays a “vital role” in mobilising capital for India’s critical infrastructure.
“This report makes a powerful case for action, outlining practical steps to make Indian infrastructure projects more attractive to global investors,” said Hayward, as he released the one-year report with Subrahmanyam.
“At its heart, the findings highlight a clear truth: international investors need clarity, confidence, and consistency – and India's growth ambitions deserve a financing model that matches their scale,” he said.
The report notes that India’s infrastructure demand is being driven by rapid urbanisation and a growing middle class. It adds that the target of USD 4.5 trillion investment in infrastructure by 2030 cannot be achieved through domestic investment alone.
For its second year, the UKIIFB has set out key proposals, including adopting an investor-centric approach to align with global investor priorities on risk, value and returns. It also calls for measures to address outdated perceptions of India’s infrastructure sector.
Other recommendations include aligning with global standards, enhancing transparency and risk management to build investor confidence, and creating a supportive environment for infrastructure development by fostering partnerships with local industry.
The City of London Corporation, the governing body of London’s financial district, leads the UK side of the partnership. The UKIIFB was launched as part of the UK Economic and Financial Dialogue (EFD) and is supported by a steering committee with members from the UK Treasury, construction, engineering and legal firms from both countries.
In its first year, the committee was tasked with advising policymakers on removing barriers to international private sector investment in Indian infrastructure and helping projects reach the stage where they are ready to attract investment.
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Sitting at the centre of a long table, Trump was flanked by First Lady Melania Trump and Microsoft co-founder Bill Gates on one side, and Meta CEO Mark Zuckerberg on the other. (Photo: Getty Images)
US PRESIDENT Donald Trump praised Microsoft CEO Satya Nadella and Google CEO Sundar Pichai during a White House dinner with top technology executives on Thursday. The two Indian-American leaders thanked him for his leadership and for policies in the technology and AI sectors.
Trump described the gathering as a “high IQ group,” calling the executives “the most brilliant people.” Sitting at the centre of a long table, Trump was flanked by First Lady Melania Trump and Microsoft co-founder Bill Gates on one side, and Meta CEO Mark Zuckerberg on the other. Pichai and Apple CEO Tim Cook sat across from him, while Nadella was seated toward one end of the table.
“It’s an honour to be here with this group of people. They’re leading a revolution in business and in genius and in every other work you can imagine,” Trump said.
After his remarks, Trump invited the technology leaders to share their thoughts.
Pichai said the “AI moment is one of the most transformative moments any of us have ever seen or will see in our lifetimes. So making sure the US is at the forefront.” He called the White House’s “AI Action Plan,” announced in July, a “great start.”
“We look forward to working together. And thanks for your leadership,” Pichai told Trump. “Great job you’re doing. Incredible, really,” Trump replied.
Turning to Nadella, Trump said the Microsoft chief “has done a pretty good job” and pointed to Microsoft stock rising from USD 28 to over USD 500. “What a job you’ve done,” Trump said.
Nadella thanked Trump “for bringing us all together” and for policies that support US leadership in technology. He added that market access and global trust in American technology were key.
“I think that everything that you are doing in terms of setting in place the platform where the rest of the world can not only use our technology, but trust our technology more than any other alternative, is perhaps the most important issue, and you and your policies are really helping a lot,” Nadella said.
Nadella also thanked the First Lady for hosting a discussion on AI and economic opportunity. Trump responded: “A really amazing job you’ve done.”
Earlier in the day, Melania Trump hosted a meeting of the White House Task Force on Artificial Intelligence Education, joined by Pichai, IBM CEO Arvind Krishna and other industry leaders.
Speaking after Nadella, Gates said he is now in the second phase of his career, “giving away all the wonderful money that Satya’s good work has helped multiply a lot,” drawing laughter from Trump.
During the dinner, Trump asked Pichai about Google’s investment plans. Pichai said the company would invest USD 250 billion in the US over the next two years. “It’s great. We are proud of you. A lot of jobs,” Trump responded.
Trump also asked Nadella about Microsoft’s investment. Nadella said the company invests about USD 75–80 billion each year in the US. “Very good, thank you very much,” Trump said.
Responding to media questions at the event, Trump repeated his claim that he had “settled” seven wars, without naming them. He added that three of those wars had lasted 31, 34 and 37 years. Trump also said he would soon speak with Russian President Vladimir Putin, adding, “We are having a very good dialogue.”
Other attendees included Google co-founder Sergey Brin, OpenAI CEO Sam Altman and Oracle CEO Safra Catz.
(With inputs from PTI)
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Aishwarya Rai Bachchan has approached the court over misuse of her AI-generated images
Next hearing scheduled before joint registrar on 7 November and full court on 15 January 2026.
Bollywood star Aishwarya Rai Bachchan has approached the Indian court to safeguard her personality rights after discovering that her name, photographs, and digitally manipulated images were being misused online. The actor’s petition draws attention to the rise of AI-generated pornographic content, calling it a grave violation of her dignity and privacy. Justice Tejas Karia has indicated that an ad-interim order may be passed to restrain the defendants from further misuse.
Aishwarya Rai Bachchan has approached the court over misuse of her AI-generated images Getty Images
Why did Aishwarya Rai Bachchan file a Delhi High Court case?
Rai Bachchan’s plea, filed through senior advocate Sandeep Sethi along with lawyers Pravin Anand and Dhruv Anand, alleges the unauthorised use of her name, image, likeness, and voice for commercial gain and objectionable content. The petition states that manipulated visuals, created through deepfake and artificial intelligence tools, were being circulated online in sexually explicit form.
Sethi told the court: “Her name and image are being used to satisfy someone’s sexual desires. This is very unfortunate.” He argued that fabricated intimate images were being exploited without her knowledge or consent, amounting to a severe breach of her rights.
Aishwarya Rai Bachchan seeks protection of her personality rights against deepfake pornographic contentGetty Images
Who has been named in Aishwarya Rai’s plea?
The petition lists a mix of websites, companies, and online platforms allegedly misusing her identity. These include sites like aishwaryaworld.com, apkpure.com, bollywoodteeshop.com, and kashcollectiveco.com, which sell merchandise using her photos without authorisation.
Other names include Etsy, the organisation Aishwarya Nation Wealth Motivational Speaker, a chatbot using her persona, and YouTube channels such as @NewNWSTamil and @Bollywood_CinemaTV07. Tech giant Google LLC has also been mentioned as a respondent, along with the Union Ministry of Electronics and Information Technology and the Department of Telecommunications.
Aishwarya Rai Bachchan moves to court over AI misuse of her imageGetty Images
What are personality rights and why do they matter?
Personality rights, also referred to as publicity rights, allow individuals to control the use of their name, likeness, image, voice, and unique style. In India, several film stars have turned to the courts to enforce these rights in recent years.
Anil Kapoor obtained a Delhi High Court order in 2023 to stop unauthorised use of his name, voice, and iconic catchphrase “jhakaas”. Amitabh Bachchan also secured protection against misuse of his persona. Jackie Shroff has taken similar steps. For Rai Bachchan, whose global profile extends far beyond Indian cinema, the petition is both a personal defence and a wider statement on protecting celebrities from digital exploitation.
When will the case be heard next?
The court has listed the matter before the joint registrar on 7 November 2025 and for a further hearing on 15 January 2026. Justice Tejas Karia noted that while broad reliefs were sought, injunctions may have to be issued individually against each defendant. The court is also considering whether specific URLs should be submitted for takedown under the Blocking and Screening Instructions framework.
Until then, an ad-interim injunction is expected to temporarily restrain platforms and individuals from exploiting Rai Bachchan’s identity.
Aishwarya Rai Bachchan files case saying AI deepfake porn exploited her name and face without consentGetty Images
A wider concern about AI in Bollywood
The case brings to light the growing challenge of AI deepfakes in India’s entertainment industry. As technology becomes easier to access, actors and public figures face increasing risks of their image being manipulated without consent. For female stars in particular, the creation of pornographic deepfakes represents a profound threat to dignity and safety online.
By taking legal action, Rai Bachchan joins a growing list of celebrities using the courts to set boundaries on digital misuse. Her case may become a landmark moment in shaping India’s legal framework around personality rights in the age of artificial intelligence.
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Karisma Kapoor’s children accuse Priya Kapur of suppressing will in £2.51bn Sunjay Kapur property battle
Karisma Kapoor’s kids seek share in late father Sunjay Kapur’s £2.51bn (₹30,000 crore) estate
They accuse stepmother Priya Kapur of forging a will to take full control
Lawsuit requests recognition as Class I legal heirs and partition of assets
Interim plea filed to freeze Sunjay Kapur’s personal estate until case outcome
The inheritance battle over business tycoon Sunjay Kapur’s £2.51bn (₹30,000 crore) estate has reached the Indian court, with Karisma Kapoor’s children Samaira and Kiaan accusing their stepmother Priya Kapur of presenting a forged will. The suit has opened a new chapter in the Sunjay Kapur death case, less than three months after the auto components magnate and Sona Comstar chairman died during a polo match in Windsor, UK.
Karisma Kapoor’s children accuse Priya Kapur of suppressing will in £2.51bn Sunjay Kapur property battle Instagram/therealsamairakapoor
What is Karisma Kapoor’s children’s plea in the Delhi High Court?
Samaira (20) and Kiaan (14), represented through their mother Karisma Kapoor, have filed a civil suit demanding recognition as Class I legal heirs. They are seeking partition of their late father’s assets and want a one-fifth share each of his personal estate.
The plea also asks for a freeze on Sunjay Kapur’s personal assets until the matter is resolved, to prevent any transfer or sale. According to the suit, the children were close to their father and he had repeatedly assured them of their financial security by setting up ventures and trusts in their names.
The siblings have made serious allegations against their stepmother Priya, who was married to Sunjay Kapur at the time of his death and has a six-year-old son with him. They allege Priya, along with two associates, Dinesh Agarwal and Nitin Sharma, deliberately withheld the will for seven weeks before producing it at a family meeting on 30 July 2025.
The will, dated 21 March 2025, reportedly leaves Sunjay’s entire personal estate to Priya Kapur. The children claim this document is “forged and fabricated” and surrounded by “suspicious circumstances”, as neither the original nor a copy has been shown to them.
The suit also names Priya’s son, Sunjay’s mother Rani Kapur, and the purported executor of the will, businesswoman Shradha Suri Marwah, as defendants.
Who inherits if the court recognises Karisma Kapoor’s children as legal heirs?
Under Indian succession laws, if Samaira and Kiaan are recognised as Class I heirs, they would be entitled to equal shares along with other legal heirs of Sunjay Kapur. The children argue that their father had initiated business ventures in their names and named them as trust beneficiaries, promising his commitment to their financial future.
They also mentioned how Sunjay promised them long-term security through shared holidays, business discussions, and family interactions. The case, therefore, is not only about the contested will but also about whether those assurances translate into enforceable inheritance rights.
Sunjay Kapur, a US citizen and billionaire industrialist, was the chairman of Sona BLW Precision Forgings Ltd (Sona Comstar), one of India’s largest automotive component manufacturers. He inherited the group after the death of his father, Dr Surinder Kapur, in 2015 and expanded it into a global enterprise with operations across India, China, Mexico, Serbia, and the US.
According to Forbes, his net worth at the time of his death in June 2025 stood at £950 million (₹10,300 crore), though reports place the wider family estate at £2.51bn (₹30,000 crore). His sudden death at 53, officially ruled as natural due to heart disease, has left behind a major succession crisis within one of India’s most prominent business families.
The Indian court will now examine the validity of the alleged will and decide whether Karisma Kapoor’s children can be formally recognised as legal heirs. For now, the plaintiffs are pressing for interim relief to freeze assets while the matter is under consideration.
The case is, in fact, about the intersection of Bollywood and business, drawing public attention not only because of Karisma Kapoor’s celebrity status but also due to the massive wealth involved and the serious allegation of will forgery within one of India’s most high-profile families.
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The visit coincides with the 13th round of India-EU negotiations on a proposed free trade agreement, which both sides aim to finalise by December. (Representational image: iStock)
THE EUROPEAN Union's Political and Security Committee (PSC), made up of envoys from the 27 member states, will begin a five-day visit to India on Wednesday. The visit will focus on strengthening overall ties, including efforts to conclude a free trade agreement that has been under negotiation for years.
The committee, headed by Ambassador Delphine Pronk, is visiting India for the first time. It will hold strategic discussions with senior Indian government officials, defence industry representatives, civil society organisations and leading think tanks.
The PSC consists of EU member states' ambassadors based in Brussels and is chaired by the European External Action Service. It plays a key role in shaping the EU's common foreign and security policy (CFSP) and common security and defence policy (CSDP).
The visit coincides with the 13th round of India-EU negotiations on a proposed free trade agreement, which both sides aim to finalise by December. It also comes ahead of the next India-EU summit, expected to be held in India in the first half of next year.
"This extensive engagement aims to provide a comprehensive assessment of policy priorities, while exploring future avenues for enhancing cooperation on key foreign policy matters, security and defence, particularly in the lead up to the upcoming EU-India summit," an EU readout said.
The PSC monitors global developments and advises the Council of the European Union on strategic responses.
"EU-India collaboration is vital in key areas of mutual interest, including counterterrorism, cybersecurity, hybrid threats, maritime security and maritime domain awareness, space security, defence industry cooperation and countering foreign information manipulation and interference," Ambassador Pronk said.
"These critical issues will be high on our agenda and the insights and recommendations gathered from our visit will be presented to the top political leaders of the EU, paving the way for enhanced cooperation," she added.
Herve Delphin, the EU’s Ambassador to New Delhi, said the EU and India were "natural partners" with strongly converging interests and shared values.
"Our leaders are determined to elevate the EU-India Strategic Partnership and harness its immense potential," he said. "This partnership of mutual benefit can contribute to the prosperity and safety of our citizens and contribute to global stability and security."
Ambassador Delphin added that the visit by PSC underlines Team Europe’s intent to strengthen defence and security cooperation with India.
The EU readout said the visit builds on recent milestones, including the EU College of Commissioners’ visit to India in February, the first EU-India Strategic Dialogue in June, and the upcoming EU-India Summit in early 2026.
"The EU is one of India's largest trading partners and investors, with both sides aiming to conclude a free trade agreement by the end of 2025," it said. "The EU and India as large, pluralistic democracies share a strong commitment to upholding the rule of law, human rights, and democratic governance," it added.