The hunt for work becomes more desperate every day on Delhi's street corner labour markets as India's economic slowdown bites deeper, piling pressure on Prime Minister Narendra Modi just half a year into his second term.
With the central bank cutting interest rates five times this year -- but on Thursday unable to lower them any further because of high inflation -- patience was running thin at the "labour Chowk", or market, in the packed, narrow streets of Old Delhi.
Among the hundreds of painters, electricians, carpenters and plumbers who anxiously gather at dawn each day, 55-year-old painter Tehseen has been a regular for three decades. But he is despondent.
His monthly income has slumped from about $350 to $140 in the past three years. He is at least still earning. The unemployment rate, currently about 8.5 percent, has hit a four-decade high in the past two years.
Tehseen blames government efforts to eradicate the tax-avoiding "unofficial economy". A government survey this year estimated that more than 90 percent of the workforce are "unofficial".
Modi stunned the country in November 2016 by cancelling more than 80 percent of the bank notes in circulation, and the introduction a year later of a nationwide goods and services tax dealt a new blow to business confidence.
Last week, official figures showed the economy grew just 4.5 percent in the second quarter, the slowest rate in six years. Modi's rightwing government is struggling to convince the public that it has the answers to the slowdown.
"Companies have suffered since the note ban," said Tehseen.
"They do not want to think about getting their offices renovated when they have no business. We have to bear the brunt now."
Raju, a labour market carpenter for 20 years, said he now goes for days on end without a job offer.
"The work and the money are 50 percent down on what I used to get," he said.
And lower wages means a harder time to get a meal on the table.
- In trouble and worried -
At the Old Delhi food market, Zarina Begum said she sometimes goes home with her bags empty. "The vegetables are just too expensive," said the 50-year-old housewife.
On bad days her children get a meal of pulses, or chickpea flour with oil.
Raj Kumar used to sell a meal of lentils and vegetables in his nearby restaurant for the equivalent of 56 US cents. But increased costs means he now asks 70 cents and sales have taken a hit.
"I had to increase prices to keep up with expenses. But people just don't have the money," he said.
Sandip Jain, a 45-year-old stone mason, said people might have a good opinion of Modi but they are disappointed with his handling of the economy.
"Every businessman is in trouble and is worried. Those who ended their day with an income of 700 rupees (10 dollars) are now down to 270," he said.
Finance minister Nirmala Sitharaman has announced reforms, including easing restrictions on foreign investment and cutting corporate taxes. But that does little to boost public confidence in a country where hundreds of millions live barely on poverty wages.
The multi-nation Organisation for Economic Cooperation and Development stepped up pressure on Modi on Thursday by calling for India to bring down trade barriers and reform its "complex" labour laws that discourage hiring.
"Consumption has fallen because of the breakdown of the labour market," Ram Kumar of the Tata Institute of Social Sciences said.
He said Modi has given incentives to the private sector but companies have not responded and the economy was now worsening because the government "avoids" questions on the slowdown.
Economist Sameer Narang said the government had to see through its privatisation and other reforms but warned "it will be a slow recovery for India from here on".
People sing songs and cheer in Hostages Square, after it was announced that all living hostages had been released and arrived back in Israel on October 13, 2025 in Tel Aviv, Israel.(Photo: Getty Images)
Hamas hands over remaining Israeli hostages under Trump-brokered ceasefire
Trump arrives in Israel, says Gaza war is “over” as deal takes effect
Nearly 2,000 Palestinian detainees and prisoners to be released
Global leaders to meet in Egypt to discuss post-war stability
HAMAS on Monday handed over its remaining Israeli hostages to the International Committee of the Red Cross in Gaza for transfer to the Israeli military, an official involved in the operation told Reuters.
The handover marked a key step in ending two years of war in Gaza under a ceasefire deal brokered by United States president Donald Trump, who arrived in Israel to address its parliament.
As he entered the Knesset, Trump said the Palestinian militant group Hamas would comply with a provision under his plan requiring it to disarm, though the group has ruled this out.
Speaking to reporters before his address, Trump replied “yes” when asked if Gaza’s war was over.
Hostages reunited with families
As thousands gathered in Tel Aviv’s Hostages Square, Israel’s military said it had received seven living hostages after their transfer from Gaza by the Red Cross.
“I am so excited. I am full of happiness. It's hard to imagine how I feel this moment. I didn't sleep all night,” said Viki Cohen, mother of hostage Nimrod Cohen, as she travelled to Reim, the Israeli military camp where the hostages were taken.
Initial photographs of six of the freed hostages distributed by the Israeli military showed them standing.
The military said Red Cross representatives were on their way to receive the remaining 13 confirmed living hostages, who were also expected to be released on Monday.
Bodies of some of the 26 dead hostages, and two others whose fate is unknown, will also be released, along with nearly 2,000 Palestinian detainees and prisoners held in Israel.
The releases are part of the first phase of the ceasefire accord agreed last week in Sharm el-Sheikh, Egypt. Trump and more than 20 other world leaders are meeting there later on Monday to discuss next steps aimed at broader Middle East stability.
The Gaza conflict began with a Hamas attack on October 7, 2023, that killed about 1,200 people in Israel and saw 251 taken hostage, according to Israeli figures. Israeli airstrikes and ground assaults since then have killed more than 67,000 Palestinians, Gaza’s health officials said.
Leaders meet to discuss lasting peace
In Gaza, about a dozen masked and armed men, apparently from Hamas’ military wing, arrived at Nasser Hospital where preparations were underway to welcome returning Palestinian prisoners.
“I hope that these images can be the end to this war. We lost friends and relatives, we lost our houses and our city,” said Emad Abu Joudat, 57, a father of six from Gaza City, watching the handover on his phone.
The United States mediated the agreement with Egypt, Qatar and Turkey. The next phase of the deal includes an international body called the “Board of Peace,” to be led by Trump.
Progress toward lasting peace will depend on global commitments that may be discussed at Monday’s summit, but key details remain unresolved.
Outstanding issues include governance of Gaza after the conflict and the future of Hamas, which has rejected Israel’s demand to disarm.
The group’s public appearance on Monday at Nasser Hospital highlighted the challenges of addressing Israeli concerns over Hamas’ continued control of Gaza, which it has ruled since 2007.
Other disputes include the extent of Israel’s withdrawal from Gaza and moves toward a Palestinian state, which many Israelis oppose.
Trump addresses Knesset
Israeli Prime Minister Benjamin Netanyahu greeted Trump at the airport as Air Force One landed, and accompanied him by limousine as a band played.
Trump will be the fourth US president to address the Knesset, following Jimmy Carter in 1979, Bill Clinton in 1994 and George W Bush in 2008.
Two years of conflict
Two years of war have left Gaza in ruins, with nearly all of its 2.2 million residents displaced. The conflict has also widened regional tensions involving Iran, Hezbollah in Lebanon, and Yemen’s Houthis.
Near Israel’s Reim camp, where the hostages were being taken to hospitals, people lined the road waving Israeli flags marked with yellow ribbons and the Star of David.
The family of hostage Matan Angrest thanked Trump for his role in securing his return. “We can breathe again. Our Matan is home!” they said.
At Israeli prisons, 1,968 Palestinian detainees boarded buses, most bound for Gaza’s Nasser Hospital, an official said.
Most of those released are Gazans detained during the war, along with 250 prisoners convicted of or suspected of involvement in deadly attacks.
Hamas’ armed wing said it remained committed to the deal, provided Israel also adheres to the agreed terms.
UN aid chief Tom Fletcher said on X that Israel had approved additional emergency aid deliveries, while UNRWA, the U.N. agency operating in Gaza, urged Israel to allow it to work without restrictions.
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