As tensions between India and China reached boiling point after the clashes in Eastern Ladakh, the White House on Wednesday (June 17) said it had no formal plans to mediate between the two countries.

There are no formal plans on that, White House Press Secretary Kayleigh McEnany said.

On Wednesday night, India was elected unopposed to secure a comfortable victory in the United Nations Security Council elections to join the powerful 15-nation body as a non-permanent member for the 2021-22 term.

With 184 votes out of the total 192 polled, India which won the UN non-permanent seat for the eighth time has emerged as the single-endorsed candidate from the Asian Pacific regional group, amid the larger push for the country to be made a permanent member of the five-nation apex grouping, currently comprising the US, UK, Russia, China, and France.

The talks between Major Generals of India and China in the Galwan Valley in Ladakh were inconclusive, reports said.

Citing sources, ANI reported that the talks were concluded late on Wednesday evening but remained inconclusive.

Prime Minister Narendra Modi on Wednesday said there is a need to fight rumours of lockdown and plan phase 2 of Unlock even as the number of coronavirus cases rises rapidly in the country.

The Prime Minister held the second part of two-day interaction with chief ministers of various states and Union territories via video conferencing to discuss the situation post Unlock 1.0 and plan for tackling the COVID-19 pandemic.

External Affairs Minister S Jaishankar on Wednesday told his Chinese counterpart that the Chinese side took pre-meditated and planned action in Galwan Valley that was directly responsible for the resulting violence and death of at least 20 Indian soldiers.

In a telephonic conversation with Chinese Foreign Minister Wang Yi, Jaishankar explained the sequence of events that led to violent face-off in Ladakh near the Line of Actual Control (LAC).

Three BJP MLAs in Manipur quit the party on Wednesday and joined the opposition Congress, bringing the N Biren Singh government in minority.

BJP ally National People's Party (NPP) also withdrew its support with four of its MLAs resigning from ministerial posts.

Subhashchandra Singh, TT Haokip and Samuel Jendai resigned as BJP MLAs and joined Congress on Wednesday.

French banking major BNP Paribas has decided to shut down its onshore wealth management business having assets under management of $14.5 billion, officials said on Tuesday.

The entity said the move is driven by strategic reasons, wherein it wants to focus on businesses like corporate and institutional banking, and cannot be linked to the Covid-19 crisis.

Gold price jumped to Rs 47,540 from Rs 47,314 per 10 gram, while silver went up to Rs 47,870 from Rs 47,545 per kilogram on Wednesday, according to the Indian Bullion and Jewellers Association.

The prices of gold jewellery vary across India, which is the second-largest consumer of the metal, due to excise duty, state taxes, and making charges.

Chinese auto major Great Wall Motor (GWM) on Tuesday said it has signed a memorandum of understanding with the Maharashtra government for its manufacturing facility in the state which it had acquired from General Motors (GM).
The company has committed an investment of $1 billion (about Rs 7,600 crore) in India in a phased manner with an estimated employment for over 3,000 people.

India received $51 billion in foreign investment in 2019 and was the world’s 9th largest recipient of foreign direct investments (FDI) in 2019, according to a report by the UN’s trade body.

The UN Conference on Trade and Development (UNCTAD) said in a report on Monday that a lower but positive economic growth in India in the post-Covid-19 pandemic period and India's large market will continue to attract market-seeking investments to the country.

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