The Indian Army's T90 battle tanks take part in a parade marking the 70th Republic Day in New Delhi, India. Republic Day marks the adoption of the constitution and transition of India to a republic on 26 January. EPA
Indian soldiers of the President's Bodyguard stand guard on their mounts during the Republic Day parade in New Delhi. AFP
Indian army K9 Vajra-T tanks take part in the Republic Day parade in New Delhi. AFP
A tableau of the Central Public Works Department of India takes part during the Republic Day parade in New Delhi. AFP
An Indian Air Force contingent marches during the Republic Day parade in New Delhi. AFP
Members of the Indian Army motorcycle team 'Daredevils' take part in the Republic Day parade in New Delhi. AFP
Indian Army officers participate in the 70th Republic Day celebrations in New Delhi. EPA
A tableau of the Indian state of Delhi takes part during the Republic Day parade in New Delhi. AFP
A Jammu and Kashmir state policeman performs a motorcycle stunt during Republic Day celebrations in Jammu, India. AP
Indian railway protection forces participate in the 70th Republic Day celebrations in New Delhi, India. EPA
An Indian officer of the all-women Assam Rifles contingent leads for the first time their contingent during the Republic Day parade in New Delhi. AFP
An Indian army contingent marches during the Republic Day parade in New Delhi. AFP
The Central Reserve Police Force contingent marches during the Republic Day parade in New Delhi. AFP
Indian army tanks and other military equipment roll past Rajpath, the ceremonial boulevard, during Republic Day parade in New Delhi, India. AP
Camel mounted Indian Border Security Force soldiers march past Rajpath, the ceremonial boulevard, during Republic Day parade in New Delhi, India. AP
Indian Prime Minister Narendra Modi gestures as he walks past former Indian Prime Minister Manmohan Singh (in blue turban) ahead of the 70th Republic Day parade in New Delhi. AFP
India celebrates Republic Day on January 26 every year to commemorate the adoption of the constitution in 1950, when the former South Asian British colony transformed into a sovereign, democratic and republic nation after gaining freedom in 1947.
The day is considered a significant moment in the modern history of the world’s largest democracy that witnessed the transfer of power from the post-independence monarchy to the Indian people.
It has become an occasion to celebrate the democratic traditions and military might of the South Asian powerhouse as well as its cultural and regional diversity.
Taking place on Thursday, this year's 74th Republic day, like before, will be marked with a grand military and cultural parade on Kartavya Path, the newly refurbished three-kilometre-long broadway, part of Prime Minister Narendra Modi’s ambitious Central Vista project in the heart of the capital New Delhi.
The event is taking place after a two-year pause due to the pandemic and is set to be attended by India’s newly appointed President Droupadi Murmu, Mr Modi, his cabinet colleagues, opposition leaders, foreign diplomats and the Republic Day chief guest Egyptian President Abdel Fattah El Sisi.
Why is Republic Day celebrated?
India’s independence movement leaders, including Mahatma Gandhi, Jawarharlal Nehru among others, believed that the country should have a sovereign, democratic and republic government. But even after its independence, India remained under a monarchy as it was under British Commonwealth.
After Nehru became the first Prime minister of independent India and cobbled a cross ideological government, the country began drafting a new Constitution through a long and complex process that involved input from leaders of various political and social groups.
The Constitution took about three years of drafting and on January 26, 1950, it was officially adopted and India was declared a republic.
How is it celebrated in India?
India showcases its defence capacities on the day, displaying its state-of-the-art land, aerial and sea military equipment to the world.
It is a tradition to pay homage to the fallen soldiers at the war memorial.
The annual national event begins with a 21-gun salute. It is followed by the President hoisting the national flag and singing the national anthem in presence of thousands of citizens.
The celebrations begin with the winners of gallantry awards saluting the President in open military jeeps, followed by the display of fighter jets, missiles and military gadgets that roll down the broadway amid public cheers and jubilation.
A march-past of different regiments of the armed forces, police and paramilitary is followed. The President, who is also the Commander-in-Chief of the Indian Armed Forces, takes the salute.
For decades, soldiers wielding assault rifles and mounted on decorated camels have become a highlight of the parade.
The camel mounted soldiers guard the hostile Thar desert along the Pakistan border. Other military contingents showcase acrobatic skills and daredevils, the Indian Army perform stunts on motorbikes such as making human pyramids and riding bikes over fire rings.
Indian military dare devil stunt team performs during the full dress rehearsal for the upcoming Republic Day parade, in New Delhi on January 23, 2023. ( AFP)
The military display gives way to cultural and regional floats representing various states and cultural groups, as well as performances by musicians and dancers.
A vibrant parade comprising tableaux from different states showcases cultural diversity and history of various Indian states.
Thousands of schoolchildren perform dance and exhibit cultural activities on the broadway that connects the Iconic India Gate to the President’s House.
Smaller events, including paramilitary and police parades are organised in the state capitals where the state governors hoist the Indian flag and take the salute.
Who attends the Republic Day celebrations?
Over the last 74 years, many high profile global dignitaries have become part of India's republic day celebrations. The chief guest is usually the head of state or government of a country. The invitation is considered a great honour, as it is seen as an opportunity for the country to strengthen its relationship with New Delhi.
Indonesian President Sukarno was the first chief guest at the 1950 Republic Day. It was followed by King Tribhuvan Bir Bikram Shah of Nepal.
New Delhi invited Pakistan’s Governor-General Malik Ghulam Muhammad in 1955. Duke of Edinburgh Prince Philip attended the 1959 Republic day followed by Queen Elizabeth II in 1961.
Chief of Defence Staff Lord Louis Mountbatten, who was the viceroy of colonial India in 1947 and later its governor-general until 1948, returned as chief guest at the Republic Day in 1964.
Sheikh Mohamed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces at the time, Narendra Modi, Prime Minister of India, right, and Pranab Mukherjee, President of India, second right, attend the India Republic Day Parade in 2017, on Rajpath, New Delhi. Mohamed Al Hammadi / Crown Prince Court - Abu Dhabi
King Mohammed Zahir Shah of Afghanistan was the chief guest in 1967.
Nelson Mandela, the first South African President was the chief guest in 1995. Saudi King Abdullah bin Abdulaziz Al Saud in 2006, Russian President Vladimir Putin in 2007 and French President Nicolas Sarkozy in 2008.
Japanese Prime Minister Shinzo Abe in 2014 and US President Barack Obama in 2015. The UAE's President Sheikh Mohamed, who was Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces at the time, visited in 2017.
Former Brazilian President Jair Bolsonaro was the chief guest at the 2020 Republic Day. British Prime Minister Boris Johnson cancelled his visit due to Covid in 2021.
When: The one-off Test starts on Friday, May 11 What time: Each day’s play is scheduled to start at 2pm UAE time. TV: The match will be broadcast on OSN Sports Cricket HD. Subscribers to the channel can also stream the action live on OSN Play.
Starring: Abdullah Boushehri, Laila Abdallah, Lulwa Almulla
Rating: 3/5
Coal Black Mornings
Brett Anderson
Little Brown Book Group
Also on December 7 to 9, the third edition of the Gulf Car Festival (www.gulfcarfestival.com) will take over Dubai Festival City Mall, a new venue for the event. Last year's festival brought together about 900 cars worth more than Dh300 million from across the Emirates and wider Gulf region – and that first figure is set to swell by several hundred this time around, with between 1,000 and 1,200 cars expected. The first day is themed around American muscle; the second centres on supercars, exotics, European cars and classics; and the final day will major in JDM (Japanese domestic market) cars, tuned vehicles and trucks. Individuals and car clubs can register their vehicles, although the festival isn’t all static displays, with stunt drifting, a rev battle, car pulls and a burnout competition.
In the village of Mevagissey in southwest England the housing stock has doubled in the last century while the number of residents is half the historic high. The village's Neighbourhood Development Plan states that 26% of homes are holiday retreats. Prices are high, averaging around £300,000, £50,000 more than the Cornish average of £250,000. The local average wage is £15,458.
Red flags
Promises of high, fixed or 'guaranteed' returns.
Unregulated structured products or complex investments often used to bypass traditional safeguards.
Lack of clear information, vague language, no access to audited financials.
Overseas companies targeting investors in other jurisdictions - this can make legal recovery difficult.
Courtesy: Carol Glynn, founder of Conscious Finance Coaching
How tumultuous protests grew
A fuel tax protest by French drivers appealed to wider anti-government sentiment
Unlike previous French demonstrations there was no trade union or organised movement involved
Demonstrators responded to online petitions and flooded squares to block traffic
At its height there were almost 300,000 on the streets in support
Named after the high visibility jackets that drivers must keep in cars
Clashes soon turned violent as thousands fought with police at cordons
An estimated two dozen people lost eyes and many others were admitted to hospital
The specs: 2018 Chevrolet Trailblazer
Price, base / as tested Dh99,000 / Dh132,000
Engine 3.6L V6
Transmission: Six-speed automatic
Power 275hp @ 6,000rpm
Torque 350Nm @ 3,700rpm
Fuel economy combined 12.2L / 100km
If you go
The flights Etihad (www.etihad.com) and Spice Jet (www.spicejet.com) fly direct from Abu Dhabi and Dubai to Pune respectively from Dh1,000 return including taxes. Pune airport is 90 minutes away by road.
The hotels A stay at Atmantan Wellness Resort (www.atmantan.com) costs from Rs24,000 (Dh1,235) per night, including taxes, consultations, meals and a treatment package.
Navdeep Suri, India's Ambassador to the UAE
There has been a longstanding need from the Indian community to have a religious premises where they can practise their beliefs. Currently there is a very, very small temple in Bur Dubai and the community has outgrown this. So this will be a major temple and open to all denominations and a place should reflect India’s diversity.
It fits so well into the UAE’s own commitment to tolerance and pluralism and coming in the year of tolerance gives it that extra dimension.
What we will see on April 20 is the foundation ceremony and we expect a pretty broad cross section of the Indian community to be present, both from the UAE and abroad. The Hindu group that is building the temple will have their holiest leader attending – and we expect very senior representation from the leadership of the UAE.
When the designs were taken to the leadership, there were two clear options. There was a New Jersey model with a rectangular structure with the temple recessed inside so it was not too visible from the outside and another was the Neasden temple in London with the spires in its classical shape. And they said: look we said we wanted a temple so it should look like a temple. So this should be a classical style temple in all its glory.
It is beautifully located - 30 minutes outside of Abu Dhabi and barely 45 minutes to Dubai so it serves the needs of both communities.
This is going to be the big temple where I expect people to come from across the country at major festivals and occasions.
It is hugely important – it will take a couple of years to complete given the scale. It is going to be remarkable and will contribute something not just to the landscape in terms of visual architecture but also to the ethos. Here will be a real representation of UAE’s pluralism.
Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.
Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.
“Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.
Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.
“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.
Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.
From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.
Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.
BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.
Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.
Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.
“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.
Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.
“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.
“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”
The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”
