Iran labels Canadian Navy a terrorist entity in retaliation for IRGC ban
Tehran: Iran designated the Royal Canadian Navy as a terrorist organisation, escalating tensions with Ottawa nearly a year after Canada blacklisted Iran’s Islamic Revolutionary Guard Corps (IRGC).
In a statement issued on Tuesday by the Iranian foreign ministry, Tehran said the move was taken “within the framework of reciprocity” in response to Canada’s decision to label the IRGC as a terrorist group in 2024. The ministry described Ottawa’s action as being “contrary to the fundamental principles of international law,” and announced that the Canadian naval force would now be treated in the same manner. No details were provided on the practical consequences of the designation.
Canada formally listed the IRGC as a terrorist organisation on June 19, 2024, a step that barred its members from entering the country and prohibited Canadians from engaging in any dealings with the force or its affiliates. The decision also enabled authorities to seize any assets linked to the IRGC or its members held within Canada, as reported by AFP news.
Ottawa has defended the action by claiming that the IRGC consistently violates human rights and threatens the international rules-based order. A major contributing element to the designation, according to Canadian officials, was the downing of Ukraine International Airlines Flight PS752 in January 2020. Shortly after taking off from Tehran, the plane was shot down, killing all 176 passengers, including 85 nationals and permanent residents of Canada. The aircraft was wrongly designated as a hostile target, according to the IRGC, which later admitted responsibility.
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India surpasses Japan to become world's 4th largest economy, says govt
New Delhi (PTI): India has surpassed Japan to become the world's fourth-largest economy with a size of USD 4.18 trillion, and is poised to overtake Germany to become the third-largest by 2030, the government has said.
With continuing good growth numbers, India is also the world's fastest-growing major economy.
India's real GDP grew 8.2 per cent in the second quarter of 2025-26, up from 7.8 per cent in the first quarter and 7.4 per cent in the fourth quarter of the last fiscal.
"With GDP valued at USD 4.18 trillion, India has surpassed Japan to become the world's fourth-largest economy, and is poised to displace Germany from the third rank in the next 2.5 to 3 years with a projected GDP of USD 7.3 trillion by 2030," according to a government release providing a snapshot of reforms in 2025.
The US is the world's largest economy, and China occupies the second spot.
The growth momentum further surprised on the upside, with GDP expanding to a six-quarter high in Q2 of 2025-26, reflecting India's resilience amid persistent global trade uncertainties, it said.
Domestic drivers, led by robust private consumption, played a central role in supporting this expansion.
The release further said international agencies have echoed this optimism and cited projections made by various entities.
The World Bank has projected a 6.5 per cent growth in 2026; Moody's expects India to remain the fastest-growing G20 economy with a growth of 6.4 per cent in 2026 and 6.5 per cent in 2027.
The IMF has raised its projections to 6.6 per cent for 2025 and 6.2 per cent for 2026; the OECD forecasts 6.7 per cent growth in 2025 and 6.2 per cent in 2026.
Also, S&P anticipates a growth of 6.5 per cent in the current fiscal and 6.7 per cent in the next; the Asian Development Bank has lifted its 2025 forecast to 7.2 per cent; and Fitch has raised its FY26 projection to 7.4 per cent on stronger consumer demand.
"India is among the world's fastest-growing major economies and is well-positioned to sustain this momentum. With the ambition of attaining high middle-income status by 2047- the centenary year of its independence, the country is building on strong foundations of economic growth, structural reforms, and social progress," the government said.
The release also highlighted that inflation remains below the lower tolerance threshold, unemployment is on a declining trajectory, and export performance continues to improve.
Furthermore, financial conditions have stayed benign, with strong credit flows to the commercial sector, while demand conditions remain firm, supported by a further strengthening of urban consumption.
