Year Ender 2023: Events that gripped India and the world this year
In 2023, a myriad of events unfolded, ranging from the record highs achieved by the stock market to India's triumphant lunar expedition and the G20 Summit. Globally, the Israel-Palestinian conflict garnered widespread attention, and nations grappled with the challenges of inflation. As we approach the end of the year, let's reflect on the significant headlines and stories that shaped 2023, both in India and around the world.
Indian stock market scales new highs: After a lacklustre 2022, domestic demand, capex cycle revival, and expectations of rate cuts fuelled a strong comeback for the equity benchmarks in 2023, propelling the Nifty and the Sensex to record highs. Despite concerns about a potential pullback due to frenetic buying in certain sectors, the Indian market sustained its record run, undeterred by global extremes, including the deepest crisis in the US banking sector since the Great Depression, the largest Middle East conflagration in over 50 years, global interest rates reaching decade-highs, and consumer sentiment hitting decade-lows. The resilience of the Indian market was notably attributed to the steadfast support of retail investors on Dalal Street.
2/15
COP28 tries fresh bid to tackle climate change: COP28 marked a historic departure from the traditional approach to climate change by addressing its root cause. When activists and diplomats gathered in Dubai for the UN climate summit in November, prospects for significant progress seemed dim amid renewed Middle East conflict and geopolitical tensions. The choice of the United Arab Emirates as the host country, a major petrostate, and its chairman, Sultan al-Jaber, head of the national oil company, raised concerns about potential greenwashing. Contrary to expectations, COP28 proved to be a turning point. In an unprecedented move, the world collectively committed to transitioning away from coal, oil, and natural gas — the primary culprits of global warming. The agreement, endorsed by the 198 parties to the UN Framework Convention on Climate Change, emphasised a just, orderly, and equitable shift from fossil fuels in energy systems.
3/15
BJP sweeps through heartland, Congress takes southern stand: December commenced with the announcement of new governments in Madhya Pradesh, Rajasthan, Chhattisgarh, Telangana, and Mizoram. The BJP-led National Democratic Alliance secured a dominant victory in Madhya Pradesh, while also overturning Congress-led governments in Rajasthan and Chhattisgarh. This triumph extended the NDA's governance to 17 states and Union Territories. Despite a disappointing counting day, the Congress managed to secure a consolation prize with its victory in Telangana. The party's robust performance, securing 64 seats and a 39.4% vote share, further solidified its presence in the South.
4/15
Heartbreak on the field: In November, the hearts of 1.4 billion Indians collectively sank as India's ODI World Cup dream slipped away despite being a formidable campaign. After 40 nights of invincibility following their initial triumph against Australia in Chennai, India stumbled on the 41st night to a disappointing defeat.
Trapped in tunnel: November 2023 will be etched in history for the monumental rescue mission to extricate 41 workers trapped inside a collapsed tunnel collapse in Uttarakhand. The nation held its breath until rescuers successfully reached the trapped workers, concluding a grueling operation lasting over 400 hours. The rescue tested the resolve, grit, and perseverance of all involved, with setbacks plaguing the operation. In the final stretch over the weekend, the drilling machine failed, leaving 14 "rat-hole miners" to dig through the last 12 metres and reach the trapped men.
6/15
Israel-Hamas War Begins: On October 7, Hamas initiated attacks on several Israeli cities, resulting in approximately 1,200 deaths and over 200 hostages. While over 100 hostages taken by Hamas have been released as part of ceasefire agreements, the conflict persists. The most recent casualty update from Gaza's health ministry reported 20,057 Palestinians killed and 53,320 wounded in the Israeli offensive, causing extensive destruction and displacing the majority of the enclave's 2.3 million population.
7/15
India hosts G20 Summit: Taking the helm of the G20, India assumed the role of host for a two-day summit in New Delhi on September 9-10, bringing together representatives from member and guest nations. The venue for the summit was the 'Bharat Mandappam' at the ITPO Convention Centre, Pragati Maidan. Under the theme 'Vasudhaiva Kutumbakam' or 'One Earth-One Family-One Future', the event saw notable achievements, including the African Union (AU) being granted permanent membership in the G20. The G20 adopted the New Delhi Leaders Summit Declaration, emphasising the importance of avoiding conflicts. The New Delhi Declaration called on all states to uphold international law principles, including territorial integrity and sovereignty and highlighted the significance of peaceful conflict resolution through diplomacy and dialogue.
8/15
Chandrayaan’s lunar touchdown: India rejoiced in July with the launch of Chandrayaan-3, its moon mission. The celebration continued into August when Chandrayaan-3 made history by achieving a successful lunar landing on August 23. The Lander executed a 'soft landing' on the Moon's south pole, making India the first and only country to achieve this feat.
Twitter rebranded as X Corp for a comprehensive 'Everything App': In a bold move, Elon Musk, the tech billionaire and owner of Twitter, unveiled transformative plans for the social media giant. As part of this, in July, a departure from its iconic bird logo as Musk rebranded the platform as 'X' with a heightened focus on expanding into payments, banking, and commerce.
10/15
OceanGate's Titan submersible faces tragic end: On June 18, the Titan submersible, operated by OceanGate, vanished in international waters in the North Atlantic Ocean near Newfoundland, Canada, carrying five individuals. Communication was lost 1 hour and 45 minutes into its descent to the Titanic shipwreck site. After a four-day search, the US Coast Guard confirmed the devastating news that all five passengers on board the Titan had perished due to a "catastrophic implosion" during its voyage. Debris from the submersible was discovered on the sea floor, approximately 500 meters away from the Titanic's bow. The ill-fated tourist expedition included British billionaire Hamish Harding, 58, Pakistani-born businessman Shahzada Dawood, 48, and his 19-year-old son Suleman, both British citizens, along with French explorer Paul-Henri Nargeolet, 77, and Stockton Rush, the founder and CEO of OceanGate Expeditions.
11/15
India gets a new Parliament building: In May, India received a new Parliament building, described as "embodying the culture, pride, and spirit of the entire nation". Prime Minister Narendra Modi's speech on May 28 marked the centerpiece and concluding note of this significant event, aiming to contextualise the moment within a broader national imagination. Situated adjacent to the existing Parliament House and constructed at an estimated cost of Rs 971 crore, the new building has the capacity to accommodate 888 parliamentarians in the Lok Sabha and 300 in the Rajya Sabha, representing an increase from the existing 543 and 250.
12/15
India overtakes China as the world’s most populous country: Officially surpassing China, India is now the most populous country globally, recording 142.86 crore people, compared to China's 142.57 crore. As per United Nations projections, India's population is anticipated to continue growing for the next three decades before entering a phase of decline.
13/15
Devastating earthquake strikes Turkey: From February 6, Turkey and Syria experienced a series of five consecutive earthquakes, resulting in the tragic loss of over 19,000 lives and leaving tens of thousands injured. The initial quake, with a magnitude of 7.8 centered in the Pazarcik district. The United Nations noted that this quake was the most powerful earthquake in the country in over 80 years. Later in the day, a second earthquake with a magnitude of 7.6, centred in the Elbistan district, further rattled the region. The seismic activity extended beyond Turkey's borders, with the earthquake felt in neighbouring countries such as Lebanon and Syria. A third earthquake, registering 6.0 on the Richter scale, struck Goksun, Turkey. India dispatched emergency relief materials, life-saving medicines, and equipment valued at Rs 7 crore to Turkey and Syria as part of ‘Operation Dost’ to provide aid.
14/15
Rahul Gandhi's Lok Sabha disqualification and reinstating: March witnessed the dominating headlines of elections in the Northeast and the disqualification of senior Congress leader Rahul Gandhi from the Lok Sabha. The Congress party faced a significant setback when Rahul Gandhi was disqualified from the Lok Sabha a day after a Surat court convicted him in a defamation case. A notice from the Lok Sabha Secretariat declared his disqualification from the House starting March 23, the day of his conviction. However, a sigh of relief came in August for the Congress as Rahul Gandhi, after the Supreme Court stayed his conviction in a 2019 criminal defamation case related to his comments on the 'Modi' surname, made a return to Parliament. The Lok Sabha Secretariat officially reinstated Rahul's membership, approximately four months after it was initially revoked.
