Following days of escalating tensions between the two nuclear-armed neighbors, Indian Army officials confirmed that three troops – an officer and two soldiers, to be more precise – had been gunned down by Chinese forces during a “violent faceoff” in Galwan Valley in the Ladakh region, which rests along the country’s border with China on Monday night.
A statement from the Indian Army says both sides were meeting to diffuse tensions building up on the border in the last several weeks. Other reports indicate the soldiers weren’t shot but had been killed during a rock-throwing melee reminiscent of another border incident back in May, where both sides reported injuries.
A statement from the Indian Army says both sides were meeting to diffuse tensions building up on the border in the last several weeks. Other reports indicate the soldiers weren’t shot but had been killed in a rock-throwing melee — very similar to what happened in May along the border when both sides reported injuries.
“The loss of lives on the Indian side includes an officer and two soldiers,” the statement said. “Senior military officials of the two sides are currently meeting at the venue to defuse the situation.”
This is the first confrontation between both sides in which soldiers have died since the mid-1970s. China also confirmed that it “suffered causalities in a border clash with India,” as the Global Times affirmed.
Chinese foreign ministry spokesperson Zhao Lijian said Tuesday that a “clash broke out” between China and India’s border defense troops in the Galwan Valley. He said, “Indian troops crossed the border for illegal activities and launched provocative attacks against Chinese personnel, and the Chinese side has lodged a strong protest and solemn representation.”
For the last month, both sides have been beefing up their defenses along the Himalayan border.
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China has been more assertive in defending its borders and territorial claims in a post-corona world. In recent months, Beijing has launched war drills in the South China Sea and flew military planes around Taiwan.
The border clash resulted in a decline in the rupee and Indian sovereign bonds.
Discussing the impact on local markets, Harish Agarwal, a trader with FirstRand Bank in Mumbai, told Bloomberg, the “news has rattled the market sentiment and that’s getting reflected in market moves.”
USD/INR rises to 76.26, though it faded to 76.08-76 immediately after the spike
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