India Archives - Page 16 of 53 - Lokmarg

India, Saudi Arabia Agree To Expedite Free Trade Agreement Negotiations

By LokMarg 11th September 2023

India and Saudi Arabia on Monday agreed to expedite India-Gulf Cooperation Council (GCC) Free Trade Agreement (FTA) negotiations to further strengthen economic cooperation between the two countries.

Secretary of Consular, Passport and Visa Division (CPV) and Overseas Indian Affairs (OIA) Ausaf Sayeed on Monday said India, Saudi Arabia have “agreed to expedite the India-GCC FTA negotiations which they felt would act as a catalyst for further strengthening our economic cooperation between the two sides. They also agreed to strengthen cooperation in the FinTech field and explore trading in the local currencies.”

The CPV & OIA Secretary made the remarks during a special briefing on the State Visit of the Crown Prince and Prime Minister of Saudi Arabia Prince Mohammed bin Salman bin Abdulaziz Al Saud to India.

A Framework Agreement on Economic Cooperation between India and the Gulf Cooperation Council was signed on August 25, 2004. The Framework Agreement provided that both the parties shall consider ways and means for extending and liberalizing the trade relations and also for initiating discussions on the feasibility of a Free Trade Agreement (FTA) between them. The negotiations commenced with the GCC.

The GCC is India’s largest trading partner bloc with bilateral trade in FY 2021-22 valued at over USD 154 billion with exports valued at approximately USD 44 billion and imports of around USD 110 billion.

Commerce and Industry Minister Piyush Goyal and Secretary General, of Gulf Cooperation Council (GCC), Nayef Falah M. Al-Hajraf held a Joint Press Conference, in New Delhi in November 2022 to announce the intent to pursue negotiations on the India-GCC FTA.

Bilateral trade in services between India and the GCC was valued at around USD 14 billion in FY 2021-22, with exports valued at USD 5.5 billion and imports at USD 8.3 billion, according to a release issued by the Ministry of Commerce and Industry.

GCC countries contribute almost 35 per cent of India’s oil imports and 70 per cent of gas imports. India’s overall crude oil imports from the GCC in 2021-22 were about USD 48 billion, while LNG and LPG imports in 2021-22 were about USD 21 billion. Investments from the GCC in India are currently valued at over USD 18 billion.

Meanwhile, the Secretary (CPV & OIA) on Monday said India, and Saudi Arabia during the Crown Prince’s visit “extended their full support to the early implementation of the west coast refinery projects…The two sides agreed to set up a joint task force to help in identifying and channelling the 100 Billion Dollar investments which were actually promised by the Saudi side…to have a monitoring committee to ensure that the progress in these refinery projects is done as per the plan laid down by both sides.”

CPV and OIA secretary Ausaf Sayeed also said that the Saudi Crown Prince had congratulated India on the successful G20 and welcomed the launch of the India-UAE-Saudi-EU infrastructure corridor.

“The two sides expressed their happiness at the launching of the India-Middle East-Europe Corridor…the PM also congratulated the Kingdom on becoming a full member of the BRICS” he said.

In another big announcement the Saudi Ministry of investment said that they would soon open an office of the Saudi Sovereign Fund in India. The announcement was made after a meeting of Commerce Minister Piyush Goyal and Khalid Al Falih, Minister of Investment of Kingdom of Saudi Arabia

After the announcement Piyush Goel said “Gift city officials will be send to Saudi Arabia. Officials from FICCI, Invest India’s and Commerce Ministery will open

Investment and trade promotion office situated at Riyadh”

Khalid Al Falih the Minister of Investment of Kingdom of Saudi Arabia said Saudi Arabia will open an office in India for investment facilitation.

“We will send our officials to GIFT City to see the feasibility to open sovereign fund office in Mumbai or Delhi or GIFT City” he said.

The Saudi Crown Prince arrived in Delhi on a three-day visit and stayed back after the G20 Summit for his state visit. Saudi Arabia Crown Prince Mohammed bin Salman Al Saud and Prime Minister Narendra Modi on Monday held a bilateral meeting in New Delhi.

External Affairs Minister S Jaishankar, National Security Advisor Ajit Doval and others were present in the meeting. (ANI)

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Modi, Saudi Crown Prince Hold Bilateral Talks

By LokMarg 11th September 2023

Saudi Arabia Crown Prince Mohammed bin Salman Al Saud and Prime Minister Narendra Modi on Monday held a bilateral meeting in New Delhi.

External Affairs Minister S Jaishankar, National Security Advisor Ajit Doval and others were present in the meeting.

The Crown Prince and Prime Minister of Saudi Arabia, who arrived here on a three-day State visit to India attended the G20 Summit in the national capital over the weekend.

The two leaders will also co-chair the First Leaders’ Meeting of the Strategic Partnership Council. PM Modi and Saudi Arabia’s Crown Prince will review the progress made under the two Ministerial Committees of the Strategic Partnership Council i.e. the Committee on Political, Security, Social and Cultural Cooperation and the Committee on Economy and Investments Cooperation, according to a release from the Ministry of External Affairs.

PM Modi and Saudi Arabia’s Crown Prince will discuss all aspects of bilateral relations, including political, security, defence, trade and economic, cultural and people-to-people ties. Both the leaders will also discuss the regional and international issues of mutual interest.

The Saudi Crown Prince is accompanied by a high-level delegation, including Ministers and senior officials.

Prior to his meeting with PM Modi, the Saudi Arabian Crown Prince received a ceremonial reception at Rashtrapati Bhavan PM Modi and President Droupadi Murmu welcomed the Saudi Arabian Crown Prince at Rashtrapati Bhavan.

The Saudi Crown Prince then inspected a combined defence services Guard of Honour. In a brief statement, Mohammed bin Salman congratulated India for a successful G20 presidency.

Speaking to reporters, he said, “Well done India, a lot of announcements made that will benefit both our countries, the G20 countries and the whole world. So I want to say to India well done, and we will work to create a future for both countries.”

Later in the day, Saudi Arabia’s Crown Prince is scheduled to call on President Droupadi Murmu.

At the G20 Leaders’ Summit on Saturday, India, the United States, Saudi Arabia and the European Union announced a historic agreement to launch a mega India-Middle East-Europe shipping and railway connectivity corridor.

This is a historic and first-of-its-kind initiative on cooperation on connectivity and infrastructure involving India, UAE, Saudi Arabia, EU, France, Italy, Germany and the US.

Speaking at the G20 Summit, Prince Mohammed bin Salman said, “… We look forward to the integration of the initiative and the Economic Corridor project which is announced in this meeting. I would like to thank those who worked with us to reach this founding step to establish this important economic corridor…”

PM Narendra Modi said the mega-deal would give a sustainable direction to connectivity and sustainability across the world. Earlier, Saudi Arabia’s Crown Prince visited India on a State visit in February 2019 and the current visit will be his second State visit to the country.

“India and Saudi Arabia have historically close and friendly relations with extensive people-to-people contacts. The trade between both countries reached all-time high of USD 52.75 billion in FY 2022-23, the Ministry of External Affairs (MEA) said in an earlier press release.

India is Saudi Arabia’s second-largest trading partner whereas Saudi Arabia is India’s fourth-largest trading partner. Both countries also have a strong partnership in the area of energy, according to an MEA statement released earlier.

Saudi Arabia also hosted a three-day event in conjunction with the G20 Leader’s Summit to provide an immersive and interactive experience of the Kingdom’s leading projects in various fields.

The event titled ‘Media Oasis’ was organized on September 9 and will conclude on September 11 in New Delhi. The event aims to provide an immersive experience of Saudi Arabia’s leading projects in the sectors of tourism, entertainment, technology, culture and sports. The overarching theme of the exhibit is ‘Vision 2030’, an initiative by Saudi Arabia aimed towards the diversification of the country economically, socially, and culturally. (ANI)

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Successful G20 Summit Brings Cheers To Indian Stock Investors

By LokMarg 11th September 2023

Indian stock indices started Monday’s trade on a firm note, taking cues from the overall successful G20 Summit in New Delhi.

The consensus on the New Delhi declaration by all G20 member countries despite a divided house given the ongoing war in Ukraine and the West’s sanctions on Russia, the ambitious rail-port economic corridor deal to connect India-Middle East-Europe, and the launch of Global Biofuel Alliance on the summit sidelines seemed to have attracted investors to bet in the market.

Sensex and Nifty were 0.3-0.4 per cent higher from their Friday close of 66,861.16 points and 19,910.10 points, with all sectoral indices in the green. Last week, Indian stocks ended at a high to log their best week in over two months.

Companies involved in railways, ports and infrastructure are the top gainers today.

Moreover, foreign portfolio investors (FPIs) continuing to be net buyers in Indian stock markets for the sixth consecutive month until August supported market sentiment. They bought equity assets worth Rs 1.31 lakh crore cumulatively in 2023, data showed.

“The G20 Delhi Declaration and India’s diplomatic triumph can trigger a continuation of the positive market mood and momentum,” said VK Vijayakumar, Chief Investment Strategist at Geojit Financial Services.

“More importantly, the inclusion of the African Union in G20 and the proposed India-Middle East-Europe Corridor have positive economic and market connotations,” Vijayakumar added.

Citing an example, he said the inclusion of the African Union in G20 is positive news for Bharti Airtel which has a significant presence in Africa.

Going ahead, August inflation data in India and the US, expected to be released on Tuesday and Wednesday are likely to be the next market trigger for fresh cues.

Retail inflation in India rose sharply in July to 7.44 per cent and in the process breached RBI’s 6 per cent upper tolerance target, largely due to a sharp spurt in vegetable, fruit, and pulses prices. (ANI)

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TDP Leaders Protest Across Andhra After Chandrababu’s Arrest

By LokMarg 11th September 2023

Telugu Desam Party (TDP) workers held a protest on Monday in Chittoor against the arrest and judicial custody of former Andhra Pradesh CM and TDP Chief N Chandrababu Naidu.

The TDP activists pelted stones on a bus in Chittoor district as the Road Transport Corporation (RTC) bus came out of the depot. Protestors also set tires abloaze on the road.

Expressing solidarity with TDP leader Nara Chandrababu, who was arrested and sent to custody in the alleged skill development case, the TDP has called for a bandh across the state. The AP police have enforced Section 144 across the state.

On Monday State Police also tried to detain several party leaders including TDP MLC Kancherla Srikanth in Chittoor district as a preventive action to maintain law and order in the state.

Even as the police moved to detain TDP MLC Srikanth he staged a sit-in on the road and raised slogans against the Jagan Mohan Reddy government in the state.

Protests were also held in Tirupati and West Godavari districts against the arrest and judicial custody of Chandrababu Naidu.

Naidu was arrested by the Andhra Pradesh Criminal Investigation Department (CID) on Saturday in connection to an alleged corruption case.

He was later sent to judicial custody on Sunday for 14 days, till September 23, by the Anti-Corruption Bureau (ACB) court in Vijayawada in connection with the alleged Skill Development Corporation scam.

The case pertains to the establishment of clusters of Centers of Excellence (CoEs) in the state of Andhra Pradesh, with a total estimated project value of Rs 3300 crore, as per the officials. (ANI)

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Trudeau In India, Khalistani Separatists Hold ‘Referendum’ In Canada

By LokMarg 11th September 2023

Even as Canadian Prime Minister Justin Trudeau was in India for the G20 Leaders’ summit on Sunday, Khalistani secessionists held a so-called ‘Referendum’ in Surrey, British Columbia.

Designated terrorist Gurpatwant Singh Pannun, the founder of the banned Sikhs for Justice (SFJ), was present at the gathering of the Khalistani separatists held at the Guru Nanak Singh Gurudwara in Surrey, Vancouver.

In a provocative speech, Pannun used intimidating language against Prime Minister Narendra Modi, External Affairs Minister S Jaishankar and other leaders. He claimed that the separatists were challenging the territorial integrity of India.

Prime Minister Modi had on Sunday raised “strong concerns” about the continuous “anti-India activities” by extremist elements in Canada in his pull-aside meeting with Canadian PM Justin Trudeau.

Prime Minister Modi stated that it was essential for the two countries to cooperate in dealing with such threats.

“The Prime Minister conveyed our strong concerns about continuing anti-India activities of extremist elements in Canada. They are promoting secessionism and inciting violence against Indian diplomats, damaging diplomatic premises, and threatening the Indian community in Canada and their places of worship,” the Ministry of External Affairs (MEA) said in a statement.

It added, “The nexus of such forces with organized crime, drug syndicates and human trafficking should be a concern for Canada as well. It is essential for the two countries to cooperate in dealing with such threats”. Prime Minister Modi also mentioned that a relationship based on mutual respect and trust is essential for the progress of the India-Canada relationship.”

After his meeting with PM Modi, Trudeau in a news conference said that he had many conversations with PM Modi on the issue of Khalistan extremism and “foreign interference”, and Canada would always defend freedom of expression, and at the same time will always be there to prevent violence.

He further emphasized that the “actions of the few” do not represent the entire community or Canada. “Both the issues came up. Over the years, with PM Modi, we have had many conversations on both of those issues. Canada will always defend freedom of expression, freedom of conscience, and freedom of peaceful protest and it is extremely important to us. At the same time, we are always there to prevent violence and to push back against hatred,” Trudeau said.

He added, “I think on the issue of the community, it is important to remember that the actions of the few do not represent the entire community or Canada. The flip side of it, we also highlighted the importance of respecting the rule of law and we did talk about foreign interference”.

Earlier this month, Canadian authorities had withdrawn permission to hold the so-called ‘referendum’ at a public school in Canada after concerns were raised over promotional materials that featured pictures of a weapon.

The referendum was scheduled to be held at the Tamanawis Secondary School in Canada’s Surrey on September 10. (ANI)

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We Are Always There To Prevent Violence: Trudeau On Khalistan

By LokMarg 10th September 2023

Canadian Prime Minister Justin Trudeau said that he had many conversations with Prime Minister Narendra Modi on the issue of Khalistan extremism and “foreign interference”, and Ottawa will always defend freedom of expression, and at the same time will always be there to prevent violence.

He further emphasized that the “actions of the few” do not represent the entire community or Canada.

When asked about if the issues of Khalistan extremism and “foreign interference” did come up during discussions with PM Modi during the G20 Summit, he said, “Both the issues came up. Over the years, with PM Modi, we have had many conversations on both of those issues. Canada will always defend freedom of expression, freedom of conscience, and freedom of peaceful protest and it is extremely important to us. At the same time, we are always there to prevent violence and to push back against hatred”.

“I think on the issue of the community, it is important to remember that the actions of the few do not represent the entire community or Canada. The flip side of it, we also highlighted the importance of respecting the rule of law and we did talk about foreign interference,” he added.

Notably, multiple incidents of Khalistan extremism have been reported in Canada over the past few years.

In June this year, a tableau parade was organised in Canada celebrating the assassination of former PM Indira Gandhi, which drew severe criticism from New Delhi. In March this year, Khalistan supporters held a protest outside the Indian Embassy in Canada. They raised pro-Khalistan slogans and allegedly assaulted Indian-origin journalists present on the spot.

Multiple temples have also been vandalised in Canada by pro-Khalistani protestors, with anti-India graffitis.

Earlier in July, India also raised concerns over threats to its diplomats in posters being circulated in Canada with information on a pro-Khalistan rally to be held on July 8. The posters contained threats to the Indian Ambassador to Canada and the consulate general in Toronto.

The posters purportedly circulated by Sikh extremists have named Indian High Commissioner to Canada Sanjay Kumar Verma and the Consulate General of India, Toronto, Apoorva Srivastava accusing them of playing a role in the June killing of Khalistan Tiger Force chief and designated terrorist Hardeep Singh Nijjar in Canada. (ANI)

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India Is A Superpower, Ahead Of China Now: African Union Chairperson

By LokMarg 10th September 2023

President of the Union of Comoros and chairperson of the African Union (AU), Azali Assoumani, on Sunday said India is a superpower in terms of “inhabitance” and “ahead of China now”.

Assoumani said as the fifth superpower in the world, there was enough room for India in Africa. H

“India is the 5th superpower in the world so there is enough room for India in Africa. We also know that India is so powerful that it went to space. So we just need to coordinate…India is a superpower in terms of inhabitance, India is ahead of China now,” the AU chairperson said.

He also praised India for advancements in space research.

Opening up on the moment when Prime Minister Narendra Modi hugged him after formally inducting the African Union into the G20 family, the AU Chairperson said it was an emotional one for him.

He added that he thought there would be a debate before a decision is arrived at but the African Union was announced as part of the G20 family at the very outset of the two-day summit on Sunday.

“I was about to cry. It was a great emotion for me. Because actually, we thought that there was going to be a debate and then a decision would be taken but at the very beginning of the Summit it was announced that we were a member,” he said.

In his opening remarks at the 18th G20 Leaders’ Summit on Saturday, PM Modi invited the African Union, represented by Assoumani, to take a seat at the table of G20 leaders as a permanent member.

The African Union chairperson expressed his gratitude to the G20 member countries for the historic inclusion of the bloc in the G20 family.

Assoumani took to his official handle on ‘X’ to post, “The G20 has just ratified, through the voice of the Prime Minister of India, @narendramodi, the admission of the @_AfricanUnion into its fold. On behalf of the African continent, I sincerely thank all the member countries of the @g20org for this historic admission.”

On Sunday, PM Modi held a meeting with Assoumani, congratulating him on the African bloc joining the G20 family.

Taking to his official handle on ‘X’, PM Modi posted, “Had a very fruitful meeting with @PR_AZALI. Congratulated him once again on @_AfricanUnion joining the G20 family. Comoros is vital to India’s SAGAR Vision. Our deliberations included ways to enhance cooperation in areas like shipping, trade and more.”

Earlier in the day, PM Modi called the inclusion of the African Union in the G20 a “significant stride” towards a more inclusive global dialogue.

He stated that India was looking forward to collaborative efforts that benefit the entire world.

African Union is a union consisting of 55 member states in Africa. The move to include the African Union in the G20 grouping was proposed by PM Modi earlier this June. (ANI)

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Chandrababu Sent To 14-Day Judicial Custody

By LokMarg 10th September 2023

Telugu Desam Party (TDP) chief N Chandrababu Naidu on Sunday sent to 14 days judicial custody in connection with an alleged Skill Development Corporation scam.

Vijayawada ACB court Judge Himabindu read out the judgment on former CM Chandrababu’s case.

The judge ordered the remand of Naidu for 14 days to judicial custody and suggested to take former CM to Rajahmundry central jail.

Earlier on Sunday morning, Naidu was produced before the Anti-Corruption Bureau (ACB) court in Vijayawada in connection with an alleged Skill Development Corporation scam.

According to the officials, the former CM was produced before the court within 24 hours of his arrest.

On Saturday, Chandrababu Naidu was arrested by the Andhra Pradesh Criminal Investigation Department (CID) in connection to an alleged corruption case.

According to officials, the case pertains to the establishment of clusters of Centers of Excellence (CoEs) in the state of Andhra Pradesh, with a total estimated project value of Rs 3300 crore.

The agency officials also claimed that the alleged fraud has caused a huge loss to the state government in excess of Rs 300 crores.

As per the CID, the investigation has revealed serious irregularities such as before any expenditure by private entities, the then state government provided an advance of Rs 371 crores, representing the entire 10 per cent commitment by the government.

Most of the money advanced by the government was diverted to shell companies through fake invoices, with no actual delivery or sale of the items mentioned in the invoices, CID officials said.

In its remand report, the CID has said that according to the investigation so far, the total amount spent by private entities on six skill development clusters is sourced exclusively from funds advanced by the Government of AP and AP Skill Development Center, totalling Rs 371 crores. (ANI)

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India vs Pak: Cut-Off Time Extended To 90 Min

By LokMarg 10th September 2023

The cut-off time for the rain-curtailed India and Pakistan clash at the Asia Cup on Sunday has been extended from 60 minutes to 90 minutes along with the possibility of a 20-over run-chase scenario as well.

As per the latest updates, the cut-off time for the game for time is now 12 am (local time) and the 20-over clash between the two sides can begin as late as 10.36 pm (local time), ESPNcricinfo reported, adding that the next inspection will take place at 7.30 pm.

Pakistan skipper Babar Azam and Indian head coach Rahul Dravid were on the field, inspecting the puddles of waterIndia left by the rain.

Earlier in the day, for the second time this Asia Cup, rain played spoilsport in a clash involving traditional rivals India and Pakistan, as the blockbuster Super Four clash at the R Premadasa Stadium in Colombo was halted after heavy showers forced the ground staff to bring on the covers.

India, given a flying start by the opening pair of skipper Rohit Sharma and Shubman Gill, were sitting pretty at 147 for the loss of 2 wickets when the heavens intervened.

However, before the teams were forced back to the dressing rooms, Rohit and Shubman put on a show smacking the Pakistani bowlers to all corners in a whirlwind partnership of 121 runs.

Shaheen Shaf Afridi and Shadab Khan claimed a wicket apiece to bring the Pakistanis back into the game after the India openers sent them on a leather hunt in the initial overs.

Rohit (56) fell to a soft dismissal off Shadab while Gill (58) perished in the next over, failing to read a slower one from Shaheen and lobbing a catch to Agha Salman at extra cover.

Virat Kohli and KL Rahul then came together and looked to have stabilised the innings when rain interrupted play. Kohli (8)* and KL Rahul (17)* were undefeated at the crease when the umpires called a halt to the proceedings.

Earlier, in the tournament, both teams squared off in the group stage, with India posting a total of 266 in the first innings. However, rain washed out the game thereafter.

However, unlike the last clash, a reserve day was announced for the Super Four clash by the Asian Cricket Council (ACC) on Friday.

If there is no further action in the Super Four clash on Sunday, the match will resume on Monday from the point where it was halted.

India will resume their innings from 147/2 in 24.1 overs, with Virat and Rahul unbeaten. (ANI)

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Heavy Rains Drench Mathura, Triggering Widespread Waterlogging

By LokMarg 10th September 2023

The picturesque city of Mathura, known for its rich cultural heritage, has found itself submerged in a deluge of water due to heavy rainfall over the weekend. Several parts of the city grappled with severe waterlogging, causing inconvenience to residents and commuters alike.

The incessant downpour began over the weekend, saturating the region and overwhelming the drainage systems. As a result, numerous low-lying areas across Mathura have been inundated, making travel and daily activities extremely challenging for locals.

Meanwhile, several areas in Delhi, including Safdarjung, Palam airport, Rajghat, Vasant Kunj, Munirka, Narela, and others, also experienced light to moderate rain on Saturday night, which continued through Sunday morning.

While this rainfall provided some relief from the recent sultry conditions, it also triggered waterlogging problems in low-lying areas.

The India Meteorological Department (IMD) has predicted further rainfall in Delhi and its surrounding regions in the coming days. This forecast brings hope for more respite from the oppressive humidity that has prevailed in the national capital in recent weeks.

Moreover, IMD has extended its rain forecast to several districts in Haryana and Uttar Pradesh. The districts listed in the IMD’s forecast include Mattanhail, Jhajjar, Farukhnagar, Kosali (Haryana), Sikandrabad, Bulandshahar, Shikarpur, Pahasu, Debai, Narora, Atrauli, Iglas, Raya, Hathras, Mathura, Jalesar, Sadabad, Agra, and Jajau in Uttar Pradesh. These regions are expected to experience rain within the next couple of hours.

As the monsoon season continues, residents in the affected areas are advised to exercise caution and follow safety guidelines to stay safe amidst the inclement weather. (ANI)

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