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India-Taiwan bilateral trade to touch $6 billion in 2017

Nov 24, 2017

India-Taiwan bilateral trade is set to touch $6 billion by end of 2017, Taiwan External Trade Development Council (TAITRA) Chairman James C F Huang said here on Thursday.
 
Interacting with DH as part of the Smart Asia 2017 expo, Huang said the bilateral trade touched $5 billion in 2016. From January to September this year, it already registered a 35% growth. We will achieve $10 billion worth of trade within a couple of years, he said.
 
Huang said Taiwan is giving primacy to its relationship with India as part of the New South Policy. We have increased our investment in many countries, especially in India, Malaysia, Indonesia and Singapore, he said.
 
According to a statistics, Taiwanese investment from these countries was $229.35 million for the first 10 months of the year, marking a 22.85% year-on-year increase, with 462 investment projects.
 
Commenting on India, he pointed out that the country is  extremely important for Taiwan as it has 1.3 billion people. India and Taiwan have developed good relation over a period. Taiwan is ready to collaborate with India in enhancing electronic manufacturing capability, he said.
 
Recently Taiwanese electronic and computer association visited Bengaluru and explored opportunity to develop industrial parks. We are actively considering developing industrial parks in India as part of Make In India initiatives. We are also ready to  start petrochemical park in India, he said.
 
Huang said over a period of time Taiwan has developed good solutions for smart cities. Taiwan is the best partner for India in the smart city business. That is why we are here, said.  
 
Besides smartcity projects, Taiwan is ready to collaborate with India in electric vehicle and food processing also. India is planning to phase out cumbustion engines by 2030 and moving to electric vehicles. We have an entire ecosystem in this business and can help India, he added.
 
    
Source: Deccanherald



Afghans envoy meets Punjab chief minister

Nov 24, 2017

Afghanistans Ambassador to India Shaida Mohammad Abdali today met Chief Minister Amarinder Singh and discussed the potential for promoting business and trade between the war-torn country and Punjab.
 
Abdali proposed the revival of the Amritsar-Kabul air corridor and a pilot project for 1,500 tonnes of cargo trade to further boost Afghanistans traditionally close ties with Punjab.
 
Singh said the two share historical relations and presented to the envoy a book Baba Ala Singh by Kirpal Singh, founder of Patiala state.
 
The book traces the Afghan connection with Punjab, which Amarinder showed keenness to strengthen further through trade and other avenues.
 
The Indian and Afghan association goes back to centuries and we need to strengthen it further to complement each others progress, Singh said, pointing out that both Punjab and Afghanistan had a similar economy, focused on agriculture.
 
The ambassador suggested opening a trade corridor through a cargo trade pilot project with pharmaceutical goods, engineering products, woolens, dairy items, fresh and dry fruits, meat, processed food and milk powder.
He also suggested that Punjab should import meat products from Afghanistan.
 
The chief minister expressed interest in the proposal and directed his officials to hold further discussions with Afghanistan and work out the modalities for the pilot project, which would contribute to Punjabs efforts to promote industry in the state.
 
The Afghan envoy, who has already visited Amritsar and plans to go to Sirhind tomorrow, also saw huge potential for education for his countrys youth in Punjab.
 
There were at present around 16,000 Afghan students in India, he said, adding that he found the university education in Punjab to be good. 
    
Source: India Today



India-Bahrain trade has surged by almost 20% since last year

Nov 24, 2017

India-Bahrain trade has surged by almost 20 per cent since last year with the total value for just the first nine months of the year having already surpassed $1 billion, Indian Ambassador Alok Kumar Sinha has said.
 
By comparison it was $981 million for the whole of last year and growth of almost 20pc is indicative of the mutual confidence of investors and traders in the two countries, he told the GDN on the sidelines of a reception at India House yesterday.
 
The ambassador hosted the reception for a visiting Indian business delegation from the PHD Chamber of Commerce and Industry led by president Anil Khaitan.
 
I’m very happy to note that there is an increase in the exchange of business delegations between the two countries and that this delegation is visiting Bahrain at a very important juncture.
 
India and Bahrain both seem to be doing better despite the challenges in the global economy and an environment has been created to further boost trade and investment.
 
    
Source: Zawya.com



ASEAN connect: Sushma Swaraj holds meet with Governors of northeastern states

Nov 24, 2017

As India boosts its trade, connectivity and people-to-people ties with southeast Asia under the Act East Policy, External Affairs Minister Sushma Swaraj on Thursday held an interactive meeting with the Governors of the northeastern states and the Lieutenant Governor of Andaman and Nicobar Islands. 
 
Stating that acting east through India's northeastern region, External Affairs Ministry spokesperson Raveesh Kumar tweeted that Sushma Swaraj chaired the interactive discussion with the Governors of the northeastern states and the Lieutenant Governor of Andaman and Nicobar Islands to synchronise the views of the northeastern states into the Asean-centric Act East Policy. 
 
The interactive discussion will feed into the deliberations at the Asean-India Commemorative Summit 2018 marking 25 years of Asean-India dialogue relations featuring an enhanced role for the northeastern region, India's gateway to the Asean, Kumar said. 
 
This year marks the silver anniversary of the dialogue partnership between India and the 10-member Association of Southeast Asian Nations (Asean). 
 
 
To mark the conclusion of a series of events celebrating this milestone, an Asean-India Commemorative Summit will be held in New Delhi on January 25, 2018, which is expected to be attended by the leaders of Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. 
 
These leaders will also attend next year's Republic Day celebrations collectively as chief guests. 
 
    
Source: The Economic Times



Growing role for India in Australia's new foreign policy document

Nov 24, 2017

Australia has embraced the Indo-Pacific in its new foreign policy white paper, with a growing role for ties with India and the quadrilateral with Japan, US and India .
 
 
Releasing the white paper, Malcolm Turnbull, Australian Prime Minister said his country was attempting to shape the Indo-Pacific region by linking up with countries who share our interests and commitment to rules-based institutions.
 
However, the support for the quad is not uniform in the Australian political system. The opposition Labour party has clarified they had not yet signed off on the quadrilateral which is bound to act as headwinds for Turnbull's foreign policy - which appears predicated on maintaining close economic and commercial ties with China but strategic and security closeness with US, Japan, and even India.
 
A good example is when officials of Japan, India, the US and Australia met in the margins of the East Asia Summit in Manila earlier this month . I discussed the importance of this initiative with Prime Minister Modi in Manila at our meeting. Another was my meeting with Prime Minister Phuc in Vietnam earlier this month, where we agreed to work towards signing a strategic partnership, the Australian PM said.
    
Source: Times of India



Govt imposes $850/tonne MEP on onion to boost local supplies

Nov 24, 2017

The government today imposed a minimum export price (MEP) of USD 850 per tonne on onion to increase domestic supplies and check rising prices. 
 
MEP is the minimum rate below which exports are not allowed. Onion MEP was scrapped in December 2015. 
 
In a notification, the Directorate General of Foreign Trade (DGFT) said: Export of onion...shall be permitted only on Letter of Credit (LC) subject to a MEP of USD 850 per tonne till December 31, 2017.
 
Export of all varieties of onions will be allowed only on LC, it added.
 
Concerned over the rise in onion prices, Consumer Affairs Minister Ram Vilas Paswan in August had sought that MEP be imposed on its exports by the commerce ministry. He also sought the removal of sops on export of the kitchen staple.
 
 
Concerned over the rise in onion prices, Consumer Affairs Minister Ram Vilas Paswan in August had sought that MEP be imposed on its exports by the commerce ministry. He also sought the removal of sops on export of the kitchen staple. 
 
Retail onion prices, which have shot up to Rs 50-65 per kg in most cities, have come under pressure due to tight domestic supplies.
The government has asked state-run MMTC to import 2,000 tonnes of onion, while other agencies Nafed and SFAC to buy onions locally and supply in consuming areas.
 
 
    
Source: The Economic Times



India, Sweden to work closely in promoting clean technologies

Nov 24, 2017

 
India and Sweden expect to work closely in adopting and promoting green technologies where small and medium enterprises would play critical role.
 
Addressing the India–Sweden Innovations’ Accelerator Programme here today, Niklas Eriksson, First Secretary, Section for Trade, Economic and Cultural Affairs, Embassy of Sweden said India has strong presence of large Swedish companies which are very old and offering direct and indirect employment opportunities to about 1 million persons.
 
He highlighted the need for small and medium companies of Sweden to invest in India and engage in new clean technologies.
 
Transfer of clean tech
 
India–Sweden Innovations’ Accelerator Programme aims to facilitate transfer of innovative clean technologies and solutions from Sweden to India and provide a bridge for commercial Swedish–Indian innovation cooperation.
 
In the last four years, the programme has facilitated interaction between more than 45 Swedish companies and 300 Indian companies through workshops and B2B meetings.
 
Through this initiative, 30 projects have been implemented in different companies in India. Taking this initiative forward, a one day workshop on Innovative clean technologies and B2B meeting with Swedish delegation was organised here today.
 
Ludvig Lindström, International Coordinator, Swedish Energy Agency said Swedish Energy Agency is working with various stakeholders in India in promoting clean technologies and is engaged in smart cities, smart grid and National Solar Mission, which are the priority areas in India.
 
Anil Kumar V Epur, Past Chairman, CII Southern Region said CII is committed to offer the latest technologies to Indian industry and to make this happen will work closely with various companies in Sweden.
 
The delegation comprising of 8 clean tech companies focused on high efficiency solar concentrators, portable power quality analyzers, fully integrated power quality management system, low-power pumping system handling powered by a solar system, among other areas.
    
Source: The Hindu Business Line



India keen to strengthen economic ties with Sri Lanka

Nov 24, 2017

India on Thursday reiterated its firm commitment to partner with Sri Lanka on projects of mutual interest.
 
India is keen to strengthen the economic pillar of its relationship with Sri Lanka. There is a lot that can be achieved, given the synergy and economic complementarities, President Ram Nath Kovind said at a meeting with visiting Lankan Prime Minister Ranil Wickremesinghe at Rashtrapati Bhavan.
 
Earlier, Wickremesinghe met Prime Minister Narendra Modi and discussed ways to further deepen ties between the two nations.
 
In the morning, Wickremesinghe attended the Fifth Global Conference on Cyber Space here which was addressed by Modi.
 
Neighbourhood first, External Affairs Ministry spokesperson Raveesh Kumar tweeted after the meeting between the two leaders at the Hyderabad House. He added that both countries “share strong and close relations based on mutual respect.
 
The spokesperson refused to go into the details of the discussions between the two leaders, saying all relevant issues, including developmental projects, were discussed.
 
Sri Lanka is one of the major recipients of development credit given by India, with a total commitment of around $2.63 billion, including $458 million as grants.
 
Indian aid includes development projects in areas like education, health, transport connectivity, small and medium enterprise development and training in many parts of the country through grant funding.
    
Source: The Statesman



Sri Lanka PM meets PM Modi today, to hold talks on Mattala airport, bilateral ties

Nov 24, 2017

With an eye on China, Sri Lankan Prime Minister Ranil Wickremesinghe will meet Prime Minister Narendra Modi on Thursday, days ahead of the joint venture between China Merchants Port Holding Company and Sri Lanka Ports Authority (SLPA) starts operations of Hambantota Harbour on December 8.
 
Wickremesinghe, who arrived in Delhi on Wednesday, was received by Indian envoy to Sri Lanka Taranjit Sandhu. He will also meet President Ram Nath Kovind, besides attending a conference on cyber-security. He leaves on Friday.
 
 The meeting assumes significance since India has expressed interest in investing in Mattala airport in Hambantota district. Once finalised, it will be a strategic investment for New Delhi to enter a project which has been Chinese turf on Lankan soil.
 
Described as the world’s emptiest airport by Forbes, the Mahinda Rajapaksa International Airport in Mattala was built by the Chinese during the previous President’s regime. The present government, led by Sri Lankan President Maithripala Sirisena and PM Wickremesinghe, has found it difficult to run the airport. In August this year, India had proposed to operate, manage, maintain and develop the airport through a joint venture, with India holding 70 per cent of the equity for 40 years. India is supposed to invest $205 million, with Sri Lanka contributing $88 million.
    
Source: Indian express



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