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Donald Trump's presence in PM Modi's Houston rally; New York bilateral meet to boost partnership

Sep 17, 2019

Indo-US partnership is expected to get a big boost next week with US President Donald Trump attending PM Narendra Modi’s Houston rally for Indian Americans, first such occasion for any US Head of State, besides a possible bilateral meeting between the two leaders in New York.
 
The White House on Sunday (India time early Monday) announced that U.S. President will also address the gathering – expected to be in the “tens of thousands.
 
It will be a great opportunity to emphasize the strong ties between the people of the United States and India, to reaffirm the strategic partnership between the world’s oldest and largest democracies, and to discuss ways to deepen their energy and trade relationship, a statement from the White House Press Secretary said. Over 50,000 people have registered for the event, which will be held at Houston’s NRG stadium.
 
    
Source: Economictimes.indiatimes



Govt to cut insurance premium rates for small exporters: Piyush Goyal

Sep 17, 2019

The commerce ministry will soon approach the Cabinet for reduction in insurance premium rates to 0.6 per cent for small exporters having an outstanding limit of less than Rs 80 crore, Union Minister Piyush Goyal said on Monday. The commerce and industry minister said the premium rate is 0.72 per cent.
 
Further, premium rates for exporters having outstanding limit of over Rs 80 crore will be streamlined with a view to help them.
 
Such exporters will be divided into categories such as non-gold, jewellery and diamond, among others.
 
This is being done as insurance claim ratio for gold, jewellery and diamond players are high and that impacts banks' lending ability.
 
    
Source: Economictimes.indiatimes



India, US in talks to resolve trade issues: Piyush Goyal

Sep 17, 2019

India and the US are in talks to resolve certain issues but whether the two sides will announce any trade deal would be decided when Prime Minister Narendra Modi meets President Donald Trump this week, commerce and industry minister Piyush Goyal said on Monday.
 
We are in continuous dialogue with the US over the last several months on many issues. We have an open mind and are looking at several sectors, he said at an event. “We are looking at an early resolution of many issues... Whether a deal will be announced or not that is up to the prime minister and the president to decide.
 
Modi will visit the US from September 21-27, during which he would address the annual UN General Assembly session and have a series of bilateral and multilateral engagements in New York. Trump will attend Modi’s Houston rally for Indian Americans later this week.
 
    
Source: Economictimes.indiatimes



2nd integrated checkpost on Nepal border to open soon

Sep 17, 2019

Close on the heels of completing the India-Nepal oil pipeline, India is nearing completion of the Integrated Check-Post (ICP) at Jogbani (Bihar)-Biratnagar border gate with Nepal.
 
This is the second ICP on Nepal border after Raxaul-Birgunj. The Jogbani-Biratnagar is the second largest gate in terms of trade volume.
 
The ICPs on India-Nepal gates have mirror facilities on either side of the border with modern passenger and cargo terminals. Apart from facilitating a booming $7-billion bilateral trade, such facilities ensure better border management by sanitised movement of both passenger and cargo. As in Birgunj, India is sponsoring the Nepalese side of the infrastructure at Biratnagar through the development partnership wing of the Ministry of External Affairs.
 
On the flipside, while the Indian side of the facility at Jogbani was ready in 2016, lack of co-operation from Nepal and contractor related issues delayed completion of the Biratnagar facility. According to sources, the wait is expected to be over soon as over 90 per cent of the Biratnagar facility is ready.
    
Source: The Hindu Businessline



India Bangladesh coastal shipping pact may be thrown open to larger ships

Sep 17, 2019

India is seeking to remove the size restriction on vessels plying between India and Bangladesh under the coastal shipping agreement signed between the two neighbours in June 2015 as the pact comes up for renewal next year.
 
The coastal shipping pact currently permits vessels of up to 6,000 gross tonnage (GT) to ply due to size restrictions mandated by the River-Sea Vessel (RSV) rules framed separately by India’s Directorate General of Shipping and the Department of Shipping, Bangladesh. This is because, Article II of the pact, signed on June 6, 2015, covers only Indian and Bangladeshi flag vessels that comply with RSV or equivalent standards to run services between the two countries.
 
The RSV category was agreed upon by both the countries because of its lower construction and operation costs without compromising on the safety of the vessel.
    
Source: The Hindu Businessline



Expect 30% rise in export credit by March: Piyush Goyal

Sep 17, 2019

The government expects a 30% rise in export credit disbursals by the end of 2019-20 through greater insurance coverage of exporters and easier inspection norms.
 
The commerce and industry ministry will soon approach the Cabinet for reduction in insurance premium rates to 0.6% for small exporters having an outstanding limit of less than Rs 80 crore.
 
For accounts with limits below Rs 80 crore, the premium rates will be moderated to 0.6% annum and for those exceeding Rs 80 crore, it will be 0.72% annum for the same enhanced cover, commerce and industry minister Piyush Goyal said while sharing the details of the new NIRVIK (Niryat Rin Vikas Yojna) or Export Credit Insurance Scheme that Export Credit Guarantee Corporation of India has launched.
 
    
Source: Economictimes.indiatimes.com



India, Slovenia sign seven MoUs to boost bilateral ties

Sep 17, 2019

The President of India Ram Nath Kovind and his Slovenian counterpart Borut Pahor have agreed to strengthen multilateralism and promote multi-polar world. President Ram Nath Kovind reached Ljubljana, Slovenia in the final leg of his visit to – Iceland, Switzerland and Slovenia. Ram Nath Kovind’s visit is the first-ever presidential visit from India to Slovenia.
 
President Ram Nath Kovind held a bilateral meeting with President of Slovenia Borut Pahor at Lubliyana, the capital city of Slovenia. He thanked Slovenian President for supporting India in its fight against cross border terrorism. Slovenian President, in a statement, expressed his commitment for greater ties with India.
    
Source: Jagranjosh



Muraleedharan holds talks with Iraqi leadership to strengthen ties

Sep 17, 2019

Minister of State for External Affairs V Muraleedharan on Monday held talks with Iraqi President Barham Salih and Prime Minister Adel Abdul Mahdi, and discussed ways to strengthen bilateral ties.
Muraleedharan called on President Salih and conveyed India''s commitment to deepen relations with Iraq.
 
He appreciated India''s economic progress and welcomed its participation in rebuilding Iraq, the minister tweeted.
 
"Discussed measures to further strengthen India-Iraq relations and regional developments of mutual interest with Dr Adel Abdul Mahdi, Hon''ble PM of Iraq earlier today," he tweeted.
 
On Sunday, Muraleedharan held talks with Deputy Foreign Minister of Kuwait Khalid Sulaiman Al-Jarallah and discussed entire gamut of bilateral relations and regional developments of mutual interest.
    
Source: outlookindia.com



NDDB set to launch second phase of National Dairy Plan

Sep 17, 2019

As the phase-1 of the ambitious National Dairy Plan (NDP-1) comes to an end this November, the National Dairy Development Board (NDDB) has initiated talks with the World Bank and the government departments concerned to go ahead with the second phase of the Plan.
 
While the first phase was launched in 2012 with an outlay of Rs.2,242 crore, the second phase will have a projected financial outlay of about Rs.8,000 crore.
 
‘Targets achieved’
Dilip Rath, Chairman, NDDB, told mediapersons on Monday that the NDP-1 has mostly achieved its aims as it comes to a close next month.
 
We have achieved most of the targets. Now, we are looking at the second phase, which is currently under discussion with the World Bank. The model of operation for second phase will mostly be the same with five-year tenure, Rath said here on the sidelines of the launch of a week-long nutrition awareness campaign. The second phase of the NDP will primarily focus on developing milk processing infrastructure and establishment of milk quality testing equipment at critical points of procurement areas.
    
Source: The Hindu Business line



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