Search Result for : Development

Source: PIB, Government of India The Union Finance Minister Arun Jaitley participated in the meeting of G-20 Finance Ministers and Central Bank Governors in Peru on October 8. He also participated in the G-24 Finance Ministers' meeting. In his interventions the Finance Minister, inter alia, welcomed the Sustainable Development Goals (SDGs) to be achieved by 2030. He alluded to the uncertainty surrounding recovery of the global economy and emphasized the need to explore unconventional means to raise resources to achieve the SDGs. He elucidated the initiatives taken by India to overcome the challenges to the economy and elaborated the unique identity linked financial inclusion programme which has resulted in opening of 180 million new bank accounts enabling direct transfer of benefits ...

Source: PIB, Government of India The Union Finance Minister Arun Jaitley stressed on capital increase and the need for reforms in the World Bank so as to reflect the emerging world order in its governance. The Finance Minister made these observations when Sri Mulyani Indrawati, Managing Director, World Bank Group called on him in his office in New Delhi on Thursday. The Finance Minister complimented the World Bank MD for setting the twin global goals of removal of global poverty and increasing shared prosperity aligned to the SDGs (Sustainable Development Goals). Speaking on the occasion, Sri Mulyani Indrawati, MD World Bank, informed the Finance Minister about the World Bank Group’s agenda and strategy for achieving the twin goals of removal of ...

Source: PTI China on Tuesday dismissed any apprehensions in India on its ambitious multi-billion dollar Silk Road projects stretching across continents to build infrastructure and improve connectivity with the avowed aim of expansion of trade and development. It also sought to assure India that there are benefits for countries joining the projects envisaged under the One Belt and One Road (OBOR) unveiled by President Xi Jinping two years ago. “There are some media which say China is in an expansion mode and damaging the world. The key objective of OBOR is to share benefits with all countries involved with China, the second largest economy in the world,” Liu Yunshan, the fifth ranking member of the powerful Standing Committee of the ruling Communist ...

The Dollar Business Bureau Singapore-based global investment fund GIC will invest Rs.1990 crore in a joint venture with Indian realty major DLF Ltd. to carry out two big-ticket projects in Delhi. Both the projects located in central Delhi will be developed under DHDL (DLF Home Developers Ltd), the Indian company said in a statement on Wednesday. “We hope that this investment is a beginning of a new relationship with GIC at the project level. We look forward to working together with GIC in many projects, both residential and commercial”, said Saurabh Chawla, Senior Executive Director-Finance of DLF Ltd. According to Mohit Gural, Chief Executive Officer of DLF, the partnership will “unleash many more signature developments and herald a new era of ...

Source: PTI Attributing the stock market crash to global turbulence, Finance Minister Arun Jaitley on Monday said the government and RBI were watching the situation and hoped that things will stabilise once the transient impact is over. "There has been for the last few days a great amount of turbulence which was being caused in the global markets. Obviously that turbulence has had impact on Indian market itself. The factors responsible for this are entirely external. “There is not a single domestic factor in India which has either contributed to it or added to it. These are external factors. I have not the least doubt that this turbulence is transient and temporary in nature. The markets will settle down,” he said. ...

Source: PIB, Government of India  A bilateral meeting was held in New Delhi on Friday between Minister of Road Transport, Highways & Shipping Nitin Gadkari and Foreign Minister of Iran Javad Zarif. The meeting was held in the backdrop of increased engagement between India and Iran in the infrastructure sectors, with a beginning having been made in the development and operation of Chabahar Port. An MoU was signed between India and Iran for development and operation of two terminals at Chabahar Port, in May, 2015 and discussions are on for concluding the agreement/contract between the organisations of the two governments. Discussions have also led to an initial exploration of India taking over the development and operation of Phase II of Chabahar ...

Source: PTI India and Mozambique on Wednesday decided to ramp up economic engagement, particularly in the energy sector with Prime Minister Narendra Modi saying the African nation can be a "large source" of coal and natural gas to drive the growth of Indian economy. During his wide-ranging talks with President Filipe Nyusi, Modi hoped that Mozambique, with its estimated 180 trillion cubic feet of off-shore gas reserves, would provide an "encouraging environment" for Indian investments in various key areas including hydrocarbons, minerals and infrastructure. Both sides inked an MoU on Cooperation in the field of renewable energy. The two leaders deliberated on a range of issues including cooperation in defence, maritime security in the Indian Ocean region, agriculture and ocean economy. ...

The Dollar Business Bureau  India topped the list of countries, initiating at least 28 anti-dumping investigations between October 2014 and April this year, a World Trade Organisation (WTO) report said. The report on trade-related developments in WTO member countries during October-May 2014-15 released on Thursday shows that India initiated the maximum number of investigations related to anti-dumping against exports from different countries. The country had initiated only 15 such probes during the same period a year ago, when Brazil had initiated the largest number of 35 investigations. This time, Turkey and the US are at second and third positions respectively with initiating 16 and 14 cases each. Though the US has maintained the second spot on the list, this time ...