Posts tagged ‘Narendra Modi’

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14/04/2015

The Statesman: Let’s make India Ambedkar dreamt of: Modi

Prime Minister Narendra Modi on Tuesday paid tributes to to BR Ambedkar on his 124th birth anniversary, and said, “Let us pledge to dedicate ourselves to creating India that Ambedkar dreamt of…an India that will make him proud”.

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“I bow to Dr. Babasaheb Ambedkar on his birth anniversary – Jai Bhim,” the prime minister said in a message.

“Dr. Babasaheb Ambedkar is a yug purush (man of the era) who lives in the hearts and minds of crores of Indians. His life is characterised by unmatched determination and a firm commitment towards social justice. He made a mark as a bright lawyer, scholar, writer and intellectual who always spoke his mind,” Modi said.

He added: “Who can forget Dr. Ambedkar’s contribution in the making of our Constitution? He served the nation and the people tirelessly and selflessly.”

“Let us pledge to dedicate ourselves to creating the India that Dr. Ambedkar dreamt of…an India that will make him proud.”

via The Statesman: Let’s make India Ambedkar dreamt of: Modi.

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14/04/2015

India will set Climate Change conference agenda: Modi – The Hindu

Prime Minister Narendra Modi has slammed developed nations for questioning India over global warming despite it having the lowest per capita emission of gases and asserted that India will set the agenda for the Climate Change conference to be held in France in September.

Siemens CEO Joe Kaeser (centre) smiles as a trainee hands over a small Berlin TV Tower to the Prime Minister Narendra Modi during a visit to the Siemens company in Berlin on Monday.

“I am surprised that the world is scolding us even though our per capita gas emission is the lowest…,” he said while addressing a reception for the Indian community here last night.

Underlining that preservation of nature was in the customs and tradition of Indians which they have done for ages, Mr. Modi said, “The whole world is posing questions to us. Those who have destroyed climate are asking questions to us. If anybody has served the nature, it is Indians.”

He asserted that India is “not answerable to the world” and will tell them that “you destroyed nature.”

Underlining that India should lead the way to deal with climate change, the Prime Minister said, “India will set the agenda for the upcoming Conference of Parties (COP)” meeting to be held in Paris in September.

Referring to India’s traditional practices and traditions, Mr. Modi said it is the only country which has served the nature the most as Indians even treat even river as mother and worship trees.

“Treating the nature well comes naturally for Indians and they (developed nations) are teaching us,” he said.

The Prime Minster said the solutions to the “crisis” on account of global warming are in India’s traditions and customs.

“We should go out with confidence,” he said, asking the Indian diaspora to contribute in this regard.

At the same time, he said India also wants solutions to the global problem of climate change. In this regard, he spoke about his government’s initiatives to tap clean and renewable energy for generating 175 Gigawatts of electricity from it.

One Gigawatt is equal to 1,000 MW.

“Earlier, we did not go beyond Megawatts but in 10 months, we have at least started thinking of Gigawatts,” he said.

via India will set Climate Change conference agenda: Modi – The Hindu.

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14/04/2015

Narendra Modi: India Has Changed – India Real Time – WSJ

Indian Prime Minister Narendra Modi sought to convince German industry that India is a reliable place to do business on his first visit to Europe’s largest economy as India’s leader.

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“I am here to assure German companies that India is now a changed country — transparent, responsive and stable,” Mr. Modi told a delegation of Indian and German business leaders on Monday.

The Indian leader insisted that he was committed to introducing a “predictable” business environment in his country, as German Chancellor Angela Merkel welcomed him for the start of the Hannover Messe trade fair.

As the official partner country of the Messe—the world’s largest industrial trade fair—India is promoting its industrial and technological assets as Mr. Modi seeks to draw German industrial investment to his country.

Months after his election last May, Mr. Modi, of the conservative Bharatiya Janata Party, launched a “Make in India” campaign to promote the country as an investment destination and manufacturing center. His goal is to market India as an industrial hub for foreign players eager to take advantage of the country’s large workforce, raw materials and infrastructure.

via Narendra Modi: India Has Changed – India Real Time – WSJ.

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12/04/2015

Drugs for malaria, osteoporosis, diabetes: Harsh Vardhan – The Hindu

‘The “candidate drugs” for malaria, osteoporosis and diabetes were currently undergoing clinical trials’

The “candidate drugs” for malaria, osteoporosis and diabetes were currently undergoing clinical trials. Photo: V.V.Krishnan

The Indian pharmaceutical sector would soon be showcasing ‘candidate drugs’ for malaria, osteoporosis and diabetes, Union Minister for Science and Technology and Earth Sciences Harsh Vardhan said on Saturday.

With further R&D, important breakthroughs could be on the horizon for these diseases, he said following a visit to the Central Drug Research Institute (CDRI), Lucknow, a wing of the Council of Scientific and Industrial Research (CSIR).

Addressing scientists, he said Prime Minister Narendra Modi was committed to making India one of the world’s leading destinations for end-to-end drug discovery and innovation by 2020.

“I am confident that the drug laboratories under the CSIR are capable of backing up the Swasth Swachh Bharat Mission. Our scientists are focussing on both infectious and lifestyle diseases. We are developing next generation drugs, biologics, biosimilars, gene therapeutics, stem cell therapeutics, personalised medicine and multifunctional nanomedicine,” said Dr. Vardhan.

Indian R&D efforts in government laboratories like CSIR-CDRI, CSIR-Indian Institute of Chemical Technology (CSIR-IICT, Hyderabad) and CSIR-Indian Institute of Chemical Biology (CSIR-IICB, Kolkata) have a track record in making drugs for kala azar, filaria, leprosy and tuberculosis available at affordable rates to the common man, he said.

via Drugs for malaria, osteoporosis, diabetes: Harsh Vardhan – The Hindu.

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12/04/2015

Modi’s ‘Make in India’ Gets $2 Billion Vote of Confidence From Airbus – India Real Time – WSJ

On Saturday, Indian Prime Minister Narendra Modi paid a visit to Airbus Group ‘sEADSY +0.49% facilities in Toulouse, France.

He was greeted with a vote of support, from the aerospace company’s CEO, for his Make in India initiative to build up manufacturing in the South Asian country.

Airbus is “ready to manufacture in India, for India and the world,” said Airbus chief Tom Enders. “India already takes a center-stage role in our international activities and we want to even increase its contribution to our products.”

Airbus Group aims to increase its sourcing of aerospace parts from Indian companies to $2 billion in the next five years, the company informed Mr. Modi, as it seeks to diversify its supplier base and tap low-cost suppliers worldwide.

The company’s strategy to ramp up outsourcing from India comes as it competes to secure billions of dollars in deals for military hardware from the country.

India has yet to decide on a joint bid by Airbus and India’s Tata Group to make Airbus’s C295 aircraft, in a contract estimated at about $3 billion. The company is also pursuing separate deals for hundreds of helicopters from the Indian military.

India has already selected Airbus to supply six A330 multirole tanker-transport planes for an estimated $2 billion.

In a presentation to the Indian prime minister on Saturday, the company said it would work with partners in India in areas such as engineering, customer services and pilot training, and to establish centers for the maintenance, repair and overhaul of planes, according to Indian Foreign Ministry spokesman Syed Akbaruddin.

In a statement, Airbus said it aims to produce helicopters, military planes, sensors as well as satellites in India, in partnerships with local firms. The company predicted India would India would require 1,291 new planes over the next two decades. It forecast the Indian air travel market to grow 11% each year through 2025.

via Modi’s ‘Make in India’ Gets $2 Billion Vote of Confidence From Airbus – India Real Time – WSJ.

Posted in Aerospace, Economics, India alert, Manufacturing | 1 Comment »

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09/04/2015

Demands for Bribes and Other Barriers Get in Way of Modi’s Banking Push for the Poor – India Real Time – WSJ

Firozaben, a nurse at an upscale clinic here, opened an account at the state-owned Bank of Baroda Ltd. in December, attracted by the promise of an overdraft provision and accident- and life-insurance policies—all for no fee, courtesy of a government program to bring India’s masses into the banking system.

The same month, Mohammad Assalam Ansari, a tailor, traveled to an account-opening “boot camp” run by the bank. He says he had to pay 100 rupees before a clerk would give him an application form. Despite this, he says his application was rejected; he isn’t sure why.

Their stories reflect both the promise and the weakness of an ambitious program by Prime Minister Narendra Modi to widen access to financial services to the country’s poor. The goal is to make India less cash dependent, shrink the black economy, reduce corruption and boost growth.

via Demands for Bribes and Other Barriers Get in Way of Modi’s Banking Push for the Poor – India Real Time – WSJ.

Posted in Banking, Economics, India alert | 3 Comments »

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08/04/2015

Narendra Modi to hard sell ‘Make in India’ at talks with business leaders in Hannover Messe during Germany visit – The Hindu

Prime Minister will inaugurate the Hannover Messe, considered the largest congregation of business tycoons.

Prime Minister Narendra Modi speaks at an event in New Delhi on Wednesday. Photo: V. Sudershan

Prime Minister Narendra Modi will hard sell India as an attractive investment destination while deliberating with movers and shakers of global business at the Hannover Messe during his three-day trip to Germany beginning Sunday, besides holding talks with its top leadership.

In his maiden visit to the European nation as Prime Minister, Mr. Modi will have a packed schedule and wooing investors and projecting his ambitious “Make in India” initiative will be a major focus area.

Mr. Modi will inaugurate the Hannover Messe, considered the largest congregation of business tycoons, along with German Chancellor Angela Merkel. India is the partner country of the fair this year where over 350 Indian enterprises are participating.

“In January, the world came to vibrant India in Gujarat and now exactly three months later, vibrant India is coming to the world in Germany to Hannover Messe,” German Ambassador Michael Steiner told reporters briefing on Mr. Modi’s trip.

Expecting that Mr. Modi’s visit will take the relationship to a “new level”, Mr. Steiner said Chancellor Merkel will come to India in October for the inter-governmental meeting where all major issues will be deliberated at length.

via Narendra Modi to hard sell ‘Make in India’ at talks with business leaders in Hannover Messe during Germany visit – The Hindu.

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08/04/2015

Rural Electrification Corp share sale subscribed more than twice | Reuters

A sale of shares in state-run Rural Electrification Corp Ltd(RURL.NS) worth up to $250 million has been subscribed nearly two-and-a-half times, at an indicative price of over 316 rupees each, exchange data showed.

An employee from the electricity board works on newly installed overhead power cables in Allahabad December 7, 2012. REUTERS/Jitendra Prakash/Files

The share sale is part of New Delhi‘s plan to raise about $11.1 billion through asset sales during the current financial year ending March 2016. The asset sales are crucial to meet a fiscal deficit target of 3.9 percent of GDP for 2015/16 financial year.

The government has missed its divestment target for the past five years. A shortfall in receipts from stake sales and taxes has led to cuts in public spending of about $48 billion in the past three years, slowing economic recovery.

“Given the positive response and sentiment from both global and domestic investors there should be good appetite for quality issues if valuations are attractive,” said Navneet Munot, chief investment officer of SBI Funds Management.

Greater faith in the India’s political leadership and reform process should help government’s divestment drive, he added.

Overseas and domestic portfolio investor demand for REC’s shares exceeded supply, in a vote of confidence of recovery in power starved Asia’s third-largest economy.

via Rural Electrification Corp share sale subscribed more than twice | Reuters.

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08/04/2015

Cabinet amends real estate bill to stamp out illegal practices | Reuters

The cabinet has amended a bill to regulate the real estate sector, protect home buyers and curb undeclared “black money” in property markets that costs the exchequer billions of dollars in lost taxable income.

Labourers work at the construction site of a residential building in Mumbai's central financial district April 6, 2015. REUTERS/Danish Siddiqui

The decision by Prime Minister Narendra Modi‘s government to amend the bill, which was submitted by the previous government in 2013 but not passed by the upper house, aims to boost investor confidence and stamp out illegal practices.

The new rules, applicable to residential and commercial developments, will make it mandatory for all projects and brokers to be registered with the real estate regulator who will oversee transactions and settle disputes.

“The bill seeks to ensure accountability and transparency, which will in turn enable the real estate sector to access capital and financial markets essential for its long-term growth,” the government said in a statement on Tuesday.

During recent years sluggish economic growth and delays in getting approvals stalled several real estate projects, leaving buyers waiting for their homes and developers holding high debt.

“This will be a game-changer for the sector,” Rajeev Talwar, executive director at DLF Ltd, India’s top real estate developer.

via Cabinet amends real estate bill to stamp out illegal practices | Reuters.

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08/04/2015

Lapsed tenders hurt Modi’s ‘Make in India’ defence industry push | Reuters

Indian firms have spurned some $15 billion worth of government tenders to make a range of weapons since 2013, defence ministry officials say, in a blow to Prime Minister Narendra Modi and his drive to wean the country off imported arms.

Executives cited unrealistic quality demands from a military short of planes, tanks and guns as a key reason for their reluctance to bid for projects. Complicating things further, the military doesn’t want weapons from Indian firms with no track record in defence manufacturing, experts said.

Irked by India’s status as the world’s biggest arms importer, Modi wants to build an advanced defence industry but almost a year into his “Make in India” campaign, which aims to turn the country into a manufacturing powerhouse, not one large domestic weapons project has been awarded.

Tenders for anything from air defence guns to surface-to-air missiles to transport planes have lapsed, defence ministry officials told Reuters. The tenders total around $15 billion according to a Reuters compilation of offers since early 2013.

via Lapsed tenders hurt Modi’s ‘Make in India’ defence industry push | Reuters.

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