'5 to 7 Million People from Airport to Ahmedabad Stadium': Before India Visit, Trump Reveals Modi's Promise

Washington, Jul 18: The Foreign Direct Investment (FDI) from the US to India has crossed the $40 billion mark so far this year, reflecting the growing confidence of American companies in the country, the head of an India-centric business advocacy group has said.

The American companies, during the Covid-19 pandemic, which has battered the world economy, have shown great confidence in India and its leadership, said Mukesh Aghi, president of the US-India Strategic and Partnership Forum (USISPF), which keeps a track of the major US FDIs in India.

“Year to date investment from the US, including the recent ones, is over $40 billion,” Aghi said.

In recent weeks alone, the announcement of the FDI into India has been over $20 billion, he said, referring to the announcements made by some of the top companies like Google, Facebook and Walmart.

“Investors’ confidence in India is high. India still remains a very promising market for global investors. If you look at the $20 billion… not just the US, but (investment) has also come from other geographies such as the Middle East and the Far East.

“So, India still remains a very, very bullish market for the investor community,” Aghi said in response to a question.

The USISPF has been working with New Delhi to bring in FDI into India… playing a key role in encouraging American companies planning to move their bases out of China, he said, adding that the move was going on in the last three years of the Trump administration, but gained momentum during the coronavirus pandemic.

“We feel that Prime Minister (Narendra Modi’s) intention is very high. The challenges lie on the execution side. Efforts are being made to encourage manufacturing… I've never seen it so better. The policy framework is moving in the right direction,” he said.

Early this week, Larry Kudlow, the White House Economic Advisor, told reporters that the US tech giants like Google and Facebook announcing big investments in India shows that people are losing trust in China and India is emerging as a big competitor.

At the same time, he rued that India continues to be a protectionist country.

“The question is how do you define protectionism... the administration here is saying America first and India is saying vocal for local…,” Aghi added.

Riyadh, Apr 27: The government of Saudi Arabia has signed a SR995 million (approx. Dh972m) contract with China to provide Covid-19 tests for nine million people in the Kingdom.

The Saudi Press Agency, SPA, reported that the decision came "as a result of a phone call made today (Sunday) between the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud and Chinese President Xi Jinping."

The contract includes providing necessary equipment and supplies, making available of 500 Chinese specialists and technicians who are specialised in performing tests, establishing six large regional laboratories throughout the Kingdom; including a mobile laboratory with a capacity of performing 10,000 tests per day. Saudi cadres will also be trained to conduct daily tests and comprehensive field tests, under the new agreement

The contract was co-signed by the National Unified Procurement Company and Chinese company Huo-yan Laboratories by Dr. Abdullah Al Rabeeah, Advisor at the Royal Court, on behalf of the Government of Saudi Arabia, and Chinese Ambassador to the Kingdom Chen Weiqing, as a representative of the Chinese Government.

The contract is one of the largest contracts that will provide diagnostic tests for the novel Coronavirus.

Tests were also purchased from several other companies from the United States, Switzerland and South Korea, bringing the number of available tests to 14.5 million, covering around 40 percent of Saudi Arabia's population, SPA added.

Shirdi, Jan 19: Shirdi in Maharashtra will remain closed for an indefinite period from today in the wake of state Chief Minister Uddhav Thackeray's decision to develop Pathri town in Parbhani district as Sai Baba's birthplace.

However, Deepak Madukar Muglikar, Chief Executive Officer of Shri Saibaba Sansthan Trust, has said that Sai Baba Temple in Shirdi will remain open today and will not be impacted by the closure of the city.

"There are some reports in media that Sai Temple in Shirdi will remain closed on January 19. I want to clarify that it is just a rumor. Temple will remain open on January 19," Mr Muglikar said.

A call has been given for indefinite closure of Shirdi after Mr Thackeray's reported comment terming Pathri in Parbhani as Sai Baba's birthplace.

"Devotees will not face any difficulty if they come to Shirdi," said B Wakchaure, member of Saibaba Sansthan Trust.

Uddhav Thackeray has recently announced that Pathri will be developed as the birthplace of Sai Baba for religious tourism and also took a review meeting of the development plans in the Parbhani district.

One of the most popular religious destinations in the country, Saibaba Temple in Shirdi witnesses lakh of devotees visiting the holy site every year.