Actor Sunny Deol joins BJP

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.

India is among 58 nations, including 27 European Union members, who have moved a draft resolution demanding evaluation of the World Health Organisation (WHO)'s response towards the novel coronavirus pandemic.

The European Union-led draft resolution on global COVID-19 response is set to be tabled at the upcoming World Health Assembly on Monday.

The draft resolution demands initiation "at the earliest appropriate moment to review experience gained and lessons learned from the WHO-coordinated international health response to COVID-19".

"We are deeply concerned by the morbidity and mortality caused by COVID-19 pandemic, the negative impacts on physical and mental health and social well-being, the negative impacts on economy and society and the consequent exacerbation of inequalities within and between countries," read the draft.

"We express solidarity to all countries affected by the pandemic, as well as condolences and sympathy to all the families of the victims of COVID-19," it added.

The resolution says timelines are to be evaluated regarding "recommendations the WHO made to improve global pandemic prevention, preparedness, and response capacity".

The WHO on January 23 declare a global health emergency, but did not declare it and waited for a week for its director-general Tedros Adhanom Ghebreyesus to return from China.

By that time, COVID-19 cases increased 10 times and the virus entered 18 countries.

According to Health Policy Watch, till as late as February, the WHO did not support countries for imposing travel restrictions to China.

"When countries began evacuating their citizens from Wuhan, the COVID-19 epicentre, the WHO said it did not favour this step".

The WHO finally declared it a pandemic on March 11.

The global health body has come under criticism not just from the US for its response being "China-centric".

New Delhi, Mar 14: The central government on Saturday declared COVID-19 as a national 'disaster' and announced to provide ex-gratia relief of Rs 4 lakh to the families who died of the virus.

The Ministry of Home Affairs in a letter to states and union territories stated: "Keeping in view that spread of COVID-19 virus in India the declaration of it as pandemic by World Health Organisation, the Central government has decided to treat it as a notified disaster and announced to provide assistance under State Disaster Response Fund (SDRF)."

The Centre said that cost of hospitalization for managing COVID-19 patient would be at the rates fixed by the state governments. The state government can use SDRF found for providing temporary accommodation, food, clothing and medical care for people affected and sheltered in quarantine camps, other than home quarantine, or for cluster containment operations.

The state executive committee will decide the number of quarantine camps, their duration and the number of persons in such camps. "Period can be extended by the committee beyond the prescribed limit subject to condition that expenditure on this account should not exceed 25 percent of SDRF allocation for the year," the Ministry of Home Affairs notification stated.

The cost of consumables for sample collection would be taken from the funds which can be sued to support for checking, screening and contact tracing.

Further, funds can also be withdrawn for setting up additional testing laboratories within the government set up. The state has also to bear the cost of personal protection equipment for healthcare, municipal, police and fire authorities. Further SDRF money can also be used for procuring thermal scanners and ventilation and other necessary equipment.