Am Gujarati, money is in my blood, says PM in Tokyo

September 1, 2014

Tokyo, Sep 1: Japan today announced doubling of its private and public investment in India to about USD 34 billion over the next five years even as the two countries decided to elevate their ties to a Special Strategic Global Partnership but failed to conclude a civil nuclear deal.modi-53

Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe during their summit talks also reaffirmed the importance of bilateral defence relations in their strategic partnership and agreed on greater defence equipment and technology cooperation.

The summit meeting took place on the third day of Modi's five-day visit to Japan when the two countries also decided to expedite talks on sale of US-2 amphibian aircraft to India for enhancing maritime security.

At a joint press conference, Abe also announced that as an example of Indo-Japan cooperation, Tokyo will help India in providing financial, technical and operational support to introduce Bullet trains, a project that Modi has been actively pursuing.

Japan will also help India in providing better connectivity with its neighbours, he said.

On the civil nuclear deal, which was expected to be finalised during the visit, Abe said they have directed the officials to accelerate negotiations for early conclusion of an agreement to strengthen partnership.

While India is said to be pursuing the deal with Japan on the template of the landmark Indo-US nuclear accord, Tokyo is said to be not that enthusiastic about that being the basis.

The 3.5 trillion yen( 34 billion USD) of investment from Japan to India including Official Development Assositance(ODA) during a 5-year period will be under the aegis of India–Japan Investment Promotion Partnership for development of projects including infrastructure and building of smart cities.

The five-year period will also see the doubling of the presence of Japanese firms in India, Abe said.

Thanking Abe for providing him an opportunity to make Japan his first bilateral visit outside South Asia, Modi said," we both have decided to raise the relationship to a special strategic and global partnership by giving it a special emphasis".

Asserting that his visit ushered in a dawn of new era in Indo-Japan relations, Modi said there is no "limit" to partnership between the two countries.

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News Network
April 30,2020

Hyderabad, Apr 30: A 45-day-old baby boy, who tested positive for COVID-19 when he was 20-days-old, was discharged from a state-run hospital here on Wednesday after his full recovery.

The baby from Mahabubnagar, who contracted the infection from his father, was 20-days-old at the time of admission (on April 4), a COVID-19 bulletin said.

He was discharged after being cured, it said. The baby, probably the youngest to contract the infection in the country, was treated at the state-run Gandhi hospital in the city.

State Health Minister E Rajender expressed happiness over the baby being discharged after recovery.

An official release said 35 people were discharged today and 13 of them were children.

Those who were discharged thanked the doctors and medical personnel of the hospital and the minister has lauded the doctors and other medical staff for their efforts, it said.

Among those undergoing treatment at the hospital, 10 are being treated in the ICU.

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Agencies
February 10,2020

New Delhi, Feb 10: The government is set to privatise Central Electronics Ltd, a CPSE under the Department of Science and Technology, by selling its 100% stake with management control and has invited the Expression of Interest for the same by March 16.

The selected bidder will be required to lock in its shares for a period of three years during which it cannot undertake the sale of its stake in CEL, the PIM (Preliminary Information Memorandum) said.

"The government of India has 'in-principle' decided to disinvest 100 per cent of its equity shareholding in CEL (which is equivalent to 100 per cent of the total paid up equity share capital of CEL) through Strategic Disinvestment with transfer of management control (Strategic Disinvestment or Transaction)," DIPAM, the Disinvestment Department, said.

The process for the transaction has been divided into two stages, namely, Stage I and Stage II.

After BPCL and Air India, this is yet another CPSE which government is slated to privatise if it gets offers from bidders.

The government has set a challenging target of Rs 2.1 lakh crore disinvestment proceeds from CPSE sell-offs and IPOs, OFSs (Offer for sale) in the next fiscal and it going out all guns blazing to meet that target after revising this fiscal target of Rs 1.05 lakh crore to Rs 65,000 crore.

The Interested Bidders (which can also include employees of CEL) must have a minimum net worth of Rs 50 crore as on March 2019. DIPAM has released complete invitation Preliminary Information Memorandum (PIM) of CEL. Resurgent India Limited is the advisor to the Transaction.

CEL is a pioneer in the country in the field of Solar Photovoltaic (SPV) with the distinction of having developed India's first Solar cell in 1977 and first Solar panel in 1978 as well as commissioning India's first solar plant in 1992.

More recently, it has developed and manufactured the first crystalline flexible solar panel especially for use on the passenger train roofs in 2015.

Its solar products have been qualified to International Standards IEC 61215/61730. CEL is further working on development of a range of new and upgraded products for signaling and telecommunication in the railway sector.

In the SWOT analysis of the CPSE, DIPAM has stated under weakness that "the company has weak financial loss due to past losses, high manufacturing cost and non payment of dues by state nodal agencies affecting the financial position of the company".

The CPSE has adequate land for expansion, the SWOT analysis said adding "the CPSE faces threat of dumping of solar cells at very low rates which makes solar PV manufacturing industry unviable".

Entry of new players in the market for solar products and railway signalling systems also is cited as a threat.

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News Network
March 26,2020

Jaipur, Mar 26: Two new COVID-19 positive cases were registered in Rajasthan taking the total number of coronavirus cases to 38 in the state.
The Union Health Ministry had on Wednesday reported 606 positive COVID-19 cases in India including 43 foreign nationals.

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