India offers $1 billion loan for development of Russia’s Far East

Agencies
September 5, 2019

Vladivostok, Sept 5: Prime Minister Narendra Modi on Thursday said India will walk shoulder-to-shoulder with Russia in its development of the Far East and announced a $1 billion line of credit for the development of the resource-rich region.

Addressing the plenary session of the 5th Eastern Economic Forum here, Prime Minister Modi said the friendship between India and Russia was not restricted to governmental interactions in capital cities, but was about people and close business relations.

"India's connection to Russia's Far East go back a long way. India was the first country to open a Consulate in Vladivostok," he said.

"For the development of Far East, India will give line of credit worth $1 billion. My government has actively engaged East Asia as part of its 'Act East' policy. I firmly believe that today's announcement will add a new dimension to the economic diplomacy of the two countries," Modi said at a packed house here.

The Prime Minister, in the presence of Russian President Vladimir Putin, also unveiled the "Act Far East" policy to boost India's engagement with Russia's Far East region.

"Let us deepen the bond between India and Russia even further. India is proud of the achievements of the Indian diaspora. I am sure here in the Russian Far East too the Indian diaspora will make an active contribution towards the region's progress," Modi said.

"India is a proud and active participant in the various activities of the Eastern Economic Forum. Participation has come from top levels of government and industry," he said.

Indian firms have invested over $7 billion in taking stake in Russian oil and gas fields. India ventured into Russia when its flagship overseas firm ONGC Videsh in 2001 acquired a 20 per cent stake in Sakhalin-1 oil and gas field in Far East Russia.

OVL later bought Imperial Energy, which has fields in Siberia, as also stakes in Vankor oilfield in eastern Siberia.

IOC and its partners have picked up 29.9 per cent stake in a separate Taas-Yuryakh oilfield in East Siberia.

Russian oil firm Rosneft in 2017 bought Essar Oil, which operates in Vadinar oil refinery in Gujarat and some 5,500 petrol pumps, for $12.9 billion.

Modi appreciated the vision of Putin for the welfare for Russia's Far East, saying the President has opened up investment opportunities for India in the region.

"By declaring the development of the Russian Far East a 'national priority for the 21st century', President Putin has taken a holistic approach towards improving everything ranging from economy, education, health to sports, culture or communication," he said.

Prime Minister Modi also emphasised on India's commitment to become a five trillion dollar economy by 2024.

Modi, who arrived in Russia on a two-day visit on Wednesday, is the first Indian prime minister to visit to the Russian Far East Region.

He arrived here to participate in the 20th India-Russia annual summit with President Putin and the fifth meeting of the Eastern Economic Forum (EEF).

The forum focuses on development of business and investment opportunities in the Russian Far East Region, and presents enormous potential for developing close and mutually beneficial cooperation between India and Russia in the region.

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Well Wisher
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Thursday, 5 Sep 2019

LOL. Naave muluguttiruvaaga yaake beku maaraya inthaha saahasa.

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News Network
June 30,2020

Beijing, June 30: China said on Tuesday it was concerned about India’s decision to ban Chinese mobile apps such as Bytedance’s TikTok and Tencent’s WeChat and was making checks to verify the situation.

Chinese foreign ministry spokesman Zhao Lijian told reporters during a daily briefing that (the Prime Minister Narendra Modi-led government of) India has a responsibility to uphold the rights of Chinese businesses.

India on Monday banned 59, mostly Chinese, mobile apps in its strongest move yet targeting China in the online space since a border crisis erupted between the two countries this month.

The apps are “prejudicial to the sovereignty and integrity of India, the defence of India, the security of state and public order", the ministry of information technology said in a statement, which came two weeks after 20 Indian Army personnel were killed in a violent clash on the India-China border in Ladakh.

The companies have been invited to offer clarifications before a government panel, which will decide whether the ban can be removed or will stay.

The move also came ahead of military and diplomatic talks between India and China scheduled this week.

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News Network
April 12,2020

Washington, Apr 12: The US has overtaken Italy as the country with the highest number of deaths due to COVID-19 pandemic with the fatalities crossing 20,000, according to Johns Hopkins University data, as the novel coronavirus continues to wreak havoc across the globe.

The deadly coronavirus, that originated in China in December last year, has so far killed more than one lakh people across the globe. The United States on Saturday became the country with the highest number of deaths at 20,597, surpassing Italy's 19,468 fatalities.

More than 5.3 lakh Americans have tested positive for coronavirus, which is about the same for the next four countries put together: Spain (163,027), Italy (152,271), Germany (125,452) and France (93,790). In terms of fatalities, the US and Italy are followed by Spain (16,606), France (13832) and United Kingdom (9,875), the varsity data showed.

New York City, the financial capital of the world, has emerged as the epicenter of coronavirus in the world. A city of 8.3 million, which is one of the most densely populated cities in the US, by Saturday night had as many as 8,627 deaths and more than 180,000 people had tested positive for COVID-19.

President Donald Trump has declared a national emergency and all the 50 States have been notified with major disaster declaration. More than 95 per cent of the country's 330 million population are under stay-at-home order. Trump has deployed more than 50,000 personnel from the armed forces in fight against COVID-19.

After an initial two-week social mitigation measures, that includes social distancing, the measures have been extended till April 30. Initially, members of the White House Task Force on Coronavirus had projected between one and two lakhs deaths. Now, they have dropped the projection to 60,000 deaths, mainly due to the successful implementation of these measures.

"The people of our country have gone through a lot. But we did it the right way. And we look like we'll be coming in on the very, very low side, really below the lowest, the lowest side of the curve of death," Trump told Fox News on Saturday night.

Trump asserted that situation was improving in places like New York, where there is a drop in new patients. Responding to a question, he said he wanted the country to open up as soon as possible.

However, he has not taken a decision so far, even as some media reports said that he the President was looking for early May.

"I think it's going to be the toughest decision that I've ever made. I really, hopefully that I ever will have to make. But it's certainly the toughest decision that I've ever made. I hope that I'm going to make the right decision," Trump said, adding that he will be making a decision reasonably soon.

"We're setting up a council now of some of the most distinguished leaders in virtually every field including politics and business and medical. We'll be making that decision fairly soon," Trump said.

Meanwhile, The New York Times reported that its investigations have revealed that the president was warned about a potential pandemic but that internal divisions, lack of planning and his faith in his own instincts led to a halting response.

According to The Washington Post, coronavirus is killing about one in 10 hospitalised middle-aged patients and four in 10 older than 85 in the United States. It is particularly lethal to men even when taking into account common chronic diseases that exacerbate risk.

Globally, the novel coronavirus has killed 108,862 people and infected over 1.7 million people globally. The US has the highest number of infections at 529,887, according to Johns Hopkins University data.

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News Network
June 25,2020

New Delhi, Jun 25: India registered its worst single-day increase in COVID-19 cases on Thursday, recording more than 16,000 coronavirus infections, to push the overall tally to 4.73 lakh as the number of fatalities also jumped by 418, the Union Health Ministry said.

This was the sixth consecutive day when coronavirus cases increased by more than 14,000. On June 20, the country registered an increase of 14,516 cases. On June 21, the increase was of 15,413 cases; 14,821 cases on June 22; 14,933 cases on June 23; and 15,968 cases on June 24.

Consequently, India added 92,573 cases since June 20, and over 2.82 lakh this month since June 1.

The health ministry data updated at 8am on Thursday showed the daily tally increased by the highest-ever 16,922 cases to reach 4,73,105, while the total deaths climbed to 14,894 with 418 new fatalities.

However, according to the data, the recovery rate has improved to 57.43 per cent. The number of active cases stands at 1,86,514 while 2,71,696 people have recovered; one patient has migrated.

The total number of confirmed cases included foreigners.

According to ICMR, a total of 75,60,782 samples have been tested up to June 24 with 2,07,871 samples being tested on Wednesday.

Of the 418 new deaths, 208 were in Maharashtra, 64 in Delhi, 33 in Tamil Nadu, 25 in Gujarat, 14 in Karnataka, 11 in West Bengal, 10 each in Rajasthan and Haryana, nine in Madhya Pradesh, eight each in Uttar Pradesh and Punjab, five each in Andhra Pradesh, Telangana and Uttarakhand.

Bihar, Goa and Jammu and Kashmir have reported one COVID-19 fatality each.

Of the total fatalities, Maharashtra tops the tally with 6,739 deaths followed by Delhi (2,365), Gujarat (1,735), Tamil Nadu (866), Uttar Pradesh (596), West Bengal (591), Madhya Pradesh (534), Rajasthan (375) and Telangana (225).

The COVID-19 death toll reached 188 in Haryana, 164 in Karnataka, 124 in Andhra Pradesh, 113 in Punjab, 88 in Jammu and Kashmir, 57 in Bihar, 35 in Uttarakhand, 22 in Kerala and 17 in Odisha.

Chhattisgarh has registered 12 deaths, Jharkhand 11, Assam and Puducherry nine each, Himachal Pradesh eight, Chandigarh six, Goa two and Meghalaya, Tripura and Ladakh have reported one fatality each.

More than 70 per cent deaths took place due to comorbidities, the health ministry said.

Maharashtra has reported the highest number of cases at 1,42,900 followed by Delhi at 70,390, Tamil Nadu at 67,468, Gujarat at 28,943, Uttar Pradesh at 19,557, Rajasthan at 16,009 and West Bengal at 15,173, according to ministry data.

The number of COVID-19 cases has gone up to 12,448 in Madhya Pradesh, 12,010 in Haryana, 10,444 in Telangana,10,331 in Andhra Pradesh and 10,118 in Karnataka.

It has risen to 8,209 in Bihar, 6,422 in Jammu and Kashmir, 6,198 in Assam and 5,752 in Odisha. Punjab has reported 4,627 novel coronavirus infections so far, while Kerala has 3,603 cases.

A total of 2,623 people have been infected by the virus in Uttarakhand, 2,419 in Chhattisgarh, 2,207 in Jharkhand, 1,259 in Tripura, 970 in Manipur, 951 in Goa, 941 in Ladakh and 806 in Himachal Pradesh.

Puducherry has recorded 461 COVID-19 cases, Chandigarh has 420, Nagaland has 347, Arunachal Pradesh has 158 and Mizoram has 142 cases.

Dadra and Nagar Haveli and Daman and Diu together have reported 120 COVID-19 cases.

Sikkim has 84, Andaman and Nicobar Islands has registered 56 infections so far while Meghalaya has recorded 46 cases.

"Our figures are being reconciled with the ICMR (Indian Council of Medical Research)," the ministry said, adding 8,493 cases are being reassigned to states.

State-wise distribution is subject to further verification and reconciliation, it added.

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