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Germany, India linked by very close ties: Merkel at Rashtrapati Bhawan

News Network
November 1, 2019

New Delhi, Nov 1: German Chancellor Angela Merkel on Friday said her country and India are linked by very close ties. The leader made the remarks after being accorded a ceremonial reception at Rashtrapati Bhawan in the national capital on Friday.

Merkel was received by Prime Minister Narendra Modi on her arrival at Rashtrapati Bhawan.

"I am delighted to be in India for the intergovernmental consultations. I want to thank Prime Minister Narendra for the warm and gracious welcome we have received here. It is my fourth visit to India and I am looking forward to this interesting programme," said Merkel after Prime Minister Modi received her.

"Germany and India are linked by very close ties. We have great respect for this vast country and its diversity," she added.

Merkel will hold talks with Modi on various bilateral issues and nearly 20 agreements are expected to be signed between the two countries. The main topics on the agenda include skill development, climate, artificial intelligence, sustainable development, security and economy, sources told ANI. Talks on a possible free trade agreement with the European Union may also be discussed, sources added.

Merkel arrived in New Delhi on Thursday to participate in the fifth India-Germany Inter-Governmental Consultations (IGC). She was received by Minister of State in the Prime Minister's Office Jitendra Singh at the Indira Gandhi International Airport in the national capital.

During their meeting, Modi and Merkel will exchange views on regional and global matters of mutual interest. Both leaders will have a separate engagement with CEOs and business leaders of both countries, the MEA had said in a statement.

The German Chancellor is also expected to meet President Ram Nath Kovind during the visit. She will also visit Gandhi Smriti.

Merkel will interact with Indian women leaders and address a business forum.

On Saturday, she will pay a visit to Continental Automotive Components India Pvt Ltd facility in IMT Manesar in Gurgaon. She will also visit a metro station in Dwarka area.

India and Germany have established a strategic partnership that is characterised by a high degree of trust and mutual understanding. The two leaders have regularly interacted on the sidelines of multilateral meetings. Germany is also a leading trade and investment partner of India.

In September, Merkel had met Modi on the sidelines of the 74th session of the United Nations General Assembly in New York. The two leaders held a wide-ranging dialogue on several issues. In April last year, Modi made a brief stopover in Berlin and met Merkel after his visit to Sweden and Britain.

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News Network
March 4,2020

Mar 4: Prime Minister Narendra Modi said on Wednesday that he has decided not to participate in any 'Holi Milan' programme as experts have advised reducing mass gatherings to avoid the spread of coronavirus.

"Experts across the world have advised reducing mass gatherings to avoid the spread of COVID19 Novel Coronavirus. Hence this year, I have decided not to participate in any 'Holi Milan' programme," the PM tweeted.

This year, Holi is on March 10.

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News Network
February 11,2020

New Delhi, Feb 11: The government has decided to rename National Institute of Financial Management (NIFM), Faridabad, as Arun Jaitley National Institute of Financial Management, an official statement said on Tuesday.

Set up in 1993 as a registered society under the Department of Expenditure, NIFM trains officers of Finance and Accounts Services recruited by the Union Public Service Commission (UPSC) as also officers of Indian Cost Accounts Service. The Union Finance Minister is the President of the NIFM Society.

"Aligning the vision and aspiration of the Institute for the future with the vision and contribution of late Arun Jaitley, the Government has decided to rename National Institute of Financial Management (NIFM) as the Arun Jaitley National Institute of Financial Management(AJNIFM)," the statement said.

NIFM has become a premier resource centre to meet the training needs of the central government for senior and middle level of management in the fields of public policy, financial management, public procurement and other governance issues for promoting highest standards of professional competence and practice.

Padma Vibhushan awardee Jaitley was the Union Minister for Finance and Corporate Affairs during May 26, 2014 to May 30, 2019.

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Agencies
July 30,2020

New Delhi, Jul 30: India's gold demand in 2020 is expected to fall to the lowest level in 26 years with domestic bullion prices hitting a record high and as falling disposable incomes could curtail retail purchases, the World Gold Council (WGC) said on Thursday.

Lower demand by the world's second-biggest bullion consumer could limit a rally in global prices, which hit a record high earlier this month, although it could also reduce India's trade deficit and support the ailing rupee.

"Fast rising gold prices could act as headwinds," said Somasundaram PR, the managing director of WGC's Indian operations.

Local gold futures have jumped 35% so far this year after rising a quarter in 2019.

India's gold consumption in the first half of 2020 plunged 56% on-year to 165.6 tonnes. Meanwhile, the coronavirus-triggered lockdown also slashed demand by 70% in the June quarter to 63.7 tonnes, the lowest in more than a decade, the WGC said in a report published on Thursday.

Millions of Indians have lost their jobs or taken a pay cut after the country imposed a lockdown on its 1.3 billion people to curb the spread of the virus that has infected more than 1.5 million Indians.

Consumption is generally high during the June quarter due to weddings and key festivals such as Akshaya Tritiya, but lockdown restrictions kept shoppers indoors this year.

The weak demand in the first half could drag down India's gold consumption in 2020 to the lowest since 1994, when demand stood at 415 tonnes, Somasundaram said, adding that it is still difficult to provide an estimate for full-year demand as the coronavirus crisis is still unfolding.

"Indian demand has previously jumped as much as 300 tonnes in a quarter. Latent demand could come out in the second half," Somasundaram said.

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