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
 - 
Thursday, 5 Sep 2019

LOL. Naave muluguttiruvaaga yaake beku maaraya inthaha saahasa.

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News Network
June 4,2020

Beijing, Jun 4: Around 40 students and staff members of a primary school in China were stabbed by a security guard, official media reported today.

The incident happened at a school in China's Guangxi province, state-run China Daily said in a brief report.

Further details about the attack are awaited.

Knife attacks by disgruntled people have been taking place in different parts of China in the past few years, reported news agency Press Trust of India.

The attackers targeted mainly kindergarten and primary schools besides public transport, the news agency reported.

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News Network
January 30,2020

Mumbai, Jan 30: The Shiv Sena on Thursday endorsed Union home minister Amit Shah's view that alleged inflammatory statements made by Sharjeel Imam, an anti- Citizenship (Amendment) Act (CAA) activist, were dangerous.

No politics should be done on the issue, and such "pest" afflicting the country should be finished off, it said.

Imam was arrested on Tuesday in connection with his speeches at Jamia Millia Islamia University in Delhi and in Aligarh during anti-CAA protests.

He has been booked for sedition, among other offences.

In an editorial published in its mouthpiece `Saamana', the Sena, a former ally of the BJP, said, "We agree with union home minister's comments that Sharjeel Imam's alleged words of separation are more dangerous than that of Kanhaiya Kumar."

Kumar, former student leader from Jawaharlal Nehru University, had been arrested over alleged separatist slogans shouted during a protest on varsity campus.

The Sena, which has formed alliance with the Congress and NCP to come to power in Maharashtra, is often seen walking a tightrope to preserve its credentials as a pro-Hindutva party.

"The union home ministry, while initiating action against Imam, should not indulge in politics and try to finish off this pest that is afflicting our country," the editorial said.

"One must find out why such language of breaking up this country into pieces is being used by the educated youth of this country more and more frequently. Who is spewing such venom into the mind of Sharjeel who did his graduation from IIT-B and now pursuing PhD from JNU?" the Sena asked.

"Even people involved in Elgar Parishad at Pune are facing sedition charges and these people have been known as intellectuals and are well-known personalities," said the party.

"A conspiracy to bring about a conflict between Hindus and Muslims and ensure continuance of anarchy and civil war as in Iraq and Afghanistan exists. The boost for such activities is coming from a 'political laboratory'," the editorial said.

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News Network
March 21,2020

Beijing, Mar 21: China reported no domestically transmitted coronavirus cases for the third consecutive day even as seven more fatalities have been confirmed, taking the death toll in the country to 3255.

No new domestically transmitted cases of COVID-19 were reported on the Chinese mainland for the third day in a row on Friday, China's National Health Commission (NHC) said on Saturday.

The overall confirmed cases on the mainland had reached 81,008 by the end of Friday, which included 3,255 who died, 6,013 patients still undergoing treatment, 71,740 patients who had been discharged after recovery, the NHC said.

The NHC said 41 new confirmed COVID-19 cases were reported on the Chinese mainland on Friday from the people arriving from abroad, taking the total number of imported cases to 269.

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