Modi arrives in Qingdao to attend SCO summit

Agencies
June 9, 2018

Qingdao, Jun 9: Prime Minister Narendra Modi arrived here today on a two-day visit primarily to attend the annual summit of Shanghai Cooperation Organisation (SCO) which is likely to deliberate on several pressing global issues including future of Iran nuclear deal, the impact of US sanctions on Russia and situation in the Indo-Pacific region.

It is Modi’s second visit to China in little over five weeks. He was in the Chinese city of Wuhan on April 27 and 28 to attend an informal summit with President Xi Jinping.

Diplomats said the summit is also likely to explore ways to deepen cooperation among the SCO member countries in dealing with threats of terrorism, extremism, and radicalisation besides delving into issues relating to trade, investment, and connectivity.

It is for the first time the Indian prime minister will be attending the SCO summit after India along with Pakistan became full-fledged members of the grouping, jointly dominated by China and Russia, which has been increasingly seen as a counter to NATO.

The SCO currently has eight member countries which represents around 42 percent of the world’s population and 20 percent of the global GDP.

Besides Modi, other leaders attending the summit in this picturesque coastal city of China’s Shandong province include President Xi Jinping, Russian President Vladimir Putin, Iranian President Hassan Rouhani and Pakistan President Mamnoon Hussain.

In his address at the SCO Modi, is likely to articulate India’s position on dealing with major challenges facing the world including ways to tackle terrorism, and boosting trade and investment in the region.

The summit in this Chinese port city is taking place under the shadow of Washington’s pull out from the Iran nuclear deal, its sanction regime against Russia and frictions with China over the trade tariff dispute and diplomats said all these issues may figure at the summit as well as during deliberations on its sidelines.

In the wake of Washington’s strained ties with Russia, China and Iran, officials said the SCO summit will provide an opportunity for President Xi and his Russian counterpart Putin to reflect on a common vision for the region and present the bloc as a powerful voice to deal with pressing global issues.

The situation in the Indo-Pacific may figure in the talks but it is unlikely that the issue will find a mention in the SCO outcome document.

Officials said the US pull out from the Iran nuclear deal, Washington’s sanctions against Russia under the Countering America’s Adversaries Through Sanctions Act (CAATSA) may also figure in the talks. The sanctions have impacted Russia’s defence cooperation with a number of countries including India.

The SCO leaders are also expected to review the situation in the Korean peninsula, Afghanistan and Syria.

Officials said India will pitch for evolving effective ways to deal with the growing challenge of terrorism and enhancing security cooperation among SCO countries.

India is also keen on deepening its security-related cooperation with the SCO and its Regional Anti-Terrorism Structure (RATS) which specifically deals with issues relating to security and defence.

India was an observer at the SCO since 2005 and has generally participated in the ministerial-level meetings of the grouping which focus mainly on security and economic cooperation in the Eurasian region.

The officials said India is also likely to focus on the importance of regional connectivity projects to boost trade among members of the SCO countries.

India has been strongly pushing for connectivity projects like the Chabahar port project and International North-South Transport Corridor to gain access to resource-rich central Asian countries.

Modi is expected to hold nearly half a dozen bilateral meetings with leaders of other SCO countries. However, there is no official word on whether there will be any interaction between Modi and Pakistan President Hussain, who is scheduled to attend the meeting in China.

The SCO was founded at a summit in Shanghai in 2001 by the presidents of Russia, China, Kyrgyz Republic, Kazakhstan, Tajikistan and Uzbekistan. India and Pakistan became its members last year.

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News Network
March 4,2020

New Delhi, Mar 4: The government on Wednesday permitted NRIs to own up to 100 per cent stake in disinvestment-bound Air India.

The decision comes at a time when the government is looking to sell 100 per cent stake sale in the national carrier.

Union minister Prakash Javadekar said the Cabinet has approved allowing Non-Residents Indians (NRIs) to hold up to 100 per cent stake in Air India.

Allowing 100 per cent investment by Non-Resident Indians (NRIs) in the carrier would also not be in violation of SOEC norms. NRI investments would be treated as domestic investments.

Under the Substantial Ownership and Effective Control (SOEC) framework, which is followed in the airline industry globally, a carrier that flies overseas from a particular country should be substantially owned by that country's government or its nationals.

Currently, NRIs can acquire only 49 per cent in Air India. Foreign Direct Investment (FDI) in the airline is also 49 per cent through the government approval route.

As per the existing norms, 100 per cent FDI is permitted in scheduled domestic carriers, subject to certain conditions, including that it would not be applicable for overseas airlines.

In the case of scheduled airlines, 49 per cent FDI is permitted through automatic approval route and any such investment beyond that level requires government nod.

On January 27, the government came out witha Preliminary Information Memorandum (PIM) for Air India disinvestment. It has proposed selling 100 per cent stake in Air India along with budget airline Air India Express and the national carrier's 50 per cent stake in AISATS, an equal joint venture with Singapore Airlines.

Under the latest disinvestment plan, the successful bidder would have to take over only debt worth Rs 23,286.5 crore while the liabilities would be decided depending on current assets at the time of closing of the transaction.

This is the second attempt by the government in as many years to divest Air India, which has been in the red for long.

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News Network
July 10,2020

New Delhi, Jul 10: With the highest single-day spike of 26,506 COVID-19 cases and 475 deaths reported in the last 24 hours, the total number of COVID-19 cases in India reached 7,93,802 on Friday, according to the Union Ministry of Health and Family Welfare.

Out of the total number of cases, 2,76,685 are active, 4,95,513 have been cured/discharged/migrated and 21,604 have died so far due to the infection.

With as many as 2,30,599 COVID-19 cases, Maharashtra continues to remain the worst-affected state, followed by Tamil Nadu (1,26,581) and Delhi (1,07,051).

Meanwhile, 2,83,659 samples were tested for coronavirus on Thursday, taking the total number of samples tested up to July 9 to 1,10,24,491, according to the Indian Council of Medical Research (ICMR).

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Agencies
July 8,2020

New Delhi, Jul 8: India has reported a spike of 22,752 COVID-19 cases in the last 24 hours, taking the country's coronavirus tally to 7,42,417 on Wednesday, informed the Union Ministry of Health and Family Welfare.

Out of the total cases reported, 4,56,830 patients have been cured/discharged from the disease while one patient has been migrated, the Health Ministry informed.

It added that there are 2,64,944 active cases in the country.

482 deaths reported in the last 24 hours due to COVID-19 in the country, taking India's death toll to 20,642.

According to the Union Health Ministry, Maharashtra continues to be the worst affected state reporting 2,17,121 coronavirus cases and 9,250 fatalities.

Tamil Nadu -- the second worst-affected state from COVID-19 -- has a total of 1,18,594 cases and 1,636 deaths due to coronavirus.

While Delhi has a total of 1,02,831 COVID-19 cases including 3,165 deaths.

The Indian Council of Medical Research on Wednesday informed that a total of 1,04,73,771 samples tested for COVID-19 up to July 7. Of these, 2,62,679 samples were tested on Tuesday.

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