New Delhi, Beijing support trilateral with US, says Chinese Ambassador

December 13, 2014

New Delhi, Dec 13: India and China today supported the idea of a trilateral dialogue involving them and the US to deal with major global challenges and ensure better mutual ties.LeYucheng

"I agree with the proposal to launch a trilateral talk between China, the US and India. I think it is a good idea. China is open to any dialogue if it produces peace and development. I think it is a very positive idea," Chinese Ambassador Le Yucheng said.

He was replying to a question at an interactive session at the conference on "Shaping the 21st Century: India, the US and China" organised by Bengaluru-based media group Deccan Herald.

Minister of State for External Affairs V K Singh also supported the idea, saying such a proposal will enhance cooperation between the three countries which have strong ties bilaterally with each other.

The idea for such a dialogue was mooted by former Union Minister Jairam Ramesh while addressing the conference.

Editor of Deccan Herald K N Tilak Kumar said the world today was witnessing a tectonic change with the phenomenal rise of China and the continued prominence of the US.

"Both countries are important to India and each one of the three have high stakes in economic ties with the other two," Kumar said, adding the kind of three-way relationship between them will be important not only to each of them but to the whole world.

The combined contribution of India, US and China to the global GDP is between 40 and 45 per cent and their population is estimated at 40 per cent of the world.

Singh and Le also agreed that the boundary question should be resolved mutually and peace and tranquility at the border should be maintained.

Listing the commonalities and shared interests, Singh said if "you have a trilateral dialogue, I think it will only further the type of interests (we are) seeking."

In his address, the Chinese ambassador said he was "very optimistic" about the "future" between India and China and underlined the need for ensuring peace on the border before reaching a final solution.

The Chinese envoy also talked about the trade imbalance with India and said China was opening up its market for Indian companies in many areas to find a solution to the issue.

Replying to a question on South China Sea dispute, he termed it as a complicated issue but asserted that China's sovereignty over the islands in the area was "undisputed".

"It is very complicated (issue). I think if we develop very good relation and cooperation with (concerned countries) we can find a way out. One thing is clear that China's sovereignty over these islands is undisputed," Le said.

In his address, the envoy said though China was "rising" as a major power, it does not seek "hegemony"

"China will remain a benign power and conduct its foreign policy in a constructive way and we will uphold international justice. We will seek cooperative relations with major powers and India. China is not a destroyer and challenger to world order. It is a contributor," he said.

Earlier, Ramesh strongly advocated an institutionalised mechanism for trilateral dialogue among the three powers to deal with issues like climate change, terrorism, energy security and to stop nuclear proliferation.

Ramesh said such a platform was necessary to ensure that differences on various issue do not result in "needless confrontation" and to ensure cohesion on strategic matters.

Identifying climate change as a major issue, he said no global pact to combat global warming was possible without an understanding among the US, China and India as they account for 45-50 per cent of world's green house gas emissions.

Currently, China accounts for about 29 per cent of green house gas emissions while it is 16 per cent by the US and 6 per cent by India. He also welcomed recent announcement by the US and China to take certain actions.

"Environmentally they may not be the most desirable or optimal actions. But these are politically and economically the most realistic action. I think the onus will be on India now to do something meaningful and substantial," he said.

Ramesh said combating terrorism and stopping nuclear proliferation were the other key issues the three countries should work together.

He said as three nuclear powers with substantial arsenals of "strategic and tactical" nuclear weapons, it was incumbent on the US, China and India to ensure nuclear non-proliferation and eliminate the threat of nuclear terrorism as well as to end weapons of mass destructions.

He said the three countries should also ensure that all the states are made accountable for actions of non-state actors whom they may be supporting tacitly. "All three countries have tremendous interests in ensuring that the sources of terrorism are eliminated."

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News Network
June 8,2020

New Delhi, Jun 8: Places of worship on Monday across the country reopened after staying shut since March due to the COVID-19 induced lockdown.

Scores of temples, mosques and gurudwaras were seen opening up keeping in view the Standard Operating Procedure (SOP) issued by Union Home Ministry to prevent coronavirus spread.

As per Ministry of Health guidelines, touching of idols/holy books, choir/singing groups, etc are not allowed.

In Delhi, people gathered at Gauri Shankar Temple in Chandni Chowk to offer prayers. With national capital seeing a rise in coronavirus cases, the devotees were seen wearing masks and taking precautions. People were also seen offering prayers at Kalka Ji Temple.

Several people arrived at Sri Bangla Sahib Gurudwara to offer prayers. Devotees were made to pass through the disinfectant tunnel before entering the Gurdwara in order to prevent the virus.

In Uttar Pradesh, Chief Minister Yogi Adityanath offered prayers at Gorakhnath Temple after state government allowed re-opening of places of worship from today.

Devotees were seen offering prayers at Eidgah Mosque in Lucknow.

Devotees also offered prayers at Shree Dodda Ganapathi Temple in Basavanagudi, Bengaluru.

Hanuman Garhi Temple in Ayodhya also reopened on Monday.

Prayers were offered at Durga Mata Mandir near Jagraon Bridge in Ludhiana, as the government has allowed reopening of places of worship.

Although religious places have opened in most of the states, however, there are some states which are yet to do so.

Preparations related to Yatra of Char Dhams including Badrinath have been completed, however, local representative of the areas from where the routes of this yatra pass have requested the government to not allow the commencement of the Yatra.

Based on the assessment of the situation, the Odisha Government ordered that all religious places/places of worship for the public will continue to remain closed till June 30.

Earlier, the Union Ministry of Home Affairs (MHA) said that religious places and places of worship for public, hotels, restaurants and other hospitality services along with shopping malls will be permitted to open from June 8.

However, these facilities will not be able to resume operations inside containment zones designated by authorities in states.

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Agencies
May 4,2020

New Delhi, May 4: The government has not talked about charging anything from migrant labourers as 85 per cent of the transportation cost is borne by the railways and 15 per cent by state governments, the Centre said on Monday amid a row over the national transporter allegedly charging the workers for ferrying them home during the COVID-19-induced lockdown.

The government also said the process of transporting the stranded migrant labourers was being coordinated by states “except for one or two states”.

Asked if the migrant labourers were being charged for being ferried home, Joint Secretary at the Health Ministry Lav Agarwal said that as far as migrant labourers are concerned, the guidelines have clearly stated that under the infectious disease management one should stay where he or she is.

“Based on the request given from states for particular cases, permission was given to run special trains. Be it government of India or the Railways, we have not talked about charging from workers. Eighty-five per cent of the transportation cost is borne by the Railways, while states have to bear 15 per cent of the cost,” he told reporters.

“Based on the request of the states the process that started, under which limited number of stranded migrant labourers have to be transported for a particular reason, is being coordinated by the state governments, except for one or two states,” Agarwal said.

At the daily briefing on the COVID-19 situation, Agarwal also said that in the last 24 hours, 1,074 COVID-19 patients have recovered, the highest number of recoveries in one day.

The recovery rate stands at 27.52 per cent with 11,706 COVID-19 patients cured till now, he said.

Agarwal said in the last 24 hours, 2,553 novel coronavirus cases were reported, taking the number of overall cases to 42,533. The total number of active cases stands at 29,453, he said.

The joint secretary also said that the COVID-19 curve is relatively flat as of now and it was not right to talk in terms of when the peak would come.

“If we collectively work then the peak might not ever come, while if we fail in any way we might experience a spike in cases,” he said.

Amitabh Kant, Chairman of the Empowered Group dealing with civil society, NGOs, industries and international partners, said in 112 aspirational districts, “we worked with the collectors and in these 112 districts only 610 cases have been reported which is two per cent of the national level infection”.

In these 112 districts, 22 per cent of India's population resides, he said.

In a few districts like Baramulla, Nuh Rachi, Kupwara and Jaisalmer more than 30 cases have been reported, while in the rest of the places very few cases are there, Kant said.

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alert
 - 
Tuesday, 5 May 2020

why is no one talking about privatized railways? why Adani is not offering free travel to laborers?

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News Network
January 21,2020

Jan 21: Indian policymakers may make it easier for companies to tap foreign funding, as a prolonged cash squeeze makes it tough for firms to borrow at home.

Investors are speculating about potential steps Finance Minister Nirmala Sitharaman could unveil when she presents the nation’s budget on Feb. 1. These measures may include freeing up firms to borrow at higher rates and offering tax breaks to global funds.

“The government will need to relax local rules to make it easier for Indian companies to raise debt overseas and tide over the funding crunch in the onshore market,” said Raj Kothari, London-based head of trading at Jay Capital Ltd. “At the same time, they need to ensure that the borrowers tapping offshore markets abide with stricter corporate governance so as to avoid further defaults.”

A prolonged crisis in India’s shadow bank sector and a pile of bad loans at traditional lenders is making it expensive for Indian companies, other than the best-rated firms, to access funding. The government has tried a series of measures to spur domestic credit, including providing so-called credit enhancement and allowing tiny firms to restructure debt.

Here are some steps Sitharaman may consider to spur foreign borrowing:

• She could raise the cap of 450 basis points above Libor, which limits overall foreign debt costs for Indian companies

• This could help lower-rated firms sell bonds abroad. Indian companies rated BBB currently borrow at more than 10%, about 3.8 percentage points more than their top-rated peers;

• Sitharaman could waive the withholding tax foreign investors need to pay on holdings of rupee-denominated debt sold by Indian companies abroad

• The waiver was offered between September 2018 to March 2019, but wasn’t extended as the highest global interest rates since the financial crisis deterred Indian borrowers. Since then, the three-month Libor has dropped by about 1 percentage point

• She could permit Indian property developers and housing finance lenders to sell overseas bonds for reasons beyond affordable housing projects

• New funding lines to the real estate sector, arguably ground zero of India’s economic slowdown, could help kickstart consumption and investment as the industry is the nation’s biggest job-creator.

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