After GMR, Indian carmakers in deep waters in Sri Lanka

December 12, 2012

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New Delhi, Dec 12: After the Maldives, India’s economic interests are in deep waters in another neighbouring island nation, Sri Lanka.

 

Notwithstanding the setback in its efforts to help the GMR Group in the Maldives, New Delhi has now taken up the cudgels for Indian carmakers and urged Colombo to roll back the recent steep hikes in import duty on automobiles.

 

“The Indian High Commission in Colombo has taken up the matter with the Sri Lankan government. The issue will be discussed again when the Finance Secretary of Sri Lanka would travel to India,” said Syed Akbaruddin, Spokesperson of the Ministry of External Affairs (MEA), on Tuesday. Sri Lankan finance secretary Dr P B Jayasundera is set to visit India shortly.

 

The Sri Lankan government recently raised excise duty on imported utility vehicles from 100 per cent to 173 per cent. Duty on cars with less than 1000 cc engines was also raised from 120 per cent to 200 per cent, including a 47 per cent hike in excise duty.

 

The excise duty on both three-wheelers and two-wheelers were raised from 45 per cent and 61 per cent respectively to 100 per cent. Besides, an absolute levy of $ 845.95 was imposed on all commercial vehicles, in addition to an 12 per cent excise duty. Indian carmakers would be hit hard by the steep hike as the island nation is the largest export market, accounting to nearly 13 per cent of the total automobile export.

 

The Ministry of Commerce is understood to have sought the help of the MEA to take up the issue diplomatically with the Sri Lankan government.

 

Rajiv Kher, additional secretary in the Ministry of Commerce, on Monday said that New Delhi was concerned over the “very substantial rise in import tariff” by Sri Lank as the island nation on the Indian Ocean was a “very important market” for cars and commercial vehicles manufactured in India.

 

Lately, New Delhi has reacted very strongly to the Maldivian government’s decision to terminate its agreement with a consortium led by Indian infrastructure giant GMR Group to manage the international airport in an island close to the archipelagic nation’s capital Male. New Delhi warned Maldives about the repercussions their move could have on bilateral ties.

 

But a judgment of the Court of Appeal of Singapore on December 6 ruled that the Maldivian government could take control of the airport from the GMR Male International Airport Limited or GMIAL, a joint venture of GMR Infrastructure and Malaysia Airports Holding Berhad.

 

The judgment came as a setback for the GMR Group that had earlier got an injunctive relief from the High Court of Singapore against the applicability and operations of the notice the Maldivian government had served the company on November 27 seeking to take back the control of the airport. India subtly toned down its rhetoric on Maldives move against GMIAL after the judgment.

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Agencies
June 11,2020

New Delhi, Jun 11: India on Thursday rejected a US government report that voiced concerns over alleged attacks and discrimination against religious and ethnic minorities in the country.

"Our principled position remains that we see no locus standi for a foreign entity to pronounce on the state of our citizens' constitutionally protected rights," Spokesperson in the Ministry of External Affairs Anurag Srivastava said.

He was replying to a question on the report at an online media briefing.

Mandated by the US Congress, the '2019 International Religious Freedom Report' that documents major instances of violation of religious freedom across the world was released by Secretary of State Mike Pompeo on Wednesday.

"India's vibrant democratic traditions and practices are evident to the world. The people and government of India are proud of our country's democratic traditions," the spokesperson said.

"We have a robust public discourse in India and constitutionally mandated institutions that guarantee protection of religious freedom and rule of law," he added.

The India section of the report said that US government officials underscored the importance of respecting religious freedom and promoting tolerance and mutual respect throughout the year with the ruling and opposition parties, civil society and religious freedom activists, and religious leaders belonging to various faith communities.

The report referred to the revocation of the special status of Jammu and Kashmir last August and the passage of the Citizenship Amendment Act (CAA) in Parliament in December as major highlights for India last year.

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News Network
March 9,2020

New Delhi, Mar 9: Petrol and diesel prices registered a drop across the country on Monday as global oil prices plummeted around 30 per cent after Saudi Arabia slashed prices and set plans for a dramatic increase in crude production in April.

In New Delhi, petrol price fell by 24 paise intra-day and stood at Rs 70.59 per litre. Diesel in the national capital was retailed at Rs 63.26 per litre on Monday as against Rs 63.51 on Sunday.

The retail price of petrol in Kolkata saw a drop of 23 paise to Rs 73.28 per litre. The diesel price fell by 25 paise in the eastern metropolitan city to retail at Rs 65.59 per litre.

In Mumbai, petrol price was Rs 76.29 per litre as against Rs 76.53 a day earlier. Diesel was retailed at Rs 66.24 per litre, 26 paise lower than on Sunday.

In Chennai, petrol was retailed at Rs 73.33 per litre, 25 paise lower than a day earlier. Diesel price saw a fall of 26 paise to retail at Rs 66.75 per litre in the southern metropolitan.

Global crude oil prices fell by as much as a third following Saudi Arabia's move to start a price war with Russia amid worries over the spread of coronavirus.

Brent crude futures were down 13.29 dollars or 29 per cent at 31.98 dollars a barrel by 04:33 hrs GMT after earlier dropping to 31.02 dollars, their lowest since February 12, 2016.

Brent futures were on track for their biggest daily decline since January 17, 1991 at the start of the first Gulf War.

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News Network
July 16,2020

New Delhi, Jul 16: India's pharmaceutical industry will be able to produce Covid-19 vaccines not just for the country but also for the entire world, according to Microsoft co-founder and philanthropist Bill Gates.

A lot of "very important things have been done" in India and its pharma industry is doing work "to help make the coronavirus vaccine building on other great capacities that they have used for other diseases", said the Co-Chair and Trustee of Bill and Melinda Gates Foundation.

Speaking in a documentary -- Covid-19: India's War Against The Virus -- to be premiered on Discovery Plus this (Thursday) evening, Gates said India also faces a huge challenge due to the health crisis because of its gigantic size and urban centres with a lot of population density.

Commenting on the strength of India's pharma industry, he said, "India has a lot of capacity there -- with the drug and vaccine companies that are huge suppliers to the entire world. You know, more vaccines are made in India than anywhere-- starting with Serum Institute, that's the largest."

He further said, "But (there are) also Bio E, Bharat (Biotech), many others. They are doing work to help make the coronavirus vaccine, building on other great capacities that they have used for other diseases."

Stating that India joined Coalition for Epidemic Preparedness Innovations (CEPI), which is a group working on a global basis to build vaccines platforms, Gates said, "I am excited that the pharmaceutical industry there will be able to produce not just for India but also for the entire world. (This is) What we need to reduce the deaths and make sure we are immune, which is how we end the epidemic."

Gates said Bill and Melinda Gates Foundation is also a "partner with the government, particularly with the department of biotechnology, the Indian Council of Medical Research (ICMR) and the office of the principal scientific advisor provide advice and help about getting these tools going".

Commenting on the deadly virus breaching India's borders in the documentary which was shot extensively during the period of lockdown, he said, "India is still at the beginning of this, but there's a lot of very important things have been done.

“It's a huge challenge with India because you've got a gigantic country. You've got your urban centers with a lot of density-- and so that-- drives the spread. You have people moving around."

He, however, added: "Yet people are stepping up... Looking at how we reduce the spread while trying not to reduce food availability, equipment that people need."

Highlighting Gates foundation's role, he said it has "worked for the Indian government on health issues like introducing new vaccines over the last decade; and so when Covid-19 came along, we stepped in and said you know where are the gaps, we have been funding work on detection and isolation.

“We have been particularly active in UP and Bihar where we have done health delivery in the past."

The foundation is also working with the department of personnel and training to take their online training platforms and "are now using that guidance to help their frontline health workers", Gates said. 

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