Obama hosts dinner for Modi ahead of Summit talks

September 30, 2014

Obama Modi DinnerWashington, Sep 30: Ahead of their Summit talks, US President Barack Obama today hosted private dinner for Prime Minister Narendra Modi as the two leaders sought to reinvigorate bilateral ties.

The Prime Minister, who arrived here late afternoon at the Andrew Airforce Base, was received by William Burns, Deputy Secretary of State and other senior officials.

From there, Modi left for the Blair house, the American President's guest house where he will be staying during his Washington trip. Later, he drove to the White House from the Blair guest house for the dinner.

"Kem Cho," asked Obama when he welcomed Modi, who replied, "Thank you very much, President."

The dinner, with limited guests from each side in the Blue Room of the White House might have a delectable spread of dishes, but the main guest only had warm water as he was observing Navratri fasts.

However, First Lady Michelle Obama did not attend the dinner as she was travelling.

"The Prime Minister did not had anything except for warm water," External Affairs Ministry Spokesperson Syed Akabruddin said.

Later, Modi said he had a wonderful meeting with Obama during which they talked about a wide range of issues.

"Obama & I share a vision for a partnership in which our nations work together for the benefit of the entire humankind," the Prime Minister tweeted.

On the issues of discussion during the 90-minute dinner meeting, Akabruddin said discussions were largely on knowing each other and sharing the initial experiences after they took over.

They shared anecdotes to connect with each other, he said while describing the dinner meeting as a "very successful interaction".

"They did not get to discuss any of the substantive issues. This was a very cordial and comforting conversation where each of them were trying to understand others perspective and they did not get into very substantive discussion which will follow tomorrow," he added.

They agreed to take up more substantive issue tomorrow -- both in restrictive format and in delegation level talks -- but in general the thinking was that there was a lot of goodwill between India and the US for each other, he said.

"There was a feeling that they should try and focus on some big things that they can achieve in a finite time period in the next few years," the Spokesperson said.

"There was also a feeling that India-US relationship was among the most important relationships in the world today. And therefore, it was incumbent upon both of them to work towards strengthening and deepening this relationship," he said.

The Prime Minister was asked to outline his vision of what were the issues he faced so far and how he was working on it, the Spokesperson said.

"Remarkably some of those things the Prime Minister mentioned seemed to have resonance with President Obama, because he said he had similar concerns when he came in power.

Giving example of how the two leaders connected, he said Prime Minister told Obama that when he came to Delhi he found that the technological infrastructure in the Indian capital was not even as good as Gujarat to which the US President said he had similar experience.

They both talked about their focus areas of technology and e-governance.

The two leaders have jointly written an editorial in a US newspaper which would be published tomorrow.

Modi also laid out in great details his hopes and aspirations in terms of what was his development vision and how the US can help in achieving that. There was general understanding that the US and India can work not only in terms of bilateral relations but elsewhere in the world, the Spokesperson said, adding in this context they talked about Ebola disease and Afghanistan. These were the two issues that were broadly flagged, he said.

Basically, today's meeting had three major components -connecting with each other, vision for the ties and cooperation in various areas, the Spokesperson added.

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News Network
March 21,2020

Mar 21: India’s economy, already in the grip of a slowdown, is in for more pain after Prime Minister Narendra Modi appealed to citizens to stay at and work from home to curb the coronavirus outbreak.

The services sector, which accounts for about 55% of India’s gross domestic product, is poised to be the worst hit after Modi, in a late evening address on Thursday, urged citizens to go on a self-imposed curfew for a day and private companies to allow employees to work from home for longer. In the country’s vast informal sector, social-distancing measures could mean a dent to productivity and consumption because of job or pay losses.

“The impact of a partial lock-down or social distancing will be significant,” said Rahul Bajoria, a senior economist at Barclays Plc in Mumbai. “If there’s a widespread community outbreak, GDP could fall as low as 3.5% in the year starting April 1.”

Shrinking output may limit growth in an economy that’s already set to expand at an 11-year low of 5% in the current year to March 31. Before the virus outbreak, India had forecast growth to recover to 6%-6.5% in the next fiscal year. S&P Global Ratings and Fitch Ratings have already slashed their growth forecast by 50 basis points.

“The current social-distancing measures will severely impact airlines, hotels, malls, multiplexes, restaurants and retailers,” according to analysts at Crisil Ltd., the local unit of S&P Global. “Lower footfalls and occupancies, decline in business volume and sub-optimal operating efficiencies will impact cash flows of companies in these sectors,” wrote the analysts led by Chief Economist Dharmakirti Joshi.

The government will try to announce a relief package for virus-affected sectors as early as possible, Finance Minister Nirmala Sitharaman said Friday.

In a televised address, Modi advised all citizens to stay at home for a day on March 22, as he sought to stem the spread of the coronavirus -- cases of which are relatively low in India at about 200, compared with more than 200,000 infected people globally. His government also barred incoming flights for a week from that day, joining a growing list of countries effectively sealing their borders.

What Bloomberg’s Economists Say

We had only earlier this week lowered our GDP outlook to consider the direct impact of the local outbreak as confirmed virus cases exceeded 100 as of March 15 and the federal and state governments announced social distancing measures that have already started to crimp economic activity. We are now revising down our GDP estimate for 4Q fiscal 2020 to 3.3%, from our 3.5%.

-- Abhishek Gupta, India economist

For more, click here

“Consumption being the biggest component of GDP, a lock-down is bound to have a big impact on the economy,” said Devendra Kumar Pant, chief economist at India Ratings and Research, the local unit of Fitch. “Modeling uncertainty in any system will be very difficult, but one can say the slowdown could deepen or prolong further.”

Work From Home

While companies, including billionaire Mukesh Ambani-controlled Reliance Industries Ltd., are asking employees to work from home, the option isn’t feasible in India’s vast informal sector.

“The option to work remotely simply won’t exist for most,” said Shilan Shah, an economist with Capital Economics Pte. in Singapore.

As many households don’t have savings buffers, the government would probably have to back this up with large-scale cash handouts that reach the poorest, he said.

Work from home is posing implementation challenges for the manufacturing sector where workers are required to be physically present at the production sites. The services sector, such as banking and information technology, also needs employees to be present in offices as confidential data is used, according to industry group Federation of Indian Chambers of Commerce and Industry.

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News Nerwork
June 7,2020

New Delhi, Jun 7: Rain lashed some parts of the Delhi-NCR on Sunday morning.

The India Meteorological Department (IMD) has predicted partly cloudy sky with possibility of development of thunder lightning for three days from June 10 onwards with minimum and maximum temperature will hover around 29° Celcius and 42° Celcius respectively.

Strong surface winds during day time have been predicted for today by IMD.

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News Network
February 3,2020

New Delhi, Feb 3: The Allahabad High Court on Monday granted bail to former BJP leader Swami Chinmayanand in the alleged rape case of a law student. He was arrested in September last year after the 23-year-old woman accused him of sexual harassment and blackmail.

The woman was a student of the Chinmayanand-controlled SS Law College in Shahjahanpur in Uttar Pradesh.

Chinmayanand is facing charges under Sections 376C (sexual intercourse by a person or persons taking advantage of their official position), 354 D (stalking), 342 (wrongful confinement) and 506 (criminal intimidation) of the Indian Penal Code (IPC).

The case is being investigated by a Special Investigation Team (SIT) formed on the directions of the Supreme Court.

The case came to light after the woman posted a video on August 23 last year on social media alleging that “a senior leader of the saint community” was harassing and threatening to kill her. The law student went missing a day later, after which her father lodged a complaint, accusing Chinmayanand of harassing his daughter.

Chinmayanand was expelled from the BJP after his arrest.

The SIT had, on November 6, submitted chargesheet in the case.

In a parallel case, the woman was charged with trying to extort money from Chinmayanad. The Allahabad High Court granted her bail in that case in December last year.

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