Protesters at Vancouver mark endnote for Modi's visit

April 17, 2015

Vancouver, Apr 17: Slogan-shouting and placard-waving protesters greeted Prime Minister Narendra Modi on Thursday at Canada's oldest gurdwara in Vancouver and a temple, the only sore points during a three-nation tour which resulted in ground-breaking agreements across several vital sectors.

Vancouver Protest

The protests outside the Ross Street gurdwara and also the Laxminarayan temple in Surrey saw people from different communities raising issues ranging from secularism to the 2002 Gujarat riots.

The 500-odd protestors, some armed with bullhorns, claimed to represent various Indian religious groups, and held up placards relating to the 2002 Gujarat riots, which took place when Modi was the chief minister of the state.

Slogans like "Modi, Go Back" rent the air though the protest was peaceful amidst heavy police deployment and road blocks.

Some among the protesters were objecting to the presence of Canadian PM Stephen Harper for a new anti-terror law that gives sweeping powers to the police and security agencies.

Modi prayed at the gurdwara and also remembered the 1914 Komagata Maru incident when Canada did not let in hundreds of Sikhs, a community acknowledged as a major contributor to the country's economy today.

"The Sikh community has worked hard and has earned the respect of the people of Canada. India is respected in Canada and this is due to your efforts. Wherever we are, let us do things that bring pride to our nation," Modi said while addressing devotees at the Khalsa Diwan gurdwara.

Later, Modi and Harper were gifted Sikh ceremonial swords by the gurdwara committee.

"This is a very significant visit. Modi is the third Indian prime minister to come here, after Jawaharlal Nehru in 1949 and Indira Gandhi in 1973," Khalsa Diwan society president Sohan Singh Deo said.

Modi's trip to Canada is the first bilateral visit by an Indian prime minister in 42 years.

Later, the two leaders went to the Laxminarayan temple, where the number of the protestors grew as Surrey has a sizable South Asian population.

The protests evoked sharp response from supporters of Modi who chanted "Modi, Modi" while waving flags of India and Canada.

The Prime Minister also prayed at the temple, with the priest applying tika on his forehead.

"I bring greetings from 1.2 billion Indians to the 1.2 million Indians living in Canada. In India, the Supreme Court gave a superb definition for Hinduism: they said that it is not a religion but a way of life: how to live in synchrony with nature," the Prime Minister said.

The official Twitter account of the Prime Minister's Office said he also bowed in remembrance to the 1914 Komagata Maru incident, where hundreds of Sikh passengers were not allowed to alight on Canadian soil due to their Asian origin.

The Komagata Maru was a Japanese steamship, which was sailing from Hong Kong to Vancouver with 376 passengers from Punjab on board, a majority of whom were Sikhs. Only 24 were admitted to Canada, while the rest were forced to return to India.

Modi wrapped up his engagements in Canada with a state banquet hosted by the Canadian Prime Minister.

Talking business

Earlier, top executives at Canada's largest banks, insurers and pension funds sounded bullish over investing in India after meeting Modi who held a roundtable with the heads of major Canadian financial institutions in Toronto.

Modi said he understood the need for consistency in regulation and that India has learnt from its past missteps.

The message resonated with Canadian business heads, some of whose firms have already lined up, or raised funds to invest in India.

"It's great to see a leader who's focused on reducing red tape, reducing roadblocks, and encouraging development," said Dean Connor, chief executive of insurer Sun Life Financial Inc that has had a presence in India for over 15 years.

Connor, noting that Modi clearly expressed that his government would not pursue retrospective application of tax rules, which has been a problematic issue for investors in the past.

Scotiabank CEO Brian Porter felt India had "great growth potential" and have been "encouraged by the significant reforms Prime Minister Modi has achieved less than one year after taking office."

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News Network
February 11,2020

New Delhi, Feb 11: As the counting of votes for the Delhi Assembly polls began, Congress leader Digvijaya Singh on Tuesday raised doubts on EVMs, alleging that no machine having a chip is tamper-proof.

He called upon the Election Commission and the Supreme Court to take a fresh look at the use of EVMs in the country.

"No machine (which) has a chip is tamper-proof. Also please do for a moment think, why no developed country uses EVM," Singh said in a tweet.

"Would CEC and Hon Supreme Court please have a fresh look on EVM voting in India? We are the largest democracy in the world, we can't allow some unscrupulous people to hack results and steal the mandate of 1.3 billion people.

"If they match the votes in the counting unit. Declare the result. If they don't match then count the ballots of all polling booths in the assembly. It would convince everyone and save time also as this has been the consistent argument of CEC in favour of EVM," the Congress leader said.

Polling for the 70-member Delhi Assembly polls was held on Saturday.

The Election Commission on Sunday announced that the final voter turnout was 62.59 per cent, five per cent less than 2015.

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Agencies
July 15,2020

Mumbai, Jul 15: In a mega investment announcement, Reliance Industries (RIL) Chairman Mukesh Ambani on Wednesday said that Google will invest ₹ 33,737 crore in Jio Platforms for an equity stake of 7.73%.

Google is investing at an equity valuation of ₹ 4.36 lakh crore, said an RIL regulatory filing.

"Jio Platforms Limited, a subsidiary of the Company, today signed binding agreements with Google International LLC pursuant to which Google would invest ₹ 33,737 crore for a 7.73 % equity stake in Jio Platforms Limited on a fully-diluted basis. Google is investing at an equity valuation of ₹ 4.36 lakh crore," it said.

The transaction is subject to customary regulatory approvals.

Speaking at the Annual General Meeting of RIL, Ambani said that he looks forward to working with investors in Jio Platforms in a collaborative way.

Making another major announcement, the RIL Chairman said that Jio has designed a complete 5G solution and it will be available for trials as soon as spectrum is available.

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News Network
May 18,2020

May 18: Goldman Sachs expects India will experience its deepest recession ever after a poor run of data underscored the damaging economic impact of lockdowns in the world’s second-most populous nation.

Gross domestic product will contract by an annualized 45% in the second quarter from the prior three months, compared with Goldman’s previous forecast of a 20% slump. A stronger rebound of 20% is now seen for the third quarter, while projections for the fourth quarter and first of next year are unchanged at 14% and 6.5%.

Those estimates imply that real GDP will fall by 5% in the 2021 fiscal year, which would be deeper than any other recession India has ever experienced, Goldman economists Prachi Mishra and Andrew Tilton wrote in a note dated May 17.

India’s government has extended its nationwide lockdown until May 31, while further easing restrictions in certain sectors to boost economic activity, as coronavirus cases escalate across the country. The announcement followed Finance Minister Nirmala Sitharaman’s fifth briefing in as many days, in which she outlined details of the country’s $265 billion virus rescue package, which is equivalent to 10% of India’s GDP.

 “There have been a series of structural reform announcements across several sectors over the past few days,” the Goldman economists wrote. “These reforms are more medium-term in nature, and we, therefore, do not expect these to have an immediate impact on reviving growth. We will continue to monitor their implementation to gauge their effect on the medium-term outlook.”

Infections are surging across the South Asian nation of 1.3 billion people, with more than 91,300 infections, including 2,897 deaths as of Sunday, according to data from Johns Hopkins University.

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