World’s engagement with India at ‘new level’: Modi

March 14, 2015

Colombo, Mar 14: Prime Minister Narendra Modi has said global confidence in India has been restored and the world’s engagement with the country is at a “new level” even as he assured Sri Lanka that steps would be taken to address its concerns over the huge bilateral trade imbalance.

Mr. Modi said this while asserting that India and Sri Lanka should move “boldly” to conclude a long pending Comprehensive Economic Partnership Agreement (CEPA).

Modi srilanka

Stating that Sri Lanka has the potential to be India’s “strongest economic partner” in the region, Modi said it should not worry about India’s economic size.

In his address to Sri Lanka’s business community at the Ceylon Chamber of Commerce in Colombo on Friday night, the Prime Minister acknowledged that there were concerns in Sri Lanka about the huge trade imbalance.

“I am prepared to work with you to address them. I want balanced growth in trade. We will try to make it easier and smoother for you to access the Indian market,” he said on the first day of his two-day visit to the country, the first by an Indian Prime Minister since 1987.

Sri Lanka is India’s major trading partner in South Asia.

The bilateral trade between India and Sri Lanka in 2013-14 was $5.23 billion with Indian exports amounting to USD 3.98 billion and Sri Lankan exports amounting to $678 million.

“I often say that a nation’s fortunes are linked to its neighbourhood. There are many in India who would argue that India is too large to need her neighbours.

“There are many in our region who worry that India’s economic size will hurt them. I disagree with both views. For one, we all need a stable and peaceful neighbourhood to concentrate on national development,” he added.

“There are already powerful examples in South Asia that show us that differences in size is no constraint to beneficial partnerships, if we use our strengths and seize our opportunities”.

The Prime Minister said India is opening up to the world and have Free Trade Agreements with ASEAN and others.

Underlining the need to expand the ongoing Free Trade Agreement (FTA) that was signed in December 1998, Modi said India will take all necessary measures to ensure that Sri Lankan goods enter Indian markets smoothly.

“We should ensure that Sri Lanka does not fall behind in the changing and competitive world. That is why India and Sri Lanka should move boldly to conclude a Comprehensive Economic Partnership Agreement,” he said.

“You should also attract investments from India for exports to India. That should be the natural outcome of our proximity and your strengths,” he added.

Chairman of the Ceylon Chamber of Commerce Suresh Shah while referring to the already existing Free Trade Agreement between Sri Lanka and India said, “CEPA has been on the backburner in Sri Lanka. This is partly due to politics and partly due to concerns on the part of some sections of the Lankan business community who perceive a playing field tilted in favour of their Indian counterparts.”

Sri Lanka’s President Maithripala Sirisena while addressing local Sri Lankan businesses recently said, “I want to assure you that I will not enter any agreement with any country that will be harmful to our businesses.”

The CEPA begun initially in 2003 is yet to be implemented by Sri Lanka and India. The majority of the Sri Lankan business community and professional bodies were not convinced about the benefits from a CEPA. They were of the opinion that a bilateral agreement between a small country and a large country is bad news for the small country.

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News Network
June 8,2020

Jun 8: Petrol and diesel prices were hiked by 60 paisa per litre on Monday, for the second day in a row, as state-owned oil firms reverted to daily price revisions after a 83-day hiatus.

Petrol price in Delhi was hiked to Rs 72.46 per litre from Rs 71.86 on Sunday, while diesel rates were increased to Rs 70.59 a litre from Rs 69.99, according to a price notification of state oil marketing companies.

This is the second daily increase in rates in a row. Oil companies had on Sunday raised prices by 60 paisa per litre on both petrol and diesel after ending a 83-day hiatus in daily rate revision.

Daily price revision has restarted, an oil company official said.

While oil PSUs have regularly revised ATF and LPG prices, they had since March 16 kept petrol and diesel prices on hold, ostensibly on account of extreme volatility in the international oil markets.

Auto fuel prices were frozen soon after the government raised excise duty on petrol and diesel by Rs 3 per litre each to mop up gains arising from falling international rates.

The government on May 6 again raised excise duties by Rs 10 per litre on petrol and Rs 13 per litre on diesel.

Oil companies, instead of passing on the excise hike to consumers, decided to adjust them against the reduction required because of the drop in international oil prices. They used the same tool and did not pass on the Re 1 per litre hike required for switching over to ultra-clean BS-VI grade fuel from April 1.

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Agencies
June 8,2020

Idukki, Jun 8: Devikulam MLA S Rajendran from CPM along with supporters staged a protest by blocking the Munnar-Udumalpet interstate highway here on Monday, demanding that action to be taken to prevent wild elephants entering into human settlements and destroying properties.

The protest started at 9.30 am and demand was made that senior forest officials should give them assurance of putting an end to the problem.

A police team led by Munnar Deputy Superintendent of Police (SP) Ramesh Kumar was camping in the area.

Wild elephants from the nearby forest are frequently trespassing into Munnar and last night two elephants destroyed a vegetable shop in the town.

If it was a lone elephant that the locals nicknamed as Padayappa that used to enter the human settlement, now along with him a baby elephant is also coming to the town at night.

The locals have named the second elephant Ganeshan. Though there were instances of them destroying crops and eating from vegetable shops, till now the duo has not attacked humans.

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Agencies
January 9,2020

Kashmir, Jan 9: US Ambassador to India Kenneth I Juster along with envoys from 15 other countries arrived in Srinagar on a two-day visit to Jammu and Kashmir on Thursday, the first visit by diplomats since the abrogation of the erstwhile state's special status in August last year.

The Delhi-based envoys arrived in Srinagar by a special chartered flight at Srinagar's technical airport where top officials from the newly carved out union territory received them, officials said.

Later in the day, they would be going to Jammu, the winter capital of the newly created Union Territory, for an overnight stay. They will meet Lt Governor G C Murmu as well as civil society members, they said.

Besides the US, the delegation will include diplomats from Bangladesh, Vietnam, Norway, Maldives, South Korea, Morocco, and Nigeria, among others.

Brazil's envoy Andre Aranha Correa do Lago was also scheduled to visit Jammu and Kashmir. However, he backed out because of his preoccupation here, the officials said on Wednesday.

Envoys from the European Union (EU) countries are understood to have conveyed that they will visit the union territory on a different date and are also believed to have stressed on meeting the three former chief ministers -- Farooq Abdullah, Omar Abdullah and Mehbooba Mufti -- who are under detention.

Officials said envoys of several countries had requested the government for a visit to Kashmir to get a first-hand account of the situation in the Valley following the August 5 decision to abrogate provisions of Article 370 and bifurcate it into two union territories, Jammu and Kashmir, and Ladakh.

This is the second visit of a foreign delegation to Jammu and Kashmir since August 5. Earlier, Delhi-based think tank International Institute for Non-Aligned Studies, a Delhi-based think tank took 23 EU MPs on a two-day visit to assess the situation in the union territory.

The government had distanced itself from the visit with Minister of State for Home G Kishan Reddy informing Parliament that the European parliamentarians were on a "private visit".

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