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Saudi a ‘valued friend’: PM Modi in Riyadh

Agencies
October 29, 2019

Riyadh, Oct 29: Prime Minister Narendra Modi arrived in Riyadh late on Monday night on a two-day visit, during which he will attend the third edition of Saudi Arabia's high-profile annual financial conference and hold bilateral talks with top leadership of the Gulf Kingdom.

"Landed in the Kingdom of Saudi Arabia, marking the start of an important visit aimed at strengthening ties with a valued friend. Will be taking part in a wide range of programmes during this visit," the Prime Minister tweeted.

He will deliver the keynote address under the title ''What's next for India?'' at the Future Investment Initiative (FII), which is dubbed as ''Davos in the Desert''.

Besides addressing the forum, he will hold bilateral talks with Saudi King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman. The two sides are expected to sign a number of agreements in several key sectors including oil and gas, renewable energy and civil aviation to bolster their ties.

The three-day forum, beginning on Tuesday, will host financiers, governments, and industry leaders who would discuss global trade and explore the trends, opportunities and challenges shaping the global investment landscape over the coming decades.

"India and Saudi Arabia have enjoyed traditionally close and friendly relations. Saudi Arabia has been one of the largest and reliable suppliers of India's energy needs," PM Modi said in his departure statement in New Delhi.

He noted that defence, security, trade, culture, education and people-to-people contacts are the other important areas of bilateral cooperation with Saudi Arabia.

The two sides would also sign an agreement to establish a Strategic Partnership Council to coordinate on key issues. The council will be headed by Prime Minister Modi and the crown prince and it will meet every two years.

"The Agreement for establishment of the Strategic Partnership Council will further elevate the India-Saudi Arabia Strategic Partnership to a new level," the prime minister said in his statement.

This would be Prime Minister Modi's second visit to the Gulf Kingdom. During his first visit in 2016, King Salman conferred Saudi's highest civilian award on him. The Crown Prince visited India in February 2019, giving a further fillip to the bilateral ties.

India's relations with Saudi Arabia have been on an upswing over the last few years. India's bilateral trade with Saudi Arabia was at USD 27.48 billion in 2017-18, making Saudi Arabia its fourth largest trading partner.

Saudi Arabia last month said that it was looking at investing USD 100 billion in India in areas of energy, refining, petrochemicals, infrastructure, agriculture, minerals and mining.

At the FII forum, Prime Minister Modi will speak on India's economy, its challenges and opportunities for equitable growth and prosperity.

"I will speak about the growing trade and investment opportunities for the global investors in India as the country marches forward to a 5 trillion dollar economy by 2024," PM Modi said.

The high-profile forum faced widespread boycott in 2018 in the aftermath of killing of Saudi dissident journalist Jamal Khashoggi, who was murdered in the Kingdom's consulate in Istanbul, Turkey by Saudi security agents.

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Agencies
July 30,2020

Mumbai, Jul 30: Counterfeiting incidents have increased 24 per cent in the country in 2019 over the previous year, creating an over Rs 1 lakh crore hole in the economy, according to a report.

The report also said counterfeiters are having a free run due to the pandemic-driven disruptions to organised supply chains and the resultant spike in consumer demand.

According to the report by ASPA, a self-regulated industry body of anti-counterfeiting and traceability solutions providers, counterfeiting has risen steadily in the last few years, and exploiting the pandemic as a cover for their activities.

Between February and April 2020, over 150 incidents of counterfeiting cases were reported, mostly about fake PPE kits, sanitisers and masks taking advantage of the high demand for these products, it noted.

"There was a 24 per cent increase in counterfeiting in 2019 over 2018, leading to the loss of more than Rs 1 lakh crore to the overall economy," said Nakul Pasricha, president of Authentication Solution Providers Association.

The association works with global authorities like the International Hologram Manufacturers Association, Counterfeit Intelligence Bureau of the Interpol, and domestic industry lobbies like Ficci, he said.

Counterfeiting is a universal issue and is 3.3 per cent of global trade, according to the OECD data, impacting social and economic development across the world.

The report lists the currency, FMCG, alcohol, pharma, documents, agriculture, infrastructure, automotive, tobacco, lifestyle and apparel, as the 10 sectors impacted most by counterfeiting.

Among these, currency, alcohol and FMCG continue to be the top three sectors with the highest counterfeiting in the last two years. The FMCG sector is most vulnerable, as counterfeit incidents rose 63 per cent between 2018 (79) and 2019 when the reported cases jumped to 129.

Within the states, the fakers have a free run in Uttar Pradesh, Bihar, Rajasthan, Madhya Pradesh, Bengal, Punjab, Jharkhand, Delhi, Gujarat, and Uttarakhand, calling for urgent actions to frame anti-counterfeiting policy measures.

According to the report, UP continues to be on top followed by Bihar, Rajasthan, and together these three states represent almost 45 per cent of all counterfeiting reported in the last two years.

What is more alarming is that counterfeiting is not limited to high-end luxury items today, as common everyday items as fake cumin seeds, mustard cooking oil, ghee, hair oils, soaps, baby care vaccines and medicines are aplenty in the markets.

"There is an urgent need for building and nurturing authentication ecosystems in the country with the active involvement and active participation of all stakeholders," said Pasricha.

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Agencies
May 1,2020

Saudi Arabia has initiated refund of work visa fee to foreigners unable to travel to the Kingdom due to the suspension of international flights in the aftermath of Covid-19 pandemic.

Several work visas were cancelled, following which the Ministry of Human Resources and Social Development, in cooperation and coordination with the Ministry of Foreign Affairs, announced the refund. The cancellation and refunding of the stamped visas will be considered effective from the date of issuance of the royal decree on March 18, reported Saudi Gazette.

As a precautionary measure to curb the spread of coronavirus, the Kingdom suspended all international flight. The ministry of health in Saudi Arabia on Wednesday announced 1,325 new Covid-19 coronavirus cases and 169 recoveries. With this, the total number of cases in the Kingdom now stands at 21,402, while recoveries stand at 2,953, as on Wednesday reported KT.

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News Network
February 14,2020

Feb 14: India will never forget the martyrdom of the security personnel killed in last year's Pulwama attack, Prime Minister Narendra Modi said on Friday.

He termed the slain security personnel were "exceptional individuals" who devoted their lives to serving and protecting the nation.

On February 14 last year, a convoy of vehicles carrying security personnel on the Jammu-Srinagar National Highway was attacked by a vehicle-borne suicide bomber at Lethpora in Pulwama district of Jammu and Kashmir. Forty Central Reserve Police Force (CRPF) personnel were killed in the attack.

"Tributes to the brave martyrs who lost their lives in the gruesome Pulwama Attack last year. They were exceptional individuals who devoted their lives to serving and protecting our nation. India will never forget their martyrdom," tweets PM Modi one year since the Pulwama attack.

"I pay homage to the martyrs of Pulwama Attack. India will forever be grateful of our bravehearts and their families who made supreme sacrifice for the sovereignty and integrity of our motherland," tweets Union Home Minister Amit Shah.

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