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
May 11,2020

New Delhi, May 11: Prime Minister Narendra Modi on Monday chaired a fresh round of consultation with chief ministers on ways to strengthen the COVID-19 containment strategy and stepping up of economic activities in a calibrated manner as the 54-day nationwide lockdown nears an end.

Large-scale movement of migrant workers from urban to rural India and the problems their return to home states may cause in restarting the economy will also be among the focus areas during the fifth virtual interaction between the prime minister and chief ministers since the outbreak of the deadly virus in the country.

There will be an effort to ensure that all participating chief ministers get an opportunity to air their views during the interaction, as some of the CMs had complaint that they were not allowed to put forth their views during the last interaction on April 27.

At a meeting on Sunday with Cabinet Secretary Rajiv Gauba, state chief secretaries told him that "while protection is required from COVID-19, economic activities also need to be stepped up in a calibrated manner", according to an official statement.       

With thousands of migrant workers taking special trains to go back to their home states, the restarting of industrial activities will prove to be a challenge for states though several relaxations have been made in labour laws to increase factory output.    

The meet is also likely to discuss efforts to convert 'red' zones with high COVID-19 case load into 'orange' or 'green' zones.       The prime minister interacted with the chief ministers last on April 27. Days after the meeting, the central government had extended the lockdown by two more weeks till May 17 to arrest the spread of the virus, but gave several relaxations in economic activities and movement of people.

The nationwide lockdown has been in force since March 25 to contain the spread of the virus, which has killed more than 2200 people, and afflicted more than 67,000 in the country.

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News Network
February 5,2020

New Delhi, Feb 5: Taking on Delhi Chief Minister Arvind Kejriwal after Shaheen Bagh shooter Kapil Baisala was identified as an AAP worker by police, BJP chief J P Nadda on Tuesday said it exposed the party and Kejriwal who were playing with the country's security.

The Aam Aadmi Party hit back, questioning the police investigation.

In a series of tweets, Nadda said people of the country and Delhi today have seen the "dirty face" of AAP.

"For political longing, Kejriwal and his people even sold the security of the country. Earlier, Kejriwal used to insult the Army and advocate terrorists, but today relations with those who carry out their terrorist activities came to light," he said.

Nadda said he wanted to make it clear to Kejriwal that this country is bigger than any election, any government, and "this nation will not forgive those who play with its security. Kejriwal and his entire team have been exposed. The people of Delhi will give a befitting reply".

He claimed the entire country has seen "photos of Imam Hussain, the MLA and former minister of the Delhi government, with a radical terrorist organisation, PFI".

Days before Delhi goes to polls, police claimed that Baisala is a member of the Aam Aadmi Party. They said Baisala joined the party in early 2019 along with his father.

Police said it had photos of Baisala purportedly joining AAP along with his father Gaje Singh last year.

AAP's Rajya Sabha MP Sanjay Singh alleged that photos which were part of investigation were leaked to the BJP. He also said the party will approach the Election Commission to raise this issue, which has cropped up four days before the polling date.

"On whose instance, the police is giving statement? How did the photos which were part of the investigation reach the BJP? Before the news came out, Manoj Tiwari in the morning stated that the accused was from AAP. How did Manoj Tiwari get this news," Singh questioned in a press conference.

Union minister and BJP's in-charge for the Delhi polls, Prakash Javadekar, in a press conference alleged that "their (AAP's) designs are very clear from the beginning and they are trying every trick".

The whole conspiracy of AAP is to "divide society, cause fear in a community and create a vote bank," he charged.

Javadekar also claimed that photos of Baisala were recovered by police from his mobile phone although they were erased.

He also claimed that Baisala and his father were welcomed by Sanjay Singh at their joining of AAP.

"This proves AAP misleads youth and pushes them on the wrong path. AAP's strategy is to divide two communities, they want to instigate riots in Delhi," Javadekar alleged.

He further alleged that AAP leader Sanjay Singh had said violence would take place in Delhi. Their "conspiracy has been exposed by Delhi Police," he claimed.

"We condemn this politics of AAP," he said.

Javadekar also claimed this was "not an isolated incident" as AAP member Amanatullah Khan made a "very provocative speech" and the party supported Shaheen Bagh and did not give permission for the prosecution of members of the "tukde-tukde gang".

He hinted the BJP could approach the Election Commission against AAP over the issue.

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Agencies
February 6,2020

Mumbai, Feb 6: The Reserve Bank of India, for the second straight time, on Thursday kept its key policy rate unchanged at 5.15 per cent, maintaining its accommodative policy stance as long as it was necessary to revive growth.

The central bank retained GDP growth at 5 per cent for 2019-20 and pegged it at 6 per cent for the next fiscal.

"Economic activity remains subdued and the few indicators that have moved up recently are yet to gain traction in a more broad-based manner. Given the evolving growth-inflation dynamics, the MPC felt it appropriate to maintain status quo,” the Monetary Policy Committee (MPC) said.

The six-member committee voted unanimously to hold rates, but also said that there is “policy space available for further action”.

Between February and October 2019, the RBI had reduced repo rate by 135 basis points.

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