World's factory and world's back office need to combine: Xi

September 17, 2014

New Delhi, Sep 17: China is ready to contribute to India's development with its rich experience in infrastructure building and manufacturing and Indian IT and pharma companies are welcome to seek business opportunities in the Chinese market, Chinese President XI Jinping has said as he arrives in India on a three-day visit.

Worlds factoryIn an special article titled "Towards an Asian century of prosperity" in the Hindu daily, Xi said that "the combination of the 'world's factory' (China) and the 'world's back office' (India) will produce the most competitive production base and the most attractive consumer market".

He said India under the new government of Prime Minister Narendra Modi is committed to building a strong and modern "Shreshtha Bharat", and India and China need to connect their development strategies closely and jointly pursue their common dream of national strength and prosperity.

Visiting India, "an enchanting and beautiful land that has captured world attention" after 17 years, Xi says that "the 'Story of India' has spread far and wide".

"With the new government coming into office, a new wave of reform and development has been sweeping across India, greatly boosting the confidence of the Indian people and attracting keen international interest in its opportunities."Xi wrote that ties between India and China "have made significant progress in the new century".

"The strategic and cooperative partnership for peace and prosperity has been established. China has become India's largest trading partner, with their bilateral trade volume increasing from less than $3 billion early this century to nearly $70 billion. Mutual visits reached 820,000 last year. We have had close coordination and cooperation on climate change, food security, energy security and other global issues and upheld the common interests of our two countries as well as the developing world as a whole."

On the festering boundary issue, Xi says: "Progress has been made in the negotiations on the boundary question, and the two sides have worked together to maintain peace and tranquillity in the border area. China-India relations have become one of the most dynamic and promising bilateral relations in the 21st century."

"Our bilateral relations have reached where they are today as a result of the following efforts: we have deepened mutual trust by strengthening strategic dialogue and enhancing political confidence; we have brought more benefits to each other by expanding the areas of cooperation and making the pie of common interests bigger; we have forged closer friendship by encouraging more people-to-people exchanges and cementing popular support for our bilateral relations; and we have treated each other with sincerity by respecting and accommodating each other's concerns and properly managing problems and differences."

He says that both countries are now "in a crucial stage of reform and development". The Chinese "are committed to realising the Chinese dream of great national renewal" and deepening reform in all sectors.

"The goal has been set to improve and develop the socialist system with Chinese characteristics and advance the modernisation of national governance system and capability. A total of over 330 major reform measures covering 15 areas have been announced and their implementation is well underway."

He said Modi is keen to provide a clean and efficient administration and improve infrastructure and "The Indian people are endeavouring to achieve their development targets for the new era".

"China and India are both faced with historic opportunities, and our respective dreams of national renewal are very much aligned with each other. We need to connect our development strategies more closely and jointly pursue our common dream of national strength and prosperity."

He said both countries "need to become closer development partners who draw upon each other's strengths and work together for common development".

"As the two engines of the Asian economy, we need to become cooperation partners spearheading growth. I believe that the combination of China's energy plus India's wisdom will release massive potential."

He pushed for his Silk Corridor project, saying India and China "need to jointly develop the BCIM (Bangladesh-China-India-Myanmar) Economic Corridor, discuss the initiatives of the Silk Road Economic Belt and the 21st Century Maritime Silk Road, and lead the sustainable growth of the Asian economy."

"As two important forces in a world that moves towards multipolarity, we need to become global partners having strategic coordination." According to Modi, China and India are "two bodies, one spirit".

"I appreciate this comment. Despite their distinctive features, the 'Chinese Dragon' and the 'Indian Elephant' both cherish peace, equity and justice. We need to work together to carry forward the Five Principles of Peaceful Coexistence (the Panchsheel), make the international order more fair and reasonable, and improve the mechanism and rules of international governance, so as to make them better respond to the trend of the times and meet the common needs of the international community."

Xi said he looks "forward to an in-depth exchange of views with Indian leaders on our bilateral relations during the visit, and to injecting new vitality to our strategic and cooperative partnership for peace and prosperity".

"I am confident that as long as China and India work together, the Asian century of prosperity and renewal will surely arrive at an early date."

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
February 10,2020

New Delhi, Feb 10: The government is set to privatise Central Electronics Ltd, a CPSE under the Department of Science and Technology, by selling its 100% stake with management control and has invited the Expression of Interest for the same by March 16.

The selected bidder will be required to lock in its shares for a period of three years during which it cannot undertake the sale of its stake in CEL, the PIM (Preliminary Information Memorandum) said.

"The government of India has 'in-principle' decided to disinvest 100 per cent of its equity shareholding in CEL (which is equivalent to 100 per cent of the total paid up equity share capital of CEL) through Strategic Disinvestment with transfer of management control (Strategic Disinvestment or Transaction)," DIPAM, the Disinvestment Department, said.

The process for the transaction has been divided into two stages, namely, Stage I and Stage II.

After BPCL and Air India, this is yet another CPSE which government is slated to privatise if it gets offers from bidders.

The government has set a challenging target of Rs 2.1 lakh crore disinvestment proceeds from CPSE sell-offs and IPOs, OFSs (Offer for sale) in the next fiscal and it going out all guns blazing to meet that target after revising this fiscal target of Rs 1.05 lakh crore to Rs 65,000 crore.

The Interested Bidders (which can also include employees of CEL) must have a minimum net worth of Rs 50 crore as on March 2019. DIPAM has released complete invitation Preliminary Information Memorandum (PIM) of CEL. Resurgent India Limited is the advisor to the Transaction.

CEL is a pioneer in the country in the field of Solar Photovoltaic (SPV) with the distinction of having developed India's first Solar cell in 1977 and first Solar panel in 1978 as well as commissioning India's first solar plant in 1992.

More recently, it has developed and manufactured the first crystalline flexible solar panel especially for use on the passenger train roofs in 2015.

Its solar products have been qualified to International Standards IEC 61215/61730. CEL is further working on development of a range of new and upgraded products for signaling and telecommunication in the railway sector.

In the SWOT analysis of the CPSE, DIPAM has stated under weakness that "the company has weak financial loss due to past losses, high manufacturing cost and non payment of dues by state nodal agencies affecting the financial position of the company".

The CPSE has adequate land for expansion, the SWOT analysis said adding "the CPSE faces threat of dumping of solar cells at very low rates which makes solar PV manufacturing industry unviable".

Entry of new players in the market for solar products and railway signalling systems also is cited as a threat.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
January 24,2020

New Delhi, Jan 24: The Election Commission of India on Friday told the Supreme Court that its 2018 direction asking poll candidates to declare their criminal antecedents in electronic and print media has not helped curb criminalisation of politics. The poll panel suggested that instead of asking candidates to declare criminal antecedents in the media, political parties should be asked not to give tickets to candidates with criminal background.

A bench of Justices R F Nariman and S Ravindra Bhat asked the ECI to come up with a framework within one week which can help curb criminalisation of politics in nation's interest.

The top court asked the petitioner BJP leader and advocate Ashiwini Upadhyay and the poll panel to sit together and come up with suggestions which would help him in curbing criminalisation of politics.

In September 2018, a five-judge Constitution bench had unanimously held that all candidates will have to declare their criminal antecedents to the Election Commission before contesting polls and had called for a wider publicity, through print and electronic media about antecedents of candidates.

Comments

Satya Vishwasi
 - 
Saturday, 25 Jan 2020

What about those criminals who were already in parliament and vidahan sabhas? shall the ECI cancel their positions?

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
June 20,2020

Jun 20: Congress leader Rahul Gandhi on Saturday attacked Prime Minister Narendra Modi over his remark that neither is anyone inside India's territory nor has any of its posts been captured, alleging that the PM has "surrendered" Indian territory to Chinese aggression.

In a statement on the all-party meeting called by Modi on Friday to discuss the situation at the India-China border, the government said, "At the outset, prime minister clarified that neither is anyone inside our territory nor is any of our post captured."

Tagging PM's remarks with his tweet, Gandhi said, "PM has surrendered Indian territory to Chinese aggression."

"If the land was Chinese: 1. Why were our soldiers killed? 2. Where were they killed?" Gandhi said.

The categorical statement by the prime minister came in the wake of reports that Chinese military has transgressed into the Indian side of the Line of Actual Control, the de-facto border, in several areas of eastern Ladakh including Pangong Tso and Galwan Valley.

Soon after Gandhi's tweet, Union Home Minister Amit Shah posted video of father of a soldier, who was injured in Galwan face-off, and hit out at the Congress leader, accusing him of indulging in "petty politics".

"A brave armyman’s father speaks and he has a very clear message for Mr. Rahul Gandhi. At a time when the entire nation is united, Mr. Rahul Gandhi should also rise above petty politics and stand in solidarity with national interest," Shah wrote.

The prime minister's assertion came even as Congress president Sonia Gandhi, at the all-party meet, questioned the government's handling of the situation, asking if there was any intelligence failure, and seeking assurance that China will "revert" to its original position.

Rahul Gandhi on Friday accused senior ministers in the government of "lying" to protect the prime minister and that the Centre was "fast asleep" while martyred jawans paid the price in Ladakh.

The former Congress chief also tagged a one-minute video of a jawan's father saying the Indian soldiers were unarmed when they were attacked by Chinese troops.

He has been questioning the government on the LAC standoff and asking how the Chinese occupied Indian territory and why Indian soldiers were sent "unarmed to martyrdom" in Ladakh.

Twenty Indian Army personnel, including a colonel, were killed in a clash with Chinese troops in the Galwan Valley in eastern Ladakh on Monday night, the biggest military confrontation in over five decades that has significantly escalated the already volatile border standoff in the region.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.