Ø The International Monetary Fund’s (IMF) India
Mission Chief has said that among emerging markets and BRICS countries, India
stands out for accomplishing the sharpest turnaround in its macro economy since
the U.S. Federal Reserve started reversing its zero-interest rates monetary
policy. As a result, of all these economies, India is best prepared to deal
with the Fed’s monetary policy actions. Earlier this month, the IMF
raised its 2014 India growth forecast to 5.6 per cent as against its 5.4 per
cent April projection while cutting its world Gross Domestic Product (GDP)
growth projection to 3.3 per cent. If the new government follows through with
structural reforms India can see a growth of 7 per cent to 8 per cent, IMF
India Mission Chief Paul A. Cashin told.
| Vietnam PM Nguyen Tan Dung |
Ø Vietnam’s Prime Minister Nguyen Tan Dung will arrive in
India for a two-day visit, and the bilateral agenda will be seen as another
strong assertion of India’s interests in the South China Sea. China will be
closely watching the visit. India and Vietnam will sign three
agreements, one an MoU on prospecting by OVL (ONGC Videsh Ltd.) in two more
fields in the South China Sea. Discussions will be held on supplying naval
vessels to Vietnam. Both issues had seen statements of concern from Beijing in
the past. However, officials confirmed that the current blocks under discussion
to be signed during this visit, part of a batch of five offered by Vietnam in
November, are in Vietnamese territorial waters, and not disputed. The
agreements, which will include oil exploration, economic and cultural
cooperation, will be signed after meetings between Prime Minister Narendra Modi
and Mr. Nguyen in Delhi. During President Pranab Mukherjee’s visit to
Vietnam last month, India signed a defence agreement extending a $100-million
line of credit to the country. The agreement, which came just ahead of Chinese
President Xi Jinping’s visit to India, sparked off a Foreign Ministry statement
in Beijing that China would not “support any agreement” that dealt with any
“waters administered by China, or is not approved by China.” According
to a source, Mr. Nguyen and his delegation will discuss placing orders for
offshore patrol vehicles at Indian shipyards using the $100-million line of
credit. India has been boosting Vietnamese naval capabilities in the
contentious waters. India and Vietnam will announce new airlinks, with
Jet Airways set to start direct flights connecting Delhi and Mumbai to Ho Chi
Minh City on November 5, while Vietnam Airlines will commence operations
between Hanoi and Delhi in 2015. Mr. Modi and Mr. Nguyen are likely to
announce new target figures for trade and infrastructure investment. India has
won bids for highway management and thermal power plants with the total
investment in Vietnam totalling $1 billion.
Ø Gujarat government is preparing to face Cyclone
Nilofar, which has developed in the
Arabian Sea and is likely to move towards the State’s coast, the Gujarat
Meteorological Department said.
Ø The Labour Ministry has proposed the Small
Factories (Regulation of Employment and Conditions of Services) Bill to
govern wages and conditions of work in small and medium enterprises (SMEs). The
Bill envisages rules for wages, overtime hours, social security and appointment
of factory inspectors in units employing fewer than 40 workers.
Ø SpaceX’s unmanned Dragon spacecraft has splashed down in the Pacific Ocean
carrying a heavy load of NASA cargo and scientific samples from the
International Space Station that experts hope could yield significant results.
Dragon also carried crew supplies, hardware and computer resources. The
experiment results and other materials in the cargo could help develop more
efficient solar cells and semiconductor-based electronics, as well as grow
plants better suited for space and improve sustainable agriculture, according
to NASA.
No comments:
Post a Comment