Economic Newsletter : January 2018 Our Publications

Economic Newsletter : January 2018

Economic

Government of India Decisions
High Impact News
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PM Modi In Davos for World Economic Forum
Prime Minister Narendra Modi made his debut at the World Economic Forum summit held in Davos this year. In his keynote address at the opening session PM Modi showcased ease of doing business in India. He remarked, “We are removing red tape and laying the red carpet,”
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69 th  Republic Day of India celebrations in Sri Lanka
The High Commission of India and the Indian expatriate community in Sri Lanka celebrated the 69th Republic Day of India on Friday, January 26, 2018 at India House in Colombo.
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Make in India led to a record $60bn FDI inflow in FY’17
The ambitious ‘Make-in India’ initiative by the Government has led to a record inflow of foreign direct investment (FDI) of $60 billion in the financial year 2016-17, the Commerce Ministry said on Wednesday.
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India & Sri Lanka expand IT Cooperation
Sri Lanka and India signed an MoU for cooperation in IT and Electronics to enhance Digital Literacy and e-governance during the visit of India's Minister of Law & Justice and Electronics & Information Technology Ravi Shankar Prasad to Sri Lanka.
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India marks 69th Republic Day with ASEAN leaders in attendance
India celebrated its 69th Republic Day with the attendance of all 10 ASEAN leaders as Chief Guests at the Republic Day Parade. PM Modi hosted all 10 ASEAN leaders at a commemorative summit with the theme ‘Shared Values, Common Destiny’.
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India extends financial assistance of LKR 6.9bn to upgrade KKS harbour
India will provide a financial assistance of USD 45.27mn to Sri Lanka for upgrading the Kankesanthurai (KKS) harbor. An agreement to this effect was signed in New Delhi by Mr. David Rasquinha, Managing Director, Export-Import Bank of India and Dr. R.H.S Samaratunga, Secretary to Treasury of Sri Lanka. Senior officials from the governments of India and Sri Lanka were also present.
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India takes Steps to fix Bank System with $12.6bn Bond Plan
The government is seeking parliamentary approval to issue bonds worth USD 12.6 billion to fund capital injections into state lenders. A total 1.35 trillion rupees of recapitalization bonds are expected to be raised under the plan, with the rest of the capital injections funded from the budget and from financial markets.
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Expansion of Emergency Ambulance Service island-wide in Sri Lanka under Indian grant of $ 15mn
The 1990 Emergency Ambulance Service, first launched in July 2016 in two provinces under an Indian grant of around USD 7.56 mn, will be expanded island wide with a further grant from India. Sri Lanka will receive 209 more ambulances under the second stage of the venture along with USD 15 million.
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Space 2018-India’s ambitious Chandrayaan 2 Mission to the Moon
2018 is looking to be an exciting year for international space exploration. In addition to NASA and commercial projects, the Indian Space Research Organisation (ISRO) is set to launch its Chandrayaan 2 lunar mission in March.
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Sri Lanka sign Framework Agreement on International Solar Alliance
The High Commissioner for Sri Lanka in India, Chitranganee Wagiswara signed the Framework Agreement of the International Solar Alliance (ISA) in New Delhi on January 31. After the Agreement is ratified, Sri Lanka will become a founding member of the International Solar Alliance.
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