PRESIDENT OF INDIA ATTENDS CIVIC RECEPTION AT RANCHI

 The President of India, Smt Droupadi Murmu attended a civic reception hosted in her honour by the Government of Jharkhand at Raj Bhavan, Ranchi this evening (May 25, 2023).

Speaking on the occasion, the President said that the existence of the state of Jharkhand may not be very old, but since ancient times, this region has had a distinct identity. The example presented by the people of Jharkhand in respecting water, forests, and land and adopting a natural lifestyle has become more important in this time of environmental crises. Noting that about 30 percent of the area of this state is covered by forests, she said that moving forward on the path of development, while protecting and enhancing the precious forest wealth is the right way to achieve sustainable progress.

The President said that giving priority to the group over the individual is a fundamental feature of the society of Jharkhand. She urged all to keep this spirit of cooperation and collectivity alive and strengthen it.

The President said that Jharkhand is full of attractive natural beauty and has immense potential for development in the field of eco-tourism. She expressed confidence that proper development of this sector would provide many opportunities for employment and entrepreneurship to the youth of the state.

The President said that the land of Jharkhand is called Ratna-Garbha because of the priceless minerals present here. It is one of the richest states in the country in terms of mineral wealth. But the most valuable gems of Jharkhand are the hardworking, loving, and simple people of the state.

The President said that many modern industries, especially those based on mineral materials, were established in Jharkhand. These industries paved the way for modern development. In recent years, efforts have been made to develop Jharkhand's infrastructure on a large scale. She stressed that the benefits of modern development should reach all sections of society, especially the marginalised. She conveyed her best wishes to Jharkhand to make its place among the leading states of the country in terms of development in the near future.

Click here to see full speech

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India-Australia Migration and Mobility Partnership Arrangement (MMPA)

 Prime Minister Shri Narendra Modi held a bilateral meeting with H.E. Mr. Anthony Albanese, Prime Minister of Australia on 24 May 2023 at Admiralty House in Sydney, Australia. 

Prime Minister was accorded a Ceremonial Welcome and Guard of Honour on arrival at Admiralty House. 

Both leaders recalled their productive 1st Annual Leaders’ Summit held in March 2023 in New Delhi and reaffirmed their commitment to further broadening and deepening of the multifaceted India-Australia Comprehensive Strategic Partnership. 

The discussions focused on cooperation in defense and security, trade and investment, new and renewable energy, green hydrogen, critical minerals, education, migration and mobility and people to people ties.

Both leaders welcomed the signing of the India-Australia Migration and Mobility Partnership Arrangement (MMPA), which will further facilitate mobility of students, professionals, researchers, academics and others, including through a new skilled pathway named MATES (Mobility Arrangement for Talented Early Professionals Scheme) specifically created for India. 

They also welcomed the finalization of Terms of Reference of the India-Australia Hydrogen Task Force, which will advise on opportunities to accelerate manufacture and deployment of clean hydrogen, focusing on hydrogen electrolysers, fuel cells as well as supporting infrastructure and standards and regulations.

Prime Minister Modi thanked Australia for its support in establishing a Consulate General of India in Brisbane. 

The two leaders reiterated their determination to ensure a peaceful, prosperous and inclusive Indo-Pacific region, underpinned by a rules-based international order. They also discussed reform of UN Security Council.

Prime Minister Albanese expressed Australia’s strong support to India's G20 Presidency and initiatives. Prime Minister looked forward to welcoming Prime Minister Albanese for the G20 Summit in New Delhi in September 2023.

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Demographic dividend with its technological and managerial talent

 Union Minister of Commerce and Industry, Consumer Affairs, Food and Public Distribution and Textiles, Shri Piyush Goyal said that India has emerged from the shadows of the past and is being looked upon as the bright spot by the world. During his address at the CII Annual Session 2023, “Future Frontiers: Competitiveness, Technology, Sustainability and Internationalization” in New Delhi today, the Minister said that with adequate focus on innovation, quality and talent of the people, sky's the limit for growth of India. Shri Piyush Goyal said that it is incumbent to educate and enlighten the population as the demographic dividend with its technological and managerial talent is a treasure for the country.

The Minister said that Prime Minister Shri Narendra Modi is hailed as the leader of the global South and India is emerging as the global leader of the developing countries. He highlighted that many countries across the globe are keen on fast-tracking the FTAs with India now. Shri Goyal said that India is now not just talking but negotiating with Canada, EFTA, UK, EU over FTAs and this shows the increased importance of India in the global order. He said that this is a new India which engages with the world from a position of strength believing in its capabilities and calibre.

Shri Piyush Goyal said that over the last 9 years a successful journey has been undertaken by the Government, Regulators and the people to bring back the economy on track. He said that 9 years ago, there were many challenges stalling the economic development of India and at that time India was amongst the fragile 5 countries in the world, but the 9 years of government under the leadership of Prime Minister Shri Narendra Modi has led to transformation beyond imagination.

Shri Goyal said that people expected the Government to be populist but the Government under Prime Minister Shri Narendra Modi chose to take hard decisions to bring the economy back on track and up the morale of the public by bringing in structural fundamental macroeconomic reforms that promised long lasting benefits for the country. The Minister said that today India is the fastest growing economy of the world with low inflation and strong foreign exchange reserves. He said that the last 9 years have been unprecedented as inflation has been consistently under control in the range of 4-4.5% except for a short period last year. Shri Piyush Goyal said that interest rates in other developed countries are almost at par with India now.

Shri Piyush Goyal stressed upon expanding international outreach, bringing innovation and technology from across the world to grab the opportunities available for growth. He encouraged businesses to invest and engage with world markets through quality products and using Indian missions abroad. The Minister highlighted that India’s G20 Presidency is an opportunity for the businesses to expand markets with open mind and engage with the world with confidence.

Shri Goyal said that the target of achieving US$ 1 Trillion export of goods and US$ 1 Trillion of services is a modest target now. He said that the overall exports had been at US$ 500 Billion for almost a decade and reached US$ 676 Billion last year despite the difficulties being faced across the world. The Minister said that the overall exports of US$ 776 Billion in FY 2022-23 with US$ 450 Billion of merchandise exports and US$ 326 Billion of services exports is a laudable achievement for the country.

Shri Goyal said that the increased export basket will help India increase surpluses and reduce deficits. He said that now is the opportunity for businesses and industry to establish leadership in global trade. The Minister said that businesses should look for reliable partners in the supply chain, focus on comparative advantage, acquire technology and work in the spirit of collaboration.

Shri Piyush Goyal termed the Confederation of Indian Industry (CII) as the captain of India Inc. The Minister congratulated President-Designate, CII, Shri R. Dinesh on taking over as the CII President for 2023-24. He also praised the leadership of the President, CII, Shri Sanjiv Bajaj and appreciated the role played by him in leading CII during the challenging times of uncertainty across the world.

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Aadhaar authentication clocks 1.96 billion transactions in April, 19% more than same month last fiscal

 Aadhaar holders executed 1.96 billion authentication transactions in April 2023, a jump of more than 19.3 per cent over April 2022, indicating the growth of digital economy and usage of Aadhaar in India.

A majority of these authentication transaction numbers were carried out by using fingerprint. It is followed by demographic and OTP based authentications. Face authentication too is witnessing a good usage across sectors for easy service delivery.

While Aadhaar saturation among adult population continues to be near universal, the saturation level among all age groups has now climbed to 94.8 per cent, indicative of the reach and adoption of Aadhaar among residents. During the month of April more than 15.44 million Aadhaars were updated on request from the residents.

The Aadhaar Enabled Payment System (AePS) is enabling financial inclusion for those at the bottom of the income pyramid.  In April 2023, more than 200.6 million last mile banking transactions were made possible through AePS and the network of micro ATMs.

Aadhaar e-KYC service continues to play a key role in the banking and non-banking financial services sectors by providing transparent and improved customer experience, and helping in ease of doing business. More than 250.5 million eKYC transactions were carried out in April alone. 

By the end April 2023, the cumulative number of Aadhaar e-KYC transactions has gone past 14.95 billion. Continued adoption of e-KYC is significantly reducing  customer acquisition cost of entities like financial institutions, telecom service providers among others.

Whether it is e-KYC for identity verification, AePS for last mile banking, authentications or  Aadhaar enabled DBT for direct fund transfer, Aadhaar, the foundation of India’s digital public  infrastructure and a tool of good governance, is playing an important role in supporting Prime Minister Shri Narendra Modi’s vision of improving the Ease of Living for residents.

 

SEA PHASE OF ASEAN-INDIA MARITIME EXERCISE – 2023

 The inaugural ASEAN India Maritime Exercise (AIME-2023) successfully culminated in the South China Sea on 08 May 2023. Approximately 1400 personnel manning nine ships participated in the Sea Phase of the multilateral naval exercise. India’s indigenously designed and built ships- destroyer INS Delhi & stealth frigate INS Satpura, maritime patrol aircraft P8I and integral helicopters exercised with ASEAN naval ships from Brunei, Indonesia, Malaysia, Philippines, Singapore, Thailand and Vietnam.

The two-day sea-phase witnessed a wide spectrum of evolutions at sea including tactical manoeuvres, cross deck landings by helicopters, seamanship evolutions and other maritime operations. Apart from honing skills in the maritime domain the exercise enhanced interoperability and demonstrated the ability of Indian & ASEAN navies to operate as an integrated force to promote peace, stability and security in the region.

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VM/PS

Shipment to operationalise the Sittwe Port in Rakhine State of Myanmar

 At a ceremony held today Minister of State for Ports, Shipping and Waterways, Shri Shantanu Thakur flagged off MV-ITT LION (V-273) from Syama Prasad Mookerjee Port, Kolkata as the inaugural shipment to operationalise the Sittwe Port in Rakhine State of Myanmar.

The Port has been built under a grant assistance from the Government of India as part of Kaladan Multimodal Transit Transport Project (KMTTP). The Inland Waterways Authority of India (IWAI), as a project Development Consultant for the implementation of Port and IWT components of the work, has successfully completed the work.

MV-ITT LION (V-273) carrying 20,000 bags containing 1,000 metric tonnes of cement will reach Sittwe Port on May 9, 2023.

Speaking on the occasion Shri Shantanu Thakur said, ‘The Kaladan Project is a live example of the co-operation and commitments between India and Myanmar. The start of operation of Sittwe port will pave a new avenue for Sittwe to become a maritime hub for Myanmar and enhance the regional connectivity; This strategic and important route will further enhance trade, commerce and economic ties with Myanmar, our North-Eastern States and South Asian Countries.'

Sittwe Port has been developed under a framework agreement between India and Myanmar for the construction and operation of a Multimodal Transit Transport Facility on Kaladan river connecting the Sittwe port in Myanmar with the state of Mizoram in India. The port connects to Paletwa in Myanmar through an inland waterway and from Paletwa to Zorinpui in Mizoram through a road component. Once fully operationalised, KMTTP will provide alternate connectivity from Eastern coast of India to the North-eastern states through the Sittwe port.

The Port will open up new opportunities for trade and transit from and to Myanmar, particularly the Rakhine State and further enhance trade and commerce between the two countries and the wider region.

During the flagging off ceremony, Shri Tin Moe Consul General, Consulate General of the Republic of the Union of Myanmar in Kolkata, Shri. Sanjay Bandhopadhayay, Chairman, Inland Waterways Authority of India, Shri PL Haranadh, Chairman Syama Prasad Mookerjee Port, Kolkata, Ms. Smita Pant, Joint Secretary (BM) Ministry of External Affairs, Shri Satish Sivan Joint Secretary (DPA-III) Ministry of External Affairs, Shri. Samrat Rahi Dy. Chairman (K), Syama Prasad Mookerjee Port, Kolkata, Shri. AK Mishra Dy. Chairman(H), Syama Prasad Mookerjee Port, Kolkata and other dignitaries were also present.

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BIZAMP – Amplifying Business of NORTH EAST REGION

 Secretary, Ministry of MSME Shri B.B Swain presided over BizAmp, an outreach programme organized by the Ministry of MSME in association with  NSIC Venture Capital Fund Limited (NVCFL) under its Self Reliant India (SRI) Fund at Dimapur Nagaland on 4th May 2023. The programme , aimed at empowering MSMEs from the North Eastern States and amplifying their businesses utilizing benefits under SRI Fund, saw participation from MSMEs across the north east region, daughter funds and other state dignitaries.

 

The programme had dedicated sessions for the participants that included awareness sessions from SBI Capital Ventures, NEDFi etc. The programme also provided a platform to beneficiary MSMEs to present their stories and inspire the aspiring MSMEs present at the event. The event showcased concerted efforts of State and Central government with the presence of Industry Secretaries from various north eastern states who provided insights about various policies designed for MSMEs to assist them in their growth.  Speaking at the occasion Shri BB Swain, Secretary M/o MSME congratulated all the officials of the Ministry and NVCFL and said “The joint efforts of the state and the central government to boost the MSME sector in the NE will bring out new avenues of growth, promote startups and existing enterprises, and will take the MSME cluster of the state to new heights” He also urged the participants present to take the maximum advantage of the SRI Fund and interact with as many daughter funds as possible.

The Government of India, launched SRI Fund with an outlay corpus of Rs 10,006 crore, concentrated towards financing an infusion of capital to MSMEs through Daughter Funds. The SRI fund which is being managed by NVCFL, is an Alternative Investment Fund (AIF) providing growth capital to MSMEs through equity/quasi-equity/equity-like structured instruments.  As on 31st March 2023, the fund has made a capital commitment of Rs. 5,120 crore to 42 empaneled daughter funds.

BizAmp, the first outreach programme in the North East Region of the country focused upon maximizing capital benefits through NVCFL’s SRI Fund. It served to provide a platform for the empaneled daughter funds of SRI Fund to reach the MSMEs in the NE Region of India.

Given the impact of MSMEs on our economy, it is imperative that focused efforts are given to promote entrepreneurship amongst the youth and create a conducive ecosystem where they play an integral role in development of Indian economy to realize the 5 trillion USD economy.

Nurturing the MSME sector is important for the economic well-being of the nation. M/o MSME is consistently working to empower MSMEs for sustainable growth and to become compatible in the global value chain. This will help the MSMEs in the NER to interact with the Venture Capital Funds (daughter funds) and reap the benefit through capital infusion for scaling up their business.

Chairperson, NVCFL & Joint Secretary of Ministry of MSME along with other dignitaries including Secretary – North East Council, CMD – NEDFi (North Eastern Development Finance Corporation), CGM – SBI (NER), MD & CEO , SBI Capital Fund, Director & CEO of NVCFL were also present on the occasion.

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Exchange rate notification No. 33/2023 - Customs (N.T.)

 In exercise of the powers conferred by section 14 of the Customs Act, 1962 (52 of 1962), and in supersession of the Notification No. 29/2023-Customs(N.T.), dated 20th April, 2023 except as respects things done or omitted to be done before such supersession, the Central Board of Indirect Taxes and Customs hereby determines that the rate of exchange of conversion of each of the foreign currencies specified in column (2) of each of Schedule I and Schedule II annexed hereto, into Indian currency or vice versa, shall, with effect from 05th May, 2023, be the rate mentioned against it in the corresponding entry in column (3) thereof, for the purpose of the said section, relating to imported and export goods.

SCHEDULE-I

Sl. No.	Foreign Currency	Rate of exchange of one unit of foreign currency equivalent to Indian rupees
	(2)	(3)
		(a)	(b)
		(For Imported Goods)	(For Export Goods)
1.	Australian Dollar	55.90	53.50
2.	Bahraini Dinar	223.55	210.20
3.	Canadian Dollar	61.15	59.10
4.	Chinese Yuan	12.00	11.70
5.	Danish Kroner	12.35	11.95
6.	EURO	92.20	89.00
7.	Hong Kong Dollar	10.60	10.25
8.	Kuwaiti Dinar	275.55	259.05
9.	New Zealand Dollar	52.40	50.05
10.	Norwegian Kroner	7.75	7.50
11.	Pound Sterling	104.55	101.15
12.	Qatari Riyal	23.15	21.60
13.	Saudi Arabian Riyal	22.50	21.10
14.	Singapore Dollar	62.60	60.55
15.	South African Rand	4.65	4.35
16.	Swedish Kroner	8.10	7.85
17.	Swiss Franc	94.40	90.80
18.	Turkish Lira	4.30	4.05
19.	UAE Dirham	22.95	21.60
20.	US Dollar	82.60	80.85

 

SCHEDULE-II

 

Sl. No.	Foreign Currency	Rate of exchange of 100 units of foreign currency equivalent to Indian rupees
	(2)	(3)
		(a)	(b)
		(For Imported Goods)	(For Export Goods)
1.	Japanese Yen	61.75	59.75
2.	Korean Won	6.4	6

 

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