Daily Archive: June 22, 2018
The Prime Minister, Shri Narendra Modi, today laid the foundation stone for Vanijya Bhawan, a new office complex for the Union Government’s Department of Commerce, at New Delhi.
The Prime Minister expressed confidence that the building will be completed well within the stipulated time. He emphasized that this would be in keeping with the spirit of New India, and moving away from old practices, under which important building projects, even in the Capital, had been inordinately delayed. In this context, he mentioned the Dr. Ambedkar International Centre, the Dr. Ambedkar National Memorial, the Pravasi Bharatiya Kendra and the new office building for the Central Information Commission.
He said that this is also the result of breaking silos within the working of the Government. He hoped that the new office building – Vanijya Bhawan – would further facilitate elimination of silos in India’s commerce sector. Speaking about the country’s demographic dividend, the Prime Minister said that it is our collective responsibility to fulfil the aspirations of our youth.
Talking of adoption of digital technology, the Prime Minister remarked that the land on which the new building is being constructed, was earlier occupied by the Directorate General of Supplies and Disposal. This has now been replaced by the Government e-Marketplace (GeM), which has seen transactions worth Rs. 8700 crore in a short time, he added. He urged the Department of Commerce to work towards further expansion of GeM, and leverage it for the benefit of the country’s MSME sector. He also spoke of the benefits of GST, and said the Union Government is making constant efforts to create a people-friendly, development-friendly and investment-friendly environment.
The Prime Minister mentioned various macro-economic parameters, and other indicators to explain how the India is now playing an important role in the global economy. He said India is now among the top five fin-tech countries, globally. He said subjects such as “Ease of Trading,” and “Ease of Doing Business,” are all related to “Ease of Living” in an interconnected world.
The Prime Minister emphasized the need for an increase in exports, and said that States must be made active partners in this effort. He said the Department of Commerce must resolve to raise India’s share in total global exports to at least 3.4 percent, from the current 1.6 percent. Similarly he said, efforts must be made to raise domestic manufacturing output, to reduce imports. In this context, he gave the example of electronics manufacturing. He said the Union Government has taken a number of steps to boost domestic manufacturing.
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The Department of Economic Affairs, Ministry of Finance, Government of India and the Asian Infrastructure Investment Bank (AIIB) will jointly host the third Annual Meeting of the Asian Infrastructure Investment Bank (AIIB) on June 25-26, 2018 at Hotel Trident/Oberoi and NCPA, Mumbai, India.
The theme for this year’s meeting is *“Mobilizing Finance for Infrastructure: Innovation and Collaboration”* that will see leaders from varied organizations and levels of government to share ideas and experiences for creating a sustainable future through sound infrastructure investment.
This year will also see the launch of the inaugural Asian Infrastructure Forum, which will gather infrastructure practitioners in a practical and project-driven discourse, focused on matching innovative finance to critical infrastructure needs.
The two-day meeting will witness the presence of top policy makers, Ministers from AIIB members, participants from partner institutions, the private sector and civil society organizations. Moreover, leading experts from a range of fields will be present to lead discussions and share insights on addressing Asia’s infrastructure gap in an environmentally and socially friendly way.
Apart from several high-ranking government officials gracing the occasion, Hon’ble Prime Minister of India, Shri. Narendra Modi will inaugurate the third Annual Meeting of AIIB on June 26, 2018. Furthermore, Mr. Piyush Goyal, Hon’ble Finance Minister, and Mr. Subhash Chandra Garg, Secretary, Department of Economic Affairs, Ministry of Finance will also be present during the course of the meeting, to discuss the environmental landscape of investing in infrastructure plans in India and also share an overview about the third Annual Meeting.
Industries Department, Government of Maharastra is the nodal Department, Maharashtra Industrial Development Corporation (MIDC), Government of Maharashtra is the nodal agency, Confedartion of Indian Industry (CII) is the Professional Conference Organiser (PCO), Research and Information Systems for Developing Countries (RIS) is the knowledge partner, for the third Annual Meeting of AIIB.
In the run up to the Annual Meeting 2018, the Government of India has organised a number of lead up events in different cities in India from February to June 2018, aimed to stimulate debates on several important themes of infrastructure.
During the Annual Meeting, there will be several seminars that focus on topics including mobilizing finance for infrastructure, gender and infrastructure and connectivity within and beyond Asia. There will also be Host Country Seminars on topics including the sources and instruments of financing and new technology choices and alternatives, and a panel discussion with Chief Ministers on the vision of infrastructure development in India.
The Department of Economic Affairs, Ministry of Finance, Government of India, in partnership with the Federation of Indian Chambers of Commerce & Industry (FICCI), is also organising an exhibition “India Infrastructure Expo 2018. The objective of the exhibition is to offer companies from the public and private sector to showcase their latest solutions, technologies and offerings in the realm of infrastructure project development and delivery.
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