The Indian Weekender, 15 April 2022

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14 INDIA Friday, April 15, 2022 The Indian Weekender After UAE and Australia, EU eyes trade deal with India India’s successful free-trade also met executive vice president agreements with the United Arab Valdis Dombrovskis and EU director Emirates and Australia in the last general for trade Sabine Weyand. two months have encouraged the The second person said it’s country and the European Union to possible that the India-UK FTA plan three rounds of talks, all within may happen before the EU deal as this year to conceptualise a basic Both FTAs – the both New Delhi and London may frameworks under which the partners UAE and not insist on a two-stage trade deal; will negotiate a comprehensive deal Australia – have been this is because the UK is keen to conclude a full free trade agreement to raise bilateral trade to over $220 concluded by (FTA) without resorting to an interim billion in five years, two people respecting mutual deal, this person explained. aware of the development said. sensitivities in an The current value of bilateral The development is significant environment of trust. India-UK trade is $ 50 billion (both because India-EU trade negotiations Successful FTA with goods and services). have been halted since 2013 over the discussions that developed country in an environment Negotiations on the FTA are set movement of Indian professionals may conclude [Australia] has of trust. Successful to start before the end of the year and high Indian tariffs on European within this year,” energised both the FTA with developed and the British side has indicated farm produce. The UK, too is keen to this person added. expedite bilateral trade negotiations EU and the UK, country [Australia] that it prefers that the talks lead to a Commerce with India and separate formal especially when has energised both comprehensive pact, he said. Since ministry officials the EU and the UK, discussions with it could also happen India has emerged as its exit from the European Union, the did not respond especially when UK has concluded trade deals with with the year, in addition to the talks a reliable partner and to an email query. India has emerged as 69 countries and one with the EU. with the EU, the people added, asking a significant factor in On April 2, a reliable partner and However, deals with 63 countries not to be named. After its exit from after signing the global supply chain a significant factor in are “rollover” arrangements similar the EU, the UK is keen to conclude a India-Australia global supply chain,” to those it had when it was an EU trade agreement, they said . Economic Cooperation and Trade the second person said. member. The EU recently expressed its Agreement (ECTA), commerce The India-EU FTA is expected “The conceptualisation [with EU] intent to a team of Indian government minister Piyush Goyal said New to double bilateral trade between is a great step forward which will officials led by commerce secretary Delhi is working on FTAs with the the two partners from the existing make it easier to start negotiations for B.V.R Subrahmanyam, one of the UK, Canada, Israel, Gulf Cooperation $110 billion, the first person said. a comprehensive trade deal within people said. “The EU has agreed to Council, and the EU. Subrahmanyam, who recently this framework,” said Federation start formal negotiations soon after it “Both FTAs – the UAE and visited Europe, met key officials of Indian Export Organisations will conceptualise a basic framework Australia – have been concluded of both the EU and the UK. During (FIEO) director general & CEO to proceed on this matter with New by respecting mutual sensitivities his visit to Brussels last week, he Ajay Sahai said. Delhi. It may take three rounds of India desires peace and stability in a region free of terror: Modi to Shehbaz Sharif Pr i m e Minister Narendra Modi congratulated Shehbaz Sharif on his election as the 23rd Prime Minister of Pakistan. Shehbaz Sharif Modi said that India desires peace and stability in a region free of terror so that both countries can focus on its development challenges. "Congratulations to H.E. Mian Muhammad Shehbaz Sharif on his election as the Prime Minister of Pakistan. India desires peace and stability in a region free of terror, so that we can focus on our development challenges and ensure the well-being and prosperity of our people," Modi tweeted. Earlier, PML-N President Shehbaz Sharif was elected as the 23rd Prime Minister of Pakistan with 174 lawmakers voting in his favour after the MNAs of Pakistan Tehreek-e- Insaf boycotted the election. AICTE urges institutions to consider admitting Indian students returned from Ukraine The All India Council for Technical Education (AICTE) has asked technical institutions across the country to consider admitting students who have to leave their studies in the middle due to the Russia- Ukraine war. There were about 20,000 Indian students pursuing MBBS and engineering in Ukraine who had to return back due to the war. AICTE has written a letter to technical US conveys full support to India's upcoming G20 Presidency The United States has conveyed its full support to India's upcoming G20 Presidency, starting December 1 this year till November 2023. India and the US held the 2+2 Ministerial Dialogue in Washington with the Indian side led by Defence Minister Rajnath Singh and External Affairs Minister S Jaishankar and the American side was represented by Secretary of State Anthony Blinken and Defence Secretary Lloyd Austin on Monday. The joint statement issued after the fourth India-US 2+2 Ministerial Dialogue stated "the United States conveyed its full support to India's upcoming G20 Presidency from December 2022 to November 2023". In this context, the Ministers reiterated their commitment to work closely on international security, social, and economic issues of global interest and impact, added the statement. Earlier, on Thursday, responding to a question in the Rajya Sabha on the manner in which India is preparing to assume the responsibility of the Presidency of G20 this year in December, the Minister of State for External Affairs Rajkumar Ranjan educational institutions while keeping in mind the future of these students. In the letter, the council has said, "Around 20,000 Indian students have returned to the country from war-torn Ukraine, where they were studying medicine and engineering at various universities in Ukraine. These students who returned from Ukraine are in deep despair." Indian students from Ukraine have left the course midway and returned home under Singh had elaborated upon the role of India as the G-20 Presidency and responsibilities and power the position would bring for the country. "As the G20 Presidency, India will set the agenda for the year, identify the themes and focus areas, conduct "As the G20 Presidency, India will set the agenda for the year, identify the themes and focus areas, conduct discussions and work out outcome documents." discussions and work out outcome documents. "The G20 Secretariat will be responsible for a smooth transition from the previous Presidency, preparations and conduct," the Minister of State had said. He said the hosting of the G20 deliberations would also result in "economic opportunities in different sectors such as tourism, hospitality, IT and civil aviation among others, during our Presidency year". "India will be in a position to identify, highlight, develop and strengthen international support for priorities of vital importance to developing countries in diverse social and economic sectors, ranging from energy, agriculture, trade, digital economy, health and environment to employment, tourism, anti-corruption and women empowerment, including in focus areas that impact the most vulnerable and disadvantaged," he had said. compulsion. For now, their future seems to be hanging in the balance. Students aspiring to do MBBS prefer to go to Ukraine because the cost of studies there is less and on the other hand the competition for admission in medical colleges in India is very high. According to the rules issued by the National Medical Commission (NMC) in 2021 for those pursuing medical graduates (FMGs) abroad, there is no provision for transfer from a foreign university to an India, US call on Pakistan to ensure its territory is not used for terror attacks India and the US have called on Pakistan to take immediate, sustained, and irreversible actions to ensure that no territory under its control is used for terrorist attacks. In a joint statement issued on the fourth India-US 2+2 Ministerial Dialogue, Defence Minister Rajnath Singh, External Affairs Minister Dr S Jaishankar, US Secretary of State Antony J Blinken and Secretary of Defense Lloyd J Austin III welcomed the convening of the 18th Meeting of the India-US Joint Working Group on Counter-Terrorism and the 4th Session of the India-US Designations Dialogue in October 2021. Expressing strong condemnation against the use of terrorist proxies and cross-border terrorism in all its forms, the ministers called for the perpetrators of the 26/11 Mumbai attack, and Pathankot attack, to be brought to justice. They called for concerted action against all terrorist groups, including groups proscribed by the United Nations Security Council 1267 Sanctions Committee, such as al-Qa'ida, Islamic State (Deash), Lashkar-e-Tayyiba (LeT), and Jaishe-Mohammad (JeM), and Hizb ul Mujahideen. The two sides committed to the continued exchange of information about sanctions and designations against terror groups and individuals, countering violent radicalism, use of the Internet for terrorist purposes, and cross-border movement of terrorists. They also emphasized the importance of upholding international standards on anti-money laundering and combating the financing of terrorism by all countries, consistent with the Financial Action Task Force (FATF) recommendations. The ministers also reaffirmed their support for the early adoption of a UN Comprehensive Convention on International Terrorism (CCIT) that advances and strengthens the framework for global cooperation and reinforces that no cause or grievance justifies terrorism. Both sides also looked forward to the next India-US Counter Narcotics Working Group meeting in 2022 and enhancing cooperation through a bilateral Counter- Narcotics Framework to combat drug trafficking, illicit narcotics production, and precursor chemical supply chains. Indian university in the middle of an MBBS programme as both the admission guidelines and the selection criteria are different. The issue was also raised in the Parliament.AICTE has urged various institutions to consider the candidature of students returned from Ukraine for the vacant seats available in the respective years so that the students can continue their studies.
The Indian Weekender Friday, April 15, 2022 WORLD 15 Biden will speak to Modi as US warns India on imports of Russian energy President Joe Biden will meet virtually with Indian Prime Minister Narendra Modi on Monday, the White House said, at a time when the United States has made clear it does not want to see an uptick in Russian energy imports by India. “President Biden will continue our close consultations on the consequences of Russia’s brutal war against Ukraine and mitigating its destabilizing impact on global food supply and commodity markets,” Press Secretary Jen Psaki said in a statement on Sunday. Daleep Singh, U.S. Deputy National Security Adviser for International Economics, who visited India recently, said the United States will not set any “red line” for India on its energy imports from Russia but does not want to see a “rapid acceleration” in purchases. Lured by steep discounts following Western sanctions on Russian entities, India has bought at least 13 million barrels of Russian crude oil since the country invaded Ukraine in late February. That compared with some 16 million barrels for the whole Sri Lanka temporarily suspends foreign debt payments Sri Lanka's Finance Ministry said the government has decided to suspend normal debt servicing of all affected debts for an interim period till it puts together an orderly and consensual restructuring program supported by the International Monetary Fund (IMF). The Ministry added that debt repayments would be restructured in a manner consistent with an economic adjustment program supported by the IMF, which will apply to all debt repayments. However, it said credit facilities and any amounts disbursed under existing credit facilities are not subject to this policy and would be serviced normally, Xinhua news agency reported. The Finance Ministry added that creditors, including foreign governments that had lent to the South Asian nation, were free to capitalise any interest payments due to them from Tuesday afternoon or opt for payback in Sri Lankan rupees. of last year, data compiled by Reuters shows. This meeting will precede the “U.S.-India 2+2 Ministerial” meeting between U.S. Secretary of State Antony Blinken, U.S. Secretary of Defense Lloyd Austin, India External Affairs Minister Subrahmanyam Jaishankar and India Defense Minister Rajnath Singh, the White House said. Biden, who last spoke to Modi in March, recently said that only India among the Quad group of countries was “somewhat shaky” in acting against Russia over its invasion of Ukraine. The South Asian nation has tried to balance its ties with Russia and the West but unlike other members of the Quad countries – United States, Japan and Australia – it has not imposed sanctions on Russia. Russia has long been India’s biggest supplier of defence equipment despite growing purchases from the United States in the past decade. Defence analysts say Russian supplies are more cost competitive and vital for India as it faces a superior Chinese military. Daleep Singh during his visit said the United States was ready to help India diversify its energy and defence supplies. India is the world’s thirdbiggest oil importer and consumer. He also warned that the United States does not want its allies helping resurrect the rouble, which nosedived immediately after the war began but has recovered in recent days. Ukraine on Sunday said it was seeking another round of European Union sanctions against Moscow and more military aid from its allies as it braces for a major Russian offensive in the east of the country. Russia has failed to take any major cities since it launched its invasion on Feb. 24 but Ukraine says it has been gathering its forces in the east for a major assault and has urged people to flee. Moscow has rejected accusations of war crimes by Ukraine and Western countries. It has denied targeting civilians in what it calls a “special operation” to demilitarise and “denazify” its southern neighbour. Ukraine and Western nations have dismissed this as a baseless pretext for war. Biden and Modi will also discuss cooperation on a range of issues including ending the COVID-19 pandemic, countering the climate crisis, strengthening the global economy, and upholding a free, open, rules-based international order to bolster security, democracy, and prosperity in the Indo-Pacific, Psaki said. Australian election campaign begins, polls show opposition ahead Australia Prime Minister Scott Morrison extended his lead as the country’s preferred leader but his government could still lose the federal election to be held next month, a poll showed, the first day of the official campaign. A Newspoll conducted for The Australian newspaper showed Morrison gaining a point to 44%, while opposition leader Anthony Albanese falling 3 points to 39%, the largest lead the prime minister has held over his rival since February. Australia will hold a general election on May 21, Morrison said on Sunday, triggering a campaign expected to be fought over cost-ofliving pressures, climate change and questions of trust and competence of the major parties. Even as Morrison’s personal ratings remained steady, his conservative Liberal National Party coalition could lose 10 seats and the election to Albanese’s centreleft Labor, which leads 53-47 on a two-party preferred basis, the poll said. The government has a oneseat majority in the lower house of parliament. A separate survey done for the Sydney Morning Herald newspaper out on Monday predicted the ruling coalition could lose at least 14 seats including ones deemed safe in resource-rich Queensland and Western Australia states. Labor could return to power for the first time since 2013 should it win some of the key electorates with Morrison kicking off his election campaign from the marginal seat of Gilmore as he prepares to spend six weeks on the road before the vote. “This election … is about a choice,” Morrison said during a media briefing on Monday, and described Albanese’s leadership as “untested and unknown.” “It’s a choice between strong economic management and strong financial management … that contrasts to a Labor opposition who Australians know can’t be trusted to manage money.” Albanese dismissed Morrison’s attacks on his experience as a leader saying he was “ready to govern”. “We saw a government only concerned about cost of living only until the election,” Albanese told Channel Seven. Twitter staff ‘super stressed’ over Elon Musk board chaos on day off Twitter Inc. employees were scheduled to have Monday off, for the company’s monthly “day of rest.” But Elon Musk made it hard not to think about work. Musk, the billionaire who disclosed this month he’d become the largest individual Twitter shareholder, backed away from a plan to join the company’s board over the weekend. Days earlier, Chief Executive Officer Parag Agrawal had laid the groundwork for a friendly relationship by inviting Musk to join the board The company was so confident he’d accept that it listed Musk as a board member on Scott Morrison its investor relations website. Agrawal also organized a question-and-answer session with Musk and employees this week. For some employees, the reversal signaled chaos: Musk was going to keep tweeting his critiques of Twitter to more than 80 million followers on the site, without any requirement to act in the best interests of the company. The Q&A was cancelled. In his announcement late Sunday, Agrawal framed Musk’s surprise decision as good for Twitter, but warned of “distractions ahead.” The whiplash is overwhelming, employees said. The vibe among workers at Twitter is “super stressed,” with employees “working B'desh PM Hasina orders to maintain a risk-free foreign debt limit Bangladesh Prime Minister Sheikh Hasina on Tuesday directed all concerned to take necessary measures so that the country could maintain its current position in the future regarding the foreign debt, as the amount of foreign loans is still "far below" the risk limit. The premier issued this directive while witnessing a presentation on "offshore tax amnesty" and "review of Bangladesh's macroeconomy against the backdrop of Sri Lankan economic crisis" at her official residence Ganabhaban. During the presentation made by the National Board of Revenue (NBR) and Finance Division, the reasons for the ongoing economic crisis in Sri Lanka and its response were discussed in detail alongside reviewing various indicators of Bangladesh's economy compared to other countries in South Asia. "Analyzing various indicators of the economy, it was seen that there is no risk of repaying the foreign debt of Bangladesh in the medium and long terms. Almost all the indices indicate that the economy of Bangladesh is relatively stable," said a statement. However, special emphasis was given to the implementation of an integrated revenue policy and monetary policy to control inflation in the domestic market in the context of abnormal price spiral of fuel, food products, and other items. in the international market. Finance Minister AHM Mustafa Kamal, Prime Minister's Power, Energy, and Mineral Resources Affairs Adviser Dr. Tawfiq-e-Elahi Chowdhury, Prime Minister's Principal Secretary Dr. Ahmad Kaikaus, Bangladesh Central Bank Governor Fazle Kabir, Finance Secretary Abdur Rouf Talukder, NBR Chairman Abu Hena Md. Rahmatul Muneem among others were present. together to help each other get through the week,” some said, asking not to be named discussing internal company details. In recent days, Musk has tweeted product ideas from eliminating advertising for members of Twitter’s subscription service to turning part of its San Francisco headquarters into a homeless shelter. Without a board seat, there are no longer restrictions on how many shares he can buy, or on his tweeting; one employee expressed concern that Musk was “just getting started, which is unfortunate.” Multiple workers described the situation as a “sh-t show.”
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