Issue 417 = 03-09-2021

38 03/09/2021 NEWS LITERATURE POLITICS FASHION ART & CULTURE KIDS RELIGION FILMS
www.samajweekly.com
UK announces $1.2 billion
for green projects in India
Internet shutdown in Kashmir
to continue on Friday
New Delhi : A $1.2 billion
package of public and
private investment in green
projects and renewable energy
are among the new steps
to tackle climate change and
boost investment announced
by UK Chancellor of
Exchequer Rishi Sunak and
Indian Finance Minister
Nirmala Sitharaman on
Thursday.
Apart from the package,
Sunak and Sitharaman
announced the joint launch
of the Climate Finance
Leadership Initiative (CFLI) India partnership
to mobilise private capital into sustainable
infrastructure in India.
The announcements were made at the
11th Economic and Financial Dialogue
(EFD) between the UK and India, a release
from the British High Commission said.
These investments will support India’s
target of 450GW renewable energy by 2030.
"The UK-India economic relationship is
already strong with bilateral trade of over 18
bn pounds in 2020, supporting nearly half-amillion
jobs in each other’s economies.
Earlier this year, the UK and Indian Prime
Ministers launched the ’UK-India 2030
UK retailers to face pressures
from driver shortage, Brexit
London : UK retailers will face mounting pressures in the coming
months because of lorry driver shortages and Brexit-related trade
disruptions, according to an industry report.
Shop Price deflation was 0.8 per cent lower year-on-year in
August compared to July’s decrease of 1.2 pe rcent, data from British
Retail Consortium and research group NielsenIQ revealed on
WEdnesday. "This is a slower rate of decline than the 12- and 6-
month average price decreases of 1.5 per cent and 1.2 per cent,
respectively," Xinhua news agency quoted the report as saying.
"While it is good news that overall retail prices fell year on year,
there was a slight rise in prices on the previous month. There are
some modest indications that rising costs are starting to filter through
into product prices," said Helen Dickinson, chief executive of the
British Retail Consortium.
The report said some of the non-food categories, such as electricals,
saw sharp rises in inflation compared to last year, owing to global
issues from delayed shipping and shortages of microchips.
While food retailers are fighting to keep their prices down as far
as possible, mounting pressures from rising commodity and shipping
costs as well as Brexit-related red tape, mean this will not be sustainable
for much longer, and food price rises are likely in the coming
months, it said. To make the situation worse, the HGV (Heavy
Goods Vehicle) driver shortage has created an additional problem
with a shortfall of 90,000 drivers, it said. "Disruption has been limited
so far, but in the run up to Christmas the situation could get worse,
and customers may see reduced choice and increased prices for their
favorite products and presents," Dickinson said. She urged the UK
government to increase the number of HGV driving tests, provide
temporary visas for European Union drivers, and make changes on
how HGV driver training can be funded.
Roadmap’, to bring the economies and people
closer together over the next decade and
boost cooperation in areas that matter to both
countries. The countries have also set out an
ambitious goal to double the trade by 2030,
including through negotiating a Free Trade
Agreement," the release said.
Sunak and Sitharaman also agreed to be
ambitious when considering services in the
upcoming UK-India trade negotiations,
which could open up new opportunities for
UK financial firms and help more Indian
companies to access finance in the city of
London. Services account for 71 per cent of
the UK’s GDP, and 54 per cent of India’s
GDP, the release said. Sunak, said: "The UK
and India already have strong ties,
and today we’ve made important
new agreements to boost our relationship
and deliver for both our
countries. Supporting India’s green
growth is a shared priority, so I’m
pleased that we’ve announced a
$1.2bn investment package, and
launched the new CFLI India partnership,
to boost investment in sustainable
projects in India as the UK
gears up to host COP26..." High
Commissioner to India, Alex Ellis,
said: "The Economic and Financial
Dialogue between our Finance
Ministers is another step towards
realising the ambition agreed between Prime
Ministers (Boris) Johnson and (Narendra)
Modi in the 2030 bilateral Roadmap; especially,
with the COP26 climate conference
starting in Glasgow in two months, in tackling
climate change. Today’s discussions and
agreements show what closer economic and
financial ties between the UK and India can
offer."
The UK also welcomed India’s recent
decision to lift the Foreign Direct Investment
cap in the insurance sector from 49 per cent
to 74 per cent, which will help British firms
to take greater ownership of their operations
in India, the release added.
Srinagar : The situation across Kashmir remained peaceful and
no any untoward incident was reported on Thursday as the last rites
of senior separatist leader Syed Ali Shah Geelani were held in
Srinagar, police said.
"Some vested interests tried to spread baseless rumours about
forcible burial of S.A.S. Geelani by police. Such baseless reports
which are a part of false propaganda to incite violence are totally
refuted by the police," police said.
"As a matter of fact, police instead facilitated in bringing the dead
body from house to the graveyard as there were apprehensions of
miscreants taking undue advantage of the situation. The relatives of
the deceased participated in the burial.
"It is also pertinent to mention that similar restrictions and internet
shutdown will continue tomorrow (on Friday). We shall review
the situation tomorrow (Friday) afternoon and take further course of
action," police added.
Police have requested public not to pay heed to the rumours being
spread by the anti-national elements, especially across the border, as
they are trying to take undue advantage of the situation and to disturb
the peaceful atmosphere in the Valley.