Pledged $2.6 bn sovereign loans to India in 2023: ADB
The Asian Development Bank (ADB) has pledged $2.6 billion in sovereign lending to India in 2023 for projects aimed at urban development, industrial corridor projects, power reforms, climate resilience, horticulture, and connectivity. The multilateral lender also committed over $1 billion for private sector projects and extended $23.53 million in technical assistance and $4.1 million in grants. Key Points
Economic TimesAsia’s growth outlook remains positive despite external uncertainties, says ADB
The Asian Development Outlook 2024 report suggests that policymakers in the region should monitor a number of risks. These include escalating conflicts and geopolitical tensions. Key Points
ThePrintIndia reaches out to multilateral Development banks to draw road map for becoming developed nation by 204
The finance ministry held a meeting with multilateral lenders on March 7 and sought their inputs on what it termed a budget-plus and finance-plus strategy, which would essentially cover the entire spectrum of project execution and go beyond just planning and financing, people aware of the details told ET. The ministry has reached out to various multilateral bodies to help mobilise other Development finance institutions (DFIs) and investors, they said. Key Points
Economic TimesUN report lauds India for human Development but there is 'room for improvement'
India's Human Development Index (HDI) value saw an upturn in 2022, climbing from 0.633 to 0.644 after a decline in 2021, as per the latest United Nations Development Programme (UNDP) report. Key Points
India TodayCongress neglected Northeast, jeopardised security: PM Modi
Prime Minister Narendra Modi criticized the Congress, accusing it of prioritizing corruption over the Development of border villages, which compromised the country's security. He emphasized his government's commitment to the northeast's development, inaugurating the Sela Tunnel in Arunachal Pradesh. Modi promised to visit the defence personnel at the tunnel in his next term. He highlighted the 'Vibrant Village Programme' and the commencement of road projects and tourism-related projects in numerous villages. Modi also inaugurated and laid foundation stones for various Development projects in Manipur, Meghalaya, Nagaland, Sikkim, Tripura, and Assam. Key Points
Economic TimesBristol Myers CEO says India to have largest R&D presence outside US by 2025
By Rishika Sadam and Leroy Leo HYDERABAD (Reuters) -U.S. drugmaker Bristol Myers Squibb aims to expand its research and Development presence in India and expects its newly inaugurated Hyderabad Key Points
ThePrintSmallcap stock rallies 5% after FM mentions Lakshadweep in Budget speech
Shares of Praveg, a multibagger smallcap stock, rallied 5% after Finance Minister Nirmala Sitharaman announced comprehensive Development of tourist centres. Praveg recently received a work order for the Development of tents at Agatti Island in Lakshadweep, known for its diverse aquatic life and vibrant festivals. With this addition, Praveg now has 9 properties in operation and 12 under development. The stock has more than doubled in the last year. Key Points
Economic Times‘Thank people for their hospitality’: PM Modi recalls his visit to Lakshadweep
Prime Minister Modi also inaugurated and laid the foundation stone of various Development projects. He also interacted with beneficiaries of govt schemes. | Latest News India Key Points
Hindustan TimesET explainer: TDRs, tool for structured, planned urban growth
The concept of TDRs originated in New York City in the early 1960s. While it has been utilized worldwide since then, it has garnered increased attention, particularly in major Indian cities over the past few decades. This surge in interest is driven by the necessity for organized Development to prevent unplanned and chaotic urban growth. The concept evolved as a way to compensate property owners for Development limitations in one location by providing them with the option to transfer their Development rights to another location where additional Development was encouraged. Key Points
Economic TimesP20 a success, differences remain on global conflicts
The P20 parliamentary speakers' summit ended with discussions on sustainable Development goals, green energy, women-led development, and digital public infrastructure. Divergent views were expressed on conflicts between Israel and Hamas, and Ukraine and Russia. The meeting also discussed global challenges, including geopolitical tensions and economic issues. The joint statement adopted called for increased efforts against terrorist groups and emphasized the importance of parliamentary diplomacy for promoting peace and harmony. | Latest News India Key Points
Hindustan Times
World Bank for $100 billion extra annual lending capacity for climate change and poverty
The final recommendations of the joint ministerial committee of the boards of governors of World Bank and the International Monetary Fund reflect suggestions made by the Independent Expert Group set up by the G20 co-chaired by 15th Finance Commission chairman N.K. Singh and former US treasury secretary Larry Summers. Key Points
Economic TimesTata Technologies joins AUTOSAR as premium partner
Tata Technologies has become a premium partner in AUTOSAR, a Development partnership of car manufacturers, suppliers and other firms aimed at standardising software architecture for vehicle electronic control units. The move is designed to improve efficiency and integration while reducing costs across the sector. Key Points
Economic TimesBiocon Biologics announces top leadership appointments
Biocon Biologics Ltd has made several key leadership appointments, including appointing Rhonda Duffy as Chief Operating Officer and Sandeep Athalye as Chief Development Officer. The subsidiary of Biocon Ltd has also hired David Gibson as Global Head - Business Development, who will lead all licensing, strategic partnering, and business Development activities. Key Points
Economic TimesToyota to boost EV Development and technology in China
Toyota (7203.T) will strengthen Development of electric vehicle technology in China, the automaker said on Monday, as it looks to catch up with increasingly tough domestic competition in the world's largest auto market. Key Points
ReutersEBRD makes a case for multiple multilateral banks with diverse approaches
The European Bank for Reconstruction and Development (EBRD) said that different multilateral Development banks (MDBs) are useful as they each have different perspectives and approaches that can complement each other, during the G20 finance ministers and central bank governors meeting. EBRD President Odile Renaud-Basso said deeper engagement with the Indian private sector is being sought and that the Indian government has recognised MDB reforms as a key area of focus. Key Points
Economic Times
Northeast India is witnessing surge in infrastructure development: FICCI President
Northeast India is witnessing a surge in infrastructure development, said Subhrakant Panda, President of Federation of Indian Chambers of Commerce and Industry (FICCI). Lack of connectivity had hindered the region's Development earlier, but now the focus is on capital expenditure and increasing per capita income. Assam plays a crucial role in the Development of the region with a significant position in India's Act-East Policy. Key Points
Economic TimesEAM Jaishankar flags supply chain disruptions, prolonged debt crisis as key challenges facing world
The prospects of a global economic recovery remain dim amid supply chain disruptions, prolonged debt crisis and pressures on energy, food and fertiliser security, External Affairs Minister S. Jaishankar said on Monday, calling for a united global approach to deal with the challenges. Key Points
The HinduGeopolitical tensions and COVID-19 impacted Development in Global South: PM Modi
Development in the global south was impacted by “geopolitical tensions” and the COVID-19 pandemic, said Prime Minister Narendra Modi on Monday. Inaugurating the G20 Development Ministers’ meeting in Varanasi, PM Modi called for “inclusive and fair” attempts to achieve global developmental goals and said India is following a “women-led” Development model. Key Points
The HinduAnti-poverty schemes may help poor children’s brains grow normally
The relationship between brain Development and low-income is relatively well-established, but the role of anti-poverty policies in this relationship is not. A new study fills this gap. Key Points
The HinduHow IAF is driving military startups?
The Indian air force aims to maintain its edge as the technological powerhouse. Under its modernization plan, the IAF has initiated critical projects for the Indian industry, including defence startups. These efforts towards capability Development will culminate in the induction of such indigenously developed capabilities in the armed forces, says Deputy Chief of the IAF, Air Marshal Ashutosh Dixit. Key Points
Financialexpress
Need to focus on infra, investment, innovation, inclusivity for sustainable growth: Nirmala Sitharaman
Elaborating on the four Is, the Minister said investment is essential to spur infrastructure development, which has a potential to generate jobs. The third I is for innovation, she said adding innovative solutions from startups are required to deal with issues facing the countries. Key Points
Economic TimesMicrosoft's top scientist opposes Elon Musk's letter calling for AI ban, calls it an ill-defined request
Microsoft's Chief Scientific Officer, Eric Horvitz, says we need to accelerate AI Development to understand the technology better. He also called Elon Musk and other tech experts' request of pausing AI Development as 'ill-defined' in some ways. Key Points
India TodayG20 panel on multilateral banks’ reforms to meet this week
The G20 expert group on reforming multilateral Development banks (MDB), jointly steered by Harvard University president emeritus Lawrence Summers and Fifteenth Finance Commission Chairperson N.K. Singh, is slated to hold its first in-person meeting in Washington this week. Key Points
The HinduMaking Development much more inclusive
The old growth versus equity, and Development versus environment, approaches became less salient. Equity, access and democratic participation, diversity and pluralism are today seen as integral to development, with policy choices being predicated on sustainability and inclusivity. Key Points
Hindustan Times100 industrial clusters identified for infrastructure development
This is in sync with Prime Minister Narendra Modi's vision of 'area-based' Development approach. The number of such clusters will go up as we move ahead, Sumita Dawra, special secretary in the Department for Promotion of Industry and Internal Trade (DPIIT), told reporters here on Thursday. Key Points
Economic Times
The world is seeing huge transitions — these will reshape our approach to development: Achim Steiner
There is a great deal of interest in technological horizons now — its fair to say that digital will transform virtually every aspect of development. Think of our ability, as seen during the pandemic, to very swiftly use data, identify the most vulnerable people and establish a digital platform for cash transfers as an essential temporary income — there are realms of possibility now which didnt even exist until a few years ago. Key Points
Economic TimesFaculty development: A catalyst for India’s emergence as a global ESDM and semiconductor leader
While assessing the current state of the industry-academia relationship in India’s semiconductor sector, it is not a new concept. Indian semiconductor companies have been collaborating with academia for research and Development for quite some time now. Key Points
FinancialexpressGurugram: The perfect destination for investment in plotted development
Gurugram is quickly emerging as the perfect destination for investment in plotted development. The area's excellent connectivity, social infrastructure, and Development potential make it an attractive investment destination for investors. Key Points
Financialexpress