Model good Neighbourliness : India, Bangladesh sign security & trade deals

Hon’ble Prime Minister Narendra Modi met the visiting Prime Minister of Bangladesh Sheikh Hasina in New Delhi on Oct. 5, 2019. India and Bangladesh took steps to expand and strengthen their bilateral relationship for mutual benefit, agreeing on the setting up of a coastal surveillance radar system, use of two Bangladeshi ports for movement of goods between the countries, supply of Bangladeshi cooking gas for India’s Northeastern states, and the lifting of water for drinking from a transnational river in Tripura.

India & Bangladesh collaborators in making both countries prosperous : Piyush Goyal at the India - Bangladesh Business Forum

On the occasion of India - Bangladesh Business Forum held in New Delhi on Oct 4, 2019, two Government to Business (G2B) MoUs were signed between Start up Bangladesh & Tech Mahindra and Bangladesh Economic Zones Authority and Adani Ports & SEZs. Cumulative Foreign Direct Investment from India to Bangladesh has more than doubled from $243.91 million in 2014 to $570.11 million in December 2018. The Prime Minister of Bangladesh Sheikh Hasina, was also present at the Forum.

Government will protect small retail businesses : Piyush Goyal at the World Economic Forum

Talking at the World Economic Forum held in New Delhi, Minister of Commerce & Industry Piyush Goyal said that the Government cannot let the small retail businesses die and that is the reason why the Government has maintained its stand to restrict the FDI in multibrand retail to 49 percent. He said that he welcomes foreign e-commerce companies in India but they should work in the true spirit of the law and should not act as a principal player in the market.

India’s forex reserves scale record high of $434.6 billion

While announcing fourth bi-monthly monetary policy, the RBI Governor Shaktikanta Das said as of October 1, 2019, the foreign exchange reserves touched a record high of $434.6 billion. Between April and October 1, 2019, the country’s forex reserves had increased by $21.7 billion. According to the latest weekly data, the reserves surged by a massive $5.022 billion to $433.594 billion for the week to September 27, 2019.

Startup India launches Single Use Plastic International Grand Challenge

The target of the single use plastic Grand Challenge is to incentivise innovators and Startups to develop design solutions. The solutions must also have the same or greater functionality as the products they are designed to replace and must be designed with current production methods in mind. The theme will focus on the entire value chain. Last date to apply is 22 October 2019.