ModiWatch: Prime Minister Narendra Modi met with Brunei’s Sultan Haji Hassanal Bolkiah in Bandar Seri Begawan, engaging in discussions aimed at deepening bilateral ties. The leaders elevated bilateral ties to an Enhanced Partnership, discussing cooperation in defence, trade, technology, and regional issues. They witnessed the signing of a memorandum of understanding (MoU) on satellite technology collaboration and welcomed upcoming direct flights between the countries.
PM Modi arrived in Singapore on Wednesday after concluding his visit to Brunei. Invited by Singaporean Prime Minister Lawrence Wong, PM Modi expressed enthusiasm for deepening India-Singapore relations through meetings focused on boosting economic and cultural ties. Highlighting India's reforms and the potential of its youth, he highlighted India’s appeal as an ideal investment destination.
President authorises Delhi L-G authority to form and appoint members to statutory bodies: President Droupadi Murmu has granted the Delhi Lieutenant Governor (L-G) the power to establish authorities, boards, commissions, and statutory bodies under laws enacted by Parliament for Delhi. This delegation, announced by the Union Home Ministry, also allows the L-G to appoint members to these entities. The directive, issued under constitutional provisions and the Government of National Capital Territory of Delhi Act, places the L-G's exercise of these powers under the President's control until further notice. This move will increase the L-G's administrative authority in Delhi's governance structure.
India leads green transition in ports: India has positioned itself as a pioneer among large economies in developing a detailed green transition plan for its maritime sector. Ports, Shipping and Waterways Minister Sarbananda Sonowal highlighted this achievement whilst unveiling plans for the Vadhvan mega port. This $10 billion project is expected to generate significant employment and global interest. Sonowal also introduced 'Sagarmanthan,' a new maritime dialogue aimed at promoting sustainable oceanic development.
CapitaLand aims to double India investments by 2028: Singapore's CapitaLand Investment announced plans to more than double its funds under management in India to over S$14.8 billion by 2028, up from S$7.4 billion in June. CEO Lee Chee Koon cited rising demand from international corporations and investors for quality assets, adding that the company would explore opportunities in renewable energy and real estate private credit sectors.
Indian spirits ready to shine on the global stage: The Agricultural and Processed Food Export Development Authority (APEDA), under the 'Make in India' initiative, is targeting $1 billion in export revenue by promoting both alcoholic and non-alcoholic beverages internationally. Currently ranked 40th in global alcoholic beverage exports, India aims to expand its reach to key foreign markets.
India charges up battery production: India's Ministry of Heavy Industries (MHI) selected Reliance Industries Limited to produce 10 GWh of Advanced Chemistry Cell (ACC) battery capacity under the Production Linked Incentive (PLI) scheme. This decision, based on a Quality and Cost-Based Selection (QCBS) mechanism, aims to enhance domestic manufacturing, reduce imports, and establish India as a global leader in ACC battery production.
New notary portal: Union Minister for Law and Justice, Arjun Ram Meghwal, launched a new Notary Portal in New Delhi, marking a significant step towards digital India.. The user-friendly portal facilitates online applications for notary appointments, certificate issuance and renewals, practice area changes, and annual returns. Central Notaries can now submit applications, track progress, and download digitally signed Certificates of Practice directly from their Digilocker accounts, eliminating the need for physical submissions.
Scheme extended to boost exports: The government has extended the Interest Equalisation Scheme for pre- and post-shipment rupee export credit by one month, now running until 30th September 2024. The new extension applies exclusively to Micro, Small and Medium Enterprises (MSME) manufacturing exporters, aiming to support these businesses with competitive credit rates amidst global economic challenges.
Delhi Today: Thundery showers and light winds.
Rajya Sabha: Rajya Sabha Chairman Jagdeep Dhankhar administered oath to newly elected members at the Parliament House. The new members include the Bharatiya Janata Party’s (BJP) Dhairyashil Mohan Patil from Maharashtra, Kiran Choudhry from Haryana, Rameswar Teli from Assam, George Kurian from Madhya Pradesh, and Dr. Abhishek Manu Singhvi of the Indian National Congress (INC), representing Telangana.
Lok Sabha: Not in session.