Newsletter
India Bulletin
(Issue no:1, August 2022)
India elects its 15th President
Presidential election of India was held on 18 July, 2022. Smt. Droupadi Murmu has been elected as the 15th President of India. She will be India’s first President from a tribal community. Smt. Murmu hails from Rairangpur of Mayurbhanj district of the state of Odisha in eastern India. She belongs to a humble family and started her career as a teacher. She has served as a Minister of the State Government of Odisha. Later, she became the first female Governor of the state of Jharkhand serving from 2015 to 2021. When the country is about to celebrate its 75th anniversary of Independence, the election of Smt. Droupadi Murmu as President of India is considered as a milestone in the history of independent India.
Prime Minister unveiled the National Emblem cast on the roof of the New Parliament Building
The National Emblem is made of bronze with a total weight of 9500 Kg and is 6.5 m in height. It has been cast at the top of the Central Foyer of New Parliament Building. A supporting structure of steel weighing around 6500 Kg has been constructed to support the Emblem. The concept sketch and process of casting of the National Emblem on the roof of New Parliament Building has gone through eight different stages of preparation from clay modelling/computer graphic to bronze casting and polishing.
External Affairs Minister of India participates in Shanghai Cooperation organisation FMs’ meeting in Tashkent
Hon’ble External Affairs Minister of India Dr. S. Jaishankar participated in the SCO FMs’ meeting in Tashkent on 29 July 2022. In the meeting he called for urgently addressing energy & food crisis caused by disruptions from the Covid-19 pandemic and Ukraine conflict. He emphasised the responses to the crises should include resilient & diversified supply chains as well as reformed multilateralism. He urged that there should be zero tolerance for terrorism. Reiterating India’s position on Afghanistan he highlighted India’s humanitarian support to that country in terms of supply of wheat, medicines, vaccines and clothing. He also underlined the potential of Chabahar port for SCO’s
economic future. EAM had also highlighted the economic progress made by India in last few years stressing the relevance of startups and innovation.
Apart from India, Foreign Ministers of China, Kazakhstan, Kyrgyzstan, Pakistan, Russia, Tajikistan and Uzbekistan also participated. The meeting discussed the preparations for the forthcoming SCO Summit of Heads of State scheduled to be held in Samarkand on 15-16 September 2022 and witnessed a dialogue on international and regional issues.EAM also held bilateral meetings on the sidelines of the SCO FMM with counterparts from Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan and with the Secretary General of the SCO.
EAM met Foreign Minister of China on the sidelines of G20 FMs’ meeting in Bali
External Affairs Minister of India Dr.S.Jaishankar met the Foreign Minister of China Mr. Wang Yi in Bali on the sidelines of G20 foreign Ministers meeting. The discussions focused on specific outstanding issues in bilateral relationship pertaining to the border situation. Also they discussed other matters including students and flights, shared perspectives on the international situation and its impact on the G20 deliberations.
Economy
Economy to grow by 8.5% as per Q1 data: FinMin
On 31 January this year, the Economic Survey estimated that the Gross Domestic Product (GDP) growth of India to be at 8-8.5%, for FY23. The International Monetary Fund (IMF) projected India's real GDP growth to be at 8.2% in FY23. The GDP for FY22 stood at INR 2,36,64,637 crore and the GDP growth rate at 8.7%. The fiscal deficit for FY22 stood at 6.7% of the GDP.
The Indian economy is on the road to achieving a projected 8-8.5% growth due to observations from high-frequency indicators for the first quarter of the FY23, according to a report from the Ministry of Finance, Government of India. (https://indbiz.gov.in/economy-to-grow-by-8-5-as-per-q1-data-finmin/)
‘NIRYAT’ portal launched
On 23 June Prime Minister Narendra Modi inaugurated the new premises of the Ministry of Commerce and Industry, ‘Vanijya Bhavan’ and launched the NIRYAT portal. This portal is designed to provide all the information related to foreign trade in one place. It will be a one-stop platform of information for all stakeholders involved in foreign trade.
NIRYAT portal will facilitate analysis of data from the world map view,
commodity view, and country view.
For the first time, we will be able to see the exports of various commodities from the states easily and analyze them in time. This will promote healthy competition among them to create export hubs in the states and necessary steps will be taken after this analysis.
This portal will make a significant contribution to achieving India's ambitious export targets and in formulating and implementing a comprehensive action plan. As a result, India will gain a prominent position in the global economy due to its strong export potential.
Last financial year, despite historic global challenges, India exported a total of 670 billion dollars or Rs 50 lakh crore. Last year, the country decided to cross the 400 billion dollars or Rs 30 lakh crore merchandise goods export mark despite every challenge. But we surpassed it and set a new record of 418 billion dollars, or Rs 31 lakh crore in exports.
(https://newindiasamachar.pib.gov.in/WriteReadData/flipbook/2022/Jul/2nd/English/index.html)
ISRO Earns US$ 279 mn in Foreign Exchange
The Indian Space Research Organisation (ISRO) has launched 345foreign satellites from 34 countries on board Polar Satellite Launch Vehicle (PSLV) Total revenue from foreign exchange earned through the launching of international satellites amounts to US$ 56 million The latest PSLV mission called ‘PSLV-C53’ placed three Singaporean satellites into orbit The PSLV-C53 is the second commercial mission for NewSpace India Limited (NSIL).
ISRO has earned US$ 279 million dollars in foreign exchange by launching satellites for global clients through its commercial arms, according to Union Minister Jitendra Singh. ISRO has launched 345 foreign satellites from 34 countries on board the PSLV, in association with its commercial arms. Total revenue from foreign exchange earned through the launching of international satellites amounts to US$ 56 million and about US$ 223 million.
The latest PSLV mission, called ‘PSLV-C53’ placed three Singaporean satellites into orbit, namely DS-EO, NeuSAR and SCOOB-1. They were placed on June 30 through ISRO’s ‘Warhorse’ launch vehicle. The PSLV-C53 is the second commercial mission for NSIL, a Central Public Sector Enterprise under the administrative control of the Department of Space (DOS). (https://indbiz.gov.in/isro-earns-us-279-mn-in-foreign-exchange/)
India signs more than 1100 deals worth US$ 104 bn in H1 2022: Report
India Inc witnessed around 1,149 deals, at a combined valuation of US$ 104.3 billion in the first half of 2022 despite global uncertainties, according to a report by Grant Thronton, an accounting firm. The report claims that overall deal volumes have undergone a 34% increase, with deal values doubling with a 143% growth, compared to the same period last year. Also, India saw US$ 6 billion from 17 IPOs, which has been the highest value raised in the first six months.
Overall deal volumes have undergone a 34% increase, and deal values have more than doubled with a 143% growth, compared to the first half (H1) last year. Maharashtra, Karnataka, and Delhi’s startups generated 146,000, 103,000 jobs, and 87,643 jobs respectively The startups raised about US$ 63 billion between 2016 and 2020. Startup investments increased more than three-fold in 2021 from US$ 11 billion in 2020. The Indian government has undertaken 52 regulatory reforms to reduce compliance issues. (https://indbiz.gov.in/india-signs-more-than-1100-deals-worth-us-104-bn-in-h1-2022-report/)
India received US$ 87 bn in remittances in 2021: World Bank Report
India received US$ 87 billion in remittances in 2021, a gain of 4.6% from the previous year, according to a report from the World Bank. The United States accounted for over 20% of these funds, making it the biggest source of remittance. India had received over US$ 83 billion in remittances in 2020, followed by China, Mexico, the Philippines, and Egypt. Remittances in India are projected to grow by 3% in 2022 to US$ 89.6 billion, which reflects a fall in overall migrant stock. Remittances to countries with low and middle income are projected to have increased by 7.3% to reach US$ 589 billion in 2021.
(https://indbiz.gov.in/india-received-us-87-bn-in-remittances-in-2021-world-bank-report/)
India to have 122 new unicorns in the next 2-4 years: Report
India is expected to have 122 new Unicorns in the next 2-4 years, according to a report titled ‘Hurun India Future Unicorn Index 2022’ by the Hurun Research Institute. These future Unicorns presently have a cumulative value of US$ 49 billion. A startup achieves a “Unicorn” status when it reaches US$ 1 billion in valuation.
According to the report, Bengaluru, which has the most Unicorns in the country, will see 46 new additions to its existing list of 33 Unicorns, Delhi NCR would add 25, 16 will be added in Mumbai, five Unicorns in Chennai, and three in Pune. The remaining Unicorns are expected to emerge in 20 other cities. These future Unicorns presently have a cumulative value of US$ 49 billion.
According to experts, India has become the third-largest startup ecosystem in the world and witnessed a record 44 Unicorns emerging in 2021. The experts also mentioned that the number of Unicorns in the country has increased by 65%, Gazelles by 59% to 51, and Cheetahs have increased by 31% to 71. (https://indbiz.gov.in/india-to-have-122-new-unicorns-in-the-next-2-4-years-report/)
India saw 9.36 bn transactions in Q1 2022, with UPI leading
India witnessed 9.36 billion transactions totalling INR 10.25 trillion across various payment methods during the first quarter of 2022, according to a report. The transactions were led by UPI in Q1 2022 with over 14.55 billion transactions in volume and INR 26.19 trillion in terms of value.
According to the report, the UPI Person to Merchant (P2M) transactions were the most preferred payment mode among consumers, with a market share of 64% in terms of volume and 50% in value. The Average Ticket Size (ATS) for UPI Peer-to-Peer (P2P) transactions in January to March quarter was INR 2,455, and for P2M transactions it was INR 860.
The report claims that in Q1 2022, UPI clocked over 14.55 billion transactions in volume and INR 26.19 trillion in terms of value, recording a 99% increase in volume and over a 90% increase in value as compared to Q1 2021.
The total number of Bharat Quick Responses (QRs) was 4.97 million, a 39% rise compared to Q1 2021 while UPI QRs stood at 172.73 million, registering an 87% increase from the same period last year.
Among the top UPI Apps, Phone Pe, Google Pay and Paytm accounted for 94.8% of UPI transactions volume and 93% of UPI transactions value as of March 2022, according to the report.
India and the world
BRICS extremely important in the global post-COVID recovery: PM
Prime Minister Shri Narendra Modi led India’s participation at the 14th BRICS Summit, convened under the Chairship of President Xi Jinping of China on 23-24 June 2022, in a virtual format. President Jair Bolsonaro of Brazil, President Vladimir Putin of Russia, and President Cyril Ramaphosa of South Africa also participated in the Summit on 23 June. The High-level Dialogue on Global Development, non-BRICS engagement segment of the Summit, was held on 24 June.
On 23 June, the leaders held discussions including in fields of Counter-Terrorism, Trade, Health, Traditional Medicine, Environment, Science, Technology & Innovation, Agriculture, Technical and Vocational Education & Training, and also key issues in the global context, including the reform of the multilateral system, COVID-19 pandemic, global economic recovery, amongst others. Prime Minister called for strengthening of the BRICS Identity and proposed establishment of Online Database for BRICS documents, BRICS Railways Research Network, and strengthening cooperation between MSMEs. India will be organizing BRICS Startup event this year to strengthen connection between Startups in BRICS countries. Prime Minister also noted that as BRICS members we should understand security concerns of each other and provide mutual support in designation of terrorists and this sensitive issue should not be politicized. At the conclusion of the Summit, BRICS Leaders adopted the ‘Beijing Declaration’.
On 24 June, Prime Minister highlighted India’s development partnership with Africa, Central Asia, Southeast Asia, and from Pacific to Caribbean; India’s focus on a free, open, inclusive, and rules-based maritime space; respect for sovereignty and territorial integrity of all nations from the Indian Ocean Region to Pacific Ocean; and reform of multilateral system as large parts of Asia and all of Africa and Latin America have no voice in global decision-making. Prime Minister noted the importance of circular economy and invited citizens of participating countries to join Lifestyle for Environment (LIFE) campaign. The participating guest countries were Algeria, Argentina, Cambodia, Egypt, Ethiopia, Fiji, Indonesia, Iran, Kazakhstan, Malaysia, Senegal, Thailand and Uzbekistan.
Earlier, in the keynote speech delivered at the Opening Ceremony of BRICS Business Forum on 22 June, Prime Minister appreciated BRICS Business Council and BRICS Women Business Alliance which continued their work despite COVID-19 Pandemic. Prime Minister also suggested the BRICS business community to further cooperate in field of technology-based solutions for social and economic challenges, Startups, and MSMEs. (https://www.narendramodi.in/pm-modi-takes-part-in-14th-brics-summit-562734)
India elected to UNESCO's Inter-governmental panel for 4 year
India has been elected to the Inter-governmental Committee of UNESCO's 2003 Convention for safeguarding the Intangible Cultural Heritage (ICH) for four years, Union Minister for Culture, Tourism and Development Of North Eastern Region G Kishan Reddy said.
"India gets elected for Intergovernmental Committee of UNESCO 2003 Convention for Safeguarding of the Intangible Cultural Heritage(ICH)for the 2022-2026 cycle" tweeted Reddy.
He also said that India had previously served as a member of the ICH Committee twice, once from 2006 to 2010 and the second term from 2014 to 2018
"As the nation celebrates Azadi Ka#AmritMahotsav,India will be a part of two prominent Committees of UNESCO-Intangible Cultural Heritage(2022-2026) and World Heritage(2021-2025).This is yet another opportunity for India to reinstate the values of"Vasudeva Kutumbakam,”the Union Minister added.
Global Centre for Traditional Medicine established at Jamnagar
The Ministry of Ayush and WHO signed a Host Country Agreement on 25th March 2022 for the establishment of the first WHO’s Global Centre for Traditional Medicine in India. The salient aspects of this agreement are as follows:
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That WHO will set up GCTM Centre in Jamnagar (Gujarat).
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That it aims to support nations in developing policies & action plans to strengthen the role of traditional medicine as part of their journey to universal health coverage.
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The Government shall respect the functional independence of WHO in carryingout its activities and in assigning to the Centre such WHO officials or other WHO personnel as it deems necessary for carrying out the particular functions assigned to the Centre.
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The Government shall provide to WHO, free of charge, appropriate and adequate office premises for the Centre and its installations.
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The Government shall also be responsible for the maintenance and security of the workplace premises for the Centre, its installations and technical plants, together with storage and archive space, meeting space, equipment and other facilities.
The Ground breaking ceremony of main office of WHO GCTM has been carried out by the Prime Minister and DG WHO in Jamnagar, Gujarat. The construction of Interim office of WHO GCTM is under progress.
(https://pib.gov.in/PressReleaseIframePage.aspx?PRID=1845016)
Freedom stories
Sports and culture
India has dominated the game of chess for ages. India has given many iconic players like Neelkanth Vaidyanath, Lala Raja Babu and Tiruvengadacharya Shastri to this game. Now, for the first time in the 95-year history of the Chess Olympiad, India is not only hosting but has also become the first country to start the torch relay for the Chess Olympiad. On June 19, 2022, President of the International Chess Association (FIDE), Arkady Dvorkovich handed over the torch to Prime Minister Narendra Modi before the 44th season of the Chess Olympiad at the Indira Gandhi Stadium in New Delhi.
India has improved its performance in chess in the last 7-8 years. In the 41st Chess Olympiad, India won the first medal in the form of bronze, then in the Virtual Chess Olympiad of 2020 and 2021, India also won gold and bronze respectively. The 44th Chess Olympiad will be held from July 28 to August 10, 2022, at Mahabalipuram near Chennai. The tradition of the chess Olympiad torch relay that India has been proud to start will begin from India in every season of the Chess Olympiad. Prime Minister Narendra Modi believes that this honour is not only the honour of India but also the glorious legacy of chess. For the first time in the 95-year history of the Chess Olympiad, India is hosting this prestigious event while the competition is taking place in Asia after 30 years. The first Chess Olympiad was held in 1927. 188 countries have registered to participate in the 44th edition of the Chess Olympiad.
Commonwealth Games 2022
India is competing at the 2022 Commonwealth Games at Birmingham, England from 28 July to 8 August 2022. It is India's 18th appearance at the Commonwealth Games.
In July 2022, the Indian team of 106 men and 104 women competing in 16 sports was named. India is not competing in 3x3 basketball, beach volleyball, netball and rugby sevens. Indian para-athletes are competing in athletics, para powerlifting, swimming and table tennis.
Hockey player Manpreet Singh and badminton athlete P. V. Sindhu served as the country's opening ceremony flagbearers. Squash player Anahat Singh became the youngest Indian athlete to compete at the Commonwealth Games at just 14 years of age. 45-year old Lawn Bowls player Sunil Bahadur was the oldest player in the contingent. India's first medal of the Games was won by Sanket Sargar with a silver in weightlifting.
As on 4th August 2022, Indian athletes have won 5 gold, 6 silver and 7 bronze medals.
India in China
Ambassador calls on H.E. Wang Yi, Foreign Minister of China
Ambassador Pradeep Kumar Rawat made a courtesy call on State Councillor and Foreign Minister H.E. Wang Yi at Diaoyutai State Guest House on 22 June 2022 and discussed bilateral and multilateral issues of interest to both sides.
Ambassador participated in the round table discussion to mark 20th anniversary of adoption of SCO charter
Ambassador Pradeep Kumar Rawat presented his views at the Roundtable orgnazied by the SCO secretariat on 30 June to commemorate the 20th anniversary of the adoption of SCO charter and the 15th anniversary of signing of the Treaty of Longterm Good Neighbourliness, Friendship and Cooperation. A photo exhibition on 20 years of SCO was also held on the occasion.
Celebrations of 8th International Day of Yoga
Beijing
Shanghai
Nanjing
Hangzhou
Yiwu
Guangzhou
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CONSULATE GENERAL OF INDIA
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Tel:(+86 21) 6275 8882, 8885, 8886,
Fax: (86 21) 62758881 & 62956892,
