Canadian Prime Minister Candidate Dr. Raphael Louis recently joined Peacful Mind Foundation

New Delhi 1 March 2017:  Canadian Prime Minister Candidate Dr. Raphael Louis recently joined Peaceful Mind Foundation to show his support to the children, adolescent and families with mental health. Peaceful Mind Foundation, a multidisciplinary organisation, is delicately working for the cause of mental health in India and also providing a holistic environment that fosters growth and development for all.  Mental Health, an issue overlooked since long, needs an urgent attention, considering the fact that India hosts a large population in this category. Dr Nabhit Kapur Founder Peacful Mind which work in the domain of Mental Healthcare recommends everybody requires mental peace. According to WHO (World Health Organization) “Health can be defined as a state of complete mental, physical and social well-being".

About Peaceful Mind: 
Peaceful Mind Foundation came in to being in July 2015 and has, in a short span of time grown exponentially, today PMF is a name to reckon with. Peacful Mind Foundation  works on the Ethos" WE WONT GIVE UPON YOU" so as to empower anyone, especially those experiencing Psychological health problems , emotional turmoil , adjustment issues & concerns and it's endeavor is to make it(Psychology) a household name far and wide , without any stigma or prejudice.
Peacful Mind Foundation  team is passionate and driven about mental wellbeing and Psychology and it boasts of a fine team of highly accomplished Psychologists, counseling Psychologists and Therapists on our directory, who are diligently helping out people in large numbers across all ages.
IT caters to anyone and everyone in society and also extends to professionals who wish to enhance, add to or hone their skills in the field of Psychology, Counseling, Psychometric testing, Therapy, Child Psychology etc.
Peacful Mind Foundation has a very fine global outreach to many countries such as Dubai , Sri Lanka Maldives, Malawi, Jordan, Kenya and etc. our ties with these nations are only strengthening with each passing time.

About Dr Nabhit Kapur
Dr. Nabhit Kapur, 28yrs old, Consultant Psychologist is a very common and famous name in the field of psychology in UAE, Jordan, Sri lanka , Africa and others. He is the founding member of Peacful Mind Foundation in India with a vision to create mental happiness and psychological wellbeing in the world.Dr. Kapur has completed BA (Psychology) from Amity University, Noida & MS (Psychotherapy) from Institute of Behavioral and Management Sciences, Masters in psychology from Kalinga University and Psy.D in neuroscience and psychology from AIU, USA with the mission to promote psychology as a household term, Train as many people in to become ambassadors of mental happiness and well-being, to provide Device strategies for individual and group well-being and De-stigmatize the society regarding the concept of counseling and therapy.

Followed by the specialization in Anxiety Counseling, Behavioral Problem in Children, Divorce Counseling, Marriage Counseling, Behavior Therapy & Counseling, Depression Counseling, Family Counseling and etc. He received many awards in this field, the most recent being the Honorary doctor in philosophy by International royal academy of United Nations, Innovation in education excellence by Delhi Deputy CM , Best psychologist in 2016 and many others across globe.

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Prime Minister of Serbia, Aleksandar Vucic, discusses the European Union and India-Serbia ties

“India and Serbia should work towards retaining their historical political friendship and improving their economic ties with each other”

Mumbai,  January 12, 2017: Gateway House: Indian Council on Global Relations, Mumbai, in collaboration with the Embassy of the Republic of Serbia hosted a luncheon with the Hon’ble Prime Minister of Serbia, Aleksandar Vucic. PM Vucic is on a four-day visit to India at the invitation of Prime Minister, Narendra Modi, the first time a Serbian Prime Minister has visited India in 30 years.

The meeting at Gateway House addressed the ever-relevant topic; “Eurasia: Coherence in a tumultuous world.” Serbia is a land-locked small nation of 7 million which is geographically located between Europe and Asia, and therefore has a keen interest and engagement with both continents.

Prime Minister Vucic said that Serbians liked Indians, and both were “freedom-loving peoples.” He admired Indian entrepreneurship, saying that his country would like to improve and embrace such entrepreneurship.

PM Vucic highlighted Serbia’s will to improve economic ties with India, and further “attract Indian investors to our country”. He desired a boost in trade between the two countries, and discussed a long term goal of creating a visa-free regime between the two. The meeting also touched upon Serbia’s view on terrorism.  On this front the Prime Minister mentioned that Serbia shares India’s sentiment on terrorism and has consistently condemned terrorist attacks in the territory of India.

On the European Union, PM Vucic said that being positioned at the crossroads of  West and East, behooved the country to have a balanced relationship between Europe and Russia. Said Prime Minister Vucic: “Serbia’s strategic goal is to be a full member state of the European Union”, and it will also then be “the only country within the EU which hasn’t imposed sanctions on Russia”.

In conclusion, Prime Minister Vucic thanked Gateway House for organizing the event for him, and wished for a similar institutional focus and concentration in Serbia on foreign policy. “I would like it if we would be able to boast ourselves of having such a great think tank as you have here in Mumbai,” he stated.

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A populous budget 2017-18 on the cards

     With another year passing by and the date for Union Budget 2017-18 fixed for 1st February, all eyes and ears are now eagerly awaiting for this year’s Union Budget which is expected to offer relief to the majority of the population. Also, looking into the political angle of the same, it is no coincidence that the dates for the upcoming Uttar Pradesh elections have been planned just after the Budget announcement. Thus, it is quite evident that a populous Budget is on its way. One of the country’s largest contributor towards Gross Domestic Product (GDP) and employment generation, real estate sector, is extremely hopeful for a fruitful Budget 2017-18.

For the last couple of months, central government has been proactive in terms of providing relief to this sector, its stakeholders and the buyers. Passage of RERA and GST last year, recently concluded 50 days of demonetisation, affordable housing incentives by the Prime Minister on the New Year Eve of 2017 and the relief provided by several banks through lending rate cuts on the New Year day has provided much needed fuel to the realty sector entering into 2017. With such activity, hopes are high for a positive budget for the realty sector this time, if not directly then at least through indirect means.
Although, there are mixed reactions from the realty sector’s stalwarts and experts who somewhere believe that a balanced budget might be announced, where there will not be many benefits for the realty sector; but indirect announcements such as exemptions in tax slabs, etc. that might help the consumers to increase their purchasing power and thus, maintain the flow of money in the economy.
Industry Reactions and Expectations:

Avneesh Sood, Director, Eros Group

Government has already been very active for the realty sector since the Union Budget announcement for 2016-17 last year. Major incentives for both, developers and buyers was announced under affordable housing initiatives and rental housing. Very recently we even observed rate cuts by banks for the housing segment in general, where affordable category received even bigger boosts by the government. This time we are predicting the government to ease the taxation slabs and provide higher spending power to the consumers that will indirectly benefit the economy and the realty sector. Infrastructure will be a crucial side where the government might announce big projects and greater spending. This in return will allow the conversion of rural to urban regions, thereby promoting tier 2 and 3 cities to gain real estate momentum and increase job opportunities.

Deepak Kapoor, President CREDAI-Western U.P. & Director, Gulshan Homz

Housing for all and Affordable Housing have been the two major jargons of the government for the real estate sector, where work has been carried out diligently. Its time now to expand these concepts and increase the benefits for other segments of the population as well. At present, only the EWS and LIG segments have access to the PMAY benefits, and still there is a large segment of youth population which is in dire need of an abode at low cost, and they don’t fall under such categories. This Budget must focus upon providing such benefit to the masses and provide clarity over projects been covered under this scheme. Industry status for the realty sector has been long awaited and it would be a game changer for the sector if it is granted this time. Also, clarity over the slab of GST where the realty sector will fall is still uncovered. Overall, it is expected that Union Budget 2017-18 will be a common man’s budget where positive changes in the income tax structure is highly anticipated.

Ashok Gupta, CMD, Ajnara India Ltd.

We are projecting infrastructural development as the core aim of the government for this Budget. Huge amount for infra development may be announced this year as well especially for developing regions of the country falling under AMRUT scheme. Apart from that, GST’s proper implementation, relief on income tax, more incentives for digital means of transacting and promoting REITs and InvITs might be amongst the highlights from the upcoming Budget. No direct benefits for the sector are expected at this time, as recent rate cuts and affordable housing incentives have already been announced by the government. We might only witness the Budget providing indirect benefits to this sector that will act as a catalyst in the long run.

Dhiraj Jain, Director, Mahagun Group

This Union Budget, policies for allied industries such as steel and cement needs to be standardised as it indirectly affects the cost of housing units. Also, tax deduction limit for housing loans of Rs. 2 lakh is quite less especially for major Tier 1 cities where ticket sizes cross 1 crore in several cases. This limit can be looked upon along with reduction in stamp duty charges to allow higher savings. Finally, changes in the tax slabs are pretty much on the cards that will allow young working class to look upto real estate as an avenue for investment or even residing.

Pradeep Aggarwal, Chairman, Signature Global

Union Budget 2017-18 is expected to bring cheer to the masses in the country. We have just witnessed banks reducing lending rates and the government also promoting affordable housing for EWS and LIG categories by providing special interest rate reductions. This year’s budget will focus upon improving infrastructure in the country in order to bring smaller regions into the limelight. Making changes in the income tax slabs will allow higher savings and better spending capacity for the public, thus allowing people to look at real estate as an attractive avenue for residing and investment purpose.

Ashwani Prakash, Executive Director, Paramount Group

This year’s budget might not offer much to the realty sector directly as the government has already been offering benefits and incentives during the course of year 2016. Last year itself, a lot has been delivered by the government for the budget housing segment and infrastructure of the country, and this year too infra segment might receive the biggest chunk. Although, single window clearance and industry status is an urgent need of this sector in order to provide the much needed impetus on a larger scale. With RERA and GST to become operational this year, it is imperative that single window clearance is announced across the country.

Vikas Bhasin, MD, Saya Group

For the real estate sector, government is already moving on the right track with timely announcements and policy implementations taking place at a decent pace. Post demonetisation and with the banks reducing lending rates, the government is leaving no stones unturned to achieve its target of Housing for all by 2022. It is important though to reach out to all the possible audience segments and not only the weaker sections of the society. Rebates on income tax, clarity over GST and RERA, easing norms for FDI, making route for REITs and InvITs easier and passage of the long awaited land acquisition bill should be in plan for the upcoming budget session 2017-18.

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Sector hails rate cut and affordable housing incentives

SECTOR HAILS RATE CUT AND AFFORDABLE HOUSING INCENTIVES

India 2 January 2017; As the final day of the previous calendar year arrived, entire nation was waiting for the late evening when our Honourable Prime Minister Narendra Modi was to address the nation. Since his address on 8th of November last year, when demonetisation of large currency was announced, everyone was under the impression of what new policy might get implemented on the New Year Eve of 2016. During the address, Prime Minister this time announced some New Year gifts for the public that received a cherry on the top when several leading banks in the country slashed its lending rates by almost 0.9 percent or 90 basis points.

Both the news now carry heavy weightage for the realty sector of our country which has high hopes from 2017. “Moving into 2017, it will be the year of affordable housing segment and now especially with the government announcing incentives for this segment’s prospective buyers and banks reducing lending rates, we will now witness more launches of affordable housing projects than any other segment in the realty sector of India”, believes Pradeep Aggarwal, Chairman, Signature Global.
During the address, two new housing schemes were announced citing the fact that there are still millions of people who don't own a property either due to affordability factor or high interest rates which subsequently increases the EMIs. For the urban poor, in 2017, a rebate of 4 percent and 3 percent would be provided on home loans upto Rs. 9 lakhs and Rs. 12 lakhs respectively. Also, for the new housing or extension of housing taken up on 2017, a rebate of 3 percent would be provided on home loans extending upto Rs. 2 lakhs. PM Modi further added that the number of houses being built  for the poor under the Pradhan Mantri Awaas Yojana (PMAY) in rural areas was being increased by 33 percent. “With announcements such as these, we are inching closer towards fulfilling the dream of building 2 crore affordable housing units for the urban poor by 2022. When lending rates are reduced, it allows the market to create fresh demand, and in this case, developers across the country will focus on developing affordable housing units which will be supported by reduced lending rates, and gladly accepted by the buyers”, explains Vikas Bhasin, MD, Saya Group.
Adding further, Kushagr Ansal, Director of Ansal Housing points out that, “Since the affordable housing and housing for all missions have come up, developer lobby across the country has shifted its gears towards developing budget houses majorly. Almost 50,000 units are getting ready to be delivered by 2022 in Gurgaon itself; and across the country, this number is multiplying at the rate of knots. This in the long run will allow the country to meet the demand against the shortage of budget homes and allow everyone to get a roof over their heads.”

Speaking about the announcement of banks reducing the lending rates, Pradeep Aggarwal adds, “Banks reducing the home loan rates by upto 90 basis points is in general a great news for the sector ahead of Union Budget 2017-18. Most of the people begin property purchase planning around the budget period so as to get clarity about their financial year ahead. This in turn will allow demand for housing to increase this year that will help the realty sector to gain momentum. Affordable housing segment will reap out the highest benefits as a result of extra cushion provided by the government’s recent decision.”

Several leading banks in India have cut down tremendously on the lending rates. For instance, State Bank of India (SBI), reduced its marginal cost of funds based lending rates (MCLR). For SBI, the new rates are 8 percent against 8.90 percent for one year loans, 8.10 percent and 8.15 percent respectively for two year and three year maturity. For other few banks, one year MCLR stand at 8.45 percent against 9.15 percent for Punjab National Bank (PNB), 8.65 percent against 9.30 percent for Union Bank of India (UBI) and 9.15 percent against 9.30 percent for IDBI Bank. Consequently, home loan borrowing has also come down drastically, signalling a boost to housing demand for near future. For example, women borrowers of SBI an avail home loan at 8.60 percent and 8.65 percent for others, thereby saving a decent amount on the EMIs.

“With the government’s announcement of rebate on lending rates along with the banks providing rate cut cushion to the public, affordable housing segment is the biggest gainer of all. Citing the example of the lowest rate in the market at present, 8.60 percent; affordable housing prospective buyers will be basically borrowing now at 4.60 percent or 5.60 percent for loans upto Rs. 9 lakhs and Rs. 12 lakhs respectively. EMIs for this category has fallen by almost 40 percent, which will enhance the demand for housing amongst the buyers”, elucidates Dhiraj Jain, Director, Mahagun Group.

“Its just the beginning of a rate cut cycle in India. Banks at present are carrying high volume of liquidity due to the 50 days of demonetisation. It was well forecasted that rate cuts will begin soon. RBI’s next policy review is due in February as well as the Union Budget 2017-18. Hopes are high for more rate cuts in near future which will further ease the pressure off the economy and allow greater spending. This high purchasing power will result in people opting real estate as an avenue for returns as well as residing, as even interest rates on deposits are decreasing, thus making them less lucrative. In a nutshell though, realty sector is on a track of growth well-supplemented by such initiatives”, concludes Rajesh Goyal, Vice President CREDAI-Western U.P. & MD, RG Group.

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Trupay welcomes cashless initiative launched by PM Narendra modi

Trupay welcomes UPI based payment APP BHIM launhced by PM

TRUPAY WELCOMES BHIM CASHLESS INITIATIVE LAUNCHED BY PM NARENDRA MODI

TERMS IT GAME CHANGER

New Delhi December 30, 2016  Trupay , the Unified Payment Interface (UPI) based payment APP has welcomed the launch of  Bharat Interface for Money (BHIM)  an initiative to enable fast, secure, reliable cashless payments through  mobile phone by Prime Minister Narendra Modi today.

BHIM is interoperable with other Unified Payment Interface (UPI) applications, and bank accounts. BHIM is developed by the National Payment Corporation of India (NPCI). BHIM is made in India and dedicated to the service of the nation.

"This will be a game changer for cashless payments in India. UPI is the most advanced payment system in the world. This will develop the overall payments ecosystem in the country."said Rahul Gochhwal,, CO Founder Trupay in a statement

Digital Payment App Trupay – a fintech startup founded by ex – IIM graduates Rahul Gochhwal, Vivek Lohcheb and Narender Kumar is among the first companies to offer a mobile payment application based on Unified Payment Interface (UPI).

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PM Modi’s First & Only Interview after the Demonetisation move: An India Today Exclusive

Demonetisation has seen decisive outcome: Modi

PM Modi’s First & Only Interview after the Demonetisation move: An India Today Exclusive

In his first and only interview after the November 8 demonetisation move, Prime Minister Narendra Modi has said that the exercise has achieved the goals it had set out—to attack corruption, black money, counterfeit notes, financing of terrorism and other activities threatening national security. “Decisive outcomes are clearly visible on all these fronts,” said the prime minister in an exclusive interaction with India Today Group Editorial Director (Publishing) Raj Chengappa.

“I was well aware of the magnitude and complexity of the challenge we faced in implementation. And I believe we have lived up to the same. It is no small thing that no significant incident of unrest has taken place in the country.”

The prime minister defended frequent and multiple changes in the notifications regarding the implementation of demonetization saying that there was a distinction between the government’s Niti (policy) and Ran-niti (execution strategy and tactics) and the two must not be put in the same basket. “The decision of demonetisation which reflects our Niti,is unequivocally clear, unwavering and categorical. Our Ran-niti however, needed to be different, aptly summarized by the age old saying of Tu Daal-Daal, Main Paat-Paat.”

Modi, who features on the cover of the latest issue of India Today as the “Newsmaker of the year” also came candid about the rationale and timing of this historic yet controversial decision to render nearly 86 per cent of the country’s currency invalid.  “We took the decision not for some short-term windfall gain, but for a long-term structural transformation. Our objective was to clean our economy and society of the menace of black money, purging the distrust, artificial pressures and other ills that came with it,” he said.

Quoting global economists such as James Henry, Kenneth Rogoff and Larry Summers and recommendations of the 1971 Wanchoo Committee, the prime minister averred that the decision to demonetize high value currencies was taken 40 years late. “This step was in fact a critical crisis avoidance measure, as, if we had delayed it any further, the problem and its corresponding correction would have magnified exponentially in size and complexity,” he said.

Countering the criticism that such a move was unwarranted when the economy was in good shape Modi said that the timing of it was a matter of common sense. “If India’s economy was weak, this decision could not have been made. It was consciously taken when the economy is in good shape, as such a sharp correction could have only been made then to fortify its foundations and give it a further boost.”

The prime minister also sought to allay fears that country was staring at a cash crisis, which was unlikely to end, even after December 30 deadline. “Regarding printing of notes, the planning and strategy was based on India’s usage and requirements of currency. Very few people know that as per RBI’s evaluation, a substantial part of the Rs 1,000 and Rs 500 notes printed never make it into everyday circulation, and are instead hoarded and stocked away. Furthermore, the common man now has access to a wide variety of alternate digital payment mechanisms ranging from Rupay cards to online wallets and USSD payments,” he said.

Commenting on the dichotomy between the fact that almost 90 per cent of the demonetized currencies have returned to the banks and the perception that Rs 3 lakh crore black money was in circulation and would be extinguished because of this exercise, the prime minister said that economists and not the government had floated such estimates. In fact the government wanted the black money, which was “hoarded and kept out of the regular transactional economy, by people storing them in suitcases and cupboards or under the mattress” to flow back to the banking system. “This has left behind a permanent financial trail. This changes the game as the black money that did not have an address till now, has been tagged with one.”

Modi also dismissed the Opposition’s allegation that the decision was a political move keeping an eye on the Assembly election in Uttar Pradesh. “On one hand they say I took this decision for political dividend, and on the other they say the people have been troubled and are deeply unhappy. How can the two go together?”

The prime minister indicated that the government would carry forward tax reforms reducing the scope of discretion for income tax department officials. “The Revenue Department is already building a system where the entire process of assessment is done on-line without any need for the assesse to appear before the officer… selection of cases for scrutiny will be based on objective evidence rather than the whims and fancies of officers. The aim is to ensure that the honest tax-payer is not harassed or inconvenienced, while the dishonest tax-evader is efficiently caught and punished.”

As the BJP-led NDA government has completed half of its five-year tenure, Modi envisaged his vision for India: “An India where the farmer is happy, the trader is prosperous, every woman is empowered and the youth gainfully employed. An India where every family has a house, and every household has access to the basic amenities of electricity, water and a toilet. An India which is Swachh from all forms of filth.”

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Demonetization: Immediate And Long-Term Impact On Real Estate

- Kishor Pate, CMD - Amit Enterprises Housing Ltd.

India 12 December 2016: PM Modi's surprise move to remove Rs. 500 and Rs. 1000 currency notes from legal use came as a shocker to all Indians. As of now, everyone is still inconvenienced, but all Indians also realize the greater good this move will accomplish in cleaning out black money from the economy. Crowds outside ATMs are already thinning out and life is gradually normalizing across Indian cities. However, the ones who will continue to be affected the most are obviously those who have been holding and transacting in large amounts of unaccounted cash. 

When considering the business sectors on which the demonetization move has greatest pertinence and effect, the real estate sector comes almost naturally to mind, and Indian real estate industry has historically seen a high incidence of cash transactions. However, the large-scale turmoil that many market pundits have been predicting is an exaggeration. The market is expecting a correction in the resale properties segment, which is very likely to happen. 

However, the primary sales market in the larger cities is not going to be affected, especially when it comes to strong, established developers. Prices have already stabilized in view of the situation prevailing prior to the demonetization move, and there is minimum chance of further correction – especially in low-end projects. High-end and luxury projects may see a correction to some extent.

Land transactions, which have historically been driven by cash, are taking a major hit and we can expect a correction of 20-30% in land valuations in the unorganized sector. Lower land costs in emerging areas and smaller cities will eventually result in lower cost of budget housing, as developers will assuredly pass on the benefit of these savings to their customers. Pricing is a critical factor in the current market environment, and no player will lose the chance to offer more benevolent price tags in order to secure business.

The full impact of demonetization will be more visible only after the next Union Budget is announced in February. The negative sentiment currently prevailing is likely to be negated to a large extent by some very positive announcements. We expect the Finance Minister to roll out special incentives for first-time home buyers in the budget properties category, and also a positive revision of income tax slabs – which will help reduce the financial burden on home buyers and increase purchasing power. 

With home ownership always being a priority investment objective for all Indians, this will have very positive implications for the residential real estate sector.

On the whole, the demonetization move is very good news for the health of the Indian real estate sector. The Real Estate Regulatory Bill (RERA) will be deployed across the country by mid-2017, and Maharashtra has recently put forth its own draft laws. Along with the impact that the demonetization move has had on India’s parallel ‘black economy’, we will see a lot of sanitization in the industry. 

The Indian real estate sector will now become more transparent, credible and attractive to all kinds of  serious investors, especially institutional investors. In the long term, we will see a much more holistic and healthy pattern of growth in the Indian real estate sector. The Government's many initiatives to render the Indian business environment more attractive for both domestic and foreign investments will definitely bear fruit. 

For end-users and investors, the current time is extremely favourable to make their move to secure the best real estate bargains. Smaller residential developers and investors will be more eager than ever before to offload their inventory so as to alleviate their liquidity woes to some extent. The salaried class which uses home loans to purchase properties will not face any problems at all because of the demonetization move. 

Since the above measures will serve to make the real estate sector more transparent and wholesome, future growth in the residential property sector will be steady and rational. Those who invest in residential real estate now can, therefore, look forward to very satisfactory long-term capital appreciation.

Also, to be noted - the slowdown induced by the demonetization move has nothing to do with the huge pent-up demand for housing in India. This is still very much intact and in fact growing at steady pace. The residential sector was in fact in revival mode shortly before this move, and though overall sentiment has now faced a new setback, this is strictly temporary. Fly-by-night developers get driven out and large players who have already made transparent transactions a standard will emerge stronger. Within the next 12-18 months, we will see a much more sustainable and robust real estate market emerging in India. 

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COAI thanks the Modi Government for allowing prepaid mobile users to continue top-up payments with old Rs 500 notes

 

·         With recharges for prepaid mobiles having fallen between 30% to 50%, 

usage extension for Rs500 notes till 15 December will help cash-strapped customers

·         As prepaid connections account for more than 90% of India’s mobile market, 

for consumer’s convenience dealers can continue accepting Rs500 notes to keep operations running

·         COAI thanks the government for acceding to their request and being a responsive and sensitive government

New Delhi, 28th November 2016. The Cellular Operators Association of India (COAI) thanks the Hon’ble Prime Minister Narendra Modi for the Government’s decision to permit the use of old Rs500 notes for prepaid mobile recharges. This will allow customers to use mobile services without disruption and ease their anxiety, allowing them continuous communication, telephony being an essential service. 

Commenting on the positive move, COAI Director General Rajan Mathews said: “We are delighted that the Government acceded to our request prioritising consumer interest, so that citizens can continue to top-up and use mobile phones, which are an essential service. COAI thanks the Prime Minister Shri Narendra Modi for leading an extremely responsive and sensitive government and congratulates the Prime Minister on this historic move. Despite initial teething problems, demonetisation will immensely benefit the nation by driving increased digital transactions, promoting transparency, boosting tax collection and ensuring social equity. COAI remains committed towards working closely with the government in furthering the government’s vision of a digitally connected and fully empowered India” 

Continuing the use of old Rs500 notes as legal tender for prepaid mobile services is crucial because industry estimates indicate between 30% and 50% fall in demand as customers are still struggling with less cash in hand due to demonetisation of Rs500 and Rs1,000 notes. Keeping people’s interests in mind, COAI on behalf of the telecom service providers had submitted to the government that dealers and distributors should be permitted to accept the old Rs500 and Rs1,000 notes till adequate replacement currency is available for the daily needs of ordinary citizens.  The department of Telecommunications notification has extended the deadline for the acceptance of 500 rupee notes as legal tender for recharging prepaid phones for top ups till December 15th, 2016.

Mr Rajan Mathews added: “Globally, empirical evidence reveals the ability to communicate instantly fosters a sense of empowerment among common people, which is imperative given the ongoing – though temporary – inconvenience customers are undergoing. It’s therefore important that mobile services for prepaid users continue unabated to facilitate their daily activities.”

COAI reiterates its support for Hon’ble Prime Minister Narendra Modi’s efforts to move the country towards becoming a ‘less cash’ society in order to curb corruption and black money, advancing social equity and financial inclusion among all sections of society. Such measures will increase the drive towards ‘Digital India’, benefitting every stakeholder, including the public. The telecom industry supports such endeavours that drive banking transactions towards mobile phones, reducing the cost per transaction for all stakeholders and benefitting banking eco-systems too. 

With the extension on usage of Rs500 notes in public utilities, including mobile recharge services, prepaid dealers can continue to accept these notes till 15 December. Since the prepaid segment accounts for more than 90% of India’s mobile market, the extension will help customers and dealers tremendously in continuing their daily operations. 

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On this Demonetization Move Lets Unite and Prohibit Dowry says Anuja Kapur

India 24 November 2016: In yet another surgical strike by PM Modi on the night of November 8 saw most of India sleepless. The move by PM Narendra  Modi to go after black money by declaring that currency denominations of Rs 500 and Rs 1,000 were rendered illegal. This move, known as currency demonetization, took everyone, including his cabinet, by surprise. It is the bold step taken by the PM to stop the black money and corruption at every level.

 Sugical strike on Demonetozation by the govt taking this as an opportunity Socialite and Advocate Anuja Kapur says, lets unite and fight back the most imp evil of society she request and please every citizen of India to combat dowry and help to promote the value of a woman as a substance rather than as a commodity to be used as a barter system in marriage. Lets make this demonetization move as an historic moment to achieve women empowerment in the correct sense. 

The move came as surprise to everyone and surely, common men are facing difficulties as banks and ATM’s are witnessing long queues to exchange their money. But PM and government assured the people that this is the temporary problem as the system will be back to normal within few days and the normal cash flow will prevail. Speaking on this issue Anuja Kapur said, “This is a temporary inconvenience and once we have the sufficient revenue in our banks there will not be any problem. We should not make hype about the black money and help others who are in need rather than throwing or burning our money. This is the time that we should support our PM to fight against the corruption and black money”.

However, the demonetization move of 1978 too was made to tackle the black money economy. In the year 1978, the Indian government demonetised Rs 1,000, Rs 5,000 and Rs 10,000 notes, which were quite substantial then. The move was executed under the High Denomination Bank Note (Demonetisation) Act, 1978.

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Mauritius to remain preferred source of FDI says Sir Jugnauth

India 21 November 2016: “The relations between India and Mauritius have always been very strong and I see no reason that it will be otherwise. It will be very strong we are doing everything to make it stronger,” Mauritius Prime Minister Sir Anerood Jugnauth told on a luncheon meet with business leaders organized by All India Association of Industries (AIAI) in association with Indo-Mauritius Chamber of Commerce and World Trade Centre, Mumbai.

The Initial treaty was the double taxation avoidance, it was helpful to both Mauritius as well as India because many investments were coming here through Mauritius. Even now, as negotiations are underway, Mauritius is hopeful of remaining the largest source of foreign Investments into India even under the new treaty, Mr. Jugnauth stressed.

The Prime Minister of the Island nation said economic and diplomatic ties between the two nations have been on an upswing and pointed out that there are already lots of investments by Indian people so he does not see any reason why it should not continue. Mr. Jugnauth, further said that they had no other option but to negotiate with India after the Indian government decided to put an end to the decades old treaty, however, we are still negotiating to have something new to replace it. The old treaty was obviously beneficial but to us and since it is not there we are losing the benefit that we were making as I said we had no other option.

On question Mr. Jugnauth replied about the impact of the abolition of the old treaty would have on the country’s economy, the Prime Minister said, “Mauritius is still having its financial centre which has not been affected to much extent and we are trying to diversify. We are also trying to make up for whatever loss the centre is facing. We have to live up to reality (abolition of the treaty), we can’t do otherwise.” Mr. Jugnauth said the country is trying to diversity and at the same time negotiating for new treaty.

“We have already said it to Prime Minister Mr. Narendra Modi that it (the new treaty) should not be less favourable than the treaty that India would be making with other countries which they used to have the treaty before Jugnauth said, addition, “India would do everything not to make us lose therefore we are still negotiating. I can’t say what will be the final result.”

As per the protocol, India would be taxing on capital gains arising from sale/transfer of shares acquired on or after April 1, 2017. The protocol protects investments in shares acquired before 1st April, 2017, that is existing investments made before 1st April, 2017 have been grandfathered and will not be subject to capital gains taxation in April next, Mr. Jugnauth added.

According to statistics, foreign Investments in India from Mauritius has been around 33 per cent since 2000 and in FY 2016, it was 21 per cent. The foreign funds owned over 28 per cent in the Sensex and Nifty stocks.

Mauritius Prime Minister Mr. Jugnauth said that the government was offering various incentives for film industry to promote, as we have all the infrastructure and one of the best locations to use Mauritius for producing films.

Mr. Vijay G. Kalantri, President – All India Association of Industries (AIAI) in his welcome address said that various taxes, holidays and investments for global corporation, film development for giving boost to SME Sector in the recent budget by financial services and also to specially encourage excellent idea on the Pharmaceutical Sector in order to export to African market.

Mr. Kalantri said that besides this, the Second Sector which Mauritius envisages to develop is the gold sector which India already has enough capabilities in terms of designs and workmanship. This will encompass a wide spectrum of high value-added activities, ranging from refinery of gold, producing gold bars, setting up top end jewellery processing units, vault facilities and to trading of gold and bullions on the new commodity exchange. The exchange is also supposed to facilitate trade in diamond and other precious metals.

In the automotive sector, and Indian Delegates has already visited Mauritius and has expressed an interest in setting up several manufacturing projects in Mauritius, one of which is the production of bicycles and motorcycles. This project aims mainly at exports to the African market and has the potential for creating a significant number of jobs, Mr. Kalantri added.

The meeting was attended by various Industrialists, Bankers, Mrs. K. Napaul - Consul General of Mauritius, Lady Sarojini Jugnauth - Spouse of Rt Hon’ble Prime Minister of Mauritius, Cabinet Chief - Mr. Medha Gunputh and others.

Caption for Photo- 

Hon’ble Prime Minister of Mauritius the Rt. Hon. Sir Anerood Jugnauth GCSK, KCMG, QC being felicitated by Mr. Vijay Kalantri, President, All India Association of Industries at the luncheon meeting organized in honor of the Hon’ble Prime Minister of Mauritius on 20, November, 2016 in Mumbai. 

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Hon’ble PM Shri Narendra Modi visits Serum Institute

~ Appreciates Adar Poonawalla Clean City Initiative 


Pune, November 14, 2016: Hon’ble Prime Minister Shri Narendra Modi visited Serum Institute of India Pvt Ltd, one of the world’s largest vaccine manufacturers and appreciated all efforts undertaken as part of ‘Adar Poonawalla Clean City Initiative’ for Swachh Bharat Mission. Some of the other dignitaries who graced the occasion were Hon’ble Chief Minister of Maharashtra Shri Devendra Fadnavis, Former Agriculture Minister Shri Sharad Pawar, Hon’ble Union Human Resource Development Minister Prakash Jawadekar and Hon’ble Governor of Maharashtra Shri Vidyasagar Rao. 

Mr Adar Poonawalla, CEO, Serum Institute of India, said, “We are honoured and priviledged to have hosted Hon’ble Prime Minister Shri Narendra Modi during his recent visit to our facility. The Hon’ble Prime Minister stressed that more companies should come forward to produce such vaccines so that poor children could be protected from diseases. We further briefed him on our Clean City Initiative. He was impressed and said that it was a good initiative under the Swachh Bharat Mission.”  

With an investment of Rs.100 crore as CSR funding from Serum Institute of India and Mr. Adar Poonawalla, this initiative promotes idea of clean city. The initiative has been successfully implemented through scientifically collecting and removing garbage from city streets.


Serum Institute of India Pvt. Ltd. is the world's largest vaccine manufacturer in number of doses manufactured and supplied to more than 140 countries. The vaccines include Diphtheria, Tetanus, Pertussis, Hib, BCG, r-Hepatitis B, Measles, Mumps, Rubella, Meningitis A, Influenza and Polio vaccines. One of every two children born in the world receive a vaccine manufactured by Serum Institute. Serum Institute has established the most modern laboratories with high-tech machinery and computerized equipment for the production and testing of its life saving biologicals. Serum Institute's commitment to global health is exemplified by significant investments in its infrastructure. The production facilities are continuously upgraded to ensure compliance with cGMP regulations and have been accredited by the World Health Organization, Geneva.

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Quote | Dipak Gupta, Joint Managing Director, Kotak Mahindra | Announcement on demonetization of Rs 500 and 1000 currency notes

Quote | Dipak Gupta, Joint Managing Director, Kotak Mahindra | Announcement on demonetization of Rs 500 and 1000 currency notes

India 9 November 2016: “This is a path-breaking move by the Prime Minister Narendra Modi to eradicate black money from the economy and mitigate the counterfeit money problem, both of which will do good to the Indian economy over time. Customers need not worry about their money at all, they have sufficient time to exchange their old Rs. 500 & Rs. 1000 denomination notes. While they may face some inconvenience for the next few days, their money in the bank remains absolutely safe. We are working to ensure minimal inconvenience to customers until money supply gets fully normalised. This move will usher in a cultural change in payments as people will adopt digital banking faster. We should also see  a surge in activation of new bank account and debit  and credit cards usage.”

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Bollywood star Aishwarya Rai and India’s leading singers to felicitate Clean India champions at India Today Safaigiri Awards 2106

Leading artists – Mika Singh, Adnan Sami, Sukhwinder Singh, Kailash Kher, Shalmali Kholgade, Shilpa Rao, Rekha Bhardwaj, Hans Raj Hans & Himesh Reshammiya to spread the message of Safaigiri

New Delhi 30th September, 2016 - The India Today Group announces the 2nd edition of the “India Today Safaigiri Awards 2016” - a platform that will showcase and felicitate the pioneering efforts of those who are leading the change in cleanliness. This is in continuation to the first edition that was launched in 2015, one year after Prime Minister Narendra Modi nominated Mr. Aroon Purie, Chairman and Editor in Chief, India Today Group to be a Clean India advocate.

The event will be held on 2nd October, the second anniversary of the Swachh Bharat Abhiyaan launch and the birth anniversary of Mahatma Gandhi. India Today Safaigiri Awards & Singathon will be a daylong event and will get musicians together to celebrate the SAFAIGIRI movement. The biggest names in music will come together to spread the “SAFAI KI DHUN”.                                                                                        

Bollywood actor Aishwarya Rai & M. Venkaiah Naidu, Union Minister of Urban Development, Housing and Urban Poverty Alleviation and Information & Broadcasting will be the key note speakers at the India Today Safarigiri Awards. They will also be presenting the awards to the Clean India Champions.


The event will be highlighted by the Safai Singathon with singers performing throughout the day. The singers attending the daylong event include – Mika Singh, Adnan Sami, Sukhwinder Singh, Kailash Kher,  Shalmali Kholgade, Shilpa Rao, Rekha Bhardwaj, Hans Raj Hans & Himesh Reshammiya.

The winners are selected across categories through a process of online entries, field work, and selection by a jury of eminent citizens. The jury members include Mr. Aroon Purie, Chairman and Editor-in-Chief, India Today Group, Mr. Chetan Bhagat, Indian author, Mr. Rajeev Chandrasekhar, MP, Ms. Vidya Balan, Actor, Mr. Vinayak Chatterjee, Chairman, Feedback Infrastructure Services Pvt. Ltd, Mr. Bindeswar Pathak, Founder, Sulabh International and Mr. Rajiv B Lall, Managing Director & Vice Chairman of Infrastructure Development Finance Company (IDFC).

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Vice Chairman Jay Y. Lee meets Prime Minister Shri Narendra Modi, visit underscores importance of India as a Strategic Partner for Samsung

Photo Caption: Mr. Jay Y. Lee, Vice Chairman, Samsung Electronics Co., Ltd., met Prime Minister Shri Narendra Modi at his office in New Delhi on Thursday. Mr Lee told the Prime Minister that Samsung continues to view India as an important strategic partner, and will actively participate in Government initiatives such as ‘Make in India’ and ‘Digital India’, with a commitment to growing India as an important production base and R&D hub. He said Samsung’s ultimate goal is to be not just a foreign investor but a true local business in India, where it will work with local communities to build a better future.
 Mumbai, September 16th, 2016: Samsung Electronics Co., Ltd. Vice Chairman Mr Jay Y. Lee today met India’s Prime Minister Shri Narendra Modi in New Delhi and reiterated Samsung’s long-term commitment to the people of India as a strategic partner.

Vice Chairman Lee apprised the Hon’ble Prime Minister of Samsung’s business operations and citizenship activities in the country. He explained how Samsung is actively partnering Prime Minister Modi’s ‘Make in India’ and ‘Digital India’ initiatives, with a commitment to growing India as an important production base and central R&D hub, as Samsung continues to view India as an important strategic partner.

He said Samsung’s ultimate goal is to be not just a foreign investor but a true local business in India, where Samsung will work with local communities to build a better future. Besides Make in India, Samsung is also committed to ‘Make for India’, an initiative to create meaningful local innovations for the Indian consumers.

In India, 'Samsung Smart Class’ program is helping over 200,000 students from low income families to experience e-learning at 376 Jawahar Navodaya Vidyalaya schools. In addition, 18 Samsung Technical Schools are imparting skills to youth to enable their employability.

About Samsung Electronics Co., Ltd

Samsung Electronics Co., Ltd. inspires the world and shapes the future with transformative ideas and technologies. The company is redefining the worlds of TVs, smartphones, wearable devices, tablets, cameras, digital appliances, printers, medical equipment, network systems, and semiconductor and LED solutions. For the latest news, please visit the Samsung Newsroom at news.samsung.com.

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Shri J P Nadda commemorates a decade of Integrated Food Law in the country

Provisions of safe food should become a part of our ingrained culture: J P Nadda

FSSAI announces 10@10 initiatives

Photo 1 – Lighting of the Lamp - Shri J P Nadda, Honourable Union Minister of Health & Family Welfare,  Shri C K Mishra, Secretary, Ministry of Health & Family Welfare, Shri Pawan Agarwal, CEO, Food Safety & Standards Authority of India(FSSAI), Shri Ashish Bahuguna, Chairperson, FSSAI

Photo 2 – Unveiling the Coffee Table Book – Shri Shri J P Nadda, Honourable Union Minister of Health & Family Welfare,  Shri C K Mishra, Secretary, Ministry of Health & Family Welfare, Shri Pawan Agarwal, CEO, Food Safety & Standards Authority of India(FSSAI), Shri Ashish Bahuguna, Chairperson, FSSAI, Shri Faggan Singh Kulaste, MoS of Health  & Family Welfare


New Delhi, Aug 22/23, 2016:  Commemorating a decade of integrated food law in the country, and marking ten years of Food Safety and Standards Authority of India (FSSAI), Prime Minister Shri Narendra Modi in his congratulatory message underscored the ‘need for the Authority to focus on empowering the consumers so that the manufacturers and suppliers of food products become responsive to consumer needs, demands and expectations.’ He further added that ‘safe an, wholesome and hygienic food will create a ‘Swasth Bharat’. And this has to be cornerstone of the efforts of FSSAI.’

Speaking at the function organised by FSSAI to commemorate 10 years of the enactment of Food Safety and Standard Act (FSSAI Act), here recently, Shri J P Nadda, Union Minister of Health and Family Welfare, stated that “Food safety is a very important health and economic issue. It has high employment potential, can boost exports of agro-products out of the country, and also provide better returns to farmers for their produce. Provisions of safe food should become a part of ingrained culture in our country.” He further added that the FSSAI Act is a paradigm shift from regulatory regime under the provisions of Food Adulteration Act to self-regulatory and facilitatory regime. “Now, basic ground work is done. We are ready for big leap forward,” Shri Nadda said. Shri C K Mishra, Health Secretary, Government of India was the Special Guest on this occasion.

Shri Nadda appreciated the unrelenting efforts of FSSAI towards food safety in India. In his address, he emphasized upon ‘two-way communication’ between the food businesses and the regulator. He advised that the Authority should be fully aware of the need and concerns of small food businesses as well in its work of standard formulation and compliance. He further added that during the last 10 years, considerable ground has been covered in terms of achieving the goals of laying down scientific standards and regulating the manufacturing, storage, distribution, sale and import of food items for the people of India. FSSAI stands for trust and compliance and the synergy between the industry and the authority will ensure that this trust is well placed.”

On this occasion, the Union Health Minister also released the special commemorative volume – a compilation of the history and over fifty invited articles from the scientists, experts, industry people and consumer organizations. Shri C K Mishra, Union Health Secretary also addressed the audience with inspiring messages on the need for collaborative efforts towards setting up of food standards and its implementation strategies.

In his opening address, Shri Ashish Bahuguna, Chairperson, FSSAI said, “One of the most significant provisions of the formation of FSSAI was for setting national benchmarks, regulations and guiding principles for Food Safety and Nutrition. We have completed 10 formative years of this act and are now striving to work towards a collective approach for building safe food culture in India because Food Safety cannot be ensured by enforcement alone.”

Commemorating this milestone, FSSAI also announced 10@10 – 10th anniversary with 10 initiatives. The primary focus of the 10@10 initiative is to engage with stakeholders and consumers to create food safety culture in the country. This bouquet of 10 initiatives focused on safe and nutritious food at home, school, workplace, religious places, in trains and railway stations, in restaurants and other places. The event also saw launch of Food Safety Display Boards that would help to connect the consumers directly to food safety officers. Under the Corporates4FoodSafety initiative, the corporates committed themselves to collaborate, educate and inspire other stakeholders towards food safety as responsible food businesses.

Referring to the 10@10 initiatives, CEO, FSSAI, Shri Pawan Agarwal said that all these initiatives have been developed collaboratively over the past few months along with other stakeholders and partners. He informed that States would be facilitated to implement them on pilot basis over the next few months and thereafter national roll out of these initiatives would be done possibly by next year. He also referred to other initiatives of the FSSAI such as on national milk quality survey, food fortification, farm to trade - bridging the standards divide, rediscovering the rich culinary heritage of India, standards for organic food, eLearning Portal and simplification of registration and licensing regulations.

There were two panel discussions prior to the main event. One on “Food Safety in unorganized sector – Challenges & Opportunities” focused around mass training programme for small and petty food businesses like street food vendors, fruits and vegetable vendors and other in partnership with Skill India and sustaining these efforts with corporate participation. The second panel discussion on “Food Safety a shared responsibility” dealt with need for taking joint responsibility by all stakeholders in assuring food safety.

Also present at the function were members of the food sector fraternity including the science community, industry - big corporates as well as small and medium food businesses represented by their associations, consumer and citizen organizations, international organizations and foreign missions, experts and government officials from Central ministries and States and other key stakeholders.

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Indian Embassy, Accelerate Korea, Association of IIT Alumni Korea(IITAK) among others to support Tomorrow’s India Global Summit at Seoul

 

25 companies from Singapore to participate at the TI Global Summit

New Delhi, 8th August 2016: Tomorrow’s India Global Summit, an initiative by the Global Social India Foundation announced that the Embassy of India in the Republic of Korea has offered its support during the five-day event in Seoul from 25-29 September. His excellency Shri Vikram Kumar Doraiswami, Indian Ambassador to Republic of Korea said “An initiative such as Tomorrow’s India Global Summit will have value of all entities interested in enhancing the bilateral partnership, I appreciate the vision of promoting the bilateral and plurilateral business, cultural exchanges as well as information sharing, especially in terms of India-Korea partnership. I wish the organizers every success in convening the second edition”. 

Other eminent bodies including Accelerate Korea, Association of IIT Alumni Korea will also be supporting the upcoming Tomorrow’s India Global Summit. Around 25 companies from Singapore in the field of design, creative media, financial services and smart cities will be participating at the summit.

Speaking on this Mr. H.P Singh, M.D & Founder Tomorrow’s India Global Summit said “We are happy, that our global initiative has been appreciated and supported by Embassy of India in the Republic of Korea. We are also thankful to our other partners including Accelerate Korea and Association of IIT Alumni Korea (IITAK). We are obliged with this gesture.” He further added “Last year on the Independence day, our Prime Minister’s Sh. Narendra Modi ji, introduced the Start-up India, Stand Up India' initiative. We are just taking that initiative to the next level globally. Tomorrow’s India is a platform which offers expansion and investment opportunities for Indian start-up community, MSMEs and corporate businesses, it also helps students and educationists to learn, adapt and discover the global education system”.

The agenda for the summit includes panel discussions, sector specific company presentations, case study by various global conglomerates and networking dinners for the business delegates. For students, University visits will be organized on second and third day of the summit.  To create an aura of cross-exchange enactment, a cultural show OORJA has also been organized in form of a cultural fusion from India, Korea and Singapore. 

ABOUT TOMORROW’S INDIA 

Tomorrows India is a global initiative showcasing India’s entrepreneurial strength and academic excellence within a cultural framework. The program aims to bring an integrated approach, focussed on developing international inter-country collaborations in the fields of business, culture, and education. It’s a vision to create immense opportunities with economies around the world and identify emerging trends within India for the participating countries. Ultimately, Tomorrow’s India is the premier gateway to and for India through the exchange of knowledge and culture - a gateway that builds bridges across nations. 

The program was launched by Global Social India Foundation (GSIF) on January 24, 2016 in Singapore and brought together experts from diverse sectors of the industry, registered group of entrepreneurs, head honchos and corporate gurus, turning successful in showcasing India's might - globally.

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