Published By : Admin |
November 20, 2014 | 23:02 IST
Share
The Cabinet, chaired by the Prime Minister Shri Narendra Modi, today approved signing and ratifying the SAARC Regional Railways Agreement by India, as a member State of SAARC.
SAARC region is considered one of the least networked regions in terms of physical and soft connectivity leading to high costs and low volumes of trade recognizing which the leaders of the SAARC countries agreed that better transport infrastructure and linkages among the SAARC countries was necessary. A study viz. the SAARC Regional Multi Modal Transport Study (SRMTS) of 2005 undertaken by SAARC Secretariat had recommended multilateral agreements permitting free movement of people, goods and services within SAARC region in the Road and Rail sector and this was endorsed by the SAARC countries in the Summit level and Transport Ministers meetings. Accordingly, the Regional Rail Agreement (RRA) was drafted by India for SAARC countries in 2008. Since then, the draft Agreement has been discussed in the three meetings of the Expert Group on Regional Rail Agreement and in the meetings of Inter-Governmental Group on Transport (IGGT) and the text of the Agreement proposed now for signature was finalized in the 5th IGGT held in New Delhi on 30th September, 2014.
The SAARC Regional Railways Agreement will strengthen transport connectivity in the SAARC Region. Strengthened rail and transport connectivity will not only provide stimulus to the economic development in the region as a whole but also promote social and cultural contact and encourage tourism amongst the Member States. The Regional Rail Agreement will also enable low cost, energy efficient and environmentally sustainable transportation in the SAARC region and provide trade and economic links for the land locked countries and semi isolated regions.
India has been under the international spotlight this week, with significant developments in diplomacy, economic growth, technological advancement, and cultural recognition. From pivotal diplomatic visits to groundbreaking achievements in defense and technology, India’s story has been one of progress and influence on the world stage.
Diplomatic Triumphs
One of the focal points of this week was the achievements of PM Narendra Modi’s visit to Kuwait on Dec 21-22, the first bilateral prime ministerial visit to the Gulf nation in 43 years. The world sees the visit PM Narendra Modi’s strategic move to strengthen ties in a region undergoing significant transitions. It not only closes a crucial gap in India’s diplomacy with the Gulf but also signals the nation’s proactive stance in navigating the complex geopolitics of West Asia.
Economic and Technological Advances
In the realm of finance and technology, India has made headlines by surpassing China to top the Asian IPO rankings. According to data from Dealogic for 2024, India is poised to become the world’s second-largest equity fundraising market, a testament to the robust investor confidence in the Indian market. This achievement reflects India’s economic resilience and growth potential.
India has also taken significant steps towards semiconductor self-reliance. The initiation of construction for semiconductor fabrication and packaging units marks a promising start in the nation’s quest to carve a niche in the global semiconductor industry. Read more about this here.
Additionally, India’s maritime sector is set for a transformation, with an investment of $10 billion over the next 25 years to make India one of the world’s top shipbuilding nations. This development not only aims at bolstering India’s maritime capabilities but also positions it as a key player in the global maritime industry.
Defense and Strategic Developments
India’s strides in defense technology have also been a topic of global conversation. The successful test of a hypersonic missile places India among an elite group of nations with such capabilities, enhancing its strategic posture in regional geopolitics. This advancement underlines India’s growing military prowess.
Adding to the narrative of self-reliance, Prime Minister Modi’s push for domestic production of defense equipment, including the K9 Vajra-T artillery platforms, has been highlighted. This initiative not only boosts the ‘Make in India’ campaign but also fortifies national security through indigenous innovation.
Cultural and Leadership Recognition
In the cultural sphere, the influence of Indian cinema was acknowledged with tributes to Shyam Benegal, an influential director known for his contributions to India’s ‘parallel cinema.’ Benegal’s work from the 1970s, which challenged mainstream Bollywood by focussing on social issues, has been celebrated, reflecting India’s rich cultural fabric on the international stage.
Moreover, the week saw accolades for Indian-origin individuals in leadership roles abroad. Nirav Patel’s appointment as CEO of Mastech Digital in the US stands out, highlighting the global recognition of Indian talent in tech and business leadership.
Religious Freedom and Vision for the Future
The discourse on India’s democratic ethos was enriched by statements from figures like Mary Millben, who praised India’s commitment to religious freedom as a hallmark of its democracy. Such endorsements bolster India’s image as a pluralistic society.
India’s goal of Viksit Bharat by 2047 as envisioned by PM Modi has received endorsement from Indermit Gill, chief economist at World Bank. Complementing PM Modi on his vision, Gill believes that India will see its prime potential over the next two decades. Read more about India’s future prospects here.
The week has painted a picture of India as a nation on the move, not just in terms of economic metrics but also in cultural, technological, and diplomatic arenas. The global coverage reflects a growing recognition of India’s multifaceted development and its increasing influence on the world stage.
From the Gulf’s diplomatic corridors to the cutting-edge labs of defense technology, from the boardrooms of American companies to the cultural dialogues of cinema, India’s story this week has been one of global engagement, innovation, and leadership.
