India Global Week 2020 to be held in London

On July 9, 2020, Prime Minister Narendra Modi is to address the India Global Week 2020. The event is to be held in London. From UK, Prince Charles is to address the event.

Highlights

The forum is to focus on India’s trade and foreign investment processes. It will bring together global leaders to discuss aspects relating to opportunities in India. More than 250 senior business and strategic expert speakers are to address the event to more than 5000 audience over the course of the summit.

The summit is to be attended by External Affairs Minister Jaishankar, Union Railway Minister Piyush Goyal, IT Minister Ravi Shankar Prasad, Urban Affairs Minister Hardeep Singh Puri.

Apart from talks, a series of India-UK bilateral ties are being scheduled to cover Australia, US, Japan and Singapore.

Significance

The event will help in improving Invest India programme of the country. India has recently been reviewing 50 investment proposals from China under its new screening policy. This is being done under the new rules.

New rules

India also announced new investment rules in April 2020. Under the new rules, all the investments by the entities based in neighbouring countries have to be approved by Indian Government. This was introduced to curb opportunistic takeovers during COVID-19 period.

Therefore, at this point of time, it is important for India to bring in new investment opportunities. Also, India is opening Jammu and Kashmir region for new investments after abrogation of Article 370. The Jammu and Kashmir administration is also participating in the event. India is also trying to develop north east and is inviting investments in the region.

Month: Current Affairs - July, 2020