rawan239

GIFT City (Gujarat International Finance Tec-City), India’s premier international financial centre

Banking and payment systems

Insurance

Capital markets

The Financial Market Dialogue between India and the United Kingdom was conducted virtually.

Highlights:

Union Minister ofPorts, Shipping andWaterways(MoPSW) and Ayush,Sarbananda Sonowallaunched the ‘Sagar Samriddhi‘ the online dredging monitoring system in order to amp up ‘Waste to Wealth’ initiative of theMinistryin Delhi.

As per the Ministry of Ports, Shipping and Waterways, “This system has been developed by National Technology Centre for Ports, Waterways and Coasts (NTCPWC) the technological arm of MoPSW. The new technology brings marked improvement against the old system of the Draft and Loading Monitor (DLM) system.

“The system will bring in synergy among multiple input reports like daily dredging reports, and the pre and post-dredging survey data before processing and producing real-time dredging reports,” they added.

The prevalence of diabetes in India is 11.4 per cent, while 35.5 per cent and 15.3 per cent of people suffer from hypertension and prediabetes respectively, according to the findings of a nationwide survey published in The Lancet Diabetes & Endocrinology journal.

The largest epidemiological study on diabetes and non-communicable diseases (NCD) estimates that in 2021, there were 101 million people with diabetes in India, 136 million with prediabetes, and 315 million had high blood pressure.

The study, conducted by the Madras Diabetes Research Foundation (MDRF) in collaboration with the Indian Council of Medical Research (Icmr) and funded by the Ministry of Health and Family Welfare, also found that the prevalence of generalised obesity and abdominal obesity in India stood at 28.6 and 39.5 per cent, respectively.

The estimate shows that 254 million people in India had generalised obesity, and 351 million had abdominal obesity in 2021.

In 2017, the team found that the prevalence of diabetes in India was around 7.5 per cent, meaning there has been an increase of over 50 per cent in the burden since then.

Among the states, Goa (26.4 per cent) had the highest prevalence of diabetes andUttar Pradesh(4.8 per cent) had the lowest, while (31.3 per cent) and Mizoram (6.8 per cent) had the highest and lowest burden of prediabetes.
Punjab (51.8 per cent) had the highest prevalence of hypertension while Meghalaya (24.3 per cent) had the highest burden, the researchers said.

The United States and Britain announced a new strategic pact as their leaders rededicated the “special relationship” to counter Russia, China and economic instability.

An “Atlantic Declaration” adopted by the leaders aims to boost ties on defense and RENEWABLE ENERGY, in the face of growing competition from China.

On Ukraine, the US and UK governments are moving closer to offering advanced fighter jets to help Kyiv counter the Russian invasion.

Cyclone Biparjoy, expected to cross theGujaratcoast on June 15, is on course to become the cyclone with the longest lifespan in theArabian Sea, according to the India Meteorological Department (IMD) data.

It will also be the third cyclone to hit the western state in June since 1965,”Based on data from 1965 to 2022 for the month of June, 13 Cyclones developed over the Arabian Sea.

Of these, two crossed the Gujarat coast, one Maharashtra, one Pakistan coast, three Oman-Yemen coasts and six weakened over the sea.

The life period ofCyclone Biparjoy, which developed over the southeast Arabian Sea at 5.30 am on June 6, is about seven days and 12 hours so far.

The extremely severeCyclone Kyarrof 2019 over the Arabian Sea had a life of 9 days and 15 hours. It developed over the east-central Arabian Sea, had multiple recurvatures and weakened over the southwest Arabian Sea.

Foreign direct (FDI) inflows into India rose 9.8% to a record $81.7 billion in 2020-21 on a gross basis on the back of record investment into companies such asReliance Jio.
Fresh Equity inflows are estimated to have increased by an impressive 19% to $59.6 billion, while reinvested earnings went up 14% to $16.2 billion.

Singapore was the top source, which is now followed by the United States with Mauritius once the dominant source of FDI due to tax benefits under the tax avoidance treaty pushed to the third spot.

In terms of Growth, inflows from Saudi Arabia. jumped from $90 million in 2019-20 to $2.8 billion last year. And with E-Commerce and IT being the major draw for overseas investors looking to tap into the India consumption story, computer Software and hardware emerged as the most attractive sector to invest, cornering nearly 44% of the FDI equity inflows. Next was construction (Infrastructure), which accounted for a 13% share. Among the states it was Gujarat that was the top recipient, according to the Centres data, accounting for 37% of the inflows, followed byMaharashtra(27%) and Karnataka (13%).

The government has been seeking to bolster FDI especially in the manufacturing sector and some of the investments are related to companies such asApples vendors andSamsungpumping in funds to set up bigger production facilities for mobiles and electronics goods.

The government has identified close to 1,000 companies and is working withInvest Indiato tap companies that are seeking to diversify their production bases.

Shri Parshottam Rupala, the Union Minister of , Animal Husbandry & Dairying, launched two significant initiatives: the Animal Pandemic Preparedness Initiative (APPI) and the Animal Health System Support for One Health (AHSSOH) project, which is funded by the World Bank. The launch event will take place at the India Habitat Center in New Delhi and will be held under the National One Health Mission

The Department of Animal Husbandry and Dairying has partnered with the World Bank on a collaborative project called the Animal Health System Support for One Health (AHSSOH), which aims to establish an ecosystem for better animal health management through the One Health approach.

The project will be carried out in five states and will focus on enhancing the capacity building of stakeholders involved in animal health and disease management. It also calls for the participation of the Human Health, Forest and Environment Department at the national, regional, and local levels to create and strengthen the One Health architecture, including community engagement.

Prime Minister Narendra Modi launched Rajasthans first Vande Bharat Express train via video conferencing, which is the 15th such train in the country. The prime minister emphasized that the Vande Bharat Express symbolizes development, modernity, self-reliance, and stability, enriching the spirit of India First, Always First. He also mentioned that the train will greatly benefit Rajasthans tourism

Modi highlighted that this was the sixth Vande Bharat Express launched in the past two months, and that in the past, the modernization of the railways had been hindered by selfish and corrupt politics. Large-scale Corruption had prevented the railways from developing and had made the selection process non-transparent, he added

According to a report by the Association for Democratic Reforms (ADR), out of the 28 state chief ministers and two union territories, 29 of them are millionaires in India. Jagan Mohan Reddy from Andhra Pradesh is the richest among them with assets worth 510 crore, while Mamata Banerjee, the Chief Minister of West Bengal, has the lowest assets worth around 15 lakh. The report also noted that Jammu and Kashmir, which is a Union Territory, does not have a chief minister at present. Out of the 30 CMs analyzed, 29 (97 percent) are crorepatis with the Average assets being 33.96 crore for every CM, the ADR said. Out of the 30 CMs analyzed, 29 (97 percent) are crorepatis with the average assets being 33.96 crore for every CM, the ADR said

The top three chief ministers in terms of assets are Andhra Pradeshs Jagan Mohan Reddy (over 510 crore), Arunachal Pradeshs Pema Khandu (over 163 crore), and Odishas Naveen Patnaik (over 63 crore), according to the ADR

The Philippines and the United States have launched their largest-ever joint military exercises, called Balikatan, involving nearly 18,000 troops to counter Chinas growing assertiveness in the region. The annual drills, which include a live-fire exercise in the South China Sea, are being held for the first time under President Ferdinand Marcos, who seeks to strengthen ties with the US. The maneuvers include military helicopters landing on the Philippine island of Luzon and the retaking of an island by amphibious forces

The exercises follow Chinas three-day military exercise, which simulated targeted strikes and a blockade of Taiwan, which Beijing considers part of its territory. While the joint news conference did not address questions about the Taiwan tensions, U.S. troops will be allowed to use four Philippine military bases under the agreement, including a naval base near Taiwan