Daily News - Monday, 23 December 2024
India, Japan set to finalise bullet train design (The Economic Times)
India and Japan are finalizing the bullet train design for the Mumbai-Ahmedabad High-Speed Rail (MAHSR) Corridor, adapting Japan’s Shinkansen trains for Indian conditions, including enhanced luggage capacity, dust resistance, and operation in temperatures above 50°C. Over 50% of civil work is complete, with 60 km of rails laid, and the Integral Coach Factory (ICF) and BEML are set to deliver domestically manufactured bullet trains by 2026 at a total project cost of ₹866.87 crore, with each coach priced at ₹27.86 crore. These trains, capable of speeds up to 280 kmph, will feature modern amenities like rotatable seats, onboard infotainment, and accessibility for passengers with mobility restrictions.
India will play a key role in NTT's strategy in APAC: CEO (The Economic Times)
Japanese tech firm NTT Data is expanding its Indian operations, leveraging the country’s rapid economic growth and booming digital economy as a cornerstone of its Asia-Pacific strategy, with over 40,000 employees already based in India. Driven by rising demand for data centres in cities like Bengaluru and Hyderabad, fueled by hyperscalers, enterprise workloads, and GenAI adoption, NTT plans further workforce expansion and investment in cloud services. Additionally, NTT collaborates with premier institutions like IITs for R&D, innovation projects, and startup incubators, underlining its commitment to India’s evolving digital landscape.
India, Kuwait elevate ties to strategic partnership during Modi visit (mint)
India and Kuwait elevated their relationship to a strategic partnership, signing key agreements in defence, including collaboration on defence industries, joint exercises, and R&D, alongside MoUs in sports, culture, and solar energy. Prime Minister Modi, during meetings with Kuwait’s leadership, emphasized bolstering ties in trade, investment, energy, IT, fintech, and infrastructure while expressing gratitude for the welfare of over one million Indians in Kuwait. Through Kuwait’s GCC presidency, India seeks enhanced regional cooperation, reflecting the shared optimism for deepened bilateral and multilateral engagements.
UP govt to launch new export policy to push its trade share (mint)
The Uttar Pradesh government plans to release a new export policy (2025-30) to boost its share in India’s exports from 4.7% ($20.67 billion in FY24) to 7.5% by focusing on key sectors like electrical machinery, farm produce, and textiles. With India’s FY24 total exports at $776.68 billion and UP’s exports rising to $10.56 billion (4.89%) in the first half of FY25, the policy aims to stimulate economic growth, create jobs, and generate revenue, supported by expanding infrastructure, including new airports and expressways. The state also ranks fifth in GST collections, surpassing ₹1 trillion in FY24, and aspires to contribute to achieving a $1 trillion economy through export- and investment-friendly measures.
Investment pacts may not be part of FTAs (Financial Express)
India is maintaining its stance of keeping investment protection treaties separate from free trade agreements (FTAs), despite demands from partners, citing the distinct nature of trade and investment disputes. Currently negotiating FTAs with the UK, EU, Australia, Peru, Sri Lanka, and Oman, India is simultaneously pursuing bilateral investment treaties with the UK and EU while ensuring investment facilitation chapters in FTAs. This separation stems from past international arbitration losses (e.g., Vodafone and Cairn), leading to the termination of 60 out of 80 bilateral treaties and a policy shift, even as global FTAs increasingly include investment protection chapters offering legal guarantees against discrimination and expropriation.
