Daily : March 10, 2017

11th North East Business Summit

11th North East Business Summit

Question: 11th North East Business Summit was organized by …
a) The Indian Chamber of Commerce
b) Ministry of Development of North Eastern Region
c) Ministry of commerce and industry
d) None of the above.
Ans: (a)

  • The Indian Chamber of Commerce is organizing the 11th North East Business Summit (NEBS) in the national capital on March 9-10, 2017.
  • The 11th NEBS will aim to display strengths, potentials and initiatives of the North East.
  • It envisages promoting investment in the region and also focused deliberations on strategic areas like infrastructure and connectivity, agri-horti, food processing, service sector and energy to highlight the investment and business opportunities in these sectors.
  • According to the organizers NEBS will discussions over ease of doing business in the region which would help stakeholders address key issues.
  • Secretary, Ministry of Development of North Eastern Region Mr. Naveen Verma emphasized on the need of faster and reliable transit facilities and freight modes to make the North Eastern Region products competitive.
  • Union Minister for Railways, Shri Suresh Prabhu, briefed that an e-commerce portal will soon be launched to sell NER handicrafts and handloom worldwide on the IRCTC website. He also mentioned that Darjeeling Gorkha Hill Council has assured providing land for expansion of the rail link to Darjeeling, which will be further extended to Sikkim.


INS Tillanchang Commissioned at Karwar

INS Tillanchang Commissioned at Karwar

Question: Indigenously designed and built, INS Tillanchang, recently commissioned into the Indian Navy was built by which of the following companies?
a) Garden Reach Shipbuilders and Engineers (GRSE) Kolkata
b) Hindustan Shipyard
c) Cochin Shipyard
d) Vipul shipyard
Ans (a)

  • On 9th March, 2017, INS Tillanchang, a Water Jet Fast Attack Craft was commissioned into the Indian Navy by Vice Admiral Girish Luthra, the Flag Officer Commanding-in-Chief Western Naval Command, at Karwar.
  • INS Tillanchang has been built by the Garden Reach Shipbuilders and Engineers (GRSE) Kolkata. The ship has been indigenously designed and built and is an upgrade from the Chetlat class of Fast Attack Craft that the Indian Navy possesses.
  • It is the third ship of ‘Water Jet Fast Attack Craft’ category built by this company.
  • The first two ships of the class, IN ships Tarmugli and Tihayu were commissioned in 2016 and are based at Visakhapatnam.
  • INS Tillanchang is about 50 m long and powered by three waterjet propulsion system, which give it speeds of over 35 knots. It was able to achieve the fastest speeds among all ships of this category during the speed trials. The ship is armed with a 30 mm main gun and a number of light, medium and heavy machine guns to undertake operations at sea. It is manned by 50 personnel and commanded by Commander Adit Patnaik.
  • It is an ideal platform for a number of missions like coastal and off-shore surveillance, EEZ control, law enforcement as well as non-military missions such as Search and Rescue, Humanitarian Assistance and Disaster Relief.
  • INS Tillanchang will be based at Karwar under the operational control of the Flag Officer Commanding, Karnataka Naval Area.


12th CII-Exim bank conclave on India Africa Project Partnership

12th CII-Exim bank conclave on India Africa Project Partnership

Question: Where was the 12th CII-Exim bank conclave on India Africa Project Partnership held?
a) New Delhi
b) Kolkata
c) Mumbai
d) Pune
Ans: (a)

  • On 9th March, 2017, The President of India, Shri Pranab Mukherjee inaugurated the 12th CII-EXIM Bank Conclave on India Africa Project Partnership at Hotel Taj Palace in New Delhi.
  • The Conclave is an annual event witnessing the participation of high-level official and business delegations from African countries. This year, the King of Swaziland His Majesty, Mswati – III, and the Prime Minister of Uganda Dr Ruhakana Rugunda attended the event as Guests of Honour.
  • Business-to-business meetings were organised as part of the Conclave apart from several sessions covering various sectors such as Trade & Investment, Development Partnership, Agriculture, Health, Infrastructure, Power, Skill Development, Irrigation, Water Supply, Small & Medium Enterprises, Rural Electrification, Railways etc.

Emphasis of the conclave has been on :

  • Increasing outreach of information on Indian enterprise in the identified sectors to Africa.
  • Increasing interaction between the Indian Industry and Africa to address specific opportunities.
  • Discussing possibilities for Indian participation on long term projects.
  • Initiation of programs related to capacity building, including resource mobilization for the same.
  • Building upon the momentum gathered with the launch of the “India Africa Forum Summit” and taking ahead the actionable agenda put forward during the deliberations.

• The President emphasized India’s cooperation in development in Africa through Lines of Credit estimated at over US$7 billion under the India – Africa Forum Summit process. India’s collaboration extends across a wide spectrum. India has offered fifty thousand scholarships to African students. Six thousand Africans have since been trained under India – Africa Forum Summit-3.

About the Conclave:
The first CII- EXIM Bank Conclave on India Africa Project Partnership was held in the year 2005. The initiative was launched by CII in partnership with EXIM Bank of India and with the support of the Ministry of External Affairs and the Ministry of Commerce & Industry, Government of India. It has emerged as the pioneer event in building partnerships and enhancing the economic engagement between the two regions. The essence of the CII Conclave has been to encourage Indian exporters to access the African countries and increase their presence in the region. A measure of success is the increasing participation level at the event. The other measure is the number of MOUs that are signed and the value of projects that are discussed. 2534 projects worth USD 256.63 billion have been discussed in the 10 past editions.

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