Newsletter - July 2020

Economic

Focus Issues	High Impact News
India's Forex Reserves crossed half trillion dollars for the first time India’s foreign exchange reserves rose to US$8.2 billion in the first week of June and crossed the milestone US$500 billion mark for the first time in the country’s history. India’s central bank has been shoring up its foreign reserves since...	Indian Naval Ship Jalashwa repatriated nearly 700 stranded Indian Nationals from Sri Lanka Indian Naval Ship ‘INS Jalashwa’ visited Colombo on June 1, 2020 to take back nearly 700 stranded Indian nationals from Sri Lanka. This voyage is a part of Operation Samudra Setu, through which Indian Naval Ships have been deployed to bring back...
Prime Minister Narendra Modi addressed the 95th Annual Plenary Session of Chamber of Commerce On 11 June 2020, Prime Minister Shri Narendra Modi delivered the inaugural address on the occasion of the 95th Annual Plenary Session of Indian Chamber of Commerce (ICC). Prime Minister Narendra Modi’s address took place via video conferencing...	Second Special Repatriation flight with stranded Indians took off from Sri Lanka On 15 June 2020,156 Indian nationals stranded in Sri Lanka were repatriated through a special Air India AI 1202 flight from Colombo to Kochi and Bengaluru. The flight was scheduled as a part of Phase III of ‘Vande Bharat Mission’, a Government...
The 1stVirtual Healthcare & Hygiene EXPO 2020 Minister of State for Shipping (Independent charge) and Chemicals & Fertilizers, Shri Mansukh Mandaviya inaugurated the 1st Virtual Healthcare & Hygiene EXPO-2020, organized by the Federation of Indian Chambers of Commerce & Industry (FICCI)...	Third special repatriation flight for stranded Indians took off from Sri Lanka On 22 June 2020, 242 Indian nationals stranded in Sri Lanka were repatriated on a special Air India (AI 02802) flight from Colombo to Delhi- Lucknow -Gaya. Nearly 1500 Indian nationals have been repatriated from...
Maharashtra Chief Minister launched world's largest convalescent plasma project On 29 June 2020, Chief Minister of Maharashtra, Shri Uddhav Thackeray launched the convalescent plasma therapy-cum-trial project for treatment of critical COVID-19 patients. The project, titled 'Platina', is the largest convalescent plasma therapy-cum-trial project...	Large potential for increase in bilateral trade During the Annual General Meeting of the Ceylon Chamber of Commerce in June 2020, the High Commissioner of India, H.E. Gopal Baglay stated that there is a substantial potential for increase in bilateral trade between India and Sri Lanka which stood at US$ 4.59 billion in 2019...
Prime Minister Shri Narendra Modi launched auction process for commercial mining of 41 coal blocks On 18 June 2020, Prime Minister Shri Narendra Modi launched the auction process for 41 coal blocks for commercial mining. This opens India’s coal sector to private players, and is expected to attract...	HCL Technologies to start operations in Sri Lanka On 16 June 2020, HCL Technologies (HCL), a leading global technology company, announced commencement of its operations in Sri Lanka. Marking its presence in the region, HCL plans to create over 1,500 new local employment opportunities...
High Commissioner of India, H.E. Gopal Baglay called on President Gotabaya Rajapaksa High Commissioner of India, H.E. Gopal Baglay paid a courtesy call on President Gotabaya Rajapaksa at the Presidential Secretariat on May 28, 2020. The High Commissioner expressed his gratitude to the President...	India’s Aparajitha Corporate Services’ foray into Sri Lanka Aparajitha Corporate Services, a Chennai-based regulatory compliance service provider, announced its foray into Sri Lanka through a strategic alliance with the Colombo-based 3W Consulting. This partnership...