Newsletter - November 2020

Economic

Focus Issues	High Impact News
Prime Minister Shri Narendra Modi inaugurated RE-Invest 2020 On 26 November 2020, Prime Minister of India Shri Narendra Modi inaugurated the 3rd virtual Global Renewable Energy Investment Meeting and Expo (RE-Invest 2020). The theme for RE-Invest 2020 was ‘Innovations for Sustainable Energy Transition’.	PM Modi congratulates President Rajapaksa on the first anniversary of assumption of Office On 23 November 2020, Prime Minister of India Shri Narendra Modi congratulated the President of Sri Lanka H.E. Gotabaya Rajapaksa on the first anniversary of assumption of Office. Further, Prime Minister noted that the India-Sri Lanka relationship had expanded into new areas and had strengthened in the past year
Government of India to set up 1,000 LNG stations for trucks and buses in 3 years On 19 November 2020, Minister of Petroleum & Natural Gas and Steel Shri Dharmendra Pradhan laid the foundation stone for the first 50 LNG fueling stations, across the golden quadrilateral and major National Highways.This is part of a initiatives of the Ministry of Petroleum and Natural Gas in realizing Hon’ble Prime Minister Shri Narendra Modi’s vision of transforming India into a Gas based economy. Government hasidentified LNG as a transport fuel as a priority area.	MoU to implement HICDPs under Indian grant assistance signed On 11 November 2020, a MoU to implement High Impact Community Development Projects (HICDP) under Indian grant assistance was signed between India and Sri Lanka in the presence of Hon. Prime Minister of Sr Lanka Mahinda Rajapaksa. A total of 64 HIDCP projects with a total outlay of approx Rs. 20 billion as aid from the Government of India have been implemented in Sri Lanka.
8th BRICS STI Ministerial Meeting On 13 November 2020, Minister of Science and Technology Shri Harsh Vardhan participated in the 8th BRICS STI Ministerial Meeting. During the meeting, the Minister stated that India is hosting clinical trials for all the major vaccines, and about 20 vaccines are in different stages of development. He added that two of them are at an advanced stage of development.	Indian NSA in Sri Lanka for Trilateral Meeting On 27 November 2020, Indian National Security Adviser Shri Ajit Doval & a delegation arrived in Colombo for trilateral discussions among India, Sri Lanka and Maldives. Sri Lanka hosted the 4th National Security Adviser (NSA) Level Trilateral Meeting on Maritime Security Cooperation between India, Sri Lanka and Maldives on 27-28 November 2020 in Colombo
CCEA approves ₹1,810 cr investment for 210 MW hydropower project in Himachal On 4 November 2020, the Cabinet Committee on Economic Affairs (CCEA) chaired by Prime Minister Shri Narendra Modi has approved the investment of ₹1,810.56 crores for 210 MW Luhri Stage-I Hydro Electric Project located on river Satluj which is situated in Shimla and Kullu districts of Himachal Pradesh.This project will generate 758.20 million units of electricity annually.	PM chairs Virtual Global Investor Roundtable On 05 November 2020, Prime Minister Shri Narendra Modi chaired the Virtual Global Investor Roundtable (VGIR) which was organized by the Ministry of Finance, Government of India, and National Investment and Infrastructure Fund. In his remarks, Prime Minister said that India offers investors Democracy, Demography, Demand as well as Diversity, and also outlined the various Government initiatives aimed at improving manufacturing and ease of doing business