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Innovation: Changing the Indian MSME Landscape
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"MYSTERIOUS INDIA" EXHIBITION OPENS IN MOSCOW
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India extends new $ 500-m line of credit to Myanmar
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| MOU SIGNED BETWEEN ICCR AND INSTITUTE OF PHILOSOPHY, RUSSIAN ACADEMY OF SCIENCES |
1. A Memorandum of Understanding (MoU) was signed on 27 October 2011 at the Embassy of India, Moscow, between the Indian Council for Cultural Relations (ICCR), New Delhi, and the Institute of Philosophy, Russian Academy of Sciences, Moscow, on the continuance of the Mahatma Gandhi Chair on Indian Philosophy. H.E. Mr. Ajai Malhotra, Ambassador of India to the Russian Federation signed the MOU on behalf of ICCR while Academician Abdusalam Guseinov, Head of the Institute of Philosophy, signed on its behalf. The MOU will be in effect till 2014.
2. Speaking at the signing ceremony, Ambassador Malhotra expressed satisfaction that the long-standing tradition of Indo-Russian academic cooperation would be further strengthened by the continuation of this Chair. He noted that philosophy of the Mahatma was even more relevant in today's world and his legacy and thoughts will continue to inspire future generations across the world. He added that the signing of the MoU is part of the effort by the Embassy to enhance the scope of Indology across Russia and stated that other such initiatives were also in the pipeline.
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| PM'S REMARKS AT THE G-20 SUMMIT AT CANNES |
November 3, 2011
“Mr. President, let me thank you for the excellent arrangements made for the Summit, and for your hospitality.
We meet at a time when the global economy faces exceptional uncertainty. Our Summit will be judged by our ability to deal with financial instability emanating from the Euro zone periphery. We had hoped that the agreement arrived at by Euro zone Leaders for reducing the Greek Debt, combined with a new EU-IMF programme providing additional resources, could be put in place quickly. The announcement of a referendum by the Government of Greece has upset these calculations. I hope ways can be found to manage the situation so that a package can be put in place as quickly as possible.
We welcome the initiatives taken in the Euro zone to evolve innovative mechanisms to raise resources for the European Financial Stability Facility and to strengthen fiscal discipline through intensive surveillance. This goes some way towards addressing one of the known deficiencies in having a monetary union without fiscal union. However, the effectiveness of these arrangements to cope with the crisis is yet to be tested.
Although the Eurozone countries have the principal responsibility for dealing with these problems, the dangers from spillovers from the Eurozone to the rest of the world are a matter of concern for all of us. In an increasingly integrated world, all of us have a stake in the orderly functioning and prosperity of Europe, including the Eurozone countries. Prolonged uncertainty and instability in the Eurozone countries can hurt us all. The IMF must keep the situation under close watch as part of regional surveillance. It should also be willing to help in an appropriate manner if asked to do so.
We strongly support the IMF playing its part in restoring stability in Europe. At the same time, the IMF must also keep in mind the liquidity requirements of developing countries who are not at the centre of the crisis, but may nevertheless be adversely affected as innocent bystanders.
As we deal with the short term problem of instability we must also face the challenge of orchestrating a broad based recovery and sustainable growth in industrialized countries and in developing countries. This is what the Mutual Assessment Process exercise is meant to do. We face the difficult task of balancing the requirement for giving a push to growth in the short term and the task of restoring fiscal sustainability over the medium term. These call for very different policy prescriptions.
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