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China, India Keen on Joint Ventures For e-vehicles

He also proposed to the two sides to hold a meet in the first half of this year in Beijing to explore cooperation possibilities between their firms

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India and China on Saturday agreed on a joint economic project in Afghanistan, sources said after a two-day summit between Prime Minister Narendra Modi and Chinese President Xi Jinping here.
China, India keen on joint ventures for e-vehicles, wikimedia commons

China and India, the world’s two largest greenhouse gas emitters, are keen on joint ventures in manufacturing electric vehicles as companies from both countries held talks at a three-day event in Beijing.

India’s leading automakers such as Maruti Suzuki, Tata, TVS and industry associations participated at the 5th China EV100 Forum in Beijing where e-vehicle manufacturing firms from across the world were present.

The three-day event, which concluded on Sunday, was organised by China EV100, a private electric vehicle association of over 200 leading Chinese electric mobility industries.

Anil Srivastava, Principal Advisor at NITI Aayog, who headed the Indian delegation, met Chen Qingtai, President of China EV100.

According to McKinsey, China has emerged as the leader both in the supply of and demand for electric vehicles.

However, some Chinese firms believe India will surpass China in terms of demand for these vehicles.

Earlier, in an interview to IANS, the General Manager of China’s leading electric vehicle company, Sunra, Victor Lu, said he sees India emerging as the world’s biggest market for electric bikes.

Countering China's High-Altitude Land Grab
Indian PM Narendra Modi and Chinese President Xi Jinping. Twitter

Addressing the forum, Srivastava talked about India’s policy for the promotion of electric mobility, the current state of play and future roadmap.

He mentioned that India is committed to global environmental commitments and will encourage the development and adoption of clean energy and new energy transportation.

He also said that that Chinese electric vehicles companies can pay a substantive role in helping India achieving its ambitious goal of electric mobility by 2030.

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He mentioned that EV industries of both countries should have more interaction and proposed to establish a formal interaction mechanism between them.

He also proposed to the two sides to hold a meet in the first half of this year in Beijing to explore cooperation possibilities between their firms.

While meeting Srivastava, Chen said India was an important country for Chinese electric vehicle players and encouraged Chinese industries’ participation and investment in the Indian market. (IANS)

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Nepal’s Central Bank Announces Ban of Indian Notes Above Rs 100

Currently, only the notes with a denomination of Rs 100 and below are freely exchangeable in Nepal

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Indian Currency. Pixabay

Nepal’s central bank has announced the ban of Indian currency notes with denominations above Rs 100.

The Nepal Rastra Bank (NRB) on Sunday issued a circular for the institutions licensed by it notifying them about the ban, reports Xinhua news agency.

Authorised to Issue Currency Notes.
Rs. 2000 note was issued by RBI who maynot ahve been Authorised to Issue Currency Notes. Wikimedia.

Nepal’s cabinet in December had decided to ban the use of these currency notes.

The decision to ban these notes has come a time when the NRB has requested the Reserve Bank of India (RBI) arequesting the latter to allow Nepal to use currency notes with all denominations.

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Currently, only the notes with a denomination of Rs 100 and below are freely exchangeable in Nepal. (IANS)