Tuesday September 25, 2018
Home Business India Request...

India Requests ADB to Focus on West and South Asia

Garg, who is an Alternate Governor on the ADB Board, the ADB "strategy should focus more on West Asia and South Asia as interventions in East Asia are already done fairly well," the statement said.

0
//
42
Back in the Indian Test cricket team after more than a year, middle-order batsman Karun Nair says he is now working to become an all-format player in future.
Karun Nair will lead the India A side in the four-day matches in the UK. wikimedia commons
Republish
Reprint

India has urged the Asian Development Bank (ADB) to focus more on the West and South Asia regions after successful East Asia interventions by the multilateral lender and has said there is no case for increasing cost of its loan instruments as it has no capital deficiency, an official statement said on Sunday.

In his intervention on Saturday at the ADB’s annual meeting in Manila, Economic Affairs Secretary S.C. Garg also made a strong case for ADB to adopt “country systems” for procurements and environmental safeguards and called for increasing lending for the private sector in developing countries, a Finance Ministry release said here.

Garg, who is an Alternate Governor on the ADB Board, the ADB "strategy should focus more on West Asia and South Asia as interventions in East Asia are already done fairly well," the statement said.
Asian Development Bank HQ, wikimedia commons

Garg, who is an Alternate Governor on the ADB Board, the ADB “strategy should focus more on West Asia and South Asia as interventions in East Asia are already done fairly well,” the statement said.

“He emphasized that the private sector operations of ADB as envisaged in the strategy should be enhanced and there should be more focus on equity participation.

“He also stated that there is absolutely no case for increase of cost of of various loan instruments as there is no capital deficiency in ADB,” it said.

Also Read: Indian Companies Invested Over $4 Billion in South Africa, says CII

“Garg also argued that there is a strong case for ADB to adopt Country Systems for procurements and environmental safeguards and called for concerted efforts towards increasing lending for the private sector in developing member countries,” it added.

According to the statement, he also highlighted the need for taking into account the likely impact technical advancements such as Artificial Intelligence (AI) and robotics, so that ADB can equip the member countries to reap maximum benefit.

The Indian delegation to the ADB also held bilateral meetings with the Japan Bank for International Cooperation. (IANS)

Click here for reuse options!
Copyright 2018 NewsGram

Next Story

Video- The Concept of Indian Jewelry

In southern part of India, gold is considered auspicious and a status symbol

0
Jewelry
This article is going to help you the understand the importance of Jewelry in Indian Culture.

By Vaishali Aggarwal

India and jewelry, jewelry and Indian women – the terms are linked inherently. At the time of wedding as well as numerous other occasions, a woman is gifted jewelry by her parents and relatives. Although the gift is meant to give her security in contingency, ornamentation is an obvious purpose. All the cities across the length and width of India have shops of jewelers – some traditional and some modern jewelers, catering to the need of all kinds. Not that the affluent class people wear ornaments, there are low cost jewelry items in ample, which cater the demand of low income group as well.

India houses various kinds of jewelry arts, ranging from Meenakari and Kundan to stone and bead work. The craft of cutting and polishing precious and semi-precious stones and giving them glamorous face is something artistic. Emeralds, rubies, garnets, amethysts, corals, sapphires, and turquoises are among the stones which are used for the enhancement of gold and silver jewelry. Gold jewelry is the most popular among South Indian women. In southern part of India, gold is considered auspicious and a status symbol. Talking about the art on gold jewelry, Kundan is something that comes into our mind.

Next Story