CMD Speaks
Welcome to October 2015

Dear All

October is the traditional month of festivities in India. And all of these are connected to some divine event - linked to an Eternal Energy.

Our Wallpaper for this month reflects the spirit of divine celebration. But what is divine celebration? Does it need a special day, a dedicated place and a specific ritual? Or would pure and selfless intention elevate ordinary actions to a divine status?

Kahlil Gibran said "Work is love made visible". And that is the spirit of all of us at IPE Global too.


We work because we want to make a difference.

We work because we believe in our abilities.

We work because making development happen is our offering to the Divine.

And that what makes IPE Special.

On another note, IPE has become a public limited company in September 2015. Our aspiration is to grow bigger with greater responsibility and transparency. We reaffirm our commitment to make International Development a Ground Reality across the world.

Best wishes
- Ashwajit Singh
Editorial

Dear *|FNAME|*

India is gearing up for the third India - Africa summit to explore some great opportunities to build capacities, bloster trade and bilateral relations and in this lieu of exchanging knowledge, building relations, its great if some concrete result oriented agreements are worked upon. This will help both African countries and India to script a new beginning as the two regions have long shared a great historic relationship.

The News of the Month explores the subject in depth, looking at avenues how to best build this planned engagement into a great grand step into a living reality for both sides.

You can also read about development sector news and aid roundup clocked this month in the edition.

Happy reading and be Inspired!

- Rebika Laishram , Kriti Pandey

News Of The Month
Third India-Africa Summit: Opportunities galore

The 3rd India-Africa Forum Summit is being touted as one of the biggest outreach initiative by Government of India and Prime Minister Modi to the build relations, bolster bilateral ties and harness trade avenues and opportunities with African governments ruling the resource rich continent.

Owing to the geographical proximity between the Horn of Africa and the Indian subcontinent, both have shared a healthy development as well as trade relationship since ancient times. With Afro-optimism uprising, the presence of delegates and leaders from 54 countries in New Delhi later this month from October 26th to 30th will instil a new vigour in the dynamic relations between the two growth poles of the world. Out of the 54 invitations, 51 African states have confirmed their participation where Indian Prime Minister will make a point to the international community by organizing the biggest ever diplomatic India-African spectacle.

The negotiations and discussions this month will lead to action plan and a declaration with leaders exploring and subsequently identifying special areas in institutional capacity building, education, project based development in health sector, agricultural productivity along with food security. With India on the cusp of second generation economic reforms to rewrite its growth story this time with great avenues and returns for all stakeholders, Africa too has been scripting its new chapter of economic resurgence which has led to drawing the attention of many new interested and emerging players to the continent.

Avenues

Apart from the demographic dividend that both the Indian subcontinent and African countries share, there are a lot of similar issues which can be resolved by replicating the change Indian experience and learnings bring forth. Upscaling investments and trade can add to the economic muscle of both sides. With African economy led by agricultural development and limited industrialization, widespread urban poverty and unemployment marred with regional conflicts and poor governance, a strategic trade partnership and alliance with New Delhi can surely lead to a marked shift.

To begin with both stable and fragile countries in the African continent have to develop strong economic and political ties. This has to be focused not just within but beyond their boundaries with other rising powers in the region, if they are looking at reaching the vision they have dreamt of. A strong trade and economic partnership will open a new route to Asia where India has already been established as the economic powerhouse along with China. Secondly, in the context of growth for Africa, there has to be a shift from the raw material to manufactured goods, cheaper imported products, rise in the value scale leading to more job opportunities with effective labour intensive production.

Although, New Delhi is working at its own pace in Africa, it faces stiff competition from Beijing and in coming years trade, investment and aid against the backdrop of political and economies ties in the region will further garner the fate of this “Cape of good hope.”

New Delhi should start by utilizing the opportunities galore at the 3rd India-Africa Summit later this month where impressive policy making with favours from all 51 countries should be done in a way that the Chinese are given a run for their money.

AID Roundup

ADB, IFC to aid railways modernisation

Multilateral financial institutions ADB and IFC could join the proposed multi-billion railways of India modernisation fund anchored by World Bank, giving much needed shot in arm to...Click here

Rs.1,504-crore French aid for Bengaluru Metro

A French development agency on Friday announced 200-million euro (Rs.1,504 crore) as soft loan for the second phase of the much-delayed state-run Bengaluru Metro rail project... Click here

Telangana government seeks Rs 25,000 crore World Bank aid for new projects

Telangana, India's newest state, has sought over Rs 25,000 crore of loans from the World Bank for development projects aimed mainly at reviving rural water bodies, enhancing electricity...Click here

Development News

India expected to weather global volatility to grow at 7.5%: World Bank

India is expected to weather global volatility with real GDP growth projected to increase to 7.5 per cent despite a weak export recovery, the World Bank has forecast... Click here

NITI Aayog to evaluate World Bank-funded projects

The government wants the NITI Aayog to evaluate World Bank assisted projects in India for an independent assessment of their impact, an exercise it believes will help build capacity in... Click here

IMF-World Bank appreciative of India's policy steps: Finance Ministry

Finance Ministry said international agencies like IMF, World Bank and OECD are highly appreciative of India's policy initiatives and measures to deal with tax evasion at global level...Click here

 
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