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Modi Meets CEOs of Top American Companies, Encourages them to Invest in India

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Prime Minister Narendra Modi on Thursday held separate meetings with the heads of America’s top five companies in sectors ranging from 5G to semiconductors, drones and solar energy. During the meeting, he encouraged them to increase investment by mentioning the vast possibilities available in India.

After Modi met with Cristiano Amon, President and Chief Executive Officer (CEO) of Qualcomm, and Mark Widmer, CEO of First Solar, the Prime Minister’s Office (PMO) wrote on Twitter: “Talks on Technology… The conversation was fruitful”. According to the PMO, “Prime Minister Modi spoke about the vast opportunities available in India. Amon said he is looking forward to working with India on 5G and other Digital India initiatives.

Qualcomm Ventures
The Indian Prime Minister first met Cristiano R Amon, President and CEO of tech giant Qualcomm Ventures, and discussed issues such as 5G, electronics and telecom manufacturing PLI schemes and measures to strengthen the innovation ecosystem.

PM Modi spoke about “making India a global innovation hub” during the meeting and informed Ministry of External Affairs (MEA) Spokesperson Arindam Bagchi. Cristiano R Amon, meanwhile, expressed keenness in working with India in areas such as 5G.

Adobe
Prime Minister Narendra Modi next met Adobe CEO Shantanu Narayen and discussed the company’s ongoing activities in India. The two also held talks about ideas to leverage ‘Digital India’ flagship programme in sectors like health, education and R&D.

First Solar
Next in the line to meet PM Modi was the CEO of power manufacturing company First Solar, Mark Widmar. The two talked about India’s renewable energy landscape. During the meeting, the Prime Minister elaborated on India’s efforts to harness solar energy, including the ‘One World, One sun and One grid’ initiative and investment opportunities in the sector.

Discussions also occurred about First Solar’s interest in setting up manufacturing facilities in India using their unique thin-film technology by availing the recently launched Production Linked Incentive (PLI) Scheme and integrating India into global supply chains.

General Atomics
Prime Minister Narendra Modi then met General Atomics CEO Vivek Lall and discussed advancing defence manufacturing and emerging technologies to increase India’s building capacity.

PM Modi spoke about India’s liberal drone policy and the opportunity in manufacturing due to the PLI scheme with Vivek Lall, who said that India was an attractive destination for the manufacturing of drones. He also said that a dedicated drone hub could be created in India to support the entire ecosystem of drones.

Blackstone
The last CEO PM Modi met on Thursday was Blackstone’s Stephen Schwarzman, who briefed him about its ongoing projects in India and its interest in further investments in the infrastructure and real estate sectors.

With the Blackstone CEO, Prime Minister Narendra Modi also talked about “various investment opportunities in India”, including those arising due to the National Infrastructure and National Monetisation Pipelines.

Amish Mahajan
Content Writer
JK Media

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AC Approves Creation of 4 new Courts of Additional District & Sessions Judge

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The Administrative Council (AC), which met here under the chairmanship of the Lieutenant Governor, Manoj Sinha, accorded approval for the creation of four courts of Additional District & Sessions Judges at district headquarters- one each in District Samba, Bandipora, Ganderbal and Poonch.

Farooq Khan and Rajeev Rai Bhatnagar, Advisors to the Lieutenant Governor, Dr Arun Kumar Mehta, Chief Secretary, J&K and Nitishwar Kumar, Principal Secretary to the Lieutenant Governor, attended the meeting.

The Administrative Council also approved the creation of 40 new posts of different categories (10 each) at the new court complexes in the four selected districts with a financial implication of Rs. 258.245 lacs (salary) and Rs 21.657 lacs (NPS) per financial year.

The gradual increase in the population of Jammu and Kashmir has substantially enhanced the judicial workload, which has necessitated the opening of new court complexes to cater to the increased public demand.

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J&K Rolls Out Aspirational Blocks Development Programme

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For intensive and focussed development of the 44 most backward blocks of the Union territory, the Administrative Council (AC), which met here under the chairmanship of Lieutenant Governor, Manoj Sinha, approved the rollout of the prestigious ”Aspirational Blocks Development Programme”.

Farooq Khan and Rajeev Rai Bhatnagar, Advisors to the Lieutenant Governor, Dr Arun Kumar Mehta, Chief Secretary, J&K and Nitishwar Kumar, Principal Secretary to the Lieutenant Governor, attended the meeting.

The blocks identified under the Aspirational Blocks Development Programme are the most backward blocks of the UT of Jammu and Kashmir, requiring particular focus to par with other blocks. In addition, the programme aims to improve development in terms of various socio-economic parameters like education, health and wellbeing, and overall living conditions of the people.

These Aspirational Blocks shall be developed by converging various ongoing UT schemes/programmes and centrally sponsored schemes/ programmes. The District Development Commissioners will be tasked with preparing a suitable development plan. In contrast, the Planning Development and Monitoring Department will constantly monitor the district-wise progress of these blocks through a digital portal.

Under the programme, the resources will be delineated across various development sectors – poverty, health & nutrition, education, and basic infrastructure, at the district level. Additionally, an amount of Rs. 1.00 crore will be provided to each block after fulfilment of defined criteria.

The best practices implemented in the development of Aspirational Blocks will be acknowledged and duly replicated in other blocks to ensure the Union territory’s inclusive and equitable socio-economic development.

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RBI Approves Baldev Prakash As Jammu And Kashmir Bank CEO

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The Reserve Bank of India (RBI) on Wednesday approved the candidature of Baldev Prakash as Managing Director and Chief Executive Officer of Jammu and Kashmir Bank for three years; the Bank said in a note to exchanges on October 27.

The appointment is effective from the date of taking charge or April 10, 2022, whichever is earlier, the Bank said.

The Bank said that the appointment of Baldev Prakash as MD & CEO by the Bank of the Bank and the actual date of his taking charge should be communicated separately.

Previously, Baldev Prakash was working with the State Bank of India in various capacities, including as Chief General Manager responsible for framing bank-level policy and strategy for developing and providing digital and transaction banking services to all Bank corporate clients.

Besides this, Prakash has worked for over four years at Muscat (Sultanate of Oman), responsible for handling remittances business including treasury operations successfully, the Bank said.

In September this year, J&K Bank, in an exchange notification, said the board has approved fundraise up to Rs 2,000 crore subject to shareholders’ approval. The fundraiser will be a mix of debt and equity, the Bank said.

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