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Gujarat International Finance Tec-City Company Limited (GIFTCL) a Government of Gujarat initiative for developing a Global Financial Hub at Gandhinagar has signed a Memorandum of Cooperation (MoC) with Singapore Cooperation Enterprises (SCE), a Government of Singapore Agency on December 16, 2011 in the presence of Chief Minister Narendra Modi at Gandhinagar.

GIFTCL has been SET UP by the Government of Gujarat jointly with Infrastructure Leasing & Financial Services Ltd. (IL&FS) for developing a Global Financial Hub at Gandhinagar, for covering International Financial Services and Domestic Financial Services and allied activities. The Singapore Cooperation Enterprises (SCE) has been set up by Singapore Government as a nodal agency to promote international cooperation between Singapore Government agencies and private enterprises with development agencies in other countries.

Signing of MoC will provide institutional framework to promote investment and development of International Financial Services in GIFT by Singapore based government and private agencies. In pursuance of this MoC, GIFT and SCE together will identify and promote investment in GIFT Project. It will also promote setting up of Financial Service activities by Singapore based financial institutions in GIFT area particularly, GIFT SEZ.

The main objective of MoC is to identify areas of cooperation to stimulate business interest of Singapore based government and private agencies in GIFT Project. Initially, it will cover Infrastructure, Real Estate and Financial Services. Within the framework of MoC, GIFT and SCE together will identify and promote key investment sectors for collaboration which may cover high rise buildings, infrastructure, financial services, technology, consultancy and related subjects. GIFT and SCE will also endeavour to identify specific projects for collaboration on best efforts basis which will enhance bilateral cooperation between Gujarat and Singapore.

GIFT and SCE have scheduled to hold a joint Seminar in January 2012 in Singapore during which SCE will facilitate participation of Singapore based government and private Financial Institutions, Banks, Developers etc. for participation in GIFT Project.

The signing of MOC is the beginning of increased cooperation between Gujarat and Singapore in GIFT project.

Those who witnessed the signing of MOC ceremony includes GIFT chairman Sudhir Mankad, Additional Chief Secretary to Finance M. Shrivastava, Principal Secretary to Industries M. Sahu, Additional Principal Secretary to Chief Minister G. C. Murmu and the delegates of SCE.

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There is no substitute to testing, tracking and treatment: PM
All necessary measures must be taken to ramp up the availability of hospital beds for Covid patients: PM
Local administrations need to be proactive and sensitive to people’s concerns: PM
PM reviewed the status of supply of Remdesivir and other medicines
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Utilize the entire national capacity to ramp up vaccine production: PM

Prime Minister Narendra Modi chaired a meeting to review the status of preparedness to handle the ongoing Covid-19 pandemic. Various aspects relating to medicines, oxygen, ventilators and vaccination were discussed.

The Prime Minister said that together India had defeated Covid last year & India can do it again, with the same principles but faster speed and coordination.

The PM stressed that there is no substitute to testing, tracking and treatment. Early testing and proper tracking remains key to reduce mortality. He also said that local administrations need to be proactive and sensitive to people’s concerns.

The Prime Minister directed that close coordination with States must be ensured in handling the pandemic. He said that all necessary measures must be taken to ramp up the availability of hospital beds for Covid patients. The Prime Minister also directed that additional supply of beds through temporary hospitals and isolation centres should be ensured.

PM spoke about the need to utilize the full potential of India’s pharmaceutical industry to meet the rising demand of various medicines. He reviewed the status of supply of Remdesivir and other medicines. The Prime Minister was briefed on actions taken to address the issue of availability of Remdesivir. Through the efforts of the Government, capacity and production augmentation for manufacturing of Remdesivir has been ramped up to provide around 74.10 lakh vials/month in May while the normal production output in January-February being just 27-29 lakh vials/month. Supplies have also increased from 67,900 vials on 11th April going up to over 2,06,000 vials on 15th April 2021 which are being particularly focused on states with high caseload and high demand. He took note of the ramped up production capacity, and directed that issues relating to real-time supply chain management to States must be resolved urgently in coordination with the States. The Prime Minister directed that use of Remdesivir and other medicines must be in accordance with approved medical guidelines, and that their misuse and black marketing must be strictly curbed.

On the issue of supply of medical oxygen, the Prime Minister directed that the installation of approved medical oxygen plants should be sped up. 162 PSA Oxygen plants are being installed in 32 States/UTs from PM CARES. The officers informed that 1 lakh cylinders are being procured & they will be supplied to states soon. The officers briefed the PM that they are in constant supply with 12 high burden states in assessing the current and future requirement of medical oxygen. A supply mapping plan for 12 high burden states till 30th April has also been undertaken. The Prime Minister also said that supply of oxygen required for production of medicines and equipment necessary to handle the pandemic should also be ensured.

The Prime Minister also reviewed the status of availability & supply of ventilators. The Prime Minister noted that a real time monitoring system has been created, and directed that concerned State governments should be sensitized to use the system proactively.

On the issue of vaccination, the Prime Minister directed all officials to make efforts to utilize the entire national capacity, in public as well as private sector, to ramp up vaccine production.

He was joined by Cabinet Secretary, Principal Secretary to PM, Union Home Secretary, Union Health Secretary, Pharma Secretary. Dr V K Paul, Niti Aayog was also present.