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"Narendra Modi addresses first ever India International Bullion Summit organized by BBA"
"Our goldsmiths should not suffer from unemployment. The bullion market and association to start skill development initiatives to train young goldsmiths and children of goldsmiths: Narendra Modi"
"Shri Modi talks at length about the importance of gold in the lives of the people of India"
"While making policies about gold, the considerations cannot only be economic but also Government must ensure that the common people must not feel disconnected with it: Narendra Modi"
"Nobody knew that the gold control act would have such an effect on society: Narendra Modi"

Addressing the first ever India International Bullion Summit organized by the Bombay Bullion Association through video conferencing, Shri Narendra Modi inspired the audience to raise the voice for the interests of the goldsmiths and raise their voice against smuggling. He stated that our goldsmiths should not suffer from unemployment and called for the bullion market and association to start skill development initiatives to train young goldsmiths and children of goldsmiths. Modi ji affirmed that we all must work together to make our nation the ‘Sone Ki Chidiya’ once again. He even called for exploring the opportunities in exporting handmade jewelry, which can help boost exports.

Shri Modi talked at length about the importance of gold in the lives of the people of India. “Gold is deeply associated with our lives. The 50th anniversary is called a golden jubilee and we call our good period a golden period. It is in the mind of every person that with gold comes a sense of security and a sense of respect. On important occasions we exchange gold.” He also went on to say that gold is very popular among the rural areas where banking facilities are not very advanced making people buy gold.

Narendra Modi addresses first ever India International Bullion Summit organized by BBA

Shri Modi avowed that while making policies about gold, the considerations cannot only be economic but also must ensure that the common people must not feel disconnected with it. Shri Modi also shared that even a report of the RBI noted that buying gold was not simply a matter of economics but also about the mind of the people. If the Government thinks that by imposing duty the buying of gold will reduce they are wrong and even the RBI said it, Shri Modi said.

He also came down heavily on the Centre for their weak excuse on price rise and rupee falling. Shri Modi pointed, “What has happened to the Centre I do not understand. They said Rupee is falling due to imports so they said shut petrol pumps at night. For rising prices what kind of excuses they make- the north is consuming rice, the south is consuming wheat!” 

Narendra Modi ji also spoke against the drawbacks of central control in this sphere under the previous regimes from the time of 1947 till 1990s. He also said that due to the Gold Control Act the skills of our goldsmiths took a beating, which is unfortunate and further said that the biggest loss for a nation is when it loses its skills. Shri Modi recalled that due to these policies gold smuggling became a very big thing, gangs emerged and anti-social elements rose. “Nobody knew that the gold control act would have such an effect on society,” he noted. 

Shri Modi assured the organizers of the conference and the BBA and other people gathered that he fully understands their problems.

The audience gave a standing ovation to Shri Modi both before and after his speech.

Narendra Modi addresses first ever India International Bullion Summit organized by BBA

Narendra Modi addresses first ever India International Bullion Summit organized by BBA

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Trade and beyond: a new impetus to the EU-India Partnership

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Trade and beyond: a new impetus to the EU-India Partnership
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INDIA-EU LEADERS' MEETING
May 08, 2021
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At the invitation of the President of the European Council Mr. Charles Michel, Prime Minister Shri Narendra Modi participated in the India-EU Leaders’ Meeting today.

The meeting was held in a hybrid format with the participation of leaders of all the 27 EU Member States as well as the President of the European Council and the European Commission. This is the first time that the EU hosted a meeting with India in the EU+27 format. The meeting was the initiative of the Portuguese Presidency of the Council of the European Union.

During the meeting, the leaders expressed their desire to further strengthen the India-EU Strategic Partnership based on a shared commitment to democracy, fundamental freedoms, rule of law and multilateralism. They exchanged views on three key thematic areas: i) foreign policy and security; ii) COVID-19, climate and environment; and iii) trade, connectivity and technology. They discussed forging closer cooperation on combating the COVID-19 pandemic and economic recovery, tackling climate change, and reforming multilateral institutions. India appreciated the prompt assistance provided by the EU and its member states to combat its second COVID wave.

The leaders welcomed the decision to resume negotiations for balanced and comprehensive free trade and investment agreements. Negotiations on both the Trade and Investment Agreements will be pursued on parallel tracks with an intention to achieve early conclusion of both agreements together. This is a major outcome which will enable the two sides to realise the full potential of the economic partnership. India and the EU also announced dedicated dialogues on WTO issues, regulatory cooperation, market access issues and supply chain resilience, demonstrating the desire to deepen and further diversify economic engagement.

India and the EU launched an ambitious and comprehensive ‘Connectivity Partnership’ which is focused on enhancing digital, energy, transport and people-to-people connectivity. The Partnership is based on the shared principles of social, economic, fiscal, climate and environmental sustainability, and respect for international law and commitments. The Partnership will catalyse private and public financing for connectivity projects. It will also foster new synergies for supporting connectivity initiatives in third countries, including in the Indo-Pacific.

India and the EU leaders reiterated their commitment to achieving the goals of the Paris Agreement and agreed to strengthen joint efforts for mitigation, adaptation and resilience to the impacts of climate change, as well as providing means of implementation including finance in the context of COP26. India welcomed the EU’s decision to join CDRI.

India and the EU also agreed to enhance bilateral cooperation on digital and emerging technologies such as 5G, AI, Quantum and High-Performance Computing including through the early operationalization of the Joint Task Force on AI and the Digital Investment Forum.

The leaders noted with satisfaction the growing convergences on regional and global issues, including counterterrorism, cybersecurity and maritime cooperation. The leaders acknowledged the importance of a free, open, inclusive and rules-based Indo-Pacific and agreed to closely engage in the region, including in the context of India’s Indo-Pacific Ocean’s Initiative and the EU’s new strategy on the Indo-Pacific.

Coinciding with the Leaders’ Meeting, an India-EU Business Roundtable was organised to highlight the avenues for cooperation in climate, digital and healthcare. A finance contract of Euro 150 million for the Pune Metro Rail Project was signed by the Ministry of Finance, Government of India, and European Investment Bank.

India-EU Leaders Meeting has set a significant milestone by providing a new direction to the Strategic Partnership and giving a fresh impetus for implementing the ambitious India-EU Roadmap 2025 adopted at the 15th India-EU Summit held in July 2020.