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பிரதமர் ஹேம்பர்க்-ல் ப்ரிக்ஸ் தலைவர்கள் சந்திப்பில் பிரதமர் கலந்து கொண்டார்

Published By : Admin | July 7, 2017 | 14:43 IST
PM attends informal BRICS leaders meeting in Hamburg
BRICS has been a strong voice and needs to show leadership on terrorism and global economy: PM
India's commitment to implementing Paris Agreement in letter and spirit: PM Modi

The leaders of the 5 BRICS countries held an informal meeting on the sidelines of G20 Summit in Hamburg, Germany. This was in run up to the forthcoming 9th BRICS Summit in September in Xiamen, China. President Xi of China said he looked forward to welcoming the BRICS leaders.

In their interventions, the leaders discussed preparations and priorities for the forthcoming Xiamen BRICS Summit. 
Prime Minister mentioned that BRICS has been a strong voice and needs to show leadership on terrorism and global economy. He stressed that G20 should collectively oppose terrorism financing, franchises, safe havens, support and sponsors. Referring to reforms in India, including the recent introduction of GST, PM stated that it was necessary to work together for sustained global economic recovery. He advocated collective voice against the practices of protectionism, especially in the spheres of trade and movement of knowledge and professionals. He reiterated India's commitment to implementing Paris Agreement in letter and spirit and described its implementation globally as essential to fighting climate change.  He called for expeditious action to establish BRICS rating agency and stated that cooperation on development of Africa should be a priority.  He also called for greater people-to-people exchanges. 
 
The Prime Minister appreciated momentum in BRICS under the Chairmanship of President Xi and extended full cooperation and best wishes for the BRICS Xiamen Summit. 
Concluding the meeting immediately after PM's remarks, President Xi appreciated India's strong resolve against terrorism and the momentum in BRICS introduced under India's Chairmanship and through the outcomes of the Goa Summit in 2016. He also appreciated India's success in economic and social development and wished India even bigger success. 
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Cabinet approves National Investment Policy for Urea-2026 for Atmanirbhar Bharat (NIPU-2026)
July 15, 2026

The Cabinet Committee on Economic Affairs, chaired by the Prime Minister Shri Narendra Modi, today has approved the proposal of the Department of Fertilizers on National Investment Policy for Urea-2026 for Atmanirbhar Bharat (NIPU-2026).

Benefits:

The policy will encourage new investments in the Urea sector for setting up the gas based Urea manufacturing units in the country. This will help in the achieving the goal of self-sufficiency. Further, the key changes in comparison to NIP-2012 includes the separation of fixed and variable costs for greater transparency, introduction of a viable Return on Equity (RoE) band with a floor at 12% and a ceiling at 16%, and mitigation of foreign exchange risk through conversion of fixed cost into INR after four years based on prevailing exchange rates. These measures are estimated to result in savings of over Rs.250 crore for each plant established under NIPU-2026 compared to NIP-2012.

Implementation Strategy and targets:

Setting up of new Urea manufacturing units will be covered under the National Investment Policy for Urea-2026 for Atmanirbhar Bharat (NIPU-2026).

Background:

To attract New Investments in the Urea sector, a policy for investments in the Urea sector was finalised by the Department of Fertilizers for Revamp, Expansion, Revival/Brownfield and Greenfield projects in 2012. Under New Investment Policy (NIP) – 2012, total 6 new Urea units have been set up which includes 4 urea units set up through Joint Venture Companies (JVC) of nominated PSUs and 2 urea units set up by the private companies. The period for new investment under NIP-2012 expired by October-2019.

At present, there are 33 operational Urea manufacturing units with total Reassessed/installed capacity of 269.42 LMT. There is a need to increase the indigenous production of Urea. There is a gap in the indigenous production and demand of urea in the country which is filled by the import of urea.

Department of Fertilizers have received various proposals for setting up of Urea units. Hence, a National Investment Policy for Urea is necessary.