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Gartex Texprocess India New Delhi witnesses a grand opening today. Hon’ble Minister of Textiles, Shri Giriraj Singh graced the inauguration

by theparliamentnews.com
written by theparliamentnews.com

New Delhi,1st August 2024: The 11th New Delhi edition of Gartex Texprocess India commenced today with a grand opening at the state-of-the-art expo centre, Yashobhoomi, IICC, Dwarka, New Delhi. Chief Guest, Shri Giriraj Singh, Minister of Textiles highlighting FDIs and joint venture as huge opportunities in the sector.

The show floor is packed with more than 180 exhibitors presenting 600+ brands from countries like India, China, Italy, Japan, Singapore, Taiwan, USA and to showcase the advancements from the world of textiles and garment manufacturing industry.

The 11th edition of the show was inaugurated today in the presence of the esteemed dignitaries of the textile industry, which included:

  1. Chief Guest: Shri Giriraj Singh, Minister of Textiles, Government of India
  2. Mr. Elgar Straub, Managing Director, VDMA Textile Care, Fabric & Leather Technologies
  3. Mr. Sharad Jaipuria, President, Denim Manufacturers Association & Chairman & Mnaging Director of Ginni International Ltd
  4. Mr Simon Lee, Managing Director of Hyosung Group ( Hyosung corporation India Pvt Ltd & Hyosung India Pvt Ltd)
  5. Mr Aamir Akhtar, Group President & CEO Textiles, Jindal Worldwide Limited

Addressing the gathering the Chief Guest, Shri Giriraj Singh, Hon’ble Minister of Textiles, expressed: “I see a very good programme organised with the knowledge sessions, product display and B2B networking opportunities. I thank all the companies associated with garment, machinery, fabrics and denims industry for this.” His address emphasised on encouraging the joint ventures, FDI and collaborative progress within the textile manufacturing between suppliers and manufacturers and brands. He also mentioned that that after agriculture, if there is any sector that has employment potential then it is textiles. Indian government will work in collaboration with the agriculture and textile department to drive the sector ahead. He also emphasised that ‘handlooms’ is one significant sustainable fabric.

Gartex Texprocess India has consistently been at the forefront of showcasing innovations and emerging trends in the textile and garment industry. This edition is featuring an array of innovative product launches from various brands catering to denims, machinery manufacturing, sewing machines, fabrics, trims, accessories and more.

Mr. Raj Manek, Executive Director and Board Member of Messe Frankfurt Asia Holdings Ltd, expressed his enthusiasm on the inauguration of the 11th New Delhi edition. He said: “We are thrilled with the overwhelming response to the 11th edition of Gartex Texprocess India from the industry stakeholders. The Indian government’s focus has been on manufacturing and it gives us the immense pleasure to witness the advancements in textiles and garment manufacturing solutions, denims and more from 200+ exhibitors. This reflects the vibrant and dynamic spirit of this sector.”

Mr. Gaurav Juneja, Director of MEX Exhibitions Pvt Ltd, added: “The impressive turnout and participation from leading brands and international exhibitors highlight the significance of Gartex Texprocess India in driving the future of the textile and garment manufacturing industry. We look forward to positive and successful show with business discussions, networking, knowledge sharing and innovations across three days. “

Day two dedicated to denims will present knowledge rich sessions from Denim industry experts who will discuss everything right from denim manufacturing to its sustainable solutions. The sessions will touch upon areas like laundry automation, sustainability, innovations in denims and how can AI tools be utilized to identify the denim trends as well as lifecycle assessment of denims. These discussions will offer the attendees a lot of crucial insight on denims that will help professionals explore their knowledge, practices and processes.

Organized by MEX Exhibitions Pvt Ltd and Messe Frankfurt Trade Fairs India Pvt Ltd, the three-day trade fair will continue to showcase industry trends and innovations till 3rd August 2024.

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BlogEducation & TechFeaturedIndiaWorld

PM Modi Highlights Knowledge’s Role in Making India a Superpower by 2047 at Nalanda University Inauguration

by theparliamentnews.com
written by theparliamentnews.com

New Delhi: Prime Minister Narendra Modi emphasized the crucial role of knowledge in making India a developed nation by 2047. Addressing students and faculty at the Sushama Swaraj Auditorium at Nalanda University in Rajgir, Modi asserted that India can attain superpower status by strengthening its education and knowledge systems. The Prime Minister inaugurated the newly built campus of Nalanda University, celebrating its historical significance and traditions.

Modi stated that the rejuvenation of Nalanda University symbolizes the emerging power and capacity of India. He highlighted his government’s commitment to blending development with environmental conservation, citing initiatives like the International Solar Alliance.

Modi reiterated efforts to re-establish India as a global knowledge center, giving it a renewed identity in the education sector.

Dr. Jaishankar, speaking at the event, noted the revival of a global bridge of learning, emphasizing education, training, and capacity building as key to promoting international understanding.

Bihar CM Nitish Kumar lauded Nalanda University’s glorious history as an ancient education center. Modi also visited the ancient Nalanda ruins, a UNESCO World Heritage site. The event was attended by External Affairs Minister S. Jaishankar, Bihar Governor Rajendra Arlekar, Chief Minister Nitish Kumar, Deputy CMs Samrat Choudhary and Vijay Sinha, other delegates, and ambassadors from 17 countries.

The ancient ruins include archaeological remains of a monastic and scholastic institution, featuring stupas, shrines, viharas (residential and educational buildings), and significant artworks in stucco, stone, and metal.

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BlogG7World Parliament

PM Modi Prioritizes Global South Concerns at G7 Summit, Highlights India’s Energy and AI Initiatives, and Engages in Key Bilateral Meetings

by theparliamentnews.com
written by theparliamentnews.com

Prime Minister Narendra Modi emphasized prioritizing the concerns of the Global South, especially Africa, during the Outreach Session at the G7 Summit in Apulia, Italy. He highlighted India’s honor in having the African Union admitted as a permanent member of the G20 under its presidency.

Modi discussed India’s energy transition strategy, focusing on availability, accessibility, affordability, and acceptability, and reiterated India’s goal to achieve NET ZERO by 2070. He also called for global participation in India’s “Plant4Mother” campaign, initiated on World Environment Day, to promote tree plantation.

Addressing India’s AI mission, “AI for All,” Modi stressed that AI should promote progress and well-being. He noted India’s role as a founding member of the Global Partnership for AI and emphasized international collaboration.

Celebrating the G7’s 50th anniversary, Modi expressed satisfaction in attending the summit post his re-election, and shared India’s success in utilizing digital technology for public services, advocating for a human-centric approach to technology.

The Italian Prime Minister, in her opening remarks, emphasized the importance of global cooperation, respect, and peer-to-peer engagement to tackle global challenges like AI, energy, and issues concerning Africa and the Mediterranean.

Modi held bilateral meetings with Japanese Prime Minister Fumio Kishida and Italian Prime Minister Giorgia Meloni on the sidelines of the summit. With Kishida, Modi affirmed prioritizing India-Japan ties in his third term and reviewed collaborative projects like the Mumbai-Ahmedabad High-Speed Rail and the India-Japan Industrial Competitiveness Partnership.

In discussions with Meloni, Modi explored enhancing defence and security cooperation, clean energy, manufacturing, space, AI, and critical minerals. They celebrated the signing of an MoU on Industrial Property Rights and a Letter of Intent for Cooperation in Energy Transition. Both leaders also stressed the need for early implementation of the Migration and Mobility Agreement to facilitate professional and academic exchanges.

Earlier, Modi engaged with UK Prime Minister Rishi Sunak, French President Emmanuel Macron, and Ukraine President Volodymyr Zelenskyy. He also met with US President Joe Biden, reaffirming India-US cooperation, and King Abdullah II of Jordan, appreciating strong bilateral ties. Modi’s meeting with Pope Francis highlighted his admiration for the Pope’s dedication to service and environmental sustainability, and he extended an invitation to visit India.

Additionally, Modi met UN Secretary-General Antonio Guterres, Brazil President Lula da Silva, Turkish President Recep Tayyip Erdogan, UAE President Mohamed bin Zayed Al Nahyan, and Canadian Prime Minister Justin Trudeau, strengthening India’s global diplomatic relations.

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BlogIndia ParliamentPoliticsWorldWorld Parliament

Narendra Modi Sworn in as Prime Minister of India for Third Term; New Council of Ministers Takes Oath

by theparliamentnews.com
written by theparliamentnews.com

New Delhi : Shri. Narendra Modi was sworn in today as the Prime Minister of India for the third consecutive term. President Droupadi Murmu administered the Oath of Office and Secrecy to Mr. Modi, along with the new Council of Ministers, at a ceremony held at Rashtrapati Bhawan. During the swearing-in ceremony, 31 Cabinet Ministers, five Ministers of State (Independent Charge), and 36 Ministers of State took the oath.

Senior BJP leaders Rajnath Singh, Amit Shah, Nitin Gadkari, Dr. S. Jaishankar, Piyush Goyal, Dharmendra Pradhan, Nirmala Sitharaman, and BJP President J.P. Nadda were sworn in as Cabinet Ministers. Other senior party leaders, including Kiren Rijiju, Pralhad Joshi, Giriraj Singh, Ashwini Vaishnaw, Jyotiraditya Scindia, Bhupender Yadav, Gajendra Singh Shekhawat, Annapurna Devi, Hardeep Singh Puri, Dr. Mansukh Mandaviya, G. Kishan Reddy, C.R. Patil, Dr. Virendra Kumar, and Jual Oram, also took the oath as Cabinet Ministers. Former Chief Ministers Shivraj Singh Chouhan, Manohar Lal, and Sarbananda Sonowal were among those administered the oath as Cabinet Ministers. Additionally, former Karnataka Chief Minister and JD(S) MP H.D. Kumaraswamy, former Bihar Chief Minister and HAM party chief Jiten Ram Manjhi, JD(U) MP Rajiv Ranjan Singh, TDP MP Kinjarapu Ram Mohan Naidu, and LJP (Ram Vilas) Chief Chirag Paswan were sworn in as Cabinet Ministers. BJP leaders Rao Inderjit Singh, Dr. Jitendra Singh, Arjun Ram Meghwal, Prataprao Jadhav of Shiv Sena, and RLD Chief Jayant Chaudhary took the oath as Ministers of State (Independent Charge).

During the ceremony, 36 Ministers of State also took the oath. They include BJP MPs Jitin Prasada, Shripad Yesso Naik, Pankaj Chaudhary, Nityanand Rai, Krishan Pal, V. Somanna, S.P. Singh Baghel, Shobha Karandlaje, Suresh Gopi, Raksha Khadse, Ajay Tamta, Bandi Sanjay Kumar, Kamlesh Paswan, Harsh Malhotra, Satish Dubey, and Ravneet Singh Bittu. Also sworn in were RPI’s Ramdas Athawale, Ramnath Thakur of JD(U), Anupriya Patel of Apna Dal (S), and TDP’s Dr. Pemmasani Chandrasekhar.

Several leaders from neighboring countries and the Indian Ocean region attended the swearing-in ceremony, including Sri Lankan President Ranil Wickremesinghe, Maldivian President Dr. Mohamed Muizzu, Seychelles Vice-President Ahmed Afif, Bangladeshi Prime Minister Sheikh Hasina, Mauritian Prime Minister Pravind Kumar Jugnauth, Nepali Prime Minister Pushpa Kamal Dahal ‘Prachanda,’ and Bhutanese Prime Minister Tshering Tobgay.

Notable dignitaries present at the event included Vice President Jagdeep Dhankhar, Chief Justice of India Dr. D.Y. Chandrachud, Congress President Mallikarjun Kharge, Bihar Chief Minister and JD(U) president Nitish Kumar, Andhra Pradesh Chief Minister-designate N. Chandrababu Naidu, Uttarakhand Chief Minister Pushkar Singh Dhami, Uttar Pradesh Chief Minister Yogi Adityanath, Manipur Chief Minister N. Biren Singh, Haryana Chief Minister Nayab Singh Saini, and Maharashtra Deputy Chief Minister Ajit Pawar. Celebrities such as actors Rajnikanth, Shah Rukh Khan, Akshay Kumar, Vikrant Massey, filmmaker Rajkumar Hirani, and business tycoons Mukesh Ambani and Gautam Adani also attended the event.

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BlogLok Sabha ElectionsPolitics

BJP’s Ambitious Target of 400 Lok Sabha Seats Appears Within Reach, Exit Polls Suggest

by theparliamentnews.com
written by theparliamentnews.com

New Delhi: Throughout the election season, the BJP held firm on its ambitious target of 400 Lok Sabha seats for the NDA, rallying behind the slogan ‘ab ki baar 400 paar’ despite the opposition’s relentless mockery. If three exit polls are accurate, the ruling party might have the last laugh.

Two polls have predicted ranges with figures just over 400 on the higher end, while News 24-Today’s Chanakya has forecasted a precise tally of 400 for the NDA. This number comes with a margin of error of 15 seats, indicating a potential range of 385 to 415 seats. India TV-CNX has projected a range of 371-401 seats, and India Today-Axis My India has estimated 361-401 seats.

However, it’s crucial to note that exit polls can often be incorrect.

In 2019, the NDA secured 352 seats, with the BJP winning 303 on its own. If Prime Minister Narendra Modi secures a third consecutive term, it would be historic, showcasing the party and alliance’s election prowess if the NDA reaches even the lower end of these predictions.

A tally of 361, the minimum figure predicted by India Today-Axis My India, would mean the alliance has improved its performance in each successive election, signaling minimal anti-incumbency and highlighting PM Narendra Modi’s enduring popularity.

The opposition INDIA Alliance, which claimed on Saturday that it will win 295 constituencies, has been projected to win 107 (plus-minus 11) by Today’s Chanakya, 109-139 by CNX, and 131-166 by Axis My India.

With 80 Lok Sabha seats, Uttar Pradesh remains a crucial battleground. In 2019, the BJP won 62 seats when the Samajwadi Party and Bahujan Samaj Party were allied. Now, with the Samajwadi Party allied with the Congress, all three polls predict the BJP will improve its tally in the state. News 24-Today’s Chanakya forecasts 68 (plus-minus 7) seats, India Today-Axis My India estimates 67-72 seats, and India TV-CNX projects 70-74 seats for the BJP.

All three polls also suggest the NDA will perform better in the South compared to 2019. Another significant prediction from the exit polls is that the BJP will secure more seats than the Trinamool Congress in West Bengal, with Axis My India projecting 26-31 of the state’s 42 seats for the ruling party at the Centre.

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BlogFeaturedIndiaWorld

PM Modi Acknowledges Bhutan’s Highest Civilian Award as Honor for 1.4 Billion Indians

by theparliamentnews.com
written by theparliamentnews.com

During his visit to Bhutan, Prime Minister Narendra Modi was bestowed with the prestigious ‘Order of the Druk Gyalpo’ Award by the King of Bhutan. In a humble acceptance speech, PM Modi emphasized that this honor belongs not just to him but to all 1.4 billion Indians. He expressed gratitude for the recognition and underscored the deepening ties between India and Bhutan.

“This honor is not my personal achievement, it is the honor of India and 140 crore Indians,” stated PM Modi. He further remarked that receiving an award from another country signifies the mutual progress and cooperation between nations, highlighting the positive trajectory of bilateral relations between India and Bhutan.

The ‘Order of the Druk Gyalpo’ is the highest civilian award in Bhutan and is conferred for lifetime achievements. PM Modi joins a select group of individuals to have received this esteemed recognition, including notable personalities like Royal Queen Grandmother Ashi Kesang Choden Wangchuck and Je Khenpo Trulku Ngawang Jigme Choedra.

The citation accompanying the award lauds PM Modi’s exemplary leadership on national, regional, and global fronts, citing India’s remarkable economic growth under his stewardship. It recognizes his commitment to environmental conservation and renewable energy, as well as his transformative initiatives that have propelled India onto the global stage.

Furthermore, the award citation commends PM Modi’s Neighbourhood First policy, which has bolstered regional cooperation and collective progress in South Asia. It emphasizes his pivotal role in strengthening the enduring bond between India and Bhutan, fostering mutual trust and cooperation.

In accepting the ‘Order of the Druk Gyalpo’, PM Modi reaffirmed his commitment to advancing the shared goals and aspirations of India and Bhutan. The award stands as a testament to the strong friendship and partnership between the two nations, symbolizing the deep-rooted ties and mutual respect that characterize their relationship.

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BlogFeaturedIndiaLok Sabha Elections

BJP Allocates 10 Lok Sabha Seats to PMK; Annamalai and Ramadoss agreement was formalized during a meeting at the residence

by theparliamentnews.com
written by theparliamentnews.com

On Tuesday, March 19, 2024, the Bharatiya Janata Party (BJP) allocated 10 seats for the upcoming 2024 Lok Sabha elections in Tamil Nadu to the Pattali Makkal Katchi (PMK). The agreement was formalized during a meeting at the residence of PMK founder S. Ramadoss in Thailapuram, Villupuram district, where BJP State president K. Annamalai and Ramadoss signed the deal.

The leaders engaged in discussions for nearly an hour before reaching a consensus, with PMK president Anbumani Ramadoss and former BJP State president and Union Minister of State L. Murugan also present.

Following the agreement, PMK leaders are expected to join the BJP’s public gathering in Salem today, where Prime Minister Narendra Modi is slated to address party members.

The specifics of the constituencies that PMK will contest are anticipated to be announced within the next few days.

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BlogFeatured

National Statistical Office’s Advance Estimate Predicts 7.3% Growth for Indian Economy in the Current Financial Year.

by theparliamentnews.com
written by theparliamentnews.com

India’s Gross Domestic Product (GDP) is projected to experience a 7.3 percent growth in the fiscal year 2023-24, as per the initial advance estimates of national income released by the National Statistical Office (NSO) on the previous day. The anticipated higher GDP expansion is attributed to increased investment, government expenditure, and improved outputs in key sectors such as mining, manufacturing, construction, and financial services.

In comparison to the 7.2 percent growth in the preceding year, the Indian economy is forecasted to demonstrate accelerated growth in FY24, as indicated by the initial official estimates. The Reserve Bank of India had earlier estimated a growth rate of 7 percent. The government’s assessments suggest a potential 6.9 percent growth in the second half, driven by heightened investment and manufacturing activities.

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BlogFeaturedWorld

Japan Earthquake: Toll Climbs to 57 as Rescuers Confront Aftershocks and Inclement Weather

by theparliamentnews.com
written by theparliamentnews.com

The toll from a series of powerful earthquakes in Japan, including a magnitude 7.5 quake, has risen to 57, with most fatalities reported in Wajima and Suzu on the Noto Peninsula in the hard-hit Ishikawa prefecture, according to officials cited by NHK World. Over 20 people are seriously injured, and there are fears that many remain trapped under collapsed buildings.

The earthquakes struck the Noto Peninsula in Ishikawa on Monday, causing building collapses and prompting tsunami warnings reaching as far as eastern Russia. The country’s meteorological office recorded a total of 155 earthquakes that day.

Rescue efforts faced challenges on Tuesday as aftershocks and poor weather hindered operations. The Japan Meteorological Agency (JMA) issued a warning about heavy rainfall in Noto, cautioning against landslides until Wednesday evening.

A tragic setback occurred when an aircraft carrying emergency supplies caught fire after a runway collision at Haneda airport on Tuesday, resulting in the death of five coastguard crew members.

Prime Minister Fumio Kishida emphasized the urgency of the situation, acknowledging the race against time to rescue those possibly trapped in collapsed structures. The government, led by Kishida, plans to convene an emergency task force meeting on Wednesday morning to address relief and rescue operations.

In Suzu, a coastal city severely affected by the earthquakes, Mayor Masuhiro Izumiya reported widespread devastation, stating that “almost no houses are standing.” Approximately 90% of the town’s houses are either completely or almost entirely destroyed, describing the situation as catastrophic.

Japan, accustomed to frequent earthquakes, faces the aftermath of this recent seismic activity, reminiscent of the devastating 9.0 magnitude quake in 2011, which triggered a tsunami resulting in around 18,500 casualties.”

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BlogBusinessFeatured

Assessing Market Prospects for January 2024: Navigating Historical Trends Amidst Current Positive Indicators

by theparliamentnews.com
written by theparliamentnews.com

As we enter 2024, the market has seen a 7% gain in December, an 18% return in the last two months, a 46% return in 2023, and a 57% gain in nine months from the low of March.

Over the last 16 years, the NSE midcap index and the 100 stock index, reflecting midcap and large-cap segments, have witnessed negative returns in 12 out of 16 Januarys. Averaging a 2.2% negative return, exceptions include positive years like 2012, 2015, 2017, and 2020. Notably, 2012 showcased a double-digit return after a 25% market fall in 2011.

Examining historical data reveals nuanced market behavior. In 2011, a 17% market decline preceded the positive January of 2012. Similarly, despite a robust election outcome in 2014, 2015 saw a market return of less than 15% in the prior five months. The positive January of 2017 followed a 10% demonetization-led sell-off in 2016, and 2020’s positive start was amidst recovering from the NBFC crisis.

As we step into 2024, the market closed December with a 7% gain, showcasing an 18% return in the last two months, a 46% return in 2023, and an impressive 57% gain in nine months from the March low. While these gains hold significance for traders and momentum enthusiasts, long-term investors may view them as short-term fluctuations.

Decent macro-economic fundamentals, an anticipation of lower global interest rates, and reduced election risk post BJP’s strong performance in recent state elections contribute to positive factors. While January historically presents challenges, the current positive indicators suggest the market may defy seasonal trends.

The key lies in balancing short-term considerations with a long-term perspective as we embark on the new year.

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