News of Use:

3 new top medical institutions (AIIMS )  approved by Indian Govt  

A major and much-needed step in healthcare sector

The Indian Cabinet  has approved three new institutions of national importance for providing quality medical education and healthcare facilities Maharashtra (Nagpur), Andhra Pradesh (Manglagiri) and West Bengal (Kalyani) at a cost of Rs 4949 crore (Rs 49.49 billion) . 

The  new  All India Institutes of Medical Sciences (AllMS) shall have a hospital with capacity of 960 beds, according to a government release. 

India's healthcare sector is under-funded and lacks quality , leaving its lower strata and middle class vulnerable. 

Pic courtesy: AIMS , New Delhi 

 

Time for India to engage with trade deal with Europe; to limit damage from TPP   

European Union, India’s largest trading partner is seeking resumption of talks for a Free Trade Agreement (FTA) with the latest demand made by German Chancellor Angela Merkel. Given the fact Trans Pacific Partnership(TPP) has been clinched  among 12 nations controlling 40 pc of global economy, India needs to be pragmatic and go ahead with striking a deal with the EU that will give  favourable treatment to Indian exporters in  27 European countries. 

 Sure, in return, we have to open our market for European firms, including cars. In any case, they are here.

Yes, there was a problem involving Indian pharma in Europe, but that cannot be allowed to become a flash point for souring of relations with top economies like Germany, France, Italy on permanent basis…It would be like the UPA Government putting everything on stake with the US while throwing its weight behind its controversial Foreign service officer - Devyani Kobragade.

Indian exporters are in trouble with their shipments dropping by 16.17 per cent for April-August period of fiscal 2015-16 . So, when the Commerce Ministry is reviewing how to make Indian exports competitive, it  must consider EU offer of reviving the talks and not sit on false prestige….Trade talks with serious partners cannot be treated like India-Pakistan dialogue marked by jingoism on both the sides.  

This is all the more important in the wake of distress in the entire commodity business – steel, iron ore, copper, aluminium. According to a report in Business Standard,  the valuation of four metal firms –SAIL, Vedanta, Tata Steel and Hindalco, is at a 25-year low.

The situation is not going to improve as China is not expected to come out of its immediate and serious woes. It is projected to expand by 6.3 per cent this year, lowest in 25 years.  The IMF has projected the world economy to  grow just about 3.1 per cent in 2015 and 3.6 per cent next year.  Even India’s growth projections have been lowered to 7.3 per cent from July forecast of 7.5 per cent.

So, when leader of stature of Merkel makes a gesture and seeks resumption of talks on FTA with Europe, we cannot afford to remain indifferent just because we felt that Brussel had been snooty, once.   Once is not once for all!  

Pic source: PIB, GOI