Indian IT Companies Invested $ 5bn in US
Indian IT companies have invested over $ 5 billion in the US through acquisitions and green field projects, according to the Indian Ambassador to the US, Ms Nirupama Rao. Addressing an Asia Society Conference in Washington, the Ambassador also pointed out that Indian companies had created 280,000 jobs in the US in 2011 when the American economy was grappling with a global slow down.
The Indian Ambassador said that she was "upbeat about the future trajectory of India-US partnership, which is full of hope, promise and opportunities for the benefit our two peoples."
Ms Rao said, "the newly established Indo-US Science and Technology Endowment Fund has given fresh impetus to the entrepreneurial and commercialization activities in science and technology for mutual benefit." The Indo-US Science and Technology Forum has also built ties among more than 11,000 US and Indian scientists.
India's 13th President Sworn In
Mr Pranab Mukherjee was sworn in as India's 13th President on 25th July 2012. He took charge from the outgoing President Ms Pratibha Patil. He is the first Indian President to hail from West Bengal, reports said.
In a brief acceptance speech, Mr. Mukherjee placed "economic equity" above all the basic "fundamentals" of a modern nation — democracy, secularism, equality of every region and language and gender equality.
He said that for real development to be achieved, "the poorest of our land must feel that they are part of the narrative of rising India".
Financial Education on the Anvil
The government is set to educate at least 500 million Indians to save, invest, borrow and insure on their own under the ambitious "National Strategy for Financial Education". The objective of the education programme is to bring more people into the formal financial system, free people from moneylenders, avoid indebtedness and promote entrepreneurship, reports said.
References: Hindustan Times, Times of India, The Hindu, Economic Times, Business Standard, Business line