Four more MoUs are in the pipeline to be signed with GIA: Karnataka Deputy CM C N Ashwath Narayan
Bengaluru: Karnataka Deputy Chief Minister C N Ashwath Narayan on Saturday said four more MoUs are in the pipeline to be signed with global innovation alliance (GIA) partner countries, including the US, mainly in the aerospace sector.
The Deputy Chief Minister said this at the conclusion of the Bengaluru Tech Summit 2020 here which was inaugurated by Prime Minister Narendra Modi on November 19.
"This summit has witnessed 8 MoUs with our partner countries and four more are in the pipeline. Out of which two MoUs will be signed with the USA in the aerospace sector," Narayan was quoted as saying by his office in a release.
"We are expecting exchange of ideas in this sector between India and our global innovation alliance partner countries which may translate into investments in the future," he said.
The government on Friday had announced 8 MoUs and intentions for collaboration with partner countries.
The countries Finland, Netherlands, Sweden, UK, and the USA-- showed their intent in partnering with the government of Karnataka in the areas of skilling, R&D, ecosystem connects, life science and biotechnology, healthcare, aerospace and defense, education, sports economy, and automotive, it had said.
Narayan said Bengaluru has always taken charge to lead the transformation of India with innovation, science, and technology.
"The theme of this year's summit was 'Next is Now', building on the success of our event last year. Innovation, especially in leveraging disruptive technologies, is the need of the hour.
Through the sessions, panels, presentations, knowledge caf, etc., we have created a larger platform for the exchange of knowledge and ideas," he said.
He added that the Covid-19 pandemic has highlighted the need for rapid innovation, synergies between biotechnology and information technology, and global cooperation.
The DCM said the dates of 'BTS 2021' will be announced. However, it will be held in November.
"The next BTS will be conducted physically and virtually for extending its global reach," he said.
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Extreme weather may pose risk to inflation, says RBI Bulletin
Mumbai (PTI): Extreme weather conditions may pose a risk to inflation, along with prolonged geopolitical tensions that could keep crude oil prices volatile, the Reserve Bank's April Bulletin said on Tuesday.
The retail based on the Consumer Price Index (CPI) has eased to 4.9 per cent in March after averaging 5.1 per cent in the preceding two months.
The Reserve Bank, which mainly factors in CPI while arriving at its bi-monthly monetary policy, has kept the key interest rate unchanged at 6.5 per cent since February 2023, citing concerns on the inflation front.
An article on 'State of the Economy' published in the Bulletin further said global growth momentum has been sustained in the first quarter of 2024, and the outlook for world trade is turning positive.
Treasury yields and mortgage rates are ticking up in major economies as expectations of interest rate cuts are being pared.
"In India, conditions are shaping up for an extension of a trend upshift in real GDP growth, backed by strong investment demand and upbeat business and consumer sentiments," the article said.
The RBI, however, said the views expressed in the Bulletin article are of the authors and do not represent the views of the Reserve Bank of India.
