General Affairs
'An Old Friend Better Than 2 New Ones': PM Modi After Putin Meet
-
GOA: "One old friend is better than two new ones," said Prime Minister Narendra Modi, using an old Russian proverb to describe the solid, seven decade long friendship with Moscow, dating back to the Soviet era, after the two leaders held summit-level talks on the sidelines of the BRICS meeting in Goa today.
Along with President Vladimir Putin, PM Modi watched the signing of 16 agreements, including key defence deals for purchase and manufacturing of helicopters, the purchase of the S-400 air defence system and naval frigates - all worth billions of dollars. The two sides also signed Memorandums of Understanding (MoUs) on developing smart cities, transport logistics, shipbuilding and railways in Andhra Pradesh, and cooperation in oil and gas among others. The two leaders also announced the launch of phase two of the Kudankulam nuclear reactor, done via video conference, as well the foundation stone for phases three and four.
During their talks, Indian officials said PM Modi had expressed his appreciation for supportive statements from Moscow after last month's Uri attack, in which 19 soldiers died. Today's meeting precedes the main BRICS summit, and Indian officials working on the Goa declaration have been pushing for terrorism as a common challenge to find its way into the final document.
Responding to a question on how the other nations feel about India bringing in Pakistan-sponsored terrorism high on the BRICS meeting agenda in Goa, Foreign Secretary S Jaishankar said while BRICS was "envisaged as a global grouping located in different parts of the world with a united approach to global issues of development and economics, it has never shied away from political issues of the day." In the past, BRICS declarations have included statements on the Middle East crisis. "No country anywhere in the world is agnostic on the issue of terrorism," he said.
BRICS - Brazil, Russia, India, China and South Africa - which was inducted in 2010, was intended to be a forum for developing and fast growing economies with an agenda for development, working with international systems and boosting global trade. The term BRIC was coined by an economist from Goldman Sachs in 2001- the bank even had a fund specifically for these emerging economies until 2011 when it expanded it to include other emerging markets as BRICS countries have been impacted by significant slowdowns, scandals and recessions. While it can be argued that terrorism is often an impediment in the way of growth, BRICS's relevance today hinges on its ability to bring the focus back on its original mission, in spite of the challenge.
Along with President Vladimir Putin, PM Modi watched the signing of 16 agreements, including key defence deals for purchase and manufacturing of helicopters, the purchase of the S-400 air defence system and naval frigates - all worth billions of dollars. The two sides also signed Memorandums of Understanding (MoUs) on developing smart cities, transport logistics, shipbuilding and railways in Andhra Pradesh, and cooperation in oil and gas among others. The two leaders also announced the launch of phase two of the Kudankulam nuclear reactor, done via video conference, as well the foundation stone for phases three and four.
Responding to a question on how the other nations feel about India bringing in Pakistan-sponsored terrorism high on the BRICS meeting agenda in Goa, Foreign Secretary S Jaishankar said while BRICS was "envisaged as a global grouping located in different parts of the world with a united approach to global issues of development and economics, it has never shied away from political issues of the day." In the past, BRICS declarations have included statements on the Middle East crisis. "No country anywhere in the world is agnostic on the issue of terrorism," he said.
BRICS - Brazil, Russia, India, China and South Africa - which was inducted in 2010, was intended to be a forum for developing and fast growing economies with an agenda for development, working with international systems and boosting global trade. The term BRIC was coined by an economist from Goldman Sachs in 2001- the bank even had a fund specifically for these emerging economies until 2011 when it expanded it to include other emerging markets as BRICS countries have been impacted by significant slowdowns, scandals and recessions. While it can be argued that terrorism is often an impediment in the way of growth, BRICS's relevance today hinges on its ability to bring the focus back on its original mission, in spite of the challenge.
India, China To Hold Second Round Of Talks On Nuke Club Membership
-
India and China will soon hold a dialogue on New Delhi's bid for membership of the elite Nuclear Suppliers Group (NSG) in which it hopes "differences" will be narrowed down.
President Xi Jinping told Prime Minister Narendra Modi that a second round of dialogues on the issue of India's entry into the NSG, over which China has reservations, will be held soon.
"This will be helpful. President Xi told PM," MEA Spokesperson Vikas Swarup told reporters after the meeting held on the sidelines of the BRICS summit on Sunday.
The Chinese President's word on the issue came after the Prime Minister told him that India was looking forward to working with China on realising its membership of the NSG.
Replying to questions whether China has softened on its stand on India's membership, Mr Swarup said, "This shows there is dialogue, a good strategic dialogue. Of course, this will narrow differences."
Asked whether China reiterated the position that membership of the NSG was by consensus among parties, he replied "no".
Last month, a Chinese delegation led by Director General of Department of Arms Control Wang Qun had visited India for talks on the issue with Indian officials.
In the June Plenary of NSG in Seoul, despite strong American support, China stonewalled India's bid to get entry into the group on the grounds that it was a not a signatory to the Nuclear Non-Proliferation Treaty (NPT).
President Xi Jinping told Prime Minister Narendra Modi that a second round of dialogues on the issue of India's entry into the NSG, over which China has reservations, will be held soon.
"This will be helpful. President Xi told PM," MEA Spokesperson Vikas Swarup told reporters after the meeting held on the sidelines of the BRICS summit on Sunday.
Replying to questions whether China has softened on its stand on India's membership, Mr Swarup said, "This shows there is dialogue, a good strategic dialogue. Of course, this will narrow differences."
Asked whether China reiterated the position that membership of the NSG was by consensus among parties, he replied "no".
Last month, a Chinese delegation led by Director General of Department of Arms Control Wang Qun had visited India for talks on the issue with Indian officials.
In the June Plenary of NSG in Seoul, despite strong American support, China stonewalled India's bid to get entry into the group on the grounds that it was a not a signatory to the Nuclear Non-Proliferation Treaty (NPT).
India, US Would Be 'Best Friends' If Elected As President: Donald Trump
-
Terming India a "key strategic ally", Republican presidential nominee Donald Trump has promised that if voted to power India and the US would become "best friends" and have a "phenomenal future" together.
"Under a Trump Administration, we are going to become even better friends. In fact I would take the term better out and we would be best friends," Mr Trump, 70, told a cheering crowd of Indian-Americans at a charity event organised by the Republican Hindu Coalition.
"We are going to have a phenomenal future together," Mr Trump said as he praised Prime Minister Narendra Modi for boosting economic growth in India with a series of economic reforms and reforming the bureaucracy, which he said are required in the US too.
"I look forward to working with Prime Minister Modi," he said, adding that the Indian leader is very energetic. It was for the first time a presidential candidate attended an Indian American event this election season.
"I am a big fan of Hindus and I am a big fan of India. If elected, the Indian and Hindu community would have a true friend at the White House," Mr Trump said, adding that he has great confidence in PM Modi and India.
"I was there 19 months ago and look forward to going there many, many times," he said at the event.
Mr Trump appreciated India's role in fight against terrorism.
"We appreciate the great friend India has been to the US in the fight against radical Islamic terrorism," he said as he slammed his Democratic rival Hillary Clinton for not using this word. Mr Trump said India had seen brutality of terrorism, including the 26/11 Mumbai attacks.
"Mumbai, a city, I love. The attack on India was absolutely outrageous," he said while assuring some 5,000 Indian-Americans at the event that if he becomes the president, the US would "share soldier to soldier together" in the fight against terrorism.
"India is key and a key strategic ally," he said, adding that he looks forward to deepening and strengthening military cooperation with India.
In his welcome address, the Republican Hindu Coalition founder and chairman said that this is the first time in the history that a major presidential candidate has addressed Hindu-Americans just three weeks before the election.
He urged Hindus to support and vote for Mr Trump in the upcoming general election and help fight terrorism.
"Under a Trump Administration, we are going to become even better friends. In fact I would take the term better out and we would be best friends," Mr Trump, 70, told a cheering crowd of Indian-Americans at a charity event organised by the Republican Hindu Coalition.
"I look forward to working with Prime Minister Modi," he said, adding that the Indian leader is very energetic. It was for the first time a presidential candidate attended an Indian American event this election season.
"I am a big fan of Hindus and I am a big fan of India. If elected, the Indian and Hindu community would have a true friend at the White House," Mr Trump said, adding that he has great confidence in PM Modi and India.
"I was there 19 months ago and look forward to going there many, many times," he said at the event.
Mr Trump appreciated India's role in fight against terrorism.
"We appreciate the great friend India has been to the US in the fight against radical Islamic terrorism," he said as he slammed his Democratic rival Hillary Clinton for not using this word. Mr Trump said India had seen brutality of terrorism, including the 26/11 Mumbai attacks.
"Mumbai, a city, I love. The attack on India was absolutely outrageous," he said while assuring some 5,000 Indian-Americans at the event that if he becomes the president, the US would "share soldier to soldier together" in the fight against terrorism.
"India is key and a key strategic ally," he said, adding that he looks forward to deepening and strengthening military cooperation with India.
In his welcome address, the Republican Hindu Coalition founder and chairman said that this is the first time in the history that a major presidential candidate has addressed Hindu-Americans just three weeks before the election.
He urged Hindus to support and vote for Mr Trump in the upcoming general election and help fight terrorism.
In Historic Kigali Agreement, India Agrees To 'Freeze' Use Of Air Conditioning Gas
-
India on Saturday was among the 197 nations to sign a binding agreement in Rwanda's capital Kigali to phase out the use of hydrofluorocarbon or (HFC) gases, primarily found in air conditioners. The deal comes two weeks after India ratified the Paris agreement on climate change.
In the landmark step, the nations have struck a legally-binding deal after intense negotiations to phase down hydrofluorocarbons.
Unlike other heat trapping gases like carbon dioxide, HFC gases are considered to be more potent in their ability to trap heat and cause global climate change.
While India had all along said that it wanted to be a part of a global effort to combat climate change, it had also maintained that a switch over to alternate gases would be expensive.
Terming the deal as historic, Prime Minister Narendra Modi congratulated the countries for coming together for contributing to a greener Earth and said it would provide a mechanism for countries like India to access and develop technologies that leave a low carbon footprint.
Indian officials led by Environment Minister Anil Madhav Dave had conducted two rounds of meetings with US Secretary of State John Kerry in Kigali before signing of the agreement.
The agreement binds India to reduce the use of HFC gasses by 10 per cent by 2032, while developed countries have to start making reductions by 2019. In exchange to this, India has agreed to a 'freeze year' of 2028 by when its HFC use cannot grow any further.
It has however said that it will review the technology available in 2022 to determine if it can meet the 2028 deadline for a freeze year or push it by 2030.
"Agreement will lead to a reduction of 0.5 degree in global temp by the end of the century & enable us to achieve the goals set in Paris," PM Modi said.
Scientists have warned that unless drastic steps are taken to prevent temperature rise, the world will witness more intense weather phenomenon like hurricanes, rainfall and expected to have far reaching and irreversible changes across the planet.
In the landmark step, the nations have struck a legally-binding deal after intense negotiations to phase down hydrofluorocarbons.
Unlike other heat trapping gases like carbon dioxide, HFC gases are considered to be more potent in their ability to trap heat and cause global climate change.
Terming the deal as historic, Prime Minister Narendra Modi congratulated the countries for coming together for contributing to a greener Earth and said it would provide a mechanism for countries like India to access and develop technologies that leave a low carbon footprint.
Indian officials led by Environment Minister Anil Madhav Dave had conducted two rounds of meetings with US Secretary of State John Kerry in Kigali before signing of the agreement.
The agreement binds India to reduce the use of HFC gasses by 10 per cent by 2032, while developed countries have to start making reductions by 2019. In exchange to this, India has agreed to a 'freeze year' of 2028 by when its HFC use cannot grow any further.
It has however said that it will review the technology available in 2022 to determine if it can meet the 2028 deadline for a freeze year or push it by 2030.
"Agreement will lead to a reduction of 0.5 degree in global temp by the end of the century & enable us to achieve the goals set in Paris," PM Modi said.
Scientists have warned that unless drastic steps are taken to prevent temperature rise, the world will witness more intense weather phenomenon like hurricanes, rainfall and expected to have far reaching and irreversible changes across the planet.
Security Of Indian Ocean Linked To Stability Of Global Economy: US Official
-
EDISON, NEW JERSEY: Observing that security of the Indian Ocean is "inextricably" linked to the stability of global economy, a senior US diplomat has underscored the need for maritime cooperation between India, Sri Lanka and Bangladesh in this regard.
"Maritime security in the Indian Ocean will depend more and more on the ability of countries like India, Sri Lanka, and Bangladesh to work with each other, and partners like America, to uphold international norms like freedom of navigation," said Manpreet Singh Anand, Deputy Assistant Secretary of State for South and Central Asian.
"You can plainly see how the security of the Indian Ocean is inextricably linked to the stability of the global economy," Mr Anand said in his address to the Pacific Council Members in Los Angeles on Friday.
He said the "stability inland" also depended on how well these countries can combat piracy and trafficking of drugs, weapons, and people on the high seas.
Mr Anand noted that South Asia had a tremendous growth potential as the region boasts more working-age people than anywhere else in the world with its economies growing at an average of over seven per cent.
Noting that over 250 million South Asians will move into cities in the next 15 years, creating strong demand for infrastructure and services, Mr Anand said the World Bank estimates that the region will need about $2.5 trillion in infrastructure investment over the next ten years to reach its full economic potential.
"While the countries of South Asia are increasingly trading more around the globe, the region is still one of the least economically-integrated in the world, with less than six per cent of its total trade and less than one per cent of its investment flows occurring from within the region," he said.
"Maritime security in the Indian Ocean will depend more and more on the ability of countries like India, Sri Lanka, and Bangladesh to work with each other, and partners like America, to uphold international norms like freedom of navigation," said Manpreet Singh Anand, Deputy Assistant Secretary of State for South and Central Asian.
He said the "stability inland" also depended on how well these countries can combat piracy and trafficking of drugs, weapons, and people on the high seas.
Mr Anand noted that South Asia had a tremendous growth potential as the region boasts more working-age people than anywhere else in the world with its economies growing at an average of over seven per cent.
Noting that over 250 million South Asians will move into cities in the next 15 years, creating strong demand for infrastructure and services, Mr Anand said the World Bank estimates that the region will need about $2.5 trillion in infrastructure investment over the next ten years to reach its full economic potential.
"While the countries of South Asia are increasingly trading more around the globe, the region is still one of the least economically-integrated in the world, with less than six per cent of its total trade and less than one per cent of its investment flows occurring from within the region," he said.
Business Affairs
India, Russia seal big ticket defence deals
-
India and Russia today sealed a number of big ticket defence deals including purchase of missile systems, frigates and joint production of helicopters besides deciding to deepen cooperation in a range of crucial sectors even as the two close allies resolved to fight the menace of terrorism unitedly.
Prime Minister Narendra Modi and Russian President Vladimir Putin held wide-ranging talks covering the entire expanse of bilateral engagement following which the two sides signed a total of 16 MoUs and made three announcements to boost ties in sectors like trade and investment, hydrocarbons, space and smart cities.
The two leaders also dedicated the unit two of Kudankulum nuclear power plant and witnessed foundation laying of its Unit 3 and 4.
The defence deals included India buying the 'gamechanger' S-400 Triumf air defence systems from Russia at a cost of over USD 5 billion. The two countries will also collaborate in making four state of art frigates besides setting up a joint production facility for making Kamov helicopters.
Reading out a statement to the media in the presence of Putin, the Prime Minister appreciated Russia's understanding and support of India's actions to fight cross-border terrorism, an oblique reference to India's surgical strike across the LoC targeting terror launch pads.
"Russia's clear stand on the need to combat terrorism mirrors our own. We deeply appreciate Russia's understanding and support of our actions to fight cross-border terrorism, that threatens our entire region.
"We both affirmed the need for zero tolerance in dealing with terrorists and their supporters," Modi said.
Putin, on his part, said both countries have close cooperation in fighting terrorism.
Modi said the "highly productive" outcomes of the meeting clearly establish the special and privileged nature of strategic partnership between the two countries.
"They also lay the foundations for deeper defence and economic ties in years ahead. The agreements on manufacturing of Kamov 226T helicopters; constructions of frigates; and acquisition and building of other defence platforms are in synergy with India's technology and security priorities," he said.
The two sides signed an Inter Governmental Agreement for the purchase of S-400 'Triumf' long-range air defence missile system which has the capability to destroy incoming hostile aircraft, missiles and even drones at ranges of up to 400 km.
Another important deal is for four Admiral Grigorovich-class (Project 11356) guided-missile stealth frigates.
Modi said they have agreed to work on an annual military industrial conference that will allow stakeholders on both sides to institute and push collaboration.
"These projects are new chapters in a long history of strong and diverse defence partnership that both sides can take much pride in," he said.
He said, "We are working to model a partnership that befits our common ambition and meets our shared goals for the twenty-first (21st) century.
"Our close friendship has given clear direction, fresh impulse, stronger momentum and rich content to our ties.In the emerging regional and global landscape, it has been a source of strength and substance, a driver of peace and a factor of stability."
On cooperation in atomic sector, he said the dedication of Kudankulum 2 and laying of foundation concrete of Kundankulum 3 and 4 were examples of tangible results of India-Russia cooperation in the field.
"And, with proposed construction of another eight reactors, our wide ranging cooperation in nuclear energy is set to bring rich dividends for both of us. It also fits in with our needs of energy security, access to high technology and greater localization and manufacturing in India," said the Prime Minister.
Talking about India's expanding presence in Russia's hydrocarbon sector, he said in last four months alone, Indian companies have invested close to USD 5.5 billion in that country's Oil and Gas sector.
"And, with President Putin's support, we are ready and willing to expand the scope of our engagement further. We are also undertaking a joint study of a gas pipeline route between our two countries.
"A combination of robust civil nuclear cooperation, LNG sourcing, partnership in the Oil and Gas sector, and engagement in renewables can construct a promising 'Energy Bridge' between our two countries," he said.
The Prime Minister said the two countries also agreed to set up a Science and Technology Commission.
"Through this our societies will reap the benefits of joint development, transfer and sharing of cutting edge technologies in different fields," he said.
On trade ties, Modi said both countries continue to expand, diversify and deepen economic engagement.
"Businesses and industry between our two countries are connected more deeply today. Trade and investment ties are on the upswing.
"And, with President Putin's backing, we hope to fast track India's association with Eurasian Economic Union Free Trade Agreement," he said.
Modi added that efforts by the two sides for early setting up of the Investment Fund of USD 1 billion between National Investment and Infrastructure Fund (NIIF) and Russia Direct Investment Fund (RDIF) will help advance infrastructure partnership.
The Prime Minister said success of the Summit "shines a spotlight on the abiding strength of India-Russia strategic partnership.
"It also highlights our strong convergence of views and positions on pressing international and regional issues," he said.
Modi said both he and Putin noted the similarity of views on the situation in Afghanistan and turmoil in West Asia.
"We also agreed to work closely to respond to the challenges posed by the unsettled nature of the global economic and financial markets. Our close collaboration at the United Nations, BRICS, East Asia Summit, G-20 and Shanghai Cooperation Organization makes our partnership truly global, both in its scope and coverage," he said.
India and Russia today sealed a number of big ticket defence deals including purchase of missile systems, frigates and joint production of helicopters besides deciding to deepen cooperation in a range of crucial sectors even as the two close allies resolved to fight the menace of terrorism unitedly.
Prime Minister Narendra Modi and Russian President Vladimir Putin held wide-ranging talks covering the entire expanse of bilateral engagement following which the two sides signed a total of 16 MoUs and made three announcements to boost ties in sectors like trade and investment, hydrocarbons, space and smart cities.
The two leaders also dedicated the unit two of Kudankulum nuclear power plant and witnessed foundation laying of its Unit 3 and 4.
The defence deals included India buying the 'gamechanger' S-400 Triumf air defence systems from Russia at a cost of over USD 5 billion. The two countries will also collaborate in making four state of art frigates besides setting up a joint production facility for making Kamov helicopters.
Reading out a statement to the media in the presence of Putin, the Prime Minister appreciated Russia's understanding and support of India's actions to fight cross-border terrorism, an oblique reference to India's surgical strike across the LoC targeting terror launch pads.
"Russia's clear stand on the need to combat terrorism mirrors our own. We deeply appreciate Russia's understanding and support of our actions to fight cross-border terrorism, that threatens our entire region.
"We both affirmed the need for zero tolerance in dealing with terrorists and their supporters," Modi said.
Putin, on his part, said both countries have close cooperation in fighting terrorism.
Modi said the "highly productive" outcomes of the meeting clearly establish the special and privileged nature of strategic partnership between the two countries.
"They also lay the foundations for deeper defence and economic ties in years ahead. The agreements on manufacturing of Kamov 226T helicopters; constructions of frigates; and acquisition and building of other defence platforms are in synergy with India's technology and security priorities," he said.
The two sides signed an Inter Governmental Agreement for the purchase of S-400 'Triumf' long-range air defence missile system which has the capability to destroy incoming hostile aircraft, missiles and even drones at ranges of up to 400 km.
Another important deal is for four Admiral Grigorovich-class (Project 11356) guided-missile stealth frigates.
Modi said they have agreed to work on an annual military industrial conference that will allow stakeholders on both sides to institute and push collaboration.
"These projects are new chapters in a long history of strong and diverse defence partnership that both sides can take much pride in," he said.
He said, "We are working to model a partnership that befits our common ambition and meets our shared goals for the twenty-first (21st) century.
"Our close friendship has given clear direction, fresh impulse, stronger momentum and rich content to our ties.In the emerging regional and global landscape, it has been a source of strength and substance, a driver of peace and a factor of stability."
On cooperation in atomic sector, he said the dedication of Kudankulum 2 and laying of foundation concrete of Kundankulum 3 and 4 were examples of tangible results of India-Russia cooperation in the field.
"And, with proposed construction of another eight reactors, our wide ranging cooperation in nuclear energy is set to bring rich dividends for both of us. It also fits in with our needs of energy security, access to high technology and greater localization and manufacturing in India," said the Prime Minister.
Talking about India's expanding presence in Russia's hydrocarbon sector, he said in last four months alone, Indian companies have invested close to USD 5.5 billion in that country's Oil and Gas sector.
"And, with President Putin's support, we are ready and willing to expand the scope of our engagement further. We are also undertaking a joint study of a gas pipeline route between our two countries.
"A combination of robust civil nuclear cooperation, LNG sourcing, partnership in the Oil and Gas sector, and engagement in renewables can construct a promising 'Energy Bridge' between our two countries," he said.
The Prime Minister said the two countries also agreed to set up a Science and Technology Commission.
"Through this our societies will reap the benefits of joint development, transfer and sharing of cutting edge technologies in different fields," he said.
On trade ties, Modi said both countries continue to expand, diversify and deepen economic engagement.
"Businesses and industry between our two countries are connected more deeply today. Trade and investment ties are on the upswing.
"And, with President Putin's backing, we hope to fast track India's association with Eurasian Economic Union Free Trade Agreement," he said.
Modi added that efforts by the two sides for early setting up of the Investment Fund of USD 1 billion between National Investment and Infrastructure Fund (NIIF) and Russia Direct Investment Fund (RDIF) will help advance infrastructure partnership.
The Prime Minister said success of the Summit "shines a spotlight on the abiding strength of India-Russia strategic partnership.
"It also highlights our strong convergence of views and positions on pressing international and regional issues," he said.
Modi said both he and Putin noted the similarity of views on the situation in Afghanistan and turmoil in West Asia.
"We also agreed to work closely to respond to the challenges posed by the unsettled nature of the global economic and financial markets. Our close collaboration at the United Nations, BRICS, East Asia Summit, G-20 and Shanghai Cooperation Organization makes our partnership truly global, both in its scope and coverage," he said.
Rosneft-led group acquires Essar Oil for nearly USD 13 bn
-
Russia's state-controlled oil giant Rosneft and its partners today took over India's second biggest private oil firm Essar Oil in an all-cash deal valued at about USD 13 billion.
Rosneft bought a 49 per cent stake in Essar Oil's refinery port and petrol pumps, while Netherlands-based Trafigura Group Pte, one of the world's biggest commodity trading companies, and Russian investment fund United Capital Partners split another 49 per cent equity equally.
The remaining 2 per cent is held by minority shareholders after delisting of Essar Oil.
The deal has an enterprise value of close to USD 13 billion, which includes Essar Oil's debt of USD 4.5 billion and about USD 2 billion debt with the port company and power plant. Also, the near USD 3 billion dues to Iran for past oil purchases will continue to be on Essar Oil books.
Essar Oil, part of a steel-to-ports conglomerate controlled by the billionaire Ruia brothers, operates a 405,000-barrels-a-day refinery at Vadinar in Gujarat. The refining complex also has a captive power plant as well as a port and terminal facilities.
Essar Oil said it has signed two agreements for the sale.
"The first sale and purchase agreement envisages the sale of 49 per cent to Petrol Complex Pte Ltd (a subsidiary of PJSC Rosneft Oil Company); the second envisages the sale of the remaining 49 per cent to Kesani Enterprises Company Limited (owned by a consortium led by Trafigura and United Capital Partners) at an enterprise valuation of Rs 72,800 crore (USD 10.9 billion).
"An additional Rs 13,300 crore (USD 2 billion) will be paid for the acquisition of Vadinar Port, which has world-class storage and import/export facilities," it said
The deal would help the Essar Group, one of India's largest and most indebted conglomerates, trim its about Rs 88,000 crore (over USD 13 billion) debt and ward off creditor pressure.
The deal was announced as Indian Prime Minister Narendra Modi met Russian President Vladimir Putin during a meeting of the leaders of the BRICS countries here.
The deal is the single largest foreign investment in the Indian refining sector and will strengthen the ties between the world's largest oil producer and the world's fastest growing fuel consumer.
The acquisition is the biggest foreign acquisition ever in India and Russia's largest outbound deal.
The all cash deal is expected to close in first quarter of 2017.
"The all-cash deal encompasses Essar Oil's 20 million tonne refinery in Gujarat and its pan-India retail outlets," said Prashant Ruia, Director, Essar Group.
"The closing of the transaction is conditional upon receiving requisite regulatory approvals and other customary conditions. We expect to obtain the relevant approvals before the end of this year," he said.
Ruia further said the 20 million tonne oil refinery in Vadinar accounts for 9 per cent of India's total refining output and is supported by a 1,010 MW captive power plant.
"The additional Rs 13,300 crore that the new stakeholders have agreed to pay is for the 58 million tonne deep draft port in Vadinar that helps in importing crude and exporting finished products," he said.
The deal includes the refinery as well as the Vadinar port and more than 2,700 retail gas stations. The initial transaction will not include a power plant serving the refinery, which could be transferred later after getting necessary approvals.
Initially, Ruias wanted to shed only 49 per cent in favour of Rosneft but the USD 3.2 billion they would have got from the Russian company wasn't enough to pay off the USD 4.5 billion debt on the company's books.
A larger 74 per cent stake was offered to Rosneft but that idea was dropped as the Russian company faces US sanctions and by a virtue of its majority stake Essar Oil too would have come on that list.
At this stage, Trafigura was roped in and offered 24 per cent stake. Trafigura, which has close ties to Rosneft, was to finance its acquisition by taking loan from Russia's VTB Capital, part of state-controlled bank VTB.
Sources said Trafigura is likely to take 24.5 per cent stake and UCP a matching interest.
The deal includes the Vadinar refinery as well as the Vadinar port and more than 2,700 petrol pumps. A power plant serving the refinery as well as company's coal-bed methane (CBM) blocks are not included in the deal.
As part of the deal, Rosneft-Trafigura will also take over the debt of Essar Oil and the port and terminal company.
Last year, US Treasury's Office of Foreign Assets Control (OFAC) had issued a Crimea Sanctions Advisory, adding Rosneft and its subsidiaries to its Sectoral Sanctions Identifications List in retaliation for the Russian's invasion of eastern Ukraine.
Entities on this list are subject to economic and trade sanctions on grounds that they pose a risk to US national security and are in violation of US foreign policy objectives.
Rosneft had in July last year signed a non-binding agreement to buy a 49 per cent stake in Essar Oil. This was followed by December 2015 deal wherein Rosneft was to supply Vadinar refinery with 200,000 barrels of crude per day (10 million tons a year) for 10 years.
Sources said Trafigura may at a later stage transfer its stake to Rosneft.
Trafigura handles most of the crude exported by Rosneft.
This has propelled Trafigura to being the world's second-biggest independent oil trader, handling more than 4 million barrels a day.
Russia is seeking to expand its energy ties in Asia amid tensions with the West sparked by Moscow's annexation of Crimea in 2014.
Rosneft, the world's largest listed oil producer by output, is looking at south Asia for downstream investments as it sees the region as becoming a fast-growing market for its oil.
India -- which depends on imports for about 80 per cent of its needs -- is set to taking over from China as the main driver of global oil demand growth this year. India is the world's third-largest oil consumer, behind China and the US.
Rosneft is reportedly discussing investing USD 13 billion in a new refinery project in Indonesia with Pertamina, the country's state-controlled oil and gas company.
Russian oil producers have been relatively sheltered from the collapse in crude prices by the decline of the rouble, which has helped them to reduce costs. A progressive taxation system under which the Russian government has absorbed most of the decline in oil prices has also boosted the producers.
Russia has signed huge deals to deliver oil and gas to China and allowed Chinese companies to buy stakes in large energy projects.
Indian companies have also snapped up stakes in production assets in Siberian fields. ONGC, Oil India and Indian Oil are investing USD 5.5 billion to buy stakes in Rosneft's Vankor and Taas-Yuryakh fields.
Chinese and Indian state firms have expressed an interest in taking a stake in Rosneft, as the Russian state plans to sell 19.5 per cent of the company this year. The state would retain control of the company, in which BP of UK already has a near 20 per cent stake.
Russia ranked 20th among countries with a total investment of just about USD 1.2 billion in India in the last 16 years. Mauritius gave nearly USD 96 billion, while Singapore and the UK have invested USD 46 billion and USD 23 billion each in India.
Oil sector attracted about USD 6.68 billion in foreign investment.
Russia's state-controlled oil giant Rosneft and its partners today took over India's second biggest private oil firm Essar Oil in an all-cash deal valued at about USD 13 billion.
Rosneft bought a 49 per cent stake in Essar Oil's refinery port and petrol pumps, while Netherlands-based Trafigura Group Pte, one of the world's biggest commodity trading companies, and Russian investment fund United Capital Partners split another 49 per cent equity equally.
The remaining 2 per cent is held by minority shareholders after delisting of Essar Oil.
The deal has an enterprise value of close to USD 13 billion, which includes Essar Oil's debt of USD 4.5 billion and about USD 2 billion debt with the port company and power plant. Also, the near USD 3 billion dues to Iran for past oil purchases will continue to be on Essar Oil books.
Essar Oil, part of a steel-to-ports conglomerate controlled by the billionaire Ruia brothers, operates a 405,000-barrels-a-day refinery at Vadinar in Gujarat. The refining complex also has a captive power plant as well as a port and terminal facilities.
Essar Oil said it has signed two agreements for the sale.
"The first sale and purchase agreement envisages the sale of 49 per cent to Petrol Complex Pte Ltd (a subsidiary of PJSC Rosneft Oil Company); the second envisages the sale of the remaining 49 per cent to Kesani Enterprises Company Limited (owned by a consortium led by Trafigura and United Capital Partners) at an enterprise valuation of Rs 72,800 crore (USD 10.9 billion).
"An additional Rs 13,300 crore (USD 2 billion) will be paid for the acquisition of Vadinar Port, which has world-class storage and import/export facilities," it said
The deal would help the Essar Group, one of India's largest and most indebted conglomerates, trim its about Rs 88,000 crore (over USD 13 billion) debt and ward off creditor pressure.
The deal was announced as Indian Prime Minister Narendra Modi met Russian President Vladimir Putin during a meeting of the leaders of the BRICS countries here.
The deal is the single largest foreign investment in the Indian refining sector and will strengthen the ties between the world's largest oil producer and the world's fastest growing fuel consumer.
The acquisition is the biggest foreign acquisition ever in India and Russia's largest outbound deal.
The all cash deal is expected to close in first quarter of 2017.
"The all-cash deal encompasses Essar Oil's 20 million tonne refinery in Gujarat and its pan-India retail outlets," said Prashant Ruia, Director, Essar Group.
"The all-cash deal encompasses Essar Oil's 20 million tonne refinery in Gujarat and its pan-India retail outlets," said Prashant Ruia, Director, Essar Group.
"The closing of the transaction is conditional upon receiving requisite regulatory approvals and other customary conditions. We expect to obtain the relevant approvals before the end of this year," he said.
Ruia further said the 20 million tonne oil refinery in Vadinar accounts for 9 per cent of India's total refining output and is supported by a 1,010 MW captive power plant.
"The additional Rs 13,300 crore that the new stakeholders have agreed to pay is for the 58 million tonne deep draft port in Vadinar that helps in importing crude and exporting finished products," he said.
The deal includes the refinery as well as the Vadinar port and more than 2,700 retail gas stations. The initial transaction will not include a power plant serving the refinery, which could be transferred later after getting necessary approvals.
Initially, Ruias wanted to shed only 49 per cent in favour of Rosneft but the USD 3.2 billion they would have got from the Russian company wasn't enough to pay off the USD 4.5 billion debt on the company's books.
A larger 74 per cent stake was offered to Rosneft but that idea was dropped as the Russian company faces US sanctions and by a virtue of its majority stake Essar Oil too would have come on that list.
At this stage, Trafigura was roped in and offered 24 per cent stake. Trafigura, which has close ties to Rosneft, was to finance its acquisition by taking loan from Russia's VTB Capital, part of state-controlled bank VTB.
Sources said Trafigura is likely to take 24.5 per cent stake and UCP a matching interest.
The deal includes the Vadinar refinery as well as the Vadinar port and more than 2,700 petrol pumps. A power plant serving the refinery as well as company's coal-bed methane (CBM) blocks are not included in the deal.
As part of the deal, Rosneft-Trafigura will also take over the debt of Essar Oil and the port and terminal company.
Last year, US Treasury's Office of Foreign Assets Control (OFAC) had issued a Crimea Sanctions Advisory, adding Rosneft and its subsidiaries to its Sectoral Sanctions Identifications List in retaliation for the Russian's invasion of eastern Ukraine.
Entities on this list are subject to economic and trade sanctions on grounds that they pose a risk to US national security and are in violation of US foreign policy objectives.
Rosneft had in July last year signed a non-binding agreement to buy a 49 per cent stake in Essar Oil. This was followed by December 2015 deal wherein Rosneft was to supply Vadinar refinery with 200,000 barrels of crude per day (10 million tons a year) for 10 years.
Sources said Trafigura may at a later stage transfer its stake to Rosneft.
Trafigura handles most of the crude exported by Rosneft.
This has propelled Trafigura to being the world's second-biggest independent oil trader, handling more than 4 million barrels a day.
Russia is seeking to expand its energy ties in Asia amid tensions with the West sparked by Moscow's annexation of Crimea in 2014.
Rosneft, the world's largest listed oil producer by output, is looking at south Asia for downstream investments as it sees the region as becoming a fast-growing market for its oil.
India -- which depends on imports for about 80 per cent of its needs -- is set to taking over from China as the main driver of global oil demand growth this year. India is the world's third-largest oil consumer, behind China and the US.
Rosneft is reportedly discussing investing USD 13 billion in a new refinery project in Indonesia with Pertamina, the country's state-controlled oil and gas company.
Russian oil producers have been relatively sheltered from the collapse in crude prices by the decline of the rouble, which has helped them to reduce costs. A progressive taxation system under which the Russian government has absorbed most of the decline in oil prices has also boosted the producers.
Russia has signed huge deals to deliver oil and gas to China and allowed Chinese companies to buy stakes in large energy projects.
Indian companies have also snapped up stakes in production assets in Siberian fields. ONGC, Oil India and Indian Oil are investing USD 5.5 billion to buy stakes in Rosneft's Vankor and Taas-Yuryakh fields.
Chinese and Indian state firms have expressed an interest in taking a stake in Rosneft, as the Russian state plans to sell 19.5 per cent of the company this year. The state would retain control of the company, in which BP of UK already has a near 20 per cent stake.
Russia ranked 20th among countries with a total investment of just about USD 1.2 billion in India in the last 16 years. Mauritius gave nearly USD 96 billion, while Singapore and the UK have invested USD 46 billion and USD 23 billion each in India.
Oil sector attracted about USD 6.68 billion in foreign investment.
Russia plans $1 bn India joint fund, to pump $500 mn in NIIF
-
In a first, Moscow has agreed to pump in USD 500 million into the Indian infrastructure space, along with an equal investment by the newly formed National Infrastructure Investment Fund (NIIF), to form a USD 1 billion 'Russian Indian Investment Fund'.
The Russian Direct Investment Fund (RDIF) will invest USD 500 million into the joint fund, which will support "attractive investment opportunities and growth of Russian business activity in India," RDIF chief executive Kirill Dmitriev said.
"The money will be invested in infrastructure projects with Russian component. We will look at energy, petrochemicals, transport infrastructure and different projects where our companies can also have a foot in India," he told PTI over phone.
An agreement to start the fund, the first of its kind partnership for the newly-formed NIIF, will be signed before Prime Minister Narendra Modi and President Vladimir Putin on the sidelines of the eighth two-day BRICS Summit beginning here today, he said.
Dmitriev said the actual money flow from the arrangement will be much higher as Russian businesses tend to invest a lot more when the RDIF signs agreements like these with any other country or institution.
"There would be more money from Russian banks, Russian companies and other partners of the RDIF," he explained and pegged the actual investment from Russia, including those by companies, can go up to USD 8 billion through an arrangement like this.
Interestingly, at a time when India is actively considering to start projects connecting Iran with Central Asia, Dmitriev said the RDIF is also open to investing in other countries beyond India.
"Though most of the investments will be in India, some can also be outside of India. It can be in other countries as well," Dmitriev said.
The RDIF was started in 2011 to make equity co-investments alongside reputable international financial and strategic investors, while the NIIF was floated by the government last year keeping in mind the needs to put up infrastructure.
Having a corpus of Rs 40,000 crore, the NIIF is a vehicle to attract equity investments from domestic and international sources, and the government plans to contribute 49 per cent to the corpus.
It will invest into the infrastructure sector in commercially viable projects, both greenfield and brownfield, including stalled projects
In a first, Moscow has agreed to pump in USD 500 million into the Indian infrastructure space, along with an equal investment by the newly formed National Infrastructure Investment Fund (NIIF), to form a USD 1 billion 'Russian Indian Investment Fund'.
The Russian Direct Investment Fund (RDIF) will invest USD 500 million into the joint fund, which will support "attractive investment opportunities and growth of Russian business activity in India," RDIF chief executive Kirill Dmitriev said.
"The money will be invested in infrastructure projects with Russian component. We will look at energy, petrochemicals, transport infrastructure and different projects where our companies can also have a foot in India," he told PTI over phone.
An agreement to start the fund, the first of its kind partnership for the newly-formed NIIF, will be signed before Prime Minister Narendra Modi and President Vladimir Putin on the sidelines of the eighth two-day BRICS Summit beginning here today, he said.
Dmitriev said the actual money flow from the arrangement will be much higher as Russian businesses tend to invest a lot more when the RDIF signs agreements like these with any other country or institution.
"There would be more money from Russian banks, Russian companies and other partners of the RDIF," he explained and pegged the actual investment from Russia, including those by companies, can go up to USD 8 billion through an arrangement like this.
Interestingly, at a time when India is actively considering to start projects connecting Iran with Central Asia, Dmitriev said the RDIF is also open to investing in other countries beyond India.
"Though most of the investments will be in India, some can also be outside of India. It can be in other countries as well," Dmitriev said.
The RDIF was started in 2011 to make equity co-investments alongside reputable international financial and strategic investors, while the NIIF was floated by the government last year keeping in mind the needs to put up infrastructure.
Having a corpus of Rs 40,000 crore, the NIIF is a vehicle to attract equity investments from domestic and international sources, and the government plans to contribute 49 per cent to the corpus.
It will invest into the infrastructure sector in commercially viable projects, both greenfield and brownfield, including stalled projects
NPAs pose challenge to Indian economy's strong growth: IMF chief economist
-
Describing India as a "bright spot" in the complex set of economic forces, IMF Chief Economist Maurice Obstfeld said on Friday rising NPAs in Indian public sector banks remain a challenge despite progress.
"The complex set of economic forces continues to shape a subdued global growth outlook... Not only India, but China is maintaining its growth. India is a bright spot, inflation in India... CAD... fiscal deficit are coming down," Obstfeld said at an event organised by Brookings India in New Delhi.
"But there are still structural challenges. Rising NPAs in public sector banks remain a challenge despite lots of progress."
Earlier this month, the International Monetary Fund had projected a robust 7.6 per cent growth rate for India in 2016 and 2017, but had asked the government to continue reforming its taxation system and eliminate subsidies to provide more resources for investments in infrastructure, education and healthcare.
Gross non-performing assets (NPAs) of public sector banks surged to 9.32 per cent (Rs 4.76 lakh crore) of advances in 2015-16, from 5.43 per cent (Rs 2.67 lakh crore) in 2014-15.
Many lenders, including Bank of India, Dena Bank and Central Bank of India, have reported losses for the quarter ended June due to a sharp jump in provisions on account of an asset quality review mandated by RBI in December.
In a bid to shore up cash-strapped public sector banks, the government in August had announced capital infusion of Rs 22,915 crore for 13 lenders, including SBI, to revive loan growth that has hit a two-decade low.
This is the first tranche for the current fiscal and more funds will be provided, depending on performance of PSBs. The newly-appointed IMF chief economist said India has been beneficial of a fall in commodity prices and emerging economies as a whole have a favourable view of trade.
"In US, the perception is trade is job killer. World has imposed greater trade barriers on Asia than Asia has imposed on the rest of the world," Obstfeld said.
According to the noted economist, growth of advanced economies was a disappointment in 2016, but emerging ones performed well in 2016. "Advanced economies' weight of GDP in global growth has come down that partly explains some disenchantment of globalisation in these countries," Obstfeld observed.
Noting that overall world inequality has fallen, he said the fall is driven by rise in per capita of India and China.
Describing India as a "bright spot" in the complex set of economic forces, IMF Chief Economist Maurice Obstfeld said on Friday rising NPAs in Indian public sector banks remain a challenge despite progress.
"The complex set of economic forces continues to shape a subdued global growth outlook... Not only India, but China is maintaining its growth. India is a bright spot, inflation in India... CAD... fiscal deficit are coming down," Obstfeld said at an event organised by Brookings India in New Delhi.
"But there are still structural challenges. Rising NPAs in public sector banks remain a challenge despite lots of progress."
Earlier this month, the International Monetary Fund had projected a robust 7.6 per cent growth rate for India in 2016 and 2017, but had asked the government to continue reforming its taxation system and eliminate subsidies to provide more resources for investments in infrastructure, education and healthcare.
Gross non-performing assets (NPAs) of public sector banks surged to 9.32 per cent (Rs 4.76 lakh crore) of advances in 2015-16, from 5.43 per cent (Rs 2.67 lakh crore) in 2014-15.
Many lenders, including Bank of India, Dena Bank and Central Bank of India, have reported losses for the quarter ended June due to a sharp jump in provisions on account of an asset quality review mandated by RBI in December.
In a bid to shore up cash-strapped public sector banks, the government in August had announced capital infusion of Rs 22,915 crore for 13 lenders, including SBI, to revive loan growth that has hit a two-decade low.
This is the first tranche for the current fiscal and more funds will be provided, depending on performance of PSBs. The newly-appointed IMF chief economist said India has been beneficial of a fall in commodity prices and emerging economies as a whole have a favourable view of trade.
"In US, the perception is trade is job killer. World has imposed greater trade barriers on Asia than Asia has imposed on the rest of the world," Obstfeld said.
According to the noted economist, growth of advanced economies was a disappointment in 2016, but emerging ones performed well in 2016. "Advanced economies' weight of GDP in global growth has come down that partly explains some disenchantment of globalisation in these countries," Obstfeld observed.
Noting that overall world inequality has fallen, he said the fall is driven by rise in per capita of India and China.
Asia accounts for 50 per cent of total internet users in the world
-
Internet users and services continue to grow. The increase in smartphone usage and the lower access costs as well as the growing population are the reasons of increase in number of internet users all over the world.
Data released by Internet World Stats shows that internet penetration in the world has almost touched the 50 per cent mark. Asia has highest number of internet users and accounts for half of total internet users in the world. Total internet users in the world have increased from 3.61 billion in June 2016 to 3.63 billion in October 2016.
India stood at 18th place with 36.5 per cent internet penetration as on June 30, 2016. However, the penetration remains much lower than the world average.
Internet users and services continue to grow. The increase in smartphone usage and the lower access costs as well as the growing population are the reasons of increase in number of internet users all over the world.
Data released by Internet World Stats shows that internet penetration in the world has almost touched the 50 per cent mark. Asia has highest number of internet users and accounts for half of total internet users in the world. Total internet users in the world have increased from 3.61 billion in June 2016 to 3.63 billion in October 2016.
India stood at 18th place with 36.5 per cent internet penetration as on June 30, 2016. However, the penetration remains much lower than the world average.
General Awareness
“Global Tuberculosis Report 2016” – By WHO
-
The new Global Tuberculosis Report 2016 released by the World Health Organisation. New data published by WHO in its2016 “Global Tuberculosis Report” show that countries need to move much faster to prevent, detect, and treat the disease if they are to meet global targets.
About TB :
Tuberculosis(TB) is an infectious disease caused by the bacterium Mycobacterium tuberculosis (MTB). Tuberculosis generally affects the lungs, but can also affect other parts of the body.
- Most infections do not have symptoms, known as latent tuberculosis. About 10% of latent infections progress to active disease which, if left untreated, kills about half of those infected.
- The classic symptoms of active TB are a chroniccough with blood-containing sputum, fever, night sweats, and weight loss. The historical term “consumption” came about due to the weight loss. Infection of other organs can cause a wide range of symptoms.
- Tuberculosis is spread through the air when people who have active TB in their lungs cough, spit, speak, or sneeze. People with latent TB do not spread the disease. Active infection occurs more often in people with HIV/AIDS and in those whos moke.
- Diagnosis of active TB is based on chest X-rays, as well as microscopic examination and culture of body fluids. Diagnosis of latent TB relies on the tuberculin skin test (TST) or blood tests.
- Prevention of TB involves screening those at high risk, early detection and treatment of cases, and vaccination with the bacillus Calmette-Guérin
- Those at high risk include household, workplace, and social contacts of people with active TB.Treatment requires the use of multiple antibiotics over a long period of time. Antibiotic resistance is a growing problem with increasing rates of multiple drug-resistant tuberculosis (MDR-TB).
- One-third of the world’s population is thought to be infected with TB.New infections occur in about 1% of the population each year. In 2014, there were 9.6 million cases of active TB which resulted in 1.5 million deaths.
- More than 95% of deaths occurred in developing countries. The number of new cases each year has decreased since 2000.
- About 80% of people in many Asian and African countries test positive while 5–10% of people in the United States population tests positive by the tuberculin test.Tuberculosis has been present in humans since ancient times.
About the Report,
It is noted that India has been underreporting its tuberculosis burden by almost half, it appears. World Health Organisation updated the estimate of incidence – that is, the number of new tuberculosis cases in a year – from 1.7 million cases to 2.8 million in 2015.
- The report used estimates from a prevalence study done in Gujarat in 2011, the results of which were never made public till the WHO decided to use it in its global report.
- The WHO 2016″Global Tuberculosis Report” highlights the considerable inequalities among countries in enabling people with TB to access existing cost-effective diagnosis and treatment interventions that can accelerate the rate of decline in TB worldwide. The report also signals the need for bold political commitment and increased funding.
- An estimated 1.8 million people died from TB in 2015, of whom 0.4 million were co-infected with HIV. Although global TB deaths fell by 22% between 2000 and 2015, the disease was one of the top 10 causes of death worldwide in 2015, responsible for more deaths than HIV and malaria.
- Gaps in testing for TB and reporting new cases remain major challenges. Of the estimated 10.4 million new cases, only 6.1 million were detected and officially notified in 2015, leaving a gap of 4.3 million. This gap is due to underreporting of TB cases especially in countries with large unregulated private sectors, and under-diagnosis in countries with major barriers to accessing care.
- In addition, the rate of reduction in TB cases remained static at 1.5% from 2014 to 2015. This needs to accelerate to 4–5% by 2020 to reach the first milestones of the World Health Assembly-approved”End TB Strategy”.
- Multi drug-resistant TB (MDR-TB) remains a public health crisis. WHO estimates that 480 000 people fell ill with MDR-TB in 2015. Three countries carry the major burden of MDR-TB – India, China, and the Russian Federation – which together account for nearly half of all cases globally.
- Detection and treatment gaps continue to plague the MDR-TB response. In 2015, only 1 in 5 of the people newly eligible for second-line treatment were able to access it. Cure rates continue to remain low globally at 52%.
- Overall, around 84% of the financing available in low- and middle-income countries in 2016 was from domestic sources, but this was mostly accounted for by theBRICS (Brazil, the Russian Federation, India, China and South Africa) group of countries. Other low- and middle- income countries continue to rely heavily on international donor financing, with more than 75% coming from The Global Fund to Fight AIDS, TB and Malaria.
The new Global Tuberculosis Report 2016 released by the World Health Organisation. New data published by WHO in its2016 “Global Tuberculosis Report” show that countries need to move much faster to prevent, detect, and treat the disease if they are to meet global targets.
About TB :
Tuberculosis(TB) is an infectious disease caused by the bacterium Mycobacterium tuberculosis (MTB). Tuberculosis generally affects the lungs, but can also affect other parts of the body.
- Most infections do not have symptoms, known as latent tuberculosis. About 10% of latent infections progress to active disease which, if left untreated, kills about half of those infected.
- The classic symptoms of active TB are a chroniccough with blood-containing sputum, fever, night sweats, and weight loss. The historical term “consumption” came about due to the weight loss. Infection of other organs can cause a wide range of symptoms.
- Tuberculosis is spread through the air when people who have active TB in their lungs cough, spit, speak, or sneeze. People with latent TB do not spread the disease. Active infection occurs more often in people with HIV/AIDS and in those whos moke.
- Diagnosis of active TB is based on chest X-rays, as well as microscopic examination and culture of body fluids. Diagnosis of latent TB relies on the tuberculin skin test (TST) or blood tests.
- Prevention of TB involves screening those at high risk, early detection and treatment of cases, and vaccination with the bacillus Calmette-Guérin
- Those at high risk include household, workplace, and social contacts of people with active TB.Treatment requires the use of multiple antibiotics over a long period of time. Antibiotic resistance is a growing problem with increasing rates of multiple drug-resistant tuberculosis (MDR-TB).
- One-third of the world’s population is thought to be infected with TB.New infections occur in about 1% of the population each year. In 2014, there were 9.6 million cases of active TB which resulted in 1.5 million deaths.
- More than 95% of deaths occurred in developing countries. The number of new cases each year has decreased since 2000.
- About 80% of people in many Asian and African countries test positive while 5–10% of people in the United States population tests positive by the tuberculin test.Tuberculosis has been present in humans since ancient times.
About the Report,
It is noted that India has been underreporting its tuberculosis burden by almost half, it appears. World Health Organisation updated the estimate of incidence – that is, the number of new tuberculosis cases in a year – from 1.7 million cases to 2.8 million in 2015.
- The report used estimates from a prevalence study done in Gujarat in 2011, the results of which were never made public till the WHO decided to use it in its global report.
- The WHO 2016″Global Tuberculosis Report” highlights the considerable inequalities among countries in enabling people with TB to access existing cost-effective diagnosis and treatment interventions that can accelerate the rate of decline in TB worldwide. The report also signals the need for bold political commitment and increased funding.
- An estimated 1.8 million people died from TB in 2015, of whom 0.4 million were co-infected with HIV. Although global TB deaths fell by 22% between 2000 and 2015, the disease was one of the top 10 causes of death worldwide in 2015, responsible for more deaths than HIV and malaria.
- Gaps in testing for TB and reporting new cases remain major challenges. Of the estimated 10.4 million new cases, only 6.1 million were detected and officially notified in 2015, leaving a gap of 4.3 million. This gap is due to underreporting of TB cases especially in countries with large unregulated private sectors, and under-diagnosis in countries with major barriers to accessing care.
- In addition, the rate of reduction in TB cases remained static at 1.5% from 2014 to 2015. This needs to accelerate to 4–5% by 2020 to reach the first milestones of the World Health Assembly-approved”End TB Strategy”.
- Multi drug-resistant TB (MDR-TB) remains a public health crisis. WHO estimates that 480 000 people fell ill with MDR-TB in 2015. Three countries carry the major burden of MDR-TB – India, China, and the Russian Federation – which together account for nearly half of all cases globally.
- Detection and treatment gaps continue to plague the MDR-TB response. In 2015, only 1 in 5 of the people newly eligible for second-line treatment were able to access it. Cure rates continue to remain low globally at 52%.
- Overall, around 84% of the financing available in low- and middle-income countries in 2016 was from domestic sources, but this was mostly accounted for by theBRICS (Brazil, the Russian Federation, India, China and South Africa) group of countries. Other low- and middle- income countries continue to rely heavily on international donor financing, with more than 75% coming from The Global Fund to Fight AIDS, TB and Malaria.
No comments:
Post a Comment