India and United States Partner on Cancer and Traditional Medicine Research Efforts

Collaborative research on cancer and traditional medicine may pave the way for potential breakthroughs

The first U.S.-India Workshop on Traditional Medicine (March 3-4, 2016) began in New Delhi today. The Workshop was jointly inaugurated by the Minister of State for AYUSH (Independent Charge) and Health & Family Welfare, Shri Shripad Yesso Naik and U.S. Ambassador to India, Mr. Richard Verma and Assistant Secretary of Global Affairs at HHS, Ambassador Jimmy Kolker.

Representatives from the U.S. Department of Health and Human Services (HHS) Office of Global Affairs (OGA), the National Institutes of Health (NIH) National Cancer Institute (NCI), and U.S. academic institutions will interact with their counterparts from the Ministry of Ayurveda, Yoga and Naturopathy, Unani, Siddha and Homoeopathy (AYUSH), and Indian research institutes and universities, in New Delhi during the workshop.

The Workshop is being organized under the auspices of the first U.S.-India Health Dialogue held in September, 2015 in Washington, D.C. This effort underscores the discussions between the U.S. President and the Indian Prime Minister to encourage bilateral dialogue on traditional medicine.

Over the course of the two-day workshop, participants will share current traditional medicine therapies and practices for cancer in U.S. and India. They will review available evidence for AYUSH products and interventions, which could reduce pain/morbidity from cancer treatments and improve the quality of life. Scientists will explore opportunities to collaborate on mutually-identified research in the areas of natural products, palliative care and other support studies. Professional training and scientific exchanges will be an important aspect of this cooperation.

Addressing the participants, the AYUSH Minister, Shri Shripad Naik said that globalization of AYUSH is one of the major policy thrusts of our Government. The constructive collaboration between India and U.S. in this field is important for incorporating more scientific inputs from both sides in Traditional Medicines which can help mainstreaming AYUSH systems in patient health care across the globe. India is also collaborating with World Health Organization (WHO) in the area of Traditional Medicine which will help in achieving international acceptability and positioning of AYUSH systems, the Minister explained.

“Today’s workshop supports the important deliverable from the President Obama-Prime Minister Modi Joint Statement and U.S.-India Health Dialogue, where both India and the U.S. agreed to explore further potential areas of mutual collaboration on Indian Traditional Medicine,” said Mr. Richard Verma, U.S. Ambassador to India.

“This meeting demonstrates the commitment of HHS to support bilateral cooperation on cancer and traditional medicine research, with science at the cornerstone,” said Ambassador Jimmy Kolker, Assistant Secretary of Global Affairs at HHS.

“This is a great opportunity to bring to the table from the US side NCI and NIH expertise in laboratory and clinical evaluation of traditional medicine and from the Indian side an impressive commitment to building the evidence base for traditional Indian medicine,” said Dr.Edward Trimble, Director of the U.S. NCI’s Center for Global Health.

Secretary AYUSH, Shri Ajit Mohan Sharan informed that the International Cooperation Division in the Ministry has been asked to work proactively to forge such collaborations so that large sections of people can benefit from AYUSH systems.

The U.S. delegation also visited several Indian institutes – Benares Hindu University, Jamia Hamdard University, All India Institute of Ayurveda and Medanta – The Medicity, to learn first-hand how Traditional and Modern Medicine co-exist for patient-care.

Nearly 175 participants including experts related to both traditional systems and modern medicine, biologists, and researchers from India and the U.S. will take part in the two day Workshop.

These discussions will be strengthened at the next U.S.-India Health Dialogue this year in India. 

U.S. plans naval exercises with India and Japan in Philippine Sea

NEW DELHI | By Sanjeev Miglani : India, the United States and Japan will hold naval exercises in waters off the northern Philippines near the South China Sea this year, the U.S. military said on Wednesday, a move likely to further raise tensions with China.
The announcement comes a day after the United States warned China against militarisation of the South China Sea, where Beijing is locked in a territorial dispute with several countries, saying there would be consequences.
Last year, India and the United States expanded their annual naval drills in the Bay of Bengal to include Japan after a gap of eight years, in a move seen as a response to China's growing assertiveness in the region.
Admiral Harry B. Harris, head of the U.S. Pacific Command, said the naval exercise will be held in the northern Philippine Sea and that Japan will take part.
Freedom of the seas was a fundamental right of all nations, he told a security conference in New Delhi, adding some thinly veiled criticism of Beijing.

"While some countries seek to bully smaller nations through intimidation and coercion, I note with admiration India's example of peaceful resolution of disputes with your neighbours in the waters of the Indian Ocean, " he said.
Asked about the drills, Chinese Foreign Ministry spokesman Hong Lei said: "We hope the cooperation of relevant countries will benefit regional peace and security, and not harm the interests of third parties".
Tensions in the South China Sea have risen recently, with the United States and others protesting against Beijing's land reclamations in the Spratly islands, along with the recent deployment of surface-to-air missiles and fighter jets in the Paracel Islands.

Along with China and the Philippines, Brunei, Malaysia, the Philippines, Taiwan and Vietnam also have claims on the waters, through which about $5 trillion in trade is shipped every year.
Harris said the United States wished to expand the naval exercises it held with India each year into joint operations across the Asia-Pacific, which could draw India into the row in the South China Sea.

The two countries have held talks on joint naval patrols and last month a U.S. defence official told Reuters that these could include the South China Sea.
Both India and the United States later said these patrols were not imminent after Beijing warned that interference from countries outside the region threatens peace and stability.
Harris said it was up to the leaders of India and the United States to decide where to hold the joint operations.

Setting up of a Society, "36thInternational Geological Congress", for organizing 36th International Geological Congress in the year 2020 and promoting geoscience in Indian subcontinent

The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has given its approval to set up of a Society, "36th International Geological Congress", under the Indian Society Registration Act, 1860 for organizing 36th International Geological Congress (IGC) in year 2020 and promoting geoscience in Indian subcontinent. The event will be held in NCR, Delhi during March 2-6, 2020. A budgetary outlay worth Rs. 52 crore has been already approved by Cabinet to carry out preparatory activities upto 2018-19 and additional funds will be sought on revising the estimate a year before the main event.

The 36th IGC will be hosted jointly by the Ministry of Mines (MoM) and Ministry of Earth Sciences (MoES) with active support from the science academies of India and co-host neighboring countries. It is expected to attract 7000+ geoscientists from all over the world. The event is to be organized under the aegis of International Union of Geological Sciences (IUGS) and as per the statutes of IUGS-IGC Council. On being registered, the Society, 36IGC will start preparing for the event by taking up activities including constitution of a Local Organizing Committee (LOC) and participation in the 35th IGC which is scheduled to be held during 27 August-4 September, 2016 at Cape Town, South Africa.The Society will be wound-up after the completion of the event.

The event will benefit the entire geoscientific community and all geoscience-related domains including mineral exploration, mining, environmental management, climate change studies, management of natural hazards, etc. It is also expected to give a boost to geo-tourism in the country.An exhibition 'GEOEXPO-2020", scheduled to be held alongside the conference, is expected to attract major mining and mineral exploration companies.The GEOEXPO exhibition will attract global companies involved in mining, mineral exploration and infrastructure development. Showcasing of India's mineral potential can create an opportunity for foreign investment in India in these areas.

The 36th IGC has the theme “Geoscience-the Basic Science for Sustainable Future”. Hosting the event in India will provide an opportunity to upgrade geosciences and geoscientific research in the country to meet the challenges of global changes and ever increasing quest for natural resources. The Indian subcontinent has more than 10000 geoscientists engaged in mineral exploration, geotechnical investigations, geoscientific mapping, and research and development in fundamental geoscientific activities in various national organizations and institutions/ universities, industry and private sector enterprises. The applied fields are diverse ranging from oil and gas to groundwater, mining to environment, climate changes to natural hazards etc. The Indian Geoscientists will get a big opportunity to interact with the best of subject experts from world over to further improve their knowledge and skills to meet the emerging challenges.

Background:

India made a bid to host the 36th IGC in India along with its co-host neighboring countries, namely, Bangladesh, Nepal, Pakistan and Sri Lanka during the 34th international Geological Congress held at Brisbane, Australia in August 2012, and won it with an overwhelming support of global geoscientific community.

The IGC is a prestigious geoscience conference organized at an interval of 4 years under the aegis of International Union of Geological Sciences (IUGS) an affiliate of International Council of Science (ICSU). The IGC, since its inception in 1878, has attracted 6000 + delegates to each of its last five sessions held in different parts of the world. India had earlier hosted the 22nd session of IGC, which was the first IGC in Asia, in year1964 in Delhi.

The event will showcase India as a scientific destination for human resource development and training, and this will help improve Indian position in the South Asian and African regions on a long term basis. It will also contribute towards increasing tourism revenue by opening new avenues for geo-tourism.

IMF sees India growth picking up, inflation behaving

India's economic growth rate should pick up to 7.5 percent in the 2016/17 fiscal year, the International Monetary Fund said on Wednesday, aided by a collapse in oil prices and relatively low exposure to current global financial turbulence.
Summing up its latest review of Asia's third-largest economy, the Fund forecasts that economic growth would pick up from 7.3 percent in the 2015/16 fiscal year that ends on March 31.
"The broad message is that India's growth trajectory is pretty strong by international standards - not to mention the advanced economies," IMF Resident Representative Thomas Richardson told Reuters.
Inflation was behaving and was on track, the Fund said in a statement, with monetary conditions consistent with hitting the Reserve Bank of India's target for consumer price inflation of 5 percent by March 2017.

And, while the balance of economic risks has improved, they remain tilted to the downside. These included the impact of intensified volatility on global financial markets, including from surprise unexpected U.S. monetary policy moves or China's economic slowdown.
"The authorities have done a pretty good job of bringing inflation down and reducing external vulnerability, positioning India well to handle another round of external volatility," Richardson said in a telephone interview.

In comments published after Finance Minister Arun Jaitley unveiled an annual budget that stuck to deficit targets, the IMF called for more "growth friendly" fiscal consolidation.

It also highlighted potential risks from weak corporate and bank balance sheets. Jaitley's budget on Monday committed $3.7 billion to recapitalize state banks. Bankers estimate that their recapitalization needs are nearly 10 times as much.

India's 2016/17 federal budget 'balanced', 'pragmatic': RBI deputy

India's 2016/17 budget unveiled by Finance Minister Arun Jaitley on Monday is "pragmatic" and "balanced," and its focus on the rural economy and job creation will bring long-term benefits, Reserve Bank of India Deputy Governor S.S. Mundra said.
Mundra's reaction, during an interaction with reporters on Tuesday, marks the first public comment from a senior RBI official on the budget.
"It is a pragmatic budget, particularly if you look at the fiscal consolidation road map," Mundra told reporters on the sidelines of a conference.
"The thrust on rural economy and job creation is very positive for the long term benefit. The social and public investment thrust should also be very important. Overall it's a balanced budget and (with) a very long term impact."

Mundra said the government's plan to inject 250 billion rupees ($3.67 billion) into state-owned lenders in the year starting in April "would work for the time being", but added it should be open to making more such injections.

"If the need arises, government will find a way," he said.
($1 = 68.0350 Indian rupees)

Initiatives to contain outbreak of Zika Virus

Technical guidelines and travel advisory were issued and disseminated and also made available on the website of the Ministry. States where Dengue transmission is prevalent, namely Maharashtra, Kerala, Tamil Nadu, and UT of Puducherry have been alerted. National Centre for Disease Control (NCDC), Delhi has been identified as the nodal agency for investigation of outbreak in any part of the country. Fifteen International Airports and nine major ports have displayed signages providing information for travelers on Zika virus disease and advising the travellers to report if they are returning from any of the affected countries and suffering from febrile illness. Immigration authorities at these Airports have been sensitized. Directorate General of Civil Aviation, Ministry of Civil Aviation has issued instruction to all international airlines to follow the recommended aircraft disinsection guidelines. Vector control measures have been implemented at International Airports and Ports. National Centre for Disease Control, Delhi and National Institute of Virology (NIV), Pune, have established the capacity to provide laboratory diagnosis of Zika virus disease in acute febrile stage. National Vector Borne Disease Control Programme has alerted all its field units for enhanced vector ( Aedes mosquitoes) control. National AIDS Control Organization has issued advisory for blood banks and potential blood donors to prevent transmission of Zika virus infection by blood transfusion. A 24x7 control room cum Help Line has started functioning from Dte GHS. Public has been made aware about Zika virus disease through press releases issued by Ministry of Health and Family Welfare. The situation is being monitored regularly.

There is no specific treatment for Zika virus Disease. People sick with Zika virus are advised to take plenty of rest, drink enough fluids, and treat pain and fever with paracetamol. They are also advised to take personal protective measures against mosquito bite.

National Centre for Disease Control, Delhi and National Institute of Virology (NIV), Pune, are the identified laboratories to test clinical samples and to support the outbreak investigation. No special provision is required to admit and treat a Zika virus disease patient except for provision of mosquito net. However, severe forms of disease requiring hospitalization is uncommon and fatalities are rare.

The Health Minister, Shri J P Nadda stated this in a written reply in the Rajya Sabha here today.

Travel Advisory by Ima Regarding Zika Virus

Ministry of Health & Family Welfare, Government of India has issued travel advisory that pregnant women or women who are trying to become pregnant should defer/ cancel their travel to the affected areas.

All pregnant women travelling to the affected countries/ areas have been advised to strictly follow personal protective measures, especially during day time, to prevent mosquito bites and if they fall sick within two weeks of return from an affected country, they should report to the nearest health facility.

Advisory has also been issued that pregnant women who have travelled to areas with Zika virus transmission should mention about their travel during pregnancy check-up visits in order to be assessed and monitored appropriately at the health facility.

Guidelines for integrated vector management to prevent transmission by Aedes mosquito have been issued to all the States. These guidelines include vector surveillance, both for larva and adults; effective vector control through environmental management methods, personnel protection, biological control such as using larvivorous fish and using chemicals that kill adult and larval form of this mosquito. Vector surveillance and capacity building have also been done at International Airports and ports.

The Health Minister, Shri J P Nadda stated this in a written reply in the Rajya Sabha here today.

India's budget : Winners and Losers

India unveiled a fire-fighting budget on Monday that seeks to win back support among rural voters for Prime Minister Narendra Modi's government and sustain growth against a grim global backdrop - all without borrowing more.
The following sectors/companies will benefit or be hurt by the budget proposals:

WINNERS:

* AGRICULTURE
Jaitley said 359.84 billion rupees ($5.3 billion) would be set aside for farmers' welfare for the year starting April 2016. The government will also launch aid schemes intended to help double farmers' incomes by 2022.
Jaitley also raised the agricultural credit target for 2016/17 to a record 9 trillion rupees, amid rising rural distress after a series of droughts in the country.
Companies such as Jain Irrigation (JAIR.NS), Mahindra and Mahindra (MAHM.NS), Monstanto India (MNSN.NS) that supply agricultural equipment and seeds are likely to benefit.
   
* ROADS AND INFRASTRUCTURE
Jaitley plans to allocate 550 billion rupees for developing roads and highways. Capital expenditure on development of roads, highways and railways has been set at 2.18 trillion rupees for the year.
The higher infrastructure spending bodes well for companies such as IRB Infrastructure Developers (IRBI.NS), Larsen and Toubro Ltd (LART.NS) and Gammon Infrastructure Projects Ltd (GAIN.NS).

* NEW MANUFACTURING COS
New manufacturing companies incorporated on or after March 1, 2016 will be given an option to be taxed at a reduced rate of 25 percent plus surcharge and cess, provided they do not claim profit-linked or investment-linked deductions and do not use the investment allowance and accelerated depreciation.


* REAL ESTATE
Dividends from a special purpose vehicle to a Real Estate Investment Trust (REIT) and an Infrastructure Investment Trust (InvIT) will not be subjected to the Dividend Distribution Tax, the budget said, resolving a major hurdle for listing of REITs.
That would help companies, including DLF Ltd (DLF.NS), Prestige Estates Projects Ltd (PREG.NS), and Sobha Ltd (SOBH.NS), which have been waiting to list REITs.
Jaitley's plans to provide tax incentives for affordable housing are likely to benefit builders of low-cost homes, including Mahindra Lifespace Developers (MALD.NS) and Housing Development and Infrastructure Ltd (HDIL.NS).

* ASSET RECONSTRUCTION COMPANIES

The government said it would allow so-called sponsors of asset reconstruction companies (ARCs), which buy bad loans from banks, to own 100 percent of the company. Foreign investors can fully own Indian ARCs without having to seek prior approval from the government.
The moves will help ARCs including Edelweiss ARC, JM Financial ARC and ARCIL raise more capital.

LOSERS:

* CARS
The budget proposed an infrastructure cess of 1 pct on small petrol, LPG, CNG cars, of 2.5 pct on diesel cars of certain capacity, and of 4 pct on other higher engine capacity vehicles and SUVs.
The budget also called for tax to be deducted at source at the rate of 1 percent for purchases of luxury cars exceeding a price of 1 million rupees.

India's largest automobile maker Maruti Suzuki Ltd (MRTI.NS) and SUV-makers Mahindra and Mahindra Ltd (MAHM.NS) and Tata Motors (TAMO.NS) are likely to be hurt.

* RETAIL and TEXTILE
Factory gate duty on readymade garments with a retail price of 1,000 rupees or more has been raised to 2 percent without input tax credit, or 12.5 percent with input tax credit.
Apparel retailers such as Aditya Birla Nuvo (ABRL.NS), Future Retail (FURE.NS), and Shopper's Stop (SHOP.NS) along with textile manufacturers such as Arvind Ltd (ARVN.NS) are likely to be hurt.

* TOBACCO
Excise duties on various tobacco products have been raised by about 10 percent to 15 percent. Cigarettte makers such as ITC Ltd (ITC.NS) and VST Industries (VSTI.NS) are likely to be affected.

* OIL EXPLORERS
Finance Minister Arun Jaitley in his budget changed the so-called Oil Industries Development Cess on locally produced crude oil from 4,500 rupees per tonne to 20 pct of the value of the commodity. Industry had however expected a much lower tax rate, traders said. This affects companies such as Oil and Natural Gas Corp (ONGC.NS), Cairn India (CAIL.NS) and Oil India Ltd (OILI.NS).
($1 = 68.4250 Indian rupees)

 

India’s representative Shri Dinesh Sharma, Additional Secretary, Department of Economic Affairs elected as the Chairperson of the Governing Council of International Fund for Agriculture Development (IFAD), Rome

Shri Dinesh Sharma, Additional Secretary, Department of Economic Affairs, Ministry of Finance and India’s Governor to the International Fund for Agriculture Development (IFAD), Rome was unanimously elected as the Chairperson of the Governing Council of IFAD for a period of two years in its 39th Session held in Rome,Italy on 17th and 18th February, 2016. Speaking on the occasion, the Italian President Mr Sergio Mattarella said that hunger and poverty are insidious, and are at the root of conflict and instability and are the link in chain that we need to break first to deal with emergencies and humanitarian disasters.

IFAD was set-up in 1977 as the 13th Specialised Agency of the United Nations and works towards removing poverty and hunger in rural areas all over the world. India is a founder member of IFAD and a key contributor among the member countries.

IFAD is managed by the two main governing bodies i.e. the Governing Council and the Executive Board. The Governing Council is the highest decision making body and consists of 176 member countries.

The aforesaid Governing Council Session was marked by special focus on inclusive growth and on the investments required to meet the Sustainable Development Goals in the realm of eradicating poverty and hunger. India emphasised that economic growth must be inclusive and participatory; and should result in an enhanced access to opportunities to all. India further added that access to formal finance at an affordable cost and in a transparent manner, would be crucial for a meaningful financial inclusion. The Indian Delegation also apprised the gathering about the steps taken by the Government of India to promote financial Inclusion through the ‘Pradhan Mantri Jan Dhan Yojana (PMJDY)’ and ‘Direct Benefit Transfer (DBT)’.

UK, EU leaders set to clash over financial regulation

BRUSSELS : The extent to which British regulators can write their own banking rules remains a stumbling block ahead of a summit of European Union leaders on Thursday that will try to thrash out a deal to keep Britain in the bloc.
The latest draft seen by Reuters of Britain's "new settlement" with the EU shows disagreement over the conditions for granting leeway to national regulators whose currencies are outside the euro zone.
Where negotiators had hoped to settle issues of economic governance before the summit, the final draft leaves a key section on financial regulation in square brackets, indicating it will be thrashed out at the top political level.
Britain plans to hold a referendum, probably in June, on whether to stay a member of the EU and the draft, which maps out a new deal with the EU, is aimed at persuading Britons to stay in the 28-country bloc.

The draft says regulators outside the euro zone, such as the Bank of England in London, are responsible for supervision of their own banks and markets when it comes to preserving financial stability.
But this is subject to two conditions which lawmakers in Britain have said negates the freedom being offered.

The latest draft still says that a regulator such as the BoE must take into account the "requirements of group supervision" - a reference to the European Central Bank, which is the group supervisor for the euro zone's top lenders which have operations in London.
Secondly, "this is without prejudice to the development of the single rulebook" and to "the existing powers of the Union institutions and relevant Union bodies to take action that is necessary to respond to threats to financial stability," the draft text says.

The ECB would be included in a list of relevant union bodies, adding to concerns over the scope for the BoE to regulate its own markets.

(Reporting by Huw Jones; Editing by Keith Weir)