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Economic Newsletter – July 2019

Economic

 Focus Issues  High Impact News
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India ready to set up own Space Station
IAfter having successfully entered the Mars orbit in its first attempt and given the world evidence of water on the moon, India announced plans to set up its own space station, marking its biggest leap yet in space exploration.The International Space Station (ISS) circling the earth 400km....
 
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Visit of Indian Prime Minister to Sri Lanka
Prime Minister Shri Narendra Modi visited Sri Lanka on 09 June 2019 to express India’s solidarity for fight against terrorism. Premier Modi is also the first foreign leader to visit Sri Lanka after the Islamist terrorist attack on Easter Sunday. During the visit, both sides held extensive discussions, covering issues pertaining...
 
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India becomes most favouredinvestment destination for sovereign wealth and pension funds
Sovereign wealth funds are piling into India, buying stakes in everything from airports to renewable energy, attracted by political stability, a growing middle class and reforms making it more enticing for foreigners to invest.
Wealth and state pension funds are expanding...
 
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Eastern Province completing the roll out island-wide.
The Emergency Ambulance Service was launched in the Eastern Province in a special ceremony held on 23June 2019 in Ampara. Few Ministers of Sri Lanka, High Commissioner of India, and other dignitaries graced the occasion. With this, the island-wide expansion of the Emergency Ambulance Service...
 
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FDI flows to India on the rise: UN Report
Foreign Direct Investment (FDI) to India grew by 6 per cent to USD 42 billion in 2018, with strong inflows in the manufacturing, communication and financial services sectors, and cross-border merger and acquisition activities, according to a UN report that ranked India among the top 20 host economies for FDI inflows in 2017-18.FDI inflows...
 
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5th International Day of Yoga was celebrated in Colombo on 15 June.
The 5th International Day of Yoga was celebrated at the iconic Independence Square on 15th June 2019. High Commission of India organized the mega event with the gracious presence of Ministers Dr. Rajitha Senaratne, GayanthaKarunathilaka, PalaniDigambaran as the Guests...
 
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India leads the world in data usage per smartphone: Report by Ericsson
IA report by Swedish telecom equipment maker Ericsson said that India has the world’s highest data usage per smartphone at an average of 9.8GB per month, and this will double to 18GB by 2024.Improved device penetration, affordable data tariff plans, and increase in data-intensive content such as videos are driving this growth in India....
 
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Second Special Visit to Bodh Gaya by Sri Lankan Armed Forces Personnel
The High Commission of India organized the second edition of special pilgrimage trip to Bodh Gaya from 15 - 18 June 2019 for 160 personnel of Sri Lanka armed forces and their families. This special pilgrimage was started last year based on discussions held between the two countries towards increasing interaction and bonhomie between...
 
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Govt to build 35,000 km of national highways by 2022: President Kovind
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erming infrastructure as pivotal in propelling prosperity and growth, President Ram Nath Kovind Thursday said the government's endeavour is to build 35,000 km of highways, besides expressways, by 2022 and to lay a strong foundation for urban infrastructure that will encourage employment generation....
 
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1600 trees planted to commemorate 150th Birth Anniversary of Mahatma Gandhi at Mahatma Gandhi Puram, Dunsinane Estate, NuwaraEliya
A special tree planting ceremony was organized on June 20, 2019, at Mahatma Gandhi Puram, village named after Mahatma Gandhi that was built with Indian Assistance and inaugurated last year Dunsinane Estate in NuwaraEliya to commemorate 150th Anniversary of Mahatma Gandhi, World Environment Day and International Day of Yoga ...
 
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