Bharat Parv

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                                             PC- India.com       ‘Bharat Parv’ event was held at Red Fort (Lal Quila), Delhi as part of the Republic Day 2018 celebrations. The event has been organized by the Government of India at the Red Fort, Delhi from 26th to 31st January, 2018.         The prime objective of organizing the event is to generate a patriotic mood, promote the rich cultural diversity of the country and to ensure wider participation of the general public.  The event was open for public and entry is free. However, identity proof is to be carried for entry to the event.         The Ministry of Tourism has been designated as the nodal Ministry for the event, the highlights of which include Display of Republic Day Parade Tableaux, Performances by the Armed Forces Bands (Static as we...
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European Bank for Reconstruction & Development Approves India's Membership

                                           PC: Egypt Today

 The shareholders of European Bank for Reconstruction and Development (EBRD) have given their nod to India’s candidature to international financial institution. With this, India will become the 69th member of EBRD. The move follows Indian Government’s application to seek membership of EBRD back institution. With this, India will become the 69th member of EBRD. The move follows Indian Government’s application to seek membership of EBRD back in December 2017. It will set stage increase in joint investment with Indian companies in EBRD’s regions of operation.


What is European Bank for Reconstruction & Development (EBRD)

       The European Bank for Reconstruction and Development (EBRD) was established to help build a new, post-Cold War era in Central and Eastern Europe. It has since played a historic role and gained unique expertise in fostering change in the region - and beyond. ERBD's mission is to develop open and sustainable market economies is countries committed to, ans applying democratic principles. ERBD was founded in 15 April, 1991.
Impact On India

  •         Membership of EBRD would enhance India's international profile and promote its economic interests. Access to EBRD's Countries of Operation and sector knowledge.
  •         India's investment opportunities would get a boost.
  •         It would increase the scope of cooperation between India and EBRD through co-financing opportunities in manufacturing, services, Information Technology, and Energy.
  •        EBRD's core operations pertain to private sector development in their countries of operation. The membership would help India leverage the technical assistance and sectoral knowledge of the bank for the benefit of development of private sector.
  •        This would contribute to an improved investment climate in the country.
  •         The membership of EBRD would enhance the competitive strength of the Indian firms, and provide an enhanced access to international markets in terms of business opportunities, procurement activities, consultancy assignments etc.
  •         This would open up new vistas for Indian professionals on the one hand, and give a fillip to Indian exports on the other.
  •         Increased economic activities would have the employment generating potential.
  •         It would also enable Indian nationals to get the employment opportunity in the Bank.

Financial Implications:

The minimum initial investment towards the membership of EBRD will be approximately €1 (one) million. However, this assumption is based on India deciding to buy the minimum number of shares (100) required for obtaining the membership. If India were to buy a higher number of Bank shares, the financial implications could be higher. In-principle approval of the Cabinet at this stage is being obtained for joining the Bank.


Sources: ERDB, PIB

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