Wed, Aug 23, 2017 | updated 12:29 AM IST

New cities would be important in creating new India: PM Modi

Updated: Jan 10, 2017 00:57 IST      
New cities would be important in creating new India: PM Modi

Gandhinagar (Gujarat) [India], Jan. 10 (ANI): Reiterating his views on importance of smart cities in paving way for India's development, Prime Minister Narendra Modi, on Monday, said that new cities would be important in creating the new India.

"You are aware of the importance I attach to the development of smart cities. Gift city is the first ground up truly smart city in the country...I have said before that India can become a developed country in one generation. New cities will be important in creating the new India of our dreams," said Prime Minister Modi, while inaugurating India International Exchange at GIFT city, here.

Finding Indian talent working abroad, Prime Minister Modi said that he wanted to bring Indian brains back to the country and provide leadership to the entire financial world at the same time.

"In those days, as now, wherever I went, I would meet some of the top financial brains of those countries. Whether in New York, London, Singapore, Hong Kong or Abu Dhabi, I would find many of them to be of Indian origin. I was impressed by their understanding of the financial world, and also their contributions to their adopted countries," the Prime Minister said.

"I used to think, "How can we bring this talent back and at the same time, provide leadership to the entire financial world?" he added.

While recalling India's contribution in mathematics, the Prime Minister said Indian brains have excelled in fields of information technology and finance.

"Indians have a long tradition in mathematics. India invented the concept of 'zero' and the 'decimal system' more than two thousand years ago. It is no accident that Indians are now at the forefront of Information Technology and Finance, both areas of knowledge, where zero plays a crucial role!" he said.

Putting light on services that the International Exchange would be providing, Prime Minister Modi further said, it would set new standards for quality of service and speed of transactions across the time zones.

"I am told this exchange will trade in equity, commodities, currencies and interest rate derivatives in the first phase. Later, it will trade equity instruments of Indian and foreign companies. I am told Masala bonds will also be available for trading here," he said.

The Prime Minister also told that the exchange is set to be among the fastest exchanges in the world, with most modern trading, clearing and settlement systems.

Taking it back to the time when he was serving as the chief minister of Gujarat, the Prime Minister said it was then, when the Gift city was conceptualised, with the vision of providing facilities and the ability to transact in all markets in the world and with the inauguration of the Exchange, a crucial landmark was achieved.

"Gift city was born out of this vision. Our aim was to provide world class facilities to India's world class talent in finance and technology. Today, with the inauguration of this Exchange, we have reached an important landmark in achieving that vision," he said.

Expressing confidence in the concept of gift city, the Prime Minister said it would help in mitigating many of the criticisms and would end up becoming the price setter for some of the largest traded instruments in the world.

"There has been criticism for long that a lot of trading, even in Indian financial instruments, is currently taking place abroad. It is said that India has stopped becoming the price setter for even some Indian financial instruments. Gift city will be able to mitigate many of these criticisms. But my vision for Gift City is larger. My vision is that in ten years from now, Gift city should become the price setter for at least a few of the largest traded instruments in the world, whether in commodities, currencies, equities, interest rates or any other financial instrument.," he said.

The Prime Minister said the international exposure, which the youth would be able to get from Gift city, would ensure that more and more of them would be able to join this important field.

He also urged Indian companies, exchanges and regulators, to help create a pool of experienced and world beating finance professionals. (ANI)

Andhra CM lauds anti-corruption helpline no. 1100

Updated: Aug 23, 2017 00:18 IST     

Amravati (Andhra Pradesh) [India], Aug 23 (ANI): Andhra Pradesh Chief Minister Chandrababu Naidu on Tuesday lauded the state government for introducing the helpline number 1100 in a bid to curb corruption and said the 'first of its kind' initiative is performing effectively.

Full Story >>

New Delhi [India], August 22 (ANI): Union Home Minister Rajnath Singh on Tuesday chaired the 42nd Annual General Body Meeting of the Nehru Memorial Museum and Library (NMML).

Full Story >>

New Delhi [India], August 22 (ANI): Lawyer in Shah Bano Case, Arif Mohammad Khan on Tuesday praised the Modi-led government for its resolve in delegitimising triple talaq stating that with this decision the Muslim women will live with equality in the country.

Full Story >>

Lucknow (Uttar Pradesh) [India], August 22 (ANI): The Additional Director General of Police Uttar Pradesh Anand Kumar on Tuesday said that the Centre has ordered enforcement agencies of various states to take cognizance of the Blue-Whale Challenge and ensure complete ban on the online dare which has claimed numerous lives.

Full Story >>

Ex-Manipur chief minister Rishang Keishing passes away at 98

Updated: Aug 22, 2017 23:25 IST     

Imphal (Manipur) [India], August 22 (ANI): Former Manipur chief minister and Rajya Sabha MP Rishang Keishing passed away on Tuesday.

Full Story >>

Bhubaneswar (Odisha) [India], Aug 22 (ANI): Union Minister Dharmendra Pradhan on Tuesday hit out at Odisha Chief Minister Naveen Patnaik and said that the latter is befooling the people by ensuring them a better future for the state.

Full Story >>

Delhi HC restricts protest outside Kejriwal's residence

Updated: Aug 22, 2017 23:23 IST     

New Delhi [India], August 22 (ANI): The Delhi High Court on Tuesday restricted conducting of any type of protests in front of Delhi Chief Minister Arvind Kejriwal's Civil lines residence in the national capital.

Full Story >>

Bihar Floods: Death toll rises to 341

Updated: Aug 22, 2017 22:04 IST     

Patna (Bihar) [India], August 22 (ANI): Additional Secretary Disaster Management Department of the Government of Bihar, Anirudh Kumar, on Tuesday said that 341 people have lost their lives in the state due to floods.

Full Story >>

4.2 magnitude earthquake hits Uttarakhand's Chamoli district

Updated: Aug 22, 2017 22:03 IST     

Chamoli (Uttarakhand ) [India], August 22 (ANI): An earthquake of magnitude 4.2 on the Richter scale jolted Uttarakhand's Chamoli district on Tuesday night at around 8:52 p m.

Full Story >>

Rajnath Singh hails SC triple talaq verdict as 'historic act'

Updated: Aug 22, 2017 22:02 IST     

New Delhi [India], August 22 (ANI): Union Home Minister Rajnath Singh on Tuesday hailed the Supreme Court's verdict on triple talaq as a 'historic act' of judicial courage.

Full Story >>

Amravati (Andhra Pradesh) [India], Aug 22 (ANI): To provide equality and a better living standard to every individual of the state, Andhra Pradesh Chief Minister Chandrababu Naidu on Tuesday asserted that the state government is planning to provide pensions to the transgender community.

Full Story >>

New Delhi [India], Aug.22 (ANI): The Central Bureau of Investigation (CBI) on Tuesday filed a supplementary charge sheet against Rashtriya Janata Dal (RJD) leader Shahabuddin accusing him of criminal conspiracy and murder in the killing of journalist Rajdeo Ranjan.

Full Story >>

Gorakhpur (Uttar Pradesh) [India], Aug 22 (ANI): Uttar Pradesh Chief Secretary Rajive Kumar on Tuesday submitted a report compiled by the four-member inquiry panel on the death of dozens of children in Gorakhpur's BRD Medical College to Chief Minister Yogi Adityanath.

Full Story >>

Odisha Govt, FICCI join hands to promote culture, tourism

Updated: Aug 22, 2017 20:53 IST     

New Delhi [India], Aug 22 (ANI): In a bid to boost Odisha's culture and tourism, the Government of Odisha, in collaboration with the Federation of Indian Chambers of Commerce & Industry (FICCI), will organise the first ever Odisha Travel Bazaar in October in Bhubaneshwar.

Full Story >>

Man arrested for smuggling rare Indian Star Tortoises

Updated: Aug 22, 2017 20:47 IST     

Chennai (Tamil Nadu) [India], August 22 (ANI): The Directorate of Revenue Intelligence and the Forest Protection Squad in Tamil Nadu have confirmed the arrest of a person for keeping 2515 rare Indian Star tortoises for smuggling purposes.

Full Story >>

Lt. Colonel Shrikant Purohit to be released soon

Updated: Aug 22, 2017 20:46 IST     

New Delhi [India], Aug 22 (ANI): A special NIA Court issued the release order for Lt Colonel Prasad Shrikant Purohit, the main accused in the 2008 Malegaon blast case on Tuesday.

Full Story >>

Bareily acid attack: One of the four accused arrested

Updated: Aug 22, 2017 20:43 IST     

Bareily (Uttar Pradesh) [India], Augsut 22 (ANI): The main accused in the acid attack on two minor girls in Bareily has been arrested by the police here.

Full Story >>

Amravati (Andhra Pradesh) [India], Aug 22 (ANI): Andhra Pradesh Chief Minister Chandrababu Naidu on Tuesday asserted that providing good governance is the objective of his government.

Full Story >>

New Delhi [India], August 22 (ANI): The Union Finance Minister Arun Jaitley, on Tuesday, upheld the Supreme Court's decision of banning the practice of Triple Talaq in Islam by calling it a "great victory" for the progressive aims of the country.

Full Story >>

Kolkata (West Bengal) [India], August 22 (ANI): The Gorkha National Liberation Front (GNLF) chief Mann Ghising on Tuesday wrote a letter to West Bengal Chief Minister Mamata Banerjee, requesting high level intervention to end present crisis in Darjeeling.

Full Story >>