India Current Affairs - 2020

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Nikkei India Services Business Activity Index: Key Facts

The seasonally adjusted Nikkei India Services Business Activity Index report makes the following observations about the Services Business Activity in India:

  • The index witnessed a drop for the second straight month in January to 52.2 from 53.2 in December.
  • The fall indicates a softer expansion in output.
  • The growth was supported by favourable public policies, enhanced capacities and greater demand.
  • The upturn was curbed by competitive pressures and election uncertainty.
  • The report notes that a sharp and accelerated rise in manufacturing production counteracted the slowdown in activity growth across the service economy.
  • The report notes that Business activity growth in the Indian service sector cooled further at the start of 2019, amid the weakest upturn in new work since last September.
  • Optimism regarding the outlook was sustained and the companies have continued to hire. The job creation was at a three-month high
  • Even though the inflation rates remained mild by historical standards, the costs rose to a greater extent than in December.
  • There was a moderate increase in sales that was the weakest in four months. The slowdown was centred on the domestic market as new orders from abroad grew to the greatest extent since last September.

Expansion rates in the Indian service sector have been at similarly modest levels for the past four months and the data for January extends the trend. There is some sign that growth may run out of steam, in the short-term at least, as seen by the weakest improvement in demand for four months and relatively subdued optimism.

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International conference on Guru Padmasambhava in New Delhi

An International Conference on 8th century Himalayan sage Guru Padmasambhava was held in New Delhi. The conference was organised as part of events to commemorate 50-years of formalization of diplomatic ties between India and Bhutan.

Guru Padmasambhava

Guru Padmasambhava was born in India and travelled all across Himalayan region in the 8th century to spread Buddhism and Buddhist teachings.

Guru Padmasambhava is highly revered in Bhutan. There is an image or painting of the Guru Padmasambhava in every Bhutanese home or temple.

Guru Padmasambhava was also known as Guru Rinpoche is widely venerated as a “second Buddha” by adherents of Tibetan Buddhism in Tibet, Nepal, Bhutan, the Himalayan states of India, and elsewhere.

Guru Padmasambhava is also considered to be the founder of Nyingma tradition, oldest of the four major schools of Tibetan Buddhism.

India-Bhutan Diplomatic Relations

The diplomatic relations between India and Bhutan were established in 1968. India established a special office of India in Thimphu in 1968. Prior to this, Indian diplomatic relations with Bhutan were looked after by Indian Political Officer in Sikkim.

The India-Bhutan bilateral relations are governed by the Treaty of Friendship and Cooperation signed in 1949 between the two countries. The treaty was revised in February 2007. The India-Bhutan Friendship Treaty together with reflecting the contemporary nature of our relationship lays the foundation for their future development in the 21st century. India and Bhutan are celebrating the Golden Jubilee of the establishment of formal diplomatic relations between the two countries.

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