Kyrgyz Republic Current Affairs
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The first India-Central Asia Dialogue will be held in Samarkand, Uzbekistan on January 12 and 13. The Dialogue will be co-chaired by External Affairs Minister (EAM) Sushma Swaraj and the Foreign Minister of Uzbekistan, Abdulaziz Kamilov.
The Foreign Ministers of Kyrgyz Republic, Tajikistan, Turkmenistan and Kazakhstan will participate in the event. The Foreign Minister of Afghanistan will participate in the dialogue as a special invitee for the session dedicated to connectivity issues in the region.
Objective of the Dialogue
India and the Central Asian countries are bound together through shared history and cultural linkages. The objectives of the first India-Central Asia Dialogue are:
- To enhance their cooperation in wide-ranging spheres including exploring ways to substantially enhance India’s economic involvement in business and development sector of Central Asia.
- Developing viable connectivity options between India and Afghanistan and Central Asia to further facilitate trade and economic activity in the region.
- Strengthen India’s engagement, including political, economic, development partnership and cultural, with all the Central Asian countries and take it to a new level.
The first India-Central Asia Dialogue aims at taking forward the bilateral relations which have strengthened following the Prime Minister Narendra Modi’s visit to all the five Central Asian nations – Kazakhstan, Kyrgyzstan, Tajikistan, Turkmenistan, and Uzbekistan – in 2015 and the EAM’s tour across the region in August 2018.
Tags: Abdulaziz Kamilov • Afghanistan • India-Central Asia Dialogue • Kyrgyz Republic • Narendra Modi • Prime Minister • Samarkand • Sushma Swaraj • Tajikistan • Turkmenistan and Kazakhstan • Uzbekistan
As per the World Bank report- Migration and Remittance Flows: Recent Trends and Outlook-2013-16, India is the largest recipient of foreign remittances among developing economies in 2013.
Migration and Remittance Flows: Recent Trends and Outlook-2013-16 report:
- Non-Resident Indians (NRI) remitted a record $71 billion in 2013 compared to $70 billion in 2012.
- The remittances are likely to increase to $85 billion annually by 2015.
- India and China will represent nearly 1/3rd of total remittances to the developing world in 2013.
For India, nearly 40% of the remittances came from the gulf countries while 48% flowed from South Asian countries.
- The developing world is expected to receive $414 billion in migrant remittances in 2013, an increase of 6.3% over year 2012. This is projected to surge to $540 billion by 2016.
- Globally, the world’s 232 million international migrants are expected to remit earnings worth $550 billion in 2013 and over $700 billion by 2016.
The top recipients of officially recorded remittances for 2013 are:
- India – $71 billion
- China – $60 billion
- The Philippines – $26 billion
- Mexico – $22 billion
- Nigeria – $21 billion
- Egypt – $20 billion
As a percentage of GDP, the top recipients of remittances, in 2012, were Tajikistan (48%), Kyrgyz Republic (31%), Lesotho and Nepal (25% each), and Moldova (24%). The volume of remittances in India is larger than the income from IT exports. With the depreciation of the Indian rupee, a rise in remittances is expected as NRIs take advantage of the cheaper goods, services and assets back home.
What is Remittance?
A remittance is a transfer of money by a foreign worker to his or her home country or simply sending amount from one country to another.