The document summarizes discussions from a conference on water security and sustainability organized by the Indian Ocean Rim Association (IORA). Key points addressed include: - Water management is an emerging priority for IORA countries due to factors like population growth, climate change, and water scarcity. - Speakers emphasized the need for a holistic, long-term and collaborative approach involving technology, policy reforms, and multi-stakeholder partnerships to address water issues in IORA nations. - Sessions at the conference focused on optimizing tools and technologies for efficient water use, wastewater recycling, and applying decision support systems for improved water resource planning.

1. 1
Message from Mr Chandrajit Banerjee,
Director General, CII
B
RICS comprises the
world’s largest emerging
economies and their
contribution to the global
economy is expected to
increase exponentially. India accords
huge importance to the BRICS forum
for promoting global economic growth
and co-operation on the economic front.
India, over the years, has developed
cohesive strategic relationships with the
other member countries and collectively
with these economies has the potential
to transform BRICS to a powerful
economic bloc.
India is seeking to set up a BRICS
rating agency to cater to the needs
of corporate entities as well as the
financial needs of developing nations. It
has urged BRICS nations to focus and
establish policies to work collectively for
a digital, skilled, healthier, equitable and
harmonious world. To enhance the trade
and investment among BRICS nations,
a cooperation mechanism is being
established in areas such as economics
and trade, innovation, capacity building,
connectivity and infrastructure. To
reduce the dependence on fossil fuels,
BRICS countries are seeking to work
with the International
Solar Alliance with
the aim of countering
climate change.
The September issue of
Multilateral Newsletter
captures the role of BRICS in the
developing world and its contribution
to the global economy, several new
cooperation mechanisms to foster cross
border trade and investments and remarks
by Hon’ble Prime Minister of India at the
9th BRICS Summit. It also includes the
highlights of the discussions and key
takeaways of the Indian Ocean Rim
Association (IORA) Conference on Water
Security & Sustainability and highlights
of the ASEAN Session at the 14th CII
Global MSME Business Summit. In
addition to this, the Newsletter highlights
the key trade engagements of India with
Organization for Economic Cooperation
and Development (OECD), World
Economic Forum (WEF), United Nations
Industrial Development Organization
(UNIDO), Bay of Bengal Initiative for
Multi-Sectoral Technical and Economic
Cooperation (BIMSTEC), World Bank
(WB) and Asian Development Bank
(ADB).
iNSIDE
Focus Story
BRICS: The Role of Brics in
Developing World����������������������������������� 2
Remarks By Shri Narendra Modi,
Hon’ble Prime Minister of India At
The Brics Summit������������������������������ 3
MULTILATERAL INITIATIVES
Water Management - An Emerging
Priority For IORA Countries���������������� 4
14th
CII Global MSME Business
Summit��������������������������������������������������� 6
OECD
Indian Economy To Grow 6.7% in
2017-18������������������������������������������������� 10
WEF
India is World's 40th
Most
Competitive Economy������������������������� 11
India Up 2 Spots On WEF Human
Capital Index��������������������������������������� 11
UNIDO
UNIDO Support to Promote The New
Industrial Revolution in Brics��������� 12
BIMSTEC
BIMSTEC For Prioritising, Fast
Tracking Areas Of Cooperation�������� 13
World bank
World Bank Group Country
Engagement Dialogue 2017-18���������� 14
Improving The Seismic Resilience of
Dams in India: A Case of Maithon
Dam, Jharkhand State������������������������ 15
ADB
ADB Plans to Raise Annual Lending
to India to $4 Billion�������������������������� 16
$300 Million Loan To Promote Further
Fiscal Reforms In West Bengal��������� 17
Indusind Bank Secures $200 Mn Loan
from ADB for Microlending��������������� 18
September 2017, Volume 4, Issue 9

2. 2
T
he economies of Brazil, Russia,
India, China and South Africa
together form the BRICS
grouping - a unique assemblage
of the world’s largest economies.
Individually and collectively these
nations occupy far greater economic
space and are pitted to be amongst
the world’s largest economies in the
near future. BRICS economies account
for 43% of world population, $17
trillion or 22% of nominal global GDP
and 17% of world trade. Each of the
countries has different strengths and
characteristics, and a closer alignment
of their complementarities bear positive
implications for their growth process as
well as that of the world at large. In
today’s G-20 countries’ forum, BRICS
countries are playing a formidable role
in shaping the macroeconomic policy.
China hosted the 9th BRICS Summit
during its Chairmanship on 3-5
September 2017 in Xiamin, China. The
theme of China’s BRICS Chairmanship
was “Stronger Partnership for a Brighter
Future”. The Summit witnessed strong
presence from the global leaders as well
as captains of industry from these 5
developing economies. There was strong
participation from CII at the Summit
across different sessions. The CII
delegation was led by Mr T V Narendran,
Member Managing Director, BRICS
Council Tata Steel Ltd.
In its effort to foster cross-border trade
and investment to keep the engines of
the global economy humming smoothly,
several new cooperation mechanisms
took the centerpiece at the BRICS
Summit.
First-BRICSActionAgendaonEconomic
and Trade Cooperation lays down the
F ocus S tor y
BRICS: The Role of Brics in Developing World
emphasis on Implementation of WTO
Trade Facilitation Agreement, strengthen
cooperation on the basis of Framework
for BRICS Single Window Clearance,
E-Port Network and setting up of BRICS
E-Port Network to encourage information
sharing and improve Connectivity. In
addition, Investment Facilitation, Trade
in Services Cooperation, E-Commerce
Cooperative, development of IPR
Cooperation and overall transparency
are efforts buttressed to form strong
international partnerships between the
BRICS nations.
Second - BRICS Action Agenda on
Innovation Cooperation - As large and
populous emerging economies, the
BRICS nations will be impacted by the
evolving industrial revolution based
on automation, robotics and digital
technologies which is reshaping supply
chains. Innovation and RD are being
promoted in all the countries, and
mechanisms to share best practices
and devise common responses becomes
essential for the development process.
The formation of BRICS Action Agenda
on Innovation Cooperation aims to
promote cooperation in Innovation and
RD as well as Youth Innovation and
Entrepreneurship, thereby bringing
a pragmatic approach to pave way
for facilitating innovation – driven
sustainable development for these
economies.
Third - Strategic Framework of BRICS
Customs Cooperation – The strategic
framework specifies “information
exchange, mutual recognition of
supervision and mutual assistance
in law enforcement” as principles
in the cooperation, and confirmed
trade facilitation, security and law
enforcement, emerging affairs, capacity
building and coordination within a
multilateral framework as priorities for
BRICS.
Fourth - In the connectivity and
infrastructure area, while the NDB has
made a good beginning, there is need
to leverage the competencies of Russia
and China for addressing gaps in the
other three countries.
In addition, public-private partnership
models need to be developed to build
new infrastructure. For example, large
projects can have participation of public
and private companies, converging
consultancy from India with project
management expertise from China and
resources from Brazil and Russia. Such
partnerships should be structured in a
manner that incentivizes private sector
participation.
To fully harness the respective
resource advantages and professional
expertise, build a long-term, stable
and mutually beneficial relationship,
and jointly promote the cooperation
and development of BRICS countries a
Memorandum of Understanding between
the BRICS Business Council and the
New Development Bank on Strategic
Cooperation was signed during the
Summit on 4th September 2017.
Considering the huge infrastructure
funding gap for the Indian economy,
an increasing role of international
development banks especially the NDB
in funding infrastructure development
will result in greater project bankability
and make investment more sustainable
for infrastructure projects in India.

3. 3
T
he BRICS nations should form
collective policies and actions
to create a safe world through
organised and coordinated action and
cooperation on counterterrorism, cyber
security and disaster management, Modi
said, while addressing the ‘Dialogue
of Emerging Markets and Developing
Countries’ here in what was his first
engagement on the last day at the
BRICS summit.
Calling for an inclusive world, where the
poorest of the poor are integrated into
the financial mainstream, the PM said:
“The countries present here together
will have an impact on the world. So it
is our sovereign duty that whatever we
do should make a better world brick-by-
brick through BRICS.” He also urged the
BRICS nations should “work collectively
for a digital, skilled, healthier, equitable
and harmonious world”.
Highlighting India’s growing engagement
with Africa in multiple sectors and the
International Solar Alliance, a global
initiative launched by Modi is to reduce
dependence on fossil fuel, the PM said:
“The BRICS countries should team up
with the International Solar Alliance for
mutual gains through proper utilisation
of solar power.”
The PM pitched for setting up of a
BRICS credit ratings agency to counter
the western rating institutions and cater
to the financial needs of sovereign
F o c u s S t o r y
Remarks By Shri Narendra Modi, Hon’ble Prime
Minister of India at the Brics Summit
and corporate entities of developing
nations.
The Hon’ble Prime Minister also called
for a proactive approach, policies, and
action, on the following ten Noble
Commitments:
Creating a Safer World: by organized––
and coordinated action on at least
three issues: Counter Terrorism,
Cyber Security and Disaster
Management;
Creating a Greener World: by taking––
concerted action on countering
Climate Change, through initiatives
such as the International Solar
Alliance;
Creating an Enabled World: by––
sharing and deploying suitable
technologies to enhance efficiency,
economy and effectiveness;
Creating an Inclusive World: by––
“ Fo c u s i n g o n d e ve lo p m e n t
partnership, the development agenda
of the BRICS countries lies with
“SABKA SAATH, SABKA VIKAS”
(with all, development for all). We
need to work together to create
a greener world and mitigate the
menace of climate change”
Shri Narendra Modi
Prime Minister of India
economic mainstreaming of our
people including in the banking and
financial system;
Creating a Digital World: by bridging––
the digital divide within and outside
our economies;
Creating a Skilled World: by giving––
future-ready skills to millions of our
youth;
Creating a Healthier World: by––
cooperating in research and
development to eradicate diseases,
and enabling affordable healthcare
for all;
Creating an Equitable World: by––
providing equality of opportunity
to all, particularly through gender
equality;
Creating a Connected World: by––
enabling free flow of goods, persons
and services; and,
Creating a Harmonious World: by––
promoting ideologies, practices, and
heritage that are centered on peaceful
coexistence and living in harmony
with nature.
Going forward, what the BRICS countries
do together will be closely watched by
the world, especially by other developing
nations, as these countries will be
leading economies of the future. The
Summit deliberations gave a strong
impetus to cooperation and collaboration
for all-round sustainable development of
all emerging economies.

4. 4
MULILATERAL INITIATIVES
IORA
M
inistry of External Affairs,
Government of India, in
close coordination with the
Confederation of Indian Industry and
its Center of Excellence CII-Triveni
Water Institute, organized the “IORA
Conference on Water Security
Sustainability”, in New Delhi. The
conference provided a platform for
interaction among key officials of Indian
Ocean Rim Association (IORA) countries
towards building a resilient and water
secure region for the future.
There was a strong participation from
IORA countries with a turnout of
around 12 countries including Austrailia,
Bangladesh, Comoros, France, Iran,
Madagascar, Mozambique South Africa,
Mauritius, Seychelles, Sri Lanka, and
UAE.
The speakers at the Inaugural Session
included H.E Amb K V Bhagirath,
Secretary-General, IORA; Hon. Ms.
Karlene Maywald, Former Minister for
Water, South Australian Government, and
International Advisor South Australian
Government; Mr Sanjay Panda, Joint
Secretary - IOR Division, Ministry of
External Affairs Government of India;
Dr M Ariz Ahammed, Mission Director,
National Water Mission, Ministry of
Water Resources, River Development and
Ganga Rejuvenation; Dr Mandla Msibi,
Group Executive, Innovation and Impact,
Water Research Commission, South
Africa ; Mr Ramesh Datla, Chairman,
CII National Committee on Water.
H.E Amb K V Bhagirath, Secretary-
General, IORA, mentioned that water
was a growing concern and needed
Water Management - An Emerging Priority For
IORA Countries
due focus. He mentioned that a working
group on water would soon need to be
formulated. He also mentioned about the
SAGAR (Security and Growth for All in
the Region) program launched by the
Hon’ble Prime Minister of India. SAGAR
aims to actively pursue and promote
geopolitical, strategic and economic
interests in the Indian Ocean.
Hon. Ms. Karlene Maywald, Former
Minister for Water, South Australian
Government, and International Advisor
South Australian Government, mentioned
that long term strategic decisions need
to be backed by scientific analysis, use
of appropriate technology and conducive
policy environment as an enabler of
sustainable resource management.
Mr Sanjay Panda, Joint Secretary - IOR
Division, Ministry of External Affairs
Government of India informed about
the initiatives taken by South Africa
in bringing water issues to the main
agenda of IORA. He emphasised on
the importance and need for water
management in IORA countries on
aspects related to technology and
policy reforms for efficient water use,
wastewater treatment, prevention of
contamination of freshwater systems
including impact of climate change.
Dr M Ariz Ahammed, Mission Director,
National Water Mission, Ministry of
Water Resources, River Development and
Ganga Rejuvenation, emphasized for a
holistic approach focusing on bridging
water demand-supply gap with requisite
technological intervention to embark
on water security. The quantity and
quality of water resources needs to be
given due importance in an integrated
manner, added Dr Ahammed. He also
shared a holistic framework that the
National Water Mission is developing
for undertaking State Specific Action
Plan on Water.
Dr Mandla Msibi, Group Executive,
Innovation and Impact, Water Research
Commission, South Africa, emphasized
the need for innovative technologies and
multi-stakeholder partnership to address
water issues. He mentioned that issues
need to be addressed through a collective
approach that involves multi-disciplinary
teams.
Mr Ramesh Datla, Chairman, CII National
Committee on Water - In his opening
remarks, he stated the importance
of Indian Ocean in sustenance of
ecosystem, economy, trade and food
security of Indian Ocean rims countries.
He highlighted the impact of climate
change, contamination, unsustainable
livelihood practices on the ocean and
need of policy makers, scientists and
to come together in managing the vital
resource. He appreciated this initiative
of CII, government of India and IORA in
bringing water security in the member
countries.
The conference deliberated on Optimizing
tools, techniques technologies for
improving efficiency in Fresh Water Use
and Waste Water Recycling; Application
of State-of-the-art Decision Support
systems WATSCAN and Technology for
Water Resource Planning at local scales;
and Scaling up of Promising Solutions
for Water Security in the Indian Ocean
Rim.

5. 5
MULILATERAL INITIATIVES
IORA
The session on “Optimizing tools,¾¾
techniques technologies for
improving efficiency in Fresh
Water Use and Waste Water
Recycling”
Outcome / Recommendations:
40% of the population in IORA•
countries experience water
scarcity, and the demand is likely
to increase in coming years with
population growth and climate
change.
Water shortage is not an issue,•
what we need to deal with is
mismanagement of the resource
as a considerable amount of fresh
water is going to sea. 10,800
BCM of water is available in
Indo-Gangetic plains which has
not been harnessed.
Water should be accepted as an•
Key takeaways from the plenary sessions are
mentioned below:-
economic commodity and waste
water should be a considered a
resource too.
Water should be managed•
holistically, in a sustainable
manner without compromising
the productivity and efficiency of
the industrial units.
The session on “Application of¾¾
State-of-the-art Decision Support
systems and Technology for
Water Resource Planning at local
scales”
Outcome / Recommendations:
CII- Triveni Water Institute offers•
to extend its WATSCAN services
to the IORA countries presently
facing water scarcity, that are
likely to be exacerbated due to
climate risks.
Such tools will also help in•
measuring progress of the IORA
countries towards achieving
Sustainable Development Goal –
6 (SDG-6) i.e. ensuring access to
clean water sanitation for all.
The session on “Scale up of¾¾
Promising Solutions for Water
Security in the Indian Ocean
Rim”
Outcome / Recommendations:
Piloting a solution/ project is very•
important before scaling up as a
promising solution
Water efficiency shall not be over-•
looked for economic growth.
Capacity of water resource and•
water requirement must be
measured
INAUGURAL SESSION
L-R: Mr Ramesh Datla, Chairman, CII National Committee on Water; Dr M Ariz Ahammed, Mission Director,
National Water Mission, Ministry of Water Resources, River Development and Ganga Rejuvenation; Mr Sanjay
Panda, Joint Secretary – IOR Division Ministry of External Affairs Government of India; H.E Amb K V Bhagirath,
Secretary-General, Indian Ocean Rim Association; Dr Mandla Msibi, Group Executive: Innovation and Impact, Water
Research Commission, South Africa

6. 6
C
onfederation of Indian Industry
(CII) in partnership with
Ministry of MSME and Ministry
of External Affairs organized the 14th
Global MSME Business Summit 2017,
‘Fostering Growth through Partnerships’
on 19th – 20th September 2017 in New
Delhi and provided a crucial platform
for the exchange of ideas and best-
practices from MSME’s throughout the
world. The summit also deliberated on
encouraging cross border trade through
disseminating knowhow on assessing
the export potential of the products and
services of Indian MSMEs, identifying
suitable markets, developing strategies to
penetrate new markets, and singling out
avenues for joint ventures, franchising,
cross-marketing, co-manufacturing, etc.
in the countries and regions participating
in the summit.
14th
CII Global MSME Business Summit:
19-20 September 2017: New Delhi
The Inaugural Session witnessed the
participation of key ministers of the
Government of India emphasising
the importance of the MSME sector.
Speakers included Shri Giriraj Singh,
Hon’ble Minister of State for MSMEs
(I/C); Shri K J Alphons, Hon’ble Minister
of State for Tourism (I/C) and Minister
of State for Electronics and Information
Technology; Ms Preeti Saran, Secretary
(East), Ministry of External Affairs;
Dr. Arun Kumar Panda, Secretary,
Ministry of MSME; Mr Srikant Somany,
Chairman, CII National MSME Council
and Mr Vikram Golcha, Co-Chairman,
CII National MSME Council.
MSMEs comprising 51 million units
and producing diverse items form the
backbone of Industrial landscape. As
the world is gearing up for Industry
4.0, the MSME sector needs to pay
serious attention on manufacturing high
quality and technological products, said
Shri Giriraj Singh, Hon’ble Minister of
State for MSMEs (I/C). Highlighting
the role of Zero Effect Zero Defect in
MSME sector, the Hon’ble Minister
emphasized that technologies like 3D
printing can help in reducing cost and
time for MSMEs. Innovation is essential
for competitiveness and to acquire this
it is essential to understand and adopt
emerging technologies like Artificial
Intelligence (AI), Internet of Things
(IoT) etc. which are going to define
the future course for the industry, he
added. The minister also emphasized
that given that more than 60 percent
of India’s population still lives in rural
areas, it is equally important to tap the
entrepreneurship potential of MSMEs in
(L-R) Mr Vikram Golcha, Co-Chairman, CII National MSME Council; Ms Preeti Saran, Secretary (East), Ministry of
External Affairs, Government of India; Shri K J Alphons, Hon’ble Minister of State for Tourism and Minister of State for
Electronics and Information Technology, Government of India; Shri Giriraj Singh, Hon’ble Minister of State for MSMEs,
Government of India; Mr Shreekant Somany, Chairman, CII National MSME Council; Dr Arun Kumar Panda, Secretary,
Ministry of MSME, Government of India and Mr Chandrajit Banerjee, Director General, CII at the Inaugural Session.
MULILATERAL INITIATIVES
ASEAN

7. 7
agriculture sector as well and bring in
value addition in agro industries.
Underlining the role of technology, Shri
K J Alphons, Hon’ble Minister of State
for Tourism (I/C) and Minister of State for
Electronics and Information Technology
said, ‘We want the whole country to
benefit from technology’. Backed by
technology,’ Ease of Doing Business’
has improved dramatically in the past
3 years and is going to become better
in the coming times. Emphasizing on
the role of MSME’s in generating huge
employment in the tourism industry,
the minister underlined the need for
exploring other avenues, such as rural
agro tourism. Best practices of other
countries in Agro tourism should be
adopted to explore the opportunities in
the sector, he stressed.
On Indian-ASEAN economic cooperation,
Ms Preeti Saran, Secretary (East),
Ministry of External Affairs said that
current year being the 25th anniversary
of the ASEAN-India, a series of activities
have been taken during the course of
the year to celebrate our relationship
with ASEAN and will culminate in a
summit in January where Prime Minster
will be inviting all the leaders from the
ASEAN member countries. Ms Saran
also informed the audience of the various
measures taken by the Ministry of
economic affairs to promote the market
access and trade promotion activities
of the MSMEs.
On exploring SMEs’ partnership
opportunities with other countries
Dr. Arun Kumar Panda, Secretary,
Ministry of MSME emphasized on
the need for information sharing and
bridge building between counties
and sharing the best practices in the
areas of credit availability, Quality and
creating an ecosystem for MSMEs by
aligning “Process, Prices, People” (PPP)
to make process more efficient, and
prices more competitive. Dr Panda also
spoke on creating an incentive system
for upward graduation of micro to small
to medium enterprises so as to enable
them to achieve economies of scale and
incentivizing such graduation based on
employment and wealth creation.
Mr Chandrajit Banerjee, Director
General, CII highlighted that India’s
economic growth lies in the growth of its
MSMEs. CII has therefore taken a host
of measures to work towards building
capacity and helping towards creating
the requisite support services that will
enable them to flourish, according to
him. Mr Banerjee shared the initiatives
undertaken by CII to enable SMEs to
be competitive such as an online tool –
“The CII’s Recipe of Excellence” which
highlights a company’s weakest link such
that methods to strengthen and guide its
path to greater competitiveness could be
addressed, CII Finance Facilitation Centre
and the launch a Technology Facilitation
Centre. He also said that ASEAN–India
quotient is well on its way to becoming
a landmark partnership under the aegis
of the various activities being undertaken
celebrating the 25 Years of the strategic
dialogue partnership. The upcoming
Commemorative Summit scheduled in
January, 2018 will further cement this
engagement for posterity. The 14th
Global MSME Business Summit, with
ASEAN as a Partner Region was held at
a time when all eyes are on this region
and it is the ASEAN – India quotient
which has the biggest potential to be
a major source of global growth, he
added.
Mr Srikant Somany, Chairman, CII
National MSME Council, said that
MSME is an important pillar and has
been at 10 percent growth consistently
and the issues such as access to credit,
ease of doing business Technological
improvement, market access etc before
the sector needs to be addressed on
priority.
Mr Vikram Golcha, Co-Chairman, CII
National MSME Council said that the
challenge of the 21st century for MSME
is global competitiveness.
The Summit featured focused regional
and country sessions on ASEAN; United
Kingdom, France, Portugal, UAE, South
Korea, Singapore, Laos, Gulf the
Middle East, Cambodia to explore latest
global industry trends and to highlight
the emerging business opportunities
across the globe for gainful SME
partnerships.
Ministry of External Affairs organized
the First Joint Committee Meeting of
Mekong Ganga Cooperation (MGC)
Member Countries for Cooperation in
Micro, Small and Medium Enterprises
(MSMEs) Sector on the sidelines
of Global MSME Business Summit.
The meeting deliberations revolved
around exploring the potential areas
of collaboration between India and
MGC Countries on key facets such
as Technology and Innovation, skill
development and entrepreneurship.
MULILATERAL INITIATIVES
ASEAN

8. 8
I
ndia’s engagement with ASEAN
has been by way of implementation
of various projects in the fields of
Agriculture, Science Technology,
Space, Environment Climate Change,
Human Resource Development, Capacity
Building, New and Renewable Energy,
Tourism, People-to-People contacts
and Connectivity etc. Both India and
ASEAN are cognizant of their growing
need for a formal institutional framework
to facilitate and step up trade and
investment as a significant measure to
amplify opportunities for market access.
Knowledge sharing of best practices on
technology, skills and success stories in
MSME sector will also help to increase
the trade basket between the regions.
To strengthen this thinking, India
has reengineered its foreign policy in
such a way that it now looks outward
by realigning the internal dynamics
of the business landscape within the
country.
Special Plenary Session On ASEAN
The year 2017 marks the 25th
anniversary of the ASEAN – India
Dialogue Partnership and the 50th
anniversary of the ASEAN partnership.
A series of activities has been planned
by the Government of India to promote
and further embolden the ASEAN-India
relations through various multi-faceted
initiatives throughout the year.
As part of the calendar of Commemorative
activities, Confederation of Indian
Industry (CII) in association with
Ministry of External Affairs organized
a Special Plenary Session on ASEAN
during the 14th CII Global MSME
Business Summit on 19 September
2017 at India Habitat Centre, in New
Delhi, India.
ASEAN countries took the pride of
place representing the Partner Region
at this recently concluded Summit with
a most encouraging participation from
the ASEAN countries.
The Special Plenary Session on ASEAN
highlighted the institutional framework
for promoting collaboration in MSMEs
between India ASEAN countries to
address MSMEs challenges including
access to finance, developing skilled
workforce, and necessary incentives and
entrepreneurship.
ASEAN can create synergies not only
to improve the competitiveness of small
enterprises but also to connect them with
RVCs and GVCs. In this direction, there
is a need to encourage entrepreneurship
such that the economy is enriched with
new ideas and innovative business
models. The session aimed to build
bilateral and multi-lateral relationships
between India and its most important
ASEAN partners through greater SME
partnerships for mutual business
development and economic growth.
(L-R) Mr Vikram Golcha, Co-Chairman, CII National MSME Council; Ms Shalini Girish, Director, Google India; Mr David
Rasquinha, Managing Director, EXIM Bank of India, Mr Piyush Srivastava, Additional Development Commissioner, Ministry
of Micro, Small and Medium Enterprises; Mr Chour Cheth Tyvoin, Deputy Director General, Ministry of Industry and
Handicraft, Cambodia; Mr Keomorakoth Sidlakone, Deputy Director General, Department of SME Promotion Ministry of
Industry and Commerce, Laos; Ms Merly Cruz, Adviser for MSME Department, Philippine Centre for Entrepreneurship
(PCE); Mr Ashok Upadhya , Deputy Secretary General, The Federation of Thai Industries, Thailand; Mr Mochammad
Rizki Safary, Deputy Director, Directorate of ASEAN External Cooperation, Indonesia at the Special Plenary ASEAN
Session.
MULILATERAL INITIATIVES
ASEAN

9. 9
Key Takeaways
Policy Advocacy on Government¾¾
Policy
ASEAN – India FTA•
Domestic policy restructuring•
to support RVC - operations,
labor laws, trade facilitation,
business facilitating services,
infrastructure, etc. and more
initiatives for JVs in the region
to promote RVCs
Policy Advocacy on Trade and¾¾
Investments
Collaboration in Manufacturing•
of products between - India and
ASEAN
Congenial policy environment to•
facilitate FDI –flows
Need for conducive policies to•
promote investments – under PPP
model coupled with technology
knowhow and skills
Create opportunities for new•
investors and Cross – investments
in sectors
Policy Advocacy on Technology¾¾
and Skills
CLMV countries can collaborate•
with India in terms of technical
knowhow
Creation of Knowledge sharing•
platforms in the areas of
innovation, technology and
resources
Enhancing participation of SMEs•
- Beyond financing, continued
support is needed to bridge
information gaps and allow SMEs
to thrive
Organize integrated training•
programmes for operators and
managers to increase performance
efficiency
MULILATERAL INITIATIVES
ASEAN

10. 10
O E C D
T
he Paris-based think tank has
revised its estimate for the
India’s growth in next financial
year (2018-19) to 7.2%. For this period,
the GDP expansion was pegged at 7.7%
in June.
In 2017-18, India’s growth is forecast to
be 6.7% compared to June projection of
7.3%, as per the OECD Interim Economic
Outlook. The report said that in India,
“the transitory effects of demonetization
and of the implementation of the GST
have led to a downward revision in
2017 growth projections, while business
investment has remained weak”.
Indian Economy To Grow 6.7% in 2017-18
as part of efforts to tackle black money
menace—happened in November last
year.
About monetary policy, the report said
there could be room for further cuts
in interest rates in India if inflation
durably remains around or lower than
4%. “Policy rates have recently been cut
in Brazil, India, Indonesia and Russia
in light of falling inflation and the
continued need for monetary stimulus,”
the OECD said.
Click here for more information
“Indian economy is projected to
grow at a lower than expected
rate of 6.7% this fiscal due to the
“transitory effects” of demonetization
and the goods and services tax (GST)
implementation. In the longer run, the
GST is expected to boost investment,
productivity and growth.”
Organization for Economic
Cooperation and Development
The GST came into effect from 1 July
while demonetization—cancellation of
old Rs 500 and Rs1,000 currency notes

11. 11
W E F
T
he Global Competitiveness Index
(GCI) is prepared on the basis
of country-level data covering 12
categories or pillars of competitiveness.
India has been ranked as the 40th most
competitive economy -- slipping one
place from last year's ranking -- on
the World Economic Forum's global
competitiveness index, which is topped
by Switzerland.
On the list of 137 economies, Switzerland
is followed by the US and Singapore in
second and third places, respectively.
In the latest Global Competitiveness
Report released today, India has slipped
from the 39th position to 40th while
neighbouring China is ranked at 27th.
India stabilises this year after its big leap
forwardoftheprevioustwoyears,thereport
said, adding that the score has improved
across most pillars of competitiveness.
These include infrastructure (66th rank),
I
ndia has moved up two spots on
the World Economic Forum’s (WEF)
Human Capital Index 2017. The
country ranks 103rd of 130 countries, up
from 105th the year before. Norway leads
the latest rankings, followed by Finland,
Switzerland, the US and Denmark.
India’s poor performance on the index
places it behind most other emerging
economies such as Brazil (77th),
Indonesia (65th) and other South Asian
countries such as Sri Lanka (70th) and
Nepal (98th). The country ranks even
India is World's 40th
Most Competitive Economy
India Up 2 Spots On WEF Human Capital Index
higher education and training (75) and
technological readiness (107), reflecting
recent public investments in these areas,
it added.
According to the report, India's
performance also improved in ICT
(information and communications
technologies) indicators, particularly
Internet bandwidth per user, mobile
phone and broadband subscriptions,
and Internet access in schools.
Improving ICT infrastructure and use
remain among the biggest challenges
for the region: in the past decade,
technological readiness stagnated the
most in South Asia, WEF said.
Other countries in the top 10 are
the Netherlands (4th
rank), Germany
(5), Hong Kong SAR (6), Sweden (7),
United Kingdom (8), Japan (9) and
Finland (10).
lower than Kenya (78th), Myanmar (89th)
and Ghana (72nd).
The WEF index measures a country’s
performance on four key areas of human
capital development: capacity, which
is a function of past investments in
education; deployment, which measures
the application and accumulation of
skills through work; development, which
takes into account the education of the
next generation of the workforce and
the continued skilling of labour force,
and know-how, which measures the
The Global Competitiveness Index (GCI)
is prepared on the basis of country-level
data covering 12 categories or pillars of
competitiveness.
I n s t i t u t i o n s , i n f r a s t r u c t u r e ,
macroeconomic environment, health
and primary education, higher education
and training, goods market efficiency,
labour market efficiency, financial market
development, technological readiness,
market size, business sophistication and
innovation are the 12 pillars.
Countries preparing for the Fourth
Industrial Revolution and simultaneously
strengthening their political, economic
and social systems will be the winners
in the competitive race of the future,
WEF founder and Executive Chairman
Klaus Schwab said.
Click here for more information
breadth and depth of specialized skills
use at work.
Of the four areas, India scores the
highest in development, followed by
know-how.
The country’s comparatively better
performance on development is large
because of a higher score on secondary
enrollment gender gap and surprisingly
on the quality of the education
system..
Click here for more information

12. 12
to increase communication and dialogue
between communities. A report on
e-commerce development in BRICS,
prepared by UNIDO in collaboration
with the International Trade Centre,
was submitted during the BRICS
Trade Ministers’ meeting. As part of
its e-commerce activities, UNIDO is
also supporting the establishment of an
E-commerce Industry Alliance among
small and medium-sized enterprises from
BRICS and Belt and Road countries.
On the sidelines of the main meeting, the
Director General exchanged views with
the President of the New Development
Bank (BRICS Bank), K.V. Kamath, the
Chairperson of the Export-Import Bank
of China, HU Xiaolian and other senior
official from BRICS countries.
Click here for more information
T
he United Nations Industrial
Development Organization
(UNIDO) Director General LI
Yong reaffirmed support to the BRICS
countries (Brazil, Russia, India, China
and South Africa) to enable their
manufacturing sectors to benefit from
the New Industrial Revolution.
The BRICS Summit and Business
Forum mark the culmination of China’s
chairmanship of the BRICS process in
2017. Throughout the year, UNIDO has
been an active partner of the BRICS in
policy dialogue mechanisms, notably
during the BRICS Industry Ministers’
meeting in Hangzhou and the BRICS
Trade Ministers’ meeting in Shanghai in
July and August respectively. UNIDO’s
valuable support was acknowledged
and welcomed by the action plan and
outcome statement endorsed by the
ministers during the meetings.
UNIDO Support to Promote The New Industrial
Revolution in Brics
UNIDO is supporting research activities
on industry and trade related aspects
within BRICS, as well as organizing
workshops and match making events
U N I D O
“The New Industrial Revolution will
transform traditional manufacturing
as a result of the growth of smart
technologies. UNIDO will therefore
support BRICS collectively as well
as individually, thereby enabling
their manufacturing sectors to benefit
from the New Industrial Revolution.
UNIDO intends to expand existing
bilateral initiatives with individual
BRICS countries to enhance cross-
border trade and investment among
BRICS countries as a group”
LI Yong
Director General
UNIDO

13. 13
B I M ST E C
environment and disaster management,
security and tourism.
Among other points, a joint statement
of BIMSTEC nations after the 15th
Ministerial Meeting on August 11, had
said, We emphasize that enhanced
transport and communication is the
key to regional integration and agree to
expedite comments and observations on
the BIMSTEC Framework Agreement on
Transit, Transshipment and Movement
of Vehicular Traffic (BIMSTEC Motor
Vehicle Agreement), as well as the
BIMSTEC Coastal Shipping Agreement
with a view to negotiate and conclude
these at the earliest.
Click here for more information
T
he Bay of Bengal Initiative
for Multi-Sectoral Technical
and Economic Cooperation
(BIMSTEC) members would focus on
sectoral cooperation to fast track work
in different areas, instead of waiting for
a comprehensive trade agreement.
BIMSTEC is likely to finalise the
motor vehicles and coastal shipping
agreements in the next few months.
Progress has been made in preparing the
framework agreements on motor vehicles,
coastal shipping, trade facilitation,
mutual cooperation on customs matters
and mutual legal assistance on criminal
matters, officials said.
The 14 areas or sectors range from
trade, transport, energy, communication
to agriculture, climate change, tourism,
poverty alleviation, security and
others.
Mr Agarwal said India is taking lead
in four areas which are transport,
BIMSTEC For Prioritising, Fast Tracking Areas
Of Cooperation
“The members are moving towards
sectoral cooperation approach,
priotising and fast tracking areas,
instead for waiting for complete
trade agreement that comprises a
total of 14 areas. Right now, we are
negotiating all the frameworks and
also negotiating on a coastal shipping
framework. It is hoped to be finalised
in the next few months”
Prashant Agrawal
Joint Secretary (BIMSTEC and
SAARC) Ministry of External Affairs

14. 14
First, accountability, efficiency, and
effectiveness need to be improved to
reduce waste and boost the returns on
public spending. Second, the public
sector must be adequately resourced
and ‘right-sized’. Third, because most
core public services are delivered by
lower-tier governments, the compact
between the layers of government will
need to be addressed as this critically
influences how front-line service delivery
agencies perform in their interaction
with citizens..
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T
he World Bank Group (WBG) is
conducting its first Systematic
Country Diagnostic (SCD) for
India. The SCD articulates the Group’s
analysis of the principal challenges India
facing today, as the country seeks to
consolidate its status as a middle-income
economy. In the months to some, the
diagnostic will provide the analytical
base for the WBG’s Country Partnership
Framework (CPF) for India. The CPF
is the roadmap that will determine the
Bank Group's engagement with the
country over the next four years.
To steer this process forward, the WBG
has planned a series of consultations
(Delhi, Mumbai, and Bhubaneswar)
with a broad range of stakeholders.
Consultations provide a platform for the
WBG to tap into the rich experience and
knowledge of stakeholders and listen
to their insights about the challenges
India facing today, as well as how the
WBG can best support the country’s
development agenda.
The discussions will not only center
around India’s long-standing development
goals but also encompass the new
challenges thrown up as the country
forges a 21st century nation. Inputs,
ideas and comments received as part
World Bank Group Country Engagement Dialogue
2017-18
of the consultations will feed into the
WBG’s final CPF for India. They will also
find echoes in the Group’s subsequent
projects, policies and documents.
The SCD suggests that India faces
three principal challenges to its goal of
attaining middle class, middle income
status:
Moving to a more resource-efficient––
growth path
Accelerating inclusion by creating––
good jobs, building human capital
Strengthening the public sector ––
Three elements will thus be vital
for transforming the public sector
WOR L D BA N K

15. 15
WOR L D BA N K
A
s water and dam security has
come into focus, the Indian
Government’s Central Water
Commission (CWC), with assistance
from the World Bank, began the
Dam Rehabilitation and Improvement
Project (DRIP), a six-year, US$350-
million program to rehabilitate
selected dams. The Japan-World Bank
Program for Mainstreaming Disaster
Risk Management in Developing
Countries” and its implementing
arm, the World Bank Tokyo Disaster
Risk Management Hub, administered
by Global Facility for Disaster Reduction
and Recovery (GFDRR), has also played
a central role in improving India’s dam
safety through DRIP.
In response to these challenges, over the
past two years, DRIP has coordinated
with the World Bank’s DRM Hub,
Tokyo the organization of dam safety
study tours for Indian government
officials to Japan to better understand
the work and experiences of the Japan
Water Agency (JWA) and the Ministry
of Land, Infrastructure, Transport, and
Tourism (MLIT). In October 2016, JWA
has conducted a seismic emergency
response drill and developed a Post-
earthquake Inspection Manual for Ichari
Dam in Uttarakhand, India.
The World Bank’s DRIP, in close
partnership with the DRM Hub, Tokyo,
will pursue its stated goal of improving
the safety and performance of existing
dams and strengthening institutional
capacity, especially by using new
technologies. Tokyo DRM Hub will
continue supporting JWA strengthen
Improving The Seismic Resilience of Dams in
India: A Case of Maithon Dam, Jharkhand State
List of recent large earthquakes in the Region
Date Location Magnitude
January 2016 Imphal, Manipur, India 6.7 Mw
October 2015 Afghanistan/Pakistan Border 7.5 Mw
April and May 2015 Nepal 7.6 Mw and 7.3 Mw
JWA has provided several recommendations, mentioned below:
Provide training and guidance on overall dam safety and the DRIP•
programme
Review operation and maintenance method•
Draft updated guidelines and procedures on protection against seismic•
risk
Establish a strong communications system on seismic information•
Perform structural strengthening of dams, including rehabilitation and•
improvement of spillways, regulators, draw-off, and stilling basins
Improve safety instrumentation•
the partnerships with CWC and
local agencies by providing technical
assistance for developing sustainable
earthquake response systems with an
aim to enhance the resilience of dams
across India.
Click here for more information

16. 16
and addressing climate change and
improving climate resilience.
To accelerate India’s economic growth
and good track record in poverty
reduction, ADB said the country needs
to create more high-quality jobs since
half of India’s workforce is based around
agriculture, which is still marked by low
productivity and incomes. Infrastructure
continues to be a major bottleneck, in
which ADB has identified an investment
shortfall of $230 billion a year. Other
critical challenges include how to close
the persistent gap between advanced
and lagging regions where most of the
poor are concentrated, environmental
degradation exacerbated by the impacts
of climate change, and building capacity
within the country’s institutions.
Click here for more information
A
DB said it is planning to
increase its annual loan to
India to a maximum of $4
billion during 2018-22 to accelerate
inclusive economic transformation.
Asian Development Bank currently lends
India $2.65 billion every year.
The Asian Development Bank (ADB)
said it is planning to raise its annual
lending to India from an average $2.65
billion per year at present to $4 billion to
help propel Asia’s third largest economy
towards upper middle-income status.
In 2016, ADB assistance to all its 67
member countries totaled $31.7 billion,
including $14 billion in co-financing.
In a new ADB Country Partnership
Strategy (CPS) for the next five
years (2018-22) and endorsed on
Wednesday, the multilateral lender
said during the period, it will focus
on three pillars of activities: boosting
economic competitiveness to create
more and well-paid jobs; improved
access to infrastructure and services;
ADB Plans to Raise Annual Lending to India to
$4 Billion
“ADB’s new five-year partnership with
India supports the government’s goal
of inclusive and sustainable growth
grounded by economic structural
transformation and job creation, with
an increased focus on low-income
states. We aim to assist transformative
investments, deliver holistic solutions
removing sectoral boundaries, and
demonstrate high value addition of
our assistance in terms of innovation,
timeliness, efficiency, and quality.”
Kenichi Yokoyama,
ADB Country Director India
A D B

17. 17
A D B
The new program, which will be
undertaken over two years, will also
carry forward reforms such as linking
medium term expenditure plans to actual
budgets, supported by strengthening
internal audit system, and enhancements
in the integrated financial management
system (IFMS).
Other activities under the program
include improved tax monitoring and
continued support for information
technology systems in strengthening
tax and land administration.
Capital outlay as a percentage of gross
state domestic product is expected
to rise to 2.2% by FY2022 under the
second program, with improved budget
allocations geared toward development
expenditure.
Accompanying the loan is a technical
assistance grant of $500,000 to
strengthen key institutions responsible
for carrying out fiscal management
reforms in the Indian state.
Click here for more information
T
he Asian Development Bank’s
(ADB) Board of Directors has
approved a loan of $300 million
to continue a comprehensive series of
fiscal reforms in West Bengal to bring
about more accessible, affordable, and
high quality public services.
The first ADB policy-based loan of $400
million in 2012 for the first West Bengal
Development Finance Program aimed
to create the fiscal space necessary to
sustain higher public investment in the
state. It laid the foundations for improved
targeting of scarce public resources to
improve overall efficiency in spending.
The state government achieved full
compliance on all policy actions under
the first program. Its commitment to
fiscal consolidation has been recognized,
with the state government receiving
several awards for e-governance in tax
administration.
Where the first program focused on
augmenting public investment, the
Second West Bengal Development
Finance Program approved will support
private investments more directly by
creating an infrastructure facility to
support project preparation, development,
and appraisal, with emphasis on public-
private partnerships in health and
education. It also seeks to simplify the
registration and licensing procedure
for micro, small, and medium-sized
enterprises.
$300 Million Loan To Promote Further Fiscal
Reforms In West Bengal
“We entered into a successful
partnership through a first program in
2012 with the West Bengal government
to bring about fiscal reforms that
could put the state’s finances on a
balanced and sustainable path, but
we recognized then that the full
effect of reforms would take at least
5 years to materialize and a follow-on
program would be needed to carry
these forward.”
Navendu Karan
ADB Senior Public Management
Economist

18. 18
A D B
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As per the loan agreement, about 95 per
cent of the ADB funding will go towards
credit for women borrowers. At least 70
per cent of the number of loans will be
deployed to less developed states, the
bank said.
“A capacity building technical assistance
of $1 million is expected to be part of
the package. It will support IndusInd
Bank’s efforts to improve financial
literacy to women borrowers and to
develop digitised processing and product
development initiatives,” the bank
said.
Click here for more information
I
ndusInd Bank has secured up to
$200 million (about Rs. 1,282 crore)
loan from Asian Development Bank
(ADB) to serve low-income women
borrowers in rural areas.
The seven-year senior loan will go
towards IndusInd Bank’s micro-finance
activities, the private players said in a
statement.
The loan pact was inked here by Director
of ADB’s Private Sector Operations
Department, Christine Engstrom,
IndusInd Bank chief financial officer
S Zaregaonkar, and Head of IndusInd
Bank’s Global Markets Group, Arun
Khurana.
This will help the bank to expand its
efforts to finance underserved people
of the country in less developed states,
she said.
Indusind Bank Secures $200 Mn Loan from ADB
for Microlending
“ADB’s financing and technical
assistance is a signal of its continued
commitment to increase financial
inclusion in India, particularly for low
income women and their families.”
Christine Engstrom
Director
ADB’s Private Sector Operations
Department