Current Affairs – February, 2019

Latest Current Affairs February, 2019 with Current Affairs, news summary on current events of National and International importance of February, 2019 for Banking, SSC, CLAT, UPSC, State PCS, IBPS, Railways and other Competitive Examinations.

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Global Business Summit 2019

Global Business Summit 2019 was held in New Delhi. It was the fifth edition of the three-day Summit and was inaugurated on 22nd February 2019.

The Keynote address was delivered by Prime Minister Narendra Modi and the other speakers in the event included Union Ministers Arun Jaitley, Piyush Goyal Suresh Prabhu, Ravi Shankar Prasad, Founder & Chairman of Vedanta Resources Anil Agarwal, Chief Marketing Officer of Alibaba Group Chris Tung, Global CEO of Virgin Hyperloop One Jay Walder, Chairman of Bain Insights Group James Root, among others.

The Global Business Summit 2019 was aimed at unfolding the myriad contours of the world economy and defining the factors that will lead the Indian economy to newer heights by way of a carefully crafted plenary session and numerous parallel sessions & round table discussions that form part of the GBS experience.

Global Business Summit

The Global Business Summit launched on January 15, 2015, is a flagship initiative of the Times Group. The Summit envisions to bring together visionaries, thought leaders, heads of state, policy makers, academicians and corporate heads cohesively driving a singular agenda for Scripting Economic Change, by connecting the building blocks of Economics for India and the Globe.

The Global Business Summit aims to provide solutions to key macroeconomic challenges being faced in the current context and put forth a blueprint for sustainable, inclusive economic growth and serve as a platform for government to government interactions, business to government meetings, business to business engagements and helps corporates and governments secure investments by showcasing opportunities to apt audiences. The ambition of the Times Group is to establish the Global Business Summit as the Davos of the East

Afghanistan Launches New Export Route to India through Chabahar Port

Afghanistan has launched a new export route to India through the through the Chabahar Port of Iran. 23 trucks carrying 57 tonnes of dried fruits, textiles, carpets and mineral products were dispatched from western Afghan city of Zaranj to Iran’s Chabahar port. The consignment would be then shipped to Mumbai.

Chabahar port is seen as a testimony of healthy cooperation between India, Iran and Afghanistan this will ensure economic growth. The Chabahar Port of Iran provides easy access to the sea for Afghanistan. India has invested in the development of this route as well as Chabahar port. This route allows both India and Afghanistan to engage in trade bypassing Pakistan.

India-Afghanistan Trade

Afghan exports to India stood at $740 million in 2018 and India is the largest export destination for Afghanistan. The new route is one of the many initiatives undertaken by the governments of India and Afghanistan to enhance trade relations.

To boost the trade relations, both India and Afghanistan had established an air corridor in the year 2017. The opening of new avenues for Afghanistan to trade with India will aid Afghanistan in to reduce its trade deficit.

After the withdrawal from JCPOA and reimposing of sanctions on Iran, US had granted an exception for the development of Chabahar port since the new transportation corridor could contribute significantly for Afghanistan’s economy and meet their needs of non-sanctionable goods such as food and medicines.

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