India Digest

Rupee gets
a symbol

India finally got a symbol for the Rupee on July 15, denoting the strength of its economy, and

joined a elite club of countries whose currencies have a unique identity.
    The Indian Cabinet approved the symbol — an amalgamation of the Devnagiri ‘Ra’ and the Roman capital ‘R’ without the stem and two parallel lines running at the top. The parallel lines symbolise the ‘equal to’ sign.
    In his Budget speech, Finance Minister Pranab Mukherjee had said that the new rupee symbol will appropriately reflect and capture the Indian ethos and culture, and according to officials at the Finance Ministry the final choice had Mukherjee’s approval.
    The Indian rupee now joins the club of the U.S. dollar, the British pound, the European euro and the Japanese yen that have their own symbols. The symbol had become necessary because of the Indian economy’s rapid growth, which has propelled it to become one of the largest economies of the world.
    “The symbol for India’s Rupee

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‘India for a prosperous Pakistan’

India desires “a peaceful, stable and prosperous Pakistan”, External Affairs Minister S.M. Krishna said on July 15. Addressing a press conference he addressed jointly with his Pakistani counterpart Shah Mahmood Qureshi, Minister Krishna added: “We wish the people of Pakistan well.”

Statement of the Joint Press Conference:

External Affairs Minister S. M. Krishna: “I had the honour of calling on the President of Pakistan and also the Prime Minister of this country.
Let me start by thanking Foreign Minister Qureshi for the remarks he made. The sentiments that he has expressed about good neighbourly relationship between our two countries have been what we have been striving for, the last so many years. At times, we have succeeded, at times we have not been able to make the kind of progress that we expected or we thought we would. Foreign Minister Qureshi and I along with our delegations have had cordial and useful exchange of views on all issues concerning our relationship. We reviewed the current state of bilateral relations and discussed steps to promote trust and confidence in keeping with

the mandate given to both of us by the respective Prime Ministers of India and Pakistan during their meeting in Thimphu. This was to pave the way for a serious, comprehensive and sustained dialogue thereon, on issues of mutual interest and concern.
I think our talks have enabled us to develop better understanding. We are starting on this journey cognisant of the complexities in our relationship,

thechallenges that lie ahead and the promise that a good neighbourly relationship holds for our people. India is committed to being a sincere partner in our efforts to establish peaceful and cooperative relations between our two countries. I would also like to reiterate that India desires a peaceful stable and prosperous Pakistan. We wish the people of Pakistan well. Our Prime Minister has the ambition of prosperity in South Asia in which all countries of the region grow together in a cooperative mode.
I have conveyed to Foreign Minister Qureshi that effective action against terrorism directed against India and all-out efforts by Pakistan to fulfil the commitment given by Prime Minister of Pakistan to Prime Minister Dr. Manmohan Singh in Thimphu, and not allowing the territory of Pakistan to be used for terrorism against India would go a long way in building trust and confidence. I am indeed pleased that Foreign Minister Qureshi has assured me that Pakistan will do everything in its power to fulfil this commitment. In this context Foreign Minister Qureshi has also assured me that the investigation in the Mumbai terrorist attack case, taking into account the additional information coming out the recent interrogation of David Coleman Headley and provided

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India, UK to deepen judicial collaboration: Moily

The Government of India would take measures to reform the country’s legal system and, in turn, help make the country the most preferred destination for investors, said India’s Minister for Law, Justice and Company Affairs, M. Veerappa Moily, at a press conference in London on July 9.
Moily was on a three-day visit to the United Kingdom at the invitation of the British Secretary of State for Justice, Kenneth Clarke, with whom he had a wide-ranging discussions on “enhancing collaboration between the judicial and legal systems of the two countries by sharing mutual experiences”.
His statement to the press at India House:
“I have had a number of useful meetings during my stay in London, including my meeting with the Secretary of State on July 7. It was very warm, cordial and fruitful. The Secretary of State reiterated the resolve

of their government to develop a special relationship with India, as stated in Her Majesty the Queen’s speech in the Parliament. The U.K. government would like to build closer relationships with India in all spheres, including the judicial system. Kenneth Clark told me about the high regard he has for our Prime Minister Dr. Manmohan Singh and how much he admires the transformation that has taken place in India. He also acknowledged India’s “powerful regard for the rule of law” and spoke of the challenges the Indian judicial system faces.
I have had meetings with the Lord Chief Justice and the Attorney General. I also met the Chairman of the Legal Services Board, David Edmonds and Chair of the Judicial Appointments Committee, Baroness Usha Prashar. Besides, I had Round Table discussions with the Bar Council of U.K., Law


Society of U.K., Society of Asian Lawyers and the London Court of International Arbitration, which were constructive and purposeful. I also interacted with several U.K. law firms and the UK India Business Council. I also visited the Supreme Court of U.K. to witness the proceedings and attended a reception at the House of Commons.	The objective of these discussions were to enhance collaboration between the judicial and legal systems of the two countries by sharing mutual experiences. My interactions with the U.K. authorities have helped me understand the functioning of the judicial system in Britain. As you all know, India has Continued on Page 2

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