INDIA & WORLD
10th India-European Union Counter Terrorism Dialogue
India and the European Union have agreed to strengthen cooperation between their security and intelligence agencies to combat the threat of terrorism and check terror financing. During the 10th India-European Union Counter Terrorism Dialogue in New Delhi, the two sides deliberated extensively on combating terror financing and challenges posed by radicalization.
Joint Proposal by India & China in WTO
India and China have jointly submitted a proposal to the World Trade Organisation (WTO) calling for the elimination of the most trade-distorting form of farm subsidies, known as Aggregate Measurement of Support (AMS) as a prerequisite for consideration of other reforms in domestic support negotiations. The proposal is significant in view of the ongoing negotiatiobs for the upcoming 11th Ministerial Conference of the WTO, which is scheduled to be held in Buenos Aires in December 2017. It counters the efforts of some countries to target the subsidies of the developing countries while letting the developed countries retain their huge farm subsidies.
India, China agree to end Doklam standoff
The Ministry of External Affairs (MEA) issued a press statement declaring that India and China have agreed to an ‘expeditious disengagement of border personnel at faceoff site in Doklam’ along the China-Bhutan border. The foreign ministry of China, however, maintains that while India was withdrawing its troops, they will continue to patrol in the Doklam Plateau.
Govt restricts gold, silver imports from South Korea
The government has restricted imports of gold and silver items from South Korea in a bid to check spurt in inbound shipments of precious metals from that country. The importers will now have to obtain a license from the Directorate General of Foreign Trade (DGFT) for importing gold and silver from South Korea. These restrictions are being imposed against the backdrop of sudden surge in imports of precious metal from South Korea, with which India has a free trade agreement since January 2010.
Indian Navy Band Participates in International Military Music Festival
The International Military Music Festival “Spasskaya Tower” is the parade of the best military music bands of Russia and other countries that takes place every year at Red Square in Moscow. This time Indian Navy Band is participating in the festival. Every year about 1500 musicians, military men and other artists from around 40 countries perform at the “Spasskaya Tower”. The Festival is duly considered one of the largest international events in Russia and attracts tremendous response of the general public.
ISA extends India’s exclusive rights to explore Polymetallic Nodules
The International Seabed Authority (ISA) in its 23rd session recently held at Kingston, Jamaica has extended India’s exclusive rights to explore polymetallic nodules from seabed in Central Indian Ocean Basin (CIOB). These rights extend over 75000 sq. km of area in international waters allocated by ISA for developmental activities for polymetallic nodules. The estimated polymetallic nodule resource potential of this area is around 380 million tonnes, containing nickel (4.7 million tonnes), copper (4.29 million tonnes), cobalt (0.55 million tonnes) and manganese (92.59 million tonnes).
India, US Establish TWO-BY-TWO Ministerial Dialogue
India and US have established new two-by-two (2 by 2) ministerial dialogue to enhance strategic coordination between them and maintaining peace and stability in the Indo-Pacific region. The new dialogue format will replace the earlier India-US Strategic and Commercial Dialogue. It will be similar to the India-Japan 2+2 dialogue format between foreign and defence secretaries of the two countries.
India Ratifies 2nd Commitment Period of Kyoto Protocol
India has ratified the second commitment period of the Kyoto Protocol that commits countries to contain the emission of greenhouse gases, reaffirming its stand on climate action. With this, India became the 80th country to accept the amendment relating to the second commitment period of the Kyoto Protocol, the international emissions reduction treaty. The Kyoto Protocol is an international agreement linked to the United Nations Framework Convention on Climate Change (UNFCCC), which commits its Parties by setting internationally binding emission reduction targets.
India ranks 43rd in 2017 Global Retirement Index
India ranked 43rd position in 2017 Global Retirement Index (GRI). It is published by French asset management company Natixis Global. The 43 countries include members of the Organization for Economic Co-operation and Development (OECD), International Monetary Fund (IMF) advanced economies and the BRIC countries. The top three countries in 2017 GRI are Norway, Switzerland, and Iceland.
Sri Lanka Commissions an Offshore Patrol Vessel built in India
Sri Lankan Navy has commissioned an India-built state-of-the-art Advanced Offshore Patrol Vessel (AOPV), the first-ever purchase from a foreign ship builder, to boost its search and rescue capabilities. Sri Lankan President and Armed Forces commander-in-chief Maithripala Sirisena commissioned the new patrol vessel “SLNS Sayurala”. It is the largest vessel built by an Indian ship builder for a foreign navy to date. Built at the Goa Shipyard Ltd (GSL) in India, SLNS Sayurala is the first-ever brand new platform purchased from a foreign ship builder. The 105.7 metre-long and 13.6 meter-wide vessel can also be used for external fire-fighting missions.
India, AIIB sign 329 mln USD loan for Gujarat Road Project
India signed a loan agreement with Asian Infrastructure Investment Bank (AIIB) for providing loan of 329 million U.S. dollars to improve rural road connectivity in western state of Gujarat. The objective of the project is to improve the rural road connectivity and accessibility to 1,060 villages in all the 33 districts in Gujarat state benefiting about 8 million people. The project will also benefit the service providers such as public transport operators, educational institutions, hospitals, local markets and traders.
USISPF set up to deepen Indo-US ties
A new representative body US- India Strategic Partnership Forum (USISPF) is being set up to enhance business relations between India and US. The body will work with businesses and government leaders to achieve its goals of driving economic growth, job creation, innovation, inclusion and entrepreneurship. Mukesh Aghi will serve as a USISPF President while GauravVerma will serve as Chief Operating officer. USISPF’s board of directors will include Chairman John Chambers (Executive Chairman, Cisco), Vice-Chairs Punit Renjen (Global CEO, Deloitte LLP) and Edward Monser (President, Emerson Electric), and board members Indra Nooyi (Chairman and CEO, PepsiCo), and Ajay Banga (President and CEO, MasterCard).
India can go ahead with Kishanganga, Ratle projects under IWT
World Bank allowed India to construct hydroelectric power facilities on tributaries of the Jhelum and Chenab rivers with certain restrictions under the 1960 Indus Waters Treaty (IWT). Pakistan opposes the construction of the Kishanganga (330 megawatts) and Ratle (850 megawatts) hydroelectric power plants being built by India in Jammu and Kashmir. The IWT was signed in 1960 after nine years of negotiations between India and Pakistan with the help of the World Bank, which is also a signatory.
India & Somalia sign agreement on transfer of sentenced persons
India and Somalia signed a bilateral agreement for the transfer of sentenced persons. The move is step forward in deepening humanitarian cooperation between the two nations. Signing the agreement with Somalia will facilitate the Indian prisoners imprisoned in Somalia or vice-versa to be near to their families, for serving remaining part of their sentence. The step will also facilitate their social rehabilitation. The agreement was signed between External Affairs Minister Sushma Swaraj and Foreign Minister of the Federal Republic of Somalia Yusuf Garaad Omar.
India-Bhutan trade & transit pact come into force
The new bilateral Agreement on Trade, Commerce and Transit between India and Bhutan came into force. It aims to strengthen the bilateral relations between India and Bhutan. The Agreement provides for a free trade regime between the territories of India and Bhutan. It also provides for a duty-free transit of Bhutanese merchandise for trade with third countries.
Read more: Current Affairs August 2017 Study Material | FreeJobAlert.com http://currentaffairs.freejobalert.com/august-2017-current-affairs-study-material/24597/#ixzz5U77rdw5K
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