Current Affairs search results for tag: international-relations

1. India-Japan hold finance dialogue in New Delhi

Tags: International Relations

India and Japan held a Finance Dialogue on 16 June 2022 in New Delhi to exchange views on the macroeconomic situation, financial system, financial digitization and investment environment in both the countries.

• Japan's Finance Minister for International Affairs Masato Kanda and Ajay Seth, Secretary, Department of Economic Affairs, Ministry of Finance, held the first India-Japan Finance Dialogue.

• The Japanese delegation included representatives from the Ministry of Finance, the Financial Services Agency and financial institutions.

• On the Indian side, representatives from the Ministry of Finance, Reserve Bank of India, Insurance Regulatory and Development Authority of India, Securities and Exchange Board of India and financial institutions participated in the discussion.

• Participants confirmed that the two sides will continue to work closely together as they preside over the G20 and G7 next year.

• The two sides agreed to continue discussions to promote financial cooperation and strengthen bilateral ties, and agreed to agree on the possibility of holding the next round of talks in Tokyo.

• Importance of Japan for India 

• Japan is the fifth largest source of Foreign Direct Investment (FDI) in India after Singapore, USA, Mauritius, Netherlands (April 2014 to August 2021). 

• It has invested $36.2 billion in India since 2000.

• Japan is the largest provider of assistance to India amongst all countries.

• There are 1,455 Japanese companies in India. Eleven Japan Industrial Townships (JIT) have been established, with Neemrana in Rajasthan and Sri City in Andhra Pradesh having the maximum number of companies.

• Japan is helping in setting up a High Speed Rail corridor between Mumbai and Ahmedabad.

• Important fact about Japan 

• Japan is also called as Nihon or Nippon

• It is an archipelago in the western pacific ocean in East Asia.

• It is composed of four main islands Hokkaido, Honshu, Shikoku, and Kyushu. Honshu is the largest island of Japan.

• It is separated from the Asian mainland by the Sea of Japan.

• Its highest mountain is Mount Fuji.

• It is the third largest economy in the world after the United States and China.

• It is the only country in the world where atom bomb was dropped. In 1945 the U.S. dropped atomic bomb on Hiroshima on 6 August (bomb name Little Boy) and Nagasaki on 9 August (Bomb name Fat Man).

• The capital of Japan : Tokyo 

• Currency of Japan : Yen

For more information please visit 21 march 2022 news

2. 38th India-Indonesia Coordinated Patrol in Andaman Sea and Straits of Malacca

Tags: International Relations International News

The 38th India-Indonesia Coordinated Patrol (IND-INDO CORPAT) is being conducted from June 13 to 24 2022 in the Andaman Sea and Straits of Malacca. 

• About India-Indonesia Coordinated Patrol

• It is the first post pandemic Coordinated Patrol (CORPAT) between the two countries.

• The navies of both the countries have been operating CORPAT along their International Maritime Boundary Line (IMBL) since 2002.

• This has helped in building understanding and interoperability between the two navies.

• It has facilitated measures to prevent and suppress illegal fishing, drug trafficking, maritime terrorism, armed robbery and piracy etc.

• India and Indonesia have enjoyed particularly close ties, which include a broad spectrum of activities and interactions that have strengthened over the years.

• This CORPAT contributes to the strong ties between the two countries in the Andaman Sea and the Straits of Malacca.

• Aim of India-Indonesia Coordinated Patrol

• Keeping the Indian Ocean Region safe for commercial shipping, international trade and conduct of legitimate maritime activities.

• Other Exercises between India and Indonesia

• Garuda Shakti - A joint military exercise

• Samudra Shakti - A bilateral maritime exercise

3. India, Vietnam sign joint vision statement on defence partnership for 2030

Tags: International Relations

India and Vietnam signed a 'Vision' document to further widen the "scope" of defence ties by 2030 and a 'Logistic Support' agreement to allow the armies of the two countries to use each other's installations.

Defence minister Rajnath Singh is on a three-day visit to the south-east Asian country.

• The MoU on mutual logistics support was inked by both sides.

• The two countries also agreed to expeditiously finalise India's defence line of credit of $500 million to Vietnam.

• Implementation of the projects through the LoC will significantly enhance Vietnam's defence capabilities and help in taking forward Prime Minister Narendra Modi's vision of 'Make in India, Make for the world'.

• India also announced two 'simulators' and funding to set up a language and IT laboratory at the Air Force Officers Training School to improve the capabilities of the Vietnamese Armed Forces.

• India, Vietnam relation 

• Vietnam is an important member of ASEAN (Organisation of Southeast Asian Nations) and has territorial disputes with China in the South China Sea region.

• India is undertaking oil exploration projects in Vietnamese waters in the South China Sea.

• India and Vietnam have been working together to enhance their maritime security cooperation over the years to protect common interests.

• Vietnam has become an important partner in India's 'Act East Policy' and 'Indo-Pacific Vision'.

• The two countries share a rich history of civilizational and cultural ties dating back more than 2,000 years.

• The relations between the two countries were accorded the status of "strategic partnership" during the visit of the then Prime Minister of Vietnam Nguyen Tan Dung to India in July 2007.

• During Prime Minister Narendra Modi's visit to Vietnam in 2016, this status was raised to a "Comprehensive Strategic Partnership".

4. India-Senegal sign three MoUs

Tags: International Relations

India and Senegal signed three MoUs for cultural exchange, cooperation in youth affairs and visa-free arrangement for officials.

• This is the first ever high level Indian visit to Senegal.

• The visit comes at a time when both the countries are celebrating 60 years of their diplomatic ties.

• The Vice President of India, M. Venkaiah Naidu, who is on a three-nation tour, arrived in Senegal (West Africa) on June 2.

• Three MoUs were signed by both sides 

1. Visa-free arrangement for holders of diplomatic and official passports which will strengthen cooperation between the two countries through seamless travel of officials/diplomats.

2. Renewal of Cultural Exchange Progarmme (CEP) for the period 2022-26.

3. To enhance bilateral cooperation in youth matters.

• India-Senegal Bilateral Relations

• Diplomatic relations between the two countries were established in 1962 at the ambassadorial level in Dakar.

• Despite the COVID-19 pandemic, India-Senegal trade grew by 37% to US$1.5 billion during the last one year.

• A significant amount of phosphate, an important component of fertilizers, is imported into India from Senegal.

• Senegal is a member of the International Solar Alliance (IAS).

• Phase II of the upgrade of the Center for Entrepreneurship Training and Development (CEDT) in Dakar has been approved and its implementation will begin soon.

• Senegal has supported India for permanent UNSC membership.

• About Senegal

• Senegal is a country in western Africa

• It is known as the “Gateway to Africa

• Head Of State And Government - President, Macky Sall

• Capital - Dakar

• Official Language - French

• Literacy - Male (2017) 64.8%, Female (2017) 39.8%

5. India and Sweden Host Industry Transition Dialogue In Stockholm

Tags: International Relations International News

India and Sweden hosted the Industry Transition Dialogue on 2 June in Stockholm as a part of their joint initiative, Leadership for Industry Transition (LeadIT).

• The LeadIT initiative focuses on areas that are major stakeholders in global climate action and require specific interventions.

• This high level dialogue has made a significant contribution to the United Nations Conference 'Stockholm+50'.

• Stockholm +50 is a World Environment Assembly held on 2 and 3 June to commemorate the first United Nations Conference on the Human Environment in 1972.

• It sets the agenda for COP27.

• Japan and South Africa are the latest members of the initiative.

• At present, the total number of LeadIT members is 37, including countries and companies.

• Union Minister of Environment, Forest and Climate Change Bhupender Yadav addressed the event. 

• He said it is a time to celebrate 50 years of collaborative action, as well as a time to introspect on what we have achieved so far and what remains to be achieved.

• During the event, India chaired the Round Table Talks on priorities for implementation for 2022-23.

• Countries and companies share their initiatives, success stories and plans for the future.

• About Sweden

• Capital - Stockholm

• National Day - 6 June

• Parliament - Called ‘riksdag’ 

• Members of parliament  - 349 in a single chamber

• Head of state - King Carl XVI Gustaf; heir to the throne is Crown Princess Victoria

• Total area - 528,447 sq km (fifth largest country in Europe)

• Highest mountain - Kebnekaise (2,099 m)

• Biggest lake - Vänern (5,650 sq km)

• Currency  -  Swedish krona

6. India, China reviews situation along LAC during 24th WMCC meeting

Tags: International Relations Defence

The 24th meeting of the Working Mechanism for Consultation and Coordination on India-China Border Affairs (WMCC) was held on 31 May.

• The Indian delegation was led by the Additional Secretary, (East Asia), Ministry of External Affairs and the Chinese delegation was led by the Director General, Department of Borders and Oceans, Ministry of External Affairs.

• Both sides reviewed the situation along the Line of Actual Control (LAC) in the Western Sector of Indo-China border areas.

• Since the last meeting of the WMCC in November 2021, both sides have held the 14th and 15th meeting of Senior Commanders in January and March 2022 respectively.

• Both sides exchanged views on the current situation along the LAC in Eastern Ladakh.

• They agreed to continue discussions through diplomatic and military channels to resolve the remaining issues along the LAC. 

• They agreed to hold the 16th Round of Senior Commanders' Meeting to achieve the objective of complete elimination of all friction points along the LAC in the Western Sector.

• About WMCC

• It was established in 2012 as an institutional mechanism for consultation and coordination for the management of India-China border areas.

• The aim was to exchange views on strengthening communication and cooperation between border security personnel from both sides.

• It is headed by joint secretary-level officials from both the countries.

• The mechanism was first suggested by Wen Jiabao in 2010.

7. India-Pakistan 118th bilateral meeting on Indus Water Treaty

Tags: International Relations

A five-member delegation from Pakistan reached India via the Wagah border to attend the 118th bilateral meeting on the Indus Waters Treaty, in New Delhi on May 30.

• India is building 10 hydroelectric plant projects to reduce excess water in Pakistan.

• Both the countries will discuss the issue of advance flood information and the annual report of the Permanent Commission for Indus Waters (PCIW).

• The 1,000 MW Pakal Dul, 48 MW lower Kalnai and 624 MW Kiru hydroelectric projects on west-flowing rivers being built by India under the Indus Water Treaty will also be discussed during the meeting.

• What is the Indus Water Treaty?

• It is a water-sharing treaty between India and Pakistan.

• It was signed by Indian Prime Minister Jawaharlal Nehru and Pakistani President Ayub Khan in 1960.

• As per the treaty all the waters of three rivers- Ravi,Sutlej and Beas ( Eastern Rivers) were allocated to India for exclusive use.

• Whereas, the waters of the western rivers – Indus, Jhelum and Chenab – were allocated to Pakistan except for specified domestic, non-consumable and agricultural uses allowed for India.

• India has been given the right to generate hydroelectricity through Run of the River (ROR) projects on the western rivers.

• About Indus River System

• The Indus River System is one of the largest river basins in the world.

• It includes five rivers namely Indus River, Jhelum, Chenab, Ravi, Beas and Sutlej.

• The basin is mainly shared by India and Pakistan, with China and Afghanistan sharing a small portion of it.

• Indus River

• It flows in a north-west direction from its source (Glaciers of Kailash Range – in Tibet near Lake Manasarovar) till the Nanga Parbat Range.

• length - about 2,900 km.

• Jhelum River

• Originates -  in spring at Verinag in the south-eastern part of the Kashmir Valley.

• Chenab River

• Originates - from near the BaraLacha Pass in the Lahaul-Spiti part of the Zaskar Range

• Ravi River

• Origin - in Kullu hills near the Rohtang Pass in Himachal Pradesh.

• Beas River

• Originates - near Rohtang Pass, at a height of 4,062 m above sea level, on the southern end of the Pir Panjal Range

• Satluj River

• Originates - from the Manasarovar-Rakas Lakes in western Tibet.

8. Indian Navy – Bangladesh Navy Bilateral EX Bongosagar Commences

Tags: International Relations Defence

The third edition of the Indian Navy (IN) - Bangladesh Navy (BN) bilateral exercise 'Bongosagar' began on 24 May 22 at Port Mongla, Bangladesh.

• The harbor phase of the exercise is scheduled from 24-25 May followed by a sea phase in the North Bay of Bengal from 26-27 May.

• Indian Navy ships Kora, an indigenously built Guided Missile Corvette and Sumedha, an indigenously built offshore patrol vessel, are participating in the exercise.

• The Bangladesh Navy is represented by BNS Abu Ubaidah and Ali Haider, both guided missile frigates.

• The harbour phase of the exercise

• This includes professional and social interactions and friendly sportings, besides strategic level planning discussions on the conduct of exercises at sea.

• The sea phase of the exercise

• It would facilitate ships from both the navies to participate in intensive surface warfare drills, weapon firing drills, seamanship evolutions and coordinated air operations in a tactical scenario.

• About Bongosagar bilateral exercise

• Its first edition was held in 2019.

• Its aim is to develop interoperability and joint operational skills through the conduct of a wide spectrum of maritime exercises and operations.

9. The fourth edition of the Jointly Coordinated Patrol (CORPAT) between the navies of India and Bangladesh

Tags: International Relations International News

The fourth edition of the Jointly Coordinated Patrol (CORPAT) between the navies of India and Bangladesh was conducted in the North Bay of Bengal from 22-23 May.

• The previous CORPAT between the two countries was held in October 2020.

• In this exercise, indigenous warships INS Kora and INS Sumedha of the Indian Navy along with Bangladesh Navy warships BNS Ali Haider and BNS Abu Ubaidah and maritime patrol aircraft of both the navies participated in joint patrolling.

• Maritime patrol aircraft of both the navies also carried out joint patrols along the International Maritime Boundary Line (IMBL) during the CORPAT.

• About Bangladesh 

• Capital- Dhaka

• President- Abdul Hameed

• Prime Minister- Sheikh Hasina

• Currency - taka

• Bangladesh observes 26 March as its Independence Day every year.

10. India and US sign Investment Incentive Agreement in Tokyo

Tags: International Relations International News

Prime Minister Narendra Modi and US President Joe Biden on May 24 signed an Investment Incentive Agreement in Tokyo.

• It is expected that the signing of this agreement will increase the investment support provided by the Development Finance Corporation in India which will help in the development of the country.

• Various proposals worth $4 billion are being considered by the corporation to provide investment support in India.

• The corporation has provided investment support in areas such as COVID-19 vaccine manufacturing, health care financing, renewable energy, financial inclusion and infrastructure.

• The corporation or its predecessor agencies have been active in India since 1974 and have provided investment assistance of $5.8 billion to till date.

• This incentive agreement will replace the earlier agreement signed between India and the US in 1997.

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