Current Affairs Agreements

 India and Chile signed three MoUs in the fields of mining, culture and empowerment of persons with disabilities. Chile announces it will allow visa-free entry to Indians holding valid US Visa. President Ram Nath Kovid participated in India-Chile Business Forum and interacted with young scientists at the University of Chile. President Ram Nath Kovind has concluded the his visit to Chile, the last leg of her three nation visit to Bolivia, Croatia and Chile. The two countries also agreed to explore opportunities for other cooperation in the defence sector.
Source- Press Information Bureau (PIB)

  Tata Power and Indraprastha Gas Limited (IGL) signed a memorandum of understanding to set up integrated customer services and optimize value for customers. The pact will also cover common safeguard activities of underground assets (pipes and cables) including the right of way for activities like maintenance and laying of pipes and cables, routine patrolling of under and above ground assets.
Source: Business Standard

  President Ram Nath Kovind has been conferred with the highest State honor of Bolivia, “Condor de Los Andes en el Grado de Gran Collar” during his visit to Bolivia. President of Bolivia Evo Morales awarded him the Honour at a function held in Santa Cruz. On the second day of President’s three-day visit to Bolivia, India and Bolivia signed eight MoUs in the fields of culture, Visa waiver arrangement for diplomats, exchange between diplomatic academies, mining, space, traditional medicine, establishment of Centre of Excellence in IT and Bi-Oceanic Railway project. India offered a 100 million US Dollar Line of Credit to Bolivia for financing development projects. Both countries also agreed on the need for reform of the UN Security Council to make it reflective of contemporary realities. President is in Bolivia on the 2nd leg of his 3 nation tour. He is on a three-nation visit to Croatia, Bolivia, and Chile.
Source- Press Information Bureau (PIB)

  Wipro Limited (Bengaluru Based), a leading global information technology, consulting and business process services company and Indian Institute of Technology Kharagpur (IIT Kharagpur), signed an MoU to collaborate on high-impact, industry-focused applied research in the areas of 5G and AI. Research outcomes from this partnership will be leveraged by Wipro to develop solutions for its customers, across industry verticals. IIT Kharagpur will benefit from the commercialization of the joint research insights and Wipro’s real-world industry expertise.
Source- WIPRO

  An agreement has been signed between India and the African Union to establish an India-Africa health sciences collaborative platform. The MoU will pave the way for cooperation in research and development, capacity building, health services, pharmaceutical trade and manufacturing capabilities for drugs and diagnostics. To carry forward the vision of a structured and concrete partnership in the health sector, the MEA partnered with Indian Council of Medical Research and had jointly organised the first India-Africa Health Sciences Meet in 2016 in New Delhi.
Source- DD NEws

 India and the US signed an agreement for exchange of country-by-country (CbC)report. The move will give huge relief to subsidiaries of US-headquartered companies in the taxation-related matter. The agreement was signed by PC Mody, Chairman, Central Board of Direct Taxes (CBDT), and Kenneth I Juster, US Ambassador to India. The agreement for the exchange of CbC reports, along with the Bilateral Competent Authority Arrangement between the two competent authorities, will enable the two countries to automatically exchange the reports filed by the ultimate parent entities of the multinational enterprises in the respective jurisdictions pertaining to the years commencing on or after January 1, 2016.
Source- The Hindu Business Line

  Infosys, a global leader in next-generation digital services and consulting, and Roland-Garros Grand Slam tennis tournament, also called the French Open, announced a three-year strategic technology partnership. The partnership aims to re-imagine the tennis experience for the fans and the players globally.
Source: Business Standards

 The Union Cabinet chaired by Prime Minister Narendra Modi has given the following set of approvals.  The important Cabinet Approvals are given as follows:
The Cabinet:
  • Apprised about MoU for cooperation on youth matters between India and Morocco. 
  • Apprised about MoU on Antarctic cooperation between India and Argentine.
  • Apprised about MoU between India and Morocco to promote exchange of information and technical cooperation in the field of Housing and Human Settlement.
  • Apprised about MoU between India and Saudi Arabia for cooperation in the field of Housing.
  • Approves MoU between India and Republic of Korea on Startup Cooperation.
  • Approves MoU between India and Indonesia on combating illicit trafficking in narcotic drugs, psychotropic substances and its precursors.
  • Approves acquiring land of Central Water Commission at Nallagandla, Hyderabad by Telangana State Government for road widening.
  • Approves creation of additional posts of three Judicial Members and three Technical Members in the National Company Law Appellate Tribunal.

  •   Oman has signed an agreement with the United States of America that allow American ships and warplanes to take advantage of his ports and airports. The framework agreement is aimed at bolstering Omani-American military relations. The agreement will allow the US forces to take advantage of the facilities offered at some of the Sultanate’s ports and airports during visits of the US military vessels and aircraft. The US-Omani deal was signed by the defence ministries of both countries.
    Source- Press Information Bureau (PIB)

      Asian Development Bank (ADB) has inked an agreement to invest USD 50 million in solar energy project developer Avaada Energy Pvt Ltd to help the company scale up rapidly. The investment will come equally from ADB’s Ordinary Capital Resources and Leading Asia’s Private Infrastructure Fund (LEAP). LEAP is a funding arrangement provided by Japan International Cooperation Agency (JICA) which is administered by ADB.
    Source- The Economic Times

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