In this regard both the entities have formed a manufacturing Joint Venture (JV) and this move is considered to deepen India-Israel strategic cooperation. The manufacturing JV will be as per the Foreign Direct Investment (FDI) guidelines which means that the 51% ownership stake in JV will hold by the Kalyani Group. Spike Anti-Tank Guided Missiles... Continued.
Kazakhstan, a member of the Russia-led economic blocks became 162th member of World Trade Organization (WTO). The agreement of accession was signed between the WTO Director General Robert Azevedo and Kazakhstan president Nursultan Nazarbayev at Geneva. The path of Kazakhstan to become WTO member was difficult because of the complexity of process and it is... Continued.
World Trade Organisation (WTO) members reached a landmark Information Technology (IT) trade deal in order to add more than 200 products to the list dealing with zero-tariff and duty-free trade. In this agreement, products covered will include new-generation semi-conductors, medical products which include magnetic resonance imaging (MRI) machines, GPS navigation systems, machine tools for manufacturing... Continued.
The International North-South Transport Corridor (INSTC) is considered as gateway for India to expand trade and investment links with Central Asia and Eurasia. Its importance was highlighted in India’s Foreign Trade Policy of India 2015-20. However, recently it gained importance in light of the evolving geopolitical developments of India after Prime Minister Narendra Modi’s visit... Continued.
Union Government has launched GPS-Aided Geo Augmented Navigation (GAGAN) system, for aviation navigation. Facts about GAGAN system Jointly developed by Indian Space Research Organisation (ISRO) and Airports Authority of India (AAI). It will provide augmentation service for GPS over the India, Bay of Bengal, South-east Asia and Middle East along with expansion up to Africa.... Continued.
India has been accorded full membership of the Shanghai Cooperation Organisation (SCO) along with Pakistan at its Ufa summit held in Russia. Technically, India and Pakistan will become the members of SCO by 2016 after completion of certain procedures. This membership will help India to work with the 6 members grouping to enhance connectivity, combat... Continued.
China has nominated its former finance Minister Jin Liqun as the Presidential candidate Asian Infrastructure Investment Bank (AIIB). President of AIIB The President of AIIB will be national of a regional member. Election process: He will be elected an open, transparent and merit-based process by the Board of Governors of Bank with 75 per cent... Continued.
India and Kazakhstan launched the first exploratory drilling at Satpayev oil block owned by India’s ONGC Videsh Limited (OVL) and Kazakhstan company.... Continued.
India and Kazakhstan launched the first exploratory drilling at Satpayev oil block owned by India’s ONGC Videsh Limited (OVL) and Kazakhstan company KazMunaiGaz. It was jointly launched by Prime Minister Narendra Modi and Kazakhstan premier Karim Massimov in Astana, Kazakh capital. Satpayev oil block is an offshore field located in the Northern Caspian Sea.... Continued.
China has opened 2nd land border crossing in Tibet via Nathu La, Sikkim to allow the Indian pilgrims for Kailash-Mansarovar yatra. The new route is in addition and alternative to the existing Lipulekh Pass route located in Uttarakhand which was only route earlier. This route was damaged in the devastating Uttarakhand floods in 2013. It... Continued.