(Current Affairs) India and The World | May: 2015

India & The World

India & Sri Lanka Signs four Agreement

  • India signs four agreement with Sri Lankan government during recent PM Modi visit to Island nation. This was the first bilateral tour by any Indian premier in 28 years.
  • During this visit the both country has singned four agreements on visa, customs, youth development and building Rabindranath Tagore memorial in Sri Lanka.
  • PM here announced that, India is ready to help develop Trincomalee as petrolium hub for this the Indian government would provide a fresh Line of Credit of up to US $318 million for the railways sector in Lanka.

  • Prime Minister also announced that the apex bank of both the country i.e. reserve Bank of India and Central Bank of Sri Lanka have agreed to enter into a Currency Swap Agreement of US $ 1.5 billion to help keep the Sri Lankan rupee stable
  • PM Modi here urged Sri Lankan Government to fully implement the 13th Amendment as early.

India to Develop Infrastrucre in Mauritius and Seychelles

  • With the motive to building strategic assets in Indian Ocean countries, Mauritius and Seychelles, as New Delhi signed agreements with them to develop “infrastructure” in two islands one each in both nations.

  • In Mauritius, India signed an MoU for the “improvement in sea and air transportation facilities” at Agalega island. This pact provides for “setting up and upgradation of infrastructure for improving sea and air connectivity at the Outer Island of Mauritius which will go a long way in ameliorating the condition of the inhabitants of this remote Island.

  • In Seychelles, India inked a pact to develop the infrastructure of Assumption island, one of the 115 islands that constitute the country. Spread over 11 sq km, it is strategically located in the Indian Ocean, north of Madagascar.

India signs security Coperation pact with Mauritius

  • India and Mauritius announced a new security cooperation agreement, as part of Prime Minister Narendra Modi’s Indian Ocean outreach.

  • This agreement would give India a strategic advantage in the Indian Ocean region, working closely with the Mauritius Defence Forces guarding the outer islands. In addition, India has extended a $500-million Line of Credit for development or security projects that Mauritius will decide on.

  • The highlight of India’s push for maritime heft during the visit will be the commissioning of a 1,300-tonne, Indian-built coastal patrol vessel, MCGS Barracuda . The ship will showcase India’s commitment on maritime security, particularly along the African coast that faces the threat of piracy.

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