India and Bangladesh Signed Nuclear Deal
- India concluded a nuclear agreement with Bangladesh. The core of the new engagement is energy, connectivity, security on May 15, 2016. Prime Minister Narendra Modi and his Bangladesh counterpart Sheikh Hasina inaugurated, a 100 MW power transmission line from Palatana to Bangladesh, India is preparing to upgrade it to 500 MW.
- Four Indian companies BHEL, Reliance, Shapoorji-Pallonji and Adani have bid to build power plants in Bangladesh. The Indian nuclear deal will equip and train Bangladesh to import their first nuclear power plant from Russia.
Approval for Moll between SEBI and FSRA
- The Union Cabinet on May 13, 2016 approved for signing of a Memorandum of Understandings (MoU) between Securities and Exchange Board of India (SEBI) and Financial Services Regulatory Authority (FSRA), Abu Dhabi for mutual cooperation and technical assistance between the two regulators.
- The MoU will promote further development of economic links and cooperation between the two signatories and will help create conditions for development of securities markets in the two countries. It would also contribute towards strengthening the information sharing framework between the two regulators.
Indo-US Brain Trust Formed to Deepen Scientific Collaboration
- India and the USA on May 14, 2016 formed a Brain Trust aimed at deepening and strengthening cooperation between the brightest in the scientific community of the world’s two largest democracies.
- The Indo-US Brain Trust intends to assemble some of the finest minds to support a deepening of US-India collaboration in science, research, academia, entrepreneurship and innovation.
- Dr. Krishna K. Banaudha, an Indian-American scientist designed Indo-US Brain Trust.
India, WHO Inked Pact to Promote Yoga, Ayurveda
- India signed an agreement with World Health Organisation for cooperation in promoting traditional medicine, for training in Yoga, Ayurveda, Unani and Panchakarma on May 14, 2016.
- It aims to support WHO in the development and implementation of the ‘WHO Traditional and Complementary Medicine Strategy : 2014-2023’.
- AYUSH Ministry and WHO signed a historic Project Collaboration Agreement (PCA) for cooperation on promoting the quality, safety and effectiveness of service provision in traditional and complementary medicine.
India and China Signed Global Pact to help TaxMNCs
- India and China in May, 2016 signed a pact for automatic exchange of information on tax issues and develop new tools and standards for tackling tax base erosion and evasion.
- The pact allows all signatories to bilaterally and automatically exchange country-by-country repons with each other. The agreement was signed as pan of the global initiative called Base Erosion and Profit Shifting that is meant to ensure that MNCs do not get away without paying taxes.
- Apart from these two Asian countries, Canada, Iceland, Israel and New Zealand have also signed the Multilateral Competent Authority agreement.
