8 agreements signed between India and the US and what they mean
Prime Minister Narendra Modi met US President Barack Obama in Washington on Tuesday.
The two leaders discussed wide ranging issues, from climate change to India’s entry into the nuclear suppliers group (NSG).
PM Modi also spoke at the US-India Business Council (USIBC) where Amazon said that the company is investing $3 billion more in the Indian ecommerce market. Collectively, American business told Modi that they are investing $45 billion in India.
The two countries signed eight agreements as well.
Here is what each of these arrangements are and what they mean.
1.Agreement on terrorist screening policy:
As per this Arrangement, India and the US shall provide each other access to terrorism screening information through the designated contact points, subject to domestic laws and regulations. The Arrangement would enhance the counter terrorism cooperation between India and the US.
2.MoU on Energy Security, Clean Energy and Climate Change:
The objective of the MoU is to enhance cooperation between India and the US on energy security, clean energy and climate change through increased bilateral engagement and further joint initiatives for promoting sustainable growth.
3.MoU on Wildlife Conservation and Combating Wildlife Trafficking:
The MOU seeks cooperation in areas such as Wildlife Forensics and Conservation Genetics; Natural World Heritage Conservation and Nature Interpretation; and Conservation Awareness, between India and the US for wildlife conservation and management and combating wildlife trafficking.
4.MoU on the Development of an International Expedited Traveller Initiative:
The Global Entry is a US Customs and Border Protection programme, which allows expedited clearance for pre-approved, low-risk travellers upon arrival in the United States. After joint scrutiny and clearance by both countries, the approved Indian travellers will be extended the facility of expedited entry into the United States through automatic kiosks at select airports.
5.Technical arrangement on unclassified Maritime Information Sharing:
The Arrangement would allow sharing of unclassified information on White Shipping between India and the US as permitted by respective national laws, regulations and policies, and provides a framework for mutually beneficial maritime information.
6.MoU on cooperation for gas and hydrates:
The MOU aims to increase the understanding of the geologic occurrence, distribution, and production of natural gas hydrates along the continental margin of India and in the US.
Finalised documents
7.MoU concerning Aircraft Carrier Technologies:
IEA is aimed to enhance data and information sharing specific to aircraft carriers technology between India and the US.
8.Logistics Exchange Memorandum of Agreement:
The agreement is aimed at facilitating mutual logistic support between India and the US for authorized port visits, joint exercises, joint training and HA-DR (humanitarian assistance and disaster relief).
Get Latest Business News, Stock Market Updates and Videos; Check your tax outgo through Income Tax Calculator and save money through our Personal Finance coverage. Check Business Breaking News Live on Zee Business Twitter and Facebook. Subscribe on YouTube.
RECOMMENDED STORIES
Senior Citizen Latest FD Rates: Know what major banks like SBI, PNB, Canara Bank, HDFC Bank, ICICI Bank are providing on fixed deposits
Gratuity Calculator: Rs 38,000 as last-drawn basic salary, 5 years and 5 months of service; what will be gratuity amount?
EPFO Pension Schemes: Early pension, retirement pension, nominee pension and 4 other pension schemes that every private sector employee should know
Top 5 Small Cap Mutual Funds with best SIP returns in 1 year: See how Rs 25,000 monthly investment has grown in each scheme
Top 7 SBI Mutual Funds With Best SIP Returns in 1 Year: Rs 25,000 monthly SIP investment in No.1 fund has jumped to Rs 3,58,404
12:54 PM IST