Bilateral Current Affairs
Bilateral Current Affairs March 2nd Week 2016
Category : Bilateral Current Affairs
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1) India, France sign MoU for 6 Jaitapur nuclear reactors

  • India and France have signed a memorandum of understanding (MoU) for construction of six nuclear reactors at Jaitapur in Maharashtra, two months after the two countries decided to conclude the techno-commercial negotiations for the project by the year end.
  • The pact was inked on 22nd March at the end of the two-day visit of a high-level delegation of Electricite de France (EDF) — French public utility — to Mumbai for holding discussions with the Nuclear Power Corporation of India Ltd (NPCIL) on the construction of the plants
  • French Ambassador to India Francois Richier, who was present on the occasion, reiterated his country’s commitment to working seamlessly with India through a collaborative approach to enable both sides to contribute collectively to the development of nuclear energy in India in the most economical manner.

2) India-UAE agreement for $75 billion investment in NIIF gets clearance

  • Current Affirs The Union Cabinet gave its ex-post facto approval for a Memorandum of Understanding (MoU) between India and the United Arab Emirates (UAE) to mobilise up to $75 billion long-term investment in the National Investment and Infrastructure Fund (NIIF).
  • The MoU will help establish a transparent and high-level framework and collaboration platform under which both countries intend to explore ways to facilitate and expand the participation of UAE`s investment institutions in appropriate infrastructure projects and institutions in India including NIIF
  • The MoU was signed in February during Prime Minister Narendra Modi’s visit to UAE. A joint working group comprising of the concerned representatives of both parties would take forward cooperation under this MoU and to discuss and agree the terms, principles and criteria jointly
  • Meanwhile, the Cabinet also gave its approval for the procurement of launch services and realisation of ground segment for GSAT-11 spacecraft at a cost of Rs.1,117 crore.
  • GSAT-11 is a communication satellite with 32 high-power spot beams for providing high bandwidth VSAT communication is currently under development at DOS/ISRO facilities. It will be ready for launch by the end of 2016.