1) Honorary doctorate to President Pranab 

President Pranab Mukherjee was conferred honorary degree by the Russian Diplomatic Academy in Moscow. The President is on four days tour of Russia to witness the Victory Day parade in Moscow to mark the 70th anniversary of allied forces victory during the Second World War.

2) India, Japan to set up Logistics Data Bank to expedite bilateral trade

• The LDB will be operated by a special purpose vehicle (SPV), which will be jointly run by DMIC Trust from Indian side and Japan`s NEC. Once in operation, the LDB is expected to save $3.2 billion annually by 2017 on the basis of real time tracking of container movement. The Shareholders Agreement (SHA) for the project is under discussion presently. The concept was basically developed to address the issue of tracking and viewing container movement across all ports to the ICDs and end-users. 
• In terms of revenue earning for the government, the data will be collected from all stakeholders for a fee with user charges collected from shippers based on mandatory user charge, which will be 0.2 per cent of the total transportation cost, Kumar said. Presently, almost 60 per cent of the container traffic is concentrated in the western corridor. Besides, several stakeholders such as the railways, ports, customs and transporters operate their own IT-enabled systems without sharing the data with each other.

3) DTAA with South Korea

• Its primary purpose is to provide for tax stability to the residents of India and South Korea and facilitate mutual economic cooperation as well as stimulate the flow of investment, technology and services between the two countries. It provides for source based taxation of capital gains, making adjustments to profits of associated enterprises on the basis of arm`s length principle and residence based taxation of shipping income. 
• It rationalizes tax rates in the Articles on Dividends, Interest and Royalties and Fees for Technical Services. It enables effective exchange of information and assistance in collection of taxes between tax authorities It incorporates limitation of benefits provisions under the agreement to ensure that the benefits are availed of only by genuine residents of both countries.
• www.sakshieducation.com Published on 5/12/2015 5:07:00 PM

1) Conference on India-Vietnam relations

• India also has 92 ongoing projects with a registered investment of US $ 1 billion and has announced a US $ 300 million credit line to diversify the supply and garment materials from India. The conference was organized to commemorate the 125th birth anniversary of Ho Chi Minh.

• According to foreign Secretary, S Jaishankar strengthening trust, increasing convergence, connectivity and strengthening counter terrorism cooperation between the two countries were the other issues that were discussed. On international front, UN Security Council reforms and India’s membership to the Nuclear Suppliers Group also came up for discussion.
• Later, President Jinping accompanied Prime Minister Modi to Giant Wild Goose Pagoda. Built in the sixth century, the Pagoda has strong Indian links. 
• Great Chinese traveller Xuanzang, after returning from India with Buddhist scriptures, came back here and translated them into Chinese language. 
• Buddha figurines brought by him were also kept here. This is a holy place for Buddhists and a masterpiece of Buddhist architecture. Both the leaders stayed together for about 45 minutes at the Pagoda. 
• The Prime Minister presented to the Chinese President replicas of a stone casket of Buddhist relics and a stone statue of Buddha that were excavated from a 3rd -4th century stupa at Dev Ni Mori near Vadnagar in Gujarat.

3) India-Bangladesh power secretary-level meeting held

• The installation of a high capacity multi-terminal HVDC bipole transmission line for power transmission between north and north-eastern India and Bangladesh was also discussed. 
• The meeting also reviewed the progress of the 1320 MW Moitree Super-thermal power plant being implemented by the India-Bangladesh Friendship Power Company.

• An action plan between the Indian Railways and China National Railways on enhancing cooperation in the railway sector was also signed. Agreements are…
• Protocols between India and China on the establishment of consulates-general at Chengdu and Chennai and the extension of the consular district of the consulate general of India in Guanzhou to include Jiangxi province.
• MoU between the ministry of skill development and entrepreneurship of India and the ministry of human resources and social security of China on cooperation in the field of vocational education and skill development.
•     Action plan on cooperation in setting up of the Mahatma Gandhi National Institute for Skill Development and Entrepreneurship in Ahmedabad/Gandhinagar in Gujarat.
• MoU between India and China on consultative mechanism for cooperation in trade negotiations.
• MoU on cooperation between the ministry of external affairs of India and international department of the central committee of the Communist Party of China.
• Action plan between the National Railway Administration of China and the ministry of railways of India on enhancing cooperation in the railway sector. (2015-16).
• MoU on education exchange programme.
• MoU between the ministry of mines of India and the ministry of land and resources of China on the cooperation in the mining and minerals sector.
• Space Cooperation Outline (2015-2020).
• Protocol on health and safety regulations on importing Indian rapeseed meal between the export inspection council, ministry of commerce and industry of India and the general administration of quality supervision, inspection and quarantine.
• MoU between Doordarshan and China Central Television on cooperation in the field of broadcasting.
• Agreement between the ministry of tourism of India and the national tourism administration of China on cooperation in the field of tourism.
• MoU on establishing India-China think-tanks forum.
• MoU between India`s Niti Aayog and the Development Research Centre, State Council of China.
• MoU between India`s ministry of earth sciences and the China Earthquake Administration concerning cooperation in the field of earthquake science and earthquake engineering.
• MoU between India`s ministry of earth sciences and the State Oceanic Administration of China on cooperation in the field of ocean science, ocean technology, climate change, polar science and cryosphere.
• MoU on scientific cooperation between Geological Survey of India, ministry of mines of India and the China Geological Survey, ministry of land and resources of China in geoscience.
• MoU between the ministry of external affairs of India and ministry of foreign affairs of China on establishment of states/provincial leaders` forum.
• Agreement on the establishment of sister-state/province relations between state government of Karnataka and provincial government of Sichuan of China.
• Agreement on establishment of sister-city relations between Chennai and Chongqing of China.
• Agreement on establishment of sister-city relations between Hyderabad and Qingdao of China.
• Agreement on establishment of sister-city relations between Aurangabad and Dunhuang of China.
• MoU between the Indian Council for Cultural Relations and Fudan University on the establishment of a centre for Gandhian and Indian studies.
• MoU between Indian Council for Cultural Relations and Yunnan Minzu University on the establishment of a yoga college  
• Chinese and Indian companies’ agreements
• Chinese companies have committed an investment of 22 billion US Dollars in India. 21 agreements in this regard were signed between Indian and Chinese partners in Shanghai on 16th May
• Axis Energy Ventures India signed a tripartite MoU in the renewable energy sector with Chinese companies Mingyang Wind Power and Global Wind Power.
• Essel Solar signed a pact with China`s JA Solar to set up a solar cell and module manufacturing facility.
• Wipro BPS`s pact with Dalian Municipal People`s Government and Yida China Holding was for an offshore delivery centre in Dalian.
• Bharti Airtel signed agreements with China Development Bank for financing for the purchase of equipment from ZTE and Huawei, and that under licence approved by the Telecom Regulatory Authority of India.
• The Indian telecom operator also signed a credit facility deal with Industrial & Commercial Bank of China.
• Adani Group signed an agreement to establish an integrated PV industrial park in Mundra SEZ with China`s Golden Concord Holdings.
• Adani Power signed with China Development Bank a pact on financing of APL Mundra Power Plant Phase I, II and III.
• Adani Ports and SEZ signed a pact with Guangzhou Port Authority for establishment of a sister port relationship between Mundra Port and Guangzhou Port.
• Jindal Steel and Power signed an agreement with the Industrial & Commercial Bank of China for development of potential projects.
• Sun Group signed an MoU with Canadian Solar Power China to generage 5,000 MW of solar power in the next five years as well as manufacturing of solar modules.
• GMR Group signed with Guizhou International Investment Corporation an MoU on an industrial park in Kakinanda SEZ for high-end Chine equipment manufacturers.
• Infosys Technologies (China) signed an agreement with People`s Government of Qiannan Autonomous Prefecture to jointly build `China-India Information Service Corridor` in Qiannan Autonomous Prefecture.
• IL&FS or Infrastructure Leasing & Financial Services signed an MoU with Industrial & Commercial Bank of China.
• IL&FS also signed a deal with China Huaneng Group.
• Welspun Group signed a deal with China National Technical Import and Export Corporation (CNTIC) for an integrated steel project in Gujarat.
• Welspun Energy signed a memorandum of understanding (MoU) with China`s Trina Solar to jointly set up a photovoltaic industry park for production of 500 MW of photovoltaic cell and 500 MW of photovoltaic solar module in India.
• Autolite India signed a deal with Jinway Import & Export for manufacturing of high-tech capital goods in India.
• Bhushan Power and Steel signed a deal with CNTIC for a hot-rolled steel coil project.
• Eros Group signed an MoU with Shanghai Film Corporation for mutual development and exploration in opportunities in Indian and Chinese film markets.
• Eros Group also signed a pact with China Film Group for co-production of film Xuan Zang.
• NIIT China signed an MoU with Gui`an New Administrative Committee, Guizhou province for cooperation in the IT sector.
• The Confederation of Indian Industry (CII) signed a pact with People`s Government of Guizhou for promoting Indian companies participating in IT projects.
• The industry chamber also signed a pact with Zhisland & Xifu for connecting Indian and Chinese private sector companies.
• Aarvee Associates Architects Engineers & Consultants signed a partnership agreement with China Railway SIYUAN Survey & Design Group.

5) ICICI bank in China

• The lender will facilitate international trade between China and other countries, support Chinese corporates and EPC (engineering, production and construction) contractors bidding for infrastructure projects and funding requirements in India. It will also cater to the needs of business expansion projects of Indian joint ventures and subsidiaries of Indian entities in China. Apart from this, it will also handle remittances from China to India.
• The bank’s global footprint includes a subsidiary in United Kingdom and Canada. Apart from this, the bank has international branches in United States, China, Singapore, Bahrain, Hong Kong, Sri Lanka, Qatar and Dubai International Finance Centre. It also has representative offices in United Arab Emirates, Bangladesh, Malaysia and Indonesia.

• Several other lenders such as State Bank of India, UCO Bank, Allahabad Bank among others also have a presence in China.

• Government had earlier proposed to bring the bill in the Lok Sabha, but faced stiff resistance from the opposition that wanted territories in Assam be included in it. Government will have to bring the Constitutional Amendment Bill for ratification of the Land Boundary Agreement with Bangladesh. It would require ratification by at least 50 per cent of the state legislatures before it comes into effect.

1) Isro moots ground station in Vietnam

• The proposal is going to help India receive, process and use data from Indian satellites for a variety of applications including disaster management support
• It can also be used to provide training in space science, technology and applications which will benefit other members of Association of South-East Asian Nations (Asean) too —Brunei, Cambodia, Indonesia, Laos PDR, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

• Cabinet also approved signing of Memorandum of Understanding with Bangladesh on prevention of human trafficking, especially of women and children, and speeding up prosecution. In another decision, government has decided to set up a committee headed by Prime Minister to commemorate Dr. B R Ambedkar’s 125th birth anniversary. Cabinet also gave its nod for reclassification and up gradation of some cities for granting House Rent and Transport Allowance to central government employees.

3) Cabinet clears signing of pact between India, Sweden on MSMEs

• It provides a structured framework and enabling environment to the MSME sector in the two countries to understand each other`s strengths, markets, technologies and policies. 
• The MoU also contains an agreement to enable respective MSMEs to participate in each other`s trade fairs/exhibitions and to exchange business delegations, to understand policy and explore markets so that joint ventures, tie-ups and technology transfer among others could take place.
• The agreement, however, does not contain or involve any financial, legal or political commitment on the part of either party. In no case does it attract any financial liability on the part of the government. 
• The MSME Ministry has so far entered into long-term agreements for cooperation in the MSME sector with ministries or organisations of 17 countries namely, Tunisia, Romania, Rwanda, Mexico, Uzbekistan, Lesotho, Sri Lanka, Algeria, Sudan, Cote d`lvoire, Egypt, Botswana, South Korea, Mozambique, Indonesia, Vietnam and Mauritius.

• It`s the first ever visit of an Indian Prime Minister to Mongolia. Mongolian President Tsakhiagiin Elbegdorj gifted Prime Minister Narendra Modi The Morin Khuur, traditional Mongolian instrument.
• The Prime Minister also presented President Tsakhiagiin Elbegdorj a specially commissioned reproduction of a rare 13th century manuscript on the history of Mongols from the Rampur Raza Library, Rampur. The manuscript is a part of Volume 1 of the work and no other copy of it is known to exist. 
• India, Mongolia sign 14 agreements: India and Mongolia on 17th May signed 14 agreements, including an air services agreement and in cyber securit. 
• Prime Minister Narendra Modi and his Mongolian counterpart Chimed Saikhanbileg inked a new bilateral strategic partnership agreement after their talks at the State Palace. Among the 14 agreements is to set up a cyber security training centre in the Mongolian defence ministry, a MoU in the field of new and renewable energy, and for setting up an India-Mongolia Friendship Secondary School in Mongolia. 
• Both sides inked an air services agreement and on the transfer of sentenced prisoners. A separate agreement in the field of traditional systems of medicine and homeopathy was also signed. 
• 1 billion USD credit line to Mongolia: Upgrading India and Mongolia`s relationship from Comprehensive to "Strategic Partnership", Prime Minister Narendra Modi announced a credit line of 1 billion US dollars to Mongolia to expand its economic capacity and infrastructure
• Taking the economic partnership to a new level, Prime Minister Narendra Modi announced to support in expansion of Mongolia`s economic capacity and infrastructure.
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• Terming Mongolia as an integral part of India`s Act East Policy, Prime Minister Modi said both the countries can work together to help advance peace, stability and prosperity in the region.
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• The Prime Minister added that India attaches high importance to Mongolia`s security cooperation and will help in establishing a cyber security centre in Mongolia`s defence and security establishment 
• Radiotherapy machines to cancer hospital: Prime Minister Narendra Modi handed over two high-tech machines for the only cancer hospital at Ulan Bator. The indigenous machines have been developed in collaboration with Bhabha Atomic Research Centre. The high-tech machines for radiotherapy will also promote the Make in India campaign in Mongolia as only 5 companies worldwide can make such machines.
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• Foundation for IT Centre in Ulan Bator: The Prime Minister also laid the foundation stone of IT Centre at Mongolian University of Science and Technology in the capital Ulan bator
• Ceremony of Naadam Festival: Prime Minister Narendra Modi on 17th May witnessed the opening ceremony of Naadam Festival. Naadam which means games and it is the biggest event of the Mongolian year. It is being celebrated all over the country. 
• It features the three sports, mainly wrestling, archery and horse racing. The strongest wrestlers, fastest horses and expert marksmen come together to compete for the National title. 
• Modi to Gandan Monastery: Indian Prime Minister Narendra Modi, the first Indian prime minister to visit Mongolia, visited the ancient Gandan Monastery in the Mongolian capital and also presented a sapling of the revered Bodhi tree to the chief abbot of the Buddhist temple. 
• Modi also lighted incense at the monastery, also known as the Gandantegchinlen Monastery. He also went to the Janraisag Monastery, inside the Gandan monastery complex. The Janraisag monastery houses a 26-metre tall statue of Janraisag Buddha. 
• The Gandantegchinlen Monastery was established in 1835 by the Fifth Jebtsundamba, the highest reincarnated lama of Mongolia. 
• The monastery has three colleges of Buddhist philosophy: a medical and astrological college, a Kalachakra temple, a Jud Tantric College and an the Migjid Janraisig temple which houses the Avalokiteshvara statue. 
• Most Buddhist monasteries in Mongolia were destroyed during the communist regime, which lasted until 1990. The only one to survive was the Gandan Monastery.

5) India, South Korea 7 agreements

• Both the countries signed seven pacts to enhance bilateral cooperation. The agreements were signed after delegation level talks between Prime Minister Narendra Modi and South Korean President Park Geun-Hye in Seoul. 
• The two leaders held comprehensive discussions and agreed to further broaden the cooperation between the two nations. 
• Both countries have agreed to upgrade bilateral relations to a special strategic partnership and enhance defense ties. 
• The Indian Prime Minister said that the two nations have agreed to enhance the bilateral ties to the level of special strategic relations. 
• The Prime Minister said that India and South Korea have agreed to further boost the participation of South Korean companies under the `Make In India` programme.
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• India-Korea trade ties:India and South Korea have a robust economic engagement, and Prime Minister Modi`s visit is set to deepen the partnership between both the countries. 
• Important business meets and signing of agreements will be a part of Prime Minister`s itinerary as significant business in fields of trade, shipping, logistics and new energy is expected to be conducted. 
• India and Korea trade ties hold significance as bilateral trade between both countries currently stands at around 17 billion dollars. 
• Some 400 companies are doing business in India with investments of over 3 billion dollars. The focus is on getting assistance from South Korea for smart cities, Digital India and Swachh Bharat Abhiyan programmes 
• PM meets UN chief in South Korea
• Indian Prime Minister Narendra Modi on 18th May met UN Secretary General Ban Ki-moon in Seoul and discussed key global issues with him 
• Discussed key global issues during the wonderful meeting with @UN Secretary General, Ban Ki-moon," Narendra Modi tweeted. Ban is a South Korean national. He is set to retire in 2016 after two terms.
• PM at Cheonggyecheon Stream in Seoul
• Indian Prime Minister Narendra Modi took the tour of the urban renewal project Cheonggyecheon Stream which was cleaned up and is a model for similar projects around the world. The Prime Minster`s visit to the Stream is considered significant as it comes at a time when government is promoting Swacch Bharat abhiyan and Clean Ganga campaigns 

1. Government of India plans to build 50 million houses by 2022 as also build Smart Cities, industrial corridors and mega investment regions which provide immense investment opportunities for South Korean business and industry.
2. India invited the Korean companies to invest in India in the Railways, sea ports and shipbuilding, housing, power and infrastructure sectors among others.
3. PM also said that Indian government is committed to cleaner and greener development in the country for which ‘Zero defect, Zero Effect’ approach to manufacturing has been adopted.
4. In the sixth Asian Leadership Forum, Prime Minister called for an inclusive international economic growth and collective efforts by Asian countries for a faster growth. In a reference to climate change, the Prime Minister said, we need to change our lifestyles. He called upon Asian countries to work together for cleaner technologies.
5. In South Korea the two countries signed revised Double Taxation Avoidance Agreement and agreed to renegotiate the India Korea Comprehensive Economic Partnership Agreement (CEPA). A development package of 10 billion US dollars under export credit and development fund for infrastructure including smart cities, railways and power sectors was also announced by the South Korean government as an outcome of the visit.
6. On the international front, Prime Minister Narendra Modi gave a call for an inclusive international economic growth and collective efforts by Asian countries for a faster growth. He called upon Asian countries to work together for cleaner technologies.

• Both sides also agreed to set up a Sub-Committee on Science & Technology and promote cooperation in Micro, Small and Medium Enterprises (MSMEs).
• Swaraj and Mashabane also discussed regional and multilateral issues including BRICS, IBSA, IORA, counter-terrorism, cyber security, reforms of multilateral institutions, especially the United Nations Security Council.