Pib

Pib

1. Indian Navy Conducts Exercise Naseem-Al-Bahr with Oman Navy

Delegations from Royal Navy of Oman embarked Indian Naval Ship Teg on 18 Dec 17 for briefing on basic Anti-submarine warfare procedures. The Indian Navy ships along with four Royal Navy of Oman ships Al Rasikh, Khassab, Al Mubashir and Al Bushra sailed for the sea phase of the exercise where, for the first time, an Indian Navy submarine as well as the versatile P8I, long range maritime aircraft are participating.

India has an ancient maritime tradition and maritime interaction with Oman dates back to over 4000 years B.C. Bilateral relation between Indian and Oman were formally established with signing of a 1953 Indo-Oman Treaty of friendship, Navigation and Commerce, a first between India and an Arab country. Since then, Naval exercises have contributed to strengthening of bilateral ties between India and Sultanate of Oman. The first exercise Indian Navy with Royal Navy of Oman was conducted in 1993 and this year marks 24 years of Indian Navy -Royal Navy of Oman bilateral exercises. The signing of an MoU on Defence Cooperation in Dec 2005 and subsequent establishment of the Joint Military Cooperation in Mar 2006 has set the foundation for increased defence cooperation. The naval cooperation between the countries has gradually increased in scope and scale.

2. Japanese Grant Aid signed for Bengaluru Project for Advanced Traffic Information and Management

The Government of Japan has committed Grant Aid of an amount of JPY 1.276 billion (= approx. Rs. 72.86 crore) for the project. This Project will install an Advanced Traffic Information and Management System, including signaling system and traffic congestion length measurement sensor, in core Bengaluru, Karnataka. It is expected that this project will contribute to strengthening connectivity and industrial competitiveness of local economy by improving traffic congestion and urban environment.

India and Japan have had a long and fruitful history of bilateral development cooperation since 1958. In the last few years, the economic cooperation between India and Japan has steadily progressed. This further consolidates and strengthens the Strategic and Global Partnership between India and Japan.

3. Loan Agreement signed for Pare Hydroelectric Plant to aid socio-economic development of the North Eastern Region

A Loan agreement and a Guarantee agreement for providing additional funding of Euro 20 million was signed today for the project ‘Pare Hydroelectric Plant’ under Indo-German Bilateral Development Cooperation. The Loan agreement for the project was signed by Sh. A.G. West Kharkongor, Chairman and Managing Director, North Eastern Electric Power Corporation Limited (NEEPCO) and Mr. Christoph Kessler, Director, KFW while the Guarantee Agreement was signed by Sh. S. Selvakumar, Joint Secretary, DEA and Mr. Christoph Kessler, Director, KFW in the presence of H.E. Dr. Martin Ney, Ambassador of Federal Republic of Germany to India,.

It may be recalled that in 2008, Germany had signed a loan agreement with North Eastern Electric Power Corporation Limited (NEEPCO) for providing Euro 80 million with Government of India’s Guarantee for the project ‘Pare Hydroelectric Plant’ under Indo-German Bilateral Development Cooperation. The broad objective of the project is generation of hydroelectric power for socio-economic development of the North Eastern Region. The purpose of the project is efficient and ecological friendly generation of electric power. This will contribute to the economic efficient generation of power, growth in the North East region and protection of global climate.

4. Nearly rs. 52,000 crore capital infused in psbs under indradhanush plan

The Government has so far infused capital of Rs. 51,858 crore in PSBs. Government allocated a sum of Rs. 22,915 in 13 PSBs during the FY 2016-17 under first tranche of capital infusion out of which a sum of Rs. 16,414 (75%) was infused upfront and the remaining amount was to be infused based on the performance of the respective banks.

Government of India proposed to make available Rs. 70,000 crore out of budgetary allocations for infusing capital in Public Sector Banks (PSBs). Amounts of Rs. 25,000 crore each in the financial years 2015-16 and 2016-17, and Rs. 10,000 crore each in financial years 2017-18 and 2018-19, were envisaged.

5. Flagging off of First Trial Shipment of Green Chillies by Air from Varanasi

Eastern Uttar Pradesh is one of the potential areas for export of fresh fruits and vegetables, such as green chillies, okra, bitter guard, green peas, brinjal and mango and guava etc. Despite the potential of fresh produce in Uttar Pradesh, exports are not taking place due to logistic constraints.

To address this concern, the Agricultural and Processed Food Exports Development Authority (APEDA) has sensitized exporters to source produce from Uttar Pradesh for export to various markets. As an outcome of this effort, one exporter has agreed to export green chillies and green peas from Varanasi to Dubai. Necessary tie up with importers has also been facilitated by APEDA. With the efforts of APEDA, facilities of custom clearance and phyto-sanitary certificate issuance at Lal Bahadur Shastri International Airport, Varanasi are being set up, to facilitate exporters from the region for export of fresh fruits and vegetables. Spice Jet airlines has also come forward to facilitate trade from Varanasi by sending the consignment via Delhi.