India, Lanka ink civil nuclear pact, agree to expand defence ties

February 16, 2015

New Delhi, Feb 16: Taking the ties to a new level, India and Sri Lanka today inked a civil nuclear pact besides deciding to expand defence and security cooperation.sirisena modi

This was announced after the talks between Prime Minister Narendra Modi and Sri Lankan President Maithripala Sirisena during which both the leaders expressed commitment to find a solution to the emotive fishermen issue by adopting a constructive and humanitarian approach.

"The bilateral agreement on civil nuclear cooperation is yet another demonstration of our mutual trust. This is the first such agreement Sri Lanka has signed. It opens new avenues for cooperation, including in areas like agriculture and healthcare," Modi said in a joint press interaction with Sirisena.

Sirisena, who arrived here yesterday, has chosen India for his first foreign trip after assuming charge of the country. He had dethroned Mahinda Rajapaksa from his 10-year rule after a bitter Presidential poll.

The nuclear pact would facilitate cooperation in the transfer and exchange of knowledge and expertise, sharing of resources, capacity building and training of personnel in peaceful uses of nuclear energy, including use of radioisotopes, nuclear safety, radiation safety and nuclear security.

It would also facilitate cooperation in radioactive waste management and nuclear and radiological disaster mitigation and environmental protection.

The two countries also signed three other pacts, including cooperation in the field of agriculture. Another MoU was signed to enable Sri Lanka to participate in the Nalanda University Project.

The Prime Minister said he and the Sri Lankan leader also agreed to expand the defence and security cooperation.

"We welcomed the progress in our maritime security cooperation, including in the trilateral format with the Maldives," he said.

Modi said he believed that destinies of both the countries are "inter-linked" and that "our security and prosperity are indivisible".

Modi said they had "excellent discussions" on bilateral relations and international issues and added that India was honoured that Sirisena had chosen the country for his first overseas destination after assuming charge.

On the fishermen issue, Modi said he and the President attached the "highest importance" to it.

"It affects livelihoods on both sides. We agreed that there must be a constructive and humanitarian approach to the issue.

"We will encourage the fishermen's associations on both sides to meet again soon. They should find a solution that can be taken forward by both governments," he said.

The Sri Lankan President expressed happiness over the outcome of the talks and said the friendship between the two countries was not only important to each other but was significant for the region as well.

"I really appreciate Prime Minister Modi's efforts (to improve ties). Relations between the two countries will be strengthened further," he said.

Modi also thanked Sirisena for inviting him to visit Sri Lanka and said he was "eagerly looking forward to visiting the country in March".

"We are at a moment of an unprecedented opportunity to take our bilateral relations to a new level. His visit today has set us firmly in that direction," the Prime Minister said while congratulating Sirisena for his historic victory in the recent elections in the island nation.

On the fishermen issue, Modi said fishermen's associations on both sides will be encouraged to meet again soon while noting that that they should find a solution that can be taken forward by both governments.

Modi said India was Sri Lanka's closest neighbour and friend and the goodwill and support of the people of India will always be with it.

"We also share a broad range of interests - economic development for our countries; peace and prosperity in South Asia; maritime security in the region," he said.

On the economic engagement, Modi said both the countries are committed to "unlock" the vast potential of the economic cooperation.

"We are pleased to be Sri Lanka's largest trading partner. I know that India enjoys a huge trade surplus. I expressed my support for a more balanced growth in trade in both directions," he said.

The Prime Minister said he had conveyed to Sirisena India's readiness to promote greater flow of Indian investments and tourists into Sri Lanka.

"We also intend to further improve air and sea connectivity between India and Sri Lanka," he said.

Modi said they discussed expansion of cooperation in energy sector, both conventional and renewable, and that Commerce Secretaries of both the countries will meet soon to review trade ties.

Talking about the Indian assisted projects for internally- displaced persons in Sri Lanka, Modi said they have made excellent progress.

"This includes the Housing Project, under which more than 27,000 houses have already been constructed. The President and I expressed satisfaction with the progress.

"I assured President Sirisena of India's commitment to its development partnership with Sri Lanka. This will continue to cover a broad range of areas, including infrastructure," he said.

Referring to a pact on cultural cooperation, Modi said that like cricket, culture provides a strong bond between the two countries.

"Sri Lankan nationals visit the National Museum in New Delhi in large numbers to pay homage to the Kapilavastu relics. We have decided to reduce the fees for them," he said.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
August 6,2020

Mumbai, Aug 6: Former Reserve Bank of India governor Raghuram Rajan said on Thursday that overly focusing on what sovereign rating agencies think can take one's eyes off what needs to be done for the economy.

"It is also important to convince both domestic and international investors that after the crisis associated with the pandemic is over, we will return to fiscal responsibility over the medium term, and the government should do more to convince them of that," Rajan told the Global Markets Forum.

India was placed under one of the strictest lockdowns in the world in late March for more than two months to stem the spread of the coronavirus, but cases have continued to rise steadily since the government eased restrictions in June, stymieing hopes of an economic recovery.

The government has announced several initiatives to help the poor and small- and medium-size businesses, but actual cash outgo from the government's measures has been estimated at just about 1% of GDP.

Several attribute the fiscal prudence to fear of a downgrade after Moody's cut India's rating and outlook in early June followed closely by a change in outlook from Fitch.

The central bank on its part too has reduced the key lending rate by 115 basis points on top of the 135 bps last year and is widely expected to cut rates by another 25 bps later on Thursday.

"The RBI and government have certainly been cooperating, but it seems like it is elsewhere, the ball is in the government's court to do more," Rajan said.

He said the RBI needs to focus on whether credit is reaching the stressed areas of the economy and also if the viable firms were able to access credit and not the unviable ones.

"And I think that's where it has to focus its attentions, because resources, as you well know, are limited in India today."

Recently analysts, however, have cited the growing possibility the RBI may prefer to pause and cut rates only at its October meeting.

Government officials too have suggested the possibility of any more fiscal stimulus being announced, would only come in the second half of the fiscal year, once a recovery has taken root and coronavirus cases have peaked.

"What India should focus on at this point is protecting its economic capabilities, so that when it has dealt with the virus it can go resume activity in a reasonable way. That should be the focus," Rajan said.

"And if it does that, there is no reason why the rating agencies will not see that as an appropriate policy".

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
Agencies
August 7,2020

New Delhi, Aug 7: India's COVID-19 cases tally crossed 20 lakh mark with the highest single-day spike of 62,538 cases on Friday, said Union Ministry of Health and Family Welfare.

The COVID-19 tally rises to 20,27,075 including 6,07,384 active cases, 13,78,106 cured/discharged/migrated and 41,585 deaths, according to the Ministry of Health.

Maharashtra with 1,46,268 active cases and 3,05,521 cured and discharged patients continues to be the worst affected. The state has also reported 16,476 deaths due to the infection.

Tamil Nadu has 54,184 active cases while 2,14,815 patients have been discharged after treatment in the state. 4,461 deaths have been reported due to COVID-19 in the state.

Andhra Pradesh with 80,426 active cases is the third on the list. There are 1,04,354 cured and discharged patients and 1,681 deaths reported from the state.

Delhi now has 10,072 active cases and 1,26,116 cured and discharged patients. 4,044 people have lost their lives due to the disease in the Union Territory so far. 

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.
News Network
March 23,2020

New Delhi, Mar 23: The total number of COVID-19 cases in the country rose to 390 on Monday after 30 fresh cases were reported.

The figure includes 41 foreign nationals and the seven deaths reported so far.

Gujarat, Bihar and Maharahstra reported a death each on Sunday, while four fatalities were reported earlier from Karnataka, Delhi, Maharashtra and Punjab, the Union Health Ministry said.

The total number of active COVID-19 cases across the country now stands at 359, while 24 people have been cured/discharged/migrated.

Comments

Add new comment

  • Coastaldigest.com reserves the right to delete or block any comments.
  • Coastaldigset.com is not responsible for its readers’ comments.
  • Comments that are abusive, incendiary or irrelevant are strictly prohibited.
  • Please use a genuine email ID and provide your name to avoid reject.