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.

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News Network
February 21,2020

Washington, Feb 21: Days ahead of his India visit, US President Donald Trump on Thursday said the two countries could make a "tremendous" trade deal.

"We're going to India, and we may make a tremendous deal there," Trump said in his commencement address at the Hope for Prisoners Graduation Ceremony in Las Vegas.

Trump, accompanied by First Lady Melania Trump, is scheduled to travel to Ahmedabad, Agra and New Delhi on February 24 and 25.

Ahead of the visit, there have been talks about India and the United States agreeing on a trade package as a precursor to a major trade deal.

During his commencement address, Trump indicated that the talks on this might slowdown if he did not get a good deal.

"Maybe we'll slow down. We'll do it after the election. I think that could happen too. So, we'll see what happens," he said.

"But we're only making deals if they're good deals because we're putting America first. Whether people like it or not, we're putting America first," Trump said.

Bilateral India-US trade in goods and services is about three per cent of the US' world trade.

In a recent report, the Congressional Research Service (CRS) said the trading relationship is more consequential for India -- in 2018 the United States was its second largest goods export market (16.0 per cent share) after the European Union (EU, 17.8 per cent), and third largest goods import supplier (6.3 per cent) after China (14.6 per cent) and the EU 28 (10.2 per cent).

"The Trump Administration takes issue with the US trade deficit with India, and has criticised India for a range of 'unfair' trading practices," the CRS said.

"Indian Prime Minister Modi's first term fell short of many observers' expectations, as India did not move forward with anticipated market opening reforms, and instead increased tariffs and trade restrictions," it said.

"Modi's strong electoral mandate may embolden the Indian government to press ahead with its reform agenda with greater vigour. Slowing economic growth in India raises concerns about its business environment," CRS said.

As per a fact sheet issued by the Council on Foreign Relations (CFR), trade in goods and services between the two countries from 1999 to 2018 surged from $16 billion to $142 billion.

India is now the United States' eighth-largest trading partner in goods and services and is among the world's largest economies.

India's trade with the United States now resembles, in terms of volume, the US' trade with South Korea ($167 billion in 2018) or France ($129 billion), said Alyssa Ayres from CFR.

"The United States for two years now has set out in stone pretty clearly the things that they wanted to see to try to get an agreement, and it's basically then on India's doorstep on whether they want to take those steps," Rick Rossow, Wadhwani Chair in US-India Policy Studies at the Center for Strategic and International Studies think-tank told reporters during a conference call.

"The list of US asks has been pretty static all throughout. Not to say that any of these things are easy for India to do, but the United States to my knowledge didn't change the goalposts just because we now consider India to be a middle-income country. The things that we wanted to see happen to get this trade agreement have been pretty static all throughout, no matter how difficult they are," he said in response to a question.

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Agencies
July 2,2020

New Delhi, Jul 2: In the midst of India's tense border standoff with China, the defence ministry on Thursday approved procurement of a number of frontline fighter jets, missile systems and other platforms at a cost of Rs 38,900 crore to bolster the combat capability of the armed forces, officials said.

They said 21 MiG-29 fighter jets are being bought from Russia while 12 Su-30 MKI aircraft will be procured from Russia. The ministry has also approved a separate proposal to upgrade existing 59 MiG-29 aircraft.

The decisions were taken at a meeting of the Defence Acquisition Council (DAC) chaired by Defence Minister Rajnath Singh.

The procurement of 21 MiG-29 and upgrading of the existing fleet of MiG-29 are estimated to cost the government Rs 7,418 crore while purchase of 12 new Su-30 MKI from the Hindustan Aeronautics Ltd will be made at a cost of Rs 10,730 crore, the officials said.

The DAC also approved procurement of long-range land-attack cruise missile systems with a range of 1,000 KM and Astra Missiles for Navy and Air Force.

The officials said cost of these design and development proposals is in the range of Rs 20,400 crore.

"While acquisition of Pinaka missile systems will enable raising additional regiments over and above the ones already inducted, addition of long-range land attack missile systems having a firing range of 1000 KM to the existing arsenal will bolster the attack capabilities of the Navy and the Air Force," said a defence ministry official.

"Similarly induction of Astra Missiles having beyond visual range capability will serve as a force multiplier and immensely add to the strike capability of the Indian Navy and the Indian Air Force," he said.

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News Network
June 26,2020

New Delhi, Jun 26: Petrol prices in the national capital have reached Rs 80.13 per litre on June 26, up by 21 paise from yesterday’s Rs 79.92 per litre; while diesel prices in Delhi also rose to Rs 80.19 per litre – up by 17 paise compared to yesterday’s Rs 80.02 per litre.

This is the 20th consecutive day that fuel prices have been hiked by oil marketing companies (OMCs). The hikes began from June 8 after a 83-day halt on revised pricing during the lockdown period.

The state government’s increased value-added tax (VAT) on diesel since May is causing the fuel’s prices to soar in Delhi. VAT was increased to 30 percent for both petrol and diesel from 27 percent and 16.75 percent, respectively.

Coupled with the Centre’s hiked excise duty of Rs 3 per litre since March 14 and then Rs 10 per litre on petrol and Rs 13 per litre on diesel since May 5 has affected prices.

The hike on diesel prices is unusual, as the government traditionally keeps the price for the fuel low due to its impact on agriculture and other high consumption economic activities.

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