In total 13 agreementsIn total India and China signed 13 agreements. India raised concerns over the standoff at the Line of Actual Control in Ladakh “and repeated incidents” along the border.
In a strong statement, Prime Minister Modi said, “Respect for each other’s sensitivities and concerns, and peace and stability in our relations and along our borders are essential for us to realise the enormous potential in our relations.”
He also urged for the “clarification” or demarcation of the Line of Actual Control and an “early settlement of the boundary question.” President Xi also hoped that the boundary resolution could be resolved “quickly” as he said,
New Delhi to host India-China financial dialogue this year
India and China have agreed to hold the 7th India-China Financial Dialogue this year to enhance cooperation between the financial regulators of the two countries. A joint statement issued during the visit of Chinese President Xi Jinping states that the Indian side approved, in principle, the request of the Bank of China to open a branch in Mumbai.
The leaders agreed to explore new areas for economic cooperation in crosscutting fields including industrial investment, infrastructure development, energy conservation and environment protection, high-tech industry, clean energy and sustainable urbanization
The two sides also agreed to take positive steps towards rebalancing bilateral trade and addressing the existing structural imbalance in trade that has a bearing on its sustainability. Such measures will include cooperation on pharmaceutical supervision including registration, speedier negotiations on agro-products for two-way trade, stronger links between Indian IT companies and Chinese enterprises, and increasing services trade in tourism, films, healthcare, IT and logistics.
India and China also agreed to regular exchange of visits between the Defence Ministries and military leaders, so as to expand pragmatic cooperation in relevant fields. They also agreed to hold the fourth joint army training at a mutually convenient time, hold a Navy/Airforce joint exercise at a proper time, and strengthen cooperation in such areas as peace-keeping, counter-terrorism, naval escort, maritime security, humanitarian rescue, disaster mitigation, personnel training, and think tank communication.
India, China agree to resolve border dispute via 2005 pactIndia and China have decided to resolve their long-standing border dispute according to the Agreement on the Political Parameters and Guiding Principles for the Settlement of the Boundary Question, a pact the two governments had signed in April 2005
Both sides have also decided to start talks on a civil nuclear agreement, to expand their civil nuclear energy programmes.
The 2005 agreement had virtually spelt out the contours of a settlement, taking into account the two sides’ “strategic and reasonable interests”. It had prescribed any settlement “should safeguard due interests of their settled populations in the border areas”.
In a joint statement issued after a meeting between President Pranab Mukherjee and his Chinese counterpart Xi Jinping on 19th September, the two countries said
Both sides have agreed to seek a fair, reasonable and mutually acceptable solution to the border dispute pertaining to the definition of the Line of Actual Control. They have tasked their respective special representatives with reaching political consensus on the issue, under the Working Mechanism for Consultation and Coordination on India-China Border Affairs.
The statement said regular visits into each other’s countries would be undertaken by defence ministries and military leaders of the two countries. Both will explore ways to achieve economic cooperation in new areas to address the rising trade deficit against India. These areas include industrial investment, infrastructure development, energy conservation and environment protection, the high-tech sector, clean energy and sustainable urbanisation.
India and China will also explore ways to establish joint ventures and collaboration in creating smart cities. In this regard, a dialogue mechanism will soon be set up between the finance ministry’s Department of Economic Affairs and China’s Development Research Centre of the State Council. The joint statement also reiterated China would invest $20 billion in India through five years
In a strong statement, Prime Minister Modi said, “Respect for each other’s sensitivities and concerns, and peace and stability in our relations and along our borders are essential for us to realise the enormous potential in our relations.”
He also urged for the “clarification” or demarcation of the Line of Actual Control and an “early settlement of the boundary question.” President Xi also hoped that the boundary resolution could be resolved “quickly” as he said,
New Delhi to host India-China financial dialogue this year
India and China have agreed to hold the 7th India-China Financial Dialogue this year to enhance cooperation between the financial regulators of the two countries. A joint statement issued during the visit of Chinese President Xi Jinping states that the Indian side approved, in principle, the request of the Bank of China to open a branch in Mumbai.
The leaders agreed to explore new areas for economic cooperation in crosscutting fields including industrial investment, infrastructure development, energy conservation and environment protection, high-tech industry, clean energy and sustainable urbanization
The two sides also agreed to take positive steps towards rebalancing bilateral trade and addressing the existing structural imbalance in trade that has a bearing on its sustainability. Such measures will include cooperation on pharmaceutical supervision including registration, speedier negotiations on agro-products for two-way trade, stronger links between Indian IT companies and Chinese enterprises, and increasing services trade in tourism, films, healthcare, IT and logistics.
India and China also agreed to regular exchange of visits between the Defence Ministries and military leaders, so as to expand pragmatic cooperation in relevant fields. They also agreed to hold the fourth joint army training at a mutually convenient time, hold a Navy/Airforce joint exercise at a proper time, and strengthen cooperation in such areas as peace-keeping, counter-terrorism, naval escort, maritime security, humanitarian rescue, disaster mitigation, personnel training, and think tank communication.
India, China agree to resolve border dispute via 2005 pactIndia and China have decided to resolve their long-standing border dispute according to the Agreement on the Political Parameters and Guiding Principles for the Settlement of the Boundary Question, a pact the two governments had signed in April 2005
Both sides have also decided to start talks on a civil nuclear agreement, to expand their civil nuclear energy programmes.
The 2005 agreement had virtually spelt out the contours of a settlement, taking into account the two sides’ “strategic and reasonable interests”. It had prescribed any settlement “should safeguard due interests of their settled populations in the border areas”.
In a joint statement issued after a meeting between President Pranab Mukherjee and his Chinese counterpart Xi Jinping on 19th September, the two countries said
Both sides have agreed to seek a fair, reasonable and mutually acceptable solution to the border dispute pertaining to the definition of the Line of Actual Control. They have tasked their respective special representatives with reaching political consensus on the issue, under the Working Mechanism for Consultation and Coordination on India-China Border Affairs.
The statement said regular visits into each other’s countries would be undertaken by defence ministries and military leaders of the two countries. Both will explore ways to achieve economic cooperation in new areas to address the rising trade deficit against India. These areas include industrial investment, infrastructure development, energy conservation and environment protection, the high-tech sector, clean energy and sustainable urbanisation.
India and China will also explore ways to establish joint ventures and collaboration in creating smart cities. In this regard, a dialogue mechanism will soon be set up between the finance ministry’s Department of Economic Affairs and China’s Development Research Centre of the State Council. The joint statement also reiterated China would invest $20 billion in India through five years
India inks free trade agreement with ASEAN
On 8th September, the Government of India signed the long-pending pact on services, trade and investment with the Association of Southeast Asian Nations (ASEAN). This will mean more market access to the 10 countries in the bloc for our professionals. India and ASEAN already have a free trade agreement (FTA) on goods; which took effect in 2010.
Once the FTA in services and investment gets ratified, the entire set of pacts will become a Comprehensive Economic Partnership Agreement. Nine of the 10 ASEAN countries have signed the deal but not the Philippines, due to domestic reasons. To become operational, all 10 must sign it and all the respective legislatures must ratify it. So, for that matter, must India’s Parliament.
ASEAN‘s members are Singapore, Malaysia, Thailand, Myanmar, Vietnam, Indonesia, the Philippines, Brunei, Cambodia and Laos.
The agreement on goods has not been ratified by all ASEAN members. The government had come under attack recently over the deal for the lack of increase in our exports to the region, while imports from many ASEAN member-states such as Singapore, Malaysia, Thailand and Indonesia have been rising.
Under the goods FTA, ASEAN countries and India had decided to lift import tariffs on a little more than 80 per cent of traded products by 2016. The FTA collectively covers a market of nearly 1.8 billion people and proposes to gradually slash tariffs for over 4,000 product lines.
ASEAN:
The Association of Southeast Asian Nations is a political and economic organization of ten countries located in Southeast Asia, which was formed on 8 August 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand. Since then, membership has expanded to include Brunei, Cambodia, Laos, Myanmar (Burma) and Vietnam. Its aims include accelerating economic growth, social progress, sociocultural evolution among its members, protection of regional peace and stability, and opportunities for member countries to discuss differences peacefully
On 8th September, the Government of India signed the long-pending pact on services, trade and investment with the Association of Southeast Asian Nations (ASEAN). This will mean more market access to the 10 countries in the bloc for our professionals. India and ASEAN already have a free trade agreement (FTA) on goods; which took effect in 2010.
Once the FTA in services and investment gets ratified, the entire set of pacts will become a Comprehensive Economic Partnership Agreement. Nine of the 10 ASEAN countries have signed the deal but not the Philippines, due to domestic reasons. To become operational, all 10 must sign it and all the respective legislatures must ratify it. So, for that matter, must India’s Parliament.
ASEAN‘s members are Singapore, Malaysia, Thailand, Myanmar, Vietnam, Indonesia, the Philippines, Brunei, Cambodia and Laos.
The agreement on goods has not been ratified by all ASEAN members. The government had come under attack recently over the deal for the lack of increase in our exports to the region, while imports from many ASEAN member-states such as Singapore, Malaysia, Thailand and Indonesia have been rising.
Under the goods FTA, ASEAN countries and India had decided to lift import tariffs on a little more than 80 per cent of traded products by 2016. The FTA collectively covers a market of nearly 1.8 billion people and proposes to gradually slash tariffs for over 4,000 product lines.
ASEAN:
The Association of Southeast Asian Nations is a political and economic organization of ten countries located in Southeast Asia, which was formed on 8 August 1967 by Indonesia, Malaysia, the Philippines, Singapore and Thailand. Since then, membership has expanded to include Brunei, Cambodia, Laos, Myanmar (Burma) and Vietnam. Its aims include accelerating economic growth, social progress, sociocultural evolution among its members, protection of regional peace and stability, and opportunities for member countries to discuss differences peacefully
India vowed $100 mn for port in IranIndia has earmarked $100 million for up gradation of Chabahar port in Iran so as to improve trade with Afghanistan and other Central Asian countries
Japan pledges $35 b for infra projects in IndiaPledging to enhance bilateral cooperation, Japan on 1st September promised $35-billion assistance to India for the next five years towards funding next generation infrastructure projects, smart cities, rejuvenation of the Ganga and introduction of bullet trains.
Japanese funding will also be made available for public-private partnership (PPP) projects in the fields of manufacturing, clean energy, skill development, water security, food processing and agro industry, agricultural cold chain and rural development. This was stated in a joint statement after a summit meeting between Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe.
Japan also promised to help India build a high-speed railway based on the ‘Shinkansen system’ for the Ahmadabad-Mumbai route
Civil nuclear dealIndia and Japan agreed to enhance their defense and strategic cooperation to a new level. They have decided to speed up negotiations. While agreeing on greater defense equipment and technology cooperation, the two sides decided to expedite discussions on modalities for the sale of Japanese US-2 amphibian aircraft.
Japanese funding will also be made available for public-private partnership (PPP) projects in the fields of manufacturing, clean energy, skill development, water security, food processing and agro industry, agricultural cold chain and rural development. This was stated in a joint statement after a summit meeting between Prime Minister Narendra Modi and his Japanese counterpart Shinzo Abe.
Japan also promised to help India build a high-speed railway based on the ‘Shinkansen system’ for the Ahmadabad-Mumbai route
Civil nuclear dealIndia and Japan agreed to enhance their defense and strategic cooperation to a new level. They have decided to speed up negotiations. While agreeing on greater defense equipment and technology cooperation, the two sides decided to expedite discussions on modalities for the sale of Japanese US-2 amphibian aircraft.
Indo-French initiative to forecast monsoon betterIn a bid to predict the monsoon better than extant systems, India and France will launch a joint initiative by the year-end, according to the Ministry of Earth Sciences (MoES).
A final decision on the joint effort will be taken during talks between the two countries in October and the project will be launched in December, MoES Secretary Shailesh Nayak said. Speaking on the sidelines of a workshop on climate change and monsoon organized by INCOIS and ESSO-IITM here on Monday, Dr. Nayak said eight more countries were interested in joining the initiative.
A final decision on the joint effort will be taken during talks between the two countries in October and the project will be launched in December, MoES Secretary Shailesh Nayak said. Speaking on the sidelines of a workshop on climate change and monsoon organized by INCOIS and ESSO-IITM here on Monday, Dr. Nayak said eight more countries were interested in joining the initiative.
Modi’s visit to JapanPrime Minister Narendra Modi has said that India is replacing red tape with red carpet. Modi spoke at five events, including at a women’s university, the India-Japan Association and a Nikkei-organized gathering.
To Indians abroad, he advocated eating one meal together as a way of building family bonds and speaking in the mother tongue at the dining table.
He said in a seminar organized by the Japan External Trade Organization (Jetro) and Nikkei, Mr. Modi said India was attractive to Japan on account of three Ds — democracy, demography and demand. Modi said that 50 cities in India were in line to get new metro projects.
He said that several key decisions had been taken in the first 100 days of his government. Fifty-five per cent items had been freed from legal obligations as far as defense manufacturing was concerned. If Japan entered the defence manufacturing sector, where 49% FDI is now permitted, Tokyo could supply the needs of other small countries as well.
To Indians abroad, he advocated eating one meal together as a way of building family bonds and speaking in the mother tongue at the dining table.
He said in a seminar organized by the Japan External Trade Organization (Jetro) and Nikkei, Mr. Modi said India was attractive to Japan on account of three Ds — democracy, demography and demand. Modi said that 50 cities in India were in line to get new metro projects.
He said that several key decisions had been taken in the first 100 days of his government. Fifty-five per cent items had been freed from legal obligations as far as defense manufacturing was concerned. If Japan entered the defence manufacturing sector, where 49% FDI is now permitted, Tokyo could supply the needs of other small countries as well.
GMR inks MoU with Japanese bankThe GMR Infrastructure Limited signed a MoU with Japan Bank for International Cooperation (JBIC) for providing financial assistance to Japanese companies investing in Infrastructure projects of GMR Group. The MoU was executed during the course of Prime Minister Narendra Modi’s visit to Japan.
TCS training programme startedPrime Minister Narendra Modi, on 2nd September, flagged off a new training programme for Tata Consultancy Services trainee graduates in Japan by inaugurating the TCS Japan Technology and Culture Academy. The first batch of 48 TCS Japan trainees will proceed to India to undergo training for six-to-eight weeks at various TCS locations.
In April this year, TCS and Mitsubishi Corp announced that it was merging its IT operations in Japan to create a new global-scale player in the Japanese IT industry, with TCS having a 51 per cent stake in the new venture ‘Tata Consultancy Services Japan’.
India-Japan relations overview
In April this year, TCS and Mitsubishi Corp announced that it was merging its IT operations in Japan to create a new global-scale player in the Japanese IT industry, with TCS having a 51 per cent stake in the new venture ‘Tata Consultancy Services Japan’.
India-Japan relations overview
India and Japan trade and economic partnership has been under-performing, belying the promise and potential. Bilateral trade at $16.29 billion in 2013-14 accounted for just 2.13 per cent of India’s total trade and barely 1 per cent of Japan’s.
The low-profile trade relationship is especially disappointing considering how much Japan has to offer in terms of investment and technology, and how much India needs both. India may be one of the largest recipients of Japanese ODA (Official Development Assistance), but when it comes to foreign direct investment (FDI), it ranks low, well behind China.
Between April 2000 and February 2014, Japanese companies cumulatively invested $15.97 billion in India, accounting for just 7.46 per cent of total FDI inflows into India, which in a way epitomises the state of the economic relationship between the second and third largest economies of Asia.
Ever since India liberalised in the early 1990s, there has been steady interest among Japanese companies and investors — but they have often been frustrated by complicated procedures and cumbersome processes. Actually, Japanese companies willingly ceded market space in India to competitors from South Korea and China rather than deal with the red tape.
China to develop industrial parksChina will set up two industrial parks in India, one each in Gujarat and Maharashtra, and the two countries are expected to sign agreements for this soon.
Chinese Consul-General in Mumbai, Liu Youfa, told that a park would come up near Pune on about 5 sq. km and another near Ahmadabad on about 10 sq. km. The park in Maharashtra will be focussed on automobile sector and that in Gujarat on the power sector. The Pune Park will be completed in about 12 years in three stages and is likely to see total investment of $5 billion. The first phase will be completed in three years.
Bilateral trade between the two countries during the first three quarters of this year (2014) is expected to be nearly $56 billion. In order to adjust the trade imbalance, there should be more two-way investments. China’s direct investments in India were to the tune of $1 billion and Indian investment in China was $4 billion, he said.
Chinese Consul-General in Mumbai, Liu Youfa, told that a park would come up near Pune on about 5 sq. km and another near Ahmadabad on about 10 sq. km. The park in Maharashtra will be focussed on automobile sector and that in Gujarat on the power sector. The Pune Park will be completed in about 12 years in three stages and is likely to see total investment of $5 billion. The first phase will be completed in three years.
Bilateral trade between the two countries during the first three quarters of this year (2014) is expected to be nearly $56 billion. In order to adjust the trade imbalance, there should be more two-way investments. China’s direct investments in India were to the tune of $1 billion and Indian investment in China was $4 billion, he said.
Reliance Foundation, University of Chicago join handsReliance Foundation, the philanthropic arm of Reliance Industries, and theUniversity of Chicago have announced a collaboration to develop innovative technology that will help train medical students and clinicians for better diagnosis and improved healthcare.
The partnership will develop cloud-based software applications that can train medical professionals using case studies written by experienced physicians and state-of-the-art clinical reasoning methods
The collaboration is also supporting doctors in real time with evidence-based clinical decision-making tools.
The partnership will develop cloud-based software applications that can train medical professionals using case studies written by experienced physicians and state-of-the-art clinical reasoning methods
The collaboration is also supporting doctors in real time with evidence-based clinical decision-making tools.
New Colombo Plan to get more Oz students to IndiaThe New Colombo Plan, which supports Australian undergraduates to study and undertake internships in the Indo-Pacific region, was on 4th September launched by Tony Abbott, Prime Minister of Australia.
A series of memoranda of understanding between Indian and Australian institutes were also signed — between Mumbai University and Deakin University for short-term programmes; Calcutta University and the University of Western Sydney; BSE Institute and the University of Western Sydney; and the Indian Institute of Technology-Madras and the Swinburne University of Technology, among others.
The New Colombo Plan involves a scholarship programme for study of up to one year and internships or mentorships, and a flexible mobility grants programme for short- and long-term courses, internships, mentorships, practicums (practical section of a course of study) and research. It is open to Australian undergraduates aged 18-28.
The New Colombo Plan intends to encourage two-way flow of students in the region. The Australian government has committed $100 million over five years to the plan.
A 2014 pilot phase currently supports around 1,300 mobility programme students and 40 scholarship holders for courses in Indonesia, Japan, Singapore and Hong Kong. Next year, based on the response, this plan will be expanded to cover India and others, and up to 40 scholarships would be awarded to allow Australian students spend a year at Asian institutions.
In 2015, the plan aims to support approximately 60 scholarships and provide around $8 million in mobility grants for Australian undergraduate students.
A series of memoranda of understanding between Indian and Australian institutes were also signed — between Mumbai University and Deakin University for short-term programmes; Calcutta University and the University of Western Sydney; BSE Institute and the University of Western Sydney; and the Indian Institute of Technology-Madras and the Swinburne University of Technology, among others.
The New Colombo Plan involves a scholarship programme for study of up to one year and internships or mentorships, and a flexible mobility grants programme for short- and long-term courses, internships, mentorships, practicums (practical section of a course of study) and research. It is open to Australian undergraduates aged 18-28.
The New Colombo Plan intends to encourage two-way flow of students in the region. The Australian government has committed $100 million over five years to the plan.
A 2014 pilot phase currently supports around 1,300 mobility programme students and 40 scholarship holders for courses in Indonesia, Japan, Singapore and Hong Kong. Next year, based on the response, this plan will be expanded to cover India and others, and up to 40 scholarships would be awarded to allow Australian students spend a year at Asian institutions.
In 2015, the plan aims to support approximately 60 scholarships and provide around $8 million in mobility grants for Australian undergraduate students.
India signs civil nuclear agreement with AustraliaThe Union Government on 5th September signed a civil nuclear agreement with Australia to address India’s growing need for power.
The deal, signed in the presence of Indian Prime Minister Modi and visiting Australian Prime Minister Tony Abbott, officially marked an end to the ban imposed by Australia on selling uranium to India. The ban was lifted in 2012, when talks for the nuclear deal began.
This will be the first such deal signed by the NDA government. India has similar agreements with the US, Canada, the UK, South Korea and France, among other countries.
The memorandum of understanding (MoU) for the deal, Cooperation in the Peaceful Uses of Nuclear Energy, was signed between R K Sinha, secretary, department of atomic energy, and Patrick Suckling, Australia’s high commissioner to India, following a meeting of the two prime ministers.
The agreement will promote cooperation in peaceful uses of nuclear energy. It recognises India’s commitment and use of nuclear energy with a view to achieving sustainable development and strengthening energy security. Australia can play the role of a long-term reliable supplier of uranium to India. It provides for supply of uranium, production of radio isotopes, nuclear safety and other areas of cooperation the MoU stated.
Both sides also signed a parallel nuclear safeguards agreement, as India isn’t a signatory to the Nuclear Non-Proliferation Treaty.
This was also the case when India had signed a civil nuclear deal with Canada Australia has about 40 per cent of global uranium reserves, of which it exports about 20 per cent, making it one of the largest exporters of the commodity. It doesn’t have any nuclear power plants of its own.
However, uranium supplies from Australia, which stands to earn billions of dollars through such shipments, to India could be limited because of Australia’s domestic laws.
Besides, it might take four-five years for the shipments to start. According to Australian rules, uranium mining is limited to only a few mines and most are bound by long-terms contracts.
India has 21 operational nuclear power reactors, across six power plants, with an installed capacity of 5,302 Mw; these produce 29,664.75 GWh of electricity. Seven more reactors, under construction, are expected to generate an additional 6,100 Mw, according to official statistics.
The deal, signed in the presence of Indian Prime Minister Modi and visiting Australian Prime Minister Tony Abbott, officially marked an end to the ban imposed by Australia on selling uranium to India. The ban was lifted in 2012, when talks for the nuclear deal began.
This will be the first such deal signed by the NDA government. India has similar agreements with the US, Canada, the UK, South Korea and France, among other countries.
The memorandum of understanding (MoU) for the deal, Cooperation in the Peaceful Uses of Nuclear Energy, was signed between R K Sinha, secretary, department of atomic energy, and Patrick Suckling, Australia’s high commissioner to India, following a meeting of the two prime ministers.
The agreement will promote cooperation in peaceful uses of nuclear energy. It recognises India’s commitment and use of nuclear energy with a view to achieving sustainable development and strengthening energy security. Australia can play the role of a long-term reliable supplier of uranium to India. It provides for supply of uranium, production of radio isotopes, nuclear safety and other areas of cooperation the MoU stated.
Both sides also signed a parallel nuclear safeguards agreement, as India isn’t a signatory to the Nuclear Non-Proliferation Treaty.
This was also the case when India had signed a civil nuclear deal with Canada Australia has about 40 per cent of global uranium reserves, of which it exports about 20 per cent, making it one of the largest exporters of the commodity. It doesn’t have any nuclear power plants of its own.
However, uranium supplies from Australia, which stands to earn billions of dollars through such shipments, to India could be limited because of Australia’s domestic laws.
Besides, it might take four-five years for the shipments to start. According to Australian rules, uranium mining is limited to only a few mines and most are bound by long-terms contracts.
India has 21 operational nuclear power reactors, across six power plants, with an installed capacity of 5,302 Mw; these produce 29,664.75 GWh of electricity. Seven more reactors, under construction, are expected to generate an additional 6,100 Mw, according to official statistics.
Under the nuclear power generation programme, India hopes to increase its nuclear capacity to 63,000 Mw by 2032 by adding about 30 reactors, at an estimated cost of $85 billion.
The civil nuclear co-operation pact with Australia will give a fillip to India’s nuclear power generation programme.
The country currently generates 4,780 MW from six nuclear plants
Share of electricity from nuclear power plants is only 3.14 per cent of the total electricity generation capacity of 249,488 GW as of June 30, falling from 3.68 per cent in 2011-12.
India currently gets uranium from France, Russia, Kazakhstan and Uzbekistan and has total requirement of around 1,000 tonne a year.
According to the World Nuclear Organization almost half of the Australian reserves are in the under $80/kg price category. This is due to the easier extraction of the mineral from the mines there.
Electricity tariffs from nuclear power plants are cheaper than most coal-based plants in India. But, the low generation capacity in India means that in the short term, the nuclear power sector is unlikely to be the answer for the country’s demand for cheap electricity.
According to the Department of Atomic Energy4, the maximum tariff from nuclear plants is Rs 3.41 per unit while the minimum tariff is Rs 0.95 per unit.
This is almost comparable to coal-based plants at the mine pit head, which have a maximum and minimum tariff of Rs 3.19 per unit and Rs 0.87 per unit, respectively.
Non-pit head based plants have even higher tariff with the maximum being Rs 5.29 per unit and minimum being Rs 3.32 per unit.
Even hydro power plants produce costlier electricity. The maximum and minimum tariff from hydro plants are Rs 5.77 per unit and Rs 0.86 per unit, respectively.
But with generation only at 34,277 gigawatt hours (GWH) in 2013-14, as compared total generation of 967150 GWH, nuclear power provides only a small portion of India’s electricity requirement.
Australian uranium to be used in reactors under IAEA safeguardsA day after it signed nuclear cooperation deal with Australia, India on 6th September said it will use the fuel procured through this deal for reactors that are under the UN watchdog, International Atomic Energy Agency (IAEA) safeguards.
Secretary, Department of Atomic Energy, Ratan Kumar Sinha said that Australian uranium or fuel procured through any international cooperation would be used in reactors, which were under IAEA safeguards, as per the Indo-US nuclear cooperation agreement.
He also reiterated that India will not sign Non-Proliferation Treaty (NPT).
The DAE Secretary said under the Indo-US civil nuclear deal, there is a separation plan and some facilities have been under IAEA safeguards. These facilities are eligible for international supply of uranium.
What is IAEA? The IAEA is the world's center of cooperation in the nuclear field. It was set up as the world´s "Atoms for Peace" organization in 1957 within the United Nations family. The Agency works with its Member States and multiple partners worldwide to promote safe, secure and peaceful nuclear technologies.
The IAEA Secretariat is headquartered at the Vienna International Centre in Vienna, Austria. Operational liaison and regional offices are located in Geneva, Switzerland; New York, USA; Toronto, Canada; and Tokyo, Japan. The IAEA runs or supports research centers and scientific laboratories in Vienna and Seibersdorf, Austria; Monaco; and Trieste, Italy.
Secretary, Department of Atomic Energy, Ratan Kumar Sinha said that Australian uranium or fuel procured through any international cooperation would be used in reactors, which were under IAEA safeguards, as per the Indo-US nuclear cooperation agreement.
He also reiterated that India will not sign Non-Proliferation Treaty (NPT).
The DAE Secretary said under the Indo-US civil nuclear deal, there is a separation plan and some facilities have been under IAEA safeguards. These facilities are eligible for international supply of uranium.
What is IAEA? The IAEA is the world's center of cooperation in the nuclear field. It was set up as the world´s "Atoms for Peace" organization in 1957 within the United Nations family. The Agency works with its Member States and multiple partners worldwide to promote safe, secure and peaceful nuclear technologies.
The IAEA Secretariat is headquartered at the Vienna International Centre in Vienna, Austria. Operational liaison and regional offices are located in Geneva, Switzerland; New York, USA; Toronto, Canada; and Tokyo, Japan. The IAEA runs or supports research centers and scientific laboratories in Vienna and Seibersdorf, Austria; Monaco; and Trieste, Italy.
Collaboration in healthcareAustralia on 5th September announced the extension of the Australia-India Strategic Research Fund (AISRF) for a further four years and also pledged Australian dollars (AUD) 20 million for the initiative. Australian Prime Minister Tony Abbott made the announcement after a visit to the Jai Prakash Narayan Apex Trauma Centre at AIIMS on 5th September.
The two countries will also cooperate in the areas of a potential malaria vaccine which has been supported by the strategic research partnership. Australian and Indian governments have joined hands through the Australia-India Strategic Research Fund Grand Challenge Scheme to find the best ways of treating injured people.
India and Australia will collaborate in the areas of preventive healthcare, trauma care, geriatric medicine, diabetes research and mental illnesses; this was decided at a meeting between Mr. Abbott and the Union Health Minister Harsh Vardhan.
The two countries will also cooperate in the areas of a potential malaria vaccine which has been supported by the strategic research partnership. Australian and Indian governments have joined hands through the Australia-India Strategic Research Fund Grand Challenge Scheme to find the best ways of treating injured people.
India and Australia will collaborate in the areas of preventive healthcare, trauma care, geriatric medicine, diabetes research and mental illnesses; this was decided at a meeting between Mr. Abbott and the Union Health Minister Harsh Vardhan.
Japan seeks exemption from MAT for its companies in IndiaJapan has asked India to at once exempt Japanese manufacturers operating in India from withholding and Minimum Alternate Tax (MAT). Minister, Embassy of Japan, Isomata Akio, on 4th September, asked for this country-specific concession. He said he was raising the demand in view of Japan’s commitment to pledging investments worth Rs.2-lakh crore in India over the next five years. He also said that if MAT continued to be slapped on the Indian subsidiaries of Japanese companies it could hinder Japanese investments into India.
For Indian companies, the MAT rate is 19.06 per cent of profits or if education cess and surcharge are applicable then the rate goes up to 20.01 per cent. The rate of MAT for foreign companies is 19.06 per cent and where education cess and surcharge are applicable it is 19.44 per cent.
Two-way annual trade between the two countries was $16.31 billion as on March 31, 2014, down from $18.5 billion in the previous year. Japanese exports to India fell 23 per cent in 2013-14.
For Indian companies, the MAT rate is 19.06 per cent of profits or if education cess and surcharge are applicable then the rate goes up to 20.01 per cent. The rate of MAT for foreign companies is 19.06 per cent and where education cess and surcharge are applicable it is 19.44 per cent.
Two-way annual trade between the two countries was $16.31 billion as on March 31, 2014, down from $18.5 billion in the previous year. Japanese exports to India fell 23 per cent in 2013-14.
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