TNPSC Current Affairs 2016 November 18
1. India and US review its Military Projects, M777 Howitzers to be signed soon
India and US reviewed the entire gamut of projects under the foreign military sales route as both sides look at closing key projects which includes the purchase of M777 Howitzers.
Defence sources said that the deal is for 145 American Ultra-Light Howitzers which has been cleared by Cabinet Committee on Security. Defense personnal also discused to by 22 Predator Guardian drones.
India also sent letter to US on interest to buying guns which is deployed in high latitude in Arunachal pradesh, Ladakh. US also accepted and will send the 25 guns in Flying condition and rest will assemble in India.
The First 2 Howitzer will be delivered in another 6 months and rest will be delivered at rate one per month.
2. Bhutan's National Council disallowing BBIN 's Motor Vehicles Agreement (MVA).
Bhutan National Council Disallowing BBIN (Bangladesh, Bhutan, India and Nepal) Motor Vehicles Agreement. India hopes Bhutan to join the group at an early date.
Bhutan's lower house had cleared the bill and passed it to Upper house (National council) in July 2016 with the hope of passed it by year end. but the National Council has defeated the 'Motor Vehicles Agreement' by proposition 13 votes to 2.
About Motor Vehicles Agreement:
It is an agreement between sub SAARC nation including Bangladesh, Bhutan, India and Nepal (BBIN) for seamless movement of Passenger, Personal and Cargo among the neighbors which will benefit and integration of the region and its economic development.
It is signed on June 2015 between Bangladesh, Bhutan, India and Nepal in Thimpu Bhutan.
3. Israel Seeks Free trade agreement with India.
Israel President Reuven Rivlin expressing hope for Free Trade Agreement with India. He said that Official Israeli hope that his visit will pay way for Free Trade Agreement which will boost economic of both the countries.
Israel President Reuven Rivlin also said that Israel wishes to partner in India's Clean Ganga Project and solar energy sector.
What is Free trade Agreement(FTA)?.
FTA which involves cooperation between at least 2 countries to reduce it trade barrier, like import quotas and tarrifs . It will help to increase trade of Goods and services between 2 countries
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