India reacts to Maldives on GMR issue
India has conveyed to Maldives that it expected no arbitrary and coercive action should be taken pending the outcome of legal proceedings over the issue and warned that any such action would have serious consequences for bilateral relations.
What is GMR issue?
GMR is an Indian infrastructure major which was given an over $ 500 million contract by Maldivian government ruled by Mohamed Nasheed to upgrade its Male airport and build a new airport terminal. However, the current govt under Mohamed Waheed Hassan Manik scrapped the contract. Following the termination, GMR had approached the Singapore High Court which had stayed the scrapping of contract. However, the Maldives government remained defiant and asserted that it would take over the airport from GMR.
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Month: Current Affairs - December, 2012
Category: Awards, Honours & Persons in News