President Trump visit to India: 2 MoUs and 1 Letter of Cooperation signed
On February 24, 2020, the US President Donald Trump visited India along with his wife Melania Trump. On the sidelines of his visit, agreements were signed in the field of health, oil and defence.
In the Defence Sector, 3 billion USD worth deal was signed to buy helicopters. The Memorandum of Understandings were signed in the field of oil and health. In the field of health, Central Drugs Standard Control Organization and the US Food and Drug Administration signed agreements over the safety of medical products.
Significance of MoU with USFDA
It is essential to be on good equations with the USFDA and also abide by its regulations. This is because, the pharmaceutical exports to USA require USFDA certification. And US is the top export destination of Pharmaceuticals for India. In 2018-19, around 5820 million USD worth pharmaceuticals were exported to US from India.
The signing of this MoU will help the pharmaceuticals increase their exports to US.
An MoU was also signed between the mental health departments of the countries. The countries also signed a letter of cooperation in the field of Oil.
Category: International Current Affairs