India, US ink new 10-year Defence Framework Agreement

India and United States (US) have signed a new strategically important 10-year defence framework agreement on 3 June 2015. The agreement was signed between Union Defence Minister Manohar Parrikar and visiting US Defence Secretary Dr. Ashton Carter in New Delhi. ..

Month: Current Affairs - June, 2015

India, Japan ink action agenda to boost trade, investment

India and Japan have signed a Five-point action agenda to increase bilateral trade and investment between the two nations. The action agenda was signed between Japan’s Minister for Economy, Trade and Industry Yoichi Miyazawa and Minister of State (independent charge) ..

Month: Current Affairs - April, 2015

Union Government approves 17 Mega Food Parks for food processing across the country

Union Government has approved 17 mega food parks for food processing across the country. It was announced by Union Cabinet Minister of Food Processing Harsimrat Kaur Badal. Out of these 17 food parks, 7 parks have been allotted to state agencies ..

Month: Current Affairs - March, 2015

Import Substitution

Import substitution is an aggressive economic policy employed by emerging economies to promote domestic production and self-sufficiency in many sectors. It is also seen as a means to reduce dependency on developed nations. IS seeks to provide added protection to ..

India and Spain sign agreement on Mutual Protection of Classified Information

India and Spain have signed an agreement on Mutual Protection of Classified Information. This agreement provides the framework for enhanced cooperation in the defence sector between both countries. Mutual Protection of Classified Information is a primary pact that a country ..

Month: Current Affairs - March, 2015

Challenges to the defence procurement

India is having the 3rd largest armed forces of the world, with an annual budget of US$ 38 billion and 40% of this is used for capital acquisition. In the next 7-8 years this budget would be increased to around ..