Nirmala Sitaraman Current Affairs - 2019

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India-US Economic and Financial Partnership Meeting held

The 7th India-US Economic and Financial partnership meeting was held in New Delhi. It was Co-chaired by Finance Minister Nirmala Seetharaman and US Secretary Steven T Minuchin. The leaders took efforts to improve mutual cooperation on wide range of multilateral subjects. It included combating financing of terrorism and anti-money laundering.

Highlights

  • India and US discussed policies related to stimulate economic growth
  • The countries noted significant steps taken by India to strengthen financial sector that includes
    • Plans to merge state-owned banks
    • PSB recapitalization plans
  • Both the sides also discussed capital flows, external economic environment and investment promotion related issues
  • The US offered its support to stand by India for its Presidency of G20 summit in 2022.
  • The Financial Regulatory Dialogue was also held alongside where the financial regulatory developments in both the sides were discussed
  • In 2017, the US helped the Indian city Pune by financing governmental needs in support of government’s Smart City initiative.

 

India, Morocco agree to enhance bilateral cooperation in field of defence and security

India and Morocco have agreed to enhance bilateral cooperation in the field of defence and security. Decision in this regard was taken at meeting between Moroccan Defence Minister Abdeltif Loudyi and Defence Mnister Nirmala Sitaraman in South Block in New Delhi. This was first ever visit of Moroccan Defence Minister to India.

Highlights of meeting

Both countries agreed to enhance bilateral cooperation in field of defence and security. They identified fields of hydrography, peacekeeping, telemedicine, information technology and communications as well as counter Terrorism and counter insurgency as potential areas for bilateral engagement. They also discussed cooperation in defence industry including collaboration in ship building and manufacturing.

Two MoUs signed

Both countries also singed two bilateral MoUs, (i) ‘Cooperation in the area of Cyber Security’ between Computer Emergency Response Team (CERT–IN) and Moroccan Computer Response Team (ma-CERT) and (ii) Cooperation in Peaceful Uses of Outer Space’ between Indian SSRO and Moroccan Centre of Remote Sensing.