INDIA & BRITAIN

India and Britain held the fifth ministerial level India-UK economic financial dialogue in New Delhi on 2 April 2012. Both nations discussed ways to strengthen their mutual cooperation and further boost trade and investment between them. Highlights of the dialogue are as following:

• Both nations agreed that while the global economy has stabilized in recent months, growth will remain subdued and at risk from a series of threats.

• India and Britain welcomed the exchange of ideas in financing infrastructure as part of the Dialogue, noting that both countries share a common aim of increasing the role of institutional investors in infrastructure financing.

• India and Britain also discussed the importance of developing deep and efficient capital markets to support infrastructure financing in  India. Foreign capital can play an important part in this process.

• Both nations supported the progress on the Reserve Bank of India’s (RBI) roadmap for foreign banks in India.

• Both sides agreed that there was a clear benefit to sharing experiences on this and welcomed the ongoing technical collaboration to assist the FSLRC (Financial Sector Legislative Reforms Commission) in carrying out its mandate.

• Both sides welcomed the Cannes Action Plan for  Growth and Jobs agreed at the November 2011 Cannes Summit.

• Both nations are committed to ensuring that the IMF is adequately resourced to play its systemic role in the international financial system in support of its entire membership and that the quota and governance reforms of the IMF are implemented within the agreed timelines.

• Both sides agreed to remain committed to pursuing the financial regulatory reform agenda according to the time table agreed in G-20 in an internationally consistent and non-discriminatory manner. This will be
  monitored by the Financial Stability Board through its Coordination Framework for Implementation Monitoring. Both sides discussed the joint approaches to meeting these commitments and will continue to work together  to strengthen the global financial system.

• Both sides recognized the need for countries to sign the Multilateral Convention on Mutual Administrative Assistance in Tax Matters and engage in automatic exchange of information where legally required to
  improve tax compliance and decrease tax evasion.

• Recognising the importance of open trade for the global economy, India and UK reaffirmed their commitment to refrain from protectionism. v India and the UK welcomed the 40% year on year increase in the export of goods from the UK to India and the increase by 35.05% of exports from India to UK in 2011.

INDIA & PAKISTAN

The Pakistan government issued the Statutory Regulatory Order (SRO) for switching over to a negative list regime for trade with India. As per SRO, the import of 1209 Indian products will be included in the negative list and will not be importable from India. Of the importable items from India, 137 products can be brought in from India through the Wagah land border crossing. Several items that were included in negative List of 1209 items are sports goods and surgical goods, cigarettes , crude and palm oil, tobacco, paracetamol, eye drops, perfumes, toothpastes, cellular mobiles phones, leather made jackets and coats, different types of papers, telephone cables, CNG and LPG buses, gas and electricity meters, mini vans and rickshaws. Finalising the negative list will help increase bilateral trade between India and Pakistan.

INDIA & UAE

India and the UAE signed an agreement in Abu Dhabi to amend the double taxation avoidance treaty, paving the way for greater sharing of tax related information between the two countries and also agreed to set up a joint
committee to look after consular issues.The India-UAE agreement on avoidance of double taxation was updated to bring it at par with the internationally accepted standards. Now the banking information as well as any
information without any domestic tax interest can be shared between the two nations. A Joint Committee will be set up to look into and address the concerns of Indian and Emirati nationals on counsellar issues. These include issues such as birth or death registration, quasi judicial matters like detention or arrest, travel documents like passport and visa and others affecting the people.It is expected that the agreements will protect the interests of the people and promote stronger relations between the two countries.

INDIA & GERMANY

India and Germany decided to promote bilateral cooperation in the field of sustainable urban development through exploration of solutions to problems of mutual concern. A joint declaration to this effect was signed at a meeting in New Delhi between Urban Development Minister Kamal Nath and his German counterpart Peter Ramsauer. The Joint Declaration envisages promoting discussion and strategies on integrated policies and principles for urban development and revitalization in the two nations.

INDIA & QATAR

India and Qatar signed six agreements, including a pact on cooperation in oil and gas exploration. The agreements were signed in New Delhi during the visit of Qatar’s Emir Sheikh Hamad bin Khalifa al- Thani. Both the leaders had discussions on a range of issues, including boosting trade and investment as well as energy ties between the two countries. Issues relating to the welfare of Indian workers in the Gulf country were also discussed. India and Qatar signed a pact on establishing a cooperative framework to increase bilateral cooperation in oil and gas. It is likely to encourage and promote investment and cooperation between the two Ministries of oil and gas and through affiliated companies. A memorandum of Understanding was signed between the Reserve Bank of India and Qatar Central Bank.

INDIA & BANGLADESH

The Bangladesh government decided to honour 132 foreign leaders, intellectuals, cultural personalities and organisations who helped in the country’s Liberation war of 1971. The list of people to be honoured includes 47 Indians. The honour will be conferred on 27 March 2012. The Indians who are being awarded include Sachindra Lal Singh, Rajeshawar Rao, Siddhartha Shankar Ray, P A Sangma Justice Sadat Abul Masud,Dr Karan Singh, Maharani Biva Kumari Devi, Field Marshal SAM Manekshaw, Lt Gen Jagjit Singh Aurora, Lt Gen Jacob, Lance Nayek Albert Ekka.

INDIA & COLOMBIA

India and Colombia signed a Cultural Exchange Programme (CEP) in New Delhi for the Years 2012-2016. The CEP was signed in conformity with the provision established in the Cultural Agreement between the Government of India and the Government of Colombia. CEP was signed in Bogota, capital of Columbia on 22 May 1974. The CEP includes areas such as Cultural Heritage, Museums, Archives, Exhibitions, Scenic Arts,
Visual Arts, Cinematography, Radio and Television, Music, Libraries, Book and Literature, Creative Industries and Editorial Industry for cooperation. Both India and Colombia shall contribute to the exchange and cooperation between institutions and organisations that deals with cultural affairs, as well as amongst cultural creators, researchers and cultural agents of the two nations. India and Colombia shall exchange visits of cultural
delegations. Both the nations have agreed to set up a joint working group to look after the implementations of their programme. The joint working group will have a meeting alternately in India and in Colombia when decided by both the nations.

7TH MEETING OF THE INDIA-RUSSIA JOINT WORKING GROUP

The seventh meeting of the India-Russia Joint Working Group was held in New Delhi on 11 April 2012. India and Russia held comprehensive discussions on combating international terrorism and reaffirmed their commitment to consolidate bilateral interaction in the fight against this menace. The two countries emphasised that cooperation in countering new  challenges and threats is an integral part of the Indian-Russian special and privileged strategic partnership. Moreover, both nations underlined the role of international efforts in preventing and suppressing terrorism including consistent implementation
of the UN Global Counterterrorism Strategy and the relevant resolutions of the UN Security Council.