India to invest $2 billion in Sri Lanka

Posted on:30 Sep 2016 09:21:44

India to invest $2 billion in Sri Lanka
30 September 2016 Current Affairs: India is going to invest 2 billion dollars in Sri Lanka in the next three-four years. It was announced by Union Minister for State (MoS) Commerce and Industry Nirmala Sitharaman during her visit to Sri Lanka.

 She had visited Sri Lanka for talks on the Economic and Technological Cooperation Agreement (ETCA) to discuss the terms of the agreement.

Economic and Technological Cooperation Agreement (ETCA) :  ETCA agreement seeks to boost cooperation in scientific expertise, technical areas and research amongst institutions between India and Sri Lanka.

 It also seeks to boost standards of goods and services to compete on global market and improve opportunities for manpower training and human resource development. 

The ETCA initiative follows unfruitful negotiations on a Comprehensive Economic Partnership Agreement (CEPA) between two countries. Objectives of ETCA: (i) Strengthen and advance the economic, trade, investment and technology cooperation. (ii) Promote further liberalization of trade in goods, trade in services and gradually establish transparent, fair and facilitative trading, investment and investment protection mechanisms (iii) Establish a cooperation mechanism and expand areas of economic cooperation.


Subscribe to Current Affairs

Enter your email to get daily current affairs

Current Affairs May 2017

25 MAY
NEWS
24 MAY
NEWS
23 MAY
NEWS
22 MAY
NEWS

Current Affairs April 2017

29 APRIL
NEWS
28 APRIL
NEWS
27 APRIL
NEWS
26 APRIL
NEWS

Current Affairs March 2017

31 MARCH
NEWS
30 MARCH
NEWS
29 MARCH
NEWS
28 MARCH
NEWS