08 November 2016 Current Affairs: India and the United Kingdom has inked two pacts to boost cordial relations between the two nations. The pacts were inked during the visit of Theresa May, the Prime Minister of the United Kingdom to India.
PM Theresa May was on a three Day visit to India (6 November to 8 November 2016).
MoU on Ease of Doing Business : The MoU intends to make expertise from different departments of the UK Government which have led the ease of doing business drive in the UK available to the relevant departments and agencies of the Government of India. It includes exchange between the officials and sharing of best practices and technical assistance for effective implementation of the initiatives of GOI to improve its ranking in the ease of doing business.
Important areas of cooperation include support to businesses and startups, tax administration, regulatory regimes, competition economics, etc.
MoU for cooperation in the field of intellectual property : The MoU envisages establishing a mechanism for furthering cooperation between the Intellectual Property Offices of India and the UK in the field of IP and related information technology services.
It will include exchange of best practices, experience and knowledge of IP awareness among the public, businesses, industry, R&D organizations and educational institutions, as well as on processes for disposal of applications for patents, trademarks, industrial designs and geographical indications.
This MoU was signed between the Department of Industrial Policy and Promotion, Ministry of Commerce and Industry, India and the Intellectual Property Office of the United Kingdom (UK IPO).
Besides, the annual ministerial meeting of India UK Joint Economic and Trade Committee (JETCO) was held in New Delhi. During the 11th India-UK JETCO, the two sides reviewed the progress held in the two existing Joint Working Groups, that is, Smart Cities and Technological Collaboration, Advanced Manufacturing & Engineering under the aegis of JETCO.
The two sides also decided to create a new Joint Working Group (JWG) to discuss and resolve trade related issues. The Group will not only focus on goods trade, but also services, including through greater mobility for skilled professionals.