Act East Policy Current Affairs - 2020
PM Modi attended the 16th India-ASEAN summit held at Bangkok. The current ASEAN summit is being held in Bangkok, Thailand and the next ASEAN summit is to be conducted in Vietnam in 2020.
- India has allocated 1 billion USD as line of credit to improve physical and digital connectivity.
- India highlighted that the India-ASEAN summit, 2018 and Singapore informal summit has brought India and ASEAN closer
- India looks forward for cooperation in the areas of engineering, agriculture, science and ICT.
- India has also expressed its readiness to improve its partnership and capacity building in areas of research, agriculture, engineering, science and ICT.
- India also highlighted that it is looking forward to strengthen cooperation in the areas of blue economy and maritime security
- India believes that Act East Policy is a significant cornerstone of the Indo-Pacific Strategy
Significance of ASEAN for India
- ASEAN comprises of Singapore, Malaysia, Philippines, Indonesia, Thailand, Cambodia, Brunei, Myanmar, Lao PDR and Vietnam.
- ASEAN is India’s fourth largest trading partner. India’s trade with ASEAN stands at 81.33 billion USD.
- FDI inflows from ASEAN between 2000 and 2018 into the country has been 68.91 billion USD. The FDI outflows from India to the countries have been 38. 672 billion USD.
Tags: Act East Policy • ASEAN • FDI • Foreign Investment • India-ASEAN
Brahmos missile is considered as one of the fastest supersonic missiles. Philippines army is acquiring Indian-manufactured weapon in order to strengthen its coastal defences. In 2018, Indian PM Modi signed 4 bilateral agreements during his visit to Philippines, and acquiring Brahmos is one among them.
- The acquisition proves that India’s Act East Policy is being strengthened.
- India’s bilateral relation with the South Asian Countries and also with Philippines has diversified
- It will also help achieve India’s defence exports target of Rs 35,000 crore in the next 5 years.
The Brahmos is a medium range cruise missile that can be launched from submarine, aircraft, ships and land. It is the fastest supersonic missile in the world. The design of the missile was a joint venture between Russian federation and India’s DRDO. The name of Brahmos is formed from the names of two rivers Brahmaputra in India and Moskva in Russia.
In 2016, India became a part of Missile Technology Control Regime after which India and Russia are now planning to develop a new generation of Brahmos missile with a target range of 500-km.