Afghanistan Current Affairs

38th India International Trade Fair (IITF) held at Pragati Maidan in New Delhi

The 38th India International Trade Fair (IITF) was held at Pragati Maidan in New Delhi. The 14-day annual event was inaugurated by inaugurated by Union Minister of State for Culture, Mahesh Sharma. It is organised by India Trade Promotion Organisation (ITPO).

India Trade Promotion Organisation (ITPO)

It is the nodal agency of the Government of India under aegis of Ministry of Commerce and Industry for promoting country’s external trade. It is Mini-Ratna Category-1 Central Public Sector Enterprise (CPSE) with 100% shareholding of Government. It is headquartered at Pragati Maidan.

38th IITF

  • The theme of this edition of fair was “Rural Enterprises in India”. Afghanistan is partner country, while Nepal is focus country for this edition of fair. Jharkhand is participating as partner state in the event.
  • The fair is aimed providing platform for all kind of businesses to showcase their excellence & wide spectrum of services to trade, industry & common men.
  • Around 800 participants from different States, government departments and domestic and international companies are taking part in the fair to showcase their product.
  • In this fair, exhibition of various types of products such as automobile, jute products, garments, household utensils, processed foods, beauty products, electronic products etc. are being organized.

Month: Categories: India Current Affairs 2018

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US exempts India from imposition of sanctions development of Chabahar Port in Iran

United States has exempted India from imposition of certain sanctions for development of strategically-located Chabahar port in Iran, along with construction of railway line connecting it with landlocked Afghanistan. The decision comes after US imposed toughest ever sanctions on Iran under Iran Freedom and Counter-Proliferation Act, 2012.

Key Facts

The exemptions to India are with respect to development of Chabahar port, construction of associated railway and for shipment of non-sanctionable goods through port for Afghanistan’s use, as well as the country’s continued imports of Iranian petroleum products.

This exception relates to reconstruction assistance and economic development for Afghanistan. These activities are vital for ongoing support of Afghanistan’s growth and humanitarian relief. It is also part US President Donald Trump’s South Asia strategy which underscores US’s ongoing support of Afghanistan’s economic growth and development as well as close partnership with India. This strategy states that India has major role in bringing peace and development in Afghanistan.

Background

US has imposed toughest ever sanctions on defiant Iran aimed at altering the Iranian regime’s “behaviour”. The sanctions cover Iran’s banking and energy sectors and reinstate penalties for countries and companies in Europe, Asia and elsewhere that do not halt Iranian oil imports. However, eight countries — India, China, Italy, Greece, Japan, South Korea, Taiwan and Turkey — were temporarily allowed to continue buying Iranian oil as they showed significant reduction in oil purchase from Iran.

Month: Categories: International Current Affairs 2018

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