BRICS Current Affairs - 2020

Category Wise PDF Compilations available at This Link

14 MoUs signed at 5th India-Russia Industrial Conference

India and Russia signed 14 Memorandum of Understandings at the India-Russia Industrial Conference held at DefExpo 2020, Lucknow. The Agreements were signed under Make in India initiative.

Highlights

The countries signed agreements related to ASW rocket launchers, T-72, radar systems, 3D modeling, T-90.

The Defence ties of India and Russia has been strong. The countries have also established defence ties through multilateral orgnizations.

India-Russia at multilateral organizations

  • The National Security Advisor attended the BRICS Foreign Ministers meet in June 2019. He met President Putin, the Russian President on the sidelines of the meet to strengthen defence ties between the countries
  • At the SCO (Shanghai Cooperation Organization), India participated at the fifth edition of the biennial joint military counter terrorist command for the first time in August 2018.
  • Russia has been one of the long-standing supporters of India’s membership at the Nuclear Suppliers Group.
  • Russia welcomes One Belt One Road initiative of China.
  • Russia also welcomes the International North-South Transport Corridor that was held in March 2019. It is a 7,2000 km long international multi-node rail, road and ship route between Europe and Central Asia. It includes India, Russia, Afghanistan, Azerbaijan, Armenia and Europe.

Get these updates on Current Affairs Today Android App

Cabinet approves Social Security Agreement between India and Brazil

On December 11, 2019, the Union Cabinet chaired by PM Modi gave its approval for signing Agreement on Social Security between India and Brazil. The Social Security Agreement is being signed by India with several other countries in order to protect the interests of the professionals and skilled workers living abroad

Highlights of the agreement

There are around 4.700 Indians living in Brazil and 1,000 Brazilians living in India. The agreement would promote inclusiveness and equity for the Indians living in Brazil and vice versa.

The agreement also allows export of social security benefits of the Indian workers after they relocate from Brazil.

Background

The idea of signing social security agreements conceived in the BRICS Labor and Employment Minsters meet that was held in June 2016 in New Delhi. It was also insisted at the 8th BRICS summit. It was after this summit India and Brazil began their negotiations and finalized the text of Social Security Agreement.

Benefits

The agreement helps to avoid double social security contributions made by the workers. It also avails easy remittance of benefits offered by the governments of the respective countries. The agreement also allows the NRIs to aggregate the contribution periods. This will help to avoid loss of benefits.

Get these updates on Current Affairs Today Android App