Ease of doing business Current Affairs - 2019
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The Union Cabinet has given its approval to Memorandum of Understanding (MoU) between India and United Kingdom (UK) to support Ease of Doing Business in India.
The MoU was signed between both countries earlier in November 2016 during the official state visit of UK Prime Minister Theresa May to India.
- The MoU will facilitate exchange Government officials from both countries to facilitate sharing of best practises, technical assistance and enhanced implementation of reforms.
- The beneficiaries include the officials from India will include Central Government Ministries / Departments and State Governments.
- It will facilitate various agencies of UK government to offer professional courses on capacity-building of frontline inspectors, better regulation drafting for officials, sharing of best practises, etc.
- The collaboration is expected to expedite adoption of innovative practises by the India leading to easing of regulatory environment in country and fostering of conducive business climate in India.
Currently, India is ranks 130th out of 190 economies in Ease of Doing Business (EoDB) as per Doing Business Report, 2017. On the other hand UK has achieved phenomenal improvement in EoDB rankings in recent years.
MoU for Cooperation in the Field of Intellectual Property
The Union Cabinet also approved to the MoU between India and UK for Cooperation in the Field of Intellectual Property (IP) signed in November 2016. The MoU seeks to facilitate establishment of wide-ranging and flexible mechanisms for cooperation in the development of automation, new documentation and information systems in the field of IP. It provides an opportunity for collaboration in training programmes, exchange of experts and technical exchanges and outreach activities. Its implementation will enhance capacity of the Office of Controller General of Patents, Designs & Trademarks (CGPDTM) to examine patent applications, which in turn will impact innovation positively.
India and the United Kingdom have signed two memorandum of understanding (MoUs) to boost relations between the two nations.
These MoUs were signed during the official three days state visit of UK Prime Minister Theresa May to India. It was her first bilateral visit outside Europe after becoming PM and after UK’s decision to exit from European Union.
Signed MoUs are
MoU on Ease of Doing Business
- Under it, expertise from UK Government will be made available to relevant departments and agencies of the Indian Government for the ease of doing business drive.
- It includes sharing of best practices and technical assistance, exchange between the officials to India for effective implementation of the initiatives in order improve its ranking in the ease of doing business.
- Important areas of cooperation include tax administration, regulatory regimes, support to businesses and startups, competition economics, etc.
MoU for cooperation in the field of intellectual property
It was signed between the Department of Industrial Policy and Promotion (DIPP) and the Intellectual Property Office (IPO) of UK.
- It envisages establishing a mechanism for furthering cooperation between the IP Offices of India and UK in the field of IP and related information technology (IT) services.
- It includes exchange of experience, best practices and knowledge of IP awareness among the public, businesses, industry, R&D organizations and educational institutions.
- It also includes exchange of processes for disposal of applications for trademarks, patents, industrial designs and geographical indications.
Both countries also agreed to establish new Joint Working Group (JWG) to discuss and resolve trade related issues. It will focus on goods trade and also on services, including through greater mobility for skilled professionals.