MoU Current Affairs - 2020

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India-Portugal sign 7 agreements

The Portugal President Marcelo Rebelo de Sousa is on a 4-day visit to India. During his visit, he held talks with PM Modi. After their meeting 4 agreements were signed between the countries

Highlights

The countries signed agreements on culture, transport, investment, industrial and intellectual property rights. Agreements were also signed on developing a world class national maritime heritage complex at Lothal.

The GoI also allocated funds for this joint venture in the Budget 2020-21

Budget 2020-21

The Fund allocated in Budget 2020-21 for the Ministry of Culture was 3,150 crores and for that of Ministry of Tourism was 2,500 crores.

The Fund is partly to be used for construction of a maritime museum at Lothal with the help of Portugal Government.

The funds will also be used in developing 5 archaeological sites.  They are Adichanallur in Tamil Nadu, Sivasagar in Assam, Hastinapur in Uttar Pradesh, Dholavira in Gujarat and Rakhigarhi in Haryana

Also, a tribal museum is to be set up at Ranchi, Jharkhand.

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Cabinet Approval: India-Iceland MoU in Sustainable Fisheries Development

On February 12, 2020 the Union Cabinet approved the Memorandum of Understanding signed between India and Iceland in the field of fisheries.

Highlights

The countries had signed agreements in September 2019, to develop inland fisheries. According to the agreement, the countries agreed to create facilities of technical experts and scientists in shore areas and deep sea areas. They also agreed on exchange of scientific research literature, scientific experts in the field of fisheries.

The agreement strengthens bilateral cooperation between India and Iceland.

Fisheries in India

According to the Economic Survey 2020, fisheries contribute to 6.58% of India’s GDP along with agriculture and forestry. The export of marine products for the year 2018-19 was 13.92 lakh tonnes. The survey also says that the total fish production of the country stood at 13.42 million tonnes in the year 2018-19. The major fisheries resources of India is spread across the vast coast line. It stands at 2.02 million square km of the Exclusive Economic Zone.

The GoI in 2018-19 allocated Rs 7,522 crores of rupees towards Fisheries and Aquaculture Development Fund (FIDF).

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