PM Modi's Visit to Guyana: Strengthening Ties with 10 New Agreements
India and Guyana Strengthen Ties with 10 New Agreements
Overview of Agreements
During Prime Minister Narendra Modi's visit to Guyana, India and Guyana signed 10 Memorandums of Understanding (MoUs) to enhance cooperation in various sectors. These agreements cover agriculture, pharmaceuticals, digital payments, and more.
Key Areas of Cooperation
Hydrocarbons: An MoU focuses on joint efforts in crude sourcing, natural gas collaboration, and infrastructure development, aiming to enhance capacity building and expertise sharing.
Agriculture: A bilateral cooperation agreement seeks to foster joint activities and exchange scientific materials to advance agricultural development.
Cultural Exchange: A Cultural Exchange Programme (2024-2027) was signed to promote cooperation in theatre, music, fine arts, literature, libraries, and museums.
Health Sector: Agreements include the recognition of Indian Pharmacopoeia Regulation and the implementation of the Janaushadhi Scheme for affordable medicines.
Pharmaceuticals: An MoU regulates raw materials, biological products, medical devices, and cosmetics, creating a framework for dialogue.
Digital Transformation: The INDIA STACK MoU focuses on digital collaboration through capacity building and training programmes.
Real-Time Payments: An agreement aims to deploy a UPI-like payment system in Guyana, transforming digital transactions.
Broadcasting: An agreement between Prasar Bharati and Guyana's National Communications Network will exchange programmes in culture, education, science, and sports.
Defence: A defence-focused MoU between Guyana's National Defence Institute and India's Rashtriya Raksha University aims to enhance education, research, and training in national security and defence studies.
Doubts Revealed
PM Modi
PM Modi refers to Narendra Modi, who is the Prime Minister of India. He is the leader of the Indian government and represents India in international matters.
Guyana
Guyana is a country located on the northern mainland of South America. It is known for its dense rainforests and is culturally connected to the Caribbean region.
MoUs
MoUs stands for Memorandums of Understanding. These are agreements between two or more parties, often countries, to work together on certain projects or areas without being legally binding.
Hydrocarbons
Hydrocarbons are organic compounds made of hydrogen and carbon atoms. They are the main components of oil and natural gas, which are important energy resources.
UPI-like payment system
UPI stands for Unified Payments Interface, a popular digital payment system in India that allows instant money transfers between bank accounts using a mobile phone. A similar system will be introduced in Guyana.
Bilateral ties
Bilateral ties refer to the relationship between two countries. Strengthening these ties means improving cooperation and understanding between the two nations.
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