Union Cabinet approves MoU between India and UK to support Ease of Doing Business in India
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.
Key Facts
- 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.
Background
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.
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Month: Current Affairs - December, 2016