FRANCE AND UAE ANNOUNCE COOPERATION INITIATIVE UNDER TRILATERAL FRAMEWORK

INDIA,

The trilateral initiative will serve as a forum to expand cooperation between the three countries on projects in the fields of defense, energy, climate change and technology, among others.

India, France and the UAE announced a formal trilateral cooperation initiative in the areas of defence, nuclear energy and technology. The Foreign Ministers of the three countries held a telephonic meeting to adopt a roadmap for the implementation of this initiative. A joint statement released by the three sides said the trilateral initiative will serve as a forum to promote the design and execution of cooperation projects in the fields of energy, with a focus on solar and nuclear energy. It also said defence is an area of close cooperation between the three countries and efforts will be undertaken to further promote joint development and co-production. It added that the countries will discuss further collaboration and training between its defence forces. The Foreign Ministers of India, France and the UAE met for the first time in a trilateral format on the margins of the United Nations General Assembly in New York on September 19, 2022. There, the three ministers put forward their shared desire to promote international stability and prosperity, and to further build upon the constructive and collaborative ties that exist between the three countries. It was then that they decided to establish a formal trilateral cooperation initiative, with the aim of expanding cooperation in various fields of mutual interest.

The initiative will also focus on the fight against climate change and the protection of biodiversity, particularly in the Indian Ocean region. The three countries will explore the possibility of working with the Indian Ocean Rim Association (IORA) to pursue concrete, actionable projects on clean energy, the environment, and biodiversity. To strengthen the ties between the countries, a range of trilateral events will be organised during India’s G20 Presidency and the United Nations Climate Change Conference which will be held in the UAE this year. Other areas where the countries agreed to collaborate include measures against infectious diseases, technological innovation and promoting cultural cooperation.

Source: PTI

GOVERNMENT TARGETS TO LAUNCH INITIAL PUBLIC OFFERS OF IREDA, WAPCOS BY THE COMING FISCAL, CONFIRMS DIVESTMENT SECRETARY

The proceeds from the stake sales would form part of the Budgeted disinvestment kitty of Rs 51,000 crore for the next fiscal.

The government is targeting to launch the initial public offering (IPO) of clean energy lender IREDA and state-owned engineering consultancy firm WAPCOS in the next fiscal, DIPAM Secretary Tuhin Kanta Pandey said.

The proceeds from the stake sales would form part of the Budgeted disinvestment kitty of Rs 51,000 crore for the next fiscal. “IREDA is lined up for Initial public offering (IPO) next fiscal. DRHP for WAPCOS has already been filed,” Pandey told PTI. The Department of Investment and Public Asset Management (DIPAM) manages government equity holding in public sector companies.