CURRENT AFFAIRS

Detailed explanation-1: -India has become the third Asian country after Japan and South Korea to get the Strategic Trade Authorisation-1 (STA-1) status after the U.S. issued a federal notification to this effect, paving the way for high-technology product sales to New Delhi, particularly in civil space and defence sectors.

Detailed explanation-2: -STA allows for license exception with regards to exports from the US. This type of US government authorisation allows a certain item to be exported under defined conditions without a transaction-specific license. Currently there are 36 countries on STA-1 list. India is only South Asian country to be on the list.

Detailed explanation-3: -The granting of STA-1 status to India comes after the US recognised India as a “major defence partner” in 2016. India is the only south Asian nation to be given the designation along with the US’ NATO allies like South Korea, Australia and Japan.

Detailed explanation-4: -United States has designated India as Strategic Trade Authorization-1 (STA-1) country that will allow country to buy highly advanced and cutting-edge sensitive technologies from America. This coveted status brings India in par with US’s closest allies and partners such as NATO.

Detailed explanation-5: -In 2011, as part of the export control reforms initiative, the US government came up with the concept of Strategic Trade Authorisation (STA)-a move towards a licence-free or license exemption regime.