CURRENT AFFAIRS

2022

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Question [CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]

India has signed Investment Incentive Agreement with which country to boost investment in key sectors?

A	USA
B	Australia
C	UK
D	France

Explanation:

Detailed explanation-1: -The agreement will help in increasing the investment support from USA’s development finance institution in various sectors. The investment support is given in the form of debt, equity investment, investment guaranty, reinsurance, grants, etc. IIA supersedes another similar pact signed between India and the USA in 1997.

Detailed explanation-2: -The investment incentive agreement was signed between foreign secretary Vinay Kwatra and the CEO of the US International Development Finance Corporation (DFC). IIA is a legal requirement for the US in order to continue its operations and financial support in India under DFC programs.

Detailed explanation-3: -Production Linked Incentive (PLI) scheme across 14 key manufacturing sectors, was launched in 2020-21 as a big boost to Make in India initiative. The PLI Scheme incentivises domestic production in strategic growth sectors where India has comparative advantage.

There is 1 question to complete.