India-Japan MoC and Agreement: Overview

India-Japan MoC and Agreement: Overview

Question: DIPP has recently cooperated with Japan on two counts - an MoC and an agreement. Elaborate on both.

MoC

• Union Cabinet has given the approval for Memorandum of Cooperation between the Department of Industrial Policy & Promotion and the Japan Patent Office, economy, trade and industry ministry.

• Purpose of MoC is for establishing the framework of bilateral cooperation in Industrial Property.

• Emphasis is on capacity building, HRD and awareness generation.

• Offices will implement biennial Action Plan comprising cooperation projects and activities on a principal basis in the following areas, though not exclusively under these:

• Information sharing on IP Protection Systems and Practices.

• Bilateral cooperation in examination, including utilisation of examiner-exchange program.

• Bilateral cooperation in the scheme of the Patent Cooperation Treaty.

• Help in development of IP infrastructure.

• Capacity building through the use of IT infrastructure.

• Information dissemination and awareness building for the public.

Agreement

• Union Cabinet has also given approval for renewing the long term agreement with Japanese and South Korean steel mills for supplying high grade Indian iron ore.

• This agreement is for a duration of three years from April 2015 to March 2018.

• Quantities covered under the agreement will be around 3.8 to 5.5 million tonnes per year and supplied primarily by mines from National Mineral Development Corporation.

• Contract is to be implemented by MMTC in the Department of Commerce.

Facts and Stats

• Iron ore of highest grade has been supplied by India under LTA during 4 to 5 decades.

• Agreements continue this relationship and strengthen Indo Japanese collaboration in areas of mutual internet such as technology transfer, investment and JV.

• Agreement will utilise surplus iron ore available in the nation.

• In the Financial Year 2013-2014, Japan India bilateral trade reached USD 16.31 billion that is around 11.89% lower than USD 18.51 billion in 2012-2013.

• Fall in total trade was due to reduction in Japanese exports by 23.53% while Indian exports rose by 4.36% in 2013-2014

• Share of bilateral trade between India and Japan has been at 1% of the total foreign trade of Japan and in the range of 2.2 to 2.5 percent of total trade in India in the past years.