- Earlier this agreement has been signed between India and the US in the year 1997. which includes the creation of DFC (Development Finance Corporation).
- The Corporation or its precursor agencies are active in India since 1974 and have so far provided investment support worth $5.8 bn.
- Apart from that this corporation has also provided investment support in many sectors like COVID-19 vaccine manufacturing, healthcare financing, renewable energy, etc.
- The main significance behind this Incentive Investment Agreement is to keep bound with the additional investment support provided by the DFC in many forms such as debt, equity investment, investment guarantee, subsidies, grants, etc. which in turn leads to the development of the country’s infrastructure.
- This is considered to be a breakthrough for India as there shall be continuous investment support to develop world-class infrastructure.
Question:
Q.1 Which among the following countries has signed an Investment Incentive agreement?a. India-Japan
b. India-Australia
c. India-US
d. India-Russia
