News Highlight:
- India and Germany on Monday inked an agreement on a Comprehensive Migration and Mobility Partnership, which will help the citizens of both nations to study, do research and work in each other’s country.
- India-Germany ink migration agreement and Russian oil purchase. External Affairs Minister S. Jaishankar defended the government’s decision to increase its intake of Russian oil since the war in Ukraine.
Key Takeaway:
- In the wake of Russia’s invasion of Ukraine, after several Russian industries faced sanctions from the West, India has come under criticism for continuing to buy oil from Moscow.
- Justifying India’s decision to import Russian crude oil amidst the Ukraine war, External Affairs Minister S Jaishankar said Wednesday that his moral duty is to ensure the best deal for Indians, most of whom cannot afford high energy prices.
India-Germany ink migration agreement:
- aims at facilitating the two-way movement of students, professionals and researchers and is also set to address the challenges of illegal migration.
- The agreement on migration will ease mobility issues
- visa challenges (for Indians to Germany) will be resolved.
- The migration and mobility partnership is set to encourage the increased exchange of students between the two countries.
- the Indian government will facilitate admission of German students in Higher Education Institutions (HEIs) under programmes like Study in India.
- Further, the deal ensures an active people-to-people exchange among students, academia and the professional workforce.
- enhances efforts on Germany and India’s part to expand the internationalisation of higher education systems.
- to interlink further the innovation and research landscapes of both countries, and to strengthen dual structures for Vocational Education and Training.
India’s decision to buy Russian oil:
- India’s consumption of Russian oil was just one-sixth of European consumption and should not be compared unfavourably.
- India’s traditional supplier lot has shrunk. At this time, oil and gas prices are unreasonably high. Many traditional suppliers to India are also diverting them to Europe because Europe is buying or can buy less oil and gas from Russia.
- Europe is also buying much more from the Middle East and other sources that would have supplied India.
- In the wake of Russia’s invasion of Ukraine, following which several Russian industries faced sanctions from the West, India has come under criticism for continuing to buy oil from Moscow.
- India has issued multiple statements calling for dialogue and diplomacy while dealing with the Russia-Ukraine crisis
Associated Challenges:
- Much remains to be seen on the response of the OPEC plus countries, where Russia is a major player.
- The enforcement of the sanctions would be difficult as there is no consensus among the members.
- With the ban, there will be more challenges for sustainable development.
- There would be scrambling for resources across the world.
- There would be issues of trade deficit and current account deficit because of remittances and exports of invisible.
Pic Courtesy: The Hindu
Content Source: The Hindu