Daily Current Affairs October 18

Dear Champions, as you all know that a lot of competitive exams have been notified consequently. Candidates have to prepare themselves according to the level of competition and expectation of the Recruitment board. Regarding that one of the most important topic is Daily Current Affairs October 18. Current Affairs in the form of contemporary events of national & international play a crucial role in almost every competitive exams like Banking, Insurance, SSC, UPSC, TNPSC, Railway etc.

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October 18| Daily Current Affairs 2023

Important Days – Daily Current Affairs October 18

1. On which date is World Trauma Day celebrated every year?
A) 15 October
B) 16 October
C) 17 October
D) 18 October
E) 19 October
Answer: C) 17 October

• World Trauma Day is celebrated every year on 17 October.
• The day is dedicated to create awareness about trauma, its causes, symptoms, and prevention.
• This day is first observed in 2011 in New Delhi

World White Cane Day

• World White Cane Day is celebrated every year on October 15.
• Also known as White Cane Safety Day, the day was first marked in 1964 in United States by President Lyndon B Johnson.

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Banking and Finance – Daily Current Affairs October 18

2. Tiger Logistics (India) Ltd recently announced a partnership with which financial institution to assist exporters and importers in various logistics-related tasks?
A) State Bank of India
B) HDFC Bank
C) Axis Bank
D) ICICI Bank
E) Punjab National Bank
Answer: D) ICICI Bank

• Tiger Logistics (India) Ltd has partnered with ICICI Bank to help exporters and importers to track shipment, get information on freight rates and ease documentation process.
• The partnership will facilitate integrated banking and end-to-end logistics for exporters and importers
• This collaboration will integrate the ICICI Trade Emerge platform with Tiger Logistics’ proprietary digital freight booking and management platform FreightJar. The partnership will empower exporters and importers with easy access to competitive freight rates and a comprehensive solution to their global trade needs.

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3. Which two organizations have joined forces to co-finance projects worth Rs 30,000 crore over the next 5 years?
A) Reserve Bank of India and State Bank of India
B) Tata Group and Adani Group
C) Reliance Industries and HDFC Bank
D) REC (Rural Electrification Corporation) and Bank of India
E) NITI Aayog and Indian Railways
Answer: D) REC (Rural Electrification Corporation) and Bank of India

• REC Ltd signed an agreement with Bank of India to co-finance Rs 30,000 crore worth of projects in the power, infrastructure and logistics sectors over the next five years under a consortium arrangement.
• REC, a Maharatna company, provides long-term loans and other finance to the power sector. The firm, which has also diversified into areas like roads, metro rails, airports and IT, had a loan book of Rs 4.54 lakh crore as of the June 2023.
• Under the agreement, REC and BoI will partner to co-finance loans amounting to Rs 30,000 crore for infra projects implementable over the next five years

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4. BLS E-Services recently collaborated with which bank to revolutionize Indian banking?
A) State Bank of India
B) HDFC Bank
C) ICICI Bank
D) Axis Bank
E) Kotak Mahindra Bank
Answer: E) Kotak Mahindra Bank

• BLS E-Services Limited , a subsidiary of BLS International Services Limited has entered into a Master Business Correspondent Agreement with Kotak Mahindra Bank.
• This transformative partnership is set to redefine the financial landscape and foster inclusive growth.
• The Master Business Correspondent Agreement, signed for an initial period of 3 years, with the possibility of extension for an additional year, solidifies the commitment of both BLS E-Services and Kotak Mahindra Bank to bring accessible and affordable banking services to the underserved and unbanked segments of the population.
• This holistic approach to financial inclusion will be initially launched at 1000 strategically selected locations across Punjab, Haryana, Gujarat, Maharashtra, and Karnataka, fostering economic empowerment and growth in these regions.

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Acquisitions and Mergers – Daily Current Affairs October 18

5. Which regulatory authority in India approved the merger of IDFC Ltd with IDFC FIRST Bank?
A) Reserve Bank of India (RBI)
B) Securities and Exchange Board of India (SEBI)
C) Insurance Regulatory and Development Authority of India (IRDAI)
D) Competition Commission of India (CCI)
E) Ministry of Corporate Affairs (MCA)
Answer: D) Competition Commission of India (CCI)

• Fair trade regulator Competition Commission of India (CCI) approved the merger of IDFC Ltd with IDFC FIRST Bank.
• IDFC FIRST Bank is in the business of providing banking services, while its parent IDFC Ltd (IDFCL) is an RBI-registered non-banking financial company.
• The deal is subject to conditions, including the merger of IDFC Financial Holding into IDFC Ltd in the first step and subsequently, the amalgamation of IDFCL with IDFC FIRST Bank. Further, CCI also approved the cancellation of the existing shares held by IDFC Financial Holding in IDFC FIRST Bank and then the issue of new shares of the bank to IDFCL’s shareholders.
• IDFC Financial Holding is a non-operative financial holding company registered with the Reserve Bank of India (RBI).
• In July, IDFC FIRST Bank announced the merger of its parent IDFC Ltd with itself in an all-stock transaction. Also, boards of IDFC FIRST Bank and IDFC have approved the reverse merger and said the composite scheme of amalgamation includes the merger of IDFC and IDFC Financial Holding Company with IDFC First Bank.

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Appointments – Daily Current Affairs October 18

6. Which Oscar-winning actress recently became a member of the International Olympic Committee (IOC)?
A) Meryl Streep
B) Nicole Kidman
C) Cate Blanchett
D) Michelle Yeoh
E) Angelina Jolie
Answer: D) Michelle Yeoh

• Oscar-winning actress Michelle Yeoh has become an International Olympic Committee (IOC) member after being voted in on the final day of the 141st IOC Session
• The 61-year-old Malaysian, formerly a junior squash champion, was among eight newly elected members
• She also is an international campaigner for road safety in partnership with her husband, Jean Todt, the former head of the Ferrari team in Formula One racing. He also previously served as president of FIA, the governing body of motorsports.
• The only unanimous vote was the 76-0 result for Cecilia Tait, a three-time Olympian in volleyball and a former congresswoman from Peru. Tait helped Peru win a silver medal at the 1988 Seoul Olympics.
• The first Israeli to win an Olympic medal, Yael Arad, also was elected, 71-5. Now president of the Israeli Olympic committee, she won silver in judo at the 1992 Barcelona Olympics.
• Other new members include Hungarian government sports executive BalázsFürjes, German sports official Michael Mronz and Tunisian lawyer MehrezBoussayene.
• Two recently elected presidents of governing bodies in Olympic sports also got membership: Petra Sörling of Sweden from table tennis and Kim Jae-youl of South Korea from the International Skating Union.

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7. Who was elected as the youngest president of Ecuador?
A) Rafael Correa
B) Guillermo Lasso
C) Lenín Moreno
D) Daniel Noboa
E) Jaime Roldós
Answer: D) Daniel Noboa

• Businessman Daniel Noboa, 35, will become the youngest president in Ecuador’s history
• With more than 97% of votes counted, Mr Noboa, a centrist, had a lead of four percentage points over his left-wing rival, Luisa González.
• Mr Correa, who governed Ecuador from 2007 to 2017
• He belongs to the brand-new National Democratic Action Alliance, an alliance which incorporates parties from both the left and the right political spectrums
• Before entering politics, he established himself as a businessman, founding his own company at the age of 18 — DNA Entertainment Group, an event organising company.
• He also served as the Shipping Director and commercial and logistics director of Noboa Corporation between 2010 and 2018.
• He is a little-known politician with only a short two-year political stint to his name — a member of the National Assembly of Ecuador between 2021 and 2023.

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Awards – Daily Current Affairs October 18

8. RBI Governor Shaktikanta Das was awarded for achieving an ‘A+’ ranking in which report for the year 2023?
A) Global Finance Central Banker Report Cards
B) World Economic Forum Financial Index
C) International Monetary Fund Banking Assessment
D) Financial Stability Board Annual Review
E) Moody’s Investor Services Central Banking Rankings
Answer: A) Global Finance Central Banker Report Cards

• Reserve Bank of India (RBI) Governor Shaktikanta Das received the Award for being ranked ‘A+’ in the Global Finance Central Banker Report Cards 2023 in Marakkesh city of Morocco.
• The award recognizes those central bank governors whose strategies outperformed their peers through originality, creativity, and tenacity
• The awards were announced in the month of September and along with RBI Governor Shaktikanta Das, two other central bankers- Thomas J. Jordan of Switzerland and Nguyen Thi Hong of Vietnam earned an ‘A+’ grade in the Global Finance Central Banker Report Cards 2023.
• The Central Banker Report Card, which have been issued by Global Finance on an annual basis since 1994, assess and assign grades to the central bank leaders in 101 significant regions and nations. It encompasses entities like the European Union, the Eastern Caribbean Central Bank, the Bank of Central African States, and the Central Bank of West African States.

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International Affairs – Daily Current Affairs October 18

9. In which country has an inter-ministerial group been established to develop a “well thought-out view” on important matters for global climate negotiations?
A) United States
B) China
C) India
D) Brazil
E) United Kingdom
Answer: C) India

• India has set up an inter-ministerial group to develop a ”well thought-out view” on important matters to be discussed during global climate negotiations
• Constituted in August, the inter-ministerial group on climate change comprises members from all the ministries and departments concerned, including the Ministry of Environment, Forests and Climate Change, Ministry of Power, Ministry of New and Renewable Energy, and the Department of Economic Affairs, a source told PTI.
  The group will hold discussions mainly on five issues — mitigation, adaptation, loss and damage, climate finance and Article 6 of the Paris Agreement.
• Five sub-groups, one for each topic, have been formed to hold detailed discussions. Each sub-group has five to six officials at the joint secretary level

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National Affairs – Daily Current Affairs October 18

10. What did the Union Cabinet approve chaired by Prime Minister Narendra Modi?
A) A healthcare reform initiative
B) An urban development project in Delhi
C) The Green Energy Corridor (GEC) Phase-II – Inter-State Transmission System (ISTS)
D) A new railway network in Ladakh
E) A national highway expansion project in Ladakh
Answer: C) The Green Energy Corridor (GEC) Phase-II – Inter-State Transmission System (ISTS)

• The Union Cabinet, chaired by Prime Minister Narendra Modi, approved the project on Green Energy Corridor (GEC) Phase-II – Inter-State Transmission System (ISTS) for 13 gigawatt renewable energy project in Ladakh.
• The project is targeted to be set up by financial 2029-30 with a total estimated cost of Rs 20,773.70 crore and central financial assistance at 40 per cent of the project cost – Rs 8,309.48 crore.
• Keeping in view the complex terrain, adverse climatic conditions and defence sensitivities of the Ladakh region, Power Grid Corporation of India Limited (POWERGRID) will be the implementing agency for this project.
• The transmission line for evacuating this to-be-produced power will pass through Himachal Pradesh and Punjab up to Kaithal in Haryana, where it will be integrated with the national grid.
• An interconnection is also planned from this project in Leh to the existing Ladakh grid so as to ensure a reliable power supply to Ladakh.
• The project will contribute to achieving the target of 500 GW of installed electricity capacity target from non-fossil fuels by the year 2030.
• Prime Minister Modi, during his Independence Day Speech in 2020, announced the setting up of a 7.5 GW solar Park in Ladakh.
• After an extensive field survey, the Ministry of New and Renewable Energy (MNRE) prepared a plan to set up a 13 GW renewable energy generation capacity along with a 12 GWh battery energy storage system in Pang, Ladakh
• India aims to meet its 50 per cent energy needs through renewable sources by 2030.
• The government will spend Rs 3,760 crore as viability gap funding and it will be a 100 per cent central grant. The viability gap funding is capped at 40 per cent of the total capital cost of the project.
• Viability gap funding is given to support infrastructure projects that are economically justified but fall marginally short of finances. At the COP26 summit in Glasgow in 2021, Prime Minister Narendra Modi had committed to an ambitious five-part “Panchamrit” pledge, including reaching 500 GW of non-fossil electricity capacity, to generate half of all energy requirements from renewables, to reduce emissions by 1 billion tons by 2030.
  India also aims to reduce the emissions intensity of GDP by 45 per cent. Finally, India commits to net-zero emissions by 2070

Centre approves setting up of Khelo India State Excellence Centre at Spithuk in Leh district of Ladakh

• In Ladakh, the newly constructed open stadium located at Spithuk in the Leh district has received approval from the Central Government for the establishment of the Khelo India State Excellence Center (KISCE) focusing on athletics, boxing, and archery.
• In Ladakh, the newly constructed open stadium located at Spithuk in the Leh district has received approval from the Central Government for the establishment of the Khelo India State Excellence Center (KISCE) focusing on athletics, boxing, and archery.
• In this regard, a Memorandum of Understanding will be signed between the Sports Authority of India and the Department of Youth Services and Sport, UT Ladakh, in the near future.
• This initiative represents a groundbreaking scientific approach to the development of sports in the Union Territory and provides a platform for emerging young talents to thrive in the realm of sports, following the establishment of the Khelo India centers for ice hockey, archery, athletics, table tennis, and football in the Union Territory.

Cabinet approves Productivity Linked Bonus (PLB) of Rs 1968.87 Crores for railway employees

• The Union Cabinet chaired by Prime Minister Shri Narendra Modi has approved Productivity Linked Bonus (PLB) equivalent to 78 days’ wages for the financial year 2022-23 to all eligible non-gazetted Railway employees namely Track maintainer, Loco Pilots, Train Managers (Guards), Station Masters, Supervisors, Technicians, Technician Helpers, Pointsman, Ministerial Staff and other Group ‘C’ staff (excluding RPF/RPSF personnel).
• In recognition of this excellent performance by the Railway staff, Union Government has approved payment of PLB of Rs 1968.87 crore to 11,07,346 railway employees.
• The performance of Railways in the year 2022-2023 was very good. Railways loaded a record cargo of 1509 Million Tonnes and carried nearly 6.5 Billion Passengers.

Cabinet approves release of an additional instalment of Dearness Allowance and Dearness Relief due from 01.07.2023

• The Union Cabinet, chaired by the Prime Minister, Shri Narendra Modi has approved to release an additional instalment of Dearness Allowance (DA) to Central Government employees and Dearness Relief (DR) to pensioners w.e.f. 01.07.2023 representing an increase of 4% over the existing rate of 42% of the Basic Pay/Pension, to compensate against price rise. This increase is in accordance with the accepted formula, which is based on the recommendations of the 7th Central Pay Commission.
• The combined impact on the exchequer on account of both Dearness Allowance and Dearness Relief would be Rs.12,857 crore per annum. This will benefit about 48.67 lakh Central Government employees and 67.95 lakh pensioners.

Cabinet approves Minimum Support Prices (MSP) for Rabi Crops for Marketing Season 2024-25

• The Cabinet Committee on Economic Affairs, chaired by the Hon’ble Prime Minister Shri Narendra Modi, has approved the increase in the Minimum Support Prices (MSP) for all mandated Rabi Crops for Marketing Season 2024-25.
• Government has increased the MSP of Rabi Crops for Marketing Season 2024-25, to ensure remunerative prices to the growers for their produce.
• The absolute highest increase in MSP has been approved for lentil (masur) at Rs.425 per quintal followed by rapeseed & mustard at Rs.200 per quintal.
• For wheat and safflower, an increase of Rs.150 per quintal each has been approved. For barley and gram an increase of Rs.115 per quintal and Rs.105 per quintal respectively, has been approved.
• Creating “MSP more effective and transparent” was one of four mandatory sub-groups that the Minimum Support Price (MSP) committee established.
  Sanjay Agrawal, a former agricultural secretary, oversaw the group that reviewed methods to “promote zero budget based farming,” “change” crop patterns to take into account the nation’s shifting demands, and make MSP more “effective and transparent.”

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11. Which organization did the Department of Land Resources sign a pact with to monitor the Watershed Development Component (WDC) projects under the Pradhan MantriKrishiSinchayeeYojana?
A) National Institute of Rural Development and Panchayati Raj
B) Indian Council of Agricultural Research
C) National Remote Sensing Centre
D) Central Water Commission
E) National Agricultural Cooperative Marketing Federation of India Ltd.
Answer: C) National Remote Sensing Centre

• The Department of Land Resources signed a pact with the National Remote Sensing Centre to monitor the Watershed Development Component (WDC) projects under the Pradhan MantriKrishiSinchayeeYojana
• National Remote Sensing Centre (NSRC) will monitor the watershed development projects through high-resolution satellite data and customize software tools for monitoring the projects on the Bhuvan website – an Indian web-based utility, which allows users to explore a set of geographic content prepared by the Indian Space Research Organisation (Isro).
• They will also facilitate online image comparison and visualisation with respect to detailed project reports, customise the Bhuvan web page ‘Srishti’ for WDC 2.0 projects, and customise the mobile application Drishti for field data collection and data transfer to Bhuvan.
• Pradhan MantriKrishiSinchayeeYojana (PMKSY) was launched in 2015-16 to enhance physical access to water on farms, expand cultivable areas under assured irrigation, improve on-farm water use efficiency, and introduce sustainable water conservation practices.
• It is an amalgamation of ongoing schemes like the Accelerated Irrigation Benefit Programme (AIBP) of the Ministry of Water Resources, River Development & Ganga Rejuvenation (MoWR, RD&GR), Integrated Watershed Management Programme (IWMP) of the Department of Land Resources (DoLR) and the On Farm Water Management (OFWM) of Department of Agriculture and Cooperation (DAC).
• The scheme is being implemented by the Ministries of Agriculture, Water Resources and Rural Development.
• The Ministry of Rural Development is implementing the Watershed Development Component (WDC), which includes water conservation, and the construction of farm ponds, water harvesting structures, small check dams, and contour bunding, among others.

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12. What areas did IBM collaborate with the IT Ministry in through three pacts?
A) Renewable energy, cybersecurity, and cloud computing
B) Aerospace, blockchain technology, and nanotechnology
C) Semiconductors, Artificial Intelligence, and quantum computing
D) Healthcare, robotics, and 5G technology
E) Education, e-commerce, and data analytics
Answer: C) Semiconductors, Artificial Intelligence, and quantum computing

• US multinational technology giant IBM inked three pacts with IT Ministry in areas of semiconductors, Artificial Intelligence and quantum computing.
• The move assumes significance as India is taking decisive steps to position itself in cutting-edge new technologies.
• The three MoUs signed were in the areas of semiconductors, AI and quantum computing.

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13. Who launched the 4th Agriculture Road Map of Bihar for the period 2023-28?
A) Prime Minister Narendra Modi
B) Chief Minister of Bihar
C) President DroupadiMurmu
D) Minister of Agriculture and Farmers Welfare
E) Governor of Bihar
Answer: C) President DroupadiMurmu

• President DroupadiMurmu launched the 4th Agriculture Road Map of Bihar for the period 2023-28 and appreciated the performance of the state in agriculture sector since the first agriculture road map was launched in 2008.

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14. Which ministry in India launched the IndiaSkills 2023-24 program and honored the winners of WorldSkills 2022?
A) Ministry of Education
B) Ministry of Home Affairs
C) Ministry of Skill Development & Entrepreneurship
D) Ministry of Commerce and Industry
E) Ministry of Health and Family Welfare
Answer: C) Ministry of Skill Development & Entrepreneurship

• The Ministry of Skill Development & Entrepreneurship launched the IndiaSkills 2023-24 programme and felicitated WorldSkills 2022 winners.
• India had secured 11th position in the global competition last year.
• WorldSkills Competition is the largest skill competition in the world, held once every two years. It is conducted by WorldSkills International, which has 86 member countries.
• These competitions provide both a benchmark for high performance and an objective way to assess vocational excellence. The duration of the competition duration is 4 days spanning 16 to 22 hours.
• WorldSkills competition 2022 was conducted from September to November 2022 across Europe, North America, and East Asia comprising over 1,000 competitors from 58 countries in 61 skills.
• The competition was hosted by 15 countries in more than 20 cities. India participated in 50 skills and secured 11th position with 2 Silver Medals, 3 Bronze Medals and 13 Medallions for Excellence at the WSC 2022, its best ranking so far at the WorldSkills Competition.
• Indian Competitors, who represented the country at WorldSkills Competition 2022, were selected via IndiaSkills Competition 2021.
• A total of 165 IndiaSkills National Competition winners were trained for the WorldSkills Competition at designated training venues developed in line with WorldSkills standards under the mentorship of WorldSkills India Experts and trainers.
• More than 200 Industry and Academic Partners like Toyota Kirloskar, Mahindra, Saint Gobain, Larsen & Toubro, Maruti Suzuki, Infosys, IIT-Palakkad, Government Tool Room and Training Centre, National Institute of Fashion Technology, Lincoln Electric, CISCO, BMW, Volkswagen, Berger Paints and others collaborated to train India’s competitors, sponsoring approximately Rs. 20 Crore in terms of training infrastructure, subject matter expertise, international training, raw material and tool kits.
• Fifty-six competitors, 50 Experts and 11 Interpreters participated among which 19% were female (11 competitors). Some of the competitors also participated in new-age skills like Robot System Integration, Additive Manufacturing, Industry 4.0, Digital Construction, Mobile Application Development and Renewable Energy.

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15. The Shri Ram JanmbhoomiTeerthKshetra received approval from which ministry to accept contributions from foreign sources for the construction of the Ram temple in Ayodhya?
A) Ministry of Finance
B) Ministry of External Affairs
C) Ministry of Home Affairs
D) Ministry of Culture
E) Ministry of Religious Affairs
Answer: C) Ministry of Home Affairs

• The home ministry has granted approval to the Shri Ram JanmbhoomiTeerthKshetra to receive contributions from foreign sources for the construction of Ram temple in Ayodhya
• Such contributions can be sent to a designated bank account of the trust in the SBI’s main branch located in Delhi

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16. Who addressed the 5th edition of the India STEM Summit 2023 in Delhi?
A) Prime Minister Narendra Modi
B) Minister of Education Dharmendra Pradhan
C) Minister of Science and Technology Jitendra Singh
D) Union Minister Nitin Gadkari
E) Minister of Women and Child Development SmritiIrani
Answer: D) Union Minister Nitin Gadkari

• Union Minister Nitin Gadkari addresses 5th edition of India STEM Summit 2023 in Delhi
  knowledge and innovation are the two important pillars for the growth of any nation.
• STEM Summit pertains to integrating Science, Technology, Engineering, and Math (STEM) in the education sector that results in developing curiosity, inquisitiveness, critical-thinking, problem-solving capacities, imagination, questioning and exploration skills among learners.

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17. Where was the India-UK 2 plus 2 Foreign and Defence Dialogue held?
A) London
B) New York
C) New Delhi
D) Mumbai
E) Edinburgh
Answer: C) New Delhi

• India-UK 2 plus 2 Foreign and Defence Dialogue was held in New Delhi.
• The two sides discussed possibilities to boost collaboration, particularly in areas of trade and investment, defence, critical and emerging technologies, civil aviation, health, energy, culture and strengthening people connections.
• The 2 plus 2 dialogue is a mechanism to discuss and review all aspects of the India-UK Comprehensive Strategic Partnership.
• According to the External Affairs Ministry, both countries expressed satisfaction with the regular high-level political exchanges and interactions which have provided guidance and momentum to India-UK multifaceted ties.
• The India-UK relationship was elevated to a Comprehensive Strategic Partnership during the India-UK virtual summit held between Prime Minister Narendra Modi and his then-British counterpart Boris Johnson in May 2021.
• At the summit, the two sides adopted a 10-year roadmap to expand ties in the key areas of trade and economy, defence and security, climate change and people-to-people connections, among others.
• The Indian delegation at the dialogue was co-chaired by Piyush Srivastava, Joint Secretary (Europe West) at the MEA and Vishwesh Negi, Joint Secretary (International Cooperation) at the defence ministry.
• The UK delegation was co-chaired by Ben Mellor, India Director at the Indian Ocean Directorate in the Foreign, Commonwealth and Development Office (FCDO) and Lt General Rob Magowan, Deputy Chief of Defence Staff, Finance and Military Capability at the British Ministry of Defence.

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