India join the Djibouti code of conduct as observer member. DCOC is a grouping on maritime matters comprising 18 member states adjoining Red sea, Gulf of Aden, the east coast of Africa and island countries in the OIR. India join japan, Norway, the UK and the USA as observers to the DCOC.
The Djibouti code, formed in January 2009, is aimed to suppression of piracy and armed robbery of cargo in the western Indian ocean region, the gulf of Aden and the red sea from Somalian pirates.
India joining DCOC for enhanced maritime security in the Indian ocean region.
Initially purpose was the security of oil tankers and cargo ships passing nearby Somalia coast after instability in government and uncontrolled administration in Somalia many pirates were born and they started hijacking cargo ship and oil tankers in western region of Indian ocean and demand for Ransom or sometimes they killed ship members.
According a report published by world bank in 2013, Somali pirates cost world economy by estimated $18 billion a year and most of loss beared by south African countries.
Govt puts” National security” clause in defence FDI hike to 74 percent
Under this existing plan Defence industry can bring 49% FDI through automatic route while upto 74% FDI can bring through government approval route. this step taken for access of modern technology in Defence sector through many other foreign Defence companies investment in Indian companies. this new policy approved by union cabinet and new conditions also approved by Ministry of commerce and industry. the new condition added in ‘Defence hike to 74%’ due to national security issue.
“Foreign investment in the Defence Sector shall be subject to scrutiny on ground of National Security and the Government reserves the right to review any foreign investment in the Defence Sector that may affect national security,” says the new condition.
INDIA PLANNED TO BUILD A NEW TRANSSHIPMENT TERMINAL IN ANDAMAN NICOBAR ISLANDS
In the august 2020, PM Modi unveiled plans for the development of a new transshipment terminal in Andaman Nicobar island to extend facilities of maritime trade in Bay of Bengal region and boost maritime infrastructure of India.
It is a part of a slew of projects that India is implementing in the archipelago to boost economic development in Andaman, the transshipment port project estimated to cost 100 billion rupees. It would also help India address some of the problems dogging its maritime trade. this port also developed as naval base so it will help to block china aggression in Bay of bengal and it maybe a energy threat to China. This port will very near to other countries like 22 nautical miles from Myanmar, 90 nautical miles from Indonesia, 270 nautical miles from Thailand.