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ISRO to Explore Space With Japan Agency JAXA

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The Indian Cabinet has been apprised of the MoU signed between the Indian Space Research Organisation (ISRO) and the Japanese Aerospace Exploration Agency (JAXA) for cooperation in the field of outer space exploration, which was signed on November 11, 2016 during PM Narendra Modi’s visit to Tokyo.

The MoU seeks to pursue future cooperation in outer space exploration activities and in pursuing space research activities in space science technology and applications including earth observation, satellite communication and navigation; exploration and space sciences; Research and development of space systems and space technology; and Space industry promotion.

ISRO and JAXA will bear the costs of their respective activities under this Memorandum, unless they decide otherwise in writing. Ability to fulfil their respective roles and activities under this Memorandum and its relevant separate Implementation Arrangement is subject to their respective funding procedures, the availability of appropriated funds and their respective national laws.

India and Japan have been cooperating in the field of space research for over 5 decades and carried out several studies in the field of atmospheric study, observation of universe and scientific investigation in remote sensing.

The formation of JAXA by Japan in 2003 opened up gates for joint studies and potential future cooperation in the field of outer space under a pact signed in October 2005 between ISRO and JAXA. Subsequent pacts addressing lunar exploration, satellite navigation, X-ray astronomy and Asia Pacific Regional Space Agency Forum (APRSAF) were also signed.

During the ISRO-JAXA bilateral meeting held at New Delhi on April 05, 2016, both sides prepared the draft of a new ‘Memorandum of Understanding (MoU) between ISRO and JAXA concerning cooperation in the field of outer space that was signed on November 11, 2016 at Tokyo during the visit of Prime Minister of India to Japan.

ONGC Videsh to Acquire 11% Stake in JSC Vankorneft

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India’s Cabinet Committee on Economic Affairs, chaired by Prime Minister Narendra Modi, has given its approval to an cquisition by ONGC Videsh Limited (OVL) for 11% stake in JSC Vankorneft from M/s Rosneft Oil Company (Rosneft), the National Oil Company (NOC) of Russian Federation (Russia). Rosneft operates Vankor fields, with Vankorneft, its wholly owned subsidiary.

OVL will be paying an amount of US$ 930 million for acquiring 11% stake in Vankorneft.

The acquisition of stake in Vankorneft will provide 3.2 Million Metric Ton of Oil Equivalent (MMTOE) to OVL by 2017. It will also provide an opportunity to Indian public sector Oil and Gas companies to acquire new technologies from Rosneft. The acquisition is in line the ONGC’s stated objective of adding high quality international assets to India’s Exploration and Production (E&P) portfolio and thereby augmenting India’s energy security.

Recently, an Indian Consortium comprising of Oil India Limited (OIL), Indian Oil Corporation Limited (IOCL) and Bharat PetroResources Limited (BPRL) acquired 23.9% stake in Vankorneft at a cost of US $ 2020.35 million which will give them 6.56 MMTOE. Earlier in May 2016, ONGC Videsh Ltd (OVL) completed the formalities on acquisition of 15% stake in Vankorneft at a cost of US $ 1.284 billion which gave OVL 4.11 MMTOE.

Foreign University Collaboration to be Cheaper Now: HRD Ministry

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HRD Ministry has announced new UGC conditions which will apply to any Indian institutue seeking foreign academic collaboration and award of joint degrees.

Indian Universities and Colleges need to approach the University Grants Commission (UGC) for starting twinning and collaborative arrangement with quality Foreign Educational Institutions (FEIs) in undergraduate and postgraduate programmes leading to the award of a degree.

The degree will be awarded by the Indian Educational Institutions (IEIs) alone; joint degrees are not permitted though the name of the collaborating FEI can be indicated on the degree, the logo and primacy should be of the Indian institution, said the ministry. Credits from collaborating FEI when jointly signed by the IEI shall form part of the transcript and FEI may also sign the transcript/credit issued by the IEI.

The step has been taken by the UGC in order to promote foreign collaborations with a view to increasing synergy between Indian and foreign academic institutions, to offer students additional choices, improve curriculum and the delivery of knowledge and educational content, said the ministry.

The UGC’s earlier regulations issued in 2012 will be amended now. For students seeking to study abroad, new measures mean lower cost to achieve that as the new provision will offer academic mobility through acquiring of credits and study at reputed institution abroad, said the statement. The dedicated UGC portal to receive applications and convey approvals will be launched shortly by the UGC.

However, the new norms will not be applicable to technical institutions, for which AICTE will leverage and bring out similar methodology and facilitative regulations. Universities/institutions that are recognized by UGC and FEIs intending to collaborate will be benefitted from this measure now.

The Regulations stipulate that only IEIs with ‘A’ grade or threshold accreditation should have experience of 6 years or at least 2 batches passed out and similarly ‘A’ grade or threshold level accreditation if the IEIs in their own country will be eligible for collaboration. A bench mark for quality has therefore been set for the collaborations. To maintain academic credibility and seriousness, a minimum duration of collaboration has been specified under one semester for postgraduate degree and 2 semesters for undergraduate degree.

"The UGC will examine complaints relating to academic collaborations being run in violation of these regulations and if prima-facie evidence of fraud is found, it will inform Central and State authorities for appropriate action under the framework of the law, including penal action, said the ministry that regulates and controls UGC.