India offers Mongolia $1 billion credit line, signs defence agreements

[Kickstarter101]

New Delhi, April 28 : Following delegation-level bilateral talks led by Minister of State for External Affairs V.K. Singh and Mongolian Foreign Minister Lundeg Purevsuren here on Thursday, India extended a line of credit (LoC) of USD 1 billion to Mongolia.

"During that visit the relationship was upgraded to strategic partnership and a series of important agreements including in the defence and security fields were signed," the statement said.

http://www.newkerala.com/news/2016/fullnews-56120.html

 

[Kickstarter101]

Also in other news:

India, Mongolia Launch Military Exercise With Counterterrorism Focus

 

[Dr Gupta]

Very good chess move

 

[Kickstarter101]

Very good chess move

Remember string of pearls that was meant to suffocate us?

 

[Dr Gupta]

Remember string of pearls that was meant to suffocate us?

Got washed away, we always will remain supreme in the Indian ocean due to our location and we have the significant islands off the key oil corridor where 70% of china's oil comes through.

 

[Jamwal's]

There are Joint military exercises on regular basis with Real "Khans"

 

[Ankit Kumar 002]

1 Billion USD....a big amount it is.
Wonder what they are gonna buy....

 

[Kickstarter101]

1 Billion USD....a big amount it is.
Wonder what they are gonna buy....

I think there is a clause that says that they must buy from India. All his money will be put into circulation inside the Indian economy, plus we get interest on that amount too. A win-win situation.

 

[Mirza Jatt]

good move.

 

[#hydra#]

Poor nation and we should help them by financially & militarily against the Chinese. That shamles Chineese even trying to steel Mongolian emperor Genghis Khan's legacy as theirs.

 

[Ankit Kumar 002]

I think there is a clause that says that they must buy from India. All his money will be put into circulation inside the Indian economy, plus we get interest on that amount too. A win-win situation.

With a GDP of 12.5 Billion USD, an 1 billion USD grant is huge.

It's win win for both sides.

 

[dadeechi]

Excellent.

India needs to drastically upgrade it's relations with the following countries

Mongolia, Vietnam, Myanmar, Tajikistan, Kyrgyzstan, Kazakhstan and Uzbekistan

 

[Ankit Kumar 002]

Excellent.

India needs to drastically upgrade it's relations with the following countries

Mongolia, Vietnam, Myanmar, Tajikistan, Kyrgyzstan, Kazakhstan and Uzbekistan

+TAIWAN

 

[Beast]

Remember string of pearls that was meant to suffocate us?

LOL.. Mongolia is landlocked by Russia and China. Russia now view China an more important partner than India. If China and Russia both agree to lock out the airspace of Mongolia, what can India do? As if India has the abilities to penetrate China airspace all the way and reach Mongolia?

I guess the USD 1 Billion went into the trash?

 

[cloud4000]

Find it hard to fathom how having a defence agreement with Mongolia will work given that it's a land-locked country. Is Russia giving India access via road and air?