Daily Current Capsules 02^nd May 2022

Bilateral Relations
India-UAE Comprehensive Economic Partnership Agreement (CEPA)

What's the NEWS

• The historic India-UAE Comprehensive Economic Partnership Agreement (CEPA) which was signed between the two nations on 18 February 2022, officially entered into force on 01 May 2022
• Department of Commerce flagged off the first consignment of goods comprising of Jewellery products from India to UAE under the India-UAE CEPA at a function in New Customs House in New Delhi
• The aforementioned consignment which will now attract zero customs duty under this Agreement
• Benefits
• India will benefit from preferential market access provided by the UAE on over 97 % of its tariff lines which account for 99% of Indian exports to the UAE in value terms particularly from labour-intensive sectors such as Gems and Jewellery, Textiles, leather, footwear, sports goods, plastics, furniture, agricultural and wood products, engineering products, pharmaceuticals, medical devices, and Automobiles.
• As regards trade in services, Indian service providers will have enhanced access to around 111 sub-sectors from the 11 broad service sectors.
• CEPA is expected to increase the total value of bilateral trade in goods to over US$100 billion and trade in services to over US$ 15 billion within five years.
• India was negotiating trade agreements at a very fast pace with complementary economies and that talks were ongoing with UK, Canada and EU.

Governance
Symposium on Smart City Revolution

 

What's the NEWS

• A symposium on ‘Urban Development in NE States: Smart City Revolution', organised under the ongoing Azadi Ka Amrit Mahotsav: North East Festival in the Sikkim capital.
• The weeklong festival in all the eight NE States has been organised by Ministry of DoNER.

Highlights

• Ministry of DoNER also launched the Online Building Permission System (OBPS) of Government of Sikkim
• Sikkim Government and Gangtok Municipal Corporation is the first State to implement OBPS in the region.
• A new scheme- Prime Minister's Development Initiatives for North-East ( PM-DevINE)- announced by the Finance Minister in the Union Budget with an initial allocation of Rs 1500 crores will fund infrastructure, guided by the PM Gati Shakti Mission, and social development projects based on the felt need of the North-East.
• The South Asian Sub-Regional Economic Cooperation (SASEC) road connectivity programme will also help in making the region more connected and accessible to the rest of the country, Shri Puri pointed out.

Government Interventions
SemiconIndia Conference 2022

 

What's the NEWS

• Prime Minister of India inaugurated SemiconIndia Conference 2022, the global semiconductor conclave designed to bring together key stakeholders to showcase existing capabilities, ideate innovations and discuss global best practices.
• Semicon India 2022 being organised in Bengaluru from 29th April to 1st May 2022 by Ministry of Electronics & IT

Know! about the conference

• The flagship conclave with the theme Catalyzing India's Semiconductor Ecosystem, is being held in Bengaluru from 29th April to 1st May 2022.
• The conference aligns with the larger national narratives such as Make in India and Atmanirbhar Bharat and is pegged as the launchpad to India Semiconductor Mission (ISM).
• IESA launched an industry report on ‘Semiconductor manufacturing supply chain - India's opportunity in the global market".
• MOU signed between SEMI and ELCINA to promote semiconductor ecosystem in India
• MOU between CDAC and Qualcomm for partnership in semiconductors which will target semiconductor design startups, in line with the objectives of the PLI scheme
• MOU between AICTE and SEMI and ISM for training and skilling tech workforce for the semiconductor sector

 

Know! about SEMI and IESA

• In the backdrop of Semicon India 2022 and the recently announced Scheme for Promotion of Semiconductor Eco-System in India with a massive outlay of Rs 76,000 Crores, SEMI President and CEO met India Electronics & Semiconductor Association (IESA) leaders to explore collaboration opportunities for promoting the semiconductor and electronics industry.

SEMI

• SEMI, headquartered in Milpitas, California, USA, is the leading global industry association comprising companies involved in the semiconductor, electronics design and manufacturing supply chain connecting a vast global community from electronics domain serving more than 2,500 member companies and 1.3 million professionals worldwide.

IESA

• IESA is the premier trade body committed to the development of a vibrant Indian Semiconductor and Electronics System Design and Manufacturing (ESDM) ecosystem and evangelizing the dream of establishing "Brand India" that is recognized worldwide as a go-to destination for electronic products.
• IESA acts as a trusted knowledge partner to the Central and State Governments helping device policies and incentives for the ESDM industry to help attract investments into India.

Governance
Open Network for Digital Commerce (ONDC)

 

What's the NEWS

• The government plans to roll out its indigenously developed online e-commerce network for the public in 100 Indian cities by Diwali to provide millions of kirana stores and consumers an alternative to multinational platforms such as Amazon and Flipkart.

Know! more about it

• Union commerce and industry minister announced the test-launch of the open-source system.
• The beta launch will unveil the IT applications of the Open Network for Digital Commerce (ONDC) and registry covering a small number of retailers and customers initially in Bengaluru
• After UPI (Unified Payment Interface), another game changing idea to democratise commerce - ONDC soft launch to select consumers, sellers and logistics providers.
• The project is massive as it will provide a wide choice to all consumers and retailers and the formal launch will take place after successful testing of the system
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• End-to-end testing is being done to create a playbook with an aim to launch it in 100 cities in six months.
• The initial test launch, which was started in Bengaluru, will also cover cities such as Delhi, Coimbatore, Bhopal and Shillong.
• The system will have multiple choices for both retailers and customers in terms of cataloguing, inventories, warehousing, suppliers, logistics and payments.

 

Location in NEWS
East Kolkata Wetlands (EKW)

What's the NEWS

• A recent audit report of the Comptroller and Auditor General (CAG) has pointed out illegal construction and violations of environmental norms in two Ramsar sites in West Bengal, the East Kolkata Wetlands (EKW) and the Sunderbans.

Know! about EKW

• The EKW, a unique peri-urban ecosystem that lies on the eastern fringes of Kolkata, covers an area of about 12,500 hectares.
• It is spread over 37 mouzas of the State's South and North 24 Parganas districts.
• The CAG report pointed out that failure to delineate boundaries of the EKW and uncontrolled transfer of land resulted in its change of character and lack of effective action by the EKWMA (East Kolkata Wetland Management Authority).
• In absence of effective measures by EKWMA, waterbodies were dried up and filled illegally. Since 2007, EKWMA has identified 357 cases of violation, out of which 101 cases were identified between December 2015 and March 2020

 

Miscellaneous Facts
Disinvestment of Pawan Hans Limited

What's the NEWS

• The government has approved the highest bid of Star9 Mobility Private Limited for sale of entire 51 percent of government's shareholding of Pawan Hans Limited and transfer of management control.
• The Alternative Mechanism, empowered by the Cabinet Committee on Economic Affairs, approved the strategic buyer for disinvestment of Pawan Hans Limited.

Know! about Pawan Hans

 

 

• Pawan Hans Limited is a joint venture of Government and Oil and Natural Gas Corporation Limited.
• Government holds 51 percent of the shares in the company and ONGC holds the balance 49 percent shareholding.
• ONGC has earlier decided to offer its entire shareholding to the successful bidder identified in the government's strategic disinvestment transaction.
• Pawan Hans Limited has incurred losses in the last three financial years. The company has a fleet of 42 helicopters.

 

Location in NEWS
Cabinet approves opening of Indian Mission in Lithuania

What's the NEWS

• The Union Cabinet chaired by the Prime Minister Shri Narendra Modi has accorded approval to the opening of a new Indian Mission in Lithuania in 2022.
• Opening of Indian Mission in Lithuania will help expand India's diplomatic footprint, deepen political relations and strategic cooperation, enable growth of bilateral trade, investment and economic engagements
• Indian Mission in Lithuania will also better assist the Indian community and protect their interests.

Science and Technology

 

Cabinet approves Amalgamation of Consultancy Development Centre (CDC) with Council of Scientific and Industrial Research (CSIR) of Department of Scientific and Industrial Research (DSIR)

 

 

 What's the NEWS

 

• The amalgamation of two societies shall not only streamline in Department but also as per Prime Minister's Mantra of Minimum Government Maximum Governance.
• CSIR will be befitted by experienced staff of CDC in the field of consultancy in education, export of technologies etc.

Know! about CSIR and CDC

• CSIR and CDC are two separate Autonomous bodies (Abs) under Department of Scientific and Industrial Research (DSIR), Ministry of Science and Technology.
• CSIR was set up in 1942 under Societies Registration Act XXI of 1860 as a National R&D organization for scientific industrial research for India's economic growth and human welfare.
• CDC was set up in 1986 as a society with the support of DSIR for developing, strengthening and promoting consultancy skills and capabilities in the country.
• CDC was approved as an Autonomous Institution of DSIR by Union Cabinet on 13th October 2004.
• Memorandum and Articles of Association of CDC as Autonomous Institution was issued on 16th January, 2008.
• Based on the recommendations of the 14th Finance Commission, NITI Aayog conducted a reviews of autonomous bodies (Abs) under various Government Departments
• The Review Committee recommended that "CDC could merge with CSIR and continue, as it has visible potential."

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