Relevance IN - Prelims (about RCEP) + Mains (GS II Important international institutions, agencies bilateral, regional and global grouping )
What's the NEWS

• India has decided not to join the Regional Comprehensive Economic Partnership (RCEP) deal as negotiations failed to address New Delhi's outstanding issues and concerns.

• Prime Minister Narendra Modi made the announcement during his speech at the RCEP Summit in Bangkok
• India's core issues would not be compromised and the latest decision has been taken in the interest of the nation.
• The RCEP agreement with China and ASEAN countries does not reflect its original intent, and the outcome is not balanced.
• Prime Minister Narendra Modi took part in 16^th India-ASEAN summit and 14^th East Asia summit.

• Negotiations on the details of the RCEP have been on since 2013, and all participating countries aim to finalise and sign the deal by November.
• The purpose of RCEP is to create an "integrated market" spanning 16 countries.
• The Regional Comprehensive Economic Partnership (RCEP) is a trade deal that is currently under negotiation among 16 countries - the 10 member countries of the Association of Southeast Asian Nations (ASEAN), and the six countries with which the ASEAN bloc has free trade agreements (FTA).
• The ASEAN, which includes Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam, has FTAs with India, Australia, China, South Korea, Japan and New Zealand.

• Negotiations on the details of the RCEP have been on since 2013, and all participating countries aim to finalise and sign the deal by November.
• ASEAN says the deal will provide "a framework aimed at lowering trade barriers and securing improved market access for goods and services for businesses in the region".
• The negotiations are focussed on areas like trade in goods and services, investment, economic and technical cooperation, intellectual property, competition, dispute settlement, e-commerce, and small and medium enterprises.
• It is billed as the "largest" regional trading agreement ever - these countries account for almost half of the world's population, contribute over a quarter of world exports, and make up around 30% of global Gross Domestic Product (the value of all goods and services produced in a year).
• Of the 25 chapters in the deal, 21 have been finalised. Chapters on investment, e-commerce, rules of origin, and trade remedies are yet to be settled

• Sections of Indian industry feel that being part of RCEP would allow the country to tap into a huge market, if the domestic industry becomes competitive. Pharmaceuticals and cotton yarn are confident of gains, and the services industry too, may have new opportunities.

• Several industries feel India needs to be mindful of the amount of access it gives to its market.
• There were fear that some domestic sectors may be hit by cheaper alternatives from other RCEP countries.
• Apprehensions have been expressed that cheaper Chinese products would "flood" India.
• Critics are also not confident that India would be able to take advantage of the deal, given its poor track record of extracting benefits from the FTAs with these countries.
• India's trade gap with these countries may widen if it signs the RCEP deal
• Industries like dairy and steel have demanded protection. The textile industry, which has already raised concerns about growing competition from neighbouring countries with cheaper and more efficient processes, fears the deal would impact it negatively.

• India's decision to not sign RCEP will benefit the Indian farmers, small businesses, MSMEs, dairy and the manufacturing sector, data security, pharmaceutical, steel & chemical industries.
• India had concerns about getting swamped by imports under the agreement, which will put the small Indian businesses and farmers at risk.

• The Regional Comprehensive Economic Partnership (RCEP) is a proposed free trade agreement (FTA) between ASEAN nations and its FTA partners.
• The ten ASEAN member nations include Singapore, Thailand, Vietnam, the Philippines, Cambodia, Brunei, Laos, Malaysia, Myanmar and Indonesia.
• The FTA partners of the ASEAN nations included China, Japan, Australia, New Zealand, South Korea and India. After India's pull out, ASEAN nations only have five FTA partners now.
• For now, the remaining 15 nations have decided to go ahead with the agreement without India. China, however, announced that India is welcome to join the RCEP whenever it is ready.
• The negotiations for the RCEP agreement were formally launched in November 2012 at the ASEAN Summit in Cambodia.

Defence
DRDO's Igniter Complex at HEMRL, Pune inaugurated

Relevance IN - Prelims (about DRDO'S Igniter complex) + Mains (GS III Science and technology)

What's the NEWS

• The Defence Research & Development Organisation (DRDO) Igniter Complex at High Energy Materials Research Laboratory (HEMRL) in Pune launched

Know! about HEMRL and the ignition phenomenon

• HEMRL is a premier laboratory of DRDO and primarily engages in developing Rocket and Gun Propellants, Pyrotechnic Devices, High Explosive Systems and synthesis of high energy molecules.
• HEMRL has created a state of the art facility for design, processing and evaluation of ignition systems.
• The facility consists of process, assembly & storage buildings and a design centre.
• Ignition is a crucial and highly critical phenomenon in the ignition chain of Rocket motor.
• HEMRL has developed various fuel /oxidizer based igniter compositions using organic binders.
• The laboratory has developed several ignition systems to ensure reliable initiation of rocket motors of various tactical as well as strategic missiles.
• Ignition system for Agni, Prithvi, Akash, Nag, Pinaka, Long Range Surface-to-Air Missile (LRSAM), etc. have been designed and developed in HEMRL.

Economic Development
Finance Minister Launches two new IT Initiatives -ICEDASH & ATITHI

Relevance IN - Prelims (ICEDASH and ATITHI) + Mains (GS III economic development)
What's the NEWS

• Union Minister of Finance and Corporate Affairs, Smt Nirmala Sitharaman unveiled two new IT initiatives - ICEDASH and ATITHI - for improved monitoring and pace of Customs clearance of imported goods and facilitating arriving international passengers by electronic filing of Customs baggage and currency declarations.
• ICEDASH and ATITHI would be key drivers for further improvement especially as they reduce interface and increase transparency of Customs functioning.

Know! about ICEDASH & ATITHI

• ICEDASH is an Ease of Doing Business (EoDB) monitoring dashboard of the Indian Customs helping public see the daily Customs clearance times of import cargo at various ports and airports.

ICEDASH

• With ICEDASH, Indian Customs has taken a lead globally to provide an effective tool that helps the businesses compare clearance times across ports and plan their logistics accordingly.
• This dashboard has been developed by CBIC in collaboration with NIC. ICEDASH can be accessed through the CBIC website.

ATITHI

• With ATITHI, CBIC has introduced an easy to use mobile app for international travellers to file the Customs declaration in advance.
• Passengers can use this app to file declaration of dutiable items and currency with the Indian Customs even before boarding the flight to India. ATITHI is available on both, iOS and Android.

Environment Conservation
CHILE BACKS OUT AS COP25 HOST DUE TO RIOTS; SPAIN STEPS IN AS THE NEW HOST

Relevance IN - Prelims (about COP 25) + Mains (GS III Environment conservation)
What's the NEWS

• After Chile announced that it will not be able to host the United Nations Annual Conference of Parties (COP25), Spain has stepped in and offered to host instead.
• The country's offer has been accepted by Chile and the United Nations and it confirmed that COP25 will be held in Madrid, Spain on the same dates as before, between 2-13 December

Know! more about it

• Spain had offered to host COP25 in Madrid on the same dates as the original schedule after Chile decided to pull out from hosting the event due to the ongoing national unrest against the Government of Chile.
• Chile had informed its decision of not hosting the COP25 event in the view of the unrest in the country to UNFCCC on October 30, 2019.
• Chile withdrew from hosting two major international events- COP 25 and Asia-Pacific Economic Cooperation (APEC) Summit due to ongoing anti-governmental protests in the nation.
• An emergency has been declared in Chile, after hundreds of people took to the roads to demand the resignation of President Sebastian Pinera after the government announced a 30 percent increase in Metro fares in October 2019.
• Though the Government of Chile in remedial measure announced a 20 percent increase in the basic pension of the citizens and allowed free electricity and some subsidies in the medical sector, the public was not satisfied. The citizens in Chile have already been reeling under the pressure of inflation.
• The citizens have been demanding economic reforms and a new government.

Know! about COP25

• COP25 means the 25^th Conference of the Parties on climate change. The 2019 UN Framework Convention on Climate Change (COP25) will be 25^th United Nations Climate Change Conference, the 15^th meeting of the parties for the Kyoto Protocol (CMP15), and the second meeting of the parties for the Paris Agreement (CMA2).
  
  

KEEP Learning KEEP Evolving
TEAM CL IAS