Visit of Chancellor of Germany to India
Why in News?
The Chancellor of Germany, Mr. Olaf Scholz, is on a two-day State visit to India.This is Chancellor Scholz’s first visit to India in his current role.
India-Germany Bilateral Relations: Background
- Germany is one of India’s most important partners in Europe, owing to the strength of bilateral relations, as also Germany’s key role in the EU.
- India and Germany have had a ‘Strategic Partnership’ since May 2000.
- This has been further strengthened with the launch of Intergovernmental Consultations (IGC) in 2011 at the level of Heads of Government.
- On March 7, 2021, India and Germany marked the 70th anniversary of the establishment of diplomatic relations.
- As part of the celebrations, commemorative stamps were issued by both countries.
Economic & Commercial Relations:
- Germany is India’s largest trading partner in Europe and has consistently been among India’s top (10-12) global partners.
- Germany was the 11th largest trading partner in FY 2021-22 (12th during FY 2022-23 up to August 2022).
- Bilateral trade in 2021-22 was USD 24.85 billion registering an increase of 14.2% over FY 2020-21.
- Indian exports during this period increased by 21.6% reaching USD 9.88 billion and Indian imports increased by 9.7% to USD 14.97 billion.
- Germany is the 9th largest FDI source for India. The total FDI from Germany to India from April 2000-June 2022 is over USD 13 billion.
- Indian investments in Germany continue to grow, having surpassed the figure of USD 7 billion.
Development Cooperation
- Germany has committed a total volume of new funding of USD 1,368.02 million for 2021 for Financial & Technical Cooperation.
- Energy, sustainable economic and urban development, environment & management of natural resources are priority areas.
Security & Defence
- The MoU on Security Cooperation signed at the 3rd IGC held in Delhi in 2015 defines collaboration in this field.
- There are dialogue mechanisms on various aspects of security, including:
- Joint Working Group on Counter Terrorism;
- Cyber Consultations;
- Joint Steering Group on Disaster Management in Berlin (2016).
Science & Technology
- Bilateral Science and Technology cooperation is implemented under an Inter-Governmental Agreement on ‘Cooperation in Scientific Research and Technological Development’.
- The jointly funded Indo-German Science and Technology Centre (IGSTC) was set up in Gurgaon in September 2008.
Sister State/City Arrangements:
- The States of Karnataka and Bavaria, Maharashtra and Baden Wuerttemberg, and the cities of Mumbai and Stuttgart have twinning arrangements.
- Twin city relations between Coimbatore and Esslingen were established in 2016.
Education
- There are approximately 29,000 (2020) Indian students who are studying in Germany, a number which is rising each year.
- Around 800 German students are studying or doing internships in India.
- Instruments of faculty exchange and student mobility between India and Germany are:
- Visiting Advanced Joint Research (VAJRA) from DST and Scheme for Promotion of Academic and Research Collaboration (SPARC) from MoE
- New Passage to India (from the German side).
Key outcomes of the bilateral meeting between PM Modi and Chancellor Olaf Scholz
India-Germany agreed on a vision statement to Enhance Cooperation in Innovation & Technology
- Under the framework of the Inter-Governmental Agreement on ‘Cooperation in Scientific Research and Technological Development’, the two countries share a long history of cooperation in science and technology, research and innovation.
- This agreement was signed in May 1974.
Green and Sustainable Development Partnership (GSDP)
- The leaders discussed progress on GSDP – an umbrella partnership that provides political guidance and steer to robust ties in climate action and SDGs.
- Under this, Germany will also place €10 billion in new and additional commitments under their development cooperation portfolio in India.
Cooperation in Green Hydrogen
- The Indo-German Green Hydrogen Task Force was constituted in September 2022 and an Action Plan is close to finalisation.
Triangular Development Cooperation
- India and Germany agreed to work on development projects in third countries.
- The four projects, announced in May 2022, are now in different stages of implementation:
- Cameroon: Potato Seed Production through Rooted Apical Cuttings (RAC) Technology.
- Malawi: Agri Business Incubator Models for Women in Agriculture & Food Systems
- Ghana: Developing Bamboo-Based Enterprises for Sustainable Livelihood and Income Generation
- Peru: Development of a geospatial portal prototype for planning, monitoring, and evaluation of the Ministry of Development and Social Inclusion of Peru (MIDIS) interventions and social programs.
Other agreements
- Both sides concluded agreements on “Digital Transformation, FinTech, IT, Telecom and Supply chains’ diversification”.
The issue of Khalistani separatism and extremism also figured during discussions.
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- India has earlier pointed to the presence of pro-Khalistan groups and elements in Germany.
- And New Delhi is concerned at the recent turn of events in Punjab as well.
GS Paper III News
Blue food
Why in News?
According to a recent research, blue food derived from aquatic habitats can help decrease dietary deficits while also contributing to jobs and export income in India.
What is blue food?
- Blue food is the food which is derived from aquatic animals, plants, or algae captured or cultivated in freshwater and marine environments.
What is the significance?
- Blue foods are essential for many nations’ economies, jobs, nutritional stability, and cultures.
- They provide protein to over 3.2 billion people, are an important source of nutrients in many maritime, rural, and tribal communities, and provide a living for over 800 million people, the majority of whom labour in small-scale networks.
Low Emissions and Combat Deficiencies:
- They produce lower emissions than terrestrial meat.
- Aquatic meals can also help to address B12 and omega-3 deficits.
- Over 91% of nations with vitamin B12 shortage also have significant omega-3 deficiency.
Reduce Cardiovascular Diseases
- Promoting blue foods over red meat intake could handle health and environmental issues for approximately 82% of the 22 nations with a high risk of cardiovascular disease.
Revenue Potential for Global South
- Blue foods have the potential to increase nutrition, income, and state money in the global south and indigenous groups in the global north.
Problems Concerning Blue Food
- Bycatch: This is the accidental capture of non-target species in fishing nets, which can result in their mortality.
- Pollution: The existence of pollutants in the water, such as heavy metals, PCBs, and microplastics, can have an impact on the purity and safety of seafood.
- Mislabeling and Fraud: There have been reports of seafood mislabeling, in which a cheaper species is marketed as a more costly one.
- This can result in customer deception as well as possible health dangers.
- Overexploitation: According to the World Bank, nearly 90% of global marine fish populations are now completely exploited or overfished, which is a problem due to overfishing, illicit fishing, and other unsustainable aquatic food production.
Way Forward
- Governments, non-governmental organizations, and the private sector should collaborate to raise knowledge about the advantages of blue food and its potential to combat malnutrition, poverty, and environmental pollution.
- Promoting Sustainable Fishing Practices: Unsustainable fishing practices, such as overfishing, harmful fishing techniques, and bycatch, must be handled in order to safeguard fish populations and the maritime environment.
- Encourage Aquaculture: If done responsibly, aquaculture can be a sustainable method of providing blue food.
- Governments can encourage the growth of safe aquaculture practices by offering technological help, training, and financial rewards.
INTERNATIONAL MONETARY FUND ROLLS OUT NINE-POINT CRYPTO ASSETS ACTION PLAN
Why in News?
- International Monetary Fund plan provides guidance for an appropriate policy response to crypto assets and operationalizes principles outlined in Bali Fintech Agenda.
- The IMF and World Bank introduced the agenda in 2018 to capitalize on the opportunities presented by rapid breakthroughs in financial technology.
What is Cryptocurrency?
- Cryptocurrency is a type of digital currency (For instance: Bitcoin, Ethereum) that uses cryptography for security and anticounterfeiting measures.
- Control of each cryptocurrency works through distributed ledger technology called blockchain.
Concerns related to crypto assets
- Recent failure of several exchanges within crypto ecosystem, as well as collapse of certain crypto assets.
- Lack of control puts macroeconomic and financial equilibrium at danger.
- Unregulated cryptocurrency marketplaces can aid in money laundering and terrorist funding.
What is the status of cryptocurrency in India?
- In India, cryptocurrencies are currently unregulated.
- In 2020, the Supreme Court ruled that an RBI circular (which prohibited banks from collaborating to create digital trading in cryptocurrencies) was illegal.
- The government suggested a 30% tax on the trade of virtual assets, including NFTs and cryptocurrencies, in Budget 2022-23.
- The government also introduced the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021, which aims to create a structure for the establishment of official digital currency while outlawing all private cryptocurrencies in India.
IMF’S Nine POINT ACTION PLAN
- Do not grant crypto assets legal tender status or official currency.
- Maintain efficacy of capital flow management measures.
- Adopt a clear tax approach of crypto assets.
- Establish legal certainty of crypto assets.
- Enforce oversight requirements to all crypto market actors.
- Joint monitoring framework across different domestic agencies and authorities.
- Establish international collaborative arrangements to improve enforcement regulations.
- Monitor impact of crypto assets on stability of international monetary system.
- Global cooperation to develop digital infrastructures for cross-border payments and finance.
GS PAPER III NEWS
Kunming-Montreal Global Biodiversity Framework
Why in News?
The Kunming-Montreal Global Biodiversity Framework adopted recently, respects the rights of indigenous people regarding biodiversity.
About Kunming-Montreal Global Biodiversity Framework:
- The “Kunming-Montreal Global Biodiversity Framework” (GBF) was adopted by the 15th Conference of Parties (COP15) to the UN Convention on Biological Diversity.
- It includes four goals and 23 targets to be achieved by 2030.
- COP 15 took place in Montreal, Canada.
- Through the Kunming-Montreal Global Biodiversity Framework (GBF), countries agreed to protect 30 percent of the planet by 2030.
- The countries pledged to achieve 23 targets to reverse ecosystem degradation under four overarching goals for the survival of the natural world.
- Under the Global Biodiversity Framework (GBF), countries also agreed to reduce harmful government subsidies worth 500 billion dollars annually, while vowing to identify subsidies that are harmful to biodiversity by 2025.
- Its other targets include reducing the use of pesticides by half and raising annual international financial flows from developed to developing countries to at least 20 billion dollars by 2025, and to at least 30 billion dollars by 2030.
Impact on India:
- The Global Biodiversity Plan gives India legroom on farm subsidies.
- The GBF gives elbow space to India both in terms of continuing farm subsidies and pesticide use.
About Nagoya Protocol:
- This protocol was established at the Convention on Biological Diversity.
- The Nagoya Protocol is an international agreement that aims to fairly and equitably distribute the advantages that result from the use of genetic resources.
- The procedure was approved in Nagoya, Japan, in 2010 and came into effect in 2014.
- The Nagoya Protocol has been ratified by 137 parties as of April 2022, including the European Union and 136 UN member states.
- India signed the Nagoya Protocol in 2011 and ratified it in October 2012.
- The ratification by India was done at the 11th Conference of Parties (COP) to the CBD, which was conducted in Hyderabad.
- Members are required under the protocol to implement procedures pertaining to compliance, benefit sharing, and access to genetic resources.
GS PAPER III NEWS
Seagrasses
Why in News?
A recent study conducted by a team of researchers from the University of Madras and Presidency College revealed that a species of marine seagrass found in the Mandapam region near Rameswaram, Tamil Nadu has the potential to be used in chemotherapy treatment for liver cancer.
About Seagrasses:
- Seagrasses are flowering plants that grow submerged in shallow marine waters like bays and lagoons.
- They are so-named because most species have long green, grass-like leaves.
- Seagrasses have roots, stems, and leaves and produce flowers and seeds.
- Like terrestrial plants, seagrass also photosynthesizes and manufactures their own food and releases oxygen.
- They evolved around 100 million years ago, and there are approximately 72 different seagrass species that belong to four major groups.
- Some of the important seagrasses are Sea Cow Grass (Cymodocea serrulata), Thready Seagrass (Cymodocea rotundata), Needle Seagrass (Syringodium isoetifolium), Flat-tipped Seagrass (Halodule uninervis), Spoon Seagrass (Halophila ovalis) and Ribbon Grass (Enhalus acoroides).
Distribution:
- They are found on all continents except Antarctica.
- The tropical waters of the Indo-Pacific hold the highest diversity of seagrasses in the world.
- Seagrass distribution in India:
- They occur all along the coastal areas of India.
- They are abundant in the Palk Strait and Gulf of Mannarin Tamil Nadu.
Ecosystem services:
- They are considered to be ‘Ecosystem Engineers’.
- Seagrasses help maintain water quality. They trap fine sediments and suspended particles in the water column and increase water clarity.
- They filter nutrients released from land-based industries before they reach sensitive habitats like coral reefs.
- The extensive vertical and horizontal root systems of seagrasses stabilise the sea bottom.
- They are one of the most productive ecosystems in the world.