Month: January 2023

Crypto Awareness Campaign

Post author By balancedreport
Post date January 3, 2023

The Investor Education and Protection Fund (IEPF) will launch an outreach program soon to create awareness of cryptocurrencies.

Cryptocurrency

A cryptocurrency is a digital asset that is kept in computer databases.
To keep these digital coins secure, they are recorded in digital ledgers using strong cryptography.
The ledgers are distributed globally, and each cryptocurrency transaction is codified as a block.
On the distributed ledger, multiple blocks are linked together to form a blockchain.
More than 47 million cryptocurrency users are estimated to exist worldwide.
Mining is the process by which these cryptocurrencies are created.

What is the source of the concern about cryptocurrency?

Caution from the RBI: The Reserve Bank of India (RBI) has suggested that legislation on the sector be drafted. It believes that cryptocurrencies should be banned.
The crypto dilemma stems from concerns that an unregulated currency will destabilize a country’s monetary and fiscal stability.
Involved in illegal activities: Crypto exchanges in India are also being investigated for alleged involvement in illegal activities such as drug trafficking, money laundering, violating foreign exchange legislation, and GST evasion.
High volatility: Because cryptocurrencies are extremely volatile and work around the clock, investing in them can be a complex and risky endeavor.

Will an outreach program be beneficial?

Regulation is required: Aside from the outreach program, the crypto sector requires a regulatory mechanism.
The messaging must be correct: If the government takes a heavy-handed approach and declares that virtual currency is not legal in India, this will not be entirely accurate.

India’s current regulatory framework

The Reserve Bank of India has prohibited banks and other regulated entities from supporting cryptocurrency transactions.
The government has confirmed that cryptocurrency mining costs are considered capital expenditures rather than acquisition costs.
The Centre introduced the Cryptocurrency and Regulation of Official Digital Currency Bill, 2021.

Way ahead

Because crypto assets have no borders, any legislation (whether for regulation or prohibition) would necessitate international cooperation to prevent regulatory arbitrage.
The collaboration must include an assessment of risks and benefits, as well as the evolution of a common taxonomy and standards.

Source: https://www.indiatoday.in/cryptocurrency/story/govt-to-launch-cryptocurrency-and-online-gaming-awareness-campaign-2314226-2022-12-27

Environment & Biodiversity

E-waste sector and Gender Justice

Post author By balancedreport
Post date January 3, 2023

According to the Global E-waste Monitor 2020, only 17.4 percent of the total 56.3 million tonnes of discarded e-waste products generated in 2019 were officially collected and recycled. The remainder is disposed of in landfills, scrap trade markets, or recycled by informal markets.

E-waste in India

Third largest contributor: After China and the United States (US), India is the third largest contributor to this great waste wall, with a whopping 1,014,961.21 tonnes generated in 2019-2020, only 22.7 percent of which was collected, recycled, or disposed of.
More than 12 million employees: Waste Electric and Electronic Equipment (WEEE) is a lifeline for the 12.9 million women who work in the informal waste sector because it contains valuable recyclable metals, despite the negative effects it can have on health and the environment.

E-waste and Burden on women

Inequalities are especially pronounced in this largely gender-neutral sector across the value chain, which is exacerbated by barriers in decision-making roles.
A negligible proportion of women: Recent reports indicate that an estimated 0.1 percent of waste pickers account for India’s urban workforce, with women populating the lower tiers of this economy as collectors and crude separators at landfill sites.
Men in skilled positions: Unsurprisingly, men outnumber women in all skilled positions, including managers, machinery operators, truck drivers, scrap dealers, repair workers, and recycling traders.
Women from low-income families: Workers in the “grey sector” are among the most marginalized, poor, uneducated, and vulnerable with little social or financial security. They are often sexually abused at their workplaces and have no bargaining power when selling their wares. As cities begin to formalize the waste sector in order to effectively control discarded goods, all of these factors act upon their exclusion.

The Health Effects of E-Waste

Leaching and incineration: Open incineration and acid leeching, which are frequently used by informal workers, have a direct environmental impact and pose serious health risks, particularly to child and maternal health, fertility, lungs, kidneys, and overall well-being.
Occupational health hazards: In India, many unskilled workers from vulnerable and marginalized communities are unaware that what they call “black plastics” have far-reaching occupational health hazards, particularly when incinerated to extract copper and other precious metals for market value.
Children’s Exposures: As described in an international forum on chemical treaties, the ‘tsunami of e-waste rolling out of the world’ poses several health hazards for women in this sector, as they are exposed to residual toxins elements mostly in their own households and frequently in the presence of children.
Constant contact with organic pollutants: According to a recent WHO report, an estimated 18 million children, some as young as five, work alongside their families at e-waste dumpsites in low- and middle-income countries each year. Heavy metals like lead, as well as persistent organic pollutants (POPs) like dioxins and flame retardants (PBDEs), have contributed to air, soil, and water pollution.

E-waste legislation and regulations

E-waste (Management) Rules in India, 2016: The Ministry of Environment, Forests, and Climate Change (MoEFCC) highlighted e-waste classification, extended producer responsibility (EPR), collection targets, and restrictions on imports of hazardous e-waste.
Changes to the Rules: The amended Electronic Waste Management Draft Rules 2022, which are expected to go into effect early next year, have also emphasized the importance of improving end-of-life waste across the circular economy.
Lack of clear guidelines: These progressive measures, however, lack clear guidelines on the role of informal recyclers and have especially overlooked the role of women, resulting in a gap in equitable growth.
The Beijing Action Platform: It is worth noting that the Beijing Platform of Action clearly states that a properly designed e-waste processing system can meet both economic and environmental goals in order to improve women’s status in the informal economy. Creating this blueprint in a diverse social and cultural context may allow us to examine best practices and success stories from around the world.

How to make E-waste sector more gender inclusive

Supply chain ownership: The social stigma attached to this sector gradually manifests in discrimination and loss of dignity. Women do not have ownership at the end of the value chain as material processing unit owners, nor do they have access to capital to start new businesses.
Groundworkers have their own policy: Educating the uneducated requires more than just designing training modules; skill development and raising awareness about e-waste should be designed to operate at ground zero, where workers can operate without disrupting their daily work schedules.
Gendered data collection: All of these factors, combined with a severe lack of gender-disaggregated data, necessitate gender budgeting in order to shape an inclusive e-waste management system.

@the end

The concept of the 3Rs, Reduce, Reuse, and Recycle, as envisaged by Mission LiFE, will require investing in women as drivers of a responsible waste management economy, recognizing their critical role in reducing the quantum of waste with the ultimate goal of zero waste.

Source: https://www.thehindu.com/news/national/new-e-waste-rules-threaten-jobs-collection-network/article65701830.ece

Economics

In the current international energy market, what should India do?

Post author By balancedreport
Post date January 3, 2023

India continues to face the same challenge as last year: navigating the choppy waters of a volatile petroleum market while remaining on the green path toward clean energy. Only focusing on the supply and distribution sides of the equation will not result in energy security. Demand reduction and efficiency are equally important.

The current state of the international energy market

Energy market fragmentation: The energy market has fragmented, and energy nationalism is driving policy.
Market restrictions for Russia: Regardless of how and when the Ukraine conflict ends, Russia will be denied access to western markets for as long as President Putin is in charge. One ramification is Russia and China’s tightening energy embrace.
Increasing non-aligned approach and decreasing western orbit: Three countries, OPEC plus one, effectively Saudi Arabia plus Russia, have stepped outside the Western orbit. Saudi Arabia has made it clear that it intends to pursue a Saudi-first, non-aligned strategy in international relations, including with the United States.
Emergence of new energy power centers: New energy power centers are forming around countries that have a large share of the metals, minerals, and components needed for clean energy. China is the dominant power at the moment.

What should India do in this situation?

The government must boost the productivity of existing resources: Russian crude at a discount is an opportunistic panacea. It does not provide a long-term solution to our needs. To secure such a cover, the government must increase the productivity of our existing producing fields and allocate additional resources to access relevant enhanced oil recovery technologies.
Secure a long-term supply relationship with Saudi Arabia and an equity partnership with Iran: It should also leverage the country’s market potential to secure a long-term supply relationship with Saudi Arabia and an equity partnership with Iran.
Enhance strategic petroleum reserves: It should increase strategic petroleum reserves to cover at least 30 days of consumption and remove the sword of Damocles that the CBI/CVC/CAG wield over the heads of public sector petroleum companies, allowing their traders to profit from market volatility without fear.
Expediate gas pipeline grid: The construction of a pan-India national gas pipeline grid should be expedited.

Analysis of coal phase-out and India’s energy transition

Coal is a major source of energy in India: Coal will continue to be the backbone of India’s energy system for decades. It is without a doubt the dirtiest of fuels, but it is still one of the cheapest sources of energy. Furthermore, hundreds of thousands rely on the coal ecosystem for a living.
The option of phasing out coal is not yet a near possibility: While environmentally compelling, phasing out coal is not yet a macroeconomic or social possibility.
A balance is required: In the meantime, the government must find an energy transition path that both balances livelihoods and advances the green agenda.
Actions to be taken: Increased R&D expenditure for coal gasification and carbon capture and sequestration technologies; a carbon tax; the establishment of regulatory and monitoring mechanisms for measuring carbon emissions from the industry; the closure of inefficient and old plants and a decision not to approve any new ones are some small, politically feasible steps in that direction.
Identifying competitiveness: In the meantime, Niti Aayog should convene a group of economists and energy experts to assess the competitiveness of coal versus solar on a full-cost basis.

Other potential measures

Transmission grid upgrade: Allocation of funds for transmission grid network upgrade to make it resilient enough to absorb clean electrons on an intermittent basis. The sun does not shine at night, and the wind does not constantly blow. Simultaneously, the underlying structural issues that are currently impeding renewables scaling up must be addressed.
Repairing discom balance sheets through various regulatory reforms: Parallel to this, it is critical to repair the balance sheets of state distribution companies (discoms), simplify land acquisition procedures, and remove regulatory and contract uncertainties.
Building a domestic chip industry: Harnessing our indigenous resources of critical metals and minerals for clean energy and developing a domestic chip industry will take decades. In the meantime, diplomats should secure diverse supply sources to reduce the country’s vulnerability.
Finally, the creation of an enabling ecosystem for the development and commercialization of third-generation clean energy technologies such as hydrogen, biofuels, and modular nuclear reactors. Nuclear power, in particular, should be promoted.

@the end

India is not to blame for global warming, but it will suffer the most. Millions of people live along its coastline. Rising sea levels will jeopardize their livelihoods. Melting glaciers and extreme temperatures will also affect millions. So, whoever is to blame, India must continue on the path of decarbonization. It cannot afford to develop first and then clean up.

Source: https://www.thehindu.com/sci-tech/energy-and-environment/watch-business-matters-could-timely-investments-in-renewable-energy-sources-have-helped-avoid-the-climate-crisis/article66266832.ece

Science & Tech

What exactly are Globular Clusters?

Post author By balancedreport
Post date January 1, 2023

While studying Omega Centauri, astronomers and scientists at the Indian Institute of Astrophysics (IIA) discovered that hot stars and white dwarfs emit less ultraviolet radiation than expected.

Globular cluster

A globular cluster is a spherical grouping of stars.
Globular clusters are gravitationally bound together, with a higher concentration of stars near their centers.
They can have tens of thousands to many millions of stars as members.
They mostly orbit in the extended stellar halos that surround most spiral galaxies.

How are they formed?

Nobody knows how globular clusters formed. Or what, if any, role they played in the formation of galaxies.
We know that globular clusters are the most ancient, largest, and most massive type of star cluster. The oldest stars are found in globular clusters.
Their age is determined by their nearly complete lack of metals, the heavier elements forged in star interiors.
There are over 150 globular clusters in our Milky Way.
The Milky Way contains over 150 globular clusters, with possibly more hidden by galactic dust.
Our neighboring spiral galaxy, the Andromeda galaxy (M31), appears to have around 300 globular clusters.

Difference between a globular cluster and an open cluster

Globular clusters are large, symmetric, and ancient. They have a diameter of 300 light-years and contain 10 million stars. Open star clusters, on the other hand, contain sibling stars scattered throughout the disc of our galaxy and possibly other galaxies.
Globular star clusters have a symmetrical shape and are densest in the center. Open star clusters have an irregular shape and are loosely clustered together.
Globular clusters orbit in our galaxy’s halo. Furthermore, focus on the galaxy’s core while expanding above and below the galactic disc. Open star clusters are more likely to orbit within the disc.
Millions of stars are found in globular star clusters. However, some globular clusters, such as Omega Centauri, have millions of stars. Open star clusters are made up of hundreds of stars.

Source: https://www.britannica.com/science/globular-cluster

History

Foundation Day of the INC

Post author By balancedreport
Post date January 1, 2023

A political party recently marked the 138th foundation day of Indian National Congress (INC) on December 28.

How the INC was founded?

The INC was founded on December 28, 1885.
The organization was founded by the English bureaucrat Allan Octavian Hume.
On that day, 72 social reformers, journalists, and lawyers gathered at Gokuldas Tejpal Sanskrit College in Bombay for the first session of the INC.

Stated objectives of INC included-

First, the amalgamation of all the various elements that comprise India’s population into a single national whole.
Second, the nation’s gradual regeneration along all lines, spiritual, moral, social, and political; and third, the consolidation of the union between England and India.

Real motive behind: ‘Safety Valve’ Theory

At the time, the goal of this group was not to demand independence from the ongoing colonial rule, but rather to influence British government policies in favor of Indians.
Its goal is frequently described as providing a “safety valve” as a time for Indians to air their grievances and frustrations.
According to Mr. Hume, the Congress organization was “only one result of the labors of a body of cultured men, mostly Indians, who hound themselves together to labor silently for the good of India.”

Transformation toward freedom movement

Ans. Famous for 3P’s: Prayers, Protest and Petitions

The party’s efforts to change colonial administrators’ attitudes and policies regarding Indian rights and powers continued.
Members frequently demonstrated against British colonialism, such as the Bengal famine and the drain of wealth from India.
However, at this point, protests were typically limited to prayers, petitions, and protests, including letters to authorities.
As British rule continued, there were growing differences in how the party should function.

Strength of INC

Diverse participation: Having members who held different ideological positions was one of the party’s biggest strengths, helping it appeal to a broad section of Indian society.
Pan-India organization: Its popularity spread throughout the country.

INC was initially criticized

Non-effective: Hume and the party were chastised by the British for attempting to change existing systems that favored them, and by some Indians for failing to produce significant results.
Elite-organization: The party was mostly made up of educated, upper-class people who had likely studied abroad.

Splits and reconvening

In Surat in 1906, there was a split between the’moderates’ led by Gopal Krishna Gokhale and Surendranath Banerjea, and the ‘extremists’ led by Bal Gangadhar Tilak.
While Tilak and Lala Lajpat Rai wanted the Congress to boycott the Prince of Wales’ visit in protest of the Bengal partition a year before, the moderates were opposed.
However, by 1915, the Bombay session saw these two groups reuniting as one.
Even after the party came to completely dominate successive general elections under PM Jawaharlal Nehru, the pattern of splits and eventual cohesion continued.

Source: https://indianexpress.com/article/explained/explained-politics/on-congress-foundation-day-a-brief-history-of-the-party-8348538/

Economics

Small Savings Plans

Post author By balancedreport
Post date January 1, 2023

For the January to March 2023 quarter, the Central Government raised interest rates on eight of the twelve small savings schemes by 20 to 110 basis points.
Small Savings Schemes are a collection of savings instruments managed by the central government with the goal of encouraging citizens of all ages to save regularly.
They are popular because they offer higher returns than bank fixed deposits, as well as sovereign guarantees and tax breaks.

How are they dealt with?

Since 2016, the Finance Ministry has reviewed quarterly the interest rates on small savings schemes.
The National Small Savings Fund collects all deposits received through various schemes.
The funds in the fund are used to finance the Centre’s fiscal deficit.

Different saving schemes

The schemes can be grouped under three heads –

Post office deposits
Savings certificates and
Social security schemes

(1) Post Office Deposits

This includes the savings deposit, recurring deposit, and time deposits with maturities of 1, 2, 3, and 5 years, as well as the monthly income account.
The savings account currently pays 4% interest per year and can be opened individually or jointly with a Rs 500 initial investment.
The recurring deposit, which pays 5.8% a year compounded quarterly, matures 60 months after it is opened.
It enables investors to save on a monthly basis with a minimum monthly deposit of Rs 100.
Investments in the 5-year time deposit up to Rs 1.5 lakh are also eligible for tax benefits under section 80C of the Income Tax Act.

(2) Savings Certificates

The National Savings Certificate and the Kisan Vikas Patra fall under this category.
The National Savings Certificate pays 6.8% annual interest upon maturity after 5 years. Every year, the interest earned is automatically reinvested into the scheme.
The NSC is also tax-deductible under Section 80C of the Internal Revenue Code.
The Kisan Vikas Patra, which is open to everyone, doubles your one-time investment after 124 months, resulting in a 6.9% compounded annual return.
The minimum investment is Rs 1000, and there is no maximum.

(3) Social security schemes

In the third head of social security schemes, there is Public Provident Fund, Sukanya Samriddhi Account, and Senior Citizens Savings Scheme.

Public Provident Fund

The Public Provident Fund is a popular way to save for long-term goals such as retirement.
It pays 7.1% per year and is tax deductible under Section 80C of the Income Tax Act.
When the account matures after 15 years, it can be extended in 5-year increments indefinitely.
At the time of withdrawal, the accumulated amount and interest earned are tax-free.

Sukanya Samriddhi Account

The Sukanya Samriddhi Account was established in 2015 as part of the Beti Bachao Beti Padhao campaign, specifically for girl children.
The account can be opened in the name of a female child under the age of ten.
The scheme guarantees a 7.6% annual return and is tax deductible under Section 80C of the Income Tax Act.
The deposit is valid for 21 years from the date of opening and a maximum of Rs 1.5 lakh can be invested per year.

Senior Citizen Savings Account

Finally, anyone over the age of 60 can open a five-year Senior Citizen Savings Account.
It has a 7.4% annual interest rate that is paid quarterly and is tax deductible under Section 80C.
These time-tested and safe modes of investment do not provide quick returns, but they are safer than market-linked schemes.

Source: https://www.thehindu.com/business/Economy/interest-rates-on-eight-small-savings-schemes-raised-from-january-1-2023-ppf-rate-unchanged/article66321032.ece

Security Issues

Mutual Legal Assistance Treaties (MLATs)

Post author By balancedreport
Post date January 1, 2023

India and Saudi Arabia are negotiating the signing of a Mutual Legal Assistance Treaty (MLAT) to obtain formal assistance from each other in criminal investigations.
Saudi Arabia is one of only a dozen countries that lacks an MLAT or other bilateral agreement with India to facilitate such investigations.
India has signed MLATs with 45 countries so far and is currently negotiating MLATs with Italy and Germany.

What exactly are MLATs?

In criminal matters, MLATs are bilateral treaties signed by countries to provide international cooperation and assistance.
These treaties allow the signing countries to exchange evidence and information in criminal and related matters.

Advantages of Treaty

Cooperation and mutual legal assistance improve the effectiveness of participating countries in the investigation and prosecution of crime.
It will establish a broad legal framework for tracing, restraining, and confiscating criminal proceeds and instruments, as well as funds intended to finance terrorist acts.
It will be useful in gaining better inputs and insights into the tactics of organized criminals and terrorists.
These, in turn, can be used to fine-tune internal security policy decisions.

Enforcing MLATs in India

The Ministry of Home Affairs (MHA) is the central authority for seeking and providing mutual legal assistance in criminal law matters.
When such requests are routed through diplomatic channels by these Ministries, the Ministry of External Affairs (MEA) may be involved in this process.
Section 105 of the Criminal Procedure Code (CrPC) mentions the Centre making reciprocal arrangements with foreign governments.

Why is India seeking such a treaty with Saudi?

Previously, Saudi Arabia deported several terror suspects at India’s request.
Based on evidence gathered through the mutual agreement, the treaty would aid in the conviction of an accused in a court of law.

Source: https://www.thehindu.com/news/national/india-italy-negotiate-legal-assistance-treaty/article65765042.ece#:~:text=According%20to%20the%20Ministry%20of,sabotage%20the%20due%20process%20of

Governance

NCW seeks to ensure that coaching institutes comply with the POSH Act.

Post author By balancedreport
Post date January 1, 2023

The National Commission for Women (NCW) has asked all states to ensure that the sexual harassment at work law (POSH Act, 2013) is strictly enforced by coaching centers and educational institutes.

Why in the news?

NCW is concerned about reports of sexual harassment at coaching facilities.
It seeks to issue directives to all coaching institutes in order to ensure that effective steps are taken to prevent sexual harassment of female students.

POSH Act

In 2013, the Sexual Harassment of Women at Workplace (Prevention, Prohibition, and Redressal) Act became law.
It defined sexual harassment, outlined the procedures for filing a complaint and conducting an investigation, and specified the appropriate action.
The Vishaka Guidelines, which were already in place, were expanded.

What exactly are Vishakha Guidelines?

The Supreme Court established the Vishakha guidelines in a 1997 decision. This was in a case brought by women’s rights organizations, one of which was Vishakha.
She had prevented the marriage of a one-year-old girl in 1992, prompting the alleged gangrape as an act of retaliation.

Guidelines and the law

The legally binding Vishakha guidelines defined sexual harassment and imposed three key obligations on institutions:
Prohibition
Prevention
Redress
The Supreme Court ordered that a Complaints Committee be formed to investigate allegations of sexual harassment of women in the workplace.

The POSH Act broadened these guidelines:

It required employers to form an Internal Complaints Committee (ICC) at each office or branch with ten or more employees.
It lay down procedures and defined various aspects of sexual harassment, including the aggrieved victim, who could be a woman “of any age whether employed or not”, who “alleges to have been subjected to any act of sexual harassment”.
This meant that the Act protected the rights of all women working or visiting any work in any capacity.

Definition of Sexual Harassment

Sexual harassment, according to the 2013 law, includes “any one or more” of the following “unwelcome acts or behavior” committed directly or indirectly:

Advancement and physical contact
A request or demand for sexual favors
Remarks of a sexual nature
Displaying pornography
Any other unwanted sexual physical, verbal, or nonverbal conduct.

The Ministry of Women and Child Development has published a Handbook on Sexual Harassment of Women in the Workplace, which contains more detailed examples of workplace sexual harassment behavior. These are, in general:

Sexually suggestive remarks or innuendos; serious or repeated offensive remarks; inappropriate questions or remarks about a person’s sex life
Threats, intimidation, or blackmail in relation to sexual favors; also, threats, intimidation, or retaliation against an employee who speaks up about these Unwelcome social invitations with sexual overtones, commonly interpreted as flirting Unwelcome sexual advances.

Unwelcome behavior

According to the Handbook, “unwelcome behavior” occurs when the victim feels bad or powerless; it causes anger/sadness or low self-esteem.
It adds unwelcome behavior is one which is “illegal, demeaning, invading, one-sided and power based”.

Source: https://www.thehindu.com/news/national/ncw-writes-to-states-to-ensure-sexual-harassment-law-implementation-by-coaching-institutes/article66321025.ece

International Relations

India’s ambition to become a global superpower and its opportunity to lead the world

Post author By balancedreport
Post date January 1, 2023

In his first meeting with President Barack Obama in September 2014, Prime Minister Narendra Modi discussed making the United States a key partner in realizing India’s rise as a responsible, influential world power. This was, in some ways, the first time any Indian prime minister had discussed the country’s ambition to become a responsible, influential world power.

India in World politics

India is not new to taking the lead in global politics: Since its inception, India’s leadership has actively pursued an agenda that benefits developing or less developed countries.
India took a principled stance against the developed world’s policy dominance: Whether it was the GATT negotiations or the Non-Proliferation Treaty, India took a principled stance and stood up to the developed world’s policy dominance.
India as a developing-world protector: During WTO negotiations, India played an important role in protecting the interests of the developing world.
For example, Murasoli Maran, the Minister of Commerce in the Vajpayee government, was instrumental in preventing developed countries from advancing their trade and commercial agendas. The UPA government maintained this strategy, risking opprobrium and occasional isolation from the interested parties. However, this did not deter India from opposing agendas that were perceived to be detrimental to the interests of not only its people but also the larger developing world.
India added a moral dimension to the developing world’s monetary vision but was perceived as an obstructionist: India’s significant contribution to all of these fora was that it added a moral dimension to developed world’s monetary vision. However, in the process, India developed a reputation as a skeptic and obstructionist.

India’s smart shift in its approach

While standing up for the developing world and zealously defending its strategic autonomy, India began to take a proactive role in finding solutions.
The Paris Climate Summit in 2015 provided India with its first significant opportunity to highlight its new priorities. It was critical to securing the climate agreement while ensuring that the interests of the developing world were not jeopardized.
In the words of Prime Minister Modi: PM PM Modi cogently articulated this stand on the eve of the Summit: “Justice demands that, with what little carbon we can safely burn, developing countries are allowed to grow. The lifestyles of a few must not crowd out opportunities for the many who are still in their early stages of development.” Developed countries agreed to the principle of “common and differentiated responsibility” as a result of India’s efforts.
INDCs were successfully persuaded by India: India successfully persuaded developed countries to agree to the formulation of “intended nationally determined contributions,” or INDCs, rather than externally imposed targets.
Through “Vaccine Maitri,” India emerged as a powerful player during the Covid pandemic response: India’s arrival on the global stage as an important player was bolstered by its constructive response during the Covid pandemic. In addition to vaccinating its billion-plus citizens, India came to the aid of more than 90 countries by ensuring a timely supply of vaccines through its “Vaccine Maitri” program.
Excellent economic recovery in the post-Covid era: India’s growing importance is visible in a variety of ways. Its post-Covid economic recovery has been laudable, with the World Bank revising its 2022 GDP growth projections from 6.5 percent to 6.9 percent. According to the IMF, it is 6.8 percent, while the rest of the world is expected to grow at 4.9 percent.

India in a new year

Stronger ties with African nations: The India Africa Forum Summit (IAFS), founded by then-Prime Minister Manmohan Singh in 2008 as a triennial event, convened for the third time in 2015 in Delhi. PM Modi took a special interest in strengthening ties with African nations, which resulted in the Summit’s highest-ever participation. It is critical to restarting the process.
India’s critical role in the Russia-Ukraine war: At the Bali G20 Summit, India played a critical role in ensuring that both Russia and its critics, such as the United States, had their say on the Russia-Ukraine war in a dignified and uninterrupted manner. India, for its part, conveyed to the Russian leadership that this was not the time for war. The new year will present an opportunity for India to play a role in bringing the war to an end.
Possibility of establishing a new agenda for the global public good: As chair of the G20, India has the opportunity to set a new agenda in front of the world’s most powerful group of nations. It has always worked for the prudent sharing of global public goods in the past. It is now time to launch similar initiatives for global digital and genetic goods.

Way forward

India must continue to be the voice of the global south: In order to achieve its goals, India must not lose sight of the principles that it has always upheld. It must continue to be the Global South’s voice.
The emphasis on the neighborhood must be increased: India’s diplomatic, strategic, and political investments in Asia, Africa, and Latin America must be increased.
ASEAN IOR must pay more attention: With SAARC failing and BIMSTEC dead in the water, India’s focus on the ASEAN and Indian Ocean region must expand. India’s Act East policy requires more vigor.
India must incorporate moral dimensions into new technological developments: In global politics, India has always supported moralism. The Indian side is also using traditional wisdom to achieve global good in climate talks. India must incorporate a moral dimension into new technological developments.
India must take the lead in regulating technologies for the sake of humanity’s future: The advent of artificial intelligence and genetic manipulation technologies will rock the world. These technologies will devastate humanity’s future if they are not globally regulated on time.

@the end

The country is starting off the new year on a high note. It now controls the leadership of major multilateral organizations such as the G20 and the SCO. Thus, the new year will provide India with the opportunity to realize its global power ambitions. However, opportunities come with risks. By keeping the border tense, China may try to limit India’s ambitions. India must strike a harmonious balance.

Source: https://www.thehindu.com/opinion/lead/a-role-for-india-in-a-world-wide-web/article66282483.ece