Daily News Analysis 12 September 2023 (The Hindu)

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Here are the topics covered for 12 September 2023: India-Saudi Arabia, Shanti Swarup Bhatnagar Prize (SSB), Telecom Regulatory Authority of India, One Sun, One World, One Grid (OSOWOG), Direct Listing, TIPRA Motha, Reciprocity.

 

Table of Content

GS-1

  1. India-Saudi Arabia
  2. Shanti Swarup Bhatnagar Prize (SSB)

 

GS-2

  1. Telecom Regulatory Authority of India

 

GS-3

  1. One Sun, One World, One Grid (OSOWOG)
  2. Direct Listing

 

Facts for Prelims

  1. TIPRA Motha
  2. Reciprocity

 

India-Saudi Arabia

Context

  1. Prime Minister Narendra Modi and Saudi Arabia’s Crown Prince have recently signed the Minutes of the First Meeting of the India-Saudi Strategic Partnership Council at Hyderabad House in New Delhi.

 

Highlights of the Meeting

  1. Both leaders agreed to fast-track the West Coast refinery project. It is a trilateral project between ARAMCO, ADNOC, and Indian companies — for which $50 billion is already earmarked.
  2. Both leaders co-chaired the first meeting of the India-Saudi Strategic Partnership Council (SPC) which was set up in October 2019.
  3. The discussion focused on defense, energy, security, education, technology, transportation, healthcare, tourism, culture, space, and semiconductors as areas of possible cooperation.
  4. Both sides agreed to work on the India-GCC Free Trade Agreement (FTA).
  5. Major agreements:
    1. Among the eight agreements that were sealed included one between the Central Vigilance Commission of India and the Saudi Oversight and Anti Corruption Authority and another between the Saudi and Indian Exim Banks.
    2. The National Institute of Technology of India and the Saline Water Conversion Corporation of Saudi Arabia signed an agreement during the visit.
    3. The National Archives of India and the King Abdulaziz Foundation of Saudi Arabia also sealed a pact that will lead to greater collaboration in the field of archival research and conferences.

 

India-Saudi Strategic Partnership Council

  1. The India-Saudi Strategic Partnership Council was established during PM Modi’s visit to Saudi Arabia in October 2019 as a mechanism to streamline and strengthen bilateral ties across diverse domains.
  2. The council operates through two ministerial committees focussed on political, security, social, and cultural cooperation, and economic and investment cooperation, providing a structured framework to foster deeper collaboration and understanding between the two countries.
  3. The first Leaders\’ Meeting of the council, co-chaired by PM Modi and the Saudi Crown Prince during this visit, signifies a commitment to nurturing this partnership to new heights, encompassing a wide array of bilateral concerns and opportunities for collaborative endeavors.

 

India-Saudi Arabia

Context

  1. Prime Minister Narendra Modi and Saudi Arabia’s Crown Prince have recently signed the Minutes of the First Meeting of the India-Saudi Strategic Partnership Council at Hyderabad House in New Delhi.

 

Highlights of the Meeting

  1. Both leaders agreed to fast-track the West Coast refinery project. It is a trilateral project between ARAMCO, ADNOC, and Indian companies — for which $50 billion is already earmarked.
  2. Both leaders co-chaired the first meeting of the India-Saudi Strategic Partnership Council (SPC) which was set up in October 2019.
  3. The discussion focused on defense, energy, security, education, technology, transportation, healthcare, tourism, culture, space, and semiconductors as areas of possible cooperation.
  4. Both sides agreed to work on the India-GCC Free Trade Agreement (FTA).
  5. Major agreements:
    1. Among the eight agreements that were sealed included one between the Central Vigilance Commission of India and the Saudi Oversight and Anti Corruption Authority and another between the Saudi and Indian Exim Banks.
    2. The National Institute of Technology of India and the Saline Water Conversion Corporation of Saudi Arabia signed an agreement during the visit.
    3. The National Archives of India and the King Abdulaziz Foundation of Saudi Arabia also sealed a pact that will lead to greater collaboration in the field of archival research and conferences.

 

India-Saudi Strategic Partnership Council

  1. The India-Saudi Strategic Partnership Council was established during PM Modi’s visit to Saudi Arabia in October 2019 as a mechanism to streamline and strengthen bilateral ties across diverse domains.
  2. The council operates through two ministerial committees focussed on political, security, social, and cultural cooperation, and economic and investment cooperation, providing a structured framework to foster deeper collaboration and understanding between the two countries.
  3. The first Leaders\’ Meeting of the council, co-chaired by PM Modi and the Saudi Crown Prince during this visit, signifies a commitment to nurturing this partnership to new heights, encompassing a wide array of bilateral concerns and opportunities for collaborative endeavors.

 

Telecom Regulatory Authority of India

Context

  1. The government is mulling over a proposal to allow private-sector candidates to apply for the position of TRAI chairperson. This would require an amendment to the TRAI Act, which presently limits eligibility to individuals who have held specific government posts.

 

About the proposal

  1. Eligibility Criteria: Private sector executives with over 30 years of experience may be considered for TRAI chairperson roles.
  2. Amendment to Section 4: Changes to Section 4 of the TRAI Act are expected, expanding qualification criteria.
  3. Departure from Tradition: This move departs from the tradition of appointing IAS officers to TRAI\’s helm.
  4. Conflict of Interest: Steps will be taken to address potential conflicts of interest.
  5. Consistent Approach: Aligns with recent private sector appointments in key regulatory bodies.
  6. Evolving Landscape: Reflects changing regulatory needs in sectors like telecom and data privacy.
  7. Potential Impact: Could diversify regulatory leadership, introducing fresh perspectives.

 

One Sun, One World, One Grid (OSOWOG)

Context

  1. Leading up to the 18th G20 Summit, a full-day conference addressing \”Transnational Grid Interconnections for One Sun, One World, One Grid (OSOWOG)\” took place in New Delhi on September 6, 2023.

 

About OSOWOG

  1. OSOWOG is a collaborative project involving the International Solar Alliance (ISA), India, France, and the United Kingdom. Its focus is on creating a Global Green Energy Grid, primarily utilizing solar and wind energy sources.
  2. The One Sun One World One Grid (OSOWOG) initiative aims to establish a transnational electricity grid for global power supply.
  3. The OSOWOG initiative is driven by the idea that \”the sun never sets.\” It seeks to link diverse regional grids through a shared infrastructure, facilitating the transfer of renewable energy, particularly solar energy, to unlock the full potential of renewable energy sources.
  4. Prime Minister Narendra Modi\’s idea was introduced at ISA 2018.
  5. The United Kingdom (UK) initiated the Green Grids Initiative (GGI).
  6. The goal is international collaboration for efficient renewable energy use by 2030.
  7. Jointly launched at COP-26 in 2021, it merged into GGI-OSOWOG.
  8. This initiative centers on the global transition to renewable energy sources.

 

Direct Listing

Context

  1. In the 12th India-UK Economic and Financial Dialogue steered by UK Chancellor and Indian Finance Minister, India has offered to explore a direct listing of its businesses on the London Stock Exchange (LSE).

 

Highlights of the Meeting

  1. India’s first priority was to commence listing of firms at the International Financial Services Centre (IFSC), GIFT City.
  2. The U.K. and India have agreed to deepen their partnership in developing GIFT City, with the joint statement noting that the U.K.’s expertise will be tapped to help further its status as a reinsurance hub, and emphasizing the scope to increase reinsurance trade between the two markets.
  3. The two sides also discussed the contours of a bilateral investment treaty that is being discussed along with a comprehensive Free Trade Agreement (FTA) for goods and services.

 

About GIFT City

  1. Gujarat International Finance Tec-City (GIFT City) is a central business district under construction in Gandhinagar district in Gujarat, India.
  2. It is India\’s first operational greenfield smart city and international financial services center, which the Government of Gujarat promoted as a greenfield project.
  3. In 2020 GIFT IFSC bagged 10th place in the Finance Industry and top rank in emerging financial centres in the Global Financial Centres Index.
  4. As of June 2023, it is home to 23 multi-national banks including HSBC, JP Morgan, and Barclays; 35 fintech entities; two international stock exchanges with average daily trading volumes of $30.6 billion; as well as India’s first international bullion exchange with 75 onboarded jewelers.

 

FACTS FOR PRELIMS

TIPRA Motha

  1. The Tipra Motha Party (TMP), also known as the Tipraha Indigenous Progressive Regional Alliance, is a regional political party and previously a social organization in Tripura, India.
  2. The TIPRA is led by Pradyot Bikram Manikya Deb Barma.
  3. It is currently the largest opposition party in the Tripura Legislative Assembly.
  4. They are demanding Greater Tipraland and demanding that this area should be carved out as a State or a Union Territory.

 

Reciprocity

  1. The principle asserts that if a signal can be transmitted from Point A (the source) to Point B (the destination), the same signal can also be transmitted from Point B to Point A, simply by exchanging the positions of the source and the destination.
  2. It is an intuitive principle that we often encounter in our daily lives.
  3. A non-reciprocal action or arrangement involves two people or groups of people who do not behave in the same way to each other.
  4. There are many technologies that need signals to be amplified and are thus susceptible to strong back-reflections. They will all benefit from the use of non-reciprocity.

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