Current Affairs – 16/12/24, consists of the news and views from Mint(Hindustan Times) and Indian Express.
Current Affairs – 16/12/24 I Source: Mint
Jalvahak scheme launched, to boost waterway cargo
Union minister of ports, shipping and waterways Sarbananda Sonowal on Sunday unveiled a policy called Jalvahak to incentivize long-haul cargo movements on national waterways straddling the Ganga, Bramaputra and Barak rivers.
Sonowal flagged off cargo ships MVAai, MVHomi Bhaba along with MVTrishul with two barges, Ajay and Dikhu, from the GRJetty in Kolkata. This marks the beginning of a fixed scheduled service of cargo vessels from Haldia for national waterways 1 and (NW-1 and NW-2).
The initiative specifically covers NW-1 (Ganga), NW-2 (Brahmaputra) and NW-16 (Barak).
The service will ply vessels on the Kolkata-Patna-Varanasi-Patna-Kolkata stretch of NW-1 and between Kolkata and Pandu in Guwahati on NW-2 via the Indo-Bangladesh Protocol Route.
Sonowal said, “With its advantage of being an economical, ecologically sound and efficient mode of transportation, we want to boost cargo movement via waterways, to decongest the railways and roadways. Jalvahak scheme incentivizes long-haul cargo on NW-1, NW-2 and NW-16, and provides an opportunity for the trade interests to explore movement of cargo via waterways with positive economic value proposition.”
India boasts an extensive network of inland waterways comprising rivers, canals, backwaters and creeks. Of the total navigable length of 20,236km, around 17,980km consists of rivers and 2,256km is made up of canals, both suitable for mechanized craft.
However, freight transportation via waterways remains significantly under-utilized compared with countries like the US, China and those in the European Union.
The MVTrishul and barges Ajay and Dikhu are carrying 1,500 tonnes of cement from Kolkata to Pandu. The MVAai, is carrying 1,000 tonnes of gypsum to Patna, while the MVHomi Bhaba is shipping 200 tonnes of coal to Varanasi.
The cargo promotion scheme provides direct incentives to cargo owners to transport goods via inland waterways for a distance of more than 300km. This is a joint effort by the Inland Waterways Authority of India (IWAI), the nodal agency of waterways development in the country, and Inland and Coastal Shipping Ltd (ICSL), a fully owned subsidiary of Shipping Corporation of India Ltd (SCIL).
The Jalvahak scheme encourages to reduce logistics costs, decongest road and railways, and adapt to a sustainable mode of transportation.
It offers reimbursements of up to 35% of the total operating expenditure incurred while transporting cargo via waterways on NW-1, NW-2 and NW-16 via the Indo-Bangladesh Protocol Route.
To encourage business propositions of vessel operators, the scheme encourages cargo owners to hire vessels owned or operated by organizations other than IWAIor ICSL. The incentive scheme is ideal for major shipping companies, freight forwarders, trade bodies and associations that handle bulk and containerized cargo.
The scheme gives operators the opportunity to optimize their supply chain network and is initially valid for three years.
The commencement of Fixed Day Scheduled Sailing Service is aimed at demonstrating readiness of waterways as a viable, economic and ecologically responsible alternative for cargo transportation.
On the NW-1 stretch between Kolkata and Varanasi via Patna, the transit time is fixed at seven days for Kolkata-Patna stretch, five days for Patna-Varanasi and 14 days for Kolkata-Varanasi.
India-UK FTA talks may resume next yr
India and the UK are expected to restart talks on their proposed free trade agreement (FTA) between April and June, the first quarter of the UK’s fiscal year.
The talks will resume from where they were paused—the 14th round.
With the change in leadership in the UK, it is not yet certain that the 14th round of talks, which began in January, will be the final round of discussions, as was agreed upon during the tenure of former British prime minister Rishi Sunak.
Both countries are also negotiating a bilateral investment treaty as part of the broader FTA discussions. The agreement is expected to cover 26 chapters, including goods, services, investments and intellectual property rights.
Bilateral trade reached $21.34 billion in 2023-24, up from $20.36 billion in 2022-23. In it, merchandise trade has grown from $11.46 billion in FY23 to $12.98 billion in FY24 while services trade declined slightly from $8.90 billion in FY23 to $8.36 billion in FY24.
In an email response, a British High Commission spokesperson said, “During a meeting between Prime Minister Keir Starmer and India’s Prime Minister Narendra Modi at the G20 Summit in Brazil on 18 November, both leaders agreed to advance an ambitious UK-India comprehensive strategic partnership, aiming to elevate the relationship to new heights in trade and investment, security and defence, technology, climate, health, and education.”
UK had agreed in principle to allow Indian professionals to live and work in the UK for a fixed—as yet undecided—period with work visas, with renewal options. Placing this provision under the FTA would protect Indians worker from any changes in the UK’s domestic policy.
In return, India may allow the import of a fixed number of premium electric vehicles annually on reduced duties. The number of cars being discussed was in the range of 2,000-2,500, but this cap could be adjusted.
To be sure, immigration remains a sensitive domestic political issue in the UK.
China tops list of 20 nations in dumping
China topped a list of 20 countries with over 79% of total 43 dumping cases registered by India this year as the Directorate General of Trade Remedies (DGTR) is conducting an investigation into alleged damage to the domestic chemicals, glass, metals, fibres and plastic sectors.
In 43 anti-dumping cases, including reviews, initiated by DGTRin 2024, China is accused either solo or with other countries in 34 cases. Thailand falls in the second place with six cases and Taiwan is third with five. Russia and the European Union (EU) are involved in four cases each while the US, Vietnam and Japan are accused in three cases each.
“On complaints of injury by domestic industry, anti-dumping duties are imposed by the government after due investigation conducted by DGTR,” said one official who did not want to be named.
China is under the scanner for unfair trade practices such as dumping of goods cheaper than their manufacturing costs in the Indian market to hurt domestic manufacturers. Such items include polyethylene terephthalate resin, aluminium foil, saccharin, decor paper, titanium dioxide, azo pigments, glufosinate, T-shaped elevators, aniline, cold rolled non-oriented electrical steel, black toner powder cartridges and solar cells.
While China is solely accused of dumping the above-mentioned goods, for alleged dumping of soda ash it is also under the scanner in Turkey, Russia, Iran and the US.
Dumping is an unfair trade practice that entails the export of a product at a price lower than its normal value and the same is countered by a punitive anti-dumping duty, which is an acceptable measure under multilateral trade agreements.
Current Affairs – 16/12/24 I Source: Indian Express
Sri Lankan President Dissanayake reaches Delhi, his first foreign trip after coming to power, pacts readied
India and Sri Lanka are expected to sign four pacts, including one on cybersecurity, after President Anura Kumara Dissanayake meets Prime Minister Narendra Modi on Monday.
Dissanayake will be participating in a business event in New Delhi and will also visit Bodh Gaya.
“The visit of President Dissanayake to India shall further strengthen the multifaceted and mutually beneficial cooperation between the two countries,” the MEA spokesperson said.
The fact that his first overseas visit after assuming office is to India signals the importance that the new Sri Lankan President, who defeated the traditional political parties ruled by the political elite, attaches to bilateral ties.
The visit by AKD — as he is popularly called — is expected to provide an opportunity to review ties between the two countries and look at the future prospects under the new leadership in Colombo. This will be an opportunity for India to hear about Dissanayake’s plans, first hand, on Indian investments, views on regional security and his approach towards Tamil minority rights in the country among other issues.
When Jaishankar met him in Colombo on October 4, Dissanayake had told him that “Sri Lankan territory would never (be) allowed to be used in a manner inimical to India’s security interests”, an oblique reference to China’s presence in the island nation.
Dissanayake has said India’s economic support is critical to realise his vision of a prosperous Sri Lanka and meeting the aspirations of the people.
India had been supportive of Sri Lanka’s economic stability and recovery from the very start, and was the first country to give financing assurances which enabled the IMF to finalise the Extended Fund Facility. India had given USD 4 billion financial and humanitarian support during the economic crisis in 2022.
Dissanayake has not supported the implementation of the 13th Amendment, which gives powers to Tamil minorities, a long-standing demand of the Indian government.
He has also opposed any investigation into the alleged war crimes during the civil war between LTTE and Sri Lankan forces. Sources in New Delhi said that the two sides are expected to exchange notes on the devolution of powers to the Tamil minorities, and the way to do so.
Equation complex, equilibrium in both India, China’s interests: EAM Jaishankar
Accepting that equation is “very complex”, External Affairs Minister S Jaishankar on Sunday said it is in the interest of both India and China to find an equilibrium, and emphasised that India’s economic trajectory will put a premium on its ties with countries like Russia and Canada.
Jaishankar said, “Eventually, it’s in the interest of both India and China to reach an equilibrium. Conceptually, it’s difficult to do because both are changing in absolute terms and vis-a-vis the world.”
“The world is changing, they (India and China) are changing, their relationship with the world is changing and their relationship with each other is also changing. In all these changes, how do you find equilibrium? It’s not going to be easy,” he said.
Referring to the issues along the LAC, he said, “We are still grappling with the short term (issue), which is to focus on de-escalation. While disengagement has been worked out, there are other issues which confront us.” In October this year, India and China reached an agreement on patrolling arrangements.
On India’s ties with Russia, despite pushback from the West in the wake of the Ukraine war, he said Russia is a very unique aspect of India’s foreign policy and a “major power globally, and certainly in Eurasia, it is something more than that”. He stressed that “in International Relations 101, your neighbour’s neighbour has an enormous value.”
“Today, India is finding new convergences and intersections. A country like India at this stage of its growth, the resource powers of the world have to be our major partners.”
“India’s economic trajectory will put some premium on (its ties with) countries like Russia, Indonesia, Australia, or even Canada,” he said, adding, “It’s a new compulsion and new rationalisation of who our partners would be.”
Though he didn’t mention how India aims to navigate its ties with the US under President-elect Donald Trump, he said, “As part of our relationship with the US, we have very honest conversations on where we agree and where we don’t”, adding that the India-US ties is “large and important”.
Jaishankar underlined that Europe is an important partner in terms of many of the key concerns — supply chains, AI, semiconductors and digital exchanges. “There is a broad intersection which needs to be built upon.”
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