Unlawful Activities (Prevention) Act
The Rajya Sabha passed the Unlawful Activities (Prevention) Amendment Act. The bill is a cornerstone of the government's zero tolerance policy against terrorism. The Lok Sabha had passed the bill on July 24.
Read More: https://www.ksgindia.com/index.php/study-material/news-for-aspirants/21122-unlawful-activities-prevention-act
#Prevention #UAPA #RajyaSabha #AmendmentAct #NIA #MasoodAzhar

India slips to 7th largest economy
India has been pushed to the seventh place in the global GDP rankings in 2018 with the UK and France forging ahead to the fifth and sixth spots, data compiled by the World Bank showed. In 2017, India had emerged as the sixth largest economy, while France was pushed to the seventh place in the global GDP league table.
Read More: https://www.ksgindia.com/index.php/study-material/news-for-aspirants/21121-india-slips-to-7th-largest-economy
#India #GDP #WorldBank #rankings #economy #France

E Car launched to Combat Pollution
The Indian Army in step with government policies on environmental protection has launched an ecological initiative with employing E Cars for use of its officials in New Delhi in partnership with Energy Efficiency Services Ltd (EESL), a joint Venture of Central PSUs under Ministry of Power.
Read More: https://www.ksgindia.com/index.php/study-material/news-for-aspirants/21120-e-car-launched-to-combat-pollution
#ECar #EESL #IndianArmy #ERCs #TataMotors #ECO #GenGopalR

Changes in IBC approved
Parliament approved changes in the Insolvency and Bankruptcy Code (IBC), providing greater clarity over the distribution of proceeds of the auction of loan defaulting companies, with the Lok Sabha passing the Bill with voice vote.
Read More: https://www.ksgindia.com/index.php/study-material/news-for-aspirants/21119-changes-in-ibc-approved
#IBC #RajyaSabha #Amendment #Bankruptcy #CIRP #NCLAT #CoC

POCSO amendments passed
The Protection of Children from Sexual Offences (Amendment) Bill, 2019, which provides the death penalty for aggravated sexual assault on children, was passed in Lok Sabha.
Read More: https://www.ksgindia.com/index.php/study-material/news-for-aspirants/21118-pocso-amendments-passed
#POCSO #Children #Sexual #RajyaSabha #amendments #sexualassault

Mediation panel fails to find solution
The Supreme Court-appointed mediation panel on 1 August 2019 said it was unable to arrive at a solution to the 2.77-acre Babri Masjid-Ram Janmoabhoomi land dispute issue in Ayodhya.
Read More: https://www.ksgindia.com/index.php/study-material/news-for-aspirants/21117-mediation-panel-fails-to-find-solution
#Mediation #Ayodhya #SupremeCourt #NirmohiAkhara #SCWB

India, China informal summit conclude
Prime Minister Narendra Modi and Chinese President Xi Jinpingconcluded their informal summit in Mahabalipuram, outside Chennai, on 12 October 2019 with a “new beginning” for cooperation between the two countries.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21689-india-china-informal-summit-conclude.html
#India #NarendraModi #TajFisherman #CBMs #BRI #IT

India wants data localisation in RCEP
India has proposed locating computing facilities inside the country if it is meant to protect its essential security interests and national interests at the the ongoing negotiations of the proposed Regional Comprehensive Economic Partnership (RCEP) trade agreement.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21688-india-wants-data-localisation-in-rcep.html
#RCEP #India #RBI #FSA #TPP #ASEAN

Forbes’ richest Indian
Reliance Industries Ltd (RIL) chairman Mukesh Ambani has topped the Forbes list of richest Indians for the 12th consecutive year in 2019. With $51.4 billion net worth on Forbes’ list of richest Indians for the year 2019, Ambani leads the chart despite the Indian economy facing a slowdown.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21687-forbes-richest-indian.html
#Forbes #RIL #Gujarat #Ambani #Byju #Indian

Dharma Guardian
Dharma Guardian, the joint military exercise between India and Japan, will be held at the Counter-Insurgency and Jungle Warfare School Vairengte in Mizoram from October 19 to November 2.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21686-dharma-guardian.html
#DharmaGuardian #JGSDF #IndianArmy #Japan

Influential people in Digital Governance
Ravi Shankar Prasad, India's telecom, IT and law minister, has been adjudged among the 100 most influential people in the world of digital governance for his contribution in leading the implementation of Digital India.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21685-influential-people-in-digital-governance.html
#Digital #Governance #NGO #WorldBank #WEF

India slips in GHI 2019
India slipped to 102 position in the 2019 Global Hunger Index featuring 117 countries, behind Nepal, Pakistan and Bangladesh. Over one in every five children in India is “wasted” (low weight for height), the highest for any country in the report.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21718-india-slips-in-ghi-2019.html
#India #GHI2019 #GlobalHungerIndex #Pakistan #WeltHungerHilfe

WIPO report on patent
China accounted for nearly half of global patent filings last year, with a record 1.54 million applications, led by telecoms and computer technology, the U.N.'s World Intellectual Property Organization (WIPO) said on 16 October 2019.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21717-wipo-report-on-patent.html
#WIPO #IP #China #Organization #telecoms

India halved its poverty rate
India has halved its poverty rate since the 1990s and achieved a seven plus growth rate over the last 15 years, the World Bank said.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21716-india-halved-its-poverty-rate.html
#India #IMF #WorldBank #GDP #InternationalMonetaryFund

Ease of Doing Business 2020 report
India has moved 14 places to be 63rd among 190 nations in the World Bank’s ease of doing business ranking released on 24 October 2019 on the back of multiple economic reforms by the Narendra Modi government. However, it failed to achieve the government's target of being at 50th place.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21791-ease-of-doing-business-2020-report.html
#WorldBank #OECD #NarendraModi #DoingBusiness

Kartarpur agreement inked
India and Pakistan on 24 October 2019 signed an agreement to operationalise Kartarpur Corridor. The agreement was meant to be originally signed on October 23 but was delayed by a day.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21790-kartarpur-agreement-inked.html
#Kartarpur #SCLDas #KSCEC #GuruNanak #DBN #Punjab

India improves ranking in MMGPI
India has marginally improved its ranking to 32nd position in terms of providing pension and retirement benefits to citizens compared to last year, according to a report. The country’s score in the Melbourne Mercer Global Pension Index (MMGPI) 2019rose to 45.8 from 44.6 last year.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21789-india-improves-ranking-in-mmgpi.html
#India #MMGPI #APY #KMY #PMKaram

India in World Military Games
India added two more gold medals to its kitty with para-athletes Aneesh Kumar Surendran Pillai and Virender bagging the top honours in their respective events at the seventh CISM World Military Games.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21788-india-in-world-military-games.html
#WorldMilitaryGames #India #IF1 #CISM #AneeshKumar #WUHAN2019

Moon’s impact craters
Chandrayaan-2, which is currently orbiting the Moon, has sent back colourful images showing the impact craters, which could help in further understanding the evolution of Earth’s Satellite.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21787-moon-s-impact-craters.html
#Moon #Chandrayaan2 #Satellite #NASA #LRO #ISRO

Firm selected to redevelop Parliament
The Central government on 25 October 2019 announced that it has chosen Ahmedabad-based firm HCP Design, Planning and Management for its ambitious project of redeveloping Parliament and Central Vista, and development of a new common central secretariat.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21800-firm-selected-to-redevelop-parliament.html
#Parliament #HCP #DrPSNRao #IIM #Kolkata #NarendraModi

India’s another milestone in South America
India and South American nation Ecuador have inked the Protocol for Completion of the Joint Feasibility Study (JFS) between the two countries, in line with the government’s efforts to expand its trade presence in the region.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21799-india-s-another-milestone-in-south-america.html
#SouthAmerica #India #JFS #MPCEIP #JETCO #IIFT

India, France explore 3rd country projects
India and France have taken concrete steps to firm up their strategic partnership in the western Indian Ocean, as part of their respective Indo-Pacific strategies, within two months of Prime Minister Narendra Modi’s trip to Paris.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21798-india-france-explore-3rd-country-projects.html
#NarendraModi #France #healthcare #WorldBank

Jet engine technology project suspended
A key Indo-US project aimed at sharing technology for building fighter jet engines has been ‘suspended’ after the two sides could not come to an agreement on specifics, with a lack of initiative from the industry.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21797-jet-engine-technology-project-suspended.html
#Jetengine #suspended #DTTI #echnologyproject

Peace park deal
The scheduled closing of an Israeli-Jordan “peace park” is a fitting reflection of the countries’ relations as they mark the 25th anniversary of their landmark peace agreement.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21796-peace-park-deal.html
#Peaceparkdeal #parkdeal #Peacepark #IsraeliJordan

India, Saudi Arabia to discuss SPC
India and Saudi Arabia will discuss the details of the planned bilateral Strategic Partnership Council (SPC) during the October 28-29 visit of Prime Minister Narendra Modi to the Gulf monarchy.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21795-india-saudi-arabia-to-discuss-spc.html
#India #SaudiArabia #SPC #NarendraModi

Conduct of Election Rule amended
The disabled and people over 80 years of age can now cast their votes through postal ballot, the government said, in a move that will help increase voter turnout.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21816-conduct-of-election-rule-amended.html
#ElectionRule #Conduct #amended #postalballot


Comprehensive implementation of Paris climate deal
Environment ministers of the BASIC countries have called for "comprehensive" implementation of the Paris climate deal amid threats by US President Donald Trump to withdraw from it.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21815-comprehensive-implementation-of-paris-climate-deal.html
#Paris #BASIC #DonaldTrump #Parisclimatedeal #Javadekar


Navy to merge functions over crisis
Indian Navy, the leanest of the three armed forces of the country, is contemplating restructuring its organisational setup to cater to the advancements in its military and technical systems.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21814-navy-to-merge-functions-over-crisis.html
#Navy #mergefunctions #crisis #IndianNavy


World Bank continue lending support to India
World Bank President David Malpass said the multi-lateral funding agency will continue with USD 6 billion lending target for India.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21813-world-bank-continue-lending-support-to-india.html
#WorldBank #DavidMalpass #NirmalaSitharaman #MakeinIndia


Microprotein malfunction
Researchers have discovered that a microprotein called PIGBOS found in the powerhouse of the cells – mitochondria – contributes to mitigating stress happening within the cells – an advance that may lead to better understanding of disease conditions like cancer.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21812-microprotein-malfunction.html
#Microprotein #malfunction #PIGBOS #mitochondria #powerhouse


New class of quantum materials
Researchers from IIT Bombay have discovered special properties in a class of materials called “semi-Dirac metals” that have been recently talked about in the scientific literature. Examples of semi-Dirac metals are systems such as TiO2/V2O3 nanostructures.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/21811-new-class-of-quantum-materials.html
#Newclass #quantummaterials #IITBombay #semiDiracmetals

Longest UN climate talks end
Marathon international climate talks ended on 15 December 2019 with negotiators postponing until next year a key decision on how to regulate global carbon markets.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/22345-longest-un-climate-talks-end.html
#COP25 #LongestUN #climatetalks #Madrid #Glasgow #greenhousegas

India in CCPI 2020
India is among the top 10 nations as per the Climate Change Performance Index (CCPI) which is based parameters like renewable power and energy use efficiency, Power Minster R K Singh said.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/22344-india-in-ccpi-2020.html
#CCPI2020 #India #RKSingh #COP #NDCs #CCPI

Khyber Pass economic agreement
Pakistan and the World Bank has signed a project agreement worth $406.6 million for financing the Khyber Pass Economic Corridor (KPEC) project with an aim to promote economic development.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/22343-khyber-pass-economic-agreement.html
#Khyber #KPEC #WorldBank #Pakistan

MCA's 2019 Review
In its year-end review, the Ministry of Corporate Affairs (MCA) on 15 December 2019 mentioned the various steps it undertook in 2019 for ease of doing business and creating a robust insolvency framework.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/22342-mca-s-2019-review.html
#MCA #SPICe #NCLT #CCI #DVRs #WorldBank #GreenChannel #Amendment

Draft guidelines to treat rare genetic diseases
In a bid to attract the pharmaceutical industry for pooling investments in drugs for treating rare diseases, country’s apex research body Indian Council of Medical Research (ICMR) has come up with national guidelines for gene therapy related clinical trials.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/22341-draft-guidelines-to-treat-rare-genetic-diseases.html
#ICMR #PID #CDSCO #NDCTR #India #CAGR #orphandrug

Global electricity grid plan
India has started consultations with the World Bank as its technical partner to implement an ambitious global electricity grid plan pitched by Prime Minister Narendra Modi.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/22597-global-electricity-grid-plan.html
#Global #gridplan #NITIAayog #ISA #electricity #WorldBank #Saarc

Strategic sale of NINL approved
The Cabinet Committee on Economic Affairs approved the strategic sale of Neelachal Ispat Nigam (NINL), in which multiple state-owned companies own a stake.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/22596-strategic-sale-of-ninl-approved.html
#NINL #MMTC #BHEL #IPICOL #OMC #MECON #DIPAM

4,000-year-old pre-historic site destroyed
A 3,500 to 4,000 years old Chalcolithic-era site located at Maharashtra’s Aurangabad has been destroyed during a soil scooping work for a highway project. The site was to be excavated by Maharashtra archaeology department and Deccan College in February.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/22595-4-000-year-old-pre-historic-site-destroyed.html
#historic #Maharashtra #Chalcolithic #Khandesh

US justifies killing Soleimani to UN
The United States told the United Nations that the killing of Iranian commander Qassem Soleimani was self-defense and vowed to take additional action "as necessary" in the Middle East to protect US personnel and interests.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/22594-us-justifies-killing-soleimani-to-un.html
#US #Soleimani #Article51 #killing #Islamic

Reliance Jio launches Wi-Fi calling
Reliance Jio on 8 January 2020 launched voice and video calling over Wi-Fi service, less than a month after rival Airtel launched a similar service in Delhi-NCR. The service allows customers to switch seamlessly from LTE to Wi-Fi-based calling when they are at home or office.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/22593-reliance-jio-launches-wi-fi-calling.html
#Reliance #Jiolaunches #WiFi #DelhiNCR #VoLTE #WhatsApp

Quotas not a fundamental right
In a major judgement, the Supreme Court has said on 9 February 2020 that there is "no fundamental right which inheres in an individual to claim reservation in promotions", and also no court can order a state government to provide for reservation to SC/STs.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/22819-quotas-not-a-fundamental-right.html
#Quotas #fundamental #SC/STs #Article335

India ranks 17th in coronavirus import
Of the countries most at risk of importing coronavirus cases, India ranks 17th, researchers have found on the basis of a mathematical model for the expected global spread of the virus that originated in China's Wuhan area in December 2019.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/22818-india-ranks-17th-in-coronavirus-import.html
#India #coronavirus #MERS #WAN #SARS #IGIA

SPICe form in new avatar
The Ministry of Corporate Affairs is replacing the existing SPICe (Simplified Proforma for Incorporating Company Electronically) form with a new web form called SPICe+.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/22817-spice-form-in-new-avatar.html
#SPICe #avatar #EPFO #MCA21 #ESIC #WorldBank

Iran unveils ballistic missile
Iran’s Revolutionary Guards unveiled on 9 February 2020 a short-range ballistic missile that they said can be powered by a “new generation” of engines designed to put satellites into orbit.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/22816-iran-unveils-ballistic-missile.html
#Iran #ballistic #missile #Revolutionary #Salmanengines

SARS-CoV-2 a product of natural evolution
A new study suggests that the coronavirus disease (COVID-19) that emerged from China's Wuhan city is a product of natural evolution. The study was published in the journal - Nature Medicine.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/23135-sars-cov-2-a-product-of-natural-evolution.html
#SARSCoV2 #MERS #COVID19 #SARS #RBD #WHO


Guidelines for regulating payment aggregators
The Reserve Bank of India on 17 March 2020 released guidelines for regulating payment aggregators and payment gateways, nearly six months after it first proposed regulating these entities in a discussion paper.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/23134-guidelines-for-regulating-payment-aggregators.html
#RBI #NaveenSurya #PCI #CompaniesAct


Coronavirus response fund increased
The World Bank has announced increasing to $14 billion the amount of fast-track financing to assist companies and countries in their efforts to respond to the rapid spread of COVID-19, adding $2 billion to the initial package.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/23133-coronavirus-response-fund-increased.html
#Coronavirus #COVID19 #IFC #WorldBank


MTPA Bill cleared
The Lok Sabha 17 March 2020 passed a Bill to extend the upper limit for permitting abortions from the present 20 weeks to 24 weeks for “special categories of women”, including rape survivors, victims of incest, differently-abled and minors.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/23132-mtpa-bill-cleared.html
#MTPA #Amendment #NitinGadkari #LokSabha


Aircraft (Amendment) Bill 2020
A Bill to improve India’s aviation safety ratings and provide statutory status to regulatory institutions like the Directorate General of Civil Aviation (DGCA), got the Lok Sabha’s nod on 17 March 2020.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/23131-aircraft-amendment-bill-2020.html
#Aircraft #Amendment #AAIB #DGCA #BCAS #HardeepPuri

Today News: Rajeev Topno gets World Bank posting
Prime Minister Narendra Modi’s private secretary, Rajeev Topno, has been appointed Senior Advisor to the Executive Director at World Bank,
https://www.ksgindia.com/study-material/news-for-aspirants/23883-rajeev-topno-gets-world-bank-posting.html
#RajeevTopno #WorldBank #NarendraModi

Global Economic Prospect report
India’s economy will shrink by 3.2 per cent in the current fiscal, the World Bank said on 8 June 2020 as it joined a chorus of international agencies
https://www.ksgindia.com/study-material/news-for-aspirants/23910-global-economic-prospect-report.html
#worldbank #india #economy

World Bank suspends ease of doing biz report
The World Bank said it was pausing publication of its “Doing Business” report to probe data collection irregularities in the closely watched annual ranking of countries’ business and investment climates.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/25268-world-bank-suspends-ease-of-doing-biz-report.html
#WorldBank #bizreport #DoingBusiness #UPSCOnlineClasses #OnlineClassses #IASOnlineclasses

WB cancels loan for Bisri Dam Project
The World Bank (WB) has canceled USD 224 million loan to the government of Lebanon for the proposed Bisri Dam Project because it failed to fulfil preconditions required before the funds were disbursed, the organization said.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/25495-wb-cancels-loan-for-bisri-dam-project.html
#WBcancels #BisriDamProject #WorldBank #UPSCOnlineClasses #OnlineClassses #IASOnlineclasses

India in HCI 2020
India has been ranked at the 116th position in the World Bank's annual Human Capital Index (HCI) 2020 that benchmarks key components of human capital across countries.
Read More: https://www.ksgindia.com/study-material/news-for-aspirants/25765-india-in-hci-2020.html
#HCI2020 #WorldBank #HumanCapitalIndex #India #UPSCOnlineClasses #OnlineClassses #IASOnlineclasses

Explained : Is Extreme Poverty in India Declining? #UPSC #KSGIndia #UPSCCSE
https://www.youtube.com/watch?v=4M0jaK7GXyo
#UPSCOnlineClasses #OnlineClassses #IASOnlineclasses

Watch: Explained : Is Extreme Poverty in India Declining? #UPSC #KSGIndia #UPSCCSE
https://www.youtube.com/watch?v=4M0jaK7GXyo

Watch: Explained : Is Extreme Poverty in India Declining? #UPSC #KSGIndia #UPSCCSE
https://www.youtube.com/watch?v=4M0jaK7GXyo&list=PLCUwtp5IghZlGtWhDAkuXVFs8MLdVey75

Today's Headlines - 24 August 2023
Poor nations forced to rely on fossil fuels
GS Paper - 3 (Energy)

Poor countries with heavy debts have been forced to continue to rely on fossil fuels for generating revenue to return the loans taken from richer countries and private lenders to meet various economic exigencies like the pandemic three years ago, a new report said. These countries, mostly in the global south, may find it impossible to phase out fossil fuels and transition to renewable energy as revenues from fossil fuel projects “are often overinflated and require huge investments to reach expected returns, leading to further debt”.

What is the “debt-fossil fuel trap”?

The report, ‘The Debt-Fossil Fuel Trap’, published on 21 August 2023 by the anti-debt campaigners Debt Justice and partners in affected countries.
The global south — a term used for developing, less developing and underdeveloped countries, located in Africa, Latin America, and Asia — countries are increasingly being burdened by enormous debts in recent years.
Their “external debt payments (money borrowed from richer countries, or multilateral creditors like the World Bank and IMF, or private lenders such as banks) has gone up by 150% between 2011 and 2023, reaching their highest levels in 25 years”, said the report.
Moreover, 54 countries are in a debt crisis — they had to cut their public sending budgets during the pandemic to repay the loans, the analysis found.
The situation is worsened by extreme weather events, which force these countries to borrow more money as they lack adequate finances and resources for adaptation, mitigation and tackling loss and damage.
For instance, Dominica’s debt as a percentage of GDP rose from 68% to 78% after Hurricane Maria hit the island in 2017.
To deal with the mounting debts, these countries have turned to extracting more fossil fuels.
The country’s strategy to reduce debt may end up adding to debt levels without generating adequate revenue to repay, which could force Argentia to further expand its fossil fuel projects, the report added. This is known as the “debt-fossil fuel trap”.
Ending the high debt burdens

The report has laid out a few recommendations to help global south countries exit the “debt-fossil fuel trap”.
It said clean energy, wealthy governments and institutions must implement “ambitious debt cancellation for all countries that need it, across all creditors, free from economic conditions.
They should also stop accepting repayments made through fossil fuel projects’ revenue.
Meanwhile, “Bilateral and multilateral finance should be aligned with a 1.5 degree warming scenario and fair shares calculations, and not be used to finance fossil fuels.

#upsc #news #headline #nations #fossilfuels #energy #countries #revenue #pandemic #globalsouth #fuel #trap #africa #latin #worldbank #IMF #payments #GDP #island #dominica #strategy #projects #warming #bilateral #multilateral #finance #fairshares #america #asia #justice #renewable #poornations #forced

Today's Headlines - 26 August 2023
BRICS gets six new members
GS Paper - 2 (International Relations)

The five-member BRICS invited six more countries to join the alliance, in a move which can strengthen its claim of being a ‘voice of the Global South’ on one hand, while raising concerns about China’s increasing dominance on the other. BRICS consists of Brazil, Russia, India, China, and South Africa. In its ongoing summit at Johannesburg, South Africa, it has invited Iran, the United Arab Emirates, Saudi Arabia, Argentina, Egypt, and Ethiopia. Their membership will begin in January.

Why New Members

Adding new members strengthens the group’s heft as a spokesperson of the developing world. BRICS currently represents around 40% of the world’s population and more than a quarter of the world’s GDP.
With the additions, it will represent almost half the world’s population, and will include three of the world’s biggest oil producers, Saudi Arabia, the UAE and Iran.
The rush towards BRICS is driven by two basic impulses: “First, there is considerable anti-US sentiment in the world, and all these countries are looking for a grouping where they can use that sentiment to gather together.
Second, there is a lot of appetite for multipolarity, for a platform where countries of the Global South can express their solidarity.”
The formation of BRICS in 2009 was driven by the idea that the four emerging markets of Brazil, Russia, India, and China would be the future economic powerhouses of the world. South Africa was added a year later.
While the economic performance of BRICS has been mixed, the war in Ukraine — which has brought the West together on the one hand and strengthened the China-Russia partnership on the other — has turned it into an aspiring bloc that can challenge the western geopolitical view, and emerge as a counterweight to Western-led fora like the Group of 7 and the World Bank.
What this means for India

If India’s presence at the recent G7 summit in Hiroshima, where Prime Minister Narendra Modi also participated in an informal Quad summit, was seen as a sign of New Delhi’s US tilt, it continues to attach importance to the “anti-West” BRICS.
India is also part of the Shanghai Cooperation Organisation (SCO), and despite problems, it has relations with Russia, with China.
While China does want BRICS to be an anti-western group, the Indian view is that it is a “non-western” group and should stay that way.
Among the new members, while India looks at all of them as partnerships worth developing, concerns have been raised that the group could become more pro-China and sideline New Delhi’s voice and interests.

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