VISION

 Why in news?

The Trade Policy Forum (TPF), a premier forum to resolve trade and investment issues between India and the United States has been re-launched after four long years.

What is the status of India-US bilateral trade?

• The US remained India’s biggest trading partner and largest export market and the bilateral trade exploded from approximately 20 billion dollars in 2001 to over 145 billion dollars in 2019.
• The US investment in India amounts to 46 billion dollars.
• Over 2,000 US companies are located in India, including every major Fortune 500 companies.
• Over 200 Indian companies created about 125,000 jobs in United States across all states.
• The US is one of the few countries with which India has a trade surplus with India’s exports exceeding the imports.
• The top traded goods include pearls and precious stones, pharmaceuticals, machinery, electronics, clothing, vehicles, chemicals and fish products, optical, photo, medical apparatus and aluminium.

What are the key issues in the bilateral trade relations?

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APTI PLUS Current Affairs Monthly Magazine November 2021

1)  President Kovind presents Vir Chakra, Kirti Chakra and Shaurya Chakra

President of India, Ram Nath Kovind presented Gallantry Awards and Distinguished Service Decorations in Defence Investiture Ceremony at Rashtrapati Bhavan. Gallantry Awards have been instituted by the Government of India to honour the acts of bravery and sacrifice of the officers/personnel of the Armed Forces as well as other lawfully constituted forces and civilians. The order of precedence of these awards is Vir Chakra, Kirti Chakra and Shaurya Chakra.

Vir Chakra:

•Group Captain Abhinandan Varthaman was accorded the Vir Chakra by President Ram Nath Kovind for his role in pushing back Pakistan’s fighter jets in February 2019. Abhinandan Varthaman was Wing Commander then. In the ensuing aerial dogfight, he shot down a Pakistani F-16 fighter aircraft on February 27, 2019.

Kirti Chakra

•President Kovind accorded the second-highest peacetime gallantry award Kirti Chakra (posthumously) to Sapper Prakash Jadhav for neutralising terrorists in an operation in Jammu and Kashmir. His wife and mother received the award.

Shaurya Chakra

•Major Vibhuti Shankar Dhoundiyal was accorded the Shaurya Chakra (posthumously) for his role in an operation where five terrorists were eliminated and 200 kg explosive material was recovered. His wife Lt Nitika Kaul and mother received the award.

•Naib Subedar Sombir was accorded the Shaurya Chakra posthumously for killing an A++ category terrorist during an operation in Jammu and Kashmir. His wife Suman Devi and mother Rajendra Devi received the honour.

•The President also conferred the Shaurya Chakra to Major Maheshkumar Bhure who is an alumnus of Sainik School Satara. According to the citation, Major Bhure led an operation in which six top terrorist commanders were killed.

2)  Education Minister launches Centres For Nanotechnology at IIT Guwahati

•Union Education Minister Dharmendra Pradhan inaugurated the state-of-the-art Centre for Nanotechnology and Centre for Indian Knowledge System at IIT Guwahati. He also released a book on NEP 2020 implementation. Assam Education Minister Ranoj Pegu was present on the occasion. IIT Guwahati has achieved excellent rankings in the various national and international ranking systems.

3)  Odisha celebrated ‘Boita Bandana’ Festival on Karthika Purnima

•On Karthika Purnima, which is also known as Boita Bandana is celebrated at various water bodies of Odisha. The festival is the maritime tradition that is celebrated as a testament to the maritime trade history of Kalinga, tradesmen and mariners known as sadhabas travelled on boitas (boats) to trade with distant island nations that share borders with the Bay of Bengal like Indonesia, Java, Sumatra and Bali.

4)  8,573 Venezuelan musicians set world’s largest orchestra record

•Venezuela has set a new Guinness World Record for the largest orchestra with 8,573 musicians playing together for more than five minutes. The record was set by the country’s National System of Youth and Children’s Orchestras, known as “El Sistema”. The previous such record for an orchestra was made by Russia when 8,097 musicians played together in St. Petersburg.

•The broadcast included a recording of Guinness World Records expert Susana Reyes announcing that the Venezuelan musicians had been successful in setting a new record after they played LaMarche Slave by Pyotr Tchaikovsky for more than five minutes.

5)  Andhra Pradesh Bags Best Marine State Award

Andhra Pradesh has been named the best marine state in the country by the Department of Fisheries. The Department of Fisheries under the Ministry of Fisheries, Animal Husbandry and Dairying awarded best performing States for 2021-22 on 21 November 2021 on the occasion of the ‘World Fisheries Day, to recognise their accomplishments in the field and their contribution to the growth of the sector. The awards were announced by the Union Minister for Fisheries, Animal Husbandry and Dairying, Parshottam Rupala in Bhubaneswar.

Top States

•Marine states: Andhra Pradesh

•Inland states: Telangana

•Hilly and North East states: Tripura

Top Districts

•Best Marine District: Balasore in Odisha

•Best Inland District: Balaghat in Madhya Pradesh

•Best Hilly and NE District: Bongaigaon in Assam

6)  CII to organize 20th edition of ‘Connect 2021’ in Chennai

•The Confederation of Indian Industry (CII) will organise its flagship event ‘Connect 2021’ from November 26 to 27 in Chennai, Tamil Nadu. Connect is an international conference and exhibition on information & communication technology (ICT). Theme: “Building a Sustainable Deep T’ech’N’ology Ecosystem”.

7)  Pratham NGO won Indira Gandhi Peace Prize 2021

•Pratham NGO has been awarded the Indira Gandhi Peace Prize 2021 for its work on expanding the scope for education in India. Its pioneering work for more than a quarter-century in ensuring that every child has access to quality education. Its innovative use of digital technology to deliver education. Its regular evaluation of the quality of education. Its timely response in making children learn amid Covid-19 restrictions.

8)  El Salvador Plans to Build World’s First ‘Bitcoin City’

•El Salvador President Nayib Bukele has announced that the country is planning to build the world’s first “Bitcoin City”. The new city is planned to be developed in the eastern region of La Union and will be initially funded by bitcoin-backed bonds. It would get geothermal power from a volcano. Bitcoin City will not levy any taxes except for value-added tax (VAT). One half of this VAT levied will be used to fund the bonds issued to build the city and the next half would be used to pay for services such as garbage collection.

9)  SBI Ecowrap report projects India’s GDP for FY22 between 9.3%-9.6%

•State Bank of India (SBI) economists in its research report “Ecowrap”, has revised upwards the GDP growth projection for India to the range of 9.3%-9.6% for FY22 (2021-22). Earlier this was estimated in the range of 8.5%-9%. The reason for the upward revision is a decline in the number of COVID cases.

•The analysis suggested that “India remained unscathed in Q3 from the global situation, which is marred by supply disruptions, stubborn inflation and surges of infections during Q3 2021.” As per the report, India has recorded only an 11 per cent increase in Covid-19 cases during Q3 this year the second-lowest among the top 15 most affected countries.

10)  A new book “India vs UK: The Story of an Unprecedented Diplomatic Win” by Syed Akbaruddin

•Senior Indian diplomat, Syed Akbaruddin has authored a new book titled “India vs UK: The Story of an Unprecedented Diplomatic Win”. The book features the behind-the-scenes details on India’s victory against the United Kingdom in the elections to the International Court of Justice (ICJ) in 2017. Syed Akbaruddin, India’s Permanent Representative to the UN at the time, presents a behind-the-scenes account of India’s coming-of-age in world affairs through the prism of this momentous election.

11)  Anita Desai awarded Tata Literature Live! Lifetime Achievement Award

•India’s one of the best-selling authors, Anita Desai has been conferred with the Tata Literature Live! Lifetime Achievement Award for 2021 to recognise her long literary career which spans over 50 years. Meanwhile, the Poet Laureate award for 2021 has been conferred upon Indian poet Adil Jussawala. Both these awards are presented to recognise exceptional work which has made a significant impact in the Indian literary field.

•The Twelfth Edition of Tata Literature Live! The Mumbai Litfest was organised from November 18th to 21st 2021. She has received several awards and honours in the course of her long-spanning literary career, including the Padma Bhushan, Sahitya Akademi Award and later Fellowship, and the Benson Medal of the Royal Society of Literature.

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