1. Task Force on India -Russian trade
Tags: Summits
The Government of India has set up an inter-ministerial task force to examine the feasibility of Rupee-Rouble trade arrangement.
The inter-ministerial task force chairman is Secretary , Department of Economic Affairs in the Ministry of Finance , Mr Ajay Seth .
The American and European government has blocked many prominent Russian banks from the SWIFT (Society for Worldwide International Financial Telecommunication ) payment mechanism .
It has made payment in US dollar and euro with Russia virtually impossible. Around $500 million payments of Indian exporters are stuck with the Russians .
The task force will explore alternative payment mechanisms with Russia.
The rupee-rouble exchange is nothing new. It had its foundation in the Indo-Soviet Trade Agreement signed between the two countries on 02 Dec 1953. This agreement provided that all payments between India and USSR may be made in Indian Rupees. However this agreement came to an end after the disintegration of the Soviet Union and the Russian government insisted on payment in hard currency like US dollars .
Important for Exam
Russian Currency : Rouble
For details and clear understanding of SWIFT see our blogs on SWIFT.
2. International Summit on Plastics Recycling & Waste Management held in New Delhi
Tags: Summits
Union Minister of State for Ministry of Micro Small and Medium Enterprises (MSME) Shri Bhanu Pratap Singh Verma inaugurated the International Summit on Plastics Recycling & Waste Management on 4 March 2022.
It is being organised by the Ministry of MSME in association with The All-India Plastics Manufacturers’ Association (AIPMA) from 4th – 5th March, 2022 at New Delhi.
The Ministry of MSME also launched two special initiatives - 'Sambhav', National Level Awareness Program and 'Swavlamban' to promote entrepreneurship amongst youth, especially in aspirational Districts all across the country.
3. Fifth United Nations Environment Assembly resolves to end plastic pollution
The Fifth session of the United Nation Environment Assembly (UNEA) adopted a resolution to tackle the pollution created by plastics .The United Nation Environment Assembly resumed its second session also called as (UNEA 5.2) at the Kenynian capital Nairobi. It was held from 28th February 2022 to 2nd March 2022.
The environment ministers from 175 of the United Nation member countries agreed to establish an intergovernmental negotiating committee to work out an international legally binding agreement to end plastic pollution.
Plastics are polymeric materials made from petroleum which do not decay naturally. They are non-biodegradable and can exist for a very long time in nature. Single use plastics which are thin cannot be recycled and it ends up in polluting rivers, oceans, mountains soil etc.
Steps taken by Indian government to tackle plastic pollution
The government of India has set a target to eliminate single use plastics by 2022. Single use plastics cannot be reused and are thrown away after use.
According to the Government of India,the manufacture, import, stocking, distribution, sale and use of following single-use plastic, including polystyrene and expanded polystyrene, commodities shall be prohibited with effect from the 1st July, 2022.
The thickness of plastic carry bags has been increased from fifty microns to one hundred and twenty microns with effect from the 31st December, 2022. This will also allow reuse of plastic carry due to increase in thickness.
United Nation Environment Programme (UNEP)
- The United Nations Environment Programme was set up in 1972 after the United Nation Conference on Human Environment was held in Stockholm, Sweden in 1972.
- In 1988 it set up Intergovernmental Panel on Climate Change (IPCC) with World Meteorological Organisation
- Headquarters : Nairobi, Kenya
- Director: Inger Andersen
4. Shri Rajeev Chandrasekhar inaugurates Tech Conclave 2022
Union Minister of State for Electronics & Information Technology, Shri Rajeev Chandrashekhar inaugurated the 3rd edition of ‘NIC Tech Conclave 2022’,at New Delhi on 3 March 2022.
The tech conclave is being organized by the National Informatics Centre(NIC) on 3rd and 4th March 2022 with focus on emerging technologies applicable especially in e-Governance.
The Theme for Tech Conclave this year is “Next Gen Technologies for Digital Government”.
5. Mobile World Congress 2022
Mobile World Congress is an annual tech and smartphone event that generally takes place at the end of February month in Barcelona, Spain.
This year it is being held from 28 February to 3 March 2022.
The Congress focuses on the latest smartphone and on networking .
All major top smartphone companies like Samsung, Apple etc participate in the event.
Fact files Smartphone
The first smartphone was invented in 1992 by the IBM company of America It was called Simon Personal Communicator.
China is the largest smartphone market in the world.
India is the second largest smartphone market in the world and the United States of America is the third largest.
6. Government organises international conference on Temples “‘Devayatanam”
Tags: Summits
The Archaeological Survey of India (ASI) under the Ministry of Culture, Government of India is organising a two-day international conference ‘Devayatanam – An odyssey of Indian temple architecture on 25th - 26th February, 2022 at Hampi, Karnataka.
The Union Minister for Culture, Tourism G Kishan Reddy will inaugurate the conference.
The inaugural session will take place at Pattabhirama Temple, Hampi while the academic sessions will be held in Auditorium, Kannada University, Hampi.
Hampi
Hampi is situated along the Tungabhadra river in Karnataka.
It is a UNESCO (United Nations Scientific Educational and Cultural Organisation ). world heritage site. India has a total of 40 sites in the UNESCO world heritage site list. The 40th is Dholavira in Gujarat.
Hampi was the capital of the Vijayanagara empire in the 14th century
Among the attractions of Hampi are beautiful temples, ruins of palaces, remains of aquatic structures, ancient market streets, and royal pavilions.
The Hampi stone temple is printed on the reverse side of Rs 50 notes.
7. 6th Asian Economic Dialogue
Tags: Summits
The 6th Asian Economic Dialogue is being held in a virtual format on 23 February 2022 to 25 February 2022.
It is organised by the Ministry of External Affairs ,Government of India and Pune International Center.
The theme of the conference is “Resilient Global Growth in a Post-Pandemic World”.
Pune International Center was launched in September 2011 and is an independent think tank which deliberates on issues of national importance and contributes to policy making in India.
Important point for Exam
Union Minister of External Affairs : S.Jaishankar
Foreign Secretary : Harsh Vardan Shringla
8. India International Jewellery Show (IIJS) Signature 2022 inaugurated by Piyush Goyal
The Minister for Commerce & Industry, Textiles, Consumer Affairs and Food & Public Distribution Shri Piyush Goyal inaugurated the India International Jewellery Show (IIJS) Signature at Mumbai on 18 February 2022.
The IIJS Signature event is being organised by the Gem and Jewellery Export Promotion Council (GJEPC).
The event will be held from 18 to 21 February 2022.
The Minister said that the Gems and Jewellery sector is likely to achieve the export target of $40 billion in 2021-22.
The total export of the Gems and Jewellery sector in 2021-22(April to January ) was $32.13 billion(source PIB)
The United States of America is the largest market for Indian Gems and Jewellery .
FACTS
India share in the total world export of Gems and Jewellery in 2020 was 3.5%
India was ranked the 7th Largest exporter of Gems and Jewellery in the world in 2020.
Switzerland is the largest exporter of Gems and Jewellery in the world.
India is the largest exporter of diamonds in the world
India is the largest exporter of cut and polished diamonds in the world . Surat in Gujarat processes about 90% of the cut and polished diamonds of the world .
India is the 4th largest exporter of Gold Jewellery in the world
India is the largest exporter of silver jewellery in the world
Source : Gem & Jewellery Export Promotion Council (GJEPC)
Note : Gems & Jewellery include Gold, Silver & Pearls, precious & Semi-precious stones.
Know this also
Gem & Jewellery Export Promotion Council (GJEPC)
It was set by the Union Ministry of Commerce and Industry in 1966
It was set up to promote the export of Gems and Jewellery in India Its Headquarters : Mumbai
9. 30th Nasscom Technology and Leadership Forum 2022
Tags: Summits
National Association of Software and Services Companies (NASSCOM) held its annual 30th Technology and Leadership forum meeting in Mumbai. It was held from16 to 18 February 2022
This event is known as Asia’s biggest leadership conference.
NASSCOM
The National Association of Software and Services Companies (NASSCOM) was set up in 1988.
It is a non profit organisation of IT sector companies in India.
It is a lobby group which works for the promotion of the IT sector and its companies in India and abroad.
Chairman of NASSCOM : U.B.Pravin Rao
President : Debjani Ghosh
10. G-20 Finance Ministers Meeting hosted by Indonesia
Tags: Summits
Indonesia hosted the finance ministers and central bank governors of the G-20 countries at Jakarta on 17 February 2022 in a virtual mode. As the President of the G-20 in 2022, Indonesia is organising the finance minister and central bank governors of the G-20 countries on 17 and 18 February 2022.
Indian finance minister Mrs. Nirmala Sitharaman represented India in the meeting.
Facts
G-20 Group
Group of 20 or G-20 is a multilateral organisation which was set up in 1999.
It consists of the world's major developed and developing countries.
It consists of 19 countries and the European Union. The member countries are Argentina, Australia, Brazil, Canada, China, France, Germany, India, Indonesia, Italy, Japan, South Korea, Mexico, Russia, Saudi Arabia, South Africa, Turkey, United Kingdom, United States.
The presidency of the G20 rotates every year among its members, with the country that holds the presidency working together with its predecessor and successor, also known as Troika, to ensure the continuity of the agenda. Currently Italy, Indonesia, and India are the Troika countries.
Italy was the President of the G-20 in 2021. Indonesia is the President for 2022 and India will be the President in 2023.
The first Summit meeting of the leaders of the G-20 was held in 2008 at Washington, United States.
The G20 has no permanent secretariat.
G-20 members constitute 60% of the world population, 80% of World economy and 75% of world trade.
