29 May 2023 : PIB
PRESS INFORMATION BUREAU
29-May-2023
Daily Current Affairs For UPSC ,The PIB ( Press Information Bureau )
1. Successful and substantial conclusion of text-based negotiations of IPEF Pillar-II (Supply Chains); good progress under other Pillars
GS 2 – IR, Prelims
Context:
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The second IPEF Ministerial Meeting was held in Detroit yesterday hosted by the US. Union Minister for Commerce and Industry.
About Indo-Pacific Economic Framework for Prosperity (IPEF)
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IPEF was launched jointly by the USA and its partner countries of the Indo-Pacific region in May 2022 at Tokyo.
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It has 14 partner countries including India.
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Other partners include Australia, Brunei, Fiji, Indonesia, Japan, Republic of Korea, Malaysia, New Zealand, Philippines, Singapore, Thailand, Vietnam & USA.
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Objective: It seeks to strengthen economic engagement among partner countries with the goal of advancing growth, peace and prosperity in the region.
Four Pillars of IPEF:
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The framework is structured around the following four pillars
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Trade (Pillar I);
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Supply Chains (Pillar II);
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Clean Economy (Pillar III); and
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Fair Economy (Pillar IV).
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India had joined Pillars II to IV of IPEF. For Pillar-1, India has only an observer status.
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At this Ministerial Meeting yesterday, negotiations under the Supply Chains (Pillar-II) were substantially concluded.
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Pillar-wise Press Statement was issued at the end of the Ministerial meeting to provide an update on the developments related to text-based negotiations under each of the respective IPEF Pillars.
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Under the Supply Chains (Pillar-II), IPEF partners are seeking to fulfill four objectives:
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Make supply chains more resilient, robust, and well-integrated through crisis response measures;
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Secure the Cooperation for mitigation of disruptions to better ensure business continuity, and improve logistics and connectivity;
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Promote investments particularly in critical sectors and production of key goods; and
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Worker role enhancement through requisite upskilling and reskilling, and increasing comparability of skills credentials frameworks across IPEF.
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Under the Clean Economy (Pillar-III), IPEF partners are aiming:
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to advance cooperation on research, development, commercialization, availability, accessibility, and deployment of clean energy and climate friendly technologies, and facilitate investment towards climate-related projects in the region.
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To introduce a regional hydrogen initiative to encourage widespread deployment of renewable and low-carbon hydrogen and its derivatives in the region.
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In Pillar III, India would like to focus on action-oriented elements, such as mobilization of low cost long tenure climate finance and enhanced access to clean energy technologies.
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Under the Fair Economy (Pillar-IV), IPEF partners are working towards the development of the text of an agreement that will strengthen implementation of effective anti-corruption and tax measures to boost commerce, trade, and investment among IPEF economies.
2. Under Mass mobilisation of Mission LiFE Zoological Survey of India, Hyderabad takes part in program
GS3- Environment, Prelims
Context:
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This year, on World Environment Day (June 5) the Ministry of Environment, Forest and Climate Change, will celebrate with a thrust on the Mission LiFE.
About Mission LiFE:
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The concept of Lifestyle for Environment(LiFE) was introduced by the PM, at the World Leaders’ Summit in Glasgow at the 2021 UNFCCC COP26.
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He gave a clarion call to rekindle a global pursuit to adopt sustainable lifestyle and practices.
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Mass mobilisation across the country on LiFE are being organized in the run-up to the celebrations.
For Enquiry
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