21 September 2022 – Current Affairs

Insolvency and Bankruptcy Board of India Regulations

Paper 3 – Economy

Why Should You Know?

Recently IBBI amended Insolvency and Bankruptcy Board of India (Liquidation Process) Regulations, 2016 and Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) Regulations, 2017

In details –

• The Insolvency and Bankruptcy Board of India notified the Insolvency and Bankruptcy Board of India (Liquidation Process) (Second Amendment) Regulations, 2022 (‘Amendment Liquidation Regulations’) and Insolvency and Bankruptcy Board of India (Voluntary Liquidation Process) (Second Amendment) Regulations, 2022 (‘Amendment Voluntary Liquidation Regulations’) on 16th September, 2022.

What are the amendments –

To enable better participation of stakeholders and streamline the liquidation process to reduce delays and realise better value, the amendment in Liquidation Regulations make the following major modifications:

• The Committee of Creditors (CoC) constituted during Corporate Insolvency Resolution Process (CIRP) shall function as Stakeholders Consultation Committee (SCC) in the first 60 days. After adjudication of claims and within 60 days of initiation of process, the SCC shall be reconstituted based upon admitted claims.
• The liquidator has been mandated to conduct the meetings of SCC in a structured and time bound manner with better participation of stakeholders.
• The scope of mandatory consultation by liquidator, with SCC has been enlarged. Now, SCC may even propose replacement of liquidator to the Adjudicating Authority (AA) and fix the fees of liquidator, if the CoC did not fix the same during CIRP.
• If any claim is not filed during liquidation process, then the amount of claim collated during CIRP shall be verified by the liquidator.
• Wherever the CoC decides that the process of compromise or arrangement may be explored during liquidation process, the liquidator shall file application only in such cases before Adjudicating Authority for considering the proposal of compromise or arrangement, if any, within thirty days of the order of liquidation.
• Specific event-based timelines have been stipulated for auction process.
• Before filing of an application for dissolution or closure of the process, SCC shall advice the liquidator, the manner in which proceedings in respect of avoidance transactions or fraudulent or wrongful trading, shall be pursued after closure of liquidation proceedings.
• The Amendment Liquidation Regulations and Amendment Voluntary Liquidation Regulations further lay down the manner and period of retention of records relating to liquidation and voluntary liquidation of a corporate debtor or corporate person, respectively.
• The Amendment Liquidation Regulations and Amendment Voluntary Liquidation Regulations are effective from 16th September, 2022.

What is IBBI?

• The Insolvency and Bankruptcy Board of India (IBBI) is the regulator for overseeing insolvency proceedings and entities like Insolvency Professional Agencies (IPA), Insolvency Professionals (IP) and Information Utilities (IU) in India.
• It was established on 1 October 2016 and given statutory powers through the Insolvency and Bankruptcy Code, which was passed by Lok Sabha on 5 May 2016.
• IBBI works under the Ministry of corporate affairs
• It covers Individuals, Companies, Limited Liability Partnerships and Partnership firms.
• The new code will speed up the resolution process for stressed assets in the country.
• It attempts to simplify the process of insolvency and bankruptcy proceedings. It handles the cases using two tribunals like NCLT (National company law tribunal) and Debt recovery tribunal.
• Governing Board
• IBBI will have 10 members, including representatives from the Ministries of Finance, Law and corporate affairs, and the Reserve Bank of India.

India-Egypt bilateral talks

Paper 2 – International Relations

Why Should You Know?

Recently Raksha Mantri Shri Rajnath Singh & his Egyptian counterpart General Mohamed Zaki hold bilateral talks in Cairo.

In details

• Raksha Mantri Shri Rajnath Singh held bilateral talks with Egyptian Defence Minister General Mohamed Zaki in Cairo on September 19, 2022.
• Shri Rajnath Singh, who is on an official visit to Egypt, was accorded a ceremonial Guard of Honour at the Ministry of Defence in Cairo, prior to the commencement of bilateral talks.

About meeting  

• During the meeting, both sides discussed steps to strengthen defence ties and reached a consensus to enhance conduct of joint exercises and exchange of personnel for training, especially in the field of counter-insurgency.
• The two Ministers also agreed to identify proposals for expanding cooperation between the defence industries of India and Egypt in a time-bound manner.
• They also exchanged views on regional security and acknowledged the contribution of India and Egypt to peace & stability in the world.
• Both sides expressed happiness at the intensified defence engagement and exchanges over the last year, despite the COVID-19 pandemic.

MoU in Defence Sector

• Following the Raksha Mantri’s call on with the President of Egypt Mr Abdel Fattah El-Sisi, both the Ministers agreed to consolidate and focus on enhancing security and defence aspects of bilateral cooperation.
• Signing of MoU by the two Defence Ministers on cooperation in the field of defence was a milestone event during the visit, which will pave the way for enhancing defence cooperation across all sectors of mutual interest.
• Shri Rajnath Singh also invited his Egyptian counterpart to the India-Africa Defence Dialogue and IOR Defence Ministers’ Conclave, scheduled to be held as part of 12th DefExpo in Gandhinagar, Gujarat between October 18-22, 2022.
• As part of his day’s engagements, the Raksha Mantri paid homage at the Unknown Soldier Memorial and Tombstone of the late Egyptian President Anwar El–Sadat in Cairo.

About Egypt

• Egypt, officially the Arab Republic of Egypt, is a transcontinental country spanning the northeast corner of Africa and southwest corner of Asia via a land bridge formed by the Sinai Peninsula.
• It is bordered by the Mediterranean Sea to the north, the Gaza Strip of Palestine and Israel to the northeast, the Red Sea to the east, Sudan to the south, and Libya to the west.
• The Gulf of Aqaba in the northeast separates Egypt from Jordan and Saudi Arabia.
• Egypt’s important role in geopolitics stems from its strategic position: a transcontinental nation, it possesses a land bridge (the Isthmus of Suez) between Africa and Asia, traversed by a navigable waterway (the Suez Canal) that connects the Mediterranean Sea with the Indian Ocean by way of the Red Sea.
• Cairo is the capital and largest city of Egypt, while Alexandria, the second-largest city, is an important industrial and tourist hub at the Mediterranean coast.
• Nile river is the main river of Egypt. Egypt includes parts of the Sahara desert and of the Libyan Desert.
• Mount Catherine, locally known as Gabal Katrîne, is the highest mountain in Egypt. It is located near the city of Saint Catherine in the South Sinai Governorate.
• Egypt is considered to be a regional power in North Africa, the Middle East and the Muslim world, and a middle power worldwide. It is a developing country.
• Tourism is one of the most important sectors in Egypt’s economy. The Giza Necropolis (the Great Pyramid of Giza) is one of Egypt’s best-known tourist attractions; it is the only one of the Seven Wonders of the Ancient World still in existence.
• Egypt is a founding member of the United Nations, the Non-Aligned Movement, the Arab League, the African Union, Organisation of Islamic Cooperation and the World Youth Forum.

Cannabis (ganja) cultivation

Paper 3 – Agriculture

Why Should You Know?

Recently, the Central Narcotics Bureau destroyed 1,032 hectares of illegal cannabis cultivation in Himachal Pradesh.

In details –

• In one of the biggest destruction operations conducted over 2 weeks in Himachal Pradesh, officers of Central Bureau of Narcotics (CBN) destroyed 1032 hectares (12,900 bighas) of illicit cannabis (ganja) cultivation.

What was the matter?

• On receiving specific intelligence about illicit cannabis (ganja) cultivation in Himachal Pradesh, teams of officers of CBN were formed and dispatched. Officers of CBN verified the intelligence and further carried out physical surveys resulting in detection of more areas of illicit cultivation.
• Subsequently, destruction operation was started with support of District Administration, Forest Department and the Police.
• During this operation, two-pronged approach of creating awareness among villagers along with enforcement was adopted by officers of CBN.
• Community mobilisation was adopted by sensitising villagers about adverse effects of drugs on body and mind. Threats that drugs tend to pose to the future of youth and children were explained.
• Relevant penal provisions of NDPS act were also explained to Village Pradhans and members, consequent to which resolutions were passed by villagers to destroy illicit cannabis plantations around the villages.
• Villagers assisted officers of CBN to destroy illicit cultivation by actively taking part in exercise under supervision of CBN officers.
• 4 teams of CBN Officers were simultaneously allotted different areas of operation and given the flexibility to work jointly in certain areas with large illicit cultivation of cannabis. Officials from Forest department, Revenue & the Police department also accompanied teams during operations in light of sensitive nature of operation.
• It is noteworthy to mention that since this is a season of apple & pomegranate harvesting, labour availability was a problem but it failed to deter the grit and determination of CBN teams which swung into action and conducted destruction operation in hostile terrain with steep slopes and rains.
• The officers climbed daily up to 11,000 feet above sea level and even camped in sensitive areas to expedite the destruction of illicit cultivation of cannabis. Later on, officers from DRI (Directorate of Revenue Intelligence) also joined this operation.
• GPS coordinates were used to tag / mark the sensitive locations and DRONES were used for detection and surveillance of the illicit cannabis (ganja) cultivation areas which resulted in greater success of the entire operation.
• Active support in terms of logistics and manpower was provided throughout the operation by the Office of Dist. Collector, CCF and SP Kullu and DRI.

Destruction of illicit cultivation of cannabis

• The Central Bureau of Narcotics (CBN) is the Apex Drug Law Enforcement Agency under Department of Revenue, Ministry of Finance, Government of India tasked with identification and destruction of illicit cultivation of cannabis and Opium along with its other responsibilities.
• CBN has conducted destruction operation in many states like West Bengal, Jammu & Kashmir, Arunachal Pradesh, Manipur, Uttarakhand etc., resulting in destruction of more than 25,000 hectares of illicit cultivation of Opium and Cannabis over the years.
• CBN had also destroyed approximately 3,600 hectares of Illicit Opium in Arunachal Pradesh in the month of February and March this year. CBN intends to continue such destruction operations of illicit cultivation across India in future as well.

About cultivation of cannabis in India

• Keeping and cultivating hemp(ganja) in India is both prohibited. But in some states it is cultivated with special exemption. First of all, understand that cultivation is not of hemp but of cannabis(bhaang).
• Cannabis and hemp are made from the same species of plant. This species is divided into male and female.
• In this, cannabis is made from the male species and hemp is made from the female species and the plant from which both are made is called Cannabis.
• Farmers can cultivate cannabis after permission from the administration. But the biggest problem in its cultivation is the set standard. Cannabis cultivation is allowed only after that standard is met.

Legal provision

• Cultivation of cannabis is prohibited in India. In 1985, the Indian government banned the cultivation of cannabis under the Narcotics Drugs and Psychotropic Substances (NDPS) Act.
• But the same NDPS Act empowers the state governments to allow cultivation of cannabis for horticultural and industrial purposes.
• According to the NDPS Act, “The central government may encourage research and testing of cannabis varieties with low THC content.
• But the Center will exercise a vigil and give evidence based permission for cultivation of cannabis for horticultural or industrial purposes only and will take a decision based on the results of its research.
• Example – Cannabis cultivation is legal in Uttarakhand. In the year 2018, the state government had allowed farmers to cultivate cannabis.

 Asia-pacific Institute of Broadcasting Development (AIBD)

Paper 2 – Governance

Why Should You Know?

Recently India’s Presidency of the prestigious Asia-pacific Institute of Broadcasting Development (AIBD) has been extended for one more year.

In details

• India’s Presidency of the prestigious Asia-pacific Institute of Broadcasting Development (AIBD) has been extended for one more year.
• This was unanimously decided by the AIBD member countries at the two day General Conference of the Institute held in New Delhi. Currently, Sh. Mayank Kumar Agrawal, Chief Executive Officer, Prasar Bharati and Director General, Doordarshan is the President of AIBD. 
• The conference was inaugurated by Sh. Anurag Singh Thakur, Union Minister of Information and Broadcasting, Youth Affairs and Sports in the presence of Dr. L. Murugan, Minister of State for Information and Broadcasting, Fisheries, Animal Husbandry & Dairying and Sh. Apurva Chandra, Secretary, Ministry of Information and Broadcasting.

About Asia-Pacific Institute for Broadcasting Development

• The Asia-Pacific Institute for Broadcasting Development (AIBD), established in 1977 under the auspices of UNESCO, is a unique regional inter-governmental organisation servicing countries of the United Nations Economic and Social Commission for Asia and the Pacific (UN-ESCAP) in the field of electronic media development.
• The AIBD is mandated to achieve a vibrant and cohesive electronic media environment in the Asia-Pacific region through policy and resource development.
• The AIBD currently has 26 countries as full members represented  by 43 organizations, and 52 affiliate members.
• The 47th AIBD Annual Gathering / 20th AIBD General Conference and Associated Meetings held in New Delhi on 19-20 September 2022 witnessed a range of discussions, presentations and idea exchange sessions especially focusing on the topic of “Building a Stronger Future of Broadcasting in post pandemic era”. A five year plan for co-operative activities and exchange programmes was also finalised.
• All the participating countries and member broadcasters pledged to work together for a sustainable broadcasting environment, latest technology know-how, finest content creation, various co-operative activities.

Vision

• To achieve a vibrant and cohesive electronic media environment in the Asia-Pacific region through policy and resources development.

Mission

• AIBD aims to innovate and inspire media growth by providing the best tools available in the industry and introducing latest trends which sets the benchmark of excellence in the Asia-Pacific region.

Solar Energy Corporation of India Limited

Paper 3- Energy

Why Should You Know?

Recently The Solar Energy Corporation of India Limited (SECI) celebrated 11th Foundation Day.

In details

• The 11th Foundation Day Celebration of Solar Energy Corporation of India Limited (SECI) was held today. Shri R. K. Singh, Union Minister of Power and New and Renewable Energy graced the occasion as Chief Guest, and Shri Bhagwanth Khuba, Minister of State for New and Renewable Energy and Chemicals and Fertilizers was the Guest of Honor.
• Speaking on the occasion, Shri R. K. Singh commended the role played by SECI in  the expansion of Indian renewable energy sector in a short span of time. Shri. Bhagwanth Khuba, appreciated the pioneering work done by SECI towards fulfillment of National Renewable Energy Target.
• As part of 11th Foundation Day, a series of events was organized including plantation of 1100 trees, blood donation camp wherein 88 units were donated, distribution of 2100 food packets, guest lectures for around 2200 school-kids, indoor sports tournament comprising of Table-tennis, Chess, Carom, Foosball and various team-building activities.

About Solar Energy Corporation of India

• Solar Energy Corporation of India Ltd. (SECI) is a company of the Ministry of New and Renewable Energy, Government of India, established to facilitate the implementation of the National Solar Mission (NSM).
• The SECI was registered as Section 25 under the Companies Act, 1956 (now Section 8 of the Companies Act, 2013) on 9 September 2011. It was set up as a Non-for-Profit Company to promote solar energy in India.
• It is the only Central Public Sector Undertaking (PSU) dedicated to the solar energy sector. The company’s mandate has been broadened to cover the entire renewable energy domain and the company will be renamed to Renewable Energy Corporation of India (RECI).

Function –

• The company is responsible for implementation of a number of government schemes,major ones being the VGF schemes for large-scale grid-connected projects under NSM, solar park scheme and grid-connected solar rooftop scheme, along with a host of other specialised schemes such as defence scheme, solar canals, and Indo-Pak border scheme.
• In addition, SECI has ventured into solar project development on turnkey basis for several PSUs.
• The company also has a power-trading licence and is active in this domain through trading of solar power from projects set up under the schemes being implemented by it.

Global Clean Energy Action Forum

Paper 3- Environment

Why Should You Know?

Union Minister Dr Jitendra Singh will participate in the “Global Clean Energy Action Forum” to be held from September 21 to 23 in Pittsburgh, Pennsylvania

In details

• Union Minister of State (Independent Charge) Ministry of Science and Technology; Minister of State (Independent Charge) Ministry of Earth Science; MoS PMO, Ministry of Personnel, Public Grievances, Pensions, Space and Atomic Energy, Dr Jitendra Singh, as the head of Joint Ministerial Indian delegation, arrived at New York On 20^th sept evening, enroute Washington, on the first leg of the 5-day US visit, which includes participation in Global Clean Energy Action Forum scheduled from 21st to 23rd September at Pittsburgh, Pennsylvania.
• Dr Jitendra Singh was received by senior India Embassy officials and after facilitations at the JFK airport, he left for Washington DC to hold an important Roundtable with senior executives of about 35 companies and federal representatives associated with Geospatial, Space, Earth & Ocean Science, Pharma and Biotech Sectors to be organized by US-India Business Council at U.S. Chamber of Commerce headquarters in Washington, DC.
• Dr Jitendra Singh is leading a high-level Joint Indian Ministerial official delegation of Ministry of Power, New & Renewable Energy and Ministry of Science & Technology to participate in Global Clean Energy Action Forum and also to interact with eminent academicians as well as Indian diaspora.

About the meeting –

• At the Business Roundtable with CEOs of 35 prominent companies, Dr Jitendra Singh is to highlight the bilateral Science & Technology (S&T) collaboration range from Mega Science such as LIGO [Laser Interferometer Gravitational Observatory], TMT [Thirty Meter telescope] and Neutrino Physics to Clean Energy Technologies, Health Science, Earth and Ocean Science, Agricultural Science and recent interest in expanding our collaboration in Emerging Technologies.
• Dr Jitendra Singh may also refer to joint Department of Science & Technology,Government of India and National Science Foundation (NSF), United States launched projects in wide range of areas of common interests such as – Cobotics, Computer vision, Robotics and Automation Technologies, Artificial Intelligence and Machine Learning, Data Analytics, Sensors, and Networking and Technologies for Internet of Things & Internet of Everything.
• Dr Jitendra Singh will also present before the US MNCs the tremendous opportunities that the Indian Space sector offer and will underline the fact that ISRO and NASA are working together to launch a joint radar satellite for Earth observation named NISAR [NASA -ISRO Synthetic Aperture Radar].
• The NISAR mission will collect data vital to tackling the climate crisis. ISRO has been getting Deep Space Network Antenna support from NASA in its Missions such as Chandrayaan-1, Mars Orbiter Mission (MOM) and Chandrayaan-2 mission and will continue availing support for our Chandrayaan-3 mission.
• Dr Jitendra Singh will offer that both India and America may further expand the partnership in the areas of common priority such as Quantum Technology, Artificial Intelligence, Deep Ocean Exploration, Electric Vehicles, Emerging Technologies for Telecommunications and Semiconductor Research and Innovation, geospatial technology areas related to acquisition, processing, and dissemination of high-resolution geospatial data.
• The Minister is likely to interact with key US Federal officials over dinner at India House to be hosted by the Indian Ambassador.
• After the dinner at India House, Dr Jitendra Singh will depart for Pittsburgh on 21st September to take part in the coveted joint convening of the Clean Energy Ministerial (CEM13) and Mission Innovation (MI-7). The event is expected to bring together thousands of clean energy leaders from across the world, including CEOs, innovators, young professionals, civil society and ministers from over 30 countries to accelerate clean energy innovation and deployment.

SCALE App

Paper 3 – Economy

Why Should You Know?

Recently Shri Dharmendra Pradhan launched SCALE app for skill development in leather sector at Central Leather Research Institute, Chennai.

In details

• On September 20, 2022 the Minister of Education and Skill Development Shri Dharmendra Pradhan launched the SCALE (Skill Certification Assessment for Leather Employees) app which provides a one-stop solution for the skilling, learning, assessment, and employment needs of the leather industry, during a visit to CSIR-Central Leather Research Institute, Chennai.
• Leather Skill Sector Council developed Android App SCALE to change the way skill development programs are designed and delivered to the trainees in leather industry.
• The SCALE studio App developed by Leather SSC allows people from all age groups interested in leather craft to access online live streamed classes from the state-of-the-art studio at its office.
• It is noteworthy that leather sector plays a major role in generating large-scale employment in the country with over 44 lakh people currently working.

About Central Leather Research Institute

• Central Leather Research Institute or CLRI is the world’s largest leather research institute in terms of research papers and patents.
• The institute located in Chennai, Tamil Nadu was founded on 24 April 1948 as a constituent laboratory under the Council of Scientific and Industrial Research.

Objectives

• The role of CSIR-CLRI in scientific industrial research space of India is very focused. Objective of the institute is to meet the needs of the leather and allied sectors through research, technology development and transfer, training and industrial support and formulation of policies and plan of action that ensures a technology based competitive advantage for Indian leather

Mission

• To meet the requirements of its external and internal customers, relevant regulatory and statutory bodies and other stakeholders with continual improvement in its services, while aligning itself to the National agenda through innovative R&D

Cash donations to political parties

Paper 2- Polity

Why Should You Know?

Recently, the Election Commission demanded a limit on cash donations to political parties.

In details

• The Election Commission has sought limits on cash donations to political parties. In a letter to Law Minister Kiren Rijiju, Chief Election Commissioner Rajiv Kumar has suggested some amendments in the Representation of the People Act to increase transparency and accountability.
• Official sources said, the poll body has proposed to decrease the limit of anonymous political donations from 20 thousand rupees to two thousand rupees and sought to restrict cash donations at 20 percent or at maximum of 20 crore rupees out of the total funds received by a party.
• The Commission has also suggested that every candidate should open a separate bank account for election purposes, route all expenses and receipts through this account and furnish these details in their account of election expenditure. 
• Currently, maintaining a separate bank account for poll expenditure is part of instructions, but the poll panel wants it to become part of Conduct of Election Rules.
• The proposals are aimed at bringing reforms and transparency in donations received by political parties and also the expenditure incurred by candidates. 

Current Limit

• As per rules in force currently, political parties have to disclose all donations above ₹20,000 through their contribution report that is submitted to the EC.

Other recommendations

• As part of bringing transparency in the expenditure made by individual candidates contesting polls and to remove “fungibility” in this expenditure, the EC has sought to make digital transactions or account payee cheque transfers mandatory for all expenses above ₹2,000 to a single entity/person.
• Government sources said once this amendment — to be made in Rule 89 of the Conduct of Election Rules, 1961 — is carried out, a candidate would have to maintain a separate account for receipt and payments related to elections and the same has to be transparently disclosed to authorities, as an account of election expenditure.
• As of now, maintaining a separate bank account for poll expenditure is part of instructions but EC wants it to become part of Conduct of Election Rules.
• The EC also wants every candidate to open a separate bank account for election purposes, route all expenses and receipts through this account, and furnish these details in their account of election expenditure.
• The EC has also sought “electoral reforms” to ensure that no foreign donations creep into the funds of the parties as stipulated under the RP Act and the Foreign Contribution Regulation Act (FCRA), 2010.
• The sources said, at present, there is no mechanism to segregate foreign donations at the initial stages specifically, and the present format of contribution report is “not equipped” to seek additional information.
• The Commission, therefore, has sought for a broad discussion on the subject between different stakeholder Ministries to come up with a mechanism to identify and deter prohibited foreign donations.
• Another area of concern that has been identified by the EC is the violation of foreign exchange regulations, they said.

India-German Bilateral Meeting

Paper 2 – International Relations

Why Should You Know?

Union Minister of State for Heavy Industries Shri Krishan Pal Gurjar met German Minister  Mr. Wolfgang Tiefensee

In details –

• On September 20, 2022 The Union Minister of State for Heavy Industries Shri Krishan Pal Gurjar held a bilateral meeting with the German delegation led by Minister of Economic Affairs, Science and Digital Society of the Free State of Thuringia, Germany Mr. Wolfgang Tiefensee.
• Stating that the collaboration between both the Nations is crucial particularly in the area of Green Hydrogen, Shri Gurjar asserted that India looks forward to working with Germany on various aspects of Green Hydrogen to realize its true potential for energy security.
• The meeting assumes significance as India & Germany are working to strengthen their cooperation in the areas of research and development mainly in exploring alternate EV Battery Chemistries such as Sodium Ion, Aluminium-Air, etc and creating a robust Supply chain of rare earth mineral such as Nickel, cobalt.
• Both the Nations also seek to establish an Indo-German Green Hydrogen Task Force to strengthen mutual cooperation in production, utilization, storage and distribution of green hydrogen through building enabling frameworks for projects, regulations and standards, trade and joint research and development (R&D) projects.

Indo-German Green Hydrogen Task Force

• India and Germany signed a Joint declaration of Intent on Indo- German Hydrogen Task Force on may 2, 2022.
• Under the agreement both countries  will establish an Indo-German Green Hydrogen Task Force to strengthen mutual cooperation in production, utilization, storage and distribution of Green Hydrogen through building enabling frameworks for projects, regulations and standards, trade and joint research and development (R&D) projects.
•  India has launched the National Green Hydrogen Mission with the goal to make India the global hub of Green Hydrogen production and export. Germany also has developed an ambitious National Hydrogen Strategy with the aim to assume global leadership in hydrogen technologies.
• Blessed with abundant renewable energy potential and experience of implementing renewable energy projects, India can produce low-cost Green Hydrogen to progressively decarbonize a range of industry sectors, and also export it to meet global demand. With strengths in innovation and manufacturing, Germany is already implementing numerous hydrogen projects.
• Trade of Green Hydrogen and/or its derivatives such as Green Ammonia / Green Methanol would form the cornerstone of the collaboration. Institutional collaboration in joint research, light house projects, innovation clusters and hydrogen hubs would catalyse the synergistic efforts of the two countries.
• The ambitious deployment targets would also create attractive investment and business opportunities for industries from both countries.
• India and Germany share the common goal to decarbonize their economies. Both nations are committed to develop a national green hydrogen economy. The common long-term goal is to reduce emissions and protect the environment.
• This requires a global upscale of green hydrogen production and offtake. India and Germany therefore support the establishment of a global green hydrogen economy, to facilitate the achievement of the goals under the Paris Agreement. Both sides are convinced that common goals can be achieved better in close cooperation, building on individual strengths and capacities.

The Government e-Marketing (GeM)

Paper 3 – Economy

Why Should You Know?

Recently, GeM in collaboration with PIB organises GeM Seller Samvad in Bhubaneswar.

In details

• On September 20, 2022 The Government e-Marketing (GeM) place in collaboration with the Press Information Bureau (PIB) organized the GeM Seller Samvad in Bhubaneswar, an interactive session with the stakeholders of GeM to get their feedbacks and suggestions to further improve the service delivery of the digital platform.
• The ‘Seller Samvad’ has been planned to interact with the GeM sellers in particular and make them aware about the new GeM features and functionalities that further make it conducive for them to operate on the portal.
• Through the Samvad, it was also planned to have these sellers speak about their experiences and share the same with others to learn from and get inspired.
• It can be mentioned here that ever since the inception of GeM, it has grown by leap and bounds. As per data, in Odisha alone, there are 1,11,931 registered vendors on GeM, which includes State Government, State PSUs, Central Government, Central PSUs among others. Total 15,323 MSME vendors from Odisha have been registered on GeM out of which 2,557 are women MSME vendors.
• This is the fifth day of such Seller Samvad being organized by GeM across the country. Today, apart from Bhubaneswar, the Seller Sambads have been organized simultaneously at Patna and Ahmedabad.

About GeM

• Government e Marketplace (GeM), the National Public Procurement Portal of the country is an end-to-end online Marketplace for the procurement of goods and services.
• It was launched on August 9, 2016, as part of the vision of the Hon’ble Prime Minister.
• GeM is known for redefining public procurement and has been able to bring about radical changes in the way procurement was done by Government buyers and public sector undertakings.
• GeM is contactless, paperless, and cashless and stands on three pillars viz. efficiency, transparency, and inclusivity.
• It is noteworthy that GeM has surpassed the milestone of INR 1 Lakh Crore of procurement value, in a single fiscal year in FY 21-22. Cumulatively, GeM has facilitated over 1 Crore transactions valued at over INR 3.02 Lakh Crore. This has only been possible with the support of all stakeholders including buyers and sellers across the country.
• Since its inception, GeM has been steadily growing with new product and service categories being added constantly. Currently, there are about 300 service categories and over 10000+ product categories available on GeM.
• These categories feature around 44 lakhs catalogues of product and service offerings. Further, GeM is an evolving platform and relentlessly works towards adding new features and functionalities to the portal. In line with this principle, approximately 2000 minor and 460+ major functionalities have been introduced in the last 24 months.