Foreign Direct Investment, Diplomacy in Covid Times (March 2021)

Foreign Direct Investment

  • Extensive revisions to existing land, labour, and insolvency laws.
  • Keys sectors like defence, electronics manufacturing, pharmaceuticals, and renewable energy.
  • Indian states have been at the forefront of this transformation, quick to adopt single window systems and digitization across all govt. departments.
  • Changes having a profound impact on the investor experience in India.

Goods and Services Tax

  • The Goods and Services Tax regime has brought overwhelming clarity to a tax system that was viewed as cumbersome and repelling.
  • There is also a land allocation system based on GIS-enabled tracking which collates all industrial land resources in the country on a single platform and allows investors to explore available land across the country providing them with all necessary details.

National Infrastructure Pipeline

  • Establishment of New Medical Colleges Construction Project.
  • Boosting New India՚s medical infrastructure.
  • USD 5.6 billion is the total project cost.
  • Bengaluru City Gas Distribution Project.
  • Augmenting Karnataka՚s gas pipeline network-USD 868.2 Mn is the total project cost.
  • Creates a fast-track institutional, regulatory and implementation framework.
  • For infrastructure projects and benchmarks performance as per global best practices and standards.
  • Public infrastructure projects are efficient, inclusive, and disaster-resilient to improve citizens՚ ease of living.
  • To provide equitable access to infrastructure and make economic growth more inclusive.
COVID-19 and the Use of Drones

Diplomacy in Covid Times

  • “Forward Track,” “Neighborhood First,” “Act East” and “Informal Diplomacy.”
  • India is the Geo-political nucleus of South Asia.
  • India has been praised worldwide for the recent vaccine diplomacy dispatching Covid-19 vaccines to the different parts of the world.
  • Rafale from France gave a new direction to Indian Air Force.
  • The naval exercise Varun concluded strengthened the establishing of Indian presence in Indo-Pacific region.
  • By carrying out a military exercise near Djibouti, the two countries are showing that they are quite serious about their strategic partnership in the Indian Ocean.
  • India՚s trade and energy security are closely connected with the security of Hormuz Water Treaty and Bab-el-Mandeb strait.
  • India has taken part in naval exercises with many gulf countries including Kuwait, Yemen, Bahrain, Saudi Arabia, Qatar, UAE, and Djibouti.
  • India already has a non-military nuclear pact with Russia.
  • India is trying to enter into NSG, MTCR, Australia group and Wassenaar Arrangement. These groups regulate traditional, nuclear, biological, and chemical weapons.

Indian Prime Minister՚s Address at the 12Th BRICS Summit

  • BRICS will play an important role in the significant geo-strategic changes happening all over the world that continue to impact the global stability, security, and growth.
  • With over 42% of the world՚s population, BRICS economies will play a prime role in the post-COVID global recovery.
  • A self-reliant and resilient India can be a Force Multiplier for the post-COVID economy & contribute to global value chains.
  • Ample scope for scaling up mutual trade between BRICS countries.
  • The mutual institutions & stems can make contribution effective in the global recovery.
  • India believes that reforms are a must in the UN Security Council.
  • India expects support from BRICS partners.
  • India will work towards boosting BRICS collaboration in digital health and traditional medicine.
  • BRICS Counter-Terrorism Strategy has been finalized under the presidency of Russia and India and the task will be pursued further during its presidency.
  • Endeavour to enhance Intra-BRICS cooperation, Intra-BRICS solidarity & develop a solid institutional framework during the presidency in 2021.

Examrace Team at Jun 13, 2021