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🔆Global Wind Energy Council (GWEC)

The Global Wind Energy Council (GWEC), in its latest report, said that India can emerge as a major player in the wind energy sector if facilitative policy measures are put in place.
It is a member-based trade association that represents the entire wind energy sector.
It was established in 2005 to provide a credible and representative forum for the entire wind energy sector at an international level.
The members of GWEC represent over 1,500 companies, organisations and institutions in more than 80 countries, including manufacturers, developers, component suppliers, research institutes, national wind and renewables associations, electricity providers, and finance and insurance companies.
Headquarters: Brussels, Belgium.
Mission: To promote the development and deployment of wind power as a sustainable and cost-effective source of energy.
The GWEC conducts research, provides market intelligence, and advocates for policies that support the growth of wind energy.
It also organizes events and conferences to bring together stakeholders from around the world to discuss key issues in the industry.
Reports published: Global Wind Report


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🔆The Impact of Finland joining NATO

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🔆China Russia partnership signals a shift in geopolitical equation that has implications for India

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🔆International Seabed Authority

Recently, the International Seabed Authority has decided that it will start taking permit applications from companies that want to mine the ocean floor.

◼️About International Seabed Authority:

It is an autonomous international organization established under the 1982 United Nations Convention on the Law of the Sea (UNCLOS).

Mandate: It has the mandate to ensure the effective protection of the marine environment from harmful effects that may arise from deep-seabed-related activities.

It has its headquarters in Kingston, Jamaica
Its primary function is to regulate the exploration of poly-metallic nodules.

📍What are poly-metallic nodules?

Polymetallic nodules are rounded accretions of manganese and iron hydroxides that cover vast areas of the seafloor.

These are most
abundant on abyssal plains at water depths of 4000-6500 metres.

They are mainly found in the north-central Pacific Ocean, the southeastern Pacific Ocean, and the northern Indian Ocean.

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🔆Pentagon leak case have fuelled the insecurity between US and it's allies

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🔆A new troika for India's north east region

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🔆SCO Defence Ministers’ Meet

Why in news?

SCO defence ministers' meet was hosted by India in its capacity as chair of the grouping.

It was attended by the defence ministers of six other members, China, Russia, Kazakhstan, Kyrgyzstan, Tajikistan and Uzbekistan, as well as two observer countries Belarus and Iran in person.

Pakistan Defence Minister, who had been invited to SCO meeting, did not turn up.

Instead, special advisor to the Pakistan Prime Minister on defence, attended it through video conference.

At the end of the deliberations, all the SCO member countries signed a protocol, expressing their collective will to make the region secure, peaceful and prosperous.

📍 Key highlights of the speech delivered by Indian Defence Minister

Work towards eliminating terrorism in all forms
Highlighted the issue of radicalisation of youth
Highlighted the need of ensuring territorial integrity
Highlighted the concept of ‘SECURE
The defence minister also highlighted the concept of ‘SECURE’ floated by PM Modi during the SCO summit in China in 2018.
S stands for security of citizens,
E for economic development for all,
C for connecting the region,
U for uniting the people,
R for respect for sovereignty and Integrity and
E stands for environmental protection.

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🔆Indian Defence Minister’s visit to Maldives
Why in news?

Raksha Mantri Shri Rajnath Singh paid a 3-day official visit to Maldives.
As a special gesture, reflecting the warmth in the bilateral relations, the Defence Minister of Maldives broke protocol and personally received the Raksha Mantri upon arrival at the airport.

📍India - Maldives Bilateral relation

India’s interest in Maldives

Strategic Importance
🔰Maldives is barely 70 nautical miles away from Minicoy and 300 nautical miles away from India’s West coast.
🔰It is situated at the hub of commercial sea‐lanes running through Indian Ocean (particularly the 8° N and 1 ½° N channels).

Geo-political interest
Securing sea lanes of communication;
🔰Fighting piracy and sea-based terrorism;
🔰Making Indian Ocean a conflict free zone and restoring its status as sea of tranquil;
🔰Exploring blue economy and Enhancing trade

China Angle
🔰China’s strategic footprint in India’s neighbourhood has increased.
🔰The Maldives has emerged as an important 'pearl' in China’s “String of Pearls” construct in South Asia.

Internal security angle: Radicalisation
🔰In the past, the number of Maldivians drawn towards terrorist groups like the Islamic State (IS) had increased.
🔰Political instability and socio-economic uncertainty are further fuelling the rise of Islamist radicalism in the island nation.
🔰This gives rise to the possibility of remote Maldivian islands being used as a launch pad for terror attacks against India and Indian interests.


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🔆Washington Declaration

Why in news?
In April 2023, South Korean President Yoon Suk Yeol arrived in the U.S. to commemorate the 70th anniversary of U.S.-South Korea bilateral relations.
A highlight of the visit was the signing of the “Washington Declaration” as a nuclear deterrence strategy.

📍Conflict Between North and South Korea

Since the beginning of the 20th century, Korea had been a part of the Japanese empire, and after World War II it fell to the Americans and the Soviets.
In other words, after WW II, USA and USSR were to decide what should be done with their enemy’s (Japan’s) imperial possessions.
In August 1945, Korean peninsula was divided in half along the 38th parallel. The Russians occupied the area north of the line and the United States occupied the area to its south.
In 1950, North Korea invaded South Korea, starting the three-year Korean War. As a result, American troops had entered the war on South Korea’s behalf.
As far as American officials were concerned, it was a war against the forces of international communism itself.
Finally, in July 1953, the Korean War came to an end by signing of the armistice agreement in 1953.
Since the signing of the armistice agreement, North and South Korea have been divided by a 4km wide demilitarised zone stretching 250km.

📍What does the Washington Declaration say?

The agreement outlines cooperation towards deterrence

As per the agreement:
an American nuclear ballistic submarine would be deployed in the Korean peninsula;
a nuclear consultative group would be formed to formulate principles of joint response tactics;
South Korea would receive Intel from the U.S. regarding nuclear advancements; and
the U.S. will strengthen South Korea’s nuclear deterrence capabilities through joint military training programs and an annual intergovernmental simulation.
It reaffirmed the non-proliferation Treaty
South Korea would not venture into the creation of its own independent nuclear capabilities.
It would instead focus on deterrence measures through an alliance-based approach.


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🔆Shanghai Cooperation Organisation (SCO) Startup Forum 2023

The engagement aimed at expanding the startup interactions amongst the SCO Member States, nurturing the spirit of innovation, generating more employment and encouraging young talent to build innovative solutions.
The forum witnessed physical participation from SCO Member States including a delegation of government officials, private industry players, incubators and startups.
This engagement focused on the spirit of collaboration and entrepreneurship.
It aimed at promoting innovation development, particularly through the creation of common platforms and the facilitation of ideas and best practices among the SCO Member States.
Various startup-to-startup bilateral meetings were conducted in promoting and achieving this agenda.
In addition, the delegates also attended a workshop conducted by Startup India on the ‘Role of Bilateral and Multilateral Engagements in developing startup ecosystem’.
The workshop included an interactive session to understand various models of engagements that can be undertaken to develop closer ties between these nations and boost the startup ecosystem in SCO nations.
Previously, Startup India had organized various initiatives for SCO Member states including:
SCO Startup Forum 2020: The SCO Startup Forum laid the foundation for multilateral cooperation and engagement for startups among the SCO Member States.
SCO Startup Forum 2021: The two-day Forum was held virtually through a customized platform representing the Indian culture in augmented reality. SCO Startup Hub, a single point of contact for the SCO startup ecosystem, was launched in this forum.
Focused Mentorship Program: A 3-month long virtual mentorship series ‘Starting-Up’ was organized for the nominated startups, to build capacity among the SCO Startup founders.


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🔆Storm shadow missile

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🔆Financial Stability Board (FSB)

Y in news?

India recently asked the IMF and Financial Stability Board (FSB) to jointly prepare a technical paper on crypto assets.

📍About Financial Stability Board (FSB):

FSB is an international body that monitors and makes recommendations about the global financial system.

It was established in April 2009 after the G20 Summit in London as the successor to the Financial Stability Forum.

Mandate:

To coordinate at the international level the work of national financial authorities and international standard-setting bodies and to develop and promote the implementation of effective regulatory, supervisory, and other financial sector policies.

The FSB, working through its members, seeks to strengthen financial systems and increase the stability of international financial markets

Headquarters: Basel, Switzerland.

The board includes all G20 major economies.

The FSB consists of 68 member institutions. It comprises several central banksministries of finance, and supervisory and regulatory authorities from 25 jurisdictions, as well as 10 international organizations and six Regional Consultative Groups (RCGs).

Framework:

The Plenary, which serves as the sole decision-making body.

The Steering Committee, which takes forward operational work in between Plenary meetings.

Three Standing Committees, each with specific but complementary responsibilities.

The FSB’s decisions are not legally binding on its members.

India and FSB: India is an active Member of the FSBhaving three seats in its Plenary represented by Secretary (Dept of Economic Affairs), Deputy Governor-RBI, and Chairman-SEBI.
Bilateral exercises between India and Indonesia

Exercise Garuda Shakti is a bilateral joint special force exercise.
CORPAT (India-Indonesia Coordinated Patrol) is a naval exercise.
Ex KOMODO is a multilateral Naval Exercise by the Indonesian Navy. It is annually held between the Indian Ocean and the Pacific Ocean.
Quad Leaders’ Joint Statement

Explicitly expressed their deep concern over the Ukraine war
Participating leaders, for the first time, explicitly expressed their deep concern over the war raging in Ukraine.

Leaders of the Quad countries said that they mourn its consequences, and will continue to provide humanitarian assistance to Ukraine.

They called for ending the Ukraine war through dialogue and diplomacy while asserting that it must not be an era of war.
Did not directly refer to Russia’s actions

Quad countries recognised its serious impacts on the global economic system including on food, fuel and energy security and critical supply chains.
However, they did not directly refer to Russia’s actions, understood to be in deference to India’s divergent stand on the issue.

On Indo-Pacific region
The leaders of the four countries also recommitted themselves to maintain and strengthen stability in the Indo-Pacific region according to international law.


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2024/09/25 09:17:24
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