BIMSTEC

✅The Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation (BIMSTEC) is a multilateral regional organisation that was established with the aim of accelerating shared growth and cooperation between littoral and adjacent countries in the Bay of Bengal region.
✅It was founded as BIST-EC, in 1997, with the adoption of the Bangkok Declaration, with Bangladesh, India, Sri Lanka and Thailand as members.
✅It became BIMST-EC (Bangladesh, India, Myanmar, Sri Lanka and Thailand Economic Cooperation) with the entry of Myanmar in late 1997, and eventually, it was named in its current form, when Nepal and Bhutan became members in 2004.
✅It focuses on Trade & Investment (facilitating commerce and economic ties); Transport & Communication (enhancing connectivity across borders); Energy (collaborating on energy security and sustainability); Tourism (promoting cultural exchange and tourism); Technology (sharing knowledge and innovation); Fisheries & Agriculture (ensuring food security); Public Health (addressing health challenges together); Poverty Alleviation (lifting communities out of poverty); Counter-Terrorism & Transnational Crime (strengthening security); Environment & Disaster Management and Climate Change (protecting our planet); People-to-People Contact; and Cultural Cooperation.

🔆China slams US on Tibet dispute act

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🔆How India Russia trade gap may threaten rupee internationalisation efforts

Why in news?

✅New Delhi aims to enhance bilateral trade with Moscow to $100 billion by 2030 to curb its rising oil import bill and reduce dependence on the US dollar.

✅However, since the Ukraine war in 2022, India-Russia trade dynamics have become skewed. Russia is now India’s top oil supplier, but Indian exports to Russia have lagged, leading to a $57 billion trade deficit out of a $66 billion bilateral trade in FY24.

✅While India has saved over $10 billion by importing cheaper Russian oil and benefited from exporting petroleum products made from Urals crude, the low exports to Russia have hindered India's goal to reduce dependence on the US dollar.

✅Continued unbalanced trade might compel India to use the Chinese yuan, undermining efforts to internationalize the rupee.

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🔆Hannibal Directive:

✅It is a purported operational doctrine of using maximum force to ensure no soldiers are captured, even if it means sacrificing military and civilian lives, a media investigation has found.

✅It is also known as Hannibal Procedure and Hannibal Protocol.

✅The expression refers to a purported Israel Defence Forces (IDF) operational policy that aims to pre-empt politically painful prisoner swaps by immediately eliminating everyone in the vicinity of a captive Israeli soldier, even if it poses a risk to the soldier himself.

✅The full text of the purported doctrine has never been published, even though its existence has been an open secret that has long been discussed by soldiers and analysts.

✅It is believed that the policy was named after the Carthaginian general Hannibal, who apparently chose to kill himself when faced with the possibility of capture by the Romans in c. 181 BCE.

📍Origin of the doctrine

✅The Hannibal Doctrine was formulated as a response to the Jibril Agreement of 1985 in which 1,150 Palestinian prisoners were exchanged for three Israelis who had been seized in Lebanon by the Syria-based militant group Popular Front for the Liberation of Palestine-General Command (PFLP-GC).

✅Criticism: The Hannibal Doctrine has been criticised by legal experts for its disregard for human life.

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🔆Prime Minister of India and Nepal Must rebuild trust

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🔆India and Russia have doubled rupee-rouble payments in 2024

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🔆Violence over govt job quota in Bangladesh

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🔆Anti-quota protests in Bangladesh

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UNCLOS

Expert Explains: 5 things New Delhi needs to do if Donald Trump returns to power 🔗
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🔆Houti drone hits tel Aviv

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🔆India, Japan Plan Joint Carbon Crediting Mechanism

Why in the News?

✅India and Japan plan to sign a Memorandum of Cooperation for setting up a Joint Crediting Mechanism (JCM) with emission reduction credits being shared.

📍Key Features of the JCM:

✅A joint committee will be established to develop rules and guidelines for the JCM, covering project cycle procedures, methodologies, project design documents, monitoring, and designation of third-party entities.

✅Decisions on project registration, crediting periods, credit sharing, and issuance will be made with prior confirmation from both the Japanese and Indian governments.

✅The governments recognize that JCM credits from emission reductions and removals will contribute to the nationally determined contributions (NDCs) of both countries, ensuring no double counting occurs.

✅Part of the JCM credits can also be authorized for international mitigation purposes.

✅The two countries will confirm project registration before the joint committee makes a decision, and they will determine the percentage of credit allocation.

✅Additionally, Japan will support technology transfer, finance, and capacity building for the JCM.

📍Carbon Market in India:

✅In the past, India has made investments in producing carbon credits and exporting them to international enterprises.

✅Between 2010 and June 2022, India issued 35.94 million carbon credits or nearly 17% of all voluntary carbon market credits issued globally.

✅However, the government now intends to forbid its exports, guarantee the expansion of a local domestic market for carbon credits, and increase its internal trade.

✅Currently, India’s carbon market is a voluntary carbon market where private parties voluntarily exchange certified reductions of GHGs from the atmosphere for carbon credits.


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🔆ICJ’s observation about Israel’s occupation of West Bank and East Jerusalem

Why in news?
✅The International Court of Justice (ICJ) recently stated that Israel's occupation of the West Bank and East Jerusalem violates international law. The ICJ further asserted that Israel's presence in Palestinian territories should end as soon as possible.
✅Israel has occupied the West Bank and East Jerusalem since the Six-Day War in 1967. Prior to this, the territories were under Jordanian control.

📍Meaning of occupation in international law

✅The most widely accepted definition of occupation comes from Article 42 of the Hague Convention (IV) respecting the Laws and Customs of War on Land and its annex,1907.
✅It states that a "territory is considered occupied when it is actually placed under the authority of the hostile army."
✅An occupation must be temporary and cannot involve transferring sovereignty to the occupying power.
✅Once a territory is seized, the occupying power has obligations towards the inhabitants, as outlined in the 1907 Hague regulations and the Fourth Geneva Convention of 1949.
✅These obligations include providing food and medical care to the population and prohibit transferring civilian populations and using or threatening force.

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The rise of Kamala Harris, and what her likely presidential nomination signifies 🔗
#explained_global #express_explained #kamala_harris #us_elections

Budget 2024- Top recipients of India's financial aid under the "Neighborhood first" policy.

India's total development aid to foreign countries stands at Rs 4883.56 in Budget 2024-25.

It's notable that aid to Maldives has significantly reduced to 400cr from 770cr last year.

The Budget 2024 has again allocated Rs 100 crore - same as last year - for the development of Chabahar port in Iran.

🔆Balancing ties with china

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