03/7/2020 : Daily GS Mains Notes or Mains Content Enrichment for Civil Services Exam
Category: INTERNATIONAL RELATIONS
India’s trade deficit with China
WHY IN NEWS
- India’s trade deficit with China fell to $48.66 billion in 2019-20 on account of the decline in imports from the neighbouring country.
- Exports to China in the last financial year stood at $16.6 billion, while imports aggregated at $65.26 billion.
- Foreign Direct Investment (FDI) from China in India also dipped to $163.78 million in 2019-20 from $229 million in the previous fiscal.
Steps taken by India:
- The government is framing technical regulations and quality norms for several products to reduce dependence on Chinese imports.
- In April 2020, the government tightened norms for FDI coming from countries that share a land border with India.a company or an individual from a country that shares a land border with India can invest in any sector only after getting government approval.
India loses jurisdiction over Italian marines case
WHY IN NEWS
- The Permanent Court of Arbitration (PCA) at The Hague has decided that in a dispute between India and Italy, India is precluded from exercising its jurisdiction to try two Italian marines.
- The decision pertains to an incident of the year 2012 when two Italian marines fired shots while on-board an Italian vessel, Enrica Lexie killing two Indian fishermen aboard an Indian vessel, St. Anthony.
- The PCA also ruled that while India’s conduct has not been in breach of the United Nations Convention on the Law of the Sea (UNCLOS), Italy breached provisions of the Convention by intercepting the navigation of India’s vessel. .
United Nations Convention on the Law of the Sea (UNCLOS):
- UNCLOS, also known as the Law of the Sea Convention or the Law of the Sea Treaty, defines the rights and responsibilities of the nation towards the use of the world’s oceans.
No final decision on India’s involvement in Colombo terminal
Why in news
- Controversy around the East Container Terminal (ECT) in Colombo.
- In 2019, Sri Lanka, Japan and India had signed an agreement to jointly develop the East Container Terminal at the Colombo Port.
- Current Sri Lankan Prime Minister Mahinda Rajapaksa has said there is no final agreement on the project, stating that it was an agreement between former President Maithripala Sirisena and Indian Prime Minister Narendra Modi.
- The statement indicates that the project at the strategic port, coveted by India for years and discussed bilaterally at the highest levels, is still far from certain.
- The ECT is adjacent to the Colombo International Container Terminal, which is a joint venture between China Merchants Port Holdings Company Limited and the Ports Authority, with the Chinese company holding an 85% stake. Over 70% of the transshipment business at the strategically located ECT comes from India.
China opposes U.K.’s citizenship offer
Why in news
- China warned Britain of retaliation with corresponding measures for London’s decision to extend a broader path to citizenship for the residents of Hong Kong.
More Information :
- The British plan covers almost three million Hong Kongers who either have a British National Overseas (BNO) passport or are eligible to apply for one.
- Britain’s offer came in response to a sweeping new security law that China unveiled for the former British territory.
- The Chinese Embassy in London stressed that “all Chinese compatriots residing in Hong Kong are Chinese nationals”. Hong Kong was under U.K. jurisdiction until it was handed over to China in 1997 with a guarantee that Beijing would preserve the city’s judicial and legislative autonomy for 50 years.
Vladimir Putin tightens grip on power
Why in news
- The preliminary results of the Election Commission in Russia showed that almost 78% of voters endorsed the amendments to its Constitution.
More information :
- The proposed changes had already been approved by Parliament and the Supreme Court. But the Kremlin chose to put it on vote for legitimacy and popular approval.
- The changes included:
- A reorganisation of the government.
- Introducing a higher minimum pension and wages.
- A ban on gay marriage.
- Restricting top officials from holding dual citizenship.
- Enshrining “faith in God” as a core value.
- Emphasizing the primacy of the Constitution over international treaties and rulings.
- Resetting President Putin’s term limits. The Russian Constitution bars more than two consecutive presidential terms. Putin is now into the second term of his second stint as President, which will expire in 2024.
- The new Constitution resets the clock on Mr. Putin’s terms so that in the first election under the new Constitution, to be held in 2024, Mr. Putin can start afresh and remain in office for two more terms until 2036.
- MoD approves 33 new fighter jets in deals worth 38,900 cr.
Why in news
- Defence Acquisition Council (DAC) chaired by the Defence Minister has approved deals worth 8,900 crore.
- procurement of 21 MiG-29 fighter jets for the Indian Air Force (IAF), upgrade of 59 MiG-29s and acquirement of 12 Su-30 MKI aircraft( estimated to cost 7,418 crore).
- Su-30 MKI will be procured from Hindustan Aeronautics Limited (HAL).
- Other deals include Pinaka ammunition, armoured vehicle BMP armament upgrades and Software Defined Radio for the Army, Long Range Land Attack Missile Systems of over 1,000 km range and Astra Beyond Visual Range air-to-air missiles for the Navy and the IAF. o All of these would be procured domestically and are worth an estimated ₹31,130 crore.
- Another deal for 83 Light Combat Aircraft Mk-1A, estimated to cost ₹38,000 crore, is expected to be signed in the next two months.