09 Apr 2024: PIB Summary for UPSC

09 Apr 2024 PIB
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TABLE OF CONTENTS

1. IPEF Clean Economy Investor Forum
2. National Green Hydrogen Mission
3. NTPC’s Girl Empowerment Mission
4. National Maritime Day
5. India-EU Trade and Technology Council (TTC)

1. IPEF Clean Economy Investor Forum

Syllabus: GS-3, Economy & Environment

Prelims: IPEF Clean Economy Investor Forum, IPEF

Context:

Indo-Pacific Economic Framework for Prosperity (IPEF) to organise Clean Economy Investor Forum in Singapore.

Details:

• The IPEF Clean Economy Investor Forum brings together the region’s top investors, philanthropies, financial institutions, innovative companies, start-ups and entrepreneurs. 
• The Forum aims to mobilise investments into sustainable infrastructure, climate technology and renewable energy projects. 
• The Department of Commerce is the nodal agency for the IPEF engagements, and the IPEF Clean Economy Investor Forum is managed by Invest India.
• The Forum will have opportunities for the Indian industry in the two following tracks.
  • Climate Tech Track: Climate tech entrepreneurs and companies in India may apply under this track and be presented to global investors. The Forum is holding an open call to recognise the top climate tech companies and start-ups among the member countries to this end. The top 100 companies will be announced in early May 2024 and shortlisted companies will be invited to showcase and pitch at the Investor Forum in Singapore in June 2024.
  • Infrastructure Track: Under this track, India will showcase selected investible sustainable infrastructure projects in focus sectors such as energy transition (e.g electric gird; renewable energy, including solar, and onshore wind; sustainable aviation fuel; battery storage; hydrogen; green data centres), transport and logistics (e.g. Electric Vehicle, EV charging points), waste management/waste to energy.
• PwC Singapore and HolonIQ are the knowledge partners for these tracks.

2. National Green Hydrogen Mission

Syllabus: GS-3, Environment & Ecology

Prelims: National Green Hydrogen Mission

Context:

The Government extends the deadline for submission of R&D Proposals under the National Green Hydrogen Mission.

Details:

• The Ministry of New & Renewable Energy, Government of India has issued Guidelines for the implementation of the R&D Scheme under the National Green Hydrogen Mission.
• The R&D scheme seeks to make the production, storage, transportation and utilization of green hydrogen more affordable. 
• Objectives & details of the R&D scheme:
  • To improve the efficiency, safety and reliability of the relevant processes and technologies involved in the green hydrogen value chain.
  • To foster partnerships among industry, academia and government to establish an innovation ecosystem for Green Hydrogen technologies. 
  • Will help scale up the commercialization of Green Hydrogen technologies by providing the necessary policy and regulatory support.
  • Total budgetary outlay – Rs. 400 crores
  • Will be implemented till 2025-26.
• The deadline for the submission of R&D proposals has been extended to 27 April.

Read more about the National Green Hydrogen Mission in the linked article.

3. NTPC’s Girl Empowerment Mission

Syllabus: GS-2, Social Justice

Prelims: Girl Empowerment Mission

Context:

NTPC launches new edition of Girl Empowerment Mission.

About the Girl Empowerment Mission:

• The Girl Empowerment Mission is NTPC’s flagship Corporate Social Responsibility initiative.
• The initiative aims to tackle gender inequality by nurturing girls’ imaginations and fostering their ability to explore opportunities.
• It aligns with the government’s Beti Bachao Beti Padhao programme.
• Under the initiative, a 1-month workshop for young girls is conducted during the summer holidays which offers them a platform for their all-round upliftment and development.
• Starting in April 2024, the new edition of GEM will add nearly 3,000 meritorious children belonging to underprivileged sections of society at 42 identified locations of the power sector PSU. With this, the total number of children benefiting from the Mission will cross 10,000.
• The GEM Mission was initiated as a pilot project in 2018 with just three locations and 392 participants.
• The Mission focuses on the empowerment of girls through various interventions and aims to identify and nurture their leadership qualities so that they can be future-ready. The workshop focuses on health, hygiene, safety, fitness, sports and yoga.

4. National Maritime Day

Syllabus: GS-3, Economy

Prelims: National Maritime Day

Context:

61st National Maritime Day celebrated on 5 April.

About the National Maritime Day:

• Every year, National Maritime Day in India is celebrated on 5th April. 
• It is a day celebrated to show gratitude to the men who spend many months in the sea, to carry out the bulk of India’s trade and commerce at a global level. 
• Since 1964, National Maritime Day has been celebrated in India on April 5.
• Indian National Maritime Day is celebrated on April 5 because, on this date in 1919, SS Loyalty, the first Indian flag merchant ship, sailed from Mumbai to London. Scindia Steam Navigation Company Ltd was the owner of SS Loyalty.

Read more on National Maritime Day in the linked article.

5. India-EU Trade and Technology Council (TTC)

Syllabus: GS-2, International Relations; GS-3, Economy

Prelims: India-EU Trade and Technology Council (TTC); Collaboration with EU for Recycling of E-Vehicle Batteries

Mains: India – EU relations

Context:

EU-India joined forces to promote start-up collaboration on the recycling of e-vehicle batteries under the Trade and Technology Council.

Details:

• The European Union (EU) and India launched an Expression of Interest (EoI) for startups working in Battery Recycling Technologies for Electric Vehicles (EVs) for a matchmaking event. 
• The matchmaking aims to enhance the cooperation between European and Indian Small and Medium-sized Enterprises (SMEs) and startups in the clean and green technologies sector. 
• This initiative takes place under the India-EU Trade & Technology Council (TTC), announced by India and the European Commission in New Delhi on 25th April 2022.
• This event is also part of a broader effort to promote a sustainable agenda, foster innovation, and forge stronger economic relations between the European Union and India.

Significance: 

• The EoI provides a platform for Indian and EU startups/SMEs in the field of EV Battery Recycling Technologies to pitch their innovative solutions and engage with Indian/European venture capitalists and solution adopters. 
• Twelve innovators, six each from India and the EU will be selected and get a pitching opportunity during the Matchmaking Event, scheduled for June 2024. 
• Six finalists (three from the EU and three from India) will be selected following their pitching presentations and awarded the possibility to visit India and the EU, respectively.
• Apart from demonstrating their expertise in battery recycling technologies, the event also provides a chance for Indian innovators to establish strategic alliances with their counterparts in the EU, accelerating the development of advanced battery recycling techniques focused on waste minimization and resource sustainability.

Event highlights:

1. To identify, support, and promote startups/SMEs dedicated to advancing the field of battery recycling technologies for EV
2. To facilitate cooperation, explore potential trade avenues, deepen customer relations and explore investment avenues for the shortlisted startups/SMEs

India-EU Trade and Technology Council (TTC):

• First announced by the European Commission and India in April 2022, the TTC was established in February 2023.
• It is a strategic coordination mechanism that allows both sides to tackle challenges at the nexus of trade, trusted technology, and security and deepens cooperation in these fields.
• The TTC is a key forum to deepen the strategic partnership on trade and technology between the two partners.
• The TTC will help enhance the India – EU bilateral trade.

Read more on the India – EU relations in the linked article.

Read previous PIB articles here.