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24 Aug 2021: PIB Summary & Analysis

TABLE OF CONTENTS

1. India – ASEAN
2. Nidhi Company
3. Mission Sagar
4. International Trade Financing Services Platform (ITFS)
5. eSanjeevani Initiative
6. Directed Energy Deposition Process
7. NDC Transport Initiative for Asia (TIA 2020-2023)
8. HGCO19 found safe after phase I trials

1. India – ASEAN

Context:

The “India-ASEAN Engineering Partnership Summit” was organised by the Engineering Exports Promotion Council (EEPC) with support from the Ministry of External Affairs and Department of Commerce.

Details:

  • The summit offers an important platform for the engagement of Indian industry on India-ASEAN partnership in engineering trade and investments.
  • Trade is an important engine of growth for India and ASEAN.
  • ASEAN has over 15 percent share in India’s global engineering shipment.
  • It is also likely to be a key region to focus with a target of around USD 16 billion of exports for 2021-22.
  • ASEAN will be an important region for India with an export target of US$ 46 billion in meeting the global export target of US$ 400 billion in FY 2021-22.
  • ASEAN as a region is the third largest export destination for Indian engineering products after the EU and North America.
  • Among the ASEAN member nations, Singapore and Malaysia are major export destinations for Indian engineering products.
  • The year 2021 marks the 25th anniversary of India-ASEAN dialogue partnership and 10 years of the Strategic Partnership.

Read more on ASEAN in the linked article.


2. Nidhi Company

Context:

Government cautioned stakeholders as 348 companies fail to meet requisite criteria for declaration as Nidhi company under Companies Act 2013 and Nidhi Rules 2014.

Details:

  • Under Section 406 of the Companies Act, 2013 and Nidhi Rules, 2014, companies incorporated as Nidhi Companies need to apply to the Central Government in form NDH-4 for declaration as a Nidhi Company.

Know more about Nidhi Company in PIB dated March 12, 2020.


3. Mission Sagar

Context:

Indian Naval Ship Airavat arrived at Jakarta, Indonesia to deliver Medical Supplies.

Details:

  • INS Airavat, with a primary role to carry out amphibious operations, is also configured to perform HADR missions and has been a part of various relief efforts across the Indian Ocean in the past.
  • Airavat delivered 10 Liquid Medical Oxygen (LMO) containers, based on the requirement projected by the Government of Indonesia.

Read more about Mission Sagar in the linked article.


4. International Trade Financing Services Platform (ITFS)

Context:

The International Financial Services Centres Authority (IFSCA) has invited applications from eligible entities that want to set up and operate the international trade financing services (ITFS) platform at GIFT City in Gandhinagar, Gujarat.

Details:

  • The ITFS platform will function from GIFT IFSC for providing trade financing services.
  • Eligible entities can apply in the prescribed format along with supporting documents to the IFSCA by September 15.
  • The IFSCA will then grant an in-principle approval to operate in its regulatory sandbox environment for the said period, before allowing regular operations.

About the ITFS:

  • The ITFS would be an electronic platform for facilitating the trade finance requirements of exporters and importers by providing access to multiple financiers.
  • Once operational, it will play a role in arranging credit for exporters and importers from global institutions through factoring, forfaiting and other trade financing services at competitive cost.
  • The platform is expected to be leveraged by exporters and importers across the world for availing trade finance services, making GIFT IFSC a preferred location for international trade financing.

5. eSanjeevani Initiative

Context:

Health Ministry’s eSanjeevani initiative completed 1 crore consultations.

Know more about eSanjeevani in the linked article.


6. Directed Energy Deposition Process

Context:

Indian scientists have for the first time repaired aero-engine components through the Directed Energy Deposition (DED) process.

Details:

  • The scientists from the International Advanced Research Centre for Powder Metallurgy & New Materials (ARCI) have indigenously made powders suitable for the additive manufacturing process called the Directed Energy Deposition process.
  • They made the powder using inert gas atomizer available at ARCI by melting unused scrap material.
  • Utilising this, ARCI is developing the Laser-DED process for the repair of aero-engine components made of Ni-based superalloy.

Significance:

  • Ni-based superalloys are widely used in aero-engine components.
  • Despite having exceptional properties, they are prone to damage due to extreme operational conditions.
  • Manufacturing defects during the casting or machining process are another major cause of rejection, and tons of such unused components are scrapped due to minor defects.
  • This development can significantly reduce repair costs and overhaul time.

What is the Directed Energy Deposition (DED) process?

  • DED process is an emerging additive manufacturing or 3D printing technique.
  • It allows for the creation of objects by melting the material in powder or as a wire with a focused energy source as it is deposited by a nozzle on a surface.
  • In a DED printer, the nozzle head moves around a fixed object for depositing the material in specific locations.
  • Despite it being possible to build full parts with DED techniques, they are typically employed for repairing or adding additional material to existing objects.
  • Directed Energy Deposition (DED) is basically a 3D printing method which uses a focused energy source, such as a plasma arc, laser or electron beam to melt a material which is simultaneously deposited by a nozzle.
  • The DED process is known by other names, including Laser Engineered Net Shaping (LENS), Direct Metal Deposition (DMD), Electron Beam Additive Manufacturing (EBAM), Directed Light Fabrication, and 3D Laser Cladding, depending on the exact application or method used.

7. NDC Transport Initiative for Asia (TIA 2020-2023)

Context:

‘Forum for Decarbonizing Transport’ launched in India as part of the NDC-Transport Initiative for Asia (NDC-TIA) project.

Who launched the forum?

  • NITI Aayog and World Resources Institute (WRI), India.

Background:

  • India has a massive and diverse transport sector, which is also the third most carbon dioxide emitting sector.
  • According to government data, within the transport sector, road transport contributes to more than 90% of the total CO2 emissions.
  • Even though the government has initiated several programmes to decarbonise the transport sector, with a focus on the adoption of electric vehicles (EVs), there is a need to create a favourable ecosystem for different stakeholders to overcome the challenges faced.

About NDC Transport Initiative for Asia (TIA 2020-2023):

  • The NDC Transport Initiative for Asia (TIA 2020-2023) is a joint programme of seven organisations that will engage China, India, and Vietnam in promoting a comprehensive approach to decarbonizing transport in their respective countries.
  • The project is part of the International Climate Initiative (IKI).
  • NITI Aayog is the implementing partner for the India component of the project.
  • The NDC-TIA India component focuses on developing a coherent strategy of effective policies and the formation of a multi-stakeholder platform for decarbonizing transport in the country.

8. HGCO19 found safe after phase I trials

Context:

India’s first mRNA-based Covid vaccine found to be safe, given nod for Phase II/III trial.

Details:

  • Gennova Biopharma, the Pune-based biotechnology company working on the nation’s first mRNA-based Covid vaccine, submitted the interim clinical data of the Phase I study to the Central Drugs Standard Control Organisation (CDSCO).
  • Consequently, India’s first mRNA-based Covid vaccine was found to be safe, and was given the go ahead for Phase II/III trials.
  • The Vaccine Subject Expert Committee (SEC) reviewed the interim Phase I data and found that HGCO19 was safe, tolerable, and immunogenic in the participants of the study.
  • Gennova’s mRNA-based Covid vaccine development program was partly funded by the Department of Biotechnology (DBT), Government of India.

Read previous PIB here.

August 24th, 2021, PIB:- Download PDF Here

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