11 Jan 2024: PIB Summary for UPSC

TABLE OF CONTENTS

1. One District One Product achieves milestone
2. India-UAE Business Summit
3. India Post Payments Bank
4. Thirty Meter Telescope (TMT)

1. One District One Product achieves milestone

Syllabus: GS-3, Schemes

Prelims: One District One Product

Context: One District One Product (ODOP) achieves a milestone enlisting 50 aggregators promoting Brand India.

Details:

• ODOP under the DPIIT was launched with the aim of fostering balanced regional development across all districts of the country.
• The idea is to select, brand, and promote one product from each district of the country.
• The programme has achieved the milestone of successfully enlisting over 50 aggregators pursuing the goal of uniting organisations dedicated to promoting ‘Brand India’. 
• This diverse community of ODOP aggregators spans 25+ States and Union Territories, encompassing over 160 districts in its representation. 
• This initiative aims to enlighten consumers about the origin of the ingredients in the products they use, establishing a distinct identity and fostering awareness.
• The 50th aggregator is the Ayurvedic wellness company, Forest Essentials, presenting beauty and wellness ODOP-identified value-added products to a global stage.

2. India-UAE Business Summit

Prelims: India-UAE Business Summit, Vibrant Gujarat Global Summit

Context:

India-UAE Business Summit held as part of Vibrant Gujarat Global Summit 2024 to strengthen bilateral ties.

Details:

• At the inaugural session of the summit, the UAE – India CEPA Council (UICC) website was launched.
• The summit also witnessed a discussion session for further cooperation in areas such as trade finance, investment facilitation, and sectoral collaboration. 
• The Indian and the UAE delegations comprised representatives from both the Government and the industry. 
• The session included a presentation on the Bharat Mart which is a proposed warehousing facility by India in the UAE to support Indian exporters.

India – UAE:

• India-UAE trade rose to USD 85 billion in 2022, making the UAE India’s third-largest trading partner for the year 2022-23 and India’s second-largest export destination. 
• In February 2022, India became the first country with which the UAE signed a Comprehensive Economic Partnership Agreement (CEPA). 
  • Bilateral trade has increased by approximately 15% since the entry into force of the CEPA on 1 May 2022.
  • The CEPA has helped reduce tariffs on more than 80% of product lines, eliminate barriers to trade and create new pathways for investment and joint ventures. 
  • In the first 12 months of the CEPA, bilateral non-oil trade reached US$50.5 billion, representing a growth of 5.8% compared to the corresponding period a year earlier.

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

3. India Post Payments Bank

Prelims: India Post Payments Bank

Context:

India Post Payments Bank enter into MoU with Hindustan Zinc to offer financial inclusion services to its CSR beneficiaries.

Know more about India Post Payments Bank in the link.

4. Thirty Meter Telescope (TMT)

Syllabus: GS-3, Science and Technology

Prelims: Thirty Meter Telescope (TMT)

Context:

Indian delegation visits Hawaii to discuss the progress of TMT.

Know what is the Thirty Meter Telescope (TMT) in the link.

Read previous PIB articles here.