19 Jul 2022: PIB Summary for UPSC

TABLE OF CONTENTS

1. CII - EXIM Bank Conclave, 2022
2. GOAL Programme (Going Online as Leaders)
3. Foreign Direct Investment (FDI)

1. CII – EXIM Bank Conclave, 2022

Syllabus: GS 3, Economy; Indian Economy and issues relating to planning and mobilization of resources.

Prelims: 17th CII-EXIM Bank Conclave on India – Africa Growth Partnership.

Context – Inaugural Session of the Conclave, Address by Commerce and Industry Minister, Piyush Goyal.

Details:

• Commerce and Industry Minister, Piyush Goyal called for expansion and diversification of India-Africa economic relations. Speaking at the inaugural session, he said that India’s ties with Africa are based on trust, friendship and a deep understanding of each other’s requirements. He further said that there are four pillars of India-Africa engagements i.e., people, business, trade and government. 
• India plans to strengthen its partnership with Africa in four areas to fulfil the aspirations of both countries-
  • Solar power
  • Defence trade and military exchanges in the Indian Ocean
  • Physical and digital infra, helping in IT/Consultancy 
  • Healthcare and pharma

Also read: India – Africa relations

About CII-EXIM Bank Conclave

• The CII-EXIM Bank Conclave on India-Africa Partnership was launched in the year 2005 with the support of the Ministry of External Affairs and the Ministry of Commerce and Industry, GoI.
• Over the last 16 editions, the conclave has played a pivotal role in encouraging Indian companies to establish and grow their footprints in Africa and the level of economic engagement between India and Africa has grown multi-dimensionally.

Know more about the conclave in PIB dated Mar 11, 2019.

2. GOAL Programme (Going Online as Leaders)

Syllabus: GS 2, Social Justice; Welfare schemes for vulnerable sections of the population.

Prelims: GOAL Programme

Context – Aiming at digital empowerment of tribal youth and women through the concept of mentor and mentee.

Details:

• The second phase of the GOAL Programme (GOAL 2.0) was launched in June 2022 with an aim to digitally upskill tribal youth by promoting entrepreneurship and opening up opportunities for them using digital technology.
• GOAL is a joint initiative of the Ministry of Tribal Affairs and Meta (formerly Facebook).
• GOAL 2.0 programme will be open to all people from tribal communities. The programme aims to upskill and digitally enable youth via Facebook live sessions and Meta Business Coach, a digital learning tool.

About GOAL 1.0:

• The first phase of the GOAL programme was launched as a pilot project in May 2020 and it was completed by 2021.
• The mentees in the first phase were provided with 40+ hours of training across three course pillars:
  • Communication and life skills,
  • Enabling Digital Presence and
  • Leadership and Entrepreneurship.

3. Foreign Direct Investment (FDI)

Syllabus: GS 3, Economy; Growth and Development.

Prelims: FDI, 2021.

Context – India attracted USD 343.64 million in FDI.

Details:

• FDI infuses long-term sustainable capital in the economy and contributes towards technology transfer, development of strategic sectors, greater innovation, competition and employment creation amongst other benefits. GoI endeavours to attract and promote R & D intensive FDI in order to supplement domestic capital, technology and skills for accelerated economic growth and development.
• India attracted USD 343.64 million in FDI equity inflow in the R & D sector during C.Y 2021 (calendar year) which is 516% higher compared to the previous C.Y 2020 (USD 55.77 million).
• Karnataka is the top FDI equity recipient state in R&D (C.Y 2021) followed by Telangana and Haryana.
• Singapore is the top investing country in R&D in C.Y 2021 with a 40% share of total FDI equity in R&D followed by Germany (35%) and the U.S.A (11%).

Read previous PIB here.

July 19th, 2022, PIB:- Download PDF Here