07 May 2024 PIB
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TABLE OF CONTENTS
1. MEDITECH STACKATHON 2024 2. Border Roads Organisation (BRO) 3. Joint Group of Customs (JGC) Meeting between India and Bhutan
1. MEDITECH STACKATHON 2024
Syllabus: GS-3, Economy
Prelims: MEDITECH STACKATHON 2024
Context:
The Department of Pharmaceuticals launched the MEDITECH STACKATHON 2024 in collaboration with CII in New Delhi.
About Meditech Stackathon:
- The MEDITECH STACKATHON is designed to catalyse transformative change within India’s burgeoning MedTech sector by undertaking a comprehensive value chain analysis of select medical devices.Â
- Through close consultation with industry leaders, policymakers and experts, the STACKATHON aims to address critical challenges, foster domestic manufacturing, and reduce import dependence, positioning India as a global leader in medical technology.Â
- Through the STACKATHON, participants will delve into the complexities of different product segments within the medical devices industry to gain insights into their unique challenges and opportunities, and analyse and map value chains across various segments of the medical devices industry to identify key stakeholders, processes, and dependencies, identify critical issues hindering the development of the medical devices industry, such as import dependence, regulatory hurdles, and technological gaps.
- The STACKATHON would deliberate in eight focused groups which are:
- Cancer Therapy, Imaging, Critical Care, Assistive Medical Devices, Body Implants, Surgical instruments and Hospital Equipment, Consumables & Disposables, and IVD Instruments and reagents.Â
- Each focus group is tasked with specific objectives such as segment-wise identification of important medical devices, assessment of import-export dynamics, examination of duty structures, and their implications across the entire value chain.
Medtech Industry in India:
- The industry is estimated to grow at a rate of 28% annually, reaching a size of USD 50 billion by 2030.
- India is the fourth-largest market for medical devices in Asia and among the top 20 globally.Â
- Net imports for 2022-23 stands at USD 4101 Million with an import coverage ratio of 0.45.
2. Border Roads Organisation (BRO)
Syllabus: GS-2, Polity & Governance; GS-3, Security & Defence
Prelims: Border Roads Organisation (BRO)
Context:
65th Raising Day of Border Roads Organisation (BRO).
About the Border Roads Organisation (BRO):
- May 7 is the Raising Day of the Border Roads Organisation (BRO).
- Raised with just two projects in 1960 – Project Tusker (now Vartak) in the East and Project Beacon in the North, the BRO has become a vibrant organisation with 18 projects operating in 11 States and three Union Territories.Â
- It has established its credentials as the leading infrastructure construction agency in high-altitude and difficult snow-bound areas.
- The BRO executes road construction and maintenance works at altitudes ranging from 9,000 ft up to 19,000 ft along the Northern and Western frontiers, primarily to meet the strategic requirements of the Armed Forces.
- It recently constructed the Sela Tunnel in Arunachal Pradesh on Balipara-Chardwar-Tawang Road.
Upcoming project of the BRO:
- Shinkun La Tunnel
- 4.10-km long
- Once completed, this tunnel will become the world’s highest tunnel at 15,800 ft bypassing Mila Tunnel in China at 15,590 ft.
Know more about the Border Roads Organisation in the linked article.
3. Joint Group of Customs (JGC) Meeting between India and Bhutan
Syllabus: GS-2, International Relations
Mains: India – Bhutan relations
Context:
The 5th Joint Group of Customs (JGC) meeting between India and Bhutan was held on 6th-7th May 2024 in Leh, Ladakh.
Details:
- Issues discussed in the meeting included the opening of new Land Customs Stations and notifying new trade routes, development of infrastructure, automation and digitisation of transit processes, prevention of smuggling, coordinated cross-border management, pre-arrival exchange of Customs data, bilateral agreement on Customs cooperation and movement of transit cargo under electronic cargo system among others.
- The India-Bhutan Joint Group of Customs meetings are held annually to discuss issues relating to re-defining and re-engineering of customs procedures and promote customs cooperation and cross-border trade facilitation with alignment to global best practices.
- These meetings play a vital role in enhancing connectivity and developing trade infrastructure for smooth customs clearance at land borders.Â
- There are 10 Land Customs Stations along the India-Bhutan Border in the States of West Bengal (6) and Assam (4).
- Trade with Bhutan through the land Customs Stations is significant as Bhutan is a land-locked country. Â
India – Bhutan Relations:
- India is Bhutan’s top trade partner both as an import source and as an export destination.
- Since 2014, India’s trade with Bhutan has more than tripled from $484 million in 2014-15 to $1,615 million in 2022-23, accounting for about 80% of Bhutan’s overall trade.
Read more about India – Bhutan relations in the linked article.
Read previous PIB articles here.
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