[Newsbits] 19-30.11.2024: Nanozymes, E-Daakhil Portal & more


India aims to develop the Andaman and Nicobar Islands into a tuna export hub, capitalizing on its annual tuna yield potential of 64,500 tonnes. This move aligns with the surge in tuna exports, which rose 31.83% in 2023-24, generating $87.96 million. Despite abundant resources, challenges such as outdated fishing methods and inadequate infrastructure hinder full potential. The government is focusing on skill development, modernizing facilities, and sustainable practices. This initiative will enhance exports, provide local employment, and boost India’s marine economy, while requiring investments in technology and ecological management.

The G20 Summit 2024 in Rio de Janeiro, hosted by Brazilian President Luiz Inacio Lula da Silva, focuses on trade, climate change, and security amidst geopolitical tensions from wars in Gaza and Ukraine. Discussions are influenced by U.S. policy shifts under President-elect Donald Trump, including new tariffs and Ukraine-related arms policies. Brazil emphasizes sustainable development and taxing the super-rich, while Biden pledges support for the World Bank and clean energy collaboration. Xi Jinping promotes the Belt and Road Initiative. The summit highlights global cooperation challenges and opportunities for tackling economic and environmental issues.

The Nepal-India Border Security Meeting in Kathmandu focuses on enhancing border management and addressing cross-border crimes, including drug trafficking and human trafficking. Led by SSB DG Amrit Mohan Prasad and Nepali APF Chief Aryal, the meeting emphasizes bilateral cooperation and dignified border crossings. Key discussions include improving information sharing and curbing unauthorized entries. Held at Singh Durbar, the engagement reflects the strong ties between the two nations. Collaborative measures, such as intelligence sharing and joint operations, aim to bolster regional security and ensure sustainable border management solutions.

India’s exports surged by 27.7% in October 2024, reaching $39.2 billion, driven by robust performance in engineering goods (+39.4%), electronics (+45.7%), and agricultural products like rice (+85.8%). Labour-intensive sectors like garments (+35.1%) and handicrafts (+32.7%) also contributed significantly. Import trends showed declines in gold (-1.4%) and precious stones (-29%), while vegetable oil imports surged (+50.9%). India’s services trade surplus rose to $16.1 billion, reflecting sustained economic growth. With policies lifting rice export restrictions and diversified trade, the focus remains on strengthening infrastructure and addressing sector-specific challenges for sustained growth.

The Chennai-Vladivostok Maritime Corridor has commenced operations, cutting transport time between India and Far East Russia from 40 to 24 days and reducing the travel distance by 40%. Key ports like Paradip and Vizag facilitate logistics, while India also collaborates with Greece on the India-Middle East-Europe Economic Corridor (IMEEC). This initiative strengthens trade efficiency and ties with Russia, aligning with India’s maritime ambitions. Despite challenges such as geopolitical tensions and infrastructure demands, the corridor enhances connectivity and positions India as a rising maritime power.
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