India Decided to join UN-based ‘Better than Cash Alliance’
- India decided on September 1, 2015 to join the UN-based ‘Better Than Cash Alliance’, which promotes transition from cash to digital payments to reduce poverty and drive inclusive growth and to share success stories from PMJDY, the world’s largest financial inclusion programs.
- The new partnership with the Better Than Cash Alliance, made up of governments, companies, and international Organizations, is an extension of Indian government’s commitment to reduce cash in its economy.
- The announcement for joining has come ahead of United Nations Special Summit in New York, where Prime Minister Narendra Modi along with other world leaders will launch Sustainable Development Goals (SDGs).
US Extended Anti-dumping Duty on Indian Mushrooms for 5 Years
- The USA has extended the anti-dumping duty on Indian preserved mushrooms for another five years on August 30, 2015. The move would impact domestic exporters as the US is a major export destination for India.
- The USA International Trade Commission (USITC) has determined that revoking the existing anti-dumping duty orders on preserved mushrooms from Chile, China, India, and Indonesia are likely to lead to continuation or recurrence of material injury within a reasonably foreseeable time.
- In 2014-15, India exported mushrooms worth $ 16.08 million and during April-May this fiscal the exports aggregated at $ 1.63 million. India’s mushroom exports to the USA declined to $ 0.11 million in 2014-15 from $ 24.76 million in 2011-12.
Read Also –Â Economy and Banking Current Affairs September 2015.
India Pitched for Anti-terror Treaty, UN Reforms
- India made a strong pitch for finalization of the Comprehensive Convention on International Terrorism (CCIT) on August 30, 2015 at the UN during a meeting with the President-elect of the global body and also called for urgent reforms of the global body to reflect present day world realities.
- President-elect of the UN General Assembly Mogens Lykketoft, was in New Delhi on a two-day visit. During the talk with him India is pushing hard for introduction of process for UN Security Council (UNSC) reforms in permanent category in 70th year of UN’s existence.
- India’s demanded urgent reforms in UNSC to reflect present day world realities in order to reflect current geopolitical realities and increasing role of developing nations and early finalisation of the CCIT, the treaty proposed by India in 1996 in order to make it binding for countries to ban terrorists, deny funds and safe haven to them.
India Lost Solar Case against USA at WTO
- India has lost another case against the USA at WTO on August 27, 2015 as the body ruled that India’s domestic content requirements under its solar power programme were inconsistent with the international norms. The USA alleged that forced localisation requirements restricted the USA exports to Indian markets.
- The USA alleged that India’s programme appears to discriminate against the USA solar equipment by requiring solar energy producers to use locally manufactured cells and by offering subsidies to those developers who use domestic equipment.
- On January 11, 2010, India launched its national solar policy—Jawaharlal Nehru National Solar Mission. The country has an ambitious target of generating 20000 MW of solar power by 2022. In June, 2015, India lost a case when the WTO ruled that the Indian ban on import of poultry meat, eggs arid live pigs from the USA was inconsistent with the global norms.
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