Japan Current Affairs - 2019

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FDI inflows to India during April-December 2018

The data released from the Ministry of Commerce and Industries shows that the FDI inflows to India contracted by 7 per cent to USD 33.49 billion during April-December in the financial year 2018-19.

Key Facts about FDI inflow to India

  • The FDI inflow during April-December 2018-19 at USD 33.49 was 7 per cent lower than the FDI inflow of USD 35.94 billion during April-December 2017-18.
  • The sectoral wise breakup of the FDI in the corresponding period is as listed below: services (USD 5.91 billion), computer software and hardware (USD 4.75 billion), telecommunications (USD 2.29 billion), trading (USD 2.33 billion), chemicals (USD 6.05 billion), and the automobile industry (USD 1.81 billion).
  • Singapore was the largest FDI contributor during April-December 2018-19 with USD 12.97 billion inflow.
  • Singapore was followed by Mauritius (USD 6 billion), the Netherlands (USD 2.95 billion), Japan (USD 2.21 billion), US (USD 2.34 billion), and the UK (USD 1.05 billion).

This decline in the FDI inflows could put pressure on the country’s balance of payments and may also adversely impact the value of the rupee.

Month: Categories: Business, Economy & Banking

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Argentina sign the Framework Agreement of the International Solar Alliance

During the visit of Argentine President Mauricio Macri, Argentina has signed an agreement the Framework Agreement of the International Solar Alliance. The agreement was signed by Argentina’s Foreign Minister Jorge Faurie in the presence of ISA’s Director-General Upendra Tripathy.

The agreement of the International Solar Alliance was open opened for signature during the COP22 at Marrakech on November 15, 2016. The signatories of the agreement include India, France, Australia, UAE, UK, Japan amongst others. Argentina is the 72nd country to sign the Framework Agreement of the International Solar Alliance.

International Solar Alliance

International Solar Alliance aims to provide a common platform to address the specific solar technology deployment needs of the solar resource-rich countries located between the Tropic of Cancer and the Tropic of Capricorn.

Availability of abundance of solar energy in these countries can be utilised to generate cost-effective solar power to address the challenges of the absence of universal energy access, energy equity and affordability.

International Solar Alliance will not duplicate the efforts that other bodies like International Renewable Energy Agency (IRENA), Renewable Energy and Energy Efficiency Partnership (REEEP), International Energy Agency (IEA), Renewable Energy Policy Network for the 21st Century (REN21), United Nations bodies, bilateral organizations which are currently engaged in. Rather it will establish networks and develop synergies with them and supplement their efforts in a sustainable and focused manner.

International Solar Alliance is the first body that will have a secretariat in India. India plays a significant role in the alliance in terms of being a host as well as a major contributor in achieving the target of 1 TW of solar energy by 2030.  With a target to produce 100 GW of solar energy by 2022, India would account for a tenth of ISA’s goal.

Month: Categories: InternationalUPSC

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