Current Affairs 7th december 2015

• India-Russia joint naval exercise INDRA NAVY-15 begins in Visakhapatnam

The eighth edition of India-Russia joint naval exercise-INDRA NAVY-15 has begun in Visakhapatnam, Andhra Pradesh.

INDRA NAVY-15 is a bilateral maritime joint naval exercise between the Indian and Russian navies for epitomising the strategic relationship between the two countries.

About INDRA NAVY-15

• The primary aim is to increase interoperability between the navies of two countries and develop common understanding of procedures for maritime security operations.
• The scope includes wide- ranging professional interactions during the Harbour phase and spectrum of maritime operations during the Sea Phase.
• The Harbour Phase encompasses planning conferences ashore and table-top exercises prior to progressing to sea. The Sea Phase would include various facets of fleet operations.
• Indian Navy will be represented by: INS Sahyadri– an indigenous frigate, INS Ranvijay– a guided missile destroyer and INS Shakti-a Fleet Support Ship.
• It also is represented by INS Sindhuvir– a submarine, P81 Long Range Maritime Patrol Aircraft, Dornier Short Range Maritime Patrol Aircraft, Hawk Advanced Jet Trainer.
• Russian Federation Navy (RFN) will be represented by: 4 ships from Vladivostok based Pacific Fleet. They are Bystry-a destroyer, Varyag-a cruiser, Alatau-a rescue ocean going tug and Boris Butoma-a fleet tanker.

• Canada sends first consignment of Uranium to India

Canada has successfully sent the first consignment of 250 tonnes of uranium to India as part of bilateral civil nuclear cooperation between both countries.

It was shipped by Canada’s Cameco Inc, as part of contract with Department of Atomic Energy (DAE) that was signed during Prime Minister Narendra Modi’s offical visit to Canada in April 2015.

With this the 41-year-long hiatus in the bilateral nuclear cooperation between both countries finally came to an end. Canada had completely banned exports of uranium and nuclear hardware to India after it had conducted first nuclear test on 18 May 1974. It was alleged that India had used Canadian technology to develop a nuclear bomb for this test.

It should be noted that Canada is the second-largest producer of Uranium globally and is the third country to supply uranium to India after Russia and Kazakhstan.

Background

The India-Canada civil nuclear contract was signed in line with the Canada-India Nuclear Cooperation Agreement that took effect in 2013. The agreement was signed after the Nuclear Supplier Group (NSG) had granted its waiver for use of atomic power for civilian purposes in 2008 ending India’s 3 decade long isolation from international nuclear trade.

As per the supply agreement, Canada’s Cameco Corporation is going to supply 3,000 metric tonnes of uranium to India for next five years starting from year 2015. These supplies will be under the International Atomic Energy Agency (IAEA) safeguards.

• Singapore replaces Mauritius as top source of FDI into India

Singapore has replaced Mauritius as the top source of foreign direct investment (FDI) into India during the first half of the current fiscal year 2015-16.

It was unveiled by the data during April to September 2015 period released by the Department of Industrial Policy and Promotion (DIPP).

Key facts

• India has attracted 6.69 billion dollars FDI from Singapore while it received 3.66 billion dollars from Mauritius.
• Highest foreign investment sector wise : Computer software and hardware (3.05 billion dollars), trading (2.30 billion dollars), services and automobile (1.46 billion dollars each) and telecommunications (659 million dollars).
• Foreign investment from Singapore has more than doubled from 2.41 billion dollars in the same period in FY year 2014-15.
• Overall, Singapore accounts for 15 per cent of the total inbound FDI received by India during April 2000 and September 2015. However, Mauritius accounted for 34 per cent of FDI during the same period.

• Union Government releases commemorative coins on Dr B R Ambedkar

Prime Minister Narendra Modi has released 2 commemorative coins on Dr B R Ambedkar as part of the 125thbirth anniversary year celebrations of the architecture of Indian Constitution.

The coins are of 10 rupee and 125 rupee denomination and were issued on the 60th Mahaparinirvan Divas of Babasaheb Ambedkar.

The Union government is celebrating 125th birth anniversary of Dr B R Ambedkar in the year 2015. The objective of yearlong celebrations is to make the world aware about the life and the work of legendary social reformer who is often considered as a champion of the underprivileged.

Earlier in July 2015, Prime Minister Narendra Modi had chaired the first meeting of the National Committee on Nationwide Celebration of 125th Birth Anniversary of Dr. B.R. Ambedkar. In September 2015, Union Communications and IT Minister Ravi Shankar Prasad had released a commemorative postal stamp on Dr. Ambedkar.

• Indian Railways flags off first double decker Goa-Mumbai train

Indian Railways has flagged off the first inaugural service of the Goa to Mumbai double-decker air-conditionedShatabdi train.

The fully air-conditioned double-decker train was the first of its kind in the country and was flagged off fromPanaji by Union Railway Minister Suresh Prabhu. It would play important role in boosting tourism in Goa by bringing the tourists over to the coastal state during the peak tourist season.

The train will run thrice a week between Margao Railway Station and the Lokmanya Tilak Terminus (LTT) in Mumbai. It would cover the distance between two states in around 12 hours and has total eight compartments with a seating capacity of 120 in each compartment.

• Australia wins Hockey World League Final by defeating Belgium

Australia has won the 2014-15 Men’s Hockey World League Final by defeating Belgium.

In the final match played at Sardar Vallabh Bhai Patel Stadium, Raipur Australian team defeated Belgium by 2-1goals.

India was placed at third place in this league after defeating world number two and defending championsNetherlands by 3-2 goals in the penalty shoot-out.

Top three teams of Hockey World League Final

• Champions: Australia (1st title).
• Runner-up: Belgium.
• Third place: India.

In this edition of Men’s Hockey World League Final total 8 teams had participated. They were Australia, India (Host), Belgium, Great Britain, Germany, Argentina, Netherlands and Canada

• World Bank launches $500 million Transformative Carbon Asset Facility

The World Bank has launched a $500 million dollars Transformative Carbon Asset Facility (TCAF) to help developing countries pay for emission reductions and combat climate change.

It is market-based scheme specially designed to help developing countries and would establish the world’s first programmatic carbon market.

Key facts

• The scheme will reward countries for reducing emissions by paying a fee for each tonne of carbon dioxide (CO2) reduced.
• The facility will help countries implement their Intended Nationally Determined Contributions (INDCs).
• Of the total 500 million dollars, Germany, Norway, Sweden and Switzerland have jointly pledged an initial 250 million dollars investment.
• The scheme would support renewable energy, energy efficiency and waste management projects as well to cut emissions in cities and from the transport sector.

• Kaher Kazem appointed as President and MD of General Motors India

Kaher Kazem has been appointed as President and Managing Director General Motors (GM) India operations.

His appointment will come into effect from 1 January 2015 and shall replace Arvind Saxena who has decided to retire after leading the company since early 2014

Presently, Kazem is serving as chief operating officer (COO) of GM India since early 2015.Earlier he had managed the industrial side of the business and was president and MD of GM Uzbekistan from 2012.

Kazem had started his career as a senior engineer with GM Holden in Australia in 1995.

Since then he has held several leadership positions at GM Holden Manufacturing Operations. In 2009, he was appointed vice president of Manufacturing and Quality for GM Thailand (ASEAN).