14 Sep Prelims Bits: Organizations in the news.
This article covers “Daily Current Affairs” and topic details of the International organization in the news.
Syllabus mapping:
Various events of national and international importance.
For Prelims:
What are the key facts related to the CHIP-4, GCC, and ICA and India’s engagement with all these organizations?
CHIP-4 Alliance
Recent Context:
Recently India joined the US-led Chip 4 alliance which will boost semiconductor manufacturing in India.
Key Facts:
CHIPS Act: The CHIPS Act, signed into law by President Joe Biden in August 2022, is designed to enhance semiconductor production and research within the US. The Act also aims to reinforce collaborations with international allies, including India.
Members: United States, Japan, Taiwan, South Korea, India (2024)
Formation: Proposed By: United States, Date: March 2022
Objective:
1. Enhance the “security” and “resilience” of global semiconductor supply chains.
2. Reduce dependence on semiconductor production in China.
3. Promote sustainable semiconductor manufacturing within member countries.
4. Industry Impact: Represents over 70% of the global semiconductor industry’s value.
Key Goals:
1. Policy Cooperation: Align policies to support semiconductor production and supply chain stability.
2. Supply Chain Security: Improve the security and resilience of semiconductor supply chains.
3. Investment and Innovation: Encourage investment and innovation in semiconductor technologies.
Strategic Importance:
1. Aims to strengthen collaboration among leading semiconductor producers to address global supply chain challenges.
2. Seeks to secure and diversify semiconductor manufacturing sources to mitigate geopolitical risks.
Focus Areas:
1. Sustainable and efficient semiconductor production practices.
2. Joint efforts to advance semiconductor technology and infrastructure.
3. Coordinated response to supply chain disruptions and market fluctuations.
Gulf Cooperation Council (GCC)
Recent Context:
India’s Foreign Minister recently attended the trade meeting with the GCC country’s ministers and aimed to enhance the trade ties between the GCC and India.
Gulf Cooperation Council (GCC): Key Facts
Establishment: May 1981 Location: Riyadh, Saudi Arabia
Member States: Saudi Arabia, Kuwait, United Arab Emirates, Qatar, Bahrain, and Oman
Organizational Structure: Supreme Council, Ministerial Council, Secretariat General.
Objectives and Goals:
1. Economic integration among member states.
2. Coordination in political, economic, and cultural matters.
3. Promotion of common interests and goals within the region.
Key Initiatives:
1. Efforts to create a common market and customs union.
2. Collaborations on security and defense issues.
3. Joint ventures and investments across member states.
Presidency Rotation: The presidency of the GCC rotates annually among the member states in alphabetical order.
Major Achievements:
1. Establishment of a single economic market.
2. Coordination in regional security and defense.
3. Collaborative projects in various sectors including infrastructure, technology, and health.
India’s Trade Relations with GCC
Trade Volume: The GCC is India’s largest trading partner bloc, with bilateral trade valued at over USD 154 billion for the fiscal year 2021-22.
Oil and Gas Imports: GCC countries supply nearly 35% of India’s oil imports and 70% of its gas imports. In 2021-22, India’s crude oil imports from the GCC amounted to approximately $48 billion, while LNG and LPG imports totaled around $21 billion.
Investments: GCC investments in India are valued at over USD 18 billion, highlighting the significant economic ties between the two regions.
The International Cooperative Alliance (ICA) 1895:
Recent Context:
the ICA announced that India will hold the Meeting of the ICA for the first time in the history of the ICA in the month of November 2024.
Key Facts about the International Cooperative Alliance (ICA)
Foundation: Established in 1895, as an non-governemntal organization.
Purpose:
1. Promotes and supports cooperative enterprises worldwide
2. Advocates for cooperative principles and practices
Headquarters: Located in Geneva, Switzerland
Objectives:
1. Enhance cooperation among cooperatives
2. Develop and promote cooperative principles
3. Provide a global platform for cooperative enterprises
Core Principles:
1. Voluntary and open membership
2. Democratic members control
3. Member economic participation
4. Autonomy and independence
5. Education, training, and information
6. Cooperation among cooperatives
7. Concern for community
Organizational Structure:
General Assembly: The highest decision-making body
Board of Directors: Governs between General Assemblies
Sectoral Organizations: Focus on specific cooperative sectors (e.g., agriculture, consumer, worker cooperatives)
Global Reach: Represents around 3 million cooperatives
Membership: Approximately 1 billion cooperative members worldwide
Role: Apex body for cooperatives, providing a global voice, knowledge-sharing, and coordinated action
India and the ICA: The National Cooperative Union of India (NCUI) is the primary body representing Indian cooperatives within the ICA.
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PRELIMS QUESTIONS:
Q.1. With reference to the International Cooperative Alliance, Consider the following statement:
1. The ICA is an intergovernmental organization based in Geneva Switzerland.
2. The objective of the ICA is to enhance collaboration in cross-country cooperatives.
3. The Agricultural Produce Export Development Authority (APEDA) is the representative of India at ICA meetings and conferences.
How many of the above-given statements are correct?
A. Only one
B. Only two
C. All three
D. None
Q.2. Consider the following countries:
1. Saudi Arabia
2. Iran
3. Iraq
4. Kuwait
5. UAE
6. Oman
7. Afghanistan
How many of the above-mentioned countries are members of the Gulf Cooperation Council?
A. Only two
B. Only three
C. Only four
D. Only five
Q.3. Which of the following country has enacted the CHIPS ACT to enhance the manufacturing and development of the chips?
A. USA
B. EU
C. UK
D. UAE
ANSWERS
1. A
2. C
3. A
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