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General Awareness

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INTERNATIONAL AFFAIRS - February 2016

Feb 2016

Dec 23, 2024

Trump Appoints Indian-American Sriram Krishnan as Senior Policy Advisor on AI

  • US President-elect Donald Trump announced the appointment of Sriram Krishnan, an aide of billionaire Elon Musk and Microsoft's ex-employee, as the Senior Policy Advisor for Artificial Intelligence at the White House Office of Science and Technology Policy.
  • Krishnan, who started his career as a founding member of Windows Azure at Microsoft, will work closely with ex-PayPal COO David Sacks, who was appointed as the White House Artificial Intelligence and Crypto Czar in his new administration.

24th BIMSTEC Senior Officials Meeting (SOM)

  • India participated in the 24th BIMSTEC Senior Officials Meeting (SOM), hosted virtually by Thailand. Jaideep Mazumdar, Secretary (East) from the Ministry of External Affairs (MEA), represented India during this important session. The meeting reviewed the progress made by BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) since the last SOM in March 2023 and discussed key areas of regional cooperation. Various documents and new mechanisms of cooperation were finalised, and preparations for the upcoming 6th BIMSTEC Summit were also discussed.

Dec 21, 2024

Canada PM Trudeau Looks Set to Lose Power

  • Canadian Prime Minister Justin Trudeau looked set to lose power early next year (2025) after a key ally said that he would move to bring down the minority Liberal government and trigger an election.
  • New Democratic Party leader Jagmeet Singh, who has been helping keep Trudeau in office, would present a formal motion of no-confidence after the House of Commons elected chamber returns from a winter break on January. 27.
  • If all the opposition parties back the motion, Trudeau will be out of office after more than nine years as Prime Minister and an election will take place.

24th BIMSTEC Senior Officials Meeting (SOM)

  • India participated in the 24th BIMSTEC Senior Officials Meeting (SOM), hosted virtually by Thailand on December 20, 2024. Jaideep Mazumdar, Secretary (East) from the Ministry of External Affairs (MEA), represented India during this important session. The meeting reviewed the progress made by BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) since the last SOM in March 2023 and discussed key areas of regional cooperation. Various documents and new mechanisms of cooperation were finalised, and preparations for the upcoming 6th BIMSTEC Summit were also discussed.
  • The discussions focussed on priority areas including sustainable development, regional connectivity, security, and people-to-people exchanges.

Dec 19, 2024

Shankar Sharma Reappointed as Nepal's Ambassador to India

  • Nepal's President, Ramchandra Paudel, reappointed Shankar Prasad Sharma as the Resident Ambassador of Nepal to India. Alongside this, Netra Prasad Timsina was named as the Resident Ambassador of Nepal to Malaysia. These appointments were made under Article 282 (1) of Nepal's Constitution, following recommendations from the Council of Ministers.
  • Sharma, a distinguished economist and diplomat, previously served as Nepal's Ambassador to the United States from 2009 to 2014 and as Vice-Chairman of the National Planning Commission between 2002 and 2006.
  • His earlier tenure as Ambassador to India lasted from March 2022 to July 2024, marking his return to a pivotal diplomatic role.

Independent TD Verona Murphy is Ireland's First Female Speaker

  • Verona Murphy became the first female speaker of the Irish parliament as part of attempts to form a coalition government.
  • Murphy, an independent TD for Wexford, defeated two Fianna Fáil candidates and one from Sinn Féin.
  • Her election was the first action taken by the new Dáil, which met for the first time.

Dec 17, 2024

UK Joins Indo-Pacific Bloc: A Post-Brexit Trade Milestone

  • The United Kingdom officially became the first European nation to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). This significant move, a result of the UK's post-Brexit strategy, aims to boost the country's economy by providing new business opportunities and trade benefits across the Indo-Pacific region. The UK's entry into the bloc was formalised after the ratification of the accession treaty by most CPTPP members, with several more expected to follow.
  • The CPTPP is an economic partnership that originally started with 11 members: Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, and Vietnam. After the US withdrawal from the Trans-Pacific Partnership (TPP) in 2016, the remaining countries established the CPTPP, reducing trade barriers on a wide range of goods and services. The bloc accounts for around 15% of global GDP and includes some of the fastest-growing markets globally.

Dec 16, 2024

ADB Approves $500 Million Loan for India's Sustainable Infrastructure

  • The Asian Development Bank (ADB) has recently approved a substantial loan aimed at boosting India's economic growth through sustainable infrastructure. This initiative targets critical sectors requiring investment and aims to promote eco-friendly practices within infrastructure development.
  • ADB has sanctioned a loan of $500 million to the India Infrastructure Finance Company Limited (IIFCL). This funding will be dedicated to enhancing long-term capital availability for various sustainable infrastructure projects across India.
  • The loan will support projects in key sectors including transportation, energy, urban development, education, and healthcare. These sectors have been identified as lacking adequate funding, making this financial support crucial for their development.
  • The objective of the loan is to improve IIFCL's capacity to incorporate green practices in infrastructure projects. This will involve establishing a dedicated sustainability unit within IIFCL to oversee the implementation of eco-friendly initiatives.

3rd India-UK Financial Markets Dialogue

  • The Dialogue was led by senior officials from the Indian Ministry of Finance and HM Treasury, with participation from Indian and UK regulatory agencies, including the Reserve Bank of India (RBI), the Securities and Exchange Board of India (SEBI), International Financial Services Centre Authority (IFSCA), Insurance Regulatory and Development Authority of India (IRDAI), Pension Fund Regulatory and Development Authority (PFRDA), the Bank of England (BoE) and the Financial Conduct Authority (FCA).
  • The Dialogue opened with reflections on developments since the last meeting in April 2023, including the opportunity presented by India's intention to release a financial sector vision and strategy and the UK's commitment to publishing a financial services growth and competitiveness strategy. Both sides agreed to work to maximise synergies.
  • Delegates from India and the UK shared perspectives on priorities and ongoing reforms within their respective jurisdictions. The Dialogue focused on collaboration in evolving fields of financial regulation, noting the areas of mutual interest in both markets for increasing bilateral trade and investment between the financial sectors.

India and Portugal Strengthen Bilateral Ties

  • On 13th December, 2024, External Affairs Minister Dr. S. Jaishankar held delegation-level talks with Portugal's Foreign Minister Paulo Rangel in New Delhi during the latter's four-day official visit to India.
  • Discussions covered trade, investment, defence, science and technology, tourism, culture, and people-to-people ties.
  • Both sides emphasised the growing potential for cooperation in IT, startups, renewable energy, green hydrogen, and mobility of skilled professionals.
  • The leaders exchanged views on global topics such as West Asia, Ukraine, and the Indo-Pacific, while reaffirming cooperation in multilateral fora, including the United Nations.
  • Both countries will celebrate the 50th anniversary of diplomatic ties in 2025, agreeing to commemorate the milestone in a meaningful way.
  • The visit builds on recent interactions, including the meeting between Prime Ministers Narendra Modi and Luis Montenegro during the G20 Summit in Rio, Brazil.
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