International Affairs, August 1st, 2018, Current Affairs Current Affairs Notes | EduRev

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INTERNATIONAL AFFAIRS

First ‘Nepal-India Think Tank’ Summit held in Kathmandu for bilateral cooperation
On July 31, 2018, First ‘Nepal-India Think Tank’ Summit held in Kathmandu, Nepal.

Objective:
To foster greater collaboration and knowledge-sharing among the think tanks of the two countries.

Key Points:
i. It was inaugurated by Former Prime Minister of Nepal and Co-Chairman of ruling Nepal Communist Party, Pushpa Kamal Dahal ‘Prachanda’.
ii. It was jointly organized by the Asian Institute of Diplomacy and International Affairs and Nehru Memorial Museum Library.
iii. It consisted of 4 sessions. They are :
1st session- Building innovative cooperation between Indo-Nepal think tanks,
2nd session- Bolstering bilateral economic ties for the shared prosperity,
3rd session- Managing security dilemma,
4th session- Redefining Nepal-India relations in 21st century.
iv. The summit will be hosted alternatively in Nepal and India annually.

Nepal:
♦ Prime Minister: K. P. Sharma Oli.
♦ President: Bidhya Devi Bhandari.
♦ Currency:  Nepalese Rupee.
♦ Capital: Kathmandu.

India imposed safeguard duty on solar cells imports from China and Malaysia for two years
On August 1, 2018, India imposed safeguard duty on solar panels imported from China and Malaysia for 2 years.

Objective:
To protect domestic players from losing the market to them

Key Points:
i. This was recommended  by the Directorate General of Trade Remedies (DGTR), under the commerce ministry.
ii. As per the notice from Finance Ministry,

  • 25 per cent safeguard duty have been imposed for July 30 to July 29, 2019,
  • 20 per cent during July 30, 2019 to January 29, 2020 and
  • 15 per cent during January 30, 2020 to July 29, 2020.

iii. Solar tariffs are currently at around Rs 2.75 per unit, on par with that of thermal power, but safeguard duty is expected to raise it by at least 50 paise.

Comparison of the imports to India’s domestic production:
i.  India has produced 842 MW solar cells in 2017-18.
ii.And the imports of the solar cells has jumped to 9,790 MW in 201 7-18 from 1,275 MW in 2014-15.

Background:
i. Solar cells, electrical devices that convert sunlight directly into electricity, are imported primarily from China, Malaysia, Singapore and Taiwan.
ii. Imports of the cells from these countries account for more than 90 per cent of the total inbound shipments in the country.
iii. An application was filed before the DGTR by the Indian Solar Manufacturers Association (ISMA) on behalf of 5 Indian producers — Mundra Solar PV Ltd, Indosolar Ltd, Jupiter Solar Power, Websol Energy Systems, and Helios Photo Voltaic — seeking imposition of safeguard duty on the imports.
iv. The period of investigation was 2014-15 to 2017-18.

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