PIB Summary- 24th November, 2023 | Current Affairs & Hindu Analysis: Daily, Weekly & Monthly - UPSC PDF Download

Rapid Innovation and Startup Expansion

Context
Recently, AIM, NITI Aayog launched a new accelerator called Rapid Innovation and Startup Expansion (RISE) to support Australian and Indian circular economy startups.

Rapid Innovation and Startup Expansion (RISE) Accelerator

• Collaborators: Jointly delivered by CSIRO (Commonwealth Scientific and Industrial Research Organisation), Australia’s national science agency, and Atal Innovation Mission (AIM), the Government of India’s initiative for fostering innovation and entrepreneurship.

Focus Areas:

• Target Audience: Startups and Small to Mid-sized Enterprises (SMEs) in India and Australia.
• Key Themes: Circular economy technologies and solutions, specifically centered around:
  • Climate Smart Agriculture
  • Clean Energy
  • Circular Economy and Waste Management
  • Climate Smart Mobility

Program Duration:

• Accelerator Timeline: Nine months.

Program Benefits:

• Market Entry Support: Assisting startups in navigating the initial stages of operating in a new region.
• Network Development: Facilitating rapid connections to relevant partners, customers, and talent.
• Credibility Building: Supporting startups in establishing credibility for success in international markets.

First Round Focus:

• Theme: Technologies and solutions for waste and the circular economy.
• Potential Grants: Participating startups may qualify for non-equity grants of up to INR 40,00,000.

Upcoming Rounds:

• Future Focus Areas: Subsequent rounds will center on:
  • Climate-smart agriculture
  • Clean energy
  • Climate-smart mobility

Circular Economy: A Sustainable Model of Production and Consumption

• Extending Product Life Cycle: By promoting sharing, reusing, and recycling, the circular economy model extends the life cycle of products, reducing waste and minimizing environmental impact.
• Recycling for Resource Retention: When products reach the end of their life, materials are kept within the economy through recycling, ensuring that valuable resources are used productively again and again.

Benefits of the Circular Economy Model:

• Environmental Impact: Reusing and recycling products reduce the consumption of natural resources, decrease landscape and habitat disruption, and help limit biodiversity loss. The circular economy contributes to lower greenhouse gas emissions, contributing to climate change mitigation.
• Resource Security: Recycling raw materials mitigates risks associated with resource supply, such as price volatility, availability, and import dependency. This becomes especially crucial as the world’s population grows and demands for raw materials increase.
• Economic Growth and Competitiveness: Transitioning to a circular economy can stimulate innovation, increase competitiveness, and lead to economic growth. Redesigning materials and products for circular use fosters innovation across different sectors.
• Improved Quality of Life: Consumers benefit from durable and innovative products that save money in the long run. A circular economy offers more reliable and long-lasting products, enhancing the overall quality of life.

Exercise AUSTRAHIND-23

Context
The Indian Armed Forces contingent, comprising 81 personnel, departed for Australia to take part in the second edition of Joint Military Exercise AUSTRAHIND-23.

Exercise AUSTRAHIND-23: Enhancing India-Australia Military Collaboration

• Initiation: Instituted in 2022.
• First Edition: Held in Mahajan, Rajasthan.
• Annual Event: Planned as a recurring training exercise, alternating locations between India and Australia.

Objective:

• Purpose: Foster collaborative partnerships and share best practices between the Indian and Australian military forces.

Current Edition – AUSTRAHIND-23:

• Location: Perth, Australia.
• Duration: November 22nd to December 6th, 2023.
• Participants: Indian Army contingent, consisting of 60 personnel from a Gorkha Rifles battalion.

Operational Focus:

• Terrain Emphasis: Multi-domain operations in urban and semi-urban settings.
• UN Chapter VII: Adherence to peacekeeping operations protocols.

Key Highlights:

• Inter-Operability: Promoting joint operations and compatibility.
• Tactical Operations Rehearsal: Exchange of tactical ideas and joint practice of techniques and procedures.
• Strategic Understanding: Enhancing mutual understanding between the Indian and Australian militaries.
• Defence Cooperation: Reinforcing and strengthening defense cooperation between the two nations.

Long-Term Significance:

• Collaborative Learning: Facilitating the exchange of ideas for the effective execution of military operations.
• Strategic Partnership: Furthering the understanding and synergy between the armed forces of India and Australia.