Current Affairs 17-FEB-2024 (The Hindu)

Chabahar and Sittwe Ports

D => (Pg-1)

Chabahar and Sittwe Ports

Chabahar Port

• Location: Situated on the Gulf of Oman in Iran, approximately 72 km from Pakistan's Gwadar port.
• Features: It is Iran's only oceanic port and consists of two separate ports named Shahid Beheshti and Shahid Kalantari.
• Purpose: It serves as a counter to Pakistan's Gwadar Port.

Sittwe Port

• Location: Located in Myanmar's Rakhine state.
• Project: A joint project between India and Myanmar, it is part of the Kaladan Multimodal Project aimed at enhancing trade and connectivity.
• Impact: It provides a boost to Northeast India and supports the Act East Policy.
• Connectivity: Sittwe Port serves as an alternative connectivity route, offering a more efficient trade route compared to the traditional Siliguri Corridor.

Practice Question – Prelims

Consider the following statements:

1. Chabahar port is the only riverine port in Iran.

2. It is located at the mouth of the Persian Gulf.

Which of the above statements is/are incorrect?

a) 1 only

b) 2 only

c) Both 1 and 2

d) Neither 1 nor 2

Investing in Pharmaceutical Industry

D => (Pg-8)

Practice Question – Mains GS - III

Evaluate the significance of investing in fundamental research for the development of the local pharmaceutical industry in India, considering the challenges posed by international intellectual property rights and data exclusivity agreements? (250 words, 15 marks)

Investing in Fundamental Research for Pharmaceutical Industry

Introduction

• India is the largest provider of generic medicines globally, with a 20% share in global supply.
• There are 60,000 generic brands across 60 therapeutic categories in India.
• India produces 60% of the world’s vaccines.
• To sustain and enhance this growth, investing in fundamental research is crucial.

Significances

• Knowledge Creation and Innovation.
• Global Recognition and Market Expansion.
• Addressing Public Health Challenges.
• Navigating Data Exclusivity Agreements.
• Helping to reduce disease burden.

Challenges

• Limited access to patented medicines.
• Delay in Introducing Generic Drugs.
• Barrier to Research and Development.
• Dependency on Foreign Technologies.
• Data Exclusivity affecting competitiveness.
• Threat to Public Health Initiatives.

Conclusion

• Engaging in diplomatic efforts to advocate for fair and equitable IPR.
• Strengthening domestic research institutions and fostering collaboration between academia, industry, and government.
• Encouraging partnerships between the government, private sector, and research institutions.

Enforcement Directorate

C => (Pg-1)

Enforcement Directorate

Background of ED

• 1956: Origin of 'Enforcement Unit' under the Department of Economic Affairs.
• Initially handled violations under the Foreign Exchange Regulation Act, 1947.
• 1957: Renamed 'Enforcement Directorate' with a branch in Madras.
• Since 1960, under the Department of Revenue of Finance ministry.

Provisions of ED

• Non-constitutional, statutory organization.
• Derives powers from acts like:
• Prevention of Money Laundering Act (PMLA)
• Foreign Exchange Management Act (FEMA)
• Fugitive Economic Offenders Act
• Foreign Exchange Regulation Act, etc.

Important Functions

• Investigates money laundering and foreign exchange law matters.
• PMLA grants power to trace assets, provisionally attach property, prosecute offenders, and confiscate property.
• FEMA investigations into violations of foreign exchange laws.
• Fugitive Economic Offenders Act allows attachment of properties of fugitive offenders, leading to confiscation.
• Adjudication of Show Cause Notices under Foreign Exchange Regulation Act.
• COFEPOSA empowers ED to sponsor preventive detention cases for FEMA violations.
• Imposes penalties in relevant cases.
• Collaborates internationally to combat black money circulation and round-tripping.

Practice Question – Prelims

Consider the following statements about the Enforcement Directorate (ED):

1. It works under the Department of Economic Affairs, Ministry of Finance.

2. It is a constitutional body.

3. It cannot arrest a person without a summons.

How many of the statements given above are correct:

(a) Only one

(b) Only two

(c) All three

(d) None