📰 S-400 is symbol of Indian sovereignty, hope to complete naval, logistics agreements next year: Russian diplomat
Apart from bilateral ties, Mr. Babushkin said that India-Russia cooperation on multilateral issues had grown
•The S-400 missile system deal is a symbol of the strength of India’s “sovereignty” said a Russian official, denying that the deal or other major agreements due to be signed during the visit of Russian President Vladimir Putin last Monday had been put on the backburner due to concerns over U.S. sanctions.
•During the one-day summit, which included a meeting between Mr. Putin and PM Narendra Modi and ministerial meetings, the two sides announced 28 agreements and issued a 99-point joint statement. However, key agreements that had been outlooked for signing during the meetings, including the Reciprocal Exchange of Logistics Agreement (RELOS) and a Navy to Navy cooperation MoU by diplomats ahead of Mr. Putin’s visit, which led to speculation that New Delhi had chosen to hold off on these as well as other expected deals for fighter jets and short range missiles until there is more clarity on whether the U.S. will impose sanctions over the delivery of the S-400 Triumf missile systems.
•“The Summit came at very short notice, and that is one of the main reasons some particular agreements were not completed” said Roman Babushkin Deputy Russian Ambassador to India, denying there was any delay in negotiations. “All these deals including the naval cooperation MoU, RELOS will be completed at the earliest convenience when the two sides will be meeting for some occasions during the course of the next year,” he added, during an interview to The Hindu.
•Apart from bilateral ties, Mr. Babushkin said that India-Russia cooperation on multilateral issues had grown, especially with India supporting Russia’s bid to become an observer state at the Non-Aligned Meet (NAM) this year, and Russian support to India at the SCO. Moscow is now speaking to the Modi government about holding a “to donor conference” amongst other initiatives that are part of a new roadmap for interaction on Afghanistan finalised during the Putin visit, and has also pitched for India and Iran to be included in the “Troika plus” mechanism of Russia-US-China and Pakistan which New Delhi has long felt cut out of.
•As The Hindu had reported, the Modi government has not yet decided on whether to send any Indian officials to Kabul, but was considering its options given that about 10 countries including Russia have missions open there.
•“Our presence in Kabul is very important for safety of Russians there…We know that more countries are quite keen to come back including the European Union, Germany, Indonesia, and other, according to media reports. So in case the Indian side would be interested in a serious discussion about the Indian presence in Afghanistan, the Russian side would be very open for any dialogue on supporting India,” Mr. Babushkin said in the interview, where he described the outcomes of the 21st India-Russia summit held last week.
•On India-Russia nuclear cooperation, he said that the Kudankulam nuclear power project involving six reactors is either operational, under construction, or about to be started, and the government is awaiting New Delhi’s response on the second site for a project for six VVER-1200 reactors.
•The US administration has not yet made it clear how it hopes to proceed on the Indian S-400 deal, and whether US President Biden will use his power to waive the sanctions for India in particular, as many American Congressman have advocated. However, the US State department spokesperson has said that there will be no “blanket” waiver for India, indicating that even if the S-400 deal is not sanctioned, other “significant” military and nuclear transactions could still trigger sanctions under CAATSA.
•“The S-400 decision is a very strong example of how advanced our defence and strategic partnership is, and how strong Indian sovereignty is, to choose its international partners, especially when it comes to issues of national interest and national security,” the Russian diplomat said, calling the US CAATSA sanctions law an “illegal tool for unlawful competition” and added that the S-400 project does not target the US in any way. Confirming that the delivery of the first of five S-400 systems from Russia is expected to be completed this month, he said that India and Russia were discussing how to use the alternate Rupee-Rouble system for payments that would not be impinged by any sanctions. In 2018 the US sanctioned China, and in 2020 sanctioned Turkey for buying the S-400, and placed defence entities and officials under financial and visa bans.
📰 RBI Governor, PM signal reforms in trouble-prone urban co-operative banks
Governor warns depositors against chasing higher returns
•Reserve Bank of India (RBI) Governor Shaktikanta Das on Sunday indicated that the banking regulator will ring in sweeping regulatory changes to reform urban co-operative banks that have been plagued by a spate of failures, and warned people against parking their savings in banks offering high returns.
•While terming the government’s decision to raise the insured limit for bank deposits to ₹5 lakh from ₹1 lakh with a 90-day time limit to pay out such deposits as ‘landmark’ developments, Mr. Das stressed that the payment of Deposit Insurance should be seen as a ‘measure of last resort’.
•“I would like to mention in all this is that the depositors themselves must also be very discerning. It is very important to keep in mind that higher returns are usually associated with higher risks. Just because a bank is offering higher interest, the depositors should be very careful in putting their money in chasing such high returns,” the RBI Governor noted.
•“I am not generalising. There are institutions that are offering higher interest rates which are viable, but depositors should always be very careful,” he reiterated at an event to mark the payment of nearly ₹1,300 crore to over 1 lakh depositors whose funds were stuck in distressed banks for years.
•Prime Minister Narendra Modi, who personally handed over deposit insurance cheques to a few bank customers whose savings with distressed banks had been out of reach for years, said that an additional three lakh depositors would get their hard-earned savings, stuck in other banks, soon.
•“When the RBI will oversee co-operative banks' functioning, this will also raise depositors' confidence further. We have created a new Co-operatives Ministry (referring to the Co-operation Ministry). The idea is to strengthen the co-operative system and will empower co-operative banks further,” Mr Modi said, noting that these problems afflicted co-operative banks more.
•Mr. Das said the central bank keeps depositors’ interests on top while dealing with policy challenges and will continue to ensure that the entire banking system remains robust.
•“Just to give an example, we have come out with new governance guidelines for commercial banks and we have constituted a committee for bringing about reforms in the urban co-operative sector. That report has been received and we will be taking action based on it,” he said,
•Recalling his time as Chief Minister of Gujarat, Mr. Modi said he had urged the Central government at the time to raise the deposit insurance for bank account holders from ₹1 lakh to ₹5 lakh, but his call for protecting poor and middle-class depositors' funds in failed banks went unheeded.
•Mr. Modi had assumed office as Gujarat CM in October 2001, months after the Madhavpura Mercantile Co-operative Bank got into trouble, leaving its depositors stranded.
•“I remember clearly when I was CM and a bank faced problems, people used to catch our necks only. The decision either had to be taken by the Government of India or the banks, but the Chief Ministers used to face the heat,” he said.
•“Their pain was natural and at that time, I had repeatedly requested the Government of India to raise the ₹1 lakh deposit insurance amount to ₹5 lakh so that maximum households are satisfied. But my suggestion went unheeded. They didn't do it. So then, the people did what they had to and sent me here,” he said, ascribing his electoral victory in the Lok Sabha to the angst of the poor, lower middle-class and middle-class sections of society who ‘suffered from and tolerated’ this for decades.
•“When banks sank due to some people’s wrong policies, they not only lost their savings, but in a way their whole life would feel stuck and seemed like darkness to them. People ended up taking years to get their own money out and the problems were even more in co-operative banks,” the Prime Minister said.
•Union Finance Minister Nirmala Sitharaman, who spoke after the RBI Governor and before the Prime Minister, also sought to stress that the approach of the government has been sensitive to the needs of the middle class.
•While laws are generally applied prospectively from the date they are passed by Parliament and notified, Ms. Sitharaman said the government made an exception while amending the relevant Deposit Insurance laws.
•“Here, we saw that some of the banks were waiting for resolution for years and depositors in those banks were also not getting relief. So exceptionally, this time, we have made it applicable retrospectively, so that people who were waiting for five-six years also get some relief. So the customer was kept in mind, the middle class' hard-earned money has been kept in mind,” she said.
📰 News Analysis | Sedition: CJI’s observations in July show SC has taken judicial notice of misuse
A 2015 judgment had called for striking down of vague laws which choke free speech and shackle personal liberty
•Law Minister Kiren Rijiju’s reply in Parliament that there is no proposal to scrap sedition from the penal code comes almost five months after Chief Justice of India N.V. Ramana made scathing remarks in open court to the Government about the chilling effect of the “colonial law” which suppresses the freedoms of ordinary people.
•In a hearing on July 15, the CJI compared the use of sedition (Section 124A of the IPC) to a tool given to a carpenter “to cut a piece of wood and he uses it to cut the entire forest itself”.
•The CJI had wondered why a democracy needed a law which was used by the British to imprison Mahatma Gandhi and Bal Gangadhar Tilak.
No proposal to scrap Section 124A
•“The Ministry of Home Affairs has informed that there is no proposal under consideration to scrap Section 124A of the Indian Penal Code, 1860. Further, the question of law regarding Section 124A is pending for adjudication before the Hon’ble Supreme Court of India,” Mr. Rijiju said in a written reply in the Lok Sabha.
•Mr. Rijiju said observations that sedition was a “colonial law” misused by the Government were not part of any judgment or order of the court.
•However, the Government, on July 15, through its topmost law officer, Attorney General K.K. Venugopal, had responded to the CJI’s oral observations in court, saying there was no need to strike down Section 124A. “It is enough to see if there were any excesses in its use and limit the Section to its real purpose… That would be enough,” Mr. Venugopal had responded.
•The CJI’s observations in court make it apparent that the highest court has taken judicial notice of the misuse of the sedition provision by the State. The observations were made by the CJI during the proceedings of the court. Oral observations made during a court hearing, though not part of a formal order or judgment, reflect the constitutional court’s line of thinking. It shows application of the judicial mind, and in this case, of the topmost judge of the country. Besides, the 2015 judgment of the Supreme Court in the Shreya Singhal case had called for the striking down of vague laws which choke free speech and shackle personal liberty.
•Former Union Minister P. Chidambaram, in his tweets, has pointed out that the court’s comments were reported in the media. Mr. Rijiju had retorted that media reports do not form part of official records.
•However, the court has already sought a formal response from the Government by issuing notice on a petition filed by retired General S.G. Vombatkere to quash Section 124A. It has also issued notice to the Government on a writ petition filed jointly by the Editors Guild of India and cartoonist Aseem Trivedi.
•Two other petitions filed by Kishore Chandra Wangkemcha and M/s Aamoda Broadcasting Company Private Limited, the latter against the Andhra Pradesh Government, are pending before the apex court. Both cases concern sedition charges.
•A Bench led by Justice U.U. Lalit had issued notice in the Wangkemcha case. The Aamoda petition is before a Bench led by Justice D.Y. Chandrachud. A petition by senior journalist Arun Shourie and NGO Common Cause, both represented by advocate Prashant Bhushan, has argued that Section 124A does not even possess a “presumption of constitutionality”.
•The CJI’s Bench said all these petitions posed “similar questions of law”. The very fact that the court wants an answer from the Government shows that it senses a problem worthy of judicial intervention. The CJI’s oral remarks in July have also opened the floor for debate and introspection on the court’s own judgment in 1962, in the Kedar Nath case, which upheld Section 124A.
Stale laws
•The CJI had asked the Government why it did not throw out sedition law along with the hundreds of “stale laws” it had expunged from the statute books.
•“If you look at the history of use of this Section 124A of IPC, you will find that the conviction rate is very low. There is misuse of power by executive agencies… Your Government is taking out a lot of stale laws from the law books, why have they not looked into this?” the Chief Justice had asked.
•The Law Minister’s response that there is “no proposal” to scrap the sedition law follows the CJI’s remarks about its “sweeping powers”, admission of multiple writ petitions challenging it and the rising public denouncement of Central and State law enforcement agencies using the law to silence dissent, muffle free expression and for denying bail to incarcerated activists, journalists, students and civil society members.
•“People are scared. Our concern is misuse of the law and the lack of accountability. Why has it continued in the statute book even after 75 years of our Independence?” Chief Justice Ramana had asked the Government in July.
📰 The dream of being a chip hub
Many factors need to come together for India to make a mark in the niche chip industry
•India is aiming to manufacture silicon semiconductor chips. It has intensified efforts to set up a semiconductor fabrication plant with the help of Taiwan, the market leader, for which the government is investing over $7.5 billion. The Tata Group is in talks with three States — Tamil Nadu, Telangana and Karnataka — to invest over $300 million to set up a semiconductor manufacturing facility.
•Meanwhile, there are several techies working in silicon fab and chip-making companies across the globe, notably IIT alumni from Andhra Pradesh, who want to revive the five-year old initiative of bringing the industry to A.P., according to a Mumbai-based venture capitalist. With the Centre moving fast in the direction, the Telugu NRIs see an opportunity in becoming a part of the initiative. At a recent meeting in Visakhapatnam, a Telugu NRI association mentioned that the chip-making industry will be the new focus in development.
•The idea of setting up a fab and related industries in A.P. dates back to 2014, when NASSCOM wanted to promote a National Technology Corridor along coastal A.P. stretching through the Visakhapatnam, Rajahmundry and Vijayawada region. Given the abundance of water, sand (raw material for making silicon ingots), road, rail, ports and airport connectivity, the industry body wanted to push and promote the design and manufacturing of electronic chips. Besides, several techies from the region, who are working in chip making industries across the world, want to be part of the fab and chip ecosystem, according to NASSCOM. A team led by the then NASSCOM vice-president, Rajiv Vaishnav, went on an intensive tour meeting stakeholders and exploring possibilities to push the idea and promote niche design and electronic chip manufacturing.
•While welcoming such moves by the government and technology experts, local players in the segment say that chip making itself will not be enough. Other aspects such as designing and Intellectual Property are required to make a mark.
•An alumnus of IIT-Madras and the CEO of the Andhra Pradesh-based Efftronics, D. Ramakrishna, says, “There are several IIT alumnus virtual groups collaborating to make chip-making a reality in India but it’s a long road ahead. Designing is what brings value to the chips. If the Intellectual Property lies with the foreign entity, we end up manufacturing the basic material which does not serve the purpose. Rather, we need an ecosystem to promote SoCs (System on a Chip) which makes more sense.” There are several firms in India which are now making SoCs, which is a good sign.
•The bigger challenge and immediate need for the Indian government is to connect related industries in India to create the ecosystem, industry players say. National capability needs to be enhanced, according to B. Gopi, CTO of the Visakhapatnam-based embedded systems design firm, Sankhya Technologies. “Ours is one among several firms connected to the fab and semiconductor industry. The government should help promote the supply and value chains. Nothing is impossible if things are moved in the right direction. It’s the industry of a high value addition,” he says.
•The initiative is an uphill task as many factors need to come together for India to make a mark in the niche chip making and designing industry. Also, upcoming firms should be able to sustain themselves in the market when subsidies from the government are withdrawn. The ground is ready. It’s a matter of time before these firms become part of the global ecosystem.
📰 The evolution and framing of the Constitution
It does not impose, with reason, the same burden of accountability on the Judiciary as the Executive and the Legislature
•Constitution Day was celebrated on November 26 this year too with the Government of India organising a grand event in the Central Hall of Parliament to remind citizens that the Indian Constitution was adopted by the Constituent Assembly this day, 72 years ago. As usual, speeches were made about the greatness of the Constitution. But politics was not kept out entirely. In fact, there is always an unexciting predictability about these speeches. That is largely attributable to the sequacity of the political class.
•It is not certain whether the various speeches made on this occasion every year have enlightened the younger generation of India about the historical background of the Constitution. It is a fair guess that the new generation in this country knows pretty little about the freedom struggle led by Gandhi and the Congress.
A refresher
•For the information of this generation, let me state a few facts. The framing of the Constitution is not an isolated and accidental event in the sense that one fine morning, a few barristers and jurists got together and decided that India needed a Constitution and began writing it. It is the culmination of long years of the struggle for freedom which consumed a countless number of precious lives of ordinary Indians. The Indian National Congress, under the leadership of Pandit Jawaharlal Nehru, had demanded, in 1935, a Constituent Assembly to frame a Constitution for free India, and Nehru wanted the election to be held to the Assembly on the basis of adult franchise. As it happened, the Constituent Assembly came to be constituted 11 years later, in 1946, but the election was held on the basis of communal representation.
•After almost three years of hard work, the Constitution was completed in November 1949 and was adopted by the Constituent Assembly on November 26. Although the Constitution was adopted and signed by the President of the Constituent Assembly, Dr. Rajendra Prasad, on that day, it was brought into effect only on January 26, 1950. This date was chosen because it was on this day in 1930 that the Indian National Congress under the presidentship of Nehru declared ‘Poorna Swaraj’ (complete independence) for India. Thus, the history of the Constitution is bound up with the history of the Congress and the freedom movement.
Nehru’s contribution
•Any celebration of Constitution Day will remain incomplete if Nehru’s contribution to the making of the Constitution is not remembered. It was his Objectives Resolution which formed the Preamble of the Constitution. It contained the philosophy, the vision and the goal of the Constitution. The ideas thrown up by the European Renaissance, the America Independence and the French Revolution tremendously influenced him. The ideas of liberty, equality and fraternity and freedom of speech, freedom of conscience, justice-social economic and political permeated the Indian Constitution under the influence of Nehru.
•It is an interesting thought that India’s mainstream society which is structurally incapable of internalising the ideas of equality and social justice, had to suffer terrible inconvenience from the imperatives of equality and social justice. The Constitution ushered in an era of equality, signifying a complete break with an unsavoury past.
Choice of Ambedkar
•Dr. B.R. Ambedkar, of course, is rightly remembered in the context of the Constitution and more frequently in political contexts. However, it is difficult to remember a single memorable speech by any politician about the contribution of Dr. Ambedkar to the building and concretising of the concept of social equality in the Constitution. Dr. Ambedkar became the Chairman of the drafting Committee perhaps incidentally.
•He admits in one of his famous speeches in the Constituent Assembly that he had come there to plead for the depressed classes, but the Assembly made him the Chairman. Dr. Ambedkar was an original thinker and a very perceptive social scientist who had a keen understanding of the terrible structural inadequacies of Hindu society and its philosophical pretentions.
•He radically deferred with Gandhi on many crucial issues and had serious differences with the Congress. He ridiculed civil disobedience, non-cooperation and Satyagraha and said “these methods are nothing but the grammar of anarchy and the sooner they are abandoned, the better for us”. But the Constituent Assembly, which had an overwhelming majority of Congressmen, chose him as the Chairman of the drafting Committee. The great men who led the freedom movement and guided the making of the Constitution, had displayed tremendous foresight in choosing Dr. Ambedkar to draft the Constitution.
On accountability
•Speeches made on Constitution Day expectedly contained references to the Judiciary. Many such references are undoubtedly about the Supreme Court. Of course, Constitution Day cannot pass without making pontifical observations about the role and the responsibility of the Judiciary, particularly the top court. Judicial accountability is an issue which the political class seems to be obsessed with.
•The Preamble of the Constitution begins with “We, the People of India”. The people are the sovereign, and every organ of the state is ultimately accountable to them. But, accountability is a nuanced term which is understood or interpreted differently in different contexts. In a parliamentary system with the Cabinet form of government, the Executive is accountable to the Legislature, because the Legislature consists of representatives of the people. Therefore, if the Legislature withdraws support to the government, it does not survive.
•Similarly, the legislators are accountable to the people who elect them. They have to go back to them every five years. But, how is judicial accountability dealt with by the Constitution? Recently, this interesting issue was raised by the present Chief Justice of India, N.V. Ramana, in one of his thought-provoking speeches, on November 26, in the context of the Constitution Day celebrations. He said, “The framers of the Constitution made accountability an integral element with respect to the Legislature and Executive. However, they consciously decided to keep the Judiciary on [a] different pedestal.” This is a lucid exposition of the constitutional position of the Judiciary vis-à-vis other organs of the state with respect to accountability
A different pedestal
•Serious students of the Constitution can readily agree with the learned Chief Justice of India because the Constitution does not impose the same burden of accountability on the Judiciary as the Executive and the Legislature. The mandate given to the Judiciary is to do justice to the people, and, therefore, the Constitution made it an independent institution answerable neither to the Executive nor to the Legislature in respect of its functions. Article 142 brings in the concept of complete justice.
•The top court, where all litigations terminate, is mandated to do complete justice. In order to be able to do that, the Judiciary has been placed on a different pedestal. One can unhesitatingly agree with the Chief Justice of India when he says “they (constitution makers) trusted the competence of the men and women who would adorn the Bench in upholding the Constitution”. Who can deny that the doctrine of ‘basic structure’ propounded by the Supreme Court in the Kesavananda Bharati case has in a way saved the Constitution from being mutilated by politicians who believe in neither democracy nor in justice? An independent judiciary which does not have to look over its shoulder is the pride of the Indian Republic. Accountability of the Judiciary in the political sense is a disaster. “We, the People of India” made it independent so that it does complete justice to us. The Chief Justice of India knew what he was saying.
📰 The stepping stones in the post-pandemic world
In building global economic partnerships, which is critical, there is a window for India to take on a crucial role
•The COVID-19 pandemic has profoundly impacted lives and livelihoods across the world; an economic catastrophe that affected growth, trade and investments, and employment, among others. Governments, global institutions, industry, academia and non-profit organisations around the world have joined hands to tackle the global challenge and help countries rebuild their economies.
•The novel coronavirus pandemic has once again highlighted the criticality of international cooperation in combating current and future challenges. Key among these include economic growth, building competitiveness of the investment climate, ensuring sustainable development paths and adapting to technology acceleration. Trade and investment flows have proved to be an engine of growth for many countries, in spite of temporary supply chain glitches.
Changing world
•In organising the partnership summit, a global conference, we at the Confederation of Indian Industry (CII), found a world changing at multiple levels that combines to offer a window to India to play a more significant role in the global commons. India’s recent reforms, role in combating the pandemic, and startup vibrancy, among other factors, have attracted global attention and can help it attain a faster growth path, provided its integration with the world economy and trade gains strategic intensity.
•As the world adapts to a new normal post-COVID-19, building resilience to cope with the threats posed by pandemics and other man-made and natural disasters has necessitated strengthening global partnerships now more than ever. The power of collectively working together cannot be underlined more in this context. Global partnerships help in building mutual trust and understanding by agreeing upon common rules and standards and sharing of best practices.
Areas to look into
•The current situation has brought to the forefront the importance of building partnerships in several thrust areas. To begin with, while the world economy is rebounding strongly, the long-term sustainability of the growth process needs to be strengthened. Exit from the massive stimulus packages itself may pose risks of economic and financial instability. Further, the issue of growing inequality of incomes among countries as well as within countries must be addressed. Mechanisms for reviving growth in certain parts of the world should be coordinated effectively so as not to disrupt it in other parts of the world.
•Second, the pandemic severely disrupted global supply chains and set the global trade trajectory on a downward path. Even as the world emerges from the pandemic, facilitating medical supplies and essentials will continue to remain a top priority and for this, supply chains will need to be kept flowing.
Data on world trade
•For this year, the United Nations Conference on Trade and Development (UNCTAD) indicates an increase of 22.4% in the value of global merchandise trade compared with 2020, which attests to the efficacy of fiscal and monetary measures. World trade is expected to stand about 15% higher than before the COVID-19. The global foreign direct investment (FDI) flows in the first half of 2021 reached an estimated $852 billion, showing stronger than expected rebound momentum. FDI flows in developing economies also increased significantly, totalling $427 billion in the first half of 2021.
•As the free flow of goods, services and capital will continue to play a dominant role in the global economic recovery process, collaborative efforts from countries across the world would be required in facilitating trade partnerships at both regional and multilateral levels to better protect consumers and producers. Cooperation on trade facilitation for enhancing open and transparent markets, technical assistance and reduction of complex process and arrangements must be promoted.
•Third, competitiveness will be key in facilitating growth and inclusive development. New opportunities and avenues across potential high growth sectors such as manufacturing and start-ups must be leveraged. An ecosystem of entrepreneurship and innovation with targeted policies and interventions will contribute to enhancing productivity and generating employment.
Fill the technology gaps
•Four, certain structural changes are likely to become permanent in the future and this is especially true of the digital economy which completely transformed the future of work and the business landscape. The rise of telemedicine, remote work and e-learning, delivery services, etc. necessitates equitable adaptation to advanced technologies and tools, building robust infrastructure, and occupational transitions. Skill development and worker training, investments in education and vocational training, and capacity building would be some key areas of focus for filling technology gaps and nurturing new and existing talent.
•At the same time, investments in innovation will be crucial, especially during a crisis. The convergence of the global scientific community for vaccine development and genome sequencing has set a new precedent in international cooperation. Global collaboration in areas including research and development and Industry 5.0 and investments in digital and corporate strategy can similarly become key drivers of industrial development.
•Five, climate change has now acquired urgency from policymakers around the world, as seen in the recent COP26 at Glasgow. International alliances and cooperation on building sustainable solutions, green technology, resource efficiency, sustainable finance, etc., must be promoted to fast-track meeting the sustainable development goals and for ensuring all-round development.
There is a place for India
•With these multiple strategic shifts, India’s role as a reliable and trusted player in the comity of nations stands enhanced. Besides protecting its own citizens, India provided medical supplies and equipment to more than 150 countries in the world. It also played a leadership role in the supply of COVID-19 vaccines, besides undertaking a massive vaccination programme for its own citizens. It is undertaking serious action in meeting its other global commitments including climate change where its targets will make a difference.
•In the post-pandemic world, it will be critical for India to improve on its investment climate and systematically target its export capabilities across sectors and regions. Ease of doing business and new free trade agreement with major markets will help it integrate closely with the world through trade and investment partnerships. The time for India is here and it must leverage international partnerships for ensuring a robust and sustained economic growth path.
