Nov 16th 2015-Current Affairs

>>Shipwright School, a premier technical establishment of the Indian Navy, was commissioned as Indian Naval Ship Vishwakarma by Navy Chief Admiral RK Dhowan at a formal ceremony held at the Eastern Naval Command (ENC) in Visakhapatnam Saturday. The school is the alma mater for several naval architect officers, shipwright officers and sailors of the Indian Navy.

Admiral Dhowan expressed confidence that the commissioning of INS Vishwakarma would enhance the Navy’s in-house design and maintenance capabilities. This would go a long way transforming the Indian Navy to a designer’s and builder’s Navy in keeping with the ‘Make in India’ vision.

On the occasion, the Chief of Naval Staff highlighted Navy’s commitment and resolve towards Make in India. “The Indian Navy is equipped with technologically advanced warships, which have been designed in-house by the Navy’s own Warship Design Organisation and constructed by several Indian shipyards. Commissioning of INS Vishwakarma would enhance professionalism of young officers and sailors who would be trained here to become warship designers and hull maintenance technicians of the future.

>> Prime Minister Narendra Modi and Maharashtra CM Devendra Fadnavis on Saturday inaugurated B R Ambedkar memorial in London.

Maharashtra government has decided to transform the house where Ambedkar lived in London into an international memorial cum research centre.

The 2050 sq ft property on King Henry’s Road in London is a three storeyed structure where Ambedkar lived while pursuing his studies (DSC) in London School of Economics in year 1921-22. Ambedkar, a scholar also wrote papers on economics during this period.

>> The government nominated veteran actor Satish Shah and noted film critic Bhawana Somaaya as members of the Film and Television Institute of India (FTII) society in the category of eminent persons connected with films. Producer Brijendra Pal Singh was also appointed a member of the society in the category of alumni of FTII.

>> Annual Hundred Drums Wangala Festival has begun on a cultural fervor at Asanang near Tura town in Meghalaya.

Wangala is celebrated for two or three days or up to a week, gathering two or three villages, though recently it has been celebrated for one day in metropolitan areas. Rugala and Sasat Sowa are celebrated on the first day. These rituals are performed inside the house of theNokma (chief) of the village. Dama Gogata is celebrated on the last day.

Significance of Wangala Festival

• Wangala Festival is an annual post-harvest festival of the Garo tribes of North east India. Generally celebrated in the second week of November every year.
• It is a thanks giving ceremony to Misi Saljong, which is also known as Pattigipa Ra∙rongipa (The Great Giver) for blessing the people with rich harvest of the season.
• The first Hundred Drums Wangala Festival was organised on December 6 and 7, 1976 at Asanang, the Headquarters of Rongram Development Block, 18 km from Tura in India.

>> President Pranab Mukherjee today said India's efforts for inclusive economic growth and social advancement had shown the way forward to many developing countries.

Inaugurating the 35th India International Trade Fair (IITF) 2015 at Pragati Maidan here, he said this was a time of great opportunities in India.

He said IITF 2015 presented an ideal platform for the global fraternity which has a shared interest in trade relations to enhance peace and prosperity. 

He said several recent initiatives of the Government had already started showing results and had created a positive impact in key sectors. 

He said the IITF endeavoured to preserve, protect and promote India’s cultural heritage through collaboration amongst Government, industry, and artisans, craft persons and weavers. 

Mr. Mukherjee noted the India Trade Promotion Organisation (ITPO), the organisers of the fair, had taken several initiatives this year to improve facilities offered to visitors. He complimented ITPO and its supporting agencies for organizing the event with improved logistics and facilities.

He said he was particularly glad to find considerable participation of companies from the SAARC region. "Our South Asian neighbours are our highest priority in keeping with our ‘neighbourhood first’ policy.

>>The World Energy Outlook 2015 (WEO-2015) presents updated projections for the evolution of the global energy system to 2040, based on the latest data and market developments, as well as detailed insights on the prospects for fossil fuels, renewables, the power sector and energy efficiency and analysis on trends in CO₂ emissions and fossil-fuel and renewable energy subsidies.

In addition, the WEO-2015 is informed by in-depth analysis on several topical issues:

— A lower oil price future? The decline in oil prices and changed market conditions have prompted a broad debate over how and when the oil market will re-balance. This analysis examines the implications for markets, policies, investment, the fuel mix and emissions if oil prices stay lower for longer.

— India’s energy outlook: How India’s energy sector develops over the coming decades will have profound implications both for the country’s own prospects and for the global energy system as a whole. With new impetus behind efforts to upgrade the country’s energy supply, this comprehensive, in-depth analysis assesses the multiple challenges and opportunities facing India as it develops the resources and infrastructure to meet rapidly rising energy demand.

— Renewables and energy efficiency: In the run-up to COP21, the Outlook provided a report on the competitive position of fast-growing renewable energy technologies in different markets, how this evolves and what implications this might have for policy; the analysis also tracks for the first time the coverage of energy use by efficiency policies around the world and the ways in which product design, recycling and reuse ("material efficiency") can contribute to energy savings.

— Unconventional gas: In addition to an update on the opportunities and challenges that face the development of unconventional gas globally, the analysis focuses on the prospects for unconventional gas in China and how this might affect China’s energy outlook as well as regional and global balances.

Big questions abound in global energy in 2015 

— Could oil prices stay lower for longer? What would it take for this to happen and what it would mean for energy security and for the energy transition?  

— India is set for a period of rapid, sustained growth in energy demand: how could this re-shape the energy scene?

— What do new climate pledges mean for the way that the world meets its rising needs for energy?

— What are the implications of the rising coverage of energy efficiencypolicies and the growing competitiveness of renewables?

— Is the unconventional gas revolution going to go global, or to remain a North American phenomenon?

These issues – and many more – are discussed here, with a special focus on India accompanying the customary, in-depth WEO analysis of the prospects for all fossil fuels, renewables, the power sector and energy efficiency around the world to 2040.

>>India and the UK today announced deals worth 9-billion pounds as they signed a civil nuclear pact and decided to collaborate in the field of defence and cyber security besides launching a railway rupee bond.

British Prime Minister David Cameron described the relations between the two sides as a "new dynamic modern partnership" and reiterated his country's support for India's permanent membership of the UN Security Council.

"During this visit British and Indian companies are announcing new collaborations together worth 9 billion pounds," he said at a joint press conference with Prime Minister Narendra Modi.

"We want to become the number one partners to finance the immense economic vision Prime Minister Modi and make London the centre for off-shore rupee trading with the launch of 1-billion worth of bonds including the first government- backed rupee denominated bond," Mr Cameron added.

The UK accounted for 8.56 per cent of total foreign direct investment in India during the last 15 years. Indian companies employ 110,000 people in the UK.

“The conclusion of the civil nuclear agreement is a symbol of our mutual trust and our resolve to combat climate change. The agreement for cooperation in India’s Global Centre for Clean Energy Partnerships will strengthen safety and security in the global nuclear industry.

UK will also be a strong partner in India’s defence modernisation plans, including our Make in India mission in defence sector”. The UK, he said, will participate in the International Fleet Review in India in February 2016.

Agreeing to intensify their political dialogue and hold regular bilateral summits, the two sides decided to support development in other regions of the world. Cameron expressed strong British support for India’s permanent membership of the reformed UN Security Council and membership in the international export control regimes.