Lok Sabha Passes Coastal Shipping Bill, 2024

The Lok Sabha has passed the Coastal Shipping Bill, 2024, which aims to regulate vessels engaged in trade within Indian coastal waters. This includes territorial waters and adjoining maritime zones, extending up to 12 and 200 nautical miles, respectively. The Bill is designed to promote coasting trade and encourage domestic participation by consolidating and amending existing laws related to coastal shipping.

Key highlights of the Bill include:

• Repeal of Merchant Shipping Act: It seeks to repeal Part XIV of the Merchant Shipping Act, 1958, which previously regulated ships in coastal trade.
• Vessel Types Covered: The Bill regulates all vessels, including ships, boats, sailing vessels, and mobile offshore drilling units.
• Expansion of Coasting Trade Definition: Coasting trade now includes services like exploration, research, and other commercial activities, excluding fishing.
• Licence Requirements: Vessels wholly owned by Indian citizens do not need a licence for coasting trade, while those not wholly owned by Indian citizens require a licence.
• Increased Penalties: The Bill raises the maximum fine for unlicensed coasting trade to Rs 15 lakh or four times the gains from the unlicensed voyage, replacing imprisonment penalties with civil penalties.
• National Strategy Plan: The central government must prepare a National Coastal and Inland Shipping Strategic Plan within two years of the Act’s commencement.
• National Database: It introduces a National Database for Coastal Shipping to enhance transparency and coordination.
• Exemption Powers: The central government has the power to exempt certain classes of vessels from the Bill’s provisions.

India’s shipping sector has seen significant growth, with coastal cargo traffic surging by 119% from 2014 to 2024. The Ministry of Ports, Shipping, and Waterways has increased cargo handling capacity by 103% in the last decade. India aims to establish a new shipping company to expand its fleet by at least 1,000 ships within a decade.

USA’s ‘Reciprocal Tariffs’ on India & World

In a move to address trade imbalances, the US has introduced ‘reciprocal tariffs’ on imports from various countries, including India. This measure aims to create a level playing field by mirroring the duties imposed on US exports. The tariffs range from 10% to 50%, with India facing a 26% discounted reciprocal tariff.

Key highlights of the reciprocal tariffs include:

• Baseline Tariff: A universal 10% tariff was imposed on all imports, with higher rates applied to countries with significant trade surpluses with the USA.
• Country-Specific Tariffs: India’s tariff is lower than other Asian countries like Vietnam (46%), Thailand (37%), and Bangladesh (37%).
• Impact on India: The tariffs affect key sectors such as automobiles, textiles, and fisheries, posing challenges for Indian exporters.
• Economic Adjustments: India may consider reducing tariffs on US imports to mitigate the impact.
• Strategic Partnerships: Despite the tariffs, India emphasizes strengthening bilateral trade relations with the U.S.

The total goods trade between the U.S. and India was estimated at $129.2 billion in 2024, with a trade deficit of $45.7 billion. India’s top exports to the USA include precious stones and metals, pharmaceutical products, apparel and textiles, engineering goods, organic chemicals, and IT services.

Forest Rights Act (FRA)

The Forest Rights Act (FRA), enacted in 2006, aims to recognize historical injustices against forest-dwelling communities by granting them legal rights over forest land and resources. However, concerns have been raised about the government’s handling of rejected claims under the FRA ahead of a crucial Supreme Court hearing.

Key aspects of the FRA include:

• Recognition of Rights: It recognizes the rights of Scheduled Tribes (STs) and Other Traditional Forest Dwellers (OTFDs) to access forest land and resources.
• Empowerment of Gram Sabhas: Gram Sabhas are empowered to verify and approve claims at the grassroots level.
• Provisions for Rehabilitation: The FRA ensures that tribal populations and forest dwellers are not evicted without proper rehabilitation.
• Issues and Concerns: Non-implementation of FRA provisions, lack of legal protection over land rights, and forced evictions remain significant challenges.

Undersea Cables

India has seen a significant boost in its digital backbone with the landing of new undersea cable systems, enhancing its international bandwidth capacity and global internet connectivity. Two major systems, 2Africa Pearls and SEA-ME-WE-6, have landed in India in 2024.

Key points about undersea cables include:

• SEA-ME-WE 6: This is a 21,700 km submarine cable system connecting Singapore and France, with a consortium including telecommunications companies from multiple countries.
• Importance of Undersea Cables: About 90% of global data, 80% of world trade, and key financial and government transactions rely on undersea cables.
• India’s Cable Infrastructure: India has two main cable hubs, Mumbai and Chennai, with 17 cable systems landing there.

Tipitaka

Tipitaka, the sacred Buddhist scriptures, hold significant cultural and religious importance. They are a collection of teachings attributed to the Buddha and are revered in Buddhist communities worldwide.

Bharani Festival

The Bharani Festival is celebrated in Kerala, India, and is associated with the Bharani Nakshatra. It is a significant cultural event, often marked by traditional dances and rituals.

Parliament Adopts Statutory Resolution Confirming President’s Rule in Manipur

The Parliament has adopted a statutory resolution confirming President’s Rule in Manipur, following political instability in the state. This move allows the central government to take control of the state’s administration.

Baku to Belem Roadmap

The Baku to Belem Roadmap is a strategic initiative aimed at enhancing cooperation between countries along the Silk Road and beyond. It focuses on economic development, cultural exchange, and infrastructure connectivity.

GI Tag to Chapata Chilli

The Chapata Chilli has been granted a Geographical Indication (GI) tag, recognizing its unique characteristics and geographical origin. This tag helps protect local producers and promotes the product globally.

Axiom-4 Mission (Ax-4)

The Axiom-4 mission is a private spaceflight initiative aimed at conducting scientific research and space exploration. It highlights the growing role of private companies in space exploration.

GI Tag for Kannadippaya

Kannadippaya, a traditional rice variety, has been granted a GI tag. This recognition supports local farmers and preserves cultural heritage.

US Tariff Impact on Seafood Export

The US tariffs have impacted India’s seafood exports, posing challenges for exporters due to increased costs and reduced competitiveness.

Pope’s Pit Viper Venom

Research on Pope’s Pit Viper venom has shown potential for medical applications, highlighting the importance of biodiversity in drug discovery.

National Centre for Polar and Ocean Research (NCPOR)

NCPOR is a leading research institution focused on polar and oceanic studies. It plays a crucial role in understanding climate change and its impacts on global ecosystems.

Heard and McDonald Islands

Heard and McDonald Islands are remote Australian territories in the Southern Ocean, known for their unique biodiversity and scientific research opportunities.