Daily Current Affairs: 07 SEPTEMBER 2023

Why in news?

PM at Jakarta who is attending summit of ASEAN said Its importance for Act East Policy.

In news?

PM hopes to discuss “issues of importance to the region, including food and energy security, environment, health, and digital transformation”

Background:

• India’s foreign policy underwent substantial changes
• Starting with the Look East Policy in the 1990s, India advanced its policy in 2014 as Act East Policy taking up its partnership with the Association of Southeast Asian Nations (ASEAN)
• As there are several geopolitical challenges that hinder smooth India-ASEAN transit, it is critical to demonstrate how India’s Act East Policy fits into ASEAN’s prospects

Areas of Cooperation Between India and ASEAN

1. Economic Cooperation: ASEAN is India’s 4th largest trading partner

2. ASEAN and India have also adopted a joint statement announcing Comprehensive Strategic Partnership.

3. Peace and Security: The two sides reaffirmed the importance of maintaining and promoting peace, stability, maritime safety, and overflight freedom in the Indo Pacific.

4. Connectivity: India has been undertaking several connectivity projects like India-Myanmar-Thailand Trilateral (IMT) Highway and the Kaladan Multimodal Project.

Challenges Related to ASEAN

1. Territorial Disputes: ASEAN member states are enmeshed in territorial disputes with interested powers for a long time. For example, China’s claim to territories in the South China Sea overlaps with competing claims by Brunei Darussalam, Malaysia, the Philippines and Vietnam.

2. Indo-Pacific Rivalry: For a long time, the assumption of China as the primary economic partner and the US as the primary security guarantor has been at the heart of the ASEAN balance.

3. India-ASEAN Challenge: Many bilateral deals with these nations are yet to be finalized, leading to the halting of various aspects of economic ties.

Way forward:

1. Building Resilient Supply Chain: ASEAN and India can leverage the emerging scenario and support each other to build new and resilient supply chains.

2. Maritime Security in Indo-Pacific: The maritime security of the Indo-Pacific region is crucial for the protection of India’s interests as well as those of ASEAN.

3. Regional Tourism: India and ASEAN should also enhance regional tourism and people-to-people connectivity as they already have civilisational and cultural influences on each other.

Unfolding Act-East Policy: Reciprocity and mutual understanding on common concerns will help both ASEAN and India to overcome some of the challenges

Today in news:

· The post-pandemic world order is very different from the world before it. There are three important changes, among others.

1. First, there is a growing realisation that a shift away from a GDP-centric view of the world to a human-centric view is needed.

2. Second, the world is recognising the importance of resilience and reliability in global supply chains.

3. Third, there is a collective call for boosting multilateralism through the reform of global institutions.

• The G-20 2023 Action Plan on Accelerating Progress on SDGs will spearhead the future direction of the G-20 towards implementing SDGs.
• Now, through the G-20, we will help developing countries adapt, build, and scale DPI to unlock the power of inclusive growth.
• Our G-20 Presidency is working on bridging the gender digital divide, reducing labour force participation gaps and enabling a larger role for women in leadership and decision-making.
• For instance, the billions across the world that remain unbanked, or lack digital identities, can be financially included through digital public infrastructure (DPI)

Global Biofuel Alliance (GBA)

• The GBA is a crucial priority under India’s G20 Presidency.
• This alliance will focus on promoting international collaboration and cooperation to encourage the acceptance and utilization of biofuels.
• The GBA, comprising Brazil, the US, and India, aims to impact the global energy architecture and achieve net-zero emissions.
• Other nations can join the GBA by endorsing the foundation document, and membership is open to non-G20 countries.
• India aims to install 5,000 CBG plants across the country by 2024.
• The US ranks number one and Brazil is in second position in Biofuels.