Sign Up

Have an account?

Sign In

Don't have account,

Forgot Password

Lost your password? Please enter your email address. You will receive a link and will create a new password via email.


Have an account?

Sorry, you do not have permission to ask a question, You must login to ask a question.

Need An Account,

Please briefly explain why you feel this question should be reported.

Please briefly explain why you feel this answer should be reported.

Please briefly explain why you feel this user should be reported.

Search
Ask A Question

International Economic Organizations

Share
Followers
34 Answers
26 Questions
Home/Indian Economy/International Economic Organizations

Mains Answer Writing Latest Questions

Vinay Rajan
  • 0
Vinay RajanBegginer
Asked: July 24, 2024In:
  • 0

Consider the impact of India’s involvement with the Organisation for Economic Co-operation and Development (OECD) and its attempts to influence international tax policy, especially in light of current debates about digital economy taxation and the application of the OECD’s Base ...

upsc: international economic organizations
  1. Kusum Mehara
    Kusum Mehara Begginer

    Evaluation of India's Engagement with the Organisation for Economic Co-operation and Development (OECD) 1. Overview of India's Engagement with the OECD Participation and Membership Active Member: India is not a full member but engages with the OECD as a key partner through various forums and initiatRead more

    Evaluation of India’s Engagement with the Organisation for Economic Co-operation and Development (OECD)

    1. Overview of India’s Engagement with the OECD

    Participation and Membership

    • Active Member: India is not a full member but engages with the OECD as a key partner through various forums and initiatives. India has been actively involved in OECD’s discussions and policy-making processes, reflecting its commitment to shaping and aligning with global economic policies.
    • Recent Developments: India’s participation in OECD’s Global Forum on Transparency and Exchange of Information for Tax Purposes and the OECD’s Inclusive Framework on Base Erosion and Profit Shifting (BEPS) illustrates its active engagement.

    2. Shaping the Global Tax Policy Agenda

    Taxation of the Digital Economy

    • International Cooperation: India has been actively involved in the OECD’s discussions on the taxation of the digital economy, which aim to address challenges posed by digitalization and ensure fair tax practices. The OECD’s 2021 Pillar One and Pillar Two framework seeks to address these challenges by reallocating taxing rights and setting a global minimum tax.
    • Recent Example: India supported the OECD’s Pillar One framework, which proposes reallocating a portion of the taxing rights to countries where digital companies have significant consumer bases. India’s 2023 implementation of the equalisation levy aligns with this framework to ensure that digital giants pay taxes where they earn significant revenue.

    Implementation of BEPS Framework

    • Commitment to BEPS Actions: India has been a proactive participant in the OECD’s BEPS framework, which aims to combat tax avoidance by multinational companies and ensure that profits are taxed where economic activities occur and value is created.
    • Recent Example: India has implemented several BEPS Action Plan recommendations, such as the Country-by-Country Reporting (CbCR) requirement, which enhances transparency regarding multinational companies’ operations and tax liabilities. The 2023 updates to the Indian tax code incorporated these BEPS guidelines to align with international standards.

    3. Impact and Challenges

    Positive Impact

    • Improved Tax Compliance: India’s alignment with OECD tax policies has enhanced its tax compliance and transparency. The 2023 introduction of the G20-OECD Inclusive Framework’s BEPS standards has helped India tackle aggressive tax planning and base erosion by multinational corporations.
    • Investment Climate: Adopting OECD standards has improved India’s investment climate by providing a more predictable and transparent tax environment. The 2024 update to India’s tax treaties reflects this improved alignment, attracting foreign investment.

    Challenges

    • Implementation Complexity: The complexity of implementing OECD guidelines, especially the BEPS framework, presents challenges. India’s tax administration has faced difficulties in enforcing some of the BEPS measures due to the intricate nature of international tax rules.
    • Recent Example: The delays in full implementation of the BEPS Action 4 measures related to interest limitation rules have highlighted challenges in adapting domestic tax regulations to international standards.

    4. Future Prospects and Recommendations

    Strengthening Domestic Policies

    • Enhanced Alignment: India should continue to enhance its domestic tax policies to align with OECD standards fully. This includes improving the enforcement of BEPS measures and adapting tax regulations to accommodate the evolving digital economy.
    • Recent Initiatives: The 2024 revision of the Indian Income Tax Act aims to address some of these alignment challenges, focusing on increasing compliance and reducing tax avoidance.

    Promoting International Cooperation

    • Active Participation: India should maintain its active participation in OECD discussions and forums to influence global tax policies and ensure that its interests are represented in international tax reforms.
    • Recent Developments: India’s role in the OECD’s Global Forum and the G20’s discussions on tax matters provides opportunities to shape and contribute to global tax policy developments.

    Addressing Implementation Challenges

    • Capacity Building: Strengthening the capacity of Indian tax authorities and improving the technological infrastructure for implementing OECD standards can help address challenges in enforcing BEPS measures and other tax policies.
    • Recent Examples: Initiatives such as the Digital Payment Ecosystem and Taxpayer Services Enhancement Program are steps towards building the necessary infrastructure for effective policy implementation.

    Conclusion

    India’s engagement with the Organisation for Economic Co-operation and Development (OECD) has significantly impacted its approach to global tax policy, particularly regarding the taxation of the digital economy and the implementation of the BEPS framework. India’s active participation in OECD initiatives has led to improved tax compliance and a more transparent investment climate. However, challenges related to implementation complexity and capacity constraints remain. By strengthening domestic policies, promoting international cooperation, and addressing implementation challenges, India can enhance its role in shaping global tax policy and effectively leverage its engagement with the OECD.

    See less
Team
  • 0
TeamSupreme
Asked: August 22, 2024In: ,
  • 0

Roadmap for Answer Writing 1. Introduction Definition of Agricultural Subsidies: Briefly explain what agricultural subsidies are and their purpose. Importance in India: Highlight the significance of these subsidies in India’s economy, mentioning that they constitute about 2% of India’s GDP. 2. Types of Subsidies ...

upsc: farm subsidies & food securityupsc: international economic organizations
  1. Team
    Best Answer
    Team Supreme

    Model Answer Introduction Agricultural subsidies are vital financial aids that the Indian government offers to enhance farmers' income, reduce farming costs, and promote sustainability. These subsidies constitute about 2% of India’s GDP, playing a crucial role in the agricultural sector's health. DiRead more

    Model Answer

    Introduction

    Agricultural subsidies are vital financial aids that the Indian government offers to enhance farmers’ income, reduce farming costs, and promote sustainability. These subsidies constitute about 2% of India’s GDP, playing a crucial role in the agricultural sector’s health.

    Direct and Indirect Subsidies in India

    Direct Subsidies

    1. Direct Benefit Transfers (DBT): Through the PM-KISAN scheme, farmers receive ₹6,000 annually directly into their bank accounts, eliminating intermediaries.
    2. Input Subsidies: Under the Nutrient Based Subsidy (NBS) scheme, fertilizers like Urea are made affordable; for example, a 50 kg bag of Urea costs around ₹268.
    3. Credit Subsidies: The Kisan Credit Card (KCC) scheme provides loans at subsidized rates, easing financial burdens.
    4. Insurance Schemes: The Pradhan Mantri Fasal Bima Yojana (PMFBY) offers subsidized crop insurance, protecting farmers from unpredicted losses.

    Indirect Subsidies

    1. Irrigation Subsidies: The Accelerated Irrigation Benefits Program (AIBP) can cover up to 60% of irrigation project costs.
    2. Power Subsidies: States like Punjab and Haryana provide free or subsidized electricity for agriculture.
    3. Transport Subsidies: Various state governments subsidize transportation costs for agricultural products.
    4. Seed Subsidy: Financial assistance for certified seeds is provided at 50-60% of the cost under the Seed Village Programme.
    5. Warehousing Subsidies: The Warehousing Development and Regulatory Authority (WDRA) offers subsidies for storage facilities.

    Issues Raised by WTO

    1. Amber Box Subsidies: WTO norms call for reductions in these subsidies, which are essential for small-scale farmers in India, particularly fertilizer subsidies.
    2. Export Subsidies: Subsidies for exports, like those for sugar, face criticism from countries such as Brazil and Australia for distorting global prices.
    3. Domestic Support: The Minimum Support Price (MSP) for crops like wheat and rice is considered trade-distorting by the WTO.
    4. Public Stockholding: India’s large food grain reserves policy is contentious, with claims that it distorts market prices.

    Conclusion

    In conclusion, while agricultural subsidies support India’s farmers, the WTO raises valid concerns about market distortion that must be addressed through careful negotiation and reform.

    See less
Richa
  • 0
RichaBegginer
Asked: August 11, 2024In: , , , , ,
  • 0

economic crasheconomic crisisindian economyrecessionstock markettrading
  1. Avantika Ali
    Avantika Ali Learner

    A significant crash in the stock market can have wide-ranging effects on the Indian economy. While the specific impacts depend on the severity and duration of the crash, here are some general effects that can be observed: 1. Impact on Investors and Household Wealth: Loss of Wealth: A stock market crRead more

    A significant crash in the stock market can have wide-ranging effects on the Indian economy. While the specific impacts depend on the severity and duration of the crash, here are some general effects that can be observed:

    1. Impact on Investors and Household Wealth:
    Loss of Wealth: A stock market crash leads to a decline in the value of investments, which can reduce the wealth of individuals and households. This can lead to reduced consumer spending, particularly on non-essential goods and services.
    Investor Confidence: A crash can significantly reduce investor confidence, making people more risk-averse. This may result in decreased participation in the stock market, which could slow down the recovery process.
    2. Corporate Impact:
    Capital Raising Difficulties: CaCompanies rely on the stock market to raise capital through equity issuance. A crash can make it more difficult and expensive for companies to raise funds, affecting their ability to invest in growth and expansion.
    Debt Repayment Challenges: Companies with significant stock market exposure might face challenges in repaying their debts if their stock prices plummet, potentially leading to defaults.
    3. Impact on Financial Institutions:
    Banking Sector Stress: A decline in the stock market can affect the balance sheets of banks and financial institutions that have invested in equities. This might lead to tighter lending conditions, affecting the overall credit availability in the economy.
    Insurance Companies and Pension Funds: These institutions, which often have significant investments in the stock market, may face losses that could impact their ability to meet long-term obligations.
    4. Economic Growth:
    Reduced Consumption: As household wealth declines and confidence wanes, consumer spending, a major driver of the Indian economy, may decrease. This can slow down economic growth.
    Investment Slowdown: Both domestic and foreign investments may decline as the crash creates uncertainty about the future economic outlook. This can lead to reduced industrial production, slower job creation, and overall economic stagnation.
    5. Government Revenue:
    Lower Tax Revenue: A downturn in the stock market can lead to lower capital gains tax revenue for the government. Additionally, slower economic growth could reduce income tax and GST collections, straining the government’s fiscal position.
    Increased Pressure for Stimulus: The government may face increased pressure to intervene with stimulus measures to stabilize the economy, which could lead to higher fiscal deficits.
    6. Currency and Inflation:
    Currency Depreciation: A stock market crash might lead to a flight of foreign capital from the Indian market, leading to a depreciation of the Indian Rupee. This can increase the cost of imports, potentially leading to higher inflation.
    Inflationary Pressures: If the crash leads to currency depreciation or if the government implements stimulus measures that increase the money supply, inflation could rise, affecting the cost of living.
    Foreign Investment and Global Perception.
    The decline in Foreign Direct Investment (FDI) and Foreign Portfolio Investment (FPI): A crash could deter foreign investors, leading to reduced FDI and FPI. This can negatively impact sectors that rely on foreign capital and technology.
    Global Perception: A severe market crash might affect India’s image as an attractive investment destination, leading to longer-term challenges in attracting global capital.
    Conclusion:
    A crash in the stock market can have significant and multifaceted effects on the Indian economy, from reducing household wealth and consumer spending to affecting corporate investment and government revenue. The extent of the impact depends on how prolonged and deep the crash is, and how effectively the government and financial institutions respond to stabilize the situation.

    See less
Rudra prasad bhuyan
  • 0
Rudra prasad bhuyanBegginer
Asked: July 31, 2024In: , , , , ,
  • 0

armyeconomy.military
  1. Ashok Suthar
    Ashok Suthar Begginer

    The Agnipath scheme, aimed at modernizing India's military by recruiting younger soldiers (Agniveers) on short-term contracts, presents both opportunities and challenges for military readiness and modernization. Here’s an analysis of its potential impact: Potential Impact on Military Readiness and MRead more

    The Agnipath scheme, aimed at modernizing India’s military by recruiting younger soldiers (Agniveers) on short-term contracts, presents both opportunities and challenges for military readiness and modernization. Here’s an analysis of its potential impact:

    Potential Impact on Military Readiness and Modernization

    Positive Impacts

    1. Youth and Agility: The scheme ensures a younger, more agile force, capable of adapting to modern warfare’s dynamic and technologically advanced nature. Younger recruits may be more open to learning and integrating new technologies.
    2. Cost-Effectiveness: By reducing long-term financial commitments related to pensions and benefits, the scheme can free up resources for investment in advanced weaponry, training, and technology upgrades.
    3. Fresh Perspectives: Regular infusion of new personnel can bring fresh perspectives and innovative ideas to the armed forces, potentially improving problem-solving and adaptability.
    4. Focus on Skill Development: The scheme’s emphasis on training and skill development can ensure that Agniveers are well-prepared for both military and civilian careers, enhancing the overall skill level of the youth population.

    Challenges and Potential Negative Impacts

    1. Experience and Expertise Loss: The short-term nature of the Agniveer tenure (four years) could lead to a high turnover rate, resulting in the loss of experienced personnel. This could affect the depth of expertise and institutional knowledge within the armed forces.
    2. Operational Capability: Frequent turnover might hinder the development of cohesive and experienced units, which are essential for complex and prolonged military operations. Team dynamics and trust, which are critical in combat, might be adversely affected.
    3. Training and Integration: Continuously training new recruits and integrating them into the armed forces could strain existing training infrastructure and resources. Ensuring that Agniveers reach the required operational readiness in a short period is challenging.
    4. Morale and Commitment: The temporary nature of the tenure might impact the morale and long-term commitment of the Agniveers, potentially affecting their motivation and performance. The prospect of a short military career might not attract the best talent.
    5. Post-Tenure Employment: Ensuring meaningful employment opportunities for Agniveers after their tenure is crucial. Failure to provide adequate post-service career options could lead to social and economic challenges.

    Mitigation Strategies

    To address these challenges and maximize the benefits, several strategies can be implemented:

    1. Enhanced Training Programs: Develop intensive and comprehensive training programs to ensure Agniveers reach operational readiness quickly.
    2. Retention Options: Offer pathways for the best-performing Agniveers to transition into regular, long-term military service, retaining valuable experience and expertise.
    3. Post-Tenure Support: Establish robust support systems for Agniveers transitioning to civilian life, including job placement services, vocational training, and higher education opportunities.
    4. Technology Integration: Leverage technology to streamline training processes and enhance operational efficiency, compensating for the reduced tenure.
    5. Cohesive Units: Implement measures to foster team cohesion and trust within short-term units, such as team-building exercises and stable unit assignments during the Agniveer tenure.

    Conclusion

    The Agnipath scheme has the potential to modernize India’s military and make it more agile and cost-effective. However, the short-term nature of the Agniveer tenure poses significant challenges to operational capabilities and the retention of experienced personnel. By implementing strategic measures to address these challenges, the armed forces can mitigate the potential negative impacts and harness the benefits of this innovative recruitment approach.

    See less
Rudra prasad bhuyan
  • 0
Rudra prasad bhuyanBegginer
Asked: July 31, 2024In: , , , , , , ,
  • 0

economy.g20international
  1. Dhanish S
    Dhanish S Begginer
    Discuss the role of the G20 in shaping global economic policies. How do both advanced and emerging economies influence and contribute to the G20’s objectives? Provide examples of key initiatives or agreements that have emerged from G20 meetings and analyze their impact on the global economy.

    The G20, comprising 19 countries and the European Union, plays a crucial role in shaping global economic policies by providing a platform for advanced and emerging economies to collaborate on addressing major economic challenges. The G20 represents around 85% of global GDP and two-thirds of the worlRead more

    The G20, comprising 19 countries and the European Union, plays a crucial role in shaping global economic policies by providing a platform for advanced and emerging economies to collaborate on addressing major economic challenges. The G20 represents around 85% of global GDP and two-thirds of the world’s population, making it a significant force in international economic governance.

     

    Role of the G20

     

    Policy Coordination:

    The G20 coordinates macroeconomic policies among its members to promote global economic stability and growth. This includes addressing issues such as monetary policy, fiscal policy, and structural reforms.

     

    Crisis Management:

    The G20 has been instrumental in managing global financial crises. For example, during the 2008 financial crisis, the G20 coordinated stimulus measures that helped stabilize the global economy.

     

    Financial Regulation:

    The G20 works to improve financial regulation and supervision to prevent future crises. This includes efforts to strengthen banking regulations and increase transparency in financial markets.

     

    Inclusive Growth:

    The G20 promotes inclusive growth by addressing issues such as poverty, inequality, and sustainable development. This includes initiatives to support developing countries and integrate them into the global economy.

    Influence of Advanced and Emerging Economies

     

    Advanced Economies:

    Countries like the United States, Germany, and Japan bring extensive experience in economic policy-making and substantial financial resources. They influence G20 agendas by promoting policies that stabilize and grow the global economy. For example, advanced economies often lead discussions on financial regulation and trade policies.

     

    Emerging Economies:

    Countries like China, India, and Brazil provide perspectives that ensure the interests of developing nations are represented. They advocate for policies that support sustainable development, poverty reduction, and equitable growth. Emerging economies also contribute to global demand and economic diversification.

     

    Key Initiatives and Agreements

     

    2008 Financial Crisis Response:

    In response to the global financial crisis, the G20 implemented coordinated fiscal stimulus packages and pledged over $1 trillion to restore credit, growth, and jobs. This collective action helped to stabilize the global economy and prevent a deeper recession.

     

    Basel III:

    The G20 endorsed the Basel III regulatory framework, which introduced stronger capital and liquidity requirements for banks. This has enhanced the resilience of the global banking system and reduced the risk of future financial crises.

     

    Paris Agreement on Climate Change (2015):

    The G20 played a significant role in facilitating the Paris Agreement by promoting dialogue and consensus among member countries. The agreement aims to limit global warming and reduce greenhouse gas emissions, impacting global environmental and economic policies.

     

    Digital Economy and Innovation:

    The G20 has increasingly focused on the digital economy, recognizing its role in driving future growth. Initiatives include promoting digital infrastructure, enhancing cybersecurity, and fostering innovation.

     

    Sustainable Development Goals (SDGs):

    The G20 supports the United Nations’ SDGs, aiming to address global challenges such as poverty, inequality, and climate change. The G20’s endorsement and action plans help align national policies with these global objectives.

     

    Impact on the Global Economy

     

    Economic Stabilization:

    The G20’s coordinated actions during the 2008 financial crisis demonstrated the power of collective response, stabilizing global markets and fostering recovery.

    Financial System Resilience:

    Regulatory frameworks like Basel III have strengthened the global financial system, making it more resilient to shocks.

    Climate Action:

    The G20’s support for the Paris Agreement has galvanized global efforts to combat climate change, influencing national policies and encouraging sustainable practices.

    Digital Transformation:

    G20 initiatives on the digital economy are fostering innovation, improving digital infrastructure, and addressing the digital divide, contributing to global economic growth and competitiveness.

     

    By bringing together advanced and emerging economies, the G20 provides a unique forum for addressing global economic challenges, promoting stability, and fostering inclusive and sustainable growth. Its initiatives and agreements have a profound impact on the global economy, shaping policies that influence both national and international economic landscapes.

    See less
Rudra prasad bhuyan
  • 0
Rudra prasad bhuyanBegginer
Asked: July 31, 2024In: , , , , , , , , , ,
  • 0

gameinternationalolympicsports
  1. Srishti Roy
    Srishti Roy Begginer

    The Olympic Games significantly impact global diplomacy and international relations by fostering unity, showcasing soft power, and providing a platform for peaceful interaction among nations. Through the Olympics, countries can engage in dialogue and cooperation, transcending political and culturalRead more

    The Olympic Games significantly impact global diplomacy and international relations by fostering unity, showcasing soft power, and providing a platform for peaceful interaction among nations. Through the Olympics, countries can engage in dialogue and cooperation, transcending political and cultural differences.

    For instance, the 2018 Winter Olympics in PyeongChang played a crucial role in easing tensions on the Korean Peninsula. North and South Korea marched together under a unified flag during the opening ceremony and fielded a joint women’s ice hockey team, symbolizing a rare moment of unity and diplomatic engagement amid longstanding hostilities.

    Similarly, the 2008 Beijing Olympics highlighted China’s rising global influence and soft power. By hosting a spectacular event, China aimed to project an image of progress and modernity, enhancing its international standing and fostering diplomatic relationships.

    The 2021 Tokyo Olympics, held amid the COVID-19 pandemic, showcased international solidarity and resilience. Despite challenges, countries collaborated to ensure the safety and success of the Games, reinforcing the spirit of global cooperation.

    Overall, the Olympics serve as a microcosm of international diplomacy, where nations can demonstrate goodwill, resolve conflicts, and strengthen ties through sportsmanship and mutual respect, contributing to global peace and understanding.

    See less
Subham Bose
  • 0
Subham BoseBegginer
Asked: July 27, 2024In: ,
  • 0

in an era marked by escalating climate change impacts, state the challenges and prospects of climate financing in India or developing countries as a whole.

climate financing
  1. Badavath Jaipal
    Badavath Jaipal Begginer

    Prospects of Climate Financing in India   - Net Zero Emissions Target: India has set a target of reaching net zero emissions by 2070, which will require significant investment in renewable energy and other low-carbon technologies ¹.   - Climate Finance Needs: India requires an estimated $2Read more

    Prospects of Climate Financing in India

     

    – Net Zero Emissions Target: India has set a target of reaching net zero emissions by 2070, which will require significant investment in renewable energy and other low-carbon technologies ¹.

     

    – Climate Finance Needs: India requires an estimated $2.5 trillion to meet its climate mitigation commitments by 2030, and an additional $1 trillion for adaptation and resilience investments ².

     

    – Current Investment: Current investment in climate finance in India fulfills less than 25% of the estimated needs, highlighting the need for increased investment ².

     

    – Role of Financial Institutions: Sector-specific financial institutions, such as REC Limited and Power Finance Corporation, play a crucial role in mobilizing green funds and driving the transition to cleaner energy ¹.

     

    – Green Climate Fund: India has accessed funding from the Green Climate Fund, which aims to accelerate transformative climate action in developing countries ³.

     

    – Challenges: Despite progress, climate finance in India faces challenges, including the need for innovative financial solutions, addressing barriers to investment, and fostering a sustainable finance ecosystem ¹.

     

    – Opportunities: Climate finance in India presents opportunities for growth, including the development of new financial instruments, mobilizing debt, and strengthening capital markets ².

    See less
Ganesh Naidu
  • 0
Ganesh NaiduBegginer
Asked: July 26, 2024In:
  • 0

Examine how international organizations like the World Health Organization (WHO) and the World Intellectual Property Organization (WIPO) have shaped India’s policy environment regarding public health, intellectual property rights, and the availability of necessary medications. Also, evaluate the nation’s approaches to ...

upsc: international economic organizations
  1. Kusum Mehara
    Kusum Mehara Begginer

    Role of International Economic Organizations in Shaping India's Policy Landscape 1. World Intellectual Property Organization (WIPO) Intellectual Property Rights (IPR) Policy Guidance: WIPO provides guidance on intellectual property (IP) issues, including patents, trademarks, and copyrights. For IndiRead more

    Role of International Economic Organizations in Shaping India’s Policy Landscape

    1. World Intellectual Property Organization (WIPO)

    Intellectual Property Rights (IPR)

    • Policy Guidance: WIPO provides guidance on intellectual property (IP) issues, including patents, trademarks, and copyrights. For India, WIPO’s policies influence domestic IP laws and practices, aiming to strengthen IP protection and enforcement.
    • Recent Example: The 2023 WIPO Global Innovation Index highlighted India’s advancements in innovation and IP protection, prompting India to align its policies with international standards. This includes reforms in patent laws and support for start-ups and innovation ecosystems.

    Capacity Building and Technical Assistance

    • Training and Resources: WIPO offers technical assistance and capacity-building programs to help member countries enhance their IP systems. India benefits from WIPO’s training programs on IP management and enforcement.
    • Recent Example: In 2023, India participated in WIPO’s IP Training Program to improve its IP enforcement capabilities and support the country’s burgeoning tech sector.

    Balancing Domestic and Global Commitments

    • Domestic Reforms: India’s IP reforms, such as the amendments to the Patents Act to comply with TRIPS (Trade-Related Aspects of Intellectual Property Rights) and support for local innovation, reflect its efforts to balance domestic priorities with international commitments.
    • Recent Example: The 2023 launch of the National Intellectual Property Rights Policy aimed to enhance India’s IP ecosystem while aligning with WIPO’s international frameworks.

    2. World Health Organization (WHO)

    Public Health Policies

    • Guidance on Health Standards: WHO provides global health guidelines and standards that influence India’s public health policies. This includes guidelines on disease prevention, healthcare practices, and health emergencies.
    • Recent Example: During the COVID-19 pandemic, WHO’s guidelines on pandemic management and vaccine distribution significantly influenced India’s National COVID-19 Response Plan and vaccination strategy.

    Access to Essential Medicines

    • Global Health Initiatives: WHO supports initiatives to improve access to essential medicines and healthcare in low- and middle-income countries. India, being a major producer of generic medicines, aligns its policies with WHO’s efforts to ensure affordable access to medicines.
    • Recent Example: India’s involvement in the COVID-19 Vaccines Global Access (COVAX) initiative was guided by WHO’s objective to ensure equitable access to vaccines, balancing its role as a major vaccine supplier with global health needs.

    Domestic and Global Balancing Strategies

    Legislative and Policy Frameworks

    • Domestic Policies: India’s National Health Policy 2017 and pharmaceutical policies reflect efforts to balance domestic healthcare needs with international health standards and commitments. This includes strengthening its healthcare infrastructure and ensuring affordable access to medicines.
    • Recent Example: The 2023 National Action Plan for Antimicrobial Resistance (AMR) aligns with WHO guidelines to combat AMR while addressing India’s specific healthcare challenges.

    Strengthening Public Health Infrastructure

    • Investment in Healthcare: India’s investments in public health infrastructure, such as the Ayushman Bharat scheme, demonstrate efforts to enhance healthcare access while adhering to WHO’s health standards.
    • Recent Example: The 2024 rollout of the Pradhan Mantri Jan Arogya Yojana (PMJAY), a health insurance scheme, supports WHO’s goals of universal health coverage and improved health outcomes.

    3. Challenges and Strategies

    Balancing Global Commitments with Domestic Priorities

    • Economic Constraints: Balancing global commitments with domestic priorities can be challenging due to economic constraints and resource limitations. India must navigate these constraints while adhering to international guidelines and standards.
    • Recent Example: The debate over patent protection for COVID-19 vaccines highlighted tensions between global IP commitments and domestic healthcare needs.

    Implementing International Standards

    • Capacity and Infrastructure: Implementing international standards requires significant investment in capacity and infrastructure. India faces challenges in ensuring compliance while addressing domestic needs.
    • Recent Example: The efforts to enhance healthcare infrastructure under the National Health Mission reflect India’s ongoing challenges in aligning with WHO standards while addressing local health needs.

    4. Recommendations

    Enhanced Collaboration

    • Strengthening Partnerships: India should continue strengthening its collaboration with WIPO and WHO to effectively integrate international guidelines into domestic policies. Enhanced cooperation can help address global challenges while supporting national priorities.
    • Recent Initiatives: India’s active participation in WHO’s global health initiatives and WIPO’s IP forums highlights the importance of ongoing collaboration.

    Focus on Sustainable Development

    • Aligning Policies: India should align its policies with international frameworks while focusing on sustainable development goals. This includes balancing IP protection with innovation and ensuring equitable access to healthcare and medicines.
    • Recent Example: The 2024 launch of the Sustainable Development Goals (SDG) India Index reflects India’s commitment to integrating global standards into its national development agenda.

    Addressing Implementation Challenges

    • Capacity Building: Investing in capacity building and infrastructure development is crucial for effectively implementing international standards. India should focus on strengthening its systems to manage both domestic and global commitments.
    • Recent Initiatives: The National Digital Health Mission aims to enhance healthcare infrastructure and digital health capabilities, supporting better alignment with WHO guidelines.

    Conclusion

    International economic organizations like WIPO and WHO play a significant role in shaping India’s policies on intellectual property rights, public health, and access to essential medicines. India’s engagement with these organizations involves balancing global commitments with domestic priorities through legislative reforms, policy alignment, and capacity building. By enhancing collaboration, focusing on sustainable development, and addressing implementation challenges, India can effectively navigate its global and domestic responsibilities, ensuring progress in both international standards and national development goals.

    See less
Eklavya Pandit
  • 0
Eklavya PanditBegginer
Asked: July 26, 2024In:
  • 0

Talk about the possible effects of this mega-regional trade agreement on trade patterns, regional economic integration, and industrial competitiveness of India as a result of its membership in the Regional Comprehensive Economic Partnership (RCEP).

upsc: international economic organizations
  1. Govind Pillai
    Govind Pillai Begginer

    Implications of India's Participation in the Regional Comprehensive Economic Partnership (RCEP) The Regional Comprehensive Economic Partnership (RCEP) is a significant mega-regional trade agreement involving 15 Asia-Pacific countries, including major economies such as China, Japan, and South Korea,Read more

    Implications of India’s Participation in the Regional Comprehensive Economic Partnership (RCEP)

    The Regional Comprehensive Economic Partnership (RCEP) is a significant mega-regional trade agreement involving 15 Asia-Pacific countries, including major economies such as China, Japan, and South Korea, but notably excluding India. India’s decision to not join the RCEP has important implications for its industrial competitiveness, trade patterns, and regional economic integration. Understanding these implications requires a detailed examination of the potential impacts and the rationale behind India’s decision.

    1. Industrial Competitiveness

    a. Impact on Domestic Industries: India’s non-participation in the RCEP has significant implications for its industrial competitiveness:

    • Market Access: By not joining the RCEP, Indian industries miss out on enhanced market access to the member countries. This could limit opportunities for Indian exporters to benefit from reduced tariffs and expanded market reach.
    • Competition from Imports: Without the RCEP framework, Indian industries may face intensified competition from lower-priced imports from RCEP member countries, particularly in sectors like textiles, electronics, and automobiles. For instance, lower tariff barriers in other RCEP countries might result in increased imports of these goods into India, potentially impacting domestic manufacturing.

    b. Investment Flows: The RCEP agreement is expected to boost foreign direct investment (FDI) among member countries due to greater market access and streamlined regulations. India’s absence might mean:

    • Reduced Investment Opportunities: Indian industries could miss out on potential investments from RCEP member countries seeking to leverage the trade benefits of the agreement. This could affect sectors like infrastructure, technology, and manufacturing, where increased FDI could have bolstered growth.

    2. Trade Patterns

    a. Trade Diversification and Imbalance: India’s exclusion from the RCEP may influence its trade patterns in several ways:

    • Shift in Trade Routes: RCEP members, benefiting from reduced tariffs, might increasingly source goods and services from each other, potentially diminishing India’s role in regional supply chains. For instance, Indian pharmaceutical companies might face challenges in maintaining their export volumes to RCEP countries as these markets may favor intra-RCEP suppliers.
    • Trade Deficit Concerns: India could face a worsening trade deficit with RCEP countries if its non-participation leads to increased imports and stagnation in exports. For example, India already has a significant trade deficit with China, and the RCEP’s lower tariffs on Chinese goods could exacerbate this imbalance.

    b. Bilateral Agreements: In response to its non-participation, India might seek to negotiate bilateral trade agreements to secure favorable terms and mitigate potential adverse effects. Recent developments include:

    • Free Trade Agreements (FTAs): India has been negotiating FTAs with various countries and regions, such as the European Union and the United Kingdom, to compensate for the missed opportunities in RCEP.

    3. Regional Economic Integration

    a. Impact on Regional Integration: India’s absence from the RCEP affects regional economic integration:

    • Reduced Influence: India’s non-participation means it misses out on shaping the regional economic policies and standards set by the RCEP. This might limit its influence on trade rules and regulations that could impact its own economic interests.
    • Strategic Alliances: The RCEP is expected to enhance economic integration among member countries through harmonized trade rules and investment flows. India’s exclusion could affect its strategic positioning in the Asia-Pacific region, where regional economic integration is crucial for geopolitical influence.

    b. Regional Supply Chains: The RCEP aims to create a more integrated regional supply chain:

    • Supply Chain Integration: By not participating, India might find itself on the periphery of the evolving regional supply chain networks, which could affect its industries’ ability to integrate seamlessly into regional production and distribution networks.

    4. Strategic and Policy Considerations

    a. Domestic Concerns: India’s decision to stay out of the RCEP reflects concerns about:

    • Trade Imbalances: Indian policymakers expressed worries about the potential exacerbation of trade deficits with member countries, particularly China.
    • Agricultural and Industrial Sectors: Concerns about the impact on sensitive sectors such as agriculture and small and medium-sized enterprises (SMEs) also influenced the decision to opt out.

    b. Future Prospects: India may revisit its position on RCEP or seek alternative multilateral and regional arrangements to enhance trade and economic cooperation:

    • Engagement in Other Platforms: India continues to engage in other regional and global trade platforms, such as the Indo-Pacific Economic Framework (IPEF), to address its trade and economic goals.

    Conclusion

    India’s non-participation in the RCEP has significant implications for its industrial competitiveness, trade patterns, and regional economic integration. While it avoids potential adverse effects on domestic industries and trade imbalances, it also misses out on opportunities for greater market access, investment, and influence in regional economic governance. As India navigates its economic strategy, balancing domestic concerns with regional integration opportunities will be crucial for its future economic trajectory.

    See less
Load More Questions

Resources & Suggestions

Mains Answer Writing Latest Articles

On: March 8, 2025

Daily Answer Writing Practice Questions (8 March 2025)

Examine the key issues that obstruct the development of port infrastructure in India and outline the recent measures taken by the government to address these challenges. (Answer in 200 words) भारत में बंदरगाह अवसंरचना के विकास में आने वाली विभिन्न ...

On: March 7, 2025 Comments: 0

मानव-वन्यजीव संघर्ष का प्रबंधन

प्रधानमंत्री की घोषणा: मानव-वन्यजीव संघर्ष प्रबंधन के लिए एक समर्पित केंद्र की स्थापना। चुनौतियाँ: जनसंख्या वृद्धि और संसाधनों की प्रतिस्पर्धा। वन्यजीव संरक्षण का महत्व पारिस्थितिक संतुलन और जलवायु अनुकूलन: वन्यजीव पारिस्थितिकी तंत्र को बनाए रखने और जलवायु पैटर्न को विनियमित ...

On: March 7, 2025 Comments: 0

Safeguarding Wildlife, Securing Harmony”

Context: Based on the editorial “Living with animals – the challenges and the solution” published in The Indian Express. Announcement: PM announced a center for managing human-wildlife conflict. (Press Information Bureau (PIB) release or official government announcement.) Importance of Wildlife ...

Explore Our Blog