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GS Paper: GS3

  • South East Africa Montane Archipelago (SEAMA) Ecoregion

    Why in the news?

    A recent study has revealed about undocumented biodiversity in the newly recognized South East Africa Montane Archipelago (SEAMA) Ecoregion.

    What is SEAMA Ecoregion?

    • The SEAMA is a recently recognized ecoregion located in Southern Africa.
    • It spans across northern Mozambique and incorporating Mount Mulanje in Malawi.
    • SEAMA is distinguished by its mountainous terrain, encompassing diverse habitats such as montane forests, grasslands, and rock faces.
    • Despite its relatively recent recognition, SEAMA has been identified as a hub of biodiversity, hosting numerous species of plants, vertebrates, and invertebrates.

    Recent Findings on SEAMA Ecoregion

    • Species Documentation: The researchers identified 127 plants, 45 vertebrates, and 45 invertebrate species, including two endemic genera of plants and reptiles.
    • Endemic Reptiles: SEAMA is home to 22 strictly endemic reptile species, most of which are threatened by habitat loss due to deforestation.
    • Global Significance: The remarkable diversity of SEAMA has prompted proposals to designate it as a new ecoregion of global biological importance.

    Conservation Challenges

    • Late Discovery: Despite being located in a region considered the birthplace of modern humans, the mountains of northern Mozambique remained largely unstudied until recent decades due to historical conflicts.
    • Deforestation Threats: SEAMA faces severe deforestation threats, with up to 18% of its primary humid forest cover lost since 2000.
    • Causes of Deforestation: Slash and burn shifting agricultural practices, along with charcoal production, are the primary drivers of deforestation in the region.

    PYQ:

    2013: Which one of the following pairs a correctly matched?

    Geographical feature and region

    (a) Abyssinian Plateau – Arabia

    (b) Atlas Mountains – Northwest Africa

    (c) Guiana Highlands – Southwest Africa

    (d) Okavango Basin – Patagonia

     

    Practice MCQ:

    The SEAMA Ecoregion often seen in news is located in-

    (a) Latin America

    (b) Europe

    (c) Africa

    (d) Asia

  • UNEP Food Waste Index Report, 2024

    Why in the news?

    The Food Waste Index Report, 2024 was recently released by the United Nations Environment Programme (UNEP) and Waste & Resources Action Programme (WRAP), a UK based non-profit organization.

    Food Waste Index Report:

    • It tracks the global and national generation of food and inedible parts wasted at the retail and consumer (household and food service) levels.
    • It was first launched in 2011.
    • It was conceived as a tool to monitor progress towards international targets, such as those outlined in the SDG 12.3, which calls for halving food waste by 2030.

     

    Key Findings of the 2024 Report

    1. Total Food Waste Generation in 2022:
      • Globally, 1.05 billion tonnes of food waste were generated in 2022.
    2. Distribution of Food Waste by Sector:
      • Households accounted for 60% of the total food waste.
      • Food services were responsible for 28% of the total food waste.
      • Retail accounted for 12% of the total food waste.
    3. Per Capita Food Waste:
      • The average per capita food waste was 132 kilograms in 2022.
    4. Economic Cost of Food Waste:
      • The economic toll of food loss and waste is estimated at $1 trillion.
    5. Contribution to Greenhouse Gas Emissions:
      • Food loss and waste contribute significantly to greenhouse gas emissions, accounting for 8-10% of annual global emissions.
    6. Regional Trends:
      • Food waste levels vary minimally across income groups.
      • Hotter climates tend to generate more household food waste due to consumption patterns and infrastructure limitations.
      • Rural areas generally exhibit lower levels of food waste compared to urban areas.
    7. Policy Integration:
      • Only 21 countries, including Australia, Japan, the United Kingdom, the United States, and the European Union, have included food loss and waste reduction in their climate plans or Nationally Determined Contributions (NDCs).

    PYQ:

    2019: In India, ‘extended producer responsibility’ was introduced as an important feature in which of the following?

    (a) The Bio-medical Waste (Management and Handling) Rules, 1998

    (b) The Recycled Plastic (Manufacturing and Usage) Rules, 1999

    (c) The e-Waste (Management and Handling) Rules, 2011

    (d) The Food Safety and Standard Regulations, 2011

     

    Practice MCQ:

    Which of the following statements is correct about the Food Waste Index Report?

    (a) It tracks only the global generation of food waste at the retail level.

    (b) It was first launched in 2011 to monitor progress towards reducing food waste in households and food service sectors.

    (c) It is a tool aimed at monitoring progress towards international targets outlined in SDG 12.3 to halve food waste by 2030.

    (d) It primarily focuses on tracking inedible parts wasted at the industrial level.

     

  • How much should developed countries pay for climate action?

    Why in the news? 

    As the climate bomb ticks, Global Climate negotiators are working on a new global climate finance budget ahead of COP29 in Baku this November.
    • In 2009, developed countries committed to paying $100 bn every year. However, they failed to do so.

    Context:

    • The 2022 climate change conference (COP 28) held in Sharm el-Sheikh decided to establish a Loss and Damage Fund. 
    • These funds would work as a “transition away” from fossil fuels, and a promise to triple global renewable energy capacity by 2030.
    • On March 22, a two-day meeting was concluded in Copenhagen, Denmark, the first minister-level climate meeting for this year, and a ‘New Collective Quantitative Goal’ was finalized.

    What is the New Collective Quantitative Goal (NCQG)?

    • NCQG represents the yearly sum that developed countries must gather from 2025 onward to finance climate action in developing nations.
    • It has to be higher than the $100 billion that developed countries, collectively, had promised to raise every year from 2020, but had failed to deliver.

     

    Collective Funds need to ensure effective Climate Action:

    • UN Climate Change Report (2021): According to a report by UN Climate Change, developing countries would need approximately $6 trillion annually between 2021 and 2030 to implement their climate action plans.
    • Estimation in Sharm el-Sheikh Agreement: The final agreement at Sharm el-Sheikh included estimates suggesting that a global transition to a low-carbon economy could require about $4-6 trillion annually until 2050.
    • Global GDP Percentage: While these estimates vary, an approximate range of $5-7 trillion annually is suggested to effectively address climate change. This would require deploying about 5-7% of the global GDP towards climate action.
    • Renewable Energy Capacity: Meeting the target of tripling renewable energy capacity, as agreed in Dubai, is estimated to cost $30 trillion by 2030, according to the International Renewable Energy Association (IRENA).

    Prospects for a Realistic New Annual Climate Finance Target:

    • Current Funding Shortfall: The UNFCCC, responsible for organizing climate meetings and facilitating the implementation of climate agreements, is facing a severe shortage of funds. Its budget is currently less than half funded, which hampers its ability to fulfill its mandate effectively.
    • Call for Increased Climate Finance: There is a call for developed countries to commit to significantly higher levels of climate finance. India, for instance, has called for the New Collective Quantitative Goal (NCQG) to be set at least at $1 trillion per year 
    • Need of Innovative Funding Sources: Simon Stiell, Executive Secretary of UN Climate Change, emphasized the need for innovative funding sources to meet the substantial financial requirements for climate action.  
    • Dependence on Contributions: The UNFCCC relies heavily on contributions from countries and voluntary organizations to carry out its work. 

    How will this money be used?

    • On-time Delivery: Ensuring effective delivery of the new funding is essential for achieving meaningful impact.
    • Transparent and Inclusive Monitoring: Developing countries emphasize the need for a transparent and inclusive process to monitor and measure the agreed-upon amount.  
    • Distribution Across Needs: The new funding is distributed across different climate action areas such as mitigation, adaptation, and addressing loss and damage as per need 

    Conclusion: Developed countries must commit to higher climate finance, possibly $1 trillion annually, for effective action. Innovative funding sources and transparent monitoring are crucial for impactful distribution across climate action areas.

    Mains PYQs

    Q  Clean energy is the order of the day.’ Describe briefly India’s changing policy towards climate change in various international fora in the context of geopolitics.(UPSC IAS/2022)

    Q ‘Climate change’ is a global problem. How India will be affected by climate change? How Himalayan and coastal states of India will be affected by climate change? (UPSC IAS/2017)

     

  • [29 March 2024] The Hindu Op-ed: Understanding India’s coal imports

    [29 March 2024] The Hindu Op-ed: Understanding India’s coal imports

    PYQ Relevance:

    Mains: 

    Q) “Despite the adverse environmental impact, coal mining is still inevitable for Development”. Discuss. (UPSC CSE 2017) 

    Q) What are the consequences of Illegal mining? Discuss the Ministry of Environment and Forest’s concept of GO AND NO GO zones for the coal mining sector. (UPSC CSE 2013) 

    Prelims:

    Q) Despite having large reserves of coal, why does India import millions of tonnes of coal?
    1. It is the policy of India to save its coal reserves for the future and import it from other countries for the present use.
    2. Most of the power plants in India are coal-based and they are not able to get sufficient supplies of coal from within the country.
    3. Steel companies need large quantities of coking coal which has to be imported.

    Which of the statements given above is/are correct? (UPSC CSE 2012) 
    (a) 1 only
    (b) 2 and 3 only
    (c) 1 and 3 only
    (d) 1, 2 and 3

    Note4Students: 

    Prelims: International Organisations;

    Mains: International Organisations; Trades and Practices;

    Mentor comments: The spectre of electricity shortages rises again as hot weather descends across the country. In recent years, increasingly unpredictable weather patterns and a fast-growing economy have led to big increases in electricity demand, the meeting of which reliably becomes a challenge. But some of the discourse in this context deserves greater scrutiny.

    Let’s learn. 

    —

    Why in the News?

    The recent unpredictable Weather Discourse and increase in Energy Demands around the coal sector in India needs a course correction.

    What are the recent challenges highlighted with coal?

    • Challenge with Logistics:
      • Shortage of Domestic Thermal Coal: It is the kind of Coal used in electricity generation, which is primarily blamed for the electricity shortage. Electricity shortage last year was about 840 million units due to poor monsoon, in turn leading to increased demand and reduced supply from some sources. 
      • Shortage of Logistics: According to the Ministry of Power advisory, the core challenge is insufficient logistics to move the coal to power plants. This leads to the second conflation, that the only alternative source is imports. 
    • The issue of imports:
      • Some thermal coal imports to blend with domestic coal may be required even if auctions are used. The question then is about how much of imports for which coal plants. 
      • India has been the major demand side driver of the global coal market. The higher imports is an indication of the preparations to meet the rise in demand of power. 
      • A mandatory blending of 6% imported coal, instead of the current blending levels, can increase the variable cost of coal-based electricity by 4.5%-7.5%. 
      • Indeed, as in the report on Annual Rating of Power Distribution Utilities, power purchase costs increased by 15% in FY23 due to increases in demand, coal imports, and prices of imported coal. 
    • The Issue with Generation and Location:
      • The plants that generate the most (pit-head plants) are situated close to mines, far away from ports, and do not face coal shortages. Shortages in periods of high demand are more likely in plants far away from mines which typically do not generate as much. 

    Way Forward:

    • Reducing Coal dependency: The discourse around coal shortages in the country needs course correction. It cannot be assumed that coal imports are the default way to address shortages. 
    • Increasing Accessibility: The fundamental challenge is to overcome the logistics bottlenecks that are preventing coal from reaching the locations where required. 
    • Government Interventions needed: In the interim, regulatory commissions and distribution utilities must ensure that all coal-based plants are alert to the possibility of coal shortages and identify the cheapest alternative sources which may not be imports to bridge the gap. 

    https://www.thehindu.com/opinion/op-ed/understanding-indias-coal-imports/article68003203.ece

  • Discovery of Amino Acid unveils How Light makes Stomata Open in Plants

    Why in the news?

    Scientists from Nagoya University have made a discovery about the regulation of Stomatal opening in plants, a process vital for efficient photosynthesis by a type of amino acid threonine (Thr881).

    What are Stomatal Openings?

    • Stomata are microscopic pores on plant leaves crucial for gas exchange.
    • They particularly uptake carbon dioxide necessary for photosynthesis.

    How does Light make Stomata Open?

    • Research unveiled a novel regulatory mechanism involving the phosphorylation of the 881st threonine residue (Thr881) of the plasma membrane proton pump in response to red and blue light.
    • Phosphorylation, a process involving the addition or removal of a phosphate group from amino acids, acts as a regulatory switch, influencing protein structure and function.
    • The researchers focused on the phosphorylation of Thr881 and its role in stomatal opening.
    • They observed phosphorylation in response to both red and blue light conditions, highlighting the interplay between photosynthesis and light signaling.

    Significance of Thr881 Phosphorylation

    • Mutant studies confirmed the critical role of Thr881 phosphorylation in stomatal opening.
    • Plants expressing a mutant proton pump lacking Thr881 phosphorylation exhibited reduced stomatal aperture and transpiration rates, emphasizing the regulatory significance of this amino acid residue.
    • The study identified Thr881, along with Thr948, as crucial phosphorylation sites for the activation of the enzyme H+-ATPase, essential for stomatal opening.
    • Manipulating Thr881 could offer avenues for promoting plant growth, enhancing carbon dioxide absorption, and reducing fertilizer usage.

    PYQ:

    2014: Which one of the following is the process involved in photosynthesis?

    a)    Potential energy is released to form free energy

    b)    Free energy is converted into potential energy and stored

    c)    Food is oxidized to release carbon dioxide and water

    d)    Oxygen is taken, and carbon dioxide and water vapour are given out

     

    Practice MCQ:

    What is the significance of phosphorylation of the threonine residue (Thr881) in the context of plants?

    a)    It helps in reducing carbon dioxide uptake and photosynthesis efficiency.

    b)    It enhances photosynthesis in dark conditions.

    c)    It reduces transpiration leading to enhanced water conservation.

    d)    It is essential for regulating stomatal aperture and facilitating gas exchange in plants.

  • T + 0 Settlement System kick starts today

    Why in the news?

    India’s stock market will begin the with a ‘beta version’ of T+0 settlement system (same day settlement) from today. This is the world’s fastest stock settlement system.

    About T+0 Settlement Cycle

    • SEBI has planned to introduce the shorter cycle in two phases:
    1. T+0 Settlement Details: In Phase 1, trades executed until 1:30 PM will be settled by 4:30 PM on the same day.
    2. Instant Settlement Mechanics: Phase 2 envisages immediate trade-by-trade settlement, with trading continuing until 3:30 PM.

    Features of the T+0 Settlement Mechanism

    • Early Pay-In Trend: A large percentage of retail investors already make early pay-ins of funds and securities, indicating readiness for instant settlement.
    • Instant Receipt Benefits: The mechanism enables instant receipt of funds and securities, reducing settlement shortages and enhancing investor control.
    • Investor Protection: Direct crediting of funds and securities into investors’ accounts, especially for UPI clients, strengthens investor protection.

    Settlement Cycle: A Quick History  

     

    • SEBI shortened the settlement cycle from T+5 to T+3 in 2002, and then to T+2 in 2003.
    • The T+1 cycle was introduced in 2021 and fully implemented by January 2023.
    • In T+1, the settlement of funds and securities occurs on the next day after the trade.

    Scope and Implementation of T+0

    • Initially, the T+0 settlement will be available for the top 500 listed equity shares based on market capitalization, implemented in three tranches.
    • The same surveillance measures applicable in the T+1 cycle will apply to the T+0 cycle.
    • Trade-for-trade settlement securities will NOT be eligible for T+0.

    Rationale behind T+O Cycle

    • Market Growth and Efficiency: With the significant growth in market volumes and participants, SEBI aims to enhance market efficiency and safety, especially for retail investors.
    • Technological Advancements: The evolution of payment systems like UPI and the sophistication of market infrastructure support the feasibility of shorter settlement cycles.
    • Investor Attraction: Faster transactions, reliability, and low costs are key factors that attract investors, making Indian securities a more appealing asset class.

    Benefits of the New Mechanism

    • Flexibility for Clients: The new mechanism offers faster payouts of funds to sellers and securities to buyers, providing greater flexibility and control.
    • Market Ecosystem Advantages: The faster settlement cycle is expected to enhance the operational efficiency of the securities market, benefiting the entire ecosystem.

     

    PYQ:

    2017: The term ‘Digital Single Market Strategy’ seen in the news refers to

    a)    ASEAN

    b)    BRICS

    c)    EU

    d)    G20

     

    Practice MCQ:

    With reference to the T+0 Settlement Cycle, consider the following statements:

    1.    Trades executed until 1:30 PM will be settled by 4:30 PM on the same day.

    2.    Trade-for-trade settlement securities will also be eligible for T+0.

    Which of the given statements is/are correct?

    a)    Only 1

    b)    Only 2

    c)    Both 1 and 2

    d)    Neither 1 nor 2

  • Solar and Heliospheric Observatory (SOHO) discovers 5000th Comet

    Why in the news?

    A Czech citizen has spotted a comet in an image from the Solar and Heliospheric Observatory (SOHO) spacecraft, which has now been confirmed to be the 5,000th comet discovered using SOHO data.

    Solar and Heliospheric Observatory (SOHO)

    • The SOHO is a spacecraft jointly operated by the European Space Agency (ESA) and NASA.
    • Launched in December 1995, its primary mission is to study the Sun, particularly its outer atmosphere, known as the corona, and the solar wind.
    • SOHO observes the Sun in various wavelengths of light, enabling scientists to study phenomena such as sunspots, solar flares, and coronal mass ejections.
    • SOHO orbits the Sun at Lagrange Point L1, about 1.5 million kilometers (nearly 1 million miles) from Earth, providing an uninterrupted view of the Sun.
    • Its observations have led to discoveries such as-
    1. Identifying the source regions of solar wind,
    2. Tracking solar eruptions, and
    3. Monitoring changes in the Sun’s activity over its 11-year solar cycle.

     

    What are Lagrange Points?

    • Lagrange Points are named after the French mathematician Joseph-Louis Lagrange who discovered them in 1772.
    • They are specific points in space where the gravitational forces of two large bodies, such as the Earth and the Sun, or the Earth and the Moon, balance the centrifugal force felt by a smaller body.
    • These points are stable locations where objects can maintain their relative positions concerning the larger bodies, without drifting away or falling towards them.

    There are five Lagrange Points, denoted as L1, L2, L3, L4, and L5:

    1. L1: Located on the line connecting the two large bodies and closer to the smaller body, L1 is particularly useful for space observatories like the Solar and Heliospheric Observatory (SOHO) because it provides an unobstructed view of the Sun from Earth’s perspective.
    2. L2: Situated on the opposite side of the smaller body from the larger one, L2 is an excellent location for deep space observatories such as the James Webb Space Telescope (JWST) because it remains relatively shielded from solar interference.
    3. L3: Located on the line connecting the two large bodies but on the opposite side of the larger body from the smaller one, L3 is less stable and less frequently used than the other Lagrange Points.
    4. L4 and L5: These points form equilateral triangles with the two large bodies, with the smaller body at the third vertex. L4 precedes the smaller body in its orbit, while L5 follows it. These points are stable and have been found to accumulate natural objects, such as asteroids, known as Trojan asteroids.

     

    PYQ:

    2013: Consider the following phenomena:

    1. Size of the sun at dusk

    2. Colure of the sun at dawn

    3. Moon being visible at dawn

    4. Twinkle of stars in the sky

    5. Polestar being visible in the sky

    Which of the above are optical illusions?

    a)    1, 2 and 3

    b)    3, 4 and 5

    c)    1, 2 and 4

    d)    2, 3 and 5

     

    Practice MCQ:

    Regarding the Solar and Heliospheric Observatory (SOHO), consider the following statement:

    1.    SOHO spacecraft was launched in December 1995.

    2.    It is jointly operated by the European Space Agency (ESA) and NASA.

    3.    It orbits the Earth in sun-synchronous orbit.

    How many of the above statements is/are correct?

    a)    One

    b)    Two

    c)    Three

    d)    None

  • On Sustainable Building Materials | Explained

    Why in the News? 

    Recently, post COVID-19, India is experiencing a sudden increase in construction. Although expansion offers economic prospects and enhanced living conditions, yet it also presents notable environmental hurdles.

    The Major Environmental Concerns Due to the Construction Sector:

    • The cement sector is a hard-to-abate sector in terms of greenhouse gas emissions, but it is an equally critical contributor to the economic development of the country.
    • India is the second largest producer of cement in the world and plans to almost double its production by 2030. It accounts for over 33% of India’s electricity usage, contributing to environmental degradation and climate change.
    • Globally, about 37% of global greenhouse gas emissions can be traced back to the built environment sector, which includes buildings, the distribution systems that supply water and electricity, and the roads, bridges, and transportation systems.
    • The UNEP report makes a case for “Avoid-Shift-Improve” strategies to reduce emissions.

    Government Initiatives to make the Construction Sector become energy efficient:

    • The India Cooling Action Plan: It forecasts an eight-fold increase in cooling demand between 2017 and 2037, emphasizing the need for thermal comfort while reducing active cooling demand. Reducing cooling demand by 20-25% and refrigeration demand by 25-30% by the year 2037 are the goals of this plan.
    • Eco-Niwas Samhita (ENS): Initiatives like the Eco-Niwas Samhita (ENS) and Residential Energy Conservation Building Code are crucial steps towards improving energy efficiency in residential buildings.
    • Residential Envelope Transmittance Value (RETV): Introducing metrics such as the Residential Envelope Transmittance Value (RETV) play a significant role in measuring heat transfer through a building’s envelope, thereby enabling better energy efficiency. Lower RETV values are associated with cooler indoor environments and reduced energy consumption. The recommended RETV of 15W/m2 or less promotes optimal efficiency, improved occupant comfort, and lower utility expenses.

     

    Materials used in the Construction sector

    • Popular Building Materials: Autoclaved Aerated Concrete (AAC) blocks, red bricks, fly ash, and monolithic concrete (Mivan) are commonly used materials in construction.
    • Preference for Monolithic Concrete: Despite sustainability concerns, monolithic concrete construction is favored by developers for its speed, strength, quality, and scalability, particularly in high-rise buildings and skyscrapers.
    • AAC Blocks as Thermally Efficient: RETV evaluation shows AAC blocks consistently have the lowest RETV across all climatic conditions, indicating their potential as a thermally efficient material.
    • Embodied Energy Differences: The literature review reveals substantial differences in embodied energy among materials, with monolithic concrete having an embodied energy 75 times greater than AAC blocks.
    • Sustainability Concerns: Sustainability concerns are prominent across all materials. Red bricks contribute to resource depletion, emissions, and waste, while AAC blocks and monolithic concrete also have environmental impacts

    Measures to improve sustainable material

    • Adopt “Avoid-Shift-Improve”: Implement policies and regulations that incentivize the use of sustainable building materials and practices, such as tax incentives, subsidies, and green building certifications.
    • Investing in R&D: Allocate resources for research and development initiatives aimed at creating new, sustainable building materials with improved thermal performance, reduced embodied carbon, and enhanced climate resilience.
    • Promote Market Collaborations: Foster partnerships between academia, government agencies, and industry stakeholders,  in sustainable construction practices and materials development.
    • Awareness: Create consumer awareness campaigns to highlight the benefits of sustainable construction and encourage demand for eco-friendly building materials, driving market demand and adoption.

    Conclusion: India’s construction boom poses environmental challenges. Initiatives like Eco-Niwas Samhita improve energy efficiency. AAC blocks show promise for thermal efficiency. Future steps include R&D, industry collaboration, policy support, and fostering market demand for sustainable materials.

    Mains PYQ

    Q) Adoption of PPP model for infrastructure development of the country has not been free of criticism. Critically discuss the pros and cons of the model. (UPSC IAS/2013)

    Q) Smart cities in India cannot sustain without smart vilages. Discuss this statement in the backdrop of rural urban integration. (UPSC IAS/2015)

  • Drop in FDI inflows mirrors Global Trends: Finmin 

    Why in the News?

    India’s net Foreign Direct Investment (FDI) inflows have dropped almost 31% to $25.5 billion over the first ten months of 2023-24 as per the Finance Ministry

    Recent key Observations related to FDI inflow as per the Finance Ministry

    Recent FDI in the context of India:

    • From April 2023 to January 2024, the net inflows decreased more significantly due to increased repatriation of investment.
    • India remains one of the top destinations for global greenfield projects, with a stable number of new project announcements.
    • The country received significant FDI in sectors like services, pharmaceuticals, construction, and non-conventional energy.
    • The Netherlands, Singapore, Japan, the USA, and Mauritius contribute around 70% of total FDI equity inflows into India.
    • There’s a possibility of a modest increase in global FDI flows in the current year, driven by a decline in inflation and borrowing costs in major markets. However, significant risks remain, including geopolitical issues, high debt levels in many countries, and concerns about further economic fracturing.

    Recent FDI scenario in the context of the world:

    • Overall, global FDI flows rose by 3% to an estimated $1.4 trillion in 2023 due to economic uncertainty and higher interest rates led to a 9% fall in FDI flows to developing countries.
    • Drivers of Global FDI: Capital-intensive projects, particularly in renewable energy, batteries, and metals sectors, drove a large proportion of global FDI in 2023, highlighting the importance of energy transition.
    • Decline in International Investment Projects: Both greenfield projects and project finance (mainly infrastructure) and cross-border Mergers and Acquisitions (M&As) saw declines in 2023, attributed to higher financing costs. International project finance and M&A activity decreased by 21% and 16%, respectively.

      What is Foreign direct investment (FDI)?

      Foreign direct investment (FDI) is a category of cross-border investment in which an investor resident in one economy establishes a lasting interest in and a significant degree of influence over an enterprise resident in another economy.

      Government Bodies regulating FDI:

      India offers an automatic route for FDI in several sectors, simplifying the investment process for foreign investors in India. However, certain sectors require government approval, and reporting requirements, in line with the Foreign Exchange Management Act (FEMA), are in place to ensure transparency in foreign investments in India. FDI in India is subject to regulation and oversight by various government bodies, such as:

      • Department for Promotion of Industry and Internal Trade (DPIIT): DPIIT formulates and implements policies to promote and regulate foreign investment in India across sectors.
      • Reserve Bank of India (RBI): RBI manages the monetary aspects of foreign investments in India.
      • Securities and Exchange Board of India (SEBI): SEBI regulates FDI in the capital market.

      Conclusion:  India remains a top destination for greenfield projects, but international investment projects declined due to higher financing costs. This is indeed a silver lining for the Indian government to plan and execute for targeting more FDI inflow considering the Global scenario.

     

    Practice Question for mains

    Q- Explain the reasons for India’s decline in net FDI inflows in 2023-24 and analyze its implications amid global trends

  • 50,000-year-old Magnetic Fossils found in Bay of Bengal

    What is the news?

    Scientists from the CSIR-National Institute of Oceanography, Goa have found in the Bay of Bengal a 50,000-year-old sediment containing giant magnetofossils, shedding light on ancient geological conditions.

    What are Magnetofossils?

    • Magnetofossils are fossilized magnetic particles created by magnetotactic bacteria, aiding scientists in understanding past environmental conditions.
    • Described initially in the 1960s and 1970s, magnetotactic bacteria utilize iron-rich minerals to navigate the Earth’s magnetic field, leaving behind distinctive fossil remnants.
    • These unique creatures were first described in 1963, by Salvatore Bellini, an Italian doctor and then again in 1975 by Richard Blakemore of the Woods Hole Oceanographic Institution, Woods Hole, Massachusetts.
    • These organisms were believed to follow the magnetic field to reach places that had optimal oxygen concentration.
    • Using an electron microscope, Blakemore found the bacteria contained “novel structured particles, rich in iron” in small sacs that essentially worked as a compass.
    • These magnetotactic bacteria create tiny crystals made of the iron-rich minerals magnetite or greigite, aiding them in navigating changing oxygen levels in the water body they reside in.

    Special Attributes of Bay of Bengal Sediment

    • Previous studies on magnetofossils often ascertained their origins to be hyperthermal vents, comet impacts, changes in oceanic ventilation, weathering or the presence of oxygen-poor regions.
    • Sediments deposited at the core site originate from the Godavari, Krishna, and Penner Rivers, highlighted on the map.

    Findings of the Study

    • Scientific Approach: In the study, combined magnetic analyses and electron microscopy to study the sediment sample.
    • Sediment Characteristics: The three-metre-long sediment core from the southwestern Bay of Bengal consisted mainly of “pale green silty clays,” they wrote in their paper. They also reported finding abundant benthic and planktic foraminifera — single-celled organisms with shells found near the sea bed and free-floating in water.
    • Microscopic Revelations: High-resolution transmission electron microscopy revealed the fossil to be in the shape of needles, spindles, bullets, and spearheads.
    • Environmental Insights: Earlier, studies of sediments suggested that nearly 29,000 to 11,700 years ago, during the last Glacial Maximum-Holocene period, the northeast and southwest monsoon strengthened and resulted in significant weathering and sedimentation.

     

    PYQ:

    Consider the following kinds of organisms:

    1. Copepods
    2. Cyanobacteria
    3. Diatoms
    4. Foraminifera

    Which of the above are primary producers in the food chains of oceans?

    1. 1 and 2
    2. 2 and 3
    3. 3 and 4
    4. 1 and 4

    Practice MCQ:

    Which of the following statements is correct about the ‘Magnetofossils’?

    1. They are fossilized magnetic particles created by magnetotactic bacteria.
    2. They follow the magnetic field to reach places that have optimal oxygen concentration.
    3. They are tiny crystals made of the iron-rich minerals magnetite or greigite.
    4. All of these.