India Qatar Growing Ties
- India’s External Affairs Minister met the top leaders of Qatar and discussed boosting the economic and defence cooperation between the two countries.
- India Consider Qatar as part of its extended neighbourhood and thus its significant to reach out to Qatar when it comes to India’s West Policy.
- Qatar also play prominent role in India’s Energy Security.
- Qatar is a member of the Gulf Cooperation Council.
Sectors of mutual interest include energy, petrochemicals, power, investments, infrastructure, development, project exports and education.
Bilateral trade was worth USD 10.95 billion in 2019-20.
India thanked Qatar for taking care of people from the Indian community during the Covid-19 pandemic.
India and Qatar have maintained close high-level contacts during the pandemic.
Qatar- India agreed on setting up a special task force to promote investments by the Qatar Investment Authority.
It’s a part of India’s outreach to key West Asian states to overcome the economic impact of the Covid-19 pandemic.
The two sides had discussions on institutionalising mechanism to promote and protect the rights of workers.
The other issues discussed were settling labour issues and promoting the movement of people between the two countries in a safe and secure manner.
- Qatar’s key exports to India fulfils India’s energy security and power needs that include LNG, LPG, petrochemicals chemicals, plastics, and aluminium artefacts.
- India’s key exports to Qatar fulfils Qatar’s Food security and Infrastructure needs that include cereals, copper articles, iron and steel articles, vegetables, plastic products, construction material, textiles & garments, etc.
- India provides a skilled and semi-skilled man force to Qatar in almost all fields.
Cooperation in the Field of Energy:
- Qatar is the largest supplier of liquefied natural gas (LNG) to India.
- India imports around 70% of its needs for the natural gas from Qatar.
Indian and Qatar Navy
Za’ir-Al-Bahr (Roar of the Sea) is the naval exercise between two countries.
- Indian community is the largest expatriate group in Qatar.
- India population in Qatar is estimated to be around 700 million people.
- They are making their contribution in different sectors.
- Indians are highly respected in Qatar for their hard work, sincerity technical expertise and law-abiding nature.
- Indians are employed in almost every local establishment, governmental/State or private firm, in various roles from highly skilled professionals to semi-skilled and manual labour construction workers.
- The remittances which the Indian community in Qatar send to India are estimated to be around 750 million dollar per annum.
India to Become 5th Largest Economy by 2025 as per Centre for Economics and Business Research (CBER) UK
A report prepared by the Centre for Economics and Business Research (CBER) has predicted that India will overtake the UK to become the fifth largest economy in 2025 and will further grow to reach the third spot by 2030.
- Centre for Economics and Business Research is a UK based company that gives crucial economic forecasts for public and private firms.
- This growth will lead India to become the world’s third largest economy by 2030, overtaking the UK in 2025, Germany in 2027 and Japan in 2030.
- China will overtake the USA in 2028 to become the world’s biggest economy, five years earlier than previously estimated.
India had overtaken the UK in 2019 to become the fifth largest economy in the world, however the year 2020 resulted in the net negative growth and thus has been downgraded to 6th spot in 2020.
- United States
- And the United Kingdom are the five economies ahead of India.
India’s economy had been performing low even before the shock delivered by the Covid-19 pandemic.
The Gross Domestic Product (GDP) growth sank to a decade (2009-2019) low of 4.2% in 2019.
- The factors responsible for marring the potential growth has been numerous and are of a confluence of factors including Growing NPA in the banking system, adaptation to reforms (Demonetisation, GST), a global trade crisis (demand/ supply in market) and growing protectionist trade policies of US and China are also at play.
- GDP in Q2 (April-June) 2020 was at exceptional low at around 24% to be exact at 23.9%below its 2019 level, revealing that nearly a quarter of the country’s economic (one-fourth) activity was wiped out.
- Drastic fall in global demand and the collapse of domestic demand that accompanied the series of national lockdowns.
- The majority of the Indian workforce employed in the agricultural sector estimated at 60% of Indian population, the reform process requires a dedicated and gradual approach that gives equal attention to the need for longer-term efficiency gains with the need to support incomes in the short-term.
- The lack of infrastructure that exist in India mean that investment in this sector has the potential to unlock significant productivity gains.
- Therefore, going forwards the outlook of the Indian economy will be closely related to the government’s policies and its implementation at grass root level.
Hemant Kumar Pandey Awarded with DRDO”s ”Scientist of the Year Award”
- Scientist Hemant Kumar Pandey has been awarded with DRDO’s ”Scientist of the Year Award”.
- The award comes to him for his research in developing several herbal medicines, the most prominent one is the popular drug Lukoskin used in treatment of leucoderma.
- Previously also, he has been recipient of several prestigious awards for his contribution in the field of herbal medicine.
- Pandey has been working at the Defence Research and Development Organisation’s (DRDO) lab Defence Institute of Bio-Energy Research (DIBER) at Pithoragarh in Uttarakhand for the past 25 years.
- His medicinal product has been launched into the market by trade name Lukoskin.
Pneumosil India’s Indigenous Vaccine for Pneumonia
The Serum Institute of India has developed the Pneumococcal Vaccine called as Pneumosil.
About the Vaccine
- Pneumosil was developed in collaboration with Bill and Melinda Gates Foundation and PATH organization.
- The vaccine has been approved by the Drugs Controller General of India.
- The price of Pneumosil is highly inexpensive.
- It is 2 USD per dose. Previously there has been no such indigenous vaccine in India and we had been using the foreign vaccine named Pneumonia Conjugate Vaccine. The Indian vaccine is 30% less than the PCV (Pneumonia Conjugate Vaccine) that is currently administered against Pneumonia in India.
- Pneumosil is a World Health Organisation qualified vaccine. This means that the vaccine can be procured by United Nations for use in Low Income Countries.
- Presently India is using the Pneumococcal Conjugate Vaccine (PCV) a foreign vaccine against Pneumonia.
- The PCV constitutes 50% of the budget allocated to the Universal Immunization Programme and thus the alternative came as an economic relief to policy makers.
- The programme includes twelve vaccines preventing mortality and morbidity in pregnant women and children.
- The programme is highly supported by funds from GAVI (Global Alliance for Vaccine Immunization).
- GAVI recently announced that it will withdraw its support to India as the country earmarked budget for allocated vaccination cost is reaching a threshold.
- Thus, Pneumosil vaccine developed by Serum Institute of India will bring in huge benefits in terms of economic and health benefits.
About the Disease:
- The bacteria is the most common cause of bloodstream infections, pneumonia, meningitis and middle ear infections in young children.
- Pneumonia is an infection of the lungs.
- Many different bacteria, viruses, and even fungi can cause pneumonia.
- Pneumococcus is one of the most common causes of severe pneumonia.
India accounts to 20% of pneumonia death in the world. Four African and Asian countries accounts for almost 50% of the world annual Pneumococcal child deaths. These countries include India, Nigeria, Democratic Republic of Congo and Pakistan.