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मुद्रा स्वैप?  • स्वैप व्यवस्था में, एक देश एक विदेशी केंद्रीय बैंक को डॉलर प्रदान करता है, जो उसी लेन देन के समय के बाजार के विनिमय दर के आधार पर अपनी मुद्रा में  बराबर धनराशि पहले देश को प्रदान करता है।  • पार्टियां भविष्य में निर्दिष्ट तिथि पर अपनी दो मुद्राओं की समान मात्राओं को वापस स्वैप करने के लिए सहमत होती हैं, जो कि अगले दिन या दो साल बाद  भी हो सकती हैं।इसमे पहली लेन-देन के समय की समान विनिमय दर का उपयोग किया जाता है।  श्रीलंका के मामले में, यह दो साल से अधिक है।  • लाभ:   •ये स्वैप ऑपरेशन कोई विनिमय दर या अन्य बाजार जोखिम नहीं उठाते हैं, क्योंकि लेन-देन की शर्तें पहले से निर्धारित होती हैं।  विनिमय दर जोखिम की अनुपस्थिति इस तरह की सुविधा का प्रमुख लाभ है।  • यह सुविधा  डॉलर पाने वाले देश को लचीलेपन प्रदान करती है  कि किसी भी समय इस भंडार का उपयोग भुगतान का संतुलन या अल्पकालिक तरलता का उचित स्तर बनाए रखने के लिए किया जा सके।

1. Iran and China are close to concluding a 25-year strategic partnership. 2. This has generated considerable apprehensions in India. 3. Iran also has decided to undertake the construction of the Chabahar-Zahedan railway line on its own because of delays by India. Iran-China 1. Iran is a key source of energy supplies and a significant component of the Belt and Road Initiative of China. 2. Iran is also a lucrative market for its project exports and manufactures. 3. But similar to Indian projects, other projects including China’s are delayed in Iran due to US sanctions. 3. Even, Chinese purchases of Iranian oil have decreased substantially. 4. The overall bilateral trade between Iran and China fell. 5. In 2016, an ambitious target of $600-billion trade in 10 years was announced but it has not taken off. 6. Despite this, Iran’s interest in the 25-year strategic partnership with China is to safeguard itself from getting isolated in the global arena by the US. 7. Also, Iran is cautious of i...

1.The pharmaceutical industry in India is third largest in the world, in terms of volume, behind China and Italy, and fourteenth largest in terms of value. 2.It has a strong network of drug companies and manufacturing units with a domestic turnover of Rs 1.4 lakh crore in 2019, with exports to more than 200 countries. 3.Despite a very strong base, due to low-profit margins and non-lucrative industry, domestic pharmaceutical companies have gradually stopped manufacturing APIs and started importing APIs 4.APIs was a cheaper option with increased profit margins on drugs. 5.With the availability of cheaper APIs from China, the pharmaceutical industry relies heavily on imports. The imports from China have been increasing steadily and now stand around 68%. TIFAC Report 1.A report was brought out recently by Technology Information Forecasting and Assessment Council (TIFAC), an autonomous organization under the Department of Science & Technology, Government of India. 2.To addre...

रोशनी नाडार-मल्होत्रा ने अपने पिता शिव नाडार की जगह एचसीएल की चेयरपर्सन के रूप में ली है। एचसीएल 9.9 बिलियन डॉलर की कंपनी है जिसकी स्थापना शिव नाडार ने 1976 में की थी। इसके बारे में: इसके साथ, वह एक सूचीबद्ध भारतीय आईटी सेवा कंपनी की पहली महिला चेयरपर्सन बन गई है। वह एचसीएल के संस्थापक शिव नाडार की एकमात्र संतान हैं। टीसीएस और इंफोसिस के बाद एचसीएल आज आईटी उद्योग में तीसरी सबसे बड़ी कंपनी है। शिव नाडार ने कैलकुलेटर और माइक्रोप्रोसेसर बनाने के लिए 44 साल पहले एचसीएल की स्थापना की थी।

How has China recovered? 1. While much of the global economies are impacted by the Covid-19, China’s GDP growth has recovered sharply. 2. This is a result of a bounceback in manufacturing output and a public spending boost. 3. China’s recovery points towards a V-shaped recovery – a sharp fall followed by an equally sharp recovery. 4. It has also effectively avoided a technical recession. Why is China’s recovery important? 1. The sharp recovery signals a major turnaround in the world’s second largest economy. 2. It also points to facts that a. The recovery in economic activity is directly linked to a country’s success in controlling the coronavirus spread b. The quality of policy support matters, even if the scale of spending is modest. 3. According to the IMF, China’s COVID-19 related support policies, amounted to just 2.5% of GDP, as compared to 11% for the US, over 20% for Japan, and 34% for Germany. 4. In China one-half of GDP is driven by consumption. 5. China focussed on maintaini...

1.  India expects Russia to be more involved in the Indo-Pacific and to look to its own interests in the region. 2. This will create a mutual basis for cooperation and dialogue. 3. Investments in Vietnam’s oil and gas sector is seen as one of the areas of cooperation as both India and Russia have planned to invest in this sector. 4. India also sees Russia as a very important Pacific power 5. Russia has an interest in the Indian Ocean and India has an interest in the Pacific Ocean. 6. As, Indo-Pacific is seen as a geographic continuum for cooperation and for certain principles, India wants Indo-Pacific region to be free and fair for everyone. 7. Russia views its engagement would create new divisions especially with respect to containment of China. 8. On the other hand, India neither views it as containment nor non-containment but as a positive construct that brings together countries on the basis of certain principles. South China sea 1. A stable Indo-Pacific assumes particular impo...

Global Supply Chains 1. The COVID 19 pandemic has disrupted the supply chains and countries are dependent on other countries for items of basic necessities including pharmaceuticals. 2. So, the nations should build supply chains inside the country. Where does it make an impact? 1. China has monopolized the world trade as more than 9 lakh companies are operating in China. So, during the pandemic i. The supply disrupted as manufacturing process stopped in China. ii. This has led to shortage of medicines, manufacturing, Infrastructure etc. across the world. 2. Every country would now move towards the protectionism, atleast in essential commodities like medicines, infrastructure etc. 3. As per WTO, global trade for 2020 will see a downfall ranging from 13% - 32%. 4. IMF has forecasted 3% economic slowdown that will surely jeopardize economic activities of many countries. 5. Idea of realigning towards self-sufficiency would be prioritized by the g...