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DAILY NEWS ANALYSIS

Monthly DNA

27 Aug, 2022

29 Min Read

The Competition (Amendment) Bill, 2022

GS-II : Important Bills Important Bills

The Competition (Amendment) Bill, 2022

The Competition Act, 2002 Amendment Bill was just ultimately introduced in the Lok Sabha.

Need to Bring these Amendments

  • New Age Market: Changes were required to maintain and foster market competition as the market's characteristics changed quickly as a result of technological breakthroughs, artificial intelligence, and the growing importance of factors other than price.
  • Issue of Acquisition: Section 5 of the act states that parties engaging in mergers, acquisitions, or amalgamations only need to inform the Competition Commission of India of a combination on the basis of assets or turnover.
  • Gun Jumping: This occurs when two or more parties to a merger or acquisition consummate a notified transaction before it is approved or have completed a reportable transaction without informing the Commission.
  • Hub-and-Spoke Cartels: A hub-and-spoke arrangement is a type of cartelization in which players with a vertical relationship operate as the spoke and impose horizontal limitations on suppliers or retailers.
  • Currently, only businesses in related industries that engage in anti-competitive behaviour are covered by the ban on anti-competitive agreements.
  • This disregards the hub-and-spoke cartels that suppliers and distributors operate at various levels of the vertical chain.
  • have either completed a reportable transaction without notifying the Commission or have done so before the approval

Proposed Amendments

  • Deal value Threshold: A deal value threshold is being added by the new bill.
  • The Commission must also be notified of any transaction with a deal worth greater than 2,000 crores and if either party has significant business operations in India.
  • Significant Business Activities: The Commission is required to create regulations that specify the criteria for determining whether a company has significant business operations in India.
  • It would improve the Commission's assessment process, especially in the digital and infrastructure sectors, where the majority of cases were not previously disclosed because the asset or turnover amounts fell below the legal requirements.
  • Exemption of Open Market Purchases: It is suggested to waive the need to notify the Commission ahead of time for open market purchases and stock market transactions.
  • Hub-and-Spoke Cartels: The amendment expands the definition of "anti-competitive agreements" to include organizations that aid in the formation of cartels even when they do not engage in similar business operations.
  • Settlements and Obligations: A framework for settlements and commitments in cases involving vertical agreements and abuse of dominance is proposed in the new amendment.
  • The parties may file an application for a commitment before the Director General (DG) submits the report, just like in the cases of vertical agreements and abuse of power.
  • After hearing from all parties involved in the case, the Commission's decision on commitment or settlement will no longer be subject to appeal.
  • Provision of Leniency Plus: It permits the commission to grant an additional waiver of penalties to a candidate who discloses the existence of a different cartel in an unrelated market, provided that the information allows the Commission to reach a preliminary conclusion about the existence of the cartel.
  • Director General Appointment: The Commission has more influence when a Director General is chosen by the Commission rather than the Central government.
  • It grants the Commission more authority.

Guidelines In relation to Penalties:

  • The Commission will create regulations outlining the severity of certain competitive infractions.
  • The party must pay 25% of the penalty sum in order for the National Company Law Tribunal (NCLT) to hear an appeal against the Commission's order.

Competition Commission of India

  • In order to administer, implement, and enforce the Competition Act, 2002, the Government of India established the Competition Commission of India (CCI) in March 2009. It focuses on three anti-competitive market issues in particular:
  • monopolistic agreements.
  • misuse of power.
  • Combinations

Objectives

  • Eliminate tactics that have a negative impact on competition.
  • sustain and encourage competition.
  • Keep consumers' interests in mind.
  • Ensure that trade is unrestricted in India's markets.
  • Create a strong competitive atmosphere by:
  • proactive interaction with all parties, such as customers, businesses, governments, and international organisations

Composition

  • One Chairperson and six Members of the Commission are chosen by the Central Government.
  • The commission is a quasi-judicial entity that deals with other issues as well as provide advice to statutory bodies.
  • All other Members, including the Chairperson, must be full-time members.

Way Forward

  • With the proposed adjustments, the Commission should be able to better control several facets of the New Age market and strengthen its functioning.
  • The suggested adjustments are unquestionably required, but they heavily rely on the regulations that the Commission later notifies.
  • The government must also acknowledge that because market dynamics are dynamic, legislation must be revised frequently.

Also, Read - Electronics manufacturing in India

Source: The Hindu

Getting India to Net Zero

GS-III : Biodiversity & Environment Climate Change

Getting India to Net Zero

In order to achieve its objective of net zero emissions by 2070, India will need to invest $10.1 trillion across its entire economy, according to a recent analysis.

About the report

  • The paper, titled "Getting India to Net Zero," was just made public in New Delhi.
  • Former Australian prime minister Kevin Rudd, who is also the president of the Asia Society Policy Institute, former UN secretary-general Ban Ki-moon, head of the International Finance Corporation and director of climate business Vivek Pathak, and former Indian foreign minister Shyam Saran all released the report.

Advantages of achieving the goal

  • According to the analysis, attaining net-zero emissions by 2070 would increase yearly GDP by up to 4.7% by 2036 and result in the creation of up to 15 million additional employment by 2047.
  • The goals of India's 2015 Nationally Determined Contribution (NDC) include:
  • According to the analysis, the targets are expected to be met early within the next few years thanks to present measures.
  • Emissions peak: According to the research, India's emissions peak might occur as early as 2030.

Reporting advice

  • The paper claims that additional policies, particularly those that support renewable energy and electrification, might make net zero feasible by the middle of the century.
  • In order to achieve net zero emissions by the middle of the century, it would be especially beneficial to stop producing new coal by 2023 and switch to unabated coal power by 2040.

Challenges

  • Failure of the developed countries: It is anticipated that the ongoing inability of the wealthy countries to keep their long-standing promises in the areas of finance and technology will make even the current changes extremely challenging.
  • Environmental shocks: Cropping patterns can alter, there can be floods, and agriculture must be made to be adaptable to these shocks.
  • Carbon budget globally: Global cumulative carbon dioxide emissions must be restricted at the global carbon budget in order to keep the rise in the average global temperature to that agreed upon in the Paris Agreement.
  • Arguments against setting a net-zero goal include:
  • Significant revenue loss for the poorer Indian states of Uttar Pradesh, Madhya Pradesh, West Bengal, Odisha, and Jharkhand.
  • Nearly 15% of the state budget for states like Chhattisgarh and Jharkhand comes from the mining industry.
  • Because western and southern India have stronger solar and wind resources, these states will miss out on new employment in the renewable sector.

Steps were taken by India to Achieve Net- Zero Emissions by 2070

India's Renewable Energy Goals:

  • Since being set at 175 GW by 2022 in Paris, India has steadily increased its renewable energy goals to 450 GW by 2030 at the UN Climate Summit, and now 500 GW by 2030 at COP26.
  • Along with the current aim of 40%, which has already been nearly attained, India has additionally stated the target of 50% installed non-fossil energy producing capacity by 2030.

NDC's objectives consist of EIGHT GOALS, which are listed as follows:

  • In order to counteract climate change, it is important to promote a sustainable, healthy way of life that is based on cultural norms and values of moderation and conservation.
  • One way to do this is through the "LIFE" movement, which stands for "Lifestyle for Environment."
  • India should choose, at a comparable degree of economic development, a path that is more environmentally friendly and cleaner than the one previously taken by others.
  • to achieve a 45% reduction in the GDP's emissions intensity from 2005 levels by 2030.
  • To achieve approximately 50% of the total installed capacity of electric power from non-fossil fuel sources by 2030, with the aid of technology transfer and affordable international financing, including from the Green Climate Fund (GCF).
  • To increase the amount of forest and tree cover by 2030, adding 2.5–3 billion tonnes of CO2 equivalent as a carbon sink.
  • To increase investments in climate-vulnerable sectors of development, such as agriculture, water resources, the Himalayan region, coastal regions, health, and emergency preparedness, in order to better adapt to climate change.
  • To raise local funding as well as new and extra monies from developed nations in order to carry out the aforementioned mitigation and adaptation measures in light of the available resources and the resource gap.
  • In order to accelerate the spread of cutting-edge climate technology in India and for cooperative collaborative R&D for such future technologies, it is necessary to build capacities and establish both a domestic framework and an international architecture.

Initiatives

  • To increase the amount of forest and tree cover by 2030, adding 2.5–3 billion tonnes of CO2 equivalent as a carbon sink.
  • India has launched one of the largest solar energy installation projects in the world in an effort to better adapt to climate change by increasing spending on development programs in sectors that are vulnerable to it.
  • Regardless of whether it reaches the 450 GW goal by 2030 or the 175 GW capacity target by 2022,
  • The India Cooling Action Plan (ICAP) will assist in addressing cooling needs and lowering cooling demand in the nation.
  • In order to tackle climate change, the National Mission for Enhanced Energy Efficiency (NMEEE) has been implemented by the Bureau of Energy Efficiency (BEE) and Energy Efficiency Services Limited (EESL).
  • Thousands of crores have been set aside in the Compensatory Afforestation Management and Planning Authority (CAMPA) Fund under the Compensatory Afforestation Fund Act, 2016, and it is hoped that they will be used soon to make up for deforestation and restore the green cover made up of native tree species.

Panchamrit approach:

  • The Panchamrit policy of Hon. PM Narendra Modi was revealed during the COP 26 conference in Glasgow on improved climate targets.
  • By 2030, India's capacity for non-fossil energy will expand to 500 GW.
  • By 2030, it will obtain half of its energy needs from renewable sources.
  • From now until 2030, it is anticipated that carbon emissions will be decreased by 1 billion tonnes overall.
  • Its economy's carbon intensity will be decreased to less than 45%.
  • By 2070, India will have reached its goal of net zero.
  • Along these lines, India has amended its Nationally Determined Contribution (NDC).

Meaning of Net Zero

  • Net Zero State, also known as carbon-neutrality, is the condition in which a nation's emissions are offset by the absorption and removal of greenhouse gases (GHGs) from the environment.

Natural processes and cutting-edge technologies like carbon capture and storage are used to do it.

Way ahead

  • The revamped framework will present a chance to improve India's manufacturing capacity and increase exports, along with many other government measures, such as tax breaks and incentives like the Production Linked Incentive scheme (for promoting manufacturing and adoption of renewable energy).
  • Overall, it will boost the number of green jobs in fields like renewable energy, clean energy industries, the automotive industry, the production of low-emission products like electric vehicles and extremely energy-efficient appliances, and cutting-edge technologies like green hydrogen.
  • India needs to lead the way in achieving both energy usage and climate targets.

Also Read - Seti River

Source: The Indian Express

F/A 18 Super Hornet Fighter Jets  

GS-III : S&T Defense system

F/A 18 Super Hornet Fighter Jets

Before India's first indigenous aircraft carrier (IAC) Vikrant is put into service, US aviation giant Boeing has suggested that the Indian Navy select the F/A 18 Super Hornet fighter plane.

Key Features of F/A 18

  • The F/A-18 Super Hornet Block III is the most cutting-edge, battle-tested, multi-role frontline naval fighter in the world, offering special and differentiating capabilities as well as full compatibility with Indian Navy carriers.
  • It is fully compliant with INS Vikramaditya and INS Vikrant aircraft carriers and was built and intended for carrier operations.
  • The Indian Navy's aircraft carriers will have lifts, a hangar, and a deck where the F/A-18 may operate.
  • It will advance the way manned and unmanned systems interact in a carrier environment.
  • By maintaining the optimum glide slope and approach speeds, the Super Hornet's Precision Landing Mode software is specifically created to save pilot workload while landing on the Vikramaditya ship of the Indian Navy.
  • It is independent of the carrier's optical landing system and has completely redundant systems.
  • Both the single-seater (E-Variant) and two-seater (F-Variant) versions of the F/A-18 Super Hornet are carrier compatible and capable of carrying out the complete spectrum of combat operations.
  • The two-seater is also an effective trainer aircraft, both carrier-borne and onshore.

IAC Vikrant

  • The first indigenously designed and built aircraft carrier for the Indian Navy, Vikrant is the largest warship ever constructed in India.
  • India is now part of a select group of countries with the capacity to design and construct these massive, powerful warships.
  • The Ministry of Ports, Shipping & Waterways' public sector shipyard, Cochin Shipyard Ltd. (CSL), designed it.
  • The fourth and last set of sea trials for the ship had been successfully completed.

Operation Capabilities

  • Its maximum design speed is 28 knots or 52 kilometres per hour, and its range is 7500 NM.
  • The ship will be able to fly 30 aircraft, including the Light Combat Aircraft (LCA), MH-60R Seahawk multi-role helicopters, Kamov-31 Air Early Warning Helicopters, MiG-29K fighter jets, and Advanced Light Helicopters (ALH) (LCA).
  • The IAC is outfitted with a ski-jump for launching aircraft and a pair of three "arrestor wires" for their recovery onboard, both of which are used in the new aircraft-operation mode known as Short Take-Off But Arrested Recovery (STOBAR).

Significance:

  • It will improve a Navy's ability to conduct air dominance operations far from home shores.
  • It is regarded as a "blue water" navy or a fleet that can convey a country's strength and power across the high seas.

Significance of Vikrant Building in India

  • Only five or six countries are now capable of producing an aircraft carrier, and India has now entered this exclusive group.
  • According to experts, India has proven it has the capability and independence to construct one of the most sophisticated and complex battleships in the world.
  • India has previously owned aircraft carriers, however, those were either British or Russian construction. As of right now, the Navy's only aircraft carrier, the 'INS Vikramaditya,' was once known as the Soviet-Russian cruiser 'Admiral Gorshkov.' It was commissioned in 2013.
  • The HMS Hercules and HMS Hermes, two British-built carriers, were initially known as India's first two carriers, the "INS Vikrant" and the "INS Viraat." The Navy commissioned these two warships in 1961 and 1987, respectively

Why will the new warship IAC-1 be named ‘INS Vikrant’?

  • The name "INS Vikrant" formerly belonged to India's beloved first aircraft carrier, which served for many years before being decommissioned in 1997 and was a great source of national pride.
  • The first "Vikrant," a 19,500-ton battleship of the Majestic class that India purchased from the UK in 1961, distinguished itself during the conflict with Pakistan.
  • The Navy praised the "proud and historic day for India as the reincarnated "Vikrant" sails for her maiden sea trials" as the IAC-1 began her first sea testing last year.
  • The Navy has been requesting permission to construct a third aircraft carrier for the nation since 2015, and if granted, it will become India's second indigenous aircraft carrier (IAC-2).
  • This projected carrier, dubbed "INS Vishal," is envisioned as a massive 65,000-ton ship that will be far larger than both IAC-1 and "INS Vikramaditya."

Also, Read - Getting India to Net Zero

Source: The Hindu

Seti River Nepal

GS-II : Bilateral Relations India and its neighborhood

Seti River

India is to develop two hydropower projects in Nepal, namely the West Seti Hydropower Project and the Seti River Hydropower Project.

About the Project

  • The MoU to establish the 1200 MW project was signed by Investment Board Nepal and National Hydro Power Corporation Ltd (India).
  • Benefits: Year-round power production is a result of the projects. India will receive power through its national grid, either for internal use or export.
  • Background: A joint venture to develop the project was established in 2017 by China Three Gorges International Corporation. In 2018, it withdrew from the project.
  • Other names for the Seti Gandaki River include Seti River and Seti Khola.
  • Western Nepal is home to the Seti River.
  • It comes from the glaciers around the twin peaks of Api and Nampa on the southern Himalayan range's slopes. The region is close to the intersection of the borders of China, Nepal, and India (Uttarakhand).
  • Finally, the river merges with the longest river in Nepal, the Karnali or Ghagra River.

Power projects between India and Nepal

  • An estimated 83,000 MW of electricity might be produced in Nepal.
  • India and Nepal began working together in 2013 when Satluj Jal Vidyut Nigam (SJVN) and GMR Energy were given the go-ahead to develop 900 MW projects in Nepal.
  • An earlier agreement between India and Nepal called for the construction of the 695-megawatt Arun IV hydroelectric power project on the Arun River in Nepal.

Also, Read - The Competition (Amendment) Bill, 2022

Source: The Business Standard

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