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News in Short

News in Short - 03-November-2021

SpaceX sets up subsidiary in India

Date: 03 November 2021 Tags: Miscellaneous
  • SpaceX's satellite broadband arm Starlink aims to start broadband services in India from December 2022, subject to permission from the government.
  • The company is charging a deposit of USD 99 or Rs 7,350 per customer and claims to deliver data speeds in the range of 50 to 150 megabit per second in beta stage.
  • The services of the company will compete with that of Reliance Jio, Bharti Airtel, Vodafone Idea in broadband and it will be a direct competitor to Bharti Group-backed OneWeb.

US senators introduce amendment supporting CAATSA waiver for India

Date: 03 November 2021 Tags: India & World
  • Three Republican Senators have introduced an amendment to the National Defense Authorization Act FY2022 to make it harder for the executive branch of the U.S. government to impose sanctions on members of the Quad for buying Russian arms.
  • The move comes as India is expected to take delivery of the S-400 Triumf missile defence system from Moscow, potentially attracting sanctions under U.S. domestic law , the Countering Americas Adversaries Through Sanctions Act (CAATSA) of 2017.
  • If the amendment goes through, this certification requirement will be in effect for ten years from the date of its passage.

October exports up by 5% in October

Date: 03 November 2021 Tags: Miscellaneous
  • India’s merchandise exports were $35.47 billion in October, 35.2% higher than the pre-pandemic level of 2019 and 42.3% above the same month in 2020.
  • On a month-on-month basis, October’s merchandise exports were almost 5% higher than September’s $33.8 billion figure.
  • Coal and gold imports more than doubled during October, rising by nearly 119% and 104%, respectively, from a year ago. Imports of vegetable oil also jumped almost 60% from October 2020.
  • The trade deficit for October more than doubled from a year ago to $19.9 billion but was lower than the record deficit of $22.6 billion in September 2021.

India commits to Net zero emissions by 2070

Date: 03 November 2021 Tags: Miscellaneous
  • India will reach carbon neutrality by 2070, Prime Minister Narendra Modi announced as part of a five-point action plan that included reducing emissions to 50% by 2030.
  • This is the first time India has committed to net-zero emissions, a target that is particularly hard for developing nations that need to balance commitment to economic growth.
  • India has the lowest per capita emissions of the world’s major economies -- emitting 5% of the total, despite accounting for 17% of the world’s population. In absolute terms, India is the fourth largest carbon emitter after China and the US.