17th ASEAN-India Economic Ministers’ Consultations

Why in NEWS?

• The 17th ASEAN-India Economic Ministers Consultations held virtually on 29th August 2020, co-chaired by Minister of Commerce and Industry & Railways, Shri Piyush Goyal and Vietnamese Minister of Industry and Trade, H.E. Tran Tuan Anh.

About

• The meeting was attended by the commerce ministers of the 10 ASEAN countries.
• This included Malaysia, Thailand, Laos, Vietnam, Indonesia, Singapore, Brunei, Myanmar, Cambodia and Philippines.
• The leaders at the meet reaffirmed their commitment in the following-

1. To ensure financial stability
2. Resilient supply chain
3. Unimpeded flow of essential goods and medicines

• The ASEAN-India Business Council report was submitted during the meeting.
• The report had recommended to review the AITIGA.
• AITIGA is ASEAN India Trade in Goods Agreement.

AITIGA

• The AITIGA is a free trade agreement between the 10 ASEAN members and India.
• It was signed in 2010.
• According to the agreement, two trading partners set timelines for eliminating duties on the maximum number of goods traded between the two regions.
• Based on preliminary ASEAN data, two-way goods trade with India grew by 9.8 percent from $73.6 billion in 2017 to $80.8 billion in 2018.

Need of Review

• Since the agreement was implemented India’s trade deficit has increased. Thus, India is demanding for a review.
• According to NITI Aayog, the trade deficit between India and ASEAN has doubled between 2011 and 2017. It was 5 billion USD in 2011 and increased to 10 billion USD in 2017.
• The main reason for the growing trade deficit is the low utilization of the FTA route by the Indian traders.

Mission Gaganyaan

Why in NEWS?

• India, France in discussion for Mission Alpha-like equipment for Gaganyaan astronauts.

About

• Space agencies of India and France are in an advanced stage of discussions for providing necessary equipment to ‘Gaganyaan’ astronauts, similar to the one to be used by French astronaut for Mission Alpha next year.
• A senior official of the National Centre for Space Studies (CNES), the space agency of France, said work on the equipment for Mission Alpha is on.
• French astronaut Thomas Pesquet, as part of the European Space Agency (ESA), will be returning to the International Space Station (ISS) while flying on Crew Dragon spacecraft early next year.

Mission Gaganyan

• Gaganyaan is the human space flight programme under which Indian astronauts will go into space by 2022. This will be done by using its own capabilities.
• A GSLV-Mk III launch vehicle will lift them to their orbit, which has the necessary payload capability to launch a three-member crew module in low earth orbit.
• If successful, India would become the fourth nation to conduct a human space flight programme after USSR/Russia, USA and China. It is a ₹10,000-crore Indian human space flight scheduled for 2022.
• India has signed agreements with Russia and France for cooperation on the Gaganyaan mission.
• DRDO signed MoUs with ISRO to offer technologies for the mission, including space food, survival kits for crew, radiation protection equipment and parachutes.

Objectives of the Mission

1. Enhancement of science and technology levels in the country
2. A national project involving several institutes, academia and industry
3. Improvement of industrial growth
4. Inspiring youth
5. Development of technology for social benefits
6. Improving international collaboration