India to add 14 lakh IT jobs in new-age technologies by 2027: Study
November 15, 2018

India will generate over14 lakh new IT jobs by 2027 driven by demand for a skilled workforce in emerging technologies such as cyber security, Internet of things (IoT) and Big Data, as per a Cisco-led study that released on November 15, 2018.

The global networking giant Cisco had commissioned International Data Corporation (IDC) to conduct the study.

The Study: Key Findings

According to the study, jobs like social media administrator, Machine Learning (ML) designer and IoT designer will be the most in-demand job roles in the country in the coming years.

The study showed that nearly 89 per cent of the hiring managers reported a higher level of trust on candidates having certifications, while 88 per cent of customers experienced an improvement in the level of service and support to end users.

It revealed that nearly a fifth of employees self-funded their certification courses while about 50 per cent of them underwent some training in 2017.

The study also revealed that as skill sets required in the digital age change for most industries, it is also transforming how and where people work.

As a result, IT organisations might find it difficult to fill the niche roles that call for upskilling the employee skill sets through certification programmes.

Background

A Nasscom report in July highlighted the fact that nearly 1.4 lakh jobs are vacant in the Artificial Intelligence (AI) and Big Data Analytics segment across various sectors in the country, out of the total demand of 5.1 lakh employees.

The report revealed that of the total demand, only 3.7 lakh jobs are filled.

By 2021, the employee deficit would increase to 2.3 lakh, as the total demand goes up to around 8 lakh employees, as per the report.



33rd ASEAN Summit, 13th East Asia Summit and 2nd RCEP Summit: Major Highlights
November 15, 2018

The 33rd edition of the ASEAN Summit concluded on November 15, 2018 at Suntec Singapore Convention Centre, Singapore. The Summit began on November 13, 2018.

The opening ceremony of the summit was addressed by Lee Hsien Loong, Prime Minister of Singapore, Chairman of this year’s Summit. In his speech, Lee Hsien Loong called on ASEAN members and partners to uphold multilateralism and international cooperation and tackle common challenges including terrorism and climate change.



The Summit saw the presence of leaders of partner countries such as Russian President Vladimir Putin, Canadian Prime Minister Justin Trudeau, Indian President Narendra Modi and Japan’s Prime Minister Shinzo Abe.

However, the US President Donald Trump and Chinese President Xi Jinping were not in attendance. The Vice President Mike Pence represented the US, while the Chinese side was represented by Premier Li Keqiang.

The Summit also saw the holding of other related summits like East Asia Summit (EAS), Regional Comprehensive Economic Summit, (RCEP) and ASEAN plus summits.

Key Highlights

The leaders of ASEAN's 10 member countries reviewed ASEAN's achievements in the year 2018 while mapping out a new course for the year ahead.

Over 400 companies from over 100 countries took part as exhibitors in the summit.

Apart from leaders of all 10 Association of Southeast Asian Nations (ASEAN) countries, heads of 8 key partner nations of ASEAN also participated.

The ASEAN leaders adopted the ASEAN Smart Cities Framework and took stock of ASEAN’s achievements in 2018 in strengthening ASEAN’s resilience and innovation.

The ASEAN leaders, along with their counterparts from countries participating in the Regional Comprehensive Economic Partnership (RCEP), discussed the process of the RCEP negotiations at the 2nd RCEP Summit.

The leaders also exchanged views on regional and international issues with their counterparts at the 21st ASEAN Plus Three Summit and 13th East Asia Summit.

Singapore PM Lee handed over the ASEAN Chairmanship to Thailand’s Prime Minister Prayut Chan-o-cha.

PM Narendra Modi attended East Asia Summit, ASEAN-India Summit and Fintech Conference

Prime Minister Narendra Modi attended the 13th East Asia Summit and ASEAN-India Summit on November 14-15 in Singapore. PM Modi also attended a dinner hosted by Prime Minister of Singapore, Lee Hsien Loong.

On the sidelines of the 2nd RCEP Summit, East Asia Summit, and ASEAN Summit, PM Modi held bilateral talks with global leaders namely, US Vice President Mike Pence; Australian PM Scott Morrison; Singapore Prime Minister Lee Hsien Loong; and Thailand PM General Prayut Chan-o-cha.

ASEAN-India Informal Breakfast Summit

The Prime Minister held interaction with ASEAN leaders at the ASEAN-India Informal Breakfast Summit. During the Summit, all the leaders reaffirmed cooperation in maritime domain and centrality of trade and investment towards prosperity of Indo-Pacific region.

PM Modi attended 13th East Asia Summit

Prime Minister Narendra Modi attended the plenary session of 13th East Asia Summit (EAS). Leaders of 18 countries of Asia Pacific region of 10 ASEAN countries including India, US, Russia, Australia, South Korea and China discussed the ways to deepen the links and combat the common challenges.

PM Modi attended 2nd RCEP Summit

PM Modi attended the second RCEP Summit in Singapore with 16 member states. Prime Minister Modi highlighted the need for an early conclusion of the Regional Comprehensive Economic Partnership (RCEP) agreement through multilateral and bilateral talks among the member countries.

PM Modi addressed Fintech Conference

PM Modi also addressed the audience during the Fintech Conference along with the IMF Managing Director Christine Lagarde. He became the first head of government to deliver the keynote speech at the Singapore Fintech Festival.

He launched APIX, a banking technology designed to reach two billion people without bank accounts worldwide. Fintech Conference is a part of Fintech festival which began on November 12, 2018.

India-Singapore Hackathon

PM Narendra Modi met and felicitated the winning teams of India-Singapore Hackathon. The NTU in Singapore and AICTE in India conducted the hackathon that included solving 8 problem statements

2nd RCEP Summit & 7th RCEP Inter-Sessional Ministerial Meeting concluded in Singapore

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The Heads of participating countries of Regional Comprehensive Economic Partnership (RCEP) along with the ASEAN Members and ASEAN’s Free Trade Agreement (FTA) partners Australia, China, India, Japan, Korea, and New Zealand attended the 2nd RCEP Summit on November 14, 2018 in Singapore.
* The leaders reaffirmed their commitment made at the launch of the RCEP negotiations to achieve a modern, comprehensive, high-quality and mutually beneficial economic partnership agreement, establishing an open trade and investment environment in the region.
*They undertook the collective commitment to deliver on the expeditious conclusion of the RCEP negotiations to foster an open, inclusive, and rules-based trading system.
* The leaders welcomed the conclusion of 7 Chapters, namely the Chapters on Economic and Technical Cooperation, SMEs, Customs and Trade, Government Procurement, Institutional Provisions, Sanitary and Phytosanitary Measures, and Technical Regulations and Conformity Assessment Procedures.
* They reiterated the value of continued engagement with various stakeholders of the RCEP, including representatives from the business sector, NGOs and other stakeholders.

7th RCEP Inter-Sessional Ministerial Meeting

The Union Minister for Commerce & Industry and Civil Aviation, Suresh Prabhu led the Indian delegation to the 7th RCEP Inter-Sessional Ministerial Meeting in Singapore on November 12-13, 2018. The Meeting was chaired by the Minister for Trade and Industry of Singapore, Chan Chun Sing.

The Ministerial Meeting was held in preparation for the 2nd RCEP Leaders Summit in which Prime Minister Narendra Modi participated.

Regional Comprehensive Economic Partnership

The Regional Comprehensive Economic Partnership (RCEP) is a mega regional free trade agreement being negotiated amongst 16 countries, comprising 10 ASEAN countries (Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, Philippines, Singapore, Thailand and Vietnam) plus six ASEAN FTA partners, namely Australia, China, India, Japan, Korea and New Zealand.

So far 6 Ministerial Meetings, 7 Inter-Sessional Ministerial Meetings and 24 rounds of the Trade Negotiating Committee at the technical level have been held.


Union Agriculture Ministry launches NCDC’s 'Yuva Sahakar Scheme' to promote young entrepreneurs
November 15, 2018

Union Minister of Agriculture and Farmers’ Welfare, Radha Mohan Singh on November 14, 2018 launched the ‘Yuva Sahakar-Cooperative Enterprise Support and Innovation Scheme’ of the National Cooperative Development Corporation (NCDC).

The NCDC has come up with this youth-friendly scheme for attracting youth to cooperative business ventures. It has created a dedicated fund with liberal features enabling youth to avail the scheme.

Yuva Sahakar-Cooperative Enterprise Support and Innovation Scheme

• The scheme will be linked to Rs 1000 crore ‘Cooperative Start-up and Innovation Fund (CSIF)’ created by the NCDC.

• It would have more incentives for cooperatives of North Eastern region, Aspirational Districts and cooperatives with women or SC or ST or PwD members.

• The funding for the project will be up to 80 percent of the project cost for these special categories against 70 percent for others.

• The scheme envisages 2 percent less than the applicable rate of interest on term loan for the project cost up to Rs 3 crore including 2 years moratorium on payment of principal.

• All types of cooperatives in operation for at least one year are eligible to avail of the scheme.

• It would encourage cooperatives to venture into new and innovative areas.

• The scheme is expected to meet the needs of youth.

National Cooperative Development Corporation

• The NCDC has the unique distinction of being the sole statutory organisation functioning as an apex financial and developmental institution exclusively devoted to cooperative sector.

• It supports cooperatives in diverse fields apart from agriculture and allied sectors.

• It is an ISO 9001:2015 compliant organisation and has a distinctive edge of competitive financing.

• It has extended financial assistance of Rs 63702.61 crore during 2014-2018 (as on November 13, 2018), which is 220 percent more than Rs 19850.6 during 2010-14.

• Being the most preferred financial institution in the world of cooperatives, it has also initiated Sahakar 22, a Mission for Doubling Farmers’ Income by 2022.




Regional meeting of World Customs Organisation being held in Jaipur
November 15, 2018

Four-day regional meeting of World Customs Organisation (WCO) was held in Jaipur, capital city of Rajasthan.  It was attended by representatives of 33 member countries of Asia. The meeting was jointly chaired by WCO Deputy Secretary General Ricardo Travino and Central Board of Indirect Taxes and Customs Chairman S Ramesh.

Key Facts

The meeting deliberated upon various issues including the steps required for the capacity building and reforms in customs. It also discussed and deliberated upon amended Kyoto protocol, digital customs, e-commerce among other issues. Summary of various efforts made by National Trade Facilitation Committee (NTFC) for trade facilitation was also tabled in the meeting.

World Customs Organisation (WCO)

WCO is independent intergovernmental body whose mission is to enhance effectiveness and efficiency of Customs administrations. It was established in 1952 as Customs Co-operation Council (CCC). It is the only international organization with competence in Customs matters and is considered as voice of international Customs community.

It represents 182 Customs administrations across the globe that collectively process approximately 98% of world trade. It is headquartered in Brussels, Belgium. It plays leading role in discussion, development, promotion and implementation of modern customs systems and procedures.

Objectives: It aims to enhance efficiency and effectiveness of member customs administrations and assist them to contribute successfully to national development goals, particularly revenue collection, national security, trade facilitation, community protection, and collection of trade statistics.

Organistaional Structure: WCO’s governing body – the Council relies on competence and skills of WCO Secretariat and a range of technical and advisory committees to accomplish its mission. The Secretariat comprises over 100 international officials, technical experts and support staff of some nationalities. WCO has divided its membership into six regions whereby each region is represented by elected vice-chairperson to WCO Council.

Functions: It offers range of Conventions and other international instruments, as well as technical assistance and training services to its members. It also actively supports its members in their endeavours to modernize and build capacity within their national Customs administrations.

It also plays vital role in stimulating growth of legitimate international trade and combats fraudulent activities. It also promotes emergence of honest, transparent and predictable Customs environment, thus directly contributing to economic and social well-being of its members.


 
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