GUJARAT
Veteran author & Gujarati columnist Father Carlos Gonzalez Valles SJ passes away
Veteran author and Gujarati columnist of Father Carlos Gonzalez Valles SJ, popularly known
as Father Valles passed away.
A Jesuit priest born in Spain, he was a Mathematics teacher in Gujarat.
He wrote extensively in Gujarati, English and Spanish.
He translated many mathematical concepts into Gujarati and coined terms for them.
INTERNATIONAL
India -Nordic – Baltic Conclave
External Affairs Minister Dr S Jaishankar said that India will work with Nordic-Baltic countries
for a greener, smarter, digital and innovation-led future.
He was virtually addressing the first India -Nordic – Baltic Conclave.
The term "Nordic countries" is used unambiguously for Denmark, Norway, Sweden, Finland
and Iceland, including their associated territories (Svalbard, Greenland, the Faroe Islands
and the Åland Islands).
Baltics, is a geopolitical term, typically used to group the three sovereign states in Northern
Europe on the eastern coast of the Baltic Sea: Estonia, Latvia, and Lithuania.
WhatsApp Pay goes live on UPI
WhatsApp has finally launched services on the United Payments Interface (UPI) in a major
boost for the Facebook-owned app in its biggest market.
The National Payments Corporation of India (NPCI), India’s flagship payments processor,
permitted WhatsApp to go live on UPI.
WhatsApp can expand its UPI base in a graded manner starting with a maximum number of
registered users at 20 million, the NPCI said in a statement.
The NPCI runs the Unified Payments Interface (UPI) used for real-time payments between
peers or at merchants’ end while making purchases.
The UPI channel has rapidly grown to become India’s most favoured mode of digital
transactions since its launch in terms of volumes.
NATIONAL
Declaration of the Private Sector on Climate Change
Declaration on Climate Change signed by 24 key industry and Ministry of Environment,
Forest and Climate Change at the virtual India CEO Forum on Climate Change.
United Nations ecosystem and UNFCCC will note this initiative of India and its corporate
world to adhere to and declare plans of their carbon neutrality.
Key industries like TATA, Reliance, the Adani group, Mahindra, Sun Pharma, Dr Reddy's, etc.
listing various clean processes and initiatives they have taken and their agenda towards
further decarbonization post-2020.
The corporate sector espoused confidence and expressed their support towards a
coordinated response by the Government and private sector on climate change, which will
help protect the country's interests and ensure that India is on track towards meeting its
climate change obligations under the Paris Agreement.
The private sector plays a pivotal role in creating low-carbon sustainable economies and
has embarked on several voluntary actions on climate change to achieve India's NDC goals.
The private sector also benefitted from India's participation in the Clean Development
Mechanism of the Kyoto Protocol. Going forward, Article 6 of the Paris Agreement offers
further opportunities to meet climate change and sustainable development objectives.
India is a signatory to the Paris Agreement under the United Nations Framework
Convention on Climate Change.
As part of its Nationally Determined Contribution (NDC), India has three quantitative
climate change goals,
Reduction in the emissions intensity of Gross Domestic Product (GDP) by 33 to 35 per cent
by 2030 from 2005 level,
Achieving about 40 per cent cumulative electric power installed capacity from non-fossil
fuel-based energy resources by 2030
Creating an additional carbon sink of 2.5 to 3 billion tonnes of carbon dioxide equivalent
through additional forest and tree cover by 2030.
Purchasing Managers Index was released
According to the latest Purchasing Managers Index (PMI) data, India's manufacturing sector
activity improved for the third straight month in October. Companies raised their output to
the greatest extent in 13 years amid robust sales growth.
Purchasing Managers Index is an economic indicator that indicates the business activity and
economic health of both the manufacturing & service sectors.
Purchasing Managers' Index (PMI) of India is published by Japanese firm Nikkei. It is
compiled and constructed by IHS Markit which is a London–based global information
provider.
Index of Industrial Production (IIP) indicates the changes in production volume or output,
but the Purchasing Managers' Index is an investor sentiment tracking index and is more
dynamic.
Variables used for calculating are Output, New Orders, Employment, Input Costs, Output
Prices, Backlogs of Work, Export Orders, Quantity of Purchases, Suppliers' Delivery Times,
Stocks of Purchases and Stocks of Finished Goods.
PMI: While PMI >50 implies expanding business and economic activity, PMI <50 means
contraction.
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