The Hindu Editorial Analysis : 28th March 2024

The Hindu Editorial Analysis

The Importance of Reading The Hindu Editorial: Reading The Hindu newspaper has several benefits, including improving reading skills, facilitating comprehension, staying informed of current events, enhancing essay writing, and more. For individuals aiming for a career in banking, reading editorials is crucial for vocabulary building. In this article, we will examine today’s editorials, provide practice questions, and highlight important vocabulary words.

Investment facilitation for development (IFD) agreement-WTO

• The 13th Ministerial Conference of the World Trade Organization has been conducted in Abu Dhabi and one of the major issues highlighted during the meeting was about the Investment Facilitation Development agreement.
• The negotiations on the IFD agreement at WTO started in 2017 on the basis of a plurilateral agreement by around 70 countries, although India was not on the side of the agreement and opposed it.
• The negotiations on the IFD agreement were done through the joint settlement initiative process.
• After the negotiations, the IFD agreement was going to be finalized in November 2023.
• In today’s scenario, there are around 120 countries out of the 166 total member countries of WTO on the side of the IFD agreement to include it as a plurilateral agreement in the ambit of WTO.
• If we talk about the data, more than 70% WTO members support the IFD agreement.
• The plurilateral agreements are those agreements which bind only those who accept them and don’t interfere and imply rights to others who oppose them as well as do not impose obligations on those countries.
• India raised its concerns towards the IFD agreement as this agreement doesn’t include provisions of market access, investment protection and also of investor state dispute settlement.
• South Africa along with India played a crucial role to oppose the IFD agreement.
• India has two major concerns about the implications of IFD agreement, one is that investment can’t be a part of WTO ambit and second is about the process of IFD agreement as a part of WTO rulebook.
• Investment isn’t defined entirely as trade. It means there are the chances that investment could be the cross border trade or couldn’t.
• According to the Organization for Economic Cooperation and Development, global value chains are the medium of around 70% of international trades. The global value chains are characterized by investment and trade. So that it is clearly visible the investment and trade have shared a close relationship among them.
• Despite all of this, India can reconsider its approach towards the plurilateral agreements because soon it is going to be the world’s third largest economy.

Important Questions:

• What is the investment facilitation Development agreement?
• Why has India opposed the IFD agreement at WTO?

Important vocabs:

• Delving – reach inside a receptacle and search for something.
• Intricacies – the quality of being intricate.
• Semantic – relating to meaning in language or logic.
• Emanate– To produce or show something
• Athwart-side to side, contradictory
• Precursor -a forerunner

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