23 June 2023

• Diplomacy: PM Modi was hosted at a luncheon by US Vice President Kamala Harris and Secretary of State Antony Blinken, capping the formal White House engagement.
• Defence: ODOP (One District One Product) sampark event in Nagaland showcased Indian products in EU and Swiss markets.
• Fisheries: PM Matsya Sampada Yojana entered its fourth year with 14,654 crore rupees in approved projects.
• Payments: UPI transactions reached a cumulative value of 14.89 lakh crore rupees in May 2023, up from 33,288 crore rupees in May 2018.

GS area: International Relations

PM Modi's engagement on 23 June included a luncheon hosted by Vice President Kamala Harris and Secretary of State Antony Blinken.

• VP Harris's significance: As the first female, first Black, and first South Asian Vice President of the United States, Harris has a particular symbolism in India-US people-to-people ties. She is of Tamil Nadu origin on her mother's side.
• India as a net security provider: The state visit framing positioned India as a net provider of security in the Indo-Pacific, not merely a beneficiary of US security guarantees.
• iCET: The Initiative on Critical and Emerging Technologies, launched in 2022, was the institutional vehicle for semiconductor, AI, quantum, and defence technology cooperation discussed across the two days of meetings.
• US FDI to India: US FDI into India has grown from 2.7 billion dollars annually to an average of 8.7 billion dollars over the past four years. India-to-US investment also grew from 1.7 to 3.2 billion dollars.
• US as India's FPI partner: The US holds approximately 38 per cent of India's total foreign portfolio investment stock.

Static linkage: International relations; economy (FDI, investment).

GS area: Economy (industry), Governance

The Department for Promotion of Industry and Internal Trade conducted an ODOP Sampark (connect) event in Nagaland, connecting Indian products with European markets.

• ODOP basics: The One District One Product initiative selects one signature product from each of India's 761 districts to promote its manufacture, branding, and export. Over 1,000 products have been identified.
• First launched: By Uttar Pradesh in January 2018, before national adoption.
• National implementation: Ministry of Food Processing Industries for food sector products; Directorate General of Foreign Trade aligned its "Districts as Export Hubs" with ODOP.
• Budget support: Union Budget 2023-24 allocated 5,000 crore rupees for Unity Malls to serve as centralised ODOP marketplaces.
• Nagaland products highlighted: Chilli, fish, coffee, and turmeric from Nagaland.

Static linkage: Economy; government schemes; Northeast India.

GS area: Economy (digital payments)

The National Payments Corporation of India reported UPI transaction data for May 2023.

• May 2018 to May 2023: Transaction value rose from 33,288 crore rupees to 14,89,145 crore rupees. A 44-fold increase in five years.
• Transaction count versus value: While total value exploded, the average value per transaction fell from 1,756 rupees to 1,581 rupees, showing UPI is increasingly used for everyday small payments.
• Interchange fee: From April 2023, a 1.1 per cent interchange fee was introduced for UPI transactions involving Prepaid Payment Instruments (wallets). Person-to-person UPI transactions remain free.
• Cross-border UPI: India signed interoperability agreements with Singapore, UAE, Bhutan, and Japan for cross-border UPI-like payments.
• NPCI: National Payments Corporation of India operates UPI. It is a not-for-profit company set up by the RBI and the Indian Banks' Association.

Static linkage: Economy (digital payments, fintech).

GS area: Government Schemes, Economy (fisheries)

The government reviewed PM Matsya Sampada Yojana as it entered its fourth year.

• Total outlay: 20,050 crore rupees over five years (2020-21 to 2024-25). The highest-ever investment in India's fisheries sector.
• Approved projects: 14,654.67 crore rupees approved and in implementation as of 2022-23.
• India's fishery position: 3rd largest fish producer globally; 2nd largest aquaculture producer. Fish production reached 16.25 million metric tonnes in 2021-22.
• Marine exports: 57,586 crore rupees in 2021-22. Aquaculture products account for 70-75 per cent of fishery exports.
• Target: Double the incomes of fishers and fish farmers.

Static linkage: Government schemes; economy (fisheries); agriculture.

• Titan submersible tragedy: The OceanGate submersible Titan, carrying five people to view the Titanic wreck in the North Atlantic, imploded on 18 June 2023. All five occupants perished. The vessel was made of carbon fibre and titanium. Its forward viewport was certified only to 1,300 metres, while the Titanic lies at approximately 3,800 metres. The incident triggered global discussion on deep-sea tourism regulation.
• Matsya-6000 context: India's own deep-sea submersible, Matsya-6000, developed by the National Institute of Ocean Technology (NIOT), was designed with a spherical titanium hull (manufactured by ISRO). It is built for 6,000 metre depth. The Titan tragedy underscored the importance of the design choices made for Matsya-6000.
• Manipur ethnic violence: Continued violence between the Meitei community and Kuki-Zo communities in Manipur displaced thousands and prompted military deployment.