100 % FDI in Space Sector

• The Finance Ministry has announced changes to the Foreign Exchange Management Act regulations in order to operationalize its previous determination to permit up to 100% foreign direct investment (FDI) in the space industry. The amended regulations become operative on April 16.

Context:

• The notification, dated April 16, coincides with Elon Musk, the CEO of Tesla, traveling to India early next week. During his tour, he is anticipated to meet with space entrepreneurs, advance the goals of his space enterprise Starlink, and reveal his plans for investing in electric vehicles (EVs).

About FDI

• An investment in which a firm acquires majority control of a corporate entity in another nation is known as foreign direct investment, or FDI. As a result, international businesses become intimately involved in the daily operations of other nations.

India gets FDI through two routes:

(a) Automatic route: Under this route, foreign direct investment (FDI) may be made by a non-resident or Indian firm without the Reserve Bank of India’s (RBI) or Indian government’s previous approval.

(b) Government route: This route requires the consent of the government. The Foreign Investment Facilitation Portal, which enables single-window clearance, is where the company must submit its application.

Key takeaways:

• The FDI policy for the space sector was amended in February by the Union Cabinet, enabling investments up to 100% in specific categories.
• According to the most recent announcement from the Finance Ministry, 100% FDI is permitted in the space sector category for the production and operation of satellites, satellite data products, ground segment, and user segment. Up to 74% of the investment can be made automatically; any amount above that will require approval from the government.
• Any foreign investment in the development and operation of satellites was formerly prohibited without official government consent.
• The ground segment, user segment, and satellite segment will all have their components, systems, and subsystems manufactured entirely automatically.
• Additionally, up to 49% of automatic FDI has been approved for launch vehicles, related systems, and subsystems, as well as the construction of spaceports for spacecraft arrival and departure. Any investment beyond 49% would need the consent of the government.
• The Ministry has additionally furnished comprehensive definitions for terms such as “spaceport,” “launch vehicles and associated systems or sub-systems,” “satellite data products,” and “satellites – manufacturing and operation.”

GLOBAL FOREST WATCH (GFW)

2.33 million hectares of tree cover have been destroyed in India since 2000, according to a recent analysis by Global Forest Watch.

Context:

• According to Global Forest Watch, which uses satellite data and other sources to study forest changes in almost real-time, the nation lost 4,14,000 hectares of humid primary forest (4.1%) between 2002 and 2023, accounting for 18% of the overall loss of tree cover during that time.

About GFW, or Global Forest Watch

• An online resource called Global Forest Watch (GFW) offers information, resources, and technology to assist people worldwide in safeguarding their forests.
• With collaborators like Google, USAID, the University of Maryland (UMD), Esri, Vizzuality, and numerous other organizations, GFW is an initiative of the World Resources Institute (WRI).
• It enables users to efficiently manage and disseminate information regarding forest cover and land use, including corporations, governments, journalists, and conservation organizations.
• It provides insights into the current condition of the world’s forests and illuminates trends linked to the decline of tree cover. For the purpose of forming policies and making educated decisions, this information is essential.

MEN5CV VACCINE

Nigeria was the first nation to introduce Men5CV, a novel meningitis vaccination.

Context:

• This momentous accomplishment highlights the value of international cooperation and the vital role vaccines play in preserving public health. Nigeria’s strong stance against meningitis establishes a standard for other nations.

About MEN5CV VACCINE:

• The Men5CV vaccination offers defense against five different meningococcus bacterial strains.
• The strains A, C, W, Y, and X are among them.
• The World Health Organization (WHO) has approved this vaccine, and Nigeria is the first nation in the world to implement it.
• Men5CV has the potential to significantly lower meningitis cases and aid in the fight against this fatal illness by targeting several serogroups.
• Situated in the African Meningitis Belt, Nigeria is one of the 26 countries in Africa with a high prevalence of meningitis.
• With the help of the Men5CV vaccination, meningitis may develop differently in the future, averting epidemics and saving lives.
• The Men5CV vaccination is in line with the worldwide objective of eradicating meningitis by 2030.

GREEN CREDIT PROGRAMME (GCP)

The Green Credit Programme (GCP) has been modified by the Union Environment Ministry.

Context:

• The goal of these adjustments is to achieve a balance between sustainable development and environmental preservation.

About GREEN CREDIT PROGRAMME (GCP):

• A unit of incentive for a particular ecologically beneficial activity is the green credit.
• For example, every tree planted and assessed after two years by the Indian Council of Forestry Research and Education (ICFRE) results in one “green credit.”

These credits serve two purposes:

• Respect for forest laws: Reimbursement for the relocation of forest land is required.
• Reporting in accordance with social, environmental, and governance norms: fulfilling the demands of corporate social responsibility.

Green Credit Programme (GCP)

• The Ministry of Environment, Forests, and Climate Change launched the Green Credit Programme (GCP), a market-based mechanism, as part of the “LiFE” – “Lifestyle for Environment” project on October 13, 2023.
• The goal of the GCP is to encourage enterprises, communities, private sector industries, and individuals to take voluntary environmental activities.

Key features of the GCP include:

• Encouraging Environmental Actions: By engaging in environmentally beneficial actions like afforestation and water conservation, participants can earn Green Credits.
• Framework for Governance: The GCP is administered by the Indian Council of Forestry Research and Education (ICFRE), with support from an interministerial Steering Committee.
• Digital Platform: Project registration, verification, and Green Credit issuing will be made easier with the use of an intuitive digital platform.
• Green Credit Registry and Trading Platform: Green Credits will be able to be bought and sold on this platform.
• Ecomark Scheme: The Ecomark Scheme certifies and brands consumer goods that are environmentally beneficial in addition to the GCP.

Solar Waste Management

India’s growing solar waste problem was highlighted in a research titled “Enabling a Circular Economy in India’s Solar Industry – Assessing the Solar Waste Quantum.” In cooperation with specialists from the Council on Energy, Environment, and Water, the Ministry of New and Renewable Energy (MNRE) carried it out.

Context:

• India’s mineral security will improve and import dependency would be decreased by recycling solar waste to recover resources.

Key highlights of the Report:

• As of FY23, India’s solar capacity produced approximately 100 kt of cumulative waste; by 2030, that amount is expected to rise to 340 kt. By 2050, this volume will have increased 32 times, producing a total of roughly 19000 kt of garbage. By 2050, new capabilities will account for 77% of the total garbage generated.
• By 2030, five states—Jaguar, Gujarat, Karnataka, Tamil Nadu, and Andhra Pradesh—are estimated to create about two-thirds of the world’s trash. By 2030, Rajasthan would produce 24% of the trash produced, followed by Gujarat with 16% and Karnataka with 12%.
• Minerals such as silicon, copper, tellurium, and cadmium that are vital to India’s economic growth and security are found in discarded solar modules. By 2030, an estimated 340 kt of waste is expected, of which 10 kt will include silicon, 12–18 tonnes of silver, and 16 tonnes each of cadmium and tellurium.

Recommendations :

• A database of installed solar capacity should be kept up to date and maintained by the Ministry of New and Renewable Energy (MNRE) in order to accurately map out potential waste generating centers.
• Guidelines for gathering and storing solar waste ought to be released by the Ministry of the Environment, Forests, and Climate Change. It should also encourage the secure and effective handling of garbage that has been stored.
• Manufacturers of solar cells and modules ought to initiate the establishment of waste collecting and storage facilities in order to fulfill their obligations as stipulated in the Electronic Waste Management Rules 2022.

India’s challenges in recycling solar waste

• The lack of clear, comprehensive rules pertaining to solar waste management makes it difficult to develop standardized recycling procedures and could lead to uneven recycling efforts.
• A variety of materials, including silicon, glass, aluminum, and hazardous metals like lead and cadmium, are found in solar panels. In order to effectively recycle these components, they must be separated, which calls for specialized technology that is sometimes pricy and scarce in India.
• A significant amount of solar waste finds its way to unofficial recyclers who frequently use ecologically hazardous methods and lack adequate safety precautions.
• The economic viability of recycling operations in India is weakened by the inadequate market for products like silicon wafers or glass cullet from recycled panels.

Ways to manage Solar Waste in India:

• India can develop a thorough regulatory framework to direct solar waste collection, recycling, and material-specific recovery goals. Incentives like green certifications, which promote recycling and mineral recovery, can also be encouraged by the framework. It should also involve creating and putting into effect extensive regulations that support resource efficiency, recycling, and reuse in the solar business, all in the name of the circular economy.
• supplying them with the necessary tools and conducting training programs to incorporate unofficial recyclers into the official system. This guarantees safe and ecologically responsible procedures and gives them a stable job.
• India is capable of cleaning, repairing, and retesting slightly damaged panels, diverting them from the waste stream and offering consumers reasonably priced options by setting up specialized refurbishing facilities.
• encouraging and rewarding green entrepreneurs who use recycled solar resources to build and test new sustainable goods, therefore promoting innovation and efficient use.