Everything about Global Entrepreneurship Summit (GES)

Global Entrepreneurship Summit (GES)

• It is the preeminent annual entrepreneurship gathering that convenes emerging entrepreneurs, investors and supporters from around the world.

• It was started by U.S. government in 2010.

• It serves as a vital link between governments and the private sector and convenes global participants to showcase projects, network, exchange ideas and champion new opportunities for investment.

Aim

• It aims to highlight entrepreneurship as means to address some of the most intractable global challenges.

GES-2017, Hyderabad

• It is the eighth annual GES summit.

• It is the first GES summit being held in South Asia.

• Since 2010, it has been hosted by Kenya, Morocco, Turkey, the United Arab Emirates, Malaysia and last year it was held in Silicon Valley in the US.

• The Theme of GES-2017 is ‘Women First, Prosperity for All’.

• The main focus will be on supporting women entrepreneurs and fostering economic growth globally.

Areas of focus:

The GES 2017 will focus on four key industry sectors:

1 Energy and Infrastructure

2 Healthcare and Life Sciences

3 Financial Technology and Digital Economy

4 Media and Entertainment

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Global Entrepreneurship Summit (GES):

Global Entrepreneurship Summit (GES):

  • It is the preeminent annual entrepreneurship gathering that convenes emerging entrepreneurs, investors and supporters from around the world.
  • It was started by U.S. government in 2010.
  • It serves as a vital link between governments and the private sector, and convenes global participants to showcase projects, network, exchange ideas, and champion new opportunities for investment.
  • Its aims to highlight entrepreneurship as means to address some of the most intractable global challenges.

GES-2017, Hyderabad:

  • It will be the eighth annual GES summit.
  • It will be the first GES summit to be held in South Asia.
  • Since 2010, it has been hosted by Kenya, Morocco, Turkey, the United Arab Emirates, Malaysia and last year it was held in Silicon Valley in the US.
  • The Theme of GES-2017 is ‘Women First, Prosperity for All’, the main focus will be on supporting women entrepreneurs and fostering economic growth globally.

Areas of main focus:

The GES 2017 will focus on four key industry sectors:

  1. Energy and Infrastructure.
  2. Healthcare and Life Sciences.
  3. Financial Technology and Digital Economy.
  4. Media and Entertainment

India’s new role:

  • The event will highlight India’s enabling environment for innovation and entrepreneurship.
  • Through two and half days of training and mentoring sessions, networking, and investment matchmaking, the United States and India will forge new collaborations and launch new initiatives, while reducing the barriers inhibiting international growth and innovation.

Everything about Ordinance

What is an ordinance and who makes it?

  • Article 123 of the Indian Constitution grants the President of India to Promulgate Ordinances when either of the two Houses of the Parliament is not in session which makes it impossible for a single House to pass and enact a law.
  • Ordinances may relate to any subject that the parliament has the power to make law, and would be having same limitations.

When an ordinance can be issued?

  • When legislature is not in session.
  • When immediate action is needed: Here the Supreme Court has clarified that the legislative power to issue ordinances is ‘in the nature of an emergency power’ given to the executive only ‘to meet an emergent situation’.

How parliament exercises control over ordinance making power of President? 

  • The constitution provides two parliamentary checks vis-a-vis the promulgation of ordinance [Art 123(2) (a)]:
  • The power of parliament to pass resolutions disapproving the provisions of the ordinance.
  • The automatic expiry of the ordinance within six weeks of the reassembly of the houses of the parliament unless passed by the parliament; this gives a chance for the parliament to debate on the ordinance and review it accordingly.

Ordinance making powers of the Governor

  • Just as the President of India is constitutionally mandated to issue Ordinances under Article 123, the Governor of a state can issue Ordinances under Article 213, when the state legislative assembly (or either of the two Houses in states with bicameral legislatures) is not in session.
  • The powers of the President and the Governor are broadly comparable with respect to Ordinance making.
  • However, the Governor cannot issue an Ordinance without instructions from the President in certain cases where the assent of the President would have been required to pass a similar Bill.

Key debates relating to the Ordinance making powers of the Executive.

  • There has been significant debate surrounding the Ordinance making power of the President (and Governor).
  • Constitutionally, important issues that have been raised include:
  • Judicial review of the Ordinance making powers of the executive;
  • The necessity for ‘immediate action’ while promulgating an Ordinance;
  • And the granting of Ordinance making powers to the executive, given the principle of separation of powers.

Important Cases:

  • In 1970, RC Cooper vs.Union of India Case the Supreme Court, held that the President’s decision on Ordinance could be challenged on the grounds that ‘immediate action’ was not required; and the Ordinance had been passed primarily to by-pass debate and discussion in the legislature.
  • In 1980, AK Roy vs.Union of India case the Court argued that the President’s Ordinance making power is not beyond the scope of judicial review.

Cyber attack – ransomware , NotPetya

  • It is a malicious software that blocks access to computers and data until a sum of money is paid. NotPetya is the second major global ransomware since WannaCry, which had infected about 3,00,000 computers across 200 countries in May. Similar to WannaCry, one of the means by which Petya spread was by exploiting the MS12-010 vulnerability, also known as EternalBlue. Microsoft had issued a security patch to fix it in March.
  • The Petya ransomware not only encrypts files, but also overwrites and encrypts the master boot record. It shuts down the system about an hour after the infection and asks for ransom on rebooting. Users will not be able to access the system till the infection is removed. The PC might be protected from the malware in case the user is able to disrupt the system reboot.
  • Ransomware is a piece of malicious software which takes control of your system and files. Upon taking over, it applies encryption on those files and asks for money for a key that can restore the files. The ransomware often scrambles file names and changes their extension.

About the Nuclear Non-Proliferation Treaty (NPT):

  • The nuclear Non-Proliferation Treaty came into force in 1970, following widespread international concern about the risk of nuclear weapons proliferation and the spiraling nuclear weapon stocks of those states that had developed them.
  • The NPT is a multilateral treaty aimed at limiting the spread of nuclear weapons including three elements: (1) non-proliferation, (2) disarmament, and (3) peaceful use of nuclear energy.
  • It says:
  • States without nuclear weapons will not acquire them;
  • States with nuclear weapons will pursue disarmament;
  • All states can access nuclear technology for peaceful purposes, under safeguards.
  • According to the treaty the nuclear weapon states are the United States, UK, Russia, China and France.
  • Three states, Israel, India and Pakistan did not sign the NPT.
  • They stayed outside the treaty framework and have developed nuclear weapons.
  • North Korea signed the treaty but withdrew from it in 2003.

 Parliamentary vs Presidential System

Does India need a presidential system?

Arguments :-

  1. Against

Debate can be divided in to feasibility and desirability

  1. In the existing constitutional scheme, change is not possible. Supreme court of India already held parliamentary form of Government as part of the basic structure of the constitution.
  2. Presidential system centralizes power and chances of it turning in to an authoritative system are high.
  3. If India’s diversity is taken in to consideration, it is not advisable to have a presidential system. Presidential system do not reflect the diversity well.
  4. Presidential system can create a stalemate situation between executive and legislature.

2. Favor

  1. Presidential system allows for quick decision making . Fixed term for executive makes him invulnerable from the politics of the day and provides stability. Decisiveness is necessary for India to deal with its enormous challenges.
  2. Accountability is better in Presidential system. Unlike in parliamentary system where Executive enjoys majority, there is no guarantee for the same in presidential system.
  3. President appoints his officers. It can bring in more talent in to the system.
  4. Parliamentary system have distorted voting preference of voters. It mean that voters are forced to vote for a candidate to have a particular leader as CM or Prime Minister.
  5. India will not have a US style two party grid lock. So issue based coalitions comes in to picture. It helps for greater debate in the houses.
  6. Most of the legislatures coming in to the houses are with little legislative experience and are participating in elections to get hold of executive power. It mean that they can not act as an effective legislative control.

Most Favoured Nation (MFN) status

What is Most Favoured Nation’ (MFN) status? 

  • The WTO as the trade-promoting body has certain key principles or philosophical themes for its working.
  • One such principle is non-discrimination which is well scripted in Most Favored Nation (MFN) treatment.
  • The MFN is a status or treatment given by one country to another in trade matters.
  • It means that the recipient country of MFN will nominally get equal trade advantage as the ‘most favoured nation’ by the country granting the treatment.
  • Though the MFN status says the receiving country is the most favoured by the issuing country; the meaning is slightly different.
  • The real meaning is that the receiving country will not be treated disadvantageously by the issuing country in trade matters vis a vis other countries.
  • Under WTO, countries cannot normally discriminate between their trading partners.
  •  If a special favour is granted to a particular country, it should be extended to all other WTO members.
  • In this respect, the MFN is so important that it is the first article of the GATT, which governs trade in goods.
  • The MFN status was accorded to Pakistan by India in 1996 as per India’s commitments as a member of the World Trade Organisation (WTO).
  • Pakistan, a founding member of the WTO like India, is yet to grant the MFN tag to India (and Israel).

Exceptions for MFN: 

  • MFN at the same time allows some exemptions as well.
  • One such exemption is the right to engage in Free Trade Agreements.
  • This means members can participate in regional trade agreements or free trade agreements where there is discrimination between member countries and non member countries.
  • Another exemption is that members can give developing countries special and differential treatment like greater market access.
  • This special concession are in different forms like reduced tariff rates from developing country imports, concessions that allows developing countries to give subsidies to their production sectors etc.
  • All these exceptions are subjected to strict conditions.
  • In general, MFN means that every time a country lowers a trade barrier or opens up a market, it has to do so for the same goods or services from all its trading partners — whether rich or poor, weak or strong.
  • Each member treats all the other members equally as “most-favoured” trading partners.