PIB Daily

PIB Daily – 21st & 22nd January 2020 – IASToppers

National Start-up Advisory Council; International Arbitration Tribunal dismisses claims against India; United Nations Commission on International Trade Law;
By IASToppers
January 22, 2020

Contents

Polity & Governance

  • National Start-up Advisory Council

Bilateral & International Relations

  • International Arbitration Tribunal dismisses claims against India
 
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Polity & Governance

National Start-up Advisory Council

The Central Government has notified the structure of the National Start-up Advisory Council to advise the Government on measures needed to build a strong ecosystem for nurturing innovation and start-ups in the country.

National Startup Advisory Council PIB Daily

Aim:

  • To drive sustainable economic growth and generate large scale employment opportunities.

Structure of the council:

  • The council will be chaired by Minister for Commerce and Industry.
  • It will consist of the non-official members who will be nominated by the Central government from various categories like founders of successful start-ups.

National Startup Advisory Council 1

  • The term of the non-official members of the Start-up Advisory Council will be for a period of two years.
  • The nominees of the concerned department or organizations, not below the rank of joint secretary to the government, will be ex-officio members of the Council.
  • Joint secretary, Department for Promotion of Industry and Internal Trade will be the convener of the council.

Functions of the Council:

  • Suggest measures to foster a culture of innovation amongst citizens and students to promote innovation in all sectors of the economy across the country.
  • Suggest measures to facilitate public organisations to assimilate innovation with a view to improving public service delivery, promote creation, protection and commercialization of intellectual property rights.
  • Promote ease of access to capital for start-ups, incentivize domestic capital for investments into start-ups, mobilize global capital for investments in Indian start-ups, keep control of start-ups with original promoters and provide access to global markets for Indian start-ups.
[Ref: PIB, TOI]

 

Bilateral & International Relations

International Arbitration Tribunal dismisses claims against India

An International Arbitration Tribunal has dismissed all claims brought against Republic of India in in relation to cancellation of Letters of Intent for providing 2G services.

An International Arbitration Tribunal has dismissed all claims brought against India in entirety

  • The verdict was pronounced last year in July 2019 by the International Arbitration Tribunal constituted in accordance with the United Nations Commission on International Trade Law (UNCITRAL) Arbitration Rules, 1976.

What was the issue?

  • The claims against India was filed by the private firms in Cyprus and Russia.
  • They were under Agreement between Government of Russian Federation and Cyprus for promotion and protection of investments.

by the Permanent Court of Arbitration (PCA).

  • The arbitration was due to the cancellation of Letters of Intent to these firms for the issuance of telecommunications licences to provide 2G services in five telecommunications circles in India, for India’s essential security interests.

United Nations Commission on International Trade Law (UNCITRAL)

UNCITRAL is the core legal body of the United Nations system in the field of international trade law.

About-UNCITRAL

  • It was established by the UN General Assembly in 1996, with the general mandate for progressive harmonisation and unification of the law of international trade.
  • It is responsible for helping to facilitate international trade and investment.
  • Its mandate is “to promote the progressive harmonization and unification of international trade law” through conventions, model laws, and other instruments that address key areas of commerce, from dispute resolution to the procurement and sale of goods.
  • The Tribunal constituted in accordance with the UNCITRAL Arbitration Rules 1976 is seated at the Hague, Netherlands, and proceedings are administered by the Permanent Court of Arbitration.
  •  Annual sessions held alternately in New York City and Vienna, where it is headquartered.

 [Ref: PIB]

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