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- Why in News?
- India and Brazil have decided to expand the scope of the Preferential Trade Agreement (PTA) between India and the Mercosur bloc to boost trade and economic cooperation. The move aims to include more products and sectors, enhancing market access and strengthening South-South economic ties.
- About Mercosur:
- Established in 1991 and headquartered in Montevideo, Uruguay, Mercosur (Southern Common Market) is a leading South American trade bloc that promotes free trade and regional integration. Its full members include Argentina, Bolivia, Brazil, Paraguay, and Uruguay, while Venezuela’s membership remains suspended. The bloc operates under three key institutions — the Council of the Common Market (CMC), Common Market Group (GMC), and Mercosur Trade Commission (CCM) — which together oversee policy coordination and trade regulations. Functioning as a customs union with a common external tariff, Mercosur plays a crucial role in fostering economic cooperation across Latin America.
- Why in News?
- The Ministry of Mines has released the State Mining Readiness Index (SMRI) to evaluate and promote the growth and efficiency of India’s non-coal mining sector. The index serves as a benchmarking tool to assess how well states are advancing mining reforms, accelerating mine operations, and ensuring sustainable practices.
- About the State Mining Readiness Index (SMRI):
- The index measures each state’s performance based on key parameters such as auction outcomes, speed of mine operationalization, exploration initiatives, and environmentally responsible mining. It aims to encourage competition among states and enhance transparency in the mineral sector. States are grouped into three categories according to their mineral endowment. The top performers include:
- Category A: Madhya Pradesh, Rajasthan, and Gujarat
- Category B: Goa, Uttar Pradesh, and Assam
- Category C: Punjab, Uttarakhand, and Tripura
- The SMRI thus highlights best practices and supports evidence-based policy reforms in mining governance.
- The index measures each state’s performance based on key parameters such as auction outcomes, speed of mine operationalization, exploration initiatives, and environmentally responsible mining. It aims to encourage competition among states and enhance transparency in the mineral sector. States are grouped into three categories according to their mineral endowment. The top performers include:
- Why in News?
- The UN Environment Programme (UNEP) has released the first “State of Finance for Forests 2025” report, offering a comprehensive assessment of global public and private investment in forests for the year 2023.
- Key Highlights:
The report identifies a significant annual forest finance gap of US$216 billion, highlighting the disparity between current funding levels and the amount required to meet global forest and climate goals by 2030. To bridge this gap, annual investments in forests must triple to US$300 billion by 2030 and increase sixfold by 2050, compared to US$84 billion in 2023. It also notes that governments contributed 91% of total forest financing, underscoring the need for greater private sector participation. Achieving global climate and biodiversity targets will further require the expansion of nature-based solutions by 1 billion hectares by 2030 and 1.8 billion hectares by 2050, emphasizing forests’ central role in sustainability.
- Why in News?
- The UN Environment Programme (UNEP) has released the first “State of Finance for Forests 2025” report, offering a comprehensive assessment of global public and private investment in forests for the year 2023.
- Key Highlights:
- The report identifies a significant annual forest finance gap of US$216 billion, highlighting the disparity between current funding levels and the amount required to meet global forest and climate goals by 2030. To bridge this gap, annual investments in forests must triple to US$300 billion by 2030 and increase sixfold by 2050, compared to US$84 billion in 2023. It also notes that governments contributed 91% of total forest financing, underscoring the need for greater private sector participation. Achieving global climate and biodiversity targets will further require the expansion of nature-based solutions by 1 billion hectares by 2030 and 1.8 billion hectares by 2050, emphasizing forests’ central role in sustainability.