05-02-2024 CARE mains practice

Q1. ‘There has been seen increased private sector involvement in the space domain, signifying a paradigm shift in the Indian Space Program.’ In light of the above statement, discuss the Indian Space Policy 2023 with focus on private sector participation in activities traditionally handled by ISRO. (250 words).

Topic- Science and Technology:

 

Introduction:

The Indian Space Policy 2023 heralds a momentous departure towards increased private sector involvement in the space domain, signifying a paradigm shift in the Indian Space Program. Traditionally dominated by the Indian Space Research Organisation (ISRO), this shift holds immense significance for the future trajectory of India’s space endeavors.

Body :

• Potential of space sector
• Current status
• Key provisions of the Indian Space Policy 2023
• Significance of Private Sector entry
• Challenges

Conclusion :
The Indian Space Policy 2023 aligns with global trends in fostering public-private partnerships in space exploration and economic endeavors. By embracing private enterprise, India not only solidifies its position in the global space arena but also lays the groundwork for a prosperous and inclusive future in space exploration and utilization.

UPSC Syllabus Science and Technology:

Discuss India’s achievements in the field of Space Science and Technology. How the application of this technology has helped India in its socio-economic development? [200 Words] [12.5 Marks][2016]
Introduction
The Indian Space Policy 2023 heralds a momentous departure towards increased private sector involvement in the space domain, signifying a paradigm shift in the Indian Space Program. Traditionally dominated by the Indian Space Research Organisation (ISRO), this shift holds immense significance for the future trajectory of India’s space endeavors.

Body Status : 

Potential

• At present, space economy is valued around ₹6,700 crore.
• The Indian SpaceTech sector has received $62 million funding in 2023, registering a 60% increase, compared to the last year.
• India’s space economy has the potential to reach ₹35,200 crore by 2033 with about 8% of the global share.
• At present, the export market share is ₹2,400 crore.

Current status

• As per Economic Survey of India, there have been over 100 active space companies since 2012.
• India is the sixth-largest player in the industry internationally having 3.6% of the world’s space-tech companies, as of 2021.
• The U.S. has 56.4% of all companies in the space-tech ecosystem.

Key provisions of the Indian Space Policy 2023

• The policy aims to bolster research and development efforts, fortifying the foundation of India’s space program.
• Space technology will be harnessed to address national priorities such as education, healthcare, and disaster management, amplifying its societal impact.
• Through the establishment of a stable regulatory framework under IN-SPACe, the policy ensures equitable opportunities for private players, fostering a level playing field.
• Emphasis is placed on nurturing space education, research, and startups, fostering a culture of innovation within the space sector.
• Space exploration will serve as a catalyst for overall technological progress, contributing to scientific literacy and advancement.

Significance of Opening the Space Economy to Private Sector:

• Increased competition among private entities drives efficiency and cost reduction, translating into more affordable satellite services and broader access to space data.
• Leveraging private expertise positions India as a space technology frontrunner, attracting foreign investment and generating high-skilled employment opportunities
• With more players entering the arena, access to space data and services becomes more widespread, empowering diverse stakeholders ranging from scientists to startups.
• Private innovation can spearhead initiatives such as space debris removal and asteroid mining, paving the way for responsible and sustainable space exploration.

Challenges associated with the privatization

• Private capital is still not flowing freely and blindly through to space-based enterprises like it is with internet-, digital media- and hardware-related technology businesses.
• Commercial viability of space-based enterprises is still to be worked out.
• There is a lack of adequate and secured insurance, as insurers are unable to see and test the reliability of space-based technologies in the recent past.

Conclusion
The Indian Space Policy 2023 aligns with global trends in fostering public-private partnerships in space exploration and economic endeavors. By embracing private enterprise, India not only solidifies its position in the global space arena but also lays the groundwork for a prosperous and inclusive future in space exploration and utilization.

 

Topic- International Organization :

Introduction

The release of the G20/OECD Principles of Corporate Governance marks a significant milestone in the pursuit of global standards for corporate governance. However, achieving this goal presents both ethical imperatives and practical challenges that require careful consideration and analysis.

Body

• Ethical Imperatives
• Practical Challenges
• Cultural Differences
• Enforcement and Compliance
• Examples : Enron & Volkswagen Scandal

Conclusion

Establishing robust international corporate governance systems requires a delicate balance between ethical imperatives and practical considerations. While the G20/OECD Principles of Corporate Governance provide a framework for promoting transparency, accountability, and integrity in business operations, addressing the complexities of cross-border business requires a coordinated effort from governments, regulators, businesses, and other stakeholders.

 

UPSC Syllabus International Organization

 

Why was this question asked?
What do you understand by ‘moral integrity’ and ‘professional efficiency’ in the context of corporate governance in India? Illustrate with suitable examples. (UPSC Main 2023)

‘International aid’ is an accepted form of helping ‘resource-challenged’ nations. Comment on ‘ethics in contemporary international aid’. Support your answer with suitable examples. (UPSC Main 2023)
Introduction:

The release of the G20/OECD Principles of Corporate Governance marks a significant milestone in the pursuit of global standards for corporate governance. However, achieving this goal presents both ethical imperatives and practical challenges that require careful consideration and analysis.

Body Status

Ethical Imperatives

• At the core of international corporate governance lies the ethical imperative to uphold principles of integrity, fairness, and responsibility.
• Transparency and accountability are paramount, as they foster trust among stakeholders and mitigate the risks associated with unethical practices.
• Ethical corporate governance ensures that companies act in the best interests of their shareholders, employees, customers, and the broader society, aligning business objectives with societal values.

Practical Challenges

• One of the primary challenges in establishing robust international corporate governance systems is the divergence in legal and regulatory frameworks across different jurisdictions.
• Companies operating globally must navigate a complex web of laws and regulations, which may vary significantly in terms of scope, enforcement, and interpretation.

Cultural Differences :

• Cultural nuances and differences in business practices pose significant challenges to the implementation of universal corporate governance standards.
• What may be considered acceptable corporate behavior in one culture may be perceived as unethical in another.
• Bridging these cultural divides requires sensitivity, flexibility, and a deep understanding of local customs and norms.

Enforcement and Compliance:

• Ensuring compliance with international corporate governance standards can be challenging, particularly in regions where regulatory enforcement mechanisms are weak or ineffective.
• Companies may face difficulties in monitoring and enforcing compliance with governance principles across their global operations, leading to potential ethical lapses and governance failures.
• Examples
  • Enron Scandal: The Enron scandal serves as a poignant example of the ethical and practical challenges in international corporate governance.
  • Enron’s fraudulent accounting practices and corporate governance failures led to its spectacular collapse, highlighting the importance of transparency, accountability, and effective regulatory oversight in preventing corporate misconduct.
  • Volkswagen Emissions Scandal: The Volkswagen emissions scandal underscores the global nature of corporate governance challenges.
  • Volkswagen’s deliberate manipulation of emissions tests violated ethical norms and regulatory requirements, resulting in significant financial and reputational damage.
  • The incident exposed weaknesses in corporate governance practices and regulatory oversight, prompting calls for stricter accountability measures and transparency in the automotive industry.

Conclusion
Establishing robust international corporate governance systems requires a delicate balance between ethical imperatives and practical considerations. While the G20/OECD Principles of Corporate Governance provide a framework for promoting transparency, accountability, and integrity in business operations, addressing the complexities of cross-border business requires a coordinated effort from governments, regulators, businesses, and other stakeholders.