[Mission 2024] Current Affairs Quiz , 18 November 2023

Solution: b)

Statement 2 and 3 is correct.

About Cauvery River

It is the third largest river – after Godavari and Krishna – in southern India, and the largest in the state of Tamil Nadu, known as ‘Ponni’ in Tamil. Originates in Karnataka (Talakaveri in the Brahmagiri range in the Western Ghats, Kodagu district) and eventually drains into the Bay of Bengal. Its left bank tributaries include Arkavathi, Hemavathi, Shimsa, and Harangi, while right bank tributaries consist of Lakshmantirtha, Suvarnavati, Noyil, Bhavani, Kabini, and Amaravathi.

Solution: a)

Only Statement 1 is correct.

• The Agreement on Investment Facilitation for Development (IFA) is a WTO-negotiated agreement designed to create a more investor-friendly business environmentby simplifying investment procedures and promoting transparency and predictability for foreign direct investment (FDI), particularly in developing and least-developed countries.
• It is meant to create legally binding provisions aimed at facilitating investment flows.

What IFA doesn’t cover?

• IFA does not cover areas like market access, investment protection, government procurement, specific subsidies, or investor-state dispute settlement (ISDS).
• In essence, the IFA is not aimed at liberalising investment policies. Its objective is to simplify investment procedures.

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Solution: c)

Investment facilitation and Investment promotion: 

The difference between investment facilitation and investment promotion is that promotion focuses on presenting a location as an attractive investment destination, while facilitation aims to simplify the process for foreign investors to establish or expand their businesses by addressing practical challenges they may face.

Solution: b)

Statement 3 is incorrect.

World Trade Organization (WTO) is a member-driven, consensus-based intergovernmental organisation that regulates and facilitates international trade between nations. It officially began operations on January 1, 1995, in accordance with the 1994 Marrakesh Agreement.

WTO’s Agreement on TRIPS promotes IP rights enforcement.

Solution: c)

The Kimberley Process is an international certification scheme that regulates trade in rough diamonds. It aims to prevent the flow of conflict diamonds while helping to protect legitimate trade in rough diamonds.

Rough diamonds are uncut, unpolished, and unprocessed diamonds in their natural form as they are mined from the earth or extracted from other sources like alluvial deposits.

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