As Dissanayake visits, takeaways from the India-SL engagement

Source: The Indian Express

Assurance on Anti-India Activities

Sri Lankan President Anura Kumara Dissanayake (AKD) assured Prime Minister Narendra Modi that Sri Lanka’s territory would not be used for activities detrimental to India’s interests. This commitment addresses India’s long-standing concerns over the recurring visits of Chinese “research vessels” to Sri Lankan ports. The reiteration of this stance is particularly noteworthy, given AKD’s perceived pro-China tilt.

Tamil Minority Issue: Divergent Perspectives

• Resistance to the 13th Amendment: AKD resisted India’s insistence on the full implementation of the 13th Amendment to the Sri Lankan Constitution, which aims to empower the Tamil minority. He remains opposed to both the amendment and any investigations into alleged war crimes from the LTTE-Sri Lankan military conflict.
• India’s Emphasis: PM Modi underscored the need for “reconciliation and reconstruction” and urged Sri Lanka to uphold its constitutional commitments, including conducting provincial council elections.

Focus on Unity and Development

While avoiding explicit commitments on Tamil issues, AKD highlighted the importance of unity, social protection, and sustainable development. He emphasized that diversity is a cornerstone of democracy.

A Confident President: Sri Lanka’s Evolving Stance and Domestic Policies

Firm Stance on Tamil Issue

The joint statement reflected Sri Lanka’s ability to shape the narrative in its favor. While India had earlier stressed Tamil aspirations, the full implementation of the 13th Amendment, and provincial council elections, AKD’s strong parliamentary mandate enabled him to resist external pressures, including those from India.

Confident Diplomacy with Major Powers

• AKD’s historic parliamentary majority has empowered him to engage assertively with influential nations such as India and China.
• This marks a shift in Sri Lanka’s diplomatic approach, showcasing a more self-assured and independent posture.

Anti-Corruption Commitment

• Domestically, AKD has adhered to the principles of his “Clean Sri Lanka” campaign.
• A recent example includes the resignation of Speaker Asoka Ranwala, a close ally, amid allegations regarding his academic qualifications. This demonstrates AKD’s zero-tolerance policy toward impropriety.

Focus on Mutual Benefits: India-Sri Lanka Cooperation

Rebuilding Sri Lanka with Clarity and Focus

President AKD is pursuing an ambitious agenda to rebuild Sri Lanka after recent crises. The joint statement titled “Fostering Partnerships for a Shared Future” underscores the shared commitment to development and collaboration between India and Sri Lanka.

Bilateral Development Cooperation

Both leaders acknowledged India’s significant contributions to Sri Lanka’s socioeconomic progress. Key projects include:

• Phase III and IV of the Indian Housing Project.
• Hybrid Renewable Energy Projects across three islands.
• High Impact Community Development Projects.

Advancing Connectivity and Energy Cooperation

1. Digital Collaboration:
   • Implementation of Aadhaar and UPI systems in Sri Lanka.
2. Energy Initiatives:
   • LNG supply agreements.
   • Development of Trincomalee as a regional energy and industrial hub.
   • Offshore wind power development in the Palk Strait.
   • High-capacity power grid interconnection between India and Sri Lanka.

Enhancing Physical Connectivity

• Resumption of passenger ferry services:
  • Nagapattinam and Kankesanthurai.
  • Rameswaram and Talaimannar (under review).
• Discussions on rehabilitating Sri Lanka’s Kankesanthurai port are progressing.

Defence and Security Cooperation

• Exploration of a Framework Agreement on Defence Cooperation.
• Provision of defence platforms and joint military exercises.
• Enhanced collaboration on maritime surveillance, cyber security, and counter-terrorism under the Colombo Security Conclave mechanism.

Strategic Continuity Amid Leadership Changes

Despite the change in leadership, Sri Lanka’s priorities and interests remain aligned with India’s strategic objectives. India views Sri Lanka’s stability as critical to its own regional interests, while AKD seeks to leverage this partnership to make his tenure impactful, fostering a mutually beneficial relationship.

Conclusion

President AKD’s visit to India marks a pivotal moment in bilateral relations, providing an opportunity to deepen strategic, economic, and cultural ties. With a clear focus on development, connectivity, and mutual cooperation, this partnership holds the potential to usher in a transformative era for India-Sri Lanka relations.

New game in town: Opinion trading sees surge in users, funding — under the radar

Source: The Indian Express

Overview:
With over 5 crore users and annual transaction volumes exceeding ₹50,000 crore, India’s opinion trading sector is growing exponentially but remains underregulated. Platforms like Probo and MPL Opinio dominate the market, attracting ₹4,200 crore in funding from prominent investors such as Sequoia Capital and Y Combinator. This burgeoning industry, projected to generate over ₹1,000 crore in FY 2024-25, plays a significant role in India’s online gaming economy.

What is Opinion Trading?
Opinion trading involves betting real money on outcomes across sectors like sports, elections, and cryptocurrency. While some platforms are accessible on major app stores, others, like Probo, operate outside the Google Play ecosystem, relying heavily on advertising for user acquisition.

Legal and Regulatory Challenges:

1. Lack of Central Legislation:
   • The absence of dedicated regulations leaves users unprotected.
   • Proposed amendments to IT Rules for online gaming remain ambiguous.
2. Skill vs. Chance Debate:
   • Games of skill are legal in India, while games of chance are not.
   • Critics argue opinion trading is akin to betting, lacking significant skill elements.
3. Avoidance of Stock Market Topics:
   • Platforms steer clear of Indian stock market predictions to avoid SEBI scrutiny.

Industry Perspectives and Global Insights:

• Platforms like Probo assert that their operations involve skill, validated through audits.
• Global examples like the U.S. and Australia regulate such activities as securities, offering a potential model for India. However, non-compliance, as seen with Polymarket in the U.S., can lead to penalties.

Way Forward:
A robust regulatory framework is essential to balance user protection with innovation. Collaboration among stakeholders is critical to shaping clear, central laws, ensuring sustainable growth in this promising sector.

Climate change and biodiversity loss are connected: Key takeaways from NEXUS report

Source: The Indian Express

Overview of the Nexus Report

The Intergovernmental Platform on Biodiversity and Ecosystem Services (IPBES) has released the “Nexus Report,” offering the most comprehensive scientific assessment to date on the interconnections among biodiversity, water, food, health, and climate change. The report explores over 60 response options to maximize co-benefits across these five interconnected areas.

About IPBES

The Intergovernmental Platform on Biodiversity and Ecosystem Services (IPBES), often likened to the IPCC for climate change, synthesizes existing scientific knowledge to assess the state of biodiversity and ecosystems. Established in 2012, IPBES informs international environmental agreements such as:

• The UN Convention on Biological Diversity.
• The Ramsar Convention on Wetlands.
• The Cartagena Protocol on Biosafety.

While IPBES does not produce new research, it evaluates existing studies to provide consolidated assessments, enabling informed decision-making.

Landmark IPBES Reports

1. First Report (2019): Highlighted that one million species face extinction due to human-induced changes. It revealed:
   • 75% of land and 66% of marine areas significantly altered.
   • 85% of wetlands lost.
   Impact: This foundational report inspired the Kunming-Montreal Global Biodiversity Framework (2022), setting 23 targets to halt biodiversity loss by 2030, including protecting 30% of land, freshwater, and oceans and restoring 30% of degraded ecosystems.
2. The Nexus Report (2023):
   • Key Insights:
     • Strong interconnections exist among global challenges like climate change, biodiversity loss, hunger, water scarcity, and health risks.
     • Tackling these issues in isolation is counterproductive due to their interconnected nature.
   • Economic Costs: Current activities harm biodiversity, climate, food production, water, and health, with unaccounted costs ranging from $10 to $25 trillion annually.

Risks of Isolated Approaches

The report warns that addressing individual challenges in isolation can exacerbate others:

• Food Production: Scaling up to address hunger may increase pressure on land, water, and biodiversity.
• Climate Mitigation: Exclusive focus on climate change could harm food security and biodiversity.
• Conservation Efforts: Protecting land and oceans may limit options for addressing food security and climate mitigation.

Call for Synergistic Approaches

The Nexus Report advocates for integrated strategies that provide benefits across all five challenges. Recommended measures include:

• Restoring carbon-rich ecosystems like forests, mangroves, and soils.
• Managing biodiversity to reduce zoonotic disease risks.
• Promoting sustainable, healthy diets.
• Employing nature-based solutions.

Economic and Social Imperatives

1. Economic Dependency on Nature: Over 50% of global GDP (≈ $58 trillion annually) depends on nature. Biodiversity degradation reduces productivity and economic output.
2. Transformative Change: The report highlights four principles for transformative change:
   • Equity and Justice: Fair resource distribution.
   • Pluralism and Inclusion: Embracing diverse perspectives.
   • Respect for Human-Nature Relationships: Sustainable interactions.
   • Adaptive Learning and Action: Evolving strategies based on feedback.

Urgency of Action

Delaying action on biodiversity conservation could double costs within a decade. However, adopting sustainable, nature-positive models now could unlock $10 trillion in business opportunities and create 400 million jobs by 2030.

Conclusion

The IPBES Nexus Report underscores the need for integrated approaches to address interlinked global challenges. By balancing sustainable production, ecosystem conservation, and economic growth, it paves the way for a resilient and sustainable future.

New undersea cables to boost India’s digital connectivity

Source: The Hindu

Strengthening Digital Connectivity: India’s Launch of Undersea Cables IAX and IEX

India is advancing its digital infrastructure with the launch of two cutting-edge undersea fiber-optic cables: India Asia Xpress (IAX) and India Europe Xpress (IEX). These initiatives aim to bolster global data connectivity and enhance the nation’s role in the digital ecosystem.

About Underwater Cables

Definition: Undersea cables are fiber-optic lines laid across ocean floors to facilitate high-speed global data transmission.

New Additions:

• IAX: Links Chennai and Mumbai with Singapore, Thailand, and Malaysia.
• IEX: Connects Chennai and Mumbai with France, Greece, Saudi Arabia, Egypt, and Djibouti.

Working Mechanism:

• Fiber-optic cables use laser beams to transmit data through ultra-thin glass fibers.
• Protected by layers of insulation, plastic, and steel wires for durability.
• Near shores, cables are buried beneath the seabed; in deep waters, they rest directly on the ocean floor.

Key Features:

• Depth and Placement: Buried under seabeds near coastal areas and laid directly on the ocean floor in deep seas.
• Data Capacity: New-generation cables can transfer up to 224 Tbps.
• Durability: Engineered with multiple protective layers; carefully routed to avoid natural fault zones, fishing activities, and ship anchors.
• Speed: Significantly faster and more cost-efficient for large-scale data transfer compared to satellite communication.

Why Underwater Cables Are Preferred Over Satellites

• Higher Data Capacity: Undersea cables can manage exponentially more data than satellites.
• Cost Efficiency: More economical for transmitting large-scale data on a bit-for-bit basis.
• Reliability: Provides more stable and consistent connections, especially crucial for high-volume data transfers.

India’s investment in the IAX and IEX cables underscores its commitment to strengthening global digital connectivity, fostering economic growth, and ensuring faster and more reliable data transmission.