1) Generalised Scheme of Preferences (GSP): India is among the top beneficiaries of European Union’s GSP in 2022.
- Under the scheme, the EU allows identified products originating in certain developing countries preferential access to its markets in the form of reduced or zero rates of customs duties.
- As the items become more competitive and reach a particular threshold, the GSP is withdrawn.
- The EU has already withdrawn the GSP benefit on many items.
- The present policy will now continue for another four years until 2027.
- GSP was instituted under the aegis of United Nations Conference on Trade and Development (UNCTAD).
2) Trade secrets: An Indian IT Services Company has been asked to pay $210 million by a US jury for misappropriation of US IT services firm’s trade secrets.
- These are intellectual property (IP) rights on confidential information which may be sold or licensed.
- Information is considered trade secrets, if it fulfil following criteria:
- Commercially valuable because it is secret.
- Known only to a limited group of persons.
- Subject to reasonable steps taken by the rightful holder of the information to keep it secret.
3) FASTER 2.0 and electronic Supreme Court Reports (e-SCR) portal: Chief Justice of India launched the FASTER 2.0 and a Hindi version of the e-SCR portal.
- About FASTER 2.0 portal
- It is designed to promptly inform jail authorities, trial courts, and high courts about court orders for the release of prisoners.
- It aims to ensure that prisoners are not held in jail longer than necessary due to delays in communication.
- About e-SCR portal
- It provides the digital version of the apex court’s judgments in the same manner they are reported in the official law report.
4) Amplifi 2.0: Ministry of Housing and Urban Affairs launched Amplifi 2.0 (Assessment and Monitoring Platform for Liveable, Inclusive, and Future-Ready Urban India).
- The portal aims to provide raw data from Indian cities available on a single platform for academics, researchers, and stakeholders to help data-driven policymaking.
- Currently, 225 urban local bodies have been on-boarded, and data of 150 cities is available on the portal.
- The initiative provides the opportunity to create new frameworks for Urban development based on open data obtained
Places in News:
1) Cyprus (Capital: Nicosia):
- Cyprus wins cheese trademark case against Indian company.
- Political Boundaries
- Third largest island in Mediterranean Sea after Sicily and Sardinia.
- Situated at north-eastern corner of Mediterranean.
- It lies north of Egypt, south of Turkey, west of Syria, and southeast of mainland Greece.
- Geographical features
- It has mountains like Kyrenia and Troodos.
- Highest Peak: Mount Olympus.
- Longest river: The Pedieos
