Aspirant's Corner

India's Journey to Become the Pharmacy of the World       With a history which dates back to the ancient practices of Ayurveda, India has cemented its position as a dependable country when it comes to health crisis. India's pharmaceutical industry is witnessing steep growth with lots of innovation and employment generation.       India is promoting a positive Image of the country  world-wide. The pharma industry has brought path-breaking innovations and rapidly improved its global potential for distributing time-critical drugs to every corner of the world. For instance, under Vaccine Maitri initiative and Neighbourhood First Policy, India has supplied more than 150 nations with medicines and vaccines. Ex: Hydroxychloroquine (HCQ) to USA.  However there are some issues associated with this sector which requires attention:- Forces that Contribute to India's Pharmaceutical Growth      India's transformation into the Pharmacy of the World' is a result of several pivotal

  Internationalisation of Indian Rupee: Why Does it Matter and the Initiatives Taken for it Fuelled by economic reforms, India's economic relations with other countries have undergone a remarkable transformation, in terms of trade and investments. Simultaneously, the global financial landscape has been evolving, moving away from a dominant USD. These changes, coupled with recent geopolitical shifts, lay the groundwork for the ascent of alternative currencies, especially the Indian Rupee (INR), onto the international stage. What is Internationalisation of Currency?  Currency internationalization is when a currency is used extensively beyond its home country's borders. This means it's not just used for transactions with the issuing country, but also for trade and other financial activities between other countries.  Examples include the US dollar and the euro, which are used for international settlements and held as reserves by many countries.  It's a complex journ

  Universal Basic Income: Definition. Why it is a good idea? What are the associated challenges and way forward In order to counter the increasing economic disparities and ensure sustainable future for all, the concept of Universal Basic Income was introduced, which is seen as an effective option as Universal basic income promises unconditional guaranteed cash transfer to all it’s beneficiaries.  What is Universal Basic Income ? Universal Basic Income (UBI) is a social welfare concept in which all citizens or residents of a country receive a regular, unconditional sum of money from the government, regardless of any other income they might have. UBI is distributed at regular intervals, such as monthly or annually, ensuring a consistent income stream for individuals. The primary goals of UBI include poverty alleviation, reduction of income inequality, and providing individuals with financial security. Proponents argue that it can create a safety net for unpredictable economic condi

  Impact of Globalisation on Youth in India  The idea of “ Vasudaiva Kutumbakam ", the world is one family, is also reflected in the idea of ‘globalisation’, as countries interact, integrate and are interdependent on one another for mutual benefit. This interaction among multiple countries heavily impact the youth of India as it promises emmense possibilities, but also comes at a price.  Various Socio-Economic Impact of Globalisation on Youth in India  Positive Impacts 1.  Aquire knowledge about global issues:  With globalisation, youth are more aware about global ideologies, philosophies, trends and global affairs, and hold diverse perspective about things. 2.  Employment opportunities:  With global partnerships, joint training programs, study abroad programs, etc, more opportunities are available for youth to learn skills from international organisations and procure employment opportunities in both India and abroad. 3.  Urbanization and modernization:  Setting up of MNCs and int