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Polity, Governance and Current Affairs

Glossary Terms

Global Platforms: UN, WTO, EU, ASEAN, BRICS, G-20, QUAD, I2U2, AUKUS, DAKSHIN

Paper III · Unit 1 Section 13 of 13 0 PYQs 30 min

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Glossary Terms

Term (EN) Definition Exam Relevance
UNSC UN's primary peace and security body; P5 + 10 Veto, reform
Veto Power P5 member's ability to block any UNSC resolution Reform debate
G4 India, Germany, Brazil, Japan — campaign for UNSC permanent seats UNSC reform
WTO World Trade Organisation; multilateral trade rules (1995–) Trade disputes
MFN WTO's most favoured nation principle — non-discrimination Trade law
DSB WTO Dispute Settlement Body Trade disputes
Appellate Body WTO's final appeal mechanism (paralysed 2019–) WTO crisis
EU Political-economic union of 27 European states India-EU FTA
Euro Common currency of 20 EU states EU economics
Brexit UK's exit from EU (Jan 2020) EU, UK-India
ASEAN 10-member Southeast Asian bloc (1967–) Act East
ASEAN Way Consensus, non-interference, peaceful resolution ASEAN principle
BRICS Brazil, Russia, India, China, South Africa + 4 new (2024) Expansion
NDB New Development Bank — BRICS's MDB (Shanghai, 2015) Infrastructure finance
G-20 19 nations + EU + AU; 85% of global GDP India's presidency
QUAD India, USA, Australia, Japan strategic forum (non-military) Indo-Pacific
Indo-Pacific Strategic concept spanning IOR + Pacific Ocean QUAD, AUKUS
I2U2 India, Israel, UAE, USA grouping (2021–) Abraham Accords context
AUKUS Australia, UK, USA security pact (2021); nuclear submarines China containment
DAKSHIN India's Global South technology-knowledge cooperation initiative India's leadership
De-dollarisation Reducing dependence on US dollar in international trade BRICS, Russia
Minilateral Small grouping of like-minded states for specific goals QUAD, I2U2, AUKUS
SCO Shanghai Cooperation Organisation; India full member 2017 India-China-Russia
SAARC South Asian Association for Regional Cooperation (1985, 8 members) South Asia
SAFTA South Asian Free Trade Area — largely ineffective due to India-Pakistan tensions Regional trade