Context: India and France have officially concluded an Inter-Governmental Agreement (IGA) valued at nearly ₹64,000 crore for the procurement of 26 Rafale-Marine (Rafale-M) fighter jets for the Indian Navy. The signing ceremony was conducted remotely by Defence Minister Rajnath Singh and French Armed Forces Minister Sébastien Lecornu. Key Details Scope of the Deal Industrial and Economic Benefits Strategic Significance TH
India-UK FTA
India-UK Free Trade Agreement in Final Stages Key Trade-Offs Between India and UK Economic Impact & Sectoral Gains Carbon Tax Concerns US-India Trade Deal on Fast Track The Indian Express
GIST: Valedictory Address on Green and Sustainable Finance (RBI)
Introduction Key Building Blocks for a Robust Green Finance Ecosystem Challenges in Climate Risk Assessment RBI Initiatives Climate Change and Credit Risks Challenges in Green and Sustainable Financing Augmenting Green and Sustainable Finance Role of Technology and Innovation Way Forward Conclusion Source: RBI Circular
Daily Current Affairs (DCA) 27 & 28 April, 2025
Daily Current Affairs Quiz27 & 28 April, 2025 International Affairs 1. US-India Trade Negotiations and Non-Tariff Barriers Context: The ongoing trade discussions between the US and India have been marked by concerns over non-tariff barriers affecting market access, particularly for American businesses. These barriers are being addressed through side letters exchanged between trade ministers from both countries, outside of the official framework of the Early Harvest Trade Agreement (ECTA). Key Concerns Raised by the US: Trade Deal Negotiations: The trade discussions between the US and India have underscored significant challenges posed by non-tariff barriers in various sectors. While both countries have committed to resolving these issues, the complexity of these barriers requires a sector-by-sector approach to ensure mutual market access and fairness. The ongoing negotiations aim to secure a trade deal that addresses these concerns and avoids the imposition of reciprocal tariffs, with hopes of finalizing key agreements in the coming months. BS National Affairs 1. Kailash Mansarovar Yatra to Resume After Six Years Context: After a six-year suspension, the Kailash Mansarovar Yatra will restart in 2025, with about 750 Indian pilgrims set to travel to Tibet between June and August. The Ministry of External Affairs (MEA) announced that the first batch will depart from Delhi on June 30, slightly later than the early June schedules of previous years. Background Diplomatic Context Significance TOI 2. India Expands Claim in Arabian Sea by 10,000 Sq Km Context: India has expanded its extended continental shelf claim in the central Arabian Sea by nearly 10,000 square kilometers, while modifying earlier submissions to sidestep a long-standing maritime dispute with Pakistan. The updated documents were submitted this month to the United Nations Commission on the Limits of the Continental Shelf (CLCS). Understanding Extended Continental Shelf (ECS) Arabian Sea The Arabian Sea is a major body of water in the northern Indian Ocean, playing a significant role in international trade and regional maritime activities. It is bordered by several countries and regions: Key Characteristics: Strategic Waterways: The Arabian Sea is vital for global shipping routes, especially for oil and cargo traffic between the East and West. It has also been a historical center for trade and cultural exchange. India’s Strategy Handling Disputes International Dynamics Significance TH 3. INSPACe Initiative: Satellite Bus as a Service (SBaaS) Context: India’s Indian National Space Promotion and Authorization Centre (INSPACe) has launched a new initiative aimed at reducing the country’s import dependence and fostering innovation in the space sector. The Satellite Bus as a Service (SBaaS) program invites private companies to design and develop satellite bus platforms for small satellite missions, which will support multiple payload applications. Key Highlights of the SBaaS Initiative Vision for India’s Space Sector Pawan Goenka, Chairman of INSPACe, emphasized the importance of the SBaaS initiative in democratizing India’s space sector and positioning the country as a global service provider for small satellite bus and hosted payload services. Rajeev Jyoti, Director of Technical Directorate at INSPACe, highlighted that this initiative would streamline access to flight platforms, making the development cycle for space technologies faster and more efficient. India’s Space Industry INSPACe’s SBaaS initiative marks a significant step toward making India a global leader in satellite services. By encouraging innovation and private sector involvement, India is reducing its dependency on imports while enhancing its space capabilities. This initiative not only supports the growth of emerging space technologies but also positions India as a hub for global satellite bus solutions in the years to come. BS 4. Cheetah Cubs Born at Kuno National Park Birth of Five Cheetah Cubs: Genetic Diversity for Long-Term Survival Growth of Cheetah Population at Kuno Project Cheetah Success The Indian Express 5. India’s Progress in Reducing Poverty Context: India has made substantial strides in poverty reduction, with notable improvements in both rural and urban areas. The World Bank‘s recent report highlights several key aspects of this progress, including the decline in extreme poverty, multidimensional poverty, and significant changes in income inequality and employment dynamics. Extreme Poverty Decline Challenges in Data Comparability State Contributions to Poverty Potential Adjustments to Poverty Estimates Income Inequality and Employment Trends India has made remarkable progress in reducing extreme poverty, with significant gains in both rural and urban areas. However, challenges remain in addressing income inequality, ensuring sustainable employment, and overcoming data comparability issues. The focus on improving employment opportunities, particularly for youth and women, and maintaining inclusive economic growth will be crucial for sustaining this progress in the future. Science & Tech 1. Genome India Data Context: On January 9, 2025, the Department of Biotechnology (DBT) issued a call for proposals for translational research using Genome India data, targeting India-based scientists. The original submission deadline of February 28, 2025, was later extended to March 31, 2025. About the Genome India Project Key Issues Raised Government Response: Accessibility Disparity: Significance: TH 2. Google’s Expansion of AI in India Context: Google is accelerating its AI integration across key areas like search, advertising, and YouTube in India, one of its fastest-growing digital markets. The company’s AI-driven tools aim to revolutionize advertising by improving consumer targeting and creating more engaging formats, particularly through YouTube and Google Search. AI-Powered Advertising: Driving Growth in India Monopolistic Practices Under Fire While Google’s AI investments in India are gaining momentum, the company is facing intense legal scrutiny over its dominant position in the global digital advertising market. Google’s Position: Innovation vs. Market Power TH 3. ISRO Conducts Successful Semi-cryogenic Engine Hot Test Context: The Indian Space Research Organisation (ISRO) successfully carried out a short-duration hot test of its semicryogenic engine at the ISRO Propulsion Complex (IPRC) in Mahendragiri. This significant milestone follows the first successful hot test conducted on March 28, marking a major advancement in ISRO’s semicryogenic engine program. Test Details: Semi-cryogenic Engine A semi-cryogenic engine is a liquid rocket engine that uses liquid oxygen (LOX) as an oxidizer and refined kerosene as fuel. Unlike fully cryogenic engines which use liquid hydrogen and liquid oxygen, semi-cryogenic engines offer advantages in terms of storage, handling, and cost-effectiveness due
INSPACe Initiative: Satellite Bus as a Service (SBaaS)
Context: India’s Indian National Space Promotion and Authorization Centre (INSPACe) has launched a new initiative aimed at reducing the country’s import dependence and fostering innovation in the space sector. The Satellite Bus as a Service (SBaaS) program invites private companies to design and develop satellite bus platforms for small satellite missions, which will support multiple payload applications. Key Highlights of the SBaaS Initiative Vision for India’s Space Sector Pawan Goenka, Chairman of INSPACe, emphasized the importance of the SBaaS initiative in democratizing India’s space sector and positioning the country as a global service provider for small satellite bus and hosted payload services. Rajeev Jyoti, Director of Technical Directorate at INSPACe, highlighted that this initiative would streamline access to flight platforms, making the development cycle for space technologies faster and more efficient. India’s Space Industry INSPACe’s SBaaS initiative marks a significant step toward making India a global leader in satellite services. By encouraging innovation and private sector involvement, India is reducing its dependency on imports while enhancing its space capabilities. This initiative not only supports the growth of emerging space technologies but also positions India as a hub for global satellite bus solutions in the years to come. BS
Genome India Data
Context: On January 9, 2025, the Department of Biotechnology (DBT) issued a call for proposals for translational research using Genome India data, targeting India-based scientists. The original submission deadline of February 28, 2025, was later extended to March 31, 2025. About the Genome India Project Key Issues Raised Government Response: Accessibility Disparity: Significance: TH
Google’s Expansion of AI in India
Context: Google is accelerating its AI integration across key areas like search, advertising, and YouTube in India, one of its fastest-growing digital markets. The company’s AI-driven tools aim to revolutionize advertising by improving consumer targeting and creating more engaging formats, particularly through YouTube and Google Search. AI-Powered Advertising: Driving Growth in India Monopolistic Practices Under Fire While Google’s AI investments in India are gaining momentum, the company is facing intense legal scrutiny over its dominant position in the global digital advertising market. Google’s Position: Innovation vs. Market Power TH
ISRO Conducts Successful Semi-cryogenic Engine Hot Test
Context: The Indian Space Research Organisation (ISRO) successfully carried out a short-duration hot test of its semicryogenic engine at the ISRO Propulsion Complex (IPRC) in Mahendragiri. This significant milestone follows the first successful hot test conducted on March 28, marking a major advancement in ISRO’s semicryogenic engine program. Test Details: Semi-cryogenic Engine A semi-cryogenic engine is a liquid rocket engine that uses liquid oxygen (LOX) as an oxidizer and refined kerosene as fuel. Unlike fully cryogenic engines which use liquid hydrogen and liquid oxygen, semi-cryogenic engines offer advantages in terms of storage, handling, and cost-effectiveness due to the use of kerosene, which is lighter, more easily storable, and less expensive than liquid hydrogen. Purpose and Future Plans NASA-ISRO Synthetic Aperture Radar (NISAR) Satellite Launch Preparations TH
Sarvam AI
Context: Bengaluru-based Sarvam AI will be the first startup to receive official government support for developing an indigenous large language model (LLM), Union IT Minister Ashwini Vaishnaw announced. The announcement was made during the launch of the Electronics Component Manufacturing Scheme (ECMS) guidelines. Large Language Model (LLM) A Large Language Model (LLM) is a type of artificial intelligence (AI) program trained on vast amounts of text data to understand and generate human-like text. They are capable of tasks like language translation, text summarization, and answering questions based on their knowledge. Support Under IndiaAI Mission About Sarvam AI’s LLM Government Initiatives for AI Development: Significance: TET
RBI Imposes Penalties on Indian Bank and Indian Overseas Bank
Context: The Reserve Bank of India (RBI) has imposed a monetary penalty of over ₹1.61 crore on Indian Bank and ₹63.60 lakh on Indian Overseas Bank (IOB) for non-compliance with its regulatory directions. Details of Non-Compliance Bank’s Response: Significance: TH