Context: Former U.S. President Donald Trump announced a plan to impose a 25% tariff on any country purchasing oil and gas from Venezuela. The tariff would apply to all trade those countries conduct with the United States. The measure is set to take effect from April 2, 2025, as per Trump’s statement on his social media platform. Reason Behind the Move Impact on Global Trade Recent U.S. Actions Political Context Legal Action Against Venezuelan Gangs
Daily Current Affairs (DCA) 23&24 March, 2025
Daily Current Affairs Quiz23&24 March, 2025 International Affairs 1. India Imposes Anti-Dumping Duty on Five Chinese Goods Context: The Indian government has imposed anti-dumping duties to protect domestic industries from cheap imports from China. These goods were found to be exported at below-normal prices, hurting domestic manufacturers. Anti-Dumping Duty Anti-dumping duties are imposed by countries to protect domestic industries from a surge in imports at unfairly low prices, in accordance with the rules set by the World Trade Organization (WTO). India has previously imposed similar duties on various products to counteract cheap imports from countries like China. Products Facing Anti-Dumping Duty Authority and Process Strategic Implications India’s imposition of anti-dumping duties on five Chinese goods reflects its proactive trade defense strategy to protect domestic industries from unfair pricing and import surges. With these duties in place for up to five years, the move is expected to boost local manufacturing, reduce dependency on cheap imports, and encourage fair competition in key industrial sectors. 2. US Industry Groups Urge Tariff Reduction Context: Prominent U.S. industry associations, including the US Chamber of Commerce (USCC), Coalition of Services Industries (CSI), and companies like Harley-Davidson, have urged the Trump administration to pressure India into reducing tariffs and regulatory barriers. The call comes ahead of the US Trade Representative’s (USTR) review of unfair trade practices and the announcement of reciprocal tariffs. Key Demands from US Industry Associations a) Pharmaceuticals and Healthcare b) Consumer Goods c) Automotive Sector d) Financial Services & Digital Sector Additional Policy Recommendations Strategic Implications The strong push from US industry lobbies signals heightened trade friction over high tariffs, local content rules, and market access restrictions in India. As the U.S. evaluates reciprocal tariffs, these industry demands could shape upcoming bilateral trade negotiations and influence the trajectory of India-US trade relations. 3. Brazil’s COP30 Context: Brazil, the host of COP30, is prioritizing the implementation of the Paris Agreement to achieve the collective goal of slowing global warming. Key Highlights India’s Role and Strategic Partnership Addressing Global Challenges National Affairs 1. Launch of Tavasya Context: Tavasya, the final of four follow-on Krivak-class stealth frigates contracted from Russia and the second to be built at Goa Shipyard Ltd. (GSL), was launched. The launch ceremony was conducted by Ms. Neeta Seth, with Union Minister of State for Defence, Sanjay Seth, present. Background Project Progress Technical Details Strategic Importance 2. India-France Naval Exercise Varuna 2024 Context: India and France deployed their aircraft carriers INS Vikrant and Charles de Gaulle for the bilateral naval exercise Varuna from March 19 to 22, 2024, off the coast of Goa. The exercise offered India a valuable opportunity to closely observe and operate the French Navy’s Rafale-M fighter jets, which India is set to acquire soon. The joint exercise also placed significant emphasis on anti-submarine warfare (ASW) operations. Key Highlights of the Exercise Operational Features Strategic Importance French Deployment 3. Kerala Launches ‘Look East’ Campaign Context: Kerala’s foreign tourist arrivals stand at only 62% of pre-pandemic levels. Despite being Asia’s largest outbound travel market, China contributes almost no visitors to Kerala. ‘Look East’ Tourism Strategy Key Initiatives Under the Campaign Focus Areas for Kerala Tourism Way Forward 4. PLI Schemes in India Context: The Centre’s Production-Linked Incentive (PLI) schemes, aimed at boosting manufacturing across 14 key sectors, have attracted ₹1.61 lakh crore in investments and generated sales worth ₹14 lakh crore, according to the Ministry of Commerce. Incentives and Disbursement Export Growth Driven by PLI Government Counters Reuters Report Steel Sector Concerns PLI schemes are driving India’s shift toward high-value manufacturing and export growth. While some delays and project adjustments exist, the government maintains confidence in the long-term success of the schemes. The evolving PLI impact on sectors like electronics, pharmaceuticals, food processing, and telecom highlights India’s push for self-reliance and global competitiveness. 5. Influenza Cases Surge in Delhi-NCR Context: Newspapers on March 7-8, 2025 reported a 54% spike in influenza cases in the Delhi-NCR region. The reports were based on a LocalCircle survey of 13,000 people, focused on viral illness symptoms and not clinical testing. Despite the survey mentioning “viral illnesses (Covid/flu/viral fever),” reports attributed the spike primarily to influenza. Official Data on Influenza Cases Burden of Influenza in India Vaccination Recommendations and Challenges Vaccine Uptake: Global vs India Current Market Trends and Production Capacity Key Takeaways 6. Study Challenges Infant Memory Assumptions Key Findings Understanding Infantile Amnesia The Study: Method and Results Implications of the Research Conclusion TH 7. Tuberculosis (TB) Trends and Performance in India Decline in TB Incidence and Mortality Treatment Success Rates by TB Category State-Level TB Performance: TB Index Catastrophic Health Expenditure in India Health Coverage vs. Out-of-Pocket Costs TH 8. Scientists Discover Four Scorpion Species Context: In the first systematic survey conducted in Delhi, scientists have documented four scorpion species inhabiting both urban and forested parts of the city’s semi-arid ecology. Key Findings Collection Methodology Significance of the Study Source: TOI Banking/Finance 1. Why Banking IPOs in India Have Been a Poor Investment Context: In India’s fast-growing yet inflation-prone economy, parking cash idly may seem like a bad idea but worse has been investing in bank IPOs over the past decade. Despite the bullish sentiment, the long-term performance of most newly listed banking stocks has been dismal. Key Market Reality Disappointing Performance Across Smaller Private Banks IPO Success Rate The Power of Scale The past decade has shown that scale and established market presence are the keys to success in banking investments. For most investors, it’s safer to invest in the index rather than speculate on small and mid-cap banks. 2. Terrorism Risk Insurance Premiums Set to Fall in India Context: From April 1, premiums for terrorism risk insurance are expected to drop by 10-15%. This move comes as state-owned reinsurer GIC Re reduces rates for the terrorism risk insurance pool. Background Pool Structure and Limits Reason for Rate Reduction Pool Financials (FY24) Impact on Customers and Corporates Regulatory Approval After a decade of stable rates and low claims, GIC Re’s terrorism risk insurance premium
Facts To Remember, 23&24 March 2025
1. Nitish flags off Bihar Divas events showcasing heritage The five-day Bihar Divas celebrations began in the historic Gandhi Maidan here with Chief Minister Nitish Kumar formally inaugurating the event. 2. Walker Priyanka sets 35km National record Commonwealth Games medallist race walker Priyanka Goswami set a National record in women’s 35km during the Dudinska 50 competition in Dudince, Slovakia. 3. Iniyan reigns in National rapid chess championship GM Pa. Iniyan of Tamil Nadu won the National rapid chess championships in Ranchi on Sunday. The 22-year-old scored nine points, remaining undefeated with seven wins and four draws. 4. Agri Min Urges Transfer of Farm Tech from Labs to Fields Agriculture minister Shivraj Singh Chouhan Saturday emphasised the need for faster transfer of farm technologies from labs to the fields to benefit farmers. 5. Kotak Mahindra Bank appoints Bhavnish Lathia as CTO Kotak Mahindra Bank’s board of directors, at their meeting on Saturday, appointed Bhavnish Lathia as the new Chief Technology Officer (CTO) and Vyomesh Kapasi as a member of the Group Management Council. 6. Govt notifies revised criteria for classifying MSMEs The government has notified significant revisions to turnover and investment criteria for classifying MSMEs that will take effect from April 1. 7. ₹144 Crore Disbursed to Farmers for Border Fencing Land: CM Omar Abdullah In Jammu and Kashmir, Chief Minister Omar Abdullah today said that over 144 crore Rs. have been disbursed to farmers whose lands were affected by fencing along the International Border (IB). 8. India clinches both Men’s & Women’s Kabaddi World Cup 2025 India has clinched both the Men’s and Women’s Kabaddi World Cup 2025 at Wolverhampton in England. The Men’s team defeated the home side England in the final match 44-41. 9. Khelo India Para Games: Jaspreet Kaur Sets National Record, Thrilling Wins in Powerlifting, Athletics, Shooting & Archery The fourth day of the Khelo India Para Games brought excitement with tough games from powerlifters, athletes, archers, and shooters. 10. India Wins Silver in Women’s Doubles, Bronze in Men’s at ISTAF Sepak Takraw World Cup 2025 In the Doubles events category of the ISTAF Sepak Takraw World Cup 2025 at Patna, the Indian Women’s team showcased splendid gameplay by winning the silver medal. 11. FPIs Slow Down Equity Outflows, Boost Debt Investments Amid Market Rebound After nearly three months of relentless selling, Foreign Portfolio Investors (FPIs) moderated their outflows from Indian equities last week, contributing to a sharp rebound in the stock markets, buoyed by easing global concerns and growing optimism around a potential de-escalation in the Russia-Ukraine conflict. 12. Sagar Katale Wins Gold in Khelo India Para Games Shooting; Avani Lekhara Shines In the shooting competitions being held under Khelo India Para Games at the Dr Karni Singh Shooting Range in New Delhi, Sagar Balasaheb Katale has clinched the gold medal in the 10M Air Rifle Prone Mixed SH1 category. Mona Agarwal secured silver, while Deepak Saini claimed the bronze medal in this category. 13. Nation Remembers Bhagat Singh, Rajguru & Sukhdev on Martyrs’ Day; PM Modi Pays Tribute The Nation is paying homage to the three of its heroic revolutionaries of the Indian freedom struggle – Shaheed-E-Azam Bhagat Singh, Shivaram Rajguru and Sukhdev Thapar – who were executed at the Central Jail in Lahore on this day in 1931.
Lulu Group Launches Global Agricultural Production Initiative in Pollachi
Project Overview Key Highlights of the Initiative Commitment to Quality and Sustainability Integrated Farming Approach Through this initiative, Lulu Group is not only expanding its global supply chain with high-quality, farm-fresh produce but also contributing to the empowerment of local farmers and promoting sustainable, integrated farming practices in India. Source: Business Line
PDRL Launches Ag++ Flight Controller for Agri-Drones
Context: PDRL, a key player in the Indian drone industry, has filed three additional patents. These filings bring PDRL’s total filings to six, including one already granted. Key Developments Focus on Agricultural Innovation Launch of ‘Ag++’ Flight Controller With ongoing patent filings and the launch of cutting-edge solutions like Ag++, PDRL continues to establish itself as a leader in India’s agricultural drone ecosystem, fostering innovation, operational reliability, and growth in agri-tech. Business Line
Parliamentary Panel Urges Increased Fertilizer Budget and Expansion of Nano Fertilizer Production
Context: The Parliamentary Standing Committee on Chemicals and Fertilizers, chaired by Trinamool Congress MP Kirti Azad, has made several significant recommendations in its recent report on the Demands for Grants for 2025-26: Concerns Raised by the Committee Strategic Recommendations The committee’s report highlights the critical need for: These steps are pivotal to supporting Indian farmers, ensuring food security, and driving the country toward fertilizer self-reliance in line with the vision of Aatmanirbhar Bharat.
SEBI Board to Discuss Conflict-of-Interest Disclosure Framework
Context: The Securities and Exchange Board of India (SEBI) is set to hold its first board meeting under new chairman Tuhin Kanta Pandey on March 24. Key topics on the agenda: Background Expected Disclosure Framework Other Key Proposals on the Board’s Agenda a. Appointment Process for Key Management at MIIs b. Easing Rules for FPIs This meeting will be a significant test of leadership for Tuhin Kanta Pandey, as SEBI seeks to:
Impact of Donald Trump’s Policies
Context: More than two months into Donald Trump’s presidency, both U.S. citizens and global stakeholders continue to grapple with the implications of his policies. Early economic projections from the U.S. Federal Reserve reflect growing uncertainty in key macroeconomic indicators. Federal Reserve Projections Trade and Tariff Uncertainty Broader Policy Concerns Implications for India The Trump administration’s policies, particularly on trade and immigration, are likely to continue disrupting global economic stability. While markets have adjusted to some extent, long-term clarity will only emerge once trade-related uncertainties are resolved. For India, proactive engagement and preparedness will be key in navigating this volatile g
A Cautious Optimism
Key Positive Indicators a) Rupee Stabilisation b) Softening Inflationary Pressures Implications for the Economy Risks and External Threats Policy Recommendations While the strengthening rupee, increasing forex reserves, and easing inflation present a welcome change, it is essential for policymakers to exercise caution. A focus on macroeconomic fundamentals, disciplined fiscal policies, and proactive risk management will ensure that India’s growth trajectory remains resilient in the face of external uncertainties. The Indian Express
P2P Lending Slows
Context: The peer-to-peer (P2P) lending industry in India is facing a significant slowdown after the Reserve Bank of India (RBI) imposed stringent regulatory actions in 2024. Key Regulatory Actions Impact on Business Models and Fintech Partnerships Rising Bad Loans and Investor Concerns The Indian P2P lending sector is grappling with regulatory overhang, shrinking AUM, and rising bad loans. Key platforms are facing existential threats as the RBI’s stricter compliance framework disrupts business models and fintech partnerships. The industry’s recovery will depend on future regulatory clarity, particularly around secondary market transactions and investor protection measures.
