21st December, 2024 Current Affairs

NATIONAL
Aatmanirbhar Bharat Boost: MoD Contracts L&T for K9 VAJRA-T Guns

• In a significant move towards enhancing the firepower of the Indian Army and advancing the goals of Aatmanirbhar Bharat, the Ministry of Defence (MoD) signed a Rs 7,628.70 crore contract with Larsen & Toubro Limited (L&T).
• The procurement involves 155 mm/52 calibre K9 VAJRA-T Self-Propelled Tracked Artillery Guns, a cutting-edge addition to India’s artillery fleet.
• The agreement was signed in the presence of Defence Secretary Shri Rajesh Kumar Singh at South Block, New Delhi, marking a key milestone in India’s defence modernization and indigenous manufacturing capabilities.

INTERNATIONAL
24th BIMSTEC Senior Officials Meeting (SOM)

• India participated in the 24th BIMSTEC Senior Officials Meeting (SOM), hosted virtually by Thailand on December 20, 2024. Jaideep Mazumdar, Secretary (East) from the Ministry of External Affairs (MEA), represented India during this important session.
•  The meeting reviewed the progress made by BIMSTEC (Bay of Bengal Initiative for Multi-Sectoral Technical and Economic Cooperation) since the last SOM in March 2023 and discussed key areas of regional cooperation. Various documents and new mechanisms of cooperation were finalized, and preparations for the upcoming 6th BIMSTEC Summit were also discussed.
• The senior officials reviewed the progress made by BIMSTEC since the previous meeting held in March 2023.
• The discussions focused on priority areas including sustainable development, regional connectivity, security, and people-to-people exchanges.

ECONOMY
$350M India-ADB Loan Agreement Finalized

• The Government of India and the Asian Development Bank (ADB) have signed a $350 million policy-based loan under the second subprogram of the Strengthening Multimodal and Integrated Logistics Ecosystem (SMILE) program.
• This collaboration aims to enhance India’s logistics sector through comprehensive reforms, infrastructure development, and digital integration. By improving logistics efficiency, the initiative seeks to strengthen the manufacturing sector, boost supply chain resilience, reduce costs, and promote sustainable economic growth.
• Stakeholders    
• – Department of Economic Affairs (DEA), Ministry of Finance
• – Department for Promotion of Industry and Internal Trade (DPIIT), Ministry of Commerce and Industry
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• – Asian Development Bank (ADB)

SPORTS
Delhi to Host 2025 Para Athletics World Championships

• India is set to host the 2025 Para Athletics World Championships, marking a historic moment for the country as it becomes the first time this prestigious event will be held in India. The competition is scheduled to take place between September 26 and October 5, 2025, at the Jawaharlal Nehru Stadium in New Delhi.
•  This event will be the 12th edition of the Para Athletics World Championships and the fourth time it is being held in Asia. More than 1,000 athletes from over 100 nations are expected to participate in this landmark event, which will also serve as a critical qualifier for the 2028 Los Angeles Paralympic Games.
• The 2025 Para Athletics World Championships is seen as a key step in India’s strategy to host the 2029 World Athletics Championships and its broader ambitions to bid for the 2036 Olympics.