11th September, 2024 Current Affairs

International

World's largest low-carbon hydrogen facility

• Abu Dhabi National Oil Company (ADNOC) and ExxonMobil have announced a groundbreaking partnership to develop the world's largest low-carbon hydrogen facility. This ambitious project, to be located in Baytown, Texas, represents a major milestone in the global push for sustainable energy production and efforts to combat climate change.

International Solar Alliance (ISA)

• Nepal has officially become the 101st country to join the International Solar Alliance (ISA) as a full member. The Ministry of External Affairs announced that Nepal submitted its Instrument of Ratification to the ISA in New Delhi on 9th September.

Bilateral

Nuclear Cooperation

• India and the United Arab Emirates (UAE) have significantly advanced their strategic partnership by signing five landmark agreements in key sectors such as nuclear energy, fossil fuels, and food security. These pacts were formalized during a high-level meeting between Abu Dhabi Crown Prince Sheikh Khaled bin Mohamed bin Zayed Al Nahyan and Indian Prime Minister Narendra Modi in New Delhi.
• Among the agreements, a standout is the Memorandum of Understanding (MoU) concerning the Barakah Nuclear Power Plant's operations and maintenance. This pact was signed between the Emirates Nuclear Energy Company and the Nuclear Power Corporation of India Limited, marking a significant step in nuclear collaboration between the two nations.

YUDH ABHYAS-2024

• The 20th edition of the India-USA Joint Military Exercise, YUDH ABHYAS-2024, began on September 9, 2024, at the Foreign Training Node in Mahajan Field Firing Ranges, Rajasthan. This annual exercise, which alternates between India and the USA since its inception in 2004, is scheduled to continue until September 22, 2024. This year's edition is notable for its significant expansion in scale and sophistication compared to previous iterations.

National

Partnerships for Accelerated Innovation and Research

• The central government is set to launch the Partnerships for Accelerated Innovation and Research (PAIR) programme, aimed at enhancing research capabilities in higher education institutions (HEIs). The initiative will link top-tier research institutions with those that have limited research capabilities, fostering a collaborative mentorship environment to boost innovation and research output.

Jatayu Conservation and Breeding Centre 

• Uttar Pradesh Chief Minister Yogi Adityanath has inaugurated the Jatayu Conservation and Breeding Centre in Bharivaisi, located in the Campierganj Range of the Gorakhpur Forest Division. This facility is the world’s first dedicated center for the conservation and breeding of the Asian King Vulture, also known as the red-headed vulture.

Science & Technology

• Researchers have discovered a new species related to turmeric from the ginger family, belonging to the genus Curcuma, in Ungma village, located in the Mokokchung district of Nagaland.

Two new vessels

• Cochin Shipyard achieved a major milestone in India's naval defense by launching two new Anti-Submarine Warfare Shallow Water Craft (ASW-SWC) vessels, part of the Mahe Class ASW-SWC project.

Malpe: The fourth ship in the Mahe Class
Mulki: The fifth ship in the Mahe Class

Global 5G smartphone market

• According to a report by Counterpoint Research, India has surpassed the United States to become the world's second-largest market for 5G smartphones. China remains the leader with a commanding 32% market share. India has climbed to second place, securing a notable 13% share, while the United States has fallen to third position, holding 10% of the global 5G smartphone market.
• Apple dominates with over 25% share in the 5G handset market and Samsung with more than 21% market share.

Economy
 India’s GDP growth

• The International Monetary Fund (IMF) has raised its forecast for India’s GDP growth in FY2024-25 to 7%, up by 20 basis points from its earlier estimate of 6.8%.

Morgan Stanley Capital International (MSCI)

• India has surpassed China in the Morgan Stanley Capital International (MSCI) Emerging Markets Investable Market Index (EM IMI) with a weightage of 22.27%, overtaking China's 21.58%.

VisioNxt Fashion Forecasting Initiative

• The Union Minister of Textiles, Shri Giriraj Singh, recently unveiled the 'VisioNxt Fashion Forecasting Initiative,' a groundbreaking project developed by the National Institute of Fashion Technology (NIFT). This launch also featured the introduction of a bilingual web portal and the India-specific Fashion Trend Book 'Paridhi 24×25,' marking a significant milestone for India's fashion and textile industry.

Published date : 12 Sep 2024 10:54AM