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NATIONAL AFFAIRS
PM Narendra Modi Embarks on a 3-day Visit to MP, Bihar & Assam
The Prime Minister (PM) of India Narendra Modi embarked on a 3-day visit to Madhya Pradesh (MP), Bihar, and Assam from February 23 to 25, 2025.
- During his visit, the PM inaugurated and laid the foundation for key infrastructure projects, attended important summits, and participated in cultural programs aimed at promoting the development and welfare of each state.
i.PM Narendra Modi laid the foundation stone for the ‘Bageshwar Dham Medical and Science Research Institute’ in Garha village, Chhatarpur district, MP and inaugurated the ‘Global Investors Summit (GIS) 2025’ in Bhopal, MP.
ii.In Bihar, PM Narendra Modi launched the ‘19th installment of the Pradhan Mantri Kisan Samman Nidhi (PM-KISAN) Scheme’, providing financial support to farmers nationwide.
iii.While in Assam, PM Narendra Modi attended the ‘Jhumoir Binandini (Mega Jhumoir) 2025’ and inaugurated the ‘Advantage Assam 2.0 Summit 2025’ in Guwahati, Assam.
>> Read Full News
SWAYATT Initiative on GeM Celebrated 6 Years of Transformative Impact
In February 2025, Government e-Marketplace (GeM), Department of Commerce(DoC), Ministry of Commerce and Industry(MoC&I) celebrated 6 years of Startups, Women & Youth Advantage through e-Transactions (SWAYATT) initiative at its headquarters in New Delhi, Delhi.
- The initiative was launched on 19th February, 2019 by the MoC&I, which aimed to promote the participation of women-led enterprises and youth in public procurement.
i.It is part of GeM’s foundational pillar of social inclusion which is committed to improve ease of doing business and establish direct market linkages to annual procurement for startups, women entrepreneurs, Micro, Small and Medium Enterprises (MSMEs), Self-Help Groups (SHGs) and youth, especially those from backward sections of the society.
ii.During the event, GeM signed a Memorandum of Understanding (MoU) with New Delhi (Delhi)-based FICCI-Ladies Organisation (FLO), a division of Federation of Indian Chambers of Commerce & Industry(FICCI).
- Through this MoU, GeM aims to provide direct access for women entrepreneurs with government buyers, sans intermediaries, will further ensure better product prices, generating job opportunities and promoting inclusive growth.
About Federation of Indian Chambers of Commerce & Industry Ladies Organisation (FICCI-FLO):
President- Joyshree Das Verma
Headquarters- New Delhi, Delhi
Established- 1983
>> Read Full News
CUNPK Hosts First-Ever ‘Conference For Women Peacekeepers From Global South’ In New Delhi
The Indian Army (IA), through the Centre for United Nations Peacekeeping (CUNPK), India hosted the first-ever ‘Conference on Women Peacekeepers from the Global South’ at the Manekshaw Centre in New Delhi (Delhi) from February 24 to 25, 2025. The conference was organized by the Ministry of External Affairs (MEA) in collaboration with the Ministry of Defence (MoD).
- The theme of the Conference is “Women in Peacekeeping: A Global South Perspective”.
- The conference united women peacekeepers from 35 leading Troop Contributing Countries (TCCs) from the Global South, senior policymakers from the United Nations (UNs).
- The conference featured sessions on topics such as addressing sexual exploitation and abuse, leveraging technology in peacekeeping, and promoting regional cooperation among Global South nations.
Key Dignitaries:
i.President of India, Droupadi Murmu and External Affairs Minister (EAM) Subrahmanyam Jaishankar participated and delivered the keynote address in the Conference.
ii.The UN was represented by Jean-Pierre Lacroix, UN Under-Secretary-General (SG) and Christian Saunders, UN Special Coordinator.
India’s Pioneering Role in UN Peacekeeping Operations:
i.India has been a key contributor to UN peacekeeping missions for over 70 years, providing nearly 300,000 troops across 50 missions since the 1950s.
ii.A pioneer in deploying women peacekeepers, India became the first country to contribute an all-women Formed Police Unit (FPU) in 2007, serving in Liberia until 2016.
- Dr. Kiran Bedi was the first female UN Police Advisor, serving from 2003 to 2005.
About Centre for United Nations Peacekeeping (CUNPK):
i.CUNPK is an Indian institution dedicated to enhancing India’s contributions to UN peacekeeping operations.
ii.CUNPK was established in 2000 by the IA, with encouragement from the UN Department of Peacekeeping Operations (DPKO) and was later nurtured at the United Service Institution (USI) of India, with support from the MEA and the Armed Forces.
iii.CUNPK offers comprehensive training programs for military personnel, both Indian and International, focusing on various aspects of UN peacekeeping.
>> Read Full News
MoSPI & MyGov Announces ‘Innovate with GoIStats’ Hackathon
On February 25, 2025 The Ministry of Statistics and Programme Implementation (MoSPI), in partnership with MyGov, is set to launch an exciting data-visualization hackathon, “Innovate with GoIStats,” from 25 February to 31 March 2025.
- The theme of the hackathon is “Data-Driven Insights for Viksit Bharat”.
- The hackathon aims to inspire students and researchers in India to use the extensive official data produced by the National Statistics Office (NSO) to create innovative data-driven insights.
i.The hackathon will encourage participants to explore and analyse official statistics from the reports, microdata, and other datasets on the Ministry’s website, such as the Periodic Labour Force Survey (PLFS), Household Consumer Expenditure Survey (HCES), Annual Survey of Industries (ASI), Consumer Price Index (CPI), Gross Domestic Product (GDP).
- They will create impactful visualizations to support evidence-based policymaking for Viksit Bharat.
ii.The Hackathon will take place on the MyGov platform. Participants may be undergraduate (UG), postgraduate (PG), or research students.
iii.A panel of industry and academic experts will choose the top 30 entries and will get prize money.
- The first prize will be Rs 2 lakh, followed by two second prizes of Rs 1 lakh each, two third prizes of Rs 50,000 each, and twenty-five consolation prizes of Rs 20,000 each.
India and UK Resumed Negotiations for FTA, Aims to Triple Bilateral Trade in 10 Years
In February 2025, Union Minister Piyush Goyal, Ministry of Commerce & Industry (MoC&I) and Jonathan Reynolds, Secretary of State for the Department for Business and Trade, the United Kingdom (UK) have announced the resumption of negotiations for the proposed Free Trade Agreement (FTA) between the two countries in New Delhi, Delhi.
- This FTA is estimated to double or even triple bilateral trade from the current USD 20 billion in the next 10 years.
- Other than FTA, both countries are negotiating on Bilateral Investment Treaty (BIT) and a social security agreement called ‘Double Contribution Convention Agreement’.
Note: A Free trade Agreement (FTA) is an agreement between two or more countries where the countries agree on certain obligations that affect trade in goods and services, and protections for investors and intellectual property rights, among other topics.
Background:
i.The negotiations for FTA between India and the UK started on January 13, 2022 under then UK’s PM Boris Johnson.
ii.So far, 14 rounds of negotiations have taken place between the two countries.
- The 14th round of FTA talks was began in January 2023 and paused in May 2024 due to the UK general elections.
iii.In November 2024, Prime Minister (PM) Narendra Modi and Keir Starmer, PM of UK met on the sidelines of the Group-20 (G-20) Summit held in Rio de Janerio, Brazil. During their meeting, leaders of both countries agreed to resume FTA negotiations.
Trade between India and UK:
i.The trade between India and the UK has increased from USD 20.36 billion in the Financial Year 2022-23 (FY23) to USD 21.34 billion in FY24.
ii.The UK emerged as 6th largest investor in India contributing USD 35.3 billion between April 2000 and September 2024.
iii.The bilateral trade is valued at GBP 41 billion and provides more than 6 lakh job opportunities across both countries.
iv.As per the UK government, India is the 2nd largest source of Foreign Direct Investment (FDI) into the UK over the last 5 years, with a 28% Year-on-Year (Y-o-Y) increase in investment.
About the United Kingdom (UK):
Prime Minister (PM) – Keir Starmer
Capital- London
Currency- British Pound Sterling (GBP)
IIT Madras Unveils India’s First Hyperloop Test Track
In February 25, 2025, India achieved a major milestone in transportation with the unveiling of the first hyperloop test track at Indian Institute of Technology (IIT) Madras in Chennai (Tamil Nadu,TN). The 422-meter (m)-long facility was developed with the support of the Ministry of Railways (MoR).
- It is part of a broader initiative to develop a full-scale Hyperloop system, with the Mumbai-Pune corridor being a prime candidate for the first commercial project.
Note: Hyperloop Technology was first proposed by Elon Musk in 2013, aiming to revolutionize long-distance travel by significantly reducing travel times.
About First Hyperloop Test Track:
i.The hyperloop technology uses a magnetically levitated pod inside a vacuum tube to eliminate friction and air resistance and could reduce travel time between New Delhi(Delhi) and Jaipur( Rajasthan)(around 300 kilometer, km) to just 30 minutes.
ii.This high-speed transport system promises advantages such as weather immunity, collision-free travel, speeds twice that of airplanes, and low energy consumption.
Key Technologies of the Hyperloop System:
i.The Hyperloop is a high-speed transportation system that involves moving capsules or pods through vacuum-sealed tubes at speeds of up to 1,100 km/hour (h).
ii.The key technologies of the hyperloop system include:
- Vacuum Tubes: The pods move through tubes that are evacuated to create a near-vacuum environment, significantly reducing air resistance and enhancing speed.
- Electromagnetic Propulsion: The system uses linear induction motors or magnetic levitation technology to propel the pods at incredible speeds, ensuring smooth and fast travel.
- Capsules: The passenger and cargo pods are designed for safety and comfort, equipped with advanced life support systems to ensure a secure travel experience.
Points to Note:
i.The MoR has already granted Rs. 8.7 crore (approximately USD 1 million) twice to the university for the project’s development.
ii.To further accelerate the project’s development, IIT Madras receive a USD 1 million grant from the Ministry, the third of its kind.
INTERNATIONAL AFFAIRS
Denmark Launches GTAI to Strengthen Sustainable Energy Collaboration
On February 25, 2025, Denmark launched the Green Transition Alliance India (GTAI), a strategic initiative aimed at enhancing collaboration between Denmark and India in sustainable energy solutions. This partnership underscores both nations’ commitment to achieving global carbon neutrality.
- The primary goal of GTAI is to establish a collaborative ecosystem that connects businesses, government agencies, researchers, and financial stakeholders from both Denmark and India.
- This alliance seeks to drive innovation and contribute to the environmental objectives of both countries.
Key Participants:
i.Prominent Danish based Corporations including Grundfos Holding A/S, Copenhagen Infrastructure Partners, Baettr, Novonesis, MASH Makes, Rockwool A/S and A.P. Moller – Maersk A/S, have joined the GTAI.
ii.Strategic partners such as the Mumbai (Maharashtra) based Global Wind Energy Council (GWEC), the Chennai (Tamil Nadu, TN) based Indian Institute of Technology (IIT) Madras Energy Consortium and the Denmark based Indo-Danish Chamber of Commerce (IDCC) & Confederation of Danish Industry (DI).
Key Points:
i.India has set an ambitious target to achieve net-zero emissions by 2070. In contrast, Denmark aims for the same goal by 2045.
ii.The establishment of GTAI represents a significant step under the Green Strategic Partnership (GSP) established in 2020, reflecting both countries’ dedication to addressing climate change and promoting sustainable energy practices.
iii.GTAI was established as a strategic platform to bring together leading players in the global green transition, drawing inspiration from the successful Green Fuels Alliance India (GFAI) and Wind Alliance India (WAI).
- This alliance aims to support India’s ambitious climate goals by fostering collaboration among various sectors.
iv.GTAI will operate through 3 working groups focusing on Renewable Energy (RE), Green Fuels, and Energy Efficiency (EE).
- These groups aim to keep pace with evolving industry trends in both Denmark and India, fostering a dynamic and responsive approach to sustainable energy challenges.
v.This initiative marks a significant milestone to promote sustainable energy solutions and underscores the importance of international collaboration in achieving global environmental goals.
About Denmark:
Prime Minister (PM)– Mette Frederiksen
Capital- Copenhagen
Currency- Danish Krone (DKK)
BANKING & FINANCE
HDFC Bank Launches India’s First Salary Account ‘Anmol Savings Account’ for PSU Employees
In February 2025, Mumbai(Maharashtra) based HDFC Bank Limited, India’s leading private sector bank, launched India’s first Public Sector Undertaking (PSU) Salary Account with a cyber fraud protection ‘Anmol Savings Account’.
- As a part of the ‘Speciale’ suite of savings accounts, caters to a variety of clients, including women, working professionals, and senior citizens.
- HDFC Bank provides cyber fraud cover up to Rs. 1.5 lakhs to senior citizens while the cyber fraud cover ranges from Rs. 25,000-Rs 50,000 for professionals. Similarly, the ‘Speciale Gold Women’ account gives a cancer cover of up to Rs. 5 lakhs for women.
Key Features of Anmol Savings Account:
i.Cyber Fraud Protection: It covers up to Rs 25,000 for account holders.
ii.Family Benefits: It allows up to five family members to open zero-balance salary accounts.
iii.Insurance Coverage: It includes a health insurance plan with Outpatient Department (OPD) benefits, accident insurance of Rs 15 lakh, and top-up plans of up to Rs 30 lakh.
iv.Loan Benefits: It offers additional home loans beyond company-set limits for Maharatna PSU employees.
v.Exclusive Debit Card: It comes with a free Platinum Debit Card, including eight complimentary domestic airport lounge visits per year.
About HDFC Bank:
Managing Director (MD) & Chief Executive Officer (CEO) – Sashidhar Jagdishan
Headquarters – Mumbai, Maharashtra
Established – 1994
Tagline – We Understand Your World
GIFTCL Partners with ZPOSL to Launch Prepaid Citizen Card and VMS
In February 2025, GIFT City (Gujarat) based Gujarat International Finance Tec-City Company Limited (GIFTCL), the global financial services hub, partnered with Hyderabad (Telangana) based Zaggle Prepaid Ocean Services Limited (ZPOSL), leading Business-to-Business Software-as-a-Service (B2B SaaS) FinTech company to launch a co-branded Prepaid Citizen Card and Visitor Management System (VMS).
- GIFTCL and ZPOSL have a five-year agreement, with possible extensions dependent on future requirements.
i.Prepaid Citizen cards are accepted anywhere in India and provide easy, cashless transactions for all necessary services within GIFT City’s premises.
- It will be a safe digital identity and payment method for everyone in GIFT City, which has a growing population and many workers from different companies.
ii.VMS will track, verify, and regulate visitor access, ensuring enhanced security in the Special Economic Zone (SEZ) area.
- VMS will integrate identity verification, visitor pre-registration, and a simplified check-in/check-out process, allowing only authorized individuals to enter the premises.
PNB signed MoU with ITBP for Financial benefits and Insurance Coverage
In February 2025, New Delhi (Delhi) based Punjab National Bank (PNB) signed a Memorandum of Understanding (MoU) with the Indo-Tibetan Border Police (ITBP) at the ITBP Headquarters in New Delhi (Delhi) to provide special financial benefits and insurance coverage for ITBP personnel, pensioners and their families.
- The Agreement was signed by S.P Singh, General Manager (GM), PNB and Sunil Chander Mamgain, Inspector General (IG), ITBP.
Key Benefits for ITBP Personnel:
Under the partnership, ITBP personnel will receive the following benefits:
i.Personal Accidental Insurance (PAI): Rs. 100 lakhs
ii.Air Accidental Insurance (AAI): Rs. 150 lakhs
iii.Permanent/Partial Disability Coverage: Rs. 100 lakhs
iv.Additional Cover for Death During Operations: Rs. 10 lakhs
v.Cost of Imported Medicines (including transportation): Up to Rs. 10 lakhs
vi.Air Ambulance Cost: Up to Rs. 10 lakhs
Other Benefits:
i.PNB has extended its Rakshak Account benefits to ITBP pensioners who are receiving Pension from PNB, providing them with lifetime PAI coverage of Rs. 50 lakhs and AAI coverage of Rs. 100 lakhs.
ii.PNB has shown its commitment to supporting India’s armed forces, especially the ‘Himveers’ (Personnel) of ITBP, by providing tailored financial products and services.
About Punjab National Bank:
Managing Director (MD) & Chief Executive Officer (CEO) – Ashok Chandra
Headquarters – New Delhi, Delhi
Established – 1895
Tagline – The Name You Can Bank Upon
RBI Reduces Risk Weights for Banks Lending to NBFCs and MFIs
In February 2025, the Reserve Bank of India (RBI) in exercise of the powers conferred by Sections 21 and 35A of the Banking Regulation Act, 1949 reduced the risk weights on the exposure of Scheduled Commercial Banks (SCBs) loans to Non-Banking Financial Companies (NBFCs) and Microfinance Institutions (MFIs).
- RBI has lowered the risk weights of bank loans to NBFCs by 25 basis points (bps), from 125% to 100%, depending on the ratings. This move is expected to enhance credit flow to NBFCs and will improve credit availability in the retail segment.
- The restored risk weight on loans to NBFCs will come into effect on April 1, 2025.
Key Points:
i.As per RBI directions, risk weights for microloans by banks will be 75%, while risk weights for loans for consumption purposes will be 100%, from current 125%.
- In addition to that, microfinance loans extended by Regional Rural Banks (RRBs), and Local Area Banks (LABs) will attract a risk weight of 100%.
- The restored risk weight on loans to MFIs came into force with immediate effect.
ii.RBI has further clarified that microfinance loans which are not consumer type credit and completes certain criteria will be classified under Regulatory Retail Portfolio (RRP).
- Also, banks have been mandated to put in place appropriate policies and Standard Operating Procedures (SOPs) to ensure the compliance of qualifying criteria.
iii.The decrease in risk weights will free maximum Rs 40,000 crore capital, which would mean banks can grant loans up to Rs 4 lakh crore to ‘AAA-rated’ companies.
Background:
i.In November 2023, RBI had increased risk weights for banks loans to NBFCs to 125% (over and above the risk weight associated with the given external rating) in all cases where the extant risk weight as per external rating of NBFCs was below 100%.
- The primary objective of this increased risk weights was to restrict unsecured loans, which had increased 25% in October 2023 compared to previous year.
ii.Also, this increased risk weight of 125% was applicable on consumer credit, including personal loans, but excluding housing loans, education loans, vehicle loans, among others.
Recent Related News:
In January 2025, RBI cancelled the Certificate of Registration (CoR) of Mumbai (Maharashtra)-based NBFC, X10 Financial Services Limited (formerly Abhishek Securities Limited), due to irregularities in its digital lending operations.
- As a result, the company is no longer allowed to operate as an NBFC.
Axis Bank Hosts 9th Edition of ‘Evolve’ to Empower MSMEs
On February 25 2025, Mumbai (Maharashtra) based Axis Bank Limited, one of the largest private sector banks in India, hosted the 9th edition of Evolve, its flagship knowledge-sharing seminar for Micro, Small, and Medium Enterprises (MSMEs) in Bengaluru, Karnataka.
- The event focused on the theme ‘Future-Proofing MSMEs for the New-Age Business’ emphasized the significance of digital transformation, innovation, and operational resilience for MSMEs in a changing business landscape.
- The event saw the participation of over 100 entrepreneurs from Small and Medium Enterprises(SMEs).
ii.This year 2025, the initiative is being hosted in 10 key cities, including New Delhi (Delhi), Mumbai (Maharashtra), Lucknow (Uttar Pradesh, UP), Kolkata (West Bengal,WB), Chennai (Tamil Nadu, TN), Hyderabad (Telangana), Bengaluru (Karnataka), Kochi (Kerala), Indore ( Madhya Pradesh,MP) and Ahmedabad (Gujarat).
ii.’Evolve’ was launched in 2014, a transformative platform for empowering India’s MSMEs, positively impacting over 9,000 entrepreneurs across more than 50 cities.
- Through ‘Evolve’, Axis Bank aims to equip MSMEs with strategies to streamline operations, enhance competitiveness, and expand market reach.
Digit Insurance & KMD Launches India’s First AQI-based Parametric Insurance
In February 2025, Go Digit General Insurance Limited (Digit Insurance) in partnership with K.M. Dastur Reinsurance Brokers (KMD), launched one of India’s first Air Quality Index (AQI)-based parametric insurance policies for migrant labourers affected by construction bans during periods of high air pollution in the Delhi National Capital Region (NCR) region.
- The policy aims to reduce salary losses for construction workers during air pollution-induced construction bans.
i.When Delhi’s AQI rises beyond 400 on more than two occasions, the parametric insurance policy will pay out up to Rs 6,000 for 6,200 migrant workers.
ii.As per the policy, a “strike” occurs when the AQI is above 400 for at least three of the five days prior. Additionally, there must be at least a 25-day gap between strikes.
iii.These bans are frequently implemented through government and court orders to reduce dangerous pollution levels in the region.
iv.Parametric insurance is a simple, efficient, and transparent way to address the financial vulnerabilities of workers caused by environmental challenges in the region.
ECONOMY & BUSINESS
HAL & BEML sign MoU with for Collaboration in Training Programmes
On February 25, 2025, Bengaluru (Karnataka) based Hindustan Aeronautics Limited (HAL) and Bengaluru based BEML Limited (formerly Bharat Earth Movers Limited) signed a Memorandum of Understanding (MoU) to collaborate on leadership and technical training programs aimed at skill development and professional excellence.
- This collaboration aims to enhance technical expertise and managerial leadership within BEML, contributing to the growth and self-reliance of India’s defence manufacturing ecosystem.
- The MoU was signed by Srikantha Sharma, Executive Director (ED) of HMA, and Monideepa Roy, Head of Talent Management at BEML.
Key Aspects of the Collaboration:
i.Training Programs: HAL’s nodal training institute, HAL Management Academy (HMA) will design and deliver induction training, middle and senior management training, specialized workshops, and certification programs in areas such as Six Sigma, Quality, Reliability, Data Analytics (DA), and Industry 4.0.
ii.Additional Initiatives: The partnership will also facilitate industrial visits, knowledge-sharing sessions, joint conferences, internships, and project-based learning opportunities for BEML professionals.
EDF India Partners with CIL & NTPC for PSP and RE Opportunities
In February 2025, New Delhi (Delhi) based EDF India Private Limited, a fully-owned subsidiary of France based Électricité de France SA (EDF) signed the Non-Binding Shareholder Agreement (SHA) term sheet with Kolkata (West Bengal, WB) based Coal India Limited (CIL), an Indian ‘Maharatna’ Central Public Sector Undertaking (CPSU).
- The agreement aims to establish a Joint Venture (JV) to develop Pumped Storage Projects (PSP) alongside other Renewable Energy (RE) projects in India and neighboring countries.
Key Points:
i.EDF India also signed SHA term sheet with NTPC Limited (formerly known as National Thermal Power Corporation Limited), a New Delhi-based ‘Maharatna’ CPSU under the Ministry of Power (MoP), to jointly develop, own, operate, and PSPs and hydro projects integrated with RE initiatives, while also exploring opportunities in the distribution sector.
ii.Under the agreement, NTPC and EDF will establish a Joint Venture Company (JVC) with a 50:50 partnership, subject to receiving the necessary approvals from the Government of India (GoI).
iii.The JVC will independently undertake projects or may establish additional joint ventures and subsidiaries to execute such projects within India and its neighboring countries.
Note: NTPC Limited contributes one-fourth of India’s power requirements with an installed capacity of over 77 gigawatts (GW). The company is committed to achieving 60 GW of renewable energy capacity by 2032.
About EDF India Private Limited:
Chief Executive Officer (CEO) – Federico D’Amico
Headquarters – New Delhi (Delhi)
Founded – 2018
MUFG Bank Limited Completes First Fully-Digital Trade Finance Transaction with TIL at GIFT City
In February 2025, Tokyo (Japan) based MUFG Bank Limited, which is a wholly-owned subsidiary of Mitsubishi UFJ Financial Group, Inc. (MUFG) completed its first fully digitalised trade finance transaction from its GIFT City Branch for a subsidiary of Tata International Limited (TIL), the global trading arm of the Tata Group.
i.MUFG collaborated with the Singapore-based treasury center of TIL to process a USD 15 million Letter of Credit (LC) by utilizing the Contour Network Hub from Xalts.
ii.This digital process requires three hours to complete and includes smooth negotiation, preparation, application, and acceptance. In contrast, a traditional document-based approach would typically extend the process to two days
iii.The digitization of this transaction demonstrates MUFG’s dedication to technological integration in trade finance and marks a substantial improvement in trade efficiency. The bank continues to expand its transaction banking capabilities to provide its customers a better service.
India Set to Become High-Income Nation with USD 23-USD 35 Trillion GDP by 2047: NASSCOM, Bain & Company
In February 2025, Boston, Massachusetts (United States of America, USA)-based management consultant company, Bain & Company, Inc. in collaboration with National Association of Software and Services Companies (NASSCOM) released a report titled ‘India@2047: Transforming India into a Tech-Driven Economy’. As per the report, India is set to become a High-Income Nation (HIN) with a projected Gross Domestic Product (GDP) of USD 23-USD 35 trillion by 2047.
- This growth is mainly be driven by sustained annual growth of 8%-10%, supported by India’s demographic dividend, technological innovation, and sectoral transformation
i.The report has projected that services sector is expected to make up 60% of India’s GDP, while manufacturing will account for 32%, both sectors will become crucial drivers of economic growth.
ii.The report has outlined 5 key sectors such as: electronics, energy, chemicals, automotive, and services, will act as strategic growth levers due to alignment with international trends and scalability.
- These sectors have the potential to address India’s unique challenges and advantages.
About National Association of Software and Services Companies (NASSCOM):
Chairperson- Sindhu Gangadharan
President- Rajesh Nambiar
Headquarters- Noida, Uttar Pradesh (UP)
Established- 1988
>> Read Full News
APPOINTMENTS & RESIGNATIONS
Unilever CEO Hein Schumachar Steps Down, CFO Fernando Fernandez to Succeed
In February 2025, London (the United Kingdom, UK)-based Consumer goods giant Unilever PLC announced that Hein Schumacher who joined the company in July 2023, will step down as Chief Executive Officer (CEO) and Board Director on March 1, 2025 and will leave the company officially on May 31, 2025.
- He will be replaced by Fernando Fernandez, who is currently serving as Unilever‘s Chief Financial Officer (CFO) and Executive Director of the company.
i.Earlier, Fernandez, who was appointed CFO in January 2024, served as President of Beauty & Wellbeing division of Unilever.
- Also, he worked at various positions in the company such as: President of Latin America, CEO of Brazil and CEO of Philippines.
ii.While, Srinivas Phatak who is currently serving as Deputy CFO will assume the role of CFO.
SPORTS
Mohun Bagan Super Giant Wins 2024–25 ISL Shield Title
In February 2025, Mohun Bagan Super Giant (MBSG) football club(also known as Mariners) clinched the 2024–25 Indian Super League (ISL) League Winners’ Shield, finishing the regular season as the top team. The Kolkata-based club secured the Shield with a dramatic 1–0 victory over Odisha FC at Vivekananda Yuba Bharati Krirangan (Salt Lake Stadium), in Kolkata, West Bengal(WB).
- This triumph marked MSBSG’s second consecutive ISL Shield and made them the first team in ISL history to successfully defend the League Winners’ Shield.
Key Points:
i.MSBSG Football Club is leading the league table with 52 points, followed by FC Goa with 42 points, and 3 matches remaining. Even if FC Goa wins all of its remaining games, it will not be able to surpass MSBSG on the points table.
- As a result, Mohun Bagan has been declared the winner of the 2024-25 ISL Winners Shield.
ii.With this win, MSBSG football club qualified for the next Asian Football Confederation(AFC) Champions League Two season.
iii.Goalkeeper Vishal Kaith reached a historic milestone, becoming the first-ever goalkeeper to register 50 clean sheets in ISL history.
About Indian Super League (ISL):
- Founded: 21 October 2013
- Organized by: Football Sports Development Limited(FSDL) in partnership with the All India Football Federation(AIFF).
- Number of clubs : 13 (Mohun Bagan Super Giant, FC Goa, Bengaluru Football Club,Jamshedpur FC,North East United FC,Mumbai City FC,Odisha FC,East Bengal FC,Kerala Blasters Football Club, Punjab FC,Chennaiyin FC, Hyderabad FC, Mohammedan Sporting Club)
- The top team wins the Shield, while the top 6 qualify for playoffs to compete for the ISL Trophy.
About Mohun Bagan Super Giant:
Mohun Bagan Super Giant, commonly referred to as Mohun Bagan, is an Indian professional football club based in Kolkata, West Bengal. Founded in 1889, it is one of the oldest football clubs in Asia.
- Owner: RPSG Mohun Bagan Private Limited(RPSG Group (80%) & Mohun Bagan Athletic Club Pvt. Ltd. (20%))
IMPORTANT DAYS
National Protein Day 2025 – February 27
National Protein Day is observed annually on 27 February across India to raise awareness about the vital role, protein plays in maintaining a healthy diet. The day highlights the importance of protein for overall growth and development, while also promoting the wide variety of protein-rich options available to meet dietary needs.
- February 27 2025, marks the 6th observance of National Protein Day.
Background:
i.National Protein Day, celebrated on February 27, began in India in 2020 with the launch of the “Right to Protein” (RTP), a national-level public health initiative to raise awareness about the importance of adequate protein consumption.
ii.The first-ever National Protein Day was observed on February 27 2020.
>> Read Full News
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