Current Affairs 13 July 2023

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NATIONAL AFFAIRS

L&T and US Navy signed a Master Ship Repair Agreement for voyage repairs
On 11th July 2023, Larsen & Toubro (L&T) limited has signed a Master Shipyard Repair Agreement (MSRA) with the United States Navy (US Navy) to strengthen the strategic partnership between India and the United States of America (USA) in the defence sector and to contribute to a free and open Indo-Pacific.
Note: This MSRA is a direct outcome of the 2022 US-India 2+2 Ministerial Dialogue.
Background:
i. L&T’s state-of-the-art Kattupalli Shipyard near Chennai, Tamil Nadu(TN), one of the major node in the Southern Defence Corridor, has been undertaking voyage repairs of the Military Sealift Command vessels.
ii. Following an elaborate assessment by the US Navy and the Military Sealift Command, the Shipyard was qualified for the MSRA.
This is equivalent to undertaking warship refits, for which the Shipyard has already been qualified by the Indian Navy and the Coast Guard.
About MSRA agreement:
i. Under this MSRA, L&T will dedicate all its dynamism, innovation, and Shipbuilding 4.0 techniques to meet the quality and delivery requirements of the US Navy
ii. The agreement covers a variety of ship repair services, including hull repair, mechanical repair, electrical repair, painting and so on and the agreement is valid for a period of 5 years.
iii. With this agreement, L&T will expand its presence in the global ship repair market and it will let the US Navy get its ships repaired at a lower cost.
US Naval Ship (NS) Salvor:
i. The USNS Salvor is the Military Sealift Command’s rescue and salvage ship, which arrived at the shipyard for voyage repairs on 9th July,2023.
ii. The USNS Salvor was the first ship under the MSRA to undergo steel repairs and it is the third US ship coming to L&T Shipyard for voyage repairs.
Note: Earlier, voyage repairs of Marine Sealift Command (MSC) Fleet Support Ships, USNS Charles Drew and USNS Matthew Perry were undertaken and completed on time by L&T.
Additional Info:
L&T is a USD 23 billion Indian multinational engaged in engineering, procurement, and construction (EPC) projects, among others, and it operates in over 50 countries across the world.

Product Design Centre inaugurated in Kolkata and Grain-Ex facility launched under MeitY supported projects
Bhuvnesh Kumar, Additional Secretary, Ministry of Electronics and Information Technology (MeitY) inaugurated the Product Design Centre (PDC), set up at Centre for Development of Advanced Computing (C-DAC), Kolkata, West Bengal.
On the occasion, ‘Grain-Ex‘, an appearance based detection system, through machine vision technology for pulses developed under ‘National Programme on Electronics and Information and Communication Technology (ICT) applications in Agriculture and Environment (AgriEnIcs)’ as well as Indian Council of Agricultural Research (ICAR)- The Indian Agricultural Research Institute (IARI), New Delhi, Delhi was also launched.
Key People:
The Key People at the inauguration and launch were: Sunita Verma, Group Coordinator, MeitY; Aditya Kumar Sinha, Director, C-DAC, Kolkata, West Bengal; Dr Om Krishan Singh, Scientist ‘D’, MeitY.
Product Design Centre (PDC):
i. The centre is equipped with all the software and printing technologies for system designing, prototyping, ideation and fabrication.
ii. It also has prototyping and system designing facilities.
iii. Start-ups, entrepreneurs and the Ministry of Micro, Small & Medium Enterprises (MSMEs) of the eastern region of India would be benefitted by this facility.
‘Grain-Ex’:
i. It is an appearance-based electronic (e)-Quality detection system for 14 types of pulses.
ii. It would bring about a transformative change in the e-National Agriculture Market (e-NAM) for quality-based pricing.

• Over 1,200 e-NAM-connected markets will be benefitted.

INTERNATIONAL AFFAIRS

India registers remarkable reduction in poverty with 415 million people coming out of it in 15 years: UNi.The latest update of the Global Multidimensional Poverty Index (MPI) was released by the United Nations Development Programme (UNDP) and the Oxford Poverty and Human Development Initiative (OPHI) at the University of Oxford.
ii.As per it, a total of 415 million people moved out of poverty in India within just 15 years from 2005/2006 to 2019/2021 showing 55.1% decrease in 2005-06 to 16.4% in 2019-2021.
iii.In India, multidimensional poverty declined from 645 million people in 2005-2006 to 370 million in 2015-2016, and further to 230 million in 2019-2021. Deprivation decreased across all indicators.
iv.Over 18% of the global population (1.1 billion people) live in acute multidimensional poverty across 110 countries, with Sub-Saharan Africa and South Asia housing the majority of the poor.
About United Nations Development Programme (UNDP):
Administrator– Achim Steiner
Headquarters– New York, United States
>> Read Full News

IFSCA inks MoU with Climate Policy Initiative and IIML -EICi.IFSCA and CPI-India has signed a MoU for mutual assistance and cooperation to increase mobilization of global sustainable capital flows into India.
ii.This MoU also includes research and joint convenings in the field of sustainable finance.
iii.IFSCA has also signed MoU with IIM Lucknow Enterprise Incubation Centre (IIML EIC) at IIM (Indian Institute of Management) Lucknow EIC, Noida campus in Uttar Pradesh (UP).
iv.This MoU aims to establish a framework for collaboration and mutual understanding between both organizations for supporting and facilitating FinTech and TechFin entities.
About International Financial Services Centres Authority (IFSCA):
It was established in April 2020 under the International Financial Services Centres Authority Act, 2019.
Executive Director– Praveen Trivedi
Headquarters– Gandhinagar, Gujarat
>> Read Full News

India Achieved the Best-Performing Nation on UN Digital and Sustainable Trade Facilitation Survey

According to the 5th edition of Survey on Digital and Sustainable Trade Facilitation by the United Nations Economic and Social Commission for Asia Pacific’s (UNESCAP), India has emerged as the best-performing country in the South Asian region in terms of trade facilitation.

• India has been positioned at the forefront of global trade facilitation efforts, with an impressive score of 93.55% in 2023 vis a vis 90.32% in 2021 after evaluation of 160 economies(countries) and 60 trade facilitation measures.

Key points:
i.India’s continuous efforts towards improving the trade ecosystem for MSMEs(Micro, Small & Medium Enterprises) has helped India in improving its score in UNTF(United Nations Trade facilitation) survey since 2017.
ii.The overall score of India has been greater than many developed countries including Canada, France, United Kingdom(UK), Germany etc.
About United Nations Economic and Social Commission for Asia Pacific’s (UNESCAP):
Executive Secretary- Armida Salsiah Alisjahbana
Established- 1947
Headquarters- Bangkok, Thailand
>> Read Full News

BANKING & FINANCE

3 Multilateral Development Banks Have Pledged upto USD 27 bn for India’s Green Growth During the  International Conference on Green Hydrogen (ICGH-2023), three Multilateral Development Banks, the European Investment Bank (EIB), the Asian Development Bank (ADB) and the World Bank have contributed USD 27 billion for India’s Green Growth.
The funding allotment: 

• The EIB has pledged Euro(€) 1 billion to develop a large-scale hydrogen industry hub
• The ADB intends to provide USD 20-25 billion over 5 years to support India’s green growth
• The World Bank approved USD 1.5 billion to aid India’s low-carbon transition journey.

International Conference on Green Hydrogen (ICGH-2023):
The 3 days ICGH-2023 held between 5th-7th July 2023 at Vigyan Bhawan, New Delhi, Delhi inaugurated by R. K. Singh the Union Minister for Power and New and Renewable Energy (MNRE). 

• The event was organised by MNRE, in partnership with the Ministry of Petroleum and Natural Gas, the Council of Scientific and Industrial Research (CSIR) and the office of principal scientific advisor to the Government of India.
• The conference held discussions in line with the objectives of India’s National Green Hydrogen Mission to help achieve India’s target of Net Zero by the year 2070.

India towards Green Hydrogen:
i.India ranked 4th globally in terms of installed renewable energy capacity and achieving cost-effective solar and wind power generation.
ii.With the recent launch of the National Green Hydrogen Mission the Government of India showcased its dedication to ramping up green hydrogen production and aligning with global trends.
iii.The country also has many advantages on the renewable energy front due to its abundant solar energy, investments in the power grid, favorable climate, sufficient resources, and strong supply chain for green hydrogen production.
iv.The public sector units (PSUs) have set a target to produce over one million metric tonnes (MMT) of green hydrogen by 2030 to facilitate the transition to a green hydrogen economy.
v.The government aims to promote the uptake of green hydrogen in refineries and city gas distribution (CGD) through both public and private sector entities, phasing out fossil fuels and aiding decarbonisation efforts.
About World Bank:
President- Ajay Banga
Headquarters– Washington, D.C. United States of America(USA)
Established- 1944

IDFC FIRST Bank, Club Vistara, & Mastercard has Introduced Travel Credit CardIDFC FIRST Bank Ltd has collaborated with Club Vistara and Mastercard to introduce a travel credit card that aims to enhance travel experiences and lifestyle-related offers to cardholders.

• The new card will provide banking services with travel incentives.

Features and Benefits:
i.The rewards structure is based on Club Vistara Points, with accelerated points for different spending categories.
ii.Cardholders can receive Club Vistara Points, lounge benefits, birthday benefits, annual rewards, golf benefits, and cover for canceled flight and hotel bookings.
iii.The joining benefits include a free Premium Economy flight ticket along with an upgrade voucher.
iv.The card offers CFAR(Cancel For Any Reason) Insurance, providing coverage for non-refundable components of travel bookings.
v.The card offers tiered annual rewards based on cumulative annual spending. Cardholders who spend more than Rs.1,50,000, Rs.3,00,000, Rs.4,50,000, Rs.9,00,000, or Rs.12,00,000 will unlock additional Premium Economy Class tickets as a reward.
Additional info:
IDFC FIRST Bank– a bank founded by the merger of Capital First and IDFC Bank in December 2018.
Club Vistara– TATA SIA Airlines Limited, known by the brand name Vistara, is a 51:49 joint venture between Tata Sons Private Limited and Singapore Airlines Limited (SIA).
MasterCard– a worldwide association of banks and financial institutions.
About IDFC FIRST Bank Ltd:
Managing Director(MD) & Chief executive officer(CEO)- V. Vaidyanathan
Headquarters- Mumbai, Maharashtra
Established- 2018

Citi Commercial Bank launches ‘CitiDirect Commercial Banking’ for Enhanced Digital Banking Service
In a strategic move to meet the evolving global needs of their clients and to provide them with a truly digital experience, Citi Commercial Bank (CCB) has unveiled a new platform called CitiDirect Commercial Banking in the United States of America(USA).
i. By integrating the services such as banking relationships, spanning cash management, loans, trade, foreign exchange (FX), servicing, and onboarding into a single platform, CCB aims to simplify and enhance the banking experience for its commercial clients.
ii. Though this facility is available in the USA, CCB plans to introduce it across key global financial centres including Hong Kong, India, Singapore, and the U.K in the second half of 2023.
iii. Clients can also digitally open accounts and request new products and services.
About Citi Commercial Bank:
Global Head – Tasnim Ghiawadwala
Headquarters – NewYork, United States of America (USA)
Established in – 1812

ECONOMY & BUSINESS

India & Bangladesh Launch Trade Transactions in Rupees to Lower Dollar Usage
In a significant move aimed at strengthening trade and reducing dependency on the US dollar, Bangladesh and India have initiated transactions in Rupees as India is the top export destination for Bangladesh in Asia.

• This marks the first time Bangladesh has engaged in bilateral trade with a foreign country outside the realm of the US dollar. The exchange rate is based on Market Demand.
• The launching ceremony was attended by Indian High Commissioner to Bangladesh Pranay Verma IFS and Bangladesh Bank (The central bank of Bangladesh) Governor Abdur Rouf Talukder on behalf of India and Bangladesh respectively. 

Agreement Between India & Bangladesh:
i. The two countries have agreed to start settling trade in Rupees initially, and then gradually in Taka as the trade gap between the two countries decreases. This is because Bangladesh imports more from India(USD 13.69 billion) than exports to India (USD 2 billion).
ii. The transaction costs in trade with India would reduce with the introduction of the Taka(Currency of Bangladesh)-Rupee dual currency card which was about to be launched in September 2023.
iii. The permission was granted to open Nostro Accounts which will make it easier for businesses in the two countries to trade with each other in their own currencies.
About Taka-Rupee Dual Currency Card:

• PayCard(a new debit card) for transactions in Indian Rupee as well as Bangladeshi Taka.
• This card can be used both in Bangladesh and India.
• Announced in the recent Monetary Policy of Bangladesh by Bangladesh Bank

About Nostro Account:
A Nostro account is an account held by one bank on behalf of another bank. It allows the customers to deposit money in the bank’s account in another bank. It is often used if a bank has no branches in a foreign country.
About Bangladesh:
Prime Minister – Sheikh Hasina Wazed
President – Mohammed Shahabuddin
Capital – Dhaka, Bangladesh
Currency – Bangladeshi Taka

AWARDS & RECOGNITIONS        

34th International Biology Olympiad held at Al Ain, UAE; India tops medal tally with 4 GoldsIndia won 4 gold medals and topped the medals tally at the 34th International Biology Olympiad (IBO 2023) held at the United Arab Emirates University (UAEU) in Al Ain, United Arab Emirates (UAE), from 3rd to 11th July 2023.

• For the first time, all the students (4) representing India won the gold at the IBO.
• Besides India, Singapore has also won 4 gold medals at IBO 2023.

Note: Around 293 students from 76 countries participated in the IBO 2023 and a total of 29 gold medals were awarded at the IBO 2023. The number of gold medals will be limited to approximately 10 % of the number of participants.

Organizers:
The 34th IBO was hosted by the UAE and organised by the Ministry of Education, UAE in partnership with the UAEU.
The Winners:
The following students from India emerged as the gold medal winners:

Key Points:
i.The above team was led by Prof. Madan M. Chaturvedi (Former Senior Professor, Delhi University-DU); and Dr Anupama Ronad from Homi Bhabha Centre For Science Education- Tata Institute of Fundamental Research (HBCSE, TIFR) in Mumbai, Maharashtra; and two Scientific Observers: Dr V. V. Binoy (National Institute of Advanced Studies (NIAS), Bengaluru); and Dr Rambhadur Subedi (National Institute for Research in Reproductive and Child Health (NIRRH), Mumbai).
ii.Earlier, India has topped the medals tally in Astronomy & Astrophysics (in 2008, 2009, 2010, 2011, 2015 and 2021), Physics (in 2018) and Junior Science (in 2014, 2019, 2021, and 2022).
iv.The 35th IBO will be held in Astana, Kazakhstan in 2024 as UAE handed over the official flag and trophy of the IBO to Kazakhstan during the closing ceremony which was attended by His Excellency Dr. Ahmed Belhoul Al Falasi, Minister of Education, UAE.
About IBO:
The IBO, an association responsible for organizing the world’s leading biology competition for secondary school students, aims to identify, inspire, empower, and support the future leaders in the field of life sciences while fostering their international network.
How can one participate?
To participate in the IBO, students must first become one of the top four students in their National Biology Olympiad (NBO). NBOs typically conduct 3-5 progressively challenging rounds to select participants for the IBO. During the IBO, students are required to take part in both theoretical and practical exams.

APPOINTMENTS & RESIGNATIONS           

Abhijit Chakravorty appointed as MD & CEO of SBI cards
SBI Cards and Payment Services Limited (SBICPSL), a subsidiary of State Bank of India (SBI) and India’s second-largest credit card, provider appointed Abhijit Chakravorty as its Managing Director (MD) and Chief Executive Officer (CEO) with effect from August 12, 2023 for a period of 2 years. He is currently serving as the Deputy MD of SBI.

• He will succeed the incumbent MD & CEO Rama Mohan Rao Amara, who tendered his resignation with effect from 11th August 2023 owing to his transfer back to the SBI.

About Abhijit Chakravorty:
i. He started his banking career as a Probationary Officer (PO) with SBI in 1988 and earned an experience of over 34 years in various fields.
ii. He oversaw the Bank’s Operations in Bangladesh as CEO and Country Head and
iii. He also served as the vertical responsible for Information Technology (IT) operations of the customer-facing channels and payment systems.
iv. He served at the Hongkong branch of SBI and has played a pivotal role in high-value Corporate Lending as a member of the Commercial Credit Group.
v. He also took the role of Chief General Manager (Channels & Operations) at the Global IT Centre of SBI
About SBI Cards and Payment Services Limited:
SBI Card was launched as SBI Cards and Payment Services Private Limited in 1998 by the State Bank of India and GE Capital.
Chairman– Dinesh Kumar Khara
MD & CEO– Rama Mohan Rao Amara
Headquarters– Gurugram, Haryana

Harsh Chouhan resigns NCST Chairman
On 26th June 2023, Harsh Chouhan, Chairman of the National Commission for Scheduled Tribes (NCST) resigned from his post 8 months ahead of the end of his tenure. He was appointed as the Chairman of NCST in February 2021 for a period of 3 years.  Droupadi Murmu, President of India, accepted his resignation on 27th June 2023.

• Following his resignation, the NCST is left functioning with Ananta Nayak, the only member of the commission.
• Since 2019, the post of Vice Chairman (VC) has been vacant following the appointment of then VC Anasuya Uikey as Governor of Chhattisgarh (now serving as Governor of Manipur).

Note: As per the ‘NCST Chairperson, Vice-Chairperson and Members (Conditions of Service and Tenure) Rules 2004’, NCST should have a chairperson, VC and members. The number of members has not been capped but there should be a woman member.
Harsh Chouhan’s resignation comes after an argument with the Ministry of Environment, Forest and Climate Change (MoEFCC) over the Forest Conservation Rules 2022, which he believed violated the Forest Rights Act, 2006.
About National Commission for Scheduled Tribes (NCST):
NCST, a constitutional body, was established by amending Article 338 and inserting a new Article 338A in the Constitution through the Constitution (89th Amendment) Act, 2003.
The amendment replaced the erstwhile National Commission for Scheduled Castes and Scheduled Tribes with 2 separate Commissions: National Commission for Scheduled Castes (NCSC) and NCST with effect from 19 February 2004.
Headquarters– New Delhi, Delhi

SCIENCE & TECHNOLOGY

DoT Secretary K Rajaraman launches ‘Standards Coordination Portal’ On 7th July 2023, K Rajaraman, the Secretary to the Department of Telecommunication(DoT), Ministry of Communications, launched the ‘Standards Coordination Portal’, developed by  Telecommunication Engineering Centre (TEC) under the DoT, during the “National Workshop on Enhancing Indian Participation in Telecom Global Standards Bodies” held at Centre For Development Of Telematics  (C-DoT) Campus in New Delhi, Delhi.

• The workshop was conducted by TEC in collaboration with C-DoT and Telecommunications Standards Development Society, India (TSDSI), a National Telecom Standards Development Organisation (SDO).

Purpose of the Portal:
i.The portal aims to increase India’s participation in global standardising initiatives by bringing together specialists from various sectors such as industry, academic institutions, research organisations, and government.
ii.This also serves as a central hub for sharing information and promoting collaboration in the Standardisation of telecom and related ICT domains.
Online Module – Voluntary Certification :
i.An Online Module for Voluntary Certification of telecom products was also introduced, which shall provide a streamlined process for certification.
ii.Approval Certificate for Conditional Access System and the Technology Approval Certificate for Dual Band Outdoor Wi-Fi Access Point, was handed over to C-DoT, symbolising their commitment to quality and innovation.
Highlights of the Workshop:
i.K.Rajaraman, Secretary (DoT), also released the “Fairness Assessment and Rating of Artificial Intelligence Systems” TEC standard, which specifies detailed protocols for analysing and rating the fairness of artificial intelligence systems, assuring ethical and responsible AI deployment.
ii.The experts from industries, academia, government organisations, and renowned research and development centres engaged in discussions of topics including the step-by-step process of standard-making processes, conversion of patents into Standard Essential Patents (SEPs), and the significant role of academic institutions in fostering a vibrant Standards Community.
iii.This workshop addressed the importance of standardisation for firms and start-ups, specifically through the Standard Essential Patents (SEP) system.
iv.The workshop provided a platform to create awareness and encourage active Indian participation in international standardisation bodies such as the International Telecommunication Union(ITU), 3rd Generation Partnership Project (3GPP), Institute of Electrical and Electronics Engineers (IEEE) etc. The workshop emphasised the pivotal role of standardisation for businesses and start-ups, particularly through the Standard Essential Patents (SEP) mechanism.

IN-SPACe Issues an Expression of Interest for SSLV Tech Transfer

On 11th July 2023, the Indian National Space Promotion and Authorisation Centre (IN-SPACe) issued an expression of interest (EoI) for the first-of-its-kind Transfer of Technology (ToT) of the small satellite launch vehicle (SSLV) to Indian private Space firms.

• The aim of this initiative is to boost the Indian Private Space Industries.
• SSLV is a 3 stage Launch Vehicle configured with 3 Solid Propulsion Stages and liquid propulsion-based Velocity Trimming Module (VTM) as a terminal stage.
• Indian National Space Promotion and Authorisation Centre (IN-SPACe) and ISRO’s Human Space Flight Centre (HSFC) signed a Memorandum of Understanding (MoU) with the Voyager Space to explore opportunities for the utilisation of the Gaganyaan crewed spacecraft to service Starlab space station.

>> Read Full News

OBITUARY

Nirmala Buch, 1st and only woman Chief Secretary of Madhya Pradesh passed away at 97
Nirmala Buch, the first and only woman chief secretary of Madhya Pradesh (MP) (1991 to 1993) passed away at the age of 97 in Bhopal, MP. She was born in Khurja district of Uttar Pradesh on October 11, 1925.

• She was a 1960 batch Indian Administrative Service (IAS) Officer who is well known for her primary role in framing ‘Gramin Vikas’ (Rural Development) and Panchayati Raj’ (Local self- Governance) systems in MP during her term at the Yojana Aayog (now National Institution for Transforming India (NITI) Ayog).
• She served as financial and education secretary from 1975-1977 to the Government of MP.
• She established ‘Mahila Chetna Manch’ (MCM) in 1984 to work for women’s empowerment.

IMPORTANT DAYS

International Malala Day 2023 – July 12Malala Day is an international observance annually celebrated on 12th July to honour the birthday of Malala Yousafzai, a Pakistani education activist and Nobel Prize laureate.

• The day is also marked to honour Malala, who is known for her advocacy of girls’ education. It also signifies the free, quality and compulsory education for every child across the world.

Background:
i. On July 12, 2013, Malala on her 16th birthday gave an impactful address at the United Nations (UN) in New York.

• She primarily focussed on the need for worldwide quality education to the women and appealed world leaders in this regard to bring changes to their policies.

ii. The UN declared her birthday as “Malala Day” and has been observed internationally for the first time on 12th July 2013.
iii. On 12 July 2013, the UN celebrated Malala Day, an event in support of UN’s Secretary-General’s Global Education First Initiative (GEFI), which brought together hundreds of young leaders to call on world leaders to ensure free and compulsory education for every child around the world.
>> Read Full News

STATE NEWS

Pilot Project of Antyoday Shramik Suraksha Yojana Launched in GujaratOn 8th July 2023, Gujarat Chief Minister Bhupendra Patel and Union Minister of State for Communications Devusinh Chauhan, launched the Pilot Project of Antyoday Shramik Suraksha Yojana for the welfare of the workers from Nadia of Kheda district in Gujarat.

• The scheme aims to provide financial stability to workers or Labourers, in case of any accident or death.
• It is being implemented through the Indian Postal Department, the Indian Post Payments Bank, and the Ministry of Labour and Employment.

Note: Gujarat has become the first state in the India to introduce this scheme aiming to benefit the workers.
Benefits provided under the Scheme:
i.Workers can avail benefits for death or partial disability, with premiums ranging from Rs 289 and 499 per year.
ii.In case of death, their family will receive Rs 10 lakh, while permanent disability due to an accident will make the workers eligible for a sum of 10 lakh rupees.
iii.The scheme includes education assistance of 1 lakh rupees for the children of deceased workers.
About Gujarat:
Governor- Acharya Devvrat
Capital- Gandhinagar
Folk dance- Garba, Dandiya, Bhavai

Gogoro & Maharashtra Govt. Made an MoU to Set Up Smart Battery Ecosystem
Gogoro Inc. (Gogoro), a Taiwanese-based battery-swapping service provider and two-wheeler manufacturer and the Maharashtra Government entered into an ‘Ultra Mega Project‘ agreement to invest more than USD 1.5 billion  over the next 8 years to manufacture Electric Vehicles (EVs), smart battery packs and battery swap stations across Maharashtra.
The proposed ‘Ultra Mega Project’ agreement includes financial incentive and support from the Maharashtra government.
About the Ultra Mega Project:
i. In the 1st phase of the eight-year project, Gogoro will invest more than USD 500 million for manufacturing vehicles and another USD 1 billion for smart battery infrastructure deployment which will be supported by financial incentives and reimbursements by Maharashtra.
ii. Maharashtra being the leading state in India for EVs, committed towards sustainable transportation for everyone by creating a smart battery ecosystem with Gogoro, a leader in sustainable vehicles and electric fuel technologies.
Benefits of the project:
i. The project focused on creating a domestic supplier ecosystem that allows for domestic growth and foreign market expansion and would generate approximately 10,000 direct and indirect jobs.
ii. With this partnership, Gogoro is expected to lead the increase of foreign direct investment into Maharashtra in both supply chain capabilities and smart battery infrastructure.
Taiwan to Establish TECC Office in Mumbai
On 5th July 2023, Taiwan announced its plans to expand its official presence in India by establishing its third and new representative office “Taipei Economic and Cultural Centre (TECC)” in Mumbai, Maharashtra aimed at expanding overall cooperation between India and Taiwan.
Other Representative offices:
i. In 2012, TECC was set up in Chennai, Tamil Nadu, since then nearly 60% of all Taiwanese businesses investing and opening factories in India have chosen to develop their operations in southern India.
ii. The investments made by Taiwanese manufacturing industries benefited Chennai and its surrounding areas. The establishment of the TECC in Mumbai is expected to have a similar effect in western part of India.
Note: In 1995, both Taiwan and India established their respective representative offices: TECC in New Delhi, Delhi and an “India Taipei Association” in Taipei, Taiwan.
Benefits of India-Taiwan tie-ups:
i. India has emerged as a major investment destination for global enterprises with its huge market and related business opportunities.

•       India becomes the most populous nation in 2023, while in 2022, India becomes the world’s 5th largest economy.

ii. Mumbai being the largest city in India, serving as India’s financial centre and exhibiting its largest port.
iii. Under Taiwan’s New Southbound Policy (NSP), it will also promote exchanges and cooperation in science and technology, education, culture, and people-to-people ties between Taiwan and western India.
About Maharashtra:
Chief Minister– Eknath Shinde
Governor– Ramesh Bais
Zoological Park: Jijamata Udyan Zoo and Maharajbagh Zoo

Government of Meghalaya & NTPC signed MoU to enhance power  and Clean Energy Generation in Meghalaya
The Government of Meghalaya and NTPC Limited(formerly known as National Thermal Power Corporation Limited) signed a series of Memorandum of Understanding (MoUs) to enhance the power infrastructure and clean energy generation in Meghalaya.

• The MoUs encompass the Power Portfolio Management Services (PMS) for Meghalaya Discom, the setting up of Pump Storage Power Plants (PSPs), and the implementation of Floating Solar projects across Meghalaya.
• It also aims at enhancing power portfolio management of Meghalaya Energy Corporation Limited (MeECL) by a team of professionals and expertise of the NTPC.

Key People:
The MoU was signed in the presence of Conrad K Sangma, Chief Minister(CM) of Meghalaya; Abu Taher Mondal, Cabinet Minister, Power Department of Meghalaya; Gurdeep Singh, Chairman and Managing Director (CMD) of NTPC Limited and Sanjay Goyal, CMD, MeECL in New Delhi, Delhi.

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List of Current Governors in India – February 2023

List of Current Chief Ministers in India – February 2023

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