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NATIONAL AFFAIRS
President Droupadi Murmu Inaugurates 8th India Water Week in New Delhi
The 8th edition of India Water Week (IWW 2024), organised by the Ministry of Jal Shakti (MoJS), was conducted from 17th to 20th September 2024 at the Bharat Mandapam in New Delhi, Delhi.
- The event was inaugurated by Droupadi Murmu, President of India, along with Union Minister C. R. Paatil, MoJS and Minister of State(MoS), Raj Bhushan Choudhary, MoJS.
Note: The Ministry of Jal Shakti is organizing the IWW biannually since 2012.
Theme and Focus:
i.The theme for IWW 2024 was “Partnerships and Cooperation for Inclusive Water Development and Management”.
About Ministry of Jal Shakthi(MoSJ):
Union Minister– C R Paatil (Constituency- Navsari, Gujarat)
Minister of State– Raj Bhushan Choudhary (Constituency- Muzaffarpur, Bihar); V. Somanna (Constituency- Tumkur, Karnataka)
>> Read Full News
KAZIND-2024 : Joint Military Exercise Between India & Kazakhstan Begins at Auli, Uttarakhand
The 8th edition of India-Kazakhstan Joint Military ‘Exercise KAZIND’, an annual bilateral exercise, commenced on 30th September 2024 at Surya Foreign Training Node, Auli, Uttarakhand. The exercise is being held from 30th September to 13th October 2024.
- The Exercise KAZIND 2024 is based on the theme of conducting Joint Subconventional Operations under Chapter VII of the United Nations Mandate.
- The objective of the exercise is to strengthening interoperability and cooperation, particularly in the context of counter-terrorism operations.
Note : Last edition of the Exercise KAZIND was held at Otar, Kazakhstan from 30th October to 11th November 2023.
Background :
i.In 2016, joint exercise between India and Kazakhstan was instituted as “ Exercise Prabal Dostyk”.
ii.The exercise was renamed as “Exercise KAZIND” after the second edition. In 2023, the exercise includes Air Force personnel, making it a Bi-service Exercise.
Participants:
i.120 personnel, represented by a battalion of the KUMAON Regiment of Indian Army(IA), along with personnel from Indian Air Force, have participated in the exercise.
ii.The Kazakhstan contingent is represented by personnel from Land Forces and Air Borne Assault Troopers.
Significance:
i.The India-Kazakhstan joint military exercise KAZIND is a key defense collaboration aimed at enhancing counter-terrorism capabilities, improving interoperability between the armed forces, and strengthening strategic relations between the two nations.
ii.The broader objectives include improving physical fitness, rehearsing and refining drills for operations at tactical level and sharing of best practices.
iii.In the KAZIND exercises, tactical drills include securing helipads for safe landing zones during joint operations, deploying troops via helicopters (Special Heliborne Operations), and conducting cordon-and-search missions to neutralize threats.
iv.Both the Contingents have so far participated in Yoga, Army Martial Arts routine, Rock Craft Training for strengthening interoperability and cooperation.
About Kazakhstan :
President- Kassym-Jomart Tokayev
Prime Minister (PM)- Oljas Bektenov
Capital- Astana
Currency- Kazakhstani Tenge
MoPSW Minister Sarbananda Sonowal Launches Cruise Bharat Mission
The Union Minister Sarbananda Sonowal, Ministry of Ports, Shipping, and Waterways (MoPSW), launched the Cruise Bharat Mission (CBM) from the Mumbai port in Mumbai, Maharashtra to enhance India’s cruise tourism sector, and position it as a global hub for cruise tourism.
- CBM is designed with the ambitious goal of doubling cruise passenger traffic within five years, targeting an increase from 4.6 lakh passengers in 2024 to 50 lakh by 2047.
- The mission is set to be implemented in three phases from October 1, 2024, to March 31, 2029, focusing on infrastructure development, international partnerships, and sustainable practices.
- It aims to double volume of cruise calls from 254 in 2024 to 500 by 2030 and 1,100 by 2047.
Key Points:
i.Phased Implementation:
- Phase 1 (2024-2025): Focus on conducting studies and forming alliances with neighboring countries. This phase will also involve modernizing existing cruise terminals and enhancing current cruise circuits.
- Phase 2 (2025-2027): Development of new terminals and destinations to activate high-potential cruise locations.
- Phase 3 (2027-2029): Integration of all cruise circuits across the Indian subcontinent, marking a mature ecosystem for cruise tourism in India.
- The number of sea cruise passengers is projected to rise from 500,000 in Phase 1 to 1 million by Phase 3.
- River cruise passenger numbers are expected to increase from 500,000 in Phase 1 to 5 million by Phase 3.
- The count of international cruise terminals will grow from 2 in Phase 1 to 10 by Phase 3, while river cruise terminals will expand from 50 to 100.
- Marinas are set to increase from 1 to 5, and employment in the sector is anticipated to grow from 100,000 to 400,000 by the final phase.
ii.The initiative focuses on three key segments:
- Ocean & Harbour Cruises: Including deep-sea and coastal cruises.
- River & Inland Cruises: Covering canals, backwaters, and lakes.
- Island Cruises: Featuring inter-island tours and boutique experiences.
iii.Employment Generation:
The mission is expected to create around 400,000 jobs, significantly contributing to the economy while promoting cultural and historical tourism across India’s diverse regions.
iv.Its 5 Strategic Pillars are Sustainable Infrastructure & Capital, Operations Including Technology, Cruise Promotion & Circuit Integration, Regulatory Framework, and Capacity Building.
Union Cabinet Approved Establishment of NCoE for AVGC in Mumbai
On 18th September 2024, the Union Cabinet chaired by Prime Minister (PM) Narendra Modi has approved the establishment of a National Centre of Excellence (NCoE) for Animation, Visual Effects, Gaming, Comics, and Extended Reality (AVGC-XR) in Mumbai, Maharashtra.
- It will be administered by the Ministry of Information and Broadcasting (MoI&B).
- This marks a significant step in strengthening India’s media and entertainment industry.
- It is expected to boost Indian economy while creating new job opportunities in the rapidly growing AVGC sector.
Note:
i.In Union Budget for Financial Year 2022-23 (FY23), the Union Ministry of Finance and Corporate Affairs (MoF&CA) had announced the establishment of NCoE for AVGC-XR in India.
ii.According to the FICCI-EY Report 2023, the animation industry in India is boasting a growth rate of 25% and an estimated value of Rs 46 billion by 2023.
About NCoE AVGC-XR:
i.It will be established as Section 8 Company under the Companies Act, 2013 in India with Federation of Indian Chambers of Commerce and Industry (FICCI) and Confederation of Indian Industry (CII) representing the industry bodies as partners with the Government of India (GoI).
ii.It aims to create a world class talent pool in India to address to the Indian as well as global entertainment industry. The centre is estimated to generate 5 lakh jobs.
iii.It has been named provisionally as Indian Institute for Immersive Creators (IIIC), which will revolutionalise the AVGC sector and promote innovation in immersive technologies.
- It will be modeled after prestigious Indian institutes: Indian Institutes of Technology (IITs) and Indian Institute of Management (IIMs).
Key Features:
i.It will mainly focus on creation of India’s Intellectual Property (IP) for both domestic and international consumption.
ii.It will act as an incubation centre by providing resources for supporting startups and early stage companies in AVGC-XR field.
iii.It will help India to position as content hub for providing the state-of-the art content.
iv.It will foster Research and Development (R&D) and will bring together experts across fields of science and arts that can lead to major breakthroughs in AVGC-XR.
v.It will enhance India’s soft power globally and will attract foreign investment into the Media & Entertainment (M&E) sector.
Key Objectives:
i.It will have integrated focus on education, skilling industry, development, and innovation.
ii.IIIC as the hub and various other centre’s dedicated to innovation and research fund to support start-up ecosystem.
iii.It will create a dynamic ecosystem and R&D, and innovation in immersive technologies by fostering collaborations between the centre and state governments, academia and industry.
About Ministry of Information & Broadcasting (MIB):
Union Minister- Ashwini Vaishnaw (Rajya Sabha member- Odisha)
Minister of State (MoS)- Longanathan Murugan (Rajya Sabha- Madhya Pradesh, MP)
Government launched a new scheme ‘Jal Hi AMRIT’
Union Minister of Housing and Urban Affairs, Manohar Lal announced that the government had launched the Jal Hi AMRIT scheme under Atal Mission for Rejuvenation and Urban Transformation (AMRUT) 2.0 in its first 100 days with the goal of promoting effective water management.
- The government also approved 3 metro projects worth Rs 31,000 crores. This consists of Bengaluru Metro Phase-3, Thane Internal Ring Road Metro Projects and Southward extension of Pune Metro Rail Project.
About Jal Hi AMRIT:
i.Government is focusing on recycling and processing of water along with reuse in both rural and urban areas. The Jal Hi AMRIT scheme has been launched to support water management efforts.
ii.The Clean Water Credit System aims to motivate States and Union Territories(UTs) to properly manage used Water (Sewage) Treatment Plants (UWTPs/STPs) in order to ensure recyclable, high-quality treated water.
- Urban Local Bodies (ULBs) and parastatal organizations are in the process of nominating STPs for their respective states.
iii. This system promotes competition among cities, enhances their capacities, and incentivizes them to produce high-quality treated water.
iv.STPs will receive star ratings (ranging from 3 to 5 stars) as clean water credits, valid for 6 months.
v.Incentives will be provided to STPs based on their star ratings and clean water credits.
vi.It will promotes the reuse and recycling of water.
Additional Info:
i.Under AMRUT 2.0, 68 projects worth Rs 3,020 crore and 41 projects worth Rs 3,805 crore, totaling Rs 6,825 crore, will be implemented in the states of Gujarat, Jharkhand, Karnataka, Madhya Pradesh(MP), Maharashtra, Meghalaya, Odisha, Rajasthan, and Uttar Pradesh(UP) as part of the 100 days achievement program.
ii.Cumulatively in 100 days, Inauguration, and foundation laying of 263 projects worth Rs 9,352 crore will be completed.
BANKING & FINANCE
SEBI Established FPI Outreach Cell for Seamless Market Access
The Securities and Exchange Board of India (SEBI) has established a dedicated Foreign Portfolio Investor(FPI) Outreach Cell to focus on direct engagement with FPIs and to support FPIs in accessing the Indian Securities Market seamlessly.
- This was as part of SEBI’s Alternative Investment Fund (AIF) and FPIs Department (AFD).
Responsibilities:
i.To provide guidance to prospective FPIs during the pre-application stage.
ii.To support during the onboarding phase, and resolve operational challenges.
ECONOMY & BUSINESS
Total Employment in Manufacturing Industries up 7.5% in FY23: ASI by MoSPI
i.The Annual Survey of Industries (ASI) conducted by the Ministry of Statistics and Programme Implementation (MoSPI) revealed that total employment in manufacturing industries rose by 7.5% in the Financial Year 2022-2023 (FY23), reaching 1.85 crore from 1.72 crore in FY 2021-22 (FY22).
ii.The survey’s fieldwork occurred between November 2023 and June 2024, covering the FY April 2022 to March 2023.
iii.Employment in manufacturing exceeded pre-pandemic levels (2018-19) by 22.14 lakh.
iv.Average emoluments per person increased by 6.3% compared to FY22.
v.Total employment grew from 1,72,15,350 in FY22 to 1,84,94,962 in FY23, with prior years’ figures being 1,60,89,700 (FY21), 1,66,24,291 (FY20), and 1,62,80,211 (FY19).
About Ministry of Statistics and Programme Implementation (MoSPI):
Minister of State (Independent Charge)– Rao Inderjit Singh (Constituency- Gurugram,Haryana)
Headquarters– New Delhi, Delhi
>> Read Full News
AGEL and AESL join the Utilities for Net Zero Alliance to aid India’s decarbonisation march
Adani Green Energy Limited (AGEL) and Adani Energy Solutions Limited (AESL) have joined the Utilities for Net Zero Alliance (UNEZA), an international coalition which operates under the guidance of the International Renewable Energy Agency (IRENA) and the UN Climate Change High-Level Champions.
- AGEL in renewable energy and AESL in Transmission and Distribution (T&D) sector, have become the first in their respective segments in India to join UNEZA.
i.Both companies have committed to achieving Net Zero by 2050, a goal in line with India’s broader energy transition objectives.
ii.AGEL’s aims to contribute 10% of India’s non-fossil fuel energy by 2030, with a target of delivering 50 GW of renewable energy capacity by then.
iii.AESL, focused on enhancing grid reliability for renewable energy transmission, aims to reduce direct emissions by 72.7% by 2030.
Note: UNEZA, established at COP28 (28th Conference of the Parties to the United Nations Framework Convention on Climate Change-UNFCCC) with the United Arab Emirates (UAE) Declaration of Action, aims to drive global cooperation in advancing renewable energy, grid development, and clean energy solutions.
AWARDS & RECOGNITIONS
Hurun India Under-35 List: Isha Ambani, Parita Parekh, Ghazal Alagh among Top Young Entrepreneurs
According to the Hurun India’s latest inaugural edition of the “2024 Hurun India under 35s”, Isha Ambani, Non-Executive Director, Reliance Retail, Parita Parekh, co-founder of Toddle, an online platform for educators, Ghazal Alagh, founder of Mamaearth are among the top young entrepreneurs featured on the list.
i.The list is topped by Ankush Sachdeva (31 years old) an Institute of Technology (IIT) Kanpur Graduate, Chief Executive Officer (CEO), ShareChat and Moj, India’s leading social media applications (app). He is also the youngest entrepreneur featured on the list.
ii.Other noted names on the list are: Aakash Ambani (32nd ), Chairman of Reliance Jio Infocomm Limited (RJIL); Alakh Pandey, the founder ed-tech company Physics Wallah (23rd ); Roman Saini (38th ), founder of ed-tech company Unacademy, Vidit Aatrey (78th ), CEO of e-commerce company Meesho, among others.
About Hurun Report Inc. (Hurun Report):
It is a leading research, luxury publishing and events group established in 1998 in London, the United Kingdom (UK). Hurun India was launched in 2012.
Chief Executive Officer (CEO) – Rupert Hoogewerf
Managing Director (MD) and Chief Researcher (Hurun India)- Anas Rahman Junaid
Headquarters (Hurun India)- Mumbai, Maharashtra
>> Read Full News
Legendary Actor Mithun Chakraborty to be Honoured with Dada Saheb Phalke Award
Veteran Indian Actor-turned-Politician and Padma Bhushan Awardee Mithun Chakraborty will be honoured with the prestigious Dadasaheb Phalke Lifetime Achievement Award for his lifetime contribution to Indian cinema for the year 2022. He will be the 54th recipient of this award. It was announced by Union minister Ashwini Vaishnaw, Minister of Information and Broadcasting(MoI&B).
- He will be presented with the Dada Saheb Phalke award at the 70th National Film Awards ceremony scheduled to be held on 8th October, 2024 at Vigyan Bhawan in New Delhi, Delhi.
Note: In 2023, veteran actress Waheeda Rehman honoured with the Dadasaheb Phalke Lifetime Achievement Award for the year 2021.
About Mithun Chakraborty:
i.Mithun Chakraborty, also known as Mithun Da, was born on 16th June, 1950 in Kolkata, West Bengal (WB). During his long career in film industry, he has acted in more than 350 films including, Bengali, Hindi, Odia, Bhojpuri, Tamil, Telugu, Kannada, among others.
ii.He debuted in Hindi cinema with the film Mrigayaa directed by Mrinal Sen in 1976.
iii.He holds a world record in the Limca Book of Records for releasing most films in a single year i.e. 19 films were released in 1989, a record which is still unbroken.
iv.He started his political career by joining All India Trinamool Congress (AITMC) and later, he was nominated for Rajya Sabha from West Bengal by AITMC in 2014. In 2016, he resigned as Member of Parliament (MP) from Rajya Sabha.
- Later, he joined Bhartiya Janta Party (BJP) in 2021.
Awards:
i.He won his 1st National Film Award for “Best Actor” in 1976 for his debut film Mrigyaa. Later, he won National Film Award for film Tahader Katha (1992) and Swami Vivekananda (1998).
ii.In 2024, He was honoured with the Padma Bhushna, India’s 3rd highest civilian award in the category of Arts, presented by President Droupadi Murmu during a ceremony held at Rashtrapati Bhawan in New Delhi, Delhi.
About Dada Saheb Phalke Award:
i.It was instituted in 1969 by the Government of India (GoI) to commemorate the contribution of Dhudiraj Govind Phalke(Dada Saheb Phalke) to Indian cinema.
- Dhundiraj Govind Phalke, considered as the Father of Indian cinema, had directed India’s 1st full-length feature film named “Raja Harishchandra” in 1913.
ii.The award recognizes the outstanding contribution of an individual to the growth and development of Indian cinema.
iii.The award is presented annually at the National Film Awards ceremony organised by the Directorate of Film Festivals (DFF), under the Ministry of Information and Broadcasting (MoI&B).
iv.The recipient of the award receives a Swarna Kamal (Golden Lotus) medallion, a shawl, and a cash prize of Rs 10 lakh.
v.The 1st Dada Saheb Phalke Award was received by Devika Rani Roerich in 1969.
ACQUISITIONS & MERGERS
TIGA Investments gets CCI’s nod to Acquire Stake in Dream11
TIGA Investments, a Singapore-based investment firm, has received approval from the Competition Commission of India (CCI) to acquire a stake in Dream11’s parent company, Dream Sports Inc (DSI).
- The deal is reportedly valued at over USD 150 million.
- The deal also followed the China’s Tencent Holdings’ decision to divest its entire stake in Dream Sports due to regulatory pressures on Chinese investments in India.
Key Points:
i.As a part of deal, Tiga Acquisition Corp III will purchase preferred stock and certain rights from an existing shareholder of Dream Sports. The specific shareholder’s identity has not been disclosed.
ii.The CCI granted clearance for TIGA Investments’ acquisition under the green channel route, indicating that the transaction poses no risk of adverse effects on competition in India.
iii.Founded in 2008, Dream11 is a leading fantasy gaming platform in India, which has seen substantial growth, reporting a 32% increase in net profit for FY23.
CCI approves acquisition of Bharat Serums and Vaccines Limited by Mankind Pharma Ltd
CCI has approved Mankind Pharma Ltd.’s acquisition of Bharat Serums and Vaccines Limited (BSV) for Rs 13,630 crores, involving a complete takeover (100% stake) of BSV’s shareholding.
- Mankind Pharma plans to raise up to Rs 10,000 crore through non-convertible debentures and commercial papers.
- It will raise up to Rs 5,000 crore via non-convertible debentures, issued in 3-4 series with maturities of up to 48 months.
Key Points:
i.Mankind Pharma Ltd.: It is a publicly listed company that develops, manufactures, and markets a variety of pharmaceutical products, including:
- Finished dosage formulations (FDFs) for acute and chronic conditions.
- Consumer healthcare items
- Active pharmaceutical ingredients (APIs) and packaging solutions through its subsidiaries.
ii.Bharat Serums and Vaccines Limited (BSV): It is engaged in:
- Research, development, and manufacturing of FDFs and APIs.
- Biotech and biological formulations, food supplements, medical devices, and Ayurvedic medicines.
- Focused on therapeutic areas such as gynaecology, IVF, critical care, and emergency medicine.
SCIENCE & TECHNOLOGY
IIA Astronomers map the Differential Rotation of the Sun’s Chromosphere using 100 Years of Kodaikanal Data
Astronomers from the Indian Institute of Astrophysics(IIA) in Bengaluru, Karnataka, have discovered that the Sun’s outer layer “the chromosphere” rotates at different speeds from its equator(25 days) to its poles(35 days).
- The discovery was made using the 100 years of daily records from the Kodaikanal Solar Observatory, Kodaikanal, Tamil Nadu(TN).
i.This study marks the 1st time that chromospheric network cells have been used to map the Sun’s rotation across latitudes.
ii.The analysis revealed that the Sun’s rotation is fastest at the equator (13.98 degrees per day) and slows down towards the poles (10.5 degrees per day at 80 degrees latitude).
iii.The findings, published in the Astrophysical Journal, provide critical insights into the Sun’s magnetic field and its activity cycles.
IMPORTANT DAYS
World Environmental Health Day 2024 – September 26
World Environmental Health Day(WEHD) is celebrated every year on September 26th to raise awareness for a safe and robust environment and to encourage sustainable practices.
- The day aims to showcase that the health of our planet is linked to our well-being and there is a need to focus on environmental protection to save both nature and human beings.
- 2024 marks the 13th World Environmental Health Day.
i.The theme of WEHD 2024 is “Environmental Health: Creating Resilient Communities through Disaster Risk Reduction and Climate Change Mitigation and Adaptation”.
ii.During the IFEH meeting held in Bali, Indonesia in 2011, it was officially declared that WEHD will be celebrated every year on 26th September.
>> Read Full News
International Day of Awareness of Food Loss and Waste – September 29 2024
The United Nations (UN)’s International Day of Awareness of Food Loss and Waste (IDAFLW) is annually observed across the globe on 29th September to create awareness of the importance of the food loss and waste issue and promote global towards resolving it.
- 29th September 2024 marks the 5th observance of the IDAFLW.
- The annual observance is co-convened by the Food and Agriculture Organisation of the United Nations (FAO) and the United Nations Environment Programme (UNEP).
- The theme of IDAFLW 2024 is “Climate Finance for Food Loss and Waste Reduction”.
Background:
i.On 19th December 2019, the United Nations General Assembly (UNGA) in its 74th session adopted the resolution A/RES/74/209 and designated the 29th of September of every year as the International Day of Awareness of Food Loss and Waste (IDAFLW).
ii.The first IDAFLW was observed on 29th September 2020.
>> Read Full News
Haifa Day 2024 – September 23
Haifa Day is annually observed by the Indian Army(IA) on September 23 to honour the martyrs of the Battle of Haifa fought on 23rd September 1918. A memorial service is annually held to commemorate the fallen soldiers of the Jodhpur and Mysore lancers.
- The day also commemorates the liberation of Haifa in Israel by the Indian Troops in 1918.
- Every year on September 23, diplomats from India’s Embassy in Israel and Israeli government officials representing the municipality of the northern port city of Haifa gather at the Haifa War Cemetery to pay respects to the Indian soldiers who were killed and wounded in battle, on foreign soil.
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