Current Affairs 18 July 2024

National Affairs

ICAR Launches ‘One Scientist One Product’ to Boost Agricultural Research

The Indian Council of Agricultural Research (ICAR) has introduced a new research initiative called ‘One Scientist-One Product’ to enhance research in agriculture and animal husbandry. This plan, inaugurated by Union Minister Shivraj Singh Chouhan on ICAR’s 96th foundation day, involves 5,521 ICAR scientists focusing on unique products to maximize productivity and avoid duplication. The initiative will run for five years, aiming to develop 100 new seed varieties and 100 farm technologies in 100 days. ICAR, an autonomous organization under the Ministry of Agriculture and Farmers Welfare, will monitor progress quarterly and biannually.

Key Points:

• Each scientist is assigned a specific product target.
• Priority for this year includes seed hubs for high-yielding oilseeds and pulses.
• ICAR released 323 varieties of 56 crops in 2023-24, including bio-fortified and climate-resilient varieties.

Defence

MoD Announces 5th Positive Indigenisation List for Defence Manufacturing

The Ministry of Defence (MoD) has released the 5th Positive Indigenisation List (PIL) of 346 items to promote self-reliance in defence manufacturing. These items, with an import substitution value of Rs 1,048 crore, will now be procured only from Indian industries. The Srijan Portal, launched in 2020, lists these items for indigenisation. The previous four PILs included 4,666 items, of which 2,972 have been indigenised. The initiative involves nine Defence Public Sector Undertakings (DPSUs) and aims to boost economic growth and reduce import dependence.

Key Points:

• Items include Line Replacement Units, Systems, Sub-systems, Assemblies, Spares, and Components.
• DPSUs will indigenise items through various routes, including ‘Make’ procedures and in-house development.
• The initiative involves industry, academia, and research institutions.

International Affairs

India’s E-Waste Generation Grows by 163% from 2010-2022: UNCTAD Report

The United Nations Trade and Development (UNCTAD) has released the ‘2024 Digital Economy Report,’ highlighting a significant increase in electronic waste. India produced 0.668 million tonnes of e-waste in 2022, marking a 163% growth from 2010. The report notes India’s efforts to minimize the impact of product packaging and waste, and to advance sustainable transportation and delivery. Developing countries in Asia, particularly China, generated most of the e-waste in 2022.

Key Points:

• Global e-waste reached 62 million tonnes in 2022.
• Annual smartphone shipments doubled since 2010.
• IoT devices are expected to increase to 39 billion by 2029.

Banking & Finance

BBVA and IFC Launch World’s First Biodiversity Bond

On July 12, 2024, BBVA Colombia and the International Finance Corporation (IFC) launched the world’s first biodiversity bond, amounting to USD 70 million. The bond aims to combat biodiversity loss by funding projects like reforestation, forest regeneration, and climate-smart agriculture. IFC will assist BBVA Colombia in setting eligibility criteria and reporting indicators for biodiversity projects.

Key Points:

• Initial tranche of USD 15 million issued by BBVA Colombia.
• In 2023, BBVA Colombia financed over 214.8 billion Colombian pesos in biodiversity-related areas.
• Colombia is the world’s most biodiverse country per square kilometer.

Economy & Business

IMF Raises India’s GDP Growth Forecast for FY25 to 7%

The International Monetary Fund (IMF) has updated its ‘World Economic Outlook’ report, increasing India’s GDP growth forecast for FY25 to 7%, up from 6.8% in April 2024. The global growth forecast for 2024 remains at 3.2%, with a slight increase to 3.3% in 2025. The report highlights that India and China will account for almost 50% of global growth in 2024.

Key Points:

• Global growth projected at 3.2% in 2024 and 3.3% in 2025.
• Growth in major advanced economies is becoming more aligned.

Awards & Recognitions

Indian Scientists Prahlad Chandra Agrawal & Anil Bhardwaj Receive COSPAR 2024 Awards

During the 45th COSPAR Scientific Assembly in Busan, South Korea, Indian scientists Prahlad Chandra Agrawal and Anil Bhardwaj were honored with prestigious awards. Agrawal received the COSPAR Harrie Massey Award, and Bhardwaj was awarded the Vikram Sarabhai Medal, a joint award by COSPAR and ISRO.

Key Points:

• Agrawal is known for his contributions to X-ray astronomy and was the Principal Investigator of AstroSat.
• Bhardwaj is the Director of Physical Research Laboratory and has contributed to ISRO’s scientific missions.

Appointments & Resignations

Roberta Metsola Re-elected as President of European Parliament

Roberta Metsola has been re-elected as President of the European Parliament, becoming the first woman to win a second term. She secured 562 out of 699 votes, defeating her opponent Irene Montero. Metsola has been a member of the European Parliament since 2013 and served as acting President following the death of David Sassoli in January 2022.

Key Points:

• Metsola was the first Maltese to become the First Vice-President of the European Parliament.
• She has expertise in European law and politics.

Sports

Spain Wins UEFA Euro 2024 Championship

Spain clinched their fourth UEFA European Football Championship title by defeating England 2-1 in the finals held at the Olympiastadion in Berlin, Germany. The tournament, hosted by Germany, took place from June 14 to July 14, 2024.

Key Points:

• Spain previously won the title in 1964, 2008, and 2012.
• Notable retirements include Germany’s Thomas Müller and France’s Olivier Giroud.

Argentina Wins Copa America 2024

Argentina won the 48th edition of Copa America by defeating Colombia in the finals held at the Hard Rock Stadium in Florida, USA. This victory marks Argentina’s 16th Copa America title, making them the most successful team in the tournament’s history.

Key Points:

• Argentina now leads with 16 titles, followed by Uruguay (15) and Brazil (9).

India Wins World Championship of Legends 2024

India, led by Yuvraj Singh, won the inaugural World Championship of Legends by defeating Pakistan in the finals held in Birmingham, England. The tournament featured retired international cricketers and was approved by the England and Wales Cricket Board.

Key Points:

• Ambati Rayudu was named Player of the Match.
• Yusuf Pathan was named Player of the Series.

James Anderson Retires from International Cricket

England fast bowler James Anderson retired from international cricket after the Test match against the West Indies at Lord’s. Anderson is the only seam bowler to take 700 wickets in Test cricket and is the third-highest test wicket-taker in the world.

Key Points:

• Anderson played 188 test matches, second only to Sachin Tendulkar’s 200.
• He made his international debut in 2002-03 against Australia.

Saudi Arabia to Host First Olympic Esports Games in 2025

Saudi Arabia will host the first Olympic Esports Games in 2025, following a 12-year deal with the International Olympic Committee (IOC). This initiative aligns with Saudi Arabia’s Vision 2030, aiming to transform the nation’s social and economic landscape.

Key Points:

• Saudi Arabia has hosted over 100 international sporting events since 2018.
• Riyadh will also host the 2027 Asian Cup and the 2034 Asian Games.

Obituary

Subhash Dandekar, Chairman Emeritus of Camlin, Passes Away

Subhash Dandekar, Chairman Emeritus of Kokuyo Camlin Limited, passed away at the age of 86. He led the company’s diversification into art materials and served as its Executive Chairman until 2002.

Key Points:

• Dandekar expanded Camlin’s product range to include office supplies and professional artist tools.
• He received several awards, including the Sahyadri Navratna Puraskar and the Lifetime Achievement Award by the Colours Society.

Important Days

Day of International Criminal Justice 2024 – July 17

The Day of International Criminal Justice is observed annually on July 17 to mark the anniversary of the adoption of the Rome Statute in 1998, the founding treaty of the International Criminal Court (ICC). This year marks the 26th anniversary of the Rome Statute.

Key Points:

• The Rome Statute was adopted by 120 States and entered into force on July 1, 2002.
• The ICC is headquartered in The Hague, Netherlands.