ECONOMIC DEVELOPMENT

GS-2: International Relations (India-U.S. Trade Relations, WTO & Tariff Issues) GS-3: Economy (Trade Barriers, Intellectual Property Rights) Key Highlights India-U.S. Bilateral Trade Talks Progress: Commerce Minister Piyush Goyal met U.S. officials in Washington to advance a bilateral trade agreement (BTA). India aims to reduce tariffs, enhance market access, and deepen …

GS3 ECONOMIC DEVELOPMENT: One Nation-One Port Process (ONOP) Standardises port operations across India. Reduces container documentation by 33% and bulk cargo documentation by 29%. Enhances trade efficiency and global competitiveness. Sagar Ankalan Logistics Port Performance Index (LPPI) Benchmarks port efficiency in cargo handling and turnaround time. Promotes transparency and operational …

GS3 ECONOMIC DEVELOPMENT:  Context: Meta has launched Project Waterworth, a groundbreaking subsea internet cable initiative that will span 50,000 km, making it the world’s longest subsea cable system. About Project Waterworth: Objective: To enhance global internet infrastructure, improving connectivity across regions like the United States, India, Brazil, and South Africa. …

GS3 ECONOMIC DEVELOPMENT The Reserve Bank of India (RBI) conducted a $5 billion dollar-rupee swap to inject liquidity into the Indian financial system amidst ongoing liquidity deficits and global market concerns. The operation attracted $25.6 billion in bids, showing strong demand for dollars. The transaction will be reversed on August …

GS3 ECONOMIC DEVELOPMENT  The World Economic Forum (WEF) has released the Centre for the Fourth Industrial Revolution Network 2023-2024 Impact Report, which highlights significant initiatives like the use of drones for healthcare delivery in India and how innovation can address global challenges. Key Highlights of the Report Seven Core Thematic …

GS3 ECONOMIC DEVELOPMENT The India-Middle East-Europe Economic Corridor (IMEEC) is gaining momentum with recent initiatives from RITES to improve trade and connectivity between India, the Middle East, and Europe. RITES is focusing on creating a digital interface for cargo clearance between Indian and Middle Eastern ports, marking the first phase …

GS3 ECONOMIC DEVELOPMENT The revised administered ex-mill price of ethanol derived from C Heavy Molasses (CHM) for the Ethanol Supply Year (ESY) 2024-25 (spanning November 2024 to October 2025) has been set at Rs. 57.97 per litre, up from Rs. 56.58. This adjustment is part of the Ethanol Blended Petrol …

GS3 ECONOMIC DEVELOPMENT  Recent studies highlight a significant rise in breast cancer cases in India, with projections estimating an additional 50,000 cases annually. The economic cost of this trend is expected to reach $19.55 billion per year by 2030, stressing the urgent need for healthcare reforms. Rising Incidence Breast cancer …

GS3 – ECONOMIC DEVELOPMENT The Reserve Bank of India (RBI) has published its Financial Stability Report (FSR) for December 2024, offering insights into the health, risks, and resilience of India’s financial sector. What is the Financial Stability Report (FSR)? Frequency: Released biannually (June and December). Purpose: Evaluates risks to the …