Key Developments on 26 September 2024
On 26 September 2024, several pivotal developments unfolded across various sectors in India and internationally. This report delves into these key stories, offering insights into their implications and future trajectories.
Minerals Security Finance Network (MSFN)
India has officially joined the US-led Minerals Security Finance Network (MSFN), a strategic initiative aimed at securing supply chains for critical minerals essential for clean energy transitions. This partnership involves 14 countries and the European Union, focusing on reducing dependency on countries like China for rare earth minerals. The move aligns with India’s goals to bolster its electric vehicle and electronics manufacturing sectors.
India-Australia CECA Talks
India and Australia are progressing in negotiations for the Comprehensive Economic Cooperation Agreement (CECA). This agreement builds upon the Economic Cooperation and Trade Agreement (ECTA) signed in 2022. A key focus of CECA is to enhance labor cooperation and eliminate forced labor practices. The ongoing talks reflect both nations’ commitment to strengthening economic ties and addressing labor rights concerns.
Global Initiative on Digital Health
The World Health Organization (WHO) launched the Global Initiative on Digital Health (GIDH), a platform agreed upon during India’s G20 presidency. This initiative aims to democratize digital health technologies globally, promoting knowledge sharing and resource alignment among countries. India’s Ayushman Bharat Digital Mission plays a crucial role in this framework, highlighting the country’s leadership in digital health transformation.
10 Years of Make in India
Celebrating a decade since its inception, the “Make in India” initiative continues to drive the country’s manufacturing sector towards global competitiveness. Launched by Prime Minister Narendra Modi in 2014, this campaign focuses on enhancing investment, innovation, and infrastructure development. It aims to position India as a global manufacturing hub by fostering a conducive business environment
News in Brief
Differential Rotation of the Sun: Recent studies provide new insights into solar dynamics, impacting climate research.
Asia Power Index 2024: The latest index highlights shifts in regional power dynamics, emphasizing India’s growing influence.
Clause 6 of the Assam Accord: Efforts are underway to implement recommendations for safeguarding Assamese cultural identity.
Quality Control Order (QCO) for Medical Textiles: The QCO aims to ensure quality standards in medical textiles, impacting domestic manufacturers.
Priority Sector Lending: Discussions are ongoing regarding the inclusion of electric vehicles under priority sector lending norms to boost funding access.
ADB Inflation Forecast: The Asian Development Bank has raised its inflation forecast for India, citing robust investment demand as a driving factor.
Women in Space Leadership Programme: This initiative aims to enhance female representation in space exploration roles.
Central Silk Board: New strategies are being implemented to boost silk production and support rural economies.
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