Bharat Electronics Limited has recently signed a contract worth Rs 445 crore with which state government?

Daily Current Affairs

Bihar

Assam

Uttar Pradesh

Himachal Pradesh

Correct Answer : Uttar Pradesh

Shares of Bharat Electronics, a Navratna PSU under the Ministry of Defence, Government of India, jumped 5.5% to hit a new all-time high of â‚¹184.50 apiece in today's (26th Dec 2023) trade after the company received orders worth â‚¹678 crore.

In today's exchange filing, the company said it had signed a contract for a value of â‚¹445 crore with the UP government for the next-generation UP (Uttar Pradesh) Dial 112 project. The company will provide comprehensive and state-of-the-art hardware, AI-based software tools, and cybersecurity solutions for the Dial 112 project, which is spread across the entire state of Uttar Pradesh.

“BEL is happy to be associated with the UP Government for this project, which is one of Asia's biggest emergency response system. BEL will be utilising the ecosystem of domestic suppliers, including MSMEs, for the execution of this project," the company's exchange filing said.

In addition, the company said it has also received additional orders worth â‚¹233 crore, which pertain to communication display units, thermal imaging cameras, and other miscellaneous spares and services.

Strong order wins :

Last week, the company received orders worth â‚¹2,673 crore from Goa Shipyard Limited and Garden Reach Shipbuilders & Engineers for the supply of 14 types of sensors for use on Next Generation Offshore Patrol Vessels (NGOPV).

On December 15, the Ministry of Defence entered into a significant agreement with BEL, Pune, for the acquisition of electronic fuzes for the Indian Army over a 10-year period, with a total investment of â‚¹5,336.25 crore.

With the latest order wins, Bharat Electronics Limited has accumulated orders totaling â‚¹26,613 crore in the ongoing financial year 2023–24.

Meanwhile, global brokerage firm UBS has lifted its target price on BEL to â‚¹205 apiece, citing the company's improving earnings growth visibility and an expanding order pipeline..

Source : Mint

Published On : December 27, 2023

Solar’s Ascendance in India :

In 2015, India ranked ninth in solar energy deployment, but by 2023, it produced 5.8% of its electricity from solar, up from 0.5% in 2015. This significant increase underscores India’s commitment to clean energy and its pivotal role in mitigating climate change.

Global Solar Growth Trends :

Ember’s report highlights that solar energy witnessed a remarkable increase globally, with 2023’s solar generation exceeding six times that of 2015. The top four solar growth countries, including India, accounted for 75% of this growth, emphasizing the widespread adoption of solar power worldwide.

Published On : May 9, 2024

Q .

India's Toy Exports Slip to _____ Million in 2023-24

$102.92

$121.19

$139.53

$152.34

Correct Answer : Option (D) - $152.34

India’s toy exports experienced a slight decline to USD 152.34 million in the fiscal year 2023-24, with limited benefits from quality control measures. Despite efforts to bolster the domestic industry and ensure product safety, exports did not see significant improvement.

Declining Export Trends :

Export figures dropped marginally from USD 153.89 million in the previous fiscal year to USD 152.34 million in 2023-24, as outlined by the Global Trade Research Initiative (GTRI). Despite a modest increase in exports from FY’2020 to FY’2022, the subsequent year witnessed a downturn.

Import Trends :

Conversely, imports rose to USD 64.92 million in 2023-24 from USD 62.37 million in the preceding year, indicating a persistent challenge in balancing trade dynamics.

GTRI’s Recommendations :

Comprehensive Industry Development Strategy : GTRI Founder Ajay Srivastava emphasized the necessity for a holistic approach to foster the growth of India’s toy industry and bolster exports.

Domestic Ecosystem Strengthening : Developing a robust domestic ecosystem is paramount, alongside measures to encourage renowned global toy brands to establish manufacturing facilities within India’s borders.

Published On : May 9, 2024

Q .

India Leads Global Remittances, Surpassing _____ Billion Mark.

$50

$100

$200

$250

Correct Answer : Option (B) - $100

India emerged as the global leader in remittances in 2022, receiving over $111 billion, surpassing the $100 billion mark for the first time. The International Organisation for Migration (IOM) highlighted India, alongside Mexico, China, the Philippines, and France, as the top five remittance recipient countries.

Consistent Growth: From $53.48 Billion to $111.22 Billion

The UN’s World Migration Report 2024 underscored India’s consistent growth in remittances, noting a rise from $53.48 billion in 2010 to $111.22 billion in 2022. This significant increase showcases India’s pivotal role in the global remittance landscape.

Southern Asia’s Significance in Global Remittances :

The IOM emphasized Southern Asia’s importance as a major recipient of global remittances, attributed to its high proportion of migrant workers and emigrants. India, Pakistan, and Bangladesh all ranked among the top ten recipients worldwide, highlighting the sub-region’s reliance on labor migration.

Prominent Migration Corridors and Destination Countries :

While India ranks 13th as a destination country for immigrants, it features prominently in various international migration corridors, including India-United Arab Emirates, India-Saudi Arabia, and Bangladesh-India, all of which are among the top 10. This indicates India’s significant role in global labor migration patterns.

Published On : May 9, 2024