Which Company has Inked an MoU with Israel Aerospace Industries (IAI) for India's Short Range Air Defence Systems?

Daily Current Affairs

HAL

BEML

BEL

BHEL

Correct Answer : BEL

Bharat Electronics Limited & Israel Aerospace Industries (IAI) sign MoU to tap opportunities in Short Range Air Defence Systems’ domain Navratna Defence PSU Bharat Electronics Limited (BEL) and Israel Aerospace Industries (IAI), Israel’s leading aerospace and defence company, have inked an MoU for co-operation in addressing India’s requirements in the domain of Short Range Air Defence Systems.

The MoU was signed by Mr K V Suresh Kumar, Director (Marketing), BEL, and Mr Avi Elisha, VP and General Manager, Missile Systems Division, IAI, in the presence of Mr Bhanu Prakash Srivastava, CMD, BEL, in Bengaluru on 1s September 2023.

The partnership marks yet another significant step towards cementing the synergy between the two companies which have a long history of association. BEL and IAI are engaged in several joint development/production/product support programmes for the Indian Defence forces.

Aim : The MoU aims at leveraging IAI and BEL’s capabilities and is in sync with the ‘Atmanirbhar Bharat’ and ‘Make in India’ policies of the Government of India.

Mr Bhanu Prakash Srivastava, CMD, BEL, said : “BEL considers IAI, Israel, as a key strategic partner. This MoU is envisaged to boost the cooperation between the two companies in the field of Short Range Air Defence Systems. It will empower the Indian industry to make significant contributions towards equipping our forces with state-of-the-art Short Range Air Defence Systems.”

Mr Boaz Levy, IAI's President and CEO, said : “BEL and IAI have a successful partnership in the field of Air Defence in India.

Together, we are providing the Indian Armed Forces with high-end Air Defence capabilities that meet their high-end operational requirements on one hand and ‘Make in India’ requirements on the other. Hence, it is only natural that we expand this cooperation to the Short Range Air Defence domain.”,

Source : PSU Connect

Published On : September 6, 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