Which Company has signed an MoU with Israel Aerospace Industries for the domestic manufacture and supply of its LORA Weapon System for the Indian Tri-services?

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Bharat Electronics Limited (BEL)

BEML Limited

Hindustan Aeronautics Limited (HAL)

Defence Research and Development Organisation (DRDO)

Correct Answer : Bharat Electronics Limited (BEL)

Defence PSU Bharat Electronics Ltd. (BEL) has signed an MoU with Israel Aerospace Industries (IAI) for domestic manufacture and supply of its Long-Range Artillery (LORA) Weapon System for the Indian Tri-services.

* The state-of-the-art strategic weapon system weapon will be manufactured by BEL, as the prime contractor, based on the workshare arrangement with IAI.

* The MoU is an outcome of the growing partnership between India and Israel in the field of high technology strategic defence systems, and is in line with the Government of India’s Make in India initiative for major weapon systems.

* Developed by IAI’s MALAM division, LORA is a sea-to-ground and ground-to-ground system which comprises a long-range ballistic missile, a unique launcher, a command and control system, and a ground/marine support system.

* The LORA system provides ballistic assault capabilities for multiple ranges with a precision level of 10 meters CEP.

* The MoU was signed at the ongoing Aero India 2023 and it is an outcome of the growing partnership between India and Israel in the field of high-technology strategic defense systems.

* It is in line with the Government of India’s ‘Make in India’ initiative for major weapon systems.

* Defence Minister Rajnath Singh informed that India is set to spend 75% of defense capital outlay on procurement from domestic firms...

Source : The Hindu

Published On : February 18, 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