Which Indian American has been named as the Deputy CEO of the US Finance Agency?

Daily Current Affairs

Sonia Shah

Preethi Singh

Amita Kanekar

Nisha Desai Biswal

Correct Answer : Nisha Desai Biswal

US President Joe Biden announced his intent to nominate Indian-American "Nisha Desai Biswal" as Deputy Chief Executive Officer of the United States International Development Finance Corporation.

Who is Nisha Desai Biswal?

* The White House said Biswal brings over 30 years of experience in US foreign policy and international development programs within the Executive Branch, Congress, and the private sector.

* She served as Assistant Secretary of State for South and Central Asia during the Obama Administration and is currently holding the post of Senior Vice President for International Strategy and Global Initiatives at the US Chamber of Commerce.

* She oversees the US India Business Council and the US Bangladesh Business Council.

* Biswal also served as Assistant Secretary for South and Central Asian Affairs at the US Department of State from 2013 to 2017, where she oversaw the US-India strategic partnership during a period of unprecedented cooperation, including the launch of an annual US-India Strategic and Commercial Dialogue, the White House said.

* During her tenure as Assistant Secretary, Biswal also initiated the C5+1 Dialogue with Central Asia and the US-Bangladesh Partnership Dialogue.

* Before this, she was Assistant Administrator for Asia at the US Agency for International Development (USAID). She was responsible for directing and supervising USAID programs and operations across South, Central, and Southeast Asia...

Source : CNBC

Published On : March 22, 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