Which country to sign Rs 2400 crore deal for missiles, torpedoes for Indian Navy?

Daily Current Affairs

France

United States

Russia

Israel

Correct Answer : United States

India is going to sign a weapons deal with the United States soon to buy American weapons, including the Hellfire missiles and Mark 54 anti-submarine torpedoes, in a step towards strengthening their military hardware cooperation.

* These weapons are going to be fitted on the 24 MH-60 helicopters that are going to be fully inducted into the Navy in the near future.

* The proposal for buying the weapons package for the MH-60 Romeo choppers is being moved forward briskly and the deal is expected to be signed sooner. Speaking to India Today, top government officials informed that the deal would be inked under the Foreign Military Sales route.

* The plan to induct the Hellfire missile missiles, which are precision-guided weapons, comes after they have been used by the American forces against high-value targets. The other major weapon includes the MK 54 lightweight torpedoes which are used by US surface ships, fixed-wing aircraft and helicopters, and are their primary anti-submarine warfare weapon.

* It is also already inducted into the Indian Navy’s P-8I anti-submarine warfare and surveillance planes. India and the US have signed an over-Rs 16,000 crore deal to buy 24 MH-60 Romeo helicopters from Lockheed Martin in 2020 under fast-track procedures in a government-to-government deal to hasten the process.

* The 24 MH-60 Romeos would be equipped with multimode radars and night-vision devices as well as armed with missiles, torpedoes and other precision-guided weaponry. The MH-60s are going to replace Sea King choppers which will be on their way out of the force very soon.

* The MH-69 helicopters can operate from frigates, destroyers, cruisers and aircraft carriers..

Source : India Today

Published On : April 5, 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