Which government on 6th Feb 2023 launched the india's first new mobility-focused cluster?

Daily Current Affairs

Gujarat

Karnataka

Telangana

Uttar Pradesh

Correct Answer : Telangana

The Telangana government on Monday (6th Feb 2023) launched the country's first new mobility-focused cluster, Telangana Mobility Valley' (TMV).

TMV aim : To attract investments of around Rs 50,000 crore and generate more than 4 lakh jobs in the next five years in the state.

* In his inaugural address at the first edition of Mobility Next Hyderabad Summit part of the Hyderabad E-Mobility Week, state Minister for IT, Industries and Commerce K T Rama Rao.

* To further accelerate growth of sustainability mobility in India, I hereby announce India's first New Mobility focused cluster, the Telangana Mobility Valley.

* Rama Rao noted that the government is developing four mega clusters in and around Hyderabad--EV Manufacturing clusters,

* Energy storage system (ESS) cluster and Innovation cluster.

* TMV aims to facilitate companies across all segments of sustainable mobility including Electric 2Wheelers/ 3 wheelers/ 4 wheelers, Advanced Cell Chemistry and Hydrogen fuel cells, Tier 1 and Tier 2 Component manufacturers and Auto Engineering R&D companies among others.

* Rama Rao further said investments aggregating to Rs 3,000 crore plus are in advanced stages and will be announced in the next two weeks. These investments will further strengthen Electric 3-wheeler, Electric 2-wheeler and charging equipment manufacturing ecosystem in Telangana.

Source : Business Standard

Published On : February 8, 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