Who has become a new (97th) member of the International Solar Alliance?

Daily Current Affairs

Panama

Spain

Kenya

Argentina

Correct Answer : Panama

Panama has officially ratified the International Solar Alliance (ISA), marking its entry as the 97th member nation. The information was divulged by Randhir Jaiswal, spokesperson of the Ministry of External Affairs.

In a post on X, Randhir Jaiswal @MEAIndia tweets, "Panama becomes the 97th member to ratify the ISA. Panama handed over the Instrument of @isolaralliance Ratification, during the meeting of Ambassador Yasiel Burillo of Panama to India, with Joint Secretary (Economic Diplomacy) @Abhishekifs in New Delhi today."

Panama's commitment to sustainable energy was underscored as Ambassador Yasiel Burillo presented the Instrument of Ratification to Joint Secretary (Economic Diplomacy) Abhishekifs during a meeting in New Delhi today.

This formal act solidifies Panama's pledge to collaborate within the framework of the ISA, joining other nations in the pursuit of harnessing solar energy for a greener future.

Joint Secretary (ED & MER), MEA Abhishek Singh expressed gratitude for Panama's commitment, highlighting the importance of international collaboration in advancing renewable energy solutions.

Moreover, on 5th March 2024, Malta became the 119th country to join the International Solar Alliance, the Ministry of External Affairs said.

ISA was conceived as a joint effort by India and France. Currently, 116 countries are signatories to the ISA Framework Agreement.

"The International Solar Alliance (ISA) is an action-oriented, member-driven, collaborative platform for increased deployment of solar energy technologies as a means for bringing energy access, ensuring energy security, and driving energy transition in its member countries," the ISA website reads.

Notably, the sixth assembly of the International Solar Alliance was hosted at 'Bharat Mandapam,' Pragati Maidan in the national capital on October 31.

ISA Director General Ajay Mathur had said that the investment in solar is expected to be 380 billion dollars this year (2024), as last year witnessed an investment of 310 billion.

He also said that the ISA is supporting the growth of 9.5 GW of solar energy in projects across the world..

Source : Business Standard

Published On : March 8, 2024

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