With whom did Hindustan Aeronautics Limited tie up for the production of Light Combat Aircraft for the Indian Air Force?

Daily Current Affairs

GE Aerospace

Airbus

Boeing

Collins Aerospace

Correct Answer : GE Aerospace

As Prime Minister Narendra Modi is on his maiden US State visit, GE Aerospace said Thursday (22nd June 2023) that it has signed a Memorandum of Understanding (MoU) with Hindustan Aeronautics Limited (HAL) to produce fighter jet engines for the Indian Air Force (IAF).

GE Aerospace and HAL have reached an agreement that includes potential joint production of GE Aerospace's F414 engines in India. The collaboration is part of the Indian Air Force's Light Combat Aircraft (LAC) Mk2 program. However, GE Aerospace is currently working with the US government to obtain the necessary export authorization for this endeavour.

The plans to develop complex jet engine technology in India by Ohio-based GE Aerospace, a subsidiary of GE, has been under discussion for over a year now.

GE's plan to manufacture fighter jet engines, a multi-billion dollar government-to-government deal, during US Secretary of Defense Lloyd Austin's visit to India in May.

The MoU between HAL and GE Aerospace represents a significant step forward for GE's involvement in India.

The agreement builds upon GE Aerospace's previous commitment to manufacturing 99 engines for the IAF under the LCA Mk2 program. This new development positions GE Aerospace favourably to expand its product offerings in India, including the F404 engine currently used in the LCA Mk1 and LCA Mk1A aircraft.

Furthermore, GE Aerospace's F414-INS6 engine has been selected for the prototype development, testing, and certification of the Advanced Medium Combat Aircraft (AMCA) program.

Published On : June 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