Correct Answer :   Gandhinagar

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The 3rd G20 Finance Ministers and Central Bank Governors (FMCBG) meeting under the Indian Presidency was held during 17-18 July 2023 in Gandhinagar, Gujarat.

The meeting was jointly chaired by Union Minister of Finance and Corporate Affairs Smt. Nirmala Sitharaman, and Governor, Reserve Bank of India, Shri Shaktikanta Das.

Over 500 delegates, including Finance Ministers and Central Bank Governors from G20 member countries, Invitee Countries, and Heads of various International Organisations (IOs) participated in the meeting.

The FMCBG meeting was preceded by the Third G20 Finance and Central Bank Deputies (FCBD) meeting during 14-15 July 2023 in Gandhinagar, Gujarat.

Theme : Under the Indian Presidency’s theme of “One Earth, One Family, One Future”, G20 Ministers and Governors pledged to prioritise the well-being of the people and the planet and reaffirmed their commitment to enhancing international economic cooperation, strengthening global development for all and steering the global economy towards strong, sustainable, balanced, and inclusive growth (SSBIG).

Inportant sessions : The meeting was organised in five thematic sessions covering :

* Global Economy and Global Health
* Sustainable Finance and Infrastructure
* International Financial Architecture
* International Taxation
* Financial Sector & Financial Inclusion.

Aim : The aim of the round table session was to discuss and deliberate on some of the key questions pertaining to the crypto assets, in an open and candid manner. The session saw active participation from the G20 Finance Ministers, Governors, and the Heads of IMF, FSB, and FATF – institutions that are instrumental in the on-going work on crypto asset ecosystem. The views generated in the round table discussion will provide important inputs to the Synthesis paper..

Source : PIB

Correct Answer :   South Korea

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South Korea will hold an international defence exhibition in October 2023 to showcase advanced military hardware and technologies, amid Seoul's push to become a significant player in the global  market, Yonhap news agency reported.

The six-day Seoul International Aerospace & Defense Exhibition (ADEX) 2023 will kick off on Oct. 17 at Seoul Air Base in Seongnam, just south of Seoul, involving 550 companies from 35 countries, the organizers said.

It would mark the largest-ever edition of the exhibition, which first launched in 1996.

During this year's (2023) event, the organizers seek to hold various aircraft demonstrations and exhibit advanced military assets and equipment, including F-35 radar-evading fighter jets, FA-50 light attack aircraft, K2 battle tanks and K9A1 self-propelled howitzers, Yonhap news agency reported.

Yonhap News Agency delivers news to its customers as well as newspapers, broadcasters, government agencies, businesses and Internet portals on a real-time basis. They are also in talks with the US military to showcase its aircraft and other assets to mark the 70th anniversary of the South Korea-US alliance this year (2023).

The first four days will host various seminars and forums for defence industry officials before the exhibition is opened to the general public in the last two days.

The exhibition's previous edition 2021 featured hydrogen-fuel drones, virtual reality-based training systems, laser weapons systems, multipurpose unmanned vehicles, and military aircraft, including FA-50 fighters.

This year's event will take place after South Korea unveiled a goal last year to become the world's fourth-largest defence exporter by 2027..

Source : ANI

Correct Answer :   Ashok Leyland

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Mumbai, Commercial vehicle maker Ashok Leyland on Monday (17th July 2023) said it has bagged orders worth Rs 800 crore from the Indian Army.

The contracts awarded also include the procurement of the Field Artillery Tractor (FAT 4x4) and the Gun Towing Vehicle (GTV 6x6), Ashok Leyland said in a statement.

"We have secured these orders from the Indian Army. The Defence business has been a strong pillar of growth for us, and this win further establishes our leadership in Defence mobility vehicles business, said Shenu Agarwal, Managing Director and Chief Executive Officer at Ashok Leyland.

The vehicles will be delivered over the next 12 months to meet the requirements of the Indian Army, the company said.

The FAT 4x4 and GTV 6x6 are specialised vehicles employed by the artillery for towing light and medium guns, respectively, according to the company.

"Ashok Leyland's dependable mobility solutions have consistently remained a formidable asset within the defense sector, catering to the diverse needs of personnel and logistics across the armed forces," said Amandeep Singh, President for Defence Business at Ashok Leyland.

Ashok Leyland has invested in development of mobility platforms ranging from 4x4, 6x6, 8x8, 10x10 & 12x12 for various applications and operational requirements of the Indian Armed Forces, he stated.

These platforms are indigenously designed, developed and manufactured by Ashok Leyland and contribute significantly towards import substitution, according to the company..

Source : Economic Times

Correct Answer :   Singapore

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According to the Henley Passport Index 2023, published by Henley & Partners, Singapore becomes the world’s most powerful passport with visa-free access to 192 travel destinations out of 227 around the world.

* While India ranked 80th with visa-free entry to 57 nations.

* Germany, Italy, and Spain shared second place with 190 visa-free destinations.

* Japan has slipped to third place as the number of destinations its passport can access without a visa fell to 189.

Here’s the list of top 10 powerful passports :

* Rank 1: Singapore (Number of countries allowed visa-free: 192)
* Rank 2: Germany, Italy and Spain (Number of countries allowed visa-free: 190)
* Rank 3: Austria, Finland, France, Luxembourg, South Korea, Sweden and Japan (Number of countries allowed visa-free: 189)
* Rank 4: Denmark, Ireland, Netherlands, United Kingdom (Number of countries allowed visa-free: 188)
* Rank 5: Czech Republic, Malta, New Zealand, Norway, Portugal, Switzerland (Number of countries allowed visa-free: 187)
* Rank 6: Australia, Hungary, Poland (Number of countries allowed visa-free: 186)
* Rank 7: Greece, Canada (Number of countries allowed visa-free: 185)
* Rank 8: Lithuania, United States (Number of countries allowed visa-free: 184)
* Rank 9: Latvia, Slovakia, Slovenia (Number of countries allowed visa-free: 183)
* Rank 10: Iceland, Estonia (Number of countries allowed visa-free: 182).

Source : Times of India

Correct Answer :   Nokia

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Nokia announced an expansion of its corporate social responsibility (CSR) to the state of Gujarat with the establishment of a Nokia Centre of Excellence (CoE) in Skill Development in collaboration with Telecom Sector Skill Council (TSSC) and Kaushalya- TheSkill University, Ahmedabad, Gujarat.

The centre was inaugurated 17th July 2023 by Balvantsinh Rajput, cabinet minister for labour, skill development and employment, Government of Gujarat. He was accompanied by Kunvarjibhai Halpati, state minister, labour, skill development and employment, Government of Gujarat and Dr Anju Sharma, additional chief secretary, labour, skill development and employment.

The CoE at ITI Kubernagar is setting up a Skill Lab for training candidates in 5G technology skills with the aim of providing placement offers within 4-6 weeks of course completion to at least 70% of learners.

About 300 such candidates will benefit from the program in the first year of the project. Nokia will be investing in infrastructure, equipment and training for the five labs in the CoE as part of its India CSR program..

Source : Times of india

Correct Answer :   Neeraj Akhoury

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The Cement Manufacturers’ Association (CMA), the apex body of India’s large cement manufacturers, has elected Shree Cement Limited managing director "Neeraj Akhoury" and JSW Cement Limited managing director "Parth Jindal" as its president and vice-president, respectively.

They were elected at an extraordinary general meeting of the association on 14 July 2023, a statement on Monday (17th July 2023) said.

Akhoury brings with him more than 30 years of experience in steel and cement industries. He has worked in various leadership roles in India and other emerging markets.

"As a future direction, the Indian cement industry would like to reiterate its commitment to being India’s partner in nation building and for creating business value chains, supporting infrastructure growth and a sustainability agenda, with an emphasis on decarbonisation, aligned to country's priorities and working in close collaboration with policy planners, ministries and stakeholders," the statement quoting Akhoury said.

The CMA represents almost 80% of the total installed cement capacity in the country..

Source : Times of India

Correct Answer :   6.4%

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The Asian Development Bank (ADB) on Wednesday (19th July 2023) retained forecast for India's economic growth at 6.4% for this fiscal year FY (2023-24) and 6.7% for the next FY (2024-25), as it's bullish that robust domestic demand will continue to support the region's recovery.

In an update to its Asian Development Outlook, the ADB said inflation is expected to continue to ease, approaching pre-pandemic levels as fuel and food prices decline. It forecast 3.6% inflation this year for developing economies in Asia, and 3.4% in 2024.

The Indian economy grew 7.2% in the 2022-23 fiscal ended March 2023.

"Asia and the Pacific continues to recover from the pandemic at a steady pace," ADB Chief Economist Albert Park said.

"Domestic demand and services activity are driving growth, while many economies are also benefiting from a strong recovery in tourism. However, industrial activity and exports remain weak, and the outlook for global growth and demand next year has worsened, Park added.

In April, the ADB had projected that India's economic growth is expected to moderate to 6.4% in the current financial year due to tight monetary conditions and elevated oil prices..

Source : Economic Times

Correct Answer :   Goa

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The 4th Energy Transitions Working Group Meeting (ETWG) under India’s G20 Presidency will be held in Goa on July 19th to 22nd, 2023.

The two-day meeting will bring together over 100 delegates from G20 member countries, special invitee countries, and several International Organisations.

The 4th ETWG Meeting will be chaired by Shri Pankaj Agrwal, who serves as the ETWG Chair and Secretary, Ministry of Power, Govt. of India. Shri Bhupinder Singh Bhalla, Secretary, Ministry of New and Renewable Energy, Shri Vivek Bharadwaj, Secretary, Ministry of Mines, and Shri Amrit Lal Meena, Secretary, Ministry of Coal, will also be part of the meeting and participate in the deliberations.  

There are six priority areas outlined under India’s G20 Presidency.

These priority areas reflect India's focus on various aspects of energy transition and building global cooperation toward sustainable and clean energy development.

The six priority areas are  :

(i) Energy transitions through addressing technology gaps
(ii) Low-cost financing for energy transitions
(iii) Energy security and diversified supply chains
(iv) Energy efficiency, industrial low carbon transitions, and responsible consumption
(v) Fuels for Future (3F)
(vi) Universal access to clean energy and just, affordable, and inclusive energy transition pathways.

These Priority Areas focus on healing our ‘One Earth’, creating harmony within our ‘One Family’, and giving hope for our ‘One Future’.

The discussions in the 4th ETWG meeting in Goa will continue to build on the first three meetings in Bengaluru, Gandhinagar, and Mumbai respectively, to identify and promote best practices, policies, and innovative approaches that support a just and inclusive energy transition. The key highlight of the 4th ETWG meeting will be the detailed discussions on the draft Ministerial Communique, which is currently under discussion and will be further firmed up.

On the sidelines of the ETWG, the Meeting will be complemented by various side events – ‘Enabling policies to accelerate e-mobility’, ‘Promoting solar energy for universal energy access’, ‘DRE applications for achieving SDG7 goals’, ‘Drive for advancing knowledge and solutions through aggregation in energy efficiency’, and ‘Powering progress in Global South – accessible and affordable clean energy for all.’

The 14th edition of CEM is simultaneously being organized by the Bureau of Energy Efficiency (BEE), under the Ministry of Power, and the Department of Science and Technology, Ministry of Science and Technology, in Goa from July 19th to 22nd, 2023.

The theme of CEM14/MI-8 is ‘Advancing Clean Energy Together.’

At CEM14/MI-8, over 80 side events are being organized focusing on a range of clean energy topics. Top business and energy leaders from across the world are expected to be part of these meetings. Under the aegis of CEM14/MI-8, a Technology and Cultural showcase is being organized at the Shyama Prasad Mukherjee Indoor Stadium in Goa which will feature new and emerging technologies like Electric Vehicles, Hydrogen, and other clean technologies from across the world and provide a unique experience to visitors.

The 4th ETWG Meeting concludes on July 20, 2023. The Ministerial meeting, which marks the culmination of the ETWG meetings, will be held in Goa on 22nd July. The Ministerial meeting will have the participation of esteemed Ministers and representatives from the G20 and other invited countries. Union Minister of Power, and New and Renewable Energy, Shri RK Singh will chair the G20 Energy Ministerial meeting...

Source : PIB 

Correct Answer :   France

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India and France agreed to develop new generation military equipment as part of a long-term roadmap during Prime Minister Narendra Modi's visit to Paris, French Ambassador Emmanuel Lenain said on Tuesday (18th July 2023).

The envoy also said that there is "real" political consensus in France on enhancing ties with India as he cited Modi's meetings with President of the French Senate Gerard Larcher, President of French National Assembly Yael Braun-Pivet and Prime Minister Elisabeth Borne.

"It shows that when it comes to India in France, there is real consensus. There is no difference. Everybody is so supportive and that is one of the trademarks of this partnership," Lenain said at a media briefing.

Prime Minister Modi visited Paris on July 13 and 14, 2023 during which both sides reaffirmed their commitment to expand overall strategic cooperation including in defence.

"Defence cooperation has always been very important for the two countries as we feel that in order to be independent, we have to be secure. And in order to be secure, we need good equipment and technologies," Lenain said.

The Defence Acquisition Council, headed by Defence Minister Rajnath Singh, on July 13 accorded the approval for the purchase of 26 Rafale-M (naval variant) and the three-Scorpene submarine from France.

The envoy said the two countries are working on a roadmap to produce next-generation military equipment and technologies.

"We have decided to work and co-develop the next generation of equipment. And we are working on a roadmap in the defence field," he said without elaborating.

At the same time, Lenain said the defence cooperation between the two sides was much beyond one or two platforms as both sides are looking at expanding it significantly.

Ambassador Lenain described Modi's visit to Paris as a reflection of "trust and strong partnership" between the two countries.

"It was a very good and significant visit to send a strong message of trust and friendship," he added.

On the 1650 MW nuclear power project in Jaitapur in Maharashtra, the envoy said there has been some progress on it.

Both sides are engaged in talks to resolve all issues including those relating to civil nuclear liability, cost and techno-commercial matters.

During Modi's visit, both sides agreed to adopt a 25-year roadmap to set the course for the bilateral relationship up to 2047 to celebrate the centenary of India's independence and the centenary of the diplomatic relations between the two countries.

"The roadmap for the next 25 years will mean one century of bilateral relations. The roadmap is very very ambitious," Lenain said.

He said the two sides are committed to expanding cooperation in the Indo-Pacific as well.

Following talks between Prime Minister Modi and French President Emmanuel Macron, the two sides unveiled an India-France Indo-Pacific roadmap for boosting cooperation in the region.

"Our two countries believe in a free, open, inclusive, secure and peaceful Indo-Pacific region," the roadmap noted.

"We believe that the India-France partnership will be a crucial pillar of the inter-connected and intersecting arrangements in the Indo-Pacific region and indispensable for a peaceful and prosperous future for the Indo-Pacific region," it said..

Source : NDTV

Correct Answer :   Tamil Nadu

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NITI Aayog has recently released the Export Preparedness Index 2022. This time Tamil Nadu has achieved the top rank by leaving behind Maharashtra and Gujarat.

    The report discusses India’s export performance amid the prevailing global trade context in FY22, followed by an overview of the country’s sector-specific export performance.

What is the Export Preparedness Index?

    About :
        * EPI is a comprehensive tool which measures the export preparedness of the States and UTs in India.
        * Exports are vital for simulating economic growth and development in a country, which necessitates understanding the factors which influence export performance.
        * The index undertakes a comprehensive analysis of States and UTs across export-related parameters in order to identify their strengths and weaknesses.

    Pillars:
        Policy : A comprehensive trade policy providing a strategic direction for exports and imports.
        Business Ecosystem : An efficient business ecosystem helping states attract investments and create an enabling infrastructure for individuals to initiate start-ups.
        Export Ecosystem : Assess the business environment, which is specific to exports.
        Export Performance : This is the only output-based parameter and examines the reach of export footprints of States and UTs.

    Sub Pillars :
        * The index also took into consideration 10 sub-pillars: Export Promotion Policy; Institutional Framework; Business Environment; Infrastructure; Transport Connectivity; Export Infrastructure; Trade Support; R&D Infrastructure; Export Diversification; and Growth Orientation.

    Features : The EPI is a data-driven effort to identify the core areas crucial for export promotion at the sub-national level (states and union territories).
    It explores and highlights India’s export potential by examining the different contributions made by each state and union territories.

What are the Key Highlights of the EPI 2022?

Performance of States :

Top Performers :

Tamil Nadu has topped in EPI 2022, followed by Maharashtra and Karnataka.

Gujarat, which held the top position in EPI 2021 (released in 2022) has been pushed to the fourth slot in EPI 2022.

Tamil Nadu's performance in terms of export performance indicators, including the value of exports, export concentration, and global market footprint, contributed to its top ranking.

It has been a consistent leader in sectors such as automotive, leather, textiles, and electronic goods.

Hilly/Himalayan States :

            * Uttarakhand secured the top position among hilly/Himalayan states in the EPI 2022. It is followed by Himachal Pradesh, Manipur, Tripura, Sikkim, Nagaland, Meghalaya, Arunachal Pradesh, and Mizoram.


Landlocked Regions :

            * Haryana topped the chart among the landlocked regions, indicating its preparedness for exports.
            * It was followed by Telangana, Uttar Pradesh, Punjab, Madhya Pradesh, and Rajasthan.


Union Territories/Small States :

            * Among union territories and small states, Goa ranked first in the EPI 2022.
            * Jammu and Kashmir, Delhi, Andaman and Nicobar Islands, and Ladakh secured the second, third, fourth, and fifth positions, respectively.


Global Economy :

* Global trade in 2021 showed signs of recovery from the Covid-19. Factors like increased demand for goods, fiscal policies, vaccine distribution, and easing of restrictions contributed to a 27% increase in merchandise trade and a 16% increase in services trade compared to the previous year.

* The Russo-Ukrainian war in February 2022 slowed down the recovery, impacting sectors like grain, oil, and natural gas.

* Trade in goods saw significant growth, and services trade recovered to pre-pandemic levels by Q4 2021.


India’s Export Trends :

* Despite global slowdown, India’s exports in 2021-22 crossed an unprecedented USD 675 Billion, with trade in goods accounting for USD 420 billion.

* The value of merchandise exports crossed USD 400 billion in FY2022, an ambitious goal set by the government, reaching up to USD 422 billion by March 2022.

* The cause of this performance was manifold. Globally, the increase in prices of commodities and rise in demand from developed countries helped increase India’s merchandise exports.

What are the Key Learnings of the Exports Preparedness Index (EPI)?

* Coastal states have fared the best across all indicators with six out of the top states in the index coming from the coastal region of the country.

* States like Tamil Nadu, Maharashtra, Karnataka, and Gujarat (all of them performing the best in at least one pillar).

* In terms of strengths, the policy ecosystem is a positive story with multiple states adopting the necessary policy measures to drive exports in their states.

* At the district-level, 73 % of districts in the country have an export action plan and over 99 % are covered under the ‘One District One Product’ scheme.

* States have lagged in terms of transport connectivity. The absence of air connectivity hampers the movement of goods across regions, especially in states which are landlocked or geographically disadvantaged.

* The lower performance of the country in terms of Research and Development (R&D) indicates the lack of attention given to the role of innovation in exports.

* The state government has to both continue and extend its support to the industries which are struggling.

* 26 states in the country have registered a decrease in the gross value addition of their manufacturing sector.

* 10 states have registered a decrease in the inflow of Foreign Direct Investment (FDI).

* The lack of capacity-building workshops for exporters hampers their ability to penetrate the global markets as 25 of 36 states have organized less than 10 workshops across a year.

* For the effectiveness of existing government schemes to support states, timely approval of projects is a must.

What are the Recommendations of the EPI?

Adoption of Good Practices : States should be encouraged to adopt good practices from their peers if they suit their needs. Learning from successful states can help lagging states improve their export performance.

Investment in Research and Development (R&D) : States should invest in R&D to drive product innovation, market-specific product creation, improvement in product quality, cost reduction, and efficiency improvement.

* Establishing dedicated research institutes with regular funding can help states improve their exports.

Leveraging Geographical Indication (GI) Products : States should capitalize on their unique GI products to establish a presence in the global market. Promoting and improving the manufacturing and quality of GI products can boost exports.

* For example, Kancheepuram Silk products can only be exported by Tamil Nadu and have no competition across the country.

Diversification of Export Markets : Identifying and promoting high-growth sectors, such as information technology, pharmaceuticals, automotive, textiles, and renewable energy, can enhance India's export potential..

Source : PIB