Daily Current Affairs and GK | 3 December 2024

Topic: Agriculture and allied sectors

1. India’s organic food product export reached $448 Mn.

• In the first eight months of this fiscal, India’s organic food product export reached $448 Mn.
• As of 25 November, 263,050 metric tonnes (MT) of organic food products have been exported from India.
• The Agricultural and Processed Food Products Export Development Authority (APEDA) provides financial assistance to its member exporters for exporting organic food products.
• APEDA is implementing the National Programme for Organic Production (NPOP).
• It involves the accreditation of certification bodies, the development of standards for organic production, and promotion of organic farming and marketing.
• Under this programme, India has 1,016 organic-certified processing units.
• APEDA has joined hands with LuLu Group International (LLC) to showcase Indian organic products in its stores across the United Arab Emirates (UAE).
• APEDA is also promoting Indian agro and processed food exports by organizing B2B exhibitions in various countries.

Topic: Important Days

2. International Day of Persons with Disabilities: 3 December

• International Day of Persons with Disabilities is observed each year on 3 December.
• This day celebrates the resilience, contributions and leadership of persons with disabilities (PwDs) worldwide.
• The theme for this year is “Amplifying the leadership of persons with disabilities for an inclusive and sustainable future”.
• UN General Assembly proclaimed the International Day of Disabled Persons in 1992.
• It aims to support the rights and well-being of persons with disabilities in all spheres of society.
• Convention on the Rights of Persons with Disabilities (CRPD) was adopted in 2006.
• Department of Disability Affairs was made out of the Ministry of Social Justice and Empowerment on May 12, 2012.
• It was renamed the Department of Empowerment of Persons with Disabilities on December 8, 2014.
• Accessible India Campaign (Sugamya Bharat Abhiyan) was launched on December 3, 2015.
• It aims to achieve universal accessibility for Persons with Disabilities (PwDs) across India.

(Source: PIB)

Topic: Indian Economy

3. Government will revise the base year for GDP calculation from 2011-12 to 2022-23.

• Government has constituted an Advisory Committee on National Accounts Statistics (ACNAS) to facilitate the transition.
• The committee has members from central and state governments, the RBI, academia, and research institutions.
• ACNAS will identify new data sources. It will give recommendations on the methodology for compiling national accounts in the revised series.
• To strengthen the statistical system, the government has undertaken following initiatives.
  • The establishment of ACNAS
  • The standardization of data structures to ensure high-quality reporting across the National Statistical System
  • The increased utilization of administrative data

Topic: Indian Economy

4. In November 2024, Manufacturing Purchasing Mangers’ Index (PMI) declined to 56.5.

• This was its 11 months low level. In October 2024, it stood at 57.5.
• Inflation impacted the manufacturing sector in November. However, job creation was good.
• PMI Manufacturing is based on survey of purchasing managers of 400 companies.
• According to survey report, input cost inflation intensified in the third fiscal quarter.
• About job, the report said that there was an increase in factory employment in India during November for the ninth month in a row.
• Output charges recorded their steepest increase since October 2013.

Topic: Environment and Ecology

5. Forest cover data updated by the government, and forest conservation amendments were implemented.

• An important update in the assessment of the country's forest cover has been announced by the Ministry of Environment, Forest, and Climate Change.
• The Forest Survey of India (FSI) will now use the updated base year of 2022-23 instead of the previous base year of 2011-12 for compiling gross domestic product (GDP) and forest cover data.
• Forest area assessment, conducted every two years, shows that India's total forest area now stands at 7,13,789 square kilometres, which is 21.71% of the country's geographical area.
• The India State of Forest Report (ISFR) 2021 shows that forest and tree cover has increased by 7,449 square kilometres compared to the last assessment done in 2017.
• There has been no reduction in forest area or tree cover, thereby allaying concerns about increased carbon emissions due to deforestation.
• In response to emerging environmental concerns, the government also announced amendments to the Forest (Conservation) Act, 1980.
• These amendments, which will come into effect from December 1, 2023, aim to strengthen the conservation, management and restoration of forests.
• The amended provisions emphasize ecologically sustainable development, ecological security and preservation of traditional values ​​associated with forests.

Topic: Reports and Indices/Ranking

6. PRAGATI monitoring of infra projects praised by Oxford study.

• PM Narendra Modi’s PRAGATI infrastructure monitoring system has been lauded in a recent study by Oxford University’s Saïd Business School (SBS) for its role in accelerating 340 projects worth $205 billion across India, contributing to economic transformation.
• Soumitra Dutta, dean at SBS, authored the study titled "From Gridlock to Growth: How Leadership Enables India’s PRAGATI Ecosystem to Power Progress," with associate fellow Mukul Pandya as the co-author.
• It was presented at a seminar organised by the Indian Institute of Management, Bangalore.
• The study looked at several factors, including close monitoring of infrastructure projects and their completion through the PRAGATI system (an acronym for Pro-Active Governance and Timely Implementation of Projects) since 2015.
• PRAGATI has brought together diverse stakeholders from the Central and State Governments on one platform.
• This collaborative approach has been helpful in addressing some of the most complex challenges in infrastructure development, from land acquisition to inter-ministerial coordination.
• The economic impact of the progress is clear, the report said.
• According to studies by the Reserve Bank of India and the National Institute of Public Finance and Policy, every rupee spent on infrastructure gives India a gain of ₹2.5 to ₹3.5 in GDP.
• By rapidly advancing projects that provide essential services such as roads, railways, water and electricity, Pragati has improved the quality of life of millions of Indians.

Topic: Summits/Conferences/Meetings

7. World Maritime Conference 2024 will be held in Chennai from December 4-6.

• The Guest of Honour will be the Director General of Shipping Shyam Jagannathan.
• During the conference, the future of Global maritime scenario will be discussed.
• US, UK, Germany, Spain, Asia Pacific Countries will take part in the discussions.
• This conference will be organised in India after 15 years.
• During the conference, futuristic developments and present challenges in the Maritime World will be discussed.
• Over 300 delegates from all over the world will attend the conference.

Topic: Sports

8. Arjun Erigaisi becomes second Indian to achieve 2800 ELO rating after five-time World Champion Viswanathan Anand.

• On 1st December 2024, Arjun Erigaisi also became 16th worldwide to reach 2800 ELO rating.
• He is ranked 4th globally. He recently won an individual gold as well as a team title in the Chess Olympiad.
• In the December 2024 FIDE Rating list, his rating is 2801, just below Hikaru Nakamura (2802) of the USA.
• Another Indian chess prodigy, D. Gukesh is one place below Erigaisi at fifth with 2783 ratings.
• Norwegian Magnus Carlsen continued to be at the top spot with 2831 ratings. Carlsen is followed by Fabiano Caruana (2805) of the USA.
• Arjun Erigaisi was born in Warangal, Telangana and earned the Grandmaster's title at the age of 14 years, 11 months, 13 days.
• In September 2024, he became India's top rated player.

Topic: Defence

9. 4th edition of Exercise Harimau Shakti commenced between India and Malaysia.

• The 4th edition of India- Malaysia Joint Military Exercise Harimau Shakti started at Bentong camp in Malaysia.
• The Indian contingent of the Mahar regiment comprising 78 personnel will take part in this exercise.
• 123 personnel from the Royal Malaysian Regiment will represent the Malaysian contingent.
• The main aim of the exercise is to enhance the joint military capability of both sides to conduct counter-insurgency operations in jungle terrain.
• The exercise will be conducted from December 2 to December 15, 2024.
• In this exercise, both sides will share best practices in tactics, techniques and procedures for conducting joint operations.

(Source: News on AIR)

Topic: Indian Economy

10. In the second quarter from April to September, FDI inflows surged by 45 per cent.

• In the April-September quarter, Foreign direct investment in India rose by 45 per cent to $29.79 billion.
• FDI inflows were at $20.5 billion in April-September 2023-24.
• In the July-September quarter, inflows grew by about 43 per cent year-on-year to $13.6 billion against $9.52 billion in the same period of last fiscal.
• Total FDI including equity inflows, reinvested earnings and other capital grew by 28 per cent during the first half of this fiscal.
• It has increased from $33.12 billion in April-September 2023-24 to $42.1 billion.
• FDI in services has increased to USD 5.69 billion during the first half of the current financial year.
• FDI inflows in non-conventional energy stood at USD 2 billion.
• During April-September 2024-25, Maharashtra received the highest inflow of USD 13.55 billion.
• Karnataka (USD 3.54 billion), Telangana (USD 1.54 billion) and Gujarat (about USD 4 billion) are other leading states to get FDI.

Topic: Indian Economy

11. In the July-September quarter, Singapore contributed 50% of total FDI into India.

• In the July-September quarter, Singapore made the highest foreign direct investment in India, with 50% of the investments coming from the neighbouring country.
• Data provided by DPIIT shows that FPI inflows into India grew 43% to USD 13.6 billion in the July-September quarter of 2024-25.
• USD 7.5 billion or over 50% of the total FDI came from Singapore.
• Singapore has been a major source of foreign direct investment (FDI) for India.
• In the year 2023-24, Singapore was the largest source of foreign direct investment (FDI) for India, with an estimated inflow of US$11.77 billion.
• From Singapore, the cumulative inflow of FDI from April 2000 to March 2024 is about US$159.94 billion.    
• In bilateral trade, Singapore was India's sixth largest global trading partner in 2023-24.
• Its total trade was US$35.61 billion, accounting for about 29% of India's total trade with ASEAN.

Topic: MoUs/Agreements

12. An agreement signed between India and ISA for solar projects in four Indo-Pacific countries.

• The Ministry of External Affairs and the International Solar Alliance (ISA) signed a Project Implementation Agreement to execute new solar projects in Fiji, Comoros, Madagascar and Seychelles.
• On September 21, the Wilmington Declaration issued at the Quad leaders' summit in Delaware, USA said that the Quad countries will work together through policy and public finance.
• This enables it to deliver on its commitment to catalyze complementary and high-standard private sector investment in collaborative and partner clean energy supply chains.
• For this purpose, India has committed to invest USD 2 million in new solar projects in Fiji, Comoros, Madagascar and Seychelles.
• On November 26, a Project Implementation Agreement (PIA) was signed between the Ministry of External Affairs and ISA to implement the projects in these Indo-Pacific countries.
• As the project implementing agency, ISA will provide programmatic assistance to Comoros, Fiji, Madagascar and Seychelles with financial assistance from India.
• The successful implementation of these projects is expected to increase energy access, create employment and provide reliable and quality power supply in these Indo-Pacific countries.

Topic: International News

13. Notre Dame Cathedral to reopen on December 7.

• The Notre Dame Cathedral of France is set to reopen on December 7 after five years.
• It will be reopened by integrating modern safety standards alongside the preservation of historical integrity.
• The 2019 fire destroyed the roof and spire of Notre Dame.
• Notre Dame Cathedral is a medieval Gothic masterpiece and has been a cultural icon for centuries.
• Its construction was started in 1163 A.D and continued for more than a century.
• Around 14 to 15 million annual visitors will come to see this cathedral.

Topic: Indian Economy

14. By 2030, the Indian pharmaceutical sector is expected to have grown 58% to $130 billion.

• With $27.85 billion in export revenue, India solidifies its standing as the "Pharmacy of the World."
• The Indian pharmaceutical sector is currently worth $55 billion. By 2047, it is expected to reach $450 billion.
• With $27.85 billion in exports to date, India is firmly establishing itself as the "Pharmacy of the World."
• The pharmaceutical industry in India is predicted to keep growing, reaching a $1 trillion market by 2047.
• India's pharmaceutical sector contributes roughly 2% of the country's GDP and ranks third in the world in terms of pharmaceutical output volume and fourteenth in terms of value.
• India is the third-largest biotechnology destination in Asia-Pacific and one of the top 12 worldwide.
• The factors that contribute to India’s leadership are low manufacturing cost, cost-efficient R&D and an abundant pool of skilled labour.