APRIL 16, 2024 | DAILY CURRENT AFFAIRS FOR APSC/UPSC

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India's Engineering Exports

(GS-III: Economic Developments)


    • Why in News?
      • Recently, India's engineering exports reached USD 109 billion in the fiscal year 2023-24, as reported by the Engineering Export Promotion Council (EEPC).
    • Key Points:
      • Despite a slowdown in some major global markets and geopolitical tensions, India's engineering exports remained competitive.
      • EEPC anticipates further growth in market share for India's engineering exports in the upcoming years, fueled by the country's participation in more free trade agreements.
      • The council aims for engineering exports to reach USD 300 billion by 2030, expecting significant job creation and foreign exchange earnings.
      • The engineering sector is India's largest contributor to overall exports, constituting 24% of total exports, and contributes around 40% of the country's total manufacturing exports.
      • According to data released by the Commerce Ministry, engineering exports in FY24 grew by 2.13%, reaching USD 109.31 billion compared to USD 107.04 billion in the previous financial year.The Assam Tribune Editorial Summary (April 16, 2024)

    The Assam Tribune Editorial Summary (April 16, 2024)

    Israel-Iran Relations

    (GS-II: International Relations)
    Disclaimer: Image Used for Illustration Purposes Only
    Credit: MS Designer
    • Why in News?
      • Israel's airstrike on an Iranian diplomatic facility in Damascus on April 1,2024 , resulting in casualties including IRGC officers, prompted Iran to retaliate to save face domestically.
      • Iran's retaliation involved a barrage of missiles, drones, and cruise missiles targeting Israel, claiming success in sending a message while hoping to avoid further conflict.
    • Key Points:
      • Netanyahu's government is criticized for its aggressive actions, including attacks in Gaza and Syria, leading to Israel's isolation and the risk of broader conflict.
      • With support from the US, UK, and France, Israel successfully intercepted a large portion of Iranian missiles, showcasing its defense capabilities.
    • Way Forward:
      • Despite the intensity of Iran's assault, neither party emerged as a clear loser, and both are urged to act maturely to prevent escalation.
      • The situation's outcome depends on Israel's response to Iran's calibrated attack, despite pressure from allies like the US, UK, and France to avoid further conflict.
      • President Biden has conveyed to Netanyahu that the US won't back any military strike against Iran, but uncertainty remains given Israel's past actions and hawkish rhetoric.
      • The international community hopes for a balanced response from Iran following its retaliatory strike against Israel to avoid escalation.

    Northeastern States Agri-horticultural Sector

    (GS-III: Economic Development, Agriculture)
    Disclaimer: Image Used for Illustration Purposes Only
    Credit: MS Designer
    • Why in News?
      • Recently, the demands and exports of agri-horticulral produce is increasing which is a good sign for regions farmers and economy. 
    • Key Points:
      • The Northeast region's favorable geo-climatic conditions support various horticultural crops, including endemic ones with global demand. Traditional organic cultivation by indigenous communities is common.
      • Manipur's aromatic black rice 'Chak-hao' is in high demand domestically and internationally, with exports to Europe increasing. 
      • Assam has seen an increase in spice exports, signaling the need for commercial cultivation. 
      • This boosts farmers' income and promotes entrepreneurship.
    • Way Forward:
      • Producers must ensure strict quality compliance, especially for high-end markets, to maintain the reputation of Northeastern horticultural products.
      • Lack of government intervention has hindered the horticulture sector's growth in the region. Proper exploration and support can make horticulture a game-changer, boosting economic development.
      • Assam's diverse soil and climatic conditions support the cultivation of various fruits, vegetables, flowers, spices, and plantation crops. Government support, technological interventions, and market linkages are crucial for realizing this potential.
      • The Spice Board of India should collaborate with state governments to develop infrastructure, promote entrepreneurship, and facilitate exports in the spices sector for economic development.
      • Assam's aromatic 'Joha' rice has export potential, but insufficient government focus has hindered its growth.
      • District-level export hubs promoting Geographical Indication (GI)-registered products could enhance export prospects.
      • Endemic spices like Lakadong turmeric from Meghalaya and large cardamom from Arunachal Pradesh have export potential. The Northeast, with its abundance of black pepper, chili peppers, and ginger, can become the spices capital of India.
    Credit: The Assam Tribune, April 16, 2024

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