Current Affairs - International

India was ranked No. 1 for business climate among 41 markets in the Swedish Chamber of Commerce in India’s Global Business Climate Survey 2026. The survey examines how Swedish companies perceive business conditions in key markets outside Sweden. India also recorded among the highest growth expectations and remained one of the leading investment destinations in the Asia-Pacific region. Along with Vietnam, India was identified among the most optimistic markets in APAC. The survey highlighted strong business sentiment toward India despite global economic uncertainties and regional challenges affecting investment and business perceptions.

Goa hosted the Third BIMSTEC Conference on Traditional Medicine Knowledge, Genetic Resources, and Intellectual Property Rights, which commenced on September 16, 2026. The two-day conference was organised by the Ministry of AYUSH, Government of India, with the All India Institute of Ayurveda (AIIA), Goa, serving as the nodal institute. Representatives from all seven BIMSTEC member states participated in the event. Discussions focused on traditional medicine knowledge, documentation through the Traditional Knowledge Digital Library, the use of Artificial Intelligence, Intellectual Property Rights, genetic resources, and equitable benefit-sharing. The conference also discussed the proposed BIMSTEC Centre of Excellence in Traditional Medicine.

Vietnam will observe Friendship Year 2027 with India to commemorate the 55th anniversary of diplomatic relations between the two countries. The decision was discussed during the 19th Joint Commission Meeting, co-chaired by External Affairs Minister S. Jaishankar. India and Vietnam agreed to strengthen their strategic partnership through greater cooperation in defence, including the co-production of Indian defence equipment. Discussions also covered trade and economic cooperation in areas such as pharmaceuticals and agriculture. The two countries also explored collaboration in space and nuclear energy, reflecting the broadening scope of their bilateral relationship across strategic, economic, technological and energy sectors.

China will host the 19th BRICS Summit in 2027 after taking over the rotating BRICS presidency from India. The announcement came at the conclusion of the 18th BRICS Summit held in New Delhi. Prime Minister Narendra Modi congratulated China on assuming the responsibility and emphasised that BRICS should focus on achieving concrete and tangible outcomes as it enters its third decade. The summit discussions also highlighted cooperation among Global South nations, sustainability, innovation and inclusive global growth. Chinese President Xi Jinping called for stronger participation of BRICS in representing the interests of the Global South in international affairs.

France hosted the first International Space Summit in Paris, where several Indian and French space companies signed strategic agreements to strengthen international cooperation in the space sector. The summit featured 51 announcements representing approximately €20 billion in activities aimed at advancing global space initiatives. Agreements included a deal between French provider RIDE! and India’s TakeMeToSpace for launching two satellites, as well as a contract between Safran Space and Dhruva Space for equipment for India’s future SBS-III space-surveillance constellation. The summit also promoted cooperation on Moon exploration and the use of low Earth orbits, highlighting growing India-France collaboration in space technology and exploration.