Current Affairs - International

Oman has introduced its first polymer banknote, marking a significant step in modernising its currency system. The one-rial denomination is scheduled to enter circulation on January 11, 2026. Designed to combine tradition with modern development, the note measures 145 mm by 76 mm. Its front side showcases the Oman Botanic Garden, symbolising environmental heritage, while the reverse features the Sayyid Tariq bin Taimur Cultural Complex along with the Duqm Port and Refinery, highlighting cultural identity and economic progress. The launch reflects Oman’s move towards durable, secure, and technologically advanced currency notes.

India concluded a Free Trade Agreement with New Zealand to strengthen economic cooperation, improve market access, and encourage long-term investment. The agreement is projected to attract around $20 billion in investment over 15 years and aims to double bilateral trade within five years. While New Zealand receives tariff concessions on a large share of its exports, India protected sensitive domestic sectors such as dairy, sugar, onions, spices, and edible oils. This pact reflects India’s strategic approach to trade expansion while safeguarding key national interests.

India has signed a Memorandum of Understanding with the Netherlands to enhance cooperation in maritime heritage for the National Maritime Heritage Complex at Lothal in Gujarat. The collaboration focuses on museum design, conservation of maritime artefacts, research initiatives, cultural exchange, and tourism development. As part of the agreement, the NMHC will work closely with the National Maritime Museum in Amsterdam, benefiting from the Netherlands’ extensive maritime expertise. This partnership supports India’s efforts to showcase its 4,500-year-old maritime legacy globally while strengthening bilateral cultural and strategic relations.

The leadership of BRICS rotates annually among its member countries, and a formal handover ceremony marks this transition. During the 4th BRICS Sherpas Meeting in December 2025, Brazil symbolically transferred the presidency to India using a ceremonial gavel crafted from repurposed Amazon wood. With this transition, India is set to lead BRICS in 2026, focusing on priorities such as resilience, innovation, cooperation, and sustainability. India’s leadership aims to strengthen Global South collaboration, advance climate action, promote responsible use of artificial intelligence, and push for reforms in global governance institutions.

A team from India achieved global recognition at the NASA International Space Apps Challenge 2025 by winning a top honour for an innovative satellite-based internet concept. The project focused on creating a sovereign broadband infrastructure using space-based technology to address connectivity gaps in remote and underserved regions. By targeting millions of people without reliable internet access, the concept demonstrated strong social impact, scalability, and technological innovation. This achievement highlights India’s growing capabilities in space technology, digital innovation, and problem-solving, as well as the strength of its innovation ecosystem on the global stage.