Current Affairs - International

India has entered into a strategic partnership with the United Arab Emirates (UAE) to enhance cooperation in green steel and high-grade aluminium production. This collaboration is part of the India-UAE Comprehensive Economic Partnership Agreement (CEPA) and focuses on sustainable metallurgy, clean energy integration, and supply chain resilience. Key public sector enterprises such as SAIL, NMDC, and MECON are involved in facilitating trade, engineering, and material sourcing, with operational offices already established in Dubai. The UAE’s clean energy infrastructure and strategic trade location make it an ideal partner for India’s ambition to scale sustainable industrial growth and meet its 2030 steel production targets.

The revised version of the One Big Beautiful Bill Act, released by the U.S. Senate, proposes a reduction in the foreign remittance tax to 1%. Initially, the law aimed to impose a broader tax on all outgoing foreign remittances, but under the new draft, the rate has been scaled down significantly. Moreover, remittances made using U.S.-issued bank accounts, debit cards, or credit cards are now exempt from this tax. This adjustment reflects a more moderate approach toward regulating and taxing international money transfers, likely in response to concerns over the impact on immigrants and foreign workers in the U.S.

The first-ever ‘At Sea Observer Mission’ was launched by the QUAD grouping, which includes India, Japan, the United States, and Australia. This initiative, conducted aboard the US Coast Guard Cutter Stratton, signifies a major step in strengthening maritime security, coordination, and interoperability among the four nations. The mission involved cross-embarkation of officers, including women, to observe and participate in shipboard operations. It supports the goals outlined in the Wilmington Declaration and the 2024 QUAD Leaders’ Summit, promoting a Free, Open, and Rules-Based Indo-Pacific. The mission also aligns with broader regional strategies like India’s SAGAR and the Indo-Pacific Oceans Initiative.

India hosted the inaugural ASEAN–India Cruise Dialogue on July 1, 2025, in Chennai. This pioneering event brought together over 30 delegates from all 10 ASEAN countries and Timor Leste to explore opportunities in cruise tourism and maritime cooperation. Held aboard the MV Empress at Chennai Port, the dialogue is a strategic initiative aligned with India’s Sagarmala and Act East Policy. It reflects India’s commitment to enhancing regional connectivity, promoting sustainable tourism, and reviving historical maritime linkages in the Indo-Pacific. The event also included sessions on infrastructure investment and cruise circuit development, underscoring India’s role as a regional maritime hub.

The Directorate General of Foreign Trade (DGFT) imposed restrictions on jute imports through all land ports and most seaports, permitting entry only via Mumbai's Nhava Sheva port. This protective measure aims to safeguard India's domestic jute industry, which supports approximately 400,000 workers across several states. The decision addresses concerns about subsidized imports affecting local producers. Such trade restrictions typically reflect efforts to balance domestic industry protection with international trade commitments, while responding to specific market conditions and alleged unfair trade practices in the global jute market.