Current Affairs - International

The 4th International Conference on Financing for Development (FFD4) took place in Seville, Spain. At this global event, India’s Finance Minister stressed the importance of reforming sovereign credit rating systems and multilateral development banks (MDBs). The aim of these reforms is to create a more equitable and inclusive financial system that supports sustainable development for all nations. By highlighting these issues on an international platform, India is advocating for fairer evaluation standards that can help developing countries access funding and investment more easily, thereby reducing reliance on outdated and often biased financial metrics established by Western institutions.

Microsoft, a major global tech company, officially shut down its operations in Pakistan on July 3, 2025, ending a 25-year presence in the country. The closure was part of a broader global strategy to focus more on cloud services and streamline operations, including cutting approximately 9,100 jobs worldwide. Microsoft had only maintained liaison offices in Pakistan, with most functions already transitioned to local partners and handled from regional hubs like Ireland. This decision raised concerns among business and political leaders, who view the exit as a signal of Pakistan’s increasingly difficult environment for foreign tech firms.

India hosted the 23rd Regional Meeting of National Authorities of States Parties in Asia under the Chemical Weapons Convention (CWC), reaffirming its commitment to chemical disarmament and non-proliferation. India is not only an original signatory to the CWC but also implements it through its National Authority Chemical Weapons Convention (NACWC), as per the Chemical Weapons Convention Act of 2000. India’s leadership role is further reflected in the recognition of the Indian Chemical Council (ICC), which became the first industry body in the world to receive the prestigious OPCW-The Hague Award in 2024. This demonstrates India's proactive role in global chemical safety governance.

The 23rd Asia Regional Meeting of National Authorities of States Parties was hosted in New Delhi by the Organisation for the Prohibition of Chemical Weapons (OPCW) in collaboration with India’s National Authority of the Chemical Weapons Convention (NACWC). This gathering brought together representatives from Asian member states to enhance cooperation and compliance with the Chemical Weapons Convention (CWC), which came into effect in 1997. OPCW, awarded the Nobel Peace Prize in 2013, plays a critical role in global chemical weapons disarmament. Hosting the event in New Delhi highlights India's commitment to international peace and non-proliferation efforts.

In July 2025, Pakistan assumed the presidency of the United Nations Security Council (UNSC), a position that rotates monthly among the 15 member states. As president, Pakistan committed to leading with transparency, inclusivity, and a focus on peace and multilateral cooperation. The country, currently serving a two-year term as a non-permanent member of the Council, announced plans to host high-level meetings addressing global peace, the Palestine issue, and collaboration with organisations like the Organisation of Islamic Cooperation (OIC). Pakistan’s leadership in the UNSC during this month underscores its diplomatic engagement and commitment to upholding the principles of the UN Charter.