Current Affairs - International

Indonesia has decided to join the New Development Bank (NDB), a multilateral financial institution created by the BRICS nations. This strategic move, announced by President Prabowo Subianto, aims to boost Indonesia’s economic transformation by enhancing financial collaborations and investments in sectors like infrastructure, renewable energy, and technological advancements. Joining NDB will provide Indonesia with access to crucial funding that aligns with its economic goals, supporting its long-term vision of a sustainable and technologically advanced economy.

India and Singapore have entered into a partnership focused on maritime digitalisation and decarbonisation. The countries plan to create a Green and Digital Shipping Corridor to reduce greenhouse gas emissions by adopting green marine fuels and digital solutions. This initiative underscores their commitment to enhancing environmental sustainability in the maritime industry.

India is hosting the 3rd Central Asian Youth Delegation from March 22–28 under the International Youth Exchange Program. This initiative aims to enhance cultural and diplomatic ties between India and the Central Asian nations. Delegates from five Central Asian countries visit heritage sites and engage with youth leaders and institutions such as IIT Delhi and GCCI. The program is in line with Prime Minister Modi's vision from the 2022 summit, which emphasized stronger regional youth cooperation.

Researchers from China and Japan have reported experimental evidence that Niobium diselenide (NbSe₂) exhibits the properties of a Bose metal. This discovery is significant in quantum physics as Bose metals exhibit unique conductive properties, existing between an insulator and a superconductor. These findings open potential applications in quantum computing, advanced electronics, and superconductivity research. The collaboration between China and Japan in this research highlights the global efforts in exploring unconventional quantum states and advancing technology in these fields.

The United States is seeking agricultural market access from India as part of trade negotiations, particularly in opening India’s farm sector to American produce. One of the main points of contention is the difference in government support for farmers in both countries. While the US provides substantial financial support to its farmers through various federal programs, India's support is more focused on subsidies for inputs like fertilizers and irrigation, as well as Minimum Support Price (MSP) procurement. These differing support systems have created challenges in balancing market access for both nations.