Current Affairs - International

India's membership in the MSFN is a strategic move to enhance the stability and security of mineral resources crucial for global economic and technological development. The MSFN is a continuation of the Minerals Security Partnership (MSP), initiated by the US in 2022, which India joined in June 2023. This alliance aims to reduce dependence on countries like China for critical minerals and promote cooperation among member nations to secure supply chains. By joining the MSFN, India strengthens its position in the global energy transition and clean energy initiatives.

India has signed a Bilateral Investment Treaty (BIT) with Uzbekistan to protect investors from both countries, boost confidence, and promote economic cooperation. This treaty assures a minimum standard of treatment, non-discrimination, and an independent forum for dispute settlement through arbitration. The agreement was signed by Finance Minister Nirmala Sitharaman and Uzbekistan's Deputy Prime Minister Khodjayev Jamshid Abdukhakimovich in Tashkent. The treaty aims to enhance economic ties, increase bilateral investments, and create a more robust investment environment.

India has secured the 39th position among 133 global economies in the Global Innovation Index (GII) 2024, marking a significant improvement from its 81st position in 2015. This achievement is attributed to India's thriving innovation ecosystem, fueled by entrepreneurs, startups, and public-private partnerships. Additionally, India ranked 1st in Central and Southern Asia, 1st among lower-middle-income economies, 4th in WIPO's Science and Technology Cluster Rankings, and 7th globally in intangible asset intensity. Major Indian cities, such as Mumbai, Delhi, Bengaluru, and Chennai, are also listed among the world's top 100 Science and Technology clusters.

The seventh edition of the Global Aerospace Summit took place in Abu Dhabi from September 25-26, focusing on sustainability, youth engagement, and innovation in the aerospace, space, and defence sectors. This premier event brought together industry leaders, government officials, and startups to showcase innovations and discuss the future of the aerospace sector. Abu Dhabi's strategic location highlights its growing influence as a global aerospace hub, with the space economy projected to reach $1.8 trillion by 2035.

India is preparing to host the World Telecommunication Standardization Assembly (WTSA) in 2024, with the Department of Telecommunications (DoT) initiating outreach sessions in major cities like Delhi, Hyderabad, and Bengaluru. These sessions aim to provide a platform for students to learn from industry experts and understand the significance of telecommunications standards in advancing technologies such as 5G and the future 6G. The initiative highlights India's role in the global telecom landscape, emphasizing the importance of standardization in ensuring interoperability and shaping the future of communication technologies.