Current Affairs - International

Germany has recently joined the U.S.-led United Nations Command (UNC) in South Korea, becoming the 18th member of this coalition. The UNC plays a crucial role in policing the border with North Korea and defending South Korea in the event of war. Germany's inclusion underscores its commitment to global security and enhances the capabilities and expertise of the UNC. This development reflects the ongoing expansion of international alliances aimed at strengthening regional security amid rising global tensions.

India has successfully obtained the operational rights for a terminal at Mongla Port in Bangladesh, which is the country's second-largest seaport. This strategic acquisition is significant as it represents a counter to China’s growing influence in the Indian Ocean region. Indian Port Global Limited (IPGL) will manage the terminal, which will enhance India's regional presence and security. This development underscores India’s efforts to bolster its strategic interests and maritime influence in South Asia.

Australia is playing a significant role in aiding India’s transition to clean energy by supplying critical minerals such as lithium, cobalt, and rare earth minerals. The collaboration includes the Australia-India Critical Minerals Research Hub, a joint initiative between IIT-Hyderabad and Monash University. This hub focuses on sustainable practices in the extraction and processing of these minerals and analyzing supply chains. Australia's substantial deposits of these essential minerals are crucial for supporting India's clean energy goals and technological advancements.

The G20 endorsed Brazil's proposal to levy a 2% wealth tax on fortunes exceeding $1 billion, which inspired their agreement on taxing the ultra-rich. This initiative seeks to address wealth inequality and is projected to generate up to $250 billion annually from approximately 3,000 individuals. The G20's declaration supports cooperation on tax sovereignty, best practices, and anti-avoidance measures, reflecting a global commitment to more equitable taxation policies.

According to the Travel and Tourism Development Index (TTDI) for 2024 released by the World Economic Forum, India secured the 39th position. This ranking reflects India's performance in enhancing the competitiveness and sustainability of its tourism sector. Despite a methodological adjustment by the WEF, which revised India's 2021 rank to 38th, the 2024 ranking indicates a slight decrease, demonstrating India’s consistent efforts in maintaining a robust tourism ecosystem.