Current Affairs - International

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.

India and Vietnam are collaborating to develop the National Maritime Heritage Complex (NMHC) in Lothal, Gujarat. This partnership, marked by the signing of a Memorandum of Understanding (MoU) at Hyderabad House in New Delhi, aims to celebrate and preserve the shared maritime heritage of both nations. The NMHC will showcase historical and cultural ties through artefact exchanges and shared expertise in design and technology. Located in Saragwala village, the complex's first phase is already more than 55% complete and is expected to open next year.

On July 31, 2024, at the World Health Organization Headquarters in Geneva, the Ministry of Ayush, the Government of India, and the WHO signed a landmark Donor Agreement. This agreement specifies the financial terms for implementing the activities of the WHO Global Traditional Medicine Centre in Jamnagar, Gujarat, India. The Indian government committed US$ 85 million over ten years to support the centre, recognizing it as a key hub for traditional medicine practices.