Current Affairs - International

Australia has announced the Maitri Research and Cultural Partnerships Grants to foster collaboration with India. These grants support projects in sustainable manufacturing, energy transition research, and artistic endeavours, with the goal of strengthening bilateral ties and promoting closer cooperation between the two nations. The initiative underscores the importance of human connections and people-to-people links, as highlighted by Minister Penny Wong and Tim Thomas, CEO of the Centre for Australia-India Relations.

India exported its first GI-tagged fig juice to Poland, marking a significant achievement for Indian agriculture. This follows the earlier success of exporting GI-tagged Purandar figs to Hong Kong, highlighting the potential for Indian agricultural products in global markets. The exports were facilitated by Purandar Highlands Farmers Producer Company Ltd, with support from the Indian government. This milestone not only showcases the quality of Indian figs but also opens new opportunities for expanding the global reach of Indian agricultural products.

India will host the 1st BIMSTEC Business Summit on August 6, 2024, in New Delhi. The event is organized by the Ministry of External Affairs of the Government of India in association with the Confederation of Indian Industries (CII). The summit aims to enhance regional collaboration through improved trade and investment among BIMSTEC member countries. High-ranking officials, policymakers, and industry leaders from various member states will participate, highlighting the significance of the event in fostering economic cooperation within the region.

Chile is renowned for having the largest lithium reserves globally, holding 36% of the world's total. It also stands as the second-largest global producer, contributing 32% to the global market. This makes Chile a significant player in the lithium industry, which is vital for various applications such as rechargeable batteries, ceramics, and pharmaceuticals. The country's extensive lithium resources are a major focus for companies looking to explore and extract this valuable resource, as exemplified by Coal India Limited's plans to explore lithium in Chile's salt flats.

The 5th AITIGA Joint Committee meeting, aimed at advancing the review of the ASEAN-India Trade in Goods Agreement (AITIGA), took place in Jakarta from July 29 to August 1, 2024. The meeting was co-chaired by representatives from India and Malaysia and involved delegates from all 10 ASEAN countries. This event marked an important step in strengthening ASEAN-India economic cooperation, building on previous rounds of negotiations held in New Delhi and Putrajaya. The focus of the discussions was on various aspects of trade including market access, rules of origin, standards and technical regulations, and trade facilitation, ensuring comprehensive coverage of the issues pertinent to the trade agreement.