Highlights
- International: the 19th NAM Summit concluded in Kampala, Uganda, with India represented by the External Affairs Minister.
- Space: PM Modi released six commemorative postage stamps marking the Ram Mandir and its deities, ahead of the Pran Pratishtha ceremony the next day.
- Defence: the indigenous Astra beyond-visual-range air-to-air missile was flagged off for Indian Air Force supply.
- Finance: the NSE retained its position as the world's largest derivatives exchange for the fifth consecutive year.
1. Astra missile: BVR air-to-air capability
GS area: Defence, Science and Technology
The Beyond-Visual-Range Astra missile was flagged off for supply to the Indian Air Force at a ceremony at BDL's Kanchanbagh facility in Hyderabad.
- Astra: India's first indigenously developed BVR air-to-air missile. Developed by DRDO; manufactured by Bharat Dynamics Limited.
- Range: 80-110 km. Maximum speed: Mach 4.5. Operational ceiling: up to 20 km altitude.
- "Fire and forget": the missile uses an active radar seeker to guide itself to the target after launch, allowing the pilot to manoeuvre. The seeker is made in India.
- Platform integration: currently integrated on the Sukhoi Su-30MKI. Integration with the LCA Tejas is planned.
- Significance: reduces dependence on imported BVR missiles such as the Russian R-77.
Static linkage: defence self-reliance, Atmanirbhar Bharat, DRDO.
2. NSE retains world's largest derivatives exchange status
GS area: Economy, Capital markets
The National Stock Exchange retained its position as the world's largest derivatives exchange by number of contracts traded for the fifth consecutive year in 2023.
- NSE achievements in 2023: market capitalisation crossed $4 trillion for the first time; Nifty 50 crossed 20,000; SME listings crossed Rs 1 lakh crore; over 8.5 crore unique registered investors.
- India's equity market: ranked as the fourth-largest equity market globally at $4.33 trillion, surpassing Hong Kong at $4.29 trillion. Behind the US, China, and Japan.
- Derivatives market: NSE is also ranked 3rd globally in the equity segment by trade count. Derivatives volumes are driven by retail participation in index options.
Static linkage: capital markets, Indian economy, financial regulation.
3. Ram Mandir: commemorative stamps and pre-consecration preparations
GS area: Art and Culture, History
PM Modi released six commemorative postage stamps on 21 January 2024, showcasing the Ram Mandir temple, the idol of Ram Lalla, and sacred sites in Ayodhya. A 48-page stamp book featured Ram-themed stamps from more than 20 nations.
- Context: the release came one day before the Pran Pratishtha ceremony scheduled for 22 January.
- Legal background: the Ram Mandir is built on the site where the Babri Masjid stood before its demolition in December 1992. The Supreme Court in 2019 (Ramjanmabhumi case) awarded the disputed land to the Hindu side for temple construction and directed allocation of an alternate 5-acre plot for a mosque in Ayodhya.
- Trust: the Shri Ram Janmabhoomi Teerth Kshetra Trust oversees temple construction and management. General Secretary: Champat Rai.
- Architecture: Nagara style (Maru-Gurjara variant), designed by the Sompura family. No iron or steel was used. The temple is 110 metres long, 72 metres wide, and 49 metres tall at maximum height.
Static linkage: constitutional law, judicial history, temple architecture.
4. 19th NAM Summit: India's participation
GS area: International Relations, Polity
The 19th Non-Aligned Movement Summit was held in Kampala, Uganda. India was represented by External Affairs Minister S. Jaishankar. The theme was "Deepening Cooperation for Shared Global Affluence."
- NAM: founded in 1961 at the Belgrade Summit. India is a founding member alongside Yugoslavia (Tito), Egypt (Nasser), Indonesia (Sukarno), Ghana (Nkrumah), and others.
- Members: 120 nations as of 2024. The movement emerged during the Cold War as a bloc of countries avoiding alignment with either the US or Soviet blocs.
- Uganda's profile: a landlocked country in East Africa. Features the Rwenzori Mountains, parts of Lake Victoria, and the source of the White Nile at Lake Victoria.
Static linkage: international organisations, India's foreign policy, NAM.
5. Briefly noted
- Cabo Verde certified malaria-free: WHO certified Cabo Verde as malaria-free, making it the third African nation to achieve this status after Mauritius (1973) and Algeria (2019). Forty-three countries and one territory hold WHO malaria-free certification.
- Kisan e-Mitra: an AI chatbot launched under PM Kisan Samman Nidhi to assist farmers in five languages with queries about the scheme, linking AI agricultural tools to direct benefit transfer.
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