BFI Chief Ajay Singh Joins Asian Body Board

World Boxing has welcomed Asia as its newest member, marking a pivotal step in ensuring the sport’s continued presence in the Olympic Games, including LA 2028 and beyond. The Boxing Federation of India (BFI) has emerged as a significant contributor to the new structure, securing seven influential positions. BFI president Ajay Singh will serve as a board member, while other Indian officials will hold key roles across various commissions. Olympic medallist Lovlina Borgohain has also been appointed to the Athletes’ Commission, ensuring athletes’ voices are heard in shaping the sport’s future.

Key Points

Formation of Asian Boxing Body

  • Asia joins as a member of World Boxing to strengthen the sport’s position in the Olympics.
  • Interim body created to drive policy and strategic initiatives for Asian boxing.

India’s Representation

  • BFI President Ajay Singh: Appointed as a board member.
  • BFI Secretary General Hemanta Kumar Kalita: Member of the Olympic Commission.
  • BFI Treasurer Digvijay Singh: Member of the Finance and Audit Committee.
  • BFI Vice President Narender Kumar Nirwan: Member of the Constitution Commission.
  • BFI Disciplinary Chairman D.P. Bhatt: Member of the Sports and Competition Commission.
  • Karanjeet Singh: Member of the Medical Commission.

Lovlina Borgohain’s Role

  • Member of the Athletes’ Commission to represent athlete voices in Asia and globally.
  • Focus on improving training infrastructure, fair opportunities, and robust support systems for boxers.

India’s Strategic Positioning

  • Strong representation ensures India influences policy-making and development in Asian boxing.
  • Active role in fostering talent and promoting the sport across Asia.

Recent Achievements

  • India to host the World Boxing Cup Final and World Boxing Congress in 2025.
  • Highlights India’s leadership in advancing the sport globally.
Summary/Static Details
Why in the news? BFI Chief Ajay Singh Joins Asian Body Board
Asian Boxing Body Asia joins World Boxing to enhance boxing’s Olympic future.
India’s Presentation 7 key positions for Indian officials in the interim body, including Ajay Singh as a board member.
Lovlina Borgohain’s Role Member of Athletes’ Commission; advocates for athletes’ rights and better infrastructure.
Strategic Focus India’s involvement in policy-making and driving development of boxing in Asia.
Recent Achievements Hosting World Boxing Cup Final and World Boxing Congress in 2025.

India Launches UG Minor in Quantum Technologies

India’s first Undergraduate (UG) Minor Programme in Quantum Technologies, jointly launched by the All India Council for Technical Education (AICTE) and the National Quantum Mission (NQM), is set to commence from the next academic session. Designed for engineering students in their third or fourth semester, this initiative aims to create a skilled workforce in quantum computing and related fields, aligning with India’s National Quantum Mission goals.

Programme Overview

The UG Minor Programme offers engineering and technology students an opportunity to specialize in quantum technologies by covering core subjects such as quantum mechanics, quantum computing, quantum cryptography, and quantum algorithms. This initiative positions India as a significant player in the global quantum landscape by fostering talent in areas like cybersecurity, artificial intelligence, and high-performance computing.

Curriculum Structure and Flexibility

Students can choose 18 credits from over 30 courses, ensuring flexibility and customization according to institutional resources. Key focus areas include Quantum Computation, Quantum Communication, Quantum Sensing, and Quantum Materials. AICTE collaborates with top-tier institutes like IITs, IIITs, and NITs to design a curriculum that matches global standards and industry demands.

Hands-on Learning and Faculty Training

The programme emphasizes experiential learning through project-based activities, offering practical exposure to quantum simulators and software. Advanced quantum laboratories will be established to enhance research and application skills. AICTE’s Faculty Development Programmes (FDPs) will equip educators with expertise in quantum technologies, ensuring quality education.

Infrastructure and National Vision

Aligned with NQM’s objectives, the programme addresses challenges like infrastructure development and teacher training. By establishing robust academic-industry linkages, it seeks to boost employability, innovation, and research capabilities. This initiative is a critical step in advancing India’s quantum science ambitions and strengthening its global competitiveness.

Summary of the news

Key Points Details
Why in News AICTE and NQM launched India’s first Undergraduate Minor Programme in Quantum Technologies, starting from the third semester for engineering students.
Focus Areas Quantum Computation, Quantum Communication, Quantum Sensing, and Quantum Materials.
Collaborating Institutions IITs, IIITs, and NITs partnered to design and implement the course curriculum.
Credits and Courses Students can select 18 credits from over 30 courses.
Hands-on Learning Includes practical exposure to quantum simulators and project-based learning.
Infrastructure Development Advanced quantum laboratories to be established for practical and research purposes.
Faculty Training Faculty Development Programmes (FDPs) to train educators in quantum technology.
National Quantum Mission A government initiative focusing on advancing quantum technologies in areas like cybersecurity, AI, and high-performance computing.

Top-10 Most Searched Games on Google in 2024, Check the List

In 2024, gaming reached new heights, with millions of people exploring their favorite titles online. Some games stood out and became the most searched on Google, captivating players with exciting updates, competitive challenges and endless creativity. Let’s delve into the most searched games on Google in the year 2024.

Top-10 Most Searched Games on Google in 2024

The top-10 most searched games on Google in 2024 showcase a mix of exciting gameplay, innovative features and captivating stories. These games have kept players engaged, drawing attention with their unique concepts and active communities.

Here is the list of top-10 most searched games on Google in 2024:

Rank Games Highlights
1. Connections Combines puzzles with social fun, offering challenges and fostering an active online community.
2. Palworld Features monster-catching and survival in a vast open world; sold 8+ copies in six days.
3. Infinite Craft A sandbox game with endless creativity, and a vibrant community.
4. Sprunki Loved for cute graphics, fun platforming and regular updates for casual gamers.
5. Helldivers 2 Popular for cooperative missions, tough enemies and teamwork challenges.
6. Wuthering Waves An action RPG with stunning graphics, rich storylines and immense exploration.
7. Black Myth: Wukong Excites players with Chinese mythology, dynamic combat and stunning visuals.
8. Strands A unique multiplayer game focused on teamwork and engaging mechanics.
9. Brawl Stars Known for fast-paced action, colorful graphics and community-driven competitive modes.
10. PokeRogue A Pokemon-inspired roguelike that offers fresh challenges and attracts new and old fans.

Connections

Connections is a word puzzle game developed by The New York Times and released on June 12, 2023, is its beta phase. It quickly became popular and is now the second-most played game by The New York Times, after Wordle. In 2024, it was one of the most searched games on Google due to its fun and challenging gameplay.

Palworld

Palworld is an action-adventure and survival game by Pocketpair, featuring monster-taming and open-world gameplay. Players capture creatures called “Pals” for battles, building and tasks. Released in early 2024, it became a huge hit, selling over 15 million units and attracting millions of players worldwide. Known for its unique, humorous premise, it was one of the most searched games on Google in 2024.

Infinite Craft

Infinite Craft, a 2024 sandbox game by Neal Agarwal, lets players combine AI-generated elements to create new ones. Released in early 2024 for browsers, followed by iOS and Android, the game quickly gained popularity. Critics praised its unpredictable and creative gameplay, making it one of the most searched games on Google in 2024.

Sprunki

Sprunki became a favorite in 2024 due to its adorable graphics and fun platforming challenges. Players enjoyed its easygoing gameplay and exciting levels. Regular updates from the developers kept the game fresh and engaging, making it one of the most searched games on Google, especially popular with casual gamers looking for lighthearted fun.

Helldivers 2

Helldivers 2, a cooperative third-person shooter, was released in February 2024 for PlayStation 5 and Windows. Set in the 22nd century, players join an elite force to protect humanity. The game received positive reviews and became PlayStation’s fastest-selling game, selling over 12million copies in three months, making it one of the most searched game in 2024.

Wuthering Waves

Wuthering Waves, released in May 2024, is a free-to-play open-world action RPG set in a post-apocalyptic world. Players follow an amnesiac character, Rover, exploring the dangerous world of Solaris-3. The game focuses on combat and world-building, drawing inspiration from games like Death Stranding and Genshin Impact. It became one of the most searched games in 2024 due to its exciting gameplay.

Black Myth: Wukong

Black Myth: Wukong, released in August 2024, is an action RPG inspired by the Chinese novel Journey to the West. Players control a monkey character based on Sun Wukong. The game received positive and sold 20 million copies in its first month, making it one of the fastest-selling games. It became one of the most searched games in 2024.

Strands

Strands gained popularity in 2024 for its unique multiplayer experience centered around teamwork. Players enjoyed collaborating to overcome challenges, making the game both fun and engaging. Its creative concept and enjoyable gameplay mechanics attracted many players, making it one of the most searched game of the year.

Brawl Stars

Brawl Stars, released in December 2018 by Supercell, is a popular multiplayer game where players battle in various modes. Players can choose from a wide range of characters called “Brawlers,” each with unique abilities. The game’s fast-paced action and fun gameplay made it one of the most searched games on Google in 2024.

PokeRogue

PokeRogue became popular in 2024 by adding roguelike elements to the classic Pokemon games. Players enjoyed the new challengers, making each game different from the last. This fresh twist on the familiar Pokemon gameplay attracted both long-time fans and newcomers, making it one of the most searched games of the year.

Russia Declares Federal Emergency Over Black Sea Oil Spill

In a significant environmental crisis, Russian authorities have declared a federal-level emergency in response to a catastrophic oil spill along the Black Sea coast. The spill, which occurred on December 15, has led to widespread pollution across the region, severely affecting local communities, marine ecosystems, and the coastal economy.

Timeline of the Disaster

The Spill Incident

On December 15, two Russian-flagged oil tankers were severely damaged during a storm near the Kerch Strait, leading to the release of thousands of tons of heavy fuel oil, known as mazut, into the Black Sea. The spill has polluted approximately 55 kilometers (34 miles) of coastline.

Escalation of the Crisis

The situation worsened as initial cleanup efforts by local authorities proved inadequate. The southern Krasnodar region declared a regional state of emergency, citing insufficient personnel and equipment to manage the environmental disaster. Thousands of volunteers joined the cleanup, but the scale of pollution demanded federal intervention.

Federal-Level Emergency Declared

On December 21, Russia’s Emergency Situations Minister, Alexander Kurenkov, convened an emergency commission to declare a federal-level emergency. This formalized the allocation of federal resources and funds to manage the aftermath and intensify cleanup operations.

Environmental Impact

Extent of Pollution

According to Viktor Danilov-Danilyan, head of the Water Problems Institute of the Russian Academy of Sciences, at least 200,000 tons of soil along the Black Sea coast have been contaminated with fuel oil. The spill has resulted in severe damage to marine and coastal ecosystems.

Affected Communities

Coastal communities are bearing the brunt of the disaster. High levels of oil pollution in the water and on the beaches have raised concerns that these areas will be unable to attract tourists during the upcoming spring and summer seasons. Tourism is a critical source of income for these regions, and this setback could have long-term economic consequences.

Government Response

Emergency Measures

The declaration of a federal emergency allows the Russian government to:

  • Mobilize additional resources from the federal budget.
  • Deploy specialized equipment and personnel to accelerate cleanup efforts.
  • Coordinate operations between local, regional, and federal agencies.

Criticism of Initial Efforts

Local residents have voiced their dissatisfaction with the initial response, describing it as disorganized and under-resourced. The lack of sufficient equipment and personnel during the critical early stages of the spill exacerbated the environmental impact.

Expert Warnings

Environmental Expert Commentary

Viktor Danilov-Danilyan, a former Russian Environment Minister, has warned that the spill’s long-term effects could be devastating. He highlighted the potential for:

  • Irreversible damage to marine life and ecosystems.
  • Long-term contamination of the soil and water, making the region uninhabitable for both humans and wildlife.

Economic Repercussions

Danilov-Danilyan also emphasized that the tourism sector, a key economic driver for the Black Sea coast, is likely to suffer severe losses. Beaches and coastal waters may remain unsafe for visitors for months, if not years.

Key Challenges Ahead

Cleanup Operations

  • Removing heavy fuel oil like mazut is a complex process requiring advanced technology and expertise.
  • Volunteers and emergency workers face significant health risks due to prolonged exposure to toxic substances.

Restoration of Ecosystems

  • Long-term plans will be needed to rehabilitate marine and coastal ecosystems.
  • Monitoring and research will be essential to track recovery and prevent future spills.

Summary of the News

Aspect Details
Why in News? A federal-level emergency has been declared in Russia following a catastrophic oil spill along the Black Sea coast, affecting marine ecosystems, local communities, and tourism.
Date of Incident December 15, 2024
Cause of Spill Two Russian-flagged oil tankers were damaged during a storm near the Kerch Strait, releasing thousands of tons of heavy fuel oil (mazut).
Extent of Pollution – 55 km (34 miles) of coastline polluted. – 200,000 tons of soil contaminated.
Affected Areas Communities along the Black Sea coast, with significant environmental and economic impacts.
Escalation Initial cleanup efforts by local authorities were inadequate, leading to the declaration of a federal-level emergency on December 21, 2024.
Government Response – Federal funds and resources allocated. – Emergency commission convened by Russia’s Emergency Minister Alexander Kurenkov.
Environmental Impact – Severe damage to marine ecosystems. – Long-term contamination of soil and water. – Threats to local wildlife and biodiversity.
Economic Consequences – Potential loss of tourism revenue for spring and summer seasons. – Long-term economic repercussions for coastal communities.
Key Criticism Residents criticized disorganized and under-resourced initial response efforts.
Expert Warnings – Irreversible ecosystem damage. – Prolonged contamination affecting habitability and tourism.
Challenges Ahead – Complex cleanup requiring advanced technology. – Health risks for workers. – Long-term ecosystem restoration plans needed.

 

Ocean Anoxic Event 1a (OAE 1a)

The Ocean Anoxic Event 1a (OAE 1a), which occurred around 120 million years ago during the early Aptian, was a significant climatic and environmental event caused by massive volcanic eruptions that released large quantities of CO₂, triggering global warming and oceanic anoxia. The event severely disrupted marine ecosystems, leading to the extinction of several species, particularly plankton, and the formation of organic-rich black shale deposits. The study of this ancient event provides valuable insights into current climate concerns, with modern parallels in human-induced global warming and the potential risks for marine life.

Causes and Effects of OAE 1a

OAE 1a was initiated by volcanic eruptions, particularly from the Ontong Java Nui complex, which released significant amounts of CO₂ into the atmosphere, leading to a greenhouse effect. This caused oceanic oxygen depletion, as carbon dioxide dissolved in seawater to form carbonic acid, which lowered oxygen levels, inhibiting most aerobic life forms. The result was the creation of anoxic marine basins, such as the Black Sea and the Cariaco Basin, where oxygen levels were nearly absent, leading to the preservation of organic-rich layers, known as black shales.

The Study’s Key Findings in East Asia

Recent research focusing on the lacustrine records from the Jiaolai Basin and Lingshan Island in East China has extended our understanding of OAE 1a to continental ecosystems. The study observed drastic changes in palaeosalinity and anoxic conditions in lake systems, providing a terrestrial record of the event. The isotopic analysis and geochemical data show a sharp increase in organic carbon during this period, mirroring the disturbances in the marine carbon cycle. These findings offer insights into how extreme greenhouse conditions impacted continental lakes and contribute to understanding the broader environmental shifts of the early Aptian.

Modern Relevance and Parallels

The OAE 1a event serves as a warning for current climate trends, highlighting the dangers of increased CO₂ emissions and the resulting warming. The ancient warming and oxygen depletion events mirror present-day concerns about anthropogenic climate change, which could trigger disruptions in marine ecosystems and contribute to mass extinctions. Understanding past events like OAE 1a offers crucial lessons in preventing similar ecological crises in the future.

Summary of the news

Key Points Details
Why in News Researchers studied East China’s lacustrine deposits to analyze the Aptian Oceanic Anoxic Event 1a (~120 million years ago), linked to global warming and oceanic oxygen depletion.
Event Name Oceanic Anoxic Event 1a (Early Aptian Stage, ~120 million years ago).
Primary Trigger Massive volcanic eruptions releasing large amounts of CO₂, causing global warming.
Key Consequences Oxygen depletion in oceans, deposition of organic-rich black shales, and disruption of marine ecosystems.
Geographical Focus East China (location of lacustrine deposits studied).
Modern Context Parallels drawn with current CO₂-driven global warming, emphasizing the impact of carbon cycle disruptions.

Sachin Tendulkar Accepts Prestigious MCC’s Membership

The Melbourne Cricket Club (MCC), a prestigious institution managing the iconic Melbourne Cricket Ground (MCG), has announced that legendary Indian cricketer Sachin Tendulkar has accepted its invitation to become an Honorary Cricket Member. This honor recognizes Tendulkar’s unparalleled contributions to the game over a remarkable 24-year international career.

Key Points

About MCC Membership

  • MCC is one of the most reputed sports clubs globally.
  • Manages the Melbourne Cricket Ground (MCG), an iconic sporting venue.
  • Honorary Membership acknowledges outstanding contributions to cricket.

Sachin Tendulkar Cricketing Achievements

Test Career

  • Debuted at age 16 against Pakistan in Karachi (November 1989).
  • Played 200 Tests, scoring 15,921 runs at an average of 53.78.
  • Holds the record for 51 Test centuries and 68 half-centuries.
  • Claimed 46 Test wickets, earning the nickname “golden arm.”

ODI Career

  • Debut against Pakistan in Gujranwala (December 1989).
  • Played 463 ODIs, scoring 18,426 runs at an average of 44.83.
  • Notched 49 centuries and 96 half-centuries.
  • Last ODI appearance against Pakistan (March 2012).

T20 Career

  • Played one T20I against South Africa in Johannesburg (December 2006).

Post Retirement Contributions

  • Plays charity matches with retired players of his generation.
  • Continues to inspire as a global ambassador of cricket.
Summary/Static Details
Why in the news? Sachin Tendulkar Accepts Prestigious MCC’s Membership
Membership Announcement Sachin Tendulkar accepts MCC’s Honorary Cricket Membership
Institution Melbourne Cricket Club (MCC), managing the Melbourne Cricket Ground (MCG)
Recognition For outstanding contributions to cricket
Test Career 15,921 runs in 200 matches, 51 centuries, 46 wickets
ODI Career 18,426 runs in 463 matches, 49 centuries, 96 half-centuries
T20 Career Played one T20I against South Africa in 2006
Retirement Final Test: November 2013 (Wankhede, Mumbai);

Final ODI: March 2012 (vs. Pakistan)

Post Retirement Plays charity matches; remains an ambassador for cricket

Amit Shah Reviews BBSSL’s Role in Strengthening Cooperative Agriculture

Union Home Minister and Minister of Cooperation Shri Amit Shah chaired a review meeting of Bhartiya Beej Sahkari Samiti Limited (BBSSL) in New Delhi. Attendees included Union Ministers of State for Cooperation Shri Krishna Pal and Shri Murlidhar Mohol, Secretary of Cooperation Dr. Ashish Kumar Bhutani, and senior officials. Shri Shah emphasized BBSSL’s pivotal role in realizing PM Narendra Modi’s vision of “Sehkar Se Samriddhi” by empowering farmers through the preservation and promotion of India’s traditional seeds.

Key Objectives and Targets

Expansion of Cooperative Network: Shri Shah set a target for BBSSL to connect with 20,000 additional cooperatives by 2025-26 to enhance outreach and seed distribution.

Focus on Sustainable Seeds: BBSSL was directed to prioritize seeds requiring less water and pesticides while boosting yields for small farmers and extending crop maturity periods.

Nutritional Value Assessment: Organizations like IFFCO and KRIBHCO were tasked to evaluate the nutritional quality of indigenous and hybrid seeds and make laboratories exemplary.

Production Highlights and Future Goals

Rabi 2024 Seed Production: BBSSL is cultivating certified seeds on 5,596 hectares across six states, targeting a production of 1,64,804 quintals from 49 varieties of 8 crops.

Sales Achievements: BBSSL has sold 41,773 quintals of seeds worth ₹41.50 crore, focusing on wheat, groundnut, oats, and berseem.

Ambitious Revenue Target: BBSSL aims to achieve a total turnover of ₹18,000 crore by 2032-33.

Roadmap for Seed Development

Shri Shah emphasized preparing a 10-year roadmap with regular reviews to enhance seed production and achieve strategic goals. BBSSL will leverage scientists and laboratories from government universities to advance seed research and innovation.

Summary of the news

Topic Details
Why in News Union Home Minister Amit Shah chaired a review meeting of Bhartiya Beej Sahkari Samiti Limited (BBSSL) in New Delhi, setting a ₹18,000 crore turnover target for 2032-33 and aiming to connect 20,000 more cooperatives by 2025-26.
Organization Bhartiya Beej Sahkari Samiti Limited (BBSSL) focuses on traditional seed preservation, certified seeds, and sustainable agriculture.
Turnover Target ₹18,000 crore by 2032-33.
Cooperatives Network Target to connect 20,000 additional cooperatives by 2025-26.
Seed Production (Rabi 2024) Producing seeds on 5,596 hectares across 6 states, targeting 1,64,804 quintals from 49 varieties of 8 crops.
Sales Achievement Sold 41,773 quintals of seeds worth ₹41.50 crore.
Key Organizations Involved IFFCO and KRIBHCO are evaluating the nutritional value of indigenous and hybrid seeds.
Government Initiative Linked to PM Modi’s “Sehkar Se Samriddhi” vision for cooperative empowerment.
Static Points Union Home Minister: Amit Shah
Affiliated Ministries: Ministry of Cooperation, Ministry of Home Affairs
Key Focus: Traditional seed preservation, higher crop yields, and certified seed promotion.

Dr. Sandip Shah Appointed A Chairperson of NABL

The National Accreditation Board for Testing and Calibration Laboratories (NABL), a constituent board of the Quality Council of India (QCI), has appointed Dr. Sandip Shah as its new Chairperson. A distinguished medical professional, Dr. Shah brings over three decades of expertise in healthcare, pathology, and diagnostics. This appointment marks a significant step in NABL’s mission to enhance quality and reliability in testing and calibration services.

Key Points About Dr. Shah

Educational Backgrounds

  • Gold Medalist in MD Pathology and Bacteriology from B.J. Medical College, Ahmedabad, Gujarat.

Professional Experience

  • Over 35 years in healthcare, specializing in pathology, molecular biology, and transplant immunology.
  • Founder of Neuberg Supratech Reference Laboratories.
  • Joint Managing Director at Neuberg Diagnostics.
  • Honorary Director at the Institute of Kidney Diseases and Research Center.

Key Achievements

  • Conceptualized and launched India’s first drive-through Covid testing facility, conducting over 3,500 tests at a single site.
  • Served as Chair of the Medical Labs Accreditation Improvement Committee (MLAIC) at NABL.
  • Visiting faculty at IIM Ahmedabad and CAP Inspector.

NABL and QCI Overview

  • NABL ensures the quality of testing and calibration services, vital for consumer safety and global competitiveness.
  • NABL’s role includes fostering trust in products and services for consumers, businesses, and regulators.
  • QCI, NABL’s parent organization, is an autonomous body promoting a quality-centric mindset in products and services for every citizen.

Transition in Leadership

  • Dr. Shah succeeds Prof. Subbanna Ayyappan, bringing his extensive expertise to NABL.
  • His tenure is expected to focus on advancing innovation and quality assurance in the testing and calibration sector.
Summary/Static Details
Why in the news? Dr. Sandip Shah Appointed A Chairperson of NABL
New Chairperson Dr. Sandip Shah
Predecessor Prof. Subbanna Ayyappan
Professional Background MD Pathology, Founder of Neuberg Supratech Labs, Joint MD at Neuberg Diagnostics
Key Achievements India’s first drive-through Covid testing facility, 3,500+ tests conducted at one site
NABL’ Role Quality assurance in testing and calibration services, enhancing global competitiveness
Parent Organization Quality Council of India (QCI)
Focus Areas Healthcare innovation, quality assurance, and consumer safety

Current Account Deficit Eases in Q2, Likely to Double in Q3

India’s current account deficit (CAD) for Q2 FY2024-25 moderated to $11.2 billion (1.2% of GDP) from $11.3 billion (1.3% of GDP) a year ago, as per RBI’s balance of payments (BoP) data. The moderation, despite a higher merchandise trade deficit, was driven by robust growth in services exports and improved net services receipts. However, a record-high trade deficit in November is expected to bloat CAD in Q3 to 2.5-2.7% of GDP.

Merchandise Trade Deficit Rises

The merchandise trade deficit grew to $75.3 billion in Q2 FY2024-25, up from $64.5 billion in Q2 FY2023-24, reflecting increased import activity. Despite this, services exports recorded substantial growth across categories such as computer services, business services, travel, and transportation, with net services receipts rising to $44.5 billion from $39.9 billion a year ago.

Financial Account Trends

In the financial account, net foreign direct investment (FDI) recorded an outflow of $2.2 billion in Q2 compared to $0.8 billion last year. Meanwhile, foreign portfolio investment (FPI) saw significant net inflows of $19.9 billion, up from $4.9 billion on-year. External commercial borrowings (ECB) inflows amounted to $5 billion, reversing last year’s outflows of $1.9 billion. NRI deposits also doubled to $6.2 billion from $3.2 billion in the same period.

Outlook for Q3 and FY2024-25

Economists predict a sharp rise in CAD to 2.5-2.7% of GDP in Q3 due to the record-high trade deficit in November. For the full fiscal year, CAD is expected to stabilize at 1.1-1.2% of GDP. Aditi Nayar, Chief Economist at ICRA Ratings, noted that the positive Q2 reading offers some comfort amidst the rupee’s weakening trend.

Summary of the news

Key Point Details
Why in News India’s CAD for Q2 FY2024-25 remained flat at 1.2% of GDP ($11.2 billion) despite a rising merchandise trade deficit. Economists project CAD to rise to 2.5-2.7% in Q3 due to a record-high trade deficit in November.
Merchandise Trade Deficit Rose to $75.3 billion in Q2 FY2024-25, compared to $64.5 billion in Q2 FY2023-24.
Net Services Receipts Increased to $44.5 billion from $39.9 billion a year ago, driven by computer, business, travel, and transportation services.
Financial Account Trends – Net FPI inflows: $19.9 billion (up from $4.9 billion last year).
– FDI outflows: $2.2 billion (up from $0.8 billion).
– ECB inflows: $5 billion (reversal from outflows of $1.9 billion).
– NRI deposits: $6.2 billion (doubled from $3.2 billion).
Current Account Deficit (CAD) Q2 FY2024-25: 1.2% of GDP ($11.2 billion).
H1 FY2024-25: 1.2% of GDP ($21.4 billion).
Economist View Aditi Nayar of ICRA projects FY2024-25 CAD at 1.1-1.2% of GDP, despite Q3 rising to 2.5-2.7%.

Which Indian District is Known as the Cashew Capital of the World?

Cashew are one of the most popular nuts in the world, loved for their creamy texture and delicious flavor. They are used in a variety of dishes and snacks, making them a favorite for people of all ages. But have you ever wondered which Indian district is known as the “Cashew Capital of the World”?

Worldwide Cashew Production

In 2023, the world produced 1,250,000 metric tons of cashews. This nut is popular for its taste and health benefits, with countries like Vietnam and India leading production. Cashews are a key ingredient in snacks and various cuisines globally.

Cashew Capital of the World

Kollam, a port city in Kerala, was once known as the “Cashew Capital of the World.” It earned this title because of its large-scale cashew production and global influence on cashew prices. However, the industry in Kollam has declined over the years due to various challenges.

Why Kollam is Known as the Cashew Capital of the World?

Kollam used to be the largest producer of cashews in the world. The city had over 780 licensed cashew factories that supplied cashews to global markets. Kollam’s exporters played a key role in deciding the global price of cashews. It was also home to major organizations like the Kerala State Cashew Development Corporation (KSCDC) and the Cashew Export Promotion Council of India (CEPCI).

Present Status of Kollam’s Cashew Industry

Today, the number of licensed cashew factories in Kollam has dropped from over 780 to less than 80. Despite this decline, the Kerala State Cashew Development Corporation and the Cashew Export Promotion Council of India continue to operate from Kollam.

Reasons for the Decline of Kollam’s Cashew Industry

  • Competition from Vietnam: Vietnam has emerged as a strong competitor in the cashew market. Unlike Kollam, Vietnam uses advanced technology and automated processes, making their production faster and cheaper.
  • Relocation of Factories: Many cashew factories in Kollam have moved to other states like Andhra Pradesh and Tamil Nadu, where operating costs are lower.
  • Lack of Technology in Kollam: Kollam’s cashew industry still relies heavily on manual labor. The lack of modern machinery has made it hard for the city to compete with countries like Vietnam
  • Vietnam’s Crop Yields and Kollam’s Impact: Although Vietnam’s domestic cashew crop yields have recently fallen, Kollam’s industry struggles to regain its lost status due to other ongoing challenges.