World's AIDS Vaccine Day 2024: Date, Theme, History and Significance

World’s AIDS Vaccine Day 2024: Date, Theme, History and Significance

World AIDS Vaccine Day, also known as HIV Vaccine Awareness Day, is observed annually on May 18th. This day is dedicated to raising awareness about the urgent need for AIDS vaccines and acknowledging the efforts of individuals, including doctors, scientists, and community members, who are committed to developing vaccines to combat HIV/AIDS.

Understanding AIDS

AIDS, which stands for Acquired Immunodeficiency Syndrome, is caused by the human immunodeficiency virus (HIV). The disease was first reported in 1981 in the United States. HIV attacks the body’s immune system, gradually weakening it over time. If left untreated, HIV can progress to AIDS, wherein the immune system is severely compromised, making the body vulnerable to various infections and diseases.

History of World AIDS Vaccine Day

World AIDS Vaccine Day traces its origins to a speech delivered by then-President Bill Clinton at Morgan State University on May 18, 1997. In his address, President Clinton emphasized the critical importance of developing a vaccine to halt the spread of the HIV/AIDS epidemic. Since then, May 18th has been globally recognized as a day to promote awareness about HIV/AIDS and the imperative need for a vaccine.

Theme for World’s AIDS Vaccine Day 2024

While the theme for World AIDS Vaccine Day 2024 has not yet been announced, the overarching focus remains on innovative research, accelerated vaccine development, and protective measures to realize the goal of an AIDS-free world. In 2023, the theme, ‘Measure Your Blood Pressure Accurately, Control It, Live Longer,’ highlighted the importance of raising awareness and taking appropriate measures for disease prevention.

Significance of World’s AIDS Vaccine Day

World AIDS Vaccine Day holds significant importance in acknowledging the progress made in AIDS research and underscoring the ongoing efforts required to combat the disease. It serves as a poignant reminder of the global commitment needed to develop an effective vaccine that can prevent HIV infections and ultimately eradicate AIDS. Moreover, the day serves to honor the dedication of individuals tirelessly working towards the development of an AIDS vaccine and promotes awareness about prevention efforts.

Awareness Initiatives

On World AIDS Vaccine Day, numerous organizations and governments worldwide organize various programs and events to educate communities about HIV/AIDS prevention and control. These initiatives aim to dispel misconceptions surrounding the disease, encourage HIV testing and early diagnosis, and advocate for accessible treatment and support services.

Coal India, NMDC, ONGC Videsh Seek Overseas Critical Mineral Assets

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The Indian government has announced plans for public sector companies like Coal India, NMDC, and ONGC Videsh Ltd (OVL) to actively seek critical mineral assets overseas. This strategic move aims to secure vital mineral resources essential for various industries, including clean energy technologies and electric vehicles.

Introduction of Overseas Ventures

Coal India, NMDC, and ONGC Videsh Ltd (OVL) are set to explore critical mineral assets abroad under the guidance of a group of secretaries. These public sector undertakings (PSUs) are already established players in the international market and are well-positioned to expand their presence in search of essential mineral resources.

ONGC Videsh Ltd (OVL) Leads the Charge

ONGC Videsh Ltd (OVL), the overseas investment arm of Oil and Natural Gas Corporation (ONGC), will play a significant role in the overseas venture. As a seasoned player in the global energy market, OVL brings valuable expertise and experience to the table, ensuring effective exploration and acquisition of critical mineral assets.

Active Pursuit of Mineral Assets

Coal India has initiated active pursuit of lithium blocks in Chile, signaling its proactive approach towards securing critical minerals. Similarly, NMDC is already engaged in mining operations in Australia, focusing on gold mines and exploring opportunities in lithium mining. These efforts highlight the commitment of Indian PSUs to diversify their mineral portfolios and mitigate supply risks.

Khanij Bidesh India Ltd (KABIL) Joint Venture

Khanij Bidesh India Ltd (KABIL), a joint venture of three PSUs – National Aluminium Company Ltd (Nalco), Hindustan Copper Ltd (HCL), and Mineral Exploration and Consultancy Ltd (MECL), is dedicated to scouting for mineral assets overseas. This collaborative effort strengthens India’s position in the global mineral market and enhances its resource security.

Strategic Partnerships and Trade Agreements

India is actively exploring partnerships with countries like Chile and Australia to secure access to copper, lithium, and other critical mineral assets. Efforts are underway to expand existing Free Trade Agreements (FTAs) to include provisions for critical minerals, facilitating government-to-government access to these resources. Additionally, India is exploring joint exploration ventures with countries like Zambia to tap into critical mineral reserves.

Importance of Critical Minerals

Critical minerals such as copper, lithium, nickel, and cobalt are integral to various clean energy technologies, including wind turbines, electric vehicles, and electricity networks. As the demand for these minerals continues to rise, securing a stable supply becomes paramount for driving sustainable growth and achieving energy transition goals.

India’s April Trade Performance: Exports Inch Up, Trade Deficit Widens

In April, India’s merchandise exports saw a modest 1% increase, reaching $34.99 billion, driven by robust growth in sectors like electronics, chemicals, petroleum products, and pharmaceuticals, despite global economic uncertainties. However, the trade deficit widened to a five-month high of $19.1 billion, with imports rising by 10.25% to $54.09 billion. Notably, imports of gold and crude oil surged, contributing to the deficit.

Key Highlights

Exports and Imports

Exports up by 1% to $34.99 billion.
Imports surged by 10.25% to $54.09 billion, driven by significant increases in gold and crude oil imports.

Sectoral Performance

Healthy growth observed in sectors like electronics, chemicals, petroleum products, and pharmaceuticals.
Merchandise exports in 13 out of 30 key sectors showed positive growth, including coffee, tobacco, spices, plastic, and handicrafts.

Trade Deficit

Trade deficit widened to a five-month high of $19.1 billion, attributed to the significant increase in imports, particularly gold and crude oil.

Services Trade

Services exports estimated at $29.57 billion, compared to $25.78 billion in April 2023.
Imports of services increased to $16.97 billion, up from $13.96 billion in April 2023.

Commerce Ministry’s Outlook

Commerce Secretary Sunil Barthwal highlighted that despite the widening trade deficit, the fiscal year started on a positive note, with hopes for continued growth. He also noted that the total exports in goods and services for 2023-24 have been revised to $778.21 billion, the highest recorded so far, with merchandise exports at $437.1 billion and services exports at $341.1 billion.

DPIIT Reports Over 7 Million Transactions on ONDC Platform in April

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The Open Network for Digital Commerce (ONDC), a digital infrastructure initiative launched in 2021, has witnessed remarkable growth, with transactions crossing 70 lakh in April this year. Led by the Department for Promotion of Industry and Internal Trade (DPIIT), ONDC aims to democratize digital commerce and create a level playing field for businesses of all sizes. Let’s explore the key highlights and significance of ONDC through subheadings.

Facilitating Digital Commerce

ONDC serves as a pioneering digital infrastructure that aims to democratize digital commerce in India. By providing a platform that lowers entry barriers and fosters competition, ONDC opens up new opportunities for businesses, especially small and medium-sized enterprises (SMEs), to participate in the digital economy.

Impressive Milestones

The Department for Promotion of Industry and Internal Trade (DPIIT) announced that over 5 lakh sellers have been onboarded on the ONDC platform, with more than 70% of them being small or medium-sized sellers. Additionally, over 125 ecosystem stakeholders, including startups, unicorns, and businesses, have signed Letters of Intent (LoI) to join ONDC, reflecting the platform’s growing influence and appeal.

Role of Startups

Startups play a pivotal role in driving innovation and fostering competition within the ONDC ecosystem. Joint Secretary of DPIIT, Sanjiv Singh, emphasized the significance of startups in enhancing consumer choice and driving momentum for the national initiative. More than 125 startups have committed to onboard the ONDC network, demonstrating their enthusiasm for leveraging the platform to innovate and expand their reach.

Addressing Market Challenges

Creating and discovering markets pose significant challenges for startups, especially those that have been digitally excluded. ONDC addresses these challenges by lowering entry barriers to digital commerce and providing a level playing field for all e-commerce players. The platform empowers small-scale businesses and digitally excluded entities to participate in the digital economy on equal footing with larger counterparts.

ONDC Entity and Governance

The ONDC entity, established as a not-for-profit company under Section 8 of the Companies Act 2013, manages and operates the ONDC Network. Responsible for building and maintaining the underlying infrastructure, the entity defines the rules of engagement and code of conduct for network participants through the ONDC Network Policy and the ONDC Network Participant Agreement.

SBI Raises Short-Term Retail Fixed Deposit Rates Amidst Economic Shifts

In response to rising credit demand and falling liquidity, State Bank of India (SBI) has increased short-term retail fixed deposit rates by 25-75 basis points (bps), marking its first interest rate hike since December. This move, likely to be emulated by other banks, reflects a strategic adjustment to offer better returns for depositors.

Interest Rate Adjustments

For retail domestic term deposits (below Rs 2 crore) maturing between 46 and 179 days, SBI now offers 5.5 percent, up from 4.75 percent, and 6 percent for senior citizens, up from 5.25 percent.
Deposits maturing in the 180-210 days tenor now yield 6 percent, compared to 5.75 percent previously, with seniors receiving 6.25 percent.
SBI offers 6.25 percent on deposits maturing in the 211-365 days tenor, an increase from the previous 6 percent. Senior citizens now earn 6.75 percent.

Impact on Bulk Deposits

SBI has also adjusted interest rates on domestic bulk term deposits (Rs 2 crore and above) by 10-50 bps across different maturities, enhancing returns for bulk investors.

Financial Outlook and Strategy

SBI’s move aligns with its strategic focus on chasing low-cost funds, as evidenced by its 16.38 percent increase in domestic term deposits in FY24. Chairman Dinesh Khara anticipates a credit growth of 14-16 percent in the current fiscal year, driven by retail and corporate loans. Despite sitting on excess liquidity of around Rs 3.5 trillion, SBI is prepared to mobilize capital to meet loan disbursement needs, with live loan sanctions worth Rs trillion. This proactive stance positions SBI to navigate evolving economic dynamics effectively.

RBI Policy Context

Between May 2022 and February 2023, the Reserve Bank of India (RBI) implemented a series of repo rate hikes totaling 250 bps, bringing the rate to 6.5 percent. This tightening of monetary policy by the RBI underscores the broader economic context shaping SBI’s interest rate adjustments.

Indian Army Set to Receive Russian Igla-S Air Defence Systems

The Indian Army is poised to elevate its air defense capabilities with the impending delivery of the Russian Igla-S Very Short Range Air Defense (VSHORAD) systems. This acquisition, featuring a technology transfer agreement between Adani Defence Systems and Technologies Limited (ADSTL) and Russia’s Rosoboronexport, represents a significant advancement in India’s defense preparedness.

What is Igla-S VSHORAD Systems?

The Igla-S VSHORAD system, a portable missile system, is specifically designed to counter low-altitude aerial threats, including aircraft, helicopters, and drones, in close proximity. Its integration into the Indian Army’s arsenal addresses critical gaps in the nation’s air defense grid. The procurement package includes 48 launchers, 100 missiles, and supplementary equipment such as night vision gear and a testing facility.

Progress Towards Self-Sufficiency in Defense Manufacturing

A noteworthy aspect of this acquisition is the partial assembly of the Igla-S systems in India, underscoring a significant stride towards enhanced self-sufficiency in defense manufacturing. While the missiles are sourced from Russia, the local assembly of specific components signifies progress towards indigenous production capabilities, aligning with the government’s vision for Make in India initiatives.

Resolution of Payments Dispute and Streamlined Collaborations

The anticipated delivery of the Igla-S systems in late May follows the resolution of a prolonged payments dispute between India and Russia, which had previously hindered several defense agreements. This breakthrough, facilitated through the utilization of national currencies, is expected to streamline future collaborations between the two nations and enhance bilateral defense cooperation.

Additional Advancements in Defense Capabilities

In addition to the Igla-S acquisition, the Indian Army is gearing up to receive the initial delivery of one of two Israeli Hermes-900 Medium Altitude Long Endurance Unmanned Aerial Vehicles (UAVs) in the upcoming month. These advancements, combined with ongoing efforts to develop domestic defense systems, underscore India’s commitment to strengthening the capabilities of its armed forces and safeguarding its security amidst dynamic geopolitical shifts.

India Risks US Sanctions Over Chabahar Port Deal with Iran

India has signed a 10-year agreement to develop and operate Iran’s strategic Chabahar Port to strengthen trade ties with Central Asia and Afghanistan, bypassing Pakistan. However, this deal faces potential US sanctions, complicating New Delhi’s strategic objectives.

Strategic Importance of Chabahar Port

The Chabahar Port, located in southeastern Iran’s Sistan-Baluchestan province, is crucial for India’s trade ambitions. By operating a terminal in the Shahid Beheshti section, India aims to establish a direct trade route to Afghanistan and Central Asia, circumventing its rival Pakistan. Indian Shipping Minister Sarbananda Sonowal highlighted the port’s role as a vital trade artery for India.

Details of the Agreement

India Port Global Limited (IPGL) and Iran’s Ports and Maritime Organization (PMO) signed the deal, committing India to invest $120 million into the port’s terminal over ten years, with an additional $250 million loan facility, bringing the total contract value to $370 million. This agreement, revived post-2015 Iran nuclear deal sanctions relief, aims to solidify the infrastructure and operational capabilities of the port.

US Sanctions Threat

The US has issued a warning about potential sanctions for entities engaging with Iran. US State Department spokesman Vedant Patel cautioned businesses of the risks involved in deals with Iran. Despite this, India’s Foreign Minister Subrahmanyam Jaishankar expressed confidence in communicating the strategic benefits of the port to the US, advocating for a broader understanding of its significance.

Historical Context and Revival of the Deal

Initial talks between India and Iran regarding Chabahar Port began in 2003 but stalled due to US sanctions. The 2015 easing of sanctions under the Iran nuclear deal revitalized discussions, leading to a tripartite agreement involving India, Iran, and Afghanistan during Indian Prime Minister Narendra Modi’s visit to Iran in 2016. This agreement underscored the shared interest in developing alternative trade routes.

Southwest Monsoon to Reach Kerala Around May 31

The India Meteorological Department (IMD) has forecasted that the annual southwest monsoon is likely to reach Kerala around May 31, marking the onset of the rainy season in the region. This announcement comes amidst anticipation and preparation for the arrival of the monsoon across the country.

Timing of Monsoon Arrival

According to Mrutyunjay Mohapatra, Director General of the weather department, the expected arrival date of the southwest monsoon in Kerala is close to the normal date and is not considered early. The variability in the onset of the monsoon in Kerala has been observed over the past 150 years, with the onset in 2023 recorded on June 8.

Above-Normal Rainfall Prediction

In April, the India Meteorological Department made a significant prediction of above-normal rainfall for the upcoming monsoon season. This marks the first time in nearly a decade that the weather agency has forecasted “above normal” rainfall in its long-range forecast. The department expects the country to receive 106% of the long period average rainfall, which is the mean rainfall during the four-month monsoon season over the last 50 years.

Monsoon Season Overview

The southwest monsoon season typically begins in June and continues until September, encompassing the major part of India’s annual rainfall. The monsoon’s onset and retreat play a crucial role in agriculture, water resources, and overall economic activities in the country.

Implications for Agriculture and Water Management

The timely onset and anticipated above-normal rainfall during the southwest monsoon season bode well for agricultural activities and water management initiatives across India. Adequate rainfall is crucial for crop cultivation, replenishing water reservoirs, and sustaining ecosystems. Farmers and policymakers will closely monitor the progression of the monsoon to optimize agricultural planning and resource allocation.

India’s Foreign Exchange Reserves Jump $2.56 Billion to $644.15 Billion

India’s foreign exchange reserves saw an increase of $2.56 billion, reaching a total of $644.15 billion for the week ended May 10, according to the Reserve Bank of India (RBI). This follows a previous increase of $3.668 billion after three consecutive weeks of decline.

Foreign Currency Assets

The foreign currency assets, which form a significant portion of the reserves, rose by $1.488 billion to $565.648 billion. These assets are influenced by the appreciation or depreciation of non-US currencies like the euro, pound, and yen.

Gold Reserves

Gold reserves experienced a significant rise, increasing by $1.072 billion to $55.952 billion during the reported week.

Special Drawing Rights (SDRs

The Special Drawing Rights with the International Monetary Fund (IMF) increased by $5 million, bringing the total to $18.056 billion.

IMF Reserve Position

India’s reserve position with the IMF saw a slight decrease of $4 million, totaling $4.495 billion for the reporting week.

Veteran Author Malti Joshi Passes Away at 90

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Malti Joshi, a revered figure in the literary world and recipient of the prestigious Padma Shri award, passed away at the age of 90 after a battle with cancer. Her legacy as a prolific writer and storyteller leaves an indelible mark on Hindi and Marathi literature.

Literacy Legacy of Malti Joshi

Malti Joshi was renowned for her prolific literary contributions, with over fifty collections of stories in Hindi and Marathi. Her storytelling style was characterized by its uniqueness, earning her a special place in the literary realm. Joshi’s works have been extensively studied in universities across India, attesting to the profound impact of her storytelling on readers and scholars alike. Throughout her illustrious career, she authored more than 60 books, leaving behind a rich tapestry of stories that continue to inspire.

Padma Shri Recognition

In recognition of her significant contributions to literature, Malti Joshi was conferred with the Padma Shri award in 2018. This prestigious honor underscored her prowess as one of the most prominent Hindi story writers of her time, solidifying her status as a literary luminary.

Early Life and Education of Malti Joshi

Born on June 4, 1934, in Aurangabad, Maharashtra, Malti Joshi pursued her education in Madhya Pradesh before graduating from the Holkar College of Dr. Bhimrao Ambedkar University, Indore. Her passion for Hindi literature led her to obtain a Master of Arts degree in the same field in 1956, laying the foundation for her illustrious literary career.

Television Adaptations and Reach

Malti Joshi’s literary works transcended boundaries and were adapted for television by Doordarshan, India’s national broadcaster. She also made appearances in television shows such as ‘Saat Phere,’ produced by Jaya Bachchan, and ‘Kirdaar,’ produced by Gulzar. Her stories were translated into multiple languages, including Marathi, Urdu, Bengali, Tamil, Telugu, Punjabi, Malayalam, Kannada, English, Russian, and Japanese, showcasing her wide-reaching influence and appeal across diverse audiences.

A Lasting Legacy

Malti Joshi’s passing marks the end of an era in Hindi and Marathi literature. Her profound storytelling abilities and literary contributions will continue to resonate with readers and enthusiasts for generations to come. As the literary community mourns her loss, Malti Joshi’s legacy will endure through her timeless stories and enduring influence on Indian literature.