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Why in the news? Brazil has officially joined OPEC+, a coalition of 22 oil-exporting nations, to enhance global oil market stability. This move boosts Brazil’s role in energy policies, impacting oil supply, pricing, and international market dynamics. Brazil’s Entry into OPEC+: Brazil’s government has approved its entry into OPEC+, an alliance of major oil-exporting nations. …
Read MoreWhy in the news? India’s average import tariff (17%) is the highest among BRICS nations and five times that of the U.S. (3.3%), mainly due to high agricultural tariffs. The U.S. is pushing for tariff reductions, impacting trade negotiations. India’s Import Tariff Structure India’s average import tariff in 2023 was 17%, significantly higher than the …
Read MoreSyllabus: GS-2: International Treaties & Agreements, Government Policies & Interventions GS-3: Inclusive Growth, Government Policies & Interventions, Effect of Policies & Politics of Countries on India’s Interests Focus: US President Donald Trump has proposed reciprocal tariffs, ensuring the US imposes the same tariffs on imports as other countries impose on US exports. This challenges existing …
Read MoreWhy in the news? The Kashmir hand-knotted carpet, a centuries-old craft, received a new GI logo from the Geographical Indications Registry, Chennai, to ensure authenticity, protect artisans from imitations, and boost global recognition and exports. Preserving a Timeless Craft: The Kashmir hand-knotted carpet, renowned for its intricate designs and superior craftsmanship, now has a new …
Read MoreWhy in the News? Economic, military, and political factors serve as key drivers of India-China détente. These drivers are expected to gain greater significance with Donald Trump assuming leadership in Washington. India and China are engaging in dialogue again rather than speaking past each other. A key question arises: Is this a return to the …
Read MoreWhy in the news? The India-Middle East-Europe Economic Corridor (IMEC) was launched during the 2023 G20 Summit to improve trade ties, reduce costs, promote sustainable development, and integrate infrastructure across India, the Middle East, and Europe. India-Middle East-Europe Economic Corridor (IMEC): IMEC: Connectivity initiative strengthening economic ties between India, Arabian Peninsula, Mediterranean, and Europe. Announced …
Read MoreSyllabus: GS-3: Fiscal Policy, Monetary Policy, Capital Market Focus: The Indian rupee has recently experienced sharp devaluation due to rising capital outflows, increasing import costs, and a shift in RBI’s exchange rate policy, raising concerns about inflation, export competitiveness, and economic stability in a global context of financial uncertainties. Understanding Exchange Rate Dynamics: Exchange Rate …
Read MoreWhy in the news? India is enhancing its multifaceted relationship with GCC nations, focusing on trade, energy security, defence, and emerging technologies. The India-GCC Joint Action Plan (2024-2028) emphasizes strategic partnerships, including space exploration, nuclear energy, and green hydrogen initiatives. Economic and Trade Ties: The Gulf Cooperation Council (GCC) is India’s largest trading bloc, with …
Read MoreWhy in the news? The Gulf Cooperation Council (GCC), a key energy bloc, maintains strong economic ties with India, highlighted by substantial trade and expatriate remittances, emphasizing its role as India’s largest regional partner and a strategic ally in global dynamics. India-GCC Bilateral Relations India and the GCC share strong economic ties, with bilateral trade …
Read MoreWhy in the news? The Panama Canal continues to be vital for global trade, with recent discussions about its geopolitical significance and U.S. interest in regaining control. Overview of the Panama Canal: A 40-mile-long man-made waterway linking the Atlantic and Pacific Oceans. Completed in August 1914 by the United States. One of the world’s most …
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