27-01-22 Daily-Gujarat-GPSC Current Affairs

The increase in capital procurement budget to 68% for domestic in the DEFENCE sector is expected to increase output from Rajkot, the hub of engineering units, many of whom are engaged in making parts for defence equipment. There are at least 300 small and big units making parts fordefence equipment, according to industry sources in Rajkot.
Over the last few years, the engineering units of Rajkot are bagging contracts from the Indian Railways as well as the defence ministry.

TheUnion budgetalso proposed to open up research and development for industry and startups in the defence sector.

The FM proposed revoking anti-dumping duty and countervailing duty (CVD) on stainless steel and coated steel flat products, bars of Alloy steel and high speed steel. This will also help the local engineering units, especially those making kitchenware and hardware industry.

In December 2021, India’s electronic goods exports totaled USD 1.67 billion. It increased by 33.99 percent compared to December 2020 exports of USD 1.25 billion.

Highlights:

From April to December 2021, the electronic sector’s exports increased by 49 percent, reaching USD 11.0 billion, up from USD 7.4 billion in 2020.

Exports of Electronic Goods increased by 26% and 131 percent, respectively, from USD 8.8 billion in April-December 2019 to USD 4.8 billion in April-December 2014.

Mobile phones account for a significant portion of India’s electronic goods exports.

IT Hardware, such as laptops and tablets; Industrial electronics; Consumer electronics, such as TVs and audio; LED Lighting; Strategic electronics, Auto electronics, electronic components, Telecom equipment, wearables, and audio devices; and Strategic electronics, Auto electronics, electronic components, Telecom equipment, wearables, and audio devices.

Bharti Airtel and Google have launched long-term cooperation to help India’s digital ecosystem grow faster.

Highlights:

Bharti Airtel and Google have launched long-term cooperation to help India’s digital ecosystem grow faster.

Google would spend $1 billion in Airtel as part of the agreement. Google would invest USD 700 million to acquire a 1.28 percent interest in Bharti Airtel Ltd.

The remaining USD 300 million will be used to fund multi-year commercial agreements with Airtel, including products developed in collaboration between the two tech giants.

HDFC Bank is voted Best Private Bank in India at the Global Private Banking Awards 2021.

Highlights:

At the ‘Global Private Banking Awards 2021,’ organized by Professional Wealth Management (PWM) in a virtual ceremony, HDFC Bank was voted the ‘Best Private Bank’ in India.

The Financial Times Group publishes PWM, a wealth management magazine. The prize was presented to assist in accelerating significant trends, such as digitization, Communication, and in ESG initiatives (environmental, social, and Governance).

PWM received over 120 submissions for the Global Private Banking Awards 2021, of which 16 judges judged from four continents.

According to the World Gold Council, global gold demand jumps 10% to 4,021 tonnes.

Highlights:

According to the World Gold Council’s (WGC) publication ‘Gold Demand Trends 2021,’ worldwide gold demand increased 10% to 4,021.3 tonnes in 2021.

Overall gold demand in 2020 was 3,658.8 tonnes, which was impacted by the Covid-19-related interruptions.

The demand for gold was driven mainly by central bank purchases in the fourth quarter of 2021 and a rebound in jewelry purchasing, primarily in India and China.

On the back of improved consumer optimism and pent-up demand following the Covid-19-related disruptions, India’s gold consumption increased to 797.3 tonnes in 2021. The optimistic trend is expected to continue this year.

The World Rapid Chess Championship 2021 was won by Nodirbek Abdusattorov.

Highlights:

Nodirbek Abdusattorov (Uzbekistan) defeated Ian Nepomniachtchi (Russia) in a tiebreaker to win the World Rapid Chess Championship 2021 and dethrone Magnus Carlsen, the current World Number 1.

Magnus Carlsen won the FIDE Championship in 2020. Nodirbek took Home the title and a $60,000 prize after losing only one match to Ukrainian Anton Korobov and tying in five others.

The Mard Uglon (“Brave Son”) Presidential medal was presented to the Uzbeki Grand Master (GM).