Top News Highlights- 9 October 2024

Maldives President’s Visit to India

• Economic Cooperation: India has started talks with the Maldives on a Bilateral Free Trade Agreement with a view to increasing economic cooperation and ending foreign currency dependence by more trade settlements in local currencies.
• Digital and Health Initiatives: RuPay card launching in Maldives is likely to ease payments to Indian tourists whereas a joint endeavor to initiate India-Maldives Jan Aushadhi Kendras across Maldives to promote accessible healthcare.
• Maritime and Development Projects: Both countries agreed that the Greater Malé Connectivity Project shall be completed on time but, in the medium term. An integrated maritime and economic partnership is envisioned under the MoU

India-UAE Bilateral Investment Treaty

• Investment Security: A new India-UAE BIT is expected to bolster investor confidence with assurance of equitable treatment and a promise of non-expropriation. Accordingly, the structure and dispute settlement regarding investment shall be stable.
• Economic Implications: As UAE has become a significant supplier of FDI to India, this treaty shall increase the inflow and deepen economic cooperation between the two countries.

Nobel Prize in Physiology or Medicine

• Scientific Discovery: Victor Ambros and Gary Ruvkun received the Nobel Prize for their discovery of microRNA and its significance in gene regulation, affecting several biological processes, including diseases.
• Biomedical Relevance: Understanding of microRNA functions shall, in the long run, contribute to innovative medicine with improved diagnosis and the prevention and treatment of some diseases such as cancer and diabetes.

Innovations for Defence Excellence (iDEX) Initiatives

• Defense Innovation: ADITI 2.0 and DISC 12 will initiate innovation in critical technologies such as AI, Quantum Technology, and anti-drone systems so that India can finally bolster its defense capabilities.
• Government Support: The government has increased the grants it provides for developing and commercializing these innovations, thereby boosting India’s self-reliance in defense technologies.

Global Water Resources Report

• Environmental Concerns: Based on reports, 2023 remained as the driest year for rivers around the world in three decades, casting much attention on the global management of its water resources and climate resilience.
• Policy Implications: Reports and insights work to develop guidelines on international and national policies on the sustainable use of water and climate mitigation.

Key Concepts and Policies

• RuPay Card: A digital payment system by the National Payments Corporation of India aims to reduce dependency on international payment gateways.
• Bilateral Investment Treaty (BIT): Agreements drawn up to protect investments from foreign governments, aiming to provide investors fair treatment and legal protection.
• MicroRNA: Small noncoding RNAs that regulate gene expression. They are important for biological processes and represent an interesting therapeutic target.