28-09-22 Daily-Kerala-KPSC Current Affairs

Prime Minister Narendra Modi unveiled SPRINT challenges, an initiative aimed at boosting the usage of indigenous technology in the INDIAN NAVY.

Modi unveiled the initiative at a naval seminar organised to engage Indian and academia towards achieving self-reliance in the DEFENCE sector.

The NIIO, in cooperation with the Defence Innovation Organisation (DIO), aims to induct at least 75 new indigenous technologies/products into the Indian Navy in sync with Azadi ka Amrit Mahotsav commemorating 75 years of the countrys Independence.

This collaborative project is named SPRINT Supporting Pole-Vaulting in R&D through iDEX (Innovations for Defence Excellence), NIIO and TDAC (Technology Development Acceleration Cell).

Union Government launched Jute Mark India logo, which will act as certification of authenticity for jute products.

The certification from jute mark India will help in strengthening domestic market and exports of jute products from India.

Jute Mark label will be attached with the jute products. It will contain a unique QR code. Customers can get to know about producers by scanning the QR code.

Jute Mark India scheme was set in motion to provide collective identity and assurance regarding origin and quality for jute and jute products.

It would work as a hallmark of powerful creative work, for defining the jute product with quality. It will distinguish the quality products from competition and connects it to customers.

The certification is expected to boost domestic market and exports of jute products from India.

Swachh Toycathon was launched by the Ministry of Housing and Urban Affairs under the Swachh Amrit Mahotsav.

It was hosted on MyGovs Innovate India portal.

The knowledge partner of this initiative is Center for Creative Learning, IIT Gandhinagar.

This competition integrates the National Action Plan for Toys (NAPT) and Swachh Bharat Mission Phase II to explore solutions to make toys using waste materials.

The Union Commerce Ministry July 19, 2022, saidwork from Home(WFH) is allowed for a maximum period of one year in a special economic zone unit and can be extended to 50% of total employees.

The Department of Commerce has notified a new rule 43A for WFH in Special Economic Zones Rules, 2006.

The Ministry said the notification was issued on demand from the to make a provision for a countrywide uniform WFH policy across all Special Economic Zones (SEZs). The new rule provides work from home for a certain category of employees of a unit in SEZ.

These include employees of IT/ITeS SEZ units; employees, who are temporarily incapacitated; employees, who are travelling and who are working offsite, it added. WFH may be extended to a maximum of 50% of total employees, including contractual employees of the unit, it added.

Russia is seeking payment in United Arab Emirates dirhams for oil exports to some Indian customers, three sources said and a document showed, as Moscow moves away from the U.S. dollar to insulate itself from the effects of Western sanctions.

Russian oil major Rosneft is pushing crude through trading firms including Everest Energy and Coral Energy into India, now its second biggest oil buyer after China.

Western sanctions have prompted many oil importers to shun Moscow, pushing spot prices for Russian crude to record Discounts against other grades.

Indias imports from Chinareached a record $57.51 billion in the first half of the year, according to Chinas trade figures released on July 13.

Imports of Chinese goods are on track for yet another record year, and set to surpass last years $97.5 billion figure.

The trade imbalance is also on track for another record, with Indias exports to China down by 35% and accounting for only $9.57 billion of the $67.08 billion two-way trade. Imports this year are up 34.5% from the same period in 2021.

Two-way trade in 2021 crossed $100 billion for the first time, reaching $125.6 billion, with Indias imports accounting for $97.5 billion. Trade declined in 2020 on account of the pandemic but is now significantly up pre-pandemic levels.

Chinas overall export performance in June showed a recovery, up 13.2%, with total trade up 14.3% in June, compared to 9.5% in May 0.1% in April when many cities in the manufacturing heartland, including Chinas financial centre Shanghai, were dealing with stringent lockdowns.