CURRENT AFFAIRS 11 September, 2024

CURRENT AFFAIRS 11 September, 2024

1. INDIA SURPASSES CHINA IN MSCI EMERGING MARKETS INDEX –

• India has overtaken China in the Morgan Stanley Capital International (MSCI) Emerging Markets Investable Market Index (EM IMI) with a weightage of 22.27%, surpassing China’s 21.58%.
• This shift reflects India’s strong market performance and favorable macroeconomic conditions, contrasted with China’s economic challenges.
• In September 2024, India’s weight in the MSCI EM IMI increased, reflecting broader market trends.
• While the MSCI Emerging Markets Index covers large and mid-cap stocks, the EM IMI includes large, mid, and small-cap stocks, with India’s weight benefiting from a higher small-cap component.

2. NEPAL BECAME 101ST MEMBER OF ISA –

• Nepal has become the 101st country to join the International Solar Alliance (ISA) as a full member. The Ministry of External Affairs said that Nepal handed over its Instrument of Ratification to the ISA in New Delhi on 9th September.
• The ISA is a global intergovernmental organization dedicated to advancing solar power adoption for a carbon-neutral future.
• The ISA is a collaborative initiative between India and France aimed at uniting efforts to combat climate change by implementing solar energy solutions. It was conceptualized on the side lines of COP21 in Paris in 2015.
• Following a 2020 amendment to its Framework Agreement, all UN member states are now eligible to join the Alliance.

3. INDIAN NAVY ACQUIRES 500 SONOBUOYS –

• The Indian Navy has taken a major step to strengthen its anti-submarine warfare (ASW) capabilities by purchasing 500 sonobuoys for $52.8 million (around Rs 436 crore).
• These sonobuoys will be used with the Sikorsky MH-60R helicopters. This purchase came at the same time as Defence Minister Rajnath Singh’s discussions in Washington, where the US approved a potential military sale to India.
• This purchase is important because it helps India counter the growing naval activity of China in the Indian Ocean, especially the increased presence of Chinese submarines.
• To keep an eye on these submarines and respond if needed, the Indian Navy needs to improve its ability to detect and track submarines underwater.

4. INDIA BECOMES WORLD’S SECOND-LARGEST 5G SMARTPHONE MARKET –

• India has overtaken the US to become the second-largest global market for 5G smartphones, with a 13% market share, trailing China at 32%.
• Brands like Samsung, Vivo, and Xiaomi, especially in budget segments, have driven India’s 5G growth.
• 5G devices now account for 54% of the total handset market, with forecasts predicting 65% by 2025.

5. THE AGNI-4 MISSILE WAS SUCCESSFULLY LAUNCHED FROM THE INTEGRATED TEST RANGE IN CHANDIPUR, ODISHA –

• The launch successfully validated all operational and technical parameters. It was conducted under the aegis of the Strategic Forces Command (SFC).
• Agni-4 is fourth in the Agni series of medium to intercontinental-range ballistic missiles developed by the DRDO.
• The name comes from the Sanskrit word ‘Agni’, which means ‘fire’ and represents one of the five elements of nature.
• Agni-4 It is an intermediate-range ballistic and surface-to-surface missile, designed to be launched from the ground or sea to hit targets on the ground or sea.
• The Agni-4 missile has a range of 4,000 kilometres, a length of 20 metres, and can carry a payload of 1,000 kg.

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