1. India signs defence contracts worth ₹5,083 crore
India’s Ministry of Defence signed major defence procurement contracts worth about ₹5,083 crore to strengthen naval and aerial capabilities.
Key points
- The contracts include procurement of Advanced Light Helicopter (ALH) Mk-III developed by Hindustan Aeronautics Limited.
- ALH Mk-III helicopters will be used mainly by the Indian Navy and Indian Coast Guard for maritime operations.
- These helicopters are equipped with:
- Advanced navigation systems
- Electro-optical sensors
- Search and rescue equipment
Importance
- Strengthens maritime surveillance and coastal security.
- Supports the Atmanirbhar Bharat initiative, which promotes indigenous defence manufacturing.
- Encourages domestic defence industries.
2. India–Canada Uranium Supply Agreement
India and Canada have signed a 10-year uranium supply agreement worth nearly $1.9 billion.
Background
Canada is one of the world’s largest uranium producers. The deal will help India secure a steady supply of uranium fuel for its nuclear reactors.
Key points
- Uranium will be supplied by Cameco Corporation, a Canadian uranium company.
- It will fuel India’s nuclear reactors operated by Nuclear Power Corporation of India Limited (NPCIL).
Importance
- Strengthens India’s civil nuclear energy programme.
- Supports clean energy generation since nuclear power produces low carbon emissions.
- Enhances bilateral trade relations between India and Canada.
3. India–Japan Currency Swap Arrangement Renewed
The Reserve Bank of India and the Bank of Japan renewed their $75 billion bilateral currency swap agreement.
What is a Currency Swap?
A currency swap is an agreement where two countries exchange currencies to maintain financial stability.
Purpose
- Helps manage foreign exchange liquidity problems.
- Prevents sudden currency crises.
- Strengthens financial cooperation.
Importance
- Ensures stability of the Indian rupee.
- Demonstrates strong economic relations between India and Japan.
4. Semiconductor Investment in Gujarat
The state of Gujarat received semiconductor-related investment proposals worth ₹1,600+ crore from companies in Japan, South Korea, and Malaysia.
What is Semiconductor Industry?
Semiconductors are tiny electronic components used in:
- Computers
- Smartphones
- Cars
- Defence systems
- Artificial intelligence devices
Key points
- Investments focus on:
- Semiconductor research and development centres
- Chip packaging and testing units
- Manufacturing of semiconductor equipment
Importance
- Supports India’s semiconductor mission.
- Reduces dependence on imports.
- Strengthens India’s electronics manufacturing ecosystem.
5. Rising tensions involving Iran in West Asia
Geopolitical tensions increased in West Asia involving Iran, the United States, and Israel.
Key developments
- Military strikes and counter-threats increased tensions in the region.
- Concerns grew about the possibility of a wider regional conflict.
Why it matters
- West Asia is a major global energy supply region.
- Instability can affect:
- Oil prices
- Global trade routes
- International security.
6. Tensions in the Strait of Hormuz
Rising geopolitical tensions affected shipping through the Strait of Hormuz.
About the Strait of Hormuz
- Located between Iran and Oman.
- One of the world’s most important oil transport routes.
Key facts
- Around 20% of the world’s oil supply passes through this strait.
- Any disruption can increase global oil prices.
Impact on India
- India imports a large portion of its oil from the Middle East.
- Supply disruptions can increase fuel prices and inflation.
7. India welcomes Nepal elections
India welcomed the successful conduct of elections in Nepal.
Key points
- India emphasized its support for:
- Democratic institutions
- Peaceful political processes
- Regional stability.
Importance
- Nepal is an important neighbouring country of India.
- Strong India–Nepal relations are crucial for:
- Border security
- Trade
- Cultural connections.
8. Indian Rupee weakens against US Dollar
The Indian rupee weakened and crossed ₹92 per US dollar.
Reasons
- Global geopolitical tensions.
- Rising crude oil prices.
- Strong US dollar in international markets.
Impact
- Imports become more expensive.
- Inflation may increase.
- Exporters may benefit due to a weaker currency.
9. LNG Supply Concerns
India faced concerns over supply of Liquefied Natural Gas (LNG).
What is LNG?
LNG is natural gas cooled into liquid form for easier storage and transportation.
Why it matters
- LNG is used for:
- Electricity generation
- Industrial fuel
- Household gas supply.
Impact
Supply disruptions could lead to:
- Higher energy prices
- Power supply challenges.
10. Cyber breach in Karnataka education portal
A cyber security issue was reported in the education portal of Karnataka.
Key points
- Passwords and data of several schools were reportedly exposed.
- Authorities began investigating the incident.
Importance
- Highlights the need for stronger cyber security systems in government digital platforms.
11. National Science Day activities
Many universities celebrated National Science Day.
About National Science Day
- Celebrated on 28 February every year.
- Marks the discovery of the Raman Effect by C. V. Raman.
Activities included
- Science exhibitions
- Innovation competitions
- Public lectures on scientific research.
12. India launches franchise-based cycling league
India announced the world’s first franchise-based cycling league.
Announcement
The league logo was unveiled by Mansukh Mandaviya, India’s Sports Minister.
Objectives
- Promote professional cycling in India.
- Encourage youth participation in sports.
- Improve international competitiveness of Indian cyclists.
13. ICC Men’s T20 World Cup 2026
The 2026 ICC Men’s T20 World Cup is scheduled to be hosted jointly by India and Sri Lanka.
Key details
- Around 20 teams will participate.
- Approximately 55 matches will be played.
Significance
- Major global cricket tournament.
- Expected to boost tourism and sports economy in host countries.