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| Jan 01, 1970 | Daily Report |
| RISING BHARAT | News Count (103021) | |
2851. India-Australia Economic Cooperation and Trade Agreement marks two years of success
- The India-Australia Economic Cooperation and Trade Agreement (Ind-Aus ECTA), implemented in December 2022, has completed two years of remarkable success, solidifying the economic partnership between the two nations.
- Bilateral merchandise trade has seen a substantial increase from USD 12.2 billion in 2020-21 to USD 26 billion in 2022-23. India’s exports to Australia continued to grow, recording a 14% increase during the period.
- Key sectors such as textiles, chemicals, and agriculture have seen substantial growth, with new export categories like gold studded with diamonds and turbojets highlighting the diversification enabled by the agreement.
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2852. Made-in-India Nissan Magnite facelift export to South Africa Begins
- Nissan India has begun exports of the facelifted Magnite to South African markets from its Chennai plant. Over 2,700 units of the new Magnite SUV have been shipped from the Chennai port within a month after its international launch in India.
- The facelifted model features minor cosmetic changes inside-out, additional features and added safety. The new Magnite is offered in six variants - Visia, Visia Plus, Acenta, N-Connecta, Tekna, and Tekna.
- In South Africa, the Magnite facelift is priced between R 246,200 to R 323,900 (which means about Rs 11.51 lakh to Rs 15.14 lakh at current exchange rates). This means the base-spec Magnite is almost Rs 5.6 lakh more expensive than the Indian spec models.
2853. India-US Geospatial Alliance targets for $10 billion trade in space technologies by 2030
- A significant milestone in the growing strategic relationship between India and the United States was marked at the 4th India-USA Space and Geospatial Business Summit, held on December 2, 2024 at the Hyderabad International Convention Centre.
- With bilateral trade in geospatial and space technologies projected to rise from $2.5 billion in 2024 to $10 billion by 2030, the summit emphasised how investments in technology, policy alignment and manufacturing could spur global progress.
- Rajeev Jyoti, Director (Technical), IN-SPACe, spotlighted the NASA-ISRO SAR (NISAR) Mission as an example of the synergy between India and the US. He pointed out that India’s National Geospatial Policy (2022) and Space Policy (2023) have catalysed the growth of geospatial and space industries in India.
2854. India Strengthens Gold Reserves, RBI Adds 8 Tonnes In November
- In November 2024, central banks globally added a total of 53 tonnes of gold to their reserves, with the Reserve Bank of India contributing 8 tonnes, according to a report by the World Gold Council (WGC) released on January 07, 2025.
- WGC further noted that the Reserve Bank of India (RBI) continued with its 2024 buying streak. This lifted the year-to-date buying to 73 tonnes and total gold holdings to 876 tonnes, maintaining its position as the second largest buyer in 2024, after Poland.
- The gold price dip in November, following the US election, may have provided some central banks with the added impetus to accumulate, WGC said.
2855. Bengaluru metro welcomes India's first indigenous driverless train for Yellow Line
- In a landmark moment for India’s metro rail development, Bengaluru Metro Rail Corporation Limited (BMRCL) received its first entirely Made-in-India driverless trainset for the Yellow Line on January 7, 2025.
- The train, built by Titagarh Rail Systems Ltd at its manufacturing facility in Uttarpara, West Bengal, is set to revolutionize urban mobility in the city.
- Titagarh plans to deliver two additional trainsets by April 2025 and ramp up production to supply two trains monthly by September.
2856. Defence Export Update: Philippine Army In Advanced Talks With India's BrahMos For Additional Coastal Missile Batteries
- The Philippine Army is in advance discussions with India's BrahMos Aerospace to procure additional coastal batteries of the BrahMos anti-ship missile under the Integrated Shore-Based Anti-Ship Missile System (ISBASMS) Acquisition Project, IDRW reported.
- The Philippines received its first batch of BrahMos missiles in April 2024 as part of a $375 million agreement signed in 2022. This delivery included missiles, mobile launchers mounted on Tatra 6x6 vehicles, and an Integrated Logistics Support (ILS) package.
- The BrahMos missile, capable of speeds up to Mach 2.8 and known for its precision, provides a critical defensive edge, enhancing deterrence along the Philippines' vulnerable coastal regions.
2857. First Indian startups selected for Indo-US defence programme: Investors
- Seven Indian privately-held startups have been chosen for a first-of-its-kind India-US space and defence collaboration programme, an investor who co-launched the project told Reuters on January, 17, 2025.
- The companies include space imaging company KaleidEO, rocket makers EtherealX and AI-driven company Shyam VNL. They will participate in a programme for defence and dual-use technology and explore opportunities to work with the US Defense Innovation Unit.
- That could give them an edge against the competition as they compete for US business in their niches worth about $1.5 billion annually, one of the sources said.
2858. Shaktipeeth Expressway: Route, districts covered, travel time, cost. Here's all about India's longest Nagpur-Goa highway
- Maharashtra will soon have a new expressway connecting Nagpur and Goa. The Nagpur-Goa Shaktipeeth Expressway, an 802-kilometer six-lane corridor, is set to revolutionize transportation between Nagpur and Goa.
- Developed by the Maharashtra State Road Development Corporation (MSRDC), the expressway will reduce travel time from 18-20 hours to just 8-10 hours. By enhancing connectivity across 12 districts, it aims to boost tourism, regional growth, and access to spiritual destinations.
- The expressway begins in Pavnar, Wardha district, and concludes at Patradevi on the Maharashtra-Goa border. It passes through 12 districts, including Wardha, Yavatmal, Hingoli, Nanded, Parbhani, and Sindhudurg.
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2859. Monthly passes soon for passenger vehicles on national highways, Nitin Gadkari makes big announcement
- Union Minister Nitin Gadkari on January 15, 2025 made a big announcement and said the Central government was considering the launch of monthly and yearly passes to collect toll for private vehicles plying on National Highways as they contribute for only 26 per cent of total collections.
- Gadkari stated that the Road Transport and Highways Ministry has planned to initially implement a barrier-less global navigation satellite system (GNSS)-based toll collection system on national highways as an added facility along with FASTag.
- Nitin Gadkari said the toll collection booths will be set up outside villages so that it does not disturb the movement of villagers and added that only 74 per cent of toll revenue comes from commercial vehicles.
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2860. Greenfield Expressway Updates: Centre Approves 6-Lane Corridor Connecting Ramnagar To Kachchi Dargah In Bihar
- The Ministry of Road Transport and Highways on January 19, 2025, gave approval for the construction of a six-lane Greenfield corridor between Ramnagar and Kachchi Dargah in Patna.
- In a post on X, Union Minister Nitin Gadkari announced that a total amount of Rs 1082.85 crore has been granted for the ambitious project.
- The six-lane greenfield corridor between Ramnagar and Kachchidargah is a part of the much-hyped Amas-Darbhanga Highway, which is set to give an economic boost to the state.
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