National News

1. India Strategic Move: Unlocking 20 Critical Mineral Blocks for Economic and Energy Transition

• In a significant stride towards achieving its energy transition goals, the Indian government is poised to open bids for 20 critical mineral blocks, including lithium and graphite, within the next fortnight.
• This progressive step is aligned with India's commitment to ensuring domestic resources for the green energy transition and bolstering national security.
• India reached a groundbreaking milestone in February with the discovery of its first lithium deposits in Jammu and Kashmir, estimating reserves at a substantial 9 million tonnes.
• The subsequent modification of mining rules in July allowed private miners to explore these critical minerals.
• Reports indicate that Jammu and Kashmir are gearing up to auction its lithium reserves in the coming months, marking a pivotal move in the nation's strategic resource management.

2. Prime Minister Narendra Modi’s Landmark Visit to Jharkhand

• Prime Minister Narendra Modi is set to create history by being the first Prime Minister to visit Ulihatu Village, the birthplace of Bhagwan Birsa Munda.
• This momentous visit, scheduled for November 15th, will witness the Prime Minister paying homage at the Bhagwan Birsa Munda Memorial Park cum Freedom Fighter Museum in Ranchi.Timed with Janjatiya Gaurav Diwas, PM Modi will launch the ‘Viksit Bharat Sankalp Yatra.’
• This initiative underscores the Prime Minister’s commitment to ensuring the saturation of flagship government schemes, reaching every targeted beneficiary promptly.
• The Yatra aims to raise awareness and directly deliver the benefits of various welfare schemes to the people.

International News

3. Unprecedented Seismic Activity in Iceland Raises Concerns

• The Iceland Met Office has issued a stark warning of a “considerable” likelihood of a volcanic eruption in the coming days, following a series of seismic events that have rattled the country.
• This seismic activity has prompted the declaration of a state of emergency in Iceland.
• On November 10, Iceland experienced an extraordinary swarm of earthquakes, with a staggering 800 quakes hitting the southwestern Reykjanes peninsula in less than 14 hours.
• Over the preceding 24 hours, a total of 1,400 earthquakes were recorded, adding to the already alarming tally of 24,000 seismic events since late October.
• The most potent quake, measuring 5.2 in magnitude, struck approximately 40 km from Reykjavík, the capital of Iceland.

Defence News

4. Rajnath SinghParticipation in 10th ASEAN Defence Ministers’ Meeting-Plus in Jakarta

• Defence Minister Rajnath Singh is set to attend the 10th ASEAN Defence Ministers’ Meeting-Plus (ADMM Plus) in Jakarta, Indonesia, spanning from November 16th to November 17th.
• As announced by the Ministry of Defence, Singh will engage in bilateral meetings with the Defence Ministers of the participating countries, focusing on various aspects of defence cooperation.

Economy News

5. India Wholesale Price Index (WPI) Records Seventh Consecutive Month of Deflation in October

• India’s Wholesale Price Index (WPI)-based inflation rate continued its downward trend, reaching a three-month low of -0.52% in October.
• This marks the seventh consecutive month of deflation, with various factors contributing to the sustained negative trajectory.
• The persistent deflation in factory gate prices can be attributed to the high base effect and declines in the prices of several key sectors.
• Notably, chemicals, chemical products, electricity, textiles, basic metals, food products, and paper and paper products have experienced reductions in prices compared to the same period in the previous year.

6. Goldman Sachs Adjusts Ratings In Asian Markets: Upgrades India, Downgrades China

• Goldman Sachs Group Inc. has recently made significant adjustments to its ratings in Asian markets.
• The bank has lowered its rating on Hong Kong-listed Chinese companies, citing concerns over low earnings growth and the potential for a consensus downgrade.
• Simultaneously, Goldman Sachs has upgraded its rating on Indian equities, citing the market’s strategic appeal.
• The bank anticipates that India will experience the best structural growth prospects in the region, with mid-teens earnings growth expected over the next two years.

7. Morgan Stanley Forecasts Robust 6.5% Growth For India’s Economy In FY24 And FY25

• In its recently released “2024 India Economics Outlook,” Morgan Stanley Research predicts India’s economy hovering around 5% for both FY2024 and FY2025.
• The research emphasizes that domestic demand, supported by robust factors, will play a crucial role in sustaining India’s growth trajectory.
• Moody’s Investor Service maintains India’s growth at 6.7% for 2023, applauding the country’s resilience.

8. Retail Inflation Drops To 4-Month Low Of 4.87% In October

• India retail inflation, as measured by the Consumer Price Index (CPI), witnessed a 4-month low in October, settling at 4.87%.
• A combination of a supportive economic base and moderation in non-food prices contributed to this decline from September’s 5.02%.
• This decline in consumer inflation, which is now below the Reserve Bank of India’s (RBI) upper limit of 6%, provides some breathing room for policymakers.

Obituaries

9. Subrata Roy, Visionary Founder of Sahara Group, Passes Away at 75

• Sahara Group's visionary founder and chairman, Subrata Roy, bid farewell at the age of 75 in a Mumbai hospital after a prolonged illness, as officially announced by the company.
• Born in Bihar's Araria in 1948, Subrata Roy initiated Sahara India Pariwar in 1978 with a mere capital of ₹2,000.
• The company's evolution positioned it as an entrepreneurial leader, a testament highlighted on Sahara's website.

Sports News

10. Virat Kohli Sets New Record with 50 ODI Centuries, Surpassing Sachin Tendulkar

• In a historic moment at the ongoing ICC Men's Cricket World Cup, Indian cricket captain Virat Kohli achieved a remarkable feat by becoming the first batter to score 50 One Day International (ODI) centuries.
• This surpasses the iconic Sachin Tendulkar's record of 49 centuries, solidifying Kohli's position as the leading century-scorer in ODI cricket.

Business News

11. Jio and OneWeb Secure Licenses for Satellite Internet Services

• The Department of Telecom (DoT) has granted Internet Service Provider (ISP) licenses to Jio Satellite Communications and OneWeb.
• These licenses empower both entities to seamlessly integrate satellite capabilities with terrestrial networks, utilizing Very Small Aperture Terminal (VSAT) technology to establish direct connections with end consumers.
• This move reflects a commitment to bridging the digital divide and expanding internet access to previously underserved regions.

12. Asia-Pacific Airlines Aim for 5% Green Fuel Usage by 2030

• The Association of Asia-Pacific Airlines (AAPA), including newly inducted Air India, targets a 5% sustainable aviation fuel (SAF) usage by 2030.
• Stressing a feedstock and pathway agnostic approach, the AAPA aligns with India's plans to mandate 1% SAF use by domestic carriers by 2025.
• The civil aviation ministry further outlines increasing the blending of sustainable aviation fuel to 2% by 2026 and 5% by 2030.

Summits & Conferences News

13. 6th India-OPEC Energy Dialogue High-Level Meeting in Vienna, Austria

• The 6th High-Level Meeting of the India-OPEC Energy Dialogue occurred on November 9, 2023, at the OPEC Secretariat in Vienna, Austria.
• Emphasizing availability, affordability, and sustainability, the discussions centered around crucial issues related to oil and energy markets.

14. 42nd India International Trade Fair 2023 Inauguration in New Delhi

• The 42nd edition of the India International Trade Fair (IITF) 2023 commenced at Pragati Maidan in New Delhi.
• Inaugurated by Anupriya Patel, the Union Minister of State for Commerce and Industry, the fourteen-day fair focuses on the theme "Vasudhaiva Kutumbakam," highlighting interconnectedness and collaborative efforts for sustainable growth.
• Partner States Bihar and Kerala, along with Focus States Delhi, Jammu and Kashmir, Jharkhand, Maharashtra, and Uttar Pradesh contribute to the diverse array of exhibitors and offerings.