NEWS 23-06-2022. News for 24th-Jun (Friday) SUMMARY OF MAY : International News 1. Leaders of QUAD nations from America, Japan, Australia & India held their meeting, at Tokyo on May 24 2022. 2. External Affairs Minister Dr. S Jaishankar visited Bangladesh & Bhutan. This visit is a part of India's "Neighborhood First Policy". Also, this could mean opening of the India Bangladesh Maitri Pipeline for the movement of goods through Chittagong port of Bangladesh. 3. India’s trade deficit with China hit a record $77 billion from April 2021 to March 2022. Data showed that India’s exports to China stood at $26.46 billion while its imports from China stood at $103.47 for this period. 4. PM Narendra Modi visited Germany, France & Denmark on a 3 day visit to boost bilateral trade and discuss issues of bilateral intrest. While at Denmark, he also held meetings with Head of states of Nordic countries. 5. Finland and Sweden have submitted their application to join NATO. The 2022 Russian invasion of Ukraine has prompted them to join NATO and seek its safety net. 6. Foreign direct investment (FDI) inflow into India has touched $ 83.57 bn in the financial year 2021-22 as compared to $ 81.97 bn in 2020-21. In 14-15, it stood at only $ 45.15 bn. 7. Israel's company Watergen has announced a joint venture with India's Jaipuria Group for producing water- from- air, with an investment of over Rs 387 crore. 8. Bharat Heavy Electricals Ltd (BHEL) has won an order for compressor package from Iraq. It is a major victory for India as it has won this deal from giants like China & Germany. National News 1. India's exports stood at a record $417.8 billion last Yr. This translates to a rough $48 million worth of exports every hour. 2. The GST revenue collection is rising steadily. For the month of April 2022, it was the highest ever at Rs 1.68 lakh crore. 3. The govt of India has banned the export of wheat due to the sudden spike in prices of wheat. 4. Indian govt is set to make Jammu & Kashmir a sports hub by building World class infrastructure. 5. PM Modi recently visited Nepal, where both countries agreed to build a 695 MW hydroelectric power plant in Nepal. 6. Indian Railways has joined hands with IIT Madras for the development of ‘indigenous’ Hyperloop' system. 7. India is projected to grow by 6.4 per cent in 2022 & yet be the fastest-growing major economy in the world. Global economy is also down from 4.0% growth, to only 3.1% in 2022. Defence News 1. The World Directory of Modern Military Aircraft (WDMMA), has ranked the IAF third in the Global Air Powers Rankings for 2022. 2. India is developing world's lightest bulletproof vest. It is to be tested by DRDO by Aug 2022. 3. World military spending continued to grow in 2021, reaching an all-time high of $2.1 trillion. The five largest spenders in 2021 were the United States, China, India, the UK & Russia. India's military spending of $76.6 billion is ranked 3rd highest in the world. 4. Lt Gen BS Raju has taken over as the Vice Chief of the Army Staff, replacing Lt Gen Manoj Pande, who became the Army Chief after the retirement of Gen M M Naravane. Sports News 1. The Indian men's badminton team created history by winning the Thomas Cup, for the first time ever. India won the final 3-0 against defending champions Indonesia. < < Back