February 3, 2026 - Current Affairs

Transforming India into a Global Biopharma Hub

Context

Union Budget 2026–27 proposed the Biopharma SHAKTI with an outlay of Rs. 10,000 crores over five years, aimed at strengthening India’s ecosystem for production of biologics and biosimilars.

Biopharma

Biopharma, or biopharmaceuticals, refers to the part of the pharmaceutical industry that focuses on developing and manufacturing medicines using living biological systems, rather than relying solely on chemical synthesis.

Biopharma medicines are produced through biological organisms, such as human cells, fungi, or microbes.

Some examples of biopharmaceuticals include vaccines, antibody treatments, gene therapies, cell implants, modern insulin, and recombinant protein drugs.

India–US Signed Trade Agreement

In News

India and the United States have announced a new trade deal, lowering tariffs and setting ambitious targets for bilateral trade.

About the India–US Trade Deal

Tariff reduction: US reciprocal tariffs on Indian goods reduced from 25% to 18%, effective immediately.

Additional 25% duty withdrawn, which had earlier been imposed.

US claims on broader commitments: The US asserts the deal includes zero tariffs and non‑tariff barriers for US goods and that India committed to buy over $500 billion of US products across energy, tech, agriculture, coal, etc.

DAY NRLM: Next Phase of Rural Women’s Empowerment

Context

The Deendayal Antyodaya Yojana–National Rural Livelihoods Mission (DAY NRLM) is transitioning into a new phase, often referred to as NRLM 2.0, and prepares for the next five-year cycle (2026–27 to 2030–31).

About DAY NRLM

It is a flagship poverty alleviation and women empowerment programme, launched in 2011 by the Union Ministry of Rural Development.

It aims to reduce rural poverty by enabling poor households, especially women to access sustainable livelihoods through strong, community-based institutions.

2026 Delhi Declaration

Context

India hosted 22 members of the League of Arab States (AL) for the second India-Arab Foreign Ministers Meeting, 10 years after the first iteration in Bahrain.

About

This meeting occurred amid escalating tensions between Iran and the US, a growing rift between Saudi Arabia and UAE, and the US led Board of Peace attempting a new approach to resolving the Israel-Palestine question.

In a joint statement called the Delhi Declaration, India and the Arab League clarified their positions on a number of issues, apart from commitments to enhance cooperation.

3rd India-Arab Ministerial Meeting of the Forum is to be held in 2028 in one of the Arab States.

Budget 2026: Govt Backs Orange Economy

In News

The Union Budget 2026–27, presented by the Finance Minister, placed India’s creative industries at the centre of a services-led growth strategy, marking a clear policy push towards the Orange Economy.

What is the Orange Economy?

The Orange Economy, also known as the Creative Economy is a knowledge-based sector where the value of products and services is derived from ideas, cultural capital, and intellectual property (IP) rather than physical goods.

The term was coined by Iván Duque Márquez (former Colombian President) and Felipe Buitrago in their 2013 book, The Orange Economy: An Infinite Opportunity.

The color orange was chosen because it is historically associated with culture, creativity, and identity across diverse civilizations.

News In Short 03-02-2026

In News

Over 7.5 lakh manuscripts have been digitized under Gyan Bharatam, of which 1.29 lakh manuscripts are accessible on the Gyan Bharatam Portal.

Gyan Bharatam

It was announced during Union Budget 2025-26, is a flagship initiative of the Ministry of Culture (MoC), Government of India.

It is aimed at unearthing, safeguarding and preserving India’s vast manuscript heritage.

It is aligned with the national vision of Viksit Bharat 2047 and seeks to harmonize cultural preservation with human capital development, ensuring that India’s ancient wisdom continues to inspire generations to come.