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Daily Current Affairs – 5 January, 2026

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    US Strikes on Venezuela

    Context

  • The US strikes on Venezuela have brought to the forefront concerns over violations of international law, breach of national sovereignty & reinforcing perceptions of U.S. imperialism.

    • Probable Reasons for US Attack on Venezuela

  • Oil Reserves: Venezuela holds about 18% of the world's oil reserves, more than Saudi Arabia (around 16%), Russia (about 5-6%), or the United States (around 4%).
  • Venezuela alone has more crude oil reserves than the US and Russia combined.
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    India’s Emerging Concert Economy

    Context

  • The Ministry of Information and Broadcasting has established a Live Events Development Cell (LEDC) to facilitate the expansion of “concert economy”, boosting employment and tourism in the country.

    • What is the Live Events Development Cell (LEDC)?

  • The LEDC was constituted in July 2025 under the direction of the Union Minister for Information and Broadcasting.
  • It functions as a single-window facilitation mechanism to address regulatory, logistical, and coordination challenges faced by the live events industry.
  • The cell brings together representatives from the Central and State governments, industry associations, music rights societies, and major live event companies.
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    India Loses 0.4% of its GDP Every Year to Natural Disasters: Report

    Context

  • The Economic Outlook for Southeast Asia, China and India: Enhancing Disaster Risk Financing report 2025 was released recently.

    • About

  • It is a regular publication on Asia’s regional economic growth and development processes. 
  • Releasing Body: Organisation for Economic Co-operation and Development (OECD).
  • It focuses on the economic conditions of the Association of Southeast Asian Nations (ASEAN) member countries. 
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    India’s Silk Value Chain Projected To Double By 2030

    Context

  • Recently, the Central Silk Board has announced an ambitious plan to double India’s silk value chain, currently valued at ₹55,000 crore, to ₹1.1 lakh crore by 2030.

    • Central Silk Board (CSB)

  • It is a statutory body under the Union Ministry of Textiles, established by the Central Silk Board Act, 1948 (later amended as Central Silk Board (Amendment) Act, 2006).
  • It is responsible for formulating policies and implementing programs for the development of sericulture and silk industry.
  • It undertakes and supports scientific, technological, and economic research in sericulture, and oversees the production and supply of quality silkworm seeds and cocoons.
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    India’s Seafood Export Gets Boost

    In News

  • India’s marine products exports increased by 16% in terms of value and 12% in volume during the first seven months (April-October) of FY 2025-26 as compared to the corresponding period last fiscal.

    • India’s Position in Global Seafood Trade

  • According to the data, India’s seafood exports increased to $4.87 billion in April-October 2025 from $4.19 billion during the same period of 2024. 
  • The increase was driven by successful market diversification, with sharp export growth to countries such as Vietnam, Belgium, Malaysia, Germany, and China.
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    News In Short 05-01-2026

    Context

  • PM Modi commemorated 1,000 years since the first attack on the Somnath Temple in 1026 AD, describing the iconic shrine as a timeless symbol of India’s civilisational resilience and unbreakable spirit.

    • About Somnath Temple

  • Somnath is revered as the first of the twelve Jyotirlings of Lord Shiva, as mentioned in the Dwadasha Jyotirling Stotram.
  • The temple is located at Prabhas Patan on the western coast of Gujarat, a region historically associated with maritime trade, cultural exchange, and prosperity.
    • Read More
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