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Daily Current Affairs – 28 July, 2025

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DCA 28 July 2025

    Australia- UK Sign 50-Year Geelong Treaty Under AUKUS 

    Context

  • Australia and the UK signed the bilateral Nuclear-Powered Submarine Partnership and Collaboration Treaty (the Geelong Treaty) in Geelong, Australia, solidifying their commitment to the AUKUS defense pact.

    • About Geelong Treaty

  • The Geelong Treaty is a historic agreement that commits the UK and Australia to 50 years of bilateral defense cooperation under AUKUS Pillar I.
  • The Treaty will enable comprehensive cooperation on the design, build, operation, sustainment, and disposal of their SSN-AUKUS submarines.
  • The signing of the treaty came as the United States wavered on its role in the AUKUS alliance.
  • It has announced a review of the trilateral security partnership to determine whether the agreement aligns with the America First agenda.
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    Textile Sector in India

    Context

  • PM Modi in his Mann Ki Baat program, remarked that the textile sector has become a major strength of the country.

    • Overview of India's Textile Industry

  • Contribution: The textile and apparel industry contributes 2.3% to our GDP, 13% to industrial production, and 12% to exports. 
  • Export Basket: India exported textile items worth US$ 34.4 billion in 2023-24, with apparel constituting 42%, followed by raw materials/semi-finished materials at 34% and finished non-apparel goods at 30%. 
  • Employment: It is the second largest employment generator, after agriculture, with over 45 million people employed directly.
  • Nearly 80% of its capacity is spread across Micro, Small and Medium Enterprises (MSME) clusters in the country.
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    Boost to India’s Seafood Exports to the UK after CETA

    Context

  • The Comprehensive Economic and Trade Agreement (CETA) between India and UK removes import tariffs on a wide range of seafood products, enhancing Indian exporters' competitiveness in the UK market.

    • India’s Seafood Industry

  • India is the third-largest fish and aquaculture-producing country.
  • It accounts for 8% of the total global fish production.
  • India mainly has eight major fish-producing states: Andhra Pradesh, Gujarat, Karnataka, Kerala, Maharashtra, Odisha, Tamil Nadu, and West Bengal.
  • India’s total seafood exports in 2024–25 reached $7.38 billion, amounting to 1.78 million metric tonnes.
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    India’s  preparation  against Glacial Lake Outburst Flood (GLOF) events

    In News

  • Recently ,Nepal faced a severe Glacial Lake Outburst Flood (GLOF) on July 8, causing flash floods along the Lende river, destroying a China-built bridge and disabling hydro plants that supplied 8% of Nepal’s power. 

    • What is Glacial Lake Outburst Flood (GLOF)?

  • It is the sudden, catastrophic release of water from a glacier-formed lake, often dammed by ice, debris, or bedrock. 
  • They produce extreme peak discharges, far exceeding normal flood levels, and can trigger destructive debris flows due to their high erosion and transport power.
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    India’s Insurance Sector Set to More Than Double by 2030: IBAI-McKinsey Report

    Context

  • Recently, a joint report by the Insurance Brokers Association of India (IBAI) and McKinsey & Company outlined that India's insurance industry is projected to surge by 123% by 2030 — from ₹11.2 lakh crore in 2024.

    • Policy Support for India’s Insurance Sector

  • IRDAI’s Vision 2047: The Insurance Regulatory and Development Authority of India (IRDAI) is driving reforms to bridge protection gaps and simplify access to insurance.
  • Legislative Support: Key acts include the Insurance Act (1938), IRDA Act (1999), and amendments allowing greater foreign investment and operational flexibility.
  • Bima Vistaar Scheme: A proposed all-in-one bundled policy covering life, health, accident, and property risks — designed for quick payouts and ease of use.
  • Bima Sugam Platform: A digital one-stop shop for buying policies and settling claims, with plans to link state death registries for faster life insurance settlements.
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    NASA-ISRO NISAR Satellite

    Context

  • The Indian Space Research Organisation (ISRO) is set to launch the NISAR satellite from Sriharikota on July 30 onboard a GSLV Mk-II rocket.

    • NISAR Satellite

  • NISAR is an Earth-observation satellite that stands for NASA-ISRO Synthetic Aperture Radar.
  • It is Jointly developed by the National Aeronautics and Space Administration (NASA) and the Indian Space Research Organisation under a partnership agreement signed in 2014.
  • It will be launched into a polar Sun-synchronous dawn-dusk orbit at 747 km altitude and an inclination of 98.4º.
  • NISAR is the first satellite mission to collect radar data in two microwave bandwidth regions, called the L-band and the S-band.
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    News In Short 28-07-2025

    Context

  • The 14th edition of India–Singapore Joint Military Exercise, Bold Kurukshetra 2025, commenced in Jodhpur, India.

    • About the Exercise

  • First held in 2005, Exercise Bold Kurukshetra is a Table Top Exercise and Computer-Based Wargame focused on validating mechanised warfare procedures.
  • It aims to boost interoperability and joint training under a United Nations mandate, reinforcing India–Singapore defence cooperation.
    • Read More
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