The Insurance Regulatory and Development Authority of India (IRDAI) has unveiled a comprehensive plan to expand insurance coverage and bridge the protection gaps in the country. This blueprint aims to provide an all-in-one insurance policy called ‘Bima Vistaar‘ to households, offering expedited financial support during medical emergencies, accidents, thefts, or family deaths. The regulator acknowledges… Continue reading Universal Insurance Cover in India

The Indian Space Research Organisation (ISRO) has launched the first of the 2nd-generation satellites for its navigation constellation – NavIC (Navigation with Indian Constellation). The 2,232 kg satellite, the heaviest in the constellation, has been launched by a Geosynchronous Satellite Launch Vehicle (GSLV) rocket.   About NavIC – NavIC, also known as the Indian Regional… Continue reading Second generation of NavIC satellite

Union Earth Sciences Minister Kiren Rijiju announced that India will unveil its new 18 petaFLOP supercomputer for weather forecasting institutes later this year. The minister made this announcement after a visit to the ministry’s National Centre for Medium Range Weather Forecasting (NCMRWF) in Noida.   Details – India is going to launch its brand new… Continue reading FLOPs in Supercomputing

The G20 countries, with a population of 4.7 billion, have large exposure, risk from asset concentration, and vulnerability to natural disasters. In the current World Risk Index, four out of the top 10 vulnerable countries are G20 nations.   Importance of Disaster Risk Reduction (DRR) Mechanisms – To Prevent Huge Losses — The combined estimated… Continue reading Showing the way on disaster management

The G7 leaders recently reaffirmed their support for Ukraine and intensified sanctions against Russia while seeking to address differences on dealing with China. The growing alignment between Russia and China indicates a shift towards a bipolar framework, raising questions about India’s discourse on a multipolar world.    Different interpretations of Multipolar World – Rhetoric against… Continue reading India at G7 – the myth of multipolarity

India’s engagement with the Pacific Island Nations holds geopolitical, geostrategic, and economic importance. Prime Minister Modi’s visit to Papua New Guinea during the 3rd FIPIC summit showcased the growing strategic significance of the region. However, the Pacific Island Nations also face various challenges, including geographical disadvantage, climate change impacts, socio-economic challenges, and security and governance-related… Continue reading Third FIPIC Summit

To facilitate cooperation related to developments in critical and emerging technologies including biotechnology, The Quad set up a critical and emerging technology working group in 2021. The establishment of a Quad-led biomanufacturing hub in India will enhance this cooperation.   What is Bio-Manufacturing? Biomanufacturing uses living systems, particularly microorganisms and cell cultures, to produce molecules… Continue reading India as a biomanufacturing hub

The government recently announced that foreign payments through credit cards will be brought within the purview of Liberalised Remittance Scheme (LRS). This invited criticism from the industry and individual taxpayers and the announcement was termed as “Tax Perversion”, “Tax Terrorism”, “A Broken-Down Tax Assessment System”, etc.   Existing mechanism – The usage of an international credit… Continue reading Tax on international credit card transactions is fair

To realise the vision of building a self-reliant technology base, the National Quantum Mission could be a game changer. However, like any other technology, quantum technology will also need material innovation – R&D in “Quantum Materials.”   About the National Quantum Mission (NQM) – India is the sixth country to have a dedicated quantum mission after the US,… Continue reading National Quantum Mission

European Parliament has cleared the draft of Artificial Intelligence (AI) Law.   Highlights of the Proposed AI Act – The proposed AI Act will set standards for how AI is deployed within the European Union (EU), and will also apply to any entity that serves EU residents. The AI Act will classify AI systems according… Continue reading Regulation of AI