Swedish company and Adani to Make Jets in India
- Swedish defence and security company SAAB has signed a deal with Adani Group to collaborate and manufacture Gripen fighter jets in India.
- This will fetch billions of dollars as investments in India and it will certainly create job opportunities. But, only if this joint venture wins the government contract to build jets for Indian Air Force.
- The Indian Air Force needs at least 42 squadrons of fighters to protect its western and northern borders with Pakistan and China. By 2019 -2020 it will lose another 14 squadrons of the vintage MiG 21s and MiG 27s. There are 16-18 planes in one squadron.
- India is looking at procurement of more than 100 fighter jets in coming days. The procurement will be made under recently promulgated Strategic Partnership (SP) model of Defence Procurement Procedure (DPP).
- Apart from Gripen, United State’s F-16 also fulfills requirements of IAF. Manufacturer of F-16, Lockheed Martin has already announced its collaboration with TATA Advanced Systems Limited to manufacture F-16 in India.
India to hold free-trade talks with ETFA
- Once again India and EFTA all set to hold talks to conclude long pending Free Trade Agreement.
- Since 2008, after 16 rounds of talks India and European Free Trade Association resumed talks on the agreement in January 2017 after a gap of three years.
- EFTA established in 1960, it consists of four countries namely Iceland, Norway, Switzerland, and Liechtenstein. It is a free trade area as well as a regional trade organization. It was created by countries unwilling to become part of European Economic Community, later this EEC became the European Union.
- The India-EFTA bilateral trade was worth $19 billion in 2016-17 and $21.5 billion in 2015-16.
World Heritage City Status to Ahmedabad
- United Nations Educational, Scientific and Cultural Organization (UNESCO) has declared the 600 years old the Walled City of Ahmedabad as World Heritage City.
- Gujarat’s commercial capital Ahmedabad became India’s first World Heritage City. Other two in Asia are Bhaktapur (Nepal) and Galle (Sri Lanka). India now has total 36 World Heritage Inscriptions 28 cultural, 7 natural and 1 mixed site.
- It was established on the bank of Sabarmati River by Ahmed Shah of Gujrat Sultanate in the 15th century.
- In this walled city around four lakh, people are living in century old wooden residences.
Gist of Important News
Santosh Sharma has become Chairman and Managing Director of Hindustan Copper for a period of five years. The appointment was made by Ministry of Mines. He joined the Company as General Manager (Operations) in 2013 and later promoted to Executive Director (Operations).
A study has suggested the ancient global warming was caused by the massive volcanic eruption. The study was conducted by researchers from University of Southampton, UK. The eruption leads to huge carbon dioxide (CO2) emissions from volcanoes, all this happened during formation of North Atlantic Ocean.
European X-ray Free Electron Laser (XFEL) was unveiled in Hamburg, Germany. It is worlds biggest and powerful X-ray gun. With its help scientists can delve into working of atom, virus, and chemical reactions.
The prestigious literary award, the Saraswati Samman for 2016 was awarded to Konkani writer Mahabaleshwar Sail. He was awarded for his novel “Hawthan” that captures the lives of the potter community in Goa.