World Audio Visual and Entertainment Summit (WAVES), 2025 The inaugural WAVES Summit 2025 in Mumbai highlighted India’s creative economy as a key driver for future GDP growth, innovation, and inclusive development. The Prime Minister announced the Indian Institute of Creative Technology (IICT), a new National Centre of Excellence to upskill youth in media, animation, gaming, and content creation, with support from FICCI and CII. WAVES aims to unlock a $50 billion market by 2029, expanding India’s global entertainment footprint. The creative economy, encompassing industries like film, music, design, and digital content, now contributes about $30 billion to India’s GDP and employs 8% of the workforce. Exports have surpassed $11 billion annually. India’s demographic dividend, robust digital infrastructure, and rich cultural heritage provide a strong foundation, though challenges remain in IP enforcement, industry fragmentation, skill gaps, and rural inclusion. Initiatives like the National Creators Award, a $1 billion Creator Economy Fund, and schemes for handicrafts and art promotion are being implemented to boost the sector125. Supreme Court Flags Concerns Over Free Ration Distribution The Supreme Court of India has raised concerns about the sustainability of the free ration distribution system, questioning its long-term economic impact. The Court noted that while states procure food grains from the Centre and distribute them for free, the financial burden ultimately falls on taxpayers. It questioned if India still faces the same poverty levels as in 2011 and stressed that free ration distribution alone cannot solve poverty. The Court urged policymakers to focus on job creation and infrastructure development, warning that excessive reliance on freebies could discourage employment. The Public Distribution System (PDS) and schemes like PMGKAY ensure food security for millions, but the Court advocated for targeted welfare, diversification of food baskets, and strengthening employment initiatives to reduce welfare dependency and ensure fiscal responsibility14. UN Pushes for Reforms in Three Key Areas to Meet SDGs UN Secretary-General Antonio Guterres has called for urgent reforms in debt management, international financial institutions, and finance diversification to achieve the Sustainable Development Goals (SDGs) by 2030. With developing nations spending over $1.4 trillion annually on debt servicing, the UN emphasized accelerating the G20’s Common Framework for Debt Treatments, reforming credit rating methodologies, and updating IMF/World Bank debt assessments. Multilateral Development Banks must be recapitalized and mobilize private finance for development. Countries are urged to strengthen domestic resource mobilization, increase blended finance, and combat corruption. Developed countries must honor aid commitments, and global platforms like COP30 will explore innovative climate finance solutions to mobilize $1.3 trillion annually by 20351. Sun’s Subsurface Weather Tied to Its 11-Year Activity Cycle A breakthrough study led by the Indian Institute of Astrophysics has mapped the Sun’s subsurface plasma currents, revealing their synchronization with the 11-year solar activity cycle. Using helioseismology, scientists traced plasma flows in the near-surface shear layer (NSSL), about 35,000 km deep, finding that surface flows converge toward sunspot latitudes, then reverse direction midway, forming circulation cells influenced by the Sun’s rotation and Coriolis force. These findings advance understanding of solar dynamics and may improve space weather prediction, crucial for safeguarding satellites, power grids, and communications on Earth. The research also underscores the need to probe deeper solar flows, which remain a mystery136. World’s Largest Fusion Project Reaches Milestone With India’s Help Scientists have completed the main magnet system for ITER (International Thermonuclear Experimental Reactor) in France, with India playing a key role in building critical infrastructure. ITER, the world’s largest tokamak, aims to demonstrate nuclear fusion as a safe, carbon-free energy source. Over 30 countries are collaborating; Europe covers 45% of the cost, while India, China, Japan, South Korea, Russia, and the US each contribute about 9%. ITER will produce 500 MW of energy from 50 MW input, creating a self-sustaining “burning plasma” state. While it won’t generate electricity, ITER will provide vital research for future commercial fusion plants. India’s contributions include advanced components, strengthening its position in global scientific collaboration1. Veerashaiva-Lingayats The Veerashaiva-Lingayat community, prominent in Karnataka and Maharashtra, is known for its distinct religious identity and social influence. The community follows the teachings of Basavanna and emphasizes social equality, devotion to Shiva, and rejection of caste hierarchy. Recent debates have centered on their classification-whether as a Hindu sect or a separate religion-which impacts reservation and minority status policies. Adi Shankaracharya Adi Shankaracharya was an 8th-century philosopher and theologian who consolidated the doctrine of Advaita Vedanta. He established four mathas (monastic centers) across India and played a pivotal role in unifying Hinduism by synthesizing its diverse philosophical traditions. His teachings emphasized non-dualism (Advaita), asserting that the individual soul (Atman) and the universal soul (Brahman) are one. Vikramaditya I Dated Inscription Found in Davangere A recently discovered inscription in Davangere, Karnataka, dates back to the reign of Chalukya king Vikramaditya I (7th century CE). The inscription provides valuable insights into the political and cultural history of the region, highlighting land grants, temple patronage, and the administrative structure of the Chalukya dynasty. Lakkundi Temples Lakkundi, in Karnataka, is renowned for its cluster of ancient temples built in the Kalyana Chalukya style. The temples are noted for their intricate stone carvings, stepped wells (kalyanis), and historical inscriptions. Lakkundi was a major center for Jainism and Shaivism, reflecting the region’s religious diversity and architectural innovation. Vizhinjam International Seaport Vizhinjam International Seaport, located near Thiruvananthapuram, Kerala, is a deep-water, all-weather port being developed to handle large container ships. The project aims to position India as a major transshipment hub, reduce dependence on foreign ports, and boost regional economic growth. The port’s strategic location on the international shipping route offers significant logistical advantages National Security Advisory Board (NSAB) The National Security Advisory Board (NSAB) is a key advisory body to India’s National Security Council, comprising experts from strategic, security, and foreign policy domains. The NSAB provides recommendations on national security issues, including defense, internal security, and foreign policy, helping shape India’s strategic direction. Dhruv Helicopter The Dhruv is an indigenously developed multi-role helicopter by Hindustan Aeronautics Limited (HAL). It serves the Indian Armed Forces in […]
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