Current affairs 12 July 2023

India poised to become world’s 2nd-largest economy by 2075: Goldman Sachs.

• According to the Investment Bank Goldman Sachs, India is poised to become the world’s second-largest economy by 2075.
• As per the report, India would cross Japan, Germany, and the US With a population of 1.4 billion people.
• India’s GDP is estimated to expand remarkably, reaching 52.5 trillion dollars surpassing the US GDP projection.
• The labour force participation set to make India the second-largest economy in the world by 2075.

India overtakes China as most attractive emerging market for investing.

• According to a study by Invesco Global Sovereign Asset Management, India has overtaken China to become the most attractive emerging market for investing in sovereign wealth funds this year.
• Reason: This is due to its solid demographics, political stability, and proactive regulation
• Positives for the nation also include the rapidly expanding demography, strong regulatory actions, and a welcoming climate for sovereign investors.

PM Narendra Modi to be awarded prestigious Lokmanya Tilak Award 2023.

• The Tilak Smarak Mandir Trust (Hind Swaraj Sangh) would confer the prestigious Lokmanya Tilak National Award 2023 to Prime Minister Narendra Modi in Pune on August 1, 2023.
• Reason: This award recognizes PM Modi's supreme leadership under which India has climbed the ladder of progress
• It is presented annually on the occasion of Lokmanya Tilak's death anniversary.
• Other awardees: Indira Gandhi, Atal Bihari Vajpayee, Sharad Pawar, Cyrus Poonawalla, and Manmohan Singh

J&K Bank wins award for Best Performance in CASA.

• Jammu & Kashmir Bank has been felicitated for the Best Performance in CASA-India (1st Runner up in Small Bank Category) at ICC Emerging Asia Banking Conclave & Awards 2022.
• The event was participated by banks from India, Nepal, Bhutan, Bangladesh, Sri Lanka & Myanmar.
• The function was organized by the Indian Chamber of Commerce in Goa.
• Indian Chamber of Commerce (ICC) is a non-governmental trade association and advocacy group headquartered in Calcutta.

India-US launched "Operation Broader Sword".

• India and the USA, jointly conducted an Operation Broader Sword to stop the illegal shipment of drugs through the International Mail System.
• It targeted shipments of illicit, potentially dangerous, unapproved prescription drugs, combination medical devices, and synthetic drug precursors shipped through International Mail Facilities.
• The operation resulted in the interception of over 500 shipments of illicit and unapproved prescription drugs bound for US consumers.