Current affairs 08 November 2023

Sweden’s Saab Secures India’s First 100% FDI in Defense Project.

• India has approved its first 100% foreign direct investment (FDI) in the defence sector, permitting Sweden's Saab to establish a facility for rocket manufacturing.
• The FDI proposal, valued at less than Rs 500 crore, was given the green light last month, according to an ET report.
• India currently allows up to 74% FDI in the defence sectorthrough the automatic route, with clearances beyond that available on a case-by-case basis.

Kerala honored with Global Responsible Tourism Award 2023.

• The Kerala Responsible Tourism Mission won the Global Responsible Tourism Award 2023 for promoting sustainable and women-inclusive initiatives.
• The award is instituted by the Responsible Tourism Partnership and International Centre for Responsible Tourism (ICRT) in the best for local sourcing, food, and craft category.
• This international award reflects the universal appeal of the Responsible Tourism projects that Kerala implemented.

IIT Kanpur’s Innovative Solution: "Artificial Rains" to Tackle Delhi’s Air.

• The Indian Institute of Technology (IIT) Kanpur has reportedly developed a potential solution to address the problem of air pollution in Delhi and its neighbouring regions.
• They propose the use of artificial rains through cloud seeding to help clear pollutants and dust from the air.
• The premier institute has been working on creating the necessary conditions for artificial rains for over five years and conducted successful trials in July.

Bharat Botanics To Open India’s Largest Cold Oil Production Facility.

• Bharat Botanics announced the opening of its wood-pressed cold oil processing facility in Gondal, Rajkot Gujarat.
• This 16,000 square feet automated facility is one of its kind, promoting 100% hygiene and transparency.
• At Bharat Botanics facility, seeds are crushed using traditional Wooden Ghani's with the cold-pressed technique, resulting in natural, chemical-free edible oils rich in healthy nutrients, natural flavor, and a scintillating aroma.

IndiaFirst Life Becomes the First Life Insurance Company to Obtain GIFT.

• IndiaFirst Life Insurance Company Ltd became the first Indian life insurance company to get the Gujarat International Finance Tec (GIFT) City’s International Financial Services Centre Registration.
• Aim: To enhance our market presence and capitalize on the customer outreach opportunities at a global level.
• Its foray into the hi-tech and ultra-modern financial ecosystem of GIFT City IFSC, will empower us to secure lives and create value for our international customers.