Current Affairs 16 May 2026

India prohibits sugar exports till September 2026.

• India prohibited sugar exports until 30 September 2026 to ensure domestic supply and stabilize prices.
• Export status changed from Restricted to Prohibited for raw, white, and refined sugar.
• Applies to ITC (HS) codes 1701 14 90 and 1701 99 90.
• Exemptions:
• Exports to EU and US under CXL/TRQ quotas.
• Exports under Advance Authorisation Scheme (AAS).
• Shipments for foreign countries’ food security needs.
• Consignments already in transit or registered before notification.
• If not extended after 30 September 2026, status will revert to Restricted.
• DGFT regulates foreign trade in India.
• ITC (HS) is the 8-digit coding system for classifying import-export goods.

India’s 1st Integrated CCUS Field Laboratory launched at IIT Bombay.

• India’s 1st Integrated CCUS Field Laboratory inaugurated at Indian Institute of Technology Bombay.
• CCU pilot facility can process up to 3 tonnes of CO₂ per day.
• Uses indigenous IIT Bombay-developed CO₂ capture technology.
• Converts captured CO₂ into industrial-use carbonate and bicarbonate salts.
• Includes India’s first pilot-scale CO₂ storage project in the Deccan Traps.
• Supports India’s Net-Zero 2070 target under the Panchamrit Strategy.

IMD AI-powered hyper-local weather forecasting systems.

• India Meteorological Department introduced two AI-enabled hyper-local weather forecasting systems.
• Developed jointly by IMD, Indian Institute of Tropical Meteorology, and National Centre for Medium Range Weather Forecasting.
• Monsoon forecasts will be provided up to 4 weeks in advance for 16 States and 3,000+ sub-districts.
• Uttar Pradesh pilot service provides rainfall forecasts at 1-km resolution up to 10 days ahead.
• India increased Doppler Weather Radars from 16 to around 50, with 50 more planned under Mission Mausam.
• Severe weather forecast accuracy improved by nearly 40% in the last decade.
• Cyclone prediction accuracy improved by 30–35% in the last five years.

IEPFA and Prasar Bharati sign an MoU to strengthen investor awareness campaigns in India.

• Investor Education and Protection Fund Authority signed an MoU with Prasar Bharati to boost investor awareness in India.
• Initiative operates under the Ministry of Corporate Affairs.
• Aim: Promote financial literacy and investor protection nationwide.
• Awareness messages to be broadcast on Doordarshan and regional TV channels.
• Focus on safe investing, fraud prevention, and reclaiming unclaimed dividends/shares.
• Promotes use of the IEPFA Search Facility and filing claims via Form IEPF-5.

India’s 1st mega greenfield shipyard MoU signed at Thoothukudi.

• Tripartite MoU signed to develop India’s first Mega Greenfield Shipyard at Thoothukudi.
• Signatories: HD Korea Shipbuilding & Offshore Engineering (HD KSOE), NSHIP-TN, and Sagarmala Finance Corporation Limited.
• Project under India–ROK VOYAGES framework.
• Shipyard planned capacity: 2.5 million Gross Tonnage (GT) annually.
• Expected to generate around 15,000 direct jobs.
• Aligns with Maritime Amrit Kaal Vision 2047 to make India a top global shipbuilding hub.