National Stock Exchange of India Indices launches India’s first Electric Vehicle (EV) index i.e. Nifty EV & New Age Automotive Index.

About Index

• It aims to track the performance of companies which form a part of EV ecosystem or are involved in development of new age automotive vehicles or related technology.
• Index has a base date of April 02, 2018 and a base value of 1000.
• Stocks forming a part of the Nifty 500 are eligible to be a part of the index.
• Index will be reconstituted semi-annually and rebalanced on a quarterly basis.

According to RBI, Gross FDI declined marginally to USD 71 billion in 2023-24 from USD 71.4 billion in 2022-23.

• Net FDI (i.e., net inward FDI minus net outward FDI) flows fell to US$ 10.6 billion during 2023-24 from US$ 28.0 billion in 2022-23. 
• Singapore, followed by Mauritius and USA, is the largest source of FDI for India. 
• Highest FDI inflows are in manufacturing sector, followed by Electricity and Computer Services.

About FDI

• It means investment through capital instruments by a person resident outside India in an unlisted Indian company or in 10% or more of post issue paid-up equity capital of a listed Indian company.

Indian Air Force took part in Red Flag Exercise in Alaska, USA.

About Red Flag Exercise 

• It is a multi-national air combat exercise designed to create a comprehensive learning environment by simulating realistic combat scenarios. 
• Two distinct Red Flag exercise locations in USA i.e. Nellis Air Force Base in Nevada and Eielson Air Force Base in Alaska.
• Nevada exercise is organized by US Air Force Warfare Center, while Alaska exercise is managed by Pacific Air Forces (air component command of US Indo-Pacific Command).

Inaugural edition of Kavango-Zambezi (KAZA) Trans-Frontier Conservation Area (TFCA) Summit is being held in Zambia.

About KAZA TFCA

• Formally established in 2011.
• It lies in the Kavango and Zambezi river basins where Angola, Botswana, Namibia, Zambia, and Zimbabwe converge.
• Okavango Delta (world’s largest inland delta) and Victoria falls (a World Heritage Site and one of the seven natural wonders of the world) lie within the region.

Marine Protected Areas designated to protect Diadromous fish species did not align with their core habitats.

Diadromous Fish

• These species undergo regular migration between saltwater and freshwater environments. Example: Bull Shark, etc.
• They provide important ecosystem services by transporting energy and marine-derived nutrients between freshwater and ocean environments. 
• They are a species group that includes both anadromous and catadromous fish.
  • Anadromous fish: Live most of their lives in saltwater but breed in freshwater. Example: Chinook salmon etc. 
  • Catadromous fish: Live most of its life in freshwater but breed in saltwater. Example: North American eel etc.
• Threats: Habitat destruction, barriers to migration (e.g. Dams) etc.

According to new study, climate change threatens Rhinoceros (Rhinos) with extinction as they are vulnerable to increased heating due to: 

• Lack of high surface area to dissipate heat.
• Lack of ability to sweat as they lack sweat glands. 

About Rhinos

• There are 5 species of Rhinos: Sumatran rhino, Javan rhino, Black rhino, Greater one-horned rhino (found in India), White rhino.
• Rhinos are ‘keystone species’ – mega-herbivores that help shape entire ecosystems by:
  • Geo-forming - reshaping land such as creating natural waterholes.
  • Spreading nutrients, seeds and increasing plant biodiversity.

National Skill Development Corporation (NSDC) and International Labour Organization announced a strategic partnership to advance skill development and lifelong learning in India.

• A key aspect of partnership is implementation of Skill India Digital Hub (SIDH). 

About SIDH

• Unified digital platform, developed by Ministry of Skill Development and Entrepreneurship, to skill, reskill and upskill Indian individuals through an online training platform.
• It has a three-layered framework:
  • Trust Layer: Enable verifiable digital skill credentials.
  • Finance/Payment Layer: Enable payment services like direct beneficiary transfer, rewards, scholarships etc.
  • Discovery Layer: Facilitate commerce and enable innovation and entrepreneurship.

Traditional craft Bela Block printing is in danger of dying out with no young takers for it.

About Bela Block Printing

• It is a traditional textile art form that showcases bold and precise designs on textured fabrics.
• It is known for its striking colour combinations and graphic motifs.
• Kachchh in Gujarat remains a significant producer of Bela-style cloth.
• Khatri community is known for practicing this craft.