National Affairs
NITI Aayog Releases 8th Edition of Trade Watch Quarterly
NITI Aayog released the 8th edition of the "Trade Watch Quarterly (TWQ)" for Q4 (January-March 2026) of FY26 in New Delhi. Released by interim CEO Nidhi Chhibber and senior officials, this edition focuses heavily on the pharmaceutical sector, with a special emphasis on Active Pharmaceutical Ingredients (APIs).
Key Insight: India’s pharmaceutical sector contributes over 1.7% to the national GDP and 7.2% to manufacturing Gross Value Added (GVA). Total merchandise and services trade expanded by 5.4% during FY26, reaching a stable USD 1.84 trillion.
First Hub-and-Spoke Flight Inaugurated in Varanasi
Union Civil Aviation Minister K. Ram Mohan Naidu inaugurated India’s first hub-and-spoke flight (Air India flight 1111) at Lal Bahadur Shastri International Airport in Varanasi. Launched under Air India’s "Easy Connect" initiative, this connects passengers from tier-2 and tier-3 cities to 17 international destinations (including Rome, Singapore, and Phuket) via a single transit point in New Delhi without the need to re-book or re-check baggage at the metro hub.
C-DOT & IIT Hyderabad Partner for Advanced Communication CoE
The Centre for Development of Telematics (C-DOT) signed an MoU with IIT Hyderabad (IITH) to establish a Centre of Excellence (CoE) in advanced communications technologies on the IITH campus.
Focus Areas: This 4th C-DOT CoE will focus on wireless communications, quantum technologies, cybersecurity, and AI-driven applications, including prototype development in 5G Advanced/6G and massive MIMO systems.
ASSOCHAM & ACCI Aim to Boost India–Afghanistan Trade
The Associated Chambers of Commerce and Industry of India (ASSOCHAM) and the Afghanistan Chamber of Commerce and Investment (ACCI) signed an MoU to enhance bilateral trade. Focusing on mining, food processing, pharma, oil & gas, and sugar manufacturing, the partners aim to expand the current USD 1 billion trade relationship through delegation exchanges and digital auction platforms.
BharathCloud & ICSI Partner for Sovereign AI Cloud
BharathCloud and the Institute of Company Secretaries of India (ICSI) signed an MoU to provide secure, India-hosted cloud infrastructure for Company Secretaries. The partnership accelerates digital transformation by migrating operations from on-premise IT systems to an encrypted platform with automated backups and disaster recovery capabilities.
International Affairs
TOP500 Supercomputer Rankings: China’s LineShine Takes the Crown
The 67th edition of the TOP500 Supercomputer Rankings, released at the ISC High Performance 2026 conference in Germany, revealed that China’s LineShine (based in Shenzhen) is now the world's most powerful supercomputer, dethroning the USA's El Capitan.
Global Standings: The USA led with 161 systems on the list, followed by Japan (44), Germany (41), and China (31).
India's Position: India's most powerful supercomputer, Shakti Cloud, secured the 32nd spot with a performance of 84.31 petaflops. Overall, India ranked 16th globally with 7 recognized supercomputers.
Bangladesh Joins India’s International Big Cat Alliance
Bangladesh has officially become the 27th member of the International Big Cat Alliance (IBCA). The move strengthens transboundary conservation of the Bengal tiger and leopard in the Sundarbans and promotes data sharing and anti-poaching efforts across South Asian ecosystems.
USA Approves USD 482.2 Million Sustainment Package for India
The US Defence Security Cooperation Agency (DSCA) notified a proposed sale of sustainment support for India’s military hardware. The package includes USD 230 million for M777A2 Ultra-Light Howitzers (BAE Systems) and USD 198.2 million for AH-64E Apache helicopters (Boeing/Lockheed Martin), enhancing India's rapid deployment artillery and precision strike capabilities.
Economy & Finance
S&P Global Downgrades India’s FY27 GDP Forecast
S&P Global Ratings released its "Economic Outlook Asia-Pacific Q3 2026" report, trimming India’s GDP growth forecast for FY27 to 6.6%. The downgrade is attributed to energy stress, a sub-par monsoon, and slowing global growth. Retail inflation is projected to rise to 5.1% this fiscal year. Growth is expected to rebound to 7.2% in FY28.
Skydo Becomes First Indian Cross-Border Platform with Canada Registration
Cross-border payments startup Skydo secured an international payment license under Canada’s Retail Payment Activities Act (RPAA). This allows the Bengaluru-based company to facilitate seamless two-day payment flows between India and Canada, targeting trade, education, and tourism sectors.
Mergers, Acquisitions & Appointments
Ethiopian Elections: Prime Minister Abiy Ahmed’s Prosperity Party secured a landslide victory, winning 438 of 501 contested seats. The 2019 Nobel Peace Prize laureate is set to begin a second consecutive five-year term in October 2026.
Honda Increases Astemo Stake: The Competition Commission of India (CCI) approved Honda Motor Co.’s acquisition of an additional 21% stake in automotive components maker Astemo from Hitachi, making it a consolidated subsidiary with a 61% hold.
Bharti Airtel Movements: The CCI also approved Alpha Wave Global’s stake acquisition in Nxtra (Airtel’s data center arm). Separately, Bharti Airtel increased its shareholding in Airtel Africa to approximately 79% by acquiring a 16.3% stake for around Rs 28,200 crore.
Environment & Science
New Microscopic Snails Discovered in Meghalaya
Scientists from ATREE discovered two new microscopic snail species in the limestone caves of Meghalaya:
Georissa meghalayaensis: Endemic to the region, featuring an orangish-red shell with mesh-like ridges.
Acmella bensoni: Found deeper in the caves, sporting a translucent whitish shell.
Both species are highly adapted to cave ecosystems and face threats from tourism, artificial lighting, and limestone mining.
ZSI Discovers Two New Moth Species in the Western Ghats
The Zoological Survey of India (ZSI) and London's Natural History Museum identified two new moth species:
Antaram idukki: An extremely rare tiger moth discovered in Idukki, Kerala, serving as a night pollinator and bio-indicator.
Mimeusemia kali: A day-active forester moth found in the Kali Tiger Reserve, Karnataka, marking the first addition to the Mimeusemia genus in nearly 30 years.
Sports & Important Days
FEI and FAI Sign MoU for Fencing Ahead of LA 2028
The International Fencing Federation (FIE) and the Fencing Association of India (FAI) signed a strategic MoU in New Delhi to boost the growth of fencing in India. The partnership targets athlete promotion, fan engagement, and ecosystem development leading up to the Los Angeles 2028 Olympic Games.
Important Days Observed:
June 24 - International Day of Women in Diplomacy: Recognizing women's roles in global decision-making. (India currently ranks 151st globally for women in parliamentary seats at 13.8%).
June 24 - Passport Seva Divas: Commemorating the enactment of the Passports Act, 1967.
June 25 - Day of the Seafarer: Celebrating maritime workers with the 2026 theme: "Carrying world trade. Carrying the risks."