Current Affairs 3 January 2025 With Quiz - India Deepens Global Ties and Tackles Domestic Challenges as 2025 Unfolds

On January 3, 2025, India's focus broadened from domestic economic announcements to significant diplomatic engagements and key developments in public health and urban governance. The day's events underscored the nation's dual strategy: strengthening its role as a global leader while simultaneously addressing the intricate needs of its vast population. The narrative was shaped by SEO-ready keywords like India-Africa relations, Indian defence exports, pre-budget consultation, startup IPOs, public health breakthroughs, and Ease of Living Index.

Diplomacy and Defence: The India-Africa Summit

New Delhi took center stage in global diplomacy by hosting the inaugural India-Africa Defence and Technology Summit. The summit saw high-level participation from over 20 African nations, including key partners like South Africa, Nigeria, Egypt, and Kenya. The primary agenda was to bolster cooperation in maritime security across the Indian Ocean, counter-terrorism strategies, and the transfer of technology for indigenous defence manufacturing in Africa, aligning with India's vision of SAGAR (Security and Growth for All in the Region).

The summit concluded with the unanimous adoption of the "Delhi Declaration on Defence Cooperation." This landmark declaration establishes a new framework for joint military exercises, intelligence sharing, and, most notably, a commitment from India to extend a new $5 billion line of credit to African nations for the procurement of Indian-made defence equipment. This move is a significant push for Indian defence exports and positions India as a reliable security partner for the African continent, offering a homegrown alternative to traditional global defence suppliers.

Economic Policy: Pre-Budget Consultations Gain Momentum

With the Union Budget 2025-26 on the horizon, the Finance Minister engaged in a crucial pre-budget consultationmeeting with prominent economists and the leadership of major industry bodies like the Confederation of Indian Industry (CII) and FICCI. The discussions were candid, focusing on sustaining India's growth momentum amidst a challenging global economic outlook.

Industry leaders presented a clear set of recommendations. A key demand was the rationalization of the capital gains tax structure, which they argued would simplify compliance and encourage long-term investment. They also strongly advocated for the expansion of the successful Production Linked Incentive (PLI) scheme to include more sunrise sectors, such as green hydrogen storage, battery technology, and medical devices. Furthermore, there was a consensus on the need for deeper reforms in the corporate bond market to create alternative channels for infrastructure financing.

Startup Ecosystem: An EV Giant Goes Public

The Indian startup scene witnessed a major milestone. 'Vidyut Mobility', a leading homegrown ride-hailing and electric vehicle (EV) manufacturing company, officially filed its Draft Red Herring Prospectus (DRHP) with the Securities and Exchange Board of India (SEBI) for its much-anticipated Initial Public Offering (IPO). The move came after the company announced it had achieved operational profitability for the first time in the third quarter of 2024.

This development is seen as a sign of the increasing maturity of the Indian startup ecosystem, where companies are now focusing on sustainable business models rather than just cash-burning growth. The Vidyut Mobility IPO, expected to be one of the largest of the year, is set to test public market appetite for new-age tech companies and could pave the way for more startup IPOs in 2025.

Public Health Breakthrough: A Vaccine Against Dengue

In a major victory for public health, the Indian Council of Medical Research (ICMR) announced the successful completion of Phase-III clinical trials for a new, single-dose dengue vaccine. Developed collaboratively by ICMR scientists and a leading Indian pharmaceutical firm, the vaccine has shown high efficacy against all four serotypes of the dengue virus.

This breakthrough is a game-changer for India and other tropical countries where dengue is a significant health burden, causing thousands of deaths annually. The Health Ministry stated that it would work on an accelerated rollout plan for the vaccine, integrating it into the national immunization program, particularly in high-risk regions, before the next monsoon season.

Urban Governance: The Ease of Living Index

The Ministry of Housing and Urban Affairs released its comprehensive 'Ease of Living Index 2024', a report that ranks Indian cities based on quality of life, economic ability, and sustainability. For the third consecutive year, Punewas ranked as the most livable city in India, praised for its strong infrastructure, educational institutions, and healthcare facilities. Pune was followed closely by Ahmedabad and Bengaluru.

The report credited the Smart Cities Mission for significant improvements in urban infrastructure, particularly in areas like digital governance and public transport. However, it also flagged persistent challenges for many cities, including deteriorating air quality and the need for more efficient solid waste management systems, setting a clear agenda for urban policymakers in 2025.