GK One-Liners

What: India has officially launched its BRICS 2026 Chairship with the theme ‘Building for Resilience, Innovation, Cooperation and Sustainability’ (BRICS). This marks India’s second time chairing the grouping after 2021. BRICS now includes Brazil, Russia, India, China, South Africa, and new members Egypt, Ethiopia, Iran, Saudi Arabia, and the United Arab Emirates (UAE).

How: As Chair, India will host the annual BRICS Summit and set the agenda for over 100 meetings across ministerial, senior official, and working group levels. The chairship rotates annually among members. India’s theme emphasises building resilient supply chains, fostering innovation partnerships, and promoting sustainable development aligned with Global South priorities.

Why: BRICS is a high-priority topic for UPSC GS2 (International Relations) and GS3 (Economy). Questions frequently cover membership expansion, the New Development Bank (NDB), de-dollarisation debates, and India’s multilateral diplomacy. The 2024 expansion from 5 to 10 members and India’s chairship theme are likely Prelims factual questions.

What: The World Bank has raised India’s Gross Domestic Product (GDP) growth forecast to 7.2% for Financial Year 2025-26, reaffirming India’s position as the fastest-growing major economy globally. This upward revision reflects strong domestic consumption, services sector performance, and infrastructure investment momentum.

How: The World Bank publishes growth forecasts in its bi-annual Global Economic Prospects (GEP) report. India’s growth is driven by government capital expenditure (capex), robust private consumption, and a resilient services sector contributing over 55% to GDP. The forecast factors in easing inflation and stable monetary policy by the Reserve Bank of India (RBI).

Why: GDP growth forecasts by international organisations are common in UPSC Prelims. Students should know which agency publishes which report: World Bank (GEP), International Monetary Fund (IMF) (World Economic Outlook), and Asian Development Bank (ADB) (Asian Development Outlook). Comparing India’s growth with global averages is relevant for GS3 economic development essays.

What: NITI Aayog released the Export Preparedness Index (EPI) 2024, ranking states on export competitiveness. Maharashtra topped among large states, Uttarakhand led small states, and Uttar Pradesh emerged as the best-performing landlocked state. The index evaluates policy ecosystem, business environment, export infrastructure, and export performance.

How: EPI uses four pillars with 56 indicators covering trade policy, ease of doing business, transport connectivity, and actual export value. States are categorised into Coastal (large/small), Landlocked, and Himalayan/North-Eastern regions for fair comparison. The index incentivises states to improve export infrastructure under the Districts as Export Hubs initiative.

Why: NITI Aayog indices are frequently tested in UPSC Prelims, including EPI, SDG Index, and Composite Water Management Index. Questions may ask about the publishing agency, top-ranked states, or index parameters. EPI connects to GS3 topics on trade policy, export promotion, and federalism in economic governance.

What: The Reserve Bank of India (RBI) has recognised the Foreign Exchange Dealers’ Association of India (FEDAI) as a Self-Regulatory Organisation (SRO) for the foreign exchange (forex) market. FEDAI, established in 1958, is an association of banks dealing in foreign exchange in India and now has enhanced regulatory responsibilities.

How: As an SRO, FEDAI will frame rules, set ethical standards, handle disputes, and ensure compliance among member banks in forex operations. SROs operate under the oversight of the primary regulator (RBI) but have autonomy in day-to-day market governance. This model reduces regulatory burden on RBI while ensuring industry-driven best practices.

Why: Understanding financial market regulators and SROs is crucial for banking exams and UPSC GS3. Questions may cover FEDAI’s role, SRO concepts, and forex market regulation. Other SROs include AMFI (mutual funds) and FIMMDA (fixed income). The SRO framework reflects RBI’s shift towards principles-based regulation.

What: The 78th Army Day parade was held in Jaipur, Rajasthan, marking the first time the parade was conducted outside a military cantonment. The event featured the debut of the Bhairav Battalion and had ‘Networking & Data’ as its theme, highlighting the Indian Army’s digital transformation.

How: Army Day is celebrated on 15 January to commemorate General K.M. Cariappa taking over as the first Indian Commander-in-Chief of the Indian Army in 1949 from General Sir Francis Butcher. The Jaipur parade showcased indigenous defence equipment, special forces capabilities, and the Army’s emphasis on network-centric warfare and data analytics for modern combat.

Why: Army Day and defence modernisation are important for UPSC GS3 (Security) and general awareness. Questions may ask about the date’s significance, General Cariappa’s role, or indigenisation efforts under Atmanirbhar Bharat. The ‘Networking & Data’ theme reflects the Army’s theaterisation and tech integration priorities.

What: The World Economic Forum (WEF) released its Global Risks Report 2026 with the theme ‘Age of Competition’. For India, cyber insecurity emerged as the top risk, reflecting vulnerabilities in digital infrastructure. The report also cited Unified Payments Interface (UPI) as a global best practice in digital public infrastructure.

How: The WEF Global Risks Report surveys over 900 global experts annually, ranking risks by likelihood and impact over 2-year and 10-year horizons. Risks are categorised into economic, environmental, geopolitical, societal, and technological domains. India’s cyber risk ranking reflects increasing digitalisation, data breaches, and critical infrastructure threats.

Why: WEF reports are frequently cited in UPSC Mains essays on global challenges and India’s preparedness. Understanding cyber security threats connects to GS3 (Internal Security) and Science & Technology. UPI’s global recognition as a Digital Public Infrastructure (DPI) success story is relevant for questions on fintech and Digital India achievements.