Business Current Affairs: Nov 25, 2024

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Introduction on Business Current Affairs

Business current affairs shape the global economy, highlighting key developments in finance, trade, and industries. Stay updated with pivotal insights into economic trends.

Business Current Affairs: One-Liner Questions with Answers

1. What event did PM Narendra Modi inaugurate in 2024?
   PM Modi inaugurated the ICA Global Cooperative Conference 2024 and launched the UN International Year of Cooperatives 2025.
2. What is the focus of the ICA Global Cooperative Conference 2024?
   It emphasizes creating global financial institutions to finance cooperatives globally.
3. How many foreign tourists visited India from January to August 2024?
   Around 61.91 lakh foreign tourists visited India during this period.
4. What was the contribution of the tourism sector to India’s GDP in 2022-23?
   The tourism sector contributed 5% to India’s GDP, up from 1.75% in 2021-22.
5. What is the ‘Chalo India’ initiative?
   It encourages the Indian diaspora to invite non-Indian friends to visit India, with a portal enabling participation and free e-visas.
6. What schemes are enhancing India’s tourism infrastructure?
   Key schemes include Swadesh Darshan, PRASHAD, and initiatives involving partnerships with transportation ministries.
7. What recent challenge has South Korea faced regarding youth employment?
   Youth employment fell to the lowest level since 2018, with 1.45 million new wage jobs in the second quarter of 2024.
8. What collaboration was announced to tackle India’s plastic waste?
   Plastonix and Vee Technologies partnered to develop a plastic waste recycling system using patented technology.
9. How much plastic waste did India produce in 2023, and what is recycled?
   India produced 9.46 million tonnes of plastic waste, but only 8% is recycled.
10. What investment trend has shaped India’s economy recently?
    India invested $8 trillion in the last decade, with projections for another $8 trillion by 2029.
11. What is the expected growth of India’s cement industry by 2028-29?
    It is projected to grow to 5.09 billion tonnes, with a CAGR of 4.9%.
12. How does India’s per capita cement consumption compare globally?
    India’s consumption (260 kg) is lower than the global average (540 kg), indicating potential for growth.

Business Current Affairs: Key Takeaways

1. PM Modi emphasizes global financial support for cooperatives.
2. India sees a surge in foreign tourist arrivals and GDP contribution from tourism.
3. The ‘Chalo India’ initiative promotes Indian tourism through the diaspora.
4. South Korea faces declining youth employment despite overall job growth.
5. India’s plastic recycling remains low, with new joint ventures aiming for improvement.
6. Significant investments are driving India’s post-COVID economic recovery.
7. Infrastructure projects and housing schemes fuel India’s cement industry growth.
8. India’s economic competitiveness continues to rise with sustained investment.
9. Collaborative efforts are enhancing tourism infrastructure and inter-ministry synergy.
10. India is positioning itself as a hub for innovation in recycling and sustainable practices.

Also Read: Business Current Affairs: November 26, 2024

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