Context
Myanmar’s military-backed Union Solidarity and Development Party (USDP) has claimed victory in elections organised by the ruling junta, which critics view as a controlled exercise to legitimise continued military rule after the 2021 coup.
Context
India showcased the Long-Range Anti-Ship Missile (LR-AShM) at the Republic Day parade, signalling a major push to strengthen indigenous hypersonic strike and maritime deterrence capabilities.
Key Points
• Speed: > Mach 5
• Path: Non-ballistic, manoeuvrable
• Detection: Hard to track and intercept
• Role: Precision strike on high-value naval targets
• Range (LR-AShM): ~1,500 km
Context
Amid rising U.S. sanctions, geopolitical uncertainty and a weaker dollar, global central banks are increasingly shifting reserves from U.S. dollars to gold, accelerating the trend of de-dollarisation.
India’s Foreign Exchange Reserves include
• Foreign Currency Assets (FCA) – mainly US dollar-denominated securities (largest component)
• Gold
• Special Drawing Rights (SDRs) with IMF
• Reserve Tranche Position (RTP) in IMF
Summary
• Gold surge: Global central banks bought record amounts of gold in 2025; gold crossed $5,000/ounce
• Key buyers: Poland, Kazakhstan, Brazil, Turkey, China
• Dollar decline: US dollar share in global forex reserves fell from 71% (1999) to ~58.5% (2024) (IMF data)
• India angle: RBI added ~880 tonnes of gold over time; gold now ~17% of India’s forex reserves
Drivers of de-dollarisation
• US sanctions and weaponisation of finance
• Freezing of Russia’s reserves (Ukraine war)
• Desire for reserve diversification
• Trump factor: Trade wars, sanctions, tariff threats
• Limits: Despite decline, USD remains dominant (~89% of global forex transactions)
International Solar Alliance (ISA)
• Founded: 2015 (India–France initiative)
• Headquarters: Gurugram, India
• Members: 120+ countries
• Objective: Promote solar energy deployment by mobilising finance, technology and capacity-building
Impact of U.S. Exit
• Limited financial impact – U.S. contributed only ~10% of ISA funds
• Confidence effect – Global lenders may become more cautious
• Developing countries hit – Africa and poorer nations face slower project approvals
• India largely insulated – Domestic demand and long-term contracts drive solar growth
• Leadership shift – India’s role in climate diplomacy and ISA leadership increases
Context
China has proposed a domestic law to regulate its activities in Antarctica, signalling a shift from policy-based participation to formal legal control over Antarctic operations.
Antarctic Treaty System (ATS)
• Antarctic Treaty (1959): Governs Antarctica south of 60°S
• In force: 1961
• Participants: 56 countries
• Consultative Members: 29 (decision-making; includes India, China)
Core principles
• Peaceful use only
• Freedom of scientific research
• Ban on military activity and nuclear tests
• Territorial claims frozen (not abolished)
India in Antarctica
• Signatory since: 1983
• Research Stations:
• Dakshin Gangotri (1983) – Decommissioned
• Maitri (1989) – Active
• Bharati (2012) – Active
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