Exam Tip: “Current Events of National and International Importance” carries significant weight in WBCS Prelims. Focus on global summits, sports events, geopolitical developments, India’s trade agreements, and military exercises.
A. India-US Bilateral Framework on Critical Minerals
Detail
Information
Agreement Date
May 26, 2026
Type
Bilateral framework on securing supply chains of critical minerals and rare earths
Scope
Mining, processing, recycling, and related investments
Key Quote (Jaishankar)
“It will strengthen resilient and diversified supply chains, help us collaborate on financing and with the effective management of critical minerals and rare earths”
Key Quote (Rubio)
“The signing of the agreement is a tangible example of the strategic alliance between the United States and India”
B. India-US Interim Trade Agreement (Expected 2026)
Detail
Information
Status
Under negotiation; early conclusion expected
Recent Development
US delegation to visit New Delhi soon to advance process
Background
PM Modi and President Trump announced proximity to deal in February 2025
C. India-New Zealand Free Trade Agreement (FTA)
Detail
Information
Signed
April 27, 2026
Venue
Bharat Mandapam, New Delhi
Negotiation Timeline
Launched March 16, 2025; concluded December 22, 2025 (9 months)
Expected Entry into Force
After domestic ratification, expected later in 2026
Key Provisions for India:
Provision
Benefit
100% duty-free access
All 8,284 Indian export products to New Zealand market
Textiles & apparel
Immediate duty-free status
Leather & footwear
Tariffs cut from 5% to zero
Pharmaceuticals
Faster regulatory access; GMP/GCP acceptance
AYUSH recognition
Formal recognition of Ayurveda, Yoga, Unani, Siddha, Homeopathy
Mobility pathway
Up to 5,000 Indian professionals at any time to work in NZ
Key Provisions for New Zealand:
Provision
Benefit
Wine
Tariffs reduced from 150% over 10 years
Sheep meat
33% tariff removed immediately
Manuka honey
Tariffs fall from 66% to 16.5% over 5 years
Investment commitment
NZ to facilitate $20 billion FDI into India over 15 years
Protected Sectors in India: Dairy products, onions, pulses, sugar, edible oils, arms and ammunition, aluminum, copper, gems and jewelry
D. India-UK FTA
Detail
Information
Status
Signed July 2025
Expected Entry into Force
May 2026
E. India-Oman CEPA
Detail
Information
Signed
December 2025
Expected Entry into Force
June 1, 2026
F. India-European Union FTA
Detail
Information
Negotiations Concluded
January 27, 2026
G. India-EFTA (European Free Trade Association) TEPA
Detail
Information
Members
Switzerland, Iceland, Liechtenstein, Norway
Entered into Force
October 1, 2025
H. India’s FTA Summary Table
Agreement
Signed
Implemented/Expected
Key Feature
India-Mauritius
2021
April 2021
First of new generation FTAs
India-UAE CEPA
2022
May 2022
Trade increased 15% in first year
India-Australia ECTA
2022
December 2022
Comprehensive FTA negotiations underway
India-EFTA TEPA
2024
October 1, 2025
Switzerland, Norway, Iceland, Liechtenstein
India-UK CETA
July 2025
Expected May 2026
Long-awaited agreement
India-Oman CEPA
December 2025
Expected June 1, 2026
Gulf cooperation
India-New Zealand FTA
April 27, 2026
Expected later 2026
$20 billion investment commitment
India-EU FTA
–
Concluded Jan 27, 2026
27-nation bloc
India-US Interim
–
Expected 2026
Critical minerals framework signed May 2026
India now has 9 FTAs covering 38 countries.
💰 SECTION 8: ECONOMIC & ENERGY DEVELOPMENTS
A. India’s Defense Spending (SIPRI Report)
Detail
Information
Global Rank
5th
Expenditure
92.1 Billion USD
B. OPEC Developments
Detail
Information
Country that left OPEC
United Arab Emirates
C. India’s Climate Commitments (International)
Target
Detail
Non-fossil energy capacity by 2035
60% of power from non-fossil sources
Net Zero Target
2070
D. India-US Energy Cooperation
Detail
Information
Nuclear Cooperation
Shanti Act passed; new possibilities in nuclear domain
Energy Trade
Expansion in energy trade in recent months
🚨 SECTION 9: VERY IMPORTANT ONE-LINERS FOR WBCS
UN & International Organizations
Fact
Detail
UN Founded
24 October 1945
UN Headquarters
New York City, USA
Founding Members
51 countries
Current Members
193 member states
UN Military Gender Advocate 2025
Major Abhilasha Barak (3rd Indian recipient)
India’s Military Exercises
Fact
Detail
PRAGATI 2026
First multilateral military exercise hosted by India (Umroi, Meghalaya)
PRAGATI Full Form
Partnership of Regional Armies for Growth and Transformation in the Indian Ocean Region
Participating Nations in PRAGATI
12 countries
IN-SLN DIVEX
4th India-Sri Lanka joint naval exercise
MITRA SHAKTI 2025
11th India-Sri Lanka joint military exercise
YUDH ABHYAS
Annual India-US joint military exercise
India’s defense rank (SIPRI)
5th globally (92.1 Billion USD)
India’s Trade Agreements
Fact
Detail
India-US Critical Minerals Framework
Signed May 26, 2026
India-New Zealand FTA
Signed April 27, 2026
India-UK FTA
Signed July 2025; expected May 2026
India-Oman CEPA
Signed December 2025; expected June 1, 2026
India-EU FTA
Concluded January 27, 2026
India’s total FTAs
9 FTAs covering 38 countries
Country that left OPEC
United Arab Emirates
Sports & Championships
Fact
Detail
IBSF World Billiards Champion 2026
Sourav Kothari (India)
World Baseball Classic 2026 Champion
Venezuela (first title)
WorldSkills Competition 2026
Shanghai, China (Sep 22-27, 2026)
Commonwealth Games 2026 Host
Glasgow, Scotland
ICC T20 World Cup 2026 Hosts
India & Sri Lanka
World Yogasana Championship
Launched 2026 in New Delhi
Summits & Conferences
Fact
Detail
World Public Summit 2026 Theme
“Values That Unite”
World Public Summit Host
India
📊 SECTION 10: QUICK REVISION TABLE FOR EXAMS
Category
Key Fact
PRAGATI 2026
First multilateral military exercise hosted by India (12 nations, Meghalaya)
IN-SLN DIVEX
4th India-Sri Lanka naval exercise
MITRA SHAKTI 2025
11th India-Sri Lanka army exercise
India-US Critical Minerals Framework
Signed May 26, 2026
India-New Zealand FTA
Signed April 27, 2026 (100% duty-free for India)
India-UK FTA
Expected May 2026
India-Oman CEPA
Expected June 1, 2026
India-EU FTA
Concluded January 27, 2026
India’s FTAs total
9 agreements covering 38 countries
UN Military Gender Advocate 2025
Major Abhilasha Barak (3rd Indian recipient)
World Baseball Classic 2026
Venezuela (first title)
WorldSkills 2026 Venue
Shanghai, China
CWG 2026 Host
Glasgow, Scotland
UN Founded
24 October 1945
UN Headquarters
New York, USA
Country left OPEC
United Arab Emirates
India’s Defense Rank
5th (SIPRI)
World Yogasana Championship
Launched 2026 in New Delhi
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