November 6, 2025

Quick Overview

This edition of GK Current Affairs highlights four major developments shaping India’s global and domestic policy landscape — the launch of BRICS Pay as a financial sovereignty tool, NITI Aayog’s “Reimagining Agriculture” roadmap, reforms to revitalize Special Economic Zones (SEZs), and outcomes from the 5th India–Bahrain High Joint Commission. Each reflects India’s evolving role in global economics, technological adaptation, and regional diplomacy.

1. BRICS Pay: Redefining Global Financial Architecture

Context:
BRICS nations are working toward a more multipolar financial order by developing BRICS Pay, a cross-border payment framework that aims to reduce reliance on the US-led SWIFT system.

Key Points:

• BRICS Pay seeks to enable local currency transactions among member nations.

• It integrates national systems like India’s UPI, China’s CIPS, Russia’s SPFS, and Brazil’s Pix, improving interoperability.

• The initiative follows the 2024 Kazan Summit, emphasizing de-dollarisation and autonomy from Western financial systems.

Challenges:
Implementation faces technical interoperability issues, national payment rivalries (notably between India and China), and geopolitical resistance.

Significance:
BRICS Pay underlines a strategic shift toward financial sovereignty and diversification, offering developing nations a path to reduce vulnerability to Western sanctions.

2. Reimagining Agriculture: NITI Aayog’s Technology-Led Roadmap

Context:
NITI Aayog’s report, “Reimagining Agriculture: Roadmap for Frontier Technology-Led Transformation,” introduces a vision for transforming Indian agriculture through AI, IoT, biotechnology, and digital infrastructure.

Key Highlights:

• The proposed Digital Agriculture Mission 2.0 rests on three pillars — Enhance, Reimagine, and Converge — aiming for data-driven, inclusive farming.

• Initiatives include AgriStack (digital farmer IDs), Krishi Decision Support System (DSS) for data analytics, and Soil Profile Mapping.

• It classifies farmers into three groups — Aspiring, Transitioning, and Advanced — tailoring interventions accordingly.

Challenges:
Digital literacy gaps, infrastructure deficits, limited credit access, and fragmented ecosystem coordination continue to impede technology integration.

Way Forward:

• Establish Frontier Technology Centres of Excellence and regulatory sandboxes.

• Train Krishi Sakhis and extension workers as digital facilitators.

• Incentivize digital adoption through Direct Benefit Transfers (DBT) and AI-powered advisories.

Significance:
The roadmap envisions a shift from input-intensive to innovation-driven agriculture, crucial for achieving Viksit Bharat 2047.

3. Revitalizing India’s Special Economic Zones (SEZs)

Context:
A government panel is revising SEZ norms to make Indian exporters more competitive amid US tariff pressures and shifting global trade dynamics.

Need for Reform:

• US Tariffs have reduced export viability.

• Low FDI inflows and declining manufacturing units demand structural policy reform.

• The Baba Kalyani Committee (2018) recommended transforming SEZs into Employment & Economic Enclaves (3Es) with focus on both domestic and export markets.

Reform Proposals:

• Implement reverse job work allowing SEZ units to serve domestic markets.

• Integrate SEZs with industrial corridors like DMIC.

• Replace the SEZ Act (2005) with the SEZ Amendment Bill, 2024, aligning with the proposed DESH Bill framework.

• Create specialized arbitration and commercial courts within SEZs for faster dispute resolution.

Significance:
Modernizing SEZs is essential to boost FDI, export competitiveness, and job creation, making India a stronger player in global value chains.

4. Strengthening India–Bahrain Relations: Outcomes from the 5th High Joint Commission

Context:
India and Bahrain, during the 5th High Joint Commission (HJC) held in New Delhi, deepened bilateral cooperation across security, trade, and investment domains.

Key Developments:

• Agreement on counter-terrorism cooperation through intelligence sharing and cybersecurity.

• Bilateral trade touched USD 1.64 billion (FY 2024–25).

• Progress on Comprehensive Economic Partnership Agreement (CEPA), Bilateral Investment Treaty, and Double Taxation Avoidance Agreement (DTAA).

• Affirmed commitment to the Gaza Peace Plan for West Asia stability.

Strategic Importance:
Bahrain’s geo-strategic location in the Persian Gulf and close links with US 5th Fleet enhance India’s maritime and energy security.

Significance:
The partnership reinforces India’s West Asia outreach under its Extended Neighbourhood Policy and supports long-term energy, security, and trade cooperation.

CLAT/Exam Relevance Summary