22 July 2026 Current Affairs (With PDF)

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WTO Agreement on Fisheries Subsidies

India became the 123rd WTO member to deposit its Instrument of Acceptance for the WTO Agreement on Fisheries Subsidies (AFS).

About the Agreement

• Adopted at the 12th WTO Ministerial Conference (MC12) in 2022.
• Entered into force in September 2025.
• It is the first multilateral WTO agreement with an environmental sustainability objective, aimed at promoting sustainable fisheries and conserving marine resources.

Key Provisions

1. Prohibited Subsidies

• The agreement prohibits subsidies for Illegal, Unreported and Unregulated (IUU) fishing.; Fishing activities on the unregulated high seas; Harvesting overfished fish stocks, unless the subsidy directly supports stock recovery.

2. Scope

• Covers wild marine capture fisheries and related at-sea activities such as refuelling and fish processing.
• Aquaculture and inland fisheries are excluded from the agreement.

3. Transition Period

• Developing countries and Least Developed Countries (LDCs) receive a two-year exemption for fishing activities within their Exclusive Economic Zone (EEZ).

4. WTO Fish Fund

• Establishes a Fisheries Funding Mechanism to provide Financial assistance, Technical support, and Capacity-building for implementing the agreement.

5. Notification Requirements

• Members must notify the WTO regarding Fish stock status, Fisheries subsidy programmes, National fisheries management measures.

Significance for India

• Protects marine resources: Restrictions on IUU fishing and overfishing can improve fish availability for nearly 9 million fisher families.
• Boosts export credibility: Reinforces India's image as a responsible seafood exporter and supports seafood exports.
• Safeguards aquaculture exports: Since aquaculture is excluded, India's frozen shrimp exports remain outside subsidy disciplines.
• Lower compliance burden: India's relatively low fisheries subsidies reduce adjustment costs compared to heavily subsidising countries.
• Transition flexibility: The two-year exemption provides time to strengthen fisheries monitoring and management systems.
• Access to global funding: India can benefit from technical and financial assistance through the WTO Fish Fund.

Key Concerns

• Uniform subsidy approach: The agreement focuses on overall subsidy levels rather than per-fisher support.
• CBDR concerns: It does not adequately reflect the principle of Common But Differentiated Responsibilities (CBDR) between developed and developing countries.
• Limited consideration of national circumstances: Factors such as EEZ size, coastline length, and dependence on fisheries receive limited weight.
• Livelihood support concerns: Small welfare subsidies for traditional fishers may be treated similarly to industrial fishing subsidies.
• Data-intensive compliance: Developing countries may face challenges in producing scientific evidence required to demonstrate sustainable fish stock management.

Significance

• The WTO Agreement on Fisheries Subsidies represents a major step towards sustainable global fisheries governance by discouraging harmful subsidies while balancing conservation objectives with the developmental needs of developing countries through transition periods and financial assistance.

Revised Index of Core Industries

The Office of Economic Adviser (OEA) under the Ministry of Commerce and Industry released the revised Index of Core Industries (ICI) with 2022–23 as the new base year.

Recent Performance

1. The revised:

• ICI grew by 5% year-on-year in June 2026, the highest growth recorded in the last five months.

2. During April–June 2026: 

• The index recorded 3.6% growth, compared to 1% in the corresponding quarter of the previous year.

3. Growth Drivers

• Iron ore production (43.9%) was the major contributor to growth.
• Electricity and cement also recorded robust growth. *

4. Sectors Recording Decline

• Natural Gas: -7.4%
• Refinery Products: -4.7%
• Crude Oil: -4.2%
• Fertilisers: -3.3%

Key Features of the Revised ICI

1. Expanded Basket

• Iron ore has been included as the ninth core industry.
• It has been assigned a weight of 4.905%.

2. Alignment with IIP

• The revised series uses gross steel production instead of net production to align with the Index of Industrial Production (IIP) methodology.
• The combined weight of the nine core industries in the IIP has been revised to 32.88%.

3. Sectoral Weights

• Electricity: 30.932% (highest weight)
• Refinery Products: 22.572%
• Other core industries include coal, crude oil, natural gas, fertilisers, steel, cement, and iron ore.

4. Refined Coal Measurement

• Only raw coal is included in the index.
• Coal middlings and washed coal have been excluded to avoid double counting.

5. Linking Factor

• The revised series uses a linking factor, defined as the ratio of the monthly geometric means of the old and new series, consistent with the IIP (Base Year 2022–23) methodology.

Earlier ICI Series (Base Year: 2011–12)

• Covered eight core industries: Coal, Crude Oil, Natural Gas, Refinery Products, Fertilisers, Steel, Cement, Electricity
• These industries accounted for 40.27% of the IIP.
• Petroleum and Refinery Products had the highest weight (28.04%).

Significance

• The revised Index of Core Industries (Base Year 2022–23) provides a more accurate and contemporary measure of industrial activity, improves alignment with the Index of Industrial Production (IIP), incorporates the growing importance of iron ore, and enhances the reliability of India's high-frequency industrial growth indicators.

National Commission for Minorities

Harjit Singh Grewal has been appointed as the Chairperson of the National Commission for Minorities (NCM) for a three-year term.

About National Commission for Minorities (NCM)

1. The National:

• Commission for Minorities (NCM) is a statutory body established under the National Commission for Minorities Act, 1992.

2. It functions:

• Under the Ministry of Minority Affairs.

3. Its non-statutory predecessor:

• The Minorities Commission, was established in 1978 through a resolution of the Ministry of Home Affairs.

4. Exclusion

• Linguistic minorities are not covered under the NCM Act, 1992.
• Their interests are safeguarded by the Special Officer for Linguistic Minorities appointed under Article 350B of the Constitution.

5. Composition

• The Commission consists of Chairperson, Vice-Chairperson, Five Members
• All members are nominated by the Central Government for a three-year term.
• Of the seven members, five, including Chairperson, must belong to the notified minority communities.

6. Functions

• Evaluates the socio-economic and educational development of minority communities.
• Recommends measures to the Central and State Governments for effective implementation of constitutional and legal safeguards.
• Monitors the working of safeguards provided to minorities.

7. Powers

• Exercises the powers of a civil court while investigating complaints relating to the deprivation of minority rights.
• Can summon witnesses, receive evidence, and requisition public records.

8. Accountability

• Submits an annual report to the Central Government.
• The report is laid before both Houses of Parliament, along with a memorandum explaining the action taken or reasons for non-acceptance of recommendations.

Notified Minority Communities

• The NCM Act, 1992 does not define the term "minority". Under Section 2(c), a minority is any community notified by the Central Government.
• Currently notified religious minorities are Muslims, Christians, Sikhs, Buddhists, Parsis (Zoroastrians), Jains (notified in 2014)

Mangal Pandey (19 July 1827 – 8 April 1857)

Prime Minister Narendra Modi paid tribute to Mangal Pandey on his birth anniversary.
Mangal Pandey is remembered as one of the first martyrs of India’s freedom struggle, whose defiance against colonial rule became a catalyst for the Revolt of 1857, marking the beginning of organised armed resistance against British rule.

About Mangal Pandey

• Born on 19 July 1827.
• Served as a soldier in the 34th Bengal Native Infantry of the British East India Company’s Army.
• Regarded as one of the earliest heroes of India’s First War of Independence (Revolt of 1857).

Role in the Revolt of 1857

1. Barrackpore Uprising (29 March 1857)

• On 29 March 1857, at Barrackpore (West Bengal), Mangal Pandey attacked British officers Lieutenant Henry Baugh and Sergeant-Major James Hewson in protest against British rule.

2. Enfield Rifle Controversy

• The uprising was triggered by the introduction of the Pattern 1853 Enfield rifle.
• Its cartridges were believed to be greased with cow and pig fat.
• Since soldiers had to bite open the cartridges before loading, the practice hurt the religious sentiments of both Hindu and Muslim sepoys.

3. Catalyst for the Revolt

• Although the Barrackpore uprising was quickly suppressed, it became a powerful symbol of resistance and inspired the wider Revolt of 1857 across northern and central India.

4. Execution

• Mangal Pandey was court-martialled by the British East India Company.
• He was executed by hanging on 8 April 1857 for attacking British officers during the Barrackpore uprising.

Taj Mahal

The Allahabad High Court issued notices to the Central Government and the Archaeological Survey of India (ASI) on a petition challenging an Agra court's refusal to permit a survey of the Taj Mahal.

About Taj Mahal

1. The Taj Mahal

• This is a 17th-century white marble mausoleum situated on the right bank of the Yamuna River in Agra, Uttar Pradesh.

2. It was commissioned

• By Mughal Emperor Shah Jahan in memory of his wife Mumtaz Mahal.

3. Construction began in

• 1632 AD and was completed in 1648 AD.

4. Architecture

• Chief Architect: Ustad Ahmad Lahori.
• Considered the finest example of Mughal architecture, blending Persian, Islamic, and Indian architectural styles.
• Constructed primarily using Makrana white marble from Rajasthan.
• Renowned for its pietra dura inlay work, featuring intricate designs created with semi-precious stones.

5. Recognition

• Declared a UNESCO World Heritage Site in 1983 for its Outstanding Universal Value.
• Included among the New Seven Wonders of the World in 2007 through a global public poll.

Falkland Islands (Islas Malvinas)

The Falkland Islands (Islas Malvinas) were in the news after Argentina’s football team displayed a "Las Malvinas son Argentinas" banner during the 2026 FIFA World Cup celebrations, reviving the sovereignty
dispute with the United Kingdom.

About the Falkland Islands

• The Falkland Islands (called Islas Malvinas in Argentina) are a British Overseas Territory located in the South Atlantic Ocean, about 500 km east of the Argentine coast.
• Capital: Stanley
• The archipelago consists of East Falkland, West Falkland, Around 700 smaller islands
• Falkland Sound separates East and West Falkland.
• Climate: Cool, sub-Antarctic, and characterised by strong winds throughout the year.

Sovereignty Dispute

Significance

• The islands occupy a strategic location in the South Atlantic.
• They are surrounded by rich fishing grounds and are believed to possess offshore oil and gas reserves.
• The dispute led to the Falklands War (1982) between the United Kingdom and Argentina, after which the UK retained control of the islands.
• The sovereignty issue continues to remain a significant point of contention in UK–Argentina relations.

Estonia

The India–Estonia Business Forum was held in Tallinn, reinforcing bilateral cooperation in digital technology, cybersecurity, innovation, and trade.

About Estonia

• Estonia is a country in Northeastern Europe and the northernmost of the three Baltic States (Estonia, Latvia, and Lithuania).
• Capital: Tallinn, a major Baltic port city whose Historic Centre (Old Town) is a UNESCO World Heritage Site.
• Regained independence from the Soviet Union in 1991.
• Became a member of NATO and the European Union (EU) in 2004.

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