About Trade and Development Report (TDR):

• First launched in 1981, it is issued every year by the UN Trade and Development (UNCTAD).
• The report analyses current economic trends and major policy issues of international concern and makes suggestions for addressing these issues at various levels.
• TDR 2026 Highlights:
  • Global trade is projected to grow by 4% in 2026, slower than the previous year’s 4%, but well above what was anticipated when the conflict in the Middle East began.
  • Global trade reached a record $35 trillion in 2025.
  • The report indicates higher trade values resulting from energy price increases and export controls.
  • While trade between China and the US has fallen by more than 20% since 2024, East Asia has expanded trade with both China and North America.
  • Developing economies, particularly India, are expected to drive notable growth despite overall global economic slowdowns.
  • Global economic growth will likely slow to 2.6% in 2026, down from 2.9% last year, but developing economies are projected to grow 4% this year, down from 4.7% in 2025.
  • Asia is projected to contribute 59% of global growth in 2026.
  • The report showed that governments increasingly use industrial, trade, financial, and technology policies to pursue economic and national security objectives.
  • Artificial intelligence products, comprising advanced computing equipment deployed primarily in new data centres, have become the main driver of merchandise trade; 82% of value added accrues to four supplier segments in this category.
  • From 2020 to 2025, strategic sectors grew from 16% to 44% of global greenfield investment.
    • Among these strategic sectors, artificial intelligence (AI) infrastructure and related technologies attracted the largest share of 12.4% of the $845.7 billion of overall global greenfield investment that took place within this period.
    • AI infrastructure was followed by the semiconductor value chain (8.1%) and energy transition technologies and services (7.8%).
  • Strategic investment is concentrated in Europe (28.4%) and North America (28%). Even among developing economies, capital is primarily funnelled into developing Asia (26.5%) with China, India, Indonesia, Malaysia, and Singapore as leading jurisdictions for new investments.
  • India Specific Findings:
    • India accounted for 7% of global greenfield investments during 2020 to 2025, followed by Malaysia (4%), Indonesia (3.8%), and China (2.8%).
    • India ranks high in terms of the number of industrial policies it has implemented over the last two decades or so.
    • India is the fastest-growing major economy, with GDP projected to expand by 7.3% in 2026 and 8% in 2027 due to robust domestic demand, increasing manufacturing capacity, and public infrastructure programmes.
    • It added that these factors are together sustaining growth despite India’s heavy reliance on oil imports.
    • India continues to post dynamic growth in household consumption, estimated at 9% this year and 5.6% next.

About Vertical Launch Short Range Surface-to-Air Missile (VL-SRSAM):

• It is an indigenously developed Short-Range Surface-to-Air Missile (SRSAM).
• It is designed and developed by the Defence Research & Development Organisation (DRDO) for the Indian Navy.
• It is primarily a ship-based weapon for neutralising various aerial threats at close ranges.
• Its primary mission is to intercept "sea-skimming" targets—missiles or drones that fly just above the ocean surface to evade early radar detection.
• Features:
  • Powered by a solid-propellant motor, the missile can hit top speeds of Mach 4.
  • It is capable of engaging threats up to an operational range of 80 km and an altitude of 16 km.
  • The system's vertical launch capability is one of its most crucial operational advantages.
  • By firing straight up from canister-based launchers before turning toward its target, the missile provides 360-degree coverage.
  • This means a warship can intercept an incoming threat from any direction without needing to physically rotate the vessel or adjust a mechanical launcher.
  • It relies on a state-of-the-art Multi-Function Radar (MFR).
  • This Active Electronically Scanned Array (AESA) radar scans the sky, identifies threats, assigns priority, and feeds this critical data to the onboard Weapon Control Computer (WCC).
  • As the missile approaches its target in the final phase of flight, an indigenous Radio Frequency (RF) seeker takes over to ensure pinpoint accuracy.

About Pong Dam:

• The Pong Dam, also known as the Beas Dam, is an earth-fill embankment dam constructed on the river Beas in the wetland of Shivalik hills in the Kangra district of Himachal Pradesh.
• The construction of the dam began in the year 1961 and was completed in 1974, and at that time it was known as the tallest of its type in the country.
• It was constructed for generating hydroelectricity and for irrigation purposes.
• The dam’s spillway is controlled by six radial gates affixed on the southern side of it. The base of the dam contains a powerhouse.
• The construction of a dam created an artificial lake called the Maharana Pratap Sagar, after the great ruler of Mewar.
  • Known widely as the Pong Reservoir or the Pong Dam Lake, it was declared a bird sanctuary in 1983 due to its waterfowl diversity.
  • Over time, the reservoir emerged as a sanctuary for migratory birds, leading to its designation as a Ramsar Wetland Site in 2002.
  • It is home to several species of avifauna, some of which include Barheaded Geese, Red-neck Grebe, northern lapwing, common teal, spot-billed duck, Eurasian coot, black stork, egrests, etc.
  • The lake is also an important fish reservoir that acts as a fish breeding ground for commercial purposes.
  • The Dhauladhar mountains ensconce the Pong Dam lake from all sides.
  • Since the lake is an extension of the perennial Beas river that flows from the Rohtang Pass, it contains water throughout the year.
  • Also, the Pong Dam ensures adequate water levels in the lake at all times.