IN–SLN DIVEX 2026

Context: India and Sri Lanka conducted the 4th edition of the bilateral diving exercise IN–SLN DIVEX 2026 in Colombo (April 21–28, 2026).

About IN–SLN DIVEX 2026

• IN–SLN DIVEX is a bilateral naval diving exercise between the Indian Navy and the Sri Lanka Navy aimed at enhancing interoperability in complex underwater operations.
• The 2026 edition saw deployment of INS Nireekshak (Diving Support and Submarine Rescue Vessel) along with Sri Lankan diving teams, focusing on advanced deep-sea diving, including mixed gas diving drills.
• Divers conducted harbour and open-sea dives, achieving a key milestone by executing dives beyond 55 metres.
• Operations were carried out over World War-era wrecks such as SS Worcester and SS Perseus off Colombo, strengthening capabilities in underwater search, rescue, and salvage.
• The exercise also included joint activities like beach clean-ups, sports, and yoga sessions, along with humanitarian cooperation through the handover of BHISM cubes under the Aarogya Maitri initiative.

Significance

• The exercise enhances operational coordination, technical proficiency, and professional synergy between the two navies, particularly in deep-sea rescue and salvage operations in the Indian Ocean Region (IOR).
• It strengthens maritime cooperation, trust, and defence diplomacy while promoting humanitarian assistance and disaster preparedness.
• Aligned with India’s MAHASAGAR vision, IN–SLN DIVEX 2026 reinforces a shared commitment to regional peace, stability, and secure maritime governance in the IOR.

Naval Anti-Ship Missile–Short Range (NASM–SR)

Context: The Defence Research and Development Organisation and the Indian Navy successfully conducted the maiden salvo launch of the Naval Anti-Ship Missile–Short Range (NASM–SR) from a naval helicopter off the coast of Odisha in the Bay of Bengal.

About Naval Anti-Ship Missile–Short Range (NASM–SR)

• The NASM–SR is an indigenously developed, air-launched short-range anti-ship missile designed for deployment from naval helicopters, enhancing close-range maritime strike capability.
• In its maiden salvo trial, two missiles were launched in quick succession from the same helicopter, demonstrating advanced salvo capability along with precise waterline hit accuracy.
• The missile has a range of about 55 km and operates at high subsonic speed, flying at low altitudes (sea-skimming) to evade enemy radar systems.
• It is equipped with a ~100 kg warhead and functions as a fire-and-forget system, with post-launch lock-on capability for flexible targeting.
• Technologically, it incorporates a solid propulsion booster and a long-burn sustainer, enabling extended powered flight.
• Its guidance suite includes a fibre-optic gyroscope-based inertial navigation system, radio altimeter, advanced control algorithms, and a high-bandwidth two-way data link, along with an indigenous jet-vane control system.
• The missile has been developed by Research Centre Imarat in collaboration with multiple DRDO laboratories and is being produced with support from Indian industries and start-ups.
• Future Variant: A medium-range variant (NASM-MR) is under development and has been showcased on naval aircraft such as the MiG-29K.

Vikram VT 21

Context: The Defence Research and Development Organisation (DRDO) has unveiled the Vikram VT 21 Advanced Armoured Platform as a potential solution for the Indian Army’s Futuristic Infantry Combat Vehicle (FICV) requirement.

About Vikram VT 21

• Vikram VT 21 is a next-generation Advanced Armoured Platform (AAP) designed to combine high mobility, enhanced survivability, and superior firepower for modern battlefield conditions.
• It has been co-developed by DRDO’s Vehicles Research and Development Establishment in collaboration with Tata Advanced Systems Limited and Bharat Forge Limited, with support from MSMEs.
• The platform is offered in two configurations:
  • Wheeled variant: Faster, easier to maintain, and suitable for roads, urban and semi-urban operations.
  • Tracked variant: Provides superior traction, stability, and performance in rough, off-road, and high-altitude terrains.
• The platform is powered by a high-capacity engine with automatic transmission, offering strong power-to-weight ratio, high speed, and obstacle-crossing ability (trenches, slopes), with endurance of ~400 km (road) and ~300 km (cross-country).
• It is amphibious, using hydro-jet propulsion for riverine operations.
• The vehicle is equipped with an indigenous 30 mm crewless turret, 7.62 mm PKT machine gun, and can launch third-generation ATGMs (Nag).
• It offers STANAG Level 4/5 protection, modular armour, blast-protected seating, and CBRN protection, with provision for future active protection systems. Crew operates from within the hull using stabilised sights and fire-control systems.
• The platform is modular and ~65% indigenous (target 90%).

Significance

• Replacement of Ageing BMP-2 Fleet: The Indian Army’s BMP-2 Sarath fleet, inducted in the 1980s, faces limitations in survivability and battlefield awareness in modern warfare.
• Boost to Indigenous Defence Manufacturing: Supports Atmanirbhar Bharat with increasing indigenous content and collaboration between DRDO, private industry, and MSMEs.
• Revival of Stalled FICV Programme: The FICV project, approved earlier but delayed, gains renewed momentum with VT 21 as a credible, ready prototype solution.
• Operational Flexibility Across Terrains: Dual (wheeled + tracked) configuration and amphibious capability make it suitable for plains, deserts, riverine areas, and high-altitude sectors along borders with China and Pakistan.

Past Risk and Return Verification Agency (PaRRVA)

Context: Securities and Exchange Board of India has operationalised the Past Risk and Return Verification Agency (PaRRVA) to enhance transparency and investor protection in financial markets.

About the Past Risk and Return Verification Agency (PaRRVA)

• PaRRVA (Past Risk and Return Verification Agency) is a SEBI-led regulatory initiative aimed at standardising and independently verifying performance claims made by financial intermediaries.
• It seeks to create a transparent and credible ecosystem where investors can rely on authenticated data for decision-making.
• CARE Ratings Limited has been recognised as the PaRRVA, while National Stock Exchange of India Limited will function as the PaRRVA Data Centre (PDC).
• After a pilot phase launched in December 2025, the framework will become fully operational from May 4, 2026.
• PaRRVA enables regulated entities—such as investment advisers, research analysts, and algorithmic trading service providers—to present verified performance metrics including CAGR, Sharpe Ratio, and maximum drawdown.
• These metrics are validated through secure, API-based data sharing with market infrastructure institutions.
• The system strengthens investor protection by preventing misleading or selective claims and ensures regulatory compliance with SEBI guidelines.
• It also promotes market integrity by fostering fair practices.
• Additionally, entities can use PaRRVA-verified performance data in advertisements, subject to mandatory disclosures, thereby improving transparency and enabling informed investment decisions.

Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme Schedule Revision

Context The Department of Commerce has notified revised schedules under the Remission of Duties and Taxes on Exported Products (RoDTEP) Scheme to align with the amended Customs tariff structure effective May 1, 2026.

More on the News

• The revision covers 194 tariff lines, including the addition of 142 new lines, the deletion of 50, and the modification of 2, ensuring alignment with changes made under the Finance Act, 2026.
• It enables seamless integration with the Customs Automated System, reduces classification ambiguity, and improves ease of doing business by ensuring smooth processing of export benefits.

About RoDTEP Scheme

• The Remission of Duties and Taxes on Exported Products (RoDTEP) scheme, operational since 1 January 2021, replaced the Merchandise Exports from India Scheme (MEIS) to provide refunds of embedded taxes and duties not previously recoverable.
• Objective: It aims to boost exports by ensuring exporters are reimbursed for hidden costs (like VAT on fuel, mandi tax, coal cess, etc.), improving global competitiveness.
• WTO Compliance: The scheme emerged after a ruling by the World Trade Organization against India’s export subsidies, making RoDTEP a WTO-compliant mechanism replacing earlier schemes such as MEIS, SEZ incentives, and EPCG.
• Key Features:
  • Refund of previously non-refundable taxes and duties.
  • Electronic transferable duty credit scrips via digital ledger.
  • IT-based risk management system for faster verification.
  • Covers multiple sectors, ensuring uniform export support.

BRICS Entrepreneurs Alliance (BEA) Global Forum

Context: Dr. Bhaskar Jyoti Sonowal has been elected President of the BRICS Entrepreneurs Alliance Global Forum for the 2026–27 term, reflecting India’s rising leadership in the BRICS+ economic ecosystem.

About the BRICS Entrepreneurs Alliance (BEA) Global Forum

• It is a global platform that connects entrepreneurs, policymakers and business leaders across BRICS+ nations to promote cooperation, trust-based partnerships and inclusive growth.
• It was formally launched on 17 September 2025 during the II BRICS Forum on Traditional Values at Brazil’s National Congress through a joint declaration by parliamentarians, business leaders and international organisations.
• Unlike conventional business forums, BEA functions as a trust-based international network, guided by a Code of Ethics emphasising transparency, integrity and reliability.
• It seeks to address a major constraint in BRICS economies—the lack of trusted cross-border business networks—which often hinders investment and collaboration.
• Its key functions include creating a registry of reliable partners, providing market-entry support, facilitating training and encouraging knowledge exchange among entrepreneurs.
• BEA is guided by core values of mutual respect, cooperation, integrity and social responsibility, while fostering long-term partnerships and shared growth.