₹12,980 Cr Sovereign-Backed Bharat Maritime Insurance Pool Approved; PMGSY-III Extended to 2029; Delimitation Freeze Lapses Post-2026 Census

US-China Summit, Iran's 7-Day Plan for Strait of Hormuz & NHAI's 50,000 km Highway Rules: UPSC Key

This UPSC Key covers multiple critical topics: the US-China summit with limited substance, Iran's 7-day peace proposal to reopen Strait of Hormuz, new uniform design standards for India's 50,000 km high-speed corridors, internal dissent in the Election Commission, the yuan's struggle to displace the dollar, and the UN's declining authority. Each has direct Prelims and Mains relevance.

India-Bhutan Sign ₹4,000 Cr LoC; 12 New PTA Projects Under 13th FYP Approved

India and Bhutan reviewed development cooperation, signed a ₹4,000 crore concessional LoC, and approved 12 new PTA projects under Bhutan's 13th Five-Year Plan (2024-29). This reinforces India's position as Bhutan's largest development partner, with total support of ₹10,000 crore for the plan period.

NDB Approved 139 Projects Worth $43 Billion; India Urged to Expedite Rupee Bond at BRICS

The 18th BRICS Summit concluded in New Delhi, highlighting India's strategic dilemma between non-West and anti-West identities. The New Development Bank (NDB) remains a practical tool, but its limited lending ($43 billion in 139 projects over a decade) and slow disbursement ($20 billion) lag behind AIIB. India must push the long-delayed rupee bond and expand local-currency lending to reduce dollar dependence without strengthening China's position.

UPSC Key: 14 Internal EC Dissents, Tarang Shakti-26 Multinational Exercise, and AI-Driven Semiconductor Supercycle

This Indian Express 'UPSC Key' compilation covers six critical topics: unprecedented internal dissent within the Election Commission (14 objections in 10 months), the second edition of India's largest multinational air exercise Tarang Shakti-26, the Supreme Court's reaffirmation of the Bijoe Emmanuel precedent on Vande Mataram, a new Centre scheme for lithium and nickel processing, the evolution of Yemen's Houthis from a local revivalist movement to a Red Sea power, and the global semiconductor 'supercycle' driven by AI demand. Each story is mapped to UPSC syllabus with previous year questions.

Tax Exemptions for Foreign Firms Extended to 2041, Boost for Apple's India iPhone Manufacturing

India has extended tax exemptions for foreign companies supplying machinery to contract manufacturers until 2041, a major win for Apple which is scaling iPhone production. The move also covers component storage in customs-bonded areas and eases rules for data centers, aiming to boost manufacturing and exports.

US President Trump Backs India-Middle East-Europe Economic Corridor (IMEEC) Against Iranian Threats

US President Donald Trump has announced strong US support for the India-Middle East-Europe Economic Corridor (IMEEC), linking it to the need to shift West Asian energy infrastructure away from Iranian checkpoints after Iran's attacks on commercial shipping. This is a major geostrategic endorsement for a key G20-launched connectivity initiative that directly challenges Iranian influence in the region.

India's LNG Imports Rise 15.4% in May-July as US, Nigeria, Oman Offset Strait of Hormuz Crisis

India successfully diversified its LNG import sources during the Strait of Hormuz crisis, increasing imports by 15.4% in May-July 2026. The US became the top supplier, while imports from Qatar plummeted 91.3%, highlighting India's energy security strategy amid geopolitical turmoil.

US Diesel Export Ban Proposal: Global Supply Crisis & Impact on India's Net Exporter Status

A US proposal to restrict diesel exports, supported by President Trump, threatens to remove the single largest source (20%) of globally traded diesel from the market. For India, a net diesel exporter, this could mean higher export margins for refineries like RIL, though higher export taxes and domestic demand will limit gains.