Current Affairs for June 2-3, 2026

SkyCast Aviation System Launched: India's first integrated aviation weather monitoring and forecasting system, SkyCast, was officially inaugurated at Indira Gandhi International Airport under the Mission Mausam programme. With this deployment, India becomes the 19th country globally to establish an integrated aviation weather intelligence platform.

Taiwan Overtakes India in Market Cap: Propelled by a historic surge in artificial intelligence infrastructure, data centers, and advanced semiconductor packaging (primarily led by TSMC), Taiwan has overtaken India to become the world's 5th largest equity market by stock market capitalization, pushing India to the 6th position.

BrahMos Export Deal Signed with Vietnam: Marking an exponential milestone in defense exports, India finalized a major bilateral agreement with Vietnam worth approximately $629 million (₹60 billion) for the supply of indigenous BrahMos supersonic cruise missile systems, training, and logistics. This makes Vietnam the second overseas buyer of the platform after the Philippines.

India-Oman CEPA Operationalized: The comprehensive Economic Partnership Agreement (CEPA) between India and Oman has officially been implemented. Oman has granted immediate zero-duty market access to 99.38% of India's exports by value. To secure local farming livelihoods, India has placed sensitive items like dairy, cereals, and oilseeds on a strict exclusion list.

PM SVANidhi Scheme Completes 6 Years: Launched by the Ministry of Housing and Urban Affairs as a micro-credit facility to support street vendors, the PM Street Vendor's AtmaNirbhar Nidhi (PM SVANidhi) completed 6 years of operation. Over the period, the scheme has facilitated more than 1.05 crore collateral-free loans amounting to over ₹17,800 crore.

India-US Bilateral Trade Negotiations on Section 301: High-level bilateral trade talks commenced in New Delhi. The Indian delegation, led by Additional Secretary Darpan Jain, is actively seeking specific exclusions and protection from blanket US tariffs linked to Washington's upcoming Section 301 trade enforcement actions slated for July 2026.

FIH Women's Nations Cup Squad Announced: Hockey India announced a 20-member women's national squad for the upcoming FIH Hockey Women's Nations Cup in Auckland, New Zealand. Midfielder Salima Tete will continue to lead the Indian team as captain, with Lalthantluangi and Shilpi Dabas earning their maiden senior call-ups.

AUKUS Pillar Two Launches Underwater Drone Program: The defense alliance of Australia, the United Kingdom, and the United States (AUKUS) formally launched a joint maritime military program under Pillar Two to co-develop advanced, autonomous Uncrewed Undersea Vehicles (UUVs) to strengthen Indo-Pacific oceanic security.

PM-SETU Scheme Grants First ITI Upgrade Approval: The National Steering Committee, chaired by the Ministry of Skill Development and Entrepreneurship, issued its first strategic Strategic Plan (SIP) clearance under the PM-SETU initiative, focusing on upgrading state Industrial Training Institutes (ITIs) into high-tech skill hubs.

Kolkata Launches AI-Enabled 'Swachh Mobile App': Union Minister Manohar Lal Khattar launched the 'Swachh App' in West Bengal. The civic tech solution features geo-tagged real-time reporting to enhance citizen participation in monitoring urban cleanliness and waste management under the Swachh Bharat Mission parameters.