Narendra Modi set to leave for Brazil to participate in VIth BRICS Summit
i. Prime Minister Narendra Modi is all set to participate in
VIth BRICS Summit in Fortaleza and Brasilia, Brazil from 14 to 16th of July. 

ii. He will embark upon his
important journey on 13th of July. This will be his first multi-lateral meeting
with the heads of BRICS countries, the growing world economies such as Brazil,
China, Russia and South Africa.
iii. PM is also scheduled to have
important bilateral meetings with President of China, Mr Xi Jinping on 14th
July. On the same day, Shri Narendra Modi will have bilateral dialogues with
Russian President Vladimir Putin. 

iv. In summary, BRICS opens for its five
members a space for dialogue, the identification of convergences and
consultation regarding various topics, and expands contacts and cooperation in
specific sectors.
v. India is the second biggest economy
on Purchase Power Parity parameter in the group after China. With its huge
population and resources, in terms of skilled manpower and sizeable young
generation, India is one of the fastest growing economies of the world. 

vi. In such a case, India is all set
to play a vital role in BRICS organization as well as on the world platform
under the zeal and vigour of new government led by Shri Narendra Modi.
2.    Air India is now part of Star Alliance
i. Air India on Friday formally became a member of Star
Alliance, a conglomeration of 26 overseas airlines.
ii. “This is an important day for us. We have said for many
years that we needed a strong home carrier in the Indian market and by
welcoming Air India to our Star Alliance family, we have achieved this goal,”
said Star Alliance Chief Executive Mark Schwab.
iii. Rohit Nandan, Air India Chairman and Managing Director,
said: “Air India is proud to be a member of this prestigious airline Alliance.
From today, we open up a completely different world for our passengers, who can
now travel to over 1,300 destinations right across the network and enjoy
world-class service, better connectivity and seamless travel.”
iv. The biggest growth will come from Air India’s home
market, which till now was served by 13 Star Alliance members flying to 10
3.    World Bank to give $153 mn loan for Odisha project
i. India has inked a loan agreement with World Bank for an
assistance of $153 million (about Rs 920 crore) for the Odisha Disaster
Recovery Project.
ii. “The Loan Agreements for World Bank (International
Development Association (IDA) assistance of $153 million for Odisha Disaster
Recovery Project were signed here on Friday between the Government of India and
the World Bank,” an official statement said.
iii. The objective of the project is to restore and improve
housing and public services in targeted communities of Odisha, and increase the
capacity of the state entities to respond promptly and effectively to an
eligible crisis of emergency, the statement said.
iv. Direct beneficiaries of the project include population of
the coastal areas in Ganjam, Puri and Khordha affected by the cyclone that will
be part of the housing reconstruction programme, it added.
v. In addition, the total population of Berhampur, around
350,000, will benefit either directly or indirectly from the improvements
expected to result from the master plans.
vi. The Project will be implemented over a period of five
years. The Government of Odisha is the implementing agency of the project, the
statement said
4.    World Cup champions to get $35 mn from FIFA
i. The World Cup title not only carries immense prestige,
but a massive paycheck as well on Sunday.
ii. The winning federation, either Germany or Argentina,
will receive $35 million from the ruling body FIFA, and the losers $25 million,
FIFA said on Friday.
iii. There is also a financial incentive in the match for
third place between hosts Brazil and the Netherlands on Saturday, with $22
million for third place and $20 million for the fourth.
iv. Overall FIFA is dishing out $358 million to the 32 teams
who competed at the June 12-July 13 tournament.
North East can become world’s largest organic producer: VK
i. The Northeast has the potential to become the
largest producer of organic foods in the world, Union minister Vijay Kumar
Singh said on Saturday.
ii. VK Singh, the Union
Minister for Development of North Eastern Region said, “Potential in North
East is very high as it is already an organic hub by default.” 

iii. “However,
farmers here do not know what organic is. If we work on it, NE can become the
largest producer of organic foods in the world,” Singh told the National
Cold Chain Summit by ICC in Guwahati. 

iv. “Food
processing and cold chain storage are of utmost importance to NE,” Singh
said, adding that 40 per cent of food in the country was wasted due to lack of
storage facilities. 

He emphasised on
the need to establish cold chain storage facilities, which would be beneficial
to both farmers and consumers. 

Satish Upadhyay formally takes charge as Delhi BJP chief
i. Newly –appointed Delhi BJP President Satish Upadhyay, who
formally took charge of the post on Saturday said the people of Delhi have
shown faith in BJP and party workers should make all efforts to serve them.
ii. Health Minister
Harsh Vardhan, who was appointed as the state party chief just before the Lok
Sabha elections, handed over the charge of Delhi unit to Upadhyay at a function
organised at Delhi BJP office in New Delhi. 

iii. Addressing
BJP leaders and workers, Upadhyay said, “The people of Delhi have rejected
both Aam Aadmi Party and Congress and shown faith in BJP. We should continue to
make efforts to serve Delhiites.” 
IIP grows to 19-month high of 4.7% in May
i. Showing signs of recovery, industrial production
grew at 19-month high of 4.7 percent in May due to improved performance of
manufacturing, mining and power sectors and higher output of capital goods.
ii. The output, as
measured by the Index of Industrial Production (IIP), had contracted by 2.5
percent in the same month of last year. 

iii. IIP
data for April remained unchanged at 3.4 percent after revision of the
provisional estimates released last month, according to the information
released by the Central Statistics Office (CSO) on Friday. 

iv. The
IIP’s previous high was recorded in October 2012 at 8.4 percent. During the
April-May period of the current fiscal, the IIP recorded a growth of 4 percent,
as against contraction of 0.5 percent in the first two months of 2013-14. 

v. Manufacturing,
which constitutes over 75 percent of the index, grew 4.8 percent in May,
compared to decline in output by 3.2 percent a year ago. 

vi. For
April-May, the sector recorded a growth of 3.7 percent, compared to a
contraction of 0.7 percent in the year-ago period. 
Governor of Puducherry Virendra Kataria removed
i. President Pranab Mukherjee has removed Lieutenant
Governor of Puducherry, Virendra Kataria from his post. 
ii. Lt. General (Retd.) Ajay Kumar Singh,
Lieutenant Governor of Andaman and Nicobar Islands will have additional charge
of Puducherry. 
Indian Navy to get first indigenous
anti-submarine warfare ship INS Kamorta today
i. The Indian Navy will formally receive
the first fully ingeniously built anti-submarine warfare (ASW), INS Kamorta, at
Visakhapatnam on Saturday.
ii. The naval warship will be handed over
to the Indian Navy by Kolkata-based Garden Reach Shipbuilders and Engineers
Ltd. (GRSE) after a brief ceremony today.
iii. The first of the four such ships, INS
Kamorta will be the first to integrate rocket launcher for anti-submarine
iv. INS Kamorta is the
first ever warship built in the country with around 90 per cent of
indigenous content including special
grade high-tensile (DMR249A) steel produced by Steel Authority of India.