Daily PIB Highlights (11-06-2025)

Topic- 1: IREDA Raises ₹2,005.90 Crore via QIP to Strengthen Green Financing and Renewable Energy Push

GS-3: Economy

The context:

Recently, the Indian Renewable Energy Development Agency Ltd. (IREDA) has successfully raised ₹2,005.90 crore through a Qualified Institutions Placement (QIP) on 10^th June 2025. The capital was mobilized by issuing 12.15 crore equity shares at a price of ₹165.14 per share, which includes a premium of ₹155.14 per share over the face value of ₹10.

• • IREDA successfully raised ₹2,005.90 crore through a Qualified Institutions Placement (QIP) by issuing 15 crore equity shares at ₹165.14 each, reflecting a 5% discount on the floor price of ₹173.83.
  • The QIP, launched on June 5 and closed on June 10, 2025, received strong interest from both domestic and foreign Qualified Institutional Buyers (QIBs), including insurance firms, commercial banks, and foreign portfolio investors.
  • The issue was oversubscribed, achieving 1.34 times the base issue size of ₹1,500 crore, demonstrating robust investor confidence.
  • The capital raised will enhance IREDA’s Tier-I capital and Capital Adequacy Ratio (CAR), boosting its capacity to fund India’s growing renewable energy sector.
  • This marks a significant achievement for IREDA shortly after its IPO in November 2023, highlighting the trust of investors and support from the Ministry of New & Renewable Energy.
  • The funds will help scale up green financing activities and accelerate India’s transition to a sustainable energy future.
  • IREDA expressed gratitude to institutional investors, stakeholders, and key government officials for their continued support and reaffirmed its commitment to clean energy financing leadership.

 

Source: PIB

 

Topic- 2: How India’s Technical Textiles Sector is witnessing rapid growth

GS-3: Economy

The context:

The Prime Minister of India shared an article on how India’s technical textiles sector is undergoing a transformative phase, propelled by key government initiatives such as the National Technical Textiles Mission (NTTM) and the Production Linked Incentive (PLI) scheme 10^th Jun 2025. These efforts are significantly enhancing domestic manufacturing, fostering innovation, and driving exports, positioning India as a global leader in technical textiles.

• • India’s technical textiles sector is witnessing rapid growth, driven by key initiatives like the National Technical Textiles Mission and the PLI scheme. These efforts are boosting manufacturing, innovation and exports, positioning India as a global leader.

India’s Status of Technical Textiles:

• • India ranks 6th globally in textile exports, holding a 3.9% share in global textile trade.
  • Indian exports include automotive, healthcare, and industrial textiles under the technical textiles category.
  • The textile sector contributes ~2% to India’s GDP, with technical textiles gaining increased prominence.
  • The Indian textile market is projected to grow to USD 350 billion by 2030, creating around 3.5 crore jobs.
  • The National Technical Textiles Mission (NTTM) has an allocation of ₹1,480 crore (2020–2026).
  • As of now, ₹517 crore has been released, and ₹393.39 crore utilized under the NTTM.
  • Under the R&D initiative of NTTM, 168 projects worth ₹509 crore have been approved to develop new materials and applications.

Potential of Technical Textiles in the Indian Economy

• • Technical textiles have diverse industrial applications, including automotive, construction, defence, agriculture, and healthcare.
  • Geotextiles are used for strengthening roads; agro-textiles improve agricultural yield.
  • The sector is expected to train and employ over 50,000 professionals in specialized textile applications.
  • A dedicated export promotion council has been established to boost global demand and tap new markets.
  • Government schemes like GREAT support startup innovations, providing funding of up to ₹50 lakh.
  • Example: Mahina, India’s first bonded period underwear, was developed under such innovation support.
  • The sector supports ‘Make in India’ by promoting local innovation and manufacturing, in line with Aatmanirbhar Bharat.

Challenges to Technical Textiles

• • There is limited awareness among end-users, particularly MSMEs, about the benefits and applications of technical textiles.
  • The sector faces a skilled workforce gap in advanced textile technologies and niche applications.
  • High R&D costs act as a barrier for startups, especially in developing new fibres and coatings.
  • India remains dependent on imports for certain raw materials and machinery, increasing production costs.
  • Slow domestic market penetration is observed due to conservative procurement and limited adoption.

Way Ahead

• • Incentivize domestic manufacturing by expanding capital subsidies and tax reliefs to attract more investment.
    • Example: Tamil Nadu raised spinning modernization subsidy from 2% to 6%.
  • Promote exports through Free Trade Agreements (FTAs) to lower global market entry barriers.
  • Introduce public procurement mandates to ensure use of technical textiles in government infrastructure and healthcare projects.
  • Encourage global collaborations for technology transfer, certification access, and joint development.
  • Launch nationwide awareness campaigns to educate industries and consumers on the advantages of technical textiles.

Conclusion

• • India’s growth in technical textiles signifies a transition from traditional to functional fabrics tailored to modern industrial demands. With continued policy support, R&D investment, and innovation encouragement, India is poised to become a global leader in technical textiles. The sector holds potential to become a key pillar of India’s economic and export strategy in the coming years.

 

Source: PIB

 

Topic- 3: Accelerating Discovery and Early Development of Indigenous Therapeutic Solutions using Monoclonal Antibodies under Bio-E3 initiative

GS-3: Science and Technology

The context:

On 10th June 2025, the Biotechnology Research and Innovation Council (BRIC) and Translational Health Science and Technology Institute (THSTI) hosted a symposium on “Discovery and Development of Monoclonal Antibody (mAb) Therapeutics”. The event aimed to accelerate indigenous innovation in mAb therapeutics under the Bio-E3 initiative (Biotechnology for Economy, Environment & Employment) of the Department of Biotechnology (DBT).

Key Highlights of the Symposium:

• • The event brought together pharmaceutical companies, start-ups, CRDMOs (Contract Research and Development Manufacturing Organizations), academic institutions, and funding bodies such as BIRAC and Wadhwani Foundation.
  • The focus was on collaboration between industry and academia from the early stages of innovation to ensure affordable, indigenous solutions in mAb development.
  • The symposium highlighted India’s growing biopharmaceutical sector and the urgent need for self-reliant, high-quality biologics to ensure health security and economic growth.
  • A panel discussion emphasized strategies to boost academia-industry collaboration, increase funding, and build skilled human capital.

The Bio-E3 Initiative:

• • Objective: To catalyze self-reliance in biotechnology by promoting platforms like monoclonal antibodies, with benefits across healthcare, employment generation, and environmental sustainability.
  • Pivotal Role of mAbs: Monoclonal antibodies are key tools in precision medicine, targeting specific disease pathways, and are vital for combating infectious diseases, cancers, autoimmune disorders, and more.
  • Policy Backing: DBT reaffirmed its commitment to supporting indigenous mAb development, reducing dependence on imports, and promoting equitable access to biologics.

Key Sessions and Scientific Insights:

• • Novel mAb Discovery Platforms:
  • B-cell cloning, mammalian display, and next-gen antibody engineering were discussed as tools to revolutionize antibody discovery.
  • Highlighted the importance of “fit-for-purpose” tools to optimize discovery speed and precision.
  • Development of Novel mAbs:
  • Focused on manufacturability, immune response strategies, and CHO cell line engineering to improve yield and efficiency.
  • Insights into antibody-drug conjugates for targeted therapeutics.
  • New Horizons in mAbs: Cutting-edge developments such as Circular RNA for mAb democratization and AI-driven antibody design showcased India’s innovation edge.

Significance for India:

• • Strategic Health Security: Boosting indigenous mAb development aligns with India’s health resilience goals and pandemic preparedness.
  • Economic Potential: Growth in biopharma can contribute significantly to GDP and biotech exports, supporting Aatmanirbhar Bharat.
  • Employment Generation: Training in biotechnology and mAb platforms can create a skilled workforce, particularly in Tier-2 and Tier-3 cities.
  • Global Leadership: With technological self-reliance and innovation, India can emerge as a global hub for affordable biologics.

Challenges Ahead:

• • High R&D Costs for advanced biologics development.
  • Limited Academia-Industry Integration, especially in early-stage innovation.
  • Regulatory Hurdles in faster approvals of novel therapies.
  • Need for Ecosystem Strengthening, including infrastructure, funding pipelines, and talent development.

Way Forward:

• • Enhance Academia-Industry Matchmaking: Encourage platforms for sustained partnerships in therapeutic discovery.
  • Expand Funding Support: Strengthen DBT-BIRAC grants, venture capital, and PPP models in biotechnology.
  • Invest in Infrastructure: Develop advanced biotech research clusters and biologics manufacturing hubs.
  • Promote AI and Digital Tools: Leverage digital health and AI-driven design to fast-track development and reduce costs.
  • Skill Development: Integrate bio-innovation into skilling initiatives under Skill India and PMKVY.

Conclusion:

The Bio-E3 initiative and the focus on monoclonal antibodies mark a transformative step in India’s biotechnology journey. By harnessing indigenous innovation, fostering collaboration, and enabling robust policy support, India is poised to become a leader in affordable, precision therapeutics. This aligns with the broader goals of healthcare equity, technological sovereignty, and economic development.

 

Source: PIB

 

Topic- 4: Sant Kabir Das

GS-2 & 3: IR and Economy

The context:

Prime Minister pays tribute to Sant Kabir Das on his birth anniversary on 11^th June 2025.

About Sant Kabir Das:

• • Sant Kabir Das was born in Varanasi, Uttar Pradesh, in the 15th century to a Hindu family, but was raised by a Muslim weaver couple.
  • He was a prominent figure in the Bhakti movement, which emphasized devotion and love for the divine over rituals and caste distinctions.
  • The Bhakti movement began in the 7th century in South India and spread to North India by the 14th–15th centuries.
  • Poet-saints like Ramananda and Kabir composed devotional songs in local languages, making spirituality accessible to the common people.
  • Kabir received spiritual guidance from Ramananda (a Bhakti saint) and Sheikh Taqi (a Sufi teacher), which shaped his inclusive and syncretic philosophy.
  • Kabir is venerated by both Hindus and Muslims, and his followers are known as Kabir Panthis.
  • Major Works:
    • Kabir Bijak
    • Kabir Parachai
    • Sakhi Granth
    • Kabir Granthawali (Rajasthan)
    • Verses included in the Adi Granth (Sikh scripture)
  • His works were written in Brajbhasha and Awadhi dialects, significantly contributing to Hindi literature and language development.

 

Source: PIB

 

Topic- 5: Multinational Military Exercise KHAAN QUEST

GS-2: IR

The context:

The Indian Army contingent reached Ulaanbaatar, Mongolia for the Multinational Military Exercise KHAAN QUEST, which is scheduled to be conducted from 14^th to 28^th June 2025.

The Key Highlights:

• • The exercise will bring together military forces from around the world to collaborate and enhance their peacekeeping capabilities. Last edition of Exercise KHAAN QUEST was conducted in Mongolia from 27^thJuly to 9^th August 2024.
  • The exercise first started as a bilateral event between USA and Mongolian Armed Forces in the year 2003. Subsequently, from the year 2006 onwards the exercise graduated to a Multinational Peacekeeping Exercise with current year being the 22^nd
  • The Indian Army contingent comprising 40 personnel is being represented mainly by troops from a Battalion of the KUMAON REGIMENT along with personnel from other Arms and Services. One Woman Officer and two Women Soldiers will also form part of the contingent.
  • Aim of Exercise KHAAN QUEST is to prepare Indian Armed Forces for peacekeeping missions while operating in a multinational environment, thereby increasing interoperability and military readiness in peace support operations under Chapter VII of United Nations Charter. The exercise will focus on high degree of physical fitness, joint planning and joint tactical drills.
  • Tactical drills to be practiced during the exercise will include establishment of Static and Mobile Check Points, Cordon and Search Operations, Patrolling, Evacuation of Civilians from Hostile Area, Counter Improvised Explosive Device drills, Combat First Aid and Casualty Evacuation, among others.
  • It will enable the participating countries to share their best practices in Tactics, Techniques and Procedures for conduct of joint operations. The exercise will facilitate developing inter-operability, bonhomie and camaraderie between soldiers of the participating countries.

 

Source: PIB

 

Topic- 6: Smart City Special Purpose Vehicles (SPVs)

GS-3: Economy

The context:

The Ministry of Housing and Urban Affairs (MoHUA) issued an advisory on 10th June 2025 for repurposing Smart City Special Purpose Vehicles (SPVs) after the conclusion of the Smart Cities Mission on 31st March 2025.

About Smart Cities Mission (SCM):

• • It is a Centrally Sponsored Scheme, launched in June 2015 to transform 100 cities to provide the necessary core infrastructure and clean and sustainable environment to enable a decent quality of life to their citizens through the application of “Smart Solutions”.
  • It aimed to improve the quality of life for citizens through sustainable and inclusive development.
  • Its unique feature is creation of SPVs under Companies Act, 2013, with 50:50 equity from State/UT governments and Urban Local Bodies (ULBs).

Performance of SPVs under SCM:

• • By March 2025, 93% of 8,000+ projects completed.
  • ₹47,731 crore (99.44%) of the total ₹48,000 crore budget disbursed by the Government of India.
  • SPVs demonstrated ability to deliver multi-sectoral urban projects with agility, building robust urban management capacities.

Role of ICCCs (Integrated Command and Control Centres):

• • Set up in all 100 smart cities, ICCCs emerged as urban nerve centres.
  • Enabled real-time data-driven governance for traffic, crowd management, disaster response, solid waste, and public safety.
  • States encouraged to integrate additional services and upgrade ICCC functions for enhanced city operations.

Post-Mission Vision for SPVs:

• • Government recognizes the strategic value of institutional and technological capacity built via SPVs and ICCCs.
  • SPVs to continue operations beyond March 2025 to address emerging urban challenges.
  • States/UTs, through High-Powered Steering Committees (HPSCs), to define future urban priorities for SPV engagement.

Two-fold Approach of the Advisory:

• • Short-Term: Ensure timely completion of residual SCM projects and prepare operation & maintenance (O&M) plans.
  • Long-Term: Repurpose SPVs as multi-functional, agile institutions for future urban needs.

Five Domains for Future SPV Roles:

• • Technology Support: SPVs may support ULBs in managing cyber hygiene, analytics, and data systems. ICCCs are to be leveraged as city operating systems and state analytical hubs, with operational control preferably retained by the urban development departments. SPVs may receive service-linked revenues for managing ICCC functions.
  • Project Implementation: SPVs can act as implementing agencies for Central and State schemes, developing a pipeline of bankable projects. They may levy a project implementation charge between 1.5%–3%, as per state procurement norms.
  • Consulting Support: SPVs may provide advisory support to ULBs and state departments across urban sectors, drawing on their institutional experience and sectoral expertise.
  • Research and Assessment: SPVs can aid evidence-based planning through assessments, manpower/logistics support, and coordination. They may also serve as incubation hubs for urban technology start-ups.
  • Investment Facilitation: SPVs are positioned to drive city-level economic development by supporting project structuring, procurement, and stakeholder coordination across tiers of government.

Financial Empowerment of SPVs:

• • States urged to allow SPVs to charge a ‘Centage’ (Fee) for planning, designing, and implementing State/Central projects.
  • Aims to ensure financial sustainability and operational autonomy of SPVs.

Conclusion:

MoHUA calls upon States and UTs to integrate SPVs and ICCCs into long-term urban governance frameworks, preserving the mission’s gains and building resilient urban futures.

 

Source: PIB

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