Latest Current Affairs 2026: Daily National, International, Economy, Environment & Security Updates for Competitive Exams
19 March 2026
Explore the latest current affairs of 2026 with daily updates covering important developments from India and across the world. This section provides concise and reliable news on national events, international relations, economy, environment, science and technology, security, and government schemes. Carefully curated for UPSC, SSC, Banking, State PCS, and other competitive exam aspirants, these updates highlight key facts, policy changes, reports, and global developments that are frequently asked in exams. Each topic is explained in a clear and easy-to-understand format, helping readers quickly grasp the significance and exam relevance. From major government initiatives and economic reforms to environmental issues and international agreements, our current affairs coverage ensures you stay informed and exam-ready with accurate, timely, and structured information every day.

International Affairs
1. Port of Fujairah: Strategic Oil Hub of UAE and Its Geopolitical Importance
Source: TOI
Context:
Recent missile and drone attacks targeting the Port of Fujairah and the Shah gas field (UAE) have disrupted oil loading and gas operations, highlighting the port’s strategic importance in global energy supply chains.
What is the Port of Fujairah?
The Port of Fujairah is a major deep-water, multipurpose port and one of the world’s leading oil storage and bunkering hubs.
It serves as a crucial export outlet for the United Arab Emirates’ hydrocarbon resources, especially for crude oil and refined products.
Location and Mapping Significance
- Country: United Arab Emirates (UAE)
- Emirate: Fujairah
- Coast: Eastern coast of the UAE
Sea Connectivity
- Opens directly into the Gulf of Oman / Arabian Sea
- Bypasses the Strait of Hormuz, a major global oil chokepoint
This location makes it extremely important for secure and uninterrupted energy exports.
Historical Background
- Construction began: 1978
- Operational since: 1983
The port was developed as part of the UAE’s strategy for:
- Economic diversification
- Reducing dependence on the Strait of Hormuz
Over time, it has evolved into a global energy logistics hub.
National Affairs
1. India’s Carbon Credit Plan Debate: CCUS vs Carbon Farming Explained (2026)
Source: TH
Context:
The Union Budget 2026 announced a ₹20,000 crore carbon credit programme based on the Department of Science and Technology (DST) CCUS roadmap.
However, this has created confusion between:
- Industrial decarbonisation (CCUS focus)
- Agricultural carbon credits (carbon farming narrative)
This debate highlights the need to clearly distinguish between emission reduction technologies and carbon removal strategies.
What is CCUS (Carbon Capture, Utilization, and Storage)?
CCUS is a technology-driven approach that captures carbon dioxide (CO₂) from industrial sources and either:
- Utilises it in industrial processes, or
- Stores it underground
It is mainly used in hard-to-abate sectors where emissions cannot be easily reduced through renewable energy.
Sectors Targeted Under CCUS
CCUS focuses on industries with concentrated emission sources:
- Power and refineries
- Steel and cement
- Chemicals
These sectors contribute significantly to India’s total emissions and require technological interventions.
Why Agriculture is Not Included in CCUS
Diffuse Emissions
Agricultural emissions are spread across large areas, unlike factory emissions from chimneys.
Biological Nature of Emissions
- Methane and nitrous oxide emissions are biologically generated
- Cannot be captured using mechanical systems like CCUS
Technological Mismatch
CCUS captures concentrated CO₂ streams, whereas agriculture focuses on absorbing atmospheric CO₂.
Strategic Distinction
- CCUS: Prevents new emissions (industrial mitigation)
- Carbon Farming (CDR): Removes existing CO₂ via natural processes
What is Carbon Farming?
Carbon farming refers to agricultural practices that increase carbon storage in soil and vegetation, contributing to Carbon Dioxide Removal (CDR).
Examples of Carbon Farming Practices
- Agroforestry
- Biochar application
- Conservation agriculture
- Soil organic carbon enhancement
Key Opportunities in India’s Carbon Strategy
Industrial Decarbonisation
- CCUS can help reduce emissions from sectors responsible for a large share of pollution
- ₹20,000 crore investment aims to scale these technologies
New Income Streams for Farmers
- Carbon credits can provide additional income
- Incentivises sustainable agricultural practices
Soil Carbon Sequestration
- India’s vast agricultural land can act as a carbon sink
- Enhances soil fertility and productivity
Growth of Carbon Markets
- Increasing demand for nature-based carbon credits
- Opportunities for private sector participation
Climate-Resilient Agriculture
- Supports sustainable farming practices
- Aligns with long-term environmental goals
2. PLFS Monthly Bulletin February 2026: LFPR, WPR and Unemployment Trends
Source: PIB
Context:
The National Statistical Office (NSO), Ministry of Statistics and Programme Implementation (MoSPI) released the Monthly Bulletin of the Periodic Labour Force Survey (PLFS) for February 2026.
The data highlights:
- Stability in Labour Force Participation Rate (LFPR) and Worker Population Ratio (WPR)
- Improvement in urban and female unemployment rates (UR)
What is PLFS (Periodic Labour Force Survey)?
The Periodic Labour Force Survey (PLFS) is India’s primary data source on:
- Employment and unemployment
- Labour force participation
- Workforce trends
Conducted by
- National Statistical Office (NSO), under MoSPI
Key Update (2025 onwards)
- Provides monthly and quarterly estimates
- Uses Current Weekly Status (CWS) approach for measurement
Key Labour Market Indicators
Labour Force Participation Rate (LFPR)
- Percentage of population (15+ years) that is working or seeking work
Worker Population Ratio (WPR)
- Percentage of population (15+ years) that is employed
Unemployment Rate (UR)
- Percentage of labour force that is unemployed but seeking work
Key Findings: February 2026
1. LFPR Remains Stable
- Overall LFPR: 55.9% (unchanged from January 2026)
- Rural LFPR: 58.7%
- Urban LFPR: 50.4% (slight increase)
Female LFPR
- Increased from 35.1% to 35.3%
- Rural female LFPR improved (39.7% → 40.0%)
- Urban female LFPR remained at 25.5%
2. WPR Shows Stability with Slight Improvement
- Overall WPR: 53.2% (from 53.1%)
- Rural WPR: 56.3%
- Urban WPR: 47.0%
Female WPR
- Increased from 33.1% to 33.4%
- Rural: 38.0% → 38.4%
- Urban: 23.0% → 23.3%
3. Unemployment Rate (UR) Improves
Overall UR
- Declined from 5.0% to 4.9%
Urban UR
- Fell significantly from 7.0% to 6.6%
Rural UR
- Remained stable at 4.2%
4. Female Unemployment Shows Strong Improvement
- Overall female UR declined from 5.6% to 5.1%
Urban Female UR
- Dropped from 9.8% to 8.7%
Rural Female UR
- Declined from 4.3% to 4.0%
Male UR
- Remained stable at 4.8%
3. Gyan Bharatam Mission 2026: Maharashtra’s Manuscript Survey and India’s Cultural Digitisation Drive
Source: IE
Context:
The Government of Maharashtra has launched a large-scale initiative to identify and document ancient manuscripts under the Gyan Bharatam Mission (GBM), a flagship programme of the Ministry of Culture.
This initiative forms part of a nationwide effort to survey, preserve, digitise, and disseminate India’s vast manuscript heritage.
What is the Gyan Bharatam Mission?
The Gyan Bharatam Mission is a central sector initiative aimed at:
- Surveying and documenting India’s manuscript wealth
- Conserving fragile and endangered manuscripts
- Digitising manuscripts to create a national digital repository
- Promoting access to India’s traditional knowledge systems
It is a revamped and expanded version of the National Mission for Manuscripts (2003) with greater emphasis on technology, accessibility, and scale.
Maharashtra’s Role in the Mission
Large-Scale Manuscript Survey
- State-wide initiative to locate manuscripts across:
- Temples
- Libraries
- Private collections
- Educational institutions
Institutional Coordination
- Multi-level coordination involving:
- State departments
- Academic institutions
- District-level bodies
Core Objective
- Consolidate scattered manuscript heritage
- Integrate it into a centralised and accessible national database
Key Components of the Mission
1. Survey and Documentation
- Nationwide identification and cataloguing
- Creation of metadata and classification systems
2. Conservation
- Scientific preservation of fragile manuscripts
- Restoration techniques for damaged texts
3. Digitisation
- Conversion into digital formats
- Creation of a central digital archive
4. Knowledge Dissemination
- Access for scholars, researchers, and public
- Promotion of India’s knowledge traditions
5. Technology Integration
- Use of digital tools and mobile applications
- AI-based script recognition and translation
4. Appropriation Bill 2026: Meaning, Constitutional Provisions, Process and Significance
Source: News on Air
Context:
The Appropriation Bill 2026 has been passed by Parliament, with the Rajya Sabha returning it to the Lok Sabha after discussion. The Finance Minister defended the Budget as transparent and realistic, completing a crucial step in the Union Budget process.
What is an Appropriation Bill?
An Appropriation Bill is a financial legislation that authorises the government to withdraw funds from the Consolidated Fund of India (CFI) to meet its expenditure for a financial year.
Without the passage of this Bill, the government cannot legally spend any money, even if the Budget has already been presented.
Constitutional Provisions
Article 114
- Mandates that no money shall be withdrawn from the Consolidated Fund of India except under appropriation made by law.
Article 115
- Deals with Supplementary, Additional, or Excess Grants, requiring additional appropriation.
Article 116
- Provides for Vote on Account, Vote of Credit, and Exceptional Grants.
Key Features of the Appropriation Bill
Authorisation of Expenditure
- Allows withdrawal of funds from the CFI for:
- Government schemes
- Administrative expenses
Includes Two Types of Expenditure
- Voted Expenditure: Approved by Lok Sabha
- Charged Expenditure: Not voted (e.g., salaries of President, judges, interest payments)
No Amendments Allowed
- Parliament cannot amend the Bill to:
- Change amount
- Alter destination of funds
Money Bill Status
- Classified as a Money Bill under Article 110
- Rajya Sabha:
- Cannot amend or reject
- Must return within 14 days
Role of Rajya Sabha
- Can discuss and recommend changes
- Cannot block or amend the Bill
- If not returned within 14 days, it is deemed passed
5. Economic Stabilisation Fund (2026): India’s Fiscal Buffer Against Global Shocks
Source: TH
Context:
The Finance Minister of India has announced an allocation of ₹57,381 crore for a new Economic Stabilisation Fund (ESF).
The fund is designed to help India navigate global economic uncertainties, including:
- West Asia conflict
- Oil price shocks
- Supply chain disruptions
What is the Economic Stabilisation Fund (ESF)?
The Economic Stabilisation Fund is a specialised fiscal mechanism created to provide the government with financial flexibility (fiscal headroom) to respond to unexpected economic shocks.
It acts as a buffer fund, ensuring that sudden crises do not disrupt planned government expenditure or fiscal targets.
Objective of the Economic Stabilisation Fund
Shielding the Economy from Global Headwinds
- Protect against external shocks like:
- Oil price spikes
- Geopolitical conflicts
- Trade disruptions
Maintaining Fiscal Stability
- Ensure that additional expenditure does not derail the fiscal deficit target
Ensuring Economic Resilience
- Strengthen India’s ability to absorb economic volatility
How the Economic Stabilisation Fund Works
Budgetary Allocation
- Funds are allocated through Supplementary Demands for Grants
Utilisation
- Used to finance:
- Emergency imports (e.g., energy)
- Support to affected sectors
- Crisis mitigation measures
Deficit Management
- Government balances:
- Additional expenditure
- Additional receipts
This ensures that the fiscal deficit target (around 4% of GDP for 2025–26) remains intact.
Key Features of the Economic Stabilisation Fund
Fiscal Headroom
- Allows quick financial response during crises
- Reduces delays in emergency spending
Targeted Intervention
- Focus on sectors impacted by:
- Supply chain disruptions
- Global commodity price volatility
Deficit Neutrality
- Designed to avoid breaching fiscal deficit targets
Macroeconomic Stability Tool
- Acts as a safeguard for:
- Growth
- Inflation control
- External sector stability
Large Initial Corpus
- ₹57,381 crore forms a major part of:
- ₹2.01 lakh crore net additional spending approved by Lok Sabha
6. Transgender Rights Amendment Bill 2026: Key Changes, Constitutional Issues and Debate
Source: IE
Context:
The Transgender Persons (Protection of Rights) Amendment Bill, 2026 has been introduced in the Lok Sabha to amend the Transgender Persons (Protection of Rights) Act, 2019.
The proposed amendments have triggered significant debate as they appear to revisit principles laid down in the landmark NALSA v. Union of India (2014) judgment.
What is the Right to Self-Perceived Gender Identity?
The right to self-perceived gender identity means that individuals can identify their gender based on their own internal sense of identity, without external validation.
Constitutional Basis
- Recognized under Article 21 (Right to Life and Personal Liberty)
- Affirmed by the Supreme Court in NALSA (2014)
Key Principle
- No requirement of:
- Medical examination
- Sex Reassignment Surgery (SRS)
- Identity is based on self-declaration
Key Changes Proposed in the Amendment Bill
1. Removal of Self-Identification Provision
- Deletion of Section 4(2) of the 2019 Act
- Removes explicit legal recognition of self-perceived gender identity
2. Redefinition of “Transgender Person”
The Bill introduces a narrower definition focusing on:
- Socio-cultural identities (hijra, kinner, aravani, etc.)
- Intersex variations and congenital biological conditions
Excludes:
- Individuals identifying solely through self-perception
- Persons outside specified categories
3. Introduction of Medical Authority
- Establishment of a medical board led by the Chief Medical Officer (CMO)
- Responsible for:
- Verification of identity
- Recommendation for certification
4. Revised Certification Process
Earlier (2019 Act):
- Based on self-declaration affidavit
Now (Proposed):
- Certification issued by District Magistrate
- Requires medical board recommendation
- Provision for expert consultation
5. Mandatory SRS-Based Certification
- Individuals undergoing Sex Reassignment Surgery (SRS) must:
- Apply for revised certificate
- Ensure reporting by medical institutions
6. Documentation Rights
- Allows change of name and gender in official records
- Conditional upon meeting revised eligibility criteria
7. Stronger Penal Provisions
- Expanded offences against transgender persons
- Punishments include:
- Rigorous imprisonment (up to life)
- Fines up to ₹5 lakh
7. BHAVYA Scheme 2026: ₹33,660 Crore Plan for 100 Plug-and-Play Industrial Parks in India
Source: Mint
Context:
The Union Cabinet has approved the Bharat Audyogik Vikas Yojana (BHAVYA) with a total outlay of ₹33,660 crore.
The scheme aims to develop 100 plug-and-play industrial parks across India by 2032 to boost manufacturing, improve infrastructure, and enhance ease of doing business.
What is the BHAVYA Scheme?
The BHAVYA Scheme is a major industrial development initiative focused on creating ready-to-use industrial ecosystems with modern infrastructure and seamless connectivity.
It is designed to:
- Accelerate industrialisation
- Attract domestic and foreign investment
- Strengthen India’s manufacturing base
Key Highlights of the Scheme
- Total Outlay: ₹33,660 crore
- Target: 100 industrial parks
- Timeline: 6 years (2026–27 to 2031–32)
- Phase 1: Development of 50 industrial parks
- Integration: Linked with PM GatiShakti for multimodal connectivity
Key Features of BHAVYA Scheme
1. Plug-and-Play Infrastructure
- Ready-to-use industrial facilities
- Pre-approved clearances and utilities
- Reduced time for business setup
- Increased efficiency and productivity
2. Land Requirements
- Standard parks: Minimum 100 acres
- Hilly/Northeast regions: Minimum 25 acres
- Maximum size: 1,000 acres
This ensures inclusivity and supports regional development.
3. Financial Support
- Central assistance up to ₹1 crore per acre
- Encouragement of Public-Private Partnerships (PPP)
- Shared investment model
4. Multi-Stakeholder Model
Involvement of:
- Central Government
- State Governments
- Private sector
Ensures coordinated and efficient implementation.
Focus Areas of the Scheme
Manufacturing Competitiveness
- Enhances industrial capacity
- Supports “Make in India”
Infrastructure Modernisation
- World-class industrial ecosystems
- Smart industrial zones
Logistics Efficiency
- Integration with PM GatiShakti
- Improved supply chain and connectivity
Regional Development
- Special focus on:
- Northeast
- Hilly regions
- Balanced industrial growth
Banking News
1. D-SIBs in India: RBI Framework, HDFC Bank Context and Financial Stability Explained
Source: TH
Context:
The Reserve Bank of India (RBI) reassured markets regarding HDFC Bank following the resignation of its chairman, stating that the bank continues to remain a Domestic Systemically Important Bank (D-SIB) with strong governance and financial resilience.
This brings focus to the concept of “Too Big to Fail” banks in India.
What are Systemically Important Banks (D-SIBs)?
Domestic Systemically Important Banks (D-SIBs) are banks whose failure could:
- Disrupt the financial system
- Trigger systemic risks
- Impact the broader economy
They are often referred to as “Too Big to Fail” institutions due to their critical role in the financial system.
Key Features of D-SIBs
1. Systemic Importance
D-SIBs are identified based on:
- Large size
- Extensive operations
- Interconnectedness with:
- Financial institutions
- Markets
- Economy
2. RBI Framework (2014)
- Introduced by RBI in 2014
- Annual assessment of banks
- Based on Systemic Importance Score (SIS)
3. Bucket Classification
- Banks are placed into different risk buckets
- Higher bucket = higher systemic risk
- Determines level of regulatory requirements
4. Additional Capital Requirement
D-SIBs must maintain an extra capital buffer in the form of:
- Common Equity Tier-1 (CET1) capital
This enhances their ability to absorb financial shocks.List of D-SIBs in India
Currently, India has three designated D-SIBs:
- State Bank of India (SBI)
- HDFC Bank
- ICICI Bank
Why are D-SIBs Important?
1. Financial Stability
- Ensures stability of the banking system
- Maintains public confidence
2. Prevention of Systemic Risk
- Reduces chances of:
- Banking crises
- Contagion effects
3. Smooth Credit Flow
- Supports uninterrupted lending
- Critical for economic growth
4. Enhanced Regulatory Oversight
D-SIBs are subject to:
- Stricter supervision
- Risk management standards
- Recovery and resolution planning
Regulatory Safeguards for D-SIBs
- Higher capital adequacy requirements
- Continuous monitoring by RBI
- Stress testing and risk assessment
- Crisis management frameworks
Classification of Banks in India
1. Ownership-Based
- Public Sector Banks
- Private Sector Banks
- Foreign Banks
2. Functional Classification
- Commercial Banks
- Small Finance Banks
- Payments Banks
3. Regulatory Classification
- Scheduled vs Non-Scheduled Banks
- Differentiated Banks
Note:
D-SIB classification is cross-cutting, meaning it applies across these categories.
2. UPI Global Expansion & Scapia Pay Launch (2026): Digital Payments Ecosystem in Focus
Context:
India’s digital payment ecosystem continues to expand globally and domestically:
- NPCI International Payments Limited (NIPL) has expanded UPI merchant acceptance in Sri Lanka
- Scapia, a travel fintech platform, has launched Scapia Pay, enabling UPI payments via RuPay credit cards
These developments highlight India’s growing leadership in real-time digital payments and fintech innovation.
UPI Expansion in Sri Lanka by NIPL
What is the Initiative?
In March 2026, NPCI International Payments Limited (NIPL) expanded the acceptance of Unified Payments Interface (UPI) across merchant establishments in Sri Lanka.
This allows Indian users to make seamless digital payments while traveling abroad.
Objective of the Expansion
Enhancing Cross-Border Payments
- Enable Indian tourists to make real-time payments abroad
- Reduce dependency on cash and forex
Strengthening Bilateral Ties
- Supports economic and cultural relations between India and Sri Lanka
UPI Ecosystem: Key Facts
- Processes 20+ billion transactions monthly
- Over 700 million QR touchpoints in India
- Operational in 8+ countries, including:
- UAE
- Singapore
- Bhutan
- Nepal
- Sri Lanka
- France
- Mauritius
- Qatar
What is Scapia Pay?
Scapia Pay is a newly launched in-app UPI payment service that allows users to make payments using RuPay credit cards while earning rewards.
Objective of Scapia Pay
- Integrate:
- Daily payments
- Credit usage
- Travel rewards
- Create a unified fintech ecosystem
Agriculture
1. Budget 2026 Carbon Credit Programme: CCUS vs Carbon Farming
Source: TH
Context:
The Union Budget 2026 announced a ₹20,000 crore carbon credit programme, leading to confusion regarding its actual focus:
- Industrial decarbonisation (CCUS-based approach)
- Agriculture-based carbon income (carbon farming)
Official indications suggest that the programme is primarily aimed at industrial carbon capture technologies (CCUS) rather than agricultural carbon credits.
Core Issue: Two Competing Interpretations
1. Industrial Focus (CCUS)
- Targets hard-to-abate industries
- Focus on reducing emissions at source
2. Agriculture Focus (Carbon Farming)
- Expected to provide income opportunities for farmers
- Based on carbon sequestration in soil
The confusion arises due to the broad use of the term “carbon credit programme”.
What is CCUS (Carbon Capture, Utilization, and Storage)?
CCUS is a technology-driven climate solution that involves:
- Capturing CO₂ emissions from industrial sources
- Utilizing captured carbon in industrial processes
- Storing it underground to prevent atmospheric release
It is a key tool for achieving deep decarbonisation in industrial sectors.
What Does CCUS Target?
Hard-to-Abate Industries
CCUS focuses on sectors where:
- Emissions are concentrated (point sources)
- Decarbonisation through renewables is difficult
Key Target Sectors
- Power and refineries
- Steel and cement
- Chemicals
These sectors contribute significantly to India’s industrial carbon emissions.
Why Agriculture is NOT Included in CCUS
1. Diffuse Emission Sources
- Agricultural emissions are spread across:
- Fields
- Soil
- Livestock
- No central point for capture
2. Biological Nature of Emissions
- Major gases:
- Methane (CH₄)
- Nitrous oxide (N₂O)
- Generated through biological processes, not combustion
3. Technological Mismatch
- CCUS works on:
- High-concentration CO₂ streams
- Agriculture involves:
- Low-density, dispersed emissions
Agriculture’s Role: Carbon Dioxide Removal (CDR)
Instead of CCUS, agriculture contributes through Carbon Dioxide Removal (CDR):
Key Methods
- Soil carbon sequestration
- Agroforestry
- Biochar application
- Regenerative agriculture
These methods:
- Absorb CO₂ from the atmosphere
- Enhance soil health and productivity
CCUS vs Carbon Farming
| Aspect | CCUS | Carbon Farming |
|---|---|---|
| Type | Industrial technology | Nature-based solution |
| Function | Prevent emissions | Remove CO₂ |
| Source | Factories (point source) | Farms (diffuse source) |
| Mechanism | Capture & store CO₂ | Soil & biomass sequestration |
| Policy Focus | Budget 2026 allocation | Separate policy needed |
2. Coconut Promotion Scheme 2026: India’s Strategy to Boost Productivity and Exports
Source: TOI
Context:
The Government of India, in the Union Budget 2026–27, announced the Coconut Promotion Scheme to strengthen the coconut sector, where India is the largest producer globally with a 30.37% share.
The scheme is part of a broader ₹350 crore allocation for high-value crops, including coconut, cashew, and cocoa.
What is the Coconut Promotion Scheme?
The Coconut Promotion Scheme is a Central Sector Scheme aimed at:
- Enhancing coconut productivity
- Improving quality of produce
- Promoting value addition and exports
- Strengthening farmer livelihoods
Scheme Status
- Currently under formulation
- State-wise fund allocation yet to be finalised
Objectives of the Scheme
Increase Production and Productivity
- Replace low-yielding and ageing plantations
- Promote modern farming practices
Enhance Farmer Income
- Improve yield and market value
- Encourage diversification into value-added products
Improve Global Competitiveness
- Enhance quality standards
- Boost exports of coconut-based products
Promote Value Addition
- Support processing industries
- Develop branding and export-oriented products
Key Features of Coconut Promotion Scheme
1. Replantation and Rejuvenation
- Replacement of:
- Old and senile coconut trees
- Low-yielding varieties
- Introduction of high-yielding cultivars
2. Improved Varieties
- Promotion of:
- Disease-resistant varieties
- Climate-resilient cultivars
This ensures sustainability under changing climatic conditions.
3. Productivity Enhancement
- Adoption of:
- Scientific agronomic practices
- Efficient irrigation systems
- Balanced nutrient management
4. Value Addition and Processing
- Encouragement for:
- Coconut-based industries
- Processing units
- Branding and exports
- Focus on products like:
- Coconut oil
- Coir products
- Coconut water
- Processed coconut goods
5. Farmer Livelihood Support
- Targeted interventions to:
- Improve income security
- Generate rural employment
- Strengthen the coconut value chain
India’s Position in Coconut Production
- Global Rank: 1st
- Share in Global Production: 30.37%
- Annual Production: 21,373.62 million nuts
India’s leadership highlights the importance of improving productivity and export competitiveness.