Daily Current Affairs- 24th January 2026

Daily Current Affairs- 24th January 2026

The Indian Constitution: 5 Terms in the Preamble You Should Know

In the News: The Preamble of the Indian Constitution, often called the "heart" of the Constitution, the Objectives Resolution (which became the basis for the Preamble) was adopted on January 22, 1947, but the actual Preamble of the Constitution was adopted by the Constituent Assembly on November 26, 1949, and came into force on January 26, 1950. The Preamble declares India to be a Sovereign, Socialist, Secular, Democratic Republic and promises Justice, Liberty, Equality, and Fraternity to its citizens.

Key Points:

• What is the Preamble: The Preamble is the opening statement of the Constitution that explains the basic ideas, values, and goals guiding India as a nation. Beginning with "We, the people of India…", it establishes that ultimate power belongs to the people. While it does not give direct legal rights, it helps in understanding and interpreting India's laws.
• Sovereign: India is fully independent and can make its own rules and decisions without outside interference. No other country can control India's choices. Sovereignty demonstrates India's freedom to make decisions for the welfare of its people.
• Socialist: Resources and wealth should be shared fairly among all people, ensuring everyone has access to education, work, and basic facilities. Socialism supports cooperative systems where communities share resources and aims to reduce inequality, helping all citizens live better lives.
• Secular: The government treats all religions equally with no special preference given to any faith. Everyone is free to follow their own beliefs. Secularism enables people of different faiths to live together peacefully, ensuring the state does not favor one religion over another.
• Democratic and Republic: Democracy means people have the power to choose their government through voting in regular elections, ensuring everyone has a voice. A republic means the head of state (President) is elected for a fixed term rather than chosen by birth or inheritance, distinguishing India's governance system.
• Justice, Liberty, Equality, and Fraternity: Justice: Fair treatment for everyone in social, economic, and political matters, with discrimination removed and rights protected. Liberty: Freedom to think, speak, and follow one's religion, with limits to maintain order and harmony. Equality: Every person treated equally regardless of caste, gender, or religion, with equal opportunities in life. Fraternity: Citizens should respect each other as brothers and sisters, working together for national unity.

The 21-Gun Salute: Why It Does Not Use 21 Guns?

In the News: The 21-gun salute is one of the highest military honors in the world, performed to show great respect to presidents, kings, queens, and fallen soldiers. Despite its name, it does not actually use 21 separate guns but rather involves firing cannons or artillery guns 21 times in succession. This ceremonial tradition has deep historical roots dating back to naval customs and became an official practice in the U.S. Navy in 1818, later formalized as the highest honor in 1875.

Key Points:

• What is a 21-Gun Salute: A ceremonial honor in which cannons or artillery guns are fired 21 times, not rifles. The salute is performed slowly and with discipline to show respect, dignity, and honor. It is distinct from the three-volley salute used at military funerals, which uses rifles and is lower in status.
• Historical Origins: The number 21 comes from old naval traditions when warships fired their guns to show friendly intentions. Ships usually had seven cannons, and when they fired all seven, forts on land replied with three shots for each one, totaling 21. By the early 1700s, Britain had officially adopted this practice, with the United States following later.
• Official Adoption: In 1818, the U.S. Navy included the 21-gun salute in its official rules. By 1875, it became the formal highest honor in the United States and matched international standards followed by many other countries.
• When It Is Performed: Performed on important occasions including funeral of a president or national leader, national holidays like Independence Day and Memorial Day, presidential swearing-in ceremonies, visits by foreign leaders or royal family members, and special national days to remember great leaders from history.
• Execution Protocol: Follows strict rules with cannons fired one at a time with gaps of a few seconds between each shot. Only trained military units perform this ceremony using blank ammunition for safety. At funerals, the salute is usually followed by the bugle call "Taps" to create a moment of silence and respect.

Davos 2026: Detailed Key Takeaways from the World Economic Forum

In the News: The World Economic Forum's Annual Meeting 2026 concluded in Davos, Switzerland, bringing together nearly 3,000 global leaders from over 130 countries under the overarching theme "A Spirit of Dialogue." The summit featured a record number of political leaders including more than 60 heads of state, 400+ political leaders, and 830 CEOs and Chairs.

Key Points:

• US-Europe Relations Under Strain: A major rupture between the US and Europe emerged as a recurrent topic, with Harvard Professor Gita Gopinath warning of a "complete breakdown of trust" that could mark a "once-in-century" breakdown of the global order. European Commission President Ursula von der Leyen responded by calling for "a new independent Europe," stating "if this change is permanent, then Europe must change permanently too." However, California Governor Gavin Newsom offered hope, describing transatlantic relations as "dormant not dead."
• Major Diplomatic Breakthroughs: US President Donald Trump reversed his position on Greenland, stating he "won't use force" to acquire it after initially threatening "excessive strength and force." Trump and NATO Secretary-General Mark Rutte announced a Greenland "framework deal" enhancing Arctic security while averting tariff threats. Ukrainian President Volodymyr Zelenskyy met with Trump to finalize security guarantees and announced trilateral talks (US-Ukraine-Russia) beginning January 23 in Abu Dhabi.
• Historic Trade Agreements and Economic Deals: European Commission President Ursula von der Leyen announced the EU and India were "on the cusp" of a historic free trade agreement, calling it "the mother of all deals" that would create a market of 2 billion people. UK Chancellor Rachel Reeves secured deals worth more than $2 billion in private investment.
• Artificial Intelligence Governance and Impact: AI emerged as one of the most critical themes, with discussions focusing on balancing innovation with protection. IMF Managing Director Kristalina Georgieva warned that 40% of jobs globally will be impacted by AI over the next couple of years (60% in advanced economies), either transformed or eliminated
• Global Risks and Systemic Challenges: The Global Risks Report 2026 showed extr.eme weather events dropped from second to fourth place, not because they are less urgent, but because geoeconomic fragmentation and societal polarization have become more pressing. Leaders warned of multiple interconnected crises including public debt problems in developing countries (spending more on debt repayments than healthcare and education), humanitarian aid sector shrinking by 50% in 2024, and energy security risks multiplying to unprecedented levels.

As Trump Reverses Greenland Tariff Threats, Spotlight Back on TACO Effect

In the News: US President Donald Trump's pattern of escalating economic threats followed by rapid de-escalation has revived discussion around the TACO trade (Trump Always Chickens Out). In January 2026, Trump threatened to invade Greenland and levy tariffs on eight European allies unless they supported a "Complete and Total purchase of Greenland" by the US. After European resistance and a significant market downturn on January 20, 2026, Trump reversed course at the World Economic Forum in Davos, announcing a "framework of a future deal" with NATO Secretary-General Mark Rutte and backing off his tariff threats.

Key Points:

• The Greenland Escalation and Reversal: Trump refused to rule out invading Greenland by force and threatened fresh tariffs on eight European allies to pressure support for purchasing Greenland from Denmark. On January 20, 2026, three major US stock indexes fell significantly (Dow fell 1.8%, S&P 500 dropped 2%, Nasdaq fell 2.4%) for the first time since October 2025.
• Origin of TACO Trade: The term "Trump Always Chickens Out" (TACO) was first coined by Financial Times commentator Robert Armstrong in May 2025 while reflecting on the aftermath of Trump's Liberation Day tariff announcements.
• Liberation Day Tariff Pattern (April 2025): On April 2, 2025, Trump announced a 10% baseline tariff on all trading partners and country-specific rates on nations with which the US maintains trade deficits. He subsequently relaxed the latter for 90 days, vowing to conclude 90 trade deals favoring the US's balance of trade. This set the precedent for the escalation-de-escalation pattern that would become known as the TACO effect.
• European Union Tariff Reversal (May 2025): Trump threatened to increase tariffs on the European Union to 50% in May 2025 but reversed this decision two days later after talking to EU leaders, resulting in a market rally. This demonstrated the pattern where market pressure and diplomatic resistance led to rapid policy reversals.
• Investment Opportunities from TACO: A 2025 study by Nomura strategist Charlie McElligott showed that investors shorting (betting against) S&P 500 Futures when Trump announced tariff threats, then buying them days later, would have earned a 12% return since February 2025. In contrast, merely holding stocks would not have significantly changed investors' portfolios despite significant market swings, making the TACO pattern an excellent opportunity for strategic traders.

Gujarat Witnesses Launch of India’s First Integrated Private Satellite Manufacturing Unit at Sanand

In the News: India has taken a major step in space technology with the foundation stone laying ceremony for the country's integrated private satellite manufacturing facility at Khoraj in Sanand, Gujarat. Launched by Azista Space, the facility named Palmnaro marks a new chapter in India's growing space sector. Azista BST Aerospace ALREADY operates "Asia's first private satellite factory" in Ahmedabad/Sanand since earlier, with capacity for 50-250 satellites per year.

Key Points:

• Azista Space's Palmnaro Facility: The new facility is being established by Azista Space and will focus on building satellites and high-end electro-optical payloads. Named Palmnaro, the plant is designed to support end-to-end satellite manufacturing under one roof, representing India's first integrated private satellite manufacturing unit.
• Location and State Support: The foundation stone was laid at Khoraj in Sanand, Gujarat, with the groundbreaking ceremony held in the presence of Gujarat's Minister for Science and Technology, Arjun Modhwadia.
• Aerospace Ecosystem Development: The facility will support the growth of the aerospace manufacturing ecosystem by attracting talent, encouraging research, and supporting startups linked to satellite and space technology development.

Reusable Launch Vehicle (RLV) Technology

In the News: The global space sector is undergoing a transformative shift from government-led exploration to private-driven commercial activity, with Reusable Launch Vehicle (RLV) technology emerging as a key disruptor. The space market is projected to exceed USD 1 trillion by 2030, with reusability reducing launch costs by 5–20 times, enabling more sustainable and frequent access to space.

Key Points:

• Definition and Concept: An RLV is a space launch system designed to allow for the recovery of some or all of its component stages. Unlike "expendable" rockets that burn up or are discarded in the ocean after a single use, RLVs return to Earth to be refurbished and flown again.
• Scientific Constraint - Tsiolkovsky Rocket Equation: Rocket motion is governed by the Tsiolkovsky rocket equation, which reveals that carrying fuel itself adds weight, and additional weight demands even more fuel. This creates a brutal reality: over 90% of a rocket's mass at liftoff consists of propellant and fuel tanks, leaving less than 4% for payload.
• Role of Staging: Staging divides a rocket into multiple propulsion units that are discarded sequentially during ascent to shed dead weight, improving performance by allowing the remaining rocket to accelerate with reduced mass. RLV systems aim to recover and reuse critical stages (especially the first stage), combining staging with reusability for maximum efficiency.
• SpaceX Falcon 9 - Industry Benchmark: SpaceX pioneered partial reusability through innovations including 3D-printed components, modular design, vertical integration, and automated landing systems. SpaceX has successfully landed Falcon 9 boosters 546 times.  
• ISRO's RLV-TD (Pushpak): India's Reusable Launch Vehicle – Technology Demonstrator is a winged technology demonstrator that simulates aircraft-like landing. ISRO successfully conducted the LEX (Landing Experiment) series including LEX-01, LEX-02, and LEX-03 using the 'Pushpak' vehicle to test autonomous horizontal landing capabilities, demonstrating India's commitment to developing indigenous reusable launch technology.