Daily Current Affairs | April 3 2025

1) Cape Town Convention

• The Rajya Sabha passed the Protection of Interests in Aircraft Objects Bill, 2025, on Tuesday, which seeks to implement international conventions on the leasing of aviation equipment.

• The International Convention which this bill seeks to implement is called “Cape Town Convention”.

• Civil Aviation Minister Kinjarapu Rammohan Naidu said the new Bill will provide a boost to the aircraft leasing industry.

Cape Town Convention

• It is an international treaty adopted in 2001 and supplemented with Aircraft Protocol.

• It deals with asset financing and leasing of : Aircrafts, Helicopters and Aircraft Engines.

• Key Features : Standardised Legal Framework; Creditor Protection; Global Registry System; and Cross-Border Enforceability.

• Objectives: Protect lessors and creditors by offering legal remedies in case of default; and Reduce cross-border legal complexities in aircraft leasing and financing.

Aircrafts Objects Bill 2025

• A bill passed by the Indian Parliament to domestically implement the Cape Town Convention and Aircraft Protocol.

• Objectives :

  • Provide legal clarity to aircraft leasing transactions.

  • Align Indian law with international aviation leasing standards.

  • Lower aircraft leasing costs.

  • Make India a global hub for aviation financing and leasing.

• India has been working to develop a domestic aircraft leasing market (like Ireland or Singapore).

• Benefits : Increase investor confidence; Bring in foreign lessors and aviation financiers; Help India retain aircraft leasing revenue instead of losing it to overseas hubs.

Key Features

• Legal Enforceability: Grants full legal status to the Cape Town Convention and Protocol within India.

• Creditor Remedies in Default: Allows repossession of aircraft within 2 months of lessee default (or as per contract).

• DGCA as Domestic Registry: Designates the Directorate General of Civil Aviation (DGCA) to maintain a registry of: Aircraft ownership; Financial interests; Dues and obligations.

• Mandatory Reporting: Requires airlines and lessors to periodically report: Outstanding dues; Leasing activity; Any defaults or disputes

• Boost to Leasing Sector: Expected to cut leasing costs by 8–10%; Could attract global investors; Potentially reduce airfare for passengers through cheaper financing.

2) Open Weight AI Model

• OpenAI CEO Sam Altman has announced the launch of the company’s first “open weight” language model since GPT-2.

• This is a strategic shift for OpenAI, which has largely operated with closed-source models since GPT-2.

• Reasons - Competition from China’s DeepSeek and Meta who have already released Open Weight Models.

About these Models

• These AI models provide access to model weights, architecture, and training data to developers to modify, fine-tune or deploy models on their own infrastructure.

• Benefits:

  • Encourages innovation and transparency.

  • Allows custom applications and community contributions.

• Limitations:

  • Often limited use-cases.

  • May not be as powerful as proprietary counterparts.

  • OpenAI had previously refrained due to security, misuse, and cost concerns.

Comparisons with Rivals

• Meta:

  • Released LLaMA (Large Language Model Meta AI) models.

  • LLaMA has had over a billion downloads.

  • Criticised for restrictive licensing and limited model size in earlier versions.

• DeepSeek (China):

  • Showed that large models can be open-sourced and competitive.

  • Proved to be a turning point that possibly influenced OpenAI’s decision.

3) Chagos Deal between UK & Mauritius

• The UK and Mauritius are finalising a deal to transfer sovereignty of the Chagos Islands. The islands are currently a UK overseas territory but are claimed by Mauritius.

• The archipelago includes Diego Garcia, a crucial US military base in the Indian Ocean used for naval and bomber operations.

• Despite the sovereignty transfer, the UK would lease back the base to the US for at least 99 years.

Context

• Chagos Islands were separated from Mauritius by Britain in 1965, three years before Mauritius gained independence.

• UK named it the British Indian Ocean Territory. Mauritius has long argued that the separation was illegal under international law and has pushed for reunification.

• The International Court of Justice (ICJ) issued an advisory opinion on this issue in 2019, saying that UK is under obligation to end its administration of the region.

About Chagos Archipelago

• The Chagos Archipelago is located in the central Indian Ocean, roughly 1,000 miles (1,600 km) south of the southern tip of the Indian subcontinent.

• It consists of more than 60 low-lying islands, comprising seven atolls.

• Diego Garcia is the largest island in the archipelago, with a land area of 32.5 sq km.

• The islands are located about 500 kilometers (310 miles) south of the Maldives archipelago.

• Brief History :

  • In 1814, France ceded the islands to Britain along with Mauritius.

  • In 1965, the UK separated the Chagos Islands, renaming them the British Indian Ocean Territory (BIOT).

  • In 1966, Britain leased Diego Garcia to the US for use as a military base.