.png)
International News
India Among Hardest Hit in Trump's Tariff Retaliation
- India was hit with a 25% tariff, one of the highest in South Asia, citing “obnoxious non-monetary trade barriers” and strong ties with Russia.
- Other regional competitors like Pakistan (19%), Bangladesh (20%), and Sri Lanka (20%) faced slightly lower rates.
- Despite the blow, India has opted not to retaliate at the WTO and continues negotiating a bilateral trade agreement with the US, expected to be finalized by Fall 2025.
UIDAI partnered with Starlink for Aadhaar-based verification
- Starlink India was designated as a Sub-Authentication User Agency (Sub-AUA) and Sub-eKYC User Agency (Sub-KUA), allowing secure, paperless customer verification.
- This initiative aims to connect remote regions using satellite internet while ensuring regulatory compliance.
- Over 20 lakh users are expected to be onboarded in the initial phase.
- The move highlights India’s digital infrastructure capabilities and supports transparent service delivery.
- Starlink is also collaborating with Bharti Airtel and Reliance Jio for distribution.
National News
Cabinet Approves Rs. 6520 Cr Outlay for PMKSY During 15th FCC
- ₹1,920 crore added to strengthen components like value addition, cold chain, etc.
- ₹1,000 crore allocated for:
- 50 Food Irradiation Units under ICCVAI
- 100 NABL-accredited Food Testing Labs under FSQAI
- Goal: Reduce post-harvest losses and enhance food safety/export potential
- Launched in 2017, PMKSY focuses on food processing infrastructure and modernization
- Expected to raise preservation capacity by 20–30 lakh metric tonnes/year
- Enhances India's competitiveness in food processing and long-term food security.
Google to Build a 1-GW Data Centre Worth USD 6 Billion in Visakhapatnam, AP
- Includes USD 2 billion for renewable energy infrastructure (solar & wind) to power the facility sustainably
- Part of Alphabet’s USD 75 billion global expansion of cloud and AI infrastructure in 2025
- Will support cloud computing, AI applications, and massive data storage needs
- Strengthens Visakhapatnam’s position as a digital hub, with plans for 3 cable landing stations and chip design centres
- Aligns with Google’s goal of 24/7 carbon-free operations by 2030
Banking
India's foreign exchange reserves rose sharply to $2.7 billion in July
- India’s forex reserves rose by $2.703 billion to $698.192 billion (week ending July 25, 2025).
- Foreign Currency Assets (FCA): Up $1.316 billion to $588.926 billion.
- Gold Reserves: Increased by $1.206 billion to $85.704 billion.
- Special Drawing Rights (SDRs): Rose $126 million to $18.809 billion (held with IMF).
- Reserves now cover 11 months of imports and 96% of external debt.
Choice AMC Receives SEBI Approval to Start MF Business
- Focus: Launching with passive investment products like Index Funds and Exchange Traded Funds (ETFs).
- Objective: Build a stable, scalable, and professionally managed AMC under strong regulatory governance.
- Target Segments: Retail, emerging affluent, and institutional investors across India.
- Vision: Democratize access to modern financial tools like SIPs and goal-based investing.
This digest is not complete. Read the complete digest on the General Awareness Course.
