Donald Trump raises taxes on Chinese imports to 125%, pauses tariffs on most nations for 90 days

U.S. President Donald Trump on Wednesday (April 9, 2025) raised tariffs on China to 125%, hours after China boosted taxes on American imports to 84% and vowed to “fight to the end” in an escalating battle that threatens to disrupt trade between the world’s two largest economies.

Cabinet Committee on Security approves $7-billion deal to procure 26 Rafale Marine jets from France

The Cabinet Committee on Security (CCS) approved the deal for 26 Rafale Marine fighter jets from France for the Indian Navy worth over $7bn, official sources confirmed on Wednesday. This includes 22 single seater jets that can operate off aircraft carriers and four twin seater trainers that aren’t carrier compatible. The CCS approval for the Government-to-Government deal is the final step and now awaits formal conclusion, which is expected to be inked when the French Defence Minister visits India, likely later this month. This approval leaves another mega deal with France for three more Scorpene-class conventional submarines awaiting CCS approval before it can be concluded.

MPC cuts repo rate by 25 basis points, changes stance to accommodative

The Monetary Policy Committee (MPC) of the Reserve Bank of India (RBI) voted unanimously on Wednesday to reduce the policy rate (repo rate) by 25 basis points (bps) to 6% with immediate effect. This is the second time in a row that the MPC has cut rates by 0.25%. Consequently, the standing deposit facility (SDF) under the liquidity adjustment facility (LAF) will stand adjusted to 5.75%. The MPC also changed its stance from neutral to accommodative, considering the current global economic situation.

RBI Governor Malhotra hints at more in coming months after two back-to-back cuts

After effecting two back-to-back 25 basis points rate cuts, Reserve Bank Governor Sanjay Malhotra on Wednesday (April 9, 2025) hinted at another reduction in key policy rate by changing the central bank’s monetary stance to ‘accomodative’ from ‘neutral’, which may further lower EMIs for consumers. The bi-monthly monetary policy is scheduled to be announced on June 6, 2025. Unveiling the April monetary policy after meeting of the Monetary Policy Committee (MPC), Governor Malhotra said that in the context of the RBI, the stance of monetary policy signals the intended direction of policy rates going forward.

Nirmala Sitharaman chairs India-U.K. investors meeting, highlights India’s investment opportunities

India offers a compelling growth opportunity for foreign banks, Finance Minister Nirmala Sitharaman told investors in the U.K. Ms. Sitharaman’s remarks came as she chaired an India-U.K. Investor Roundtable in London, attracting around 60 U.K. investors representing various pension funds, insurance companies, banks and other financial institutions. According to the Ministry of Finance, the high-level roundtable on Tuesday (April 8, 2025) evening outlined the priorities of the government for enabling sustained economic growth and investment opportunities, with the policy support that is shaping “New India”.

Cabinet approves ₹1,878-cr Zirakpur Bypass road project in Punjab, Haryana

The Union Cabinet on Wednesday approved a 19.2-km Zirakpur Bypass road project in Punjab and Haryana to be built at a cost of ₹1,878.31 crore. “The six-lane Zirakpur Bypass will start from the Junction with NH-7 (Zirakpur-Patiala) and end at the Junction with NH-5 (Zirakpur-Parwanoo) with a total length of 19.2 km in Punjab and Haryana. The total capital cost of the project is ₹1,878.31 crore,” an official release said.

Tahawwur Rana enroute to India, set to face trial in 26/11 attack case

Tahawwur Hussian Rana, the Pakistani-origin Canadian-American wanted for the 26/11 Mumbai terror attacks conspiracy has been extradited by the United States, and is expected in India on Thursday (April 10, 2025), to face trial 17 years after the attacks that killed more than 166 people in 2008.  As Tahawwur Rana, one of the co-conspirators in the 26/11 Mumbai terror attacks, is set to be extradited to India on Thursday, former Union Home Secretary G.K Pillai said on Wednesday that Rana had a “small role” to play in the carnage but the main conspirator was protected by the U.S.

Wall Street surges to one of its best days since WWII after Trump pauses many of his tariffs

U.S. stocks soared to one of their best days in history on a euphoric Wall Street on Wednesday (April 9, 2025) after President Donald Trump said he would back off on most of his tariffs temporarily, as investors had so desperately hoped he would.

Supreme Court to hear Waqf law challenge on April 16

Petitions challenging the constitutionality of the Waqf (Amendment) Act, 2025 have been listed for hearing on April 16, 2025.

India better off than others in tariff row: RBI Governor

The tariff war unleashed by U.S. President Donald Trump and its global implications have forced the Reserve Bank of India’s monitory policy body to cut growth rate by 20 basis points (100 basis point is 1%) for FY25, as resultant economic uncertainties underpinned the decision.

Two encounters rage in J&K’s Udhampur, Kishtwar: Officials

Security forces engaged militants in two separate gunfights in the Udhampur and Kishtwar districts of the Jammu region on Wednesday (April 9, 2025), officials said.

Thirteen killed after lightning strikes in Bihar

Thirteen people lost their lives in separate incidents after being struck by lightning across Bihar on Wednesday (April 9, 2025) amid sudden thunderstorms lashing the State.

China raising its retaliatory tariff on the U.S. to 84%, up from 34%, effective April 10

China has raised tariffs to 84% on goods coming from the U.S. in an additional countermeasure. Last week, China said it would levy 34% tariffs on all U.S. goods. On Wednesday, Mr. Trump’s tariffs of 104% went into effect on Chinese exports to the U.S. The government declined to say whether it would negotiate with the White House, as many other countries have started doing. “If the U.S. insists on further escalating its economic and trade restrictions, China has the firm will and abundant means to take necessary countermeasures and fight to the end” the Ministry of Commerce wrote in a statement introducing the white paper.

Murshidabad anti-Waqf Bill violence: 22 arrested; internet suspended; Prohibitory Orders imposed

“At least 22 people were apprehended following an incident of violence and arson during a protest rally against the passage of the Waqf (Amendment) Act, 2025, at West Bengal’s Murshidabad on Tuesday (April 8, 2025),” a police officer said on Wednesday. The District Magistrate of Murshidabad Rajarshi Mitra passed a 48-hour Prohibitory Order on Tuesday evening under Section 163 of the Bharatiya Nagarik Suraksha Sanhita for the areas under the Raghunathganj and Suti police stations of Murshidabad. It prohibits the assembly of five or more people in one place.

Justice Sanjeev Kumar appointed as acting Chief Justice of Jammu & Kashmir High Court

Justice Sanjeev Kumar was appointed as the acting Chief Justice of the Jammu and Kashmir and Ladakh High Court on Wednesday, according to the Law Ministry. In a notification, it said Justice Kumar, a judge of that high court, has been appointed as the acting chief justice as incumbent Tashi Rabstan demits office this evening on attaining the age of 62 years. On April 4, the Supreme Court Collegium recommended the appointment of Justice Arun Palli, a judge of the Punjab and Haryana High Court, as the Chief Justice of the High Court of Jammu & Kashmir and Ladakh.

Ravichandran Ashwin surpasses Bhuvneshwar Kumar to become 3rd-highest wicket-taker in IPL

Chennai Super Kings (CSK) veteran off-spinner Ravichandran Ashwin surpassed Royal Challengers Bengaluru (RCB) right-arm swinging seamer Bhuvnesh Kumar to become the third-highest wicket-taker in the history of the Indian Premier League (IPL). During Tuesday (April 8, 2025) night’s clash against Punjab Kings (PBKS), the 38-year-old off-spinner scythed two wickets in four overs, giving away 48 runs at an economy of 12. With these two wickets, Ashwin breezed past Bhuvneshwar to emerge as the third-highest wicket-taker in the history of the cash-rich league.