📅 26 August 2025 – Daily Current Affairs
1. US Slaps Additional 25% Tariffs on Indian Goods
Effective: 27 August 2025
Impact:
- Total tariff now 50% on Indian exports to the U.S.
- 66% of exports (textiles, gems, jewelry) affected.
- Rupee slipped to ₹87.80 per USD (near record low).
- Competitors such as China and Vietnam likely to benefit in global trade.
2. Apple Expands Retail Presence in India
New store: Koregaon Park, Pune (Opening 4 September 2025).
Follows flagship stores in Mumbai (BKC) and Delhi (Saket). Reflects Apple’s focus on India as a growth market amid slowing sales in China.
3. Foreign Investment in Indian Banking Sector
Key updates:
- Sumitomo Mitsui Banking Corporation (Japan) approved to acquire 24.99% stake in Yes Bank.
- LIC reclassified as a public shareholder in IDBI Bank, opening path for strategic sales to foreign players (e.g., Emirates NBD, Fairfax).
Policy: Current cap on foreign ownership remains 15% with 26% voting rights; RBI signalling selective relaxation.
4. India Elected Chairman of AIBD
India elected Chairman of the Asia-Pacific Institute for Broadcasting Development (AIBD), which has 45 member countries and 92 organizations. Strengthens India’s role in regional media cooperation.
5. India’s Defense Posture – CDS Statement
General Anil Chauhan, Chief of Defence Staff, stated: “India is peace-loving but cannot afford to be pacifist.” Emphasis on military strength, readiness, and modernization.
6. Bengaluru’s Growth Challenges
Bengaluru, home to nearly one-third of India’s Global Capability Centres (GCCs), faces infrastructure stress: traffic congestion, frequent flooding, water shortages, and poor urban planning. Risk of losing tech investments to Hyderabad and other cities.
7. Space Hero’s Homecoming – Lucknow
Group Captain Shubhanshu Shukla, participant in India’s recent space mission, received a grand welcome in Lucknow with a parade, rocket-themed decorations, and schoolchildren waving the tricolour. Boosts national pride and inspires youth.
8. LIC and IDBI Bank Update
LIC moved to the public shareholder category in IDBI Bank, clearing the path for government disinvestment and entry of foreign strategic investors. Aligns with broader financial reforms to attract global players.
9. Geopolitical Impact of Tariffs
Analysts warn that U.S. tariffs will reshape global trade flows. Indian exporters in sectors like gems, garments, and IT hardware face heavy losses; China, Vietnam, and Bangladesh may replace India in the U.S. supply chain.
10. Overall Economic Outlook
The combination of tariffs, rupee depreciation, and foreign investment policy changes presents both risks and opportunities. While exports face pressure, openings in banking and retail attract international interest. Government and RBI may need to take measures to stabilise currency and trade.
