This is the Catchup on 3 Things by The Indian Express and I'm Flora Swain.
Today is the 9th of April and here are today's headlines.
The Reserve Bank of India has slashed the repo rate by 25 basis points to 6% in its latest monetary policy review. This signals lower interest rates on home, personal, and auto loans soon. The Monetary Policy Committee also shifted its stance from "neutral" to "accommodative," hinting at more rate cuts ahead. GDP growth for 2025–26 has been revised down to 6.5% from 6.7%, while retail inflation is projected at 4%. Lower rates aim to boost borrowing and spending amid slowing economic momentum.
India has revoked a key transshipment facility that allowed Bangladesh to move export cargo through Indian territory to Bhutan, Nepal, and Myanmar. The decision, announced by the Central Board of Indirect Taxes and Customs, follows Bangladesh's growing economic ties with China in Northeast India. A June 2020 order enabling transshipment via Indian ports and land customs stations has been officially rescinded. The move is expected to strain Dhaka’s regional trade logistics and could reflect India’s strategic pushback against China's expanding influence in South Asia.
India has cleared a high-value defense deal with France to purchase 26 Rafale Marine fighter jets for the Indian Navy. Estimated at over ₹63,000 crore, the deal includes 22 single-seat and 4 twin-seat variants, along with maintenance support, logistics, and training packages. This agreement strengthens naval aviation capabilities aboard aircraft carriers INS Vikrant and INS Vikramaditya. It also supports Make in India goals with offset obligations requiring domestic manufacturing components. The deal is expected to be formalized shortly, marking a major milestone in Indo-French strategic cooperation.
Russia has formally invited Prime Minister Narendra Modi to attend its Victory Day Parade on May 9, commemorating 80 years since the end of World War II. Deputy Foreign Minister Andrey Rudenko confirmed that the invitation has been sent, and the visit is under discussion. The gesture comes after Moscow confirmed President Putin’s scheduled visit to India later this year. Russia has extended invitations to several “friendly nations,” reinforcing diplomatic ties amid ongoing geopolitical tensions. Modi’s participation would signify India’s balancing act in global power dynamics.
The US has officially enforced a sweeping 104% tariff on all Chinese imports starting April 9, escalating its trade confrontation with Beijing. The tariff includes existing levies and new duties under Section 301 of the Trade Act. This move follows President Trump’s ultimatum to China to withdraw its retaliatory 34% tariffs. With Beijing refusing to back down, the White House has proceeded with the measure. The new tariff is expected to impact global trade flows, raise prices in the US, and further strain US-China economic relations.
That's all for today. This was the CatchUp on 3 Things by The Indian Express.
