The Vice President, Shri Jagdeep Dhankhar has greeted the people of the nation on the occasion of Mahavir Jayanti.
Following is the text of the message:
“On the auspicious occasion of Mahavir Jayanti, I extend my heartfelt greetings to all fellow citizens.
The eternal teachings of Lord Mahavir—ahimsa (non-violence), satya (truth), and aparigraha (non-attachment)—continue to illuminate our path towards a more compassionate and harmonious world. His profound message of the equality of all living beings and respect for diverse viewpoints remains ever relevant in today’s world.
On this Mahavir Jayanti, let us draw strength from his life and ideals, embracing spiritual discipline, self-restraint, and universal compassion. May his timeless wisdom inspire us to nurture tolerance, understanding, and peace in our communities and beyond.”
Following is the Hindi text of the message:
“महावीर जयंती के पावन अवसर पर, मैं सभी देशवासियों को हार्दिक शुभकामनाएँ देता हूँ।
भगवान महावीर के शाश्वत उपदेश—अहिंसा, सत्य और अपरिग्रह—हमें एक अधिक करुणामय और समरस विश्व की ओर अग्रसर होने की प्रेरणा देते हैं। सभी जीवों की समानता और विभिन्न विचारों के प्रति सम्मान का उनका गहन संदेश आज के समय में और भी प्रासंगिक है।
इस महावीर जयंती पर, आइए हम उनके जीवन और आदर्शों से प्रेरणा लेकर आत्मानुशासन, संयम और सार्वभौमिक करुणा को अपनाएँ। भगवान महावीर की कालजयी शिक्षाएँ हमारे समाज में सहिष्णुता, समझ और शांति की भावना को सुदृढ़ करें—यही कामना है।”
Source: Hong Kong Government special administrative region
The Correctional Services Department (CSD) today (April 9) held a national security education student forum at Queen Elizabeth Stadium and premiered a national security education microfilm produced by the CSD. The Acting Secretary for Security, Mr Michael Cheuk, was the officiating guest. Other guests included Deputy Director-General of the Police Liaison Department of the Liaison Office of the Central People’s Government (CPG) in the Hong Kong Special Administrative Region (HKSAR) Mr Xie Wei; Deputy Director of the liaison office of the Office for Safeguarding National Security of the CPG in the HKSAR Mr Xie Zhixiang; and the Commissioner of Correctional Services, Mr Wong Kwok-hing.
More than 1 600 teachers and students from 29 schools, principals, parent-teacher association members, members of Fight Crime Committees, members of the Committee on Community Support for Rehabilitated Offenders, and various community partners of the CSD attended the forum.
To raise public awareness of safeguarding national security, the CSD produced two national security education microfilms, namely “Momentary Glory” and “Unfailing Love”. Adapted from real cases, the microfilms feature stories of teenagers who were incited to commit illegal acts which endanger national security, and paid a heavy price in the end. Through the microfilms, the CSD hopes to enhance the public’s ability to think critically and discerningly, and raise their awareness of abiding by the law.
Speaking at the ceremony, Mr Cheuk said that the CSD has shouldered the mission of safeguarding national security and has taken initiatives to go beyond the prison walls to actively promote community crime prevention education to nurture young people to become a new generation that loves the country and Hong Kong, are law-abiding citizens and have a positive mindset. The microfilm “Momentary Glory”, shown at today’s forum, portrays the heavy price of committing crimes that endanger national security. He hoped that students can understand that they should think twice before they act and not to commit any crimes to avoid lifelong regrets.
The forum also featured a video clip of the real protagonist in the microfilm. In the video, he shared his emotional journey of repentance and feelings after being misled into committing illegal acts and ultimately being sentenced to imprisonment. There was also an interactive session in the forum, allowing students to express their views on the microfilm to inspire them to think from different perspectives. Moreover, the CSD arranged for rehabilitated persons to talk about the cost they had to pay for committing crimes and their rehabilitation experiences, reminding students to determine the authenticity of information and refrain from engaging in illegal activities.
The two microfilms will be uploaded to various official media platforms of the CSD and the Education Bureau on National Security Education Day on April 15 to convey messages of safeguarding national security to more students and the public.
Bureau of Indian Standards hosts 15th Plenary meeting of Technical Committee of International Organisation for Standardisation (ISO) and International Electrotechnical Commission (IEC) India is ready to take on a greater role in shaping global AI standards: Secretary, Department of Consumer Affairs, GoI
Posted On: 09 APR 2025 6:27PM by PIB Delhi
India is ready to take on a greater role in shaping global AI standards, said Smt. Nidhi Khare, Secretary, Department of Consumer Affairs, Government of India, during the inauguration of 15thPlenary meeting of the Technical Committee of the International Organisation for Standardisation (ISO) and International Electrotechnical Commission (IEC) for developing international standards on Artificial Intelligence hosted by Bureau of Indian Standards.
She added that the government is committed to advancing AI technology particularly LLM (Large Language Model) and SLM (Small Language Model) in a responsible manner, ensuring these are developed with both global collaboration and national priorities in mind. She further highlighted the importance of aligning national AI strategies with global standards that are inclusive, context-aware, and adaptable to local needs.
Shri S. Krishnan, Secretary, Ministry of Electronics and Information Technology, reflected on India’s sustained engagements and partnerships with the key stakeholders in the field of AI as the founding member of the Global Partnership on AI (GPAI). Highlighting India’s commitment to promoting ‘AI for good and for All’, he said Government of India is working for Democratising & Decentralising the way Artificial Intelligence works and there is a need of setting standards for AI so that we stay ahead of the curve.
BIS, the National Standards Body of India, is leading the global efforts of standardisation related to Artificial Intelligence. The 15th plenary and sub-group meetings of the ISO/IEC JTC 1/SC 42 ‘Artificial Intelligence’ sub-committee in New Delhi were attended by more than 350 global experts from 70 countries.
Speaking at the inaugural session of the plenary, Shri Pramod Kumar Tiwari, Director General, BIS, said that the Bureau has formed sector-specific groups for targeted AI standard development and strengthened partnerships with ministries, academia, regulatory bodies, and consumer bodies for targeted AI standard development.
Informing the participants about the upcoming IEC General Meeting in India in Sep 2025, he said the IEC general meeting 2025, in New Delhi is a testament to India’s increasing participation in global standards. In addition to hosting management meetings and more than 45 technical committee and subcommittee meetings, BIS will organise seminars, workshops, and exhibitions on various emerging technologies, including AI.
The week-long deliberations covered key aspects of the rapidly changing technology landscape of the Artificial Intelligence such as foundational AI standards, Data governance, Trustworthiness, computational approaches, and AI applications across industries including de- identification in machine learning and quality assurance in generative AI applications. India is leading a discussion on standards for the Resilience Assessment of AI systems.
Extending his gratitude to BIS for hosting the SC 42 plenary, Mr. Wael William Diab, the incumbent chairperson of the Committee informed that the Committee has successfully published 35 ISO standards on AI and 47 other ISO standards on AI are under development
On the sidelines of the plenary summit, BIS organised an International Workshop on ‘Enabling Trust in Technology in the Age of LLMs and Generative AI’. Speaking at the workshop Shri Abhishek Singh, Additional Secretary MeitY and CEO of IndiaAI Mission highlighted how Trust in AI can be built through Fairness, Transparency, and Accountability with diverse and inclusive data sets. He said this can be achieved only through a set of standards generated through Extensive consultation and deliberation in a forum like this. He also shared India’s experience and highlighted the need for standards for voice and image data in a linguistically diverse country like India.
Shri Bharat Khera, Additional Secretary, DoCA said during the event that to fully harness AI’s power, it is imperative to establish robust, inclusive, and internationally recognized standards that ensure trust, fairness, security, and accessibility. These standards will not only safeguard AI’s ethical deployment but also help create a level playing field for developing nations, enabling them to adopt and implement AI responsibly and effectively. He cited the example of the AI-enabled National Consumer Helpline (NCH) system for transformation of the grievance redressal through AI-powered automated classification and predictive analysis, reducing resolution time.
The meetings and workshops highlighted India’s pivotal role in shaping the future of global AI governance. As the national standards body of India, the Bureau of Indian Standards (BIS) represents the country in international committees of ISO and IEC, which are involved in the development of international standards. These standards play a vital role in the global economy, ease of trade, ensuring interoperability, safety, security, reliability of systems, and achieving the UN SDGs.
National Critical Mineral Mission Powering India’s Clean Energy Future
Posted On: 09 APR 2025 6:33PM by PIB Delhi
Introduction
The Government of India launched the National Critical Mineral Mission (NCMM) in 2025 to establish a robust framework for self-reliance in the critical mineral sector. Under this mission, the Geological Survey of India (GSI) has been tasked with conducting 1,200 exploration projects from 2024-25 to 2030-31.
A committee formed by the Ministry of Mines in November 2022 identified 30 critical minerals, with 24 included in Part D of Schedule I of Mines and Minerals Development and Regulation Act, 1957 (MMDR Act, 1957). The inclusion of 24 critical minerals in Part D of the First Schedule of the Mines and Minerals (Development and Regulation) Act (MMDR Act) means that the Central Government now has the exclusive authority to auction mining leases and composite licenses for these specific minerals.
It also recommended setting up a Centre of Excellence on Critical Minerals (CECM) to regularly update the mineral list and guide strategy.
Critical minerals are essential for clean energy technologies like solar panels, wind turbines, EVs, and energy storage systems. To secure these resources, India launched the NCMM to ensure their long-term availability and processing.
Critical minerals are essential for a country’s economic development and national security, and their lack of availability or concentration in a few geographical locations can lead to supply chain vulnerabilities.
Usage of Critical Minerals
Critical minerals are essential components of various clean energy technologies and industries. Their importance can be highlighted across different sectors:
1. Solar energy
Critical minerals such as silicon, tellurium, indium, and gallium are vital for the production of photovoltaic (PV) cells used in solar panels.
India’s current solar capacity of 64 GW is heavily dependent on these minerals.
2. Wind energy
Rare earth elements like dysprosium and neodymium are used in permanent magnets for wind turbines.
India aims to increase its wind energy capacity from 42 GW to 140 GW by 2030, necessitating a stable supply of these minerals.
3. Electric vehicles (EVs)
Lithium, nickel, and cobalt are key materials used in lithium-ion batteries.
Under the National Electric Mobility Mission Plan (NEMMP), India plans to deploy 6–7 million EVs by 2024, leading to increased demand for these critical minerals.
4. Energy storage
Lithium-ion batteries used in advanced energy storage systems depend on lithium, cobalt, and nickel.
Objectives of NCMM
To secure India’s critical mineral supply chain by ensuring mineral availability from domestic and foreign sources.
Strengthening the value chains by enhancing technological, regulatory, and financial ecosystems to foster innovation, skill development, and global competitiveness in mineral exploration, mining, beneficiation, processing, and recycling.
Mission Output
Mission Objectives
Key Heads
Target (2024-25 to 2030-31)
Securing Domestic and Foreign Sourcing
Domestic Critical Mineral Exploration Projects-Projects aimed at identifying and evaluating domestic reserves of critical minerals.
1200
Foreign Critical Mineral Mines – PSUs
Exploration and acquisition of overseas mineral assets by Public Sector Undertakings.
26
Foreign Critical Mineral Mines – Private Entities-Facilitation and support for private firms to acquire critical mineral assets abroad.
24
Incentive Scheme for Recycling (kt)
Scheme to promote recovery of critical minerals from secondary sources like scrap and waste
400
Strengthening Value Chains
Patents in Critical Mineral Value Chain
Encouraging innovation through development of patents across the critical mineral lifecycle.
1000
Skill Development
Training and upskilling workforce to support activities in mining, processing, and R&D.
10000
Mineral Processing Parks
Dedicated zones for processing critical minerals with modern infrastructure and facilities.
4
Centre of Excellence
Institutions established for advanced research and technological development in the sector.
3
Mineral Stockpile (Cumulative)
Strategic reserves maintained to ensure uninterrupted supply of critical minerals.
5
Components of the National Critical Mineral Mission (NCMM)
India’s exploration efforts
Under NCMM mission, GSI has intensified its exploration programs. In the 2024-25 field season, GSI has taken up 195 projects, including 35 in Rajasthan, focused on identifying and assessing critical mineral deposits. The mission seeks to minimize import dependency by enhancing domestic exploration and mining efforts. More than 100 critical mineral blocks are set to be auctioned, and exploration will be expanded to offshore regions rich in polymetallic nodules containing cobalt, rare earth elements (REEs), nickel, and manganese.
The Geological Survey of India (GSI), under the Ministry of Mines, follows the United Nations Framework Classification (UNFC) classification and Minerals (Evidence of Mineral Contents) (MEMC) Rules, 2015, to carry out exploration activities for critical minerals. Earlier in 2021-22 and 2022-23, GSI conducted reconnaissance surveys for rare earth elements (REEs) including neodymium in Sirohi and Bhilwara districts of Rajasthan. Additionally, the Department of Atomic Energy discovered around 1,11,845 tonnes of in-situ Rare Earth Elements Oxide (REO) in Balotra, Rajasthan.
To speed up projects, a fast-track regulatory approval system will be introduced. A new Exploration Licence (EL) will encourage private sector participation. Recovery of minerals from secondary sources like fly ash, tailings, and red mud will be promoted through relaxed rules and incentives. Efforts will also focus on trace mineral assessment, development of processing parks, and increased involvement of state governments and PSUs in the critical mineral value chain.
Acquisition of assets abroad
India will invest in exploring and acquiring critical mineral assets in resource-rich countries. PSUs and private firms will be supported through funding, guidelines, and inter-ministerial coordination. Public-private partnerships will be promoted, and infrastructure support will be ensured with MEA’s help.
Key International Initiatives
KABIL (Khanij Bidesh India Ltd) signed an agreement with CAMYEN SE, a state-owned enterprise in Catamarca, Argentina, on 15th January 2024 for lithium exploration covering 15,703 hectares.
KABIL also signed an MoU with the Critical Mineral Office (CMO), Department of Industry, Science and Resources (DISER), Government of Australia, in March 2022.
Due diligence is underway for selection of lithium and cobalt projects in Australia for strategic investments through off-take arrangements.
IREL (India) Limited
With a processing capacity of 6 lakh tons per annum, IREL produces key minerals like ilmenite, rutile, zircon, sillimanite, and garnet. It also operates a Rare Earth Extraction Plant in Chatrapur, Odisha and a Rare Earth Refining Unit at Aluva, Kerala. The company has been making profit consistently since 1997-98, with a peak turnover of over ₹14,625 million in 2021-22, including ₹7,000 million in exports.
IREL is focused on expanding its production capacity, supporting value chain industries, and advancing R&D through its facility in Kollam, Kerala.
Conclusion
India aims to reduce the emissions intensity of its GDP by 45% by 2030 (from 2005 levels), achieve 50% of its electric power capacity from non-fossil sources by 2030, and reach net-zero emissions by 2070. To achieve these climate goals, the National Critical Mineral Mission (NCMM) plays a vital role by building a resilient and self-reliant ecosystem for critical minerals. The mission focuses on boosting domestic production, encouraging private sector participation, strengthening international partnerships, and streamlining regulations to ensure a steady supply of minerals essential for clean energy technologies.
Manufacturing Contract between Airbus & Mahindra Aerostructures Historic Signing Event for H130 Fuselage Manufacturing
Posted On: 09 APR 2025 5:03PM by PIB Delhi
In a landmark event, Minister for Civil Aviation, Shri Ram Mohan Naidu, today chaired the signing ceremony for the H130 helicopter fuselage manufacturing contract between Airbus and Mahindra Aerostructures Pvt. Ltd. The event, held at the Ministry of Civil Aviation, was graced by the presence of Secretary Civil Aviation Shri Vumlunmang Vualnam, President & MD of Airbus India & South Asia Mr Remi Maillard, Group CEO & MD of Mahindra Group Dr Anish Shah and senior leadership of the industry partners.
This collaboration marks a pivotal moment in India’s aviation journey, further strengthening the global confidence in the country’s industrial potential. The partnership between Mahindra Aerostructures and Airbus underscores India’s progress in the aviation sector and our steadfast commitment to the ‘Make in India’ and ‘Atmanirbhar Bharat’ initiatives spearheaded by Prime Minister Shri Narendra Modi.
In his address, Shri Ram Mohan Naidu stated, “I think this contract for the manufacturing and assembly of the H130 helicopter fuselage is a testament to the confidence global players like Airbus have in the potential of Indian industry. Since its inception in 2011, Mahindra Aerostructures has proven that even as a young player in the aerospace industry, it can deliver world-class parts and assemblies for major global players like Airbus. As the Civil Aviation Minister, I am proud of the fact that today every Airbus commercial aircraft and helicopter carries critical technologies and parts designed, made, and maintained in India. And today, we are setting a new benchmark for aircraft component manufacturing. I believe that this has been possible only with the valuable support from Airbus.”
Highlighting India’s rapid aviation growth, the Minister shared:
India is set to become one of the world’s largest civil aviation markets, with over 2,200 aircraft expected to join the fleet in the next 20 years.
By 2030, India will handle 630 million passengers annually, growing at a CAGR of 6–8%.
Over the next 10–15 years, the domestic aerospace manufacturing market can grow to a $10 billion industry, encompassing structural components, avionics systems, and more.
The Minister also acknowledged the exemplary contribution of Indian MSMEs and startups, which supply over $2 billion worth of aircraft components annually to global OEMs like Airbus and Boeing.
The event builds on the momentum from a February 2025 meeting chaired by the minister, focusing on accelerating aircraft component manufacturing in India. Attended by senior officials, industry leaders, and experts, the meeting aimed to chart a unified roadmap for bolstering domestic production and enhancing global competitiveness.
Secretary, MoCA, Shri Vumlunmang Vualnam in his address emphasized how the H130 fuselage contract will not only bring cutting-edge technologies and jobs to India but also catalyze the development of domestic MRO capabilities and a robust manufacturing base.
The two Final Assembly Lines in India; one for the C295 military aircraft, inaugurated by Prime Minister Shri Narendra Modi and Spanish PM Mr. Pedro Sánchez, and the upcoming H125 helicopter assembly line stand as beacons of India’s thriving aerospace ecosystem and its strategic partnership with global players like Airbus.
Source: Hong Kong Government special administrative region
CHP of DH responds to media enquiries on influenza vaccine safety “Influenza vaccination has been scientifically proven to be one of the most safe and effective ways to prevent seasonal influenza and its complications, and can significantly reduce the risk of hospitalisation and death from seasonal influenza. Hong Kong has established a pharmacovigilance system to monitor adverse events following immunisation. In the past five years, over 8 million doses of influenza vaccine have been administered and there have been no deaths reported after influenza vaccination. All persons aged 6 months and above (except those with known contraindications), particularly persons who have a higher risk of getting infected with influenza and developing complications, such as the elderly and children, should receive seasonal influenza vaccine every year.
“Severe cases related to seasonal influenza involving adults and cases of severe paediatric influenza-associated complication recorded in the recent flu season were significantly lower than in the influenza season before the COVID-19 pandemic. We believe that this is the result of the general public’s willingness to receive the seasonal influenza vaccine. Local data showed that the rate of severe influenza complications among children who did not receive seasonal influenza vaccination of the current season is about four times that of vaccinated children. Among the elderly, the rate of severe influenza (including death) among residents of the residential care homes aged 65 years or above who did not receive seasonal influenza vaccination of the current season is 2.3 times that of the vaccinated residents. The data highlighted the important protective role of seasonal influenza vaccination against severe infection and death.
“Influenza vaccines currently used in Hong Kong, including inactivated influenza vaccine (IIV), recombinant influenza vaccine (RIV) and live-attenuated influenza vaccine (LAIV), are safe and effective. Traditional IIV has been used for decades. The vaccine has proven to be safe and reliable through repeated testing and quality assessment. The safety of the newer LAIV and RIV is comparable to that of IIV. The World Health Organization has also indicated that vaccination is the most effective means to prevent serious illness arising from influenza. Side effects of influenza vaccines are usually mild and transient. The most common side effects include pain and redness at the injection site. Some recipients may experience fever, chills, muscle pain and tiredness. Severe adverse reactions to influenza vaccines are very rare.” Issued at HKT 19:54
The President of India, Smt. Droupadi Murmu in her message on the eve of Mahavir Jayanti has said: –
“On the auspicious occasion of Mahavir Jayanti, I extend my greetings and best wishes to all fellow citizens, especially the Jain brothers and sisters.
Bhagwan Mahavir, the embodiment of non-violence and compassion, showed a new path to humanity through the message of ‘Ahimsa Paramo Dharma’, which means non-violence is the supreme religion. Mahavir Jayanti gives us the message to follow the path of spirituality and adopt the values of simplicity, kindness and detachment from material possessions and desires.
Let us imbibe the teachings of Bhagwan Mahavir in our lives and promote peace, non-violence and harmony in the society”.
WAVES 2025: Finalists Announced for “Make the World Wear Khadi” Challenge From 750 to the Best : WAVES to Honour Winning Campaigns Reimagining Khadi
Posted On: 09 APR 2025 5:00PM by PIB Mumbai
Mumbai, 9 April 2025
The Ministry of Information & Broadcasting, in collaboration with the Advertising Agencies Association of India (AAAI), has announced the shortlist for Make the World Wear Khadi – one of the 32 Creative in India Challenges being held as part of the WAVES Summit 2025, scheduled from May 1 to 4 in Mumbai.
Shortlisted Candidates:
Iman Sengupta & Soham Ghosh – Havas Worldwide India
Kartik Sankar & Madhumita Basu – 22feet Tribal
Kajal Tirlotkar – Interactive Avenues
Tanmay Raul & Mandar Mahadik – DDB Mudra Group
Akash Mejari & Kajol Jeswani – DDB Mudra Group
Sharing insights behind their work, the participants reflected on Khadi’s evolving identity—from a symbol of India’s freedom movement to a solution for sustainable fashion.
Kajal Tirlotkar described Khadi as “a testament of time… slow, soulful, and spun with care,” while Tanmay Raul and Mandar Mahadik positioned it as the “Fabric of the Future,” highlighting its potential to address environmental degradation caused by fast fashion. Akash Mejari and Kajol Jeswani focused on Khadi as a means to “undo” ecological damage, encouraging climate-conscious action through their campaign. Meanwhile, Iman Sengupta and Soham Ghosh emphasized Khadi’s economic and cultural value, advocating for it as a premium, purpose-driven choice in global fashion.
The contest, designed to reimagine Khadi as a global icon of sustainability and identity, drew over 750 registrations from creative professionals and agencies across the country. Participants were challenged to create advertising campaigns that position Khadi not just as a fabric, but as a powerful symbol of innovation and conscious living on the world stage.
A distinguished jury of advertising industry leaders evaluated the entries based on originality, cultural depth, global appeal, and alignment with the contest’s core message. The shortlisted campaigns were praised for their strategic thinking, compelling narratives, and their potential to ignite a global movement around Khadi.
The final winners will be revealed and felicitated during the WAVES Summit 2025, where their campaigns will be presented before an elite audience of policymakers, global delegates, media leaders, and industry stakeholders.
The first World Audio Visual & Entertainment Summit (WAVES), a milestone event for the Media & Entertainment (M&E) sector, will be hosted by the Government of India in Mumbai, Maharashtra, from May 1 to 4, 2025.
Whether you’re an industry professional, investor, creator, or innovator, the Summit offers the ultimate global platform to connect, collaborate, innovate and contribute to the M&E landscape.
WAVES is set to magnify India’s creative strength, amplifying its position as a hub for content creation, intellectual property, and technological innovation. Industries and sectors in focus include Broadcasting, Print Media, Television, Radio, Films, Animation, Visual Effects, Gaming, Comics, Sound and Music, Advertising, Digital Media, Social Media Platforms, Generative AI, Augmented Reality (AR), Virtual Reality (VR), and Extended Reality (XR).
RBI Cuts Repo Rate to 6%, Projects 6.5% GDP Growth for FY 2025-26
Introduction
The Monetary Policy Committee (MPC), in its 54th meeting and the first of the financial year 2025–26, unanimously decided to reduce the policy repo rate by 25 basis points, bringing it down to 6 per cent with immediate effect. The repo rate is the rate at which the Reserve Bank of India (RBI) lends money to commercial banks, and a cut in this rate is aimed at boosting lending and investment. This decision comes at a time when global economic conditions are becoming increasingly uncertain. Trade tensions have resurfaced, leading to a decline in crude oil prices, weakening of the US dollar, softening bond yields, and corrections in equity markets. While central banks across the world are adjusting their policies to address domestic concerns, they are doing so cautiously.
Within India, the outlook has shown signs of improvement. Inflation, particularly food inflation, has declined more than expected, offering some relief, though global and weather-related risks remain. Growth is recovering after a weak first half in the previous financial year, but it still falls short of the country’s potential. The Monetary Policy Report of April 2025, released alongside the MPC resolution, also outlines the GDP growth forecast and inflation projection for the coming months. This year also marks a milestone for the RBI as it completes 90 years since its establishment on 1st April 1935. Over the decades, it has evolved into a full-service central bank, balancing its roles of managing inflation, supporting growth, and ensuring financial stability.
Key Policy Decisions
The Monetary Policy Committee (MPC) unanimously decided to reduce the policy repo rate by 25 basis points, bringing it down to 6 per cent with immediate effect. The repo rate is the rate at which the Reserve Bank of India (RBI) lends money to commercial banks.
As a result, the Standing Deposit Facility (SDF) rate under the Liquidity Adjustment Facility (LAF) has been adjusted to 5.75 per cent. The SDF allows banks to park excess funds with the RBI without any collateral.
The Marginal Standing Facility (MSF) rate and the Bank Rate have both been revised to 6.25 per cent. MSF stands for Marginal Standing Facility, a provision made by the RBI that enables scheduled commercial banks to obtain overnight liquidity if inter-bank funds completely dry up. It is an emergency facility that allows banks to borrow at a rate higher than the repo rate.
These rate adjustments are consistent with the RBI’s objective of achieving the Consumer Price Index (CPI) inflation target of 4 per cent, within a flexible band of ±2 per cent, while also supporting economic growth.
Growth Assessment
The Reserve Bank of India has projected real GDP growth at 6.5 per cent for 2025–26, maintaining the same rate as estimated for 2024–25, following a strong expansion of 9.2 per cent in the preceding year. The quarterly projections stand at 6.5 per cent in Q1, 6.7 per cent in Q2, 6.6 per cent in Q3, and 6.3 per cent in Q4. This marks a downward revision of 20 basis points from the February estimate, reflecting heightened global volatility. Agriculture remains on a positive footing, supported by healthy reservoir levels and robust crop production, which is expected to sustain rural demand. Manufacturing is showing early signs of revival amid improved business sentiment, and the services sector continues to demonstrate resilience.
On the investment side, activity is gaining pace on the back of higher capacity utilisation, continued government focus on infrastructure, and strong balance sheets of banks and corporates. Easing financial conditions have also aided this recovery. While services exports are likely to remain steady, merchandise exports could face headwinds from global uncertainties and trade disruptions. Looking ahead, the RBI has projected real GDP growth at 6.7 per cent for 2026–27, suggesting continued recovery momentum.
Inflation Outlook
Headline inflation eased during January and February 2025, driven by a sharp decline in food prices. With uncertainties around the rabi crop largely resolved, and second advance estimates indicating record wheat output and higher pulse production than last year, food inflation is expected to soften further. This favourable trend is supported by robust kharif arrivals and a sharp fall in inflation expectations over the next three and twelve months, as reflected in recent surveys. The decline in crude oil prices has further strengthened the disinflationary outlook. Accordingly, Consumer Price Index (CPI) inflation for 2025–26 is projected at 4.0 per cent, with quarterly estimates at 3.6 per cent in Q1, 3.9 per cent in Q2, 3.8 per cent in Q3, and 4.4 per cent in Q4.
While the inflation outlook appears stable, global uncertainties and the possibility of weather-related supply shocks continue to pose upside risks to the inflation path. The Reserve Bank of India has assumed a normal monsoon in framing its projections, and it considers the risks to be evenly balanced at this stage.
External Sector Snapshot
Robust Services and Remittances: Services exports remained strong in January–February 2025, led by software, business, and transportation services. Net services and remittance receipts are expected to remain in large surplus, cushioning the merchandise trade deficit.
Sustainable Current Account Deficit: The current account deficit (CAD) for both 2024–25 and 2025–26 is projected to stay well within sustainable levels, supported by resilient external inflows.
Mixed Investment Flows: While gross FDI remained strong due to stable macroeconomic fundamentals, net FDI moderated because of higher repatriations and outward investments. Net FPI inflows touched USD 1.7 billion in 2024–25, driven by debt inflows despite equity outflows.
Healthy Forex Reserves: As of April 4, 2025, India’s foreign exchange reserves stood at USD 676.3 billion, offering an import cover of nearly 11 months and reflecting the strength of the external sector.
Liquidity and Financial Market Conditions
Liquidity Shortage and RBI Intervention: In January 2025, the banking system faced a shortage of funds, known as a liquidity deficit. To address this, the Reserve Bank of India (RBI) provided up to ₹3.1 lakh crore on 23rd January through the Liquidity Adjustment Facility (LAF) – a tool that allows banks to borrow money from the RBI for short periods to manage temporary mismatches in cash flow.
Improved Liquidity Position: The RBI later infused about ₹6.9 lakh crore into the system, and increased government spending in late March helped further. These actions improved the situation, and by 7th April 2025, the system had a liquidity surplus of ₹1.5 lakh crore – meaning there was more money available in banks for lending and investment.
Softening of Market Rates: With more liquidity available, the Weighted Average Call Rate (WACR) – the average interest rate at which banks lend to each other overnight – declined and hovered close to the repo rate, which is the interest rate at which the RBI lends money to commercial banks. This indicates stable short-term borrowing costs.
Lower Funding Costs in Debt Market: The difference between interest rates on Commercial Papers (CPs) and Certificates of Deposit (CDs) – short-term borrowing instruments used by companies and banks – and the 91-day Treasury Bill – a short-term government security – reduced. This narrowing of spreads means that borrowing became cheaper in financial markets. The RBI has stated it will continue to monitor these conditions and take action as needed to maintain sufficient liquidity.
Conclusion
The Monetary Policy Report of April 2025, released alongside the 54th meeting of the Monetary Policy Committee, reflects a balanced approach by the Reserve Bank of India (RBI) to support growth while maintaining price stability. The decision to cut the policy repo rate by 25 basis points to 6 per cent is underpinned by easing inflation, particularly in food prices, and a gradual recovery in economic activity. With GDP growth for 2025–26 projected at 6.5 per cent and inflation expected to remain within the 4 per cent target band, the report signals cautious optimism despite global uncertainties.
On the external front, robust services exports and strong remittance inflows have helped cushion the merchandise trade deficit, keeping the current account deficit at sustainable levels. Meanwhile, improved system liquidity, lower short-term borrowing costs, and stable foreign exchange reserves underscore the resilience of India’s financial system. The RBI has affirmed its commitment to closely monitor evolving conditions and take timely, calibrated measures to preserve macroeconomic and financial stability.
Commerce and Industry Minister Shri Piyush Goyal chairs a meeting on the emerging trade scenario with Export Promotion Councils and Industry bodies Meeting was called to deliberate on the opportunities arising out of the evolving scenarios
Posted On: 09 APR 2025 7:55PM by PIB Delhi
Union Minister of Commerce and Industry, Shri Piyush Goyal, today held discussions with the Export Promotion Councils and Industry Bodies in New Delhi in the light of the emerging trade scenario. The meeting was called to deliberate on the impact as well as opportunities arising out of the evolving and very dynamic scenarios and to apprise the industry and trade about the steps being taken by the Government.
The Commerce and Industry Minister (CIM) complemented the exporters and the industry for achieving the highest ever export of above USD 820 Billion in the fiscal 2024-25 which is nearly 6% growth over previous fiscal year. In spite of multiple headwinds including the red sea crisis, Israel-Hamas conflict spilling over to Gulf region, continuation of Russia-Ukraine conflict and slow growth in some developed economies, the Minister lauded the Exporters for their resilience and efforts.
During the meeting, CIM also apprised the exporters regarding discussions with the US for a mutually beneficial multi-sectoral Bilateral Trade Agreement (BTA), which has been ongoing due to the foresight of Honb’le PM Modi who was one of the first global leaders to agree on the BTA in his meeting with President Trump in February 2025.
The Commerce and Industry minister assured the exporters that the Government will work to provide a conducive environment to enable them to successfully navigate the recent changes in the global trade environment.
The Commerce and Industry Minister assured that the country is working in a proactive manner and exploring solutions which are in the best interest of the nation. The team working on BTA is exploring the right mix and the right balance and he exhorted the exporters to not panic and look at the silver lining in the present scenario. He assured that the team is working with speed but not in undue haste to ensure the right outcome for the country.
The CIM said that different countries are approaching the tariff imposition in a different manner. However, as far as India is concerned, there is a potential for increase in manufacturing, creation of additional jobs because it can attract big players in global supply chain as India has been able to establish itself as a trusted and reliable partner and with a predictable business friendly destination.
Various Export Promotion Councils, representing a wide array of sectors, presented their views and outlook in light of the emerging challenges in global trade and requested the government to take proactive measures to support the export industry in these challenging times.
The meeting was attended by Export Promotion Councils, Industry bodies and officials from Commerce and line ministries.