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RBI Issues April 2025 Policy Update

Source: Government of India

Posted On: 09 APR 2025 6:14PM by PIB Delhi

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.

References:

Click here to see PDF.

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Santosh Kumar/ Sarla Meena/ Saurabh Kalia

(Release ID: 2120509) Visitor Counter : 27

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WAVES 2025: Finalists Announced for “Make the World Wear Khadi” Challenge

Source: Government of India

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.

About WAVES

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).

Have questions? Find answers here  

Stay updated with the latest announcements from PIB Team WAVES

Come, Sail with us! Register for WAVES now

 

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PIB TEAM WAVES 2025 | Dhanlakshmi/ Darshana | 88

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(Release ID: 2120449) Visitor Counter : 37

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PRESIDENT OF INDIA’S GREETINGS ON THE EVE OF MAHAVIR JAYANTI

Source: Government of India

Posted On: 09 APR 2025 5:41PM by PIB Delhi

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”.

Please click here to see the President’s Message:-

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MJPS/SR/BM

(Release ID: 2120476) Visitor Counter : 76

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CHP of DH responds to media enquiries on influenza vaccine safety

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

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Manufacturing Contract between Airbus & Mahindra Aerostructures

Source: Government of India

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.

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Beena Yadav/Divyanshu Kumar

(Release ID: 2120439) Visitor Counter : 116

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HKSAR search and rescue team returns from Myanmar to Hong Kong (with photos/video)

Source: Hong Kong Government special administrative region

HKSAR search and rescue team returns from Myanmar to Hong Kong (with photos/video)
The Chief Executive, Mr John Lee; the Permanent Secretary for Security, Mr Patrick Li; the Under Secretary for Security, Mr Michael Cheuk; the Acting Director of Immigration, Mr Ching Wo-mok; and the Chief Executive of the Hospital Authority (HA), Dr Tony Ko, welcomed the team at Hong Kong International Airport.

In his speech, Mr Lee said that the search and rescue team members overcame numerous difficulties and raced against time through their professional training, determined will and immense courage, fully demonstrating the professionalism in fearlessly braving challenges and caring for those in distress.Issued at HKT 0:50

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PM to visit Uttar Pradesh and Madhya Pradesh on 11th April

Source: Government of India

PM to visit Uttar Pradesh and Madhya Pradesh on 11th April

PM to lay the foundation stone and inaugurate various development projects worth over Rs 3,880 crore in Varanasi

Special focus of projects: road, electricity, education, tourism

PM to present Geographical Indication (GI) certificates to newly registered local items and products

PM to perform darshan and pooja at Guru Ji Maharaj Temple in Isagarh, Madhya Pradesh

Posted On: 09 APR 2025 9:43PM by PIB Delhi

Prime Minister Shri Narendra Modi will visit Uttar Pradesh and Madhya Pradesh on 11th April. He will travel to Varanasi and at around 11 AM, he will lay the foundation stone and inaugurate various development projects worth over Rs 3,880 crore. He will also address a public meeting.

Thereafter he will travel to Madhya Pradesh and at around 3:15 PM, he will perform darshan and pooja at Guru Ji Maharaj Temple in Isagarh. Further, at around 4:15 PM, he will participate in a public programme at Anandpur Dham and address the gathering on the occasion.

PM in Uttar Pradesh

Prime Minister will lay the foundation stone and inaugurate various development projects worth over Rs 3,880 crore in Varanasi. In line with his commitment to infrastructure development, particularly enhancing road connectivity in Varanasi, he will inaugurate and lay the foundation stone for various road projects in the region. Furthermore, he will lay the foundation stone for a road bridge between Varanasi Ring Road and Sarnath, flyovers at Bhikharipur and Manduadih crossings of the city and a highway underpass road tunnel on NH-31 at the Varanasi International Airport worth over Rs 980 crore.

Giving a boost to the electricity infrastructure, Prime Minister will inaugurate two 400 KV and one 220 KV transmission substations and associated transmission lines of Jaunpur, Chandauli and Ghazipur districts of Varanasi division worth over Rs 1,045 crore. He will also lay the foundation stone of a 220 KV transmission substation at Chaukaghat, Varanasi, a 132 KV transmission substation in Ghazipur and augmentation of the Varanasi city electricity distribution system worth over Rs 775 crore.

Prime Minister will inaugurate a Transit Hostel at the Police Line and barracks at PAC Ramnagar Campus, to improve facilities for the security personnel. He will also lay the foundation stone of new administrative buildings at various police stations and a residential hostel in Police Line.

In line with his vision to ensure education for all, Prime Minister will inaugurate projects including a Government Polytechnic College at Pindra, Sardar Vallabhbhai Patel Government College at village Barki, 356 rural libraries and 100 Anganwadi centres also. He will also lay the foundation stone for renovation of 77 primary school buildings under the Smart City Mission and the construction of a new building for Kasturba Gandhi School at Cholapur, Varanasi. Promoting sports infrastructure in the city, Prime Minister will lay the foundation stone for a synthetic hockey turf with floodlights and spectator gallery at Uday Pratap College and a mini stadium at Shivpur.

Prime Minister will also inaugurate the redevelopment of Samne Ghat and Shastri Ghat at Ganga river, 130 rural drinking water schemes under the Jal Jeevan Mission worth over Rs 345 crore, improvement of six municipal wards of Varanasi and landscaping and sculpture installations at various sites of Varanasi.

Prime Minister will also lay the foundation stone for MSME Unity Mall for artisans, infrastructure development works of Transport Nagar Scheme at Mohansarai, 1 MW solar power plant at WTP Bhelupur, Community halls in 40 Gram panchayats and beautification of various parks in Varanasi.

Prime Minister will also handover Ayushman Vay Vandana cards to first time benefitting senior citizens over 70 years. He will present Geographical Indication (GI) certificates to various local items and products including  tabla, painting, thandai, tiranga barfi among others. He will also transfer over Rs 105 crore bonus to milk suppliers of Uttar Pradesh associated with Banas Dairy.

PM in Madhya Pradesh

In line with his commitment to furthering the cultural and spiritual heritage of India, Prime Minister will visit Anandpur Dham of Isagarh Tehsil in the Ashoknagar district in Madhya Pradesh. He will perform darshan and pooja at Guru Ji Maharaj Temple. He will also tour the temple complex at Anandpur Dham.

Anandpur Dham has been established for spiritual and philanthropic purposes. Spanning 315 hectares, it houses a modern gaushala (cowshed) with over 500 cows and runs agricultural activities under Shri Anandpur Trust campus. The trust has been operating a charitable hospital in Sukhpur village, schools in Sukhpur and Anandpur and various Satsang Centers across the country.

 

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MJPS/SR

(Release ID: 2120622) Visitor Counter : 52

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PRESIDENT OF INDIA IN SLOVAKIA; MEETS POLITICAL LEADERSHIP OF THE SLOVAK REPUBLIC; LEADS DELEGATION-LEVEL TALKS

Source: Government of India

PRESIDENT OF INDIA IN SLOVAKIA; MEETS POLITICAL LEADERSHIP OF THE SLOVAK REPUBLIC; LEADS DELEGATION-LEVEL TALKS

WITNESSES EXCHANGE OF TWO MoUs IN THE FIELDS OF MSMEs AND DIPLOMATIC TRAINING COOPERATION

Posted On: 09 APR 2025 9:05PM by PIB Delhi

The President of India, Smt Droupadi Murmu reached Bratislava on the final leg of her State Visit to Portugal and the Slovak Republic. This is the first-ever visit by an Indian President to the Slovak Republic in 29 years. The Minister of State, Smt Nimuben Bambhaniya, and Members of Parliament Shri Dhaval Patel and Smt Sandhya Ray are also part of the accompanying delegation. 

 

The President commenced her engagements with the visit to the Presidential Palace where the President of the Slovak Republic, H.E. Mr. Peter Pellegrini, warmly received her. She was extended a traditional Slovak welcome with bread and salt by a couple in folk dress and accorded a ceremonial welcome with the Guard of Honour.

 

Later, President Droupadi Murmu discussed various aspects of bilateral relations and issues of shared global and regional interests with President Peter Pellegrini of the Slovak Republic during one-to-one meeting and delegation-level talks. The President appreciated the personal commitment and initiative of President Pellegrini towards strengthening bilateral relations. She noted the rising popularity of Indian art and culture in Slovakia.  She highlighted the immense potential for the two countries to collaborate more closely in the rapidly expanding media, entertainment and creative economy sectors of India, including promotion of Slovakia as a filming destination and a partner in joint film production. She invited Slovakia to take part actively in the upcoming WAVE Summit being hosted by India in Mumbai from May 1 to 4, 2025.

Both leaders witnessed the exchange of two MoUs, one on cooperation in the fields of MSMEs between NSIC and the Slovak Business Agency and another on diplomatic training cooperation between SSIFS and the Slovak Ministry of Foreign and European Affairs.

In the next engagement, President Droupadi Murmu met the Speaker of National Council of the Slovak Republic, H.E. Mr. Richard Raši. The President congratulated Mr. Raši on his recent election as Speaker and reaffirmed the high priority attached by India to the historic friendship between the two countries. She said that Parliamentarians have an important role in enhancing goodwill and mutual understanding between India and Slovakia. She noted that there has been a tradition of a Slovak-India Friendship Group in the National Council of Slovakia, and said that it would help promote the exchange of knowledge and experience among our Parliamentarians.

The President also met and held extensive discussions with the Prime Minister of the Slovak Republic, H.E. Mr Robert Fico. She stated that India greatly values our traditionally close and friendly ties with the Slovak Republic, based on shared values of democracy, rule of law and convergence of views on global issues. She also noted that there has been an increase in our engagements across sectors. The two leaders agreed to further diversify and strengthen bilateral relations in all areas of mutual interest.

Please click here to see the President’s speech – 

 

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MJPS/SR

(Release ID: 2120611) Visitor Counter : 60

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India and UK hold 13th Economic and Financial Dialogue in London today

Source: Government of India

India and UK hold 13th Economic and Financial Dialogue in London today

India and UK reaffirm their commitment to continue collaboration in financial services sector, FinTech and Digital economy and between the respective regulatory bodies; collaboration at bilateral and multilateral fora to address mutual and global economic issues

13th EFD concludes with adoption of Joint Statement by Union Finance Minister of India and Chancellor of Exchequer of United Kingdom

Posted On: 09 APR 2025 8:46PM by PIB Delhi

The 13th Ministerial meeting of the India-UK Economic and Financial Dialogue (13th EFD) was held today at London. The Indian delegation, led by Smt. Nirmala Sitharaman, Union Minister for Finance and Corporate Affairs, held high-level discussions with the UK delegation led by the Chancellor of the Exchequer, The Rt. Hon. Rachel Reeves.

The Indian delegation comprised of the Finance Secretary, Chairman IFSCA, Whole Time Member from SEBI and other senior officers from Ministry of Finance and Indian High Commission in London. Governor RBI also attended the meeting in virtual mode. The UK delegation included the Governor of Bank of England, FCA CEO, Economic Secretary of Treasury, and senior officials from HM’s Treasury.

Both sides reaffirmed their commitment to continue collaboration in financial services sector, FinTech and Digital economy and between the respective regulatory bodies; collaboration at bilateral and multilateral fora to address mutual and global economic issues including mobilising affordable finance and investment for low carbon economic growth, taxation matters and illicit financial flows.

Both sides welcomed the recent announcement of UK universities establishing campus in India, release of report of the India-UK Financial Partnership (IUKFP) on direct listing in IFSC GIFT City, launching of new private sector workstream on green finance, under the auspices of the IUKFP and other new areas of focus.

The 13th EFD concluded with the adoption of the Joint Statement by Union Finance Minister of India and Chancellor of Exchequer of United Kingdom.

Annexure:

JOINT STATEMENT OF 13TH INDIA-UK ECONOMIC AND FINANCIAL DIALOGUE

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NB/KMN

(Release ID: 2120597) Visitor Counter : 188

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Union Agriculture Minister Shri Shivraj Singh Chouhan calls on Prime Minister of Nepal Shri K.P. Sharma Oli on the sidelines of 3rd BIMSTEC Ministerial meeting in Kathmandu.

Source: Government of India

Union Agriculture Minister Shri Shivraj Singh Chouhan calls on Prime Minister of Nepal Shri K.P. Sharma Oli on the sidelines of 3rd BIMSTEC Ministerial meeting in Kathmandu.

Shri Chouhan also holds bilateral meetings with Agriculture and Livestock Ministers of Nepal and Bhutan

Posted On: 09 APR 2025 8:43PM by PIB Delhi

 Union Minister for Agriculture & Farmers’ Welfare and Rural Development Shri Shivraj Singh Chouhan led the Indian delegation during the bilateral meetings with Nepal and Bhutan. He was accompanied by the Ambassador of India to Nepal Shri Naveen Srivastava, Shri Samuel Praveen Kumar, Joint Secretary, DA&FW, Dr D.K. Yadava, Dy Director General (Crop Science), ICAR and Dr A.K. Mishra, Principal Scientist, ICAR in the meetings.

The bilateral meeting between Minister for Agriculture and Farmers’ welfare and rural development Shri Shivraj Singh Chouhan and Shri Ramnath Adhikari,  Minister for Agriculture and Livestock Development of Nepal was held today in Kathmandu. The Ministers reviewed bilateral cooperation in the field of agriculture and discussed ways to further enhance collaboration for mutual benefit of both nations.

 A Memorandum of Understanding between the Governments of India and Nepal on cooperation in the field of Agriculture was signed. This MoU supersedes the MoU signed between both the countries on 6 December 1991. The MoU will give a fresh impetus to the ongoing cooperation especially in areas such as improving crop productivity, post-harvest management, agricultural research & capacity building, market access, agricultural trade as also climate resilient & sustainable agriculture.

 Both sides discussed convening Joint Agriculture Working Group (JAWG) Meetings under the new MoU, and cooperation between the Indian Council for Agricultural Research (ICAR) and the Nepal Agricultural Research Council (NARC).  Both the Ministers reviewed the progress of India’s proposal for setting up of an Agro-Industrial Park in Chitwan. The Ministers also reviewed progress of the Agricultural projects under India’s High Impact Community Development Project (HICDP) Programme in Nepal. Both sides also discussed cooperation in livestock sector and institutional collaboration between the agricultural educational institutions of both countries.

 Union Minister Shri Chouhan called on Shri Indramani Pandey, the Secretary General, BIMSTEC and discussed possible areas of cooperation between India and the BIMSTEC platform in the field of agriculture. The Minister noted that the BIMSTEC countries face shared challenges such as climate change, resource scarcity, and issues related to food security and nutrition, which call for regional cooperation and exchange of learnings from each other’s experiences. He also noted that the BIMSTEC countries need to work together to successfully implement the BIMSTEC Plan of Action 2023-2027 that was collectively adopted in the 5th BIMSTEC Summit in 2022.

 Minister reiterated India’s commitment to make meaningful contributions to strengthening BIMSTEC agricultural cooperation through ongoing initiatives like Govt. of India’s fully funded BIMSTEC Agricultural Scholarship Program, and training programmes and workshops on seed sector development, animal health and pest management, and emerging fields like nanotechnology management and applications of remote sensing in agriculture that were recently conducted. The Minister underlined India’s commitment in the establishment of the proposed BIMSTEC Centre of Excellence in Agriculture in New Delhi.

  Minister Shri Chouhan held a bilateral meeting with Mr Lyonpo Younten Phuntsho,  Minister for Agriculture and Livestock (MOAL) of Bhutan. The Ministers reviewed bilateral cooperation in the field of Agriculture, livestock and allied sectors with focus on areas like development of irrigation channels, mega farms etc. The Ministers also discussed about signing a MoU on technical cooperation between the two countries soon.

 Minister stressed on India’s commitment in furthering India’s ties with Bhutan. The Bhutanese side stressed on resource constraints and requested the Indian side for augmenting its funding support to Bhutanese initiatives.

 Minister Shri Shivraj Singh Chouhan called on Shri K.P. Sharma Oli,  Prime Minister of Nepal. The two leaders reaffirmed the close and friendly relations between India and Nepal and discussed ways to further strengthen India-Nepal cooperation in the field of agriculture. The Ministers conveyed hope that the newly signed MoU will pave way for increased cooperation between both the countries in the field of agriculture and allied sectors.

 Minister Shri Shivraj Singh Chouhan reiterated India’s commitment to support Nepal in agriculture and allied sectors through setting up of an agro-industrial park in Chitwan and a fertilizer plant in Nepal. Both sides also discussed market access issues.

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PSF/KSR/AR

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