1. India–UAE Strengthen Trade Ties as Bilateral Value Surpasses US$ 100 Billion
India and the UAE held their third CEPA Joint Committee meeting in New Delhi to review progress under the trade agreement. Bilateral trade has crossed US$ 100 billion in FY25, growing nearly 20%, reinforcing the UAE’s position as one of India’s key trading partners. Discussions focused on improving market access, regulatory alignment, and transparent gold quota allocation.
2. India’s Food Services Market Poised to Grow 60% by 2030
India’s food services industry is expected to reach up to US$ 125 billion by 2030, driven by higher incomes, digital adoption, and stronger supply chains, according to the Kearney–Swiggy report. The organised sector—led by cloud kitchens, QSRs, and café chains—is set to grow nearly twice as fast as the unorganised market, increasing its share to 55% of total industry value.
3. Government Launches Tex-RAMPS Scheme to Boost Innovation in Textiles
The Government of India has approved the Tex-RAMPS scheme to enhance research, innovation, and competitiveness in the textiles sector. With a budget allocation of Rs. 305 crore for FY26–FY31, the initiative will function as a fully funded Central Sector Scheme under the Ministry of Textiles. The programme aims to strengthen R&D and support industry-led innovation in alignment with the next Finance Commission cycle.
4. Government Clears US$ 815 Million Push for Rare Earth Magnet Manufacturing
The Union Cabinet has approved a Rs. 7,280 crore scheme to boost domestic production of sintered rare earth permanent magnets, targeting 6,000 MTPA of manufacturing capacity. The initiative aims to reduce reliance on imports and build an end-to-end value chain—from processing rare earth oxides to producing finished magnets—supporting India’s strategic and high-tech manufacturing ecosystem.
5. Rupee Breaches 89 Mark, Hits Record Low
The Indian rupee hit a historic low on Friday, slipping past the 89-per-dollar mark in its steepest single-day fall in over three months. The decline was driven by weak sentiment across domestic and global equity markets, adding pressure on the currency amid ongoing economic uncertainty.
6. India’s Q2 GDP Soars to 8.2%
India’s economy delivered a strong surprise as GDP growth climbed to 8.2% in Q2 FY26, the fastest pace in six quarters. The sharp rise was driven by robust manufacturing activity and improved industrial output. Real GDP stood at ₹48.63 lakh crore, up from ₹44.94 lakh crore last year.
7. RBI Likely to Cut Repo Rate
The RBI’s Sanjay Malhotra-led MPC is widely expected to reduce the repo rate by 25 bps to 5.25% in the upcoming December meeting. After holding rates steady since August, easing food prices and GST cuts have pushed inflation to a historic low of 0.25%, giving room for monetary easing.
8. Cabinet Approves ₹7,280 Cr Magnet Scheme
The Union Cabinet has cleared a ₹7,280-crore incentive scheme to boost India’s domestic rare earth magnet manufacturing capacity and reduce dependence on China. The seven-year programme targets 6,000 MT annual output, with five integrated units of 1,200 MT each expected to be established within the next three years.
9. Russia to Ratify Key Military Pact
Russia is preparing to ratify the Reciprocal Exchange of Logistics Agreement (RELOS) with India ahead of President Vladimir Putin’s visit on December 4–5. The pact, signed in February 2025, will enhance military cooperation by enabling logistical support, strategic access, and stronger interoperability between the two nations’ armed forces.
10. PRISM Seeks Nod for ₹6,650 Cr IPO
OYO’s parent company, PRISM, has scheduled an Extraordinary General Meeting (EGM) on December 20 to secure shareholder approval for raising up to ₹6,650 crore through an IPO. The fundraising plan marks a major step toward strengthening the company’s balance sheet and supporting its long-term expansion strategy.
11. Russia to Review New US-Ukraine Peace Plan
Russia confirmed it has received the updated peace proposal jointly discussed by the U.S. and Ukraine to end the ongoing conflict. The Kremlin said the framework will be examined next week. President Putin indicated the draft could form the basis for future negotiations, but warned Russia would continue fighting if talks fail.
12. Ahmedabad Named Host for 2030 Commonwealth Games
Ahmedabad has been officially confirmed as the host city for the 2030 Commonwealth Games during the Commonwealth Sport General Assembly in Glasgow. This marks India’s return as host after 20 years, following the 2010 Delhi Games. Prime Minister Narendra Modi hailed the decision as a proud milestone for India’s sporting ecosystem.
13. Fed Signals Possible December Rate Cut
Uncertainty looms as investors await the Federal Reserve’s December 9–10 policy meeting, where a third consecutive rate cut is increasingly expected. Recent remarks from New York Fed President John Williams boosted market confidence, leading to a strong Wall Street session. Markets now anticipate a potentially bold move to support economic momentum.
14. Nifty 50 Hits All time high
The Nifty 50 index achieved its all-time intraday high of 26,310.45 on November 27, 2025, surpassing the prior record of 26,277.35 from September 2024. This milestone came after 14 months, fueled by optimism over earnings growth, easing valuations, and supportive economic policies. The index briefly crossed 26,300 during early trade, reflecting robust market sentiment.
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