On the eve of India's 79th Independence Day, President Droupadi Murmu addressed the nation, underscoring India's remarkable economic resilience, marked by a 6.5% GDP growth rate in FY24, positioning it as the fastest-growing major economy globally. Her address also highlighted advancements in infrastructure, the success of "Make-in-India" and "Atmanirbhar Bharat" initiatives, and lauded "Operation Sindoor" as a decisive response to terrorism. Prime Minister Narendra Modi is slated to deliver his 12th consecutive Independence Day speech from the Red Fort, expected to further elaborate on the nation's economic progress and security achievements. Security measures across Delhi have been significantly heightened for the celebrations.
In a significant economic development, S&P upgraded India's sovereign credit rating to 'BBB' with a stable outlook, marking the first such upgrade in 18 years. This upgrade reflects India's robust economic growth and commitment to fiscal consolidation. Despite this, India's trade deficit widened to USD 11.72 billion in July 2025, driven by a faster rise in imports. The Reserve Bank of India (RBI) maintained its repo rate at 5.5% in its August 2025 Monetary Policy Committee meeting.
Internationally, India's relations with the United States are experiencing strain following new 25% tariffs imposed by the Trump administration on Indian goods, with a further increase threatened. India has expressed a desire for relations based on mutual respect and shared interests amidst these tariff tensions. Conversely, there are signs of warming ties with China, with discussions underway to resume border trade and direct passenger flights. Prime Minister Modi is scheduled to visit Tianjin, China, for the Shanghai Cooperation Organization (SCO) Summit later this month. India has also endorsed the Trump-Putin summit in Alaska.
Domestically, a massive cloudburst in Kishtwar, Jammu and Kashmir, resulted in the tragic loss of at least 30-38 lives and left many missing.
From a legal and judicial perspective, the Supreme Court directed the Election Commission of India (ECI) to publish a searchable list of approximately 65 lakh names excluded from the Bihar draft electoral roll by August 19, along with the reasons for their non-inclusion, emphasizing transparency. The Supreme Court also reserved its order on an interim plea seeking to stay its directive on relocating stray dogs from Delhi streets to shelters.
On the eve of Independence Day, gallantry awards were announced, including the Sarvottam Yudha Seva Medal and Vir Chakra for Indian Air Force officers involved in 'Operation Sindoor', alongside various police medals for 1,090 personnel. Other notable developments include India achieving a 100 GW Solar PV Manufacturing Milestone under the Approved List of Models and Manufacturers (ALMM) scheme, and the Union government approving investment for the 700 MW Tato-II Hydro-Electric Project in Arunachal Pradesh. India's first hydrogen-powered train is also set to commence operations on the Jind-Sonipat route.