Economic Outlook Remains Strong with Key Achievements
The International Monetary Fund (IMF) has projected India's economy to grow at 6.6% in 2025-26, positioning it to outpace China.
In a notable achievement for the banking sector, the State Bank of India (SBI) has been awarded 'World's Best Consumer Bank 2025' and 'Best Bank in India 2025' by Global Finance, acknowledging its leadership in digital services and commitment to financial inclusion.
The Indian real estate sector has attracted its highest capital in the past seven years, securing US$2.63 billion in FY25, driven by strong REIT activity and renewed investor confidence. Furthermore, the Unified Payments Interface (UPI) continues to dominate India's digital payment landscape, accounting for 85% of total transaction volumes in the first half of the calendar year 2025.
The government is also reportedly planning significant reforms for the Micro, Small, and Medium Enterprises (MSME) sector to reduce costs, foster innovation, and modernize this crucial segment of the economy.
On the trade front, India and the United States are reportedly "very close" to finalizing a trade pact, with legal language being drafted to seal the deal. India is also actively working to expand its agricultural exports, targeting 26 new international markets for rice.
Significant Diplomatic Re-engagement with Afghanistan
In a major foreign policy development, India has announced the reopening of its embassy in Afghanistan. This move signals a notable shift in New Delhi's engagement with the Taliban, aiming to reset relations amidst deteriorating ties between the Taliban and Pakistan. The decision follows Afghan Foreign Minister Amir Khan Muttaqi's recent visit to India, marking him as the most senior Taliban official to visit the country since the group's return to power in 2021.
Cyclone Montha Approaches Andhra Pradesh Coast
Coastal regions are on high alert as Severe Cyclone Montha is expected to make landfall along the Andhra Pradesh coast. The India Meteorological Department (IMD) forecasts that the depression over the Bay of Bengal will intensify into a cyclonic storm, likely crossing the Andhra Pradesh coast near Kakinada by Tuesday night with wind speeds up to 90-100 kmph, gusting to 110 kmph. Crisis management groups are actively reviewing preparedness measures in anticipation of the cyclone.
Political Developments and Other News
In political news, the ongoing Waqf Act row continues to fuel political discourse in Bihar, with Home Minister Amit Shah and RJD leader Tejashwi Yadav exchanging remarks ahead of upcoming elections. Separately, the Delhi government is slated to launch its first official logo on November 1. Additionally, the government plans to increase print media advertising rates by 26% and introduce reforms to TRP ratings.