Daily News - Wednesday, 9 April 2025
Amid tariffs, India domestic demand a big magnet: FM (mint)
Finance Minister Nirmala Sitharaman, during her London visit, emphasized that India’s economy remains resilient and domestically driven, continuing as the world’s fastest-growing major economy for five consecutive years, even as global growth remains subdued and tariffs from the US reshape trade patterns. Highlighting India’s robust consumption and demand for globally competitive goods, she stated that this internal strength not only shields India from global headwinds but also makes it a magnet for FDI and global manufacturing aimed at both domestic supply and exports. Sitharaman reaffirmed that India’s growth momentum may slightly moderate but will remain strong enough to position the country and select emerging markets as engines of global economic recovery.
Govt. notifies ₹22,919-cr. sop scheme for electronic parts (The Hindu)
The Ministry of Electronics and IT has launched the ₹22,919 crore Electronics Component Manufacturing Scheme, offering 1–10% incentives on incremental capex and turnover to boost domestic production of passive components and sub-assemblies. With most smartphones now assembled in India, the government aims to deepen value addition in electronics manufacturing, currently at 18% compared to China’s 38%, by targeting components rather than just finished products. Union Minister Ashwini Vaishnaw stated that by 2030, the goal is to double the domestic value added, thereby enhancing India’s position in the global electronics supply chain.
Delhi's peak electricity demand hits 5,029 MW (Financial Express)
Delhi’s peak power demand for summer 2025 reached 5,029 MW on Tuesday, the highest so far this season, with projections estimating a surge to 9,000 MW by late June or early July amid expected heatwaves and above-normal temperatures. Tata Power-DDL met a record 1,585 MW demand within its network using long-term power tie-ups and Battery Energy Storage Systems (BESS), and is preparing to handle a peak of 2,562 MW this summer, up from 2,481 MW last year. Nationwide, peak demand hit 235 GW on March 11, and with maintenance delayed due to GRAP restrictions, Tata Power-DDL amplified its outage plan in March 2025 to ensure grid readiness.
Dubai Crown Prince India visit: Trade, defence ties on agenda (Financial Express)
Dubai Crown Prince Sheikh Hamdan bin Mohammed’s visit to India marked a significant step in strengthening the India-UAE Comprehensive Strategic Partnership, with high-level meetings held with PM Modi, Defence Minister Rajnath Singh, and EAM S. Jaishankar focusing on expanding cooperation across trade, investments, defence, energy, and technology. Defence collaboration was a key agenda, with both sides expressing satisfaction over existing military exercises and training exchanges, while also identifying defence manufacturing, co-production, and innovation as future focus areas. PM Modi highlighted the UAE’s role in ensuring the welfare of 4.3 million Indians residing there, underlining the broader importance of the bilateral relationship in regional peace and prosperity.
Tariff war ‘opportunity of lifetime’, says Goyal (Financial Express)
Commerce Minister Piyush Goyal described the current global trade disruptions as an “opportunity of a lifetime” for India, suggesting the country is well-positioned to benefit from the reorganisation of global supply chains without resorting to retaliatory trade actions. Speaking at the India Global Forum in Mumbai, he noted that India, as the world’s fastest-growing large economy, could leverage the volatility and uncertainty triggered by new US tariffs and China’s retaliatory 34% duties, to attract trade and investment. While global equity markets have lost $10 trillion amid these tensions, Goyal emphasized India’s relative gains due to its lower US tariff rate (26%) compared to regional competitors like China and Vietnam.
