India Overtakes Japan To Become The World’s Fourth Largest Economy, Says NITI Aayog CEO (The Times of India)
India has officially overtaken Japan to become the world’s fourth-largest economy with a projected nominal GDP of $4.187 trillion in 2025, according to IMF data cited by NITI Aayog CEO B.V.R. Subrahmanyam, who also noted that India is poised to become the third-largest economy within 2.5 to 3 years. Subrahmanyam highlighted strong geopolitical and economic conditions, emphasizing that India remains a cost-effective manufacturing hub despite global uncertainties, including US trade policy concerns. He also announced that a second round of asset monetisation is planned for August, while India’s per capita income has doubled over the past decade, from $1,438 in 2013–14 to $2,880 in 2025.
Trade talks with Japan, Asean, and others likely to get impetus after completion of US, and EU deals (mint)
India is prioritizing the finalization of major trade agreements with the US and EU, its top strategic and commercial partners, while preparing to resume negotiations with Japan, Australia, ASEAN, South Korea, Peru, and Sri Lanka, where progress has been steady but gradual. The India-UK Free Trade Agreement, finalized in May, eliminates tariffs on 99% of tariff lines and targets a doubling of bilateral trade to $100 billion by 2030, while the India-EU FTA talks are ongoing, with India-EU goods trade already valued at $137.41 billion in 2023–24, making the EU India’s largest merchandise trading partner. Trade strategy varies by region, with Indian negotiators emphasising alignment on timelines and the extension of supply chains as central to ongoing and upcoming agreements.
Govt prohibits 34 drugs for animal use citing risk to humans after commerce ministry request (mint)
India has banned the import, manufacture, sale, and distribution of 34 veterinary antimicrobials (15 antibiotics, 18 antivirals, and one antiprotozoal) to curb rising antimicrobial resistance (AMR), which causes around 600,000 deaths annually in the country, according to the WHO. These drugs, previously unapproved by the Central Drugs Standard Control Organisation (CDSCO) for animal use, pose a significant risk to human health through the food chain, prompting the health ministry to act on a request from the commerce ministry. The move aligns with the One Health approach, emphasising the need for responsible antimicrobial use across both human and animal health sectors.
