Daily News - Tuesday, 23 September 2025
Trump tariff risks cast shadow on rural income outlook: Nabard survey (Business Standard)
A new Nabard survey shows that rural optimism in India is softening, with fewer households expecting income growth over the next year or quarter, as steep US tariffs on Indian exports—particularly in sectors tied to rural livelihoods like seafood—have raised concerns about future earnings and employment. Despite this dip in sentiment, formal credit access continues to expand, with over half of households relying solely on banks and financial institutions, although informal borrowing remains common and costly for many, while those reporting income gains saw an average rise of 12.8 per cent. Inflation expectations have eased, and rural development satisfaction is highest for roads, followed by education and electricity, highlighting that while confidence has weakened, structural improvements and policy support are slowly shaping the rural economy.
India’s beauty market booms, growing 10% annually, say industry leaders (Financial Express)
India’s beauty and personal care industry, now worth $21 billion and growing nearly 10% annually, is being driven by premiumisation, rising middle-class spending, and increasing demand from Tier-2 and Tier-3 cities, with skincare, makeup, fragrances, and personal care all seeing significant contributions. Industry leaders emphasised that while mass-market products still dominate, building aspirational and premium offerings, leveraging community-driven marketing, omnichannel reach, and trial packs are critical to capturing consumers, especially as trends like Ayurveda-inspired products, skinimalism, AI personalisation, and sustainability shape the sector. The discussion also highlighted that India’s market is evolving rapidly, with regional aspirations and cultural pride influencing growth, and startup founders advised focusing on hero products, authentic communities, and long-term strategy, noting that real value in entrepreneurship often emerges over decades.
Rupee hits all-time low of 88.53 against dollar amid US tariffs, visa fee hike (Financial Express)
The rupee slipped to a new intraday low of 88.53 against the US dollar, pressured by heightened US tariffs on Indian goods, the H-1B visa fee hike, global risk aversion, and trade policy uncertainty, with analysts noting that limited RBI intervention has allowed greater currency volatility. Domestic markets mirrored this cautious sentiment, as the Sensex and Nifty both fell, foreign investors offloaded equities worth nearly Rs 2,910 crore, and the dollar’s strength, coupled with modest crude price movements, added to market jitters. Against this backdrop, Commerce Minister Piyush Goyal is leading a delegation to the US to negotiate a mutually beneficial trade agreement, aiming to ease tensions and support both exports and investor confidence.
US visa interview waiver scrapped for kids, senior citizens, foreign workers and students (Financial Express)
Effective October 1, 2025, the US is largely withdrawing its interview waiver or Dropbox program for nonimmigrant visas, requiring almost all applicants—including students on F-1 visas, H-1B professionals, and those under 14 or over 79—to appear in person, while only a few categories like certain B1/B2 renewals and H-2A visa renewals will remain eligible. This change comes after the September 18 update, which slightly expanded eligibility for interview waivers but still leaves most travellers subject to in-person interviews, signalling a major shift from prior policy. The move is expected to create longer consulate backlogs, disrupt visa appointment schedules, and significantly impact Indian students’ admissions and travel plans to US universities this fall.
